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The S&P 500 Futures was 0.52% down at 5,866.75 and Dow Jones Industrial Average futures fell 0.49% down at 42,968.00 as of 3:38 p.m. IST. The Nasdaq 100 futures was 0.61% down at 20,395.50 as of 3:39 p.m. IST.
UK: Bank of England Governor Andrew Bailey will speak at the Bloomberg Global Regulatory Forum, in New York — 6:55 p.m. IST
UK: External BOE MPC Member Megan Greene will speak at the Atlantic Council's converstations, the IMF and the World Bank Group annual meetings in Washington DC — 7:15 p.m. IST
US: Federal Reserve Bank of Philadelphia President Patrick Harker will speak at the Annual Fintech Conference — 7:30 p.m. IST
US: Richmond Manufacturing Index — 7:30 p.m. IST
Market breadth was skewed in the favour of sellers. As many as 3,407 stocks fell, 576 rose, and 76 were unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex closed at the lowest level since Aug 14
During the last leg of the trade, the Nifty 50 fell as much as 1.35% to 24,45.80, and the Sensex fell 1.23% to a low of 80,149.53.
The India NSE Volatility Index rose 5.14% to 14.47, the highest level since Oct 19. It closed 4.21% higher at 14.34.
Reliance Industries Ltd., HDFC Bank Ltd., and Mahindra & Mahindra Ltd. were top laggards in the Nifty 50 index.
ICICI Bank Ltd., Nestle India Ltd. were top leaders in the Nifty 50 index.
The NSE Nifty PSU Bank declined the most while the NSE Nifty FMCG declined the least.
The NSE Nifty Midcap 150 ended 2.57% down at 20,879.45.
The NSE Nifty Smallcap 250 ended 5.27% down at 17,275.70.
Net Profit rose 21.8% to Rs 25.6 crore vs Rs 21crore
Revenue rose 14.5% to Rs 155 crore vs Rs 135 crore
Ebitda rose 18.9% to Rs 34.2 crore vs Rs 28.7 crore
Margin at 22% Vs 21.2%
Revenue up 68% at Rs 6,184 crore vs Rs 3,674 crore
Ebitda up 19% at Rs 1,787 crore vs Rs 1,505 crore
Ebitda margin at 28.9% vs 40.9%
Net profit up 172% at Rs 773 crore vs Rs 284 crore
NBCC (India) arm got work orders worth Rs 1,322 crore from Employees State Insurance Corp, it said in an exchange filing.
Revenue rose 2.5% to Rs 1,045 crore vs Rs 1,020 crore
Ebitda rose 5.9% to Rs 125 crore vs Rs 118 crore
Margin At 11.9% Vs 11.5%
Net Profit rose 2.6% at Rs 59 crore vs Rs 57.5 crore
Net Profit fell 22.8% to Rs 85.5 crore vs Rs 111 crore
Revenue rose 5.1% to Rs 1,179 crore vs Rs 1,122 crore
Ebitda fell 12.2% to Rs 158 crore vs Rs 180 crore
Margin at 13.4% vs 16.1%
Revenue down 1% at Rs 682 crore vs Rs 690 crore
Ebitda down 50% at Rs 31 crore vs Rs 61 crore
Ebitda margin at 4.5% vs 8.9%
Net profit down 59% at Rs 15.7 crore vs Rs 37.9 crore
Catch latest second quarter earnings from One 97 Communications Ltd., ICICI Securities Ltd., Coforge Ltd., and Varun Beverages Ltd. on NDTV Profit website here.
Ebitda margin at 14.1% vs 15.4%
Ebitda down 10% at Rs 320 crore vs Rs 356 crore
Revenue down 1.6% at Rs 2,273 crore vs Rs 2,309 crore
Net Profit fell 15% at Rs 207 crore vs Rs 243 crore
Allianz is considering exit from life and general insurance joint venture, Bajaj Finserv confirmed.
Allianz indicated that it is committed to Indian insurance market. Discussions with Allianz are at preliminary stage and there is no proposal before the board, it said in an exchange filing
Net Profit rose 24.9% to Rs 529 crore compared to Rs 424 crore
Revenue rose 36.7% to Rs 1,707 crore compared Rs 1,249 crore
Buzzing Stocks At Noon: Top Gainers And Laggards
NBCC (India) Ltd. received multiple work orders worth Rs 128 crore, it said in an exchange filing. The total worth of the order is Rs 127.50 crore.
The company received the businesses from Oil India Ltd., India Infrastructure Finance Co. Ltd. and Munitions India Ltd.
Paytm Share Price Drops 5% After Q2 Report As Company Promises Loan Default Guarantees
Amber Enterprises Share Price Tumbles Over 10% Ahead Of Q2 Results
One 97 Communications Ltd. will provide Rs 225 crore loss guarantee to SMFG India Credit Co. Ltd. over time. The company will provide default loss guarantee on Loans disbursed by lending partner to merchants, it said in an exchange filing.
Mazagon Dock Shipbuilders Share Price Falls, Board To Consider Stock Split, Dividend
SEBI is working on expanding the bond market, simplifying bond issuances, and increasing transparency.
Retail bond market participation has increased, with Rs.8.6 lakh crores raised in FY 2024.
Source: Ashwani Bhatia, WTM at SEBI, speaking at the Morningstar Investor's event
Hyundai Motor India Shares List At 1.5% Discount Over IPO Price, Analysts Initiate Buy
Asian currencies declined against the US unit as the dollar index continued to trade near the highest level since Aug 2. The dollar index, which measures the greenback's strength against major currencies, rose above the 104.00 mark for the first time as the US Federal Reserve officials' remark suggested slower pace of monetary easing.
The Philippine peso declined the most against the US dollar. It was trading 0.46% down at 57.83 a dollar as of 09:48 a.m.
The Indonesian rupiah and Malaysian Ringgit were followed the Philippine pesos's declined. The currencies were trading 0.37% and 0.36% down respectively against the US dollar as of 09:55 a.m.
Orient Cement Share Price Hits Life High After Ambuja Cements Announces Acquisition
Market breadth was skewed in favour of sellers. Around 1,875 stocks declined, 923 stocks advanced, 120 stocks remained unchanged on BSE.
Adani's Ambuja Cements Acquires Orient Cement For Rs 8,100 Crore
At pre–open, the NSE Nifty 50 was trading 0.07% higher at 24,798.65, and the BSE Sensex was trading flat at 81,155.08.
The yield on the 10-year bond opened flat at 6.84%. It closed at 6.83% on Monday, according to data on Bloomberg.
Rupee opened flat at 84.06 against the US dollar. It closed at 84.07 on Monday, according to data on Bloomberg.
UBS Global Research maintains a 'Buy' and raised the target price Rs 8,000 from Rs. 5,000. The current price implied a 22% upside from Monday's closing price.
Exponential growth and new product launches like monthly gold options are catalysts
In the last 12months, earnings estimates have risen by 60% & 75% for FY25 and FY26
Q2 performance strong, Q3 looking better
Volumes and premium increase driving better revenue
Electricity derivatives and other products still under development
Value at 40x FY27E EPS
Risks: regulatory measures, product approval delays, malfunction to platform
Wipro Ltd. partnered with Ericsson billing platform to transform Odido's billing experience for customers, it said in an exchange filing.
Jefferies maintains 'Buy' on UltraTech Cement Ltd. which cut target to Rs 12,500, which implied a 15% upside
The September quarter Ebitda weakness reflects impact of price weakness
Jefferies believe multi-year Ebitda/tonne low has likely bottomed out
- Believe H2 volumes & profitability will be better
The company is better places vs peers with cost saving efforts
Sharply cut Ebitda estimate by 7-14%
Jefferies expects Ebitda per tonne of Rs 1000/1120-1220 for FY25/FY26-27
Bajaj Housing Finance Ltd. share price is expected to react in Tuesday's session as the company reported a 21% growth in its net profit from July–September. The net profit rose on the year to Rs 546 crore during the second quarter. To know about Bajaj Housing Finance Ltd.'s Q2 earnings click here.
Initiates coverage with Buy at target price Rs 2,472, which implied an upside of 19.6%
Ongoing premiumization should drive high quality growth
Long runaway for India car industry with current penetration at 36/1000
Estimate India's PV Industry to sustain healthy volume CAGR 6-8% over 5-10 years
Customers becoming more aspirational and willing to pay more for features
Hence believe ASPs should continue to rise by 3-5%
Poised for long term growth with SUV mix at 67%, improving ASP & market share
Believe Co is best positioned in PV OEM Coverage to handle tech transitions
Hyundai been consistently been able to predict consumer shift like towards SUVs
Having Indian management on board is a key advantage
Estimate Co to deliver 8% volume growth CAGR over FY25-27 driven by 7-8 models
EBITDA Margins expected to improve to 14% by FY27 vs 13.1% in FY24
Overall estimate Hyundai to deliver 17% earnings CAGR over FY25-27
Estimate stock at 25x FY27 P/E
Gold prices stopped its record rally on Tuesday as a rise in US Treasury yields and dollar index reduced its charm to the investors. The prices were hitting record high since Thursday.
Gold December future was trading 0.14% higher at $2,742.80 an ounce as of 07:31 a.m.
The benchmark 10–year US Treasury note surged 2.74% to 4.20%, touching the highest level since July 26, according to data on Bloomberg. The safe–haven rose as the Federal Reserve Bank of Kansas City President Jeffrey Schmid said that he favoured the slower pace of rate cuts.
Further, Minneapolis Fed President Neel Kashkari said the long–term trajectory of rates could be higher.
The yield on the 10–year US Treasury note was trading 0.06% higher at 4.19 as of 7:16 a.m. IST
Asian Stocks Mirror Wall Street Decline Amid Yield Spike
US stock indices ended on a mixed note on Monday after the Federal Reserve officials' comment suggested that the monetary easing is likely to be gradual going forward.
The S&P 500 and Dow Jones Industrial Average ended 0.18% and 0.80% down, respectively. The Nasdaq Composite ended 0.27% higher.
The GIFT Nifty was trading near 24,800. Bajaj Housing Finance Ltd., Cyient DLM Ltd. share prices are likely to move as they released their quarterly results on Monday. Moreover. Eicher Motors Ltd. Shriram Finance Ltd. share prices will also be monitored by investors for the recent development. Hyundai Motor India Ltd. will be in traders' focus as the shares list on exchanges today.
The GIFT Nifty was trading 10.50 points, or 0.04%, higher at 24,790.50 as of 06:31 a.m.
The NSE Nifty and BSE Sensex ended lower on Monday, tracking a fall in Kotak Mahindra Bank Ltd. and Infosys Ltd. share prices. Nifty ended 0.29% or 72.95 points down at 24,781.10 and Sensex lost 0.09% or 73.48 points to close at 81,151.27.
Domestic market started the week on a subdued note with weak results from index heavyweights like Kotak Mahindra Bank Ltd., Tata Consumer Products Ltd. and UltraTech Cement Ltd. dragging the indices lower. On the positive side, HDFC Bank Ltd. reported steady numbers which limited the downside. Overall Motilal Financial Services Ltd. expects the market to remain under pressure led by persistent FII selling and muted domestic earnings, said Siddhartha Khemka, head-research, wealth management.
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