Share Market Today: Sensex, Nifty Extend Gains To Third Straight Week; FPIs Stay Net Buyers

– Fusion MicroFinance IPO fully subscribed as of 3 p.m. on day 3.

– Bidding was led by institutional buyers (5.21 times).

– The offer closes November 4.

Source: BSE

– Bikaji Foods IPO fully subscribed as of 12:40 p.m. on day 2.

– Bidding was led by retail investors (1.61 times).

– The offer closes November 7.

Source: BSE

The market breadth is skewed in the favour of bulls. About 1,932 stocks rose, 1374 fell and 183 remained unchanged.

– Delhi primary schools ordered shut as air quality dips.

– Delhi government mulling odd-even scheme for private cars.

– Outdoor activities curbed for students of class 5 and above.

Source: Delhi CM Arvind Kejriwal’s press conference

Sensex, Nifty pared early gains and is now trading lower. The Sensex is down 0.24% to 60,691.65, while the Nifty 50 is trading 0.19% lower at 18,018.50.

The broader indices outperformed their larger peers with MidCap and SmallCap gaining 0.15% and 0.42% respectively. Fifteen of the 19 sectoral measures complied by BSE advanced, with BSE Metal gaining over 1%.

The market breadth is skewed in the favour of bulls. About 1,671 stocks rose, 766 fell and 94 remained unchanged.

• U.S. Dollar Index at 112.89

• U.S. 10-year bond yield at 4.15% on Thursday

• Brent crude down 0.21% to $94.47 per barrel

• Nymex crude at $87.99 per barrel

• SGX Nifty down 0.12% to 18,092 as of 6:20 a.m.

• Bitcoin up 0.23% to $20,285.

Akzo Nobel India, Computer Age Management Services, Capri Global Capital, Chemplast Sanmar, Cipla, City Union Bank, Cummins India, EKI Energy Services, Elgi Equipments, Escorts Kubota, Fineotex Chemical, Gillette India, Go Fashion (India), Godrej Agrovet, Harsha Engineers International, Infibeam Avenues, JSW Holdings, Mahindra Logistics, Marico, Minda Corporation, Nava, Paradeep Phosphates, Poly Medicure, Hitachi Energy India, Shipping Corporation Of India, Shivalik Bimetal Controls, Sterlite Technologies, Tatva Chintan Pharma Chem, Tube Investments of India, Titan Company, TTK Prestige, TVS Motor Company, ZF Commercial Vehicle Control Systems India

• Wipro: The company appointed Amit Choudhary as chief operating officer. He will manage global business operations, delivery excellence, CIO, CISO, and enterprise risk management functions.

• Persistent Systems: The company entered into a partnership with Software AG to develop joint solutions for enterprise clients.

• SKF India: The board approved investment of investment of Rs 4.3 crore for 26% in a wind and solar power project SPV in Bengaluru, and additional investment of Rs 1.5 crore for expansion of a captive solar power plant in Pune.

• Man Infraconstruction: The board will convene on Nov. 10, 2022 to consider payment of interim dividend for the current fiscal.

• Fino Payments Bank: The company appointed Rakesh Bhartia as part-time chairman for a period of three years, awaiting RBI approval.

• Cochin Shipyard: The company bagged an international order for two commissioning service operation vessels from a European client to be used for wind farm installations. The client has the option order four more such vessels within one year.

• Welspun Corp: The company’s board approved acquisition of entire share capital of newly incorporated Propel Plastic Products for Rs 10,000.

Adani Enterprises Q2 FY23 (Consolidated YoY)

• Revenue increased 189% to Rs 38,175.23 crore Vs Rs 13,218.02 crore (Bloomberg estimate: Rs 34,669.8 crore)

• Ebitda increased 121% to Rs 2069.86 crore Vs Rs 938.25 crore (Bloomberg estimate: Rs 1,643.8 crore)

• Ebitda margin at 5.4% vs 7.1% (Bloomberg estimate: 4.7%)

• Net profit increased 117% to Rs 460.94 crore Vs Rs 212.41 crore (Bloomberg estimate: Rs 554.20 crore)

Hero MotoCorp Q2 FY23 (Consolidated YoY)

• Revenue increased 7% to Rs 9,158.23 crore Vs Rs 8,538.85 crore.

• Ebitda flat at Rs 1,086.47 crore.

• Ebitda margin at 11.9% Vs 12.7%.

• Net profit declined 8% to 688.44 crore Vs Rs 745.72 crore

Vodafone Idea Q2 FY23 (Consolidated QoQ)

• Revenue increased 2% to Rs 10,614.6 crore Vs Rs 10,410.1 crore (Bloomberg estimate: Rs 10,518.88 crore)

• Ebitda declined 5% to Rs 4,097.5 crore Vs Rs 4,328.4 crore (Bloomberg estimate: Rs 4,496.43 crore)

• Ebitda margin at 38.6% vs 41.6% (Bloomberg estimate: 44.3%)

• Net loss widened to Rs 7,595.5 crore Vs Rs 7,296.7 crore (Bloomberg estimate: Rs 6,974.93 crore)

Hindustan Petroleum Q2 FY23 (Consolidated YoY)

• Revenue increased 30% to Rs 1.14 lakh crore Vs Rs 87,364.27 crore

• Operating loss of Rs 326.86 crore Vs operating profit of Rs 2,482.24 crore

• Operating margin of -0.3% Vs 3%

• Loss of Rs 2,475.69 crore vs profit of Rs 1,918.89 crore

Sanofi India Q3 FY23 (YoY)

• Revenue declined 8% to Rs 691.9 crore Vs Rs 754.5 crore (Bloomberg estimate: Rs 729.7 crore)

• Ebitda declined 9% to Rs 181.9 crore Vs Rs 198.8 crore (Bloomberg estimate: Rs 166.43 crore)

• Ebitda margin unchanged at 26.3% (Bloomberg estimate: 22.8%)

• Net profit declined 75% to Rs 130.9 crore Vs Rs 529.8 crore (Bloomberg estimate: Rs 123.37 crore)

Rain Industries Q3 FY23 (Consolidated QoQ)

• Revenue increased 1% to Rs 5,577.1 crore Vs Rs 5,540.55 crore

• Ebitda declined 32% to Rs 864.45 crore Vs Rs 1,279.11 crore

• Ebitda margin at 15.5% Vs 23.1%

• Net profit declined 40% to Rs 403.22 crore Vs Rs 668.46 crore

Ajanta Pharma Q2 FY23 (Consolidated YoY)

• Revenue increased 6% to Rs 938.1 crore Vs Rs 884.8 crore (Bloomberg estimate: Rs 930.13 crore)

• Ebitda declined 25% to Rs 196.34 crore Vs Rs 262.82 crore (Bloomberg estimate: Rs 239.77 crore)

• Ebitda margin at 20.9% Vs 29.7% (Bloomberg estimate: 25.8%)

• Net profit declined 20% to Rs 156.6 crore Vs Rs 195.94 crore (Bloomberg estimate: Rs 170.53 crore)

• Dividend of Rs 7 apiece on face value of Rs 2 each

Blue Star Q2 FY23 (Consolidated YoY)

• Revenue increased 27% to Rs 1,576.24 crore Vs Rs 1,239.74 crore (Bloomberg estimate: Rs 1,412.64 crore)

• Ebitda increased 21% to Rs 85.59 crore Vs Rs 70.7 crore (Bloomberg estimate: Rs 80.69 crore)

• Ebitda margin at 5.4% Vs 5.7% (Bloomberg estimate: 5.7%)

• Net profit increased 36% to Rs 42.55 crore Vs Rs 31.36 crore (Bloomberg estimate: Rs 37.95 crore)

SKF India Q2 FY23 (Consolidated YoY)

• Revenue increased 12% to Rs 1,078.26 crore Vs Rs 966.37 crore (Bloomberg estimate: Rs 1,115.80 crore)

• Ebitda increased 34% to Rs 214.56 crore Vs Rs 159.75 crore (Bloomberg estimate: Rs 195.30 crore)

• Ebitda margin at 19.9% Vs 16.5% (Bloomberg estimate: 17.5%)

• Net profit increased 33% to Rs 155.82 crore Vs Rs 117.56 crore (Bloomberg estimate: Rs 139.50 crore)

Amara Raja Batteries Q2 FY23 (Consolidated YoY)

• Revenue increased 19% to Rs 2,700.47 crore Vs Rs 2,264.15 crore

• Ebitda increased 33% to Rs 358.71 crore Vs Rs 269.11 crore

• Ebitda margin at 13.3% Vs 11.9%

• Net profit increased 39% to Rs 201.22 crore Vs Rs 144.32 crore (Bloomberg estimate: Rs 111.3 crore)

• Dividend of Rs 2.90 per share of face value Re 1.

Siyaram Silk Mills Q2 FY23 (Consolidated YoY)

• Revenue increased 32% to Rs 635.76 crore Vs Rs 480.37 crore

• Ebitda increased 41% to Rs 119.4 crore Vs Rs 84.63 crore

• Ebitda margin at 18.8% Vs 17.6%

• Net profit increased 52% to Rs 80.13 crore Vs Rs 52.89 crore

• Dividend of Rs 4 per share for each share of face value Rs 2

Equities edged lower in Australia while Japanese shares fell more heavily as investors played catchup after Thursday’s holiday. US futures inched down after the S&P 500 saw its fourth straight decline. 

Bitcoin rose 0.3% to $20,296.37, while West Texas Intermediate crude fell 0.3% to $87.90 a barrel.

India's benchmark indices closed in the red for the second day in a row on Thursday, with information technology and utility stocks playing spoilsport.

The rupee waned against the greenback after the U.S. Federal Reserve hiked policy rates by another 75 basis points.

At 6:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.12% to 18,092.