U.S. stocks rose as investors sifted through a batch of earnings reports.
Asembly results for Maharashtra and Haryna will be pronounced today as counting begins at 8 a.m.
Most expect a one side victory to the ruling party. Any unexpected outcome may keep market volatile.
🎯 News & Impact 🎯
Major Results Today :
ITC, Maruti Suzuki India, IndiGo,
Results Updates :
🎯 L&T (Q2, YoY) :
Revenue up 15 % to Rs 35,328 crore.
Net profit up 13 % to Rs. 2,528 crore versus Rs 2230 crore.
🎯 HCL Tech (Q2, QoQ) :
Dollar revenue up 5.2 percent to $2,486 million.
Revenue up 6.7 % to Rs 17,527 crore.
🎯 Hero MotoCorp (Q2, YoY) :
Revenue down 16.7 % to Rs 7,571 crore.
Net profit down 10.3 % to Rs 875 crore.
🎯 Biocon (Q2, YoY) :
Revenue up 19 % to Rs.1,572.2 crore.
Net profit down 39.2 % to Rs.215.7 crore
🎯 NIIT Technologies (Q2, QoQ) :
Revenue up 7.9 % to Rs 1,038.5 crore.
Net profit up 36.4 % to Rs 119.5 crore.
🎯 Hexaware Technologies (Q3CY19, QoQ) :
Revenue up 13.2 % to Rs 1,481.3 crore.
Net profit up 21.3 % to Rs 183.7 crore.
🎯 Torrent Pharma (Q2, YoY) :
Revenue up 5.9 % to Rs 2,005 crore.
Net profit up 36.3 % to Rs 244 crore.
🎯 JSW Steel :
Company post a 21.5 % growth in its consolidated net profit at Rs.2,536 crore in the quarter ended September 2019.
The company had posted profit of Rs 2,087 crore in the same quarter last year.
🎯 PI Industries (Q2, YoY) :
Revenue up 25.5 % to Rs 907.4 crore.
Net profit up 30.2 % to Rs 123.2 crore.
🎯 Polycab India (Q2, YoY) :
Revenue up 23.7 % to Rs 2,241.9 crore.
Net profit up 2.2 times to Rs 191.8 crore.
Positive for the stock. 👍
🎯 Indian Bank :
Bank reported a 139 % year-on-year rise in its September quarter profit at Rs.358.6 crore. The bank also registered improvement in asset quality on a sequential basis.
Positive for the stock. 👍
🎯 Telecom stocks—Bharti Airtel and Vodafone Idea— The long pending judgement related to the AGR case is expected to pronounce verdict today at around 1 p.m. If the judgement is against the telecom operators then Airtel would have to pay dues worth Rs 21,682 crore, while Vodafone Idea would have to pay around Rs 28,309 crore.
🎯 HCL Tech :
Company announced 1:1 bonus.
Positive for the stock. 👍
🎯 MTNL :
Company to be merged with BSNL. MTNL to act as subsidiary of BSNL till merger is completed.
🎯 Jindal Stainless :
Company signed MoU with Braithwaite & Co to develop stainless bridges on the sidelines of ongoing International Railway Equipment Exhibition in New Delhi.
🎯 Sadbhav Engineering :
Company’s arm Sadbhav Infra Project has received approval from various authorities for the transfer of its 100 % stake in 7 special purpose vehicles to Indinfravit Trust.
🎯 Mishra Dhatu Nigam :
LIC reduced stake in the company from 6.72 % to 4.66 % from June 15-Oct. 18.
🎯 Prism Johnson :
Board approved demerger or retail business in its 4 arms and amalgamation of its two arms Milano and Silica with self.
🎯 SpiceJet :
Company announced plans to launch a new airline with the Ras Al Khaimah International Airport as its base as well as set up its first overseas hub in the UAE emirate, according to media reports.
🎯 GTPL Hathway :
Ashish Kacholia sold 21.64 lakh shares or 1.92 % equity at Rs 72 each.
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Edited by Sharp.
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