India Market Recap
Indian equity benchmarks, the Sensex and Nifty 50, declined by more than 1% on Monday, October 19, amid broad-based selling led by private banking and IT stocks. The BSE Sensex fell 876.37 points, or 1.17%, to close at 73,852.90, while the NSE Nifty 50 declined 257.20 points, or 1.11%, to settle at 22,888.95. The Bank Nifty index also weakened, shedding 355.90 points, or 0.64%, to end at 55,488.10. The broad-based sell-off reflected cautious investor sentiment and selling pressure in key heavyweight sectors. On the technical front, Nifty support is placed around 22,800–22,600, while resistance is seen in the 23,000–23,200 range.
US Market Recap
US equities closed mixed on Tuesday, with the Dow Jones Industrial Average advancing on the back of upbeat corporate earnings and easing oil prices, which helped offset continued pressure on artificial intelligence-related stocks. The Dow Jones gained 529.85 points, or 1.02%, to close at 52,495.88, while the S&P 500 rose 0.28% to settle at 7,712.57. In contrast, the Nasdaq Composite edged down 0.02% to 26,424.82, reflecting lingering weakness in technology stocks. Overall, stronger earnings and lower crude prices supported broader market sentiment, although concerns surrounding AI-linked valuations continued to weigh on technology-heavy indices.
Asian Market Update
Asian equities advanced alongside US equity-index futures as strong earnings from major beneficiaries of the artificial intelligence boom revived optimism around technology stocks. The MSCI Asia Pacific Index rose 0.6%, supported by gains in South Korea and Japan. South Korea’s Kospi Index climbed 1.9%, recovering after one of the country’s weakest initial public offering debuts on record. The regional rebound indicated improving risk appetite, although market sentiment remains sensitive to corporate earnings, technology-sector valuations and geopolitical developments.
Commodity Check
Crude oil prices declined on Tuesday as traders anticipated potential diplomatic progress between the US and Iran. However, escalating attacks on tankers and strikes involving Saudi Arabia continued to pose risks to regional energy supplies. US West Texas Intermediate (WTI) crude futures for November delivery fell 1.8% to settle at $101.79 per barrel, retreating sharply from the session high of $110.48. The November contract expired on Tuesday, while the December WTI contract declined 26 cents to $98.28 per barrel. Meanwhile, Brent crude futures for December delivery fell 0.7% to settle at $108.79 per barrel, well below the session high of $111.99. Despite the pullback, crude prices remain elevated amid geopolitical uncertainty. Any sustained increase in oil prices could raise India's import costs, intensify inflationary pressures and weigh on equity-market sentiment.
Stocks In News
- Infosys: Expands collaboration with Truist; to build Global Capability Centre in Hyderabad.
- Ceigall India: Arm Jam Khambhaliya Jamnagar Power Transmission signs transmission service agreement with Central Transmission Utility of India.
- Shukra Pharma: Seeks NSE approval for name change to Shukra Medtech; submits revised CA certificate.
- NTPC: Government appoints Diwakar Nath Misra as Government Nominee Director on the board.
- Titan: Fully redeems commercial papers worth Rs 1,000 crore.
- Federal Bank: Clarifies that it evaluates all opportunities in the normal course of business and is not in possession of any material information.
- Genus Power Infra: Board to meet on Oct. 26 to consider share buyback.
- Diamond Power Infrastructure: Appoints Kundip S Thakker as CFO from Oct. 20; Pawan Lohiya ceases to be CFO from Oct. 19 and is appointed Deputy CEO from Oct. 20.
- Transrail Lighting: Approves acquisition of 49% stake in Pace Green Energy for Rs 20 crore; to invest in a 990 MW solar portfolio in Maharashtra.
- Gabriel India: Forms JV with Faurecia Automotive; acquires 50% minus one share in the JV, which will begin with an investment of Rs 20 crore.
- JSW Dulux: Receives Rs 118 crore tax order from Karnataka GST authority.
- Jaiprakash Power: Appoints Jigar Dalal as CFO effective Nov. 1.
- Nuvama Wealth Management: Arm Nuvama Asset Management receives SEBI approval to launch a Specialised Investment Fund (SIF) under the Nuvama SIF brand.
- Karnataka Bank: COO Raja BS resigns effective Oct. 19.
- Sterling & Wilson Renewable Energy: Step-down arm approaches South African court over a Rs 25.5 crore claim related to unpaid insurance bond invocation.
- Cemindia Projects: QIP issue closes; allots 1.3 crore shares at Rs 1,108 per share.
- Lord's Mark Industries: Board to meet on Oct. 23 to consider raising an unsecured loan of Rs 100 crore.
- Steel Stocks: Primary-secondary rebar spread at its highest level since June 2022; global steelmaker Nucor has hiked prices.
- 2-Wheeler Stocks: Citi now builds in 9% YoY industry volume growth for FY27 versus 7% earlier.
- Cement Stocks: Positive commentary and outlook from UltraTech Cement.
- Orchid Pharma: Board approves raising up to Rs 600 crore through equity and/or other instruments.
- Globus Spirits: Maize ethanol price cut by Rs 3/litre; analysts see a likely 10-11% impact on Ebitda and a 20-22% impact on profit after tax.
- Venus Pipes: Commences pipe spooling operations ahead of schedule.
- Quality Power Electrical Equipments: Commences manufacturing operations at its new Global Coil Factory at Kupwad MIDC, Sangli, Maharashtra.
- Karamtara Engineering: India Ratings upgrades bank loan ratings to IND AA-/Stable/IND A1+.
- RailTel: Wins a Rs 47 crore order from Haryana State Electronics Development Corporation.
- Vintage Coffee: Board approves raising Rs 325 crore through equity and/or debt.
- Schaeffler India: Managing Director and CEO Harsha Kadam taken into custody by Pune Police in connection with a factory accident that occurred on June 9.
- Sun Pharma: UNLOXCYT receives a National Comprehensive Cancer Network (NCCN) Category 2A preferred recommendation for advanced skin cancer patients who are not eligible for surgery or radiation.
Earnings
- Revenue up 9.8% to Rs 15,093 crore
- Ebitda up 14.9% to Rs 9,248 crore
- Ebitda margin at 61.3% versus 58.6%
- Net profit up 17.2% to Rs 6,412 crore
- Revenue at Rs 15,093 crore versus estimates of Rs 14,035 crore
- Ebitda at Rs 9,248 crore versus estimates of Rs 8,466 crore
- Ebitda margin at 61.3% versus estimates of 60.3%
- Net profit at Rs 6,412 crore versus estimates of Rs 5,593 crore
- Total income up 28% to Rs 3,717 crore
- AUM increased 24% YoY to Rs 1,13,112 crore
- Net profit up 64.8% to Rs 539 crore
- Revenue up 76% to Rs 217 crore
- Ebitda up 83.3% to Rs 40.7 crore
- Ebitda margin at 18.7% versus 18%
- Net profit at Rs 21.4 crore versus Rs 9.9 crore
- Revenue up 3.4% to Rs 3,040 crore
- Ebit up 7.5% to Rs 495.9 crore
- Ebit margin at 16.3% versus 15.7%
- Net profit up 53.5% to Rs 548 crore
- Revenue up 20.7% to Rs 670 crore
- Ebitda down 32.3% to Rs 28.3 crore
- Ebitda margin at 4.2% versus 7.5%
- Net profit down 44.5% to Rs 11.7 crore
- Net profit up 28.5% to Rs 6,266 crore versus Rs 4,875 crore
- NII up 23.6% to Rs 13,334 crore versus Rs 10,785 crore
- Operating profit up 23.2% to Rs 10,699 crore versus Rs 8,685 crore
- Gross NPA at 1.06% versus 1.24%
- Net NPA at 0.42% versus 0.60%
- Revenue up 5.1% to Rs 78.1 crore versus Rs 74.3 crore
- Net profit up 6.8% to Rs 1.73 crore versus Rs 1.62 crore
- Revenue down 12% to Rs 1,041 crore versus Rs 1,188 crore
- Ebitda down 16.2% to Rs 102.1 crore versus Rs 121.8 crore
- Ebitda margin at 9.8% versus 10.3%
- Net profit down 32.4% to Rs 48 crore versus Rs 71 crore
- Government grants at Rs 2.5 crore versus Rs 6.9 crore
- Revenue down 31.3% to Rs 967 crore versus Rs 1,408 crore
- Ebitda down 28.1% to Rs 68.7 crore versus Rs 95.6 crore
- Ebitda margin at 7.1% versus 6.8%
- Net profit down 54.6% to Rs 32.9 crore versus Rs 72.5 crore
- Revenue up 36.5% to Rs 1,058 crore versus Rs 775 crore
- Ebitda up 1.2% to Rs 160 crore versus Rs 158 crore
- Ebitda margin at 15.1% versus 20.4%
- Net profit down 36.5% to Rs 74 crore versus Rs 116 crore
- Total income up 14% to Rs 2,347 crore versus Rs 2,058 crore
- Net profit up 0.5% to Rs 552 crore versus Rs 549 crore
- Revenue up 5.1% to Rs 1,512 crore versus Rs 1,438 crore
- Ebitda up 39.3% to Rs 656 crore versus Rs 471 crore
- Ebitda margin at 43.4% versus 32.8%
- Net profit down 81.7% to Rs 33.3 crore versus Rs 182 crore
- Reported one-time loss of Rs 511 crore in Q2
- Revenue up 13.1% to Rs 343 crore versus Rs 303 crore
- Ebitda up 4.1% to Rs 90.6 crore versus Rs 87 crore
- Ebitda margin at 26.4% versus 28.7%
- Net profit down 9.2% to Rs 108 crore versus Rs 119 crore
- Revenue up 31.1% to Rs 219 crore versus Rs 167 crore
- Ebitda up 29.1% to Rs 165 crore versus Rs 128 crore
- Ebitda margin at 75.2% versus 76.3%
- Net profit down 71.4% to Rs 34 crore versus Rs 119 crore
- One-time loss of Rs 7 crore versus a gain of Rs 109 crore
- Revenue down 13.1% to Rs 159 crore versus Rs 183 crore
- Ebitda down 28.8% to Rs 28.4 crore versus Rs 39.9 crore
- Ebitda margin at 17.9% versus 21.8%
- Net loss at Rs 106 crore versus a profit of Rs 25 crore
- One-time loss of Rs 137 crore in Q2
- Revenue flat at Rs 1,145 crore
- EBITDA down 41% at Rs 109.6 crore Vs Rs 185.1 crore
- EBITDA margin at 9.6% vs 16.2%
- Net profit down 51% at Rs 60.5 crore vs Rs 123.7 crore