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Sensex Today: Closing Bell: Fag-end buying drives Sensex 114 pts higher; Nifty above 18,100, Adani Enterprises rallies 7%, Hero Moto sheds 2%

Sensex Today Live Updates: Despite the fears that Federal Reserve’s 75 bps rate hike may trigger a widespread recession, benchmark equity indices opened higher on Friday, reversing previous day losses. Led by the index heavyweight Reliance, banking and financial stocks.At 9.18 am, the BSE Sensex was trading 148 points or 0.24% higher at 60,984. Nifty50 was trading at 18,098, up 43 points or 0.25%.“There are two broad trends, one negative and the other positive, in the market now. The negative trend is the rising interest rates globally. The Fed’s message that the terminal rate in this rate hiking cycle would be higher than expected earlier is a negative for equity markets. Bond yields (10-year US bond yield is at 4.15%) and the dollar index (112.8) are moving up dragging equity markets down,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.“But even in this unfavourable environment FII flows into India are rising. FIIs have been buyers in the cash market for the sixth straight trading day. This vote of confidence in India is a clear positive. For the near-term the influence of these negative and positive factors will keep the Nifty in a range with no breakouts or breakdowns,” Vijayakumar added.Among Sensex stocks, Bajaj Finserv, Axis Bank, Bajaj Finance, Reliance, Maruti, M&M and L&T were the top gainers, rising about 0.5-1.5%. Tata Steel, NTPC, HDFC, Nestle, UltraTech Cement and Power Grid Corp also opened higher.On the other hand, Infosys, Dr Reddy’s, HCL Tech, TCS, Tech Mahindra and Sun Pharma opened with the cuts.

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Most active stocks in afternoon session

Price as on 04 Nov, 2022 03:01 PM, Click on company names for their live prices.

GAIL India Q2

Cipla Q2 Results: Profit rises 11% YoY to Rs 789 crore, in line with estimates

Pharma major Cipla on Friday reported a 10.9% year-on-year (YoY) rise in its September quarter consolidated net profit at Rs 788.9 crore while its total revenue from operations increased 5.57% on year to Rs 5,828.54 crore.

The profit figure was in line with ET Now poll estimate of Rs 790 crore.

Cipla said its EBITDA stood at Rs 1,303 crore during the quarter, higher than the estimate of Rs 1,288 crore. Its consolidated margins came in at 22.3% against the Street expectations of 22.1%.

Cipla Q2 Results: Profit rises 11% YoY to Rs 789 crore, in line with estimates

These stocks are trading close to 52-week highs

These stocks are trading close to 52-week highs

Present corporate earnings and the Q3 GDP growth do not reflect the complete interest rate hike yet: Ajay Bagga

STOCK IN NEWS: HERO MOTO

Drug maker Lupin on Friday said it has received approval from the US health regulator to market Drospirenone tablets, used to prevent pregnancy, in the American market. The company has received tentative approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA), Drospirenone Tablets in 4 mg strength, the Mumbai-based drug maker said in a statement.

Price as on 04 Nov, 2022 01:34 PM, Click on company names for their live prices.

We are in the midst of the Q2FY23 corporate earnings. Results so far have been largely in line with street estimates. However, dispersion has been wide at a sector and stock level with domestic facing sectors faring better than those with global linkages. BFSI led the pack with pick-up in credit growth, higher margins and improving asset quality. Revenue growth remained robust but margins were impacted by the inflationary pressures. Commentary from companies indicated some easing of inflationary pressure which could lead to improvement in margins in the future. Going forward, market would monitor RBI actions in upcoming monetary policy in December and outlook on interest rate trajectory. Geo-political issues and action of global central banks would likely be other factors that market participants would watch out for.

– Shibani Sircar Kurian, Senior EVP & Head- Equity Research, Kotak Mahindra Asset Management Company

Bikaji Foods International IPO sails through on day 2 of bidding process

According to the data from BSE, investors made bids for 2,07,83,600 equity shares or 1.01 times compared with 2,06,36,790 equity shares on offer for subscription.The quota for retail bidders was subscribed by 1.62 times, whereas portions for employees were subscribed 93%. HNI allocation fetched 88% bids and the portion for institutional investors was subscribed 2%.

Bikaji Foods International IPO sails through on day 2 of bidding process

Servotech Power Systems has bagged a Rs 46.2 crore order from Bharat Petroleum Corporation Ltd (BPCL) for supplying and installing a series of EV Chargers at different locations across the country in the next four months. The project to supply and install 800 units of DC fast EV Chargers has already been initiated from Delhi and is expected to be completed by March 31, 2023, a company statement said.

Price as on 04 Nov, 2022 12:17 PM, Click on company names for their live prices.

BSE SMALLCAP jumps 0.35%, beats benchmark index

BSE SMALLCAP jumps 0.35%, beats benchmark index

Q2 EARNINGS: GILLETTE

Tokyo stocks close lower with eyes on US jobs data

Tokyo stocks closed lower on Friday, with investors disheartened by falls on Wall Street and focus shifting to key US jobs data due later in the day. The benchmark Nikkei 225 index dropped 1.68 percent, or 463.65 points, to 27,199.74 while the broader Topix index ended down 1.29 percent, or 25.06 points, at 1,915.40.

Check out the top gainers from the metal & mining pack

Price as on 04 Nov, 2022 11:40 AM, Click on company names for their live prices.

Cochin Shipyard has received an order of about Rs 1,000 crore to construct vessels from a European client, the company said in a regulatory filing on Thursday.

Price as on 04 Nov, 2022 11:19 AM, Click on company names for their live prices.

What’s behind the rally in Piramal Pharma shares? Watch this

Amara Raja Batteries zoomed 10.79% after reporting a 39.42 per cent rise in consolidated profit after tax to Rs 201.22 crore in the second quarter ended September 30, driven by higher sales. The company had posted a consolidated profit after tax of Rs 144.32 crore in the same period last fiscal.

Price as on 04 Nov, 2022 10:59 AM, Click on company names for their live prices.

SRF said its board has approved investment of Rs 604 crore for setting up four new plants and capacity expansion of existing facilities.

Price as on 04 Nov, 2022 10:58 AM, Click on company names for their live prices.

Kalpataru Power Transmission receives new orders worth Rs 1290 crore

Price as on 04 Nov, 2022 10:30 AM, Click on company names for their live prices.

Raymond hits 52-week high, stock rose over 5% in early trade on two-fold jump in consolidated net profit to Rs 161.95 crore for the second quarter ended September 30 on improved growth across its business segments. The company had posted a net profit of Rs 56.15 crore during the July-September quarter of the previous fiscal. The stock is now trading 2.76% up

Price as on 04 Nov, 2022 10:28 AM, Click on company names for their live prices.

Kalpataru Power Transmission has secured new orders worth Rs 1,290 crore. In included orders in overseas market in the T&D business, order for oil & gas pipeline Works in India and order for railway works in India.

Price as on 04 Nov, 2022 10:26 AM, Click on company names for their live prices.

Adani Enterprises’ growth roadmap: Lower costs aided EBITDA in Q2, What are the company’s capex plans? Group CFO, @Jugeshinder in conversation with ET Now

JMC Projects (India) secures new orders worth Rs 2,277 crore

Price as on 04 Nov, 2022 10:06 AM, Click on company names for their live prices.

Navratna Defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Motorola Solutions India Pvt Ltd for co-operation in the field of broadband, push-to-talk service. The MoU aims at leveraging the complementary strengths and capabilities of BEL and Motorola, the Bengaluru-headquartered company said in a statement.

Price as on 04 Nov, 2022 10:04 AM, Click on company names for their live prices.

Nifty Pharma in the red; down 0.64%

Price as on 04 Nov, 2022 10:00 AM, Click on company names for their live prices.

India has cheapest manufacturing cost globally: Report

India has been ranked as the nation with the cheapest manufacturing cost ahead of China and Vietnam, according to the US News and World Report. Out of 85 nations, India has bagged the 31st position in the overall Best Countries ranking. India featured at the 37th spot in the ‘Open for Business’ category. Under the open for business sub-category, India has scored 100 per cent when it comes to cheap manufacturing costs. But in ‘favourable tax environment’, it has scored 16.2 out of 100; 18.1 in the ‘not corrupt’ category and 3.5 in ‘transparent government policies’.

Hero MotoCorp reported a 9 per cent decline in its consolidated net profit to Rs 682 crore for the second quarter ended September 30, mainly due to enhanced expenses and a slight dip in sales during the period. It had reported a net profit of Rs 748 crore in the July-September period of the previous fiscal.

Price as on 04 Nov, 2022 09:55 AM, Click on company names for their live prices.

Buy or Sell: Stock ideas by experts for November 04, 2022

Vodafone Idea, the debt-ridden telecom operator, reported widening of consolidated loss to Rs 7,595.5 crore in the second quarter ended September. The company had posted a loss of Rs 7,132.3 crore in the same period a year ago.

Price as on 04 Nov, 2022 09:39 AM, Click on company names for their live prices.

Nifty IT has another bad day; index down 0.88%

Price as on 04 Nov, 2022 09:36 AM, Click on company names for their live prices.

Adani Enterprises more than doubled its September quarter net profit on the back of strong performance at its integrated resources management and airports divisions. It posted net profit of Rs 460.94 crore in July-September compared to Rs 212.41 crore profit in the same period a year back.

Price as on 04 Nov, 2022 09:35 AM, Click on company names for their live prices.

HDFC, the merger-bound mortgage major. reported an 18% growth in net income to Rs 4,454 crore in the September quarter, mainly driven by higher retail loan sales that hit an eight-year high of 36 per cent.

Price as on 04 Nov, 2022 09:33 AM, Click on company names for their live prices.

Stocks in focus: Cochin Shipyard, Amara Raja, Eclerx, Rainbow Children, Blue Star and Capri Global and more

There are two broad trends, one negative and the other positive, in the market now. The negative trend is the rising interest rates globally. The Fed’s message that the terminal rate in this rate hiking cycle would be higher than expected earlier is a negative for equity markets. Bond yields (10-year US bond yield is at 4.15%) and the dollar index (112.8) are moving up dragging equity markets down. But even in this unfavourable environment FII flows into India are rising. FIIs have been buyers in the cash market for the sixth straight trading day. This vote of confidence in India is a clear positive. For the near-term the influence of these negative and positive factors will keep the Nifty in a range with no breakouts or breakdowns. However, individual stocks will witness sharp movements responding to the Q2 results. In the present context of high valuations for growth stocks there is value in certain pockets like PSU banks.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Reliance Retail, a unit of Indian oil-to-chemicals conglomerate Reliance Industries , plans to enter the salon business and is in final stages to buy a roughly 49% stake in Naturals Salon & Spa, the Economic Times newspaper reported on Friday.

Price as on 04 Nov, 2022 09:23 AM, Click on company names for their live prices.

Opening Bell: Sensex gains 50 points, Nifty above 18,050; Bank of India rises 4%, MTNL falls 2%

Opening Bell: Sensex gains 50 points, Nifty above 18,050; Bank of India rises 4%, MTNL falls 2%

Pre-open session: Sensex slips over 150 points; Nifty below 18,030

China leads Asia stocks higher

Asian equities rose on Friday, boosted by Hong Kong and China stocks, while the dollar was set for its best week in more than a month as investors priced in the prospect of the Federal Reserve taking interest rates above 5% next year. MSCI’s broadest index of Asia-Pacific shares outside Japan was 1.09% higher, while Australia’s S&P/ASX 200 index rose 0.27%.

Quarterly earnings today

Titan Company, Cipla, Britannia Industries, Interglobe Aviation, Marico, TVS Motor Company, Escorts Kubota and GAIL (India) are among companies that will announce their quarterly earnings today.

SGX Nifty signals a negative start

Nifty futures on the Singapore Exchange traded 24.5 points, or 0.14 per cent, lower at 18,090, signaling that Dalal Street was headed for a negative start on Friday.

Tech View: Nifty forms bullish candle

Trading within a range of 18,000-18,200 for the last four days, headline index Nifty formed a small positive candle on the daily chart with a minor upper shadow, indicating a buy-on-dips opportunity in the market at the highs.

Tokyo stocks open lower with eyes on US jobs data

Tokyo stocks opened lower on Friday, with investors disheartened by falls on Wall Street and focus shifting to key US jobs data due later in the day. The benchmark Nikkei 225 index was down 1.34 percent, or 371.41 points, at 27,291.98 in early trade, while the broader Topix index slipped 0.86 percent, or 16.69 points, to 1,923.77.

US stocks close lower on Fed rate hike worry

US stocks closed lower for a fourth consecutive session on Thursday as economic data did little to alter expectations the Federal Reserve would continue raising interest rates for longer than previously thought.

Oil prices drop as demand fears dominate

Oil prices slid in early trade on Friday, extending losses from the previous session on fears U.S. interest rates will go higher than previously expected and fresh concerns that COVID outbreaks will dent fuel demand in China.

Rupee falls 8 paise to 82.88 against US dollar

The rupee depreciated by 8 paise to close at 82.88 against the US dollar on Thursday, after the US Federal Reserve raised interest rates and maintained a hawkish stance.

Sensex, Nifty on Thursday

The 30-share Sensex ended 70 points lower at 60,836, while its broader peer Nifty 50 ended just above the 18,050 level.

Good morning, dear reader! Here’s something to kickstart your trading day

Good morning, dear reader! Here's something to kickstart your trading day

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