ADVERTISEMENT

Stock Market Today: All You Need To Know Going Into Trade On Nov. 10

Stocks in the news, big brokerage calls of the day, complete trade setup and much more!

<div class="paragraphs"><p>(Source:&nbsp;<a href="https://unsplash.com/@johnschno?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">John Schnobrich</a> on <a href="https://unsplash.com/s/photos/coffee-pot?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>)</p></div>
(Source: John Schnobrich on Unsplash)

Asian stocks weakened after US shares fell and fear swept through cryptocurrencies, denting risk appetite ahead of crucial inflation data due later Thursday.

Crude fell 2.4% on higher stockpiles and weak demand outlook from China, while gold remained mostly unchanged. Bitcoin tumbled by the biggest margin since March 2020 Wednesday to dip below $16,000 after Binance scrapped plans to acquire embattled exchange FTX.com, which may face bankruptcy.

Domestic benchmarks closed lower as the decline in realty, consumer durables, and metal stocks weighed down the indices.

Rupee registered its third straight 50-paise rally against the U.S. dollar as the greenback slipped in the face of rising risk appetite in global markets and decline Treasury yields.

At 6:30 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.4% to 18,121.

Stock Market Today: All You Need To Know Going Into Trade On Nov. 10

Earnings Post Market Hours

Tata Motors Q2 FY23 (Consolidated, YoY)

  • Revenue up 30% at Rs 79,611.4 crore Vs Rs 61,378.82 crore (Bloomberg estimate:  Rs 73,082 crore)

  • EBITDA up 35% at Rs 5,572.3 crore Vs Rs 4,116.6 crore (Bloomberg estimate: Rs 6,379 crore)

  • EBITDA margin at 7% Vs 6.7% (Bloomberg estimate: 8.7%)

  • Net loss narrows 79% at Rs 944.6 crore Vs Rs 4,441.6 crore (Bloomberg estimate: Rs 1,548 crore)

Lupin Q2 FY23 (Consolidated, YoY)

  • Revenue up 1% at Rs 4,146 crore Vs Rs 4,091 crore (Bloomberg estimate: Rs 4,118 crore)

  • Operating profit of Rs 434 crore Vs operating loss Rs 1,316 crore (Bloomberg estimate: Rs 439 crore)

  • Net profit of Rs 130 crore Vs net loss of Rs 2,098 crore (Bloomberg estimate: Rs 128 crore)

Narayana Hrudalaya Q2 FY23 (Consolidated, YoY)

  • Revenue up 21% at Rs 1,142 crore Vs Rs 941 crore (Bloomberg estimate: Rs 1,075 crore)

  • EBITDA up 44% to Rs 244 crore from Rs 169 crore (Bloomberg estimate: Rs 214 crore Profit)

  • Margins at 21.3% Vs 18% (Bloomberg estimate: 19.9%)

  • Net profit surges 70% to Rs 169 crore Vs Rs 99 crore (Bloomberg estimate: Rs 117 crore)

Pidilite Industries Q2 FY23 (Consolidated, YoY)

  • Revenue up 15% at Rs 3,011 crore Vs Rs 2,626 crore (Bloomberg estimate: Rs 3,082.27 crore)

  • EBITDA fell 9% at Rs 499.87 crore Vs Rs 549.59 crore (Bloomberg estimate: Rs 555.06 crore)

  • EBITDA margin 17% Vs 21% (Bloomberg estimate: 18%)

  • Net profit fell 11% at Rs 332.44 crore Vs Rs 374.65 crore (Bloomberg estimate: Rs 366.96 crore)

Petronet LNG Q2 FY23 (Consolidated, QoQ)

  • Revenue up 12% at Rs 15,986 crore Vs Rs 14,264 crore

  • EBITDA up 10% at Rs 1,172.95 crore Vs Rs 1064.39 crore

  • EBITDA margin 7% Vs 7.5%

  • Net profit up 6% at Rs 744.25 crore Vs Rs 700.9 crore

  • Declared special dividend of Rs 7 per share of face value of Rs 10 each.

Borosil Renewables Q2 FY23 (Consolidated, QoQ)

  • Revenue fell 0.5% at Rs 169 crore Vs Rs 170 crore

  • EBITDA fell 13% at Rs 41.90 crore Vs Rs 48.15 crore

  • EBITDA margin 25% Vs 28%

  • Net profit fell 20% at Rs 24.18 crore Vs Rs 30.1 crore

Piramal Enterprises Q2 FY23 (Consolidated, YoY)

  • Revenue up 20% at Rs 1,894 crore Vs Rs 1,574 crore

  • EBITDA loss at Rs 1,889.17 crore Vs EBITDA profit at Rs 1443.54 crore

  • Net loss at Rs 1,536.39 crore Vs net profit 426.48 crore

Deepak Nitrite Q2 FY23 (Consolidated, YoY)

  • Revenue up 17% at Rs 1,962 crore Vs Rs 1,681 crore

  • EBITDA fell 30% at Rs 270.85 crore Vs Rs 386.54 crore

  • EBITDA margin 14% Vs 23%

  • Net profit fell 31% at Rs 174.47 crore Vs Rs 254.34 crore (Bloomberg estimate: Rs 293.35 crore)

Gujarat Alkalies & Chemicals Q2 FY23 (Consolidated, YoY)

  • Revenue up 37% at Rs 1,127 crore Vs Rs 826 crore

  • EBITDA up 59% at Rs 225.90 crore Vs Rs 142.44 crore

  • EBITDA margin 20% Vs 17%

  • Net profit fell 18% at Rs 60.54 crore Vs Rs 74.57 crore

Star Health and Allied Insurance Company Q2 FY23 (Consolidated, YoY)

  • Revenue up 12% at Rs 2,918 crore Vs Rs 2,598 crore (Bloomberg estimate: Rs 2,908 crore)

  • Operating profit of Rs 110 crore Vs operating loss Rs 335 crore

  • Net profit of Rs 93 crore Vs net loss of Rs 171 crore (Bloomberg estimate: Rs 103 crore)

Balrampur Chini Mills Q2 FY23 (Consolidated, YoY)

  • Revenue fell 8% at Rs 1,113 crore Vs Rs 1,214 crore (Bloomberg estimate: Rs 1,065.4 crore)

  • Operating loss at 15.95 crore Vs Operating loss at Rs 134.83 crore

  • Net loss at Rs 28.94 crore Vs Rs net profit of Rs 83.1 crore (Bloomberg estimate: Rs 33.1 crore (profit))

Prestige Estates Projects Q2 FY23 (Consolidated, YoY)

  • Revenue up 10% at Rs 1,475 crore Vs Rs 1,345 crore

  • EBITDA up 1% at Rs 415.60 crore Vs Rs 412.4 crore

  • EBITDA margin 28% Vs 31%

  • Net profit up 80% at Rs 140.7 crore Vs Rs 78.3 crore

Quess Corp Q2FY23 (Consolidated QoQ)

  • Revenue up 7% at Rs 4,273.31 crore vs Rs 3,979.32 crore (Bloomberg estimate: Rs 4,115.83 crore)

  • EBIT down 27% at Rs 67.3 crore vs Rs 92.35 crore (Bloomberg estimate: Rs 112.77 crore)

  • EBIT margin at 1.6% vs 2.3% (Bloomberg estimate: 2.7%)

  • PAT down 11% at Rs 332.44 crore vs Rs 374.65 crore (Bloomberg estimate: Rs 366.96 crore)

  • Board approved dividend of Rs 8 per share of face value Rs 10

Stocks To Watch

  • Axis Bank: Promoter SUUTI will offload the bank’s 4.65 crore equity shares, or 1.5% of the entire shareholding, at an offer price of Rs 830.63 apiece.

  • Tata Motors: The company will delist American Depository Shares from the New York Stock Exchange after January 2023.

  • Hindustan Unilever: The company terminated its marketing, distribution and selling agreement with GlaxoSmithKline Asia and GlaxoSmithKline Consumer.

  • Adani Ports and Special Economic Zone: The company bought Oiltanking’s 49% stake in Indian Oiltanking and additional 10% in the latter’s subsidiary, IOT Utkal, for a consideration of Rs 1,050 crore.

  • JM Financial: The board will meet on Nov. 14 to consider the proposal for interim dividend.

  • Balrampur Chini Mills: The company announced a Rs 145.44-crore buyback scheme, where it will buy back 40.4 lakh shares, or 1.98% of the entire shareholding, at Rs 360 each.

  • Life Insurance Corporation of India: The insurer increased its shareholding in Divi's Laboratories to 5.03% from 4.99%.

  • Tata Power: The company’s subsidiary, Tata Power Renewable, received a letter of award from Maharashtra State Electricity Distribution Corporation Ltd. to set up a 150 MW solar project in Solapur.

  • Venus Pipes & Tubes: The board declared a dividend of Rs 0.50 per share of face value Rs 10.

Offerings

  • Five Star Business Finance: The issue received bids for 2% of the offer size on the first day. The QIB portion was subscribed 3%, while the non-institutional basket was subscribed 1%. The retail portion was subscribed 3%.

  • Archean Chemical Industries: The issue was subscribed 0.30 times, or 30%, on its opening day. Institutional investors bid for 4% of the portion reserved for them, while non-institutional investors subscribed 36% of their respective basket. The retail basket was subscribed 95% in the first day.

  • Kaynes Technology India: The Rs 857.8-crore initial share sale will open on Nov. 10 and continue till Nov. 14. The issue comprises fresh issue of shares worth Rs 530 crore, and an offer for sale worth Rs 327.8 crore. The price band for the issue has been pegged at Rs 559–587 per share. The company raised Rs 256.9 crore by allotting 43.8 lakh shares to anchor investors at the upper limit of the price band.

Earnings

Adani Green Energy, Apollo Hospitals Enterprise, Ashok Leyland, Aster DM Healthcare, Avanti Feeds, BASF India, Bata India, Berger Paints India, Campus Activewear, Century Plyboards (I), Cochin Shipyard, Container Corporation Of India, Deepak Fertilisers & Petrochemicals Corporation, Eclerx Services, Eicher Motors, Equitas Holdings, Fine Organic Industries, Gujarat Narmada Valley Fertilizers & Chemicals, Godawari Power & Ispat, GR Infraprojects, Garden Reach Shipbuilders & Engineers, Gujarat State Petronet, Gujarat Gas, Hemisphere Properties India, India Glycols, India Grid Trust, Indoco Remedies, India Infrastructure Trust, Jindal Steel & Power, Kalpataru Power Transmission, Kalyan Jewellers India, Kennametal India, Kirloskar Brothers, Linde India, Man Infraconstruction, Mazagon Dock Shipbuilders, Samvardhana Motherson International, Muthoot Finance, Natco Pharma, Navneet Education, Nesco, NHPC, Nilkamal, Oil India, Page Industries, Paisalo Digital, Paushak, Power Finance Corporation, Prism Johnson, Ratnamani Metals & Tubes, Shree Renuka Sugars, RITES, Rattanindia Enterprise, Rail Vikas Nigam, Steel Authority Of India, Suzlon Energy, Tasty Bite Eatables, Torrent Power, Trent, Vijaya Diagnostic Centre, Voltamp Transformers, Zomato, Zydus Wellness

Bulk Deals

  • Indigo Paints: ICICI Prudential Life Insurance Company bought 2.5 lakh shares (0.68%), Goldman Sachs (Singapore) Pte.- ODI bought 2.67 lakh shares (0.73%), Pictet-Indian Equities bought 3.24 lakh shares (0.89%) at Rs 1,343 apiece. Sequoia Capital India Investments IV sold 7.5 lakh shares (2.05%) at Rs 1,343.82 apiece, SCI Investments V sold 8.1 lakh shares (2.21%) at Rs 1,343.65 apiece.

  • KDDL: Krishnamurthy Narayanan Iyer bought 73,208 shares (0.57%) at Rs 993.95 apiece.

  • Manappuram Finance: Barclays Merchant Bank (Singapore) sold 45.35 lakh shares (0.54%) at Rs 108.83 apiece.

Who’s Meeting Whom

  • Indo Count Industries: To meet investors and analysts on Nov. 15.

  • Zee Entertainment Enterprises: To meet investors and analysts on Nov. 11.

  • Ipca Laboratories: To meet investors and analysts on Nov. 14.

  • RITES: To meet investors and analysts on Nov. 11.

  • Easy Trip Planners: To meet investors and analysts on Nov. 14.

  • Century Plyboards India: To meet investors and analysts on Nov. 11.

  • NHPC: To meet investors and analysts on Nov. 11.

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

  • PB Fintech: To meet investors and analysts on Nov. 14.

  • Bharat Forge: To meet investors and analysts on Nov. 14.

  • Ratnamani Metals & Tubes: To meet investors and analysts on Nov. 11.

  • Anupam Rasayan India: To meet investors and analysts on Nov. 15.

  • Emami: To meet investors and analysts on Nov. 11.

  • Persistent Systems: To meet investors and analysts on Nov. 10.

  • CreditAccess Grameen: To meet investors and analysts on Nov. 10.

  • Bigbloc Construction: To meet investors and analysts on Nov. 11.

  • Capacite Infraprojects: To meet investors and analysts on Nov. 11.

  • Uflex: To meet investors and analysts on Nov. 16.

  • General Insurance Corporation of India: To meet investors and analysts on Nov. 11.

  • SRF: To meet investors and analysts on Nov. 11.

  • Alembic Pharmaceuticals: To meet investors and analysts on Nov. 11.

  • Adani Transmission: To meet investors and analysts on Nov. 18.

  • Craftsman Automation: To meet investors and analysts on Nov. 14.

Trading Tweaks

  • Ex-Date Bonus: FSN E-Commerce Ventures

  • Ex-Date Interim Dividend: Share India Securities, LT Foods

  • Ex-Date Annual General Meeting: Campus Activewear, Gillette India

  • Ex-Date Final Dividend: Gillette India

  • Ex-Date Interim Dividend: Dalmia Bharat

  • Record-Date Special Dividend: Tech Mahindra

Insider Trades

  • Maharashtra Seamless: Promoter Group Global Jindal Fin-Invest bought 8,467 shares on Nov. 4.

  • Geojit Financial Services: Promoter BNP Paribas SA sold 2 lakh shares on Nov. 7.

F&O Cues

  • Nifty November futures ended at 18,190.1, a discount of 74.05 points.

  • Nifty November futures gained 5.4% and 12,364 shares in Open Interest.

  • Nifty Bank November futures ended at 41,866.9, a premium of 21.65 points.

  • Nifty Bank November futures gained 4.24% and 3,885 shares in Open Interest.

  • Securities in the ban list: Punjab National Bank.

Stock Market Today: All You Need To Know Going Into Trade On Nov. 10

Money Market Update

Rupee sharply appreciated against the dollar to close at 81.43, compared to Monday’s close of 81.91.

Top Research Reports