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PRE-MARKET REPORT
The domestic equity benchmark indices, Sensex and Nifty 50, are expected to open lower on Monday following weakness in Asian markets.
Gift Nifty was trading around the 24,125 level, a discount of nearly 95 points from the Nifty futures’ previous close, indicating a negative start for the Indian stock market indices.
After Donald Trump’s election victory, the US stock market ended higher on Friday, registering its biggest weekly percentage gain in a year.
The Dow Jones Industrial Average gained 259.65 points, or 0.59%, to 43,988.99, while the S&P 500 rose 22.44 points, or 0.38%, to 5,995.54. The Nasdaq Composite closed 17.32 points, or 0.09%, higher at 19,286.78.
Asian markets traded lower on Monday after lower than expected China’s October inflation data. Japan’s Nikkei 225 declined 0.14%, while the Topix was flat. South Korea’s Kospi dropped 0.57%, and the Kosdaq fell 0.58%. Hong Kong’s Hang Seng index futures indicated a weaker opening.
STOCKS TODAY
Divi’s Laboratories: For the quarter ended September 30, the company reported a 46.6 percent year-on-year (YoY) rise in profit after tax (PAT) to ₹510 crore. This growth was driven by increased demand in its custom synthesis business from both existing and new clients. In comparison, the company had posted a PAT of ₹348 crore in the same quarter the previous year.
Aurobindo Pharma: The company posted an 8.6 percent YoY increase in net profit to ₹817 crore for the second quarter ended September 2023, supported by strong sales in Europe and growth markets. This was an improvement from the ₹752 crore net profit recorded in the corresponding quarter last year. However, on a quarter-on-quarter (QoQ) basis, net profit saw an 11 percent decline. Revenue from operations rose 8 percent YoY to ₹7,796 crore in Q2 FY25.
Asian Paints: The company experienced a 42.4 percent YoY decline in Q2 net profit, attributed to a “subdued demand environment.” Net profit after minority interest fell to ₹694.60 crore for the July-September period, down from ₹1,205.40 crore in the same quarter last year. Consolidated net sales dropped 5.3 percent to ₹8,003.0 crore from ₹8,451.9 crore.
State Bank of India (SBI): India’s largest public sector bank, reported a 28 percent YoY increase in standalone net profit, reaching ₹18,331.4 crore for the July-September quarter of FY25. This figure surpassed market expectations, which had projected a net profit rise of 10-17 percent. For comparison, the lender reported a net profit of ₹14,433.03 crore in Q2 FY24. Sequentially, SBI’s Q2 profit increased by 7.6 percent from ₹17,035.16 crore.
Tata Motors: The company reported an 11.2 percent decline in net profit to ₹3,343 crore, attributed to muted domestic demand and production challenges at Jaguar Land Rover (JLR). The company’s revenue fell by 3.8 percent to ₹1.01 lakh crore. EBITDA dropped by 12 percent to ₹12,159 crore. JLR’s profitability was affected by a temporary aluminium supply issue and a hold on 6,029 vehicles for additional quality control checks.
Ola Electric: The company narrowed its net loss to ₹495 crore in Q2 FY25, benefiting from increased sales and reduced raw material costs. This was an improvement over the ₹524 crore net loss reported in the same period last year. The company’s consolidated revenue grew 39 percent year-on-year to ₹1,214 crore, up from ₹873 crore in the prior-year period.