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The S&P 500 futures was trading 0.02% higher at 5,862.50, and the Nasdaq Future was 0.07% higher at 20,511.00 as of 3:32 p.m. IST. The Dow Jones Industrial Average future was 0.01% down at 42,603.00 as of 3:32 p.m. IST.
US: Goods Trade Balance
US: Prelim Wholesale Inventories m/m
US: CB Consumer Confidence
US: JOLTS Job Openings
Rupee closed flat at 84.079 against the US dollar.
It closed at 84.076 on Monday.
Source: Bloomberg
Nifty and Sensex extended recovery for a second consecutive session
Nifty ends 0.48% or 117 points up at 24456.15
Sensex ends 0.45% or 363.99 points higher at 80369.03
Intraday, Nifty fell as much as 0.8% and Sensex fell as much as 0.7%
Broader indices outperformed; Nifty Midcap 100 ended 0.9% up and Nifty Smallcap 250 closed 0.7% higher
Most sectoral indices rose. Nifty PSU Bank was top gainer and Nifty Auto fell the most
Bharat Electronics and SBI were top Nifty gainers
Tata Motors and Maruti Suzuki fell the most
Revenue up 15.7% at Rs 22,608 crore versus Rs 19,546 crore.
Ebitda up 46% at Rs 3,694 crore versus Rs 2,533 crore.
Margin at 16.3% versus 12.9%
Net profit up 383% at Rs 1,989 crore versus Rs 333 crore.
Indices in Europe were higher in the early trade amid quarterly resuluts announcements. France CAC gained the most by 0.8% followed by Germany's DAX which was 0.5% higher and UK's FTSE 100, which rose 0.4%.
Revenue up 15% at Rs 208 crore versus Rs 181 crore
Ebitda up 11% at Rs 70 crore versus Rs 63 crore
Margin at 33.4% vs 34.6%
Net profit up 22% at Rs 58 crore versus Rs 48 crore
"The Net Profit (PAT) for the quarter declined to Rs 30,692 million compared to Rs 37,165 million of Q2FY2023-24 due to a provision of INR 8,376 million resulting from the withdrawal of indexation benefit and change in tax rate on long term capital gains on debt mutual funds as per the Finance Act 2024," a filing said. "This impact was intimated earlier to the stock exchanges on 17th August 2024."
Most indices in the Asia Pacific region ended higher on Tuesday except China's CSI 300, which closed 1% lower. Japan's Nikkei was 0.8% higher at close, extending its gains after the country's election outcome, Hong Kong's Hang Seng closed 0.3% higher, South Korea's Kospi ended 0.2% up, and Australia's ASX 200 was also 0.3% higher
Maruti Suzuki Q2 Highlights (Standalone, YoY)
Revenue up 0.4% at Rs 37,203 crore versus Rs 37,062 crore. (Bloomberg estimate: Rs 37,229 crore)
Net profit down 17.4% at Rs 3,069 crore versus Rs 3,717 crore. (Bloomberg estimate: Rs 3,710 crore)
Margin at 11.9% versus 12.9% (Bloomberg estimate: 12.7%)
Swiggy's metrics for first quarter this fiscal are available for comparison with listed peer Zomato Ltd. after the quick commerce company released its final red herring prospects late on Monday. Days before it hits the primary markets on Nov. 6, Swiggy's listing has been much anticipated, and Indian investors will have a direct competitor available to Zomato.
Revenue up 6% at Rs 7,067 crore versus Rs 6,646 crore.
Net profit up 37% at Rs 2,412 crore versus Rs 1,761 crore.
Net profit up 11% at Rs 4,015 crore versus Rs 3,606 crore.
Net interest income up 5% at Rs 9,315 crore versus Rs 8,903 crore.
Afcons Infrastructure Fully Subscribed On Day 3
Senco Gold has clarified on rumours stating possible raids at company's or promoters' premises in an exchange filing. It said that the news is inaccurate as no such event has taken place.
Tata Technologies Ltd. share price was trading lower on Tuesday after Citi Research cut the target price on bleak third quarter outlook.
The New York–headquartered investment bank reduced the target price to Rs 900 from Rs 999, while it retained a 'Sell' rating on the stock. The current target price implied a 9.95% downside from Monday's closing price.
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TCS has signed a 15-year deal with Ireland's department of social protection to implement new pension system, an exchange filing by the company said.
Emkay Research said that lackluster Q2 results were not surprising and Q2 OMC earnings were dragged down by lower gross refining margins, inventory & LPG losses. The brokerage has cut FY25 EPS estimates of HPCL/IOCL by 17%/36%.
It noted that a conservative base case still yields good earnings upside for oil forms in H2FY25 and expects HPCL/BPCL/IOCL’s H2 annualized Ebitda runrate at Rs 22000/32000/53000 crore.
Key risks for the brokerage's call include adverse crude oil prices and downstream margins, govt policies, and project-related issues.
JSW Group and Korea's POSCO group has signed memorandum of understanding to develop a steel plant of 5 million tonnes per annum in India.
Federal Bank Share Price Jumps Most In Four Months As Asset Quality Remains Intact
CarTrade Technologies Ltd., the online classifieds and auto marketplace platform, is set to be the key beneficiary of slowing auto sales in the country, Nomura said while it hiked its target price.
The stock rose as much as 9.35% to a two-year high of Rs 1,074.2 per share after the company reported its second-quarter earnings. It has risen 53% during the last 12 months and has advanced by 46% on a year-to-date basis. Four out of the five analysts tracking the company have a 'buy' rating on the stock, one has a 'sell', according to Bloomberg data. The average of 12-month analyst price target
Ramco Cements will sell 1.4 crore shares held in Ramco Industries to Rajapalayam Mills & Ramco Management, an exchange filing said. It added proposed transaction will be undertaken as inter-se transfer among the company, Rajapalayam Mills & Ramco Management.
Suzlon Energy Share Price Jumps After Q2 Profit Nearly Doubles
As India celebrates Dhanteras today, demand for gold amid festivities continued to drive demand and hold prices steady. The domestic prices stood at Rs 78,750 as of 8:02 a.m., according to the India Bullions Associations. This is a slight fluctuation, but the prices stayed above Rs 78,700. The purchases during the festive season are further driving the domestic demand for gold.
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Bharti Airtel Q2 Results: Profit Falls 12%, Misses Estimates
At pre-open, Nifty was at 24328.85, down 0.04% or 10.30 points and Sensex was at 80037.19, up 0.04% or 32.15 points.
The yield on the 10-year bond opened flat at 6.86%.
It closed at 6.86% on Monday.
Source: Bloomberg
Rupee opened flat at 84.06 against the US dollar.
It closed at 84.07 on Monday.
Source: Bloomberg
Company's financial proposal declared as highest for KSK Mahanadi Power
Company keeps evaluating and participating in various opportunities across power sector
Revised resolution plan incorporating financial proposal is to be submitted by JSW Energy
Alert: Company Submitted Resolution Plan Under Corporate Insolvency Resolution Process Of KMPCL
Alert: KMPCL stands for KSK Mahanadi Power
It said that in Q2FY25, gross margins bounced from seven year low and backlog was up 40% YoY led by thermal power orders from Adani Power, DVC, NTPC. It also noted that there is risk of slower execution due projects facing land & local issues.
Citi Research has maintained a 'buy' on Sun Pharmaceuticals Industries with target price of Rs 2080; upside potential 9.4%. The brokerage said that commentary on specialty continues to remain positive and front-loading of spends shows company's confidence on launching Leqselvi in short term. The company's generic business expected to see traction with launches and earnings show resilience compared to major peers.
RailTel Q2 Results: Profit Up 7%, Revenue Jumps 41%
IPO to launch on Nov. 6 close on Nov. 8
To raise Rs 11,327.40 crore including Rs 4499 crore in fresh issue
Issue likely to be priced between Rs 371-390 per share
Swiggy valued at Rs 87299 crore or $10.38 billion at RS 390 apiece
Issue comprises of 13% equity on fully diluted basis
Source: RHP
Jefferies maintains 'buy' on BEL with target of Rs 370, implying 36% upside. It said margin strength gives confidence on profitability sustaining and annual order flow of Rs 20,000-25,000 remains sustainable over medium term. Jefferies believe exports mix to rise to 10% by FY30E vs 3-4% in FY24 and expects stock re-rating as orders and earnings come through
On Monday, they had fallen by more than 6%, WTI Crude's worst session since July 12 after Iranian energy facilities were not damaged during Israeli strikes over the weekend.
Asian Stocks Mixed As Uncertainty Peaks Ahead Of US Election And Key Data
On Monday, the NSE Nifty 50 and the BSE Sensex snapped a five-session losing streak as the share price of ICICI Bank Ltd. and Mahindra & Mahindra Ltd. led the gains. The benchmark indices recorded the best session in one month.
The Nifty 50 ended 158.35 points or 0.65% higher at 24,339.15, and the Sensex closed 602.75 points or 0.76% up at 80,005.04.
Overseas investors remained net sellers of Indian equities for the 21st consecutive session on Monday, while domestic institutional investors stayed net buyers for the 25th straight session.
The foreign portfolio investors offloaded stocks worth approximately Rs 3,228.1 crore and DIIs bought stocks worth Rs 1,400.9 crore.
The Indian currency closed flat against the US dollar at 84.0700 on Monday.
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