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Stock Market Recap
The Indian stock market benchmark equity indices ended lower on Wednesday, weighed down by selling in pharma and financial stocks.
The Sensex declined 251.89 points, or 0.34%, to close at 72,781.89, while the Nifty 50 settled 99.25 points, or 0.44%, lower at 22,622.70. The Bank Nifty index ended at 55,316.00, down by 165.05 points, or 0.30%.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
US Market Recap
Wall Street opened mixed on Wednesday, October 14 US consumer prices rose the most since April, raising bond yields and worries that the Federal Reserve will need to raise interest rates to deal with inflation.
Nasdaq Composite dropped 0.65% to 27,027.44, S&P 500 declined 0.38% to 7,775.9 while Dow Jones Industrial Average traded 0.18% up at 51,764.26 by 7 pm IST.
ALSO READ: Trade Setup For Oct 15: Nifty Support Slips To 22,480 As Markets Remain Lackluster
Earnings
BHEL Q2 Results
- Net Profit at Rs 821 Cr vs Rs 375 Cr YoY
- Revenue up 23.8% at Rs 9,300 Cr vs Rs 7,512 Cr YoY
- EBITDA up 76.7% at Rs 1,026 Cr vs Rs 581 Cr YoY
- EBITDA Margin at 11% vs 7.7% YoY
HDB Financial Q2 Results
- Net Profit up 34.3% at Rs 780 Cr vs Rs 581 Cr YoY
- Revenue up 10.1% at Rs 5,005 Cr vs Rs 4,545 Cr YoY
- To Pay Interim Dividend of Rs 2/Share
Tata Technologies Q2 Consolidated Results
- Net Profit down 5.19% at Rs 171 Cr vs Rs 181 Cr QoQ
- Revenue up 2% at Rs 1,699 Cr vs Rs 1,665 Cr QoQ
- EBIT down 1.2% at Rs 219 Cr vs Rs 222 Cr QoQ
- EBIT Margin at 12.9% vs 13.3% QoQ
Bajaj Consumer Q2 Consolidated Results
- Net Profit up 65.9% at Rs 70.2 Cr vs Rs 42.3 Cr YoY
- Revenue up 25.5% at Rs 333 Cr vs Rs 265 Cr YoY
- EBITDA up 72.1% at Rs 82.3 Cr vs Rs 47.8 Cr YoY
- EBITDA Margin at 24.7% vs 18% YoY
CEAT Q2 Consolidated Results
- Net Profit down 39.8% at Rs 112 Cr vs Rs 186 Cr YoY
- Revenue up 26.2% at Rs 4,762 Cr vs Rs 3,773 Cr YoY
- EBITDA down 9.1% at Rs 457 Cr vs Rs 503 Cr YoY
- EBITDA Margin at 9.6% vs 13.3% YoY
Emmvee Photovoltaic Q2 Consolidated Results
- Net Profit up 60.5% at Rs 382 Cr vs Rs 238 Cr YoY
- Revenue up 39.3% at Rs 1,576 Cr vs Rs 1,131 Cr YoY
- EBITDA up 39.3% at Rs 556 Cr vs Rs 399 Cr YoY
- EBITDA Margin Flat at 35.3% YoY
ICICI Lombard Q2 Results
- Net Profit up 15.4% at Rs 946 Cr vs Rs 820 Cr YoY
- Net Premium Earned up 17.7% at Rs 6,652 Cr vs Rs 5,652 Cr YoY
- To Pay Interim Dividend of Rs 7/Share
MRPL Q2 Consolidated Results
- Net Profit at Rs 1,901 Cr vs Rs 946 Cr QoQ
- Revenue down 15.1% at Rs 32,516 Cr vs Rs 38,254 Cr QoQ
- EBITDA at Rs 3,279 Cr vs Rs 1,317 Cr QoQ
- EBITDA Margin at 10.1% vs 3.4% QoQ
- One-Time Loss of Rs 119 Cr vs Gain of Rs 472 Cr QoQ
Hathway Cable Q2 Consolidated Results
- Net Profit down 44.1% at Rs 10.2 Cr vs Rs 18.3 Cr YoY
- Revenue up 5.7% at Rs 567.5 Cr vs Rs 536.7 Cr YoY
- EBITDA down 27.4% at Rs 58.7 Cr vs Rs 80.9 Cr YoY
- EBITDA Margin at 10.4% vs 15.1% YoY
Stocks In News
- Trident: Rahul Roongta Re-Joins as Group CFO.
- Shriram Finance: Denies Reports of MUFG Taking Majority Control Stake. Stake Report Based on Speculation.
- NIIT: Appoints Anish Kumar Sarkar as CEO. Pankaj Prabhakar Jathar Resigns as CEO.
- Lloyds Metals: To Raise Rs 3,000 Cr via NCDs and $130 Mn via Dollar-Denominated Notes.
- IFGL Refractories: Terminates Marvel JV Agreement After Marvel Did Not Infuse Capital. Company Retains 100% JV Stake.
- Hyundai Motor: Inaugurates Manufacturing Unit in Talegaon, Pune. To Invest Up to Rs 11,000 Cr at Pune Plant in Phases. Current Annual Production Capacity at 1.7 Lakh Units; To Expand Capacity to 3.2 Lakh Units by 2030.
- Enviro Infra: Gets EPC Order Worth Rs 228 Cr from Arie Energy for Development of 100 MW Ajani Wind Power Project. Order to Be Executed by July 2027.
- Servotech Renewable: Two Company Employees Arrested in Rs 2-2.5 Cr Fraud Probe.
- Godavari Biorefineries: Patent Application Titled '5-Hydroxy-1,4-Naphthalenedione' for Cancer Treatment Granted.
- NLC India: Arm Wins Bid for Hooghly 50 MW/200 MWh BESS Project.
- Mphasis: Income Tax Department Revises Tax Demand to Rs 2,418 Cr from Rs 2,287 Cr. Gets Rectification Order from Bengaluru Tax Body.
- Morepen Laboratories: Gets Rs 118 Cr Tax Relief from Himachal High Court Against Shimla GST Body.
- Gujarat Energy: Gives Rs 324 Cr Dividend to Gujarat Government for FY26, Its Highest-Ever Dividend to the State Government.
- RIL: Jio Platforms Files RHP with RoC. IPO to Open on October 21 and Close on October 23. Anchor Bidding on October 19. Price Band Set at Rs 1,065-1,119/Share, with Floor Price at Rs 1,065/Share. To Offer Rs 54/Share Employee Discount. Bid Lot of 12 Equity Shares; Face Value of Rs 10. Fresh Issue of 27 Cr Shares.
- Bluestone Jewellery: Board to Meet on October 22 to Consider Raising Rs 300 Cr via NCDs.
- SMC Global Securities: Allots 1 Cr Warrants to Non-Promoter Category on Preferential Basis.
- Cemindia Projects: QIP Issue Opens; Sets Rs 1,158.58/Share as Floor Price.
- Capri Global Capital: To Raise Up to Rs 4,000 Cr via Equity and Debt.
- Emmvee Photovoltaic: To Start 6-GW Solar Cells Plant by March.
- City Union Bank: Tax Demand Reduced to Rs 209 Cr.
- Blue Star: Voluntary Strike-Off of Step-Down Arm Blue Star Air Conditioning.
- Laurus Labs: Invests Rs 108 Cr in KRKA Pharma via Rights Issue.
- Hari Om Pipe: Commissions Two Solar Plants of 10 MW AC in Maharashtra.
- Dr Reddy's Laboratories: US FDA Issues 3 Observations to Visakhapatnam Unit. US FDA Concludes Inspection at Vizag Manufacturing Unit, Inspected from October 8-9.
- GNG Electronics: In Pact to Lease Land in UAE's SAIF Zone with Government of Sharjah. SAIF Stands for Sharjah Airport International Free Zone.
- IDBI Bank: Government Approves Strategic Restructuring of Bank. Fairfax's Winning Bid at Rs 81/Share. Benchmark Price Fixed at Rs 75.99/Share Based on Two Independent Valuations. Initial Bids Rejected After Failing to Meet Rs 94.42/Share Reserve Price. Government's Residual 15% Stake to Be Sold Through Open Market; LIC Can Manage Its 19% Stake Independently.
Bulk And Block Deals
- Fineotex Chemical: Mohamed Irfan Mohamed Latif Shaikh Bought 63 Lakh Shares at Rs 60.04/Share.
- Natco Pharma: Nippon India Mutual Fund Bought 2.32 Lakh Shares at Rs 27/Share; ASK Investment Managers Sold 1.03 Lakh Shares at Rs 27/Share.
Shares To Exit Anchor Lock-In
- Rentomojo: 1-Month Lock-In; 5 Million Shares; 4% of Total Outstanding.
- LCC Projects: 1-Month Lock-In; 4 Million Shares; 2% of Total Outstanding.
- Manipal Payment & Identity Solutions: 1-Month Lock-In; 5 Million Shares; 2% of Total Outstanding.
- Karamtara Engineering: 1-Month Lock-In; 5 Million Shares; 2% of Total Outstanding.
- Steamhouse India: 1-Month Lock-In; 8 Million Shares; 3% of Total Outstanding.
- Asset Reconstruction Co: 1-Month Lock-In; 8 Million Shares; 2% of Total Outstanding.
Board Meetings
- HDFC Life Insurance Company: Fund Raising.
- Indian Bank: Fund Raising.
- Tech Mahindra: Bonus.
- Fujiyama Power Systems: Fund Raising.
IPO Openings
Sahajanand Medical Technologies
The company develops, manufactures and markets technologically advanced medical devices, primarily focused on vascular intervention and structural heart intervention.
Bonfiglioli Transmissions
The company provides mechanical and electro-mechanical power transmission and industrial drive solutions.
Zetwerk Manufacturing
The company operates a technology-led global manufacturing platform that connects industrial and consumer enterprises with manufacturing partners for custom and large-scale production.
Tonbo Imaging India
The company is a defence electronics OEM engaged in designing, developing and manufacturing electro-optic, infrared (EO/IR), embedded vision, communication, guidance and surveillance systems for defence and security applications.
Earnings For Tomorrow
- Angel One
- HDFC Asset Management Company
- HDFC Life Insurance Company
- Nestle India
- Tech Mahindra
ASM Framework
- Short-Term ASM Inclusion: Shringar House of Mangalsutra.
- ASM Exclusion: GMM Pfaudler, HLE Glascoat, Shukra Pharmaceuticals.
Price Band Changes
- Shringar House of Mangalsutra: Price Band Changed from 20% to 10%.
- GSPL Transmission: Price Band Changed from 5% to 20%.
F&O Cues
- Nifty October Futures Down 0.81% at 22,650, at a Premium of 27 Points.
- Nifty Options (October 19 Expiry): Maximum Call Open Interest at 23,000; Maximum Put Open Interest at 22,000.
Securities In Ban Period
- Ambuja Cements
- Kaynes Technology
- SAIL
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