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Market Opening - An Overview
Nifty futures on the Singapore Exchange were trading 0.03% lower at 18,132, signalling that Dalal Street was headed for a flat to negative opening on Tuesday.
Most Asian shares were trading higher, tracking Wall Street rally as investors were buoyed by the passage of infrastructure bill. Japan’s Nikkei was up 0.10%, while Topix slipped 0.08%. Hang Seng rose 0.14% and CSI 300 was down 0.20%.
Indian rupee was up 44 paise against the US dollar to close at 74.03 on Monday.
Upcoming Earnings
Power Grid Corporation, Mahindra & Mahindra, Bosch, Astrazeneca Pharma, BHEL, HEG, Indraprastha Gas, MRF, Petronet LNG, Hindustan Copper, IDFC Ltd., Procter & Gamble Health Ltd. HEG Ltd.
FII/DII trading data on Monday (08-11-2021)
| Category | Buy Value | Sell Value | Net Value |
| FII/FPI | 12747.47 | 13608.12 | -860.65 |
| DII | 6933.85 | 5022.08 | 1911.77 |
| *All numbers are in INR crore | |||
Stocks in News Today
Reliance Industries: The company said it will divest its upstream oil and gas business in the United States. Its step-down subsidiary Reliance Eagleford Upstream Holding has signed a sale agreement with Ensign Operating III to sell its interest in certain upstream assets in the Eagleford of Texas, USA. The company did not disclose the transaction value.
EID Parry: The company’s consolidated net profit fell 17% to Rs 470 crore in Q2FY22 from Rs 563 crore in the year-ago period. The company’s total income in the second quarter was up 20 per cent to Rs 7,005 crore from Rs 5,850 crore in the same quarter last year. The company noted that its operating performance was affected by reduced export sales and lower release order quota allocation.
Britannia: The biscuit manufacturer posted a 22.9% YoY fall in its consolidated net profit to Rs 384.22 crore in Q2FY22. Its operating revenue rose 5.5% YoY to Rs 3607.4 crore. The company’s raw material cost for the quarter rose over 8 per cent YoY to Rs. 1,914.7 crore.
Maruti Suzuki: The car manufacturer will decide by the end of this calendar year whether to set up a Rs 18,000 crore new manufacturing facility in Haryana with the state government reducing the gross salary cap to Rs 30,000 per month in its 75 per cent job reservation policy for locals, company Chairman RC Bhargava said. While terming the reduction in the gross salary cap as a “positive development”, Bhargava said some details are yet to be worked out.
Future Group: The group companies on the order of NCLT have deferred meetings of their respective shareholders and creditors, called on November 10 and 11, for getting approval for the proposed merger into Future Enterprises as part of the Rs 24,713 crore deal with Reliance Retail, according to regulatory filings. The Mumbai Bench of the National Company Law Tribunal (NCLT) said that Future group firms will not hold any meeting until final order is pronounced on the applications
Sobha Ltd: The company’s consolidated net profit surged to Rs 48.3 crore in Q2FY22 from Rs 16.2 crore in the year-ago period. Total income increased to Rs 832.3 crore in the second quarter in FY22, from Rs 545.9 crore in the corresponding period last year. The company plans to raise Rs 140 crore through unlisted secured non-convertible redeemable debentures (NCDs) on a private placement basis.
Aurobindo Pharma: The drugmaker reported a 13.69 per cent fall in its consolidated net profit to Rs 696.71 crore in Q2FY22 due to decline in sales in the growth markets and its anti-retroviral business. It posted a net profit of Rs 807.25 crore in the corresponding period last year. Consolidated total operating revenue in the quarter was Rs 5,941.92 crore, compared with Rs 6,483.44 crore in the same period last year.
Ujjivan Small Finance Bank (SFB): The lender posted a net loss of Rs 274 crore in Q2FY22 due to decline in interest margin and higher of provisions for stressed loans. It had booked a net profit of Rs 96 crore in the second quarter of previous financial year. Its net interest income (NII) fell sharply to Rs 391 crore in Q2FF22 from Rs 470 crore in Q2FY21. NIM fell to 8.1% in the reported quarter from 10.2% in the year-ago period.
SBI Card: The company plans to raise funds of Rs 200 crore through issuing bonds on a private placement basis. The company will issue non-convertible debentures (NCDs), aggregating to Rs 2,000 crore and the funds will be raised through one or more tranches, according to the company.
Karur Vysya Bank: The lender’s net profit rose 43.5% to Rs 165 crore in Q2FY22 from Rs 115 crore in the year-ago period. The rise in net profit was attributed to increase in the retail and business loans as well as fall in bad loan provisioning. Gross non-performing assets (NPAs) declined to 7.38 per cent of the gross advances, from 7.93 per cent in the year ago period.
Pricol Ltd: The auto parts maker’s net profit plunged 64% to Rs 13 crore in Q2FY22, from Rs 21.3 crore in the same period last fiscal. The fall was attributed to semiconductor crisis and the Covid-19 pandemic. Its total income rose slightly to Rs 390 crore during the quarter from Rs 387 crore in the year-ago period.