Stock Market Today Live: Sensex Gains 1,350 Points, Nifty 50 Near 24,350; IndiGo Rallies 6%, Asian Paints 5%

• Kirloskar Oil Engines reported a 19% year-on-year decline in net profit to Rs 131.5 crore in Q2, compared with Rs 162.5 crore in the year-ago period.
• Revenue grew 17% to Rs 2,284 crore from Rs 1,951 crore. 
• EBITDA declined 11.7% to Rs 338 crore from Rs 382 crore, while EBITDA margin contracted to 14.8% from 19.6%.
   

Aurobindo Pharma reported its highest-ever quarterly revenue of Rs 10,263 crore in Q2. The company expects double-digit revenue growth in FY27 and is targeting an EBITDA margin of 21% for the year, with its long-term margin expectation at 22%.

The company spent $89 million on capex in Q2 and had cash reserves of $189 million. It launched 10 new products in the US during the quarter and has completed the acquisition of Lannett, which is expected to strengthen its presence in the US market.

Management said US growth will be supported by the successful integration of Lannett. Going ahead, the company will focus on monetising its US business and sustaining profitability through an improved product mix.

• IRCON International reported a 25.9% year-on-year decline in net profit to Rs 103 crore in Q2, compared with Rs 139 crore in the year-ago period.
• Revenue grew 14.9% to Rs 2,272 crore from Rs 1,977 crore.
• EBITDA increased 68.3% to Rs 239 crore from Rs 142 crore, while EBITDA margin improved to 10.5% from 7.2%.
   

The Indian rupee appreciated over 30 paise in opening trade, gaining 0.34% to trade at 94.33 against the US dollar.

Orkla India reported an 18.7% year-on-year increase in net profit to Rs 91.4 crore in Q2, compared with Rs 77 crore in the year-ago period.

Revenue grew 19.4% to Rs 776 crore from Rs 650 crore.

EBITDA increased 17.6% to Rs 125.2 crore from Rs 106.5 crore, while EBITDA margin stood at 16.1% against 16.4% a year ago.
 

• Pricol reported a 32.8% year-on-year increase in net profit to Rs 85 crore in Q2, compared with Rs 64 crore in the year-ago period.
• Revenue grew 34.7% to Rs 1,356 crore from Rs 1,007 crore.
• EBITDA increased 29.7% to Rs 153 crore from Rs 118 crore, while EBITDA margin stood at 11.3% against 11.7% a year ago.
   

Binance said it will reopen withdrawals for more assets from 04:00 UTC on November 5.
 

China has blocked SoftBank’s proposed takeover of ABB’s robotics unit, the Financial Times reported

• David Roche told NDTV Profit that inflation is expected to moderate going forward, but markets remain surrounded by multiple risks.
• He cautioned that markets could get ahead of themselves.
• Roche said US President Donald Trump would use his veto and seek support from Democrats.
• He added that Trump could have pushed the world into immense economic pain, while investors now believe the Iran war will end soon.

Coinbase said it has not been impacted by the reported incident involving Binance. The cryptocurrency exchange added that customer funds remain unaffected.
 

UBS has cut around 200 jobs in London, including positions in its investment banking division, according to reports.

House Democratic Leader Hakeem Jeffries said Democrats would introduce a bill to stop President Donald Trump's tariffs and end the Iran war. He also called for reversing Medicaid cuts and extending Affordable Care Act tax credits.

Jeffries said Katherine Clark would be the next House Majority Leader and predicted that Democrats would win at least 255 seats in the House.

• Navneet Education reported a net loss of Rs 4 crore in Q2, compared with a net profit of Rs 141 crore in the year-ago period.
• Revenue declined 58.9% year-on-year to Rs 324 crore from Rs 788 crore.
• EBITDA fell 94.4% to Rs 11 crore from Rs 198 crore, while EBITDA margin contracted to 3.4% from 25.1%.
   

Dr Lal PathLabs reported broad-based growth in patient and sample volumes, with patient volumes increasing 9% year-on-year to 9 million and sample volumes rising 13.6% to 28.8 million. Revenue per patient improved to Rs 976 from Rs 889 a year ago, supported by a better test mix and pricing benefits.

The company attributed margin improvement to operating leverage from higher volumes, a better test mix and ongoing cost optimisation initiatives. Management expects long-term volume growth of 6-7% and realisation growth of another 6-7%, while continuing to target sustainable mid-teen organic revenue growth.

For FY27, management now expects high-teen revenue growth, with the first half running ahead of plan. EBITDA margin is expected to be slightly higher than FY26.

Acquisitions And Expansion

Dr Lal PathLabs completed the acquisition of SN Gene Lab in August. The business contributes around Rs 60 crore in revenue and Rs 15 crore in EBITDA, and adds genomics capabilities and in-house research and development. Q2 results include only a partial contribution from the acquisition.

South India contributes around 6% of revenue. The company is evaluating acquisition opportunities in the region while continuing organic expansion in large urban clusters.

The company has also completed its acquisition in Ghana and incorporated a joint venture in Uzbekistan, where operations are expected to start soon. International business currently contributes less than 5% of revenue and is expected to remain below that level over the next two to three years. Management is targeting meaningful scale over a period of more than five years.

Pricing Strategy

The company has not implemented any major price hikes in nearly four years, with its strategy focused on gaining market share from unorganised players. Future price increases remain possible if inflation rises or industry pricing moves higher, although management expects any long-term price hikes to remain below inflation.

• Apple has reduced internal AI usage budgets as it looks to rein in spending, according to reports.
• The company lowered the daily AI usage cap for some engineers to $200 from $300 and is planning further cuts to employees' AI usage limits.
   

• Lenskart reported a 35.7% year-on-year increase in revenue to Rs 2,845 crore in Q2, compared with Rs 2,096 crore in the year-ago period.
• EBITDA grew 50% to Rs 621.8 crore from Rs 414.6 crore, while EBITDA margin improved to 21.9% from 19.8%.
• Net profit stood at Rs 227 crore against Rs 102 crore a year ago.
   

• Qualcomm reported Q4 adjusted revenue of $10.44 billion, ahead of the estimated $10.12 billion. Adjusted earnings per share stood at $2.17, compared with estimates of $2.16.
• For Q1, the company expects adjusted revenue of $10.4 billion to $11.2 billion, against estimates of $10.55 billion. Adjusted EPS is projected at $2.15 to $2.35, compared with estimates of $2.32.
• Qualcomm reported full-year capital expenditure of $2.49 billion, above the estimate of $1.86 billion.

Google expanded its voluntary buyout programme to employees in five countries in June, Reuters reported in an exclusive report.

The programme appears to exclude key artificial intelligence and cloud businesses, including DeepMind. The move comes as parent Alphabet seeks to manage costs amid heavy investment in AI.

Coca-Cola Consolidated reported Q3 net sales of $1.99 billion, up 5.4% year-on-year. Income from operations increased 10% to $271.6 million, while earnings per share stood at $2.64.

The company continues to expect full-year capital expenditure of around $300 million.

OpenAI has launched Images 2.6, making the new image-generation model available across ChatGPT, Codex and its API.

• The Bank of Japan (BOJ) released the minutes of its September policy meeting. One member said the central bank may need to quicken the pace of rate hikes if prices deviate from its target.
• A member also said there has been a shift in the phase of monetary policy and that the BOJ should continue to act in a timely manner.
• Several members said it was difficult to identify the neutral interest rate, while one said it would be desirable to bring the policy rate closer to the goal soon.

US President Donald Trump said he could work with Democrats on what he described as “financial ideas”, adding that such proposals would be “mutually good”, CNBC reported.

Narayana Hrudayalaya said the Bengaluru Bench of the National Company Law Tribunal (NCLT) has approved the merger of its subsidiary, NH Integrated Care, with the company, according to an exchange filing.

Tenneco Clean Air India reported a 15% year-on-year increase in consolidated net profit to Rs 173 crore in Q2, compared with Rs 150 crore in the year-ago period.

Revenue grew 34.2% to Rs 1,718 crore from Rs 1,281 crore. EBITDA increased 20.66% to Rs 262 crore from Rs 217 crore, while EBITDA margin contracted to 15.2% from 16.9%.

• Brigade Enterprises has entered into an agreement with the International Finance Corporation (IFC) to invest in eligible middle-income housing projects.
• The company's arm, Venusta Ventures, has proposed to issue non-convertible debentures (NCDs) to IFC, according to an exchange filing.

• BSE reported a 7.4% quarter-on-quarter decline in net profit to Rs 809 crore in Q2, compared with Rs 874 crore in the previous quarter.
• Revenue declined 8.5% to Rs 1,433 crore from Rs 1,566 crore. 
• EBITDA fell 8.2% to Rs 984 crore from Rs 1,072 crore, while EBITDA margin stood at 68.7% against 68.5% in the previous quarter.
   

• Tenneco Clean Air India has appointed Arvind Gautam as Managing Director of its arm, Tenneco Automotive India, with effect from November 5.
• R C Subramaniam has resigned as Managing Director of the arm, effective November 4, according to an exchange filing.

• Cummins India reported an 18.5% year-on-year decline in consolidated net profit to Rs 507 crore in Q2, compared with Rs 622 crore in the year-ago period.
• Revenue grew 4.1% to Rs 3,301 crore from Rs 3,170 crore.
• EBITDA declined 27.1% to Rs 506 crore from Rs 695 crore, while EBITDA margin contracted to 15.3% from 21.9%.

• JK Lakshmi Cement reported a 74.6% year-on-year decline in net profit to Rs 20.55 crore in Q2, compared with Rs 80.9 crore in the year-ago period.
• Revenue grew 5.5% to Rs 1,617 crore from Rs 1,532 crore.
• EBITDA declined 26.1% to Rs 154 crore from Rs 209 crore, while EBITDA margin contracted to 9.5% from 13.6%.
   

• Apollo Tyres reported a 13.3% year-on-year increase in net profit to Rs 292.2 crore in Q2, compared with Rs 258 crore in the year-ago period.
• Revenue grew 16.6% to Rs 7,968 crore from Rs 6,831 crore. 
• EBITDA declined 16.2% to Rs 855 crore from Rs 1,021 crore, while EBITDA margin contracted to 10.7% from 14.9%.
   

• Nykaa reported revenue growth of 28.1% year-on-year to Rs 3,006 crore in Q2, compared with Rs 2,346 crore in the year-ago period.
• EBITDA increased 65.6% to Rs 263 crore from Rs 159 crore, while EBITDA margin improved to 8.7% from 6.8%. 
• Net profit stood at Rs 101 crore against Rs 34 crore a year ago.
   

• Dabur reported an 11.7% year-on-year increase in net profit to Rs 506 crore in Q2, compared with Rs 453 crore in the year-ago period. The figure was above the estimated Rs 498 crore.
• Revenue grew 11.7% to Rs 3,563 crore from Rs 3,191 crore, against estimates of Rs 3,553 crore. EBITDA increased 7.7% to Rs 633 crore from Rs 588 crore, below the estimated Rs 640 crore.
• EBITDA margin stood at 17.8% against estimates of 18%, compared with 18.4% a year ago.
• The company will pay an interim dividend of Rs 3.5 per share.
   

• Apollo Hospitals reported a 32.1% year-on-year increase in net profit to Rs 630 crore in Q2, compared with Rs 477 crore in the year-ago period. Profit was slightly above the estimated Rs 627 crore.
• Revenue grew 23% to Rs 7,615 crore from Rs 6,189 crore, beating estimates of Rs 7,471 crore.
• EBITDA increased 28.8% to Rs 1,191 crore from Rs 925 crore, against estimates of Rs 1,162 crore.
• EBITDA margin improved to 15.6% from 14.9%, in line with estimates.
   

• Brokerages remain constructive on Endurance Technologies' medium-term growth prospects, with Axis Capital upgrading the stock to Add from Reduce. Kotak Institutional Equities maintained Add, while Goldman Sachs retained its Neutral rating.
• Axis Capital raised its target price to Rs 2,750 from Rs 2,700, citing strong medium-term business prospects. It said the company's India business continues to secure new orders across product segments. Execution of orders in the four-wheeler and non-automotive segments could help it outperform industry growth over the next three years.
• Kotak maintained Add but cut its target price to Rs 2,825 from Rs 3,000. It highlighted stricter safety regulations and expansion into four-wheelers and EV components as drivers of multi-year growth. The company's 2.0 strategy also targets aerospace, defence and other non-automotive opportunities. However, commodity pressures may delay margin recovery.
• Goldman Sachs maintained Neutral and lowered its target price to Rs 2,650 from Rs 3,090. It expects meaningful margin recovery in FY28 as greenfield expansion start-up costs moderate. However, higher depreciation, financing costs and raw-material pressures have prompted it to cut FY27-FY29 earnings estimates.

 

Britannia Industries is expected to report a 12% year-on-year increase in consolidated revenue to Rs 5,443 crore in Q2FY27, compared with Rs 4,841 crore in the year-ago period. Net profit is estimated to rise 10% to Rs 720 crore from Rs 654 crore.

EBITDA may increase 6% to Rs 1,018 crore from Rs 954 crore, while EBITDA margin is expected to contract to 18.7% from 19.7%.

What to expect: Volumes are expected to grow 8-10%, while pricing growth may be around 5%. Gross margins are likely to remain flat, with the premium category expected to outperform.

Key things to watch: Margin protection and volume growth despite price hikes.

Oil prices continued to decline on Thursday, with Brent crude hovering below the $95-per-barrel mark after plunging nearly 9% in the previous session to hit a two-month low.

Growing hopes of a possible de-escalation in the US-Iran conflict, following the Democratic Party's strong performance in the US midterm elections, have eased concerns over global oil supplies.

Asian markets traded mixed on Thursday. Japan's Nikkei 225 fell 0.2% after rising in early trade, while South Korea's Kospi declined 2.95%.

Meanwhile, Australia's ASX 200 and New Zealand's NZX 50 advanced 1.94% and 1.99%, respectively.

US indices ended firmly in the green on Wednesday. The Dow Jones Industrial Average surged 3.03%, gaining 1,569 points to hit a two-month high. The S&P 500 and Nasdaq Composite advanced 1.58% and 1.44%, respectively.

Consumer discretionary, financial and real estate stocks led the gains on Wall Street, while energy and industrial shares lagged.

Welcome to the live coverage of the Indian stock market. Track all the key developments on Dalal Street today, including Sensex and Nifty movements, sectoral trends, top gainers and losers, FII-DII activity, and the latest corporate and Q2 earnings updates.