Mahindra & Mahindra shares gained 0.36%. Of the 48 analysts tracking the company, 42 maintain 'buy', four suggest 'hold' while two recommend 'sell'. The return potential of the stock is 5.2%.
M&M Wholesale Sales In October (YoY):
India passenger vehicle sales rose 60% to 32,298 units
Domestic three-wheeler dispatches jumped 44% to 5,081 units
Total tractor sales rose 11% to 51,994 units
Source: Exchange Filing
Tata Motors shares sustained gains after the automaker posted its monthly wholesale numbers in the month of October.
The stock rose as much as 1.27% intraday and is now trading 0.78% up. Of the 34 analysts tracking the company, 26 maintain 'buy', five suggest 'hold' while three recommend 'sell'. The return potential of the stock is 23.6%.
Tata Motors Wholesale Sales In October (YoY):
Total passenger vehicle sales rose 33% to 45,423 units
Total domestic dispatches rose 17% to 76,537 units
Total sales of commercial vehicles fell 2% to 32,912 units
Source: Exchange Filing
Shares of FSN E-Commerce Ventures, which operates beauty and apparel platform Nykaa, rose after the company posted its quarterly earnings.
The stock went up as much as 6.99% intraday. It is now trading 4.35% up. Total traded quantity is 14 times the 30-day average.
Of the 19 analysts tracking the company, 13 maintain 'buy', four suggest 'hold' while two recommend 'sell'. The return potential of the stock is 36%.
Nykaa Q2 FY23 (Consolidated figures, QoQ)
Revenue up 7% at Rs 1230.83 crore Vs Rs 1148.42 crore
Net profit up 4% to Rs 5.2 crore Vs Rs 5.01 crore
EBITDA rose 33% to Rs 61.13 crore Vs Rs 46.05 crore
Margins at 5% Vs 4%
Source: BSE Filing
The market breadth is skewed in the favour of bulls. About 1,752 stocks rose, 1,602 fell and 151 remained unchanged.
Ashok Leyland shares declined after the automaker posted its monthly sales numbers.
The stock fell as much as 3.20%- the most since Oct. 11. The stock is currently down 3.13%. Total traded quantity was 1.3 times the 30-day average.
Of the 47 analysts tracking the company, 39 maintain 'buy', seven suggest 'hold' while one recommends 'sell'. The return potential of the stock is 17.1%
Ashok Leyland Wholesale Sales In October (YoY):
Total sales rose 34% to 14,863 units
Domestic dispatches rose 38% to 13,860 units
Domestic sales of medium and heavy commercial vehicles jumped 56% to 8,189 units
Source: Exchange Filing
- Collections have remained above Rs 1.4 lakh crore for eight months in a row
- This is the second time the collections have cross the Rs 1.5 lakh crore mark after the highest ever collections in April.
Gross GST revenue collected in October is Rs 1,51,718 crore
CGST is Rs 26,039 crore,
SGST is Rs 33,396 crore,
IGST is Rs 81,778 crore (including Rs 37,297 crore collected on import of goods)
Cess is Rs 10,505 crore (including Rs 825 crore collected on import of goods)
Source: PIB
Maruti Suzuki India slipped 0.7% after posting its October sales numbers. Total traded quantity was 1.5 times the 30-day average.
Of the 52 analysts tracking the company, 38 maintain 'buy', eight suggest 'hold' while six recommend 'sell'. The return potential of the stock is 11.1%.
Maruti Suzuki Wholesale Sales In October (YoY):
Total sales rose 21% to 167,520 units
Domestic dispatches rose 25.7% to 147,072 units
Sales in the mini and compact segment jumped 39.8% to 98,621 units
Utility vehicle dispatches rose 14.4% to 30,971 units
Exports declined 4.1% to 20,448 units
Source: Bloomberg, Exchange Filing
-Alembic Pharmaceuticals received final approval from the US Food & Drug Administration for its Abbreviated New Drug Application for Glycopyrrolate Injection
-The drug has estimated market size of $42 million (Rs 347.42 crore) for year ended June.
-The drug is used before and during surgery to reduce salivary, and gastric secretions and to block reflexes during anesthesia.
Source: Exchange filing
-Manufacturing PMI was at 55.3 in October compared to 55.1 in September.
Source: S&P Global
The market breadth is skewed in the favor of bulls. About 1,842 stocks rose, 856 fell and 112 remained unchanged.
-Gateway Distriparks will acquire 99.2% equity shareholding of Kashipur Infrastructure and Freight Terminal Private Ltd.
-The company will buy 63.20 lakh equity shares from its existing shareholders.
-The purchase consideration for the acquisition Rs. 155.86 crore.
-The acquisition is likely to be completed within the third quarter of FY 2022-23
Source: Exchange filing
U.S. Dollar Index at 111.55
U.S. 10-year bond yield at 4.05% on Monday
Brent crude down 0.98% to $94.83 per barrel
Nymex crude at $86.08 per barrel
SGX Nifty up 0.20% at 18,096.5 as of 6:33 a.m.
Bitcoin up 0.27% at $20,460.21
Adani Ports And Special Economic Zone, Chambal Fertilisers & Chemicals, Cholamandalam Investment and Finance Company, CMS Info Systems, Dhanuka Agritech, Elantas Beck India, JK Tyre & Industries, Kansai Nerolac Paints, Karnataka Bank, LIC Housing Finance, Macrotech Developers, Max Healthcare Institute, FSN E-Commerce Ventures, Punjab National Bank, Prudent Corporate Advisory Services, Sun Pharmaceutical Industries, Tata Investment Corporation, Tech Mahindra, UPL, Varun Beverages, Voltas, Whirlpool Of India.
LIC Housing Finance: The Reserve Bank of India imposed a fine of Rs 35 lakh against the company over regulatory non-compliance.
Axis Bank: Bain Capital is planning to sell 1.24% of total shares outstanding at the company at a discount of up to 2% to the closing price on Oct. 31, according to Bloomberg News. Direct sellers of the shares are — BC Asia Investments VII Ltd., BC Asia Investments III Ltd. and Investments South Asia IV. There is 30-day lock-up period on the sellers.
GHCL: The board approved the acquisition of a specified business undertaking in the Junagarh district of Gujarat on a slump sale basis from Ajmera Cements for Rs 27 crore. It also approved the liquidation of U.S.-based subsidiary Grace Home Fashions LLC, and additional capex for a rooftop solar power project of 5 MW in the yarn division of the company.
Trident: The company approved the put option exercised by Standard Chartered Bank against its NCDs, amounting to a payout of Rs 93.75 crore.
HFCL: The company received approval from SIDBI, Project Management Agency, and competent authority under the PLI Scheme to avail incentives worth Rs 652.79 crore on production and sales of telecom and networking products over a period of five years from 2022-23 to 2026-27.
Bharat Electronics: The company signed an agreement with Hyderabad-based Meslova Systems for cooperation in areas of artificial intelligence and machine learning for air defence systems for the armed forces. Also Dinesh Kumar Batra has retired as the Chairman and Managing Director of the company.
Cyient: The board of the company and its wholly owned subsidiary, Cyient DLM, have accorded approval for part-divestment of the latter, including but not Iimited to IPO.
Shriram Properties: The company signed an MoU with ASK Property Fund to set up a Rs 500-crore investment platform to acquire housing projects in Bengaluru, Chennai, and Hyderabad.
Zomato: The company will liquidate its Doha-based joint venture Zomato Media WLL with effect from Oct. 25. 2022.
Vakrangee: The RBI has imposed a penalty of Rs 1.76 crore on the company for non-compliance with certain provisions of the White Label ATM directions.
Glenmark Pharmaceuticals: The company launched Fingolimod capsules in 0.5 mg capacity in the U.S.
Bharti Airtel Q2 FY23 (Consolidated QoQ)
Revenue increased 5% to Rs 34,526.8 crore, compared with Bloomberg estimate of Rs 34,000.5 crore
Net profit increased 33% to 2,145.2 crore, compared with Bloomberg estimate of Rs 2,327.3 crore
Ebitda increased 7% to Rs 17,721.2 crore, compared with Bloomberg estimate of Rs 17,228.6 crore
Ebitda margin increased to 51.3% from 50.6%. Bloomberg estimate: 50.7%
Tata Steel Q2 FY23 (Consolidated YoY)
Revenue declined 1% to Rs 59,877.5 crore, compared with Bloomberg estimate: Rs 56,321.5 crore.
Net profit declined 87% to Rs 1,514.4 crore, compared with Bloomberg estimate of Rs 3,154.7 crore.
Ebitda declined 62% to Rs 6,271 crore, compared with Bloomberg estimate of Rs 7,485.8 crore.
Ebitda margin increased to 10.5% from 27.5%. Bloomberg estimate: 13.3%
Larsen & Toubro Q2 FY23 (Consolidated YoY)
Revenue increased 23% to Rs 42,762.6 crore, compared with Bloomberg estimate of Rs 39,149.3 crore.
Net profit increased 26% to Rs 2,819.2 crore, compared with Bloomberg estimate of Rs 2,334.4 crore.
Operating profit increased 23% to Rs 4899.4 crore, compared with Bloomberg estimate of Rs 4,378 crore.
Operating margin increased to 13.7% from 11.5%. Bloomberg estimate: 11.2%
Castrol India Q3 FY22 (YoY)
Revenue increased 4% to Rs 1,121.1 crore.
Net profit increased 1% to Rs 187.1 croe.
Ebitda declined 2% to Rs 257.1 crore.
Ebitda margin at 22.9% vs 24.4%
TCI Express Q2 FY23 (QoQ)
Revenue increased 7% to Rs 309.9 crore.
Net profit increased 22% to Rs 37.7 crore.
Ebitda increased 20% to Rs 51.4 crore.
Ebitda margin at 16.6% vs 14.7%
Declared interim dividend of Rs 3 per equity share of face value of Rs 2
Equitas Small Finance Bank
Net profit increased 183% t0 Rs 116.4 crore (YoY)
Net interest income increased 26% to Rs 610 crore (YoY)
GNPA at 3.82% vs 3.95% (QoQ)
NNPA at 1.93% vs 2.07% (QoQ)
LT Foods Q2 FY23 (Consolidated YoY)
Revenue increased 31% to Rs 1,724.8 crore
Net profit increased 17% to Rs 89.5 crore
Ebitda increased 11% to Rs 171.6 crore
Ebitda margin at 10% vs 11.7%
Declared interim dividend of Rs 0.50 per share on equity shares of Re. 1 each
GHCL Q2 FY23 (Consolidated YoY)
Revenue increased 71% to Rs 1,381.1 crore.
Net profit increased 222% to Rs 300.4 crore.
Ebitda increased 153% to Rs 433.8 crore.
Ebitda margin at 31.4% vs 21.3%
Timken India Q2 FY23 (YoY)
Revenue increased 25% to Rs 695.4 crore.
Net profit increased 23% to Rs 97.6 crore.
Ebitda increased 7% to Rs 132.1 crore.
Ebitda margin at 19% vs 22.2%
Asian stocks inched up on Tuesday amid higher bond yields even as investors' focus shifted to central bank decisions and further interest rate hikes.
Equities gained little in Japan, South Korea and Australia while futures for Hong Kong climbed. Meanwhile, U.S.-listed Chinese stocks fell and the S&P 500 declined, dragged down by big tech.
Australian bond yields advanced ahead of a projected 25-basis-points rate hike by the central bank later Tuesday.
U.S. stocks declined as traders wait for the U.S. Federal Reserve’s meeting on Wednesday. Meanwhile, bond yields surged, with 10-year Treasuries rising 8 basis points to 4.09%.
The S&P 500 fell 0.8%, while the tech-heavy Nasdaq 100 fell 1.3%. Oil fell 1.8%. Gold also tumbled 0.5%. Bitcoin fell 1.5% to trade around $20,400-level.
Domestic benchmarks gauges rose for the second week in a row, aided by gains in PSU banks, auto, energy and realty stocks, even as several companies released their results.
The rupee closed near the day’s low against the U.S. dollar after depreciating 32 paise in the final hour on Monday.
At 8:29 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- gained 0.59% to 18,167.5.
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