← Go back Oct 10, 2023
Sensex, Nifty Trade Near Day's Low As TCS, Infosys Drag; Metals Decline: Midday Market UpdateIndia's benchmark stock indices declined through midday on Monday following weak Asian cues. Media, metal and realty sectors declined, whereas, non-banking financial companies were marginally up. Nifty was trading below 19,500 level, while Sensex was below 65,300 mark. "Asian shares drifted lower on Monday as the risk of a broader conflict in the Middle East clouded sentiment in a week loaded with data on US growth and inflation and earnings from some of the world's largest tech companies. Taking cues from the Gift Nifty, the Indian markets opened in negative territory. The zone of 19,990-19,850 is anticipated to act as a relatively stronger supply zone while the 50DMA trading near 19,620 acts as overhead resistance as the uptrend now remains under pressure until the supply zone is decisively reclaimed on a closing basis.” said, Avdhut Bagkar Technical and Derivatives Analyst, StoxBox.As of 12:20 p.m., the S&P BSE Sensex was down 192 points, or 0.29%, at 65,205.80, while the NSE Nifty 50 was 77 points or 0.39% lower at 19,465.55.U.S. and European equity futures gained as investors dialed back hedges put on before the weekend against an escalation of the Middle-East conflict. Gold and crude oil dropped as haven demand waned.Asian stocks dropped from the open, following Friday’s losses on Wall Street. Japanese, Chinese, Australian and South Korean markets fell. The S&P 500 on Friday broke the 200-day moving average — seen by some as a bearish signal — and the VIX, Wall Street’s “fear gauge,” jumped to its highest since March. !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;r!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;r!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;r!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;rTata Consultancy Services Ltd., Infosys Ltd., Larsen & Toubro Ltd., Adani Enterprises Ltd., and Axis Bank Ltd. were negatively adding to the change in the Nifty 50 Index. Whereas, ICICI bank Ltd., HDFC Bank Ltd., Bajaj Finance Ltd., IndusInd Bank Ltd., and Britannia Industries Ltd. were positively contributing to the change. !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;rThe broader market indices underperformed larger peers; the S&P BSE MidCap Index was down 1.27%, whereas S&P BSE SmallCap Index was also 2.42% lower.All the 20 sectors compiled by BSE declined. S&P BSE Telecommunication and S&P BSE Realty fell the most. The market breadth was skewed in the favour of the sellers. About 793 stocks rose, 2,857 declined, while 178 remained unchanged on the BSE.Bharat Electronics Has 10.7 Lakh Shares Change Hands About 10.7 lakh shares changed hands in a large trade.0.014% equity changed hands at Rs 133.40 apiece. Buyers and sellers not known immediately.Source: BloombergLaurus Labs Shares Tumble Nearly 9% As Q2 Profit Misses EstimatesShares if Laurus Labs Ltd. fell the most in over two months since Aug. 3, 2023 after its second quarter profit slumped, missing analysts' estimates. But the management believes that the company is on the road to recovery.Net profit of the Hyderabad-based pharma and biotech company fell 84% year-on-year to Rs 37 crore in the quarter ended September, according to its exchange filing. That compares with the Rs 97 crore consensus estimate of analysts tracked by Bloomberg.Sequentially, the profit rose 49%.Laurus Labs Q2 Highlights (YoY)Revenue declined 22% to Rs 1,224 crore (Bloomberg estimate: Rs 1,354 crore).Operating profit down 58% at Rs 188 crore (Bloomberg estimate: Rs 267 crore).Operating margin stood at 15.3% versus 28.5% a year ago (Bloomberg estimate: 19.7%).!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;rAmber Enterprises Shares Fall Over 10% As Q2 Loss Widens Shares of Amber Enterprises India Ltd. tumbled over 10% after its net loss widened in the July to September quarter of the fiscal 2024. The company reported a net loss of Rs 5.65 crore on a year-over-year basis in the July to September quarter, according to an exchange filing. This compares to a net loss of Rs 2.29 crore in the same quarter of the previous financial year.However, company's revenue and operating profit grew in the said quarter. "Our component strategy which led to product mix change has helped to improve margins during the quarter despite weak demand in refrigeration and air conditioning (RAC) segment owing to unseasonal weather patterns." it said in the investor presentation. Additionally, its subsidiary Il Jin Electronics (India) Pvt. and Nexxbase partnered with each other to form a 50:50 joint venture company in the said quarter for manufacturing, assembling, and designing of wearables and and other smart electronics products, thus contributing strongly towards Make in India initiative which will help reduce import dependency, according to its investor presentation. Amber Enterprises India Q2 FY24 (Consolidated, YoY)Revenue up 23.53% at Rs 927.06 crore vs Rs 750.44 croreEbitda up 62.46% at Rs 59.56 crore vs Rs 36.66 croreMargin at 6.42% vs 4.88%Net loss at Rs 5.65 crore vs loss of Rs 2.29 croreThe scrip fell as much as 10.39% to Rs 2,721.05 apiece, the lowest level since Aug. 16, 2023. It pared losses to trade 6.44% lower at Rs 2,840.95 apiece, as of 11:25 a.m. This compares to a 0.38% decline in the NSE Nifty 50.It has risen 50.16% on a year-to-date basis. Total traded volume so far in the day stood at 9.2 times its 30-day average. The relative strength index was at 43.6.Out of the 25 analysts tracking the company, 19 maintain a 'buy' rating, five recommend a 'hold,' and one suggests 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an downside of 1.2%.!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;rGenus Power Infrastructures Unit Gets Order Worth Rs 3,121 CroreWholly-owned subsidiary gets LoA worth Rs 3,121 crore.Order for advanced metering infrastructure service providers.Unit to also provide full maintenance service of 36.27 lakh smart prepaid meters.Source: Exchange FilingPNB Gilts Plunge Over 14% After Reporting Net Loss In September Quarter Shares of PNB Gilts Ltd. tumbled over 14% after it reported a net loss in the July to September quarter of the fiscal 2024. The company reported a net loss of Rs 48.71 crore on a year-over-year basis in the July to September quarter, owing to the higher finance costs, according to an exchange filing. This compares to a net profit of Rs 0.68 crore in the same quarter of the previous financial year.Furthermore, an exceptional item loss Rs 86,000 was added to the financial results of the current quarter as it could not be provided for during the last year, as per the exchange filing. "As the amount is not material rctrospective effect is not taken," said the company.PNB Gilts Q2FY24 (YoY)Total income up 2.17% at Rs 346.89 crore vs Rs 339.52 crore.Net loss at Rs 48.71 crore vs profit of Rs 0.68 crore. The scrip fell as much as 14.13% to Rs 84.50 apiece, the lowest level since Oct. 12, 2023. It pared losses to trade 12.80% lower at Rs 85.80 apiece, as of 11:02 a.m. This compares to a 0.30% decline in the NSE Nifty 50.It has risen 33.9% on a year-to-date basis. Total traded volume so far in the day stood at 2.6 times its 30-day average. The relative strength index was at 54.7. Bloomberg covers no analyst tracking the company.!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;rBSE Shares Jump Over 13% To Hit Record High On Increase In Derivative Transaction CostsShares of BSE Ltd. hit a lifetime high level on Monday after the company announced an increase in transaction costs for equity derivatives in an exchange filing on Oct. 20.The scrip rose 13.24% during intraday trades to Rs 1,798 apiece, the most among stocks included in the Nifty 500 index. It rose most in a day in over 18 months since March 14, 2022.The exchange increased transaction costs for equity derivatives, with the lowest tier of a premium value below Rs 3 crore at Rs 500 per crore, and highest being Rs 2,000 per crore for a premium value above Rs 2,000 crore.Shares of BSE Ltd. surged 7.89% to Rs 1,715 apiece, compared to a 0.35% fall in the NSE Nifty 50 as of 10:44 a.m. The stock rose 13.24% intraday to a life-high level of Rs 1,798.The average traded volume so far in the day stood at 3.03 times its monthly average, while the relative strength index was at 87, indicating the stock may be overbought.Of the six analysts tracking the company, four maintain a 'buy' rating, and two suggest a 'hold', according to Bloomberg data. The average 12-month consensus price target implies a potential downside of 14.6%.!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;rJSW Energy Advances Over 5% After Q2 Profit SurgesShares of JSW Energy Ltd. surge over 5% after company reported 87.65% consolidated net profit rise at Rs 856.7 crore in the quarter ended September, according to an exchange filing. JSW Energy Q2 FY24 (Consolidated, YoY)Revenue up 36.52% at Rs 3,259.42 crore vs Rs 2,387.48 crore. Ebitda up 111.37% at Rs 1,880.38 crore vs Rs 889.58 crore. Margin at 57.69% vs 37.26%. Net profit up 87.65% at Rs 856.79 crore vs Rs 456.57 crore.The company appointed Ashok Ramachandran as the Chief Operating Officer of the Company with effect from Oct 20, 2023.Ramachandran, is a Master of Engineering (Industrial Engineering) from the Swinburne University of Technology, Melbourne, Australia. He has been the President & CEO at Schindler India from July 2018 onwards, according to the exchange filing.Shares of rose as much as 5.72%, the most single-day gain since sept 22. The scrip pared the early gains and is trading 0.94% higher at 391.45 at 10:44 a.m. This compares to a 0.35% decline in the NSE Nifty 50.The stock has risen 35.48% on a year-to-date basis. Total traded volume so far in the day stood at 2.2 times its 30-day average. The relative strength index was at 48.09, as of 10:42 a.m.Of the 10 analysts tracking the company, four maintain a 'buy' rating, one recommend a 'hold,' and five suggest a 'sell', according to Bloomberg data. The average 12-month consensus price target implies a downside of 4.7%.!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;rCreditAccess Grameen Surges Over 12% To Hit Record High As Profit Doubles In Q2 Shares of CreditAccess Grameen Ltd. rose over 10% after its profit nearly doubled in the July to September quarter of the fiscal 2024. The company's standalone net profit rose 99.35% on a year-over-year basis to Rs 349.21 crore in the July to September quarter, according to an exchange filing. This compares to a net profit of Rs 175.17 crore in the same quarter of the previous financial year.CreditAccess Grameen Ltd.'s gross non-performing assets dived to 0.77% in the said quarter as compared to 2.17% in the July to September quarter of the previous fiscal, as per its investor presentation. The company also added 51 new branches this quarter and entered Andhra Pradesh with eight new branches and Telangana with four branches in contiguous districts. It also raise Rs 990 crore via non-convertible debentures in the same quarter, with a coupon rate of 9.3% for three years.CreditAccess Grameen Q2 FY24 (Standalone, YoY)Total income up 53.2% at Rs 1,247.59 crore vs Rs 814.31 crore. Net profit up 99.35% at Rs 349.21 crore vs Rs 175.17 crore.The scrip rose as much as 12.38% to hit an all-time high at Rs 1,561.95 apiece. It pared gains to trade 7.70% higher at Rs 1,496.90 apiece, as of 10:35 a.m. This compares to a 0.34% decline in the NSE Nifty 50.It has risen 63.8% on a year-to-date basis. Total traded volume so far in the day stood at 35 times its 30-day average. The relative strength index was at 74, implying that the stock maybe overbought.Out of the 20 analysts tracking the company, 18 maintain a 'buy' rating, two recommend a 'hold,' and none suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 11%.!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;rOil Refineries Shares Decline As The Benchmark Refining Margin--Singapore GRMs Rise 70% Week On WeekIndia's oil and gas explorers and refiners to petrochemical companies face downward pressure on their profitability as the benchmark refining margin plunged this week as of Oct. 23 and the crude prices continue to remain volatile. The Singapore gross refining margin—what refiners make on processing every barrel of crude into diesel, petrol and other products—has fallen 70% week-on-week to $1.45 a barrel as of Oct. 23.Singapore Gross Refining MarginsSingapore GRM at $1.45/ bbl on Oct. 23Lowest level since May 1, 2023GRMs at $4.8 a barrel on Oct. 15Margins down 70% week on weekProfitability of state-owned refiners like Indian Oil Corp., Bharat Petroleum Corp., Hindustan Petroleum Corp., as well as private refineries like Reliance Industries Ltd., is likely to be affected by a fall in GRMs. Shares of Mangalore Refinery and Petrochemicals Ltd., a division of Oil and Natural Gas Corporation Ltd. and Chennai Petroleum Corp., a subsidiary of Indian Oil Corp. fell over 2% after the decline in Singapore's gross refining margins, as of 10:07 a.m.!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;rICICI Bank Shares Advance As Profit Jumps In Q2Shares of ICICI Bank Ltd. advanced as the private lender reported a net profit growth of 36% year-on-year on higher core income and lower provisions in the quarter ended September.Net profit rose to Rs 10,261 crore, as compared with Rs 7,558 crore a year earlier, according to its exchange filing. Analysts polled by Bloomberg had estimated a net profit of Rs 9,459 crore.Net interest income for the quarter rose to Rs 18,308 crore, up 24% year-on-year. Other income for the quarter increased to Rs 5,777 crore, up 14.3% year-on-year.Net interest margin, as of Sept. 30, was at 4.53%, down 25 bps quarter-on-quarter.ICICI Bank Q2 FY24 (Standalone)NII up 24% at Rs 18307.91 crore vs Rs 14786.81 croreNet profit up 36% at Rs 10261 crore vs Rs 7558 croreGross NPA at 2.48% vs 2.76% QoQNet NPA at 0.43% vs 0.48% QoQ!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;rKotak Mahindra Bank Shares Fall On Concerns Regarding Smooth Succession Of New CEO Shares of Kotak Mahindra Bank Ltd. were the top loser of the Nifty 50 Index despite the private lender's standalone net profit rising 23.5% year-on-year to Rs 3,190 crore in the quarter ended September, backed by lower operating expenses and credit costs, according to an exchange filing.The appointment of Ashok Vaswani, an external candidate, as managing director and chief executive officer of Kotak Mahindra Bank Ltd. has raised concerns among investors about a potential change in the growth strategy of the bank, according to analysts."While a change in CEO was expected, an external candidate would raise questions on any potential changes in strategy, delays in major new initiatives (e.g., the IDBI deal), etc.," Bernstein Research said in a note.A smooth transition will be crucial, Jefferies noted while tweaking its rating to 'hold' from 'buy' with a price target of Rs 1,940.Credit costs for the bank stood at 47 basis points in the second quarter of FY24, down from 54 basis points a quarter ago.Additionally, the recently released ActivMoney product, which Motilal Oswal Securities predicts will maintain the long-term flow of deposits, is what is responsible for the 28% quarter-over-quarter increase in deposits. The bank's net interest margin fell 35 basis points in the quarter to 5.22%.Kotak Mahindra Bank Q2FY24 (Standalone)Net Profit: Rs 4423 crore vs Rs Rs 3579 crore (YoY) up 23.6%NII: Rs 8181 crore vs Rs 6609 crore (YoY) up 24%GNPA: 1.69% vs 1.75% (QoQ) down 6 bpsNNPA: 0.39% vs 0.43% (QoQ) down 4 bps!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;rNifty Pharma Lead, Realty And Metals Drag!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;r!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;rBroader Markets Trade MixedThe broader market indices open mixed; the S&P BSE MidCap Index was unchanged, whereas S&P BSE SmallCap Index was also 0.12% higher.Nine out of the 20 sectors compiled by BSE declined, while eleven sectors advanced. S&P BSE Consumer Durables fell the most and S&P BSE Power rose the most. The market breadth was skewed in the favour of the buyers. About 1,441 stocks rose, 1,020 declined, while 157 remained unchanged on the BSE.Top Movers On The Nifty 50 Index!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;rSensex, Nifty Open Lower: Opening BellIndia's benchmark stock indices opened lower after a mixed pre-open on Monday after snapping two weeks of gains on Friday. "Asian shares drifted lower on Monday as the risk of a broader conflict in the Middle East clouded sentiment in a week loaded with data on US growth and inflation and earnings from some of the world's largest tech companies. Taking cues from the Gift Nifty, the Indian markets opened in negative territory. The zone of 19,990-19,850 is anticipated to act as a relatively stronger supply zone while the 50DMA trading near 19,620 acts as overhead resistance as the uptrend now remains under pressure until the supply zone is decisively reclaimed on a closing basis.” said, Avdhut Bagkar Technical and Derivatives Analyst, StoxBox.At pre-open, the S&P BSE Sensex was up 24 points, or 0.04%, at 65,421.90, while the NSE Nifty 50 was 21 points or 0.11% lower at 19,521.60.Asian stocks fell for a fourth day after a selloff in U.S. markets deepened Friday. Japanese, Hong Kong, Chinese, Autralian and South Korean markets fell. U.S, futures contracts advanced in Asia after the S&P 500 slid more than 1% Friday.The S&P 500 on Friday broke the 200-day moving average — seen by some as a bearish signal — and the VIX, Wall Street’s “fear gauge,” jumped to its highest since March. !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;r!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;rSensex, Nifty Mixed In Pre-Market TradeAt pre-open, the S&P BSE Sensex was up 24 points, or 0.04%, at 65,421.90, while the NSE Nifty 50 was 21 points or 0.11% lower at 19,521.60.Source: BloombergYield On The 10-Year Flat The yield on the 10-year bond opened flat at 7.37% on Monday.Source: BloombergRupee Weakens Against The U.S. Dollar The local currency weakened 5 paise to open at 83.17 against the U.S dollar on Monday. It closed at 83.12 on Friday. Source: BloombergTrade Talk: Banking Heavyweights Post Q2 Earnings, What Next? Power & Capital Market Stocks Can Outperform: Trade SetupAsian Markets Trade LowerGlobal CuesU.S. Dollar Index at 106.3U.S. 10-year bond yield at 4.97%Brent crude down 0.88% at $91.35 per barrel Nymex crude down 1.02% at $87.18 per barrel GIFT Nifty was up 51 points of 0.26% at 19,477.5 as of 8:10 a.m. Bitcoin was up 1.66% at $30,356.88Asian Stocks Extend Losses As Oil, Gold Decline: Markets WrapTrading TweaksMove out of short term ASM framework: Jai Corp.Charting The Global Economy: China’s Economy Gains MomentumF&O CuesNifty October futures fell 0.49% at 19,523.30, at a discount of 19.35 points.Nifty October futures open interest declined by 3.07% by 5,504 shares.Nifty Bank October futures fell 0.23% to 43743.05, at a premium of 20 points.Nifty Bank October futures open interest declined by 16.14% by 26,004 shares.Nifty Options Oct 26 Expiry: Maximum call open interest at 20,000 and Maximum put open interest at 19,800.Nifty Bank Options Oct 26 Expiry: Maximum call open interest at 46,000 and Maximum put open interest at 42,000.Securities in the ban period: India Bulls Housing Finance.India Says It Ousted Canadian Envoys on Interference ConcernsInsider TradesInfosys: Promoter Group Shreyas Shibulal and Bhairavi Madhusudhan Shibulal sold 23.70 lakh shares and 6.68 lakh shares respectively on Oct 19.Som Distilleries & Breweries: Promoter Deepak Arora bought 20,000 shares on Oct 20.How To Identify Unrealistic Promises To Safeguard Your InvestmentPledge Share DetailsChoice International: Promoter Group NS Technical Consultancy created a pledge of 9 lakh shares on Oct 19.Wealthy Travelers Have Found An Even More Desirable Way To Fly PrivateBlock DealsZomato: SVF Growth Singapore sold 9.35 crore shares (1.1%) and Fidelity Investments, through 13 funds, collectively bought 9.34 crore shares at Rs 111.2 apiece.Poonawalla Fincorp Q2 Results: Profit Jumps On Sale Of Subsidiary Earnings In FocusTorrent Pharmaceuticals, Lloyds Metals and Energy, PNB Housing Finance, Alok Industries, Mahindra Holidays & Resorts India, Kewal Kiran Clothing, Mahindra Logistics, NDTV, and Ganesha Ecoverse.!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;rNifty In Technical Charts: No Respite From Declines YetEarnings Post Market HoursJ&K Bank Q2 FY24 (Standalone, YoY)Net profit at Rs 381.07 crore vs Rs 243.49 crore, up 57% YoY.NII at Rs 1,333.83 crore vs Rs 1,195.12 crore, up 12% YoY.Gross NPA at 5.26% vs 5.77% QoQ.Net NPA at 1.04% vs 1.39% QoQ.CreditAccess Grameen Q2 FY24 (Standalone, YoY)Total income up 53.2% at Rs 1,247.59 crore vs Rs 814.31 crore. Net profit up 99.35% at Rs 349.21 crore vs Rs 175.17 crore.Poonawalla Fincorp Q2 FY24 (Standalone, YoY)Total income up 54.98% at Rs 744.73 crore vs Rs 480.53 crore. Net profit up 867.11% at Rs 1,258.89 crore vs Rs 130.17 crore.NIM up 2 bps at 11.42% vs 10.36%.Note: Numbers not comparable due to sale of Poonawala Housing Finance this quarter. Tanfac Industries Q2FY24 (YoY)Revenue up 9.36% at Rs 81.37 crore vs Rs 74.4 crore.Ebitda up 59.55% at Rs 15.62 crore vs Rs 9.79 crore.Margin at 19.19% vs 13.15%.Net profit up 33.6% at Rs 11.37 crore vs Rs 8.51 crore. KFin Technologies Q2 FY24 (Consolidated, QoQ)Revenue up 15.13% at Rs 208.97 crore vs Rs 181.5 crore. EBIT up 39.93% at Rs 81.09 crore vs Rs 57.95 crore. Margin at 38.8% vs 31.92%. Net profit up 41.34% at Rs 61.3 crore vs Rs 43.37 crore.PNB Gilts Q2FY24 (YoY)Total income up 2.17% at Rs 346.89 crore vs Rs 339.52 crore.Net loss at Rs 48.71 crore vs profit of Rs 0.68 crore. Paytm Q2 FY24 (Consolidated, QoQ)Revenue up 7.55% at Rs 2,518.6 crore vs Rs 2,341.6 crore. Ebitda loss of Rs 231 crore vs Ebitda loss of Rs 292.1 crore. Net loss at Rs 291.7 crore vs loss of Rs 358.4 crore.Central Bank of India Q2 FY24 (Standalone, YoY)Net profit at Rs 605.43 crore vs Rs 318.17 crore, up 90% YoY.NII at Rs 3,027.69 crore vs Rs 2,747.49 crore, up 10% YoY.Gross NPA at 4.62% vs 4.95% QoQ.Net NPA at 1.64% vs 1.75% QoQ.Sasken Technologies Q2 FY24 (Consolidated, QoQ)Revenue up 4.08% at Rs 102.51 crore vs Rs 98.49 crore.EBIT up 70.83% at Rs 12.71 crore vs Rs 7.44 crore.Margin at 12.39% vs 7.55%.Net profit down 29.66% at Rs 18.07 crore vs Rs 25.69 crore.Tejas Networks Q2 FY24 (Consolidated, YoY)Revenue up 80.02% at Rs 395.95 crore vs Rs 219.94 crore. Ebitda down 39.79% at Rs 12.97 crore vs Rs 21.54 crore. Margin at 3.27% vs 9.79%. Net loss at Rs 12.64 crore vs loss of Rs 3.16 crore. JSW Energy Q2 FY24 (Consolidated, YoY)Revenue up 36.52% at Rs 3,259.42 crore vs Rs 2,387.48 crore. Ebitda up 111.37% at Rs 1,880.38 crore vs Rs 889.58 crore. Margin at 57.69% vs 37.26%. Net profit up 87.65% at Rs 856.79 crore vs Rs 456.57 crore.Sunteck Realty Q2 FY24 (Consolidated, YoY)Revenue down 69.13% at Rs 24.93 crore vs Rs 80.74 crore.Ebitda loss at Rs 14.14 crore vs profit of Rs 10.02 crore.Net loss at Rs 13.94 crore vs profit of Rs 2.33 crore. ICRA Q2 FY24 (Consolidated, YoY)Revenue up 6.34% at Rs 104.85 crore vs Rs 98.59 crore. Net profit down 13.61% at Rs 32.145 crore vs Rs 37.21 crore. L&T Finance Holdings Q2 FY24 (Consolidated, YoY)Total income up 6.89% at Rs 3,482.07 crore vs Rs 3,257.36 crore.Net profit up 46.42% at Rs 595.11 crore vs Rs 406.43 crore.Net interest margin up 10.84% vs 8.43% YoY.Just Dial Q2 FY24 (Consolidated, QoQ)Revenue up 5.51% at Rs 260.61 crore vs Rs 246.98 crore.Ebitda up 32.92% at Rs 48.77 crore vs Rs 36.69 crore.Margin at 18.71% vs 14.85%.Net profit down 13.93% at Rs 71.78 crore vs Rs 83.4 crore.Balkrishna Industries Q2FY24 (Consolidated, QoQ)Revenue down 15.22% at Rs 2253.19 crore vs Rs 2657.52 croreEbitda up 24.97% at Rs 532.71 crore vs Rs 426.26 croreMargin at 23.64% vs 16.03%Reported PAT down 9.1% at Rs 347.44 crore vs Rs 382.26 croreICICI Bank Q2 FY24 (Standalone)NII up 24% at Rs 18307.91 crore vs Rs 14786.81 croreNet profit up 36% at Rs 10261 crore vs Rs 7558 croreGross NPA at 2.48% vs 2.76% QoQNet NPA at 0.43% vs 0.48% QoQRossari Biotech Q2 FY24 (Consolidated, YoY)Revenue up 13.64% at Rs 483.46 crore vs Rs 425.43 croreEbitda up 12.39% at Rs 63.55 crore vs Rs 56.54 croreMargin at 13.14% vs 13.29%Reported PAT up 37.76% at Rs 32.94 crore vs Rs 23.91 croreIDBI Bank Q2 FY24 (Standalone)NII up 12% at Rs 3066.49 crore vs Rs 2738.11 crore YoYNet profit up 60% at Rs 1,323.27 crore vs Rs 828.09 crore YoYGross NPA at 4.90% vs 5.05% QoQNet NPA at 0.39% vs 0.44% QoQRBL Bank Q2 FY24 (Standalone)NII up 26% at Rs 1474.98 crore vs Rs 1174.35 crore YoYNet profit up 46% at Rs 294.08 crore vs Rs 201.55 crore YoYGross NPA at 3.12% vs 3.22% QoQNet NPA at 0.78% vs 1% QoQYES Bank Q2 FY24 (Standalone)NII down 3% at Rs 1924.4 crore vs Rs 1991.4 crore YoYGross NPA at 2.0% vs 2.0% QoQNet NPA at 0.9% vs 1.0% QoQNet profit up 47% at 225.21 crore vs Rs 152.82 crore YoYKotak Mahindra Bank Q2FY24 (Standalone)Net Profit: Rs 4423 crore vs Rs Rs 3579 crore (YoY) up 23.6%NII: Rs 8181 crore vs Rs 6609 crore (YoY) up 24%GNPA: 1.69% vs 1.75% (QoQ) down 6 bpsNNPA: 0.39% vs 0.43% (QoQ) down 4 bpsL&T Finance Q2 Results: Profit Rises 46% On The Back Of Rural, Microfinance LoansStocks To Watch: JSW Steel, Adani Energy, Powergrid, Tata Power, JSW Energy, LIC, Paras Defence, ONGC In FocusDCB Bank: The bank's board recommended names of candidates for the positions of MD and CEO. Current MD and CEO Murali Natrajan's term to end on April 28, 2024.JSW Steel: Periama Holdings to acquire the remaining 10% stake in JSW USA. Stake to be bought from Green Suppliers and Services for a consideration of $1,000. Following the acquisition, Periama will hold a 100% stake in JSW USA.Samvardhana Motherson: Company unit in pact to buy 100% stake in France's Topco for €35 million. Topco manufactures components for aircraft engines and medical devices. The company is also in a pact to buy a 73.05% stake in Irillic Private and will hold 74.19% of the target's share capital.Adani Energy Solutions: The company received smart metre LOAs worth Rs 17,000 crore. It added 219 circuit kilometres to the operational network and also sold 2,446 million units, up 9.53% year-on-year.Adani Green Energy announced the resignation of Ahlem Friga-Noy as nominee director w.e.f. Oct. 23.Zydus Lifesciences: The company received U.S. FDA approval for ANDA of Sitagliptin tablets, which are used to treat adult patients with type 2 diabetes mellitus.Power Grid Corporation of India: The company will invest Rs 119.95 crore in its Eastern Region Expansion Scheme.JSW Energy: The company appointed Ashok Ramachandran as COO effective Oct. 20.Tata Power Renewable Energy: The company signed a 12.5 MW PDA with Supreme Petrochem in Achegaon, Maharashtra. The plant is expected to reduce carbon emissions by 20,075 metric tonnes annually.Tejas Networks: The company appointed Sumit Dhingra as CFO effective Dec. 1.ONGC: Participates in the bidding process for the acquisition of a 100% stake in PTC Energy, a wholly owned subsidiary of PTC India.Blue Star: The company received a Rs 3.4 crore demand notice from the Mumbai Stamps Collector. The demand is based on the alleged non-payment of stamp duty in 2008.Aditya Birla Fashion and Retail: The company's unit is to buy a 51% stake in Styleverse Lifestyle for Rs 155 crore. The acquisition is part of the company's expansion of digital-first brands.Astral: The company completed the acquisition of 80% shares of Gem Paints (51% against redemption of optionally convertible debentures amounting to Rs 194 crore and 29% towards the second tranche). The remaining 20% equity stake will be acquired over a period of 5 years.LIC: The company announced the stake increase in Housing & Urban Development Corporation from 10.45 crore shares to 17.82 crore shares, increasing the stake from 5.22% to 8.90%.Paras Defence: Board of Directors approved the incorporation of a wholly owned subsidiary named Quantico Technologies, which will develop end-to-end solutions for Quantum Technologies (which is associated with the United States and is included in the 5th Positive Indigenisation List).Sheela Foam: The company updated that it has completed the acquisition of 94.66% of the share capital of Kurlon Enterprise.Himadri Specialty Chemical: NCLT has approved the resolution plan for the acquisition of BTL under the corporate insolvency process.JSW Steel Q2 Results: Margin Surges, Earnings Beats EstimatesGIFT Nifty Signals Higher Open For BenchmarksAsian stocks fell for a fourth day after a selloff in U.S. markets deepened Friday.Japanese, Chinese, Australian and South Korean markets fell. U.S. futures contracts advanced in Asia after the S&P 500 slid more than 1% on Friday.The S&P 500 on Friday broke the 200-day moving average—seen by some as a bearish signal—and the VIX, Wall Street’s “fear gauge,” jumped to its highest since March.The yield on the 10-year U.S. bond was trading at 4.97%, and Bitcoin was above 30,000-level. Brent crude was trading below $92 a barrel, whereas WTI crude was above the $87 mark.At 8:10 a.m., the GIFT Nifty, an early indicator of the Nifty 50 Index’s performance in India, was up 51 points, or 0.26%, at 19,477.5.India's benchmark stock indices closed lower on Friday, dragged by losses in ITC Ltd. and Larsen & Toubro Ltd. On a weekly basis, the headline indices snapped two weeks of gains. Realty, consumer durables and energy sectors declined, while private banks gained.Overseas investors turned net buyers of Indian equities on Friday. Foreign portfolio investors mopped up stocks worth Rs 456.2 crore, while domestic institutional investors also turned net buyers and bought equities worth Rs 8.5 crore, the NSE data showed.The Indian rupee strengthened 12 paise to close at 83.12 against the U.S. dollar on Friday.Stock Market Today: All You Need To Know Going Into Trade On Oct. 23. Read more on Markets by BloombergQuint.
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