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CORPORATE AND ECONOMY NEWS

* Eicher Motors: The automobile major said its consolidated profit after tax increased 76 per cent to Rs 657 crore in September quarter, aided by brisk sales across domestic and international markets. The company had reported a net profit of Rs 373 crore for July-September 2021-22.

* Apollo Hospitals: The healthcare major said its consolidated net profit declined 20 per cent to Rs 213 crore in the second quarter ended September. It had reported a net profit of Rs 267 crore in the July-September period of previous fiscal.

* Adani Green Energy: The renewable energy player posted a 49 per cent rise in its consolidated net profit at Rs 149 crore in September quarter of FY23 compared to a year ago, mainly due to higher revenues. The consolidated net profit of the company was Rs 100 crore in the quarter ended on September 30, 2021.

* Bata India: The leading shoemaker reported a 47.44 per cent rise in consolidated net profit at Rs 54.82 crore in the second quarter ended September 2022, helped by increased footfalls at stores. The company had posted a net profit of Rs 37.18 crore in the July-September quarter a year ago.

* The Indian Hotels Company: The Tata Group's hospitality firm reported a consolidated profit after tax (PAT) of Rs 129.59 crore for the September quarter following growth in travel demand. The company has posted a loss of Rs 130.92 crore during the corresponding quarter in the previous financial year.

* Zomato: The Online food delivery platform reported narrowing of its consolidated net loss to Rs 250.8 crore for the second quarter ended September 2022. The company's consolidated net loss stood at Rs 434.9 crore in the year-ago period.

* SAIL: The state-owned company reported a loss of Rs 329 crore for the quarter ended September, down from a profit of Rs 4,338.8 crore in the year-ago period. The company's total income also took a hit falling to Rs 26,642.

* M&M: Peugeot Motorcycles will cease to be a subsidiary of Mahindra Two Wheelers Europe Holdings, a wholly owned subsidiary of the company.

* Alkem Laboratories Ltd: The pharma company has received a Form 483 with three observations from the US FDA for St. Louis, USA manufacturing unit. The company said that there is no data integrity observation. ? Adani Power Ltd: The Adani group company announced that the company is selling its entire stake in its wholly-owned subsidiary, Support Properties Private Ltd to AdaniConnex Private Ltd (ACX) for an enterprise value of Rs 1,556.5 crore.

* SJVN: The company secured 83 MW floating solar project in Madhya Pradesh from REWA Ultra Mega Solar Ltd. at Rs 3.70 per unit on build-own-and-operate basis.

* Reliance Industries: Reliance Jio, the telecom arm of the company, launched 5G beta services in Bengaluru and Hyderabad.

* Sunteck Realty: The board has approved amalgamation of subsidiary Starlight Systems (I) into the company.

* Adani Green Energy: The company appointed Phuntsok Wangyal as chief financial officer with effect from Nov 11, after the resignation of Kaushal Shah from the office.

* DCX Systems: The manufacture of electronic sub-systems and cable harnesses is set for its Dalal street debut on Friday after the company raised Rs 500 crore via its initial public offering between October 31 to November 02 by selling its shares in the range of Rs 197-207 apiece. ?

Key Results: Hindalco Industries, Mahindra & Mahindra, Life Insurance Corporation of India, ABB India, Adani Power, Alkem Laboratories, Alembic Pharmaceuticals, Ashoka Buildcon, Astral, Astrazeneca Pharma India, Bharat Dynamics, BHEL, Delhivery, Dhani Services, Easy Trip Planners, Emami, Exide Industries, Fortis Healthcare, GSK Pharma, Glenmark Pharma, Hindustan Aeronautics, Ipca Laboratories, Lemon Tree Hotels, Pfizer, Sun TV Network, Thermax, Ujjivan Financial Services, Zee Entertainment Enterprises, and Zydus Lifesciences.

GLOBAL MARKETS

Global Market Update

The S&P 500 and Nasdaq jumped on Thursday, racking up their biggest daily percentage gains in over 2-1/2 years as a sign of slowing inflation in October sparked speculation the Federal Reserve might become less aggressive with interest rate hikes. The S&P 500 climbed 5.54 percent to end the session at 3,956.31 points. The Nasdaq gained 7.35 percent to 11,114.15 points, while Dow Jones Industrial Average rose 3.70 percent to 33,715.37 points. All 11 S&P 500 sector indexes rallied, led by information technology, up 8.33 percent, followed by a 7.74 percent gain in real estate.

Crude Oil 

Oil prices rose on Friday as fears of a U.S. recession eased but were on track for weekly declines of more than 4% after a jump in COVID-19 cases in top oil importer China raised the spectre of weaker fuel demand. Brent crude futures were up 23 cents, or 0.3%, to $93.80 a barrel at 0101 GMT, extending a 1.1% rise in the previous session. U.S. West Texas Intermediate (WTI) crude futures rose 28 cents, or 0.3%, to $86.75 a barrel, after climbing 0.8% in the previous session.

SGX Nifty: Trends in SGX Nifty indicate a gap-up opening for the broader index in India with a gain of 335 points. The Nifty futures were trading around 18,432 levels on the Singaporean exchange.

Nifty Outlook:

Nifty opened gap down on Thursday at 18044, made a high of 18103, made a low of 17969, and closed on a negative note at 18028 levels. For the day, support for the Nifty exists at 18000 and 17900 levels, whereas resistance for the Nifty stands at 18300 and 18500 levels.

Bank Nifty Outlook:

Bank Nifty opened gap down on Thursday at 41463 made a high of 41644, made a low of 41319 and closed on a negative note at 41604 levels. For the day, support for Bank Nifty exists at 41300 and 41000 levels, whereas resistance for Bank Nifty stands at 42000 and 42200 levels.

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