Closing Indices

13th October 2022 

Bse Sensex Closed @ 57235.33 ⬇️ 390.58 Points 

Nse Nifty Closed @ 17014.35 ⬇️ 109.25 Points 

Bank Nifty Closed @ 38624.00 ⬇️ 494.55 Points 

India VIX Closed @ 20.2900 ⬆️ 0.1150 Points

In News

In News

HCL Technologies: The IT services company recorded a 6.3 percent sequential growth in consolidated profit at Rs 3,489 crore and revenue increased by Rs 5.2 percent QoQ to Rs 24,686 crore. The constant currency revenue growth stood at 3.8 percent QoQ and the top line in dollar terms increased by 1.9 percent QoQ to $3,082 million. Total contract value bookings (new deal wins) stood at $2,384 million, up 16 percent QoQ. HCL Tech expects revenue to grow 13.5–14.5 percent YoY in constant currency and EBIT margin guidance revised to 18-19 percent in FY23.

Tata Power: The company is going to develop Tata Motors' seven MW solar project at its Pantnagar manufacturing facility in Uttarakhand. This installation is expected to generate 215 million units of electricity, potentially mitigating over 1.7 lakh tonnes of carbon emissions.

Wipro: The company said IT services segment revenue in constant currency increased by 4.1 percent QoQ in Q2FY23 and dollar revenue rose by 2.27 percent QoQ to $2,797.7 million for the quarter ended September FY23. IT services operating margin for the quarter was at 15.1 percent, an increase of 16 bps QoQ. Profit during the quarter grew by 3.7 percent QoQ to Rs 2,659 crore.

Sterling and Wilson Renewable Energy: The company has won an order from NTPC Renewable Energy (NTPC REL) for its proposed 1,255 MWac and 1,568 MWdc solar PV project at Khavda RE power park, Gujarat. The total value of the project is Rs 2,212 crore. In addition, the company posted a consolidated loss of Rs 298.71 crore for the quarter ended September FY23, widening from a loss of Rs 284.35 crore in the same period last year, whereas revenue for the said quarter stood at Rs 312.69 crore against Rs 1,438.42 crore YoY.

Panacea Biotec: Investor Serum Institute of India offloaded 2.2 percent equity stake in the company via open market transactions on October 11. With this, its shareholding in the company reduced to 7.63 percent, down from 9.83 percent earlier.

Adani Wilmar: The company expects its revenue for September FY23 quarter to grow at low single digit compared to the year-ago period, whereas the first half of FY23 revenues and volumes are expected to register a low double-digit growth. The food and FMCG basket continued its growth trajectory similar to previous quarters registering growth of over 40 percent. Its industry essential business also grew close to 20 percent during the quarter and H1 both.

Suven Life Sciences: The company said the board of directors has approved a rights issue of 7,26,91,239 shares for Rs 399.80 crore. The issue price is Rs 55 per equity share. The rights entitlement ratio is (1:2) one rights equity share for every two shares held by the eligible equity shareholders of the company.

Stocks On Focus

 Stocks On Focus

Govt sources say: Haven't yet decided sugar export policy for next season from Oct 2022 to Sep 2023. Decision to be taken soon on sugar export policy for next sugar season.

Coal Minister: India likely to become Aatmanirbhar in thermal coal production in coming months. 40 MT coal stock will be available with thermal power plants by March 2023. As on Oct 1, coal stock with thermal plants was 24 MT.

PTC INDIA : We aim to increase share of renewable energy in our portfolio. Renewable itself not good enough to supply power 24×7, have to balance, says Cmd PTC INDIA.

STERLING & WILSON: SWRE wins order worth INR 2,212 crore from NTPC REL.

Adani wilmar says weak Q2 is expected with low single digit revenue growth.

RELIANCE POWER : RELIANCE POWER LIMITED (RPL) AND ITS SUBSIDIARIES EXECUTE DEFINITIVE DOCUMENTS TO RAISE DEBT OF ABOUT RS.1,000 CRORE FROM VARDE PARTNERS PROCEEDS TO BE USED TO SETTLE DEBT.

Key Events

Key events this week:

Earnings this week include: JPMorgan Chase & Co., Citigroup Inc., Morgan Stanley, BlackRock Inc., Delta Air Lines Inc., UnitedHealth Group Inc., U.S. Bancorp, Wells Fargo & Co.

FOMC minutes for September meeting, Wednesday

Fed’s Michelle Bowman and Neel Kashkari speak

ECB’s Christine Lagarde speaks

US CPI, initial jobless claims, Thursday

G-20 finance ministers and central bankers meet, Thursday

China CPI, PPI, trade, Friday

US retail sales, business inventories, University of Michigan consumer sentiment, Friday

BOE emergency bond buying is set to end, Friday

Some of the main moves in markets:

Stocks

The S&P 500 rose 0.3% as of 1:09 p.m. New York time

The Nasdaq 100 rose 0.4%

The Dow Jones Industrial Average rose 0.4%

The MSCI World index was little changed

Currencies

The Bloomberg Dollar Spot Index was little changed

The euro fell 0.2% to $0.9684

The British pound rose 0.9% to $1.1070

The Japanese yen fell 0.7% to 146.91 per dollar

Cryptocurrencies

Bitcoin rose 0.5% to $19,109.94

Ether rose 1% to $1,295.02

Bonds

The yield on 10-year Treasuries declined two basis points to 3.92%

Germany’s 10-year yield advanced two basis points to 2.31%

Britain’s 10-year yield was little changed at 4.44%

Commodities

West Texas Intermediate crude fell 2.6% to $86.99 a barrel

Gold futures fell 0.6% to $1,676.70 an ounce .