Sensex, Nifty Halt Longest Stretch Of Gains In Over Seven Months
Catch all the live updates on share prices, index moves, corporate announcements and more from Sensex and Nifty today.
KEY HIGHLIGHTS
Closing Bell: Sensex, Nifty Halt Longest Stretch Of Gains In Over Seven Months
Indian equity benchmarks halted their seven-day gaining streak, their longest stretch of gains since March 20.
The S&P BSE Sensex fell 0.13 percent to end at 40,248.23 and the NSE Nifty 50 fell 0.2 percent to close at 11,917.20. The broader markets represented by the NSE Nifty 500 Index fell 0.39 percent.
The market breadth was tilted in favour of sellers. About 1,093 stocks declined and 681 shares advanced on National Stock Exchange.
Ten out of 11 sectoral gauges compiled by NSE ended lower, led by the NSE Nifty Media Index’s 1.53 percent fall. On the flipside, the NSE Nifty FMCG Index was the top sectoral gainer, up 0.33 percent.
Fab Four Stocks Of The Day
Mahindra Holidays
- Stock rose as much as 8.2 percent to Rs 252.
- Revenue rose 7.7 percent to Rs 555.7 crore.
- Net profit stood at Rs 23.9 crore versus net loss of Rs 1.6 crore.
- Ebitda rose 3.9 times to Rs 99.6 crore.
- Margin stood at 17.9 percent versus 5 percent.
Future Enterprises
- Stock rose as much as 17.8 percent to Rs 29.50.
- Revenue up 6.1 percent to Rs 1,699.8 crore.
- Net profit at Rs 17 crore versus Rs 1.3 crore.
- Ebitda up 22.1 percent to Rs 444.7 crore.
- Margin at 26.2 percent versus 22.7 percent.
Indiabulls Housing Finance
- Stock rose as much as 6.3 percent to Rs 232.65.
- Fresh longs seen with high OI of 10 percent.
ITC
- Stock rose as much as 1.3 percent to Rs 264.
- Macquarie has maintained ‘Outperform’ rating on the stock with a price target at Rs 261.3
- Market share growth expected for cigarette and it will recover lost market share in near term.
Market Check: Sensex, Nifty Set To Halt Longest Gaining Streak In Over Seven Months
Indian equity benchmarks are set to halt their seven-day gaining streak, their longest stretch of gains since March 20.
The S&P BSE Sensex fell 0.12 percent to 40,250 as of 3 p.m. and the NSE Nifty 50 fell 0.19 percent to 11,917. The broader markets represented by the NSE Nifty 500 Index rose 0.37 percent.
Large Trade Alert: UPL
About 40 lakh shares of UPL changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Stocks Reacting To Results Announcement
Future Enterprises (Q2, YoY)
- Stock rose as much as 17.8 percent to Rs 29.50.
- Revenue up 6.1 percent to Rs 1,699.8 crore.
- Net profit at Rs 17 crore versus Rs 1.3 crore.
- Ebitda up 22.1 percent to Rs 444.7 crore.
- Margin at 26.2 percent versus 22.7 percent.
Apollo Tyres (Q2, YoY)
- Stock fell as much as 2.3 percent to Rs 181.20.
- Revenue down 6.3 percent to Rs 3,986 crore.
- Net profit down 43.2 percent to Rs 83 crore.
- Ebitda down 7.5 percent to Rs 432 crore.
- Margin at 10.8 percent versus vs 11 percent.
NCC (Q2, YoY)
- Stock fell as much as 5.8 percent to Rs 54.65.
- Revenue down 44.2 percent to Rs 1,732 crore.
- Net profit down 36.3 percent to Rs 80.04 crore.
- Ebitda down 36.2 percent to Rs 233.02 crore.
- Margin at 13.4 percent versus 11.7 percent.
Berger Paints (Q2, YoY)
- Stock fell as much as 2.4 percent to Rs 491.05.
- Revenue up 7 percent to Rs 1,599 crore.
- Net profit up 67 percent to Rs 195 crore.
- Ebitda up 13.6 percent to Rs 251 crore.
- Margin at 15.7 percent versus 14.8 percent.
- Bottomline aided by deferred tax credit of Rs 17.5 crore in the current quarter.
Global Markets Update: Europe Stocks Trade Mixed
European stocks were mixed and U.S. index futures climbed as investors kept an eye on signs America and China are inching toward a trade deal.
- Futures on the S&P 500 Index increased 0.2 percent
- The Stoxx Europe 600 Index was little changed.
- The Shanghai Composite Index advanced 0.5 percent.
- The MSCI Emerging Market Index gained 0.5 percent.
Get your daily fix of global markets here.
Source: Bloomberg
From Bloomberg: Qatar Airways CEO Says Won’t Be Buying Stake In IndiGo
Qatar Airways CEO Al Baker says:
- Plan is for commercial deal with IndiGo.
- Planned IndiGo tie-up will be a code-share accord.
- Won’t be buying a stake in IndiGo
Source: Bloomberg
Dabur Near Two-Week High After Q2 Results Announcement
Shares of Dabur India rose as much as 2.8 percent to trade near a two-week high at Rs 473.45 after the company announced its September quarter results.
Key Earnings Highlights (Q2, YoY)
- Revenue up 8 percent to Rs 2,294 crore (Estimate: Rs 2,264 crore)
- Net profit up 7.2 percent to 404 crore (Estimate: Rs 405 crore)
- Ebitda up 27 percent to Rs 572 crore (Estimate: Rs 482 crore)
- Gross margin up 320 basis points to 52.6 percent.
- Volume growth at 4.8 percent (Estimate: 4.5-6.5 percent)
PNB Falls After Q2 Results
Shares of Punjab National Bank fell as much as 2.8 percent to Rs 66.30 after the company announced September quarter results.
Key Earnings Highlights (Q2, YoY)
- Net interest income up 7.29 percent to Rs 4,263.84 crore.
- Net profit at Rs 507.05 crore versus loss of Rs 4532.35 crore.
- Gross NPAs at 16.76 percent versus 16.49 percent (QoQ)
- Net NPAs at 7.65 percent versus 7.17 percent (QoQ)
- Provisions at Rs 2,928.90 crore versus Rs 2,023.31 crore (QoQ)
- Operating profit at Rs 3,561.95 crore versus Rs 2,839.50 crore.
Market Check: Sensex, Nifty At Day’s Low
Indian equity benchmarks extended declines to trade at day’s low.
The S&P BSE Sensex fell 0.48 percent to 40,105 and the NSE Nifty 50 fell 0.55 percent to 11,874 as of 1:20 p.m. The broader markets represented by the NSE Nifty 500 Index fell 0.68 percent.
Large Trade Alert: Motherson Sumi
About 28.6 lakh shares of Motherson Sumi changed hands in a large trade, Bloomberg data showed. Buyers and sellers were not known immediately.
Suzuki Lowers Sales Guidance
Godrej Properties Q2 Profit, Revenue Miss Estimates, Shares Fall 4%
Shares of Godrej Properties fell as much as 3.8 percent to Rs 948.20 after its September quarter’s revenue and net profit missed Bloomberg estimates.
Key Earnings Highlights (Q2, YoY)
- Revenue down 34.0 percent to Rs 259.67 crore. (Bloomberg Estimate: Rs 467 crore)
- Net profit up 50 percent to Rs 30.78 crore. (Bloomberg Estimate: Rs 46.54 crore)
- Ebitda profit at Rs 24.7 crore versus Ebitda los of Rs 11.64 crore.
- Margin at 9.5 percent.
- Other income at Rs 135.4 crore versus Rs 93.8 crore.
Zee Entertainment Extends Decline, Shares Fall 4%
Shares of Zee Entertainment extended declines for the second consecutive trading session. The stock fell as much as 3.7 percent to Rs 285.10.
“Subhash Chandra may lose control of the company as a clutch of asset managers, non-bank lenders and foreign portfolio investors, which had extended loans to Zee’s promoter group companies against share pledges, plans to put their pledged shares in an escrow account in preparation for a sale,” Mint reported quoting three people familiar with the matter.
Large Trade Alert: Axis Bank, Bank Of Baroda, Max India
- Axis Bank: About 12.2 lakh shares of the company changed hands in a large trade.
- Bank of Baroda: About 25 lakh shares of the company changed hands in a large trade.
- Max India: About 20.7 lakh shares of the company changed hands in a large trade.
Varun Beverages Surges To Record High
Shares of Varun Beverages extended gains for the second consecutive trading session. The stock rose as much as 11.1 percent to hit an all-time high at Rs 702.
The company remained a preferred pick at CLSA given strong pace of growth, upside from recent acquisitions and financial leverage, according to Bloomberg report.
Trading volume was five times its 20-day average, according to Bloomberg data. The stock rose nearly 10 percent in the past five days and advanced 11 percent in the past 30 days.
Dalmia Bharat Gains After Large Trade
Shares of Dalmia Bharat rose 1.5 percent to Rs 824.80.
About 18 lakh shares of the company changed hands in a large trade Bloomberg data showed. Buyers and sellers were not known immediately.
Of the shares traded, 64 percent were at the ask price and 17 percent were at the bid, according to Bloomberg data. The stock traded at 39 times its estimated earnings per share for the coming year.
InterGlobe Aviation Rebounds On Report To Make Strategic Announcement With Qatar Airways
Shares of the budget airline operator swung to a gain of as much as 3.8 percent from a drop of as much as 1.7 percent.
The company’s Chief Executive Officer Ronojoy Dutta and Qatar Airways CEO Akbar Al Baker will address the media at a news conference in New Delhi on Nov. 7, Bloomberg reported quoting an emailed invite for the event.
Sectoral Indices Check: Nifty PSU Bank Index Best NSE Sectoral Performer
Six out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty PSU Bank Index’s 1.5 percent gain. On the flipside, the NSE Nifty Media Index was the worst sectoral performer, down 0.53 percent.
Market Check: Sensex, Nifty Subdued
Indian equity benchmarks fluctuated between gains and losses.
The S&P BSE Sensex and the NSE Nifty 50 traded little changed at 40,321 and 11,939 respectively as of 11 a.m. The broader markets represented by the NSE Nifty 500 Index also traded flat.
Services PMI At 49.2 In October
The IHS Markit India Services Business Activity Index stood at 49.2 last month. The Index stood at 48.7 in September. A reading above 50 indicates economic expansion, while a reading below it signals contraction.
Large Trade Alert: Bharat Electronics, Dishman Carbogen, GAIL
- Bharat Electronics: About 10 lakh shares changed hands in a large trade.
- Dishman Carbogen: About 13 lakh shares changed hands in a large trade.
- GAIL India: About 37 lakh shares changed hands in a large trade.
Buyers and sellers were not known immediately.
Source: Bloomberg
Stocks Reacting To Results Announcement
TCI Express (Q2, YoY)
- Stock rose as much as 1.9 percent to Rs 789.90.
- Revenue rose 9 percent to Rs 269.5 crore.
- Net profit rose 60.1 percent to Rs 26.1 crore.
- Ebitda rose 12.5 percent to Rs 30.7 crore.
- Margin stood at 11.4 percent versus 11 percent.
Persistent Systems (Q2, QoQ)
- Stock rose as much as 2 percent to Rs 610.
- Dollar revenue rose 5 percent to 125.5 million.
- Revenue rose 6.3 percent to Rs 884.6 crore.
- Net profit rose 4.4 percent to Rs 86.1 crore.
- EBIT fell 3 percent to Rs 77.3 crore.
- Margin stood at 8.7 percent versus 9.6 percent.
Bharat Electronics (Q2, YoY)
- Stock fell as much as 6.2 percent to Rs 112.15.
- Revenue fell 19 percent to Rs 2,748.3 crore.
- Net profit fell 40.9 percent to Rs 343.9 crore.
- Ebitda fell 36.3 percent to Rs 548.6 crore.
- Margin stood at 20 percent versus 25.4 percent.
- Order Book stood at Rs 56,178 crore as On Oct. 1.
SRF (Q2, YoY)
- Stock rose as much as 4.6 percent to Rs 3,064.70.
- Revenue fell 1 percent to Rs 1,737.8 crore.
- Net profit rose 2 times at Rs 301.1 crore.
- Ebitda rose 5.6 percent at Rs 335.2 crore.
- Margin stood at 19.3 percent versus 18.1 percent.
Mahindra Holidays & Resorts (Q2, YoY)
- Stock rose as much as 8.2 percent to Rs 252.
- Revenue rose 7.7 percent to Rs 555.7 crore.
- Net profit stood at Rs 23.9 crore versus net loss of Rs 1.6 crore.
- Ebitda rose 3.9 times to Rs 99.6 crore.
- Margin stood at 17.9 percent versus 5 percent.
Sudarshan Chemical (Q2, YoY)
- Stock rose as much as 6.8 percent to Rs 435.
- Revenue rose 10.3 percent to Rs 400.3 crore.
- Net profit rose 87.8 percent to Rs 46.2 crore.
- Ebitda rose 35.7 percent to Rs 63.1 crore.
- Margin stood at 15.8 percent versus 12.8 percent.
- Other Expenses fell 7 percent to Rs 74.4 crore.
Godrej Agrovet (Q2, YoY)
- Stock fell as much as 4.9 percent to Rs 493.50.
- Revenue rose 16.5 percent to Rs 1851.1 crore.
- Net profit rose 10.4 percent to Rs 104 crore.
- Ebitda fell 14.9 percent to Rs 119.7 crore.
- Margin stood at 6.5 percent versus 8.9 percent.
Intellect Design Arena (Q2, QoQ)
- Stock fell as much as 18.2 percent to Rs 153.
- Revenue fell 4.8 percent to Rs 326.6 crore.
- Net loss stood at Rs 16.1 crore versus net profit of Rs 3.4 crore.
- Ebitda loss stood at Rs 5.8 crore versus EBITA of Rs 11.6 crore.
- Employee expenses rose 4 percent to Rs 218.1 crore.
Indian Overseas Bank (Q2, YoY)
- Stock fell as much as 14.2 percent to Rs 10.30.
- Net interest income stood flat at Rs 1,203.9 crore.
- Net loss stood at Rs 2,253.6 crore versus net loss of Rs 487.3 crore.
- Provisions rose 49 percent at Rs 2,996 crore.
- Gross non-performing asset stood at 20 percent versus 22.53 percent QoQ.
- Net NPA at 9.84 percent versus 11.04 percent QoQ.
HSIL (Q2, YoY)
- Stock rose as much as 12.9 percent toRs 59.90.
- Revenue fell 24.5 percent to Rs 469.9 crore.
- Net profit rose 3.2 times to Rs 15 crore.
- Ebitda rose 42.9 percent to Rs 73.6 crore.
- Margin stood at 15.7 percent versus 8.3 percent.
CARE Ratings (Q2, YoY)
- Stock rose as much as 4.3 percent to Rs 554.95.
- Revenue fell 26 percent to Rs 71.6 crore.
- Net profit fell 19.3 percent to Rs 36.7 crore.
Sun Pharma Falls After Unit Taro Pharma Announces Q2 Results
Shares of Sun Pharmaceutical Industries fell as much as 1.6 percent to Rs 431.05 after the company’s unit Taro Pharma announced its second quarter results.
Key Earnings Highlights (Q2, YoY)
- Net sales up 1 percent to at $160.9 million.
- Net profit down 11 percent to $56.2 million.
- Operating profit down 20 percent to $62.6 million.
- Margin at 38.9 percent versus 49.5 percent.
Bajaj Finance Gains After Launching QIP
Shares of Bajaj Finance rose as much as 2.4 percent to Rs 4,210.
The company launched its QIP Issue with floor price at Rs 4,019.78 per share. The floor price is at a discount of 2.3 percent to the previous closing price. The company will hold a meeting on Nov. 7 to approve the issue price which will be allotted to QIP buyers.
The stock extended gains for the fourth consecutive trading session. The scrip returned 58 percent so far this year and advanced 77.1 percent in the past 12 months.
Yes Bank Jumps 9% After Rakesh Jhunjhunwala Buys Stake
Shares of Yes Bank rose as much as 8.8 percent to Rs 71.90 on Bombay Stock Exchange
This after veteran investor Rakesh Jhunjhunwala purchased about 1.3 crore shares of the private lender at around Rs 87 crore, according to data available on BSE.
Trading volume was more than two times its 20-day average, according to Bloomberg data. Of the shares traded, 46 percent were at the ask price and 42 percent were at the bid.
Opening Bell: Sensex, Nifty Swing In Open
Indian equity indices fluctuated between gains and losses in the opening trade after gaining for seven consecutive trading sessions.
The S&P BSE Sensex rose as much as 0.41 percent to 40,466.55 and the NSE Nifty 50 rose as much as 0.32 percent to 11,978.95. The broader markets represented by the NSE Nifty 500 Index rose 0.11 percent.
The market breadth was tilted in favour of buyers. About 868 stocks advanced and 556 shares declined on National Stock Exchange.
Seven out of 11 sectoral gauges compiled by NSE traded higher, led by the NSE Nifty Metal Index’s 0.68 percent gain. On the flipside, the NSE Nifty FMCG Index was the top sectoral loser, down 0.44 percent.
Your Complete F&O Trade Setup
Index Futures
- Nifty November futures closed at 11979.7, premium of 38.4 points versus 37.6 points.
- Nifty November Futures open interest up 1 percent, adds 1.1 lakh shares in open interest.
- Nifty Bank November futures closed at 30,396, premium of 62.9 points versus 43.6 points.
- Nifty Bank November futures series open interest up 12 percent, adds 1.1 lakh shares in open interest.
Options
- Nifty PCR at 1.43 versus 1.41 (across all series).
Nifty Weekly Expiry: Nov. 7
- Max open interest on call side at 12,000 (24.6 lakh shares).
- Max open interest on put side at 11,800 (21.5 lakh shares).
- open interest addition seen at 11,900P (+4.8 lakh shares), 11,950C (+3.7 lakh shares).
Nifty Monthly Expiry: Nov. 28
- Max open interest on call side at 12,000 (18.3 lakh shares).
- Max open interest on put side at 11,600 (19.1 lakh shares).
BQ Heads-Up: How Indian ADRs Fared Overnight
BQ Heads-Up: Who's Meeting Whom
- Mahindra & Mahindra to meet Vaughan Nelson Investment Management on Nov. 12.
- PNB Housing Finance to meet ICICI Securities and JM Financial from Nov. 6-7.
BQ Heads-Up: Trading Tweaks
- Bharat Gears, Shalby, Patel Engineering, Reliance Power, Vakrangee to move into short term ASM Framework.
- Newgen Software Technologies, GSS Infotech to move out of short term ASM Framework.
- Bharat Gears, Uniply Industries, RPG Life Sciences price band revised to 10 percent.
- Uniply Décor, Astron Paper & Board Mill price band revised to 5 percent.
Money Market Update: Rupee Opens Lower
The Indian rupee opened lower against the U.S. dollar. The home currency depreciated as much as 0.11 percent to 70.84 against the greenback.
Pre-Market Check: Sensex, Nifty Set To Open Higher
Indian equity indices are set to open higher.
The S&P BSE Sensex rose 0.68 percent to 40,554 during the pre-market and the NSE Nifty 50 rose 0.33 percent to 11,988.
Stocks To Watch: Adani Transmission, Bajaj Finance, M&M, SRF
- Bajaj Finance launched its QIP Issue, with floor price set at Rs 4,019.78 each. Floor price is at a discount of 2.3 percent to the closing prices On Nov. 4. Meeting to be held on Nov. 7 to approve the issue price which will be allotted to QIP buyers.
- SRF: Board approved capex of Rs 40 crore to expand the capacity for production of a high-volume specialty product that finds application in agro, pharma and other specialty industries. Board also approved a capital expenditure for capacity enhancement cum modernisation of the Tyre Cord Fabric value chain at an estimated cost of Rs 125 crore. This is an enhancement of the capex of Rs 81 crore approved by the Board at its meeting held on Feb. 4. Company also approved the setting up of a BOPP film line in Thailand by company’s Thailand arm at a cost of $50 million, or Rs 350 crores.
- Mahindra & Mahindra has offered pro-active inspection and replacement of suspension component on a limited batch of XUV300 vehicles manufactured till May 19. Inspection and rectification will be done free of cost.
- Tata Steel’s arm to sell its entire stake of 56.5 percent in a Vietnamese based NatSteel Vina for Rs 36 crore to Thai Hung Trading.
- SMS Lifesciences said that they are confident of manufacturing Ranitidine HCL well within the new limits set by the U.S. Food and Drug Administration.
- Sical Logistics: RBL Bank has invoked pledge of 1.65 lakh shares held by the company in its arm Sical Logixpress provided as security for the financial facilities for the arm.
- Lupin clarified on the news of sale of its Japanese arm stating that the company in normal course of business regularly evaluated various strategic business plans and proposals.
- Adani Transmission to consider raising funds via USD Foreign Currency Bond, increasing limits for ECBs and to approve buyback of non-convertible debentures and Masala Bonds on Nov. 7.
- Tata Power has created a new arm to set up 10,000 Microgrids in India by 2026. TP Renewable Microgrid will be setup in collaboration with Rockefeller Foundation.
- Emami: Promoters hold 52.74 stake in the company, out of which 66.55 percent of their stake is pledged.
- Karur Vysya Bank revised MCLR across various tenors with effect from November 7. One- month MCLR at 8.45 percent and one-year MCLR at 9.45 percent.
- Torrent Pharma clarified that promoters have not pledged any equity shares they hold in the company for any purpose. The promoters are obligated by certain covenants agreed by the company in loan agreement executed with various lenders in which the promoters shall continue to hold management control during the period such loans are outstanding.
- IL&FS Transportation Networks defaulted in payment of debenture interest worth Rs 2.29 crore which was due on Nov. 4.
- PNB Housing Finance to allot NCDs worth Rs 2,500 crore on Nov. 7. The Board will consider raising funds on Nov. 7.
Q2 Earnings Corner: Bharat Electronics, Berger Paints, Godrej Properties, REC, Tech Mahindra, Titan Company
Nifty Earnings To Watch
- Tech Mahindra
- Titan Company
Other Earnings To Watch
- Jindal Steel & Power
- REC
- Godrej Properties
- Berger Paints
- Dabur
- Divi's Laboratories
- Future Enterprises
- Ajanta Pharma
- Apollo Tyres
- BEML
- Ballarpur Industries
- Titagarh Wagons
- Torrent Power
- Transport Corporation of India
- GATI
- Birla Corporation
- NCC
- Prism Johnson
- Procter & Gamble Hygiene and Health Care
- Punjab National Bank
- Cholamandalam Investment and Finance Company
- Cimmco
- Redington
- GE T&D India
- Gillette India
- Greaves Cotton
- Grindwell Norton
- GTL Infrastructure
- Gujarat Gas
- Gujarat Narmada Valley Fertilizers and Chemicals
- HCL Infosystems
- Indo Rama Synthetics
- JMC Projects
- National Fertilizers
- Shyam Century Ferrous
- Sandhar Technologies
- Star Cement
- V.S.T Tillers Tractors
Earnings Reactions To Watch
Taro Pharma (Sun Pharma’s Subsidiary) (Q2, YoY)
- Net sales up 1 percent to at $160.9 million.
- Net profit down 11 percent to $56.2 million.
- Operating profit down 20 percent to $62.6 million.
- Margin at 38.9 percent versus 49.5 percent.
TCI Express (Q2, YoY)
- Revenue rose 9 percent to Rs 269.5 crore.
- Net profit rose 60.1 percent to Rs 26.1 crore.
- Ebitda rose 12.5 percent to Rs 30.7 crore.
- Margin stood at 11.4 percent versus 11 percent.
Persistent Systems (Q2, QoQ)
- Dollar revenue rose 5 percent to 125.5 million.
- Revenue rose 6.3 percent to Rs 884.6 crore.
- Net profit rose 4.4 percent to Rs 86.1 crore.
- EBIT fell 3 percent to Rs 77.3 crore.
- Margin stood at 8.7 percent versus 9.6 percent.
Bharat Electronics (Q2, YoY)
- Revenue fell 19 percent to Rs 2,748.3 crore.
- Net profit fell 40.9 percent to Rs 343.9 crore.
- Ebitda fell 36.3 percent to Rs 548.6 crore.
- Margin stood at 20 percent versus 25.4 percent.
- Order Book stood at Rs 56,178 crore as On Oct. 1.
SRF (Q2, YoY)
- Revenue fell 1 percent to Rs 1,737.8 crore.
- Net profit rose 2 times at Rs 301.1 crore.
- Ebitda rose 5.6 percent at Rs 335.2 crore.
- Margin stood at 19.3 percent versus 18.1 percent.
Mahindra Holidays & Resorts (Q2, YoY)
- Revenue rose 7.7 percent to Rs 555.7 crore.
- Net profit stood at Rs 23.9 crore versus net loss of Rs 1.6 crore.
- Ebitda rose 3.9 times to Rs 99.6 crore.
- Margin stood at 17.9 percent versus 5 percent.
Sudarshan Chemical (Q2, YoY)
- Revenue rose 10.3 percent to Rs 400.3 crore.
- Net profit rose 87.8 percent to Rs 46.2 crore.
- Ebitda rose 35.7 percent to Rs 63.1 crore.
- Margin stood at 15.8 percent versus 12.8 percent.
- Other Expenses fell 7 percent to Rs 74.4 crore.
Godrej Agrovet (Q2, YoY)
- Revenue rose 16.5 percent to Rs 1851.1 crore.
- Net profit rose 10.4 percent to Rs 104 crore.
- Ebitda fell 14.9 percent to Rs 119.7 crore.
- Margin stood at 6.5 percent versus 8.9 percent.
Intellect Design Arena (Q2, QoQ)
- Revenue fell 4.8 percent to Rs 326.6 crore.
- Net loss stood at Rs 16.1 crore versus net profit of Rs 3.4 crore.
- Ebitda loss stood at Rs 5.8 crore versus EBITA of Rs 11.6 crore.
- Employee expenses rose 4 percent to Rs 218.1 crore.
Indian Overseas Bank (Q2, YoY)
- Net Interest Income stood flat at Rs 1,203.9 crore.
- Net loss stood at Rs 2,253.6 crore versus net loss of Rs 487.3 crore.
- Provisions rose 49 percent at Rs 2,996 crore.
- Gross non-performing asset stood at 20 percent versus 22.53 percent QoQ.
- Net NPA at 9.84 percent versus 11.04 percent QoQ.
HSIL (Q2, YoY)
- Revenue fell 24.5 percent to Rs 469.9 crore.
- Net profit rose 3.2 times to Rs 15 crore.
- Ebitda rose 42.9 percent to Rs 73.6 crore.
- Margin stood at 15.7 percent versus 8.3 percent.
CARE Ratings (Q2, YoY)
- Revenue fell 26 percent to Rs 71.6 crore.
- Net profit fell 19.3 percent to Rs 36.7 crore.
BQ Heads-Up: Key Data To Watch
- 10:30 a.m.: Markit India PMI Services for Oct., prior 48.7
- 10:30 a.m.: Markit India PMI Composite for Oct., prior 49.8
Global Markets Update: U.S. Stocks End At Record high
- U.S. stock benchmarks climbed to all-time highs, while Treasuries tumbled as trade optimism fuelled demand for risk assets.
- Oil held near a one-week high in early Asia trading as investors digested signals that a U.S.-China trade deal is imminent.
Get your daily fix of global markets here.
SGX Nifty Suggests Tepid Start; Asian Stocks Trade Mixed
Good Morning!
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index’s performance in India, fell 0.09 percent to 11,974 as of 8:30 a.m.
Asian stocks were mixed on Tuesday despite further records on Wall Street overnight, spurred by signs of the U.S. and China inching toward a trade deal.
Stocks opened higher in Tokyo after a holiday on Monday, and were little changed in Seoul, Sydney and Shanghai. Hong Kong shares slipped.