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Market Opening - An Overview
GIFT Nifty Future on the NSE IX was trading lower by 0.14% at 19,453.50, hinting that Dalal Street was headed for negative start on Tuesday.
Most Asian shares were trading lower amid a rise in bond yields. The Nikkei 225 index fell 0.96% and the Topix was down 0.75%. The Hang Seng tumbled 1.24% and the CSI 300 index dropped by 0.5%.
The Indian rupee rose 7 paise to 83.22 against the US dollar on Monday.
FII/DII Trading Data
Stocks in News Today
Hindustan Petroleum Corporation Ltd (HPCL): The state-owned oil refiner reported a consolidated net profit of Rs 5,826.96 crore in Q2FY24 compared to a net loss of Rs 2,475.69 crore in the year-ago period. Revenue from operations fell to Rs 1.02 lakh crore in Q2FY24 from Rs 1.13 lakh crore in the year-ago period due to lower oil prices. HPCL said its gross refining margin stood at $10.49 per barrel in the reported quarter compared to a gross refining margin of $12.62 in the corresponding period last year. In the reported quarter, the refinery throughput was 5.75 million tonne versus 4.49 million tonne in Q2FY23.
Adani Energy Solutions: The company reported a 34% YoY rise in consolidated net profit for the quarter ended September 2023 to Rs 276 crore. Revenue from operations rose nearly 13% YoY to Rs 3,674 crore in Q2FY24. Other income for the quarter stood at Rs 93 crore, compared with Rs 125 crore in the same period last fiscal. The transmission business segment recorded a 17% YoY growth in revenue to Rs 1,017.4 crore, while the its generation, transmission and distribution (GTD) business saw a 15% revenue growth to Rs 2,480 crore. Its consolidated Ebitda grew by 10% to Rs 1,368 crore, while the net debt-to-Ebitda ratio stood at 3.8x as of end of September 2023.
Bajaj Finance: The NBFC said it has launched a qualified institutions placement (QIP) on November 6 for raising capital. The floor price has been fixed at Rs. 7,533.81 per share. The firm may offer a discount of up to 5% on the floor price and the fund raised from the QIP issue may be around Rs 8,800 crore, according to various media reports.
FSN E-commerce (Nykaa): The company posted 50% growth in its consolidated net profit at Rs 7.8 crore for the quarter ended September as against Rs 5.1 crore posted in the year-ago period. Revenue from operations increased 22% to Rs 1,507 crore in the July-September period, compared with Rs 1,231 crore in the same period of last year. The company has reported an Ebitda growth of Rs 32% YoY to Rs 80.6 crore in the reporting quarter, while Ebitda margin expanded by 38 basis points to 5.4% in the same period. The gross merchandise value (GMV) jumped 25% YoY to Rs 2,943 crore in the reporting period. Physical retail business continued to expand with 13 new stores launched in the quarter, totalling 165 stores as of September 2023. The retail business now constitutes 8% of the overall BPC GMV.
NHPC: The state-owned power generation company has registered a consolidated profit of Rs 1,546 crore in Q2FY24, up 0.7% over the year-ago period. Its consolidated revenue from operations increased by 11.6% YoY to Rs 2,931.3 crore during the quarter under review. Meanwhile, the company’s board has given the green signal for the formation of a joint venture company between NHPC and Andhra Pradesh Power Generation Corporation.
Max Healthcare: The company posted 26% YoY rise in net profit at Rs 338 crore in Q2FY24, driven by higher average revenue per occupied bed (ARPOB) and better specialty mix. The company had reported a net profit of Rs 267 crore in Q2FY23. Gross revenue rose 17% to Rs 1827 crore during Q2FY24 compared to Rs 1,567 crore in the same period last fiscal. Ebitda increased 21% YoY to Rs 497 crore, while Ebitda margin improved 100 basis points YoY to 28.7% in Q2FY24. In Q2FY24, the share of international patient revenues grew 25% YoY and stood at 9%.
Gujarat State Petronet: The gas transmission company has reported a consolidated net profit of Rs 590.4 crore for the quarter ended September FY24, growing 36% QoQ. Revenue from operations grew by 3.8% sequentially to Rs 4,265.2 crore for the quarter ended September 2023.
Emami: The FMCG company has registered a 3.1% YoY fall in consolidated net profit at Rs 178.5 crore in Q2FY24. Consolidated revenue from operations increased by 6% YoY to Rs 864.5 crore in Q2FY24, with domestic business growing 4% and oversees business increasing by 12%. Ebitda jumped 20% YoY to Rs 234 crore, while Ebitda margin expanded by 300 basis points to 27% during the reported quarter.
Redington: The technology solutions provider has recorded a consolidated net profit of Rs 311.6 crore for the quarter ended September FY24, down by 20.5% YoY due to weak operating performance. Revenue from operations grew by 16.6% YoY to Rs 22,220 crore in the quarter under review.
Gland Pharma: The drugmaker posted recorded a consolidated net profit of Rs 194.1 crore in Q2FY24, down 20% due to weak operating margin performance. Its consolidated revenue from operations increased 32% YoY to Rs 1,373.4 crore in Q2FY24.
Ujjivan Financial Services: The NBFC recorded a consolidated net profit of Rs 225.8 crore in Q2FY24, declining 12% compared to the year-ago period due to impairments on financial instruments. Revenue from operations grew by 44% YoY to Rs 1,496.2 crore during the quarter under review.