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Marico Q2 profit rises but margins shrink on higher input costs

by 5paisa Research Team 28/10/2021

Fast-moving consumer goods maker Marico Ltd on Thursday reported higher consolidated net profit for the second quarter from a year earlier, but its earnings margin narrowed due to a sharp increase in input costs.

The maker of Parachute coconut hair oil and Saffola cooking oil posted a net profit of Rs 316 crore for the July-September period, compared with Rs 273 crore a year earlier.

However, second-quarter profit fell from the preceding three months; the company had posted a profit of Rs 365 crore during the April-June period, despite the country grappling with a severe second wave of Covid-19.

The company’s revenue from operations increased 22% to Rs 2,419 crore for the second quarter from Rs 1,989 crore a year earlier. But this was lower than the first quarter’s figure of Rs 2,525 crore.

Total expenses rose to Rs 2,039 crore from Rs 1,641 crore, led by a 35% increase in material costs to Rs 1,345 crore from Rs 1,010 crore a year earlier.

Marico’s shares fell 2.46% on Thursday to close at Rs 561 apiece in a Mumbai market that fell 1.9%. The shares have fallen about 7.4% since touching a one-year high on October 18.

Marico Q2: Other highlights

1) EBITDA increased 9% to Rs 423 crore from 389 crore a year earlier.

2) The EBITDA margin narrowed to 17.5% from 19.6% in the year-ago period.

3) International business recorded turnover of Rs 549 crore, up 13% on constant currency basis.

4) India business delivered revenue of Rs 1,870 crore, up 24% on a YoY basis. Volume growth was 8%.

5) Gross margin improved sequentially by 140 basis points, but was down 560 bps YoY as edible oil and crude oil prices remained high.

Marico commentary and outlook

The company said that, with more than 90% of its portfolio comprising daily-use items, it witnessed healthy demand trends across these categories while discretionary and out-of-home consumption also picked up to some extent.

Rural growth exceeded urban during the quarter but has slowed down sequentially. In the International business, it witnessed a steady quarter in all markets, except Vietnam, which was battling a severe Covid-19 surge.

Marico said the operating margin in the India business fell to 17.8% in Q2 from 20.6% a year earlier owing to sharp input cost pressure, which was only partly alleviated by pricing interventions in key portfolios and cost rationalization measures.

The premium personal care portfolio, comprising premium hair nourishment and male grooming products, had its best quarter since the onset of the pandemic. Livon Serums clocked double-digit growth over pre-Covid run rates. The male grooming portfolio grew in double digits, but still short of pre-Covid levels, Marico said.

The company said that since pace of rural growth has moderated despite normal monsoons and continued government stimulus, some degree of caution in the near-term growth outlook is warranted.

“In the current scenario, we expect to deliver double-digit revenue growth in the domestic business on the back of mid-single digit volume growth in H2,” it said. “However, we believe high-single digit volume growth is possible in Q4, if consumption trends do not worsen.”

Marico expects gross margin to improve sequentially in Q3 and Q4. However, it expects an improvement in operating margins to play out only in Q4, given that ad spends will rise from Q3 itself and a large part of the benefits of a second round of cost rationalization measures will start accruing in Q4.

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Top 4 stocks trading near short-term support levels

Top 4 stocks trading near short-term support levels
by 5paisa Research Team 28/10/2021

One of the most basic and crucial part of technical analysis is support and resistance. Here are the top 4 stocks that are trading near their short-term support levels.

When it comes to analyzing a stock based on technical analysis, one of the most fundamental and crucial things is understanding the support and resistance levels. Now, why is it important to look at support and resistance levels? Studying support and resistance levels ideally help you understand the probable level where the price is likely to move in the opposite direction.

So, does it mean that each time when a stock reaches such levels, it would turn back? No, there would be times when the stock might have gathered the strength to break these support and resistance levels. Breaching of such levels ideally mean that the trend is likely to continue in the direction it has breached.

Hence, it is quite important to understand support and resistance levels as it would help you make decisions on short-term trades or would alert you for swing trades. Now the most likely question here would be, how to identify these support and resistance levels? Although technical analysis seems objective in nature, it has got a lot of subjective as well.

Analysing support and resistance level is quite subjective. However, the most basic is to find a level where the stock failed to breach the level maximum number of times. Moving averages are also one of the ways to understand support levels. Many also use Fibonacci retracement and extension for deciding support and resistance levels.

Having said that, here is the list of the top four stocks that are presently trading near their support levels. You should monitor the price action of stock at these levels. This will help you take better entry and exit decisions.


Last Traded Price (Rs) 

Time Frame 

50 Period EMA (Rs) 

Support Level (Rs) 

Hindustan Unilever Ltd. 





Bajaj Auto Ltd. 





Power Grid Corporation of India Ltd. 





HDFC Bank Ltd. 






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Penny Stock Update: These stocks gained up to 11.11% on Thursday

Penny Stock Update: These stocks gained up to 11.11% on Thursday
by 5paisa Research Team 28/10/2021

On Thursday equity market closed down in red. BSE CAPITAL GOODS is the top gainer while BSE Realty index is the top loser in today’s trade.

On the monthly expiry day, frontline indices saw a huge fall. The market never recovered from its initial losses and closed at its lowest point of trade. In today’s trade Indian equity market was volatile, some sectoral indices closed up in green whereas some indices closed down in red.

Nifty 50 and BSE Sensex are down by 353.70 points i.e., 1.94% and 1,158.63 points i.e., 1.89% in today’s trade. Stocks pulling the BSE Sensex index up are Larsen & Toubro, Asian Paints, IndusInd Bank, UltraTechCement and Bajaj Finance. Whereas, stocks that dragged the BSE Sensex down are ICICI Bank, HDFC Bank, Kotak Mahindra, Reliance Industries and ITC. Moreover, stocks pulling Nifty 50 up are the same as BSE Sensex stocks and Shree Cements. While, Stocks pulling Nifty 50 down are ICICI Bank, HDFC Bank, Adani Ports, ITC and Reliance.

In today’s trade, only S&P BSE CAPITAL GOODS Index remained the sole gainer which closed up positive. BSE CAPITAL GOODS index consisting of stocks such as ABB India Ltd, V Guard Industries Ltd, Finolex Cables Ltd and SKF India Ltd are top gainers up by 6.63%.

Today most of the indices closed in red mark among which top losers are S&P BSE Realty, S&P BSE BANKEX, S&P BSE Power and S&P BSE Utilities Index. BSE Realty index that consists of stocks such as Brigade Enterprises Ltd, Indiabulls Real Estate Ltd, Godrej Properties Ltd and Oberoi Realty Ltd are top losers, shedding up to 4.95%.

Here is the list of penny stock that gained up to 12% on a closing basis on Thursday, 28th October 2021:

Sr No.      



Price Gain%      


JIK Industries Ltd  




Premier Ltd  




Ankit Metal & Power Ltd  




Jyoti Structures Ltd  




Rohit Ferro-Tech Ltd  




Sintex Industries Ltd  




Cinevista Ltd  




VIP Clothing Ltd  




Surana Telecom and Power Ltd  




Andhra Cements Ltd  



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Bajaj Finserv churns out 14% rise in Q2 profit, revenue up 20%

by 5paisa Research Team 28/10/2021

Bajaj Finserv Ltd, the holding arm of Sanjiv Bajaj-led various financial services businesses including insurance and non-banking finance, reported a double-digit rise in earnings as well as revenue for the second quarter ended September 30.

Consolidated net profit rose 13.7% to Rs 1,122 crore from Rs 986 crore in the year-ago period. On a sequential basis, net profit rose 34%.

Consolidated profit excluding mark to market gain was Rs 1,017 crore, up 26% over the same period last year.

The profit growth was largely powered by contribution from the lending unit Bajaj Finance, which saw profit rise over 50% year-on-year. Profit contribution from the insurance businesses was a tad lower compared to last years.

Earlier this month, Bajaj Finance had said its quarterly 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.

Bajaj Finserv’s total revenue rose 20% to Rs 18,008.4 crore from Rs 15,051.6 crore in the second quarter of last financial year.

The company’s share price has more than tripled in the last one year. The shares declined 0.2% to close at Rs 17,977 apiece after results were announced on Thursday. The broader Mumbai market slumped 1.9%.

Bajaj Finserv Q2: Other Highlights

1) Bajaj Finance’s Q2 FY22 AUM was at Rs 1,669,36.6 crore, up 22% YoY.

2) Bajaj Finance sanctioned 6.33 million new loans in Q2 as against 3.62 million a year earlier.

3) Bajaj Finance’s Gross NPA and Net NPA for the quarter stood at 2.45% and 1.1%, respectively, as against 2.96% and 1.46% as of June 2021.

4) Bajaj Allianz General Insurance’s gross direct premium income grew 21% in Q2 vs private-sector peers that grew by 13.7%

5) Bajaj Allianz General Insurance’ growth was driven by four wheelers, fire, marine, government, health and travel segments.

6) Bajaj Allianz General Insurance’ AUM rose 17% to Rs 24,070 crore; net profit rose 28% to Rs 425 crore.

7) Bajaj Allianz Life Insurance AUM grew by 27% YoY to Rs 81,400 crore.

8)  Bajaj Allianz Life Insurance’s growth in unit-linked AUM stands at 36% to Rs 33,300 crore.

9) Bajaj Allianz Life Insurance’s net profit growth was impacted by Covid-19-related claims, which rose over four times to Rs 58 crore after tax during the quarter.

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IndiGo reports wider Q2 loss but flies past estimates; revenue doubles

by 5paisa Research Team 28/10/2021

Budget airline IndiGo has reported higher losses for the second quarter as fuel cost rocketed, but posted earnings and revenue numbers ahead of street estimates.

InterGlobe Aviation, the company that runs IndiGo, posted a consolidated net loss of Rs 1,435.7 crore for the three months ended September 30, up 20% over last year. However, loss more than halved from the first quarter when it had shot up to Rs 3,174.2 crore.

Revenue rose 104.6% to Rs 5,608.5 crore from a year earlier and up 86.5% from the first quarter.

Analysts were expecting the net loss to be in the region of Rs 1,700-1,800 crore during the quarter, largely due to the sharp rise in fuel costs. Revenues were estimated to rise to Rs 5,000-5,200 crore.

IndiGo’s share price declined 0.64% to close at Rs 1,996.8 apiece in a weak Mumbai market on Thursday.

IndiGo Q2: Other highlights

1) Passenger ticket revenues jumped 114% to Rs 4,716.3 crore; ancillary revenue rose 61.45 to Rs 817.7 crore.

2) Fuel cost tripled to Rs 1,989.4 crore from Rs 646.4 crore in Q2 last year. On a sequential basis, fuel cost rose 63.6%.

3) IndiGo recorded EBITDAR of Rs 340.8 crore versus Rs 408.5 crore a year earlier.

4) EBITDAR margin narrowed to 6.1% from 14.9% for the same period last year.

5) Revenue per available seat rose 11.3% to Rs 36 lakh year on year and 32.1% over Q1.

6) Available seat capacity in Q3 is expected to increase around 40% as compared to Q2 and around 45% YoY.

Management Speak

IndiGo CEO Ronojoy Dutta said the pace of revenue recovery is encouraging. “We continue to work towards return to profitability in order to strengthen our balance sheet,” he said.

“With a modern fleet, dedicated employees and a stronger economic environment we are well positioned to leverage all the growth opportunities around us,” Dutta added.

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Chart Busters: Top trading set-ups to watch out for Friday

Chart Busters: Top trading set-ups to watch out for Friday
by 5paisa Research Team 29/10/2021

The Nifty witnessed a bloodbath on Thursday as Nifty logged a loss of nearly 2% and ended the session below its important psychological mark of 18,000. The price action for the day formed a sizeable bear candle carrying lower high-lower low and closed below the low of October 25th. With Thursday’s sharp fall, Nifty has slipped below the 13-day EMA, 21-day EMA and closed below the 61.8% retracement of the recent up-move from the low of October 01 to an all-time high. The banking benchmark index has tumbled by over 3%. The overall advance-decline was largely tilted in the favour of the decliners. The India VIX has surged by over 6.45%.

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

Asahi India Glass: The stock has formed a Doji candlestick pattern as on the weekend of March 27, 2020, and thereafter marked the sequence of higher tops and higher bottoms. On Thursday, the stock has given a breakout of a downward sloping trendline resistance on the daily chart. Further, on breakout day the volume was expanded by nearly 18 times of 50-days average volume, which indicates important buying interest. The 50-days average volume was 2.18 lakh while today the stock has registered a total volume of 39.29 lakh. In addition, the stock has formed a sizable bullish candle on breakout day, which adds strength to the breakout.

As the stock is near to its 52-week high, it is trading above all the short and long-term moving averages. The stock is meeting the criteria of Mark Minervini’s trend template. The current stock price is above both 150-day (30-weeks) and 200-day (40-weeks) moving average price lines. Moreover, 30 and 40-weekly averages are trending up and at the same time, they are in the desired sequence. Also, the 10-weekly moving average is above both 30 and 40-weekly moving averages.

All the major indicators suggest a bullish momentum in the stock. The weekly RSI is in bullish territory and it is in rising mode. 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 targets are open towards Rs 448, followed by Rs 480 level. While on the downside, the zone of Rs 398-Rs 387 will act as strong support for the stock.

ABB India: On Thursday, the stock has given a 41-days consolidation breakout on the daily chart. This breakout was supported by robust volume. Currently, the stock is trading above its short and long-term moving averages. These averages are in the desired sequence, which suggests the trend is strong. Interestingly, the daily RSI has broken out of inverse head and shoulders, which is a very bullish sign. The weekly RSI is in the super bullish zone and it is in rising mode. 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. Moreover, the surge in +DI is suggesting that the trend will strengthen further.

Considering all the above factors, we believe the will continue its northward journey. On the upside, the level of Rs 2066 will act as minor resistance for the stock. While on the downside, the 20-day EMA will act as strong support for the stock.

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