🔰Market Wrap Up🔰
✳️Largecap and midcap gainers today include Bandhan Bank Ltd. (307.85, 4.18%), Cipla Ltd. (892.10, 2.84%) and ABB India Ltd. (2,408.40, 2.19%).
✳️Largecap and midcap losers today include Astral Ltd. (2,172.30, -8.61%), Godrej Properties Ltd. (1,655.90, -7.95%) and Tata Motors Limited (DVR) (235.50, -7.63%).
✳️Top high volume gainers on BSE included Bandhan Bank Ltd. (307.85, 4.18%), Cipla Ltd. (892.10, 2.84%) and India Tourism Development Corporation Ltd. (399.55, 2.44%).
✳️Top high volume losers on BSE were Route Mobile Ltd. (1,619.55, -9.47%), KPR Mill Ltd. (642.20, -9.13%) and Finolex Cables Ltd. (461.15, -7.75%).
✳️Ashoka Buildcon wins project worth Rs 829.49 crore from National Highways Authority of India for construction of 6 lanes from Belgaum to Sankeshwar of NH-48.
✳️ONGC rises as its overseas arm announces the commercial viability of the deep sea gas block in Brazil discovered in 2019. The company and Petrobras, Brazil will install a floating production storage and offloading facility and a gas pipeline as part of the development plan.
✳️CSB Bank is trading with more than 15 times its weekly average trading volume. Sharda Cropchem, Ingersoll-Rand (India), Supreme Petrochem, and Sona BLW Precision Forgings are trading at more than two times their weekly average trading volumes.
✳️Tanla Platforms' Q3FY22 net profit rises 69% YoY to Rs 158 crore and revenue rises 35.3% YoY to Rs 889 crore. Double-digit YoY rise in transaction volumes for turbloq and new client additions as well as robust growth in OTT, BFSI and government segments lead the overall earnings growth in Q3.
✳️Reliance Industries Q3FY22 net profit jumps 54.3% YoY to Rs 18,549 crore with revenues increasing by 41.6% YoY to Rs 1.91 lakh crore. The profits were boosted by a Rs 2,872-crore exceptional gain on account sale of its shale gas business in North America. The highest contribution of revenue came from the oil-to-chemicals segment as revenues rose nearly 57% YoY to Rs 1.31 lakh crore. Reliance Retail's revenues rise 52% YoY to Rs 57,714 crore as sales increase because of a rise in footfalls aided by the festive season in Q3FY22.
✳️JSW Steel's Q3FY22 net profit rises 62.5% YoY to Rs 4,357 crore and revenue rises 74% YoY to Rs 38,071 crore. Higher realizations backed by rise in steel prices drive the earnings growth on a YoY basis. However, the profit falls 39% sequentially due to higher coking coal cost, flat sales volumes and slight dip in realisations.
✳️Mohnish Pabrai buys a 0.17% stake in Edelweiss Financial Services in Q3FY22, raising his holding in the company to 6.43%.
✳️ICICI Bank’s Q3FY22 net profit rises 25% YoY to Rs 6,194 crore as net interest income (NII) rises and provisions fall. NII grew 23% YoY to Rs 12,236 crore and provisions fell 27% YoY to Rs 2,007 crore. Gross NPA falls 59 bps YoY to 4.1% and net NPA 16 bps to 0.85%.
✳️Largecap and midcap gainers today include Bandhan Bank Ltd. (307.85, 4.18%), Cipla Ltd. (892.10, 2.84%) and ABB India Ltd. (2,408.40, 2.19%).
✳️Largecap and midcap losers today include Astral Ltd. (2,172.30, -8.61%), Godrej Properties Ltd. (1,655.90, -7.95%) and Tata Motors Limited (DVR) (235.50, -7.63%).
✳️Top high volume gainers on BSE included Bandhan Bank Ltd. (307.85, 4.18%), Cipla Ltd. (892.10, 2.84%) and India Tourism Development Corporation Ltd. (399.55, 2.44%).
✳️Top high volume losers on BSE were Route Mobile Ltd. (1,619.55, -9.47%), KPR Mill Ltd. (642.20, -9.13%) and Finolex Cables Ltd. (461.15, -7.75%).
✳️Ashoka Buildcon wins project worth Rs 829.49 crore from National Highways Authority of India for construction of 6 lanes from Belgaum to Sankeshwar of NH-48.
✳️ONGC rises as its overseas arm announces the commercial viability of the deep sea gas block in Brazil discovered in 2019. The company and Petrobras, Brazil will install a floating production storage and offloading facility and a gas pipeline as part of the development plan.
✳️CSB Bank is trading with more than 15 times its weekly average trading volume. Sharda Cropchem, Ingersoll-Rand (India), Supreme Petrochem, and Sona BLW Precision Forgings are trading at more than two times their weekly average trading volumes.
✳️Tanla Platforms' Q3FY22 net profit rises 69% YoY to Rs 158 crore and revenue rises 35.3% YoY to Rs 889 crore. Double-digit YoY rise in transaction volumes for turbloq and new client additions as well as robust growth in OTT, BFSI and government segments lead the overall earnings growth in Q3.
✳️Reliance Industries Q3FY22 net profit jumps 54.3% YoY to Rs 18,549 crore with revenues increasing by 41.6% YoY to Rs 1.91 lakh crore. The profits were boosted by a Rs 2,872-crore exceptional gain on account sale of its shale gas business in North America. The highest contribution of revenue came from the oil-to-chemicals segment as revenues rose nearly 57% YoY to Rs 1.31 lakh crore. Reliance Retail's revenues rise 52% YoY to Rs 57,714 crore as sales increase because of a rise in footfalls aided by the festive season in Q3FY22.
✳️JSW Steel's Q3FY22 net profit rises 62.5% YoY to Rs 4,357 crore and revenue rises 74% YoY to Rs 38,071 crore. Higher realizations backed by rise in steel prices drive the earnings growth on a YoY basis. However, the profit falls 39% sequentially due to higher coking coal cost, flat sales volumes and slight dip in realisations.
✳️Mohnish Pabrai buys a 0.17% stake in Edelweiss Financial Services in Q3FY22, raising his holding in the company to 6.43%.
✳️ICICI Bank’s Q3FY22 net profit rises 25% YoY to Rs 6,194 crore as net interest income (NII) rises and provisions fall. NII grew 23% YoY to Rs 12,236 crore and provisions fell 27% YoY to Rs 2,007 crore. Gross NPA falls 59 bps YoY to 4.1% and net NPA 16 bps to 0.85%.
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🔰Market Wrap Up🔰
✳️Largecap and midcap gainers today include Zee Entertainment Enterprises Ltd. (288.80, 7.72%), Maruti Suzuki India Ltd. (8,602.60, 6.83%) and Axis Bank Ltd. (752.20, 6.76%).
✳️Largecap and midcap losers today include Deepak Nitrite Ltd. (2,216.00, -6.25%), The Ramco Cements Ltd. (860.80, -4.02%) and Supreme Industries Ltd. (2,047.85, -3.86%).
✳️Top high volume gainers on BSE included Triveni Turbine Ltd. (214.30, 14.42%), Axis Bank Ltd. (752.20, 6.76%) and SBI Cards and Payment Services Ltd. (850.00, 4.31%).
✳️Top high volume losers on BSE were Lux Industries Ltd. (2,813.70, -20.00%), IndiaMART InterMESH Ltd. (5,005.00, -14.27%) and Deepak Nitrite Ltd. (2,216.00, -6.25%).
✳️Star Cement Ltd. (95.40, 2.14%) was trading at 11.9 times of weekly average. The Ramco Cements Ltd. (860.80, -4.02%) and Supreme Industries Ltd. (2,047.85, -3.86%) were trading with volumes 8.1 and 4.7 times weekly average respectively on BSE at the time of posting this article.
✳️Federal Bank’s Q3FY22 net profit rises 29% YoY to Rs 522 crore as net interest income rises 7.1% YoY to Rs 1,539 crore. Net interest margin increases marginally by 7 bps to 3.27%. The bank’s asset quality improves on a QoQ basis as gross NPAs fall 18 bps QoQ to 3.06% and net NPA by 7 bps to 1.05%. Total advances increase by 12% YoY to Rs 1.4 lakh crore with agriculture advances recording the highest growth of 17.9% YoY to Rs 18,431 crore.
✳️Deepak Nitrite’s Q3FY22 net profit rises 12% YoY to Rs 242 crore because of a 57% reduction in finance costs. The company’s revenue from operations is up 41% YoY to Rs 1,748 crore. Growth in revenue is because of an increase in demand for phenolics and basic chemicals. EBITDA margins fell 500 bps YoY to 22% on rising raw material and utility costs.
✳️Ramco Cement's Q3FY22 net profit falls 63.4% YoY to Rs 75.6 crore even though revenues rise 15.5% YoY to Rs 1,558.7 crore. Weak sales realizations in the key regions of east and south India, as well as higher fuel costs, led to a drop in profits in Q3.
✳️Bharti Airtel's board to meet on Friday to consider and evaluate the proposal for issuance of preferential share to investors other than its promoter group.
✳️IndiaMART InterMESH to invest Rs 61.55 crore in Simply Vyapar Apps and shall hold 27% stake. The company will also acquire 100% paid up capital of Busy Infotech for up to Rs 500 crore, and its arm Tradezeal Online will invest Rs 7.5 crore in Legistify Services through compulsorily convertible debentures.
✳️Hero MotoCorp’s board approves a Rs 700 crore investment in NBFC Hero FinCorp. Hero FinCorp primarily deals in two-wheeler financing, terms loans, capital loans, etc. This is part of Hero FinCorp's fundraising of Rs 2,000 crore for its business purposes.
✳️Indian Energy Exchange's Q3FY22 net profit rises 39% YoY to Rs 80.7 crore and its revenues rise 38% YoY to Rs 130.8 crore. Trading volumes rose over 35% YoY buoyed by higher electricity consumption which boosted Q3 profits. The company announces an interim dividend of Rs 1 per share.
✳️Axis Bank’s Q3FY22 net profits surge 3.2X to Rs 3,614 crore as net interest income (NII) rises and provisions fall. NII increases by 17% YoY to Rs 8,653 crore and net interest margins improve by 2 bps YoY to 3.53%. Provisions are down by 64% YoY to Rs 1,337 crore. The bank’s asset quality improves as gross NPA falls 27 bps YoY to 3.17% and net NPA is down 17 bps YoY to 0.91% in Q3FY22.
✳️Largecap and midcap gainers today include Zee Entertainment Enterprises Ltd. (288.80, 7.72%), Maruti Suzuki India Ltd. (8,602.60, 6.83%) and Axis Bank Ltd. (752.20, 6.76%).
✳️Largecap and midcap losers today include Deepak Nitrite Ltd. (2,216.00, -6.25%), The Ramco Cements Ltd. (860.80, -4.02%) and Supreme Industries Ltd. (2,047.85, -3.86%).
✳️Top high volume gainers on BSE included Triveni Turbine Ltd. (214.30, 14.42%), Axis Bank Ltd. (752.20, 6.76%) and SBI Cards and Payment Services Ltd. (850.00, 4.31%).
✳️Top high volume losers on BSE were Lux Industries Ltd. (2,813.70, -20.00%), IndiaMART InterMESH Ltd. (5,005.00, -14.27%) and Deepak Nitrite Ltd. (2,216.00, -6.25%).
✳️Star Cement Ltd. (95.40, 2.14%) was trading at 11.9 times of weekly average. The Ramco Cements Ltd. (860.80, -4.02%) and Supreme Industries Ltd. (2,047.85, -3.86%) were trading with volumes 8.1 and 4.7 times weekly average respectively on BSE at the time of posting this article.
✳️Federal Bank’s Q3FY22 net profit rises 29% YoY to Rs 522 crore as net interest income rises 7.1% YoY to Rs 1,539 crore. Net interest margin increases marginally by 7 bps to 3.27%. The bank’s asset quality improves on a QoQ basis as gross NPAs fall 18 bps QoQ to 3.06% and net NPA by 7 bps to 1.05%. Total advances increase by 12% YoY to Rs 1.4 lakh crore with agriculture advances recording the highest growth of 17.9% YoY to Rs 18,431 crore.
✳️Deepak Nitrite’s Q3FY22 net profit rises 12% YoY to Rs 242 crore because of a 57% reduction in finance costs. The company’s revenue from operations is up 41% YoY to Rs 1,748 crore. Growth in revenue is because of an increase in demand for phenolics and basic chemicals. EBITDA margins fell 500 bps YoY to 22% on rising raw material and utility costs.
✳️Ramco Cement's Q3FY22 net profit falls 63.4% YoY to Rs 75.6 crore even though revenues rise 15.5% YoY to Rs 1,558.7 crore. Weak sales realizations in the key regions of east and south India, as well as higher fuel costs, led to a drop in profits in Q3.
✳️Bharti Airtel's board to meet on Friday to consider and evaluate the proposal for issuance of preferential share to investors other than its promoter group.
✳️IndiaMART InterMESH to invest Rs 61.55 crore in Simply Vyapar Apps and shall hold 27% stake. The company will also acquire 100% paid up capital of Busy Infotech for up to Rs 500 crore, and its arm Tradezeal Online will invest Rs 7.5 crore in Legistify Services through compulsorily convertible debentures.
✳️Hero MotoCorp’s board approves a Rs 700 crore investment in NBFC Hero FinCorp. Hero FinCorp primarily deals in two-wheeler financing, terms loans, capital loans, etc. This is part of Hero FinCorp's fundraising of Rs 2,000 crore for its business purposes.
✳️Indian Energy Exchange's Q3FY22 net profit rises 39% YoY to Rs 80.7 crore and its revenues rise 38% YoY to Rs 130.8 crore. Trading volumes rose over 35% YoY buoyed by higher electricity consumption which boosted Q3 profits. The company announces an interim dividend of Rs 1 per share.
✳️Axis Bank’s Q3FY22 net profits surge 3.2X to Rs 3,614 crore as net interest income (NII) rises and provisions fall. NII increases by 17% YoY to Rs 8,653 crore and net interest margins improve by 2 bps YoY to 3.53%. Provisions are down by 64% YoY to Rs 1,337 crore. The bank’s asset quality improves as gross NPA falls 27 bps YoY to 3.17% and net NPA is down 17 bps YoY to 0.91% in Q3FY22.