Benchmark indices closed higher for the fourth consecutive session on November 1 with the Nifty above 18,100. At close, the Sensex was up 374.76 points or 0.62 percent at 61,121.35, and the Nifty was up 133.20 points or 0.74 percent at 18,145.40.
Tata Steel | CMP: Rs 101.20 | The stock ended in the red on November 1. The steel major reported an 87 percent on-year decline in consolidated net profit at Rs 1,514 crore for the September quarter. Tata Steel's profit declined 80 percent sequentially. Consolidated revenue remained flat with a marginal decline of 1 percent year-on-year to Rs 59,878 crore. It was down 6 percent on-quarter. CLSA has downgraded the stock to 'sell' and cut the target price to Rs 90 from Rs 110 per share.
Adani Ports | CMP: Rs 840.90 | The share price was up over 2 percent after the firm reported a strong set of quarterly numbers on a YoY basis. Its consolidated net profit for the September quarter jumped 68.5 percent YoY to Rs 1,677.48 crore. Consolidated revenue from operations grew 32.8 percent to Rs 5,210.80 crore on the back of cargo volume growth. Revenue from the company's Port and SEZ activities rose to Rs 4,609.29 crore in the September quarter from Rs 3,530.68 crore last year.
Tech Mahindra | CMP: Rs 1,067.95 | The stock ended in the green after the firm declared its September quarter earnings. The company reported a 4 percent year-on-year fall in consolidated net profit at Rs 1,285 crore for the quarter ended September 30, higher than analysts' estimate of Rs 1,224 crore. Sequentially, net profit jumped 13.6 percent from Rs 1131.6 crore in the June quarter. Consolidated revenue from operations for the quarter came in at Rs 13,129.5 crore, higher by 3.3 percent sequentially and 20.6 percent year-on-year. Revenue stood at Rs 10,881.3 crore in the same quarter last fiscal. In dollar terms, the company's revenue stood at $1,638 million, up 0.3 percent QoQ and up 11.2 percent YoY, broadly in-line with analyst estimates. In constant currency terms, revenue growth came in at 2.9 percent QoQ.
Sun Pharmaceutical Industries | CMP: Rs 1,033 | The scrip ended in the green on November 1. The company reported an 8.2 percent year-on-year rise in consolidated net profit to Rs 2,260 crore for the quarter ended September, higher than analysts' estimate of Rs 1,968.4 crore. The drugmaker reported a 13.8 percent growth in consolidated revenue from operations to Rs 10,952.3 crore for the quarter, in line with analysts' estimates. During the quarter, the company booked foreign exchange-related losses of Rs 240 crore as against Rs 76 crore in the year-ago quarter, the company said.
UPL | CMP: Rs 718.30 | The stock ended in the red on November 1. The firm reported a 28.4 percent year-on-year rise in consolidated net profit at Rs 814 crore, slightly lower than analyst expectations of Rs 831 crore. Net profit stood at Rs 633 crore in the same quarter last fiscal. The company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for Q2FY23 stands at Rs 2,768 crore and EBITDA margin at 22.1 percent as against 19.4 percent in the year-ago period. The company's gross debt as of September 30 stood at Rs 32,550 crore, an increase from Rs 30,123 crore at the end of the June quarter. Net debt also increased to Rs 28,512 crore from Rs 26,480 crore in the June quarter.
Tata Steel | CMP: Rs 101.20 | The stock ended in the red on November 1. The steel major reported an 87 percent on-year decline in consolidated net profit at Rs 1,514 crore for the September quarter. Tata Steel's profit declined 80 percent sequentially. Consolidated revenue remained flat with a marginal decline of 1 percent year-on-year to Rs 59,878 crore. It was down 6 percent on-quarter. CLSA has downgraded the stock to 'sell' and cut the target price to Rs 90 from Rs 110 per share.
Adani Ports | CMP: Rs 840.90 | The share price was up over 2 percent after the firm reported a strong set of quarterly numbers on a YoY basis. Its consolidated net profit for the September quarter jumped 68.5 percent YoY to Rs 1,677.48 crore. Consolidated revenue from operations grew 32.8 percent to Rs 5,210.80 crore on the back of cargo volume growth. Revenue from the company's Port and SEZ activities rose to Rs 4,609.29 crore in the September quarter from Rs 3,530.68 crore last year.
Tech Mahindra | CMP: Rs 1,067.95 | The stock ended in the green after the firm declared its September quarter earnings. The company reported a 4 percent year-on-year fall in consolidated net profit at Rs 1,285 crore for the quarter ended September 30, higher than analysts' estimate of Rs 1,224 crore. Sequentially, net profit jumped 13.6 percent from Rs 1131.6 crore in the June quarter. Consolidated revenue from operations for the quarter came in at Rs 13,129.5 crore, higher by 3.3 percent sequentially and 20.6 percent year-on-year. Revenue stood at Rs 10,881.3 crore in the same quarter last fiscal. In dollar terms, the company's revenue stood at $1,638 million, up 0.3 percent QoQ and up 11.2 percent YoY, broadly in-line with analyst estimates. In constant currency terms, revenue growth came in at 2.9 percent QoQ.
Sun Pharmaceutical Industries | CMP: Rs 1,033 | The scrip ended in the green on November 1. The company reported an 8.2 percent year-on-year rise in consolidated net profit to Rs 2,260 crore for the quarter ended September, higher than analysts' estimate of Rs 1,968.4 crore. The drugmaker reported a 13.8 percent growth in consolidated revenue from operations to Rs 10,952.3 crore for the quarter, in line with analysts' estimates. During the quarter, the company booked foreign exchange-related losses of Rs 240 crore as against Rs 76 crore in the year-ago quarter, the company said.
UPL | CMP: Rs 718.30 | The stock ended in the red on November 1. The firm reported a 28.4 percent year-on-year rise in consolidated net profit at Rs 814 crore, slightly lower than analyst expectations of Rs 831 crore. Net profit stood at Rs 633 crore in the same quarter last fiscal. The company's Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for Q2FY23 stands at Rs 2,768 crore and EBITDA margin at 22.1 percent as against 19.4 percent in the year-ago period. The company's gross debt as of September 30 stood at Rs 32,550 crore, an increase from Rs 30,123 crore at the end of the June quarter. Net debt also increased to Rs 28,512 crore from Rs 26,480 crore in the June quarter.
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