As per the provisional closing data, the barometer index, the S&P BSE Sensex, declined 433 points or 0.72% at 59,919.67. The Nifty 50 index lost 143.6 points or 0.8% to close at 17,873.15.
Broader markets suffered losses as well. The S&P BSE Mid-Cap index fell 0.52% while the S&P BSE Small-Cap index slipped 0.45%.
Sellers outnumbered buyers. On the BSE, 1,443 shares rose and 1,849 shares fell. A total of 153 shares were unchanged.
Primary Market:
The initial public offer (IPO) of Sapphire Foods India received bids for over 5.22 crore shares as against 96.63 lakh shares on offer on Thursday (11 November 2021), according to stock exchange data. The issue was subscribed 5.4 times.
Sapphire foods is one of YUM's franchisee operators in the Indian subcontinent. Company is also Sri Lanka's largest international QSR chain in terms of revenue for the financial year 2021 as also number of restaurants operated as of 31 March 2021. The IPO opened for bidding on Tuesday, 9 November and it will close on 11 November. The price is set at Rs 1120 to Rs 1180.
The initial public offer (IPO) of Latent View Analytics received bids for 31.34 crore shares as against 1.75 crore shares on offer, according to stock exchange data on Thursday (11 November). The issue was subscribed 17.88 times.
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The issue opened for bidding on 10 November 2021 and it will close on 12 November 2021. The price band of the IPO is fixed at Rs 190-197. An investor can bid for a minimum of 76 equity shares and in multiples thereof. Ahead of the IPO, Latent View Analytics on 9 November 2021 finalized allocation of 1,35,53,898 equity shares to anchor investors at Rs 197 per share, aggregating to Rs 267.01 crore.
Earnings Impact:
Pidilite Industries rose 4.53% to Rs 2450.30 after the adhesives maker recorded 5% rise in consolidated net profit to Rs 376 crore on a 41% increase in net sales to Rs 2,613 crore in Q2 FY22 over Q2 FY21. EBITDA before non-operating income in the second quarter was at Rs 550 crore, up by 7% over the same quarter last year. Profit before tax and exceptional items (PBT) in Q2 FY22 was at Rs 492 crore, higher by 3% as compared with the same quarter last year.
Zomato gained 4.83%. On a consolidated basis, the company reported a net loss of Rs 434.90 crore in Q2 FY22 as compared to a net loss of Rs 229.80 crore in Q2 FY21. Consolidated net sales surged 140.40% to Rs 1,024.20 crore in Q2 FY22 over Q2 FY21.
Godrej Consumer Products declined 2.83%. The FMCG company (GCPL) reported 4.6% rise in consolidated net profit to Rs 478.89 crore on an 8.5% increase in revenue from operations to Rs 3,163.65 crore in Q2 FY22 over Q2 FY21. On the segmental front, India revenue was Rs 1,838.14 crore (up 9.5% YoY), Indonesia revenue was Rs 444.93 crore (down 0.2% YoY), Africa revenue was Rs 748.54 crore (up 14.8% YoY) and revenue from Others was Rs 173.72 crore (down 4.2% YoY) in the second quarter.
CRISIL surged 9.62% after the company's consolidated net profit rose 25.08% to Rs 112.86 crore on 17.73% rise in income from operations to Rs 570.96 crore in Q3 September 2021 over Q3 September 2020. On a consolidated basis, profit before tax rose 32.52% year-on-year to Rs 151.23 crore during the quarter.
Birla Corporation fell 4.33% after the company's consolidated net profit declined 48.66% to Rs 85.55 crore on 2.64% rise in net sales to Rs 1697.84 crore in Q2 FY22 over Q2 FY21. The company said that profitability was impaired by severe operational headwinds in all key markets and a surge in expenses. On a consolidated basis, profit before tax fell 49.51% year-on-year to Rs 119.18 crore. EBITDA fell 30.54% to Rs 281 crore during the period under review.
Dhampur Sugar Mills fell 5.16% after the company's consolidated net profit declined 6.78% to Rs 26.25 crore on 18.12% decrease in net sales to Rs 762.55 crore in Q2 FY22 over Q2 FY21 On a consolidated basis, profit before tax fell 5.29% Rs 35.11 crore in Q2 FY22 over Q2 FY21. During the quarter, raw material cost increased 74% YoY to Rs 61.48 crore. The board approved expansion of distillery capacity by 150 KLPD (incl. 50 KLPD from Grain) at Dhampur unit in Uttar Pradesh from 250 KLPD to 400 KLPD. The board also approved installation of country liquor plant at Asmoli unit in Uttar Pradesh.
TVS Srichakra rose 0.63%. The company reported 36.5% fall in consolidated net profit to Rs 25.31 crore on a 24.5% rise in revenue from operations to Rs 687.51 crore in Q2 FY22 over Q2 FY21. Total expenses during the quarter increased by 31% YoY to Rs 654.23 crore, due to higher raw material costs (up 44.5% YoY) and higher other expenses (up 97.1% YoY). Profit before tax in Q2 FY22 stood at Rs 33.99 crore, down by 36.6% from Rs 53.62 crore in Q2 FY21.
Thermax surged 14.47% after the company's consolidated net profit surged 183% to Rs 88 crore in Q2 FY22 from Rs 31 crore in Q2 FY21. Consolidated operating revenue increased by 29% to Rs 1,469 crore in the second quarter of FY 2021-22 from Rs 1,141 crore in the corresponding quarter last year. Thermax said that exceptional items impacted the results last year on account of voluntary retirement scheme, impairment of certain assets of Boilerworks A/S and provision for closure of German subsidiary claims, totaling to Rs 24.65 crore. As on 30 September 2021, order booking for the quarter was 67% higher at Rs 1,856 crore as compared with Rs 1, 114 crore recorded in the corresponding quarter last year, which was impacted due to the COVID-19 pandemic. Thermax Group had an order balance of Rs 6,516 crore, up 26% Y-o-Y.
Narayana Hrudayalaya rose 3.24% after the company posted a consolidated net profit of Rs 99.34 crore in Q2 FY22 as against a loss of Rs 3.42 crore reported in Q2 FY21. Net sales increased by 56.5% to Rs 940.28 crore in Q2 FY22 from Rs 600.73 crore posted in Q2 FY21. The company posted a profit before tax of Rs 116.24 crore in Q2 FY22 as against a pre-tax loss of Rs 29.54 crore registered in the same quarter last year. Consolidated EBITDA stood sharply higher at Rs 181 crore in Q2 FY22 as against Rs 37.2 crore posted in Q2 FY21. EBITDA margin stood at 19.3% in Q2 FY22.
Affle (India) jumped 5.72% after the company's consolidated net profit jumped 77.2% to Rs 47.82 crore on a 103.6% surge in net sales to Rs 274.70 crore in Q2 September 2021 over Q2 September 2020. On a consolidated basis, EBITDA grew 51.1% to Rs 52.10 crore in Q2 FY22 from Rs 34.50 crore in Q2 FY21. EBITDA margin stood at 19% in Q2 FY22 as against 25.5% in Q2 FY21. Profit margin was at 16.4% in Q2 FY22 as compared to 19.7% in Q2 FY21.
Metropolis Healthcare lost 3.37% after the company's consolidated net profit fell 3.5% to Rs 58.40 crore on a 4.9% increase in net sales to Rs 302.62 crore in Q2 September 2021 over Q2 September 2020. EBITDA (before CSR and ESOP) fell 1.79% to Rs 93.20 crore (with a margin of 30.8%) in Q2 September 2021 as against Rs 94.90 crore in Q2 September 2020. Reported PAT margin was at 19.3% in Q2 FY22 over 21% in Q2 FY21.
Global Markets:
European markets traded higher while most Asian stocks advanced on Thursday. The latest U.S. inflation data which showed faster-than-expected price rises.
Prices for U.S. consumers inflation jumped 6.2% in October compared with a year earlier as surging costs for food, gas and housing left Americans grappling with the highest inflation rate since 1990. The year-over-year increase in the consumer price index exceeded the 5.4% rise in September, the Labor Department reported Wednesday.
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