14th October 2022
Bse India Closed @ 57919.97 ⬆️ 684.64 Points
Nse Nifty Closed @ 17185.70 ⬆️ 171.35 Points
Bank Nifty Closed @ 39305.60 ⬆️ 681.60 Points
India VIX Closed @ 18.2575 ⬇️ 2.0325 Points
Weekly 10 -- 14th October 2022
Bse India Closed @ 57919.97 ⬇️ 271.32 Points
Nse Nifty Closed @ 17185.70 ⬇️ 128.95 Points Bank
Nifty Closed @ 39305.60 ⬆️ 127.55 Points
India VIX Closed @ 18.2575 ⬇️ 0.5550 Points
Stocks To Trade
Coal India Signs MoU to Set Up 1,190 MW Solar Plant in Rajasthan
Infosys Hikes Sales Outlook, Defying Recession Fears
Expects revenue to grow by 15%-16% vs 14%-16% in FY23
Singapore Airlines, Tata in Talks on Vistara, Air India Pact
Reliance Said to Be Sole Bidder For Metro’s India Business (1)
CP Group had also been in discussions for $1.2b unit
Adani Transmission’s S&P Rating Withdrawn at Firm’s Request
Global Funds Sell Net INR16.4B of India Stocks on Thursday: NSE
Domestic funds buy net 7.53b rupees of stocks
NHAI InvIT looks to raise additional INR38b, Nitin Gadkari: PTI
EAM Jaishankar to pay two-day visit to Egypt: PTI
Highway construction slows to 19.44 km/day during April-Sept: PTI
12pm: India Sept. Wholesale Price Inflation Y/y, est. 11.30%, prior 12.41%
10/14-10/17: India Sept. Trade Balance, est. - $26.6b, prior -$28b
India September Exports Y/y; prior 1.6%
India September Imports Y/y; prior 37.3%
Cyient (CYL):2Q net income -35% Y/y to 791m rupees, mises est. 1.2b; revenue +26% to 14b; to pay INR10/share dividend
HDFC Life Insurance (HDFCLIFE): Gets IRDAI’s final approvals for Exide Life merger with the company
Infosys (INFO): 2Q net income +11% Y/y to 60.2b rupees, beats est. 59.02b; revenue +23% to 365.4b; dividend INR16.50/shr; approves share buyback of 93b rupees at up to INR1,850/share via open market
Mindtree (MTCL): 2Q net income +28% Y/y to 5.09b rupees, beats estimate 4.77b
NLC India (NLC): In pact with BHEL for lignite gasification technology
Today's Corporate Action 14th Oct Ex Date
Veeram Securities Ltd Bonus issue 1:2
Today's Key Results 14-Oct-22
AMAL General
BAJAJ-AUTO* Quarterly Results
CHARMS Quarterly Results
DRCSYSTEMS Quarterly Results;General
FEDERALBNK Quarterly Results
PLASTIBLEN Quarterly Results
ROJL Half Yearly Results
SHREECEM Quarterly Results
SUKHJITS General
SYSCO General
TATAELXSI Quarterly Results
Stocks in News
Infosys: The IT services company reported earnings (except topline) higher than analysts' estimates for Q2FY23 with profit climbing 12.3% sequentially to Rs 6,021 crore and revenue growing 6% QoQ to Rs 36,538 crore. Revenue in dollar terms increased by 2.5% QoQ to $4,555 million and the constant currency revenue growth was at 4% in Q2FY23. Company recorded robust large deal total contract value for the quarter at $2.7 billion, the highest in last 7 quarters, against $1.7 billion in previous quarter, while it revised constant currency revenue guidance to 15-16% for current financial year FY23, from 14-16% earlier, and expects operating margin for FY23 in the range of 21-22%, against 21-23% earlier.
Mindtree: The midcap IT services company reported earnings better than analysts' estimates for the quarter ended September FY23 with profit rising 7.9% sequentially to Rs 508.7 crore and revenue in rupee terms growing 8.9% QoQ to Rs 3,400.4 crore. The revenue in dollar terms grew by 5.7% QoQ to $422.1 million for the quarter, while the operating profit increased by 8.8% to Rs 650.6 crore and margin dipped to 19.13% in Q2FY23, from 19.2% in Q1FY23. Attrition rate dropped to 17.7% versus 24.5% on sequential basis.
Angel One: The company posted a 17.7% sequential growth in profit at Rs 213.6 crore for the quarter ended September FY23, with consolidated total income growing 9 percent QoQ to Rs 745.9 crore during the same period. It reported gross addition of around 1.2 million clients in Q2FY23, crossing 11 million mark in total client base during the quarter. The company announced second interim dividend of Rs 9 per share, which is equivalent to 35% of consolidated profit for the quarter.
Den Networks: The digital cable TV service provider has recorded a 27.7% year-on-year growth in consolidated profit at Rs 48.12 crore for the quarter ended September FY23 due to lower tax expenses and loss by associates, but revenue declined 11.6% to Rs 287.3 crore during the same period.
Anand Rathi Wealth: The company reported a 8.15% sequential growth in consolidated profit at Rs 42.95 crore for the quarter ended September FY23, and revenue grew by 3.4% to Rs 136 crore compared to year-ago period. Operating profit also registered a 8.4% QoQ growth at Rs 60.4 crore for the quarter.
HDFC Life Insurance Company: The company has received final approval from insurance regulator Insurance Regulatory and Development. Authority of India (IRDAI) for the merger of Exide Life Insurance with itself. The appointed date for the scheme of amalgamation is April 1, 2022 and the scheme will be effective from end of day on October 14, 2022.
Power Mech Projects: The company has received a Letter of Award worth Rs 499.41 crore from Bangalore Metro Rail Corporation. This project is received by the company in joint venture with RITES with 49:51 sharing.
Stocks On Focus
NCLAT reserves order on Pawan Hans bidder in EMC case. *The Centre cancelled the sale of Central Electronics last month after it discovered that legal proceedings against the successful bidder were pending before the National Company Law Appellate Tribunal.
Kristalina Georgieva, IMF Managing Director at the Annual Meeting Press Conference: Across many economies, the risks of recession are rising. Countries must act now to safeguard financial stability, particularly as we see rising financial sector risks.
NLC India signs #MoU with BHEL to develop indigenous technology for Lignite gasification.
Roto Pumps gets Rs 3.9 cr purchase order for twin screw pumps from an oil company.
ADANI ENT. , GMR : Government is considering a proposal to lease out 11 more airports.
Iron ore major nmdc limited receives approval from the Government to demerge its steel plant in Nagarnar, Chhattisgarh, to NMDC Steel.
DELTA CORP. : Union Minister Shri Sarbananda Sonowal unveils multiple development projects worth ₹169.75 crore in Goa. Union Minister lays Foundation stone for Development of International and Domestic Cruise Terminals at Mormugao port and construction of Up-Ramp at Railway Yard in Baina. Union Minister of State for Ports, Shipping and Waterways Shri Shripad Naik said that people of Goa will benefit from these projects and opportunities in the field of tourism will increase.
Key events this week:
Earnings on Friday: JPMorgan Chase & Co., Citigroup Inc., Morgan Stanley, UnitedHealth Group Inc., U.S. Bancorp, Wells Fargo & Co.
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 2.4% as of 2:22 p.m. New York time
The Nasdaq 100 rose 2%
The Dow Jones Industrial Average rose 2.7%
The MSCI World index rose 1.6%
Currencies
The Bloomberg Dollar Spot Index fell 0.6%
The euro rose 0.9% to $0.9791
The British pound rose 1.9% to $1.1316
The Japanese yen fell 0.1% to 147.12 per dollar
Cryptocurrencies
Bitcoin rose 0.2% to $19,207.49
Ether fell 1.8% to $1,275.9
Bonds
The yield on 10-year Treasuries advanced four basis points to 3.94%
Germany’s 10-year yield declined three basis points to 2.29%
Britain’s 10-year yield declined 24 basis points to 4.20%
Commodities
West Texas Intermediate crude rose 2.4% to $89.40 a barrel
Gold futures fell 0.1% to $1,675 an ounce.
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