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#STREETGAINS #MARKETSVIEW #29OCTOBER2024
October 29, 2024
INDIAN MARKETS:
On October 28, At close, the Sensex was up 602.75 points or 0.76 percent at 80,005.04, and the Nifty was up 158.35 points or 0.65 percent at 24,339.15.
US MARKETS:
The S&P 500 gained 15.4 points, or 0.27%, to 5,823.52, while the Nasdaq Composite gained 48.58 points, or 0.26%, to 18,567.19. The Dow Jones Industrial Average rose 273.17 points, or 0.65%, to 42,387.57.
ASIAN MARKETS:
The previous close saw the Topix rise by 0.37%, the Nikkei gain 0.13%, the Hang Seng edge up by 0.61%, Taiwan decreased by 1.14%, and the Kospi also declined by 0.29%.
OIL & GAS UPDATES:
US West Texas Crude increased by 0.52%.
Brent Crude increased by 0.55%.
KEY QUARTERLY EARNINGS:
Bharti Airtel Q2 (QoQ)
Profit down 13.6% to Rs 3,593.2 crore; revenue up 7.7% to Rs 41,473.3 crore; EBITDA increased 10.4% to Rs 22,020.9 crore with margin at 53.1%; exceptional loss of Rs 853.7 crore compared to a prior gain; other income at Rs 254.7 crore, tax expenses rose to Rs 1,744 crore.
Federal Bank Q2 (YoY)
Profit up 10.8% to Rs 1,057 crore; net interest income grew 15.1% to Rs 2,367 crore; gross NPA at 2.09%, net NPA at 0.57% (QoQ).
JSW Infrastructure Q2 (YoY)
Profit rose 46% to Rs 371.5 crore; revenue up 18% to Rs 1,001.4 crore.
Tata Technologies Q2 (YoY)
Profit declined 1.9% to Rs 157.4 crore; revenue grew 2.2% to Rs 1,296.5 crore; EBITDA up 10% to Rs 235.5 crore with margin at 18.2%; collaborated with Air India for aircraft transformation.
Suzlon Energy Q2 (YoY)
Profit surged 96.1% to Rs 200.6 crore; revenue jumped 47.7% to Rs 2,093 crore.
Adani Power Q2 (YoY)
Profit down 50% to Rs 3,297.5 crore; revenue up 2.7% to Rs 13,338.9 crore; other income declined to Rs 724 crore; tax expenses at Rs 836.6 crore.
Kalpataru Projects International Q2 (YoY)
Profit up 40% to Rs 126 crore; revenue grew 9% to Rs 4,930 crore; EBITDA rose 18% to Rs 438 crore with margin at 8.9%.
KEY STOCKS TO WATCH:
Tata Power: The company has signed a Share Purchase Agreement to acquire a 40% stake in Khorlochhu Hydro Power (KHPL) for ₹830 crore, with the investment to be made in one or more tranches.
Infosys: Infosys has completed the acquisition of Germany-based Blitz 24-893 SE through its subsidiary, Infosys Singapore Pte.
Dr Reddy's Laboratories: Dr. Reddy's has launched Elobixibat in India, a drug for treating chronic constipation, under the brand name BixiBat.
FII/DII DATA:
1. FIIs net SOLD Rs 3,228 crore worth shares on 28 October
2. DIIs net BOUGHT Rs 1,400 crore worth shares on 28 October.
Thank you, have a great Trading Day ahead!!