Share Market Today: Sensex, Nifty Extend Gains To Fourth Straight Week; FPIs Stay Net Buyers
Sensex gained 1.95% to 61,795.04, while Nifty 50 rose 1.78% to 18349.70. Both the indices hit their 52-week high on Friday.
KEY HIGHLIGHTS
Foreign Investors Net Buyers
Overseas investors remained net buyers for the tenth day in a row on Thursday.
As per data from the National Stock Exchange, foreign portfolio investors net bought equities worth Rs 36.06 crore.
Similarly, Domestic institutional investors remained net sellers and sold equities worth Rs 967.13 crore.
Institutions have net bought Rs 800.41 crore worth of equities so far in November and net sold Rs 29,425.81 crore worth of Indian equities till date in 2022.
10-Year Bond Yield Pares Losses
Yield on the 10-year bond fell 4 bps to close at 7.30%, paring losses after it fell to 7.23% during the day. It opened at 7.27% on Friday.
Source: Bloomberg
Rupee Appreciates Sharply Against U.S. Dollar
The Indian rupee appreciated sharply against the U.S. dollar on Friday, tracking a falling dollar after U.S. inflation came in lower than expected in October.
The local currency opened at 80.69, before it gained as much as 1.5% to 80.58 during the day. It strengthened 1.2% to end at 80.82.
The rupee had hit a record low of 83.29 on Oct. 20.
Source: Bloomberg
Closing Bell
Indian stock benchmarks ended higher on Friday, sustaining gains for four weeks in a row, aided by IT, banking, metals and realty stocks.
Sensex gained 1.95% to 61,795.04, while Nifty 50 rose 1.78% to 18349.70. Both the indices hit their 52-week high on Friday.
Sectorally, Nifty PSU Bank, Bank and IT indices were the top gainers of this week. While Nifty Pharma, and Auto indices lagged.
Today, HDFC, HDFC Bank, Infosys, Tech Mahindra and HCL Technologies were the top gainers on Nifty 50.
While Eicher Motors, Hero MotoCorp, Britannia Industries, Mahindra & Mahindra and State Bank of India were the top laggards.
The broader indices underperformed their larger peers with MidCap and SmallCap gaining over 0.15% & 0.33% respectively. While LargeCap almost mirrored its large peers gaining 1.69%
Fifteen of 20 the sectoral measures complied of BSE advanced with BSE Information & Technology and BSE Teck, gaining over 3%.
The market breadth is skewed in the favour of bulls. About 1,821 stocks rose, 1,640 fell and 140 remained unchanged.
Emami Remains Volatile After Q2
Shares of Emami remained volatile after company reported 1% fall in net profit at Rs Rs 184.18.
The stock declined 0.22%. Of the 29 analysts tracking the company, 25 maintain a 'buy', two suggest a 'hold' and two recommend a 'sell'. The return potential is 23.1%.
Emami Q2 FY23 (Consolidated, YoY)
Revenue up 3.4% at Rs 813.75 crore Vs Rs 787.12 crore
Net profit down 1% at Rs 184.18 crore Vs Rs 185.27 crore
Ebitda down 32% at Rs 245.07 crore Vs Rs 361.84 crore
Margins at 30.1% Vs 46%.
Source: Bloomberg, Exchange Filings
Rail Vikas Gains On Order Win
Shares of Rail Vikas rose over about 6.4%, after company won a project in Maldives
Total traded quantity is 2.1 times the 30-day average. The relative index of the stock is 75 suggesting that it might be overbought.
Of the two analysts tracking the company, all maintain a 'buy'. The potential downside is 17.1%.
The project is named Development of UTF (Uthuru Thila Falhu- Island) Harbour, according to stock exchange filing. The estimated cost of the project is Rs 1544.6 crore.
Source: Bloomberg, Exchange filings
Nifty Hits 52-Week High
Nifty 50 gained gained 1.83% to hit a 52-week high of 18,357.70.
Hindalco Gains Even As Q2 Profit Dips
Shares of Hindalco Industries rose 3.43% after Q2 results, company reported a decline of 35.40% in net profit.
The stock gained as much as 4.02% the most in a week .
Total traded quantity is 1.6 times the 30-day average. Of the 24 analysts tracking the company, 23 maintain a 'buy', one suggest a 'hold'. The return potential is 21.7%.
Hindalco Industries (Consolidated, YoY)
Revenue up 17.8% at Rs 56,176 crore vs Rs 47,665 crore (Bloomberg estimate: Rs 43,576 crore)
Ebitda down 29% at Rs 5,362 crore vs Rs 7,558 crore (Bloomberg estimate: Rs 5,731 crore)
Net profit down 35.4% at Rs 2,205 crore vs Rs 3,417 crore (Bloomberg estimate: Rs 2,385 crore)
Ebitda margin at 9.5% vs 15.8%
Hindalco Industries has also approved raising up to Rs. 1000 Crore by way of loans, issuance of bonds, notes, debentures or other securities to banks, financial institutions or other eligible investors.
Source: Bloomberg, Exchange Filings
Alembic Pharma Gains Post Q2
Alembic Pharmaceuticals shares gained 2.25% after the drug maker posted better-than-expected second quarter profit.
Of the 18 analysts tracking the company, three maintain 'buy' and five suggest 'hold', while 10 recommend 'sell'. The return potential of the stock implies an upside of 4.7%.
Alembic Pharma Q2 FY2023 (Consolidated, YoY)
Revenue up 14% at Rs 1,475 crore Vs Rs 1,292 crore (Bloomberg Estimate: Rs 1,396 crore)
Net profit down 19% to Rs 133 crore Vs Rs 164 crore (Bloomberg Estimate: Rs 111 crore Profit)
EBITDA down 2% to Rs 233 crore from Rs 239 crore (Bloomberg Estimate: Rs 208 crore Profit)
Margins at 15.8% Vs 18.5% (Bloomberg Estimate: 14.9%)
Source: Bloomberg, Exchange filings
Alkem Laboratories Shares Decline Post Q2 Miss
Shares of Alkem Laboratories fell after its second quarter profit missed consensus estimates.
The stock fell as much as 3.07%- the most since Sept. 29. Total traded quantity is 3.2 times the 30-day average.
Of the 26 analysts tracking the company, 14 maintain 'buy' and eight suggest 'hold', while four recommend 'sell'. The return potential of the stock implies an upside of 5.3%.
Alkem Laboratories Q2 FY2023 (Consolidated, YoY)
Revenue up 10% at Rs 3,079 crore Vs Rs 2,800 crore (Bloomberg Estimate: Rs 3,010 crore)
Net profit down 39% to Rs 331 crore Vs Rs 544 crore (Bloomberg Estimate: Rs 418 crore Profit)
EBITDA down 27% to Rs 454 crore from Rs 624 crore (Bloomberg Estimate: Rs 526 crore Profit)
Margins at 14.7% Vs 22.3% (Bloomberg Estimate: 17.5%)
Source: Bloomberg, Exchange filings
European Markets Open Mixed
IPCA Labs Declines After Q2 Profit Miss
Shares of IPCA Labs fell 5.5% to Rs 839.45 after the company's second quarter profit missed estimates.
Of the 24 analysts tracking the company, 10 maintain 'buy' and eight suggest 'hold', while six recommend 'sell'. The return potential of the stock implies an upside of 16.9%.
IPCA Laboratories Q2 FY2023 (Consolidated, YoY)
Revenue up 4% at Rs 1,601 crore Vs Rs 1,544 crore (Bloomberg Estimate: Rs 1,655 crore)
Net profit down 42% to Rs 144 crore Vs Rs 250 crore (Bloomberg Estimate: Rs 218 crore Profit)
EBITDA down 29% to Rs 261 crore from Rs 366 crore (Bloomberg Estimate: Rs 337 crore Profit)
Margins at 16.3% Vs 23.7% (Bloomberg Estimate: 20.4%)
Source: Bloomberg, NSE, Exchange filings
MedPlus Health Declines Post Q2 Earnings
Shares of MedPlus Health Services gained 0.6% to RS 582.35 after its second quarter net profit fell.
Of the eight analysts tracking the company, seven maintain 'buy' and one suggests 'hold', while none recommend 'sell'. The return potential of the stock implies an upside of 52.7%.
MedPlus Health Services Q2FY2023 (Consolidated, YoY)
Revenue up 21% at Rs 1,121 crore Vs 925 crore
Net profit down 68% to Rs 7 crore Vs Rs 20 crore
EBITDA at Rs 60 crore Vs Rs 62 crore, down 4%
Margins at 5.3% vs 6.7%
Source: NSE, Exchange filings
Moody’s Investors Service Cuts India’s Growth Forecast To 7% For 2022
India’s GDP is forecasted to grow to 7% from 7.7% for 2022.
The downward revision assumes higher inflation, high interest rates and slowing global growth will dampen economic momentum by more than previously expected.
Source: Moody’s Investors Service
Midday Market Update
India's stock benchmarks advanced aided by gains across IT, metals and banking stocks.
The Sensex advanced 1.86% to 61,743.51, after hitting a 52-week high of 61,754.96 earlier in the day. The Nifty 50 gained 1.72% to 18,337.75, on path to reach its 52-week high.
Today 38 of Nifty 50 stocks rose and 12 declined. HDFC Bank, HDFC, Infosys, HDFC Life Insurance and HCL Technologies were the top gainers on Nifty 50.
While Eicher Motors, Hero MotoCorp, Britannia Industries, NTPC and Dr Reddy's Laboratories were the top laggards.
The broader indices underperformed their larger peers with MidCap and SmallCap gaining over 0.43% and 0.52%, respectively. While LargeCap almost mirrored its large peers gaining 1.63%.
Eighteen of the 20 sectoral measures complied by BSE advanced with BSE Information & Technology, gaining over 3%.
The market breadth is skewed in the favour of bulls. About 1,946 stocks rose, 1,413 fell and 132 remained unchanged.
Zydus Lifesciences Volatile After Q2 Profit Falls
Zydus Lifesciences shares were trading 0.9% lower after its second quarter net profit fell.
Total traded volume is 1.8 times the 30-day average. Of the 33 analysts tracking the company, 19 maintain a 'buy', 10 suggest a 'hold' and four recommend a 'sell'. The return potential is 0.8%.
Zydus Lifesciences Q2 FY2023 (Consolidated, YoY)
Revenue up 10% at Rs 4,135 crore Vs Rs 3,760 crore (BBG estimate : Rs 4,057 crore)
Net profit down 83% to Rs 523 crore Vs Rs 3,002 crore (BBG estimate : Rs 545 crore Profit)
EBITDA down 9% to Rs 815 crore from Rs 900 crore (BBG estimate : Rs 859 crore Profit)
Margins at 19.7% Vs 23.9% (BBG estimate : 21.2%)
Source: Bloomberg, Exchange filings
M&M Gains After Q2 Profit Beat
Mahindra & Mahindra shares gained after the company posted better-than-expected second quarter profit.
The stock went up 1.22%.
Of the 48 analysts tracking the company, 42 maintain a 'buy', four suggest a 'hold' and two recommend a 'sell'. The return potential is 8.2%.
M&M Q2FY23 (Consolidated, YoY)
Revenues up 39% at Rs 29,870.38 crore vs 21,469.8 crore (Bloomberg Estimate: Rs 20,308.2 crore)
Ebitda up 4% at Rs 5,068.25 crore vs 4,891.5 crore (Bloomberg Estimate: Rs 2,328 crore)
Ebitda margin at 17% vs 22.8% (Bloomberg Estimate: 11.5%)
Profit after tax up 44% at Rs 2,772.73 crore vs 1,928.64 crore (Bloomberg Estimate: Rs 1,453.2 crore)
Source: Bloomberg, Exchange filing
Festival Season Boosted Automobile Dispatches In October, Says SIAM
October Automobile Dispatches to Dealerships:
Passenger vehicle sales rose 28.6% to 291,113 units vs 226,353
Two-wheeler sales rose 1.6% to 15.78 lakh units vs 15.53 lakh
Three-wheeler sales jumped 70% to 54,154 units vs 31,812
Source: SIAM
Gujarat Narmada Falls Most In 6 Months
Shares of Gujarat Narmada Valley Fertilizers & Chemicals slumped after the company reported a 16% fall in second quarter net profit.
The stock declined as much as 9.83%- falling the most since May. 13.
Total traded quantity is 5.8 times the 30-day average. The relative strength index of the stock is 27, which indicates that the stock might be oversold.
Gujarat Narmada Valley Fertilizers & Chemicals Q2 FY23 (Consolidated, YoY)
Revenue up 23% at Rs 2,587 crore Vs Rs 2,096 crore
Ebitda fell 28% at Rs 309 crore Vs Rs 431 crore
Ebitda margin 12% Vs Rs 21%
Net profit fell 16% at Rs 237 crore Vs Rs 282 crore
Source: Bloomberg, Exchange filings
Indian Hotels Drops Most In A Month After Q2 Profit Miss
Shares of Indian Hotels declined 4.88%, after company second quarter profits missed consensus estimates and reported 28% fall in net profit.
The stock fell as much as 5.52%- the most since Sept. 26 .
Total traded quantity is 6.7 times the 30-day average. The price crossed below the 50 day simple moving average, which points towards a potential downward price momentum.
Of the 15 analysts tracking the company, 12 maintain a 'buy', two suggest a 'hold' and one recommends a 'sell'. The return potential is 11.9%.
Indian Hotels Q2 FY23 (Consolidated, QoQ)
Revenue fell 3% at Rs 1,233 crore Vs Rs 1,266 crore (Bloomberg Estimate: Rs 1,140 crore)
Ebitda fell 22% at Rs 293.98 crore Vs Rs 377.88 crore ( Bloomberg Estimate: Rs 292.92 crore)
Ebitda margin 24% Vs 30%.
Net profit fell 28% at Rs 129.59 crore Vs Rs 180.84 crore. (Bloomberg Estimate: Rs 133 crore)
Source: Bloomberg, Exchange filings
Nykaa Jumps Nearly 20% To Highest Level In A Month
Shares of Nykaa parent, FSN E-Commerce Ventures soared nearly 20% to its highest level in a month spurred by investor interest amid bonus share issue.
Total traded quantity is 14.2 times the 30 day average. The price crossed above the 50 day simple moving average, indicating a potential upward price momentum.
Of the 20 analysts tracking the company, 15 maintain a 'buy', three suggest a 'hold' and two recommend a 'sell'. The return potential is 15.1%.
Nykaa shares have been volatile over the past few months as the one year anchor lock-in was set to expire on Nov. 10. However, the company announced a bonus share issue with record date Nov. 11
"Bonus shares will come after 45 days in investor account, so, public shareholding of 132 crore shares is only 22 crore shares. Of this 2 crore shares got sold instead of 12 crore shares. This has made Nykaa share not to fall," SP Tulsian, chief executive officer of sptulsian.com told BQPrime.
Source: Bloomberg, Exchange filing
Eicher Motors Declines Post Q2 Miss
Shares of Eicher Motors declined after the automaker's second quarter profit missed consensus estimates.
The stock fell as much as 4.43%- the most since Oct. 3. Total traded quantity is 5.4 times the 30-day average.
Of the 50 analysts tracking the company, 33 maintain a 'buy', seven suggest a 'hold' and seven recommend a 'sell'. The return potential is 5.9%.
Eicher Motors Q2FY23 (Consolidated YoY)
Revenues up 56% at Rs 3,519.4 crore Vs 2,249.56 crore (Bloomberg estimate: Rs 3,511.4 crore)
Ebitda up 75% at Rs 821.61 crore Vs 469.87 crore (Bloomberg estimate: Rs 837 crore)
Ebitda margin at 23.3% Vs 20.9% (Bloomberg estimate: 18.9%)
Net profit up 76% at Rs 656.86 crore Vs 373.2 crore (Bloomberg estimate: Rs 663 crore)
Source: Bloomberg, Exchange filings
DCX Systems Debuts At 39% Premium To IPO Price
Shares of DCX Systems listed at Rs 289.10 per share on the BSE, a premium of 39.66% to its IPO price of Rs 207.
On the NSE, the stock listed at Rs 289.80 a 40.00% premium.
Its IPO was subscribed 69.97 times.
Source: BSE, NSE
Zomato Shares Surge Most In Three Months Post Q2
Shares of Zomato surged after it reported lower-than-expected Q2 net loss, while joining the global rally on moderating U.S. inflation numbers.
The stock gained as much as 12.98% intraday- the most since Aug. 2. As of 9:41 a.m., it gained 10% to trade at Rs 70.35.
Total traded quantity is 10.8 times the 30-day average.
Of the 24 analysts tracking the company, 18 maintain a 'buy', four suggest a 'hold' and two recommend a 'sell'. The return potential is 19.4%.
"With only 150 lakh monthly transacting users currently, Zomato has a long runway for customer acquisition and revenue growth, albeit this may come at the cost of near term profitability," Jefferies said in a note, while keeping a 'buy' with target price Rs 100.
Zomato Q2 Key Highlights (Consolidated, QoQ)
Revenue up 17% at Rs 1,661.3 crore; it rose 62.2% over the previous year. Analysts had projected it at Rs 1,558.3 crore.
Operating losses are at Rs 418 crore compared to an estimate of Rs 331.98 crore. The increase in loss was due to consolidation of quick commerce losses.
Its core business, food ordering and delivery, saw 5.7% growth in revenues to Rs 1,135.7 crore.
Average monthly transacting customers grew 4.4% to 17.5 million.
Net profit at Rs 250.8 crore from Rs 185.7 crore in Q1.
Source: Bloomberg, Exchange filing, Brokerage notes
IT Stocks Rally
Indian IT stocks gained on Friday, following the global rally on moderating U.S. inflation data.
Opening Bell
Indian stock benchmarks opened higher on the back of broad-based gains after consumer price index numbers moderated in the U.S.
Sensex gained about 1.36% to open at 61,440.04 before quickly reaching to its 52-week high. Nifty 50 also rose by a similar magnitude to 18,278.80.
Today all of Nifty 50 stocks rose. Tech Mahindra, Infosys, Wipro, IndusInd Bank and HCL Technologies were the top gainers on Nifty 50.
While Eicher Motors, Hero MotoCorp were the top losers.
The broader indices underperform their larger peers with MidCap and LargeCap gaining over 1.09% & 1.06%, respectively. While LargeCap outperformed its large peers gaining 1.41%.
All of 19 the sectoral measures complied of BSE advanced with BSE Information & Technology, gaining over 3%.
The market breadth is skewed in the favour of bulls. About 2,093 stocks rose, 543 fell and 80 remained unchanged.
10-Year Bond Yield Drops
Yield on the 10-year bond fell 10 bps to 7.24% in early trade.
Source: Bloomberg
Rupee Rises To Highest Level Since September
Rupee gained 1.36% against the U.S. dollar to its highest level since September 22. The Indian currency rose to 80.69 against the greenback.
This is the first time the rupee has gained to below 81 since Sept. 23.
Source: Bloomberg
Global Cues
U.S. Dollar Index at 109.2
U.S. 10-year bond yield at 3.81% on Thursday
Brent crude up 0.15% to $93.81 per barrel
Nymex crude at $86.71 per barrel
SGX Nifty up 1.8% to 18,422.5 as of 6:46 a.m.
Bitcoin fell 1.15% to $17,602.1.
Earnings To Watch
Life Insurance Corporation of India
Hindalco Industries
Mahindra & Mahindra
Adani Power
EID-Parry (India)
Bharat Heavy Electricals
Hindustan Aeronautics
Zydus Lifesciences
Bharat Dynamics
Glenmark Pharmaceuticals
Alkem Laboratories
Zee Entertainment Enterprises
Delhivery
Ircon International
Mahanagar Gas
IndiaBulls Real Estate
Emami
Sobha
For the full list of earnings to watch, click here.
Stocks To Watch
Mahindra & Mahindra: Peugeot Motorcycles will cease to be a subsidiary of Mahindra Two Wheelers Europe Holdings, a wholly owned subsidiary of the company.
Adani Green Energy: The company appointed Phuntsok Wangyal as chief financial officer with effect from Nov. 11, after the resignation of Kaushal Shah from the office.
Adani Power: The company will sell its entire stake in its wholly owned subsidiary Support Properties to AdaniConnex for Rs 1,556 crore.
Sunteck Realty: The board has approved amalgamation of subsidiary Starlight Systems (I) into the company.
SJVN: The company secured 83 MW floating solar project in Madhya Pradesh from REWA Ultra Mega Solar Ltd. at Rs 3.70 per unit on build-own-and-operate basis.
Trent: The company will raise Rs 600 crore through commercial papers for its working capital requirements.
Reliance Industries: Reliance Jio, the telecom arm of the company, launched 5G beta services in Bengaluru and Hyderabad.
Bank of Baroda: The bank increased interest rates across MCLR tenors in the range of 10-15 basis points, effective Nov. 12.
Alkem Laboratories: The company received Form 483 with three observations from U.S. FDA for its manufacturing facility located in St. Louis after a pre-approval inspection Oct. 31 to Nov. 9.
Earnings Post Market Hours
Eicher Motors Q2FY23 (Consolidated YoY)
Revenues up 56% at Rs 3,519.4 crore Vs 2,249.56 crore (Bloomberg estimate: Rs 3,511.4 crore)
Ebitda up 75% at Rs 821.61 crore Vs 469.87 crore (Bloomberg estimate: Rs 837 crore)
Ebitda margin at 23.3% Vs 20.9% (Bloomberg estimate: 18.9%)
Net profit up 76% at Rs 656.86 crore Vs 373.2 crore (Bloomberg estimate: Rs 663 crore)
Berger Paints Q2 FY23 (Consolidated, YoY)
Revenue up 20% at Rs 2,670.9 crore Vs Rs 2,225.01 crore (Bloomberg estimate: Rs 2,682.34 crore)
Ebitda up 3% to Rs 363.95 crore Vs Rs 353.99 crore (Bloomberg estimate: Rs 383.21 crore)
Ebitda margins at 13.6% Vs 15.9% (Bloomberg estimate: 14.3%)
Net profit was flat at Rs 219.36 crore Vs Rs 218.85 crore (Bloomberg estimate: Rs 237.59 crore)
Zomato Q2 FY23 (Consolidated, QoQ)
Revenue up 17% at Rs 1,661.3 crore Vs Rs 1,413.9 crore (Bloomberg estimate: 1,558.30 crore)
Ebitda losses at Rs 418 crore Vs Rs 307.3 crore (Bloomberg estimate: 331.98 crore)
Net loss came in at Rs 250.8 crore Vs Rs 185.7 crore (Bloomberg estimate: 252.75 crore)
Apollo Hospitals Q2 FY23 (Consolidated, YoY)
Revenue up 14% at Rs 4,251 crore Vs Rs 3,717 crore (Bloomberg estimate: Rs 4,003 crore)
Ebitda down 8% to Rs 565 crore from Rs 615 crore (Bloomberg estimate: Rs 546 crore Profit)
Ebitda margins at 13.3% Vs 16.5% (Bloomberg estimate: 13.6%)
Net profit down 18% to Rs 204 crore Vs Rs 248 crore (Bloomberg estimate: Rs 223 crore)
Container Corporation of India Q2 FY23 (Consolidated, YoY)
Revenues up 8% at Rs 1,986.34 crore Vs 1,837.2 crore (Bloomberg estimate: Rs 2,043 crore)
Ebitda up 17% at Rs 505.56 crore Vs 431.86 crore (Bloomberg estimate: Rs 485.5 crore)
Ebitda margin at 25.5% Vs 23.5% (Bloomberg estimate: 23.8%)
Net profit up 19% at Rs 295.86 crore Vs 248.29 crore (Bloomberg estimate: Rs 307.6 cr)
Adani Green Energy Q2 FY23 (Consolidated, YoY)
Revenue up 22% at Rs 1,586 crore Vs Rs 1,295 crore
Ebitda up 12% at Rs 866 crore Vs Rs 770 crore
Ebitda margin 55% Vs 59%
Net profit up 49% at Rs 149 crore Vs Rs 100 crore
Suzlon Energy Q2 FY23 (Consolidated, YoY)
Revenue up 6% at Rs 1,430 crore Vs Rs 1,347 crore
Ebitda fell 27% at Rs 162.28 crore Vs Rs 223.6 crore
Ebitda margin 11% Vs 17%
Net profit of Rs 57.43 crore Vs net loss of Rs 10.55 crore
Steel Authority of India Q2 FY23 (Consolidated, YoY)
Revenue up 2% at Rs 26,246 crore Vs Rs 26,828 crore (Bloomberg estimate: Rs 25,238.45 crore)
Ebitda fell 90% at Rs 735.21 crore Vs Rs 7,033.85 crore (Bloomberg estimate: Rs 853.60 crore)
Ebitda margin 3% Vs 26% (Bloomberg estimate: 3.4%)
Net loss of Rs 329.36 crore Vs Rs net profit of 4338.75 crore
Gujarat State Petronet Q2 FY23 (Consolidated, QoQ)
Revenue fell 22% at Rs 4,443 crore Vs Rs 5,670 crore
Ebitda up 1% at Rs 983.40 crore Vs Rs 973.51 crore
Ebitda margin 22% Vs 17%
Net profit fell 8% at Rs 436.04 crore Vs Rs 473.12 crore
Bata India Q2 FY23 (Consolidated, YoY)
Revenue up 35% at Rs 830 crore Vs Rs 614 crore
Ebitda up 35% at Rs 160.92 crore Vs Rs 119.22 crore
Ebitda margin flat at 19%
Net profit up 47% at Rs 54.8 crore Vs Rs 37.18 crore
Indian Hotels Q2 FY23 (Consolidated, QoQ)
Revenue fell 3% at Rs 1,233 crore Vs Rs 1,266 crore
Ebitda fell 22% at Rs 293.98 crore Vs Rs 377.88 crore
Ebitda margin 24% Vs 30%
Net profit fell 28% at Rs 129.59 crore Vs Rs 180.84 crore
Torrent Power Q2 FY23 (Consolidated, QoQ)
Revenue up 3% at Rs 6,703 crore Vs Rs 6,510 crore
Ebitda up 10% at Rs 1,164.16 crore Vs Rs 1060.42 crore
Ebitda margin 17% Vs 16%
Net profit fell 4% at Rs 484.19 crore Vs Rs 502.01 crore
Jindal Steel & Power Q2 FY23 (Consolidated, YoY)
Revenue fell 1% at Rs 13,521 crore Vs Rs 13,612 crore
Ebitda fell 58% at Rs 1,931.37 crore Vs Rs 4594.43 crore
Ebitda margin 14% Vs 34%
Net profit fell 92% at Rs 219.27 crore Vs Rs 2,678.42 crore
Trent Q2 FY23 (Consolidated, QoQ)
Revenue up 8% at Rs 1,953 crore Vs Rs 1,803 crore
Ebitda fell 12% at Rs 255.81 crore Vs Rs 291.63 crore
Ebitda margin 13% Vs 16%
Net profit fell 31% at Rs 78.94 crore Vs Rs 114.53 crore
Gujarat Narmada Valley Fertilizers & Chemicals Q2 FY23 (Consolidated, YoY)
Revenue up 23% at Rs 2,587 crore Vs Rs 2,096 crore
Ebitda fell 28% at Rs 309 crore Vs Rs 431 crore
Ebitda margin 12% Vs Rs 21%
Net profit fell 16% at Rs 237 crore Vs Rs 282 crore
Muthoot Finance Q2 FY23 (Consolidated, YoY)
Interest income fell 8% at Rs 2,757.88 crore Vs Rs 3,003.2 crore
Net profit fell 10% at Rs 901.6 crore Vs Rs 1,002.8 crore
Ashok Leyland Q2 FY23 (Consolidated, YoY)
Revenue up 73% at Rs 9,600.08 crore vs Rs 5,562.47 crore
Ebitda up 77% at Rs 1,020.04 crore vs Rs 575.95 crore
Ebitda margin at 10.6% vs 10.4%
Net profit at Rs 163.91 crore vs net loss of Rs 103.43 crore
Sensex, Nifty Set To Rise
Shares rallied in Japan, South Korea, and Australia, while stock futures for Hong Kong pointed to large gain after the S&P 500 climbed 5.5% -- the best first-day reaction to a CPI report in decades. US and European futures also rose in Asia.
West Texas Intermediate crude benchmark rose 1% to $86.67 per barrel, while gold rose 2.2%. Bitcoin managed to rise 9.9% to trade around $17,300-level as the FTX meltdown keeps pressure on the cryptocurrency market.
Indian benchmarks indices Sensex and Nifty closed lower on Thursday for the second day, dragged by declines in realty, consumer durables, and metal stocks.
The rupee depreciated against the U.S. dollar for the first time in four days after registering three consecutive 50-paisa gains this week.
At 7:53 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 18% to 18,422.