Sensex Today | Stock Market Highlights: Nifty fails to hold 25,900, dragged by pharma, banking sector

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On Capex and infra sectors“I think the whole market is currently focused on consumption. And of course, there have been big triggers in terms of various tax cuts, but our sense is the pillars of growth will remain both capex and consumption. And if you look at the last five months data on central government’s capex, the growth has been very strong, and that, of course, comes on a very low base, but we believe that that ₹11 lakh crore capex target will be met for this year. And as such, we remain quite constructive on capex as a theme. And I think various segments like power T&D, solar, wind and ancillary companies in that space, I think, two-wheeler and the whole auto segment is set for a transition from ICE to EV. So there is going to be a massive change in the overall infrastructure story in India and ports, roads, railways, and there is a massive, capex story. Of course, we are coming up with infrastructure fund. But from my point of view, definitely infrastructure remains a big part of the funds that I manage, and hopefully that segment should deliver a strong earnings growth. I think after 12 to 18 months kind of a pause, we believe the earnings will get pretty strong. And from whatever we have seen this quarter. I think most construction infrastructure companies look set for good couple of years going down the line.”MARKET AT CLOSEMarket Closes In The Red With Large Caps Underperforming MidcapsNifty Fails To Hold 25,900, Nearly 40 Nifty Stocks Are In The RedMarket Breadth Is In Favour Of Declines, Adv-Decline Ratio At 2:3Sensex Falls 593 Points To 84,404 & Nifty 176 Points To 25,878Nifty Bank Slips 354 Points To 58,031 & Midcap Index 53 Points To 60,096Pharma Falls The Most, DRL Is Top Nifty Loser On Dvpt w.r.t SemaglutideUmang Vohra To Step Down As CEO Of Cipla, Stock Falls Up To 3%Coal India Is Top Nifty Gainer, Rises Nearly 2% Tracking Coal PricesL&T Closes In The Green But Off Highs After +ve CommentaryPB Fintech Surges 7% As Co Reports An All-round Beat In Q2BHEL, AB Cap, Canara Bank React Positively To Earnings, Up 3-7%LIC Hsg Fin Misses Est While Union Bk Reports An In-line Q2, Stocks Down Up To 4%Vodafone Idea & Indus Towers Are Under Pressure As SC Releases AGR OrderAppellate Tribunal Defers Market Coupling Case To November 28, IEX Down 3%Mixed Commentary After Earnings Drags Varun Beverages, Stock Down 2%Hyundai Motor Rises 2% While Coromandel Intl Falls 3% Post Q2 Results

We Confirm That Some Indian Companies Have Received Licenses For Importing Rare Earth Magnets From China

We Are Studying US Sanctions On Russian Oil Companies

Ensuring Our Energy Security Needs At An Affordable Prices Is A Priority For India

India Has Received An Exemption From US Sanctions On Chabahar For A Six Month Period

We Continue To Remain In Dialogue With US On The Trade Deal

“I think both L&T as well as BHEL, I think the numbers are backed on a very strong order book that they always carried and executed thereafter. Of course, BHEL, the growth numbers are looking very, very handsome. Also, because of the fact that I think last year, probably the base was slightly lower compared to what they executed in the current quarter. So that could be, I think, one of the reasons. Now, whether one would see this kind of a sustained growth on a quarter-over-quarter basis, I think that’s a question mark, or maybe I think explanation that management can provide in the earnings call. As regards the visibility of the execution is concerned, if you forget the quarter-over-quarter basis kind of a number, I believe that L&T looks, I think, pretty set for, I think, a larger growth. On a quarter-by-quarter basis, I think they’ve been recording higher amount of order inflows, which is giving them now the visibility beyond three years of execution. As far as the growth is concerned, I think it will be maybe in double digits, not mid-double digits, but I think somewhere between 10% to 15% kind of a growth they will continue to operate within three years’ time. So, we like L&T proposition far better, given the visibility that it is offering. BHEL, of course, would like to see how they can sustain this kind of growth rate, which they have produced in this quarter.”

I Was Brought In At The Time When We Had To Make Cipla Ready For Sustainable Future

Have Developed A Robust Talent Pipeline

My Task At Cipla Over 2 Terms Is Complete

The Management At Cipla Is Completely Professionalised

There Is No Vacuum, Cipla Has Enough Talent

I Have Completed What I Set Out To Do In The 10 Years

The Management At Cipla Is Completely Professionalised

There Is No Vacuum, Cipla Has Enough Talent

I Will Not Retire, Believe We Should Work Till We Can, Till 65-70 Yrs

Not Too Much We Can Speak About On Agreement With Eli Lilly

Trusted Partnership On Mounjaro

Cipla Will Supplement Eli Lilly’s Sales

Margins Will Be Similar To Earlier Arrangements With Eli Lilly

We See Mounjaro As Superior To Semaglutide

Net Profit (GU)75.2% At `74.3 Cr Vs `42.4 Cr (YoY)

Revenue (GU)19.6% At `929 Cr Vs `777 Cr (YoY)

EBITDA (GU)32% At `132.7 Cr Vs `100.7 Cr (YoY)

Margin At 14.3% Vs 13% (YoY)

Net Profit At `1,572 Cr Vs CNBC-TV18 Poll Of `1,518 Cr

Revenue At `17,461 Cr Vs CNBC-TV18 Poll Of `17,532 Cr

EBITDA At `2,430 Cr Vs CNBC-TV18 Poll Of `2,380 Cr

Margin At 13.90% Vs CNBC-TV18 Poll Of 13.60%

Net Profit (GU)14.3% At `1,572.2 Cr Vs `1,376 Cr (YoY)

Revenue (GU)1.2% At `17,461 Cr Vs `17,260 Cr (YoY)

EBITDA (GU)10% At `2,429 Cr Vs `2,205 Cr (YoY)

Margin At 13.91% Vs 12.80% (YoY)

Net Profit At `15.3 Cr Vs Loss Of `9Cr (YoY)

Revenue (GU)20.2%

At `1,432 Cr Vs `1,192 Cr (YoY)

EBITDA (GU)43.30%

At `199 Cr Vs `134 Cr (YoY)

Margin At 13.90% At 11.65% (YoY)

Shares of Adani Power Ltd. cooled off from the highs of the day in response to its September quarter results that were reported on Thursday, October 30.

The company’s net profit declined by 11% from last year to ₹2,953 crore. Revenue grew by 1% year-on-year to ₹13,457 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 2% from last year to ₹5,150 crore, while margins narrowed by 130 basis points to 38.3% from 39.6% last year.

here

Net profit down 16.42% at ₹56 cr vs ₹67 cr (YoY)

Revenue down 1.8% at ₹263 cr vs ₹268 cr (YoY)

EBITDA down 9.4% at ₹110.5 cr vs ₹122 cr (YoY)

Margin at 42% vs 45.5% (YoY)

Siddharth Rai Mangala, Sr. Research Analyst at Stockbox Technologies

Jay Thakkar, Head Derivative and Quant research, ICICI Securities

The shares of Aditya Birla Capital surged by over 3% after the company announced its quarterly results.

The shares of Exide Industries fell by over 3% from highs after the company delayed its results.

Exide | Postpones Board Meet For Results As I-T Dept. Is Conducting Survey

Quarterly Report

Germany’s ISC Konstanz and solar equipment maker Solex Energy have inked a memorandum of understanding (MoU) for technology cooperation and research and development in the production of solar cells.

The company’s rear-contact solar module, which uses the full front surface to absorb sunlight, is a more efficient technology, according to Chetan Shah, Chairman and Managing Director of Solex Energy.

The shares of Cipla slumped from the day’s high after the company announced a leadership change.

Cipla

Market extends losses, now at day’s low; Nifty below 25,900 & Nifty Midcap below 60,000

The shares of Adani Power have fallen over 2% from the day’s high after the company announced its Q2 results.

Adani Power Q2

As the Nifty falls to the day’s low, these are some of the biggest contributors to the index’s loss today.

Nifty below 25,900; HDFC Life & DRL among top Nifty losers

Canara Bank’s net non-performing assets (NPA) increased to ₹6,113.2 crore from ₹6,765.2 crore in the previous quarter, while its gross NPA improved to ₹27,040 crore from ₹29,518 crore.

While the lender’s net profit increased 19% year over year to ₹4,774 crore, its net interest income (NII), also known as core income, decreased 2% from the previous year to ₹9,141 crore.

The shares of Shriram Properties surged after the company announced that it has signed a JDA.