Stocks To Watch: SBI, Titan, Marico, TVS Motor, Indigo, BPCL, CEAT, Coal India, Divi's Labs, Paytm

Equities opened higher in Japan, South Korea and Australia, though the gains were more modest than futures had suggested earlier. Contracts for the S&P 500 and Nasdaq 100 fell, as did European stock futures, after the shares on Wall Street snapped a four-day slide on Friday.

Investor appetite soured, sending US equity futures and commodities lower after China affirmed its Covid-Zero policy stance. The dollar advanced against major currencies on its appeal as a haven asset. 

Oil slumped around 2%, leading falls in commodities on the prospect of weaker demand from China.

On Friday, India's stock benchmarks sustained gains for three weeks in a row aided by weekly gains in metals, PSU banks and media stocks.

At 6:35 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- gained 0.54% to 18,301.

Stocks To Watch

• TVS Motor Company: The board approved issue of zero-coupon debentures up to Rs 310 crore to subsidiary Sundaram Auto Components.

• Bhagiradha Chemicals & Industries: The board declared dividend of Re. 1 per equity share of face value of Rs 10.

• Cipla: The board decided not to proceed with the transfer of India-based U.S. business undertaking.

• Escorts Kubota: The company will buy rough terrain crane business and the associated equipment and parts from Tadano Escorts India for Rs 16.59 crore. The company will also sell 49% stake in Tadano.

• Birlasoft: Dharmender Kapoor resigns as managing director and chief executive officer. Company appointed Angan Guha as CEO and MD, effective Dec. 1, 2022.

• IDFC First Bank: The board approved plan to raise Rs 4,000 crore Tier-1 capital via issuance of equity share.

• Reliance Industries: Veteran banker K.V. Kamath has been appointed non-executive chairman of the company’s financial services arm Reliance Strategic Investments, which is soon to be demerged and listed as Jio Financial Services.

• Indian Railway Finance Corporation: The board will convene on Nov. 10, 2022 to consider interim dividend for the current financial year.

• Bank of India: The board approved Raising of Tier-1 capital via issue of AT-1 bonds worth Rs 2,500 crore.

• Mahanagar Gas: The company increased CNG price by Rs 3.50 per kg, and domestic PNG price by Rs 1.50 per SCM in its license areas spread in and around Mumbai.

• Jagran Prakashan: The company announced a Rs 345-crore buyback plan, where it will buy back 4.6 crore equity shares at Rs 75 apiece via tender offer route. The buyback size represents 17.45% of company's total equity shares.

• Vidhi Specialty Food: The board will meet on Nov. 11 to consider the first interim dividend for the current fiscal.

Adani Ports and Special Economic Zone: October business update

- The company handled 25 MMT cargo in October.

- Daily average volumes improved to 1 MMT in second half of the month.

- APSEZ recorded 203 MMT cargo volume during April-October period, amounting to a growth of 10% year-on-year.

Offerings

• Fusion MicroFinance: The issue was subscribed 2.95 times on the final day. The QIB portion was subscribed 8.59 times. The non-institutional investors basket was subscribed 1.38 times, while retail investors placed bids for only 51% of their portion.

• Bikaji Foods International: The issue was subscribed 1.48 times on the second day. The QIB portion was subscribed 3%, whereas the non-institutional basket was subscribed 1.42 times. Retail investor portion was subscribed 2.33 times, while employees of the company bid for 1.41 times of the portion reserved for them.

• Global Health: The IPO received bids for 49% of its total size on the second day. Institutional buyers placed bids for 56% of their basket. The baskets for non-institutional and retail investors saw 96% and 25% subscription, respectively.

Earnings

Aditya Birla Capital, Affle (India), Alkyl Amines Chemicals, Automotive Axles, Bannari Amman Sugars, BLS International Services, Bharat Petroleum Corporation, Ceat, Cera Sanitaryware, Coal India, Divi's Laboratories, Endurance Technologies, India Cements, KEC International, K.P.R. Mill, Mold-Tek Packaging, One 97 Communications, PB Fintech, Privi Speciality Chemicals, RateGain Travel Technologies, Sansera Engineering, Sequent Scientific, Sun Pharma Advanced Research Company, Sundaram-Clayton, Tata Teleservices (Maharashtra), Ujjivan Small Finance Bank, Vinati Organics

Earnings Post Market Hours

Titan Company Q2 FY23 (Consolidated YoY)

• Revenue up 22% at Rs 9,163 crore Vs Rs 7,493 crore (Bloomberg estimate: Rs 8,507.88 crore)

• EBITDA up 29% to Rs 1247 crore Vs Rs 968 crore (Bloomberg estimate: Rs 1,105.68 crore)

• EBITDA margin at 13.6 % Vs 12.9% (Bloomberg estimate: 13%)

• Net profit up 30% at Rs 831 crore Vs Rs 639 crore (Bloomberg estimate: Rs 739.04 crore)

Marico Q2 FY23 (Consolidated YoY)

• Revenue up 3% at Rs 2,496 crore Vs Rs 2,419 crore (Bloomberg estimate: Rs 2488.49 crore)

• EBITDA up 2% to Rs 433 crore Vs Rs 423 crore (Bloomberg estimate: Rs 443.76 crore)

• EBITDA margin at 17.3% Vs 17.5% (Bloomberg estimate: 17.8%)

• Net profit down 3% at Rs 301 crore Vs Rs 309 crore (Bloomberg estimate: Rs 311.75 crore)

TVS Motor Q2 FY23 (Consolidated YoY)

• Revenue from operations rises 32% to Rs 8,560.76 Crore (Bloomberg estimate: Rs 6,365 crore)

• EBITDA rises 47% to Rs 1,086.32 crore Vs 739.79 crore (Bloomberg estimate: Rs 659 crore)

• EBITDA margin stood at 12.7% versus 11.4% last year (Bloomberg estimate: 10.4%)

• Net profit rises 60% to Rs 386.31 crore Vs Rs 242.17 crore (Bloomberg estimate: Rs 351.5 crore)

InterGlobe Aviation Q2 FY23 (Consolidated YoY)

• Revenue from operations rises 123% to Rs 12,497.6 crore Vs Rs 5,608.5 crore (Bloomberg estimate: Rs 11,769.1 crore)

• EBITDAR falls 32.7% to Rs 229.2 crore Vs 340.8 crore

• EBITDAR margin at 1.8% versus 6.1% last year

• Net loss widens 10.3% to Rs 1,583.3 crore Vs Rs 1435.7 crore (Bloomberg estimate: Rs 892.01 crore)

Britannia Q2 FY23 (Consolidated figures, YoY)

• Revenue up 21% at Rs 4379.61 crore Vs Rs 3607.37 crore

• Net profit up 28% at Rs 493.28 crore Vs Rs 384.22 crore

• EBITDA up 27% to Rs 711.70 crore Vs Rs 558.33 crore

• Margins at 16.3% Vs 15.5%

City Union Bank Q2 FY23 (YoY)

• Net interest income rises 19% to Rs 567.9 crore Vs 478.26 crore

• Net profit rises 52% at Rs 276.45 crore Vs Rs 182.1 crore (Bloomberg estimate: Rs 227.01 crore)

• GNPA at 4.36% Vs 4.65% (QoQ)

• NNPA at 2.69% Vs 2.89% (QoQ)

Godrej Agrovet Q2 FY23 (Consolidated YoY)

• Revenue up 14% at Rs 2,445.33 crore Vs Rs 2,154.07 crore (Bloomberg estimate: Rs 2,537.84 crore)

• EBITDA down 21% to Rs 150.29 crore Vs Rs 190.43 crore (Bloomberg estimate: Rs 204.3 crore)

• EBITDA margin at 6.1% Vs 8.8% (Bloomberg estimate: 8.1%)

• Net profit down 34% at Rs 71.76 crore Vs Rs 109.26 crore (Bloomberg estimate: Rs 120.13 crore)

ZF Commercial Vehicle Control Systems India Q2 FY23 (Consolidated YoY)

• Revenue up 29% at Rs 792.83 crore Vs Rs 616.53 crore

• EBITDA up 71% to Rs 107.56 crore Vs Rs 62.72 crore

• EBITDA margin at 13.6% Vs 10.2%

• Net profit up 113% at Rs 68.64 crore Vs Rs 32.25 crore

State Bank of India Q2FY23 (Standalone, YoY)

• Net profit: Rs 13,264.5 crore vs Rs 7,626.6 crore (YoY) (Bloomberg estimate: Rs 10,267 crore)

• NII: Rs 35,182.45 crore vs Rs 31,183.89 crore (YoY)

• GNPA: 3.52% vs 3.91% (QoQ)

• NNPA: 0.8% vs 1% (QoQ)

Power Grid Corporation of India Q2 FY23 (Consolidated YoY)

• Revenue up 9% at Rs 11,150.57 crore Vs Rs 10,268.48 crore (Bloomberg estimate: Rs 11,215.2 crore)

• EBITDA up 3% at Rs 9,425.85 crore Vs Rs 9,112.04 crore (Bloomberg estimate: Rs 9,516.1 crore)

• EBITDA margin at 84.5% Vs 88.7% (Bloomberg estimate: 84.9%)

• Net profit up 8% at Rs 3,650.16 crore Vs Rs 3,376.38 crore (Bloomberg estimate: Rs 3,969.6 crore)

• Dividend of Rs 5 per equity share of face value Rs. 10

Bulk Deals

• RateGain Travel Technologies: Plutus Wealth Management LLP bought 10.5 lakh shares (0.97%) at Rs 281.16 apiece

Who’s Meeting Whom

• PB Fintech: To meet investors and analysts on Nov. 7.

• Thomas Cook (India): To meet investors and analysts on Nov. 14.

• United Breweries: To meet investors and analysts on Nov. 7.

• Sansera Engineering: To meet investors and analysts on Nov. 9.

• Salzer Electronics: To meet investors and analysts on Nov. 11.

• Jubilant FoodWorks: To meet investors and analysts on Nov. 8.

• Snowman Logistics: To meet investors and analysts on Nov. 10.

• Linc: To meet investors and analysts on Nov. 10.

• Laxmi Organic Industries: To meet investors and analysts on Nov. 9.

• Shyam Metalics and Energy: To meet investors and analysts on Nov. 10.

• Quess Corp: To meet investors and analysts on Nov. 10.

• Crisil: To meet investors and analysts on Nov. 15 and Nov. 16.

• Manappuram Finance: To meet investors and analysts on Nov. 14.

• UNO Minda: To meet investors and analysts on Nov. 10.

• Punjab & Sind Bank: To meet investors and analysts on Nov. 5.

• Zydus Lifesciences: To meet investors and analysts on Nov. 11.

• Yash Pakka: To meet investors and analysts on Nov. 7.

• Ethos: To meet investors and analysts on Nov. 7.

• Bajaj Consumer Care: To meet investors and analysts on Nov. 10.

• SMC Global Securities: To meet investors and analysts on Nov. 7.

Trading Tweaks

• Ex-Date Interim Dividend: Supreme Industries, Supreme Petrochem, REC

• Record-Date Interim Dividend: Crisil, Allsec Technologies, Kewal Kiran Clothing

Insider Trades

• Maharashtra Seamless: Promoter Group Sudha Apparels bought 40,000 shares on Nov. 11.

• Supreme Petrochem: Promoter Groups Jovial Investment & Trading Company bought 30,000 shares and Venktesh Investment And Trading Company bought 10,633 shares on Oct. 2.

• Dhampur Bio Organics: Promoter Shudh Edible Products bought 1.24 lakh shares between Nov. 2 and Nov. 4.

Pledge Share Details

• Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 12.04 lakh shares between Oct. 29 and Nov. 3.