Stocks To Watch: Pidilite Industries, Biocon, HDFC Life, Tata Power, BHEL, PFC, Titagarh Rail, Lupin
Here are the stocks to watch before going into trade today.
Stocks in Asia opened higher after U.S. shares hit their hottest winning streak in two years, as investors cling to hopes that interest rates have peaked.
Australian and South Korean and Japanese shares opened higher whereas the equity futures for Hong Kong were flat.
Those moves followed a 0.1% gain for the S&P 500 on Wednesday, it’s eighth consecutive advance and the best run for the index since November 2021. Fed Chair Jerome Powell will appear on a panel discussing monetary policy challenges later Thursday.
Meanwhile, the yield on the 10-year U.S. bond was trading at 4.49% and Bitcoin was above 35,000-level. Brent crude was trading below $80 a barrel, whereas WTI Crude was below $76-mark.
At 5:35 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 24 points of 0.12% at 19,505.
India's benchmark stock indices continued to advance after a one-day fall to end marginally higher on Wednesday. Pharma, realty and energy sectors advanced, whereas information technology and non-banking financial companies were under pressure.
Sensex jumped over 65,100, while the Nifty 50 scaled over 19,460 during intraday trading, the highest in over two weeks since Oct. 23.
Overseas investors remained net sellers of Indian equities for the eleventh day in a row on Wednesday. While foreign portfolio investors offloaded stocks worth Rs 84.6 crore, domestic institutional investors mopped up equities worth Rs 524.5 crore, the NSE data showed.
The Indian rupee closed flat at 83.28 against the U.S. dollar on Wednesday.
Earnings Post Market Hours
Tata Power Q2 FY24 (Consolidated, YoY)
Revenue up 12.1% to Rs 15,738 crore vs Rs 14,031 crore (Bloomberg estimate: Rs 15,695.9 crore).
Ebitda up 75% at Rs 3,091 crore vs Rs 1,761 crore (Bloomberg estimate: Rs 2,636.5 crore).
Margin up 709 bps at 19.64% vs 12.55% (Bloomberg estimate: 16.8%).
Net profit up 9% to Rs 1,017.4 crore vs Rs 935.2 crore (Bloomberg estimate: Rs 881 crore).
Birla Corp. Q2 FY24 (Consolidated, YoY)
Revenue up 14% at Rs 2,286 crore vs Rs 2,000 crore (Bloomberg estimate: Rs 2,220.2 crore).
Ebitda at Rs 288 crore vs Rs 94 crore (Bloomberg estimate: Rs 292.54 crore).
Margin up 789 bps at 12.59% vs 4.7% (Bloomberg estimate: 13.2%).
Reported profit at Rs 58.4 crore vs loss of Rs 56.5 crore (Bloomberg estimate: Rs 63 crore).
Mazagon Dock Shipbuilders Q2 FY24 (Consolidated, YoY)
Revenue up 7.4% at Rs 1,828 crore vs Rs 1,702 crore.
Ebitda up 51.33% at Rs 176 crore vs Rs 117 crore.
Margin up 279 bps at 9.64% vs 6.84%.
Reported profit up 55.6% at Rs 333 crore vs Rs 214 crore.
Oil India Q2 FY24 (Consolidated, YoY)
Revenue up 37.6% at Rs 7,496 crore vs Rs 6,209 crore (Bloomberg estimate: Rs 5,130.6 crore).
Ebitda up 54.7% at Rs 3,523 crore vs Rs 2,277 crore (Bloomberg estimate: Rs 2,137.3 crore).
Margin up 1,032 bps at 46.99% vs 36.67% (Bloomberg estimate: 41.7%).
Reported profit down 54.3% at Rs 640 crore vs Rs 1,399 crore (Bloomberg estimate: Rs 1,646.1 crore).
Note: One-time loss of Rs 2,366.84 crore in Q2.
BHEL Q2 FY24 (Consolidated, YoY)
Revenue down 1.5% at Rs 5,125.3 crore vs Rs 5,202.6 crore (Bloomberg estimate: Rs 5,914 crore).
Ebitda loss of Rs 387.7 crore vs Ebitda loss of Rs 243.9 crore.
Net loss at Rs 238.12 crore vs profit of Rs 12.1 crore (Bloomberg estimate: loss of Rs 107.6 crore).
Concord Biotech Q2 FY24 (Consolidated, YoY)
Revenue up 65% at Rs 262 crore vs Rs 159 crore.
Ebitda at Rs 119.2 crore vs Rs 38.4 crore.
Margin up 2,127 bps at 45.42% vs 24.15%.
Reported profit at Rs 81 crore vs Rs 22 crore.
Best Agrolife Q2 FY24 (Consolidated, YoY)
Revenue at Rs 811.2 crore vs Rs 700.3 crore, up 15.8%.
Ebitda at Rs 144.1 crore vs Rs 182.6 crore, down 21%.
Margin down 831 bps at 17.76% vs 26.07%.
Reported profit at Rs 94.9 crore vs Rs 129.8 crore, down 26.9%.
Lumax Auto Technologies Q2 FY24 (Consolidated, YoY)
Revenue up 43.8% at Rs 700 crore vs Rs 487 crore.
Ebitda up 74% at Rs 90.2 crore vs Rs 51.8 crore.
Margin up 224 bps at 12.87% vs 10.63%.
Reported profit up 11% at Rs 37.6 crore vs Rs 33.8 crore.
Welspun Corp. Q2 FY24 (Consolidated, YoY)
Revenue at Rs 4,059.5 crore vs Rs 1,963.8 crore.
Ebitda at Rs 399.6 crore vs loss of Rs 131.2 crore.
Margin at 9.84%.
Net profit at Rs 386.6 crore vs loss of Rs 63.2 crore.
EPL Q2 FY24 (Consolidated, YoY)
Revenue up 5.6% at Rs 1,002 crore vs Rs 948 crore.
Ebitda up 21.8% at Rs 181 crore vs Rs 149 crore.
Margin up 239 bps at 18.07% vs 15.67%.
Reported profit up 9.5% at Rs 52.1 crore vs Rs 47.6 crore.
Gujarat Alkalies and Chemicals Q2 FY24 (Consolidated, YoY)
Revenue down 13.9% at Rs 971 crore vs Rs 1,127 crore.
Ebitda down 80% at Rs 45 crore vs Rs 225 crore.
Margin down 1,534 bps at 4.63% vs 19.98%.
Reported loss at Rs 18.4 crore vs profit of Rs 60.5 crore.
SKF India Q2 FY24 (Consolidated, YoY)
Revenue up 4.4% at Rs 1,125.2 crore vs Rs 1,078.3 crore (Bloomberg estimate: Rs 1,206.1 crore).
Ebitda down 43.4% at Rs 121.5 crore vs Rs 214.7 crore (Bloomberg estimate: Rs 216.9 crore).
Margin down 910 bps at 10.79% vs 19.89% (Bloomberg estimate: 18%).
Net profit down 42.3% at Rs 90 crore vs Rs 155.83 crore (Bloomberg estimate: Rs 163.1 crore).
Hindustan Foods Q2 FY24 (Consolidated, YoY)
Revenue up 2% at Rs 675.35 crore vs Rs 661.79 crore.
Ebitda up 28% at Rs 53.92 crore vs Rs 42.12 crore.
Margin up 161 bps at 7.98% vs 6.36%.
Net profit up 30% at Rs 24.67 crore vs Rs 18.93 crore.
Somany Ceramics Q2 FY24 (Consolidated, YoY)
Revenue up 6% at Rs 655.2 crore vs Rs 617.8 crore (Bloomberg estimate: Rs 646.2 crore).
Ebitda up 52% at Rs 64.12 crore vs Rs 42.22 crore (Bloomberg estimate: Rs 57.2 crore).
Margin up 295 bps at 9.78% vs 6.83% (Bloomberg estimate: 8.9%).
Net profit at Rs 29.5 crore vs Rs 11.7 crore (Bloomberg estimate: Rs 24.7 crore).
Medplus Health Services Q2 FY24 (Consolidated, YoY)
Revenue up 25.7% at Rs 1,408.6 crore vs Rs 1,120.6 crore (Bloomberg estimate: Rs 1,404.5 crore).
Ebitda up 42.7% at Rs 85 crore vs Rs 59.6 crore (Bloomberg estimate: Rs 52.2 crore).
Margin up 71 bps at 6.03% vs 5.32% (Bloomberg estimate: 3.7%).
Net profit at Rs 14.5 crore vs Rs 6.47 crore (Bloomberg estimate: Rs 9.2 crore).
Emudhra Q2 FY24 (Consolidated, QoQ)
Revenue up 21% at Rs 96.3 crore vs Rs 79.7 crore (Bloomberg estimate: Rs 87.9 crore).
Ebitda up 19% at Rs 28.24 crore vs Rs 23.76 crore.
Margin down 48 bps at 29.32% vs 29.81%.
Net profit up 15% at Rs 18.76 crore vs Rs 16.37 crore.
Tasty Bite Eatables Q2 FY24 (Consolidated, YoY)
Revenue up 2% at Rs 145 crore vs Rs 142 crore.
Ebitda down 0.9% at Rs 19.9 crore vs Rs 20 crore.
Margin down 41 bps at 13.69% vs 14.11%.
Net profit up 19.5% at Rs 11.36 crore vs Rs 9.51 crore.
Balaji Amines Q2 FY24 (Consolidated, YoY)
Revenue down 39.4% at Rs 380.5 crore vs Rs 627.6 crore (Bloomberg estimate: Rs 431.2 crore).
Ebitda down 69% at Rs 53.8 crore vs Rs 173.1 crore (Bloomberg estimate: Rs 70.2 crore).
Margin down 1,346 bps at 14.12% vs 27.58% (Bloomberg estimate: 16.3%).
Net profit down 69.3% at Rs 36.4 crore vs Rs 118.6 crore (Bloomberg estimate: Rs 44.1 crore).
Pricol Q2 FY24 (Consolidated, YoY)
Revenue up 12% at Rs 577.8 crore vs Rs 515.8 crore.
Ebitda up 6.4% at Rs 66.4 crore vs Rs 62.5 crore.
Margin down 60 bps at 11.49% vs 12.1%.
Net profit down 30% at Rs 33.15 crore vs Rs 47.52 crore.
Elgi Equipments Q2 FY24 (Consolidated, YoY)
Revenue up 9.1% at Rs 806.1 crore vs Rs 738.7 crore.
Ebitda up 26.8% at Rs 142.6 crore vs Rs 112.5 crore.
Margin up 246 bps at 17.69% vs 15.22%.
Reported profit up 26.8% at Rs 91.3 crore vs Rs 72 crore.
Bata India Q2 FY24 (Consolidated, YoY)
Revenue down 1.3% at Rs 819.11 crore vs Rs 829.75 crore (Bloomberg estimate: Rs 883.8 crore).
Ebitda up 28.9% at Rs 181.6 crore vs Rs 140.9 crore (Bloomberg estimate: Rs 191.8 crore).
Margin up 519 bps at 22.2% vs 17% (Bloomberg estimate: 21.7%).
Net profit down 38% at Rs 34 crore vs Rs 54.6 crore (Bloomberg estimate: Rs 71.73 crore).
Sanofi India Q3 (Consolidated, YoY)
Revenue down 67% at Rs 714.6 crore vs Rs 2,157.2 crore (Bloomberg estimate: Rs 761.3 crore)
Ebitda down 66% at Rs 208.2 crore vs Rs 616.3 crore (Bloomberg estimate: Rs 190.7 crore)
Margin up 56 bps at 29.13% vs 28.56% (Bloomberg estimate: 25.1%)
Net profit down 67% at Rs 151.9 crore vs Rs 465.2 crore (Bloomberg estimate: Rs 142.6 crore)
Ge T&D India Q2 FY24 (Consolidated, YoY)
Revenue down 0.4% at Rs 697.8 crore vs Rs 700.6 crore (Bloomberg estimate: Rs 756 crore).
Ebitda at Rs 60.6 crore vs Rs 5.3 crore (Bloomberg estimate: Rs 46.3 crore).
Margin up 792 bps at 8.68% vs 0.75% (Bloomberg estimate: 6.1%).
Net profit at Rs 37.2 crore vs Rs 2.8 crore (Bloomberg estimate: Rs 18.9 crore).
Pidilite Industries Q2 FY24 (Consolidated, YoY)
Revenue up 2.2% at Rs 3,076 crore vs Rs 3,011 crore (Bloomberg estimate: Rs 3,192.4 crore).
Ebitda up 36% at Rs 679.7 crore vs Rs 499.9 crore (Bloomberg estimate: Rs 696.8 crore).
Margin up 549 bps at 22.09% vs 16.59% (Bloomberg estimate: 21.8%).
Net profit up 35.8% at Rs 458.6 crore vs Rs 337.8 crore (Bloomberg estimate: Rs 465.4 crore).
United Spirits Q2 FY24 (Consolidated, YoY)
Revenue down 18.7% at Rs 2,867 crore vs Rs 2,911 crore.
Ebitda up 6.7% at Rs 466.7 crore vs Rs 437.3 crore.
Margin up 125 bps at 16.27% vs 15.02%.
Net profit down 38% at Rs 339.3 crore vs Rs 547.7 crore
Nazara Technologies Q2 FY24 (Consolidated, QoQ)
Revenue up 16.8% at Rs 297.2 crore vs Rs 254.4 crore (Bloomberg estimate: Rs 313.9 crore).
EBIT down 35% at Rs 11.56 crore vs Rs 17.78 crore (Bloomberg estimate: Rs 20.83 crore).
Margin down 309 bps at 3.88% vs 6.98% (Bloomberg estimate: 6.64%).
Net profit up 15.8% at Rs 24.2 crore vs Rs 20.9 crore (Bloomberg estimate: Rs 14.9 crore).
MTAR Technologies Q2 FY24 (Consolidated, YoY)
Revenue up 32% at Rs 166.8 crore vs Rs 126.2 crore (Bloomberg estimate: Rs 175.8 crore).
Ebitda up 3.4% at Rs 36.1 crore vs Rs 34.9 crore (Bloomberg estimate: Rs 36.3 crore).
Margin down 603 bps at 21.63% vs 27.66% (Bloomberg estimate: 20.7%).
Net profit down 17% at Rs 20.5 crore vs Rs 24.7 crore (Bloomberg estimate: Rs 26.5 crore).
Brigade Enterprises Q2 FY24 (Consolidated, YoY)
Revenue up 55% at Rs 1,366.6 crore vs Rs 879.2 crore (Bloomberg estimate: Rs 951.3 crore).
Ebitda up 50% at Rs 324.8 crore vs Rs 216.5 crore (Bloomberg estimate: Rs 252.6 crore).
Margin down 85 bps at 23.76% vs 24.61% (Bloomberg estimate: 26.6%).
Net profit at Rs 112.5 crore vs Rs 51.8 crore (Bloomberg estimate: Rs 91 crore).
RHI Magnesita India Q2 FY24 (Consolidated, YoY)
Revenue up 64.4% at Rs 986.9 crore vs Rs 600.4 crore.
Ebitda up 46.8% at Rs 147.9 crore vs Rs 100.8 crore.
Margin down 179 bps at 14.98% vs 16.78%.
Net profit down 0.9% at Rs 71.6 crore vs Rs 72.2 crore.
FDC Q2 FY24 (Consolidated, YoY)
Revenue up 9.3% at Rs 486.4 crore vs Rs 445 crore.
Ebitda up 13.5% at Rs 76.4 crore vs Rs 67.3 crore.
Margin up 58 bps at 15.71% vs 15.12%.
Net profit up 34.7% at Rs 69.8 crore vs Rs 51.8 crore.
Endurance Technologies Q2 FY24 (Consolidated, YoY)
Revenue up 7.8% at Rs 2,545 crore vs Rs 2,360.6 crore (Bloomberg estimate: Rs 2,602.3 crore).
Ebitda up 17.2% at Rs 318.3 crore vs Rs 271.6 crore (Bloomberg estimate: Rs 315.3 crore).
Margin up 100 bps at 12.5% vs 11.5% (Bloomberg estimate: 13.5%).
Net profit up 17.5% at Rs 154.6 crore vs Rs 131.5 crore (Bloomberg estimate: Rs 179 crore).
Reliance Infrastructure Q2 FY24 (Consolidated, YoY)
Revenue up 14.6% at Rs 7,136.8 crore vs Rs 6,229.4 crore.
Ebitda up 34.8% at Rs 1,033.1 crore vs Rs 766.39 crore.
Margin up 217 bps at 14.47% vs 12.3%.
Reported loss at Rs 294.1 crore vs loss of Rs 162.2 crore.
Shree Renuka Sugars Q2 FY24 (Consolidated, YoY)
Revenue up 16.8% at Rs 2,554.7 crore vs Rs 2,187.6 crore.
Ebitda up 39.7% at Rs 63.7 crore vs Rs 45.6 crore.
Margin up 40 bps at 2.49% vs 2.08%.
Net loss at Rs 205.6 crore vs loss of Rs 141.6 crore.
KIOCL Q2 FY24 (Standalone, YoY)
Revenue at Rs 431.2 crore vs Rs 154.5 crore.
Ebitda loss of Rs 19.5 crore vs loss of Rs 113.7 crore.
Reported loss at Rs 21.4 crore vs loss of Rs 102.2 crore.
Landmark Cars Q2 FY24 (Consolidated, YoY)
Revenue down 9.6% at Rs 770.7 crore vs Rs 852.1 crore (Bloomberg estimate: Rs 800 crore).
Ebitda down 10.7% at Rs 54.45 crore vs Rs 60.95 crore (Bloomberg estimate: Rs 60 crore).
Margin down 8 bps at 7.06% vs 7.15% (Bloomberg estimate: 7.5%).
Net profit up 21.6% at Rs 20.5 crore vs Rs 16.86 crore (Bloomberg estimate: Rs 20 crore).
HEG Q2 FY24 (Consolidated, YoY)
Revenue up 2.7% at Rs 614.2 crore vs Rs 598.1 crore.
Ebitda down 43% at Rs 101.9 crore vs Rs 178.8 crore.
Margin down 1330 bps at 16.58% vs 29.89%.
Net profit down 43.2% at Rs 95.98 crore vs Rs 168.9 crore.
Power Finance Corp. Q2 FY24 (Consolidated, YoY)
Revenue up 15.8% at Rs 22,403.7 crore vs Rs 19,344.4 crore
Net profit up 26.7% at Rs 6,628.2 crore vs Rs 5,229.3 crore
Ashoka Buildcon Q2 FY24 (Consolidated, YoY)
Revenue up 19.2% at Rs 2154.3 crore vs Rs 1807.7 crore (Bloomberg estimate: Rs 1,793.8 crore)
Ebitda up 27.1% at Rs 545.9 crore vs Rs 429.5 crore
Margin up 158 bps at 25.34% vs 23.75%
Net profit up 81.12% at Rs 119 crore vs Rs 65.7 crore
Patanjali Foods Q2 FY24 (Standalone, YoY)
Revenue down 8.14% at Rs 7,821.9 crore vs Rs 8,514.1 crore
Ebitda at Rs 395.3 crore vs Rs 194.6 crore
Margin at 5.05% vs 2.28%, up 276 bps
Net profit at Rs 254.5 crore vs Rs 112.28 crore
The New India Assurance Co. Q2 FY24 (Standalone, YoY)
Total income down 4.8% at Rs 9,839 crore vs Rs 10,331 crore
Net loss at Rs 199.9 crore vs profit of Rs 33.5 crore
Tata Investment Corp Q2 FY24 (Consolidated, YoY)
Total income up 16.8% at Rs 125 crore vs Rs 107 crore
Net profit up 15% at Rs 123.5 crore vs Rs 107.4 crore
Gujarat Narmada Valley Fertilizers & Chemicals Q2 FY24 (Consolidated, YoY)
Revenue down 19.6% at Rs 2,080 crore vs Rs 2,587 crore
Ebitda down 45.3% at Rs 169 crore vs Rs 309 crore
Margin down 381 bps at 8.1% vs 11.9%
Net profit down 23.5% at Rs 182 crore vs Rs 238 crore
The Phoenix Mills Q2 FY24 (Consolidated, YoY)
Revenue up 34.4% at Rs 875 crore vs Rs 651 crore (Bloomberg estimate: Rs 854.2 crore)
Ebitda up 32.8% at Rs 506 crore vs Rs 380.9 crore (Bloomberg estimate: Rs 517 crore)
Margin down 67 bps at 57.82% vs 58.49% (Bloomberg estimate: 60.5%)
Net profit up 37.7% at Rs 305.3 crore vs Rs 221.7 crore (Bloomberg estimate: Rs 236 crore)
PI Industries Q2 FY24 (Consolidated, YoY)
Revenue up 19.6% at Rs 2117 crore vs Rs 1770 crore (Bloomberg estimate: Rs 2,138.5 crore)
Ebitda up 27.7% at Rs 551.5 crore vs Rs 431.9 crore (Bloomberg estimate: Rs 528.9 crore)
Margin up 164 bps at 26.05% vs 24.4% (Bloomberg estimate: 24.7%)
Net profit up 43.5% at Rs 480.5 crore vs Rs 334.8 crore (Bloomberg estimate: Rs 419.3 crore)
MCX Q2 FY24 (Consolidated, YoY)
Total income up 26% at Rs 184 crore vs Rs 146 crore (Bloomberg estimate: Rs 167.9crore)
Net loss at Rs 19.1 crore vs profit of Rs 63.3 crore (Bloomberg estimate: profit of Rs 1.3 crore)
Samhi Hotels Q2 FY24 (Consolidated, YoY)
Revenue up 26.1% at Rs 220 crore vs Rs 174.5 crore
Ebitda down 4.3% at Rs 50.8 crore vs Rs 53.1 crore
Margin at 23.09% vs 30.42%
Net loss at Rs 88 crore vs loss of Rs 83.7 crore
Lupin Q2 FY24 (Consolidated, YoY)
Revenue up 21.54% at Rs 5,038.6 crore vs Rs 4,145.5 crore (Bloomberg estimate: Rs 4,796.8 crore).
Ebitda up 102.51% at Rs 917.8 crore vs Rs 453.2 crore (Bloomberg estimate: Rs 788.41 crore).
Margin at 18.21% vs 10.93% (Bloomberg estimate: 16.40%).
Net profit up 277.56% at Rs 489.7 crore vs Rs 129.7 crore (Bloomberg estimate: Rs 393.2 crore).
Earnings In Focus
Adani Ports And SEZ, Apollo Hospitals Enterprise, Samvardhana Motherson International, Bosch, Muthoot Finance, Aurobindo Pharma, Ashok Leyland, Page Industries, General Insurance Corporation Of India, Torrent Power, Rail Vikas Nigam, SJVN, Zee Entertainment Enterprises, ITI, Glaxosmithkline Pharmaceuticals, The Ramco Cements, Piramal Enterprises, Global Health, Cholamandalam Financial Holdings, National Aluminium Co., Suven Pharmaceuticals, Finolex Cables, Ircon International, Nbcc (India), Astrazeneca Pharma India, G R Infraprojects, BASF India, Eclerx Services, Kama Holdings, NCC, Graphite India, Bengal & Assam Company, KRBL, BEML, Granules India, Campus Activewear, GMM Pfaudler, Caplin Point Laboratories, Engineers India, Rashtriya Chemicals & Fertilizers, Tega Industries, Genus Power Infrastructures, Star Cement, Nava, Senco Gold, Kennametal India, Electrosteel Castings, Suprajit Engineering, Healthcare Global Enterprises, Marksans Pharma, West Coast Paper Mills, Force Motors, Jaiprakash Associates, Hinduja Global Solutions, Nucleus Software Exports, Hindustan Construction Co., Orient Cement, Nirlon, Bajaj Hindusthan Sugar, Jain Irrigation Systems, Welspun Enterprises, Garware Hi-Tech Films, National Fertilizers, Bajaj Consumer Care, Fineotex Chemical, Cartrade Tech, Sunflag Iron & Steel Co., TVS Srichakra, Dish TV India, Kirloskar Industries, Vindhya Telelinks, Tarc, Sharda Motor Industries, Grauer & Weil (India), Gufic Biosciences, Manorama Industries, Parag Milk Foods, Subros, Precision Camshafts, Media Matrix Worldwide, Globus Spirits, Mukand, Sandhar Technologies, Pitti Engineering, M.M.Forgings, Expleo Solutions
Stocks To Watch
Pidilite Industries: The Fevicol-maker will set up lending business for providing small value retail loans via acquisition of Pargro Investments for Rs 10 crore. It plans to invest up to Rs 100 crore in lending business over the next two years.
Biocon: Unit Biocon Biologics to sell non-core branded business in India to Eris Lifesciences. Dermatology and nephrology branded formulations business to be divested for Rs 366 crore, with divestiture expected to close by end of Nov. 2023.
Titagarh Rail Systems: The board approved fundraising of up to Rs 700 crore via qualified institutional placements.
Power Finance Corp: The board appointed Parminder Chopra as CFO w.e.f Nov. 8.
HDFC Life: The company received a Rs 20 crore demand notice from Central Tax Commissionerate of Hyderabad for alleged irregular availment of input tax credit.
Gujarat Alkalies: The company's CFO Vinayak Kudtarkar resigned w.e.f. Nov. 18.
IRB Infrastructure Developers: The company reported a 30% YoY rise in October toll collection at Rs 447.7 crore.
Sanofi India: The Board appointed Rachid Ayari as CFO for three years w.e.f. Dec. 1.
Gujarat Narmada Valley Fertilizers & Chemicals: The company announced buyback of 84 lakh equity shares or 5.46% stake at Rs 770 apiece. The buyback price is at a premium of 11.2% to the stock's previous close of Rs 692.4 apiece.
IPO Offering
ASK Automotive: The IPO was subscribed to 1.34 times on its second day. The bids were led by non-institutional investors (2.27 times), retail investors (1.68 times), and institutional investors (0.06 times, 6%).
Block Deals
Bajaj Finserv: Rishab Family Trust sold 13.01 lakh shares, Rajivnayan Bajaj sold 2.55 lakh shares, while Rupa Equities, Rahul Securities, Shekhar Holdings, Madhur Securities bought 3.89 lakh shares each, at Rs 1,575 apiece.
Insider Trades
Sunteck Realty: Promoter SW Capital Pvt. Ltd. bought 66,402 shares between Nov. 6 and Nov. 8
Ritesh Properties & Industries: Promoters Sanjeev Arora HUF, Guneet Arora, and Ketki Arora bought 18,000 shares, 10,000 shares and 30,000 shares, respectively, on Nov. 3.
Pledge Shares Details
Asahi India Glass: Promoter Dinesh K. Agarwal revoked a pledge for 15,000 shares on Oct. 16
Trading Tweaks
Record Date Dividend: Godrej Consumer Products, Nippon Life India Asset Management.
Who's Meeting Whom
FSN E-Commerce Ventures: To meet investors and analysts on Nov. 15.
Aavas Financiers: To meet investors and analysts on Nov. 15.
F&O Cues
Nifty November futures rose 0.06% at 19,488, at a premium of 45 points.
Nifty November futures open interest fell by 0.34% by 742 shares.
Nifty Bank November futures fell 0.23% to 43,825, at a premium of 167 points.
Nifty Bank November futures open interest rose by 11.85% by 19,119 shares.
Nifty Options Nov. 9 Expiry: Maximum call open interest at 19,500 and maximum put open interest at 19,300.
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: Delta Corp, GNFC.
