Stock Market Today: All You Need To Know Going Into Trade On Nov. 14
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
Asian equities advanced on Monday with support from the biggest weekly gain in US stocks since June and China’s policy shifts on Covid and property.
The S&P 500 closed near session highs in the biggest weekly gain since June. The dollar slumped more than 1% on Friday in the biggest weekly drop since March 2020, causing the rupee to register strong gains.
Cryptocurrencies resumed a selloff amid FTX’s deepening woes with Sam Bankman-Fried’s crypto empire filing for bankruptcy.
Oil advanced for a third session as investors weighed the outlook for Chinese demand as the market tightens heading into winter.
At 6:40 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- rose 0.28% to 18,488.
Earnings Post Market Hours
Glaxosmithkline Pharmaceuticals Q2 FY23 (Consolidated, YoY)
Revenue down 2% at Rs 917 crore Vs Rs 934 crore (Bloomberg estimate: Rs 987 crore)
EBITDA at par at Rs 257 crore Vs Rs 256 crore (Bloomberg estimate: Rs 240 crore)
Margins at 28% Vs 27.4% (Bloomberg estimate: 24.3%)
Net profit down 5% to Rs 193 crore Vs Rs 204 crore (Bloomberg estimate: Rs 181 crore)
Zee Entertainment Enterprises Q2 FY23 (Consolidated, QoQ)
Revenue up 10% at Rs 2,028 crore Vs Rs 1,846 crore (Bloomberg estimate: Rs 1,973.23 crore)
EBITDA up 19% at Rs 297.29 crore Vs Rs 250.66 crore (Bloomberg estimate: 285.41 crore)
EBITDA margin 15% Vs 14% (Bloomberg estimate: 14.5%)
Net profit up 6% at Rs 112.89 crore Vs Rs 106.6 crore (Bloomberg estimate: 164.30 crore)
Bharat Heavy Electricals Q2 FY23 (Consolidated, YoY)
Revenue up 2% at Rs 5,203 crore Vs Rs 5,112 crore
EBITDA loss of Rs 243.87 crore Vs Rs 29.18 crore
Net profit of Rs 10.29 crore Vs Rs net loss of Rs 67.49 crore
Glenmark Pharmaceuticals Q2 FY23 (Consolidated, YoY)
Revenue up 7% at Rs 3,375 crore Vs Rs 3,147 crore (Bloomberg estimate: Rs 3,060 crore)
EBITDA up 5% to Rs 622 crore from Rs 590 crore (Bloomberg estimate: Rs 541 crore)
EBITDA margins at 18.4% Vs 18.8% (Bloomberg estimate: 17.7%)
Net profit up 1% to Rs 260 crore Vs Rs 258 crore (Bloomberg estimate: Rs 212 crore)
JB Chemicals and Pharmaceuticals Q2 FY23 (Consolidated, YoY)
Revenue up 37% at Rs 809 crore Vs Rs 593 crore (Bloomberg estimate: Rs 778 crore)
Net profit up 14% to Rs 111 crore Vs Rs 98 crore (Bloomberg estimate: Rs 107 crore)
EBITDA up 46% to Rs 185 crore from Rs 127 crore (Bloomberg estimate: Rs 171 crore)
EBITDA margins at 22.8% Vs 21.4% (Bloomberg estimate: 22%)
Thyrocare Technologies Q2 FY23 (Consolidated, YoY)
Revenue down 23% at Rs 135 crore Vs Rs 176 crore (Bloomberg estimate: Rs 134 crore)
Net profit down 80% to Rs 15 crore Vs Rs 78 crore (Bloomberg estimate: Rs 23 crore)
EBITDA down 65% to Rs 32 crore from Rs 89 crore (Bloomberg estimate: Rs 38 crore)
EBITDA margins at 23.4% Vs 50.7% (Bloomberg estimate: 28%)
Thermax Q2 FY23 (Consolidated, YoY)
Revenue up 41% at Rs 2,075 crore Vs Rs 1,469 crore
EBITDA up 28% at Rs 140.55 crore Vs Rs 110.01 crore
EBITDA margin 7% Vs 7.5%
Net profit of Rs 109.14 crore Vs net loss of Rs 67.49 crore
Delhivery Q2 FY23 (Consolidated, YoY)
Revenue up 20% at Rs 1,796 crore Vs Rs 1,498 crore
EBITDA loss at Rs 137.75 crore Vs Rs 518.05 crore
Net loss fell at Rs 254.1 crore Vs Rs 635.04 crore
Life Insurance Corporation of India Q2 FY23 (Standalone, YoY)
Revenue rose 19% at Rs 2.2 lakh crore Vs Rs 1.86 lakh crore
Net profit up 10x at Rs 15,952 crore Vs Rs 1,434 crore
Solvency ratio 188% Vs 183%
Management expense ratio 18.25% Vs 14.92%
Fortis Healthcare Q2 FY23 (Consolidated, YoY)
Revenue up 10% at Rs 1,607 crore Vs Rs 1,463 crore (Bloomberg estimate: Rs 1,587 crore)
EBITDA up 7% to Rs 303 crore from Rs 284 crore (Bloomberg estimate: Rs 284 crore)
EBITDA margins at 18.8% Vs 19.4% (Bloomberg estimate: 17.9%)
Net profit up 91% to Rs 204 crore Vs Rs 107 crore (Bloomberg estimate: Rs 125 crore)
Astral Q2 FY23 (Consolidated, YoY)
Revenue fell 2% at Rs 1,172 crore Vs Rs 1,200 crore
EBITDA fell 32% at Rs 144 crore Vs Rs 211.5 crore
EBITDA margin 12% Vs 18%
Net profit down 50% at Rs 70.4 crore Vs Rs 141.2 crore
Stocks To Watch
NDTV: The open offer for the company will begin from Nov. 22 with VCPL, AMG Media Networks and Adani Enterprises as acquirers. Meanwhile, the company and its subsidiary, NDTV Networks, have put on hold the proposed sale of their 20% shareholding of Astro Awani Network, a Malaysia-based media company.
Life Insurance Corporation of India: The insurer increased its shareholding in Welspun Corp to 7.25% from 5.24%.
Hindustan Zinc: The board will convene on Nov. 16 to consider the proposal for an interim dividend for the current fiscal. The record date for the dividend, if declared, will be Nov. 24.
HEG: The company will start manufacturing of graphite anodes for lithium-ion cells as well as allied and ancillary products through incorporation of a subsidiary company.
Bharat Electronics: The company confirmed that it has signed an MoU with Aerosense Technologies for development and marketing of Drones and soft kill aerial anti drone.
Macrotech Developers: The company will absorb five wholly owned subsidiaries—Bellissimo Constructions and Developers, Homescapes Constructions, Primebuild Developers and Farms, Palava Institute of Advanced Skill Training, and Center for Urban Innovation.
Five Star Business Finance: The issue received bids for 70% of the offer size on its final day. The QIB portion was subscribed 1.77 times. The non-institutional basket was subscribed 61%, while the retail portion was subscribed 11%.
Archean Chemical Industries: The IPO was subscribed 32.23 times on the second day. The QIB portion was oversubscribed 48.91 times, while non-institutional investors’ subscription stood at 14.9 times. The retail portion was subscribed 9.96 times.
Kaynes Technology India: The issue was completely subscribed on the first day, with bids placed for 1.1 times the shares on offer. Institutional investors placed bids for 2.45 times their portion, while non-institutional investors bid for 77% of their basket. The retail portion was subscribed 47%, and the employee portion was subscribed 3.22 times.
Inox Green Energy: The IPO was subscribed 46% on its opening day. The QIB portion was subscribed 47%, while non-institutional investors picked 5% of their basket. The retail portion was subscribed 1.03 times.
Keystone Realtors: The Mumbai-based realtor will kick off its maiden share sale on Nov. 14, and close it on Nov. 16. The IPO comprises fresh issue of Rs 560 crore and offer for sale worth Rs 75 crore. The price band for the issue has been pegged at Rs 514-541 per share. Prior to the issue opening, Keystone has raised Rs 190.5 crore from anchor investors.
Aarti Industries, Abbott India, Ahluwalia Contracts (India), Aia Engineering, Apollo Tyres, Arvind Fashions, Balkrishna Industries, Bharat Forge, Biocon, CESC, Dilip Builidcon, Dish TV India, Eureka Forbes, FDC, GMR Airports Infrastructure, Godrej Industries, Goodyear India, Grasim Industries, Greaves Cotton, Hinduja Global Solutions, Housing & Urban Development Corporation, Indiabulls Housing Finance, Indian Railway Catering and Tourism Corporation, Jindal Poly Films, Jindal Worldwide, JM Financial, Jtekt India, Jyothy Labs, Kama Holdings, Kaveri Seed Company, Lux Industries, Marksans Pharma, Mishra Dhatu Nigam, Mindspace Business Parks REIT, MMTC, NBCC (India), National Fertilizers, National Highways Infra Trust, NMDC, Oil and Natural Gas Corporation, Polyplex Corporation, PTC Industries, Radico Khaitan, Raj Rayon Industries, Responsive Industries, Sadhana Nitrochem, Sindhu Trade Links, Spice Jet, Star Cement, Suprajit Engineering, Swan Energy, Syrma SGS Technology, Uflex, Varroc Engineering, Vesuvius India
FSN E-Commerce Ventures: Societe Generale bought 26.3 lakh shares (0.09%), Morgan Stanley Asia (Singapore) bought 82.13 lakh shares (0.29%), TPG Growth IV SF sold 1.08 crore shares (0.38%) at Rs 186.4 apiece.
PB Fintech: Tiger Global Eight Holdings sold 32.84 lakh shares (0.73%) at Rs 388.14 apiece and 76.13 lakh shares (1.69%) at Rs 374.09 apiece, Internet Fund III Pte. Ltd sold 51.59 lakh shares (1.15%) at Rs 375.11 apiece.
Rama Steel Tubes: Nomura Singapore bought 5 lakh shares (0.57%) at Rs 164.15 apiece.
Who’s Meeting Whom
Shaily Engineering Plastics: To meet investors and analysts on Nov. 14.
Sobha: To meet investors and analysts on Nov. 14.
Caplin Point Laboratories: To meet investors and analysts on Nov. 12.
Dodla Dairy: To meet investors and analysts on Nov. 14.
Everest Kanto Cylinder: To meet investors and analysts on Nov. 15.
Globus Spirits: To meet investors and analysts on Nov. 15.
Granules India: To meet investors and analysts on Nov. 17, Nov. 18 and Nov. 22.
Rama Steel Tubes: To meet investors and analysts on Nov. 15.
V-Mart Retail: To meet investors and analysts on Nov. 14.
Navkar Corporation: To meet investors and analysts on Nov. 14.
Kalyan Jewellers India: To meet investors and analysts on Nov. 14 and Nov. 15.
Rupa & Company: To meet investors and analysts on Nov. 14.
Brand Concepts: To meet investors and analysts on Nov. 15.
Medplus Health Services: To meet investors and analysts on Nov. 14.
Banswara Syntex: To meet investors and analysts on Nov. 15.
Repco Home Finance: To meet investors and analysts on Nov. 15.
Ex-Date Interim Dividend: EPL, SMC Global Securities, Amrutanjan Health Care, Jamna Auto Industries, Aegis Logistics, Coal India, Amara Raja Batteries
Record-Date Interim Dividend: Siyaram Silk Mills, GMM Pfaudler, Ajanta Pharma
Move Into Short-Term ASM Framework: MPS
Chambal Fertilisers & Chemicals: Promoter Group New India Retailing and Investment bought 1,500 shares on Nov. 10.
Geojit Financial Services: Promoter Group BNP Paribas SA sold 1.1 lakh shares on Nov. 9.
GNA Axles: Promoter Group GNA Gears bought 200 shares between Nov. 3 and Nov. 4.
Dhampur Bio Organics: Promoter Shudh Edible Products bought 57,500 shares between Nov. 9 and Nov. 10.
Pledge Share Details
Emami: Promoter Group Suraj Finvest created a pledge of 26.67 lakh shares on Nov. 9.
Money Market Update
Rupee closed 1.2% higher against the U.S. dollar at 80.82, compared to Wednesday’s close of 81.80.
Nifty November futures ended at 18,439.9, a premium of 347.24 points.
Nifty November futures gained 1.61% and 3,906 shares in Open Interest.
Nifty Bank November futures ended at 42,295, a premium of 563.95 points.
Nifty Bank November futures gained 16.57% and 15,106 shares in Open Interest.