Benchmark indices closed higher for the fourth consecutive session on November 1 with the Nifty above 18,100. At close, the Sensex was up 374.76 points or 0.62 percent at 61,121.35, and the Nifty was up 133.20 points or 0.74 percent at 18,145.40.
2/11
Tata Steel | CMP: Rs 101.20 | The stock ended in the red on November 1. The steel major reported an 87 percent on-year decline in consolidated net profit at Rs 1,514 crore for the September quarter. Tata Steel's profit declined 80 percent sequentially. Consolidated revenue remained flat with a marginal decline of 1 percent year-on-year to Rs 59,878 crore. It was down 6 percent on-quarter. CLSA has downgraded the stock to 'sell' and cut the target price to Rs 90 from Rs 110 per share.
3/11
Adani Ports | CMP: Rs 840.90 | The share price was up over 2 percent after the firm reported a strong set of quarterly numbers on a YoY basis. Its consolidated net profit for the September quarter jumped 68.5 percent YoY to Rs 1,677.48 crore. Consolidated revenue from operations grew 32.8 percent to Rs 5,210.80 crore on the back of cargo volume growth. Revenue from the company’s Port and SEZ activities rose to Rs 4,609.29 crore in the September quarter from Rs 3,530.68 crore last year.
4/11
Tech Mahindra | CMP: Rs 1,067.95 | The stock ended in the green after the firm declared its September quarter earnings. The company reported a 4 percent year-on-year fall in consolidated net profit at Rs 1,285 crore for the quarter ended September 30, higher than analysts' estimate of Rs 1,224 crore. Sequentially, net profit jumped 13.6 percent from Rs 1131.6 crore in the June quarter. Consolidated revenue from operations for the quarter came in at Rs 13,129.5 crore, higher by 3.3 percent sequentially and 20.6 percent year-on-year. Revenue stood at Rs 10,881.3 crore in the same quarter last fiscal. In dollar terms, the company's revenue stood at $1,638 million, up 0.3 percent QoQ and up 11.2 percent YoY, broadly in-line with analyst estimates. In constant currency terms, revenue growth came in at 2.9 percent QoQ.
Sun Pharmaceutical Industries | CMP: Rs 1,033 | The scrip ended in the green on November 1. The company reported an 8.2 percent year-on-year rise in consolidated net profit to Rs 2,260 crore for the quarter ended September, higher than analysts' estimate of Rs 1,968.4 crore. The drugmaker reported a 13.8 percent growth in consolidated revenue from operations to Rs 10,952.3 crore for the quarter, in line with analysts' estimates. During the quarter, the company booked foreign exchange-related losses of Rs 240 crore as against Rs 76 crore in the year-ago quarter, the company said.
6/11
UPL | CMP: Rs 718.30 | The stock ended in the red on November 1. The firm reported a 28.4 percent year-on-year rise in consolidated net profit at Rs 814 crore, slightly lower than analyst expectations of Rs 831 crore. Net profit stood at Rs 633 crore in the same quarter last fiscal. The company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for Q2FY23 stands at Rs 2,768 crore and EBITDA margin at 22.1 percent as against 19.4 percent in the year-ago period. The company's gross debt as of September 30 stood at Rs 32,550 crore, an increase from Rs 30,123 crore at the end of the June quarter. Net debt also increased to Rs 28,512 crore from Rs 26,480 crore in the June quarter.
7/11
Balrampur Chini | CMP: Rs 331 | The share price jumped over 4 percent after the company said that a meeting of the board of directors will be held on November 9, 2022, to consider the Standalone and Consolidated Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2022, and buyback of Equity Shares of the company and matters related/ incidental thereto, it said in an exchange filing.
8/11
Punjab National Bank | CMP: Rs 40 | The stock fell over 6 percent after the bank reported a 63 percent decline in standalone net profit to Rs 411 crore for the September quarter on account of higher provisioning for bad loans. Total income in the second quarter of the current fiscal increased to Rs 23,001.26 crore as against Rs 21,262.32 in the July-September period a year ago, PNB said in a regulatory filing. Provisions for bad loans increased to Rs 3,555.98 crore in the July-September quarter of FY23 as against Rs 2,692.74 crore in the year-ago period.
Tata Motors | CMP: Rs 421 | The scrip added 2 percent on November 1. The auto major reported a 15.49 percent rise in total sales at 78,335 units in October 2022. The company had sold a total of 67,829 units in the same month last year, Tata Motors said in a statement. Total domestic sales were at 76,537 units as against 65,151 units in the year-ago month, a growth of 17 percent, it added. Passenger vehicle (PV) sales, including electric vehicles, in the domestic market were at 45,423 units as compared to 34,155 units in the same month last year, up 33 percent.
10/11
Fsn E-Commerce Ventures (Nykaa) | CMP: Rs 1,180 | The stock price rose over 2 percent after the company reported a 350 percent jump in September-quarter net profit on Tuesday, boosted by strong demand for its products ahead of the festive season. Consolidated net profit stood at Rs 5.2 crore for the quarter ended September 30, compared with Rs 1.17 crore a year earlier. The company's quarterly revenue from operations recorded a 39 percent year-on-year increase to Rs 1,230.8 crore.
11/11
Varun Beverages | CMP: Rs 1,102 | The share price jumped over 5 percent after the firm reported a better-than-expected third-quarter profit on Tuesday as the Pepsi bottler benefited from price increases it had implemented to protect its margins. Profit grew by 59 percent to $46.1 million in the three months ended September 30. Revenue from operations increased 33 percent to Rs 32.48 billion for the company, which makes and bottles several PepsiCo Inc-branded drinks such as Mirinda, Mountain Dew, and Tropicana.
