Stocks To Watch: Tata Power, Jio Financial, Lupin, Varun Beverages, ICICI Securities, KEC International
Here are the stocks to watch before going into trade today.
Asian markets opened higher amid diplomatic efforts to prevent the Israel-Hamas war from expanding into a regional conflict.
Shares in Australia and South Korea advanced on Tuesday while Japanese markets also rose. Contracts for U.S. equities were little changed in early Asian trading.
The S&P 500 added 1.1% on Monday, with traders also gearing up for a raft of earnings reports.
Meanwhile, the yield on the 10-year U.S. bond was trading at 4.71% and Bitcoin was above 28,000-level. Brent crude was trading below $90 a barrel, whereas WTI Crude was below $87-mark.
At 5:55 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was up 95 points or 0.48% at 19,830.
India's benchmark stock indices swung between gains and losses through Monday to extend the decline for the third straight day. Metals, PSU banks and consumer durables rose, whereas the pharma and realty sectors were under pressure.
Overseas investors became net sellers of Indian equities on Monday. Foreign portfolio investors offloaded stocks worth Rs 593.7 crore, and domestic institutional investors turned net buyers and mopped up equities worth Rs 1,184.2 crore, the NSE data showed.
The Indian rupee recorded its lowest ever close of 83.28 against the US dollar on Monday.
Stocks To Watch
Grasim Industries: The board approved fund raise of Rs 4,000 crore via rights issue to fund capex and repay debt.
Gujarat Mineral Development Corporation: GMDC presented Rs 269.44 crore dividend cheque to Gujarat government, which holds 74% share in the company.
Bombay Dyeing: The company has received the consideration of about Rs 4,675 crore towards Phase-I located at Worli, Mumbai after signing a conveyance deed with subsidiary of Sumitomo Realty. The proceeds realized will be used for repaying loans and the balance invested in approved securities for future developments.
Jio Financial Services: The company named AR Ganesh as group Chief Technology Officer w.e.f. Oct. 16.
Mphasis: Ayaskant Sarangi is the new Chief Human Resource Officer (CHRO) as of Oct. 16. Srikanth Karra will remain in the Chief Administrative Officer role (CAO) to assist with the transition and superannuate from the company on April 29, 2024.
NLC India: The company incorporated a new wholly owned subsidiary 'NLC India Green Energy' (NIGEL) which currently undertakes projects of 2 GW of renewable energy.
Data Patterns: The company announced a licensing and Transfer of Technology (ToT) agreement with IN-SPACe, an autonomous agency in the Department of Space. This agreement will provide Data Patterns with miniature SAR Radar capability.
Uttam Sugar Mills: The Board redeemed 1,38,850 - 6.50% and 1,80,575 - 10% non cumulative redeemable preferences shares carrying.
Electronics Mart India: The company has commenced the commercial operation of a new multi brand store under the brand name ‘BAJAJ ELECTRONICS’ on Oct. 15 in Andhra Pradesh.
JK Paper: The Board approved acquisition of Manipal Utility Packaging Solutions Pvt. (MUPSPL), which is engaged in the business of manufacturing packaging products and with a revenue of Rs 147.77 crore in FY23.
ICICI Securities: The board approved payment of interim dividend of Rs 12 per equity share of face value of Rs 5 each. The record date is set for Oct. 27, 2023.
Varun Beverages: The board approved acquisition of 5.03% of paid-up capital of manufacturing subsidiary for Rs 10 crore, Lunarmech Technologies. Post acquisition, Varun Beverages will hold 60.07% stake in the company. The transaction is complete with immediate effect. It also approved investment of Rs 1.92 crore for 9.80% stake in Isharays Energy Two, a special purpose vehicle by Sunsource Energy to supply solar power in Uttar Pradesh.
Piramal Pharma: The company announced the launch of high-throughput screening facility that augments the existing in-vitro biology capabilities at its drug discovery services site in Ahmedabad, India.
KEC International: The company bagged new orders worth Rs 1,315 crores in it’s transmission and distribution and cables business.
Coal India: The company expects to exceed demand projection of 610 MT supply to country’s power plant for FY24 after supplies to thermal power plants shot up close to 6% to 23.5 million tonnes (MTs) during the first fortnight of October 2023.
Lemon Tree Hotels: The company signed agreement for 55 rooms property in Dehradun, Uttarakhand under the brand “Keys Prime by Lemon Tree Hotels” and is expected to be operational by FY 2027.
Lupin: The company signed a Business Transfer Agreement with unit to carve out two API manufacturing sites.
Tata Power: The company signed a power distribution agreement with Endurance Technologies for setting up 12.5 MW solar plant.
Som Distilleries: The breweries will manufacture Indian-made foreign liquor in Jammu and Kashmir.
Voltas: The company will consider debentures issue at Oct.19 board meeting.
Earnings Post Market Hours
HDFC Bank Q2FY24 (Standalone, YoY)
Net Profit up 51% at Rs 15976.11 crore vs Rs 10605.78 crore
Net Interest Income up 30% at Rs 27385.2 crore vs Rs 21021.2 crore
Gross NPA at 1.34% vs 1.17% (QoQ)
Net NPA at 0.35% vs 0.30% (QoQ)
Alert: Quarterly numbers are not comparable as HDFC-HDFC Bank merger took place on July 1, 2023.
Cyient DLM (YoY)
Revenue up 71.51% at Rs 291.83 crore vs Rs 170.15 crore
Ebitda down 0.51% at Rs 23.53 crore vs Rs 23.65 crore
Margin at 8.06% vs 13.89%
Net profit up 106.33% at Rs 14.65 crore vs Rs 7.1 crore
ICICI Securities (Standalone, YoY)
Revenue up 44.39% at Rs 1248.51 crore vs Rs 864.62 crore
Net profit up 41.53% at Rs 423.83 crore vs Rs 299.45 crore
Jio Financial Services (Consolidated, QoQ)
Revenue up 46.82% at Rs 608.04 crore vs Rs 414.13 crore
Net profit up 101.3% at Rs 668.18 crore vs Rs 331.92 crore
Ceat (Consolidated, YoY)
Revenue up 5.48% at Rs 3053.32 crore vs Rs 2894.48 crore
Ebitda up 124.53% at Rs 456.12 crore vs Rs 203.14 crore
Margin at 14.93% vs 7.01%
Net profit up 3125.46% at Rs 207.72 crore vs Rs 6.44 crore
Earnings In Focus
Bajaj Finance, ICICI Prudential Life Insurance, L&T Technology Services, Tata Elxsi, Syngene International, CIE Automotive India, Happiest Minds Technologies, Zensar Technologies, Himadri Speciality Chemical, Can Fin Homes, PCBL, Newgen Software Technologies, TCI Express, VST Industries, Hathway Cable & Datacom, Tata Metaliks, IIFL Securities, Huhtamaki India.
Bulk Deals
Easy Trip Planners: SG Machine Industries bought 1 crore shares (0.58%) for Rs 41.72 apiece. Saumik Ketan Doshi sold 96.7 lakh shares (0.56%) for Rs 41.60.
Delta Corp: Bofa Securities Europe SA sold 30 lakh shares (1.12%) for Rs 127.97 apiece. Societe Generale sold 13.58 lakh shares (0.51%) for Rs 128.48 apiece.
Pledge Share Details
Som Distilleries & Breweries: Promoter Jagdish Kumar Arora and Deepak Arora created pledge of 35 000 and 10,000 respectively on Oct. 16.
Who’s Meeting Whom
JSW Energy: To meet analysts and investors on Oct. 20.
PVR Inox: To meet analysts and investors on Oct. 19.
Indoco Remedies: To meet analysts and investors on Oct. 19.
Kajaria Ceramics: To meet analysts and investors on Oct. 20.
Titagarh Rail Systems: To meet analysts and investors on Oct. 19.
Torrent Pharma: To meet analysts and investors on Oct. 23.
Century Textiles & Industries: To meet analysts and investors on Oct. 20.
Godrej Properties: To meet analysts and investors on Nov. 2.
TeamLease Services: To meet analysts and investors on Nov. 8.
Aarti Drugs: To meet analysts and investors on Oct. 20.
Rossari Biotech: To meet analysts and investors on Oct. 23.
Yes Bank: To meet analysts and investors on Oct. 23.
Anand Rathi Wealth Management: To meet analysts and investors on Oct. 20 and Oct. 21.
Aditya Birla Sun Life AMC: To meet analysts and investors on Oct. 27.
Glenmark Life Sciences: To meet analysts and investors on Oct. 20.
Astral: To meet analysts and investors on Oct. 19.
Coforge: To meet analysts and investors on Oct. 19.
Dr. Reddy’s Laboratories: To meet analysts and investors on Oct. 27.
Balkrishna Industries: To meet analysts and investors on Oct. 23.
Trading Tweaks
Price band revised from 20% to 10%: MMTC.
Ex-Date Divided: Glenmark Life Sciences.
Ex-Date Bonus Issue: Gensol Engineering, Kama Holdings.
Record-Date Dividend: Glenmark Life Sciences.
Record Date bonus Issue: Gensol Engineering, Kama Holdings
Move out of short term ASM framework: 3P Land Holdings.
F&O Cues
Nifty October futures fell 0.05% at 19,732.85, at a premium of 1.01 points
Nifty October futures open interest rose 0.02% by 36 shares
Nifty Bank October futures fell 0.08% to 44,375.85, at a premium of 131.95 points
Nifty Bank October futures open interest fell 2.28% by 3,508 shares
Nifty Bank Options Oct 18 Expiry: Maximum call open interest at 45,000 and Maximum put open interest at 44,000.
Nifty Options Oct 19 Expiry: Maximum call open interest at 19,800 and Maximum put open interest at 19,700.
Securities in the ban period: Balrampur Chini Mills, Bharat Heavy Electricals, Delta Corp, Gujarat Narmada Valley Fertilizers & Chemicals, Hindustan Copper, India Cements, Mannapuram Finance, MCX, Punjab National Bank, Steel Authority of India, Sun TV.
