25th October, 2019 Morning Brief

Market will open with a gap up today.

Stocks in Asia are trading mixed as weakness from Amazon.com Inc. earnings kept a lid on positive sentiment. 

Technology shares led gains in U.S. stocks as investors assessed a raft of corporate earnings against the backdrop of a global economic slowdown.

🎯 News & Impact 🎯 

Major Results Today :

SBI, Tata Motors, HDFCAMC

Results Updates :

🎯 ITC (Q2, YoY) :

Revenue up 5.3 % to Rs 11,871.5 crore. 

Net profit up 36.2 % to Rs 4,023.1 crore. 

🎯 InterGlobe Aviation (Q2, YoY) :

Net loss at Rs 1,062 crore versus loss of Rs 651.5 crore, 

Revenue up 31% at Rs 8,105.2 crore versus Rs 6,185.3 crore, YoY. 

🎯 Sterlite Tech (Q2, YoY) :

Revenue up 25.4 % to Rs 1,359.7 crore. 

Net profit up 21.6 % to Rs 159.6 crore. 

🎯 Colgate Palmolive (Q2, YoY) :

Revenue up 4.6 % to Rs 1,221.8 crore. 

Net profit up 24.3 % to Rs 244.1 crore. 

🎯 PNB Housing Finance (Q2, YoY) :

Net interest income up 29.1 % to Rs.494.6 crore. 

Net profit up 45 % at Rs.366.8 crore. 

🎯 Alembic Pharma Q2 : 

Consolidated net profit up 23.1% at Rs 246.3 crore versus Rs 200.1 crore, 

Revenue up 10.1% at Rs 1,241 crore against Rs 1,127 crore, YoY. 

🎯 IDFC First Bank (Q2, YoY) :

Net interest income up 3 times to Rs. 1,363.1 crore. 

Net loss at Rs 679.5 crore versus net loss at Rs 369.7 crore. 

Positive for the stock. 👍 

🎯 Hexaware, Tata Elxsi & Union Bank of India to be removed from F&O segment with effect from Dec. 27.

🎯 Chalet Hotels :

Company has issued Letters of Award for works contract aggregating to Rs 319.5 crore to Larsen & Toubro for construction of Hotel and Commercial Building in Powai, Mumbai.

🎯 Bandhan Bank : 

Board approved increasing shareholding limits for the foreign portfolio investors to 49 % from 24 %.

🎯 Tata Steel :

Company clarified that its arm has participated in the e-auction for tendering by Odisha Government for the Misrilall Chrome Mine and is awaiting the outcome of the auction in the form of formal communication from the Odisha Government.

🎯 Cochin Shipyard : 

Nippon Mutual Fund increased the stake to 7.4 % on Oct. 22. from 6.4 %

🎯 Patel Engineering :

Company promoters increased their stake to 59.84 % from 8.24 % via rights share issue on Oct. 18.

🎯 Zee Entertainment Enterprises :

Company promoter Essel International sold 2.68 lakh shares on Oct. 22.

🎯 Motilal Oswal Financial Services :

Company reported a sharp jump in net profit at Rs.142.3 crore in September quarter as against Rs 4.5 crore in the year-ago period. 

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Edited by Sharp.