Domestic stock markets witnessed losses of more than 0.90% on Wednesday, October 6, 2021, amid negative global cues.
Domestic stock markets witnessed losses of more than 0.90% on Wednesday, October 6, 2021, amid negative global cues. The Sensex closed below the 59,500 mark while the Nifty settled below the 17,650 level. The BSE Sensex plunged 555 points, or 0.93 per cent, to finish at 59,190. The NSE Nifty also declined 176 points, or 0.99 per cent, to end at 17,646. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Thursday, October 7, 2021. List of such five stocks:
Stocks to be added in F&O: 8 new stocks will enter the F&O space in the November series with effect from October 29, 2021. The eight stocks are ATUL Ltd, Birlasoft Ltd, Chambal Fertilizer, Firstsource solution, GSPL, Laurus Labs, SBI Cards and Whirlpool India.
Price Band Revision – Circuit Filter Revision for 235 stocks
Increased from 5% to 20%: Nureca Ltd, Dhampur Sugar, Punjab Alkalies & Chemicals, NACL Industries, Shreyas Shipping, RSWM, Best Agro.
Increased 10% to 20%: 5 Paisa, Angel Broking, Ruchi Soya, Majesco Ltd, Lux Industries, Ujjivan Financial Services, Avadh Sugar, Thomas Cook, Kamat Hotel, VST Tillers, Transport Corporation of India, BF Utilities, Dhani Services, NRB Industrial Bearing, Talbros Engineering, Suryoday Small Finance, Andhra Sugar and Dish TV.
Increased 5% to 10%: Bambino Agro Industries, Magadh Sugar & Energy, Coffee day Enterprises, S Chand and Company, Hindustan Construction Company Ltd, Kingfa Science & Technology, KCP Sugar & Industries Corporation and Rushil Décor.
Business Updates: Titan + Sobha Limited + CreditAccess Grameen
Titan: The Indian luxury products company in its Q2FY22 quarterly update on Wednesday said, the Company witnessed a strong recovery in demand after the second wave. In its highlight for the quarter Titan said, its revenue in the jewellery segment grew 78% year-on-year and it opened 13 new stores in the quarter. Jewellery segment witnessed a string comeback in Q2FY22 bs Both plain and studded segments grew in double digits, however a much stronger growth in the plain segment led to studded mix being below pre-pandemic levels. Watches and wearables registered a revenue growth of 73% year-on-year and it opened 8 stores in the quarter. The division recovered rapidly in Q2 with sales acceleration witnessed across all product brands. The E-commerce sales also continued their growth momentum. Walk-ins continue to slowly improve with malls and LFS at 65% and 70% of pre-pandemic levels respectively. Healthy growth was witnessed in the eyewear segment with revenue rising 74% year-on-year and it opened 24 new stores in the segment in Q2FY22. A healthy growth was witnessed in the segment and the division’s E-commerce push has progressed well with the launch of the Titan Eyeplus’ App. Revenue in other businesses grew by 121% year-on-year. Revenue in TCL (standalone) grew 78% year-on-year and it opened 45 new stores of the same in this quarter. Revenue in TEAL (Titan Engineering and Automation Ltd ) dropped by 43%. CaratLane’s business continued its growth trajectory with strong consumer demand in Q2 FY22 and revenue of the segment grew by 95% and it opened 2 new stores in the segment.
Sobha Limited: The company in its real estate operations update for the quarter ended September 30, 2021, on Wednesday said it has clocked 49% YoY growth in sales bookings at Rs 1,030 crore during the second quarter of this fiscal as compared to Rs 690 crore posted in the year-ago period. Sequentially, the company sold properties worth Rs 683 in the previous quarter ended June 30, 2022. Sales value increased by 62% YoY and 50% QoQ to Rs 854 crore. The sales value stood at Rs 571 crore in Q1FY21 and Rs 531 crore in Q2FY21. Total average price realisation in Rs/Square feet increased to Rs 7637 from Rs 7,626 in Q1FY22 but dropped from Rs 7,737 in Q2FY21. The company has achieved the best-ever quarterly sales volume of 1,348,864 square feet of super built-up area valued at Rs 10.30 billion. It also achieved the best ever Sobha Share of the sale value of Rs 8.54 billion.
CreditAccess Grameen: In its monthly business update the microfinance institution said Gross Loan Portfolio (GLP) grew 6.5% QoQ and 22.9% YoY to Rs 11,320 crore in September 2021 as against Rs 11,155 crore posted in August 2021 and Rs 9,211 crore posted in September 2020, respectively. Disbursement fell 6% QoQ but increased 124.1% YoY to Rs 1,117 crore in September 2021 as against Rs 1,188 crore posted in the previous month and Rs 499 crore last year, respectively. Collection efficiency stood at 93.3% (excluding arrears) and 99% (including arrears).
Telecom Stocks: Stocks like Vodafone Idea, Bharti Airtel and Reliance Industries will be in focus today as providing relief to the telecom players, the government has reduced the penalty for delayed payment on the license fee. Besides, the Department of Telecom (DoT) has reduced bank guarantees of telecom companies and from now onwards, the companies will have to give only a 20% guarantee. DoT has also eased the process of installing mobile towers.
Banking Stocks: Global rating agency Moody’s on Wednesday changed the rating outlook of nine Indian banks to “stable” from “negative”. These lenders include State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, Bank of Baroda, Canara Bank, Punjab National Bank, Export-Import Bank of India, and Union Bank of India.
