Indian benchmark indices Sensex and Nifty closed higher for the second consecutive day, recovering from initial pressure due to tepid earnings and foreign selling. Banking and financial stocks led the gains.
Maruti Q2 profit dips 18%; revenue at Rs 37,449 cr (29-10-2024)
Maruti Suzuki India on Tuesday reported an 18 per cent year-on-year dip in consolidated net profit at Rs 3,102 crore for the second quarter ended September hit by the withdrawal of indexation benefit and change in the tax rate on long term capital gains on debt mutual funds. The country’s largest carmaker had posted a net profit of Rs 3,786 crore in the July-September quarter of last fiscal.
Stock market update: FMCG stocks down as market rises (29-10-2024)
The 30-share BSE Sensex closed up 363.99 points at 80369.03
Sensex, Nifty rise on buying in bank stocks (29-10-2024)
From the 30 Sensex pack, State Bank of India jumped 5 per cent, followed by ICICI Bank, Bajaj Finserv, NTPC, Adani Ports, Bajaj Finance and Larsen and Toubro. In contrast, Maruti, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Mahindra and Mahindra were among the laggards.
Deepak Fertilizers and Petrochemicals (29-10-2024)
Q2 Fy25 Results
great set of no.s (driven by fertilizers, crop nutrition segment)
YoY revenue – 2,747cr Vs 2,424 cr 
13%
YoY PBT – 298 cr Vs 116 cr 156%
YoY PAT – 214 cr Vs 63 cr 237%
YoY EPS – 16.64 vs 4.76 249.58%
QoQ revenue – 2,747 cr Vs 2,281 cr 20%
QoQ PBT – 298 cr Vs 269 cr 10.7%
QoQ PAT – 214 cr Vs 200 cr 7%
QoQ EPS – 16.64 vs 15.49 7.42%
• Debt Reduction: Prepaid ₹200 crores in debt, improving the Net Debt to EBITDA ratio from 2.66x to 1.64x.
• Change in key RM Prices in Q2FY25: Ammonia ~11% YoY; MOP ▼ ~40% YoY; Gas ~9% YoY
• Mining Chemicals (Technical Ammonium Nitrate):
• In Q2 FY25, premium product LDAN’s sales volume soared by 16% YoY and rose by an impressive 20% in H1 FY25 compared to H1 FY24
• Business Outlook: The mining and infrastructure is expected to pick up post monsoon as demand for Power (Coal), Cement & Steel is expected to increase thereby providing robust support for TAN demand.
Disc invested
Federal Bank shares gain after robust Q2 results (29-10-2024)
Federal Bank reported an 11 per cent y-o-y rise in net profit at ₹1,057 crore in the quarter ending in September 2024
Share market update: Most active stocks of the day in terms of traded value (29-10-2024)
The NSE Nifty index closed 127.7 points up at 24466.85
Adani Enterprises announces Rs 2,000 crore fundraise via NCDs, withdrawal of scheme of arrangement with Adani Wilmar (29-10-2024)
Adani Enterprises approved a Rs 2,000 crore fundraise through Non-Convertible Debentures and withdrew the draft scheme of arrangement with Adani Wilmar. The company announced this along with its second-quarter results.
Rupee settles flat at 84.07 against US dollar (29-10-2024)
At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it traded in a tight range and ended the day at 84.07 (provisional), unchanged from its previous close
Demand under stress; festivals may boost consumption (29-10-2024)
Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestlé India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.