Stock Market Today: All You Need To Know Going Into Trade On Oct. 20

Asian stocks followed Wall Street lower amid Treasury yields at multiyear highs and strong inflation that’s driving hawkish monetary policy.

Shares opened lower in Japan, South Korea and Australia while futures for Hong Kong fell.

India benchmarks gauges registered marginal gains as utilities, information technology, metals and power stocks countered the gains in FMCG, realty and energy stocks.

Rupee tested new record low of 83 against the U.S. dollar after wiping gains from early trade. At 6:53 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- fell 0.69% to 17,384.

Earnings Post Market Hours

IndusInd Bank Q2 FY23 (Consolidated)

• Net profit: Rs 1,805.22 crore vs Rs 1,147 crore (YoY)

• NII: Rs 4,302 crore vs Rs 3,658 crore (YoY)

• GNPA: 2.11% vs 2.35% (QoQ)

• NNPA: 0.61% vs 0.67% (QoQ)

IIFL Wealth Management Q2 FY23 (Consolidated, QoQ)

• Revenue up 10% at Rs 505 crore Vs Rs 461 crore (Bloomberg estimate: Rs 394.90 crore)

• EBITDA up 13% at Rs 317.03 crore Vs Rs 280.72 crore (Bloomberg estimate: 213.10 crore)

• EBITDA margin 63% Vs 61% (Bloomberg estimate: 54%)

• Net profit up 11% at Rs 174.37 crore Vs Rs 156.58 crore (Bloomberg estimate: Rs 175.90 crore)

Home First Finance Company Q2 FY23 (Consolidated)

• Net interest income up 46% at Rs 101.56 crore Vs Rs 69.74 crore (YoY)

• Net profit up 21% at Rs 54.27 crore Vs Rs 44.86 crore (YoY)

• GNPA 19.93%

• NNPA 1.43%

Havells India Q2 FY23 (Consolidated, YoY)

• Revenue up 14% at Rs 3,679 crore Vs Rs 3,238 crore (Bloomberg estimate: Rs 3,494.20 crore)

• EBITDA fell 36% at Rs 286.85 crore Vs Rs 444.97 crore (Bloomberg estimate: Rs 389.90 crore)

• EBITDA margin 8% Vs 14% (Bloomberg estimate: 11.20%)

• Net profit fell 38% at Rs 187.01 crore Vs Rs 302.39 crore (Bloomberg estimate: Rs 262.75 crore)

Navin Fluorine International Q2 FY23 (Consolidated, YoY)

• Revenue up 24% at Rs 419 crore Vs Rs 339 crore (Bloomberg estimate: Rs 450.05 crore)

• EBITDA up 11% at Rs 93.83 crore Vs Rs 84.19 crore (Bloomberg estimate: Rs 112.07 crore)

• EBITDA margin 22% Vs 25% (Bloomberg estimate: 24.9%)

• Net profit fell 9% at Rs 57.81 crore Vs Rs 63.23 crore (Bloomberg estimate: 81.65 crore)

Hatsun Agro Product Q2 FY23 (Consolidated, YoY)

• Revenue up 7% at Rs 1,748 crore Vs Rs 1,628 crore

• EBITDA fell 18% at Rs 176.71 crore Vs Rs 215.28 crore

• EBITDA margin 10% Vs 13%

• Net profit fell 48% at Rs 42.48 crore Vs Rs 82.09 crore

Nippon Life India Asset Management Q2 FY23 (Consolidated, QoQ)

• Revenue up 5% at Rs 332 crore Vs Rs 316 crore

• EBITDA up 8% at Rs 193.52 crore Vs Rs 179.07 crore

• EBITDA margin 58% Vs 57%

• Net profit up 81% at Rs 206.04 crore Vs Rs 114.08 crore

• Declared interim dividend of Rs 4 per share of face value of Rs 10 each

Max Financial Services Q2 FY23 (Consolidated, QoQ)

• Revenue up 3x at Rs 9,316 crore Vs Rs 3,272 crore

• EBITDA fell 10% at Rs 77.97 crore Vs Rs 86.75 crore

• EBITDA margin 1% Vs 3%

• Net profit fell 9% at Rs 51.29 crore Vs Rs 56.36 crore

Shoppers’ Stop Q2 FY23 (Consolidated, QoQ)

• Revenue up 7% at Rs 1,013 crore Vs Rs 948 crore

• EBITDA up 2% at Rs 165.24 crore Vs Rs 162.5 crore

• EBITDA margin 16% Vs 17%

• Net profit fell 29% at Rs 16.2 crore Vs Rs 22.83 crore

Rallis India Q2 FY23 (Consolidated, YoY)

• Revenue up 31% at Rs 951 crore Vs Rs 728 crore

• EBITDA up 34% at Rs 117.61 crore Vs Rs 87.97 crore

• EBITDA margin flat at 12%

• Net profit up 26% at Rs 71.05 crore Vs Rs 56.44 crore

Persistent Systems Q2 FY23 (Consolidated, QoQ)

• Revenue up 52% at Rs 2,049 crore Vs Rs 1,351 crore

• EBITDA up 59% at Rs 298.65 crore Vs Rs 187.3 crore

• EBITDA margin 15% Vs 14%

• Net profit up 36% at Rs 220.01 crore Vs Rs 161.75 crore

Oracle Financial Services Q2 FY23 (Consolidated, QoQ)

• Revenue fell 2% at Rs 1,376 crore Vs Rs 1,402 crore

• EBITDA fell 12% at Rs 566.87 crore Vs Rs 647.43 crore

• EBITDA margin 41% Vs 46%

• Net profit fell 19% at Rs 397.75 crore Vs Rs 491.75 crore

DCM Shriram Q2 FY23 (Consolidated, YoY)

• Revenue up 32% at Rs 2,875 crore Vs Rs 2,178 crore

• EBITDA fell 7% at Rs 269.96 crore Vs Rs 290.15 crore

• EBITDA margin 9% Vs 13%

• Net profit fell 19% at Rs 128.12 crore Vs Rs 157.87 crore

• Declared interim dividend of Rs 4.6 per share of face value of Rs 2 each

AU Small Finance Bank Q2 FY23 (Consolidated)

• Net interest income up 44% at Rs 1,083.34 crore Vs Rs 753.13 crore (YoY)

• Net profit up 23% at Rs 342.59 crore Vs Rs 278.51 crore (YoY)

• GNPA 1.90% Vs 1.96% (QoQ)

• NNPA flat at 0.56% (QoQ)

• Jindal Steel & Power: The company signed an MoU with Greenko Group to facilitate 1,000 MW of carbon-free energy for its steel-making operations at Angul, Odisha. The project will cut down carbon dioxide emissions by approximately 7 million tonnes.

• Adani Enterprises: Vishvapradhan Commercial, the company’s indirect subsidiary, in a letter to SEBI reaffirmed its commitment to its commitment to complete the NDTV open offer. It asked the regulator for observations on the open offer.

• Metro Brands/Cravatex: The company acquired Cravatex Brands, a retail, brand licensing, distribution and sourcing company that has the exclusive long‐term license for the Italian sportswear brand FILA, owns sportwear brand Proline, and represents other international brands, for Rs 202.17 crore to expand its presence in the sports and athleisure space in India.

• Lupin: The USFDA issued a Form 483 with seventeen observations after a prior-approval inspection at the company’s manufacturing facility in Pune, conducted in October 2022.

• NLC India: The company signed a power purchase agreement with Kerala State Electricity Board for procuring 400 MW from the upcoming NLC Talabira Thermal Power Project of 2,400 MW capacity at Talabira, Odisha. It also signed an MoU with National Institute of Wind Energy, an autonomous R&D institution under the Ministry of New and Renewable Energy, for strategic collaboration in developing onshore and offshore wind power projects in India.

• Kotak Mahindra Bank: At its meeting on Oct. 22, the board of the bank will consider a proposal for raising of funds via listed, redeemable, unsecured non-convertible debentures in one or more tranches on a private placement basis.

• Bharat Electronics: Triton Electric Vehicle India, a part of U.S.-based Triton Electric Vehicle LLC, issued a letter of intent to the company for procurement of 300 KW li-ion battery packs for its semi-truck project in India at an estimated value of Rs 8,060 crore. The company has also signed an MoU with Triton Electric Vehicle to manufacture hydrogen fuel cells, with technology transfer from the latter.

• Exide Industries: The company has subscribed compulsory convertible preference shares of its subsidiary Exide Leclanche Energy worth Rs 25 crore, taking its CCPS shareholding in the JVC to 100%. The equity shareholding with voting rights the company in the JVC remains unchanged at 84.90%.

• IRB Infrastructure Developers: The company has completed equity raise of Rs 533.20 crore for its Ganga Expressway Project. Singapore-based GIC Affiliates contributed Rs 261.29 crore and the company contributed Rs 271.90 crore. The company will hold 51% stake in the project while GIC Affiliate will hold 49%.

• Adani Ports and Special Economic Zone: The board of the company approved allotment of 4.78 crore shares of face value Rs 2 each to eligible shareholders of Gangavaram Port.

• Manorama Industries: India Ratings and Research has revised the company’s outlook to positive from stable, while affirming its long-term issuer rating at ‘IND BBB+’.

• Subex: CRISIL Ratings has downgraded the corporate credit rating of the company to CCR BBB+/Negative from CCR A-/Stable.

• CG Power and Industrial Solutions: The board approved the draft scheme of arrangement between the company and its shareholders for a proposed of Rs 400 crore from the credit balance lying in general reserves to the retained earnings account to offset accumulated losses.

• Dynamatic Technologies: The company completed the first F-15 jet former assemblies for Boeing. This is the first aero-structure for the latest F-15 aircraft to be manufactured in India.

• JK Paper: Crisil upgraded its rating on the company’s long-term borrowing facilities to ‘CRlSlL AA/Stable’ from ‘CRlSlL AA-/Stable’.

• Life Insurance Corporation of India: The corporation diluted its shareholding in NHPC to 5.203% from 7.230%. The board of LIC also approved infusion of equity capital of LKR 600 million (Rs 13.20 crore) in LIC (Lanka) Ltd.

• Delhivery: Q2 Business Update

- Consumer discretionary spending remained muted due to high levels of inflation

- Express parcel volumes remained stable in and picked up by the end of September 2022.

- Part truckload business on the path to recovery after disruptions in quarter ended June 2022.

- Volumes in supply chain services and truckload businesses declined sequentially.

- The company expects improvement in volumes, revenue and service margins going forward.

• Tracxn Technologies: The shares of the company will be listed on BSE and NSE on Oct. 20. The initial share sale of the company saw 2.01 times subscription.

ITC, Colgate Palmolive, Aarti Drugs, Aavas Financiers, Asian Paints, Axis Bank, Bajaj Finance, Canara Bank, Central Bank of India, Clean Science & Technology, Coforge, Colgate Palmolive, Cigniti Technologies, Zensar Technologies, UTI Asset Management Company, Union Bank of India, United Breweries, Tata Consumer Products, Tanla Platforms, Symphony, Steel Strip Wheels, Shriram Transport Finance, Nazara Technologies, Mphasis, Meghmani Finechem, Mastek, Lakshmi Machine Works, L&T Finance Holding, KEI Industries, Jubilant Ingrevia, ICICI Securities, IndiaMart InterMesh, Indian Energy Exchange, ICRA, Happiest Mind Technologies, IIFL Securities, Nelco, Granules India, Dhampur Sugar Mills, Eris Lifesciences, Embassy Office Parks REIT, Dixon Technologies

• Maruti Suzuki India: To meet investors and analysts on Sept. 28.

• Dhampur Sugar Mills: To meet investors and analysts on Oct. 21.

• Vedanta: To meet investors and analysts on Sept. 28.

• Equitas Small Finance Bank: To meet investors and analysts on Oct. 31.

• DLF: To meet investors and analysts on Oct. 22.

• V.I.P Industries: To meet investors and analysts on Oct. 21.

• Chalet Hotels: To meet investors and analysts on Oct. 21.

• Jammu & Kashmir Bank: To meet investors and analysts on Oct. 21.

• Kewal Kiran Clothing: To meet investors and analysts on Oct. 21.

• SBI Cards and Payment Services: To meet investors and analysts on Oct. 27.

• Godrej Properties: To meet investors and analysts on Nov. 9.

• Ex-Date Interim Dividend: Angel One, Anand Rathi Wealth, Jai Corp

• Record-Date Interim Dividend: HCL Technologies

• Record-Date Spin Off: Aarti Industries

Bajaj Electricals: Promoter Group Pooja Bajaj revoked a pledge of 13.16 lakh shares on Sept. 9.

• Nifty October futures ended at 17,506.1, a premium of 4.1 points.

• Nifty October futures shed 3.7% and 8,482 shares in Open Interest.

• Nifty Bank October futures ended at 40,422, a premium of 41.9 points.

• Nifty Bank October futures shed 2.7%, 1,814 shares in Open Interest.

• Securities in the ban list: Indiabulls Housing Finance, Delta Corp, India Cements, BHEL, Zee Entertainment

• Securities added to ban list: Nil

The rupee closed at 82.99 against the U.S. dollar on Wednesday, compared to 82.36 close on Tuesday.

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