Pre Market Analysis 18-10-2021

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.26% higher at 18,451, signalling that Dalal Street was headed for a positive opening on Monday.

Asian shares were trading lower on Monday as Chinese economy grew at a slower rate than expected and rising oil prices stoked inflation fears. Japan’s Nikkei was down 0.28%, Topix fell 0.37%. China’s CSI 300 dropped 1.61% and Hang Seng was down 0.68%.

The Indian rupee ended 11 paise higher at 75.26 against the US dollar on Thursday.

Upcoming Earnings

UltraTech Cement, Larsen & Toubro Infotech, Route Mobile, Tata Coffee, Alok Industries, Concord Drugs, Craftsman Automation, Gujarat Hotels, Hathway Bhawani Cabletel & Datacom, Hatsun Agro Product, International Travel House, Lloyds Steels Industries, SVP Global Ventures, Tanfac Industries and Uniply Decor

FII/DII trading data on Thursday (14-10-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

HDFC Bank: The private-sector lender posted a 17.6% rise in net profit at Rs 8,834.3 crore in the second quarter of FY22 on the back of higher interest income, fees and commissions. The lender had posted a net profit of Rs 7,513.1 crore in Q2FY22. Net interest income (NII) in Q2FY22 rose 12.1% to Rs 17,684.4 crore, from Rs 15,776.4 crore in the same period last year ago. Its non-interest income jumped 21.5% to Rs 7,400.8 crore in Q2FY22, as against Rs 6,092.5 crore in the year-ago period.

Avenue Supermarts Ltd: The company that operates D-Mart retail chain posted an increase in its consolidated net profit to Rs 417.76 crore in the second quarter of FY22, as against Rs 198.53 crore in the year-ago period. Its operating revenue was up 46.79% to Rs 7,788.94 crore during the quarter, as against Rs 5,306.20 crore in the corresponding quarter of the last fiscal.

HCL Technologies: The IT services firm reported that its operating revenue rose 11.% to Rs 20655 crore in Q2FY22, from Rs 18594 crore in the year-ago period. Net income increased 3.9% to Rs 3265 crore in Q2FY22, from Rs 3124 in the year-ago period. The company’s board has declared an interim dividend of Rs.10/- per equity share for FY22.

Reliance Industries: Reliance Brands Limited, a part of the retail arm of the Reliance Industries Limited, has acquired a 40% stake in MM Styles Pvt Ltd, which is owned by fashion designer Manish Malhotra, for an undisclosed sum, the two companies said. The deal is aimed at accelerating MM Styles’ growth plans in India and across the globe, they said in a joint statement.

Coal India: The public-sector enterprise has told its subsidiaries not to conduct any further e-auction of coal, except special forward e-auction for the power sector, till the situation stabilises. The is because the supply of coal is being prioritised to the power sector to replenish the dwindling stock in the wake of reports of an electricity crisis looming large.

Cyient: The technology company posted a 44.57% jump in consolidated net profit to Rs 121.3 crore in Q2FY22, compared with Rs 83.9 crore in the same period a year ago. Its consolidated revenue from operations increased 10.79% to Rs 1,111.6 crore in the quarter, as against Rs 1,003.3 crore in the year-ago period.

Century Textiles: The company posted a standalone net income of Rs 54 crore and a standalone revenue of Rs 998 crore in the second quarter of FY22. It had posted a net income of Rs 5 crore and and a revenue of Rs 600 crore in the year-ago period, due to the pandemic. The company attributed its strong performance to higher operating efficiency and turnaround in market sentiments.

Inox Wind: The company’s consolidated net loss declined to Rs 57.52 crore in Q2FY22, from a consolidated net loss of Rs 76 crore in the year-ago period. Total income of the company slipped to Rs 167.51 crore in the quarter, from Rs 176.62 crore in the same period a year ago. The company said that its management does not see any risks in its ability to continue as a going concern and meeting its liabilities.

Route Mobile: The company’s shareholders have approved its fund raising plan of Rs 2000 crore through sale of securities, according to the company’s regulatory filing. Most of the shareholders also approved to increase limits of foreign portfolio investments in the company.

Indiabulls Real Estate: The company posted a consolidated net profit of Rs 5.64 crore for the quarter ended September in FY22, compared with a net loss of Rs 76 crore in the year-ago period. Total income in the second quarter of this fiscal jumped to Rs 381.24 crore from Rs 50.70 crore in the corresponding period of the previous year. Its sales bookings jumped more than two-fold to Rs 874 crore during the first six months of this fiscal year, helped by recovery in housing demand. The sales bookings stood at Rs 368 crore in the corresponding period of the previous year.

Metropolis Healthcare: The company’s board has approved the acquisition of Hitech Diagnostic Centre and its subsidiary Centralab Healthcare Services for a cash consideration of Rs 636 crore. In its filing, the company said the indicative period for completion of the acquisition is 6 months.

MM Forgings Ltd: The auto components maker has acquired CAFOMA Autoparts for a total consideration of Rs 33 crore, which includes a sum of Rs 28 crore in cash and Rs 5 crore in debt, the company said in a regulatory filing. The buyout will help MMF to reach 60,000 machined crankshafts per month. MMF will cater to various sectors including automotive, commercial vehicles, exports, farm equipment, industrial and marine applications.

SpiceJet: The airline’s licence for the transportation of ‘dangerous goods’ for alleged violations has been temporarily suspended for 30 days, according to sources. The airline said there was a “minor issue” with a package being declared as a “non-dangerous goods” by a blacklisted shipper.