Pre Market: Benchmark Indian equity indices likely to open higher; Tata Steel, Adani Group and Indiabulls Housing Finance in focus today

Market Opening - An Overview

SGX Nifty futures were trading 0.26% higher at 17974.50, signalling Dalal Street was headed for a positive start. 

Asian shares were trading higher as technology stocks gained. Japan’s Nikkei rose 1.14% and Topix gained 1.22%. Hang Seng rose 0.50%, while CSI 300 slipped 0.27%.

Indian rupee fell 13 paise to close at 74.51 against the US dollar on Thursday.

Upcoming Earnings

Hero MotoCorp, Ashok Leyland, Hindalco Industries, ONGC, Coal India, Grasim Industries, Amara Raja Batteries, Apollo Hospitals Enterprise, Mrs Bectors Food Specialities, Bharat Forge, Burger King, Force Motors, Glenmark Pharma, Motherson Sumi Systems, NALCO, NBCC, Paras Defence and Suzlon Energy.

FII/DII Trading Data on Thursday (11-11-2021)

CategoryBuy ValueSell ValueNet Value
*All numbers are in INR crore

Stocks in News Today

Tata Steel: The company reported a 661.3% year-on-year jump in consolidated net profit to Rs. 11,918.11 crore in Q2FY22 from Rs 1565 crore in the corresponding quarter last year. Revenue from operations rose 55% to Rs 60,282 crore in Q2FY22 compared with Rs 38,939 crore in the year-ago period. The board has also approved the issuance of one fully paid-up equity share of Tata Steel of face value Rs 10 each for every 15 equity shares of Tata Steel BSL of face value Rs 2.

Adani Group: The group plans to invest $70 billion in the next 10 years to become the world’s largest renewable energy company and produce the cheapest hydrogen on the planet. Adani Green Energy is aiming at 45 gigawatts of renewable energy production capacity by 2030 and will invest $20 billion to develop a 2 GW per year solar manufacturing capacity by 2022-23. Adani Transmission is looking to increase the share of renewable power procurement from the current 3% to 30% by FY2023 and to 70 per cent by FY2030.

Indiabulls Housing Finance: The mortgage finance company’s net profit slipped 11% to Rs 286 crore in Q2FY22 as its loan book declined. The company posted a net profit of Rs 323 crore in the year-ago period. Revenue from operation stood at Rs 2196 crore in Q2FY22, as against Rs 2464 crore in Q2FY21. Gross NPAs stood at 2.69% in the second quarter of FY22 as compared with 2.21% in the previous quarter of last fiscal.

Sundram Fasteners: The auto ancillary company reported a 20% rise in its consolidated net profit in Q2FY22 to Rs 124 crore, from Rs 104 crore in the year-ago period. Its operating revenue jumped 40% to Rs 1,242 crore in Q2FY22 from Rs 889 crore in Q2FY21. The company has a capital expenditure plan of Rs 250 crore for the fiscal year 2022 and is betting on the electric vehicle segment in the domestic market too.

Zee Entertainment Enterprises (ZEEL): The media company registered a consolidated net profit at Rs 270 crore in Q2FY22, up 187% from Rs 94 crore in the same period last fiscal. The revenue rose 15% to Rs 1,979 crore in the reported quarter from Rs 1,723 crore in the same quarter of fiscal 2021.

PTC India: The company’s consolidated net profit edged up to Rs 195.48 in Q2FY22 from Rs 193.64 crore in the year-ago period. Total income stood at Rs 5,474.34 crore in the reported quarter, as against Rs 6,011.39 crore in the same period last financial year. Its board decided an interim dividend of Rs 2 per equity share having a face value of Rs 10 each for FY22.

Power Finance Corp: The company registered a 17% rise in its consolidated net profit of Rs 5,023.42 crore in Q2FY22 on the back of higher revenues. The net profit in the same period last year stood at Rs 4289.74 crore. The total income increased to Rs 19,282.60 crore in Q2FY22 from Rs 18,171.41 crore in the same period a year ago. Its consolidated net NPA declined to 1.72 per cent in H1FY22 from 2.60% in H1FY21 due to the resolution of stressed assets.

Bank of India: The lender said it has disbursed about Rs 12,500 crore as part of the credit outreach programme that was launched on October 16 by all banks across the country on the advice of Finance Minister Nirmala Sitharaman to expand loan growth to support the economic revival. The bank has sanctioned Rs 5,000 crore and disbursed over Rs 4,000 crore in retail, agriculture and MSME segment, while another Rs 8,500 crore disbursal was done in corporate segments.

Ajmera Realty: The company’s consolidated net profit rose 48% to Rs 11.43 crore in Q2FY22 from Rs 7.70 crore in the corresponding quarter of last fiscal. Total income fell to Rs 100.08 crore in the reported quarter of FY22 from Rs 109.32 crore in the same quarter of last fiscal. The company said that the rebound in the economy from the pandemic and low home loan rates have given the company the required traction.