Stock Market Today: All You Need To Know Going Into Trade On Oct. 13
Stocks in the news, big brokerage calls of the day, complete trade setup and much more!
US equity futures and Australian shares climbed while Japanese stocks opened lower in mixed, cautious trading as investors await highly anticipated inflation data later Thursday.
The support for US equities followed the sixth consecutive decline for the S&P 500, which fell to the lowest level since November 2020. Hong Kong equity futures fell, underscoring the cautious mood. The dollar held on to recent gains and the yen tumbled to a fresh 24-year low that puts traders on watch for intervention from Japan. Treasuries rallied.
At 7:20 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.35% to 17,043.
West Texas Intermediate crude was little changed at $87.27 per barrel. Bitcoin was little changed at $19,162.42.
Earnings Post Market Hours
Wipro Q2 FY23 (Consolidated, QoQ)
Revenue up 5% at Rs 22,540 crore Vs Rs 21,529 crore (Bloomberg Estimate: Rs 22,615.14 crore)
EBIT up 2% at Rs 3,144.60 crore Vs Rs 3,086 crore (Bloomberg Estimate: Rs 3,427 crore)
EBIT margin 13.95% Vs 14% (Bloomberg Estimate: 15%)
Net profit up 4% at Rs 2,659 crore Vs Rs 2,564 crore (Bloomberg Estimate: 2,845 crore)
HCL Tech Q2 FY23 (Consolidated, QoQ)
Revenue up 5% at Rs 24,686 crore Vs Rs 23,464 crore (Bloomberg Estimate: Rs 24,513.35 crore)
EBIT up 11% at Rs 4,427 crore Vs Rs 3,992 crore (Bloomberg Estimate: Rs 4,291.83 crore)
EBIT margin 18% Vs 17% (Bloomberg Estimate: 17.51%)
Net profit up 6% at Rs 3,489 crore Vs Rs 3,283 crore (Bloomberg Estimate: 3,415.11 crore)
Stocks To Watch
Adani Ports and Special Economic Zone: The company received letter of award from West Bengal Industrial Development Corporation Ltd. for development of deep-sea port at Tajpur, West Bengal on design, build, finance, operate and transfer basis.
Kirloskar Industries: SAT proceedings show that the tribunal dismissed appeal by the company against a SEBI order to pay a penalty of Rs 5 lakh for violating listing regulations.
PVR/Inox Leisure: PVR shareholders and secured creditors have approved the merger of the company with rival Inox Leisure.
InterGlobe Aviation: The airline will ‘wet lease’ up to four wide-body Boeing 777 aircraft on interim basis to cover the shortfall in its international operations, PTI reported.
Indian Oil Corporation/Bharat Petroleum Corporation: The Union Cabinet granted a relief package worth Rs 22,000 crore for state-run OMCs to offset the losses on account of rising LPG prices due to surging global oil prices.
Coal India/BHEL/IOCL/GAIL/NLC India: Coal India signed three separate MoUs with Bharat Heavy Electricals Ltd., Indian Oil Corporation Ltd. and GAIL (India) Ltd. to set up coal gasification projects, while NLC India Ltd. is signing a separate MoU with BHEL for the same, according to a government statement.
Reliance Power: The company and its subsidiaries signed executive documents to raise Rs 1,000 crore via debt from Varde Partners, which will be used for debt resolution.
NTPC: The company signed an MoU with Siemens for demonstrating hydrogen co-firing blended with natural gas in Faridabad gas power plant.
Steel Authority of India: DIPAM has annulled the proposed strategic sale of Bhadravathi-based Visvesvaraya Iron and Steel Plant, a unit of the company, due to insufficient bidder interest, a government statement read.
Suven Life Sciences: The board of the company approved the terms for its upcoming rights issue. The company will issue 7.27 crore shares aggregating to Rs 399.80 crore at a price of Rs 55 apiece. The company will issue one rights share for every two shares held by eligible shareholders.
Adani Wilmar: Overall revenue is expected to see low single digit growth in the quarter ended Sept. 30, 2022, according to the company's update. Food and FMCG vertical registered 40% growth on the back of pan-India edible oil business. Edible oil business registered higher volume growth in the masstige category. Industry Essential business also grew 20% during the quarter.
Maharashtra Seamless: To consider bonus and stock split on Oct. 17.
Tracxn Technologies: The issue was subscribed 2.01% on its final day. The retail portion of the issue saw the most demand and was subscribed 4.87 times. The QIB portion was subscribed 1.66 times, while non-institutional investors picked up 0.80 times of the portion reserved for them.
Amber Enterprises India: ICICI Prudential Life Insurance Company sold 1.83 lakh shares (0.54%) at Rs 2,284.54 apiece.
Who’s Meeting Whom
Federal Bank: To meet investors and analysts on Oct. 14.
Action Construction Equipment: To meet investors and analysts on Oct. 13.
Jubilant Ingrevia: To meet investors and analysts on Oct. 20.
Mahindra CIE Automotive: To meet investors and analysts on Oct. 18.
Shoppers Stop: To meet investors and analysts on Oct. 20.
Indbank Merchant Banking Services: To meet investors and analysts on Oct. 18.
Ex-Date Income Distribution: India Infrastructure Trust
Move Into Short-Term ASM Framework: Everest Industries, Aptech
Money Market Update
The rupee saw marginal gains against the U.S. dollar before closing at 82.31 on Wednesday, against the Tuesday close of 82.32.
Nifty October futures ended at 17,121, a discount of 2.6 points.
Nifty October futures shed 0.96% and 2,565 shares in Open Interest.
Nifty Bank October futures ended at 39,258.20, a premium of 139.65 points.
Nifty Bank October futures added 5.59%, 4,313 shares in Open Interest.
Securities in the ban list: Indiabulls Housing Finance, Delta Corp
Securities removed from the ban list: India Cements