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As of 3:30 p.m., the Dow Jones Industrial Average future rose 0.09% to 41,996.00, and the S&P 500 future rose 0.16% to 5,752.00. The Nasdaq 100 future was 0.30% to 20,145.75.
US: Presidential Elections
US: Congressional Elections
US: Trade Balance
US: Final Services PMI
US: 10-year Bond Auction
Rupee closed flat at 84.109 against the US dollar.
It closed at 84.114 on Monday.
Source: Bloomberg
Nifty and Sensex recovered in last two hours to record their best sessions since Sept. 20
Nifty ended 0.91% or 217.95 points higher at 24213.30
Sensex ends 0.88% or 694.39 points higher at 79476.63
Intraday, both Nifty and Sensex fell as much as 0.6% each
Broader indices underperformed with Nifty Smallcap 250 ending 0.6% higher and Nifty Midcap 100 ended 0.5% up
Most sectoral indices rose. Nifty Metal rose the most and Nifty FMCG was top loser
JSW Steel and Bajaj Auto were top Nifty gainers
Coal India and Adani Ports fell the most
European indices opened higher ahead of US elections. At 2:48 p.m., UK's FTSE was 0.3% higher, France's CAC 40, pan-European Stoxx 600 and Germany's DAX was 0.2% higher.
Total Income up 17% at Rs 323 crore vs Rs 277 crore
Net Profit up 15% at Rs 137 crore vs Rs 119 crore
Revenue down 1.2% at Rs 917 crore versus Rs 928 crore.
Ebitda up 15.7% at Rs 81.2 crore versus Rs 70.2 crore.
Margin at 8.8% versus 7.6%.
Net profit at Rs 185 crore versus Rs 51 crore.
Alkyl Amines Q2 Results Highlights
Revenue up 17.8% at Rs 415 crore versus Rs 352 Cr
Ebitda up 52.4% at Rs 73.6 crore versus Rs 48.3 crore.
Margin at 17.7% versus 13.7%.
Net profit up 74.5% At Rs 47.5 crore versus Rs 27.2 crore.
Despite lesser number of new thematic new fund offers during the month, retail investors continued to allocate funds, industry insiders told NDTV Profit. The data is not being made public by the Association of Mutual Fund of India.
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Exide Industries Ltd.'s target price was cut by both Citi and Nuvama after the company's second-quarter profit declined, missing analysts' estimates. The revisions also reflect the brokerages' concerns over moderating demand, higher-than-expected costs, and more cautious earnings growth projections in the near term.
Read more here.
Ola's Valuation Cut To $2 Billion By Vanguard
KP Energy has received orders of up to 1,004 MW for development of energy projects from KPI Green Energy, an exchange filing said. These projects are won by KPI Green Energy Limited under the various tenders of the Gujarat Urja Vikas Nigam Limited and are expected to be completed in line with the timelines under definitive agreements.
The stock hit its lifetime high of Rs 636.40 following the news.
NTPC has signed formed 50:50 joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. to own and operate the latter's power plant at Chhabra and also explore opportunities for its capacity expansion.
Amara Raja Share Price Falls As Nuvama Cuts Target Price After Q2 Profit Miss
Even as the benchmarks are seeing the worst session in over four years, Indian stock market has not yet fully priced in the extent of the slowdown that could be on the cards, according to Bernstein Research.
India Inc. is set to face further heat with monsoons and elections being only part of the reasons for the earnings' misses, Bernstein said.
P&G Health Share Price At Over Three-Year High After Q1 Margin, Profit Increase
Swiggy Ltd.'s initial public offering, structured as a book-built issue, is aimed at raising a total of Rs 11,327.4 crore. The IPO comprises a fresh issue of 11.54 crore shares valued at Rs 4,499 crore and an offer-for-sale of 17.51 crore shares amounting to Rs 6,828.4 crore. The IPO subscription window is open from Nov. 6 to Nov. 8, 2024. The allotment is expected to be finalised by Nov. 11, and
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Tilaknagar Industries Share Price Jumps To Over One-Month High As Q2 Profit Rises
China stock indices rose after opening on a cautious note tracking several factors including the country's service activity data, Premier Li Qiang comments, and as its top legislative body reviewed a proposal that aims to reduce the financial burden of local officials.
As of 10:05 a.m., Shanghai Composite index rose 1.8% to 3,369.70 points and Shenzhen Component index was 2.7% higher at 10,952.91 points. CSI 300 was up 2% at 4,023.24 and Hong Kong's Hang Seng rose more than 1% to 20,823.36.
FTR transport intelligence reported that preliminary North American Class 8 net orders in October totaled 28,300 units. This is 14% MoM decline but a 2% YoY increase and somewhat short of seasonal expectations due to average October order level over the last seven years is 33,940 units.
Given continued stagnation in truck freight market, this is a healthy order number while suggesting that some fleets are being cautious as they order new trucks for 2025.
Larsen & Toubro has entered into investment agreement for acquisition of up to 21% stake in E2E Networks for Rs 1,079 crore. The acquisition is expected to be completed by December 31 and the company will invest via preferential allotment, an exchange filing said.
At pre-open, both Nifty 50 and Sensex were 0.3% lower at 23916.50 and 78544.44 points respectively. "The most immediate support level for the Nifty is identified near 23900," said Ameya Ranadive, senior technical analyst at StoxBox. "Should this level be breached, there is a potential for further exacerbation of the current market weakness."
The yield on the 10-year bond opened flat at 6.863%. after it closed at 6.83% on Monday, according to Bloomberg.
The Indian rupee weakened by 2 paise to record low of 84.13 against the US dollar, according to Bloomberg data. It had closed at 84.11 on Monday.
RVNL has emerged as lowest bidder for engineering, procurement, and construction order worth Rs 625 crore from South Central Railway, an exchange filing said.
According to Market Veteran Ramesh Damani, US election is most important in the world, because the President is the leader of the free world. U.S. Presidential Election is neck to neck, but will be decided by Electoral College and there are 60-70 Electoral College votes that matter. For Kamala to win, she would have to win the "Blue Wall", he said adding that two states could pose surprises - Iowa and New Hampshire.
On a year-on-year basis October number of orders grew 62% at 17 crore, average client funding book grew 119% to Rs 4,119 crore, and client base grew 57.8% to 2.8 crore, an exchange filing said.
Sandur Manganese has approved the acquisition of 20% additional stake In Arjas Steel, according to an exchange filing. Post the acquisition, the company will hold stake aggregating up to 99.12% equity stake in Arjas Steel Private Limited.
Nuvama retain 'Buy' with a revised target price of Rs. 1,580 vs 1,980 earlier
Q2FY25 revenue/EBITDA grew 12%/8% YoY
The company's 10-year plan is to expand lithium ion capacity to 16GWH with investment of Rs. 9500 cr
Cutting FY25–27E EBITDA by 3–4% factoring in lower margin assumption
Building in FY24–27E core (lead acid battery) revenue/EBITDA CAGR of 9%/10%
TP Based on 15x Sep-26E EPS for lead acid battery business
Investment value for lithium business lowered to 2x vs 3x earlier
Exide Industries Q2 Results: Profit Dips Nearly 14%, Revenue Ticks Higher
Oil Prices Surge As OPEC+ Extends Supply Cuts, Middle East Tensions Flare
Asian Stocks Trade Cautious As US Election Uncertainty Grips Investors
Wall Street Shuns Risk Before Coin-Toss Election: Markets Wrap
On Monday, the NSE Nifty 50 and the BSE Sensex closed at their lowest levels in over a month, led by declines in Reliance Industries Ltd. and HDFC Bank Ltd.
The Nifty 50 settled 309.00 points, or 1.27%, lower at 23,995.35, and the Sensex fell 941.88 points, or 1.18%, to end at 78,782.24. The Nifty fell as much as 2.01% during the day to 23,816.15—a first since Aug. 6. The Sensex declined 1.87% during the day to 78,232—its first since Aug. 14.
Overseas investors remained net sellers of Indian equities for the 26th consecutive session on Monday, while domestic institutional investors turned net buyers after a session of selling.
Foreign portfolio investors offloaded stocks with an approximate value of Rs 4,329.8 crore and the DIIs bought stocks worth Rs 2,936.1 crore, according to provisional data from the National Stock Exchange.
The Indian currency closed flat against the US dollar at 84.11 on Monday.
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