The S&P 500 futures down 0.18% at 5,881.75, and the Dow Jones Industrial Average future fell 0.40% to 42,996.00 as of 3:29 p.m. The Nasdaq 100 futures fell 0.28% to 20,484.00 as of 3:30 p.m.
UK: MPC Member Breeden Speaks
US: FOMC Member Bowman Speaks
Europe: ECB President Lagarde Speaks
Europe: Consumer Confidence
US: Existing Home Sales
US: Crude Oil Inventories
US: FOMC Member Barkin Speaks
Nifty and Sensex end lower for a third consecutive session
Both Nifty and Sensex recorded their lowest closing since August 14
Nifty ends 0.16% or 37.95 points down at 24434.15
Sensex ends 0.17% or 138.74 points lower at 80081.98
Intraday, both the indices had risen around 0.5%
Broader indices outperformed; Nifty Midcap 100 ended 0.5% up and Nifty Smallcap 250 closed 0.99% higher
Sectoral indices were mixed at close; Nifty IT rose the most and Nifty Pharma was top loser
Bajaj Finance and Tech Mahindra were top Nifty gainers
M&M and Sun Pharma fell the most
Most indices in Europe were lower in the early trade as investors assessed quarterly earnings with that of Deutsche Bank in focus. Pan European Stoxx 50 traded 0.4% lower as of 2:31 p.m., France's CAC fell 0.5%, and UK FTSE was 0.3% lower.
Most Asian indices were higher at close on Wednesday, except Nikkei, which fell 0.8% to close at 38,104.86 points. Hong Kong's Hang Seng gained the most by 1.27% followed by South Korea's Kospi, which rose 1.12%, China's CSI 300 closed 0.4%, and Australia's ASX 200 was 0.1% up at close.
Craftsman Automation Q2 Highlights (Consolidated, YoY)
Revenue up 3% at Rs 1,214 crore versus Rs 1,179 crore.
Ebitda down 19% at Rs 193 crore versus Rs 238 crore.
Ebitda margin at 15.9% versus 20.1%.
Net profit down 41% at Rs 61.7 crore versus Rs 104.5 crore.
Q2 Results Live Updates: Bajaj Finserv Net Profit Beats Estimates; Godrej Properties Profit Jumps 97%
Revenue down 2.4% at Rs 397 crore vs Rs 407 crore
EBITDA down 8.9% at Rs 87.4 crore vs Rs 95.9 crore
Margin at 22% vs 23.6%
Net Profit down 5% at Rs 57 crore vs Rs 60 crore
Deepak Builders & Engineers IPO Subscribed 20.15 Times So Far On Day 3
Allcargo Terminals has invested in Haryana Orbital Rail Corp to advance its Multi-Modal Logistics Park & Inland Container Depot Ambitions in North India, an exchange filing.
KPIT Tech Q2 Results (Consolidated, QoQ)
Net Profit down 0.2% at Rs 204 crore vs Rs 204 crore
Revenue up 7.8% At Rs 1,471 crore vs Rs 1,365 crore
EBIT up 4.2% At Rs 246 crore vs Rs 236 crore
EBIT Margin At 16.7% Vs 17.3%
Q2 Results Live Updates: Godrej Properties Profit Jumps Over Fourfold; HUL, TVS Motor Earnings Awaited
Waaree Energies IPO Day 3: Issue Subscribed 13.04 Times, GMP At 91.48%
As the festive season approaches, gold and silver prices are reaching near high levels in India, driven by a combination of global events, economic uncertainty, and robust investor demand.
India To Review Scrapping Windfall Tax On Crude Petroleum
The food delivery giant Zomato Ltd. hiked its platform fee from Rs 6 per order to Rs 10 to keep it running amid festival season sales.
This hike comes three months after the Gurugram-based company increased its platform fee to Rs 6 from Rs 5 per order earlier. It was not clear if all cities it operates in has seen a hike in the platform fee.
Varun Beverages Share Price Gains As Q3 Margin Expansion Keeps Analysts Bullish
Amber Enterprises Share Price Jumps Nearly 10% After Solid Q2 Result
India's largest food delivery and quick commerce player, Zomato, posted a profit after tax of Rs 176 crore in its second quarter report card, led by other income of Rs 221 crore. A closer look shows that Zomato earned nearly Rs 400 crore from net gains from mutual funds, interest income from government securities, interest on debentures or bonds, and interest from bank deposits.
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The government is intensifying its scrutiny of expiry date violations, as it prepares to crack down on fast-moving consumer goods companies. This comes following a surge in consumer complaints over not displaying mandatory disclosures, including expiry dates, on products sold through their e-commerce websites, according to people aware of the matter.
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Dodla Dairy reported a 45% year-on-year increase in its consolidated net profit for the quarter ended September to Rs 63 crore and 30% increase in revenue to Rs 998 crore. Ebitda grew 37% on the year to Rs 96 crore and Ebitda margin was at Rs 9.6% compared to 9.1% in the same quarter year ago.
Board has declared first interim dividend of Rs 3 per share.
Max Financial Share Price Hits Life High As New Business Exhibits Strong Growth
Zomato Share Price Tumbles After Q2 Profit Misses Estimate
Bajaj Finance Share Price Gains After Q2 Profit, NII Growth
At pre-open, Nifty 50 was at 24378.15, down 0.38% or 93.95 points and Sensex was at 79920.83, down 0.37% or 299.89 points.
The yield on the 10-year bond opened flat at 6.82%.
It closed at 6.82% on Tuesday.
Source: Bloomberg
Rupee opened flat at 84.08 against the US dollar.
It closed at 84.07 on Tuesday.
Source: Bloomberg
Citi Research has maintained 'buy' on Indus Towers and assigned a target price of Rs 500, implying upside of 35%. It said that 2Q Ebitda was ahead of its estimates primarily driven by a further increase in recovery of past dues from Voda Idea. The company has now cumulatively recovered Rs23bn of its past dues from Voda Idea and should therefore be able to comfortably recover its balance dues over the next 3-4 quarters.
According to the brokerage, the recent stock correction has made risk/reward more attractive and significant improvement in visibility of Indus is now being able to entirely recover its past dues.
Nuvama has retained 'buy' but raised target to Rs 325 from Rs 285 earlier implying upside of 27%. The brokerage expects Blinkit dark store addition to be faster than initially expected and that profitability would be delayed due to higher upfront cost.
Morgan Stanley has retained 'overweight' on Bajaj Finance with target Rs 9,000, implying 35% upside as the brokerage said PAT was better than estimates and credit cost guidance change not a material negative. It also noted that funding and credit costs have peaked and new normal credit costs at 185-195 bps.
Maintain Outperform with a target price Rs 600, which implied a 12% downside
Paytm to onboard new UPI users on its app
Very positive development
Development allows platform to stem decline in monthly transacting users
Could boost investor expectations of favorable outcomes on other regulatory decisions
December futures contract of WTI Crude were trading 2.17% higher at $72.09 a barrel as of 7:37 a.m. after the recent selloff as traders see a supply disruption in the Middle East due to Israel-Iran tensions as unlikely.
December contract of Brent Crude, however, was 0.37% lower at $75.76.
Asian Stocks Drift Amid 1995-Like Plunging US Treasuries
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Trade Setup For Oct. 23: Nifty 50 Support At 24,200 Amid Increasing Bearish Sentiment