1st Nov, Morning Brief

Market likely to open on a positive note as SGX was trading 38 points up.

Major Results Today:
Tech Mahindra, Hero Motocorp, TVS Motor, Apollo Tyres, Andhra Bank

Results Updates :

🎯 Bharti Airtel :
Cons Net Profit (RD)7% At Rs.343.1 Cr Vs Rs.367.3 Cr (QoQ).
Cons Revenue (RD)1% At Rs.21,777 Cr Vs Rs. 21,958.1 Cr (QoQ).
Negative for the stock.

🎯 IndiGo :
Net Profit At Rs.551.5 Cr Vs Rs.139.8 Cr (YoY).
Revenue Up 27% At `5,291 Cr Vs `4,167 Cr (YoY).
Positive for the stock.

🎯 JSW Steel :
Net Profit Up 29.2% At Rs.836 Cr Vs Rs. 647 Cr (YoY).
Revenue Up 28.1% At Rs.16,638 Cr Vs Rs. 12,987 Cr (YoY).
Positive for the stock.

🎯 Syndicate Bank :
Net Profit Up 27.7% At Rs.105.2 Cr (YoY).
Gross NPA At 9.39% Vs 9.96% (QoQ).

🎯 MRPL :
HPCL is likely to acquire MRPL in a share-swap deal to become India's second-largest oil refiner.
Positive for the stock.

🎯 Schenider Electrical :
is top bidder for L&T’s electrical unit.

🎯 Infoedge :
Zomato explores merger talks with swiggy.

🎯 SBI :
SBI announced a 5-basis-point cut in its benchmark lending rates across maturity .

🎯 M&M Financial :
To allot 1000cr pref shares to promoters.

🎯 Mphasis :
Mphasis eyes 1 bn$ revenue , taps digital opportunities.

🎯 Sharon Bio :
Shriji polymers shows interest in

🎯 Tata Power :
Tata power Renewable Energy Commissions 30 MW Solar Power Plant At Palaswade, Maharashtra.

🎯 RCom :
Rcom & Sistema Shyam Teleservices Complete Merger Transaction.

🎯 Allahabad Bank :
Reduces Lending Rate By 15 bps, one-year MCLR cut to 8.3%.

Edited by Sharp.
© Sharp Investment & Financial Advisers