Trade Financial News

Jio Financial will be in focus in Friday's trade as the company will announce its second quarter earnings later today. In the run up to the results, shares of Jio have been muted with a fall of over 6%. In the last five days, the stock sinked nearly 4% amid an overall bearish trend in the markets.

IT services company Infosys will be in focus after the company announced its second quarter results, where it posted a 5% growth in net profit and revenues. The Bengaluru-based tech major has also raised its guidance upwards to 3.75-4% for the current fiscal year.

Andrew Holland, CEO, Avendus Capital, says it will be a margin story this earning season and the talk is on the pressure on margins and how that can be relieved. Holland does not think there is anywhere to hide at the moment. One can only hide in a bit of cash. So, increasing cash levels for the next few months would not be a bad idea given that earnings are not going to help. We have got the US elections and geopolitical problems plus, China is expected to do another stimulus. All of that plays badly for India in the short term. Did you anticipate this kind of carnage on Bajaj Auto post its numbers? Andrew Holland: It was not the numbers per se, it was more the commentary, wasn’t it? Whilst the festive season has picked up a little bit, it is nowhere near anyone's expectations. So, it has really thrown a damper on the whole market because we are all hoping or the market was hoping that the festive season would start to see a pickup in consumption and that is clearly not likely to happen now. On top of that, we anyway expected a weak earning season across the board. The market valuations does not support downgrades whether it is a company or the sector or the market overall. If the earnings continue like this, we could see another 5% correction from here.

Sudip Bandyopadhyay, Group Chairman, Inditrade Capital, says there are signs of a pickup in rural consumption in multiple pockets. It is not that uniform, but in pockets, rural consumption is picking up. As things stand today, there is pressure, but we might not have seen the best already. Further, the IT companies which are catering primarily to the BFSI segment or have a skew towards the BFSI segment are expected to win. For Mphasis, 60% plus business is coming from BFSI. Naturally they are the beneficiaries of that and we believe that they will continue to benefit from this trend. Deal wins also will start happening in BFSI. Bandyopadhyay is positive on Infosys as well. Would you concur with the view that Q2 early indication suggests margin weakness and a miss on earnings – more downgrades than upgrades? Sudip Bandyopadhyay: Unfortunately that looks like the scenario. There is definitely pressure and that is getting reflected in the financial numbers which are coming out in Q2. I would think that IT would be an outlier. There is generally a much better performance and much better traction as far as technology companies are concerned, but many other sectors are witnessing pressure. Very clearly the earnings are under pressure. Of course, there is a silver lining that we had a good monsoon and the festive season has kicked in. So the half year can be different. We will have to wait and watch for the festive sales numbers for pretty much all the sectors including automobiles.

Wipro will be in focus on Friday following IT major's July-September quarter earnings where the company reported a 21% jump in net profit to Rs 3,209 crore for the quarter ended September 2024 versus Rs 2,646 crore logged in the year-ago period. The figure was higher than ET Now poll estimates of Rs 3,050 crore. Revenue from operations in the reported quarter stood at Rs 22,302 crore, marginally lower over Rs 22,516 crore posted in the corresponding quarter of the previous financial year.

Adani Enterprises are expected to remain in focus on Friday after the company successfully raised Rs 4,200 crore in a share sale to investors via a qualified institutional placement (QIP). The company has allocated 1.41 crore shares at an issue price of Rs 2,962 each.

retail investors can get an allotment for the maximum number of bids made. After sailing through on the last day of bidding, Hyundai Motor India is likely to finalise the share allotment for its IPO later today. Going by the subscription numbers, all the retail investors, who bid for the issue, will likely get allotment as the category was not fully subscribed. This is also the case with non-institutional investors.

Zomato will be in focus on Friday as the food delivery company's board of directors will meet on October 22 to consider the plans to raise funds by issuance of equity shares by way of qualified institutions placement (QIP). The company will also announce its September quarter earnings on this day which will be followed by an earnings conference call at 5 pm India time.

government securities at the buyback auction, versus the notified amount of ₹25,000 crore. The amount offered by institutions was ₹33,201.4 crore. This is the second such buyback operation done by the central bank this month. This auction, along with the one last week, was one of the most successful buyback auctions conducted by the RBI since it resumed such operations in May this year, after a gap of six years.

Jio Financial, Infosys, LTIMindtree, Wipro, Tata Consumer, MGL, Axis Bank among others will be in focus due to various news developments and second quarter results. Jio Financial, Tata Consumer, ZEE, ICICI Lombard Jio Financial, Tata Consumer, ZEE and ICICI Lombard will be in focus as the companies will announce their second quarter earnings today.

revenue growth in the past eight years. Against an expectation of around 5% revenue growth, Nestle India posted revenue growth of 1.3% on back of some of its key brands witnessing pressure due to softer consumer demand. The profitability also suffered on account of inflationary prices of coffee and cocoa. The operating profit margin corrected by 100 bps to 23.4%. Raw material cost stood at 43.6% of revenues-same as the year ago elevated level of 43.7%. It has increased its investment in advertising and marketing during the quarter. Other expenses (as a proportion of revenues) increased to 23.6% against corresponding year-ago level of 21.6%. Despite this, muted consumer demand ensured that only five of the company's top 12 brands grew at double-digits.

Bengaluru: Infosys, India’s second-largest IT company, posted a 4.7% increase in September quarter net profit to ₹6,506 crore, slightly below market estimates, from the year earlier. Some deal ramp-ups and an uptick in the key vertical of financial services lifted profit and revenue, which rose 5.1% from the year earlier and 4.2% from the preceding quarter, to ₹40,986 crore.

Subscribe to enjoy similar stories. Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. India's exports saw mild growth in September after a gap of two months, while the Union Cabinet made a slew of announcements for central government employees and farmers, among others.

Hyundai Motor India's ₹27,870 crore initial public offering (IPO) — the country's largest ever — was subscribed 2.37 times on Thursday the final day of bidding. The issue sailed through thanks to a strong appetite from institutional investors as the high net worth and retail investor categories failed to garner enough bids. Investors placed bids for 236 million shares worth ₹46,320 crore in the issue, against the 99.8 million shares worth ₹19,555 crore (excluding anchor allotment) offered by Hyundai Motor India's South Korean promoters. Earlier this week, the company raised ₹8,315 crore (roughly 30% of the IPO size) as part of the anchor allotment from 225 institutional investors.

investors' favour on Thursday after Bajaj Auto guided for lower two-wheeler sales growth in its second-quarter results. Shares of Bajaj Auto — India's largest two-wheeler maker — plunged 13.1% on Thursday, the largest single-day fall since March 2020. The pessimism rubbed off on its peers Hero MotoCorp and TVS Motor, which fell over 3% each. «Bajaj Auto has lowered its estimated growth for the two-wheeler motorcycle industry in the fiscal year 2025 to 5% YoY, down from the previous estimate of up to 8%,» said Shridhar Kallani, research analyst-auto at Axis Securities. «This cautious outlook has unsettled investors and also affected other major two-wheeler manufacturers.»

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