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India Stock Market Recap
The Indian stock market benchmark indices, Sensex and Nifty 50, closed over half a percent lower on Thursday, weighed down by selling across the board, as persistently high crude oil prices and escalating geopolitical tensions continue to dent sentiment. The Sensex dropped 460.30 points, or 0.62%, to close at 73,249.39, while the Nifty 50 settled 123.70 points, or 0.54%, lower at 22,687.65. The Bank Nifty index ended at 54,925.70, down 51.20 points, or 0.09%.
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Earnings
Colgate-Palmolive India (Q2, Standalone, YoY)
- Revenue up 12.2% to Rs 1,706 crore vs Rs 1,520 crore
- EBITDA up 1.7% to Rs 474 crore vs Rs 466.2 crore
- EBITDA margin at 27.8% vs 30.7%
- Net profit rose 4.3% to Rs 342 crore vs Rs 327.5 crore
- Toothpaste volume up in high single digits
Vs Estimates
- Net profit: Rs 342 crore vs est. Rs 368 crore
- Revenue: Rs 1,706 crore vs est. Rs 1,719 crore
- EBITDA: Rs 474 crore vs est. Rs 514 crore
- EBITDA margin: 27.8% vs. est. 29.9%
Swiggy (Q2, Cons, YoY)
- Revenue up 36.1% to Rs 7,571 crore vs Rs 5,561 crore
- EBITDA loss at Rs 770 crore vs loss of Rs 798 crore
- Net loss at Rs 922 crore vs loss of Rs 1,092 crore
- Other income at Rs 212 crore vs Rs 59 crore
Segment Performance
- Food Delivery revenue up 22% YoY at Rs 2,338 crore
- Food Delivery EBIT up 39% YoY at Rs 349 crore
- Quick Commerce revenue up 33% YoY at Rs 1,306 crore
- Quick Commerce EBIT loss at Rs 764 crore vs loss of Rs 739 crore
Vs Estimates
- Net loss: Rs 922 crore vs est. loss of Rs 871 crore
- Revenue: Rs 7,571 crore vs est. Rs 7,336 crore
- EBITDA loss: Rs 770 crore vs est. loss of Rs 595 crore
Performance (Q2, Cons, QoQ)
- Revenue up 7.7% to Rs 2,235 crore vs Rs 2,076 crore
- EBIT up 21.6% to Rs 228.3 crore vs Rs 187.7 crore
- EBIT margin at 10.21% vs 9.04%
- Net profit up 16.6% to Rs 121 crore vs Rs 104 crore
HPCL (Q2, QoQ)
- Revenue down 4.0% to Rs 1.34 lakh crore vs Rs 1.40 lakh crore
- EBITDA at Rs 9,074 crore vs EBITDA loss of Rs 16,141 crore
- Net profit at Rs 3,483 crore vs loss of Rs 11,526 crore
Vs Estimates
- Net profit: Rs 3,483 crore vs est. loss of Rs 2,050 crore
- Revenue: Rs 1.34 lakh crore vs est. Rs 1.33 lakh crore
- EBITDA: Rs 9,074 crore vs est. loss of Rs 141 crore
CIE Automotive India (Q2, YoY)
- Revenue up 11.0% to Rs 2,633 crore vs Rs 2,372 crore
- EBITDA up 5.1% to Rs 373.9 crore vs Rs 355.6 crore
- EBITDA margin at 14.2% vs 15.0%
- Net profit up 14.0% to Rs 244 crore vs Rs 214 crore
CreditAccess Grameen (Q2, YoY)
- Total income up 26.2% to Rs 1,905 crore vs Rs 1,509 crore
- Net profit at Rs 502 crore vs Rs 129 crore
- AUM grew 19.5% YoY from 25,903 crore to INR 30,946 crore
- Disbursements increased by 19.4% YoY from INR 5,322 crore to INR 6,355 crore
- Raised FY27 Guidance To ROA: 5.2-5.8% and ROE: 21-24%
Hatsun Agro Product (Q2, Cons, YoY)
- Revenue up 19.5% to Rs 2,898 crore vs Rs 2,428 crore
- EBITDA up 1.8% to Rs 332 crore vs Rs 326 crore
- EBITDA margin at 11.5% vs 13.4%
- Net profit up 5.5% to Rs 116 crore vs Rs 110 crore
Sagility (Q2, QoQ)
- Revenue up 3.5% to Rs 2,032 crore vs Rs 1,963 crore
- EBIT up 22% to Rs 379.5 crore vs Rs 309.9 crore
- EBIT margin at 18.7% vs 15.8%
- Net profit up 30.9% to Rs 284 crore vs Rs 217 crore
BlueStone Jewellery (Q2, YoY)
- Revenue up 45.0% to Rs 745 crore vs Rs 514 crore
- EBITDA at Rs 95 crore vs EBITDA loss of Rs 139 crore
- Net loss at Rs 4.4 crore vs loss of Rs 52.1 crore
Pitti Engineering (Q2, Cons, YoY)
- Revenue up 20.9% to Rs 578 crore vs Rs 478 crore
- EBITDA up 7.3% to Rs 88 crore vs Rs 82 crore
- EBITDA margin at 15.2% vs 17.2%
- Net profit down 15.5% to Rs 33.9 crore vs Rs 40.1 crore
- Approved a capex of Rs.450 crores to increase manufacturing capacities
Nuvoco Vistas Corporation (Q2, Cons, YoY)
- Revenue up 13.5% to Rs 2,790 crore vs Rs 2,458 crore
- EBITDA up 10.9% to Rs 408 crore vs Rs 368 crore
- EBITDA margin at 14.6% vs 15.0%
- Net profit up 81.0% to Rs 65 crore vs Rs 36 crore
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Stocks In News
eMudhra: To withdraw from global SSL/TLS certificate business after security key compromise incident; says no data breach occurred and core operations remain unaffected.
Petronet LNG: To form JV with Gruner Renewable for CBG plants across India; plans to set up 10 CBG plants of 18 MT each with investment of Rs 1,200 crore.
Jindal Stainless: Board approves amalgamation of Chromeni Steels, Rabirun Vinimay, JSL Super and Jindal United into the company.
Augmont Enterprises: Fire incident due to short circuit at Jaipur arm; casualties/injuries reported; company extending support to affected persons.
Cholamandalam Investment & Finance: Board to consider fundraising via equity on Oct. 28.
NLC India: Signs MoU with IPICOL for coal gasification project, beach sand mineral processing unit and 3,200 MW ultra super-critical thermal power plant in Odisha. To set up beach sand mineral processing unit in Odisha with investment of Rs 2,000 crore.
HFCL: Incorporates wholly-owned subsidiary HFCL Connectivity Systems.
Redington: Gulf arm signs strategic partnership with AWS to accelerate AI adoption.
Saatvik Green Energy: Launches TOPCon 3.0 dual-glass bifacial solar module; module delivers output of up to 745W.
Websol Energy: Appoints Vinay Vyas as CEO of arm Websol Renewables.
BlueStone Jewellery: Approves fundraising of up to Rs 300 crore via NCDs.
Allied Blenders & Distillers: DRI visits Mumbai office and Sambhajinagar manufacturing unit; says no impact on operations or financials. Commences operations at malt distillery in Telangana; unit has capacity of over 4.4 million barrels per annum.
NRB Bearing: Approves sale of 1.27% stake in Amplus Ampere to Apcotex Industries for Rs 72 lakh and 1.30% stake to Deepak Novochem Technologies for Rs 73.6 lakh.
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IPO Update
Jio Platforms IPO Update Day 2
- Total subscription 5.6x
- Retail 1.54x
- QIB 13.3x at closing
Paras Health IPO Update Day 2
- Total subscription 0.3x
- Retail 1.31x
- QIB 0.03x at closing
IPO Listings
Tonbo Imaging India
- IPO subscribed 132.81 times
- Subscribed 31.11 times in the retail category
- 293.56 times in QIB (Ex Anchor)
- 156.36 times in the NII category
Typesetting Manufacturing Business
- IPO subscribed 3.10 times
- Public issue subscribed 0.77 times in the retail category
- 4.71 times in QIB (And Anchor)
- 1.45 times in the NII category
Bonfiglioli Transmissions
- IPO subscribed 46.05 times
- Public issue subscribed 5.90 times in the retail category
- 120.78 times in QIB (Ex Anchor)
- 40.39 times in the NII category
Sahajanand Medical Technologies
- IPO subscribed 14.21 times
- Public issue subscribed 3.04 times in the retail category
- 34.70 times in QIB (Ex Anchor)
- 14.64 times in the NII category
Board Meetings
- Atul Limited – BUYBACK
- Shriram Finance Limited – Fund Raising
Bulk & Block Deals
- Capital Infra Trust: A.K. Capital Finance sold 66.45 lakh units at Rs 75.59 per unit; buyer was Larsen & Toubro.
- Gallantt Ispat: Gallantt Industry sold 26.52 lakh shares at Rs 565 per share; buyer was Suryalaxmi Infracon.
- Ola Electric Mobility: SVF II Ostrich (DE) LLC sold 82.93 lakh shares at Rs 3.64 per share.
IMP AGM
Price Band
Price Band change from 20% to 10%: EMUDHRA
F&O Cues
- Nifty Oct futures is down 0.09% to 22,723.10 at a discount of 36 points.
- Nifty Options 27 Oct Expiry: Maximum Call open interest at 24,000 and Maximum Put open interest at 22,000.
Securities in ban period: AMBUJACEM, KAYNES, SAIL
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