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Share Markets at a Glance:
During highly volatile trade in share market, Nifty today plunged by 41.2 points and settled below 11900. Similarly, Sensex also declined by 148.82 points and closed at 40558.49.
Among sectors, Media, Metal, Realty and FMCG able to manage marginal gains. While Nifty Bank, Fin Services, IT and pharma ended in red. Mid-caps and small-caps outperformed the benchmark indices.
Top Gainers/Losers in today’s Share Market:
NTPC, Tata Motors, Bharti Airtel, IOC and Bajaj Finance were among the top performers in today’s session. On the other hand, Hero Motocorp, IndusInd Bank, ICICI Bank, Titan and Hindalco were among the top losers.
DII/FII Data of today’s Share Market:
DII keep their massive selling and divested Rs.2019.87 crore. On the other hand, FII invested Rs.1118.46 crore.
| CATEGORY | DATE | BUY VALUE (₹ Crores) | SELL VALUE (₹ Crores) | NET VALUE (₹ Crores) |
| DII | 22-Oct-20 | 3,207.37 | 5,227.24 | -2,019.87 |
| FII/FPI | 22-Oct-20 | 8,325.73 | 7,207.27 | 1,118.46 |
SBI Cards Q2: Profit drops by 46%, as NPA provisions rise
SBI Cards and Payment services ltd reported Q2 net profit of Rs.206 crore, which is 46% lower than last year’s profit of Rs.381 crore. Its gross NPA assets stood at 4.29% in this quarter against 2.33% NPA last year.
Retail spends in the quarter under review increased nearly 50 per cent quarter-on-quarter. But total provisions for NPAs and bad loans grew more than doubled to Rs.862 crore from last year’s Rs.329 crore. Stock took a massive hit in today’s session, as its price plunged by 7.41% to Rs.829.
2-W major Bajaj Auto profit declined by 18.84% in Q2, misses street estimates:
Bajaj Auto posted net profit of Rs.1138.2 crore which shows a drop of 18.84%, as its last year’s same quarter profit stood at Rs.1402.42 crore. Total revenue from operations declined 7.16% YoY to Rs.7155.86 crore.
Company managed to sell 1053337 units during this year’s Q2, which is 10% lower than last year’s Q2. Company has surplus cash and equivalent of Rs.16240 crore up from last year’s Rs.14232 crore. Its stock closed 0.71% lower today at Rs.2996.55.
Asian Paints Q2: Net profit almost flat, declared interim dividend of Rs.3.35 per share:
Asian Paints posted net profit of Rs.830.37 crore which is just 0.84% higher than its last year same quarter’s profit of Rs.823.41 crore. Company’s consolidated revenue from operations increased 5.93% YoY to Rs.5350.23 crore.
It also announced an interim dividend of Rs.3.35 per share. Ahead of Q2 earnings, company’s share price closed 0.88% lower at Rs.2095.75, as company declared Q2 results after market hours.
Quick Bytes:
- India at doorstep of economic revival, says RBI Governor.
- RBI announced on tap Targeted Long-Term Repo Operations (TLTRO) scheme of up to Rs.1 lakh crore, so that banks will have enough credit to lend out to critical sectors like agriculture, retail, Pharma and MSME.
- Equitas Small Finance IPO gets overall 2X subscription on its last day of IPO.
- Bharti Infratel Q2 net profit falls 24% YoY to Rs.733 crore. Company also completed merger deal with Indus Towers. Stock price rallied 1.79% higher and closed at Rs.196.2.
- FPI and Promotors hiked their stake in Reliance Industries (RIL) during Q2. FPI increased the stake from 24.72% to 25.2%, while promotors raised their stake from 50.37% to 50.49%.
- Gland Pharma gets SEBI nod to raise up to Rs.6000 crore through IPO.
- Burger King also files IPO papers to raise Rs.542 crore.
- Q2 Results Today: Asian Paints, Bajaj Auto, Bharti Infratel, HDFC Asset Management Company, SBI Cards and Payment Services, Hexaware Technologies, Indian Bank, Biocon, Alembic Pharmaceuticals, 3i Infotech, Automobile Corporation of Goa, Allsec Technologies, Asahi Songwon Colors, Bajaj Holdings & Investment, Coforge, Crompton Greaves Consumer Electricals, Gokaldas Exports, L&T Finance Holdings, MIC Electronics, Mphasis, Pricol, Music Broadcast, Reliance Power, Sterlite Technologies, Subros, Tube Investments of India, and UCO Bank