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CORPORATE AND ECONOMY NEWS

? ITC (Consolidated, YoY): Revenues up 25% at Rs 18,608 crore vs Rs 14,844.38 crore. Net profit up 24% to Rs 4619.77 crore vs Rs 3713.76 crore. EBITDA up 25% to Rs 6259.1 crore vs Rs 5017.6 crore. Margins at 33.6% vs 33.8%.

? Axis Bank (Consolidated): Net profit at Rs 5,330 crore vs Rs 3,133 crore (YoY). NII at Rs 10,360 crore vs 7,900 crore (YoY). GNPA improves to 2.5% vs 2.76% (QoQ). NNPA at 0.51% vs 0.64% (QoQ).

? Tata Consumer Products (Consolidated, YoY): Revenues up 11% at Rs 3363.05 crore vs Rs 3033.12 crore. Net profit up 22% at Rs 327.96 crore vs Rs 268.04 crore. EBITDA up 5% to Rs 433.84 crore vs Rs 413.31 crore. Margins at 12.9 % vs 13.6 %.

? Bajaj Finance (Consolidated): Net profit at Rs 2,781 crore Vs Rs 1,481 crore (YoY). NII at Rs 7,001 crore Vs Rs 5,337 crore (YoY). GNPA at 1.17% vs 1.25% (QoQ). NNPA at 0.44% vs 0.51% (QoQ).

? Zensar Technologies (Consolidated, QoQ): Revenues up 3% at Rs 1,234.6 crore vs Rs 1,203.4 crore. Net profit down 24% at Rs 56.8 crore vs Rs 75.1 crore. EBITDA down 23% at Rs 105.4 crore vs Rs 136.1 crore. Margins at 8.5% vs 11.3%.

? United Breweries (Consolidated YoY): Revenues up 11% at Rs 3,673.51 crore vs Rs 3,294.73 crore. Net profit up 42% at Rs 134.05 crore vs Rs 80.38 crore. EBITDA up 33% at Rs 219.42 crore vs Rs 165.39 crore. Margins at 13% vs 11.6%.

? Dixon Technologies (Consolidated QoQ): Revenues up 35% at Rs 3,866.77 crore vs Rs 2,855.07 crore. Net profit up 69% at Rs 77.25 crore vs Rs 45.70 crore. EBITDA up 45% at Rs 145.17 crore vs Rs 100.12 crore. Margins at 3.8% vs 3.5%.

? Yes Bank: The CCI approved sale of 10% the bank’s stake each to Carlyle Group and Advent International, under the lender’s efforts to raise $1.1 billion from the two global investors.

? KNR Constructions: The company has transferred its remaining 51% equity stake in each of the subsidiaries KNR Tirumala Infra and KNR Shankarampet Projects to Cube Highways and Infrastructure III for a consideration of Rs 114.22 crore.

? Dhanlaxmi Bank: Shareholders led by B Ravindran Pillai, representing 12.89% equity stake in the bank, call for an EGM on Nov. 12, seeking to suspend MD & CEO’s powers with respect to capital and revenue expenditure, apart from statutory payments till proper quorum on the board is reinstated.

? ICICI Bank: The bank’s New York branch entered into a consent order with its federal banking supervisor, the Office of the Comptroller of the Currency, which requires the branch to enhance certain processes in its Bank Secrecy Act/AntiMoney Laundering program and establish and maintain an effective Sanctions Compliance program.

? Tata Motors: The company confirmed that it has won an order for 20 electric buses from the Government of Jammu and Kashmir, in response to a notice seeking clarification on the same.

? TVS Motor Company: The company will discuss issue of zero coupon debentures at its board meeting on Nov. 4, 2022.

? Wipro: The company appointed Suzanne Dann as CEO for Americas 2 Strategic Market Unit, effective immediately. She will also join the Wipro executive board.

? Key Results: Reliance Industries, Hindustan Unilever, Bajaj Finserv, HDFC Life Insurance, JSW Steel, IDBI Bank, Hindustan Zinc, Bajaj Holdings, DLF, Ambuja Cements, VIP Industries, Indraprastha Gas, Vakrangee, United Spirits, Torrent Pharmaceuticals, Tejas Networks, Tata Steel Long Products, Shriram City Union Finance, Sharda Cropchem, SBI Life Insurance Company, Route Mobile, Ramkrishna Forgings, Poonawalla Fincorp, NACL Industries, Motilal Oswal Financial Services, Meghmani Organics, Laurus Labs, Kalyani Steel, Jubilant Pharmova, IRB Infrastructure Developers, Glenmark Lifesciences, Finolex Industries, CRISIL, CSB Bank, Credit Access Grameen, Chalet Hotels, Birlasoft, Atul, and Amber Enterprises.

GLOBAL MARKETS

Global Market Update

US stocks ended the session lower and benchmark Treasury yields continued their ascent on Thursday after investors weighed generally upbeat earnings against the prospect that the Federal Reserve could hold firm on its aggressive policy for longer than they had hoped. The Dow Jones Industrial Average fell 90.22 points, or 0.3%, to 30,333.59, the S&P 500 lost 29.38 points, or 0.80%, to 3,665.78 and the Nasdaq Composite dropped 65.66 points, or 0.61%, to 10,614.84.

Crude Oil

Oil prices were near flat on Friday, as market participants weighed concerns about steep inflation with optimism that China could see energy demand tick up. Brent crude futures lost 5 cents to trade at $92.33 a barrel by 00:02 GMT. U.S. West Texas Intermediate futures rose 7 cents to trade at $84.58 a barrel. Brent was on track for a weekly gain of 0.7%, while WTI was expected to fall 1.3%.

SGX Nifty: Trends in SGX Nifty indicate a cautious opening for the broader index in India with a gain of 14 points. The Nifty futures were trading around 17,534 levels on the Singaporean exchange.

TECHNICAL VIEW

Nifty Outlook:

Nifty opened gap down on Thursday at 17423, made a high of 17584, made a low of 17421, and closed on a positive note at 17564 levels. For the day, support for the Nifty exists at 17400 and 17200 levels, whereas resistance for the Nifty stands at 17620 and 17800 levels.

Bank Nifty Outlook:

Bank Nifty opened gap down on Thursday at 40149 made a high of 40208, made a low of 39849, and closed on a negative note at 40100 levels. For the day, support for Bank Nifty exists at 39800 and 39500 levels, whereas resistance for Bank Nifty stands at 40300 and 40650 levels.

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