Shares of Adani Total Gas Ltd. gained, reversing early losses after the company reported a 16% rise in Q2 profit.
Key Highlights (Consolidated, QoQ)
Revenue from operations up 7% at Rs 1,190.3 crore vs Rs 1,110.2 crore
Ebitda up 3.5% at Rs 226.2 crore vs Rs 218.5 crore
Profit up 15.7% at Rs 169 crore vs Rs 138.3 crore
Source: Exchange filing
Net Profit: Rs 4,454.24 crore vs Rs 3,780.5 crore (YoY)
NII: Rs 4,639 crore vs Rs 4,110 crore (YoY)
GNPA: 1.59% vs 1.78% (QoQ)
Shares of Hindustan Petroleum Corp. fell as much as 1.9% even as the company's net loss narrowed sequentially.
Key Highlights (Consolidated, QoQ)
Revenue down 6% at Rs 1.13 lakh crore vs Rs 1.21 lakh crore.
Net loss at Rs 2,475.7 crore vs Rs 8,557.2 crore
Source: Exchange filing
The market breadth is skewed in the favour of bulls. About 1,737 stocks rose, 1,599 fell and 140 remained unchanged.
Global Health has issued shares at Rs 336 apiece to anchor investors to raise Rs 662 crore ahead of its IPO.
The IPO opens today.
Investors that participated in the anchor were Axis AMC, SBI Mutual Fund, Stichting Depositary, Ontario Teachers’ Pension Plan Board, Government of Singapore, the Monetary Authority of Singapore, among others.
Source: BSE
Services PMI rose to 55.1 in October from 54.3 in September.
Source: S&P Global
Bikaji Foods has issued shares at Rs 300 apiece to anchor investors to raise Rs 262 crore ahead of its IPO.
The IPO opens today.
Foreign portfolio investors that participated in the anchor were Eastspring Investments, BNP Paribas, Morgan Stanley, Government of Singapore, Nomura, Blackrock, among others.
Source: BSE
North American Class 8 Truck Orders stood at 42,500 in October.
Sales rose 73% to 24,500 units year-on-year, while they fell 21% sequentially to 53,700 units.
Bharat Forge
Ramkrishna Forging
Stocks to watch:
Yield on the 10-year bond rose 4bps to 7.43% at the open.
Source: Bloomberg
Indian currency declines about 10 paise at open to 82.88 against the U.S. dollar.
Source: Bloomberg
Archean Chemical and Five-Star Business Finance will open their IPOs from November 9 to 11.
Five-Star’s price band is set at Rs 450 to Rs 474.
Archean’s price band is set at Rs 386- Rs 407.
Source: Company statements, Bloomberg
U.S. Dollar Index at 112.13
U.S. 10-year bond yield at 4.10% on Wednesday
Brent crude down 0.84% to $95.35 per barrel
Nymex crude at $89.04 per barrel
SGX Nifty down 0.87% to 18,005 as of 8:42 a.m.
Bitcoin up 0.1% to $20,195.
Adani Enterprises, Ajanta Pharma, Amara Raja Batteries, Apar Industries, Adani Total Gas, Adani Wilmar, Bank Of India, Blue Star, Coromandel International, Devyani International, Elecon Engineering, GMM Pfaudler, Hawkins Cookers, HDFC, Hero Moto Corp, Hindustan Petroleum Corporation, Indian Bank, Indigo Paints, IndInfravit Trust, JK Laksmi Cement, Jindal Stainless (Hisar), Mahindra Lifespace Developers, Orient Electric, Rain Industries, Rainbow Children's Medicare, Raymond, Sanofi India, Sapphire Foods India, Schneider Electric Infrastructure, SRF, UCO Bank
Wipro: The company launched a new financial services advisory capability in India, named Capco.
Adani Transmission: The board granted in-principle approval for issuance of non-convertible debentures worth up to Rs 1,500 crore.
Life Insurance Corporation of India: The insurer diluted its shareholding in Rail Vikas Nigam to 6.7% from 8.72%.
Spandana Sphoorty Financial: The board approved issuance of NCDs up to Rs 50 crore on private placement basis.
JK Cement: Subsidiary Jaykaycem (Central) commenced cement grinding with capacity of two million tonnes per annum at its newly set up cement manufacturing facilities in Panna, Madhya Pradesh.
Nippon Life India Asset Management: Sailesh Bhan elevated as Chief Investment Officer-Equity at the company, effective Jan. 1, 2023.
Info Edge (India): The board will convene on Nov. 11 to consider a dividend for the current fiscal.
Triveni Turbine: The board approved the proposal for buyback of equity shares worth up to Rs 190 crore through tender offer route at Rs 350 per share, representing 1.68% of the total shareholding of the company.
Piramal Enterprises: The board of directors will meet on Nov. 7, 2022, to consider and approve the issuance of non-convertible debentures on a private placement basis.
Dalmia Bharat Q2 FY23 (Consolidated, YoY)
Revenue up 15% at Rs 2,971 crore, compared with Bloomberg estimate of Rs 2,964.7.
Ebitda fell 39% to Rs 377 crore, compared with Bloomberg estimate of Rs 383.5 crore.
Ebitda margin 13% versus 24%
Net profit fell 77% to Rs 46 crore, compared with Bloomberg estimate of Rs 43.3 crore.
Declared interim dividend of Rs 4 per share of face value of Rs 2 each
Procter & Gamble Hygiene and Health Care Q2 FY23 (Consolidated, QoQ)
Revenue up 35% at Rs 1,045 crore, compared with Bloomberg estimate of Rs 1,213.2 crore.
Ebitda up 3x at Rs 213.9 crore, compared with Bloomberg estimate of Rs 286.1 crore
Ebitda margin 20% versus 9%
Net profit up 3x at Rs 154.4 crore, compared with Bloomberg estimate of Rs 210.8 crore.
Jindal Stainless Q2 FY23 (Consolidated, YoY)
Revenue up 11.5% at Rs 5,605 crore, compared with Bloomberg estimate of Rs 5,532.4 crore.
Ebitda fell 52% at Rs 358.3 crore, compared with Bloomberg estimate of Rs 406.6 crore.
Ebitda margin 6% versus 15%
Net profit 61% at Rs 159.1 crore versus Rs 407.5 crore
SIS Q2 FY23 (Consolidated, YoY)
Revenue up 14% at Rs 2,768 crore, compared with Bloomberg estimate of Rs 2,777.3 crore.
Ebitda fell 11% to Rs 109.6 crore, compared with Bloomberg estimate of Rs 128.7 crore.
Ebitda margin 4% versus 5%
Net profit fell 1% to Rs 67.43 crore, compared with Bloomberg estimate of Rs 67.55 crore)
Mahindra & Mahindra Financial Services Q2 FY23 (Consolidated, YoY)
Interest income up 1% at Rs 2,848.3 crore versus Rs 2,818.04 crore
Net profit fell 55% at Rs 490.4 crore.
EIH Q2 FY23 (Consolidated, QoQ)
Revenue up 2% at Rs 401 crore.
Ebitda fell 15% to Rs 84.7 crore.
Ebitda margin 21% versus 25%
Net profit fell 61% to Rs 24.6 crore.
JK Paper Q2 FY23 (Consolidated, YoY)
Revenue up 74% at Rs 1,644 crore.
Ebitda up 2x at Rs 620.9 crore.
Ebitda margin 38%versus 29%
Net profit up 2.7x at Rs 324.23 crore versus Rs 118.39 crore
MTAR Technologies Q2 FY23 (Consolidated, QoQ)
Revenue up 39% at Rs 126 crore, compared with Bloomberg estimate of Rs 123 crore.
EBIT up 46% at Rs 30.2 crore.
EBIT margin 24% versus 23%
Net profit up 52% at Rs 24.6 crore, compared with Bloomberg estimate of Rs 22.2 crore.
Relaxo Footwears Q2 FY23 (Consolidated, YoY)
Revenue fell 6% at Rs 670 crore, compared with Bloomberg estimate of Rs 696.83 crore
Ebitda fell 49% to Rs 59.4 crore, compared with Bloomberg estimate of Rs 102.2 crore.
Ebitda margin 9% versus 16%
Net profit fell 68% to Rs 22.4 crore, compared with Bloomberg estimate of Rs 54.1 crore.
Triveni Turbine Q2 FY23 (Consolidated, YoY)
Revenue up 42% at Rs 293 crore, compared with Bloomberg estimate of Rs 271.8 crore.
Ebitda up 39% at Rs 55.7 crore, compared with Bloomberg estimate of Rs 54.6 crore.
Ebitday margin flat 19% (Bloomberg estimate: 20.1%)
Net profit fell 73% to Rs 46.21 crore versus Rs 173.76 crore. Net profit for corresponding quarter of previous year includes Rs 192.58 crore for settlement consideration on sale of interest held in Triveni Energy Solutions. (Bloomberg estimate: Rs 42.70 crore)
Share India Securities Q2 FY23 (Consolidated QoQ)
Revenue increased 13% at Rs 239.9 crore.
Ebitda increased 58% to Rs 108.9 crore.
Ebitda margin at 45.4% versus 32.3%
Net profit increased 67% to Rs 71.6 crore.
Dividend of Rs 2 per share of face value Rs 10 each
Asian stocks slumped after the U.S. Federal Reserve raised interest rate by 75 basis points and said it would increase rates further in its battle against inflation, snapping risk appetite and sending global equities to their worst day in nearly a month.
Benchmark equity gauges in Australia and South Korea fell in the wake of the S&P 500’s 2.5% drop. Bitcoin fell 0.2% to $20,140.8 Wheat prices fell by the most since the early weeks of the war in Ukraine after Russia reversed a decision to block shipments.
Oil fell to unwind a recent rally. India benchmarks indices broke their rally to end lower, dragged by telecommunications and realty stocks ahead of the release of U.S. Federal Reserve's policy statement.
Rupee erased earlier gains against the U.S. dollar to close lower, hours before the Federal Reserve policy announcement.
At 6:16 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- slipped 0.84% to 18,010.