Stock Market highlights: Sensex, Nifty fall for 2nd day on losses in RIL, HUL

Sensex, Nifty live updates: Rupee rises to 18 paise

Rupee rises 18 paise to close at 81.18 (provisional) against US dollar in early trade

Sensex, Nifty live updates: Indian benchmark indexes close in red note

Sensex declines 236.66 points to settle at 60,621.77; Nifty falls 80.20 points to 18,027.65.

Sensex, Nifty live updates: Anand Rathi – Stock Movers – LTIMindtree LTD

CMP – 4310

Target – 5155

Up Side – 20%

Sensex, Nifty live updates: Go long in LTIMindtree LTD stock with a stop loss of 3865

LTIM has been under pressure since quiet some time but at this juncture its trading near its crucial support.  Previously the stock turned from this level and we saw a rally towards 5300.  On DAILY chart it has made nice base near 4250-4300 levels along with Multiple bullish Candlesticks Pattern which is looking lucrative. Thus we advise traders to go long in the stock with a stop loss of 3865

Sensex, Nifty live updates: Yes Securities gives NEUTRAL rating to L&T Tech

We estimate revenue CAGR of 17.5% over FY22‐24E with average EBIT margin of 18.3%. We maintain our NEUTRAL rating on the stock with revised target price of Rs 3,502/share at 28.5x on FY24E EPS. The stock trades at PER of 31.3x/27.7x on FY23E/FY24E EPS , Yes Securities said

Sensex, Nifty live updates: Yes Securities gives NEUTRAL rating to L&T Tech

The long term demand environment remains intact led by growing outsourcing of ER&D services. However, the clients especially in sectors such as Hitech and Medical devices have become cautious regarding the evolving macroeconomic situation leading to signs of demand softness in these segments and it poses near term risks. Employee attrition is expected to come down in H2FY23 and should support operating margin going ahead, Yes Securities said

Sensex, Nifty live updates: Yes Securities gives NEUTRAL rating to L&T Tech

L&T Technology Services (INFO) reported mixed financial performance for the quarter. While, the revenue growth was below with estimates, EBIT margin came slightly above expectation. It reported revenue growth of 0.4% QoQ in USD terms, led by Transportation vertical( up 4.4% QoQ) and Industrial products( up 0.9% QoQ). The INR reported growth of 2.7% QoQ was supported by depreciation of INR by 2.9% QoQ vs USD. There was sequential improvement in EBIT margin(up 51 bps QoQ) led by control on other expenses. There was slight decrease in reported employee attrition as LTM attrition decreased by 80 bps QoQ to 23.3%, said Yes Securities 

Sensex, Nifty live updates: Yes Securities gives NEUTRAL rating to L&T Tech

Reco : NEUTRAL

CMP : Rs 3,397

Target Price : Rs 3,502

Potential Return : 3%

Sensex, Nifty Live updates: Yes Securities give ADD recommendations to AU Small Finance Bank

Strong loan growth and outlook: Bank’s 7% qoq/38% yoy gross advances growth in Q3 FY23 was driven by Wheels (up 3% qoq/35% yoy), Affordable Home Loans (up 10% qoq/76% yoy), Business Banking (up 13% qoq/89% yoy), Agri Finance (up 14% qoq/99% yoy) and other commercial banking products (NBFC and RE financing books). Traction in Secured Business Loans continues to be relatively muted (portfolio up 4% qoq/20% yoy/disbursements up 15% qoq/3% yoy), notwithstanding much lesser rate hikes taken and broadening of customer segment focus. Management remains confident of delivering the guided 25- 30% loan growth in FY23 and continuing the momentum in FY24. Distribution and customer franchise expansion will remain key pillars , said Yes Securities

Sensex, Nifty Live updates: Yes Securities give ADD recommendations to AU Small Finance Bank

Our FY23/24 earnings estimates underwent mild upgrades. While we hold constructive view on the stock with an ADD rating (12m PT of Rs745), NIM/Spread and cost/income trends would be closely monitored , said Yes Securities

Sensex, Nifty Live updates: Yes Securities give ADD recommendations to AU Small Finance Bank

AU Bank delivered a stronger performance over expectations set by the pre-quarter disclosures. Adjusted for the lower PSL income, there was a PPOP/PAT beat of 5- 6%/10-11% respectively. Notably, bad debts recovery and the quantum of contingency/restructuring provisions utilization/reversal was higher in this quarter. At the core, growth in NII and Opex was in-line with expectations, while fee growth and asset quality trends were stronger. Resilient NIM, improving core fee yield, mild moderation in cost/income ratio and modest credit cost underpinned robust RoA/RoE (2%/15%) performance, said Yes Securities

Sensex, Nifty Live updates: Yes Securities give ADD recommendations to AU Small Finance Bank

Reco : ADD
CMP : Rs 621
Target Price : Rs 745
Potential Return : +20.0%

Sensex, Nifty live updates: Yes Securities gives BUY recommendation to Havells India Ltd

We continue to maintain our positive stance on the stock and current correction in the stock price should be used to accumulate the stock as we feel company can continue to outperform industry and its peers, said Yes Securities

Sensex, Nifty live updates: Yes Securities gives BUY recommendation to Havells India Ltd

We estimate EBITDA and PAT CAGR of 13% and 16% respectively. We maintain our target price to Rs 1,480 valuing the stock at 55x and roll forward our target multiple and reiterate our BUY rating. We see strong revenue growth momentum and gradual margin improvement in next 2 years as company is increasing its distribution presence on e‐commerce and rural areas , said Yes Securities 

Sensex, Nifty live updates: Yes Securities gives BUY recommendation to Havells India Ltd

Given the thrust on revenue growth and market share gains, we are factoring FY22‐25E revenue growth trajectory of 15% CAGR. We however have trimmed our margin estimates considering volatility again increasing in commodity prices, higher investments in brand building and normalization on A&P spends, said Yes Securities

Sensex, Nifty live updates: Yes Securities gives BUY recommendation to Havells India Ltd

Havells has once again delivered inline revenue growth with sequential margin improvement. Growth was aided by higher volumes across the product categories with B2B side faring better while B2C business saw impact of high inflationary environment. Margins saw sequential improvement on back of stable commodity prices as most of the high‐cost inventory for Havells was liquidated in Q3. Management expects further margin improvement in Q4 as high‐cost inventory for Lloyds would be liquidated in Q4. Managementis cautiously optimistic of demand as channelfilling for summer products has been strong for Fans and RAC, while rise in commodity prices from end of December could lead to margin volatility going forward, Yes Securities said

Sensex, Nifty live updates: Yes Securities gives BUY recommendation to Havells India Ltd

Reco : BUY

CMP : Rs 1,205

Target Price : Rs 1,480

Potential Return : +22.0%

Sensex, Nifty live updates: Yes Securities maintains BUY recommendations for Stylam Industries Ltd

We reckon EBITDA margins to improve steadily & come in at 15.5%/16.5% in FY23E/FY24E respectively. We reiterate our BUY rating on the stock with a target price of Rs1,534 (revised upwards by 7%), valuing the company at P/E(x) of 20x on FY24E EPS of Rs76.7

Sensex, Nifty live updates: Yes Securities maintains BUY recommendations for Stylam Industries Ltd

We continue to remain positive on the company’s growth plan & reckon SYIL’s laminates volumes to grow by 23%CAGR over FY22‐FY24E. Incremental 40% capacity, should further boost company’s performance. Acrylic biz will also accelerate SYIL’s top‐line growth from coming fiscal. Hence, we expect revenue growth of 33% over FY22‐FY24E

Sensex, Nifty live updates: Yes Securities maintains BUY recommendations for Stylam Industries Ltd

Margins for Q3FY23 came in at 16.8% as compared to 18.7% (revised nos)/16.1% in Q3FY22/Q2FY23 respectively. Absolute EBITDA stood at Rs394Mn, a growth of 19%YoY & remained flat sequentially. Net Debt stood at Rs470Mn as on Dec’22. Working capital cycle during the quarter expanded to 96days Vs 82days in previous quarter, owing to increase in receivable & inventory days & contraction in payable days. 

Sensex, Nifty live updates: Yes Securities maintains BUY recommendations for Stylam Industries Ltd

Stylam Industries Ltd (SYIL) registered a steady set of numbers. Company’s revenue stood at Rs2.34Bn (Vs our est of Rs2.31Bn), reporting a growth of 32%YoY & a decline of 5%QoQ. Exports revenue (66%sales) stood at 1.54Bn,registering a 35%YoY growth & a 6% sequential decline. Domestic revenue (34%sales) grew by 16%YoY & degrew marginally by 2.4%QoQ. Laminates vols came in at 3.01mn sheets in Q3FY23, a growth of 25.4%YoY & decline of 6%QoQ. Realization improved by 2%YoY & remained flattish QoQ to Rs752/sheet.

Sensex, Nifty live updates: HUL shares fall over 4% 

Shares of Hindustan Unilever Ltd declined over 4 per cent in morning trade on Friday as investors preferred to desert the counter amid concerns over increase in royalty and central services arrangement fee to its parent Unilever group

Sensex, Nifty live updates: HUL shares fall over 4% 

The stock fell 4.15 per cent to Rs 2,540.05 apiece on the BSE. At the NSE, it went lower by 4.29 per cent to Rs 2,536.05 apiece. The stock was the biggest laggard among the Sensex and Nifty pack

Sensex, Nifty live updates: HUL Q3 net profit increases

Hindustan Unilever Ltd on Thursday reported a 7.9 per cent increase in its consolidated net profit at Rs 2,481 crore for the third quarter ended December 31, 2022. The company, which had posted a net profit of Rs 2,300 crore in the October-December quarter of the previous fiscal, said its board has approved a new royalty and central services arrangement with Unilever Group that will see an increase in the fees for the same to 3.45 per cent of turnover from 2.65 per cent in FY22

Sensex, Nifty live updates: Yes Securities maintains BUY recommendations for Stylam Industries Ltd

Reco : BUY

CMP : Rs 1,060

Target Price : Rs 1,534

Potential Upside : +45%

Stock market live updates: Mphasis Ltd announces Q3 results

New TCV wins of USD 401 million in Q3 FY23 in Direct, 2nd highest on record, of which 74% in new generation services. Five large deal wins in Q3 FY23, which is highest ever on record to date; FYTD TCV wins is over USD 1 billion

Stock market live updates: Mphasis ltd announces Q3 results

Direct revenue remained flat QoQ and grew 15.1% YoY on a reported basis. In constant currency, revenue declined 2.8% QoQ and grew 6.4% YoY

Stock market live updates: Mphasis Ltd announces Q3 results

Net profit declined 1.5% QoQ and grew 15.3% YoY to Rs 4,123 million in Q3 FY23. EPS declined 1.6% QoQ and grew 14.7% YoY to Rs 21.9 in Q3 FY23. Gross revenue grew 0.2% QoQ and 14.2% YoY on a reported basis. In constant currency, revenue declined 2.5% QoQ and grew 5.7% YoY

Stock market live updates: Mphasis ltd announces Q3 results

Mphasis Limited, an Information Technology (IT) solutions provider specializing in cloud and cognitive services, today announced its financial results for the third quarter ended 31st December 2022

Stock market live updates: Crude oil prices rise

Elsewhere, crude oil prices continued to rise. Brent futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel, while U.S. crude advanced 54 cents to $80.87 per barrel, a 0.7% gain

Equivalent JGB yields were flat at 0.405%, holding around that level since getting knocked back from above the BOJ’s 0.5% policy ceiling on Wednesday

The benchmark 10-year Treasury yield was around 3.4% after bouncing off the lowest since mid-September at 3.321% overnight

Stock market live updates: Currency basket update

The dollar index, which measures the greenback against six peers, including the euro and yen, was little changed at 102.10, holding close to a 7 1/2-month low of 101.51, reached on Wednesday

Stock market live updates: Selloff on Wall Street overnight

Asian markets showed some resilience despite a selloff on Wall Street overnight, with the S&P 500 losing 0.76%. E-Mini futures indicated a small bounce at the reopen though, gaining 0.24%.

Hong Kong’s Hang Seng advance 620.75% and mainland blue chips were 0.32% firmer

Stock market live updates: Nikkei trades higher 

Japan’s Nikkei added 0.16%, while Australia’s benchmark edged 0.09% higher, although South Korea’s Kospi slipped 0.24%

Stock market live updates: Asian equity markets edge higher 

Most Asian equity markets edged higher on Friday, while the U.S. dollar hung near its weakest level since May, with investors fretting about the risks of a global recession as the Federal Reserve presses on with interest rate increases