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Get the latest news and updates for markets in one place from wealthy broking
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Nvidia's design flaw with Blackwell AI chips now fixed, says CEO Huang
📝 Heineken's premium beer volume rises 4.5% in Q2, Kingfisher Ultra chips in
📝 Tata AIG eyes 30% CAGR growth in retail health portfolio in next 3 years
📝 SBI Life Insurance Q2 results: Net profit rises 39% to Rs 529 crore
📝 Outbound M&A by Indian firms to rise on back of strong balance sheets: Citi
📝 Muthoot Finance raises $400 million via USD notes, oversubscribed 3.9x
📝 Hilton cuts 2024 revenue growth forecast on low consumer tourism spending
📝 Coca-Cola bets on rising soda demand to forecast surge in its revenue
📝 Uber Auto and Moto services to drive Rs 36k cr in economic activity in 2024
📝 UAE's sovereign wealth fund to invest $750 mn in debt of GMR Group
📝 Diesel consumption to rise 3%-4% in FY25, says Indian Oil chairman
📝 Dulux maker AkzoNobel misses Q3 forecasts as demand weakens in China
*Economic Times*
📝 Jaguar Land Rover expands global innovation network; launches hub in India
📝 Lower APM gas allocation to raise cost of city gas cos by Rs 2-3/kg: Crisil
📝 Persistent Systems sees healthcare revenue growing to $1 billion in next 3-5 years
📝 India's food inflation likely to ease by end of FY25, highlights RBI MPC minutes
📝 TVS Motor to launch new EVs in current financial year
📝 Road ministry decides to double 'defect liability period' under EPC contracts to 10 years: Gadkari
📝 Garmin aims double-digit growth in India, expansion to e-commerce platforms
📝 Escorts Kubota to sell railway equipment biz to Sona Comstar for Rs 1,600 cr
📝 TVS Industrial & Logistics Parks to set up Rs 200-crore facility in MP
📝 Indian entertainment industry loses Rs 22,400 crore annually due to piracy: EY-IAMAI
📝 FIU slaps Rs 54L fine on Union Bank of India for multiple PMLA violations
*Mint*
📝 JP Morgan Chase India appoints Pranav Chawda as CEO after RBI approval
📝 Godrej Properties Q2 profit jumps 5-fold to ₹335.21 cr on higher revenue
📝 TVS Motors Q2 results: Net profit rises 41% to ₹588 cr, revenue at ₹11,302 cr
📝 Jinesh Gopani, former Axis MF star, plots comeback with Taksh AIF
📝 Jio aims to export high-speed fixed wireless access internet as managed service
📝 Maruti Suzuki Swift Blitz Edition launched in India with enhanced features
📝 Finance ministry to take call on scrapping windfall tax on oil: Tarun Kapoor
📝 Montecarlo explores sale of nine road assets in $360 million deal
📝 Setback for Byju’s as SC restores insolvency case, raps NCLAT for overreach
📝 Zomato hikes platform fee to ₹10 amid festive season rush
📝 Paytm secures NPCI approval to onboard new UPI users
📝 Botree Software Launches MyDMS to Boost Rurban Market Growth
Biggest positive today: some solid earnings are flowing in!
a. Bajaj Finance +5%
- DAM Capital: 'Bearishness overdone, risk-reward attractive'
- Festive season tracking well, confident on growth
b. Max Financial +7%
- Q2 biz premium +25%, APE +31%, VNB margin 23.6%
c. Persistent +10%
- $2B revenue target by FY27, margins growth plan
d. Coforge +10%
- Orderbook +40%, Cigniti acquisition boosting FY25 outlook
e. GMDC +10%
- Revenue +55%, margins up to 24% from 14%
Ultimately, earnings drive markets
Things to watch today : 23rd October 📰
👉Nifty is now down 7% from record high of 26277
👉FIIs sold 3979cr in cash yesterday
👉FIIs have sold 86500cr in october so far
👉DIIs bought 5869cr in cash yesterday
👉US markets closed flat overnight
👉Gold prices scale record highs
👉MCX gold prices hit 78200rs/10 gm
Ambuja Cement to acquire orient Cement @ 395.40 / per share
Читать полностью…
SOME BROKERAGE UPGERADES FOR HYUNDAI : Hyundai Motor India Limited
Macquarie And Nomura Initiates Coverage
▪ Macquarie Initiates With Outperform With A Target Of
2235 Implying An Upside Of 14%
▪ Nomura Initiates With
'Buy' With A Target Of 2472,
Implying An Upside Of 26.1%
Macquarie : Hyundai Motor India | Initiation: PV premiumisation & growth pure play
*News Headlines from Business News Agencies :*
*Business Standard :*
📝 Tata Motors receives order for 1000 diesel bus chassis from UPSRTC
📝 Housing sales in 30 major tier II cities down 13% in Jul-Sep: PropEquity
📝 Institutional investment in real estate up 31% to $4.61 bn in Jan-Sep: Rpt
📝 Indel Money to raise up to Rs 150 cr via NCDs to fund growth plans
📝 US buyers turn to India for apparel as Bangladesh faces growing concerns
📝 Govt to extend air connectivity scheme UDAN scheme for 10 more years: Naidu
📝 Norwegian bank DNB to buy Sweden's Carnegie from Altor for $1.14 bn
📝 Zomato's CEO Deepinder Goyal launches health, wellness startup 'Continue'
📝 Bain-Backed 360 One's Co-CEO Taparia to depart amid wealth management boom
📝 Innovation key to exponential growth of manufacturing sector: Bharat Forge
📝 UAE supermarket chain Lulu to offer 25% stake in IPO, list on Adx
📝 Dairy-tech startup Stellapps raises $26 million in series C funding
*Economic Times :*
📝 Allied Blenders and Distillers Limited partners with Roust Corporation to launch Russian Standard Vodka in India
📝 Gujarat to harvest a record crop of groundnut due to increase in area and yield, says SEA
📝 Inflation on declining path, but still have a distance to cover: RBI Bulletin
📝 Sterling & Wilson hives off data centre business, raises Rs 1,000 crore
📝 Brookfield Properties to supply green power to campuses in Delhi-NCR
📝 UltraTech Cement Q2 Results: Net profit falls 36% YoY to Rs 820 crore
📝 Mukul Agrawal buys 1.58% stake in Stanley Lifestyle
📝 PhonePe FY24 operating revenue up 73% to Rs 5,064 crore, loss down 28%
📝 Alembic Pharma gets USFDA nod for generic hypertension treatment capsules
📝 Reliance Retail expands AZORTE with 12 new stores in India
📝 India's civil aviation sector has huge growth runway: GE Aerospace CEO
📝 Gemba Capital ropes in banking expert Somak Ghosh in its advisory board
*Mint :*
📝 Indian apparel exporters' revenue may grow 9-11% in FY25, says Icra
📝 India Inc wants to stay close to startups with incubators and accelerators
📝 STL eyes mitigation of EU dumping duty; aims to be among top 3 optic fibre cos
📝 AI startup Perplexity in funding talks to more than double valuation to $8 bn
📝 NCLT dismisses ADAVL’s plea to block use of ‘Reliance’ brand by Hinduja Group
📝 Higher revenue forecast and employees signal growth for Indian IT’s top five
📝 Goa developer Vianaar taps second-home market in Sri Lanka
📝 Navi has enough liquidity to handle issues from RBI ban, company tells lenders
📝 Atlantic Union to buy Sandy Spring Bancorp in a deal worth $1.6 billion
📝 Swaraj Engines reports Q2 results: Net profit soars 20.4% to ₹ 45.4 cr
📝 Microsoft unveils new autonomous agents in Copilot to enhance business process
Expected Allotment Probability in the Waaree Energies IPO
RETAIL : 1 out of 7 SMALL HNI : 1 out of 45 BIG HNI : 1 out of 13
Corporate Actions
Dividend
21-Oct-24
JNKINDIA: Final Dividend - Rs. - 0.30
22-Oct-24
HCLTECH: Interim Dividend - Rs. - 12.00
GOPAL: Interim Dividend - Rs. - 1.00
23-Oct-24
CASPIAN: Final Dividend - Rs. - 0.05
24-Oct-24
TIPSMUSIC: Interim Dividend - Rs. - 2.00
25-Oct-24
ALLCARGO: Interim Dividend - Rs. - 1.10
DBCORP: Interim Dividend - Rs. - 5.00
LTIM: Interim Dividend - Rs. - 20.00
LTTS: Interim Dividend - Rs. - 17.00
DALBHARAT: Interim Dividend
28-Oct-24
KSOLVES: Interim Dividend - Rs. - 8.00
ICICIGI: Interim Dividend - Rs. - 5.50
ELECON: Interim Dividend - Rs. - 0.50
BREAKING - HDB Financial IPO approved by HDFC Bank Board
It will be a Rs 12500 Cr IPO - Rs 2500 Cr fresh issue + 10000 Cr OFS
HDB Rate in unlisted market today Rs 1500, Was less than 1000 Rs in Aug 2024, 50% gain in 2M
IPO music will continue for a while now!
Important Update for F&O Traders!
NSE has revised contract sizes for index derivatives, effective Nov 20, 2024. Key changes:
- Nifty 50: 25 to 75
- Nifty Bank: 15 to 30
- Nifty Financial Services: 25 to 65
- Nifty Midcap Select: 50 to 120
- Nifty Next 50: 10 to 25
Market Alert : Nifty needs to stabilise,need to settle as can see more moves both ways
Читать полностью…
*News Headlines from Business News Agencies :*
*Business Standard :*
📝 Veteran oil and gas exec Naresh Nayyar appointed to board of EET Fuels
📝 Infosys boosts headcount by 2,456 in Q2, reversing earlier staff cuts
📝 Secondary long steel makers likely to see 7% rise in FY25 revenues: CRISIL
📝 Indian CDMOs could account for up to 10% of global outsourced work by 2033
📝 Nokia cuts 2,000 jobs in China, 350 in Europe as part of restructuring
📝 Hyundai submits PFR to take up modernisation of TN plant for Rs 1,500cr
📝 RBI bars four non-bank lenders from issuing loans for breaching norms
📝 LIC Housing Finance accepts bids worth Rs 1,300 cr for 5-year bonds: Report
📝 J&K's 5.9 mn tonne lithium reserve to be re-explored after failed auction
📝 NFRA chairman Pandey stresses the need to adopt global audit standards
📝 Borosil urges govt on imposing anti-dumping duty on Chinese solar glass
📝 Mumbai property registrations grow 13% during Navratri: Knight Frank
*Economic Times :*
📝 Cargo volume at 12 major ports rises 5% to 413.747 MMT in September: Ports ministry
📝 Axis Bank issues over 1 million credit cards in Q2 FY25 as trend picks up with festive season
📝 Zomato board to consider fundraising via QIP on October 22
📝 CIEL HR Services acquires talent assessment firm Thomas Assessment
📝 Tata Communications Q2 results: Cons PAT rises 3% YoY to Rs 227 crore but declines 32% QoQ
📝 Trend towards mass casualization to fuel growth of Foot Locker in India, says global chief
📝 ITC Limited launches 9.45 MW solar plant in Karnataka to boost renewable energy goals
📝 Mutual Fund AUM at all-time high of Rs 67.90 lakh crore in September: AMFI
📝 Slice raises $8.5 million from founder Rajan Bajaj
📝 Ampin Energy Transition gets Rs 742 cr loan from Standard Chartered Bank
📝 Maruti Suzuki's Manesar plant becomes fastest to hit 1 crore production milestone globally
*Mint :*
📝 Pushed by finance ministry, ONGC to reduce arbitration, use IIAC services
📝 Indian Overseas Bank Q2 results: Profit rises 24% to ₹777 crore
📝 Infinix Zero Flip launched in India with MediaTek Dimensity 8020 chipset
📝 Nestle India says it will soon launch Cerelac variants with no refined sugar
📝 Central Bank Q2 Results: Net profit surges 51% to ₹913 crore, NII up 13% YoY
📝 Quantum computers may soon outclass traditional ones, says IBM fellow
📝 IRCTC booking: Advance reservation period for railway tickets reduced to 60 days
📝 Havells Q2 results: Net profit rises 7.5% to ₹268 crore, revenue up 16% YoY
📝 Consumers must get incentives to buy energy-efficient cooling appliances: Godrej
📝 Warner Music India eyes position in top 3 by next year
📝 Zomato board to consider raising funds via QIP on October 22
📝 Integrum Energy Infrastructure files draft papers with BSE for SME IPO
📝 China announces fresh round of measures to boost property sector
INFOSYS: Q2 CONS NET PROFIT 65.1B RUPEES VS 63.7B (QOQ); EST 67.55B
INFOSYS: Q2 REVENUE 409.9B RUPEES VS 393B (QOQ); EST 408.78B
INFOSYS: Q2 EBIT 86.5B RUPEES VS 82.88B (QOQ); EST 87.23B || Q2 EBIT MARGIN 21.10% VS 21.08% (QOQ); EST 21.3%
Good morning ☕️
Markets likely to continue upward momentum today
Things to know before trade : 17th October 🗞️
👉Global markets are upbeat
👉US markets hit record highs overnight
👉Dow jones up 337 points , hits record highs
👉Aluminum producer Alcoa rose 6% in extended trading after earnings that topped expectations
👉Nifty stands resilient around 25000, closed at 24971 yesterday
👉Big day for earnings today: Nifty companies Infosys, Wipro, Axis bank and Nestle to report today
👉Non index large caps like Havells and Polycab to report earnings today
👉FIIs continue to sell in cash
👉FIIs sold 3436cr in cash yesterday
👉DIIs bought 2256cr in cash yesterday
👉Strong earnings from Bajaj Auto
👉Reliance issues bonus shares , October 28 is record date
🚨 Waaree Energies Limited IPO sets a new benchmark! 🚨
💥 Record-breaking response with 97.34 lakh applications for a ₹4,321 Cr issue (excluding anchor investors)
Key highlights:
•Overall subscribed 76.34x
•Total bids worth ₹2.41 Lakh Cr
•QIB subscribed 208.63x
•HNI-NII subscribed 62.48x
•Retail subscribed 10.79x
•Employee portion subscribed 5.17x
📈 Waaree Energies overtakes Bajaj Housing, Tata Technologies & LIC IPOs with the highest number of applications in history!
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Irdai engaging with select insurance firms for public listing: Chairman
📝 Godrej Security Solutions eyes 50% revenue growth to Rs 1,500 crore by FY27
📝 Insurance industry can partner with telcos, fintechs to expand reach: LIC
📝 Jewellers' body pushes for standardisation of gold rates across India
📝 Air India aims to double direct sales earnings in 2-3 years: CDTO
📝 Reliance Infrastructure plans to invest Rs 10,000 crore in small arms foray
📝 REPL bags order from TN to prepare master plans for 12 urban local bodies
📝 GM overcomes US sales drop; China JV losses drag Q3 profit to $3 bn
📝 GE Aerospace raises profit forecast on strong demand for aftermkt services
📝 RBI adds 13 more entities in 'alert list' of unauthorised forex trading
📝 Good monsoon raises hopes, but crop prices key to rural India turnaround
📝 Cotton output likely to fall 7.4% as excessive rainfall damage crop
*Economic Times*
📝 Rajasthan govt signs initial agreement with UAE for Rs 3 lakh cr investment in renewable energy
📝 UP CM inaugurates healthcare projects worth Rs 1,147 crore at SGPGI Lucknow
📝 SBI General Insurance half yearly profit soars 7 times to Rs 414 crore, GWP up by 16% YoY
📝 NPST achieves 264% growth in Q2 FY’25 net profit, announces move to mainboard
📝 Aakash to invest Rs 100 cr to rebuild Aakash Digital in two years
📝 Consumers worried about data breaches, says PwC India survey
📝 Germany expects 10 pc rise in Indian tourist arrivals in 2025: GNTB
📝 Realty developer Elan Group raises Rs 1,200 crore from Kotak Real Estate Fund
📝 Gopalan Enterprises to expand its flexible workspace portfolio to 12 mn sqft by 2025
📝 Former Oyo exec Abhishek Gupta joins Lenskart as CFO
📝 India's Solar Energy Corp plans to bid for state projects, chairman says
*Mint*
📝 NLC India eyes ₹4,500 crore IPO for green energy arm by June next year
📝 SEBI chief Madhabi Buch cleared in govt-led probe, to complete tenure till Feb
📝 Go First’s foreign funding push to test India’s insolvency framework
📝 India has maintained fiscal discipline and controlled inflation: FM Sitharaman
📝 Mazagon Dock board approves 1:2 stock split, declares ₹23.19 interim dividend
📝 BSNL won't raise consumer tariffs: CMD Robert Ravi
📝 Ola Electric responds to CCPA, claims to resolve 10,644 customer complaints
📝 Bajaj Housing Finance business model risk is low, but valuation risk is high
📝 Centre to resume sale of subsidised Bharat chana dal, battling food inflation
📝 Indian apparel firm Raymond Lifestyle to hire 9,000 workers for new stores
📝 F&O frenzy and SME IPOs pose risks to retail investors: Sebi's Ashwani Bhatia
📝 Outlook for InvITs in CY25 stable, says Capitalmind; IndiGrid InvIT top pick
Important Update
On Monday, 28th October, stocks of holding companies will be traded without any circuit limits.
Examples include:
Bajaj Holding
Vardhman Holding
JSW Holding
Pilani Holding
And others.
This is applicable only for that day.
Prices will fluctuate without any circuit filters (i.e., 5%, 10%, 15%, and 20%).
Investors holding these types of scripts may choose to either book profits or hold for further appreciation.
Price discovery will begin from the pre-open session, and the stock will be allowed to fluctuate until 3:30 PM.
This is for your information so you can decide in advance what action to take.
🇺🇸 Markets ended lower as Treasury yields rose & investors awaited new earnings reports
US Markets on Monday
#DowJones -0.8%
#Nasdaq +0.27%
S&P500 -0.18%
🇺🇸 10-year Treasury rose 12 basis points to 4.19% (12-week high)
💲 Dollar Index at 104.01
Consumer and homebuilder stocks were among the biggest losers 😢
Reason 👉Fears about higher-for-longer interest rates crept up
Target -3.8%
Builders FirstSource -5.2%
Lennar -4.4%
Markets are pricing in an 87% chance for a cut of 25 basis points (bps) at the Fed’s November meeting
Source - CME’s FedWatch Tool
Other Assets
⛽️ Brent Crude at 74$/barrel
Saudi Aramco CEO Amin Nasser said he remains “fairly bullish” on demand in the world’s second largest economy.
🪙 Gold at 2723$
🥈 Silver at 34$, hit its highest since late-2012 earlier in the session
💸 Bitcoin at 67100$
Big earnings this week 👉Tesla, Coca-Cola & GE Aerospace
RESULTS CALENDER :
TODAY : ULTRACEMCO; CUB; CGPOWER; BALUFORGE; BAJAJHFL; 360ONE; MAHLOG; MAHSCOOTER; GRAVITA; HFCL; ROUTE; NELCO; CYIENTDLM; BEPL; SWARAJENG; TIPSFILMS; VINYLINDIA; SOLARA; SPLPETRO; WENDT; AIIL; UNIONBANK; INDBANK; JSFB; AURIONPRO; AURUM; RAJRATAN; SURANASOL; SURAJLTD; ARTSONEN; SHIVACEM; E2E; MGEL; CROWN; ADTYFRG; CITL; COMFINCAP; FABINO; FUTURSEC; GETALONG; GOLDCOINHF; INDXTRA; JULIEN; NIKKIGL; PMCFIN; REMIEDEL; UNICK; VIVIDHA
Today's Headlines :
*Economic Times*
📝 Vedanta to invest Rs 1 lakh crore in Rajasthan across zinc, oil and gas operations
📝 Smartphone shipments rise 9 per cent in Q3 2024
📝 PG Electroplast board approves Rs 1,500 crore QIP
📝 HDFC Bank Q2 Results: PAT rises 5% YoY to Rs 16,821 crore, beats Street estimates
📝 Kotak Mahindra Bank Q2 Results: PAT rises 5% YoY to Rs 3,344 cr; NII jumps 11%
📝 HDFC Bank to offload Rs 10,000 cr worth stake in Rs 12,500 cr IPO of HDB Financial Services
📝 Agnit Semiconductors raises $3.5 million in seed round
*Business Standard*
📝 GoM recommends lowering GST rate on water bottles, bicycles to 5%: Report
📝 Centre forms panel to reduce gap between farm to fork in perishables
📝 India seeks binding critical minerals pact with US to boost manufacturing
📝 SMPP files draft red herring prospectus with Sebi, eyes Rs 4,000 cr via IPO
📝 Dalmia Bharat Q2 results: PAT drops 60% to Rs 49 cr, revenue at Rs 3,087 cr
📝 India's road infrastructure will surpass that of US: Nitin Gadkari
📝 EL&N London opens 1st Indian cafe in Mumbai, partners with Reliance Brands
📝 Cyclonic circulation over Andaman sea likely to turn into low pressure: IMD
*Financial Express*
📝 Dhanlaxmi Bank posts Q2 net profit of Rs 26 crore
📝 Tech Mahindra beats Street estimates, profit gets boost by other income
📝 Paddy procurement in Punjab and Haryana down 39 per cent
*Mint*
📝 Afcons Infra IPO: Shapoorji Pallonji arm to float ₹5,430 crore IPO on Oct 25
📝 India aims to secure critical minerals partnership with US, eyes trade benefits
📝 Delhi AQI soars to 344 , hits 'very poor’ category ahead of Diwali
📝 Oil logs biggest weekly decline in one month on China demand concerns; Brent drops
📝 Infosys poised to regain its No.2 rank as quarterly revenue edges past Cognizant.
Today's Headlines :
*Economic Times*
📝 Vedanta to invest Rs 1 lakh crore in Rajasthan across zinc, oil and gas operations
📝 Smartphone shipments rise 9 per cent in Q3 2024
📝 PG Electroplast board approves Rs 1,500 crore QIP
📝 HDFC Bank Q2 Results: PAT rises 5% YoY to Rs 16,821 crore, beats Street estimates
📝 Kotak Mahindra Bank Q2 Results: PAT rises 5% YoY to Rs 3,344 cr; NII jumps 11%
📝 HDFC Bank to offload Rs 10,000 cr worth stake in Rs 12,500 cr IPO of HDB Financial Services
📝 Agnit Semiconductors raises $3.5 million in seed round
*Business Standard*
📝 GoM recommends lowering GST rate on water bottles, bicycles to 5%: Report
📝 Centre forms panel to reduce gap between farm to fork in perishables
📝 India seeks binding critical minerals pact with US to boost manufacturing
📝 SMPP files draft red herring prospectus with Sebi, eyes Rs 4,000 cr via IPO
📝 Dalmia Bharat Q2 results: PAT drops 60% to Rs 49 cr, revenue at Rs 3,087 cr
📝 India's road infrastructure will surpass that of US: Nitin Gadkari
📝 EL&N London opens 1st Indian cafe in Mumbai, partners with Reliance Brands
📝 Cyclonic circulation over Andaman sea likely to turn into low pressure: IMD
*Financial Express*
📝 Dhanlaxmi Bank posts Q2 net profit of Rs 26 crore
📝 Tech Mahindra beats Street estimates, profit gets boost by other income
📝 Paddy procurement in Punjab and Haryana down 39 per cent
*Mint*
📝 Afcons Infra IPO: Shapoorji Pallonji arm to float ₹5,430 crore IPO on Oct 25
📝 India aims to secure critical minerals partnership with US, eyes trade benefits
📝 Delhi AQI soars to 344 , hits 'very poor’ category ahead of Diwali
📝 Oil logs biggest weekly decline in one month on China demand concerns; Brent drops
📝 Infosys poised to regain its No.2 rank as quarterly revenue edges past Cognizant.
*HDFC BANK 2Q (IN-LINE): NII +10% | PPOP +9% | PAT +5% | NII, PPOP INLINE; MARGINS DIP 1BP QOQ | PAT SLIGHTLY BEAT ESTIMATES*
• *HDFCB reported 2QFY25 profit at INR168.2b (inline)*.
• NII grew 10% YoY to INR301.1b (inline). *Core NIMs (on total assets) declined 1bp QoQ to 3.46%*.
• Other income stood at INR114.8b (7% YoY growth, inline).
• *Treasury gains declined to INR2.9b vs INR10.4b in 2QFY24*.
• Total revenues thus grew 9% YoY to INR416b (inline).
• Operating expenses grew 9.7% YoY to INR168.9b (inline). C/I ratio stood at 40.6%.
• *PPoP grew 9% YoY to INR247.1b (inline)*.
• Advances book grew 7% YoY / 1% QoQ to INR24.95t; Deposits grew 15% YoY / 5% QoQ to INR25.0t. CD ratio declined to 99.8% while CASA mix stood at 35.3%.
• GNPA/NNPA ratio increased by 3bp/2bp QoQ to 1.36% / 0.41% respectively. PCR decreased 131bp QoQ to 69.9%. Provisions declined 7% YoY to INR27b (5% higher than MOSLe).
• CAR stood at 19.8% with Tier-1 ratio of 17.8% and CET-1 of 17.3% (up 50bp QoQ).
Dow Jones hit record highs as strong economic data eased lingering fears of a potential recession 🕺
🚀 Travelers Companies Inc +9% helped Dow hit new high!
🇺🇸 Markets on Thursday
#DowJones +0.37%
#Nasdaq +0.04%
S&P500 -0.02%
🇺🇸 Economic Data: September’s retail sales figures showed that consumer spending was still robust
👍 Retail sales +0.4% in September vs +0.3% from economists polled by Dow Jones
👍 Jobless claims for the week that ended Oct. 12 were also lower than expected
Taiwan Semiconductor +9%
👍 Reported strong third-quarter results & raised its revenue forecast
🤩 AI darling Nvidia +0.9% as TSMC is one of the suppliers for Nvidia
Big Movers
👍 Blackstone +7% after the alternative asset managers reported better than expected results
👎 CSX -5.7% after earnings miss
👎 Walgreens Boots Alliance -4%, paring some of the 15.8% it gained in the prior session
Other Asset Classes
🇺🇸 10 year yield at 4.09%
💲 Dollar index at 103.80, 11-week high
⛽️ Brent Crude at 74.7$/barrel
🪙 Gold at $2,692/ounce, another record high
💸 Bitcoin at 67200$
*News Headlines from Business News Agencies:*
*Business Standard*
📝 Servotech ties up with Ensmart Power to expand EV charger business in UK
📝 Industrial and warehousing leasing up 17% YoY growth in 9 months: Report
📝 Godrej Properties secures 3 adjoining plots totalling 6.5 acres in Mumbai
📝 FY25 fresher hiring by IT sector to rise by 20-25%: TeamLease Digital
📝 Himadri Q2 results: PAT jumps 33% to Rs 134 cr driven by higher margins
📝 Indian manufacturing should aim for export-led growth: Jamshyd Godrej
📝 D2C brands raise funds to boost sales through quick-commerce platforms
📝 MF license aspirant list swells amid bullish industry growth projections
📝 Trade deficit eases to $20.8 bn in Sept amid geopolitical challenges
📝 Ministers' group discusses merger of GST compensation cess into taxes
📝 Fund managers pare India allocation in favour of China: BofA survey
📝 India extends operation of imported coal-based power plants: Circular
*Economic Times*
📝 Strides Pharma's OneSource raises Rs 801 crore in pre-listing round
📝 Union Cabinet approves Rs 2,642-cr Varanasi-DDU multi-tracking project
📝 HFCL expects 70% revenue in fibre optic, 50% in telecom gear from exports in 3 years
📝 Survey software seller SurveyMonkey opens GCC in Bengaluru; plans to have 25% of its R&D team
📝 Licious narrows FY24 net loss by 44%, revenue down 8% to Rs 685 crore
📝 India added 174 GenAI startups in one year: Nasscom report
📝 BharatPe posts 39% rise in FY24 operating revenue, loss before taxes narrows 50%
📝 India offers to help Myanmar in setting up 5G mobile systems: Official
📝 Govt approves Rs 35,000 cr for PM Annadata Aay Sanrakshan Abhiyan
📝 Ericsson to expand R&D base in India, focuses on AI, 6G development
📝 Zoomcar implements debt restructuring for the next long drive
📝 Expecting 15-20 pc exports growth in alcoholic beverages this yr: Official
*Mint*
📝 Jet Airways resolution plan: Supreme Court reserves decision on airline's future
📝 Saas startup Everstage raises $30 million from Eight Roads Ventures, others
📝 China’s fiscal plan seems to pale in comparison to its monetary boost
📝 India’s goods trade deficit narrows to a five-month low in September
📝 Airbus to cut nearly 2,500 jobs in defence and space sector amid cost challenges
📝 South Indian Bank Q2 results: Net profit rises 18% to ₹325 crore
📝 Samsung Galaxy Ring with AI health features launched in India
📝 HDFC Life continues to struggle with margin pain
📝 Alibaba, Baidu invest in Chinese smart-driving tech company's near $700 mn IPO
📝 TVS Holdings board to consider raising funds via NCDs on October 23
📝 Temasek to Grab a Bite of Behrouz Biryani and Faasos Parent Rebel Foods
📝 India to become third-largest electricity consumer by 2050 on demand for cooling