Stock Market Today: All You Need To Know Going Into Trade On Nov. 6

On Tuesday, as the United States began voting for the high-stake presidential elections and the Wall Street kicked off its trading on a positive note, with all the three main indices opening in the positive territory.

The broader index, S&P 500, was up 0.17% at 5,722.43 points at the opening bell. The tech-heavy Nasdaq Composite opened 0.3% higher at 18,250.71.

The 30-stock Dow Jones Industrial Average opened 0.1% higher at 41,835.49.

India's benchmark stock indices recovered during the last two hours of trade on Tuesday, recording their best session since Sept. 20, supported by rising banking stocks, even as global market participants await the outcome of the US election.

The NSE Nifty 50 ended 0.91%, or 217.95 points, higher at 24213.30, and Sensex ended 0.88%, or 694.39 points, higher at 79476.63. Intraday, both Nifty and Sensex fell as much as 0.6% each.

Overseas investors remained net sellers of Indian equities for the 27th consecutive session on Tuesday, while domestic institutional investors also stayed net buyers.

Foreign portfolio investors sold stocks worth Rs 2,569.4 crore and DIIs mopped up stocks worth approximately Rs 3,031 crore, according to the provisional data from the National Stock Exchange.

The Indian currency closed flat against the US dollar at 84.109 on Tuesday.

Earnings In Focus

Aadhar Housing Finance, Apollo Hospitals Enterprise, Avalon Technologies, Blue Star, Chambal Fertilisers & Chemicals, Delta Corp, Dhanuka Agritech, Endurance Technologies, FDC, Gandhar Oil Refinery (India), Gujarat Pipavav Port, Granules India, Gujarat Gas, Gulf Oil Lubricants India, Hi-Tech Pipes, J.B. Chemicals & Pharmaceuticals, Jindal Steel & Power, JK Lakshmi Cement, Kansai Nerolac Paints, Kirloskar Ferrous Industries, KP Green Engineering, KPI Green Energy, Neuland Laboratories, Power Grid Corp., Pricol, Rain Industries, Rites, Shivalik Bimetal Controls, Shipping Corp., Sonata Software, Tarc, Tata Steel, TeamLease Services, Thangamayil Jewellery, Trident, and Usha Martin, are the prominent firms that will announce their results on Tuesday for the second quarter of the current financial year.

Earnings Post Market Hours

Mankind PharmaQ2 FY25 (Consolidated, YoY)

• Revenue up 13.58% at Rs 3,076 crore versus Rs 2,708 crore (Bloomberg estimate Rs 3,050 crore).

• Ebitda up 24.45% at Rs 850 crore versus Rs 683 crore (Bloomberg estimate Rs 781 crore).

• Ebitda margin up 241 bps at 27.63% versus 25.22% (Bloomberg estimate 25.6%).

• Net profit up 28.96% at Rs 659 crore versus Rs 511 crore (Bloomberg estimate Rs 600 crore).

Dr Reddy's Q2 FY25 (Consolidated, YoY)

• Revenue up 16.45% at Rs 8,038 crore versus Rs 6,902 crore (Bloomberg estimate Rs 7,717 crore).

• Ebitda up 3.48% at Rs 2,077 crore versus Rs 2,007 crore (Bloomberg estimate Rs 2,159 crore).

• Ebitda margin down 323 bps at 25.83% versus 29.07% (Bloomberg estimate 28%).

• Net profit down 9.44% at Rs 1,342 crore versus Rs 1482 crore (Bloomberg estimate Rs 1,427 crore).

• Board approved investment worth up to Rs 600 crore in Russia-based step-down arm.

TitanQ2 FY25 (Consolidated, YoY)

• Revenue up 16% at Rs 14,534 crore versus Rs 12,529 crore (Bloomberg estimate Rs 13,425 crore).

• Ebitda down 12.4% at Rs 1,236 crore versus Rs 1,411 crore (Bloomberg estimate Rs 1,566 crore).

• Ebitda margin down 275 bps at 8.5% versus 11.26% (Bloomberg estimate 11.7%).

• Net profit down 23.14% at Rs 704 crore versus Rs 916 crore (Bloomberg estimate Rs 969 crore).

• Profit before tax was lower mainly due to impact of custom duty reduction.

• Watches and Wearables Revenue up 19% at Rs 1,304 crore versus Rs 1,092 crore.

• Jewellery Revenue up 15% at Rs 12,771 crore versus Rs 11,081 crore

• Eyecare Revenue up 7% at Rs 202 crore versus Rs 189 crore.

GAIL India Q2 FY25 (Consolidate, YoY)

• Revenue down 2.4% to Rs 33,889 crore vs Rs 34,738 crore (Bloomberg Estimate: Rs 33,936 crore).

• Ebitda down 18% to Rs 3,937 crore vs Rs 4,790 crore (Bloomberg Estimate: Rs 4018 crore).

• Margins at 11.6% vs 13.8% ((Bloomberg Estimate: 11.8%).

• Net profit down 16% to Rs 2,690 crore vs Rs 3,183 crore (Bloomberg Estimate: Rs 2,690 crore).

eClerx Services (Consolidated, QoQ)

• Revenue up 6.26% at Rs 831 crore versus Rs 782 crore (Bloomberg estimate Rs 810 crore).

• EBIT up 34.81% at Rs 182 crore versus Rs 135 crore (Bloomberg estimate Rs 160 crore).

• EBIT margin up 463 bps at 21.9% versus 17.26% (Bloomberg estimate 19.8%).

• Net profit up 24.1% at Rs 139 crore versus Rs 112 crore (Bloomberg estimate Rs 129 crore).

Berger Paints Q2 FY25 (Consolidate, YoY)

• Revenue up 0.28% at Rs 2,775 crore versus Rs 2,767 crore (Bloomberg estimate Rs 2,843 crore).

• Ebitda down 8.03% at Rs 435 crore versus Rs 473 crore (Bloomberg estimate Rs 462 crore).

• Ebitda margin down 141 bps at 15.67% versus 17.09% (Bloomberg estimate 16.3%).

• Net profit down 7.53% at Rs 270 crore versus Rs 292 crore (Bloomberg estimate Rs 288 crore).

Sundram Fasteners Q2 FY25 (Consolidated, YoY)

• Revenue up 4.57% at Rs 1,486 crore versus Rs 1,421 crore (Bloomberg estimate Rs 1,589 crore).

• Ebitda up 6.98% at Rs 245 crore versus Rs 229 crore (Bloomberg estimate Rs 261 crore).

• Ebitda margin up 37 bps at 16.48% versus 16.11% (Bloomberg estimate 16.4%).

• Net profit up 8.27% at Rs 144 crore versus Rs 133 crore (Bloomberg estimate Rs 77 crore).

Timken India Q2 FY25 (Consolidated, YoY)

• Revenue up 10.41% at Rs 753 crore versus Rs 682 crore (Bloomberg estimate Rs 774 crore).

• Ebitda down 1.47% at Rs 134 crore versus Rs 136 crore (Bloomberg estimate Rs 148 crore).

• Ebitda margin down 214 bps at 17.79% versus 19.94% (Bloomberg estimate 19.2%).

• Net profit down 3.22% at Rs 90 crore versus Rs 93 crore (Bloomberg estimate Rs 97 crore).

Waaree Renewable Q2 FY25 (Consolidated, YoY)

• Revenue up 3.5x at Rs 524 crore vs Rs 150 crore.

• Ebitda up 133% at Rs 72 crore versus Rs 31 crore.

• Ebitda margin at 13.6% vs 20.4%.

• Net profit up 161% at Rs 54 crore versus Rs 21 crore.

PB Fintech Q2 FY25 (Consolidated, QoQ)

• Revenue up 15.5% at Rs 1,167 crore versus Rs 1,010 crore (Bloomberg estimates Rs 1,090 crore).

• Ebitda loss at Rs 7.8 crore versus Ebitda loss of Rs 39.3 crore (Bloomberg estimates Rs 31 crore).

• Net profit down 15% at Rs 50.9 crore versus Rs 59.9 crore (Bloomberg estimates Rs 80 crore).

CCL Products Q2 FY25 (Consolidated, YoY)

• Revenue up 21.38% at Rs 738 crore versus Rs 608 crore (Bloomberg estimate Rs 766 crore).

• Ebitda up 24.54% at Rs 137 crore versus Rs 110 crore (Bloomberg estimate Rs 127 crore).

• Ebitda margin up 47 bps at 18.56% versus 18.09% (Bloomberg estimate 16.6%).

• Net profit up 21.31% at Rs 74 crore versus Rs 61 crore (Bloomberg estimate Rs 70 crore).

Oil India Q2 FY25 (Consolidated, YoY)

• Revenue down 10.8% to Rs 7,247 crore versus Rs 8,120 crore.

• Ebitda down 19.3% to Rs 2,536 crore versus Rs 3,142 crore.

• Margin at 35% versus 38.7%.

• Net profit up 2.6% to Rs 2,069 crore versus Rs 2,016 crore.

JK TyreQ2 FY25 (Consolidated, YoY)

• Revenue down 7.09% at Rs 3621 crore versus Rs 3,897 crore (Bloomberg estimates Rs 3,888 crore).

• Ebitda down 28.52% at Rs 421 crore versus Rs 589 crore (Bloomberg estimates Rs 501 crore).

• Ebitda margin down 348 bps at 11.62% versus 15.11% (Bloomberg estimates 12.9%).

• Net profit down 43.77% at Rs 140 crore versus Rs 249 crore (Bloomberg estimates Rs 203 crore).

Triveni Engineering Q2 FY25 (Consolidated, YoY)

• Revenue up 5.81% at Rs 1491 crore versus Rs 1409 crore.

• Ebitda down 93.65% at Rs 4 crore versus Rs 63 crore.

• Ebitda margin down 420 bps at 0.26% versus 4.47%.

• Net loss at Rs 22 crore versus profit of Rs 29 crore.

Max Healthcare Q2 FY25 (Consolidated, YoY)

• Revenue up 25.23% at Rs 1,707 crore versus Rs 1,363 crore (Bloomberg estimate Rs 2,034 crore).

• Ebitda up 15.97% at Rs 450 crore versus Rs 388 crore (Bloomberg estimate Rs 551 crore).

• Ebitda margin down 210 bps at 26.36% versus 28.46% (Bloomberg estimate 27.1%).

• Net profit up 1.81% at Rs 281 crore versus Rs 276 crore (Bloomberg estimate Rs 368 crore).

Chemplast Sanmar Q2 FY25 (Consolidated, YoY)

• Revenue up 0.4% at Rs 992 crore versus Rs 988 crore (Bloomberg estimate Rs 1,097 crore).

• Ebitda down 45.65% at Rs 25 crore versus Rs 46 crore (Bloomberg estimate Rs 29 crore).

• Ebitda margin down 213 bps at 2.52% versus 4.65% (Bloomberg estimate 2.6%).

• Net loss at Rs 31 crore versus profit of Rs 26 crore (Bloomberg estimate net loss Rs 51 crore).

Datamatics Global Q2 FY25 (Consolidated, YoY)

• Revenue up 3.29% at Rs 407 crore versus Rs 394 crore.

• EBIT down 7.07% at Rs 39.4 crore versus Rs 42.4 crore.

• EBIT margin down 108 bps at 9.68% versus 10.76%.

• Net profit down 4.54% at Rs 42 crore versus Rs 44 crore.

• Board approved the re-appointment of Lalit S. Kanodia as Chairman and Whole-Time Director for 5 years effective May 15, 2025.

Manappuram FinanceQ2 FY25 (Consolidated, YoY)

• Total Income up 21.29% at Rs 2,637 crore versus Rs 2,174 crore.

• Net profit up 1.96% at Rs 572 crore versus Rs 561 crore (Bloomberg estimates Rs 474 crore).

Muthoot Microfin Q2 FY25 – (YoY)

• Total income up 18% at Rs 667 crore versus Rs 565 crore.

• Net profit down 43.7% at Rs 61.6 crore versus Rs 110 crore.

Oil India Q2 Results: Profit Rises 3%, Revenue Down 11%

Stocks To Watch

• NTPC: The board has approved an investment of Rs 29,345 crore for Phase II of the Telangana power project and an investment of Rs 29,948 crore for Stage II of the Nabinagar power project.

• Hero Motocorp: The company will be entering the European markets by launching a new electric scooter – the VIDA Z. Subsequently, the company plans to expand its range to high-capacity premium internal combustion engine motorcycles. The company appointed Pelpi International as Italy Distributor.

• Infosys: The company announced with Southwark Council for digital learning platforms for residents, colleges and schools.

• IEX: October Electricity traded volume up 4% at 9,642 MU year-on-year.

• Coffee Day Enterprises: Exchanges have suspended regular trading for companies under the Insolvency and Bankruptcy Code effective today. As a result, these stocks will now be traded only once a week, limited to the first trading day of each week, until further review. The exchanges also announced plans to initiate necessary steps to safeguard stakeholders’ interests during this period.

• Rail Vikas Nigam: Consortium with HFCL and others emerged as lowest bidder from BSNL for Bharat Net project worth Rs 5,008 crore.

• Oil India: The company to form an equal equity JV with BPCL for CGD project in Arunachal Pradesh.

• Hindustan Zinc: Government to sell up to 2.5% stake via offer-for-sale. The offer-for-sale includes a base offer of 1.25% stake, with greenshoe option of additional 1.25%. The floor price set at Rs 505 per share, indicating a 9.8% discount to today’s close. Offer to open on Nov. 7 for retail investors.

• Sundaram Finance: The company appointed C Senthilnathan as CFO effective Dec. 1.

NTPC Approves Investment Of Rs 79,738.45 Crore For Its Multiple Projects

IPO Offering

• Swiggy: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 371to Rs 390 per share. The Rs 11,327-crore IPO issue is a combination of fresh issue of Rs 4,499 crore and rest offer for sale. The company raised Rs 5,085 crore from anchor investors.

• Acme Solar Holdings: The company will offer its shares for bidding on Wednesday. The price band is set from Rs 275 to Rs 289 per share. The Rs 2,900-crore IPO issue is a combination of fresh issue of Rs 2,395 crore and rest offer for sale. The company raised Rs 1,300 crore from anchor investors.

• Sagility India: The public issue was subscribed to 0.22 times on day 1. There were no bids led by qualified institutional investors, non-institutional investors (0.07 times), retail investors (1.09 times), reserved for employees (1.35 times).

Block Deals

Motilal Oswal Financial Services: Motilal Oswal Foundation sold 3.75 lakh shares (0.06%) at Rs 933.3 apiece, while Tata Mutual Fund bought 3.75 lakh shares (0.06%) at Rs 933.3 apiece.

Trading Tweaks

• Ex/dividend: Ajanta Pharma, HUL, Railtel, ADF Foods, Laurus Labs, Cyient, Nippon Life, Siyaram, LT Foods.

• Ex/special dividend: HUL.

• Price Band change from 20% to 10%: Waaree Energies.

• Moved in short term ASM: Waaree Energies.

• Moved out of short term ASM: Huhtamaki India.

F&O Cues

• Nifty November futures up by 0.74% to 24,295 at a premium 82 points.

• Nifty November futures open interest up by 0.21%.

• Nifty Bank November futures up by 1.51% to 52,394 at a premium of 187 points.

• Nifty Bank November futures open interest down 9.27%.

• Nifty Options November 7 Expiry: Maximum call open interest at 27,000 and maximum put open interest at 22,450.

• Bank Nifty Options November 6 Expiry: Maximum call open Interest at 60,500 and maximum put open interest at 43,000.

• Securities in ban period: Nil.

Money Market

The Indian Rupee closed flat against the US Dollar at 84.109 on Tuesday. Earlier in the morning trade the rupee opened at a new low after closing at a record low of 84.11 against the US dollar on Monday.

Rupee, already under significant pressure, opened at a record low of 84.13 on Tuesday.

Early indications in the morning had already suggested that the rupee may open at another new low on Tuesday, continuing its downward trajectory.

Research Reports

• ICICI Bank To Varun Beverages — Here Are Top Stock Picks For November 2024 By Axis Securities

• Sagility India IPO: Financials, Issue Details, Key Strengths, Risks And More — Anand Rathi

• Ashoka Buildcon – Lighter Shoulders, Hitting Stride; Upgrade To ‘Buy’, Says ICICI Securities

• India Economy Update – Cyclical Moderation Continues In September: Nirmal Bang

• Lupin – U.S., India On Steady Footing; Upgrade To ‘Add’: HDFC Securities

• Bulls & Bears- Highest Ever FII Selling, Slowdown In Earnings Lead To A Sharp Correction In Oct: Motilal Oswal

• RateGain – Sustained Organic Growth, Attractive Valuation; Maintaining A ‘Buy’: Anand Rathi

Q2 Results: Oil India Revenue Falls 13%; GAIL India Profit Falls 16%. Read more on Markets by NDTV Profit.