Sensex, Nifty End At Two-Week Low; Rupee Extends Drop

Indian equity indices extended declines to end at two-week low.

The S&P BSE Sensex fell 0.57 percent to end at 40,16.06 and the NSE Nifty 50 fell 0.61 percent to close at 11,840.45. The broader markets represented by the NSE Nifty 500 Index fell 0.64 percent.

The market breadth was tilted in favour of sellers. About 1,131 stocks declined and 683 shares advanced on National Stock Exchange.

All the 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 4.5 percent fall.

The Indian rupee weakened to trade at day’s low against the U.S. dollar. The home currency depreciated as much as 0.73 percent to 71.98 against the greenback.

Indian Hotels

• Stock rose as much as 7.7 percent to Rs 157.90.
• Company to acquire remaining stake in Claridges Hotels’ arm and Excalibur for a consideration of Rs 250 crore.
• To acquire Hotel in Pune for Rs 108 crore.

Edelweiss Financial Services

• Stock rose as much as 4.9 percent to Rs 122.15.
• PE firm Sanaka Capital to invest up to $75 million into group’s Investment Advisory business.

IDFC

• Stock rose as much as 6.7 percent to Rs 35.90.
• About 70.2 lakh shares of the company changed hands in two large trades, Bloomberg data showed. Buyers and sellers were not known immediately.

Mahanagar Gas

• Stock rose as much as 7.9 percent to Rs 1,046.65.
• Fresh longs seen with high open interest of 27 percent.

ABB (Q3, QoQ)

• Stock rose as much as 0.85 percent to Rs 1,469.
• Revenue up 1 percent to Rs 1746 crore.
• Net profit up 4 percent to Rs 135 crore.
• Ebitda flat at Rs 124 crore versus Rs 124 crore.
• Margin at 7.1 percent versus 7.2 percent.

Zydus Wellness (Q2, YoY)

• Stock fell as much as 6.9 percent to Rs 1,480.
• Revenue up 2.4 times to Rs 326 crore.
• Net loss at Rs 12 crore versus net profit of Rs 42.2 crore.
• Ebitda down 47.4 percent to Rs 20.3 crore.
• Margin at 6.2 percent versus 27.9 percent.
• Number not comparable as numbers from Heinz India is also included.

Indian equity benchmarks traded lower

The S&P BSE Sensex fell 0.19 percent to 40,269 and the NSE Nifty 50 fell 0.23 percent to 11,885.25. The broader markets represented by the NSE Nifty 500 Index fell 0.29 percent.

The market breadth was tilted in favour of sellers. About 1,047 stocks declined and 726 shares advanced on National Stock Exchange.

Sheela Foam

• Stock rose as much as 8.6 percent to Rs 1,345.
• Trading volume was almost 50 times its 20-day average.

NESCO

• Stock rose as much as 6.1 percent to Rs 640.
• Trading volume was more than 20 times its 20-day average.

EID Parry India

• Stock rose as much as 18.5 percent to Rs 193.20.
• Trading volume was more than 16 times its 20-day average.

Bharat Dynamics

• Stock rose as much as 9.2 percent to Rs 364.80.
• Trading volume was 16 times its 20-day average.

AU Small Finance Bank

• Stock rose as much as 11.5 percent to Rs 801.
• Trading volume was more than 11 times its 20-day average.

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Indian equity benchmarks fluctuated between gains and losses.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 40,365 and 11,902 repsctively. The broader markets represented by the NSE Nifty 500 Index rose 0.14 percent

Nine out of 11 sectoral gauges compiled by NSE traded lower, led by the NSE Nifty Media Index’s 4.3 percent fall. On the flipside, the NSE Nifty Auto Index was the top sectoral gainer, up 0.46 percent.

About 13.7 lakh shares of Petronet LNG changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Nifty’s 11,900 call option contract was among the most active Nifty option contracts on National Stock Exchange.

Premium on the contract, which is set to expire on Nov. 14, fell 1.18 percent to Rs 45.95. Over 13.74 lakh shares were added to the open interest which stood at over 33.05 lakh shares.

Shares of IDFC rose as much as 3.6 percent to Rs 34.85.

About 70.2 lakh shares of the company changed hands in two large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

Of the shares traded, 3 percent were at the ask price and 96 percent were at the bid, according to Bloomberg data.

Coal India (Q2, YoY)

• Stock rose as much as 2.9 percent to Rs 216.
• Revenue down 6.9 percent to Rs 20,382.6 crore (Estimate: Rs 19,220.3 crore)
• Net profit up 14.2 percent to Rs 3,522.7 crore (Estimate: Rs 2,336.9 crore)
• Ebitda down 16.5 percent to Rs 3611.2 crore (Estimate: Rs 3,164.7 crore)
• Margin at 17.7 percent versus 19.8 percent (Estimate: 15.9 percent)

Britannia (Q2, YoY)

• Stock rose as much as 5.8 percent to Rs 3,299.
• Revenue up 6.2 percent to Rs 3,048.8 crore (Estimate: Rs 3,041 crore)
• Net profit up 33.4 percent to Rs 404.2 crore (Estimate: Rs 365 crore)
• Ebitda up 8.3 percent to Rs 492.2 crore (Estimate: Rs 479 crore)
• Margin at 16.1 percent versus 15.8 percent (Estimate: 15.8 percent)

Adani Ports and SEZ (Q2, YoY)

• Stock rose as much as 1 percent to Rs 391.80.
• Revenue up 8.2 percent to Rs 2821 crore (Estimate: Rs 2,870 crore)
• Net profit up 74 percent to Rs 1054 crore (Estimate: Rs 975 crore)
• Ebitda up 5.2 percent to Rs 1791 crore (Estimate: Rs 1,766 crore)
• Margin at 63.5 percent versus 65.3 percent (Estimate: 61.5 percent)

Hindalco (Q2, YoY)

• Stock fell as much as 2.3 percent to Rs 195.50.
• Revenue down 8.1 percent to Rs 9965 crore (Estimate: Rs 10,107 crore)
• Net profit down 74.7 percent to Rs 78 crore (Estimate: Rs 97.01 crore)
• Ebitda down 27.4 percent to Rs 792 crore (Estimate: Rs 756.4 crore)
• Margin at 7.9 percent versus 10.1 percent

Aurobindo Pharma (Q2, YoY)

• Stock rose as much as 4.6 percent to Rs 457.95.
• Revenue up 18 percent to Rs 5600 crore
• Net profit up 5 percent to Rs 640 crore
• Ebitda up 14 percent to Rs 1167 crore
• Margin at 20.84 percent versus 21.6 percent

Mahanagar Gas (Q2, QoQ)

• Stock rose as much as 2.4 percent to Rs 992.35.
• Revenue up 3.7 percent to Rs 861.6 crore
• Net profit up 59 percent to Rs 270.6 crore
• Ebitda down 1.2 percent to Rs 273.5 crore
• Margin at 31.7 percent versus 33.3 percent

NMDC (Q2, YoY)

• Stock rose as much as 3.7 percent to Rs 107.50.
• Revenue down 8 percent to Rs 2241.8 crore
• Net profit up 10.5 percent to Rs 703.3 crore
• Ebitda down 15.8 percent to Rs 1060.2 crore
• Margin at 47.3 percent versus 51.7 percent

Embassy Office Parks REIT* (Q2)

• Stock rose as much as 1.5 percent to Rs 405.
• Revenue from operations up 15 percent to Rs 520.6 crore
• Net operating income up 16 percent to Rs 438.4 crore
• Declared Distribution of Rs 6 Per Unit (Record Date-Nov. 19)
• *Numbers Not Comparable

Phoenix Mills (Q2, YoY)

• Stock fell as much as 4.5 percent to Rs 709.
• Revenue up 2.6 percent to Rs 415.1 crore
• Net profit up 6.1 percent to Rs 65.8 crore
• Ebitda up 6.4 percent to Rs 210.8 crore
• Margin at 50.8 percent versus 48.9 percent

Metropolis Healthcare (Q2, YoY)

• Stock rose as much as 2.6 percent to Rs 1,434.95.
• Revenue up 15.6 percent to Rs 223.3 crore
• Net profit up 41 percent to Rs 43 crore
• Ebitda up 31 percent to Rs 62.6 crore
• Margin at 28 percent versus 24.8 percent

Sheela Foam (Q2, YoY)

• Stock rose as much as 8.6 percent to Rs 1,345.
• Revenue down 7.1 percent to Rs 497.3 crore
• Net profit up 2.4 times to Rs 58.7 crore
• Ebitda up 66 percent to Rs 70.4 crore
• Margin at 14.2 percent versus 7.9 percent

Shankara Building Products (Q2, YoY)

• Stock rose as much as 3.5 percent to Rs 364.95.
• Revenue down 1.7 percent to Rs 633.1 crore
• Net profit up 13.2 percent to Rs 10.3 crore
• Ebitda down 14.1 percent to Rs 26.7crore
• Margin at 4.2 percent versus 4.8 percent

Prestige Estates (Q2, YoY)

• Stock fell as much as 2.9 percent to Rs 298.
• Revenue up 46.6 percent to Rs 196.27 crore
• Net profit up 53.8 percent to Rs 15.72 crore
• Ebitda up 59.9 percent to Rs 64.97 crore
• Margin at 33 percent versus 30.4 percent

Adani Gas (Q2, YoY)

• Stock rose as much as to Rs 151.40.
• Revenue up 8 percent to Rs 514.43 crore
• Net profit up 137 percent to Rs 120.06 crore
• Ebitda up 10.7 percent to Rs 147.44 crore
• Margin at 28.6 percent versus 28 percent

Adani Enterprises (Q2, YoY)

• Stock fell as much as 5.3 percent to Rs 199.70.
• Revenue down 6.9 percent to Rs 8626.94 crore
• Loss at Rs 49.50 crore versus profit at Rs 172 crore
• Ebitda down 2.15 percent to Rs 540.47 crore
• Margin at 6.26 percent versus 5.96 percent

Edelweiss Financial Services (Q2, YoY)

• Stock rose as much as 4.9 percent to Rs 122.15.
• Net interest income down 52 percent to Rs 280.18 crore
• Net profit down 75.4 percent to Rs 67.97 crore

Info Edge (Q2, YoY)

• Stock rose as much as 4.7 percent to Rs 2,685.
• Revenue up 16 percent to Rs 357.7 crore
• Loss at Rs 10.92 crore versus loss of Rs 3.7 crore
• Ebitda up 15.3 percent to Rs 118.32 crore
• Margin at 33 percent versus 33.3 percent

Abbott India (Q2, YoY)

• Stock rose as much as 2.9 percent to Rs 12,043.95.
• Revenue up 7.9 percent to Rs 1083.7 crore
• Net profit up 29.5 percent to Rs 178.33 crore
• Ebitda up 6.6 percent to Rs 233.03 crore
• Margin at 21.5 percent versus 21.76 percent

Cochin Shipyard (Q2, YoY)

• Stock rose as much as 2.4 percent to Rs 417.
• Revenue up 22.8 percent to Rs 1050.8 crore
• Net profit up 40.3 percent to Rs 206.33 crore
• Ebitda up 16.9 percent to Rs 284.58 crore
• Margin at 27 percent versus 28.4 percent

Aster DM Healthcare (Q2, YoY)

• Stock fell as much as 1.4 percent to Rs 140.10.
• Revenue up 12.8 percent to Rs 2091 crore
• Net profit down 71.7 percent to Rs 3.12 crore
• Ebitda up 75.7 percent to Rs 248.96 crore
• Margin at 11.9 percent versus 7.6 percent

Godrej Industries (Q2, YoY)

• Stock rose as much as 6.4 percent to Rs 459.
• Revenue down 2.54 percent to Rs 556.19 crore
• Net profit down 13.7 percent to Rs 32.98 crore
• Ebitda up 7 percent to Rs 120.65 crore
• Margin at 21.7 percent versus 19.7 percent

Sun TV (Q2, YoY)

• Stock fell as much as 8.9 percent to Rs 482.
• Revenue up 6.79 percent to Rs 900.74 crore
• Net profit up 1 percent to Rs 368.79 crore
• Ebitda down 11.8 percent to Rs 554.46 crore
• Margin at 61.5 percent versus 74.5 percent

CG Power (Q2, YoY)

• Stock rose as much as 4.7 percent to Rs 16.70.
• Revenue down 32.7 percent to Rs 977.12 crore
• Net profit down 94 percent to Rs 0.89 crore
• Ebitda down 43 percent to Rs 102.81 crore
• Margin at 10.5 percent versus 12.5 percent

Future Consumer (Q2, YoY)

• Stock fell as much as 2.4 percent to Rs 24.60.
• Revenue up 10.5 percent to Rs 1127.17 crore
• Loss at Rs 16.97 crore versus loss of Rs 3.69 crore
• Ebitda up 33.6 percent to Rs 45.3 crore
• Margin at 4.01 percent versus 3.3 percent

Aditya Birla Fashion And Retail (Q2, YoY)

• Stock rose as much as 2.7 percent to Rs 206.70.
• Revenue up 14.7 percent to Rs 2324.35 crore
• Loss at Rs 2.35 crore versus profit of Rs 42.73 crore
• Ebitda up 120 percent to Rs 355.79 crore
• Margin at 15.3 percent versus 7.97 percent

Sundaram Finance (Q2, YoY)

• Stock rose as much as 3.1 percent to Rs 1,644.
• Net interest income down 11.98 percent to Rs 324.28 crore
• Net profit up 9.12 percent to Rs 185.4 crore

Natco Pharma (Q2, YoY)

• Stock fell as much as 4.4 percent to Rs 552.95.
• Revenue down 11 percent to Rs 518.9 crore
• Net profit down 35 percent to Rs 117.7 crore
• Ebitda down 35.7 percent to Rs 167.5 crore
• Margin at 32 percent versus 44.6 percent

Sanofi India (Q2, YoY)

• Stock fell as much as 2.8 percent to Rs 6,426.
• Revenue up 4.7 percent to Rs 779.1 crore
• Net profit up 6.2 percent to Rs 126.6 crore
• Ebitda up 18.6 percent to Rs 281.2 crore
• Margin at 36 percent versus 31.9 percent

VA Tech Wabag (Q2, YoY)

• Stock rose as much as 3.4 percent to Rs 186.45.
• Revenue down 14.72 percent to Rs 641.59 crore
• Net profit down 24.39 percent to Rs 27.09 crore
• Ebitda up 5.8 percent to Rs 66.93 crore
• Margin at 10.43 percent versus 8.4 percent

Hotel Leela (Q2, YoY)

• Stock rose as much as 8.1 percent to Rs 8.
• Revenue down 12 percent to Rs 33.22 crore
• Net profit Rs 16.66 crore versus loss of Rs 66.57 crore
• Margin at -19.8 percent versus -11 percent

Vinati Organics (Q2, YoY)

• Stock fell as much as 5.8 percent to Rs 1,953.65.
• Revenue down 15 percent to Rs 256.26 crore
• Net profit up 33.5 percent to Rs 110 crore
• Ebitda down 15.6 percent to Rs 111.05 crore
• Margin at 43.3 percent versus 43.54 percent

Nagarjuna Fertilizers (Q2, YoY)

• Stock rose as much as 4.9 percent to Rs 4.30.
• Revenue up 25.4 percent to Rs 482.08 crore
• Loss at Rs 99.6 crore versus loss of Rs 172.4 crore

Repco Home (Q2, YoY)

• Stock rose as much as 3.2 percent to Rs 305.80.
• Net interest income up 6.47 percent to Rs 115.95 crore
• Net profit up 51 percent to Rs 100.6 crore

Shares of Avanti Feeds extended declines for the second consecutive trading session, The stock fell as much as 6.6 percent to Rs 475. The scrip had ended 8.2 percent lower on Monday.

The shrimp feed manufacturer and distributor said that the company and its arm Avanti Frozen Foods’ premises were searched by the Income Tax authorities from Nov. 7-11.

Of the shares traded, 48 percent were at the ask price and 24 percent were at the bid, Bloomberg data showed. The stock traded at 17 times its estimated earnings per share for the coming year.

Shares of Power Grid rose as much as 1.4 percent to Rs 194.35.

About 16.6 lakh shares of the company changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.

The stock declined 1.7 percent in the past five days and fell 4.5 percent in the past 30 days.

Shares of Lupin rose as much as 3.1 percent to Rs 758.80.

India’s fourth largest drugmaker by market value informed the exchanges it has entered into a definitive agreement to sell 99.82 percent of its stake in Kyowa Pharmaceutical Industry Co. to Plutus Ltd., a subsidiary of the private equity firm Unison Capital Partners, at an enterprise value of 57,361 million Japanese yen—nearly Rs 3,702.4 crore. That, Lupin said, would generate a post-tax net cash inflow of Rs 2,103.9 crore.

Trading volume was more than nine times its 20-day average, Bloomberg data showed. The stock traded at 31 times its estimated earnings per share for the coming year.

Shares of Vodafone Idea fell as much as 7.5 percent to Rs 3.70.

Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, Bloomberg reported quoting the company’s Chief Executive Officer Nick Read.

Trading volume was more than triple its 20-day average, according to Bloomberg data. Of the shares traded, 49 percent were at the ask price and 50 percent were at the bid.

Indian equity benchmarks fluctuated between gains and losses in the opening trade.

The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 40,365 and 11,922. The broader markets represented by the NSE Nifty 500 Index rose 0.14 percent

Ten out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Realty Index’s 0.9 percent gain. On the flipside, the NSE Nifty Media Index was the only sectoral loser, down 1.26 percent.

Futures

• Nifty November futures closed at 11,943.7, premium of 30.3 points versus 37.2 points
• Nifty November Futures open interest down 3 percent, sheds 4.7 lakh shares in open interest
• Nifty Bank November futures closed at 31,097.8, discount of 17.7 points versus premium of 9.6 points
• Nifty Bank November futures series open interest up 12 percent, adds 2 lakh shares in open interest

Options

• Nifty PCR at 1.28 versus 1.26 (across all series)

Nifty Weekly Expiry: Nov. 14

• Max open interest on call side at 12,000 (25 lakh shares)
• Max open interest on put side at 11,900 (19.3 lakh shares)
• Open interest addition seen at 11,850P (6.8 lakh shares), 11,900P (+6.6 lakh shares), 12,150C (+5.8 lakh shares)

Nifty Monthly Expiry: Nov. 28

• Max open interest on call side at 12,000 (19.9 lakh shares)
• Max open interest on put side at 11,600 (20.6 lakh shares)

• Avanti Feeds promoter G Venkatesh sold 50,000 shares from Nov. 7-8
• Ultratech Cement promoter Aditya Marketing and Manufacturing sold 2.5 lakh shares on Nov. 6

(As Reported On Nov. 11)

• Reliance Power to move into ASM Framework
• Vikas EcoTech, JMT Auto, RattanIndia Infrastructure to move into short term ASM Framework
• Hindustan Construction Company, LG Balakrishnan & Bros, Shree Digvijay Cement, MSTC to move out of short term ASM Framework.

The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.44 percent to 71.78 against the greenback.

Indian equity benchmarks are set for a tepid start.

The S&P BSE Sensex rose 0.3 percent to 40,459 during the pre-market trade and the NSE Nifty 50 traded 0.15 percent higher at 11,926.

Earnings To Watch

• SpiceJet
• NALCO
• Lemon Tree Hotels
• RITES
• Thermax
• UFLEX
• Sadbhav Infrastructure Project
• Pidilite Industries
• Rain Industries
• Muthoot Finance
• Mphasis
• IRCTC
• Lux Industries
• MMTC
• Cadila Healthcare
• Cera Sanitaryware
• Dixon Technologies
• Bata India
• Oracle Financial Services Software
• Bharat Heavy Electricals
• IG Petrochemicals
• Fine Organic Industries
• Finolex Cables
• Blue Star
• Aarti Industries
• Deepak Fertilizers and Petrochemical
• ABB India
• Adani Green Energy
• Adani Power
• Ahluwalia Contracts
• Apex Frozen Foods
• Aries Agro
• Ashapura Minechem
• Ashiana Housing
• Ashoka Buildcon
• Borosil Glass Works
• Coffee Day Enterprises
• Cosmo Films
• Daichi Karkaria
• Electrotherm
• Emmbi Industries
• Galaxy Surfactants
• Goodyear India
• Gujarat Borosil
• Gujarat Mineral Development Corporation
• Himadri Speciality Chemical
• Hindusthan National Glass & Industries
• Housing & Urban Development Corporation
• Hubtown
• Ircon International
• ITD Cementation
• Jagran Prakashan
• Jai Corp
• Kaveri Seed
• KIOCL
• Morepen Laboratories
• Mukand Engineers
• Rashtriya Chemicals and Fertilizers
• Saregama India
• Sequent Scientific
• Seamec
• Sintex Industries
• Skipper
• SML ISUZU
• The New India Assurance Company
• Vakrangee
• Veto Switchgears And Cables
• Vipul
• Zydus Wellness

Earnings Reaction To Watch

Coal India (Q2, YoY)

• Revenue down 6.9 percent to Rs 20,382.6 crore (Estimate: Rs 19,220.3 crore)
• Net profit up 14.2 percent to Rs 3,522.7 crore (Estimate: Rs 2,336.9 crore)
• Ebitda down 16.5 percent to Rs 3611.2 crore (Estimate: Rs 3,164.7 crore)
• Margin at 17.7 percent versus 19.8 percent (Estimate: 15.9 percent)

Britannia (Q2, YoY)

• Revenue up 6.2 percent to Rs 3,048.8 crore (Estimate: Rs 3,041 crore)
• Net profit up 33.4 percent to Rs 404.2 crore (Estimate: Rs 365 crore)
• Ebitda up 8.3 percent to Rs 492.2 crore (Estimate: Rs 479 crore)
• Margin at 16.1 percent versus 15.8 percent (Estimate: 15.8 percent)

Adani Ports and SEZ (Q2, YoY)

• Revenue up 8.2 percent to Rs 2821 crore (Estimate: Rs 2,870 crore)
• Net profit up 74 percent to Rs 1054 crore (Estimate: Rs 975 crore)
• Ebitda up 5.2 percent to Rs 1791 crore (Estimate: Rs 1,766 crore)
• Margin at 63.5 percent versus 65.3 percent (Estimate: 61.5 percent)

Hindalco (Q2, YoY)

• Revenue down 8.1 percent to Rs 9965 crore (Estimate: Rs 10,107 crore)
• Net profit down 74.7 percent to Rs 78 crore (Estimate: Rs 97.01 crore)
• Ebitda down 27.4 percent to Rs 792 crore (Estimate: Rs 756.4 crore)
• Margin at 7.9 percent versus 10.1 percent

Aurobindo Pharma (Q2, YoY)

• Revenue up 18 percent to Rs 5600 crore
• Net profit up 5 percent to Rs 640 crore
• Ebitda up 14 percent to Rs 1167 crore
• Margin at 20.84 percent versus 21.6 percent

Mahanagar Gas (Q2, QoQ)

• Revenue up 3.7 percent to Rs 861.6 crore
• Net profit up 59 percent to Rs 270.6 crore
• Ebitda down 1.2 percent to Rs 273.5 crore
• Margin at 31.7 percent versus 33.3 percent

NMDC (Q2, YoY)

• Revenue down 8 percent to Rs 2241.8 crore
• Net profit up 10.5 percent to Rs 703.3 crore
• Ebitda down 15.8 percent to Rs 1060.2 crore
• Margin at 47.3 percent versus 51.7 percent

Embassy Office Parks REIT* (Q2)

• Revenue from operations up 15 percent to Rs 520.6 crore
• Net operating income up 16 percent to Rs 438.4 crore
• Declared Distribution of Rs 6 Per Unit (Record Date-Nov. 19)
• *Numbers Not Comparable

Phoenix Mills (Q2, YoY)

• Revenue up 2.6 percent to Rs 415.1 crore
• Net profit up 6.1 percent to Rs 65.8 crore
• Ebitda up 6.4 percent to Rs 210.8 crore
• Margin at 50.8 percent versus 48.9 percent

Metropolis Healthcare (Q2, YoY)

• Revenue up 15.6 percent to Rs 223.3 crore
• Net profit up 41 percent to Rs 43 crore
• Ebitda up 31 percent to Rs 62.6 crore
• Margin at 28 percent versus 24.8 percent

Sheela Foam (Q2, YoY)

• Revenue down 7.1 percent to Rs 497.3 crore
• Net profit up 2.4 times to Rs 58.7 crore
• Ebitda up 66 percent to Rs 70.4 crore
• Margin at 14.2 percent versus 7.9 percent

Shankara Building Products (Q2, YoY)

• Revenue down 1.7 percent to Rs 633.1 crore
• Net profit up 13.2 percent to Rs 10.3 crore
• Ebitda down 14.1 percent to Rs 26.7crore
• Margin at 4.2 percent versus 4.8 percent

Prestige Estates (Q2, YoY)

• Revenue up 46.6 percent to Rs 196.27 crore
• Net profit up 53.8 percent to Rs 15.72 crore
• Ebitda up 59.9 percent to Rs 64.97 crore
• Margin at 33 percent versus 30.4 percent

Adani Gas (Q2, YoY)

• Revenue up 8 percent to Rs 514.43 crore
• Net profit up 137 percent to Rs 120.06 crore
• Ebitda up 10.7 percent to Rs 147.44 crore
• Margin at 28.6 percent versus 28 percent

Adani Enterprises (Q2, YoY)

• Revenue down 6.9 percent to Rs 8626.94 crore
• Loss at Rs 49.50 crore versus profit at Rs 172 crore
• Ebitda down 2.15 percent to Rs 540.47 crore
• Margin at 6.26 percent versus 5.96 percent

Edelweiss Financial Services (Q2, YoY)

• Net interest income down 52 percent to Rs 280.18 crore
• Net profit down 75.4 percent to Rs 67.97 crore

Info Edge (Q2, YoY)

• Revenue up 16 percent to Rs 357.7 crore
• Loss at Rs 10.92 crore versus loss of Rs 3.7 crore
• Ebitda up 15.3 percent to Rs 118.32 crore
• Margin at 33 percent versus 33.3 percent

Abbott India (Q2, YoY)

• Revenue up 7.9 percent to Rs 1083.7 crore
• Net profit up 29.5 percent to Rs 178.33 crore
• Ebitda up 6.6 percent to Rs 233.03 crore
• Margin at 21.5 percent versus 21.76 percent

Cochin Shipyard (Q2, YoY)

• Revenue up 22.8 percent to Rs 1050.8 crore
• Net profit up 40.3 percent to Rs 206.33 crore
• Ebitda up 16.9 percent to Rs 284.58 crore
• Margin at 27 percent versus 28.4 percent

Aster DM Healthcare (Q2, YoY)

• Revenue up 12.8 percent to Rs 2091 crore
• Net profit down 71.7 percent to Rs 3.12 crore
• Ebitda up 75.7 percent to Rs 248.96 crore
• Margin at 11.9 percent versus 7.6 percent

Godrej Industries (Q2, YoY)

• Revenue down 2.54 percent to Rs 556.19 crore
• Net profit down 13.7 percent to Rs 32.98 crore
• Ebitda up 7 percent to Rs 120.65 crore
• Margin at 21.7 percent versus 19.7 percent

Sun TV (Q2, YoY)

• Revenue up 6.79 percent to Rs 900.74 crore
• Net profit up 1 percent to Rs 368.79 crore
• Ebitda down 11.8 percent to Rs 554.46 crore
• Margin at 61.5 percent versus 74.5 percent

CG Power (Q2, YoY)

• Revenue down 32.7 percent to Rs 977.12 crore
• Net profit down 94 percent to Rs 0.89 crore
• Ebitda down 43 percent to Rs 102.81 crore
• Margin at 10.5 percent versus 12.5 percent

Future Consumer (Q2, YoY)

• Revenue up 10.5 percent to Rs 1127.17 crore
• Loss at Rs 16.97 crore versus loss of Rs 3.69 crore
• Ebitda up 33.6 percent to Rs 45.3 crore
• Margin at 4.01 percent versus 3.3 percent

Aditya Birla Fashion And Retail (Q2, YoY)

• Revenue up 14.7 percent to Rs 2324.35 crore
• Loss at Rs 2.35 crore versus profit of Rs 42.73 crore
• Ebitda up 120 percent to Rs 355.79 crore
• Margin at 15.3 percent versus 7.97 percent

Sundaram Finance (Q2, YoY)

• Net interest income down 11.98 percent to Rs 324.28 crore
• Net profit up 9.12 percent to Rs 185.4 crore

Natco Pharma (Q2, YoY)

• Revenue down 11 percent to Rs 518.9 crore
• Net profit down 35 percent to Rs 117.7 crore
• Ebitda down 35.7 percent to Rs 167.5 crore
• Margin at 32 percent versus 44.6 percent

Sanofi India (Q2, YoY)

• Revenue up 4.7 percent to Rs 779.1 crore
• Net profit up 6.2 percent to Rs 126.6 crore
• Ebitda up 18.6 percent to Rs 281.2 crore
• Margin at 36 percent versus 31.9 percent

VA Tech Wabag (Q2, YoY)

• Revenue down 14.72 percent to Rs 641.59 crore
• Net profit down 24.39 percent to Rs 27.09 crore
• Ebitda up 5.8 percent to Rs 66.93 crore
• Margin at 10.43 percent versus 8.4 percent

Hotel Leela (Q2, YoY)

• Revenue down 12 percent to Rs 33.22 crore
• Net profit Rs 16.66 crore versus loss of Rs 66.57 crore
• Margin at -19.8 percent versus -11 percent

Vinati Organics (Q2, YoY)

• Revenue down 15 percent to Rs 256.26 crore
• Net profit up 33.5 percent to Rs 110 crore
• Ebitda down 15.6 percent to Rs 111.05 crore
• Margin at 43.3 percent versus 43.54 percent

Nagarjuna Fertilizers (Q2, YoY)

• Revenue up 25.4 percent to Rs 482.08 crore
• Loss at Rs 99.6 crore versus loss of Rs 172.4 crore

Repco Home (Q2, YoY)

• Net interest income up 6.47 percent to Rs 115.95 crore
• Net profit up 51 percent to Rs 100.6 crore

• Lupin: Board approved divestment of entire equity stake (99.82 percent) in company’s Japanese step down subsidiary Kyowa Pharma to Unis Capital Partners’ entity Plutus at an enterprise value of JPY 57,361 million or Rs 3702.4 crore. The proposed transaction is an all cash-transaction, subject to the terms of the definitive agreements executed among the parties. receipt of requisite approvals.
• Tata Power’s arm received a Letter of Award from Gujarat Urja Vikas Nigam Limited to develop a 50 MW solar project in Dholera Solar Park in Gujarat.
• Indian Hotels: Board approved acquisition of a hotel in Pune for Rs 108 crore, within the framework with Government of Singapore Investment Corporation. The company will make equity investment up to Rs 20 crore (representing 30 percent of equity) and the acquisition will be made by the JV company. Board also gave nod, subject to signing of definitive agreements, to acquire remaining 14.28 percent stake in Claridges Hotels’ arm and Excalibur for a consideration of Rs. 250 crore over a period of two years.
• Avanti Feeds said that the company and its arm Avanti Frozen Foods’ premises were searched by the Income Tax authorities from Nov. 7-11.
• NIIT buyback period from Nov. 25-Dec. 6. The company stated that it has receive final observations from SEBI on Draft Letter of Offer.
• Embassy Office Parks REIT has received an invitation of offer from Embassy Sponsor for potential sale of 6.2 million square feet of completed office premises and 2.5 million sq ft of under-construction area in Embassy TechVillage, Bengaluru.
• Balmer Lawrie: Board approved issuance of bonus shares in the ratio of 1:2 and proposal to capitalize Rs 57 crore out of the existing reserve and surplus for the company to issue the aforesaid bonus shares. Bonus shares would be credited by Jan. 10, tentatively. Board approved the Closure of Industrial Packaging-Kolkata unit & Technology and Product Development Centre-Kolkata on account of unit incurring substantial losses since the last several years. Record date for bonus issue set at Dec. 23.
• Punjab & Sind Bank: Shareholders approved issuing preference share worth Rs 787 crore to the Government of India.
• Reliance Communications: Board has postponed meeting to consider results from Nov. 12 to Nov. 15.
• Edelweiss Financial Services announced that PE firm Sanaka Capital along with co-investors will be investing up to $75 million into Edelweiss Global Investment Advisor, the group’s Investment Advisory business. Sanaka has committed to invest approximately $44 million in EGIA, while talks are on for a further investment of approximately $31 million in the business.
• Tata Motors Group global wholesales at 89,108 in October 2019, down 19 percent year-on-year. Global wholesales for Jaguar Land Rover were 47,278 vehicles. Jaguar wholesales for the month were 12,367 vehicles, while Land Rover wholesales for the month were 34,911 vehicles.
• Godrej Industries Board approves fund raising via issuance of unsecured NCDs/bonds/other instruments aggregating Rs 1,500 crore. Approved investment of up to RS 750 crore by way of subscription or purchase of securities or otherwise in Godrej Properties Ltd., its subsidiary.
• Career Point Publications Pvt. Ltd. to purchase IL&FS Group’s education business. Committee of Creditors approved sale of Schoolnet India Ltd., an IL&FS Group company, to CPPPL on Nov. 5. IL&FS Group holds 73.7 percent stake in Schoolnet India and Schoolnet holds 80 percent stake in IL&FS Skill Development Corporation and 2 other subsidiaries.
• Kesoram Industries: NCLT approves demerger of tyre business. Shareholders of Kesoram to get one share of Birla Tyres for each share held.
• Vinati Organics Board approved stock split in 1:2 ratio.
• Jaypee Infratech meeting of the Committee of Creditors to be held on Nov. 18, 2019
• Deep Industries won two contracts worth Rs 20.25 crore and Rs 28.49 crore from ONGC
• TCS expands partnership with Phoenix Group, Europe's largest life and pensions consolidator, to drive the growth and transformation of the Standard Life business and meet the future needs of its customers, workplace clients and their advisers.

• Oil ended slightly lower amid concern that U.S. President Donald Trump may expand his trade offensive, multiplying the economic headwinds already threatening global energy demand.
• The S&P 500 eked out a gain after retreating from a record on Tuesday.

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Good Morning!

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.27 percent to 11,912 as of 8:15 a.m.

Asian stocks fell on Wednesday as investors continued to weigh the likelihood of a partial U.S.-China trade deal as well as unrest in Hong Kong.

Hong Kong’s benchmark declined more than 1 percent. Japanese shares slipped along with those in South Korea, while early gains for Australian shares fizzled.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.