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Bajaj Finance Q2 profit climbs 49% on higher core income, lower provisions

by 5paisa Research Team 26/10/2021

Non-bank lender Bajaj Finance Ltd reported a 49% increase in its standalone net profit for the second quarter, as its core income grew and provisions fell. 

Standalone net profit during the second quarter rose to Rs 1,306 crore for the July-September period from Rs 877 crore a year earlier, the company said.

Consolidated net profit jumped 53% to Rs 1,481 crore. The consolidated figure includes results of two subsidiaries—Bajaj Housing Finance Ltd and Bajaj Financial Securities Ltd.

The lender said its net interest income for Q2 increased by 26% to Rs 4,920 crore as against Rs 3,918 crore in the corresponding period of last year. Loan losses and provisions fell to Rs 1,239 crore from Rs 1,635 crore a year earlier.

During the quarter, the company did accelerated write-offs of Rs 355 crore of principal outstanding on account of Covid-19 related stress and advancement of the write-off policy, Bajaj Finance said.

During the three months ended September, Bajaj Finance booked 6.33 million new loans as compared to 3.62 million loans during the year-ago period. 

Shares of the company climbed 2.7% on Tuesday to end at Rs 7,849.15 apiece on the BSE. The shares have fallen 2% since touching a one-year high of Rs 8,020.20 last week, but are still up 142% over the past one year.

Bajaj Finance Q2: Other highlights

1) Standalone net interest income rose to Rs 4,902 crore, an increase of 26% over the same period last year. 

2) Consolidated net interest income came in at Rs 5,335 crore, an increase of an even higher 28%.

3) The consolidated gross NPA ratio stood at 2.45% against 2.96% in the first quarter.

4) The lender saw its net NPA ratio improve to 1.1% from 1.46% three months before.

5) Assets under management on a standalone basis grew 17% to Rs. 1.23 lakh crore from a year earlier.

6) On a consolidated basis, the AUM rose 22% to Rs 1.67 lakh crore.

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Cipla beats expectations for profit and revenue growth in Q2

by 5paisa Research Team 26/10/2021

Cipla Ltd came up with better-than-expected revenue as well as earnings growth for the three months ended September, allaying analyst concerns that the receding impact of Covid-19 will reduce sales of associated medicines and affect its financial performance.

Cipla, one of the top drugmakers in the country, reported a net profit of Rs 711 crore for the second quarter. This is 6.9% more than the same quarter last year and just marginally lower than Rs 715 crore in the quarter ended June 30. Analysts had expected a profit of around Rs 700.

EBITDA climbed to Rs 1,226 crore from Rs 1,177 crore in the year-ago period but declined from Rs 1,346 crore in the first quarter. This was also higher than the market expectations of around Rs 1,150 crore.

Cipla posted 9.5% growth in revenue to Rs 5,520 crore from Rs 5,038 crore in the year-ago period and a sequential rise of 0.3% over the first quarter. While some brokerage houses had put an estimate of Rs 5,510 crore, most expected the company to come up with revenues in the region of around Rs 5,200 crore for the quarter.

The Mumbai drugmaker’s share price, which has corrected by around 10% since last month, closed at Rs 907.3 apiece, up 0.6% on Tuesday. The company declared its results after trading stopped for the day.

Cipla Q2: Other highlights

1) India business grew 16% YoY on high FY21 base led by sustained volume traction across core therapies.

2) Covid-19 portfolio contribution normalised in-line with expectations; on a sequential basis, it declined 11%.

3) US business reported $142 million in revenue, which is a multi-quarter high.

4) Steady momentum in core products offsets price erosion in rest of the portfolio.

5) Africa business grew 8% YoY in US dollar terms.

6) Sub-Saharan Africa growth was affected by delays in order confirmation from select clients

7) South Africa private business posted strong growth especially in central nervous system, respiratory and anti-infectives therapies.

Cipla management commentary

Umang Vohra, MD and Global CEO at Cipla, said the company recorded strong momentum in core therapies across its branded markets and sustained cost control. This led to 10% revenue growth and 22.2% EBITDA margin for the quarter, offsetting price erosion and normalising Covid-19 contribution.

“In India, we continue to drive strong performance led by sustained volume traction despite a high FY21 base. Our collaboration with Eli Lily for their diabetes products helps us further strengthen our endeavour of creating access to innovative medicines in-line with the One-India strategy,” Vohra said.

He also said that the US business witnessed a healthy run rate, driven by its core portfolio and traction in respiratory franchise across Albuterol and Arformoterol medications. “International markets rebounded in-line with expectations despite continuing geopolitical challenges,” he added.

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Chart Busters: Top trading set-ups to watch out on Wednesday

Chart Busters: Top trading set-ups to watch out on Wednesday
by 5paisa Research Team 27/10/2021

On Tuesday, the benchmark index Nifty has gained 143 points or 0.79%. The index has closed at the 18268.40 level. The price action has formed a small body bullish candle. Interestingly, the daily RSI has taken support near the 60 mark and started rising higher. This is a bullish sign as per the RSI range shift rules. The Nifty Midcap 100 and Nifty Smallcap 100 has outperformed the benchmark indices on Tuesday. The advance-decline ratio was in the favour of advancers.

Here are the top trading set-ups to watch out for on Wednesday.

Aptech: The major trend of the stock is bullish as it is marking the sequence of higher tops and higher bottoms on the daily chart. Further, it is trading above its short and long-term moving averages. These averages are in a rising trajectory, which is a bullish sign. After registering the high of Rs 325.50, the stock was traded in a narrow range along with low volume. Due to the narrow range, the Bollinger band has been contracted significantly, which is an early sign of the explosive move. On Tuesday, the stock has given consolidation breakout on the daily chart. This breakout was supported by a robust volume of more than three times of 50-days average volume. This indicates strong buying interest by market participants. In addition, the stock has formed a sizeable bullish candle on breakout day, which adds strength to the breakout.

The momentum indicators and oscillators are also suggesting further bullish momentum. The leading indicator, 14-period daily RSI is in a bullish trajectory and it is in rising mode. Currently, the RSI is quoting at 70.91 level. The weekly RSI is also in bullish territory. The directional movement index is also at a strong point. The ADX is at 24.86 and +DI is above the –DI on the daily time frame. On the weekly time frame, ADX is above 40 and +DI is above the – DI which indicates the trend is up.

Technically, all the factors are currently aligned in support of the bulls. Hence, we would advise the traders to be with a bullish bias. On the upside, the level of Rs 360 will act as strong resistance for the stock. While on the downside, Tuesday’s low of Rs 305.40 will act as strong support for the stock.

Jagsonpal Pharmaceuticals: The stock has formed a Spinning top like candlestick pattern as of August 03, 2021, and thereafter witnessed correction. The correction is arrested near its 61.8 per cent Fibonacci retracement level of its prior upward move (Rs 96.35-Rs 203.90 level). On Tuesday, the stock has given a 29-days consolidation breakout on the daily chart. This breakout was supported by robust volume. Further, the stock has formed an opening bullish marubozu candlestick pattern on breakout day, which indicates extreme bullishness.

All the moving averages based on trade set-ups are showing a bullish strength in the stock. Daryl Guppy’s multiple moving averages is suggesting a bullish strength in the stock. The stock is trading above all the 12 short and long term moving averages. The averages are all trending up, and they are in a sequence. The stock's Relative Strength Index (RSI) has reached its highest value in the last 14-days, which is bullish. Also, it has managed to close above its prior swing high. The daily MACD stays bullish as it is trading above its zero line and signal line. The histogram is suggesting a pickup in upside momentum.

Based on the above observations, we expect the stock to continue its upward movement and test levels of Rs 188 followed by Rs 203 in the short term. On the downside, the 20-day EMA will act as strong support for the stock, which is currently quoting at Rs 158.90 level.

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F&O Cues: Key support and resistance levels for Nifty 50

F&O Cues: Key support and resistance levels for Nifty 50
by 5paisa Research Team 27/10/2021

The level of 18,000 will act as key support while 18,500 will be strong resistance. 

After forming a base on Monday’s trade and arresting its fall, the frontline equity indices finally saw gains in yesterday’s trade. Though the session remained volatile, at one point in time Nifty 50 was trading in red, but by the end of the trading session, it closed in green and gained 0.8 %.

Such a reversal in the trading led to heavy call unwinding at 18,200 strike price and 42793 calls were shed at that price. In terms of overall open interest, maximum open interest stood at a strike price of 18,500, which will act as a strong resistance. Total call open interest of 1,25,093 contracts stood at a strike price of 18,500. Call writing was seen at 18,600 and 18,650. Total open interest at the strike price of 18,600 stood at 86,397.

The highest put writing was seen at strike price 18200 (25,872 contracts added on October 26), followed by 18,300 (19,750 contracts added on October 26), while there was put unwinding at strike price 17,000 (12476 contracts shed), followed by 17,500 (8541 contracts shed).

Highest total put open interest of 86,972 contracts stood at a strike price of 18,000, which will act as strong support for the market in near future. This is followed by strike price 18200, which saw a total put option of 81,571 contracts, while strike price 17,500 has 70,263 contracts in open interest.

The Nifty 50 put call ratio (PCR) closed at 0.81. A PCR above 1 is considered bullish while a PCR below 1 is considered bearish.

Following table shows the participant wise action of key players on the index options front.

   

Index Put Options  

Client Type  

Change of OI*  

% Change of OI*  

Oct 26 2021  

Oct 25 2021  

Oct 22 2021  

Client  

24842  

-8.67%  

-261825  

-286667  

-355420  

Pro  

-17630  

50.24%  

-52725  

-35095  

28774  

DII  

0  

0.00%  

64190  

64190  

68935  

FII  

-7212  

-2.80%  

250360  

257572  

257711  

*Change from Previous Day  

   

   

   

   

   

   

   

Index Call Options  

Client Type  

Change of OI*  

% Change of OI*  

Oct 26 2021  

Oct 25 2021  

Oct 22 2021  

Client  

-91087  

-90.39%  

9682  

100769  

67784  

Pro  

81888  

-42.83%  

-109292  

-191180  

-145593  

DII  

0  

0.00%  

401  

401  

401  

FII  

9200  

10.22%  

99210  

90010  

77408  

*Change from Previous Day  

   

   

   

   

   

   

   

Net Change in Open Interest  

Client Type  

Change of OI*  

% Change of OI*  

Oct 26 2021  

Oct 25 2021  

Oct 22 2021  

Client  

-115929  

-29.92%  

271507  

387436  

423204  

Pro  

99518  

-63.76%  

-56567  

-156085  

-174367  

DII  

0  

0.00%  

-63789  

-63789  

-68534  

FII  

16412  

-9.79%  

-151150  

-167562  

-180303  

*Change from Previous Day  

   

   

   

   

   

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5 Stocks to Buy Today: October 27, 2021

5 Stocks to Buy Today: October 27, 2021
by 5paisa Research Team 27/10/2021

Every morning our analysts scan through the markets universe and chose the best momentum stocks to buy today. The stocks are recommended from a wider list of momentum stocks and only the best ones make it to the top 5 list. We also update on the performance of earlier recommendation every morning to help you with your trading journey. Read on to know the momentum stocks to buy today. The average holding period could be between 7-10 days on average.

List of 5 Stocks to Buy Today October 27

1. Tata Chemicals (TATACHEM)

Tata Chemicals Stock Details for Today

- Current Market Price: Rs. 1,007

- Stop Loss: Rs. 979

- Target 1: Rs. 1,035

- Target 2: Rs. 1,077

- Holding Period: One week

5paisa Recommendation: Our technical experts see recovery on cards in this stock hence making this stock best stock to buy.

 

2. Central Depository (CDSL)

Central Depository Stock Details for Today: 

- Current Market Price: Rs. 1,395

- Stop Loss: Rs. 1,347

- Target 1: Rs. 1,433

- Target 2: Rs. 1,480

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see sideways move to end in the stock and recommends buying this stock.

 

3. Tci Express (TCIEXPRESS)

Tci Express Stock Details for Today: 

- Current Market Price: Rs. 1,836

- Stop Loss: Rs. 1,781

- Target 1: Rs. 1,890

- Target 2: Rs. 1,985

- Holding Period: 1 week

5paisa Recommendation: Positive chart in stock is expected and thus making this stock as one of the best stocks to buy today.

 

4. Man Infraconstruction (MANINFRA)

Man Infraconstruction Stock Details for Today: 

- Current Market Price: Rs. 123

- Stop Loss: Rs. 120

- Target 1: Rs. 126

- Target 2: Rs. 131

- Holding Period: 1 week

5paisa Recommendation: Our technical experts see strong volume in this stock hence making this stock best stock to buy.

 

5. Tatva Chintan (TATVA)

Tatva Chintan Stock Details for Today: 

- Current Market Price: Rs. 2,560

- Stop Loss: Rs. 2,490

- Target 1: Rs. 2,610

- Target 1: Rs. 2,750

- Holding Period: 1 week

5paisa Recommendation: Positive momentum in stock is expected and thus making this stock as one of the best stocks to buy today.

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Multibagger Alert: Rs 1 lakh invested in this liquor stock would have given you Rs 7.8 lakh in five years

Multibagger Alert: Rs 1 lakh invested in this liquor stock would have given you Rs 7.8 lakh in five years
by 5paisa Research Team 27/10/2021

Long-term investors have made a huge profit by investing in Radico Khaitan as it has surged by 687% in the last five years.

The stock of multibagger Radico Khaitan rallied from Rs 140 in October-2016 to Rs 1,109 today, gaining 687% in the last 5-years. Rs 1 lakh invested in 2016 would have become Rs 7.87 lakh in 2021.

From the beginning of the year 2021, the stock has rallied 142%, from Rs 456 to Rs 1,109. Rs 1 lakh invested in Jan-2021 would have become Rs 2.42 lakh today in just 10 months.

Products and brands

Radico Khaitan is one of the largest and oldest manufacturers of IMFL (Indian Made Foreign Liquor). The company has a wide range of branded portfolios across IMFL categories of Whisky, Brandy, Rum and White spirits. Currently, it has four millionaire brands which are 8 PM Whisky, Contessa Rum, Old Admiral Brandy and Magic Moments Vodka.

Market leader

Magic Moments leads the vodka Industry in India with over 58% market share whereas Morpheus Brandy leads the premium brandy category with over 56% market share. During the last decade, the company has launched 12 new brands of which 11 are in the premium category.

Highly experienced promoters 

Khaitan Family, the promoters and management of Radico Khaitan have been in the liquor industry since 1943. That is for more than seven decades of great experience.

Steep profit growth

In the last five years from FY16 to FY21, revenue has grown at a CAGR of 8% but profit has grown at a CAGR of 28% which shows the steep growth of the company. There is a decent increase in operating profit margin from 12% in FY16 to 17% in FY21, due to cost optimization in materials used for manufacturing.

Though stock had a massive rally in the past with strong performance, do you still think the company can utilize the present situation and gain momentum?

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