Pre Market Analysis 26-10-2021

Market Opening - An Overview

Nifty futures on the Singapore Exchange were trading 0.19% higher at 18,233, signalling that Dalal Street is likely to open higher on Tuesday.

Most Asian stocks rose Tuesday after a record S&P 500 close on robust corporate earnings and progress on President Joe Biden’s economic agenda boosted investors’ sentiments even as inflation risks loomed. Japan’s Nikkei was up 1.72% and Topix rose 1.18%. CSI 300 index was marginally lower at 0.04% and Hang Seng slipped 0.21%.

The Indian rupee fell 19 paise to 75.08 against the US dollar on Monday.

Upcoming Earnings

Kotak Mahindra Bank, Axis Bank, Bajaj Finance, Canara Bank, Central Bank of India, Jindal Stainless, IRB Infrastructure Developers, Persistent Systems, PI Industries, Ambuja Cements, ABB India, Cipla, Symphony, Torrent Pharmaceuticals, Cera Sanitaryware, Asahi Songwon Colors, Best Agrolife, Birlasoft, Century Enka, Coromandel Engineering, Gati, Greaves Cotton, Greenlam Industries, Hikal, Dr Lal PathLabs, Mahindra Lifespace Developers, Meghmani Finechem, Mahanagar Gas, Meghmani Organics, Mangalore Refinery & Petrochemicals, Nippon Life India Asset Management, Sharda Cropchem, Shiva Cement, Surya Roshni, Triveni Turbine, Wabco India and Zensar Technologies

FII/DII trading data on Monday (25-10-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Tech Mahindra: The company’s consolidated net profit increased 25.7% to Rs 1,338.7 crore in Q2FY22, from Rs 1064.6 crore in the year-ago period. Its revenue from operations was up 16.1% to Rs 10,881.3 crore in the quarter, compared with Rs 9,371.8 crore in the same period last year. The board has proposed a special dividend of Rs 15 per share.

SBI, UCO Bank: The country’s highest was informed that State Bank of India (SBI) and UCO Bank have agreed to invest Rs 450 crore in Amrapali projects. However, other banks, who were part of a consortium, were delaying the process. Senior advocate and court-appointed receiver R. Venkataramani submitted before a bench headed by Justice U.U. Lalit that six banks have agreed in principle, but things have not moved in the desired direction for nearly two months. Venkataramani said that in order to accelerate the process, a little nudge from the top court was needed.

HDFC AMC: The company posted a net profit of Rs Rs 344.5 crore in Q2FY22, up 1.8 % over the same period of last year. Sales rose 18.87% to Rs 542.33 crore in the quarter, as against Rs 456.25 crore during the year-ago period. The quarterly average assets under management rose 17% to Rs 4.39 lakh crore, as against Rs 3.75 lakh crore in the same period last year.

Indus Towers: The company’s Q2FY22 net profit rose 38% to Rs 1559 crore, from Rs 1131 crore in the year-ago period. Its consolidated revenues stood at Rs 6,877 crore in Q2FY22, up about 8 percent year-on-year. “The company continued to improve its operational performance with an increase in net co-locations during the quarter and delivered a strong financial performance”, said Bimal Dayal, Managing Director and CEO of the company.

Aditya Birla Sun Life AMC: The company posted a 38% rise in profit after tax at Rs 173.1 crore in Q2FY22, from a profit after tax of Rs 125.4 crore in the year-ago period. Total revenues increased 28% to Rs 372.2 crore in the reported period, from Rs 291 crore in the same quarter last year The company also declared an interim dividend Rs 5.60 per share for FY22.

Bharti Airtel: The telecom operator is likely to have opted for the four-year moratorium for payment of adjusted gross revenue (AGR) dues. A letter of acceptance was sent by the company to the department of telecommunications (DoT) last week.

Ceat: The company’s consolidated net profit fell 77% to Rs 42.28 crore in Q2FY22 due to higher input costs, as against Rs 182.18 crore in the year-ago period. Consolidated revenue from operations in the quarter rose to Rs 2,451.76 crore, from Rs 1,978.47 crore in the year-ago period. Its board has approved raising of up to Rs 500 crore through issuance of debt securities on a private placement basis.

JSW Steel: The steel maker plans to invest around Rs 150 crore to set up a colour-coated steel facility in Kashmir. The planned downstream manufacturing facility will have a capacity 120,000 tonne per annum and it will also have special lines to produce ‘Steel Sandwich Panels’ and ‘Steel Doors’. Union Minister for Home, Amit Shah also presented land allocation papers to Sajjan Jindal for the same.

HFCL Ltd: Three foreign institutional investors have acquired 2.64% in telecom gear makers HFCL Ltd. The three FIIs are Vanguard, Quant Mutual Fund and Norges. Vanguard bought 1.86%, while Quant acquired 0.55% and Norges 0.23%.

Home First Finance: The company posted a 213% rise in net profit at Rs 45 crore in Q2FY22, from Rs 14 crore in the same quarter a year ago. Its total income grew 34% to Rs 146 crore in Q2FY22, from Rs 109 crore the year-ago period.

Eicher Motors: The company’s shareholders have approved a proposal to re-appoint Siddhartha Lal as the company’s managing director for a period of five years with effect from May 1 this year. The shareholders also cleared the proposal to increase Lal’s remuneration. In the latest round of voting, 93.75% votes favoured for the re-appointment of Lal, while 6.25% opposed the proposal.

SpiceJet : The airline will start operations of 28 domestic flights from October 31. The carrier said new non-stop flights will connect the tourist hotspots of Jaipur, Jaisalmer, Jodhpur, and Udaipur in Rajasthan with key cities as part of its new winter schedule.

Quick Heal Technologies: The security software provider said its consolidated net profit rose 20.1% to Rs 34.6 crore in Q2FY22, from a net profit of Rs 28.8 crore in the year-ago period. Its total revenue grew 23% to Rs 103.8 crore in the reported quarter, from Rs 84.4 crore in the same year last fiscal.

Inox Wind: The company’s arm Inox Wind Infrastructure Services Ltd (IWISL) has inked a share purchase agreement to sell its entire equity stake in six firms to wholly-owned subsidiary Resco Global Wind Services. The six arms are AABPWNE RBRK Investments Ltd, Marut-Shakti Energy India, Sarayu Wind Power (Kondapuram), Sarayu Wind Power (Tallimadugula), Satviki Energy and Vinirrmaa Energy Generation.