Nifty 17196.7 (-1.18%)
Sensex 57696.46 (-1.31%)
Nifty Bank 36197.15 (-0.85%)
Nifty IT 35848.05 (-0.86%)
Nifty Financial Services 17779.5 (-1.13%)
Adani Ports 737.45 (-0.22%)
Asian Paints 3110.45 (-2.21%)
Axis Bank 673.00 (-0.46%)
B P C L 385.90 (1.86%)
Bajaj Auto 3287.85 (-1.22%)
Bajaj Finance 7069.25 (-1.55%)
Bajaj Finserv 17488.70 (-1.52%)
Bharti Airtel 718.35 (-1.94%)
Britannia Inds. 3553.75 (-0.69%)
Cipla 912.05 (-1.00%)
Coal India 159.75 (0.28%)
Divis Lab. 4757.05 (-0.42%)
Dr Reddys Labs 4596.50 (-1.42%)
Eicher Motors 2455.55 (0.16%)
Grasim Inds 1703.90 (-1.16%)
H D F C 2771.65 (-1.29%)
HCL Technologies 1171.40 (-1.12%)
HDFC Bank 1513.55 (-0.80%)
HDFC Life Insur. 690.95 (-2.03%)
Hero Motocorp 2462.45 (-0.41%)
Hind. Unilever 2343.65 (-1.66%)
Hindalco Inds. 424.65 (-1.72%)
I O C L 122.20 (1.28%)
ICICI Bank 716.30 (-0.84%)
IndusInd Bank 951.15 (0.59%)
Infosys 1735.55 (-0.73%)
ITC 221.65 (-1.69%)
JSW Steel 644.55 (-0.34%)
Kotak Mah. Bank 1914.20 (-2.55%)
Larsen & Toubro 1801.25 (0.67%)
M & M 836.95 (-1.48%)
Maruti Suzuki 7208.70 (-1.59%)
Nestle India 19321.35 (-0.93%)
NTPC 127.00 (-1.32%)
O N G C 145.90 (1.32%)
Power Grid Corpn 206.10 (-3.92%)
Reliance Industr 2408.25 (-3.00%)
SBI Life Insuran 1165.95 (-1.86%)
Shree Cement 25914.05 (-1.43%)
St Bk of India 473.15 (-0.81%)
Sun Pharma.Inds. 751.80 (-1.89%)
Tata Consumer 774.30 (0.14%)
Tata Motors 480.10 (0.21%)
Tata Steel 1118.00 (0.50%)
TCS 3640.45 (-0.07%)
Tech Mahindra 1593.30 (-2.23%)
Titan Company 2369.25 (-0.72%)
UltraTech Cem. 7332.45 (0.13%)
UPL 712.75 (2.08%)
Wipro 640.75 (-0.94%)

Cues from the F&O market for today’s trade

Cues from the F&O market for today’s trade
by 5paisa Research Team 25/10/2021

The Nifty50 last week ended on a very weak note. It was down by almost 400 points and lost 2.16% and was trading well below its recent high of 18600 level. Fresh put writing at 17500, as well as 18000, pushed the market down.

Put writing was seen at strike price 17,500 (25,253 contracts added on October 22), followed by 18,000 (21947 lakh contracts added on October 22), while there was put unwinding at strike price 18400 (4994 contracts shed), followed by 18,600 (2864 lakh contracts shed).

Total Put open interest of 77307 lakh contracts stood at strike price 17500, which will act as a crucial base for the market in the October series, followed by strike price 18000, which saw an accumulation of 72252 lakh contracts, while strike price 17,000 had 71,491 lakh contracts in open interest.

On the options front, maximum Put OI shifted to strike price 17500 while maximum Call OI remains intact at strike price 19,000. Call writing was seen at strike prices of 18300 and 18,200. Total open interest for the strike price of 18,300 and 18,200 stood at 128297 and 109825 respectively.

The maximum call open interest of 130140 contracts stood at strike price 19,000, which will act as key resistance for the index in the October series, followed by strike price 18,200 which has accumulated 128297 contracts.

The Nifty 50 (PCR) closed above 0.63. 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 22 2021  

Oct 21 2021  

Oct 20 2021  

Client  

-17045  

5.04%  

-355420  

-338375  

-289217  

Pro  

10184  

54.78%  

28774  

18590  

-2747  

DII  

-8183  

-10.61%  

68935  

77118  

80723  

FII  

15044  

6.20%  

257711  

242667  

211240  

*Previous Day  

   

   

   

   

   

 

   

Index Call Options  

Client Type  

Change of OI*  

% Change of OI*  

Oct 22 2021  

Oct 21 2021  

Oct 20 2021  

Client  

82659  

-555.69%  

67784  

-14875  

107905  

Pro  

-54808  

60.37%  

-145593  

-90785  

-196871  

DII  

0  

0.00%  

401  

401  

401  

FII  

80140  

24.15%  

411980  

331840  

406647  

*Previous Day  

 

 

 

 

 

  

   

Net Change in Open Interest  

Client Type  

Change of OI*  

% Change of OI*  

Oct 22 2021  

Oct 21 2021  

Oct 20 2021  

Client  

99704  

30.82%  

423204  

323500  

397122  

Pro  

-64992  

59.42%  

-174367  

-109375  

-194124  

DII  

8183  

-10.67%  

-68534  

-76717  

-80322  

FII  

-42896  

31.22%  

-180303  

-137407  

-122675  

*Previous Day  

   

   

   

   

   

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These penny stocks are locked in the Upper Circuit on Monday, October 25

These penny stocks are locked in the Upper Circuit on Monday, October 25
by 5paisa Research Team 25/10/2021

On Monday, the benchmark indices erased all the opening gains and trading near the day's low with Sensex trading 249.12 points lower at 60,592.97 level and Nifty 100.35 points down at 18,014.95 level. 

ICICI Bank, Axis Bank, M&M, SBI and NTPC are the top-performing stocks in the Sensex group whereas Asian Paints, HDFC Bank, HCL Technologies and Bajaj Auto were among the top weak performing stocks within the index. The stocks of Axis Bank and ICICI Bank have made fresh 52-week highs in Monday’s trading session.

In the broader markets, the BSE Midcap and BSE Smallcap indices are seen underperforming tumbling 2.34% and 2.52%, respectively.

On the sectoral front, apart from BSE Bankex, all the sectoral indices are seen trading in red. BSE Bankex has managed to trade 1.33% higher on Monday with the market filled with bearish sentiments. The top-performing stock lifting the index is ICICI Bank, zooming up to 10% followed by Axis Bank, Federal Bank and SBI. NIFTY Bank opened at record high levels on Monday at 41,024.55 level.

The BSE Realty Index is the weakest performing sector in Monday’s trading session, declining 4.03%. Oberoi Realty, Sunteck Realty, Sobha and Mahindra Lifespace Developers were among the top stocks seen dragging the BSE realty index.

Amid the pressure faced by the markets, several penny stocks were seen outperforming the markets gaining up to 4.88%.

Following penny stocks locked in the upper circuit on Monday, October 25.

Sr No   

Stock   

LTP (Rs)  

Price Gain (%)   

1  

Shriram EPC   

6.45  

4.88  

2  

Viji Finance  

2.60  

4.00  

3  

Indowind Energy   

10.4  

4.52  

4  

Bharatiya Global Infomedia  

2.80  

3.7  

5  

Excel Realty N Infra   

3  

3.39  

6  

DCM Financial  

3.75  

4.17  

7  

Zenith Birla   

1.1  

4.76  

8  

Bohra Industries   

5.15  

4.04  

9  

Regency Ceramics   

1.95  

2.63  

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Coforge misses Q2 earnings estimates, stock tanks over 10%

by 5paisa Research Team 25/10/2021

Mid-tier IT services firm Coforge (formerly NIIT Technologies) missed street estimates for quarterly earnings, disappointing investors who dumped its stock that tanked over 10% in the morning.

Coforge, which is majority owned by Baring Private Equity Asia, reported 21.6% year-on-year rise in consolidated net profit for the quarter ended September 30 to Rs 146.7 crore. On a sequential basis, net profit rose 18.7%.

Analysts had expected net profit upwards of Rs 160 crore.

Shares of Coforge fell as much as 11% in Monday morning trade to Rs 4,823.60 apiece, before paring the losses a tad.

EBITDA rose 34.6% year-on-year and 23.9% sequentially to Rs 292.3 crore during the quarter.

The company’s consolidated revenue for the quarter was up 36% over the year-ago period to Rs 1,569.4 crore. On a sequential basis, revenue rose 7.4%.

If one excludes the impact of acquisitions and divestitures, on an organic basis, revenue for the quarter was Rs 1,405.4 crore, up 21.8% over the previous year and 3.8% on a sequential basis. The firm had acquired a majority stake in SLK Global during the first quarter.

Coforge Q2: Other highlights

1) EBITDA margin rose to 17.4%, up from 14.4% in Q1 but lower than 17.8% in Q2 FY21.

2) Attrition has climbed to 15.3% during the quarter from 12.6% in the preceding quarter and 10.5% a year ago.

3) New client addition remained flat at 11 compared to preceding quarter and declined from 12 in the year-ago period.

4) Repeat business was 92% of the total as against 96% in the previous quarter and 89% in the same quarter last year.

Coforge management commentary

Sudhir Singh, Chief Executive Officer at Coforge, said the company’s investments in product engineering, cloud, data, automation and integration capabilities continue to power its path to being a $1 billion company next year.

“This is a landmark year for the firm as we anticipate that we shall grow revenues by at least 35% and our adjusted EBITDA by at least 40% over the previous year,” he said.

“Our ability to significantly improve margins in a supply constrained and escalating costs context while simultaneously driving exceptional growth is a testament to the execution capabilities of Team Coforge,” he added.

In view of sustained deal wins and incremental business from its customers, the company is now aiming for 22% growth (excluding SLK Global’s contribution) in constant currency terms during FY22. This is higher than the forecast of at least 19% growth indicated earlier.

This translates to at least 35% of consolidated (including SLK Global) growth in constant currency terms for the firm in FY22. The firm continues to target an adjusted EBITDA margin of 19% for the year.

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Buzzing Stock: ICICI Bank surges 12% on sequential asset quality improvement

Buzzing Stock: ICICI Bank surges 12% on sequential asset quality improvement
by 5paisa Research Team 25/10/2021

The NNPA ratio of the bank stood at 0.99%, the lowest since December 2014.

The stock of ICICI Bank hit lifetime highs on Monday of Rs 857.45 after the private lender’s September quarter numbers beat the Street estimates on nearly all metrics.

In Q2FY22, the private lender saw Net interest income (NII) increase by 25% YoY to Rs 11,690 crore, while the Net interest margin (NIM) was 4.00% in Q2-2022 from 3.89% Q2FY21. The core operating profit (profit before provisions and tax, excluding treasury income) increased by 23% YoY to Rs 9,518 crore in Q2FY22 from Rs 7,719 crore in the same quarter for the previous fiscal year.

Provisions (excluding provision for tax) declined by 9% YoY to Rs 2,714 crore in Q2FY22 from Rs 2,995 crore in Q2-2021. As a result of better operating performance and lower provisions for the quarter, profit after tax grew by 30% YoY to Rs 5,511 crore in Q2FY22 from Rs 4,251 crore Q2FY21.

In terms of asset quality, the bank’s net non-performing assets declined by 12% sequentially to Rs 8,161 crore and the net NPA ratio declined to 0.99% on September 30, 2021, from 1.16% on June 30, 2021. The net NPA ratio is the lowest recorded since December 2014. The Bank’s total capital adequacy stood healthy at 19.52% and Tier-1 capital adequacy was 18.53% compared to the minimum regulatory requirements of 11.08% and 9.08% respectively.

ICICI Bank has seen growth in digital and payment platforms during the quarter. There were about 1,500,000 activations of iMobile Pay from non-ICICI Bank account holders in Q2-2022, taking the total such activations to 4,000,000 within nine months of launch. The transactions by non-ICICI Bank account holders in terms of value and volume respectively were three times and 13 times higher in September 2021 compared to June 2021. Moreover, the value of mobile banking transactions increased by 62% YoY to Rs 406,501 crore in Q2FY22.

At noon on Monday, the stock of ICICI Bank Limited was trading at Rs 856.15, up by 12.78% or 97.05 per share as against a 0.68% gain in the benchmark index.

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Navin Fluorine International Q2FY22 performance is a bag of mixed feelings | Quarter 2 results

by 5paisa Research Team 25/10/2021

The quarterly performance of Navin Fluorine stood out in major segments except the CRAMs. For Q2FY22, the company reported a ~5% increase in standalone revenue on YoY basis, EBITDA margin grew by 90bps on QoQ basis, PAT margin marginally grew from 17.6% in Q1FY22 to 18.6% in Q2FY22.

The high value business grew by 1.5% YoY basis. Specialty chemical segment of the high value business led the performance on YoY basis, declaring a growth of 20% however, on QoQ basis, it had a negative growth of 8.3%. The specialty chemical segment charged up due to the rapid increase in exports that were up by 59% YoY basis. Due to inflation seen in raw material prices, the company reported a hike in prices which had little to no impact on margins and during this period, the company launched two new products. 
Despite a decent business performance in global markets, the domestic market business performance was fairly dull. It reported a marginal de-growth of 1.4% YoY basis. 

The CRAMs segment of the high value business declined by ~17% on YoY basis. The segment only bagged orders worth 40mn for the quarter, which is dramatically lower than the previous quarter which stood at 780mn. The growth was contributed by repeated orders from the customers. NFIL is driving hard to bring in new customers from the European and American markets. The product pipeline for the segment remains strong and growing. 

The Legacy business division of NFIL performed well on the basis of sale of inorganic fluorides but underperformed on the exports front of ref gases business. The overall revenue share of Legacy business (Ref. gases and inorganic fluorides) grew marginally from 36.5% in Q1FY22 to 37% Q2FY22, the domestic share revenue for the same grew by 7.4% QoQ basis and 29.1% YoY basis, and the exports revenue share decline by 4.3% QoQ basis and 21.1% YoY basis.
 

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Hindustan Zinc- 8% increase in Net revenue with a positive future outlook

by 5paisa Research Team 25/10/2021

Hindustan Zinc Limited is the only company in India that specializes an integrated production of lead and zinc. The company produces Zinc, lead, silver and cadmium. It is the world’s second largest producer of zinc.

In the second quarter of FY22 the mined metal production went up by 12% QoQ and 4% YoY. The production of refined zinc declined by 14% QoQ and 10% YoY while the production of lead also declined by 18% YoY. The silver production was in line with the lead production and was down 5% YoY. The FY22 Q4 target for silver production stands at 720 tonnes.

The cost of production of all the products increased drastically because of a staggering increase in the price of coal, met coke and diesel. Also due to the shutdown of maintenance the volume being produced by the company was dwindling. In retaliation to this, management has increased the ore reserves from 115MT to 150MT and even the cost guidance saw an upwards push in FY22. The cumulative capital expenditure for FY22 has been set at $250-300 million.

The Net revenue increased by 8% YoY to Rs.61.2 billion mainly due to the increase in net realizations which were sought after because of the decreased volume produced. Even though the EBITDA increased YoY by 13%, the quarterly growth was at a decline by 6% which can be attributed to very high input and operational cost and less volumes produced. The Profit after tax stood at Rs.20.2 billion which is 4% higher than last year but 4.7% lower than last quarter. The PAT margin declined by 132.9bps YoY from the second quarter of FY21. The Return on Equity has been estimated to increase from 22% in FY21 to 31.7% in FY22. A 33.4% increase in the EPS has been reported as possible by the analysts for FY22 as compared to the 17.3% increase that took place in FY21. The P/E value which stood at 16.9 in FY21 is estimated to decline to 12.6 in FY22 which may show that the company is undervalued.

Given the current scarcity of metals and coal, and the huge hike in raw material prices, the company is slowly adjusting to the new normal and building a new supply and operating chain around it. Given its strong valuations and a lower than CMP intrinsic value, buying the share at the correct time will mostly yield good profits to the investor.

 

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