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Stock Market Today: All You Need To Know Going Into Trade On Oct. 31

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

<div class="paragraphs"><p>(Source: Unsplash)</p></div>
(Source: Unsplash)

Asian stocks gained while US equity futures treaded lower at the start of the week as investors await interest rate decisions from central banks including the Federal Reserve.

Shares climbed in Japan, South Korea and Australia, while contracts for Hong Kong advanced earlier after stocks on Wall Street rallied Friday. The U.S. Dollar made little advances against most major currencies, indicating a caution among traders.

Meanwhile, U.S. stocks rose as Apple Inc.’s earnings report buoyed technology shares. Treasuries snapped a three-day rally as investors expect a further hike by the Federal Reserve.

The S&P 500 and the tech-heavy Nasdaq 100 recorded their longest weekly rising streak since August as big tech companies like Microsoft Corp. and Google parent Alphabet Inc. gained. Elsewhere, oil rallied as U.S. fuel stockpiles dropped and exports rose to a record, pointing to a robust demand despite fears of a global slowdown. Gold fell and Bitcoin remained near $20,000.

Back home, India's stock benchmarks gained for second week in a row, aided by gains in PSU banks, auto, energy and realty stocks, amid a slew of the earnings.

The local currency rose 22 paise.

At 6:38 a.m., the Singapore-traded SGX Nifty -- an early barometer of India's benchmark Nifty 50 -- gained 1.08% to 18,028.

Stock Market Today: All You Need To Know Going Into Trade On Oct. 31

Earnings Post Market Hours

Vedanta Q2 FY23 (Consolidated, QoQ)

  • Revenue fell 5% at Rs 36,654 crore Vs Rs 38,622 crore (Bloomberg estimate: Rs 34,758.6 crore)

  • EBITDA fell 24.5% at Rs 7,699 crore Vs Rs 10,197 crore (Bloomberg estimate: Rs 7,797.3 crore)

  • EBITDA margin 21% Vs 26%

  • Net profit fell 59% at Rs 1,808 crore Vs Rs 4,421 crore (Bloomberg estimate: Rs 2,036.2 crore)

Dr. Reddy's Laboratories Q2 FY23 (Consolidated, YoY)

  • Revenue down 9% at Rs 6,332 crore Vs Rs 5,787 crore (Bloomberg estimate: Rs 5,805 crore)

  • EBITDA up 40% to Rs 1,901 crore from Rs 1,360 crore (Bloomberg estimate: Rs 1,239 crore)

  • EBITDA margins at 30% Vs 23.5% (Bloomberg estimate: 21.3%)

  • Net profit up 12% to Rs 1,114 crore Vs Rs 996 crore (Bloomberg estimate: Rs 761 crore)

JSW Energy Q2 FY23 (Consolidated, QoQ)

  • Revenue fell 21% at Rs 2,387.5 crore vs Rs 3,026 crore (Bloomberg estimate: Rs 2,711.8 crore)

  • EBITDA fell 13% at Rs 889.7 crore vs 1,022 (Bloomberg estimate: Rs 875 crore)

  • EBITDA margin: 37.3% vs 33.8%

  • Net profit fell 18% at Rs 456.7 crore vs Rs 555 crore (Bloomberg estimate: Rs 650 crore)

Tata Power Q2 FY23 (Consolidated, QoQ)

  • Revenue fell 3.2% at Rs 14,030.7 crore Vs Rs 14,495.5 crore (Bloomberg estimate: Rs 13,082.30 crore)

  • EBITDA up 5% at Rs 1,760.4 crore vs 1,683.3 crore (Bloomberg estimate: Rs 1,953.1 crore)

  • EBITDA margin: 12.5% vs 11.61%

  • Net profit up 6% at Rs 935.2 crore Vs Rs 883.54 crore (Bloomberg estimate: Rs 813.6 crore)

CCL Products (India) Q2 FY23 (Consolidated, YoY)

  • Revenue up 50% at Rs 507 crore Vs Rs 337 crore

  • EBITDA up 18% at Rs 97.47 crore Vs Rs 82.29 crore

  • EBITDA margin 19% Vs 24%

  • Net profit up 17% at Rs 57.78 crore Vs Rs 49.34 crore

Blue Dart Express Q2 FY23 (Consolidated, QoQ)

  • Revenue up 2% at Rs 1,325 crore Vs Rs 1,293 crore

  • EBITDA fell 9% at Rs 243 crore Vs Rs 267 crore

  • EBITDA margin 18% Vs 21%

  • Net profit fell 7% at Rs 37.49 crore Vs Rs 40.17 crore

Sona BLW Precision Forgings Q2 FY23 (Consolidated, YoY)

  • Revenue up 13% at Rs 653 crore Vs Rs 577 crore

  • EBITDA up 11% at Rs 161.20 crore Vs Rs 145.7 crore

  • EBITDA margin flat at 25%

  • Net profit up 5% at Rs 92.5 crore Vs Rs 88.2 crore

Stocks To Watch

  • Hero MotoCorp: The two-wheeler manufacturer registered retail growth of 20% during the festive period this year over the corresponding period of last year.

  • Steel Authority of India: The company signed an agreement with Airport Authority of India to facilitate commercial operations at Rourkela airport under RCS UDAN scheme.

  • Astec Lifesciences: The company appointed Madhur Gundecha as the Chief Financial Officer, with effect from Oct. 28, 2022.

  • Vedanta: The board approved the expansion of rolled product capacity at subsidiary Bharat Aluminium Company to 180 KTPA from existing 50 KTPA at a revised cost of Rs 595 crore, and expansion of its smelter capacity to 994 KTPA from existing capacity of 580 KTPA at a revised cost of Rs 8,094 crore.

  • Solar Industries: The board of the company will consider on Nov. 4 the offer, issue and allotment of unsecured redeemable NCDs of up to Rs 100 crore on private placement basis, in one or more tranches.

  • Tata Power: The company appointed former finance secretary Rajiv Mehrishi as an independent director.

Offerings

  • DCX Systems: The Rs 500-crore initial public offering will open in Oct. 31 and continue till Nov. 2. The issue comprises fresh issue of Rs 400 crore and offer for sale worth Rs 100 crore. The price band for the IPO has been pegged at Rs 197-207 per share. The company has raised Rs 225 crore from anchor investors, including Motilal Oswal, HDFC, BNP Paribas, Quantum State Investment and India SME Investments.

Earnings

Tata Steel, Larsen & Toubro, Bharti Airtel, Supreme Industries, Motherson Sumi Wiring India, Castrol India, Timken India, Asahi India Glass, LT Foods, Data Patterns (India), Equitas Small Finance Bank, GHCL, Saregama India, TCI Express

Who’s Meeting Whom

  • KEC International: To meet investors and analysts on Nov. 8.

  • Matrimony.com: To meet investors and analysts on Nov. 10.

  • Ujjivan Small Finance Bank: To meet investors and analysts on Nov. 7.

  • Pricol: To meet investors and analysts on Nov. 10.

  • Lupin: To meet investors and analysts on Nov. 10.

  • Bharat Electronics: To meet investors and analysts on Oct. 31.

  • Greenply Industries: To meet investors and analysts on Nov. 7.

  • EIH: To meet investors and analysts on Nov. 3.

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

  • Triveni Turbine: To meet investors and analysts on Nov. 3.

  • Elgi Equipments: To meet investors and analysts on Nov. 7.

  • Data Patterns (India): To meet investors and analysts on Nov. 1.

  • Ajanta Pharma: To meet investors and analysts on Nov. 3.

  • Varun Beverages: To meet investors and analysts on Nov. 1.

  • Hero Motocorp: To meet investors and analysts on Nov. 4.

Trading Tweaks

  • Ex-Date Interim Dividend: Sasken Technologies, Gujarat Fluorochemicals, KPI Green Energy, ICICI Securities, DCM Shriram, Colgate Palmolive, Symphony, Sonata Software, Asian Paints, Nestle India, Hindustan Unilever, Birlasoft, NACL Industries, Indian Metals & Ferro Alloys

  • Ex-Date Dividend: Embassy Office Parks REIT

  • Ex-Date Face Value Split: TD Power Systems

  • Record-Date Interim Dividend: IIFL Wealth Management, KPI Green Energy

  • Move Into Short-Term ASM Framework: Rajratan Global Wire

Insider Trades

  • KPI Green Energy: Promoter & Director Farukbhai Gulambhai Patel bought 850 shares on Oct. 27.

Pledge Share Details

  • Max Financial Services: Promoter Max Ventures Investment Holdings created a pledge of 8.96 lakh shares and revoked a pledge of 12.55 lakh shares on Oct. 28.

  • Coffee Day Enterprises: Promoter V.G.Siddhartha invoked a pledge of 15.64 lakh shares between Oct. 20 and Oct. 19, Promoter Group Coffee Day Consolidations invoked a pledge of 24,935 shares on Oct. 20.

Insider Trades

  • KPI Green Energy: Promoter & Director Farukbhai Gulambhai Patel bought 10,000 shares on Oct. 25.

Money Market Update

Rupee closed at 82.47 against the dollar, compared to the Thursday close of 82.50.

F&O Cues

  • Nifty October futures ended at 17,837.00, a premium of 47.80 points.

  • Nifty October futures gained 2.65% and 5,802 shares in Open Interest.

  • Nifty Bank October futures ended at 41,160.00, a discount of 323.15 points.

  • Nifty Bank October futures gained 8.04% and 5,376 shares in Open Interest.

  • Securities in the ban list: None.

Stock Market Today: All You Need To Know Going Into Trade On Oct. 31

Source: BSE, NSE, Bloomberg