Trade deficit rose to $26.91 billion in October compared to $25.7 billion in September.
Exports contracted by 16.6% to $29.8 billion y-o-y.
Imports rose by 5.7% to $56.7 billion y-o-y.
On a month-on month, exports contracted by 16% in October, while imports contracted by 7.3%.
Source: Ministry of Commerce & Industry
Bank credit expected to grow by approximately 15% year on year in financial year 2023 and 2024.
Retail credit expected to grow the fastest by 17-19% YoY.
MSME credit expected to grow by 16-18% YoY.
Corporate credit may grow at a 2-year compound annual growth rate (CAGR) of 10-12% till March 2024.
Credit growth estimates factor in a GDP growth rate of 7% this fiscal year.
Source: CRISIL Statement
The broader indices almost mirrored their larger peers with mid-cap index losing 0.13%, while small-cap outperformed its large peers by losing 0.05%.
Eleven out of the 19 sectoral measures complied by the BSE declined, with BSE Metal gaining the most over 1%
The market breadth is skewed in the favour of bears. About 1,566 stocks rose, 1,828 fell and 133 remained unchanged.
Kotak Investment Advisors has secured an anchor investment of $500 million from the Abu Dhabi Investment Authority for its 13th real estate fund.
The fund is a $1 billion platform targeting opportunistic real estate investments in India.
Source: Press release
Inox Green Energy IPO was fully subscribed as of 11 a.m. on day 3.
Bidding was led by retail investors (3.44 times).
The offer closes November 15.
Source: BSE
Shares of Fusion MicroFinance listed at Rs 360.5 per share on the BSE, a discount of 2.03% to its IPO price of Rs 368.
On the NSE, the stock listed at Rs 359.50, a 2.3% discount.
Its IPO was subscribed 2.95 times.
Source: BSE, NSE
Yield on the 10-year bond fell 1 basis point to 7.27% in early trade.
Source: Bloomberg
Indian currency appreciated by 9 paise to 81.17 at the open against the greenback on Tuesday. It closed at 81.26 on Monday.
Source: Bloomberg
Godrej Woodsville records sales of over 675 homes with an area of over 6.90 lakh square feet.
The company has achieved sales worth Rs 500 crore through the launch of its new project.
Source: Exchange Filings
Key Highlights (Consolidated, YoY)
Net profit down by 73.5% at Rs 15.9 crore vs Rs 60.2 crore.
Revenue from operations down by 14.43% at Rs 667.3 crore vs Rs 779.9 crore.
Ebitda down by 35% at Rs 115.5 crore vs Rs 179.5 crore.
Source: Exchange Filings
U.S. Dollar Index at 106.66
U.S. 10-year bond yield at 3.87% on Monday
Brent crude down 3% to $93.14 per barrel
Nymex crude at $85.25 per barrel
SGX Nifty up 0.15% to 18,405.5 as of 6:30 a.m.
Bitcoin rose 0.88% to $16,529.4.
Stocks To Watch: NDTV, Biocon, Fusion MicroFinance, ONGC, Rajesh Exports, IRCTC, SpiceJet, NMDC
Biocon Q2 FY23 (Consolidated, YoY)
Revenue up 26% at Rs 2,320 crore, compared with Bloomberg estimate of Rs 2,305 crore
Ebitda up 6% to Rs 471 crore, compared with Bloomberg estimate of Rs 485 crore.
Ebitda margins at 20.3% versus 24.2% (Bloomberg estimate: 21%)
Net profit fell 66% to Rs 47 crore, compared with Bloomberg estimate of Rs 173 crore.
NMDC Q2 FY23 (Consolidated, YoY)
Revenue fell 51% at Rs 3,328 crore.
Ebitda fell 73% at Rs 851.2 crore.
Ebitda margin 25% versus 46%
Net profit fell 62% at Rs 885.6 crore.
Apollo Tyres Q2 FY23 (Consolidated, YoY)
Revenue up 17% at Rs 5,956 crore.
Ebitda up 11% at Rs 712 crore.
Ebitda margin 12% Vs 12.6%
Net profit up 12% at Rs 194.5 crore.
SpiceJet Q2 FY23 (Consolidated, YoY)
Revenues up 45% at Rs 1,954.5 crore.
Ebitda loss widens to Rs 555.3 crore versus Rs 301.3 crore
Net loss widens to Rs 833 crore from 570.6 crore
ONGC Q2 FY23 (Consolidated, QoQ)
Revenue fell 8% at Rs 1,68,656 crore.
Ebitda fell 27% at Rs 13,804.4 crore.
Ebitda margin 8% versus 10%
Net profit fell 30% to Rs 8,299.4 crore
GMR Airports Infra Q2 FY23 (Consolidated, YoY)
Revenue up 10% at Rs 1,588 crore.
Ebitda up 10% at Rs 472.7 crore.
Ebitda margin flat at 30%
Net loss at Rs 195 crore versus Rs 112.9 crore
Balkrishna Q2 FY23 (Consolidated, YoY)
Revenue up 23% at Rs 2,658 crore.
Ebitda fell 20% at Rs 426.3 crore.
Ebitda margin 16% versus 25%
Net profit fell 2% at Rs 382.3 crore.
Aarti Industries Q2 FY23 (Consolidated, YoY)
Revenue up 34% at Rs 1,685 crore.
Ebitda up 5% at Rs 267 crore.
Ebitda margin 16% versus 20%
Net profit fell 17% at Rs 124.5 crore.
IRCTC Q2 FY23 (Consolidated, QoQ)
Revenue fell 5% at Rs 806 crore.
Ebitda fell 5% at Rs 304.8 crore.
Ebitda margin flat at 38%
Net profit fell 8% at Rs 226 crore.
Asia Shares Mixed as Investors Weigh China Outlook: Markets Wrap