Nifty 17026.45 (-2.91%)
Sensex 57107.15 (-2.87%)
Nifty Bank 36025.5 (-3.58%)
Nifty IT 34606.1 (-1.97%)
Nifty Financial Services 17614.7 (-3.56%)
Adani Ports 717.15 (-5.94%)
Asian Paints 3143.10 (-0.04%)
Axis Bank 661.75 (-2.67%)
B P C L 376.85 (-5.81%)
Bajaj Auto 3334.60 (-1.68%)
Bajaj Finance 6807.05 (-4.47%)
Bajaj Finserv 16682.55 (-3.95%)
Bharti Airtel 738.75 (-3.45%)
Britannia Inds. 3555.30 (-0.51%)
Cipla 966.70 (7.42%)
Coal India 155.90 (-1.67%)
Divis Lab. 4937.80 (2.88%)
Dr Reddys Labs 4750.90 (3.47%)
Eicher Motors 2433.90 (-3.43%)
Grasim Inds 1690.10 (-4.34%)
H D F C 2741.70 (-4.40%)
HCL Technologies 1110.05 (-1.31%)
HDFC Bank 1489.90 (-2.36%)
HDFC Life Insur. 670.65 (-2.64%)
Hero Motocorp 2529.40 (-2.52%)
Hind. Unilever 2335.10 (-0.59%)
Hindalco Inds. 417.00 (-6.72%)
I O C L 120.95 (-3.74%)
ICICI Bank 722.20 (-3.84%)
IndusInd Bank 901.80 (-5.99%)
Infosys 1691.65 (-1.79%)
ITC 224.00 (-3.16%)
JSW Steel 628.65 (-7.67%)
Kotak Mah. Bank 1964.30 (-3.48%)
Larsen & Toubro 1778.15 (-3.88%)
M & M 853.75 (-4.20%)
Maruti Suzuki 7170.50 (-5.31%)
Nestle India 19222.25 (0.23%)
NTPC 128.85 (-4.70%)
O N G C 147.10 (-5.16%)
Power Grid Corpn 202.00 (-1.10%)
Reliance Industr 2412.60 (-3.22%)
SBI Life Insuran 1130.35 (-2.51%)
Shree Cement 25945.80 (-2.72%)
St Bk of India 470.50 (-4.09%)
Sun Pharma.Inds. 767.30 (-1.99%)
Tata Consumer 766.70 (-5.09%)
Tata Motors 460.20 (-6.61%)
Tata Steel 1112.30 (-5.23%)
TCS 3446.85 (0.03%)
Tech Mahindra 1527.40 (-2.05%)
Titan Company 2292.30 (-4.40%)
UltraTech Cem. 7394.75 (-2.81%)
UPL 703.80 (-3.23%)
Wipro 621.45 (-2.40%)

Closing Bell: Market Recap: Nifty reclaims 18,250, Sensex surges by 383 points led by metal, auto and realty stocks

Market Recap: Nifty reclaims 18,250, Sensex surges by 383 points led by metal, auto and realty stocks
by 5paisa Research Team 26/10/2021

Indian markets ended higher for the second consecutive day on Tuesday led by gains in auto, realty and metal stocks.

Domestic equity benchmarks Sensex and Nifty extended gains for the second day in a row on October 26, supported by financial and oil & gas stocks. Buying in Tata Motors, Tata Steel, Titan and Tech Mahindra stocks also aided the overall gain on the bourses today. Broader markets as well surged with the BSE midcap and smallcap gaining over 1.5% each.

At the closing bell on Tuesday, the Sensex closed higher by 383.21 points or 0.63% at 61350.26, and the Nifty ended up by 143.00 points or 0.79% at 18268.40. On the advance-decline ratio, around 2174 shares advanced, 1007 shares have declined, and 150 shares were unchanged.

Top gainers on Tuesday were Tata Motors, Tata Steel, Titan Company and Bajaj Finance. The top losers of the day were IndusInd Bank, ICICI Bank, Power Grid Corp, HUL and NTPC. SBI, HDFC and Kotak Mahindra gained with a spike in volume on Tuesday. These trending stocks also traded at a fresh 52 week on Tuesday.

On the sectoral basis, all indices ended higher with auto, realty, metal, oil & gas indices up by 1-3%.

The share price of Kotak Mahindra Bank jumped as much as 2.74% to Rs 2,219.50 after the bank reported a 23.76% quarter-on-quarter rise at Rs 2,032.01 crore in its net profit for the July-September period of the financial year 2021-22 (Q2 FY22).

On the earnings front, top-tier companies including India's leading car maker Maruti Suzuki, Larsen and Toubro (L&T) and cigarette maker ITC will come out with their report later this week.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Axis Bank trumps forecasts with 86% surge in Q2 profit as provisions drop

by 5paisa Research Team 26/10/2021

Axis Bank on Tuesday reported a massive 86% jump in standalone net profit for the three months ended September thanks to a sharp drop in provisions for possible bad loans.

India’s third-largest private-sector bank said it posted a net profit of Rs 3,133 crore for the second quarter, up from Rs 1,682 crore clocked during the corresponding period of 2020-21. 

This exceeds expectations of analysts, who had projected the net profit to be around Rs 3,000 crore.

Axis Bank said the surge in profit was mainly on account of a significant growth in its loan book across certain segments, limited restructuring as well as an improvement in asset quality metrics. 

The bank reported an 8% increase in its net interest income for the quarter on a year-on-year basis to Rs 7,900 crore and its lowest gross non-performing asset (NPA) ratio in 20 quarters. 

Axis Bank Q2: Other highlights

1) Gross NPA fell to 3.53% of the loan book from 3.85% in the June quarter and 4.18% a year earlier.

2) Net NPA ratio was at 1.08%, down 12 basis points sequentially but up 5 bps year on year.

3) Specific loan loss provisions stood at Rs 927 crore compared with Rs 2,865 crore in Q1 and Rs 724 crore a year earlier.

4) Total provisions and contingencies fell to Rs 1,735 crore from Rs 3,302 crore in Q1 and Rs 4,343 crore a year earlier.

5) Provision coverage, as a proportion of gross NPAs stood at 70% versus 77% a year earlier.

Axis Bank management commentary

Axis Bank MD and CEO Amitabh Chaudhry said the lender is seeing “solid progress” on the business front. “We continue our focus on SMEs and mid-corporate segments, and on the retail side we see better disbursements and growth driven by secured products,” he said.

The bank said slippages in Q2 moderated due to regulatory forbearances that do not exist in the current quarter. Recoveries and upgrades from NPAs during the quarter were Rs 4,757 crore while write-offs were Rs 2,508 crore. Consequently, net slippages in NPAs (before write-offs) fell to Rs 707 crore from Rs 3,976 crore in the first quarter.

Net slippages in NPAs (before write-offs) for retail loans stood at Rs 697 crore, the bank said.

The bank’s subsidiaries also delivered strong performance with reported total profit after tax of Rs 267 crore, up 38% from a year earlier. Axis AMC’s average AUM for the quarter grew by 52% year on year to Rs 2,38,177 crores and its Q2 profit rose 38% to Rs 74 crore. Axis Finance’s profit jumped 82% to Rs 78 crore while Axis Securities’ net profit for Q2 soared 57% to Rs 61 crore.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

Penny Stock Update: These stocks gained up to 9.76% on Tuesday

Penny Stock Update: These stocks gained up to 9.76% on Tuesday
by 5paisa Research Team 26/10/2021

Today Indian equity markets closed with a green mark after witnessing a downward trend since last week. In today’s trade BSE Realty was the top gainer.

After, a continued downward trend last week, the Indian equity market started this week trading on a very volatile note on Monday and in today’s trade equity markets closed up on a positive note. On October 26, all the sectoral indices have closed up in positive with a green mark.

Nifty 50 and BSE Sensex are up by 143.00 points i.e., 0.79% and 383.21 points i.e., 0.63% in today’s trade respectively. Stocks pulling the BSE Sensex index up are Reliance Ltd, Bajaj Finance Ltd, Kotak Mahindra, Titan Company and Tata Steel Ltd. Whereas, stocks that dragged the BSE Sensex down are ICICI Bank Ltd, IndusInd Bank Ltd, Power Grid Corp of India Ltd, HDFC Bank Ltd and HUL. Moreover, stocks pulling Nifty 50 up are the same as BSE Sensex stocks and Tata Motors. While, stocks pulling Nifty 50 down are ICICI Bank Ltd., HDFC Bank, HUL, IndusInd Bank Ltd and Infosys Ltd.

In today’s trade, S&P BSE Realty, S&P BSE Metal, S&P BSE CONSUMER DURABLES, S&P BSE Basic Material and S&P BSE Smallcap were top gainers which closed up positive. BSE Realty index consisting of stocks such as Brigade Enterprises Ltd, Sunteck Realty Ltd, Prestige Estates Projects Ltd and Mahindra Lifespace Developers Ltd, which are top gainers up by 9%.

Here is the list of penny stock that gained up to 10% on a closing basis on Tuesday, 26 October 2021:

Sr No.    

Stock    

LTP     

Price Gain%    

1.    

Usha Martin Education And Solutions Ltd. 

4.50 

9.76 

2.    

Madhucon Projects Ltd. 

5.20 

9.47 

3.    

A2z Infra Engineering Ltd. 

4.70 

9.30 

4.    

Sanwaria Consumer Ltd. 

0.70 

7.69 

5.    

Andhra Cements Ltd. 

17.85 

5.00 

6.    

Zee Media Corporation Ltd. 

12.65 

4.98 

7.    

PBA Infrastructure Ltd. 

9.55 

4.95 

8.    

Peninsula Land Ltd. 

11.65 

4.95 

9.    

Excel Realty N Infra Ltd. 

3.20 

4.92 

10.    

Celebrity Fashions Ltd. 

10.70 

4.90 

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

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.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

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.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order
Next Article

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.

Open Demat Account

Enter First Name & Last Name
Enter Mobile Number
Enter correct otp
Please enter referal code
Start investing in just 5 mins
Free Demat account, No conditions apply
  • 0%* Brokerage
  • Flat ₹20 per order