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India Market Recap

Indian equity benchmarks extended their gains for the fourth consecutive session on Tuesday, November 3, with the Nifty 50 rising over 1.5%, supported by strong buying across FMCG, Financial Services and Realty stocks. The BSE Sensex advanced 1,225.07 points, or 1.62%, to close at 76,917, while the NSE Nifty 50 gained 370.05 points, or 1.58%, to settle at 23,810. The continued upward momentum reflected broad-based buying interest and improving investor sentiment across key sectors. On the technical front, Nifty support is placed around 23,600–23,700, while resistance is seen in the 23,900–24,000 range.

US Market Recap

US equities traded mixed on Tuesday as investors returned to major technology stocks following recent selling pressure, while also monitoring the US midterm election results. The Nasdaq Composite advanced 0.83% to close at 25,372.01, recovering some of its recent losses. The Nasdaq-100 gained 0.70% to 28,180.26, although it remained in correction territory, down approximately 10% from its recent high. The S&P 500 rose 0.36% to 7,568.92, snapping a three-session losing streak. In contrast, the Dow Jones Industrial Average declined 197.26 points, or 0.38%, to 51,786.72, weighed down by weakness in Apple shares. The mixed performance reflected selective buying in technology stocks, while investors remained cautious ahead of the US midterm election outcome.

Asian Market Update

Asia-Pacific markets traded mixed on Wednesday, November 4, tracking the uneven performance on Wall Street. Investors also remained focused on the US midterm election results, with early indications pointing towards a potential Democratic lead over Republicans. South Korea's Kospi rebounded from the previous session's decline, rising 1.60%. In contrast, Japan's Nikkei 225 declined 1.56%, while the broader Topix slipped 0.55%. Australia's S&P/ASX 200 also fell 0.52%. Regional markets reflected mixed global cues and continued uncertainty surrounding the US political outlook.

Commodity Check

Crude oil prices resumed their upward movement on Wednesday, November 4, following declines over the previous two sessions, as investors assessed uncertainty surrounding diplomatic efforts between the US and Iran. Brent crude futures were last trading 0.74% higher at $104.30 per barrel. Qatar's Foreign Ministry spokesperson stated that both sides were considering fresh proposals put forward by mediators to resolve their differences. However, Iran's national security chief indicated through a social media post that Washington's response to the proposals remained unsatisfactory. Adding to geopolitical uncertainty, the US carried out defensive strikes against Iran earlier this week, targeting surface-to-air missile systems allegedly used against American assets. However, the limited scale of the strikes suggested that Washington was not immediately seeking to resume large-scale military operations.

Stocks In News

Patanjali Foods: Clarifies that Maharashtra FDA action was directed at a distributor and not the company; no direct FDA order or confirmed laboratory report has been received, while the distributor-held stock remains restricted.
Hinduja Global Solutions: Sale of stakes in two subsidiaries is under process and is expected to take additional time.
Hindustan Aeronautics (HAL): To acquire the remaining 50% stake in HATSOFF from CAE Canada by purchasing 3.84 crore shares, making it a wholly owned subsidiary.
Motilal Oswal Financial Services: Announces key management changes, appointing Padmanabh Sinha as MD & CEO of alternate business, Suresh Shukla as CEO of wealth management and Pratik Oswal as Chairman of private wealth; also appoints Anupam Guha and Akash Hariani as MDs & CEOs of private wealth.
Sri Lotus Developers: Promoter increases the OFS size to 2.65 crore shares, including an additional 27.04 lakh shares, taking the proposed stake sale to 5.42%.
Avenue Supermarts (DMart): Opens a new store in Pune, taking its total store count to 520.
NSE: Plans to divest a 40% stake in its subsidiary, National Coal of India.
JNK India: Receives an order worth Rs. 300–600 crore from JNK Global for the design and supply of a heater package.
Hindustan Zinc: Launches two new alloy products, VedAZ and VedAyush.
Clean Max Enviro: NFAC deletes a Rs. 62.15 crore tax demand against its subsidiary Surya Energy, ruling in favour of the company.
SKF India: Approves capacity expansion through new channels and launches the SKF Vertevo brand across the organisation.
Lloyds Metals & Energy: Plans to invest Rs. 625 crore in subsidiary Triveni Earthmovers, raise up to $300 million through senior notes and establish a 360 MW thermal power plant in Maharashtra.
Lupin: Launches Raltegravir Tablets USP 600 mg in the US market.
Prestige Estates Projects: Acquires Gloind for an enterprise value of Rs. 519 crore.
Easy Trip Planners: Receives a show-cause notice involving a tax demand of Rs. 67.4 crore from the Mumbai tax authority.
Equitas Small Finance Bank: Appoints Balaji Nuthalpadi as interim CEO.
Amber Enterprises: Subsidiary IL JIN Electronics (India) now holds a 100% stake in Ascent Circuits.
Windsor Machines: Board to meet on November 6 to consider raising funds.
Vikran Engineering: Approves the allotment of non-convertible debentures worth Rs. 10 crore.
Power Grid Corporation: Government appoints Anupam Kumar as Government Nominee Director.

Earnings

Neuland Labs Q2 (Consolidated)

Revenue declined 12.6% YoY to Rs. 450 crore from Rs. 514 crore.
EBITDA declined 37.3% YoY to Rs. 97.6 crore from Rs. 156 crore.
EBITDA margin declined to 21.7% from 30.2% YoY.
Net profit declined 46.7% YoY to Rs. 51.6 crore from Rs. 96.9 crore.

ASK Automotive Q2 (Consolidated)

Revenue grew 47.6% YoY to Rs. 1,555 crore from Rs. 1,054 crore.
EBITDA grew 30.2% YoY to Rs. 178.6 crore from Rs. 137.2 crore.
EBITDA margin declined to 11.5% from 13% YoY.
Net profit grew 27.3% YoY to Rs. 101.6 crore from Rs. 79.8 crore.

Harsha Engineers Q2 (Consolidated)

Revenue grew 16.3% YoY to Rs. 440.1 crore from Rs. 378.3 crore.
EBITDA grew 39.6% YoY to Rs. 74.7 crore from Rs. 53.5 crore.
EBITDA margin improved to 17% from 14.1% YoY.
Net profit grew 23.7% YoY to Rs. 45 crore from Rs. 36.4 crore.

Global Health Q2 (Consolidated)

Revenue grew 33.6% YoY to Rs. 1,469 crore from Rs. 1,099 crore.
EBITDA grew 60.3% YoY to Rs. 370.1 crore from Rs. 230.9 crore.
EBITDA margin improved to 25.2% from 21% YoY.
Net profit grew 39.3% YoY to Rs. 221 crore from Rs. 158 crore.

SEAMEC Q2 (Consolidated)

Revenue stood at Rs. 198 crore against Rs. 97.4 crore YoY.
EBITDA stood at Rs. 38.1 crore against Rs. 7.9 crore YoY.
EBITDA margin improved to 19.2% from 8.1% YoY.
Net profit stood at Rs. 50.3 crore against a loss of Rs. 27.5 crore YoY.
Reported a one-time gain of Rs. 42.4 crore in Q2.

GNG Electronics Q2 (Consolidated)

Revenue grew 51.5% YoY to Rs. 625 crore from Rs. 413 crore.
EBITDA grew 86.3% YoY to Rs. 92.8 crore from Rs. 49.8 crore.
EBITDA margin improved to 14.8% from 12.1% YoY.
Net profit grew 95.2% YoY to Rs. 56.4 crore from Rs. 28.9 crore.

SEDEMAC Mechatronics Q2 (Consolidated)

Revenue grew 39.8% YoY to Rs. 401 crore from Rs. 287 crore.
EBITDA grew 23.7% YoY to Rs. 75.6 crore from Rs. 61.1 crore.
EBITDA margin declined to 18.9% from 21.3% YoY.
Net profit grew 30.2% YoY to Rs. 39.2 crore from Rs. 30.1 crore.

Chambal Fertilisers Q2 (Consolidated)

Revenue grew 9.1% YoY to Rs. 6,999 crore from Rs. 6,413 crore.
EBITDA grew 6.9% YoY to Rs. 900.4 crore from Rs. 841.9 crore.
EBITDA margin declined to 12.9% from 13.1% YoY.
Net profit declined 2.6% YoY to Rs. 632 crore from Rs. 649 crore.
To pay an interim dividend of Rs. 5 per share.

Dreamfolks Services Q2 (Consolidated)

Revenue declined 84.9% YoY to Rs. 31.1 crore from Rs. 205.6 crore.
Reported a net loss of Rs. 10.5 crore against a profit of Rs. 11.2 crore YoY.

Linde India Q2 (Consolidated)

Revenue grew 12.3% YoY to Rs. 723 crore from Rs. 644 crore.
EBITDA declined 18% YoY to Rs. 232 crore from Rs. 282 crore.
EBITDA margin declined to 32% from 43.8% YoY.
Net profit declined 30.5% YoY to Rs. 119 crore from Rs. 171 crore.

Xpro India Q2 (Consolidated)

Revenue grew 47.4% YoY to Rs. 177 crore from Rs. 120 crore.
EBITDA declined 11.9% YoY to Rs. 43.7 crore from Rs. 49.6 crore.
EBITDA margin declined to 24.7% from 41.4% YoY.
Net profit grew 50% YoY to Rs. 7.5 crore from Rs. 5 crore.

V-Mart Retail Q2

Revenue grew 18.1% YoY to Rs. 953 crore from Rs. 807 crore.
EBITDA grew 20.1% YoY to Rs. 86.1 crore from Rs. 71.7 crore.
EBITDA margin improved to 9% from 8.9% YoY.
Net loss widened to Rs. 16.3 crore from Rs. 8.9 crore YoY.

Northern Arc Capital Q2 (Consolidated)

Total income grew 39% YoY to Rs. 874 crore from Rs. 629 crore.
Net profit grew 41% YoY to Rs. 129.3 crore from Rs. 91.7 crore.

Bajaj Holdings Q2 (Consolidated)

Total income declined 55.2% YoY to Rs. 184 crore from Rs. 410 crore.
Profit grew 27.9% YoY to Rs. 1,993 crore from Rs. 1,559 crore.

Sai Silks Q2

Revenue declined 2.3% YoY to Rs. 434 crore from Rs. 444 crore.
EBITDA declined 14.1% YoY to Rs. 61.6 crore from Rs. 71.7 crore.
EBITDA margin declined to 14.2% from 16.1% YoY.
Net profit declined 22.4% YoY to Rs. 31.1 crore from Rs. 40.1 crore.

Datamatics Global Q2 (Consolidated)

Revenue grew 11.5% YoY to Rs. 546.6 crore from Rs. 490.2 crore.
EBITDA grew 30% YoY to Rs. 115.4 crore from Rs. 88.8 crore.
EBITDA margin improved to 21.1% from 18.1% YoY.
Net profit grew 16.1% YoY to Rs. 73.4 crore from Rs. 63.2 crore.

Awfis Space Q2 (Consolidated)

Revenue grew 19.6% YoY to Rs. 439 crore from Rs. 367 crore.
EBITDA grew 31.2% YoY to Rs. 174 crore from Rs. 132 crore.
EBITDA margin improved to 39.6% from 36.1% YoY.
Net profit grew 93.7% YoY to Rs. 30.8 crore from Rs. 15.9 crore.

Pokarna Q2 (Consolidated)

Revenue grew 35.9% YoY to Rs. 161 crore from Rs. 119 crore.
EBITDA stood at Rs. 59.4 crore against Rs. 23.9 crore YoY.
EBITDA margin improved to 36.9% from 20.2% YoY.
Net profit stood at Rs. 34.3 crore against Rs. 6.3 crore YoY.

Subros Q2 (Consolidated)

Revenue grew 36% YoY to Rs. 1,199 crore from Rs. 880 crore.
EBITDA grew 23% YoY to Rs. 84.1 crore from Rs. 68.4 crore.
EBITDA margin declined to 7% from 7.8% YoY.
Net profit grew 9.6% YoY to Rs. 44.6 crore from Rs. 40.7 crore.

HG Infra Q2 (Consolidated)

Revenue grew 7.6% YoY to Rs. 973.5 crore from Rs. 904.5 crore.
EBITDA grew 21% YoY to Rs. 249.4 crore from Rs. 206.1 crore.
EBITDA margin improved to 25.6% from 22.8% YoY.
Net profit grew 51.5% YoY to Rs. 79.1 crore from Rs. 52.2 crore.

Manipal Payment Q2 (Consolidated)

Revenue grew 2.6% QoQ to Rs. 430 crore from Rs. 418.9 crore.
EBITDA grew 5.6% QoQ to Rs. 131.1 crore from Rs. 124.1 crore.
EBITDA margin improved to 30.5% from 29.6% QoQ.
Net profit grew 4% QoQ to Rs. 80.8 crore from Rs. 77.7 crore.

NSE Q2 (Consolidated)

Revenue declined 10.8% QoQ to Rs. 4,067 crore from Rs. 4,560 crore.
EBITDA declined 13.3% QoQ to Rs. 3,079 crore from Rs. 3,551 crore.
EBITDA margin declined to 75.7% from 77.9% QoQ.
Net profit declined 17.4% QoQ to Rs. 2,578 crore from Rs. 3,120 crore.

Bata India Q2 (Consolidated)

Revenue grew 7.5% YoY to Rs. 861.7 crore from Rs. 801.3 crore.
EBITDA declined 0.8% YoY to Rs. 143.7 crore from Rs. 144.9 crore.
EBITDA margin declined to 16.7% from 18.1% YoY.
Net profit grew 31.2% YoY to Rs. 18.1 crore from Rs. 13.8 crore.

Anthem Biosciences Q2 (Consolidated)

Revenue grew 7.9% YoY to Rs. 594 crore from Rs. 550.5 crore.
EBITDA grew 24.4% YoY to Rs. 271.5 crore from Rs. 218.3 crore.
EBITDA margin improved to 45.7% from 39.7% YoY.
Net profit grew 21.9% YoY to Rs. 211 crore from Rs. 173 crore.

Sandur Manganese Q2 (Consolidated)

Revenue grew 9.5% QoQ to Rs. 1,506 crore from Rs. 1,375 crore.
EBITDA grew 10% QoQ to Rs. 377.8 crore from Rs. 343.5 crore.
EBITDA margin improved to 25.1% from 25% QoQ.
Net profit grew 14.5% QoQ to Rs. 260 crore from Rs. 227 crore.

Nephrocare Health Q2 (Consolidated)

Revenue grew 23.4% YoY to Rs. 303.3 crore from Rs. 245.7 crore.
EBITDA grew 4.7% YoY to Rs. 67 crore from Rs. 64 crore.
EBITDA margin declined to 22.1% from 26% YoY.
Net profit stood at Rs. 33.5 crore against a loss of Rs. 9.4 crore YoY.

Shalby Q2 (Consolidated)

Revenue grew 9.7% YoY to Rs. 313.1 crore from Rs. 285.4 crore.
EBITDA declined 0.5% YoY to Rs. 41.3 crore from Rs. 41.5 crore.
EBITDA margin declined to 13.2% from 14.5% YoY.
Net profit declined 1.2% YoY to Rs. 8.2 crore from Rs. 8.3 crore.

Bayer CropScience Q2

Revenue declined 19.5% YoY to Rs. 1,251 crore from Rs. 1,553 crore.
EBITDA grew 6% YoY to Rs. 217.7 crore from Rs. 205.3 crore.
EBITDA margin improved to 17.4% from 13.2% YoY.
Net profit grew 8.8% YoY to Rs. 166.2 crore from Rs. 152.7 crore.
To pay an interim dividend of Rs. 90 per share.

SAMHI Hotels Q2 (Consolidated)

Revenue grew 15.4% YoY to Rs. 338 crore from Rs. 293 crore.
EBITDA grew 11.3% YoY to Rs. 119.2 crore from Rs. 107.1 crore.
EBITDA margin declined to 35.3% from 36.6% YoY.
Net profit declined 63.7% YoY to Rs. 33.5 crore from Rs. 92.4 crore.

Timex Group Q2

Revenue grew 46.9% YoY to Rs. 358 crore from Rs. 243.7 crore.
EBITDA grew 51.2% YoY to Rs. 64.4 crore from Rs. 42.6 crore.
EBITDA margin improved to 18% from 17.5% YoY.
Net profit grew 56% YoY to Rs. 47.1 crore from Rs. 30.2 crore.

V2 Retail Q2 (Consolidated)

Revenue grew 27.8% YoY to Rs. 906 crore from Rs. 709 crore.
EBITDA grew 41.7% YoY to Rs. 121 crore from Rs. 85.6 crore.
EBITDA margin improved to 13.4% from 12.1% YoY.
Net profit grew 5.8% YoY to Rs. 18.2 crore from Rs. 17.2 crore.

Arisinfra Solutions Q2 (Consolidated)

Revenue grew 27.8% YoY to Rs. 308 crore from Rs. 241 crore.
EBITDA grew 60.7% YoY to Rs. 36 crore from Rs. 22.4 crore.
EBITDA margin improved to 11.7% from 9.3% YoY.
Net profit grew 45.5% YoY to Rs. 20.8 crore from Rs. 14.3 crore.

GSK Pharma Q2 (Consolidated)

Revenue grew 20.8% YoY to Rs. 1,184 crore from Rs. 980 crore.
EBITDA grew 19.8% YoY to Rs. 402 crore from Rs. 336 crore.
EBITDA margin was 34% against 34.2% YoY.
Net profit grew 30.4% YoY to Rs. 336 crore from Rs. 258 crore.

Dalmia Bharat Sugar Q2 (Consolidated)

Revenue grew 7.3% YoY to Rs. 1,061 crore from Rs. 989 crore.
EBITDA stood at Rs. 113.8 crore against Rs. 56.2 crore YoY.
EBITDA margin improved to 10.7% from 5.7% YoY.
Net profit stood at Rs. 69.5 crore against Rs. 23.3 crore YoY.

Transrail Lighting Q2 (Consolidated)

Revenue grew 31.7% YoY to Rs. 2,056 crore from Rs. 1,561 crore.
EBITDA grew 28.7% YoY to Rs. 236.6 crore from Rs. 183.9 crore.
EBITDA margin declined to 11.5% from 11.8% YoY.
Net profit grew 12.4% YoY to Rs. 103.9 crore from Rs. 92.4 crore.

INOX India Q2 (Consolidated)

Revenue grew 27.4% YoY to Rs. 456 crore from Rs. 358 crore.
EBITDA grew 13.3% YoY to Rs. 87.9 crore from Rs. 77.6 crore.
EBITDA margin declined to 19.3% from 21.7% YoY.
Net profit grew 9.5% YoY to Rs. 66.6 crore from Rs. 60.8 crore.

Aarti Drugs Q2 (Consolidated)

Revenue grew 26.5% YoY to Rs. 826 crore from Rs. 653 crore.
EBITDA grew 58.8% YoY to Rs. 135 crore from Rs. 85 crore.
EBITDA margin improved to 16.3% from 13% YoY.
Net profit grew 83.2% YoY to Rs. 82.8 crore from Rs. 45.2 crore.

KSB Q2 (Consolidated)

Revenue grew 19% YoY to Rs. 773 crore from Rs. 650 crore.
EBITDA declined 3.8% YoY to Rs. 81.6 crore from Rs. 84.8 crore.
EBITDA margin declined to 10.6% from 13.1% YoY.
Net profit declined 10.2% YoY to Rs. 60.6 crore from Rs. 67.5 crore.

Lloyds Metals Q2 (Consolidated)

Revenue declined 20.7% QoQ to Rs. 5,673 crore from Rs. 7,150 crore.
EBITDA declined 35.4% QoQ to Rs. 1,804 crore from Rs. 2,792 crore.
EBITDA margin declined to 31.8% from 39% QoQ.
Profit declined 39.5% QoQ to Rs. 1,046 crore from Rs. 1,728 crore.

IndiQube Spaces Q2

Revenue grew 34.8% YoY to Rs. 472 crore from Rs. 350 crore.
EBITDA grew 42.6% YoY to Rs. 296.4 crore from Rs. 207.8 crore.
EBITDA margin improved to 62.8% from 59.4% YoY.
Net loss narrowed to Rs. 5.9 crore from Rs. 29.9 crore YoY.

Novartis India Q2 (Consolidated)

Revenue declined 37.8% YoY to Rs. 56 crore from Rs. 90 crore.
Net loss stood at Rs. 77.5 crore against a profit of Rs. 24.2 crore YoY.
Reported a one-time loss of Rs. 68.3 crore in Q2.

Metropolis Health Q2 (Consolidated)

Revenue grew 15.8% YoY to Rs. 497 crore from Rs. 429 crore.
EBITDA grew 23.9% YoY to Rs. 133.9 crore from Rs. 108.1 crore.
EBITDA margin improved to 27% from 25.2% YoY.
Net profit grew 42.9% YoY to Rs. 75.3 crore from Rs. 52.7 crore.
To pay an interim dividend of Rs. 1 per share.

SKF India Q2 (Consolidated)

Revenue declined 54.5% YoY to Rs. 596 crore from Rs. 1,309 crore.
EBITDA declined 65.3% YoY to Rs. 57.6 crore from Rs. 166 crore.
EBITDA margin declined to 9.7% from 12.7% YoY.
Net profit declined 50.5% YoY to Rs. 52 crore from Rs. 105 crore.

Endurance Technologies Q2 (Consolidated)

Revenue grew 33.6% YoY to Rs. 4,786 crore from Rs. 3,583 crore.
EBITDA grew 17.3% YoY to Rs. 559 crore from Rs. 477 crore.
EBITDA margin declined to 11.7% from 13.3% YoY.
Net profit grew 20.7% YoY to Rs. 274 crore from Rs. 227 crore.

Embassy Developments Q2 (Consolidated)

Revenue declined 40.8% YoY to Rs. 292 crore from Rs. 494 crore.
EBITDA loss stood at Rs. 149.9 crore against a loss of Rs. 51.2 crore YoY.
Net loss widened to Rs. 271 crore from Rs. 153 crore YoY.

DAM Capital Q2 (Consolidated)

Total income grew 81% QoQ to Rs. 54.3 crore from Rs. 30 crore.
Net profit stood at Rs. 13.5 crore against Rs. 0.2 crore QoQ.

MCX Q2 (Consolidated)

Revenue grew 14% QoQ to Rs. 800 crore from Rs. 702 crore.
EBITDA grew 23.8% QoQ to Rs. 612 crore from Rs. 494 crore.
EBITDA margin improved to 76.4% from 70.4% QoQ.
Net profit grew 10% QoQ to Rs. 454.6 crore from Rs. 413.4 crore.

Vijaya Diagnostic Q2 (Consolidated)

Revenue grew 26.2% YoY to Rs. 255 crore from Rs. 202 crore.
EBITDA grew 36.8% YoY to Rs. 112.3 crore from Rs. 82.1 crore.
EBITDA margin improved to 44% from 40.6% YoY.
Net profit grew 37.41% YoY to Rs. 59.5 crore from Rs. 43.3 crore.

Utkarsh SFB Q2

NII grew 24.2% YoY to Rs. 435 crore from Rs. 350 crore.
Net NPA stood at 2.74% against 2.86% QoQ.
Gross NPA stood at 5.96% against 6.09% QoQ.
Provisions stood at Rs. 166 crore against Rs. 109 crore QoQ and Rs. 462 crore YoY.
Net loss narrowed to Rs. 69.9 crore from Rs. 348.5 crore YoY.