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Adani Ports 737.45 (-0.22%)
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B P C L 385.90 (1.86%)
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Reliance Q2 profit, revenue exceed estimates as refining, retail businesses rebound

by 5paisa Research Team 23/10/2021

Reliance Industries Ltd, India’s most valued company, reported strong quarterly earnings and revenue numbers that beat analysts’ expectations thanks to all its key businesses posting robust growth.

Consolidated net profit for the second quarter ended September 30 jumped 43% to Rs 13,680 crore from Rs 9,567 crore a year earlier, the energy-to-telecom conglomerate led by billionaire Mukesh Ambani said.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter climbed 30% to Rs 30,283 crore. Consolidated revenue from operations soared 48% to Rs 1.74 lakh crore from 1.16 lakh crore a year earlier.

Both profit and revenue exceeded analysts’ forecasts. Analysts polled by Bloomberg had expected RIL’s revenue at Rs 1.47 lakh crore, EBITDA at Rs 24,836 crore and net profit at Rs 13,063 crore.

The company recorded growth in all its main businesses—energy, telecom and digital services, and retail. The oil-to-chemicals segment, which comprises its mainstay refining and petrochemicals businesses, led with a 58% growth in revenue to Rs 1.2 lakh crore. The segment’s EBITDA surged almost 44% to Rs 12,720 crore.

Reliance Q2: Other highlights

1) Jio Platforms gross revenue rises 15.2% to Rs 23,222 crore.

2) Jio Platforms EBITDA climbs 16.6% to Rs 9,294 crore; net profit jumps 23.5% to Rs 3,728 crore.

3) Jio Platforms a net 2.38 crore customers in Q2, taking the total to 42.95 crore.

4) Reliance Retail gross revenue rises 10.5% to Rs 45,426 crore.

5) Reliance Retail EBITDA increases 45.2% to Rs 2,913 crore; net profit grows 74.2% to Rs 1,695 crore.

6) Reliance Retail opened 813 stores in Q2. It now has 13,635 physical stores operational.

Reliance Q2 management commentary

RIL chairman and managing director Mukesh Ambani said the company posted a strong performance in Q2, which shows the inherent strengths of its businesses and the robust recovery of the Indian and global economies.

“All our businesses reflect growth over pre-COVID levels. Our operational and financial performance reflects sharp recovery in the retail segment and sustained growth in oil-to-chemicals (O2C) and digital services business. Our O2C business benefited from sharp recovery in demand across products and higher transportation fuel margins,” he said.

Ambani, Asia’s richest man, also said that Reliance Retail continues to grow on the back of rapid expansion of both physical stores and digital offerings, resulting in healthy growth in revenue and margin expansion.

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

Chart Busters: Top trading set-ups to watch out for on Monday
by 5paisa Research Team 25/10/2021

The benchmark index, Nifty has continued its downward journey for the fourth consecutive trading session. On Friday, the Nifty has lost 63.20 points or 0.35%. On the weekly chart, the index has formed a sizeable bearish candle. The weekly RSI has given a bearish crossover. The banking benchmark index, Bank Nifty has outperformed the Nifty index on Friday and marked the high of 40587.35 level. However, from the higher level, the Bank nifty has slipped by over 260 points, which resulted in the formation of a shooting star candlestick pattern on the daily chart. 

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

IFB Industries:The stock has formed a spinning top like candlestick pattern as of September 24 and thereafter witnessed consolidation. During the consolidation, the stock has formed a symmetrical triangle pattern on the daily chart. Due to the narrow range, the Bollinger band has been contracted significantly, which is an early sign of the explosive move. On Friday, the stock has given a breakout of symmetrical triangle pattern on the daily chart. Further, on breakout day the volume was expanded by 8 times of 50-days average volume, which indicates important buying interest. The 50-days average volume was 1.09 lakh while today the stock has registered a total volume of 8.79 lakh. In addition, the stock has formed an opening bullish marubozu candlestick pattern on breakout day, which indicates extreme bullishness.

Currently, the stock is trading above its short and long-term moving averages. These averages are in a rising trajectory. The leading indicator, 14-period daily RSI has given positive crossover on the daily chart and it is in rising mode. The ADX is very strong at 34.47. The -DI is below the +DI and ADX is above the -DI and +DI. This shows the technical strength in the stock. Moreover, the surge in +DI is suggesting that the trend will strengthen further.

In a nutshell, the stock has registered a bullish pattern breakout along with volume confirmation. On the upside, the level of Rs 1408 will act as resistance for the stock. While on the downside, the zone of Rs 1185-1180 will act as strong support for the stock.

Sterlite Technologies:Considering the daily chart, the stock has formed a bullish engulfing candlestick pattern as of August 24, 2021, and thereafter marked the sequence of higher tops and higher bottoms. After registering the high of Rs 299.35, the stock has witnessed minor correction along with low volume. The correction is halted near the 50% Fibonacci retracement level of its prior upward move. The stock has formed a strong base near the 100-day EMA level and on Friday, it has given a 13-days consolidation breakout. This breakout was confirmed by robust volume. In addition, the stock has formed a strong bullish candle. The major trend of the stock is bullish as it is trading above its weekly pivot and above its long and short-term moving averages, i.e. 20-day, 50-day, 100-day and 200-day EMAs and these moving averages are exactly in an ascending order, which suggests that the trend is strong.

Talking about the indicators, the 14-period RSI on the daily time frame has marked a fresh 14-period high and also, the RSI has surged above its prior swing high. Interestingly, the weekly RSI has taken support near the 60 mark and started rising. This indicates a super bullish range shift as per the RSI range shift rules. The fast stochastic is also trading above its slow stochastic line, which is a bullish sign.

Technically, all the factors are currently aligned in support of the bulls. Hence, we would advise the traders to be with a bullish bias. The prior swing high of Rs 318 will act as resistance for the stock. While on the downside, the Friday low of Rs 277 will act as strong support for the stock.

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Stocks to watch: Don’t miss these outperforming stocks this next week

Stocks to watch: Don’t miss these outperforming stocks this next week
by 5paisa Research Team 25/10/2021

Some of the outperforming stocks have given a breakout with heavy volumes and should be on your watchlist.

The BSE Sensex slipped in the past four consecutive trading sessions and is down by almost 1.53% from its recent highs. BSE Smallcap index and BSE Midcap index however are down by more than 5% each.

While there is weakness in the market some of the stocks are showing strong momentum and are trading with a price volume breakout.

Following stocks should be on your watchlist:

  1. CG Power: Multibagger CG Power continues to outperform after the company reported a stellar set of numbers this quarter. The Q2FY22 PAT climbs 72% to Rs 188 crore. The stock of CG Power was locked in the upper circuit when the market showed weakness on Friday. CG Power should be on your watchlist.

  1. Rajratan global wire: Rajratan global wire declared an outstanding set of results this quarter. The shares of Rajratan global wire were locked in the upper circuit on Friday. The management announced that it is operating at full capacity and that the expansion strategy is well in place. The production capacity is slated to expand in the Thailand plant and a new facility will be created in Chennai to service the global clients as well. The shares of Rajratan global wire will be in limelight this week.

  1. IRCON International: The shares of IRCON International, a railway construction company, managed to give a breakout from a long consolidation. The stock climbed by 11% on Friday. The stock carries a dividend yield of more than 6% at the current level and reflects a low PE of 11. The stock is catching investors' attention owing to its attractive valuations, high dividend yield and recent price momentum leading to a price-volume breakout.

  1. Rail Vikas Nigam Ltd (RNVL): The shares of RNVL gained traction this week after a breakout with heavy volumes. The stock of RNVL jumped higher by 20%, locking itself in the upper circuit.

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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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