Stock Market Today: Sensex, Nifty End 1% Lower As Banks Drag After RBI Maintains Status Quo

Market breadth was skewed in favour of sellers. Around 2,176 stocks rose, 1,666 stocks fell, and 103 stocks remained unchanged on BSE.

• Revenue at Rs 1,228.8 crore vs Rs 1,200 crore, up 2.4%

• Ebitda at Rs 229.71 crore vs Rs 192.75 crore, up 19.17%

• Margin at 18.69% vs 16.06%

• Net profit at Rs 152.4 crore vs Rs 123.7 crore, up 23.2%

• Revenue up 25.4% at Rs 1,230.4 crore vs Rs 981.2 crore

• EBITDA up 39% at Rs 184.5 crore vs Rs 132.8 crore

• Margin at 15% vs 13.5%

• Net profit up 97.2% at Rs 91.3 crore vs Rs 46.3 crore

• Revenue down 6.2% to Rs 337.5 crore from Rs 359.8 crore

• EBITDA of Rs 80.89 crore vs EBITDA loss of Rs 129.9 crore

• Margin at 24%

• Net loss of Rs 194.6 crore vs loss of Rs 463.6 crore

• ASK Auto Automotive will enter into two-wheeler alloy wheels segment.

• The company partnered up with LIOHO Machine Works Limited, Taiwan to develop a new product line, and technical assistances.

• The partnership is spanned over seven years.

Source: Exchange Filings

• Zydus Lifesciences received approval from the U.S. Food and Drug Adminstration for Dexamethasone Tablets.

• Alert: Dexamethasone Tablets is a generic of Decadron Tablets

Source: Exchange Filing

• Revenue at Rs 2,324.4 crore vs Rs 2,049.3 crore, up 13.4%

• Ebitda at Rs 187.45 crore vs Rs 161.09 crore, up 16.4%

• Margin at 8.06% vs 7.86%

• Net profit at Rs 237.1 crore vs Rs 126.4 crore, up 87.6%

In pact to supply seat-trim to KIA

Source: Exchange Filing

• Revenue at Rs 804.83 crore vs Rs 703.67 crore, up 14.37%

• Ebitda at Rs 38.67 crore vs Rs 32.69 crore, up 18.29%

• Margin at 4.8% vs 4.64%

• Net profit at Rs 18.05 crore vs Rs 15.14 crore, up 19.22%

• Revenue up 39.9% at Rs 453.6 crore vs Rs 324.4 crore

• EBITDA up 67% at Rs 75.1 crore vs Rs 44.98 crore

• Margin up 268 bps at 16.6% vs 13.9%

• Net profit up 83.8% at Rs 55.88 crore vs Rs 30.4 crore

• Revenue at Rs 428.8 crore vs Rs 367.9 crore, up 16.6%

• Ebitda at Rs 61.2 cr vs Rs 51.2 cr, up 19.4%

• Margin at 14.3% vs 13.9%, up 34 bps

• Net profit at Rs 34.6 crore vs Rs 27.7 crore, up 24.9%

• Revenue up 1% at Rs 1,047 crore vs Rs 1,037 crore

• EBITDA down 37.5% at Rs 55.88 crore vs Rs 89.44 crore

• Margin down 328 bps at 5.3% vs 8.6%

• Net profit down 27.3% at Rs 48.2 crore vs Rs 66.3 crore

• Clarifies on media report of SBI selling stake in bank via block deal

• Calls news report 'speculative', says bank not involved in any negotiations with respect to the news item

Source: Exchange filing

• Revenue up 15.5% at Rs 138.6 crore vs Rs 120 crore

• EBITDA up19.7% at Rs 25.35 crore vs Rs 21.18 crore

• Margin at 18.3% vs 17.6%

• Net loss of Rs 23.55 crore vs profit of Rs 5.04 crore

• Revenue at Rs 192.84 crore vs Rs 190.41 crore, up 1.27%

• Ebit at Rs 30.13 crore vs Rs 31.12 crore, down 3.19%

• Margin at 15.62% vs 16.34%, down 71 bps

• Net profit at Rs 22.54 crore vs Rs 25.28 crore, down 10.83%

• Revenue at Rs 1,005.6 crore vs Rs 993 crore, up 1.3%

• Ebitda at Rs 178.5 crore vs Rs 170.6 crore, up 4.7%

• Margin at 17.75% vs 17.17%, up 57 bps

• Net profit at Rs 135.23 crore vs Rs 124.8 crore, up 8.4%

• Revenue up 43.4% at Rs 1,653.5 crore vs Rs 1,152.8 crore

• EBITDA of Rs 23.45 crore vs EBITDA loss of Rs 11.12 crore

• Margin at 1.41%

• Net profit of Rs 187.3 crore vs loss of Rs 34.6 crore

• Revenue up 62.9% at Rs 1,251.7 crore vs Rs 768.5 crore

• EBITDA up 22.4% at Rs 49.1 crore vs Rs 40.13 crore

• Margin down 129 bps at 3.9% vs 5.2%

• Net profit up 75.4% at Rs 49.1 crore vs Rs 28 crore

The scrip fell as much as 5.52% to Rs 462.70 piece, the lowest level since May 19. It pared gains to trade 3.2% lower at Rs 417.90 apiece, as of 1:20 p.m. This compares to a 0.6% decline in the NSE Nifty 50 Index.

It has fallen 11.38% in the last twelve months. Total traded volume so far in the day stood at 2.6 times its 30-day average. The relative strength index was at 24.80, indicating that the stock may be oversold.

• Revenue up 29.6% at Rs 665.4 crore vs Rs 513.5 crore

• EBITDA at Rs 35.4 crore vs Rs 3.11 crore

• Margin up 471 bps at 5.32% vs 0.6%

• Net profit at Rs 45.6 crore vs loss of Rs 5.7 crore

• Revenue down 3.2% at Rs 403.2 crore vs Rs 416.4 crore

• EBITDA down 55.7% at Rs 12.9 crore vs Rs 29.1 crore

• Margin down 378 bps at 3.2% vs 7%

• Net profit down 98.5% at Rs 0.3 cr vs Rs 19.6 crore

Shares of General Insurance Corporation Ltd. rose on Thursday after it reported a jump in the third quarter consolidated net profit.

The scrip rose as much as 15.81% to hit fresh life high of 467.80. The last life high was on Oct. 24, 2017. It pared gains to trade 12.89% higher at Rs 456 apiece, as of 11:18 a.m. This compares to a 0.82% decline in the NSE Nifty 50 Index.

It has risen 185.80% in the last 12 months. Total traded volume so far in the day stood at 14 times its 30-day average. The relative strength index was at 78 indicating it was overbought.

Out of five analysts tracking the company, two maintain a 'buy' rating and three suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 190.5%.

In pact to modernise IT infrastructure, digital workplace

Source: Exchange Filing

• 11.1 lakh shares changed hands in a large trade

• 0.01% equity changed hands at Rs 74.5 apiece

• Buyers and sellers not known immediately

Source: Bloomberg

• Price target of Rs. 2,700

• Slower growth in Q4 revenue driven by pricing and mix

• Some pricing/distribution upside could taper going forward

• Volume rebound may be key to sustain growth

• As company approaches its medium term target it may get into consolidation mode

RBI Monetary Policy Live: Repo Rate Unchanged At 6.5%, FY25 GDP Growth Seen At 7%

The yield on the 10-year bond trade flat at 7.07%.

Source: Bloomberg

The scrip rose as much as 10% to Rs 2,639.50 piece, its lifetime high level. It pared gains to trade 5.6% higher at Rs 2,534.90 apiece, as of 10:01 a.m. This compares to a 0.17% advance in the NSE Nifty 50 Index. It has risen 72.75% in the last twelve months.

Source: Exchange filing

• Q3 6% YoY revenue growth in line with brokerage estimates

• KNPL expects double-digit volume growth in Decorative to sustain in FY25

• Price cuts of 2.7% price cuts to moderate value growth in near term

• Cut FY24F/25F/26F EPS by 1%/4%/3% to factor in Q3 results

• Key risk: Slower decorative, industrial paints volume growth

• 4.63% equity changed hands in multiple pre-market large trades

• Buyers and sellers not known immediately

Source: Bloomberg

• HCL Tech hits fresh record high at Rs 1,639.9

• Cipla hits fresh record high at Rs 1,454

• SBI hits fresh record high at Rs 684.55

• Sun Pharma hits fresh record high at Rs 1,505

• Dr Reddy's Lab hits fresh record high at Rs 6,219.95

• BPCL hits fresh record high at 621.7

At pre-open, the S&P BSE Sensex Index was up 318.82 points, or 0.44%, at 72,470.82 while the NSE Nifty 50 was at 22,009.65, up 79.15 points or 0.36%.

• The local currency strengthened 3 paise to open at 82.94 against the U.S dollar on Thursday.

• It closed at 82.97 on Wednesday

Source: Bloomberg

The yield on the 10-year bond opened flat at 7.07% on Thursday

Source: Bloomberg

• 55% of 11 covered stocks beat/met Q3 expectations

• Margin rise of 70 bps on easing commodity prices, except for UPL

• Pipes saw highest YoY margin rise of 220bps on stabilized PVC prices

• Discretionary demand softness affected B2C mix for Havells, Polycab, and Whirlpool

• Bullish on capex & housing theme, and EMS

• Top Picks: Supreme Industies, Amber Enterprise, Kajaria Ceramics

• Cautious on White Goods- Havells, Whirpool and high-PE stocks- Dixon Tech and Astral

• Australian customer invokes outstanding bank guarantee amounting to Rs 89.7 crore

• Complete funds have been transferred to the guarantee issuing bank

• Australian customer issued a notice terminating EPC and O&M contract

• Notice from Australian customer strongly refuted by co's subsidiary

• Subsidiary will initiate legal actions against Australian customer

Source: Exchange filing

Motilal Oswal Maintains BUY On Nestle India; Target At Rs 2400 On Expensive Valuations

• Q3 performance in line with estimates

• Packaged food penetration improvement in tier-2 and rural markets

• Operating costs not higher vs peer due to safety form local competition

• Expects to sustain EBITDA margin at 25% for FY25/FY26

• Delhivery is in Citi's India top mid- cap pick

• Delhivery’s e-commerce positioning improving on increased focused on D2C and pricing environment

• Delhivery’s relatively strongest proposition are its mid-mile capabilities

• Q3 e-commerce yields up 8% QoQ on no price hikes were undertaken

• 3Q share of higher-weight parcels higher than other quarters

Orders across its T&D, civil construction and solar businesses from Indian and American clients

Source: Exchange filing

• Downgrades long-term rating on UPL Corp to 'BB' from 'BB+' earlier

• Rating downgraded on weak cash flow and poor operating environment

Source: S&P

• Q3 shows stellar performance in weak market

• Healthy scale up within Zudio offers runway for growth over next 3-5 years

• Grocery segment presents huge opportunity for growth

• Expect standalone revenue/EBITDA CAGR of 30%/31% over FY24-26

• Target Price of Rs 650

• Q3 results in-line with slight acceleration in revenue outperformance vs. key client

• Anticipates healthy 16% CAGR over FY23-26e

• Expects growth at 1.5x of underlying industry

• Expects further share gains in 2W lighting, alloy wheels, seating and airbags

• Consumer prices fall 0.8% YoY in Jan vs estimates of a 0.5% fall

• Producer prices fall 2.5% YoY vs estimates of a 2.6% fall

Source: Bloomberg

• Revenue at Rs 7,780.2 crore vs Rs 8,653.4 crore, down 10.1%

• Net profit at Rs 1,438.8 crore vs Rs 1,232.3 crore, up 16.8%

• Solvency ratio at 2.94 vs 2.38

Asia Stocks Edge Higher As S&P 500 Sets New Record: Markets Wrap