Stocks To Watch: Tata Motors, Infosys, Zee, ICICI Bank, HAL, Muthoot Finance, Aditya Birla Fashion
Here are the stocks to watch before going into trade today.
Shares in Asia opened lower after Jerome Powell warned interest rates may have to climb further, stunting a rally in stocks and bonds and sending investors back to the dollar.
Shares fell in Australia, South Korea and Japan, whereas equity futures for Hong Kong declined in moves that followed a drop for the S&P 500 on Thursday.
The U.S. benchmark slipped 0.8%, ending eight days of gains — it’s best run since 2021. The Nasdaq 100 fell by the same margin, and contracts for the two U.S. indexes edged lower early Friday.
Meanwhile, the yield on the 10-year U.S. bond was trading at 4.64% and Bitcoin was above 36,000-level. Brent crude was trading above $80 a barrel, whereas WTI Crude was below $76-mark.
At 5:45 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 6 points of 0.03% at 19,474.
India's benchmark stock indices swung between gains and losses to end lower on Thursday. The real estate and auto sectors advanced, whereas fast-moving consumer goods, information technology and energy shares declined.
The Sensex ended below the 64,900 level, about 200 points from the day's high, whereas the Nifty slipped below the 19,400 mark, 50 points from Thursday's high.
Overseas investors remained net sellers of Indian equities for the twelfth day in a row on Thursday. While foreign portfolio investors offloaded stocks worth Rs 1,712.3 crore, domestic institutional investors mopped up equities worth Rs 1,512.1 crore, the NSE data showed.
The Indian rupee closed flat at 83.29 against the U.S. dollar on Thursday.
Earnings Post Market Hours
Muthoot Finance Q2 FY24 (Standalone)
Total income up 22.8% at Rs 3,073.6 crore vs Rs 2,503.6 crore (YoY).
Reported profit up 14.3% at Rs 990.9 crore vs Rs 867.2 crore (YoY) (Bloomberg estimate: Rs 1,057.8 crore).
Stage 3 gross loan assets at 4.01% vs 4.26% (QoQ).
Stage 3 net loan assets at 3.59% vs 3.82% (QoQ).
Orient Cement Q2 FY24 (YoY)
Revenue up 17.1% at Rs 720.6 crore vs Rs 615.3 crore (Bloomberg estimate: Rs 707.6 crore).
Ebitda up 2.66 times at Rs 86.5 crore vs Rs 32.5 crore (Bloomberg estimate: Rs 93.9 crore).
Margin at 12.01% vs 5.29% (Bloomberg estimate: 13.30%).
Reported profit at Rs 24.6 crore vs loss of Rs 9.5 crore (Bloomberg estimate: Rs 33.12 crore).
Zee Entertainment Enterprises Q2 FY24 (Consolidated, YoY)
Revenue up 20.5% at Rs 2,437.8 crore vs Rs 2,023.9 crore (Bloomberg estimate: Rs 2,166.9 crore).
Ebitda up 5.7% at Rs 332.8 crore vs Rs 315 crore (Bloomberg estimate: Rs 251.2 crore).
Margin at 13.64% vs 15.56% (Bloomberg estimate: 11.6%).
Reported profit up 8.9% at Rs 123 crore vs Rs 112.9 crore (Bloomberg estimate: Rs 113.7 crore).
Aurobindo Pharma Q2 FY24 (Consolidated, YoY)
Revenue up 25.8% at Rs 7,219 crore vs Rs 5,739 crore (Bloomberg estimate: Rs 6,767.96 crore).
Ebitda up 73.7% at Rs 1,403 crore vs Rs 837 crore (Bloomberg estimate: Rs 1,188.8 crore).
Margin at 19.43% vs 14.58% (Bloomberg estimate: 17.6%).
Reported profit up 83.2% at Rs 752 crore vs Rs 410 crore (Bloomberg estimate: Rs 623.1 crore).
Campus Activewear Q2 FY24 (YoY)
Revenue down 22.4% at Rs 259 crore vs Rs 333 crore (Bloomberg estimate: Rs 353.3 crore).
Ebitda down 43.4% at Rs 24.6 crore vs Rs 43.5 crore (Bloomberg estimate: Rs 60.33 crore).
Margin at 9.5% vs 13.04% (Bloomberg estimate: 17.10%).
Reported profit down 97.8% at Rs 0.32 crore vs Rs 14.54 crore (Bloomberg estimate: Rs 26.4 crore).
GMM Pfaudler Q2 FY24 (Consolidated, YoY)
Revenue up 20.2% at Rs 938 crore vs Rs 780 crore.
Ebitda up 19.6% at Rs 142 crore vs Rs 119 crore.
Margin at 15.14% vs 15.21%.
Reported profit down 27.5% at Rs 70.3 crore vs Rs 96.9 crore.
Piramal Enterprises Q2 FY24 (Consolidated)
Total income up 12.7% at Rs 2,205.2 crore vs Rs 1,956.2 crore (YoY).
Reported profit at Rs 48.2 crore vs loss of Rs 1,536.4 crore (YoY) (Bloomberg estimate: Rs 236.6 crore).
Gross NPA at 2.74% vs 2.79% (QoQ).
Net NPA at 1.48% vs 1.47% (QoQ).
Star Cement Q2 FY24 (Consolidated, YoY)
Revenue down 1.4% at Rs 585 crore vs Rs 593 crore (Bloomberg estimate: Rs 592.7 crore).
Ebitda up 41.5% at Rs 98.57 crore vs Rs 69.67 crore (Bloomberg estimate: Rs 90.5 crore).
Margin at 16.84% vs 11.74% (Bloomberg estimate: 15.30%).
Reported profit up 30.9% at Rs 40.7 crore vs Rs 31.1 crore (Bloomberg estimate: Rs 49 crore).
NBCC India Q2 FY24 (Consolidated, YoY)
Revenue down 1% at Rs 2,053 crore vs Rs 2,074 crore.
Ebitda down 27.9% at Rs 95.5 crore vs Rs 133 crore (Bloomberg estimate: Rs 80.1 crore).
Margin at 4.65% vs 6.39%.
Reported profit down 16.2% at Rs 81.9 crore vs Rs 97.7 crore (Bloomberg estimate: Rs 93.2 crore).
GlaxoSmithKline Pharma Q2 FY24 (Consolidated, YoY)
Revenue up 4.4% at Rs 957 crore vs Rs 917 crore (Bloomberg estimate: Rs 912.9 crore).
Ebitda up 12.7% at Rs 289.5 crore vs Rs 257 crore (Bloomberg estimate: Rs 226.4 crore).
Margin at 30.25% vs 28.02% (Bloomberg estimate: 24.80%).
Reported profit up 12.5% at Rs 216 crore vs Rs 193 crore (Bloomberg estimate: Rs 180.2 crore).
RVNL Q2 FY24 (Consolidated, YoY)
Revenue up 0.1% at Rs 4,914 crore vs Rs 4,909 crore.
Ebitda down 5.6% at Rs 298.3 crore vs Rs 316 crore.
Margin at 6.06% vs 6.43%.
Reported profit up 3.5% at Rs 394.4 crore vs Rs 381.2 crore.
Torrent Power Q2 FY24 (Consolidated, YoY)
Revenue up 3.5% at Rs 6,961 crore vs Rs 6,703 crore (Bloomberg estimate: Rs 7,333.7 crore).
Ebitda up 4.9% at Rs 1,221 crore vs Rs 1,164 crore (Bloomberg estimate: Rs 1,244.8 crore).
Margin at 17.54% vs 17.36% (Bloomberg estimate: 17%).
Reported profit up 12.1% at Rs 543 crore vs Rs 484 crore (Bloomberg estimate: Rs 533.7 crore).
Subros Q2 FY24 (Consolidated, YoY)
Revenue up 17% at Rs 813.4 crore vs Rs 695 crore (Bloomberg estimate: Rs 768.5 crore).
Ebitda up 77.7% at Rs 70.2 crore vs Rs 39.5 crore.
Margin at 8.63% vs 5.68%.
Reported profit up 2.75 times at Rs 26.8 crore vs Rs 9.7 crore (Bloomberg estimate: Rs 20.4 crore).
Astrazeneca Pharma Q2 FY24 (YoY)
Revenue up 31.7% at Rs 311 crore vs Rs 236 crore.
Ebitda up 29.3% at Rs 52.8 crore vs Rs 40.7 crore.
Margin at 16.96% vs 17.23%.
Reported profit up 60.8% at Rs 52.4 crore vs Rs 32.6 crore.
Dish TV India Q2 FY24 (Consolidated, YoY)
Revenue down 19.7% at Rs 479 crore vs Rs 596 crore.
Ebitda down 37.6% at Rs 195 crore vs Rs 313 crore.
Margin at 40.77% vs 52.47%.
Reported profit down 75.5% at Rs 5.4 crore vs Rs 22 crore.
NCC Q2 FY24 (Consolidated, YoY)
Revenue up 39.9% at Rs 4,719.61 crore vs Rs 3,373.43 crore (Bloomberg estimate: Rs 4,643.2 crore).
Ebitda down 2.1% at Rs 303.74 crore vs Rs 310.13 crore.
Margin at 6.43% vs 9.19%.
Reported profit down 37.1% at Rs 86.5 crore vs Rs 137.5 crore (Bloomberg estimate: Rs 194.8 crore).
Dhanlaxmi Bank Q2 FY24
Interest income up 4% at Rs 121 crore vs Rs 116 crore (YoY).
Reported profit up 46% at Rs 23.2 crore vs Rs 15.9 crore (YoY).
Gross NPA at 5.36% vs 5.21% (QoQ).
Net NPA at 1.29% vs 1.09% (QoQ).
HealthCare Global Q2 FY24 (Consolidated, YoY)
Revenue up 15.9% at Rs 486 crore vs Rs 419 crore (Bloomberg estimate: Rs 481.26 crore).
Ebitda up 13.2% at Rs 83.6 crore vs Rs 73.9 crore (Bloomberg estimate: Rs 83.3 crore).
Margin at 17.21% vs 17.62% (Bloomberg estimate: 17.3%).
Reported profit up two times at Rs 10.8 crore vs Rs 5.3 crore (Bloomberg estimate: Rs 18.3 crore).
Suven Pharma Q2 FY24 (Consolidated, YoY)
Revenue down 17% at Rs 231 crore vs Rs 278 crore (Bloomberg estimate: Rs 302.5 crore).
Ebitda down 1.9% at Rs 97.9 crore vs Rs 99.9 crore (Bloomberg estimate: Rs 125.4 crore).
Margin at 42.39% vs 35.87% (Bloomberg estimate: 41.5%).
Reported profit up 10.4% at Rs 79.6 crore vs Rs 72.1 crore (Bloomberg estimate: Rs 91.3 crore).
BEML Q2 FY24 (Consolidated, YoY)
Revenue up 13.9% at Rs 917 crore vs Rs 805 crore.
Ebitda up 47% at Rs 61.5 crore vs Rs 41.8 crore.
Margin at 6.7% vs 5.19%.
Reported profit up 3.2 times at Rs 51.8 crore vs Rs 16.3 crore.
Engineers India Q2 FY24 (Consolidated, YoY)
Revenue down 0.4% at Rs 789.8 crore vs Rs 793.1 crore (Bloomberg estimate: Rs 911.7 crore).
Ebitda up 2.2 times at Rs 98.6 crore vs Rs 44.9 crore (Bloomberg estimate: Rs 84.5 crore).
Margin at 12.48% vs 5.66% (Bloomberg estimate: 9.3%).
Reported profit up 69.5% at Rs 127.5 crore vs Rs 75.2 crore (Bloomberg estimate: Rs 112.8 crore).
Fineotex Chemicals Q2 FY24 (Consolidated, YoY)
Revenue up 8.2% at Rs 145 crore vs Rs 134 crore.
Ebitda up 52.3% at Rs 38.2 crore vs Rs 25.1 crore.
Margin at 26.29% vs 18.67%.
Reported profit up 51.6% at Rs 31.5 crore vs Rs 20.8 crore.
Hindustan Construction Co. Q2 FY24 (Consolidated, YoY)
Revenue down 18.8% at Rs 1,833 crore vs Rs 2,257 crore.
Ebitda down 25.7% at Rs 254 crore vs Rs 341 crore.
Margin at 13.84% vs 15.12%.
Reported profit down 98% at Rs 6.3 crore vs Rs 310 crore.
Signatureglobal India Q2 FY24 (Consolidated, YoY)
Revenue down 20.4% at Rs 98.5 crore vs Rs 123.7 crore.
Ebitda loss at Rs 30.5 crore vs loss of Rs 91.8 crore.
Reported loss at Rs 19.9 crore vs loss of Rs 59.2 crore.
eClerx Services Q2 FY24 (Consolidated, QoQ)
Revenue up 5.4% at Rs 722 crore vs Rs 684 crore (Bloomberg estimate: Rs 705.5 crore).
EBIT up 25.6% at Rs 174 crore vs Rs 139 crore (Bloomberg estimate: Rs 155.5 crore).
EBIT margin at 24.17% vs 20.28% (Bloomberg estimate: 22.04%).
Reported profit up 27.6% at Rs 136 crore vs Rs 107 crore (Bloomberg estimate: Rs 117.8 crore).
Force Motors Q2 FY24 (Consolidated, YoY)
Revenue up 42.5% at Rs 1,802 crore vs Rs 1,264 crore.
Ebitda up 2.3 times at Rs 225 crore vs Rs 99.2 crore.
Margin at 12.48% vs 7.84%.
Reported profit up 4.9 times at Rs 93.9 crore vs Rs 19.3 crore.
Parag Milk Foods Q2 FY24 (Consolidated, YoY)
Revenue up 20.1% at Rs 798 crore vs Rs 665 crore.
Ebitda up 39.2% at Rs 52.8 crore vs Rs 37.9 crore.
Margin at 6.61% vs 5.7%.
Reported profit up 2.2 times at Rs 25.2 crore vs Rs 11.4 crore.
Hinduja Global Solutions Q2 FY24 (Consolidated, QoQ)
Revenue up 4.1% at Rs 1,180 crore vs Rs 1,133 crore.
Ebitda up 26.9% at Rs 97.5 crore vs Rs 76.8 crore.
Margin at 8.26% vs 6.77%.
Reported profit up 10.8% at Rs 18.4 crore vs Rs 16.6 crore.
General Insurance Corp Q2 FY24 (Standalone)
Total income up 6.5% at Rs 12,307 crore vs Rs 11,552 crore (YoY).
Net profit down 13.7% at Rs 1,605 crore vs Rs 1,860 crore (YoY).
Gross NPA at 2.18% vs 2.25% (QoQ).
Net NPA nil.
Aditya Birla Fashion Q2 FY24 (Consolidated, YoY)
Revenue up 4.9% at Rs 3,226.4 crore vs Rs 3,074.6 crore.
Ebitda down 18.5% at Rs 323.3 crore vs Rs 396.7 crore.
Margin at 10.02% vs 12.9%.
Reported loss at Rs 200.3 crore vs profit of Rs 29.4 crore.
G R Infraprojects Q2FY24 (Consolidated, YoY)
Revenue down 11.9% at Rs 1,882.8 crore vs Rs 2,136.4 crore.
Ebitda down 22.3% at Rs 467.1 crore vs Rs 601.4 crore.
Margin at 24.8% vs 28.15%.
Reported profit down 35.3% at Rs 217.6 crore vs Rs 336.2 crore.
TVS Srichakra Q2FY24 (Consolidated, YoY)
Revenue down 11.3% at Rs 739.7 crore vs Rs 833.5 crore.
Ebitda up 9.6% at Rs 90.6 crore vs Rs 82.7 crore.
Margin at 12.25% vs 9.92%.
Reported profit up 2.25% at Rs 39.05 crore vs Rs 38.19 crore.
Graphite India Q2FY24 (Consolidated, YoY)
Revenue down 3.9% at Rs 793 crore vs Rs 825 crore (Bloomberg estimate: Rs 590.4 crore).
Ebitda loss at Rs 30 crore vs Ebitda profit of Rs 102 crore (Bloomberg estimate: Rs 135.4 crore).
Reported profit up 8.7 times at Rs 802 crore vs Rs 92 crore (Bloomberg estimate: Rs 106.9 crore).
Earnings In Focus
Life Insurance Corp of India, Oil and Natural Gas Corp, Coal India, Mahindra & Mahindra, Hindustan Aeronautics, Hindalco Industries, 3M India, Steel Authority of India, Biocon, Sun TV Network, Ipca Laboratories, Tata Chemicals, Timken India, Glenmark Pharmaceuticals, Housing & Urban Development Corp, Hindustan Copper, Shyam Metalics and Energy, Swan Energy, ESAB India, Garden Reach Shipbuilders & Engineers, PTC Industries, HMT, Edelweiss Financial Services, Techno Electric & Engineering Co, Jai Corp, TechnoCraft Industries (India), Ahluwalia Contracts (India), PTC India, Hemisphere Properties India, Time Technoplast, Kovai Medical Center & HospItal, Optiemus Infracom, Apollo Micro Systems, BF Utilities, Ashiana Housing, Foseco India, and Piccadilly Agro Industries.
Stocks To Watch
Tata Motors: Moody's Investors Service upgraded the company's rating from B1 to Ba3. Moody's also upgraded the company's senior unsecured instrument ratings from B1 and Ba3 and has maintained a positive outlook on all ratings.
Tata Steel Long Products: Trading of company shares on NSE to be suspended w.e.f. Nov. 17 on account of Tata Steel merger.
Zee Entertainment Enterprises: The company has not commented on speculations about Puneet Goenka's role in merged company being under contention. The company recognises the value of the merger with Sony India, and is committed to ensure all parts of the scheme are addressed.
Hindustan Aeronautics: The company inked a contract with Airbus for establishing civil MRO facility for A-320 aircrafts at Nashik.
G R Infraprojects: The company emerged as L-1 bidder for a project worth Rs 200 crore from RITES to construct a passenger ropeway in Jammu and Kashmir.
Garden Reach Shipbuilders & Engineers: The company received a letter of intent from NCPOR for award of contract towards the construction and delivery of an ocean research vessel. The total contract value is approximately Rs 840 crore.
Shoppers Stop: Unit Global SS Beauty Brands invested Rs 4 crore in Pahadi Goodness by way of subscription to 40,000 optionally convertible debentures, representing 33.33% of the equity share capital. The unit has the option to acquire an additional 17.67% of the equity capital in June, 2025.
ICICI Bank: The private lender received RBI nod to make ICICI Securities a wholly owned subsidiary.
Infosys: The company will collaborate with U.S.-based Better Home & Finance to offer mortgage as a service. The companies will offer AI-driven mortgage white-labelled platform for banks and credit unions.
Blue Jet Healthcare: Maharashtra Pollution Control Board issued closure direction for Mahad MIDC unit under water and air pollution laws. The company cannot resume manufacturing activity till further orders from MPCB.
Mphasis: The company's unit Blink UX will update NASA's digital platforms.
Offerings
ASK Automotive: The IPO was subscribed to 51.14 times on its third and final day. Institutional investors led the subscription (142.41 times), followed by non-institutional investors (35.47 times), and retail investors (5.7 times).
New Listing
ESAF Small Finance Bank: The shares will debut on the stock exchanges on Friday at an issue price of Rs 60. The Rs 463-crore IPO was subscribed 73.15 times on the final day. Bids were led by institutional investors (173.52 times), non-institutional investors (84.37 times), retail investors (16.97 times) and portion reserved for employee (4.36 times).
Block Deals
Reliance Industries: The Master Trust Bank of Japan bought 3.47 lakh shares and Copthall Mauritius Investment sold 3.47 lakh shares at Rs 2,335.9 apiece.
Bulk Deals
Aegis Logistics: Smallcap World Fund sold 18.26 lakh shares (0.52%) at Rs 294 apiece.
Orient Green Power Co: Axis Trustee Services sold 1 crore shares (1.01%) at Rs 17.43 apiece.
Insider Trades
ISMT: Promoter group Kirloskar Industries bought 12,909 shares on Nov. 8.
Linc: Promoter group Ekta Jalan and Divya Jalan bought 3,500 and 4,000 shares respectively on Nov. 7 and Nov. 8 respectively.
Trading Tweaks
Price band revised from 20% to 10%: IFGL Refractories.
Ex/record date dividend: 360 One WAM, Amara Raja Energy & Mobility, CARE Ratings, Dabur, Indian Metals & Ferro Alloys, Insecticides (India), Indian Oil Corp, Indian Railway Finance Corp, Navine Flourine International, NIIT, Petronet LNG, Safari Industries, Surya Roshni.
Ex/record date special dividend: ADF Foods, Navine Flourine International.
Ex/record date stock split: MK Proteins.
Move out of short term ASM framework: GOCL Corp, Indo Count Industries, Swan Energy.
Who's Meeting Whom
Blue Jet Healthcare: To meet analysts and investors on Nov. 15.
Uflex: To meet analysts and investors on Nov. 16.
Oil and Natural Gas Corp: To meet analysts and investors on Nov. 15.
Ashiana Housing: To meet analysts and investors on Nov. 16.
FDC: To meet analysts and investors on Nov. 16.
Mishra Dhatu Nigam: To meet analysts and investors on Nov. 15.
F&O Cues
Nifty November futures declined 0.08% at 19,476, at a premium of 80.7 points.
Nifty November futures open interest rose by 3.34% by 7,348 shares.
Nifty Bank November futures rose 0.16% to 43,907.45, at a premium of 223.85 points.
Nifty Bank November futures open interest rose by 1.72% by 3,097 shares.
Nifty Options Nov. 16 Expiry: Maximum call open interest at 19,500 and maximum put open interest at 19,400.
Nifty Bank Options Nov. 15 Expiry: Maximum call open interest at 44,000 and maximum put open interest at 42,000.
Securities in the ban period: Chambal Fertilisers and Chemicals, Delta Corp, GNFC, Multi Commodity Exchange Of India.
