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US 10 Year Bond Yield Breaches 5%, Highest In 16 Years!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rGlobal CuesU.S. Dollar Index at 106.3U.S. 10-year bond yield at 4.96%Brent crude up 0.82% at $93.14 per barrel Nymex crude up 1.10% at $90.35 per barrel GIFT Nifty was down 37.5 points of 0.19% at 19,517.5 as of 8:10 a.m. Bitcoin was up 0.05% at $28,742.71Asian Stocks Decline, Yen Approaches Key Level: Markets WrapTrading TweaksPrice band revised from 10% to 5%: Nucleus Software Exports.Price band revised from 20% to 10%: Jai Corp.Move in to short term ASM framework: Polo Queen Industrial and Fintech.Move out of short term ASM framework: Infibeam Avenues, NIIT, Sasken Technologies.Even Musk Admits Cybertrucks Aren’t Driving to Tesla’s RescueBulk DealsDCW: APMS Investment sold while Eriska Investment Fund bought 49.72 lakh shares (1.68%) for Rs 56.25 apiece.Kiri Industries: APMS Investment sold, while Eriska Investment Fund bought 11.40 lakh shares (2.19%) for Rs 270.25 apiece.Air India Express: The Next Big Thing In Indian AviationInsider TradesSom Distilleries: Promoter Deepak Arora purchased 20,000 shares on Oct. 19.IL&FS Transportation Networks To Sell Highway Unit For Rs 1,343 CrorePledge Share DetailsEmami: Promoters Suraj Finvest and Diwakar Finvest revoked pledge of 8.22 lakh and 11 lakh respectively on Oct. 16 and 17.Government Notifies New Licencing Norms For Import Of Laptops, TabletsEarnings In FocusJSW Steel, Hindustan Zinc, One 97 Communications, L&T Finance Holdings, Poonawalla Fincorp, CreditAccess Grameen, Kajaria Ceramics, ATUL, Tejas Networks, Century Textiles & Industries, Jammu & Kashmir Bank, Authum Investment & Infrastructure, Elecon Engineering, KFin Technologies, CSB Bank, ICRA, Butterfly Gandhimathi Appliances, Sasken Technologies, Tanfac Industries, PNB Gilts, Onward Technologies, Central Bank of India, JSW Energy, Justdial, Laurus Labs, Lloyds Engineering Works, CG Power and Industrial Solutions.!function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r=0;rITC Q2 Results: Profit Up 6.1% At Rs 4,955.9 CroreEarnings Post Market HoursITC Q2 (Consolidated, YoY)Revenue up 3.55% at Rs 17,774.45 crore vs. Rs 17,107.99 crore.Ebitda is up 3.11% at Rs 6,454.22 crore vs. Rs 6,259.1 crore.Margin at 36.31% vs. 36.58%, down 27 bpsNet profit is up 6.11% at Rs 4,955.9 crore vs. Rs 4,670.32 crore.HUL Q2 FY24 (Consolidated figures, YoY)Revenue up 3% at Rs 15,623 crore vs. Rs 15,144 crore (Bloomberg estimate: Rs 15,597.48 crore).Ebitda rises 9% to Rs 3,797 crore vs. Rs 3,249 crore (Estimate: Rs 3,619.88 crore).Margin at 24.3% vs. 23% (Estimate: 23.2%)Net profit is flat at Rs 2,657 crore vs. Rs 2,670 crore (Estimate: Rs 2,603.92 crore).Jindal Stainless Q2 FY24 (Consolidated, YoY)Revenue up 11.95% at Rs 9,797.04 crore vs. Rs 8,750.86 crore.Ebitda is up 79.72% at Rs 1,230.57 crore vs. Rs 684.71 crore.Margin at 12.56% vs. 7.82%Net profit is up 120.16% at Rs 764.03 crore vs. Rs 347.02 crore.Cyient Q2 FY24 (Consolidated, QoQ)Revenue up 5.45% at Rs 1,778.5 crore vs. Rs 1,686.5 crore.EBIT is up 4.83% at Rs 260 crore vs. Rs 248 crore.Margin at 14.61% vs. 14.7%Net profit is up 8.57% at Rs 183.6 crore vs. Rs 169.1 crore.Kirloskar Pneumatic Q2 FY24 (YoY)Revenue down 4.5% to Rs 281.92 crore vs. Rs 295.2 crore.Ebitda is down 20.38% at Rs 31.66 crore vs. Rs 39.76 crore.Margin at 11.23% vs. 13.46%Net profit is down 25.83% to Rs 20.18 crore vs. Rs 27.21 crore.HFCL Q2 FY24 (YoY)Revenue down 10.51% at Rs 1,001.76 crore vs. Rs 1,119.35 crore.Ebitda is down 24.71% at Rs 114.25 crore vs. Rs 151.74 crore.Margin at 11.4% vs. 13.55%Net profit is down 10.93% to Rs 67.55 crore vs. Rs 75.84 crore.Ganesh Housing Corp. Q2 FY24 (Consolidated, YoY)Revenue down 50.15% to Rs 163.35 crore vs. Rs 327.67 crore.Ebitda is up 54.23% at Rs 121.43 crore vs. Rs 78.73 crore.Margin at 74.33% vs. 24.02%Net profit is up 345.67% at Rs 86.01 crore vs. Rs 19.299 crore. Accelya Solutions India (Consolidated, QoQ)Revenue up 3.91% at Rs 127.29 crore vs. Rs 122.5 crore.EBIT is down 0.3% at Rs 40.63 crore vs. Rs 40.75 crore.Margin at 31.91% vs. 33.26%Net profit is down 1.8% to Rs 31.53 crore vs. Rs 32.11 crore.Tanla Platform Q2 FY24 (Consolidated, QoQ)Revenue up 10.69% at Rs 1,008.59 crore vs. Rs 911.11 crore.EBIT is up 5.07% at Rs 174.19 crore vs. Rs 165.77 crore.Margin at 17.27% vs. 18.19%Net profit is up 5.27% at Rs 142.54 crore vs. Rs 135.4 crore.Updater Services Q1 FY24 (Consolidated, QoQ)Revenue up 0.83% at Rs 576.44 crore vs. Rs 571.68 crore.EBIT is up 11.07% at Rs 19.25 crore vs. Rs 17.32 crore.Margin at 3.33% vs. 3.02%Net profit is up 28.26% at Rs 12.39 crore vs. Rs 9.66 crore.Havells India Q2 FY24 (Consolidated, YoY)Revenue up 6% at Rs 3,900.33 crore vs. Rs 3,679.49 crore.Ebitda is up 30.15% at Rs 373.35 crore vs. Rs 286.85 crore.Margin at 9.57% vs. 7.79%Net profit is up 33.19% at Rs 249.08 crore vs. Rs 187.01 crore.Hatsun Agro Product Q2 FY24 (YoY)Revenue up 9.02% at Rs 1,905.4 crore vs. Rs 1,747.72 crore.Ebitda is up 23.81% at Rs 218.8 crore vs. Rs 176.71 crore.Margin at 11.48% vs. 10.11%Net profit is up 82.6% at Rs 77.57 crore vs. Rs 42.48 crore.Sagar Cements Q2 FY24 (Consolidated, YoY)Revenue up 23.65% at Rs 586.82 crore vs. Rs 474.55 crore.Ebitda at Rs 60.22 crore vs. Rs 2.41 croreMargin at 10.26% vs. 0.5%Net loss for the period at Rs 10.53 crore vs. loss of Rs 43.53 crore.Tata Coffee Q2 FY24 (Consolidated, YoY)Revenue down 3.11% at Rs 695.95 crore vs. Rs 718.26 crore.Ebitda is up 24.39% at Rs 102.09 crore vs. Rs 82.07 crore.Margin at 14.66% vs. 11.42%Net profit for the period was down 56.64% to Rs 63.7 crore vs. Rs 146.93 crore.Note: PAT is down due to an exceptional gain of Rs 136.7 crore in Q2 FY23.Tata Communications Q2 FY24 (Consolidated, QoQ)Revenue up 2.11% at Rs 4,872.5 crore vs Rs 4,771.36 crore. EBIT is down 7.65% at Rs 410.33 crore vs. Rs 444.29 crore.Margin at 8.42% vs. 9.31%Net profit for the period was down 42.04% to Rs 221.26 crore vs. Rs 381.75 crore.Metro Brands Q2 FY24 (Consolidated, YoY)Revenue up 16.66% at Rs 555.7 crore vs. Rs 476.31 crore.Ebitda is up 12.38% at Rs 165.37 crore vs. Rs 147.15 crore.Margin at 29.75% vs. 30.89%Net profit for the period was down 13.18% to Rs 67.62 crore vs. Rs 77.89 crore.Equitas Small Finance Bank Q2 FY24Net profit for the period was Rs 198.13 crore vs. Rs 116.42 crore, up 70% YoY.NII at Rs 765.59 crore vs. Rs 609.69 crore, up 26% YoY.Gross NPA at 2.27% vs. 2.75% QoQNet NPA at 0.97% vs. 1.18% QoQNIM drops 33 basis points to 8.43% QoQ.United Breweries (Consolidated, YoY)Revenue up 14.13% at Rs 1,890.05 crore vs. Rs 1,682.31 crore.Ebitda is down 16.02% at Rs 184.29 crore vs. Rs 219.42 crore.Margin at 9.75% vs. 13.04%Net profit is down 20.09% to Rs 107.17 crore vs. Rs 134.12 crore.Agro Tech Foods Q2 FY24 (Consolidated, YoY)Revenue down 14.97% at Rs 201.11 crore vs. Rs 236.5 crore.Ebitda is down 18.12% at Rs 8.59 crore vs. Rs 10.49 crore.Margin at 4.27% vs. 4.43%Net profit for the period was down 37.87% to Rs 1.87 crore vs. Rs 3.01 crore.Voltas Q2 FY24 Consolidated YoYRevenue up 29.65% at Rs 2,292.75 crore vs. Rs 1,768.36 crore.Ebitda down 30.32% to Rs 70.26 crore vs. Rs 100.84 crore.Margin at 3.06% vs. 5.7%Net profit for the period was Rs 35.65 crore vs. a loss of Rs 6.04 crore.HUL Q2 Results: Profit Flat, Revenue Up 3% As Volume Growth SlowsIPO OfferingsIRM Energy: The IPO was subscribed to 4.37 times on day two. The bids were led by non-institutional investors (9.09 times), retail investors (4.36 times), institutional investors (1.18 times), and a portion reserved for employees (0.94 times or 94%).Stocks Advance After Powell’s Policy Remarks: Markets WrapStocks To Watch: Tata Motors, Grasim, Tata Steel, Piramal Enterprises, Cyient, RVNL, Tejas Networks, Gati In FocusGrasim Industries: The company received a Rs 141 crore demand notice from the Rajasthan Stamps Collector for non-payment of stamp duty on a scheme of arrangement between Indian Rayon and the company from FY1999.Indoco Remedies: A U.S. FDA inspection at the company’s Solid Oral Formulation facility ended with four observations. The U.S. FDA conducted a pre-approval inspection at the Goa facility from Oct. 12 to 18.Cyient: The company approved the merger of wholly-owned arms Citec Engineering and Cyient Insights. The board also approved an interim dividend of Rs 12 per share.Natco Pharma: U.S. FDA inspection at Natco Pharma's Hyderabad facility ended with eight observations. Inspections were conducted between Oct. 9 to 18.Tata Steel: NCLT approves the merger of Tata Steel and Tata Steel Long Products. Tata Steel is also set to acquire a 26% stake in unit TP Vardhaman Surya for Rs 1.3 lakh.RVNL: RVNL JV gets a Rs 174.27 crore contract from the Vadodara Division of Western Railway for civil engineering works in Gujarat. The project is to be executed in 24 months.Gulf Oil: The company and S-Oil Seven inked a pact to expand business in India. In this partnership, Gulf Oil will oversee the production, distribution, and promotion of OEMs like the KIA India dealer network. Gulf also has the exclusive rights to manufacture and distribute the S-OIL SEVEN range throughout its network.Gati: Registrar of Companies approves the name change of Gati to Allcargo Gati, effective Oct. 19.Tejas Networks: The company received an order worth Rs 107.73 crore from TCS to supply equipment for BSNL’s Pan-India 4G and 5G networks.Tata Motors: The company signed a Securities Subscription Agreement for acquiring a 26.79% stake in Freight Tiger for Rs 150 crore. SSA includes provisions allowing the company to invest an additional Rs 100 crore over the next two years.Elecon Engineering: The company got an order for supply and supervision of a pipe conveyor system from Arcelormittal Nippon Steel India worth Rs 51.41 crore.Vakrangee: The company has partnered with Karnataka Bank Ltd. to provide BC Banking services from Vakrangee Kendra outlets across Pan India.Piramal Enterprises: Company's board will meet on Oct. 24 to consider and approve the issuance of non-convertible debentures on a private placement basis.CCL Products: NCLT has sanctioned the scheme of arrangement between Continental Coffee Pvt. (the demerged company) and CCL Products (India) (the resulting company).PTC India: The board approved the sale of unit PTC Energy to ONGC for Rs 925 crore.Tata Motors To Acquire 27% Stake In Freight Tiger For Rs 150 CroreGIFT Nifty Signals Lower Open For BenchmarksAsian stocks fell as volatility gripped global markets from an escalation in tensions in the Middle East, driving oil to further advances.MSCI’s Asia Pacific Index slid 0.9% as benchmarks in Australia, Japan and China slipped, while contracts for U.S. equities fell after the S&P 500 declined on Thursday.After multiple twists and turns on Thursday, the S&P 500 notched its third straight loss, weighed by disappointing Tesla Inc. earnings.The yield on the 10-year U.S. bond was trading at 4.98%, and Bitcoin was above the $28,000 level. Brent crude was trading below $93 a barrel, whereas WTI crude was above the $90 mark.At 8:10 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was down 37.5 points of 0.19% at 19,517.5.India's benchmark stock indices declined on Thursday before paring some losses to close lower for the second consecutive day. The metals and energy sectors declined, whereas auto and consumer durables advanced. Nifty ended below the 19,700 level, whereas Sensex closed below the 65,700 mark. The indices closed at the lowest level since Oct. 9.Overseas investors became net sellers of Indian equities on Thursday. Foreign portfolio investors offloaded stocks worth Rs 1,093.5 crore, while domestic institutional investors turned net buyers and mopped up equities worth Rs 736.2 crore, the NSE data showed.The Indian rupee strengthened 3 paise to close at 83.24 against the U.S. dollar on Thursday.Stock Market Today: All You Need To Know Going Into Trade On Oct. 20PTC India Approves ONGC Bid To Acquire Wind Power Unit For Rs 925 Crore. Read more on Markets by BloombergQuint.
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