How were the indices this week?
This week the Nifty was flat only on Monday, and later on started to fall. This I told even in the previous weekly wrap ep#2 also. The main reasons which must have pressured Nifty downwards should be the increase in war tensions, and the selling pressure from FIIs. Even recently we could see that Israel has made an attack in response to the earlier attack from Iran. Now this could make Nifty to open in red from the start. FIIs are selling Indian stocks and are investing in Chinese stocks. The main reason for this is, the Chinese markets look undervalued in comparison with India's. The another reason for the shift could be the short term momentum created in the Chinese stock market.
The Sensex fell below 80,000 points. The S&P BSE small cap Index corrected very badly by 6.52% or 3,648.79 points this week.
The Nifty VIX rose by 7.65% to 14.63 this week. This shows an increase in volatility in the markets.
Even now I feel the market might fall further as I could not see anything positive as of now to push the markets to the previous highs. But returning of FIIs or reducing tensions in the Middle East could push the markets upwards. At this point we must be very careful with our investments. We must try to avoid bulk purchase of shares instead, we must accumulate fundamentally strong value stocks.
Gold:
Gold was moving sideways this week. It was mostly trading between $2,737 and $2,755 range this week except on Wednesday in MCX.
With the festival season comming we expect the gold price to rise further. So it is always better to accumulate gold. The two best ways which I told these days were gold coins/bars, and SGBs. But a solution applicable for investing in gold even for a common man is by purchasing gold etfs. A single unit if etf just cost around 65 to 67 Rs approximately.
Do consult your financial advisor to guide you to choose a right way to invest in gold.
Niva Bupa Health Insurance, Paras Healthcare get SEBI nod for Rs 3,000 crores IPO:
Health insurer Niva Bupa got approval for raising Rs 3,000 crores through IPO. The face value of the shares would be Rs10. Out of the total 3000 crores, Rs 2,200 crores is an offer for sale and the remaining Rs800 crores is fresh issue.
Paytm q2 results:
Paytm reported net profit of Rs 930 crores in its q2 results. But this net profit includes a one time gain of moving ticketing business to Zomato. Excluding this, the company's results would have been net loss of Rs 415 crores.
Coal India q2 results and announcement of interim dividend:
Coal India resorted its net profit declined by 22%, on a Y-o-Y basis, to Rs 6,289 crores. The company's revenue from operations stood at Rs 30,672 crores.
The company has announced an interim dividend of Rs 15.75 per share. November 5 is fixed as the record date for the purpose of interim dividend.
The company's share has corrected a bit. Since I have analyzed the company before few months I'll try to make an update on the shares of the company. After I analyzed the stock rose to the highs of Rs 540 and later corrected.
BPCL q2 results:
BPCL reported a 72% decline in its net profit on Y-o-Y to Rs 2,297 crores. It's revenue from operations stood at Rs 1.18 lakh crores
Bharat Electronics q2 results:
Bharat Electronics reported growth in net profit by 34.4% on Y-o-Y basis to Rs 1,091.3 crores. The company's revenue from operations stood at Rs 4,583.4 crores. The company also reported that, its order book stood at Rs 74,595 crores.
ICICI Bank q2 results:
Icici bank's net profit rose by 14.5% Y-o-Y to Rs 11,754.9 crores. The NII rose by 9.5%. The bank's GNPA fell to 2.15% and NNPA was at 0.42%. The bank's domestic loan portfolio grew by 15.7% Y-o-Y, and the total period end deposits rose by 15.7% Y-o-Y.
Bank of Baroda [BoB] q2 results:
Bank of Baroda reported growth in its net profits by 23.2% Y-o-Y to Rs 5,238 crores. The bank's NII rose by 7.3% to Rs 11,622 crores. The bank's GNPA fell to 2.5% and NNPA fell to 0.6%.
The bank reported that, its deposits grew by 7.1% domestically and international deposits rose by 21.2%. Further, the retail advances grew by 9.1%.
Torrent Pharma q2 results:
Torrent Pharma's net profit rose by 17.4% Y-o-Y to Rs 453 crores. The company's revenue from operations grew by 8.6% to Rs 2,889 crores.
Zomato q2 results:
Zomato's revenue grew by 389% Y-o-Y to Rs 176 crores, and the revenue rose by 68% Y-o-Y to Rs 4,799 crores. Even Blinkit also made a good performance.
Further Zomato plans to raise Rs 8,500 crores through qualified institutional placements [QIP].
HUL q2 results:
HUL's net profit fell by 4% on Y-o-Y to Rs 2,612 crores. The company's revenue rose by 2% to Rs 15,319 crores.
Godrej Consumer q2 results and announcement of interim dividend:
Godrej Consumer reported an increase in net profit by 13.5% Y-o-Y to Rs 491.31 crores. The company's revenue from operations grew by 1.5% and stood at Rs 3,663.3 crores.
The board of the company approved an interim dividend of Rs 5 per share. The record date is fixed as November 1, and the dividend will be credited on our before November 23.
ITC q2 results and acquisition of shares in EIH and HLV :
The net profit of ITC grew by 2% Y-o-Y to Rs 4,993 crores. The company's revenue from operations stood at Rs 22,282 crores.
Further, the company's board has approved the acquisition of 1.52 crores of shares of EIH and 34.6 lakh shares of HLV from Russell Credit, a wholly owned subsidiary of the company [reported by Economic Times].
TVS Motors q2 results:
TVS Motors reported a 23.5% Y-o-Y growth in net profit at Rs 662.6 crores. The company's revenue from operations stood at Rs 9,228.2 crores.
IndusInd Bank q2 results:
IndusInd Bank reported a decline in net profit by 39% Y-o-Y to Rs 1,325 crores. The company's NII rose by 5% Y-o-Y, and the NIM declined by 21 basis points on Y-o-Y to 4.08%. The bank's deposits grew by 15%.
The bank reported its GNPA at 2.11% and NNPA at 0.64%. Both have slightly increased.
Ultratech Cement q2 results:
Ultratech Cement reported a decline in net profit by 36% Y-o-Y to Rs 825 crores. The company's revenue stood at Rs 15,635 crores.
Bajaj Housing Finance q2 results:
The company has reported a 21% increase in net profit to Rs 545.6 crores on Y-o-Y basis. The company's revenue from operations stood at Rs 2,410 crores.
The GNPA was at 0.29% and NNPA was at 0.12%.
Cyient DLM q2 results:
Cyient DLM reported a 5.5% increase in net profit at Rs 15.4 crores on Y-o-Y basis. The company's revenue from operations stood at Rs 389.4 crores
Ujjivan Small Finance Bank q2 results:
Ujjivan Small Finance Bank reported a decline in net profit by 23% to Rs 233 crores. The bank's NII rose by 9.5% and NIM stood at 9.2%. The bank's gross loan book grew by 14% Y-o-Y to Rs 30,344 crores. The deposits grew by 17% Y-o-Y.
Further, the bank's GNPA was at 2.5% and NNPA was at 0.6%. The bank's provisions was at Rs 151 crores.
Jana Small Finance Bank q2 results:
The bank reported a decline in its net profit by 21.3% Y-o-Y to Rs 96.7 crores. The bank's NII rose by 13%. The total deposits grew by 31% Y-o-Y. The bank reported its GNPA at 2.97% and NNPA was at 0.99%.
Adani Energy Solutions q2 results:
Adani Energy Solutions reported a 145% growth Y-o-Y at Rs 675 crores [consolidated figure]. The company's revenue from operations stood at Rs 6,184 crores.
Varun Beverages q2 results:
Varun Beverages reported a 22.3% increase in net profits on Y-o-Y basis to Rs 628.83 crores. The company's revenue from operations stood at Rs 4,804.68 crores.
HPCL q2 results:
HPCL reported a 97.5% decline in its net profits on a Y-o-Y basis to Rs 142.67 crores. The company's revenue from operations stood at Rs 1,08,267.6 crores.
Bajaj Finserv exit from Allianz JV:
Bajaj Finserv recently announced that its insurance joint venture [ JV] partner Allianz has indicated it is considering an exit from the life and general insurance JVs. But Bajaj Finserv has said that the discussions are at preliminary stage only and there is no proposal before the board of the company or its insurance subsidiaries in this regard.
BAT-ITC demerger update:
British American Tobacco [BAT] plans to sell its stake in the ITC's hotel business, that is ITC Hotels.
Mazagon Dock stock split and dividend:
The company announced its intention to split the shares in 1:2 ratio. The record date for stock split has not been announced yet.
Further, the company declared an interim dividend of Rs. 23.19 per equity share. The record date for the interim dividend is fixed as October 30.
Epack durable and Hisense tie up:
China based Hisense has tied up with EPACK Durable for setting a manufacturing unit in India to manufacture air conditioners and appliances for domestic and also for international markets.
Reliance Infrastructure will raise Rs 6,000 crores through debt and equity:
The shareholders of Reliance Infrastructure approved the company's plan to raise Rs 6,000 crores through shares/ convertible warrents, and QIPs. The first phase will involve raising Rs 3,014 crores through preferential allotment, and in the second phase the remaining Rs 3,000 crores wild be raised by QIP.
HDFC Bank's board has approved the IPO for HDB Financial:
The HDFC Bank's board has approved the IPO worth Rs 12,500 crores of its subsidiary HDB Financial. Out the total IPO, Rs 10,000 crores is offer for sale where HDFC Bank will sell its stake. The remaining Rs2,500 will be raised through fresh issue. The proceeds from the IPO are expected to be used for expanding its lending and enhancing the digital infrastructure.
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Disclaimer:
I'm not SEBI registered. I request the readers to consult a SEBI registered advisor before taking any investment decisions.
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