Among sectors, bank, capital goods, healthcare, IT, rose 0.5-1.8 percent, while metal, power and realty indices were down 0.5-1 percent each.
Benchmark indices ended on positive note on October 14 with Nifty around 17,200. At close, the Sensex was up 684.64 points or 1.20% at 57,919.97, and the Nifty was up 171.40 points or 1.01% at 17,185.70.
Infosys | CMP: Rs 1,477 | The share price jumped 4 percent after the company reported profit above estimates for the September quarter. India’s second-largest IT services company on October 13 posted a consolidated net profit of Rs 6,021 for the quarter, up 11.1 percent from a year ago. Revenue from operations stood at Rs 36,538 crore, expanding 23.4 percent. The company also said it will be buying back shares worth Rs 9,300 crore in order to reward its shareholders. The firm has set the maximum buyback price at Rs 1,850, a premium of 30 percent over the last closing price.
Bajaj Auto | CMP: Rs 3,564 | The stock ended in the red even as consolidated net profit for the quarter ended September 2022 stood at Rs 1,530.00 crore, 30 percent higher than Rs 1,173.30 crore reported in the same quarter last year. Revenue from operations stood at Rs 10,202.77 crore, a 20 percent increase from Rs 8,004.97 crore logged in the corresponding quarter of the previous fiscal, the company said in an exchange filing. The numbers were better than the estimates. Brokerages expected the auto major’s revenue to grow around 20 percent QoQ and around 10 percent YoY while operating profit was projected to rise 20-21 percent QoQ and 11-12.5 percent YoY.
Federal Bank | CMP: Rs 130.75 | The share price jumped over 4 percent after the bank reported a 53 percent year-on-year (YoY) rise in net profit at Rs 704 crore for the quarter ended September 2022. Net profit in the year-ago period stood at Rs 460 crore. Net interest income (NII) grew 19 percent YoY to Rs 1,761.83 crore. The bank’s asset quality improved sequentially with gross NPA (non-performing assets) at 2.46 percent as compared to 2.69 percent in the previous quarter. Net NPA and Net NPA as a percentage to Net Advances stood at Rs 1,262.35 crore and 0.78 percent, respectively, the company said.
Shree Cement | CMP: Rs 21,140 | The stock managed to end in the green despite the company reporting a 67 percent decline in standalone net profit of Rs 189 crore in the second quarter of FY23, as against a profit of Rs 578 crore recorded a year ago. On a sequential basis, the profit has dipped by 40 percent from Rs 316 crore earned during the previous quarter. Standalone revenues for the Rajasthan-based cement major rose 18 percent on-year to Rs 3,781 crore as compared to a revenue of Rs 3,206 crore registered in the year-ago quarter. On a sequential basis, the revenue is 10 percent lower from Rs 4,203 crore recorded in the previous quarter.
HDFC Bank | CMP: Rs 1,446 | The scrip added over 3 percent on October 14 ahead of its results tomorrow. The private sector bank’s net profit is seen at Rs 10,681 crore, an average of estimates of seven brokerages shows. Its core interest income is expected to be Rs 20,594 crore, a growth of 15 percent year-on-year.
Angel One | CMP: Rs 1,632 | The scrip rose over 2 percent on October 14. posted a 17.7% sequential growth in profit at Rs 213.6 crore for the quarter ended September FY23, with consolidated total income growing 9 percent QoQ to Rs 745.9 crore during the same period. It reported gross addition of around 1.2 million clients in Q2FY23, crossing 11 million mark in total client base during the quarter. The company announced second interim dividend of Rs 9 per share, which is equivalent to 35% of consolidated profit for the quarter.
Mindtree | CMP: Rs 3,389 | The stock price added 2 percent after the firm reported earnings better than analysts’ estimates for the quarter ended September FY23 with profit rising 7.9 percent sequentially to Rs 508.7 crore and revenue in rupee terms growing 8.9 percent QoQ to Rs 3,400.4 crore. The revenue in dollar terms grew 5.7 percent QoQ to $ 422.1 million for the quarter, while the operating profit increased 8.8 percent to Rs 650.6 crore and margin dipped to 19.13 percent in Q2FY23, from 19.2 percent in Q1FY23.
Den Networks | CMP: Rs 33.45 | The stock price ended in the green amid strong market conditions. The digital cable TV service provider has recorded 27.7 percent year-on-year growth in consolidated profit at Rs 48.12 crore for the quarter ended September FY23 due to lower tax expenses and loss by associates, but revenue declined 11.6 percent to Rs 287.3 crore during the same period.
Anand Rathi Wealth | CMP: Rs 698.55 | The stock added over 2 percent on October 14. The company reported 8.15 percent sequential growth in consolidated profit at Rs 42.95 crore for the quarter ended September FY23, and revenue grew 3.4 percent to Rs 136 crore from a year ago. Operating profit also registered 8.4 percent QoQ growth at Rs 60.4 crore for the quarter.
TARC | CMP: Rs 45.15 | The share jumped over 4 percent after the firm launched its luxury residential project TARC Tripundra in New Delhi. The premium project offers 3 and 4-BHK homes priced Rs 4.5 crore onwards. Amar Sarin, CEO & Managing Director said, “TARC Tripundra has been launched keeping in mind the aspirations of homebuyers to live within the Capital without worrying about the city’s hustle and bustle.”
Sandip Das
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