Stocks To Watch: Coal India, ONGC, Glenmark Pharma, LIC, Grasim Industries, Eicher Motors, SAIL, Biocon
Here are the stocks to watch before going into trade today.
Asian markets were mixed following Friday's tech-driven rally on Wall Street, as investors look ahead to crucial U.S. inflation data due Tuesday.
Australian shares fell whereas Japanese and South Korean stocks rose. The futures contracts for benchmarks in Hong Kong gained ground.
The moves followed a Friday surge for the tech-heavy Nasdaq 100, which rose 2.3%, helped along by a record high for Microsoft Corp. The S&P 500 rose 1.6%. Markets are closed in Singapore and Malaysia for a holiday.
Meanwhile, the yield on the 10-year U.S. bond was trading at 4.65% and Bitcoin was above 37,000-level. Brent crude was above at $81 a barrel, whereas WTI Crude was above $77-mark.
At 5:30 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 58 points of 0.30% at 19,541.
India's benchmark stock indices ended the Diwali special one-hour Muhurat trading session on a higher note, led by gains in I.T. and metal stocks.
The S&P BSE Sensex Index ended above the 65,200 mark, whereas the NSE Nifty 50 scaled 19,500 during the trading session. Both indices ended at their highest levels since Oct. 20.
Overseas investors remained net sellers of Indian equities for the 13th day in a row on Friday. Foreign portfolio investors offloaded stocks worth Rs 261.8 crore, while domestic institutional investors remained net buyers and mopped up equities worth Rs 822.6 crore, the NSE data showed.
The Indian rupee weakened 5 paise to close at a record low of 83.34 against the U.S. dollar on Friday. Intraday, the local currency hit a fresh record low of 83.50.
Earnings Post Market Hours:
Rashtriya Chemicals And Fertilizers Q2 FY24 (Consolidated, YoY)
Revenue down 25.5% at Rs 4,155 crore vs Rs 5,576 crore.
Ebitda down 73.9% at Rs 106 crore vs Rs 405 crore.
Margin down 471 bps at 2.54% vs 7.26%.
Reported profit down 80.5% at Rs 51 crore vs Rs 262 crore.
HUDCO Q2 FY24 (Standalone, YoY)
Total income up 7.7% at Rs 1,881 crore vs Rs 1,747 crore.
Net profit up 13.9% at Rs 452 crore vs Rs 396 crore.
Tata Chemicals Q2 FY24 (Consolidated, YoY)
Revenue down 5.7% at Rs 3,998 crore vs Rs 4,239 crore (Bloomberg estimate: Rs 4,399.5 crore).
Ebitda down 11% at Rs 819 crore vs Rs 920 crore (Bloomberg estimate: Rs 991.7 crore).
Margin down 121 bps at 20.48% vs 21.7% (Bloomberg estimate: 22.5%).
Net profit down 27.2% at Rs 495 crore vs Rs 680 crore (Bloomberg estimate: Rs 499.8 crore).
Jupiter Life Line Hospitals Q2 FY24 (Consolidated, YoY)
Revenue up 18.9% at Rs 263.2 crore vs Rs 221.3 crore.
Ebitda up 10.5% at Rs 61 crore vs Rs 55.2 crore.
Margin down 176 bps at 23.17% vs 24.94%.
Reported profit up 24.4% at Rs 33.7 crore vs Rs 27.1 crore.
Garden Reach Shipbuilders and Engineers Q2 FY24 (YoY)
Revenue up 31.7% at Rs 897.9 crore vs Rs 681.6 crore (Bloomberg estimate: Rs 1,091.2 crore).
Ebitda up 0.9% at Rs 48.7 crore vs Rs 48.3 crore (Bloomberg estimate: Rs 86.1 crore).
Margin down 166 bps at 5.42% vs 7.08% (Bloomberg estimate: 7.9%).
Consolidated profit up 37.5% at Rs 80.7 crore vs Rs 58.7 crore (Bloomberg estimate: Rs 105.1 crore).
Ashiana Housing Q2 FY24 (Consolidated, YoY)
Revenue at Rs 346 crore vs Rs 86.8 crore.
Ebitda at Rs 33.3 crore vs loss of Rs 4.8 crore.
Margin at 9.63%.
Reported profit at Rs 27.4 crore vs loss of Rs 1.8 crore.
Rishabh Instruments Q2 FY24 (Consolidated, YoY)
Revenue up 31.9% at Rs 180 crore vs Rs 136.5 crore.
Ebitda up 123.2% at Rs 31.7 crore vs Rs 14.2 crore.
Margin up 720 bps at 17.6% vs 10.4%.
Net profit at Rs 22.1 crore vs Rs 6.2 crore.
PTC Industries Q2 FY24 (Consolidated, YoY)
Revenue up 6.4% at Rs 57.5 crore vs Rs 54 crore.
Ebitda down 8.4% at Rs 15.7 crore vs Rs 17.1 crore.
Margin down 437 bps at 27.23% vs 31.6%.
Reported profit up 6.5% at Rs 8.1 crore vs Rs 7.6 crore.
Hindustan Copper Q2 FY24 (Consolidated, YoY)
Revenue up 79.8% at Rs 381.4 crore vs Rs 212.1 crore.
Ebitda up 89.2% at Rs 121.2 crore vs Rs 64.1 crore.
Margin up 157 bps at 31.77% vs 30.2%.
Reported profit up 134.36% at Rs 60.7 crore vs Rs 25.9 crore.
Techno Electric And Engineering Co. Q2 FY24 (Consolidated, YoY)
Revenue at Rs 462 crore vs Rs 186 crore.
Ebitda at Rs 77.5 crore vs Rs 32.4 crore.
Margin down 64 bps at 16.77% vs 17.41%.
Reported profit up 25.5% at Rs 73.8 crore vs Rs 58.8 crore.
Technocraft Industries Q2 FY24 (Consolidated, YoY)
Revenue up 9.14% at Rs 520 crore vs Rs 476 crore.
Ebitda up 5.34% at Rs 102 crore vs Rs 96.7 crore.
Margin down 70 bps at 19.59% vs 20.3%.
Reported profit up 6.9% at Rs 70.2 crore vs Rs 65.6 crore.
PTC India Q2 FY24 (Consolidated, YoY)
Revenue up 6.2% at Rs 5,203 crore vs Rs 4,899 crore (Bloomberg estimate: Rs 4,740.5 crore).
Ebitda up 15.6% at Rs 414 crore vs Rs 358 crore (Bloomberg estimate: Rs 87.7 crore).
Margin up 64 bps at 7.95% vs 7.3% (Bloomberg estimate: 1.7%).
Reported profit up 46.4% at Rs 202 crore vs Rs 138 crore (Bloomberg estimate: Rs 66.7 crore).
Timken India Q2 FY24 (Consolidated, YoY)
Revenue down 1.9% at Rs 682 crore vs Rs 695 crore (Bloomberg estimate: Rs 743.9 crore).
Ebitda up 2.6% at Rs 136 crore vs Rs 132 crore (Bloomberg estimate: Rs 144.5 crore).
Margin up 87 bps at 19.87% vs 18.99% (Bloomberg estimate: 19.4%).
Reported profit down 4.6% at Rs 93 crore vs Rs 98 crore (Bloomberg estimate: Rs 132.3 crore).
Galaxy Surfactants Q2 FY24 (Consolidated, YoY)
Revenue down 20.5% at Rs 983 crore vs Rs 1,236 crore.
Ebitda down 5.2% at Rs 125 crore vs Rs 132 crore.
Margin up 205 bps at 12.7% vs 10.65%.
Reported profit down 7.7% at Rs 77.4 crore vs Rs 83.8 crore.
ONGC Q2 FY24 (Standalone, YoY)
Revenue down 8.3% at Rs 35,163 crore vs Rs 38,321 crore (Bloomberg estimate: Rs 36,017.7 crore).
Ebitda up 6.4% at Rs 17,118 crore vs Rs 16,092 crore.
Margin up 668 bps at 48.68% vs 41.99%.
Net profit down 20.3% at Rs 10,216 crore vs Rs 12,826 crore.
Glenmark Pharmaceuticals Q2 FY24 (Consolidated, YoY)
Revenue up 6.3% at Rs 3,207.4 crore vs Rs 3,018 crore (Bloomberg estimate: Rs 3,598.2 crore).
Ebitda down 3.5% at Rs 462.2 crore vs Rs 479 crore (Bloomberg estimate: Rs 675.1 crore).
Margin down 146 bps at 14.41% vs 15.87% (Bloomberg estimate: 18.8%).
Reported loss at Rs 61.6 crore vs profit of Rs 278.6 crore (Bloomberg estimate: Rs 260.9 crore).
Life Insurance Corp. Q2 FY24 (Standalone, YoY)
Total income down 9.3% at Rs 2,01,587 crore vs Rs 2,22,215.4 crore.
Net profit down 50.3% at Rs 7,925.01 crore vs Rs 15,952.5 crore.
SAIL Q2 FY24 (Consolidated, YoY)
Revenue up 13.2% at Rs 29,712 crore vs Rs 26,246 crore (Bloomberg estimate: Rs 26,431.3 crore).
Ebitda at Rs 3,875 crore vs Rs 735 crore (Bloomberg estimate: Rs 2,741.2 crore).
Margin up 1,024 bps at 13.04% vs 2.8% (Bloomberg estimate: 10.4%).
Reported profit at Rs 1,306 crore vs loss of Rs 329 crore (Bloomberg estimate: Rs 850.3 crore).
Biocon Q2 FY24 (Consolidated, YoY)
Revenue up 49.3% at Rs 3,462.3 crore vs Rs 2,319.7 crore (Bloomberg estimate: Rs 3,592.1 crore).
Ebitda up 57.5% at Rs 741.6 crore vs Rs 470.7 crore (Bloomberg estimate: Rs 825.1 crore).
Margin up 112 bps at 21.41% vs 20.29% (Bloomberg estimate: 23%).
Reported profit up 111.1% at Rs 172.7 crore vs Rs 81.8 crore (Bloomberg estimate: Rs 143.1 crore).
Coal India Q2 FY24 (Consolidated, YoY)
Revenue up 9.8% at Rs 32,776.4 crore vs Rs 29,838.1 crore (Bloomberg estimate: Rs 31,680.6 crore).
Ebitda up 11.8% at Rs 8,137 crore vs Rs 7,280.3 crore (Bloomberg estimate: Rs 7,369.6 crore).
Margin at 24.82% vs 24.39% (Bloomberg estimate: 23.3%).
Net profit up 12.7% at Rs 6,813.5 crore vs Rs 6,044 crore (Bloomberg estimate: Rs 5,292.5 crore).
Eicher Motors Q2 FY24 (Consolidated, YoY)
Revenue up 16.9% at Rs 4,115 crore vs Rs 3,519 crore (Bloomberg estimate: Rs 4,030.4 crore).
Ebitda up 30.7% at Rs 1,087 crore vs Rs 832 crore (Bloomberg estimate: Rs 1,028.6 crore).
Margin up 279 bps at 26.42% vs 23.62% (Bloomberg estimate: 25.5%).
Reported profit up 54.7% at Rs 1,016 crore vs Rs 657 crore (Bloomberg estimate: Rs 908.4 crore).
Fortis Healthcare Q2 FY24 (Consolidated, YoY)
Revenue up 10.1% at Rs 1,770 crore vs Rs 1,607 crore.
Ebitda up 9% at Rs 330.2 crore vs Rs 302.8 crore.
Margin down 18 bps at 18.65% vs 18.84%.
Reported profit down 15.7% at Rs 183.9 crore vs Rs 218.2 crore.
Earnings In Focus
Grasim Industries, Narayana Hrudayalaya, Manappuram Finance, NRB Bearings.
Stocks To Watch
Coal India: The board approved an interim dividend of Rs 15.25 per share.
Dr Reddy's Laboratories: The drugmaker acquired 26% stake in SPV called O2 Renewable Energy for Rs 24 crore for accessing renewable power through Inter-State Transmission System under captive structure. O2 Renewable Energy generates electricity using other non-conventional sources.
ONGC: The company approved additional investment of Rs 3,501 crore in JV ONGC Petro Additions.
New Listing
Protean eGov Technologies: The company's shares will debut on the stock exchanges on Monday at an issue price of Rs 792. The Rs 490-crore IPO was subscribed 23.86 times on its final day. Bids were led by institutional investors (46.94 times), non-institutional investors (31.62 times), retail investors (8.93 times) and portion reserved for employee (1.49 times).
Insider Trades
Linc: Promoter Ekta Jalan bought 5,000 shares on Nov. 9.
ISMT: Promoter Kirloskar Industries bought 2,553 shares on Nov. 10.
Who's Meeting Whom
Star Health and Allied Insurance: To meet investors and analysts on Nov. 16.
Mankind Pharma: To meet investors and analysts on Nov. 27 and 28.
IndusInd Bank: To meet investors and analysts on Nov. 16.
Trading Tweaks
Record Date Interim Dividend: REC.
F&O Cues
Nifty November futures rose 0.08% at 19,500, at a premium of 75 points.
Nifty November futures open interest fell by 2.56% by 5,830 shares.
Nifty Bank November futures rose 0.22% to 44,015, at a premium of 195 points.
Nifty Bank November futures open interest fell by 2.28% by 4,190 shares.
Nifty Options Nov. 16 Expiry: Maximum call open interest at 19,500 and maximum put open interest at 19,400.
Nifty Bank Options Nov. 15 Expiry: Maximum call open interest at 44,000 and maximum put open interest at 42,000.
Securities in the ban period: Chambal Fertilisers & Chemicals, Delta Corp, Gujarat Narmada Valley Fertilizers & Chemicals, Manappuram Finance, Multi Commodity Exchange Of India, Zee Entertainment Enterprises.
