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Good Morning!
Gift Nifty Check
The Indian equity indices are likely to have a muted start on Wednesday, with Gift Nifty trading little changed around 25,322 around two hours ahead of the opening bell.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Commodity Check
Crude oil prices traded slightly higher on Wednesday, after briefly falling below $90 per barrel levels in the previous sessions as technical factors and expectations of further de-escalation in the Iran war drove selloff.
Brent Crude was up 0.87% at $92.28 per barrel, while West Texas Intermediate traded 0.66% higher at $86.62 per barrel as of 6:50 a.m. IST.
Asian Markets Check
Asian markets were trading mixed on Wednesday after Wall Street ended lower overnight, as stronger-than-expected US inflation data raised expectations of another Federal Reserve rate hike in December.
Japan's Nikkei 225 was down 0.22%, while the broader Topix gained 0.52%. South Korea's Kospi slipped 0.48%, while Australia's ASX 200 edged up 0.04%.
Wall Street Recap
US stock indices declined on Tuesday, Nov 10, after hotter-than-expected Oct inflation data heightened fears that the Federal Reserve could raise interest rates yet again in December. Additionally, fresh commentary from Fed Governor Christopher Waller signaled that a rate hike was likely and also did not rule out a larger increase.
The indices settled in the red with S&P 500 down 0.38% at 7,520.93, Dow Jones Industrial Average down 0.30% at 52,231.89, and Nasdaq Composite down 0.74% at 25,065.87.
Indian Stock Market Recap
The Nifty closed in green, rising 0.23%, with SBI and Trent leading the gains, advancing 2.5% and 2%, respectively. Broader market indices remained mixed, with the Nifty Midcap 150 closing higher for the second consecutive session, up 0.3%. Sensex closed 0.31% or 107 points higher at 81,106.65 points.
Earnings In Focus
Cupid Ltd
DCX Systems Ltd
EIH Associated Hotels Ltd
Garden Reach Shipbuilders & Engineers Ltd
Hindustan Copper Ltd
Mishra Dhatu Nigam Ltd
National Fertilizers Ltd
Power Mech Projects Ltd
Tata Power Company Ltd
Triveni Turbine Ltd
Earnings
Kalyan Jewellers Q2FY27 (Consolidated, YoY)
Net profit up 63.9% at Rs 427 crore vs Rs 261 crore
Revenue up 31.4% at Rs 10,323 crore vs Rs 7,856 crore
EBITDA up 29.7% at Rs 644 crore vs Rs 497 crore
EBITDA margin at 6.2% vs 6.3%
Saw one-time gain of Rs 73.5 crore in Q2
Ongoing festive quarter has started off very well, especially during Navratri and Dhanteras
Upbeat about the wedding season and look forward to ending the quarter on a strong note
Avanti Feeds Q2FY27 (Consolidated, YoY)
Net profit down 55% at Rs 69 crore vs Rs 153 crore
Revenue up 8.9% at Rs 1,753 crore vs Rs 1,609 crore
EBITDA down 59.7% at Rs 78 crore vs Rs 194 crore
EBITDA margin at 4.45% vs 12.04%
Saw one-time loss of Rs 17 crore in Q2
Matrimony.com Q2FY27 (Consolidated, YoY)
Net profit at Rs 20.7 crore vs Rs 7.8 crore
Revenue up 17.6% at Rs 135 crore vs Rs 115 crore
EBITDA at Rs 30.1 crore vs Rs 12.1 crore
EBITDA margin at 22.4% vs 10.6%
To acquire additional 50% stake in Astro-Vision Futuretech for Rs 8 crore
HIRECT Q2FY27 (Consolidated, YoY)
Net profit down 53.7% at Rs 6.8 crore vs Rs 14.7 crore
Revenue up 39% at Rs 316 crore vs Rs 227 crore
EBITDA down 47.5% at Rs 13.6 crore vs Rs 25.9 crore
EBITDA margin at 4.3% vs 11.4%
To issue corporate guarantee of up to 2 million euros to arm Elventive France
Cochin Shipyard Q2FY27 (Consolidated, YoY)
Net profit down 50% at Rs 53.8 crore vs Rs 107.5 crore
Revenue up 11.7% at Rs 1,249 crore vs Rs 1,119 crore
EBITDA down 30.8% at Rs 50.95 crore vs Rs 73.66 crore
EBITDA margin at 4.1% vs 6.6% YoY
To pay interim dividend of Rs 3/share for FY27
MRF Q2FY27 (Standalone, YoY)
Net profit down 27.8% at Rs 369 crore vs Rs 512 crore
Revenue up 17.6% at Rs 8,524 crore vs Rs 7,250 crore
EBITDA down 16.3% at Rs 913 crore vs Rs 1,090 crore
EBITDA margin at 10.7% vs 15%
To pay interim dividend of Rs 3/share for FY27
Whirlpool Of India Q2FY27 (Consolidated, YoY)
Revenue up 13.7% at Rs 1,873 crore vs Rs 1,647 crore
Net profit down 39% at Rs 25 crore vs Rs 41 crore
EBITDA down 32.1% at Rs 39.5 crore vs Rs 58.2 crore
EBITDA margin at 2.1% vs 3.5%
Company had one-time gain of Rs 10 crore in Q2FY26
Olectra Greentech Q2FY27 (Consolidated, YoY)
Revenue up 4.6% at Rs 687 crore vs Rs 657 crore
Net profit up 6% at Rs 53 crore vs Rs 50 crore
EBITDA up 2.2% at Rs 92 crore vs Rs 90 crore
EBITDA margin at 13.4% vs 13.7%
Stocks In News
IIFL Finance
Approves Rs 6,414 crore preferential fundraise, led by Blackstone, at Rs 602/share – 4% discount to CMP
Blackstone-affiliated Ingot SG Pte to infuse Rs 5,000 crore
Anchorage Capital Schemes to infuse Rs 150 crore
Promoter Nirmal Jain to infuse Rs 903 crore
Promoter Venkataraman Rajamani to infuse Rs 271 crore
Promoter Ardent Impex to infuse Rs 90 crore
Blackstone and Anchorage will subscribe through compulsorily convertible preference shares (CCPS), while promoters will invest through warrants
Blackstone will acquire a 15.57% fully diluted stake, becoming a significant minority shareholder
Globus Spirits
Canteen Stores Department (CSD) has approved the introduction of DŌAAB India Craft Whisky – Single Malt into its inventory. This approval allows DŌAAB to access all CSD outlets nationwide.
IRB Infra
Gross toll revenue up 26% at Rs 836 crore YoY in October 2026
Bajaj Finance
To issue warrants worth Rs 5,800 crore to promoter Bajaj Finserv
To issue 5.74 crore warrants at Rs 1,010/warrant – 5% discount to CMP
Corporate Announcements
Tata Motors CV
Shareholding increased to 96.25% in Iveco Group. With shareholding exceeding 95%, it will initiate a Dutch legal squeeze-out for the remaining outstanding shares
Trading in Iveco Group N.V. shares will be suspended by Borsa Italiana
The squeeze-out will proceed without a prior demerger and share sale
Gokaldas Exports
A client has filed for bankruptcy
Company has receivables of $4.11 million
Sula Vineyards
Received a GST demand of Rs 1.7 crore
GPT Infraprojects
Declared L1 bidder for Rs 104 crore North Eastern Railway order
Order for supply of Electronic Interlocking (EI) system
Apeejay Surrendra Park Hotels
Launches 42-room hotel in Mathura
Artson
Won an order worth Rs 16 crore from Tata Steel to supply two dome and reformer shells
HLE Glasscoat
Won an order worth $42-48 million from an international entity operating in the energy storage sector in North America
Bondada Engineering
Incorporates UAE-based wholly owned subsidiary for its international expansion plans
It will focus on renewable energy, Battery Energy Storage Systems (BESS), telecom, energy and power infrastructure, along with other related business opportunities
MRF
Company says steep increase in prices of raw materials due to global uncertainties adversely affected profitability
Price increase and cost-saving measures by the company helped mitigate cost pressures
Anticipates continued disruptions and volatility in commodity markets
Raw material and logistics costs are expected to remain elevated
Will continue to take measured steps to address these challenges
Monarch Networth
First fundraise of MNCL Compounder Fund completed
Jyothy Labs
Raises buyback price to Rs 240/share from Rs 215/share
Cuts buyback shares to 61.2 lakh from 68.4 lakh
BHEL
Telangana tax body drops demand of Rs 207 crore
Bank Of Baroda
1-month MCLR increased to 8% from 7.95%
3-month MCLR raised to 8.50% from 8.30%
6-month MCLR increased to 8.70% from 8.50%
1-year MCLR raised to 8.85% from 8.75%
Veegaland Developers
Board approved the appointment of Dr. George Sleeba as Additional Director and Whole-time Director for a term from November 10, 2026 to November 9, 2029
Jyothy Labs
Buyback committee approved an increase in the buyback price from Rs 215 to Rs 240 per equity share
Whirlpool Of India
Implemented price hike of nearly 5% from November 1
Star Health
IRDAI approves acquisition of shares of the company by schemes of HDFC Mutual Fund
IRDAI approves HDFC MF buying up to 9.99% stake
EPACK Prefab Tech
Rahul Agarwal ceases to be CFO
Had resigned earlier on July 15 due to personal reasons
Ashoka Buildcon
Gets LoA worth Rs 866 crore for NHAI project
On Bloomberg
India's NSE Plans Expansion Of AI Computing Capacity
National Stock Exchange of India plans to scale its artificial intelligence computing capacity to as much as 224 GPUs, with more than 80 GPUs planned during the quarter, to support growing AI workloads.
Source: RBI
Abhyudaya Co-operative Bank
RBI extends supersession of the bank's Board of Directors by one year with effect from November 24, 2025
Board was originally superseded by RBI on November 24, 2023, citing material concerns over poor governance standards
Supersession period was extended in November 2024 and has now been further extended for another year
FYI On PTI
HSBC upgrades Indian equities to 'overweight', cuts China to 'neutral'
Corporate Actions – November 11
Jyothy Labs Limited - Buyback
Bulk/Block Deals
Aarti Drugs Limited
Microcurves Trading Private Limited bought 1.32 lakh shares at Rs 500.23/share
QE Securities LLP sold 5,143 shares at Rs 502.28/share
Junomoneta Finsol Private Limited bought 1,909 shares at Rs 500.07/share
HRTI Private Limited bought 40,203 shares at Rs 495.08/share
Alphagrep Securities Private Limited bought 190 shares at Rs 499.83/share
Chemplast Sanmar Limited
Alphagrep Securities Private Limited bought 1,600 shares at Rs 238.84/share
Cohance Lifesciences Limited
JASUB Property Holdings LLP bought 30 lakh shares at Rs 430/share
Jasti Family Trust sold 30 lakh shares at Rs 430/share
Data Patterns (India) Limited
Graviton Research Capital LLP bought 788 shares at Rs 3,943.90/share
KPI Green Energy Limited
Junomoneta Finsol Private Limited bought 237 shares at Rs 344.75/share
QE Securities LLP bought 18,686 shares at Rs 342.70/share
IMC India Securities Private Limited bought 1.86 lakh shares at Rs 345.22/share
M K Sons Fine Jewels Limited
Goldman Sachs Bank Europe SE sold 3.04 lakh shares at Rs 153.51/share
Ratnaveer Precision Engineering Limited
Unity Associates sold 5 lakh shares at Rs 364.15/share
Technocraft Ventures Limited
Acme Capital Market Limited bought 52,737 shares at Rs 512.22/share
Richa Gupta bought 2.12 lakh shares at Rs 513.05/share
V2 Retail Limited
Mansi Share and Stock Broking Private Limited sold 13.94 lakh shares at Rs 169.65/share
Insider Trades
Ramkrishna Forgings Ltd
Riddhi Portfolio Private Limited, Promoter Group, bought 50,000 shares
Globus Spirits Ltd
Rambagh Palace Hotels Private Limited, Promoter Group, bought 60,600 shares
Vinati Organics Ltd
Suchir Choksi, Promoter and Director, bought 19,527 shares
Camlin Fine Sciences Ltd
Ashish Subhash Dandekar, Promoter and Director, pledged 84,00,000 shares
Trading Tweaks
Price band change from 20% to 10%
Transworld Shipping Lines Limited
Securities Shortlisted In Short-Term ASM Framework Stage
Entero Healthcare Solutions Limited
MM Forgings Limited
Ramky Infrastructure Limited
Sahajanand Medical Technologies Limited
Symbiotec Pharmalab Limited
Securities To Be Excluded From ASM Framework
Acutaas Chemicals Limited
Ather Energy Limited
Fascinate Textiles Limited
Hero Motors Limited
Hubtown Limited
Shree Pushkar Chemicals & Fertilisers Limited
F&O Cues
Nifty November futures flat at 25,028.00 at a discount of 16 points
Nifty options – November 17 expiry: Maximum call open interest at 26,000 and maximum put open interest at 23,000
Securities Under Ban
KAYNES TECH
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