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Coforge Q2 FY24 (Consolidated, YoY)Revenue up 2.48% at Rs 2,276.2 crore vs Rs 2,221 croreEbitda up 14.5% at Rs 263.7 crore vs Rs 230.3 croreMargin at 11.58% vs 10.36%Net profit up 6.94% at Rs 187.9 crore vs Rs 175.7 croreBoard has declared second interim dividend of Rs 19 per shareMaintains annual growth guidance for FY24Revenue in constant currency terms up 2.3% QoQ, Dollar revenue at $278.1 millionLTM attrition at 13%, down 340 bps YoYHeadcount at the end of Q2 at 24,638Q2 order intake at $313 million; signed three large dealsOrder book executable over next 12 months stood at $935 million at the end of Q2Global CuesU.S. Dollar Index at 106.6U.S. 10-year bond yield at 4.95%Brent crude down 0.59% at $90.96 per barrel Nymex crude down 0.27% at $88.08 per barrel GIFT Nifty was down 21.5 points of 0.11% at 19,572 as of 8:05 a.m. Bitcoin was down 0.05% at $28,244.90Asia Stocks Slide, Australian Bonds Join Selloff: Markets WrapTrading TweaksEx/Record Date Dividend: Brand Concepts, Semac Consultants, Tata Consultancy Services.Move in to short term ASM framework: Vakrangee.Move out of short term ASM framework: Bhagiradha Chemicals, EKI Energy Services, Raghav Productivity Enhancers.Adani Ports To Handle 400 MTPA Of Cargo In FY24, Says CEO Subrata TripathiBulk DealsDivgi Torqtransfer Systems: ICICI Prudential Mutual Fund bought 6.23 lakh shares (2.03%) and Motilal Oswal Mutual Fund sold 10.34 lakh shares (3.37%) at Rs 1080 apiece.Gujarat Pipavav Port: Wisdomtree India Investment bought 24.71 lakh shares (0.51%) at Rs 138.23 apiece.Paradip Port To Increase Capacity To 400 MTPA By 2030, Says ChairmanInsider TradesStar Cement: Promoter Laxmi Chamaria sold 2.28 lakh shares from Sep. 26 to Sep. 29.Som Distilleries & Breweries: Promoter Jagdish Kumar Arora and Deepak Arora purchased 10,000 shares each on Oct. 18.GST Intelligence Detects Evasion Of Rs 1.36 Lakh Crore In FY23Pledge Share DetailsPaisalo Digital: Promoters Pro Fitcch and Pri Caf created a pledge of 5 lakh shares each on Aug. 7. Equilibrated Venture Cfow revoked pledge of 9 lakh shares on Oct 16.GPT Infraproject Bags Largest Single Order Of Rs 739 CroreEarnings In FocusHindustan Unilever, ITC, Ultratech Cement, Nestle India, Havells India, Tata Communications, Mphasis, United Breweries, Jindal Stainless, Metro Brands, Coforge, Voltas, Cyient, PVR Inox, Tanla Platforms, Equitas Small Finance Bank, Ramkrishna Forgings, HFCL, Mastek, South Indian Bank, Tata Coffee, Aarti Drugs, Kirloskar Pneumatic, Ganesh Housing Corp, Sagar Cements, Indoco Remedies, Wendt (India), Hatsun Agro Product, Accelya Solutions India, Agro Tech Foods, Updater Services.!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;rOrient Cement Issues Clarification Amid Reports On Stake Sale To AdaniEarnings Post Market HoursBandhan Bank Q2 FY24 (Standalone)Net profit up 3.45 times YoY at Rs 721.16 crore vs Rs 209.27 crore.Net interest income up 11% YoY at Rs 2,443.36 crore vs Rs 2,193 crore.Gross NPA: 7.32% vs 6.76% (QoQ).Net NPA: 2.32% vs 2.18% (QoQ).NIM at 7.2% vs 7.0% (YoY).Persistent System Q2 FY24 (Consolidated, QoQ)Revenue up 3.89% at Rs 2,411.67 crore vs Rs 2,321.17 crore .EBIT up 11% at Rs 330.77 crore vs Rs 297.99 crore.Margin at 13.71% vs 12.83%.Net profit up 15.08% at Rs 263.27 crore vs Rs 228.77 crore. IndusInd Bank Q2 FY24 (Consolidated)Net profit up 22% YoY at Rs 2,202.16 crore vs Rs 1,805.28 crore (Bloomberg estimate: Rs 2,239.65 crore).Net interest income up 18% YoY at Rs 5,076.73 crore vs Rs 4,302.05 crore.Gross NPA at 1.93% vs 1.94% (QoQ).Net NPA at 0.57% vs 0.58% (QoQ).NIM at 4.29% vs 4.24% (YoY).Wipro Q2 FY24 (Consolidated, QoQ)Revenue down 1.39% at Rs 2,2515.9 crore vs Rs 2,2831 crore.Ebit down 11.26% at Rs 3,075.7 crore vs Rs 3,465.6 crore.Margin at 13.66% vs 15.17%.Net profit down 14.41% at Rs 2,267.3 crore vs Rs 2,649.1 crore.UTI Asset Management Company Q2FY24 (Standalone, YoY)Total Income down 1.34% at Rs 311.42 crore vs Rs 315.63 crore.Net profit up 13.53% at Rs 134.42 crore vs Rs 118.4 crore.AUM up 16.89% YoY at Rs 16.89 lakh crore vs 14.45 lakh crore5paisa Capital Q2 FY24 (Standalone, YoY)Revenue up 21.06% at Rs 96.9 crore vs Rs 80.04 crore.Net profit up 76.45% at Rs 19.04 crore vs Rs 10.79 crore. IIFL Finance Q2 FY24 (Standalone, YoY)Total Income up 3.76% at Rs 1,080.53 crore vs Rs 1,041.36 crore.Net profit down 37.99% at Rs 136.7 crore vs Rs 220.47 crore.Loan AUM up 32% YoY at Rs 73,066 crore vs Rs 55,303 crore.Gross NPA at 1.8% vs 1.8%b (QoQ).Net NPA at 1% vs 1.1% (QoQ). Bajaj Auto Q2FY24 (Standalone, YoY)Revenue up 5.63% at Rs 10,777.27 crore vs Rs 10,202.77 crore.Ebitda up 21.27% at Rs 2,132.85 crore vs Rs 1,758.74 crore.Margin at 19.79% vs 17.23%.Net profit up 20% at Rs 1836.14 crore vs Rs 1,530 crore. Titagarh Rail Systems Q2 FY24 (Consolidated, YoY)Revenue up 54.08% at Rs 935.45 crore vs Rs 607.11 crore.Ebitda up 108.97% at Rs 115.08 crore vs Rs 55.07 crore.Margin at 12.3% vs 9.07%.Net profit up 56.9% at Rs 70.59 crore vs Rs 44.99 crore. ICICI Lombard General Insurance Q2 FY24 (YoY)Total Income up 12.22% at Rs 5,049.2 crore vs Rs 4,499.03 crore.Net profit down 2.24% at Rs 577.27 crore vs Rs 590.53 crore.The margin stood at 11.8% versus 11.3%.Claim ratio is 70.7% versus 72.8%. LTIMindtree Q2 FY24 (Consolidated, QoQ)Revenue up 2.33% at Rs 8,905.4 crore vs Rs 8,702.1 crore.Ebit down 1.91% at Rs 1,423.1 crore vs Rs 1,450.8 crore.Margin at 15.98% vs 16.67%.Net profit up 0.86% at Rs 1,162.3 crore vs Rs 1,152.3 crore. RPG Life Sciences Q2 FY24 (YoY) Revenue up 13.94% at Rs 153.58 crore vs Rs 134.79 crore.Ebitda up 25.42% at Rs 37.29 crore vs Rs 29.73 crore.Margin at 24.28% vs 22.05%.Net profit up 29.49% at Rs 25.86 crore vs Rs 19.97 crore. Shoppers Stop Q2 FY24 (Consolidated, YoY)Revenue up 2.6% at Rs 1,039.12 crore vs Rs 1,012.74 crore.Ebitda down 2.19% at Rs 160.92 crore vs Rs 164.52 crore.Margin at 15.48% vs 16.24%.Net profit down 83.14% at Rs 2.73 crore vs Rs 16.2 crore Oracle Financial Services Software Q2 FY24 (Consolidated, QoQ)Revenue down 1.23% at Rs 1,444.48 crore vs Rs 1,462.42 crore.Ebit down 10.6% at Rs 539.1 crore vs Rs 603.01 crore.Margin at 37.32% vs 41.23%.Net profit down 16.67% at Rs 417.44 crore vs Rs 500.98 crore.HUDCO OFS: Government To Exercise Green Shoe Option For Additional 3.5% StakeIPO OfferingsIRM Energy: The IPO was subscribed 1.72 times on day one. The bids were led by non-institutional investors (2.60 times), retail investors (1.79 times), institutional investors (1.07 times) and portion reserved for employees (0.38 times or 38%).IRM Energy IPO Subscribed 1.72 Times On Day OneStocks To Watch: Wipro, Infosys, Tata Steel, Bandhan Bank, ITC, Power Grid, IIFL Finance, Uno Minda, Hudco In FocusBandhan Bank: The lender's head of finance & accounts, Abhijit Ghosh was appointed as the Interim CFO and Key Managerial Personnel of the Bank, with effect from Oct. 20 2023.Wipro: The IT major's board approved the merger of its five wholly owned subsidiaries with itself.GPT Infraprojects: The company received a Rs 739 crore contract to construct the Prayagraj Southern Bypass in Uttar Pradesh.Infosys: The company inked a pact with Google Cloud to provide enterprise solutions for AI-first organisations.Mastek: The company signed digital service contracts with the U.K. government to deliver technical service desks for the One Login Programme.IIFL Finance: The NBFC approved raising funds up to Rs 3,000 crore via equity and convertible instruments.Crompton Greaves: The company appointed D Sundaram as the chairperson. It also appointed Anil Chaudhry and Sanjiv Kakkar as the non-executive independent directors w.e.f. Oct. 17.ITC: The company raised its stake in Delectable Technologies to 39.32% by acquiring an additional 6% stake for Rs 3.5 crore.RPG Lifesciences: The board of directors executed a power delivery agreement with Sunpound Solar, a SPV for the supply of electricity by power producer to the company, by setting up a group captive solar power project in Maharashtra. The company will invest Rs 1.1 crore to subscribe to the 26% share capital of Sunpound Solar.Power Mech Projects: The company's board approved and authorised the opening of the QIP issue on Oct. 18. The floor price is set at Rs 4,085.44 apiece.Tata Steel: NCLT sanctioned the scheme of amalgamation amongst Tata Steel Long Products and Tata Steel.Power Grid: The electrical services company received notification for commercial operation for the Eastern Region Strengthening Scheme XVII (Part-B) project. The project was commissioned with effect from Aug. 8.Alkyl Amines: The newly set-up plant at the existing Kurkumbh site in Maharashtra for enhancing the manufacturing capacity of ethyl amines has successfully commenced commercial production on Oct. 18.Allcargo Logistics: The company reported a 1% decline in LCL volumes year-on-year and a 4% decline quarter-on-quarter for September 2023. Overall muted demand led to a softer print for the quarter, with Q2 FY24 LCL volumes declining 3% year-on-year to 2,294,000 cbm.Coromandel International: The company commissioned a sulfuric acid plant and desalination plant at Visakhapatnam with a production capacity of 1,650 metric tonnes per day. With this, Coromandel’s sulfuric acid capacity will increase to 11 lakh tonne per annum from 6 lakh tonne per annum.HUDCO: The company will exercise the oversubscription option to the extent of 7 crore shares (3.5% stake) in addition to the base offer size. The total offer size is now 14 crore shares, or 7% stake, with 1.4 crore shares reserved for retail investors.Uno Minda: The company received a no-objection letter from NSE and BSE regarding the scheme of amalgamation with Kosei Minda Aluminium Company and Kosei Minda Mould.TV Today: CEO of Tak Channels and Consultant, Vivek Gaur, has tendered his resignation from the company to pursue other opportunities.Power Mech Projects Sets QIP Floor Price At Rs 4,085.44 Per ShareGIFT Nifty Signals Lower Open For BenchmarksAsian markets slide following U.S. peers lower, driven by the increasing tensions in the Middle East.Australian, South Korean and Japanese markets fell, while Chinese and Hong Kong shares also logged losses. Oil steadied after extending its rally in the previous session.Contracts for U.S. equities fluctuated in Asia trading after the S&P 500 slumped 1.3% on Wednesday. Netflix rallied post-market after strong earnings, while the Golden Dragon index, a gauge of Chinese companies listed in the U.S., slid 2.2%.The yield on the 10-year U.S. bond was trading at 4.93%, and Bitcoin was above the $28,000 level. Brent crude was trading below $91 a barrel, whereas WTI crude was above the $88 mark.At 8:05 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India was down 21 points of 0.11% at 19,572.India's benchmark stock indices fell the most in two weeks on Wednesday, led by losses in HDFC Bank Ltd., ICICI Bank Ltd., and Reliance Industries Ltd.Nifty ended below the 19,700 level, while Sensex closed under 65,900—the lowest levels since Oct. 9. On a single-day basis, the indices dropped the most since Sept. 28. Banks and non-banking financial companies fell, whereas the pharma and auto sectors advanced.Overseas investors turned net sellers of Indian equities on Wednesday. Foreign portfolio investors offloaded stocks worth Rs 1,831.8 crore, while domestic institutional investors turned net buyers and mopped up equities worth Rs 1,469.5 crore, the NSE data showed.The Indian rupee closed flat at 83.27 against the U.S dollar on Wednesday.Stock Market Today: All You Need To Know Going Into Trade On Oct. 19IndusInd Bank Q2 Results: Profit Rises 22% On Higher Core Income, Lower Provisions. Read more on Markets by BloombergQuint.
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