• Announcements
  • Economy
  • Investment
  • IPOs
  • Weekly Markets
  • Products
  • Morninger
  • Eveninger
  • Industry
  • refer
  • 7824-003-757
  • Download App Get App
  • Contact
Flattrade Kosh Flattrade Kosh
Open Account
Flattrade Kosh Flattrade Kosh
Open Account
Flattrade Kosh Flattrade Kosh
Open Account
Flattrade Kosh
Open Account
Flattrade Kosh > Morninger > Pre Market Report: GIFT Nifty indicates lower opening for Indian markets; ITC, HUL, Jindal Stainless in news
Morninger

Pre Market Report: GIFT Nifty indicates lower opening for Indian markets; ITC, HUL, Jindal Stainless in news

Posted by Flattrade October 20, 2023
Share on
READ NEXT
Post Market Report: Dalal Street ends higher on earnings optimism; Bajaj Finance, Titan, Newgen Software in news

Market Opening - An Overview

GIFT Nifty Futures on the NSE IX were trading 0.23% lower at 19510, signalling that Dalal Street was headed for negative start on Friday.

Asian shares were trading lower as investors weighed the Federal Reserve Chair Jerome Powell’s recent comments on monetary policy and were worried over higher inflation amid strong US economy. The Nikkei 225 index fell 0.58% and the Topix lost 0.6%. The CSI 300 shed 0.48% and the Hang Seng was down 0.77%.

The India rupee rose 3 paise to 83.24 against the US dollar on Thursday.

FII/DII Trading Data

Foreign institutional investors (FII) were net sellers worth Rs 1,093.47 crore, while domestic institutional investors (DII) were net buyers for Rs 736.15 crore in the cash segment on October 19, according to provisional data from the National Stock Exchange (NSE). 

Stocks in News Today

ITC: The company reported a 10.3% YoY rise in net profit at Rs 4,927 crore in Q2FY24. Revenue from operations increased 2.6% YoY to Rs 16,550 crore. Operating profit rose 1% YoY Rs 4,886.54 crore. Operating margin contracted by 44 basis points year-on-year to 29.53%. Cigarette business revenue grew 10% YoY to Rs 7,658 crore in Q2FY24, while the non-cigarette FMCG business revenue grew 8.3% on year to Rs 5,292 crore. Paper and paperboards business revenue declined 9.5% YoY year to Rs 2,070 crore, while its agriculture business reported a decline of 2% in revenue to Rs 3,931 crore.

Hindustan Unilever (HUL): The FMCG company recorded a 3.9% YoY in standalone profit at Rs 2,717 crore for the quarter ended September FY24. Standalone revenue from operations rose 3.6% YoY to Rs 15,276 crore for the quarter. Meanwhile, the board has approved an interim dividend of Rs 18 per share for the year.

Jindal Stainless: The company has recorded a 74% YoY growth in standalone net profit at Rs 609 crore for the quarter ended September FY24. Its revenue rose 14% YoY to Rs 9,720 crore and EBITDA jumped 54% to Rs 1,070 crore in Q2FY24. The standalone sales volume during the quarter under review stood at 5,43,619 metric tonnes (MT), up 26% YoY helped by strong domestic demand.

Tata Motors: Tata Motors and Freight Commerce Solutions Private Limited (‘Freight Tiger’) have signed a Securities Subscription Agreement (SSA) and a Shareholders Agreement (SHA) for the acquisition of 26.79% stake in ‘Freight Tiger’ for a consideration of Rs 150 Crores. The SSA also includes a provision enabling Tata Motors to further invest Rs 100 crore over the next two years, at the then prevailing market value.

Grasim Industries: The company has received a Rs 141 crore demand notice from the Rajasthan Stamps Collector for non-payment of stamp duty on a scheme of arrangement between Indian Rayon and the company from FY1999.

United Breweries: The liquor maker reported a consolidated revenue of Rs 1,890.05 crore in Q2FY24, up 14.13% from Rs 1,682.31 crore. Consolidated Ebitda fell 16.02% to Rs 184.29 crore in Q2FY24 as against Rs 219.42 crore in Q2FY23. Consolidated net profit fell 20.09% to Rs 107.17 crore in Q2FY24 as against Rs 134.12 crore in Q2FY23.

Voltas: The AC manufacturer said its consolidated Revenue was up 29.65% at Rs 2,292.75 crore in Q2FY24 as against Rs 1,768.36 crore in Q2FY23. Consolidated Ebitda fell 30.32% to Rs 70.26 crore in Q2FY24 from Rs 100.84 crore in Q2FY23. Consolidated net profit was Rs 35.65 crore in Q2FY24 compared with a loss of Rs 6.04 crore in Q2FY23.

Tata Coffee: The company reported a 151.14% decline in consolidated net profit to Rs 56.70 crore in Q2FY24 as against a consolidated net profit stood of Rs 142.40 crore in the corresponding period a year ago. Its revenue from operations fell 3.1% to Rs 695.95 crore during the quarter under review compared to Rs 718.26 crore in the year-ago period.

Tata Communications: The company’s consolidated revenue was up 2.11% QoQ at Rs 4,872.5 crore in Q2FY24 as against Rs 4,771.36 crore in the preceding quarter. COnsolidated EBIT fell 7.65% at Rs 410.33 crore in Q2FY24 as against Rs 444.29 crore in Q1FY24. Consolidated net profit for the period under review declined 42.04% to Rs 221.26 crore in Q2FY24 as against Rs 381.75 crore in the previous quarter of current fiscal.

Indoco Remedies: The US drug regulator has conducted a pre-approval inspection at the company’s solid oral formulation facility in Goa between October 12 and OCtober 18. The USFDA has issued four observations in Form 483 after the said inspection.

Havells India: The company has registered a 33% YoY growth in net profit at Rs 249 crore for the quarter ended September FY24. Revenue from operations increased by 6% to Rs 3,891 crore in Q2FY24. Ebitda jumped 30.15% at Rs 373.35 crore in Q2FY24 as against Rs 286.85 crore in Q2FY23.

Cyient: The consolidated net profit rose 132.11% to Rs 183.6 crore in Q2FY24 compared to Rs 79.1 crore in the corresponding quarter of previous year. Revenue from operations stood at Rs 1,778.5 crore in Q2FY24, compared to Rs 1,396.2 crore in the yearpago period. The company’s board has approved the merger of wholly-owned arms Citec Engineering and Cyient Insights. The board also has approved payment of an interim dividend of Rs 12 per share.

Natco Pharma: The USFDA has conducted an inspection at company’s pharma division in Kothur, Hyderabad, between October 9 and October 18. At the end of the inspection, the facility received eight observations and the company said that it is working with the USFDA to close them at the earliest.

Tata Steel: The company has executed a Share Purchase & Shareholders’ Agreement with Tata Power Renewable Energy Ltd. and its wholly owned subsidiary, TP Vardhaman Surya Ltd. to acquire 13,000 equity shares of face value Rs 10 each of TP Vardhaman Surya, i.e., 26% equity shareholding, for an aggregate consideration of approximately Rs 1.3 lakh. Further, NCLT has approved the merger of Tata Steel and Tata Steel Long Products.

RVNL: The company said its JV company secured a contract worth Rs 174.27 crore from the Vadodara Division of Western Railway for civil engineering works in Gujarat and the project is expected to be executed in 24 months.

Gulf Oil: The company and S-Oil Seven have signed an agreement to expand business in India. Under the partnership, Gulf Oil will oversee the production, distribution, and promotion of OEMs like the KIA India dealer network. Gulf also has the exclusive rights to manufacture and distribute the S-OIL SEVEN range throughout its network.

Gati: The company informed that the company has received approval from the Registrar of Companies, Hyderabad, effecting the change of name of the company from :Gati Limited” to “Allcargo Gati Limited” w.e.f. October 19, 2023.

Tejas Networks: The company informed that it has received purchase order from Tata Consultancy Services Limited (TCS) for an amount of Rs. 107.73 crore towards supply of equipment for BSNL’s Pan-India 4G/5G network and as a part of Master Contract executed between TCS and Tejas Networks in August 2023.

Elecon Engineering: The company informed that the company has received an order worth Rs. 51.41 crore from Arcelormittal Nippon Steel India Limited (AMNS), Hazira, Gujarat, India for supply and supervision of Pipe Conveyor System at its Hazira Plant, Gujarat

Vakrangee: The company has entered into a partnership agreement with Karnataka Bank Limited to provide BC Banking services from Vakrangee Kendra outlets across India.

CCL Products: The company inform that the NCLT, Hyderabad Bench and Amaravati Bench, have sanctioned the Scheme of Arrangement (Demerger) between Continental Coffee Private Limited (Demerged Company) and CCL Products (India) Limited (Resulting Company) and their respective shareholders & creditors.

PTC India: The company’s board has approved the sale of PTC Energy Limited, a subsidiary of the company, to ONGC at an equity value of Rs 925 crore. The acquisition is subject to shareholders’ approval of the company.

HFCL: The company’s revenue was down 10.51% at Rs 1,001.76 crore in Q2FY24 as against Rs 1,119.35 crore in Q2FY23. Ebitda fell 24.71% to Rs 114.25 crore in Q2FY24 from Rs 151.74 crore in Q2FY23. Consolidated net profit declined 10.93% to Rs 67.55 crore in Q2FY24 from Rs 75.84 crore in Q2FY23.

Tanla Platforms: The company’s consolidated revenue was up 10.69% YoY at Rs 1,008.59 crore in Q2FY24 as against Rs 911.11 crore in Q1FY24. EBIT was up 5.07% QoQ at Rs 174.19 crore in hte quarter under review. Consolidated net profit was up 5.27% at Rs 142.54 crore in Q2FY24 as agianst Rs 135.4 crore in Q1FY24.

Metro Brands: The footwear retailer posted a consolidated revenue of Rs 555.7 crore in Q2FY24, a rise of 16.7% from Rs 476.31 crore in Q2FY23. Consolidated Ebitda was up 12.38% YoY to Rs 165.37 crore in Q2FY24 from Rs 147.15 crore in the year-ago period. Consolidated net profit fell 13.18% to Rs 67.62 crore in the quarter under review from Rs 77.89 crore in the year-ago period.

Open a Free Demat Account
Tags: BSE COMMODITIES Demat Account Earnings Economy Flattrade Forex Forex trading Market News Market Update Markets nifty nifty futures Nifty Today NSE Opening Bell options Pre Market sensex SENSEX Today Share Market Stock Market stocks Trading Account
Share on
Share on Facebook Share on Twitter Share on Pinterest Share on Email
Flattrade October 20, 2023
Previous Article Post Market Report: Sensex, Nifty close lower on geopolitical tensions; UltraTech Cement, Nestle India, PVR Inox in news
Next Article Weekly Market Report: Dalal Street falls on weak global cues; HDFC Bank, Bajaj Finance, ITC in news

You Might Also Enjoy

Morninger

Gift Nifty indicates a negative start for the Indian market; US Market ended with gains; Asian market open higher following the wall street

May 9, 2025
Morninger

Gift Nifty indicates a muted start for the Indian market; US Market ended lower; Asian market open mixed

May 8, 2025
Morninger

Gift Nifty indicates a slower start for the Indian market; US Market ended lower; Asian market open mixed

May 7, 2025
Morninger

Gift Nifty indicates a positive start for the Indian market; US Market ended higher; Asian market open muted

May 5, 2025

Fortune Capital Services Private Ltd. SEBI Registration No. INZ000201438. Member Code for NSE: 14572 BSE:6524 MCX: 16765 and ICEX: 2010. CDSL DP ID: 12080300 SEBI Registration No.IN-DP-CDSL-729-2014. Registered Office: Kochar Technology Park, 6th Floor, SP-31-A, 1st Cross Road, Ambattur Industrial Estate, Ambattur, Chennai – 600 058. For any complaints pertaining to stock broking please write to [email protected] and for DP related to [email protected] Please ensure to read the Risk Disclosure Document carefully as prescribed by SEBI.

“Procedure to file a complaint on SEBI SCORES: Register on SCORES portal. Mandatory details for filing complaints on SCORES: Name, PAN, Address, Mobile Number, E-mail ID. Benefits: Effective Communication, Speedy redressal of the grievances”

“Prevent unauthorised transactions in your account, update your mobile numbers/email IDs with your Stockbroker/Depository Participant. Receive information of your transactions directly from Exchange/Depository on your mobile/ email at the end of the day. Issued in the interest of investors”. As a business we do not give stock tips and have not authorized anyone to trade on behalf of others. If you find anyone claiming to be part of FLATTRADE and offering such services, please email to [email protected]. “KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.” Dear Investor, if you are subscribing to an IPO, there is no need to issue a cheque. Please write the Bank account number and sign the IPO application form to authorize your bank to make payment in case of allotment. In case of non-allotment, the funds will remain in your bank account.


“Attention Investors 1. Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020. 2.Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge. 3. Pay 20% upfront margin of the transaction value to trade in cash market segment 4. Investors may please refer to the Exchange’s Frequently Asked Questions (FAQs) issued vide circular reference NSE/INSP/45191 dated July 31, 2020 and NSE/INSP/45534 dated August 31, 2020 and other guidelines issued from time to time in this regard. 5. Check your Securities /MF/ Bonds in the consolidated account statement issued by NSDL/CDSL every month. Issued in the interest of Investors”

Disclaimer: ‘Investment in securities market are subject to market risks, read all the related documents carefully before investing’.

“Investment in Mutual Fund market are subject to market risk. There is no guaranteed or assured rate of return. Past Performance is not indication of future returns. Please read all related documents carefully before investing”.

“The securities quoted are exemplary and are not recommendatory”.


“Brokerage will not exceed the SEBI prescribed limit”.

Registered Office:

Fortune Capital Services Pvt Ltd
Kochar Technology Park, 6 th Floor,
1 st Cross Road, Ambattur Industrial Estate,
Ambattur, Chennai – 600058.

Company

  • Home
  • About
  • Kosh
  • IPO
  • Services
  • Pricing
  • List of Charges
  • Contact

Useful Links

  • Brokerage Calculator
  • Downloads
  • Margin Details
  • Fund Transfer
  • Knowledge Center
  • Refer & Earn
  • Investor Charter

Quick Contact

Support Number:
044-61329696 / 044-35019696

Support Email: [email protected]

Join our Telegram Channel for trading related activities and information.