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At 3:30 p.m., Dow Jones futures contract was 0.6% higher at 42,547.0, that of S&P 500 was up 0.7% at 5,883.75, and Nasdaq 100 was 0.9% up at 5,883.75.
UK: Confederation of British Industry Realised Sales — 4:30 p.m. IST
China: The Conference Board Leading Index — 6:30 p.m. IST
Market breadth was skewed in the favour of buyers. As many as 2,593 stocks rose, 1,401 fell, and 159 remained unchanged on the BSE.
The NSE Nifty 50 and BSE Sensex posted the best intraday gains since September 20
The Nifty 50 and Sensex snapped a five–day losing streak.
ICICI Bank Ltd. and Mahindra & Mahindra Ltd. were the top gainer in the Nifty 50 index.
HDFC Bank and Axis Bank shares were top loser in the NSE Nifty 50 index.
The NSE Nifty PSU Bank was the top performing sectoral index. It ended 3.78% higher at 6,521.30.
The NSE Nifty Energy was the worst performing sectoral index. It ended 0.15% higher at 39,123.50.
The NSE Nifty Midcap 150 settled 0.64% higher at 20,695.55.
The NSE Nifty Smallcap 250 ended 1.15% higher at 17,151.60.
Revenue up 12% at Rs 184 crore versus Rs 163 crore
Ebitda down 12% at Rs 33 crore versus Rs 38 crore
Ebitda margin at 18.1% vs 23.1%
Net profit down 11% at Rs 31 crore versus Rs 35 crore
The Euro and Pound Sterling rose against the greenback on Monday as the dollar index retreated from fresh two–and–half–month high. The dollar index, which measures the strength of the greenback against six major currencies, was trading flat at 104.26 as of 2:46 p.m. IST.
The Euro and Pound Sterling were trading 0.16% and 0.05% higher, respectively.
Revenue rose 9.01% at Rs 13,291.4 crore vs Rs 12,192.4 crore
Ebitda rose 32.2% at Rs 3,939 crore vs Rs 2,979.4 crore
Ebitda margin at 29.63% vs 24.43%
Net profit rose 27.94% at Rs 3,040 crore vs Rs 2,376 crore
Net Profit at Rs 106 crore vs loss of Rs 63 crore
Revenue rose 28.5% to Rs 6,584 crore vs Rs 5,125 crore
Ebitda at Rs 275 crore vs Ebitda loss of Rs 154 crore
Ebitda Margin at 4.2%
Srividya Srinivasan will replace Gautam Kamath as chief financial officer of Gillette India effective Nov 1, it said in an exchange filing.
Net Profit rose 29.1% to Rs 67.4 crore compared to Rs 52.2 crore
Revenue rose 6.6% to Rs 492 crore compared to Rs 461 crore
Ebitda rose 21.8% to Rs 91.9 crore vs Rs 75.4 crore
Margin At 18.7% Vs 16.3%
NBCC stock rose as much as 6.36% during the day to Rs 93.5 apiece on the NSE. It was trading 4.3% higher at Rs 91.6 apiece, compared to a 0.99% advance in the benchmark Nifty 50 as of 1:01 p.m.
The stock has risen 104% during the last 12 months and advanced 68% so far this year. The total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 26, implying its oversold.
Out of four analysts tracking the company, one maintains a 'buy' rating, one recommends a 'hold,' and two suggest a 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 44%.
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Indian Stocks Headed For Worst Month Since March 2020 Amid Record Exit By Global Funds
NBCC Ltd. received multiple redevelopment work orders in Goa worth Rs 1,726 crore, it said in an exchange filing.
For more updates on latest earning release click here.
Cyient Ltd. acquired 27.3% stake in Azimuth artificial intelligence. The company is to build ASIC chips and strengthen semiconductor capabilities, it said in an exchange filing.
Danish Power Ltd., a transformer manufacturer, is set to list on the NSE SME platform on Oct. 29. Ahead of the much-awaited listing, the grey market premium on the initial public offer stood at Rs 246 as of 9 a.m. on Oct. 28, indicating a strong premium. To read the full story click here.
Bandhan Bank Share Price Gains After Q2 Profit Jumps 30%, Meets Estimates
Waaree Energies Shares List At 69% Premium Over Issue Price
Coal India Share Price Slips Over 5% After Weak Quarterly Earnings
IndiGo Share Price Hits Lowest In Six Months As Analysts Cut Target After Q2 Loss
Market breadth was skewed in favour of buyers. Around 1,896 stocks advanced, 1,103 stocks declined, and 145 stocks remained unchanged on BSE.
At pre–open, the NSE Nifty 50 was trading 0.29% higher at 24,251.10, and the BSE Sensex was trading 0.33% higher at 79,653.67.
The yield on the 10-year bond opened flat at 6.86%. It closed at 6.85% on Friday, according to data on Bloomberg.
Rupee Closes Flat Against US Dollar Amid Strong FII Outflows
Initiate Buy rating with a target price Rs 20,070, which implied a 70% upside
At cusp to unveil world’s largest single-site Ti recycling plant
Firm demand potential in India and global shortage of Ti to lead to speedy rampup
Believes tie-ups with foreign OEMs for Ti-cast products to be game changer
PAT could grow at CAGR of 72% (FY24–32E) with capacity ramp-up
Expect to gain from significant tailwinds in commercial aerospace
Key risks: Dependence on exports, Delay in commissioning of new capacity
Revenue rose 55.4% at Rs 322 crore vs Rs 207 crore
Ebitda rose 54.4% at Rs 200 crore vs Rs 129 crore
Margin down 40 basis points at 62% vs 62.4%
Net profit rose 48.6% at Rs 162 crore vs Rs 109 crore
Maintain outperform with a target price Rs 240, which implied a 42% upside
Asset quality fared better than feared
Operating profit slight miss
Credit costs lower than expected leading to 24% PAT beat
Secured business to drive growth
Bandhank Bank Ltd.'s standalone net profit rose 30% in second quarter, it said Friday. The earning numbers meet analysts' expectations. The share price may react in Monday's trading session.
To know more about Bandhan Bank's second quarter numbers, click here.
The Japanese yen fell to over near three–month low against the US dollar after the country's ruling coalition failed gain majority in the parliament over the weekend.
The Japanese yen rose 1.03% to 153.88 a dollar so far in the day. It was trading 0.87% down at 153.63 a dollar as of 08:12 a.m.
The dollar index, which measures the greenback's strength against major six currencies, continued to hover around two and a half month high. This pressured the Asian currencies.
The dollar index was trading 0.22% higher at 104.47 as of 8:04 a.m. IST.
Most currencies fell against the greenback. The Indonesian rupiah and Malaysian ringgit were trading 0.47% and 0.41% down, respectively.
Bucking the trend, the South Korean won was trading 0.40% higher against the US unit.
Oil future prices slumped over 5% in early trade on Monday as tension over supply from Middle–East eased temporary after Israel's retaliatory attack bypassed Tehran's oil facilities, Reuters reported.
The December future contract of brent crude was trading 4.29% down at $72.79 a barrel as of 08:02 a.m. IST
Reiterate BUY with a TP of Rs 4,000 (+29%)
Execution better than vehicle finance peers; earnings in line
AUM up 20% YoY; gold and personal loans likely to pick up in 2HFY25
Asset quality continues to improve with higher PCR on standard loans
Value at 2.2x FY26E PBV
Maintain buy with reduced price target of Rs 5,100 (17% upside potential)
Loss driven by higher cost of groundings, related capacity mitigating measures
Story remains intact with capacity ramp-up amid constraints for most peers
Aircrafts on ground peaked, should drive cost normalization ahead
Cut FY25/26/27 EPS estimates by 12%/2%/2% on Q2 miss
Gold prices eased in Asian trade hours reversing its gain from Friday. It rose on Friday as middle–east tension increased and uncertainty heightened regarding US elections.
The Gold December Futures were trading 0.51% down at $2,740.00 an ounce as of 7:16 a.m. IST
Japan Stocks Rebound Even As Ruling Party Loses Majority, Yen Drops: Asia Markets Wrap
Share indices on Wall Street ended on a mixed note. The Dow Jones Industrial Average S&P 500 ended 0.61% and 0.03% down, respectively. The Nasdaq Composite ended 0.56% higher at 18,518.61.
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