Indian Stock Market Updates for November 7
The NSE Nifty 50 and BSE Sensex declined for a second session as Grasim Industries Ltd. and Hindalco Industries Ltd. shares weighed. The indices closed 0.34% and 0.18% down, respectively, at close.
Selling pressure was broad-based, as both the Nifty Midcap and Smallcap indices also closed in the red. Across the board, all sectoral indices ended lower, barring the Nifty IT index. This resilience in the IT sector helped it snap a four-day losing streak, driven by gains in heavyweights like Wipro and TCS.
Q2 Earnings Highlights
Ganesh Housing Q2 Highlights: Revenue fell 26.6% to Rs 174 crore versus Rs 237 crore. Ebitda was down 27% at Rs 148 crore versus Rs 203 crore. Margin stood at 85% versus 85.4%. Net Profit fell 30% to Rs 108 crore versus Rs 154 crore.
Bajaj Housing Finance Q2 Highlights: Total Income rose 14.3% to Rs 2,755 crore versus Rs 2,410 crore. Net Profit was up 17.8% at Rs 643 crore versus Rs 546 crore.
Goodyear India Q2 Highlights: Revenue fell 12.6% to Rs 596 crore versus Rs 682 crore. EBITDA was down 13.6% at Rs 26.9 crore versus Rs 31 crore. Margin stood at 4.5% versus 4.6%. Net Profit fell 17% to Rs 13 crore versus Rs 15.7 crore.
Crompton Greaves Q2 Highlights: Revenue rose 1% to Rs 1,916 crore versus Rs 1,896 crore. Ebitda was down 22.2% at Rs 158 crore versus Rs 204 crore. Margin stood at 8.3% versus 10.7%. Net Profit fell 43% to Rs 71.2 crore versus Rs 125 crore.
GMM Pfaudler Q2 Highlights: Revenue rose 12% to Rs 902 crore versus Rs 805 crore. Ebitda was up 30% at Rs 122 crore versus Rs 93.5 crore. Margin improved to 13.5% versus 11.6%. Net Profit jumped significantly to Rs 41.4 crore versus Rs 15.2 crore.
GSK Pharma Q2 Highlights: Revenue fell 3.1% to Rs 980 crore versus Rs 1,011 crore. Ebitda was up 4.4% at Rs 336 crore versus Rs 322 crore. Margin improved to 34.3% versus 31.8%. Net Profit rose 2% to Rs 257 crore versus Rs 253 crore.
Other Key Updates
Kirloskar Ferrous Q2 Highlights: Revenue rose 3.4% to Rs 1,755 crore versus Rs 1,698 crore. Ebitda was down 1.1% at Rs 214 crore versus Rs 217 crore. Margin stood at 12.2% versus 12.8%. Net Profit fell 9.3% to Rs 86.3 crore versus Rs 95.1 crore.
Triveni Engineering Q2 Highlights: Revenue rose 14.5% to Rs 1,707 crore versus Rs 1,491 crore. Ebitda was up significantly at Rs 66.6 crore versus Rs 4.6 crore. Margin stood at 3.9% versus 0.3%. Net Profit swung to a profit of Rs 25.9 crore versus a loss of Rs 19.2 crore.
NHPC Q2 Highlights: Revenue rose 10.3% to Rs 3,365 crore versus Rs 3,052 crore. Ebitda was up 12.3% at Rs 2,027 crore versus Rs 1,805 crore. Margin improved to 60.2% versus 59.1%. Net Profit rose 13.5% to Rs 1,021 crore versus Rs 900 crore.
Lupin Q2 Highlights: Revenue rose 24.2% to Rs 7,048 crore versus Rs 5,673 crore. Ebitda was up 74.7% at Rs 2,341 crore versus Rs 1,340 crore. Margin improved significantly to 33.2% versus 23.6%. Net Profit soared 73.3% at Rs 1,478 crore versus Rs 853 crore.
Market Outlook
Nifty Nov futures is down 0.28% to 25,637.20 at a premium of 127.5 points. Nifty Nov futures open down by 0.10%. Nifty Options 11th Nov Expiry: Maximum Call open interest at 26,000 and Maximum Put open interest at 25,000.
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