*Bulk Deals*

Angel Broking: Kuwait Investment Authority acquired 4.3 lakh shares (0.53%) at Rs 321.73 per share.

MCX: Smaller Cap World Fund acquired 5.32 lakh shares (1.04%) at Rs 1,759.93 per share.

Majesco: Promoter Sudhakar Ram sold 5 lakh shares (1.67%) at Rs 919 per share.

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*Pledged Share Details*

JSW Steel: Promoter Danta Enterprises revoked pledge of 26 lakh shares on October 26.

Max Financial Services: Promoter Max Venture Investment Holdings created pledge of 9.35 lakh shares on October

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*Economic Times*
*Business Standard*

Ø  India's April-Sept fiscal deficit at Rs 9.1 lakh crore
Ø  US economy surges 33.1% in Q3, biggest gain on record: Govt
Ø  ServiceNow says India among its fastest growing markets
Ø  Centre proposes mandating license for foreign vessels engaged in coastal shipping in India
Ø  JBIC signs loan agreements totaling Rs 11,000 crore to support Indian Industry
Ø  Shapoorji Pallonji Group submits plan to Supreme Court for separation from Tata Group
Ø  Mahindra Electric eyes investment, bulk deals with e-commerce companies
Ø  US hints at possibility of reducing trade, investment barriers with India
Ø  BPCL Q2 net profit jumps 58% to Rs 2,589.52 cr due to lower expenses
Ø  Cognizant net profit falls 30% to $348 mn in Q3; revenue flat at $4.2 bn
Ø  US pitches cheaper solar tech to India amid high dependence on China
Ø  IMF tells Britain to keep spending to fend off coronavirus crisis
Ø  SFIO searches Sahara's office in Lucknow, probe against group widens
Ø  KKR launches platform to acquire renewable energy assets in India

*Business Line*
*Mint*

Ø  Core sector contraction narrows to 0.8% in Sept
Ø  Pidilite Industries acquires Araldite maker for ₹2,100 crore
Ø  TVS Motor Company posts ₹196 crore net in Q2
Ø  MCX Q2 net profit slips 18 per cent to Rs 58.55 crore
Ø  Procter & Gamble sets up ₹400-crore India Growth Fund
Ø  Laurus Labs’ Q2 net zooms to ₹242 crore
Ø  US jobless claims aid fall to 751,000, virus resurges
Ø  SmallCap World Fund bought 1.04% stake in MCX for ₹94 crore
Ø  RBI to conduct second OMO purchase of SDLs next month
Ø  ICICI Prudential Life to raise ₹1,200 crore
Ø  BlackRock is defying stock chaos to launch small-cap value ETF
Ø  Vodafone Idea Q2 net loss narrows to ₹7,218 crore; Arpu rises

*Financial Express*
*Deccan Chronicle*

Ø  Govt approves mandatory packaging of food grains in jute bags
Ø  Samsung India expects 40% growth in smartphone segment in Q4
Ø  IndiGo posts Rs 1,194 cr loss for September quarter
Ø  RBI imposes Rs 22 lakh fine on DCB Bank for violating marketing norms
Ø  Bidding process of Air India’s divestment would be on enterprise value, says Hardeep Singh Puri

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*SGX Nifty -35 pts (11635) from last trade 11670 ,*


Nikkei -171 pts ,
Hangseng -51 pts ,
Now @6.52am .


Dow +139.16 pts ,Nsdq +180.83 pts, S&P +39.08 pts , Bovespa +1213 pts  , Ftse -1 pts , Dax +37 pts , Cac -1 pts , Crude @ $36.17 brl (+0.00), Brent @ $37.65 brl (-0.00) , Gold @ 1868.90 (+0.90), Silver @ $23.37 (+0.01), Euro @ $1.1368, JPY @ $104.53, INR @ 74.375




*Today's Corporate Action*

*30th Oct Ex Date*



None






*Today's Board Meetings*

*30-Oct-20*



ADORMUL

Quarterly Results

AGRITECH

Quarterly Results

AMJLAND

Quarterly Results

ARFIN

Quarterly Results

AROGRANITE

Audited Results

ARVSMART

Quarterly Results

BLSINFOTE

Quarterly Results

COMPUPN

Quarterly Results

COMPUSOFT

General;Quarterly Results

CONTILI

Quarterly Results

DAAWAT

Interim Dividend;Quarterly Results

DEEPAKNI

Quarterly Results

DHANUKA

Quarterly Results

DIXON

Employees Stock Option Plan;Quarterly Results

DLF

Quarterly Results

DNAMEDIA

Quarterly Results

DRAGARWQ

Quarterly Results

EDELWEISS

General;Quarterly Results

EIMCOELECO

Quarterly Results

EMKAY

Quarterly Results

ESCORTSFIN

Quarterly Results

GOTHIPL

Quarterly Results

GREENPANEL

Quarterly Results

GRINDWELL

Quarterly Results

HIGHSTREE

Quarterly Results

IFBIND

Quarterly Results

INDORAMA

Quarterly Results

INDUSINDBK

Quarterly Results

INTELLECT

Quarterly Results

IOC

General;Quarterly Results

IRBINVIT

Quarterly Results

JAYBARMARU

Quarterly Results

JENBURPH

Quarterly Results

JINDALSTEL

Quarterly Results

JSL

Quarterly Results

JUSTDIAL

General;Quarterly Results

KASHYAP

Quarterly Results

KELENRG

Quarterly Results

KIRLOSENG

Quarterly Results

MAGNAELQ

Quarterly Results

MAHLIFE

Quarterly Results

MAHLOG

General;Quarterly Results

MARALOVER

Quarterly Results

MEGASOFT

Quarterly Results

MFSL

Quarterly Results

MILEFUR

General

MOTILALOFS

Quarterly Results

NECLIFE

General;Quarterly Results

NIITLTD

Quarterly Results

NUCLEUS

Audited Results

ORACLECR

Quarterly Results

PANAFIC

Audited Results

PASARI

Quarterly Results

PIONDIST

Quarterly Results

PITTIENG

Quarterly Results

PREMCAPM

Quarterly Results

PTCIL

Quarterly Results

QUESS

Quarterly Results

RAIN

Interim Dividend;Quarterly Results

RELIANCE

Quarterly Results

RISHIROOP

Quarterly Results

RPGLIFE

Quarterly Results

SHREEGANES

Quarterly Results

SIPTL

General;Quarterly Results

SOLARA

Quarterly Results

SRAMSET

Quarterly Results

STANROS

Quarterly Results

SUNCLAYLTD

Quarterly Results

SUNTECHNO

Quarterly Results

SUVENPHAR

Quarterly Results

SWOEF

A.G.M.

SYSCHEM

Quarterly Results

TATIAGLOB

General

TECHIN

Quarterly Results

TOKYOFIN

Quarterly Results

TOKYOPLAST

Quarterly Results

TRANSCOR

General;Quarterly Results

UPL

Quarterly Results

VAKRANGEE

Quarterly Results

VOITHPAPR

General;Quarterly Results

VTMLTD

General;Quarterly Results

WELCON

Quarterly Results

ZEEMEDIA

General;Quarterly Results





*Stock under F&O ban on NSE*

*30-Oct-20*



None


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Data - 30th Oct

FIIs sold in cash & rolled 70% in index futs👀

Despite recent correction it was great expiry & Nifty has seen long rolls👍

BN rally started with SC but later there were LF👍

Short rolls - RELIANCE, SUNPHARMA, UPL👎

Long rolls - INFY, ASIANPAINT, KOTAKBANK👍

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*Tata Chemicals Ltd.* | *CMP* Rs. 326 | *M Cap* Rs. 8306 Cr | *52 W H/L* 346/197
(Nirmal Bang Retail Research)
*Result is below expectations*
Revenue from Operations came at Rs. 2609.4 Cr (11.1% QoQ, -5.8% YoY) vs expectation of Rs. 2541.1 Cr, QoQ Rs. 2348.2 Cr, YoY Rs. 2771.3 Cr
EBIDTA came at Rs. 386.3 Cr (7.4% QoQ, -31.1% YoY) vs expectation of Rs. 446.9 Cr, QoQ Rs. 359.8 Cr, YoY Rs. 560.7 Cr
EBITDA Margin came at 14.8% vs expectation of 17.6%, QoQ 15.3%, YoY 20.2%
Adj. PAT came at Rs. 70.5 Cr vs expectation of Rs. 91.9 Cr, QoQ Rs. 13.3 Cr, YoY Rs. 285.3 Cr
Quarter EPS is Rs. 2.8
Share is trading at P/E of 8.7x FY22E EPS

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*Havells India Concall*
*Outlook: Positive but valuation at peak*
Share is trading at PE of 54x FY22
Prohibition of AC import is positive for Lloyd
Contribution margin is sustainable where as some expenses increase like advertisement will come back
Some RM cost increase is visible which company might have to pass on
Recovery seen in Q2 is expected to sustain
Company is going deeper into rural market
Industrial and Infra continue to de grow whereas Retail and housing demand grew faster
25% of sales is to Infra and industrial and reached to 85% of last year. Further improvement is seen in current quarter
Inventory level in trade is lower than normal
Consumer lighting grew by 15% whereas overall lighting grew by 4%
No Employee cost cut taken and company will give increment
Expenses will take time to go up to normal level which may be lower than pre covid level
Company saw major increase of around 100% in E commerce sales at its around 4% of total sales Profitability is similar
Lloyd growth is on smaller base future growth will depend on market condition
Company want to have complete portfolio of consumer durable in Lloyd and company has launched Refrigerator and washing machine
Margin in Lloyd will improve over a period of time and major benefit will be seen in next season

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*Mangalore Refinery & Petrochemicals Ltd.* | *CMP* Rs. 28 | *M Cap* Rs. 4907 Cr | *52 W H/L* 57/21
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 6066.9 Cr (38.4% QoQ, -53.2% YoY) vs QoQ Rs. 4382.8 Cr, YoY Rs. 12969.9 Cr
EBIDTA came at Rs. 333.9 Cr (-156.2% QoQ, -151.7% YoY) vs QoQ Rs. -594.4 Cr, YoY Rs. -646 Cr
EBITDA Margin came at 5.5% vs QoQ -13.6%, YoY -5%
Adj. PAT came at Rs. 9.4 Cr vs QoQ Rs. -719.8 Cr, YoY Rs. -864.2 Cr
Quarter EPS is Rs. 0.1
Share is trading at P/E of 4.4x FY22E EPS

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*Vaibhav Global Ltd.* | *CMP* Rs. 1857 | *M Cap* Rs. 6035 Cr | *52 W H/L* 1999/476
(Nirmal Bang Retail Research)
*Result good*
Revenue from Operations came at Rs. 598.8 Cr (8.8% QoQ, 23.4% YoY) vs QoQ Rs. 550.4 Cr, YoY Rs. 485.2 Cr
EBIDTA came at Rs. 95.8 Cr (30.3% QoQ, 44.4% YoY) vs QoQ Rs. 73.5 Cr, YoY Rs. 66.3 Cr
EBITDA Margin came at 16% vs QoQ 13.4%, YoY 13.7%
Adj. PAT came at Rs. 70.6 Cr vs QoQ Rs. 52.9 Cr, YoY Rs. 49 Cr
Quarter EPS is Rs. 21.7
Share is trading at P/E of 26.4x TTM EPS

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*Blue Dart Express Ltd.* | *CMP* Rs. 3245 | *M Cap* Rs. 7691 Cr | *52 W H/L* 3450/1822
(Nirmal Bang Retail Research)
*Result has improved*
Revenue from Operations came at Rs. 866.4 Cr (108.2% QoQ, 8% YoY) vs QoQ Rs. 416.2 Cr, YoY Rs. 802.2 Cr
EBIDTA came at Rs. 228.6 Cr (-637.3% QoQ, 80.7% YoY) vs QoQ Rs. -42.5 Cr, YoY Rs. 126.5 Cr
EBITDA Margin came at 26.4% vs QoQ -10.2%, YoY 15.8%
Adj. PAT came at Rs. 42.3 Cr vs QoQ Rs. -125.8 Cr, YoY Rs. 14.6 Cr
Quarter EPS is Rs. 17.9
Share is trading at P/E of 98.4x FY22E EPS

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*Aegis Logistics Ltd.* | *CMP* Rs. 215 | *M Cap* Rs. 7424 Cr | *52 W H/L* 267/107
(Nirmal Bang Retail Research)
*Result inline*
Revenue from Operations came at Rs. 650.4 Cr (2.2% QoQ, -64.2% YoY) vs expectation of Rs. 1446 Cr, QoQ Rs. 636.4 Cr, YoY Rs. 1817.7 Cr
EBIDTA came at Rs. 102.3 Cr (51.9% QoQ, -19.1% YoY) vs expectation of Rs. 111.4 Cr, QoQ Rs. 67.4 Cr, YoY Rs. 126.4 Cr
EBITDA Margin came at 15.7% vs expectation of 7.7%, QoQ 10.6%, YoY 7%
Adj. PAT came at Rs. 57 Cr vs expectation of Rs. 70 Cr, QoQ Rs. 29.8 Cr, YoY Rs. 113.1 Cr
Quarter EPS is Rs. 1.7
Share is trading at P/E of 17.6x FY22E EPS

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*TVS Motor Company Ltd.* | *CMP* Rs. 423 | *M Cap* Rs. 20097 Cr | *52 W H/L* 503/240
(Nirmal Bang Retail Research)
*Result is ahead of expectations*
Revenue from Operations came at Rs. 4605.5 Cr (221.7% QoQ, 5.9% YoY) vs expectation of Rs. 4476.8 Cr, QoQ Rs. 1431.7 Cr, YoY Rs. 4347.8 Cr
EBIDTA came at Rs. 430.1 Cr (-981% QoQ, 12.6% YoY) vs expectation of Rs. 360.9 Cr, QoQ Rs. -48.8 Cr, YoY Rs. 382 Cr
EBITDA Margin came at 9.3% vs expectation of 8.1%, QoQ -3.4%, YoY 8.8%
Adj. PAT came at Rs. 196.3 Cr vs expectation of Rs. 157.7 Cr, QoQ Rs. -139.1 Cr, YoY Rs. 179 Cr
Quarter EPS is Rs. 4.1
Share is trading at P/E of 30.2x FY22E EPS

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*Welspun India Ltd.* | *CMP* Rs. 74 | *M Cap* Rs. 7435 Cr | *52 W H/L* 76/18
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 1973.7 Cr (64.2% QoQ, 8.2% YoY) vs QoQ Rs. 1201.8 Cr, YoY Rs. 1824.9 Cr
EBIDTA came at Rs. 385.9 Cr (72.4% QoQ, -1.4% YoY) vs QoQ Rs. 223.9 Cr, YoY Rs. 391.3 Cr
EBITDA Margin came at 19.6% vs QoQ 18.6%, YoY 21.4%
Adj. PAT came at Rs. 179.7 Cr vs QoQ Rs. 49.1 Cr, YoY Rs. 198.5 Cr
Quarter EPS is Rs. 1.8
Share is trading at P/E of 13x FY22E EPS

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World Markets

Dow + 139
Nasdaq + 181
Dax + 38
Nikkei - 174
Hangseng - 121
Sgxnifty - 32 (11643)
Brent Crude 38.45
Dow Fut - 172

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*ET NOW BROKERAGE RADAR*
CLSA ON MARUTI
Maintain SELL , Target at 6300/share
Profitability improvement lags peers
Strong volume growth but a weak mix
gross profit/vehicle declined despite lower discounts
Management gearing up for strong demand in the near term

GS ON HERO MOTORS
Maintain SELL , Target at 2463/share
Festive trends don’t reflect the demand optimism
Expect Oct’20 dispatches to be elevated given management optimism
Reiterate Sell as , Stock trading at 13.5x FY22E EV/EBITDA

GS ON MARUTI
Maintain BUY , Target at 8006/share
2QFY21 in-line; emerging stronger from the pandemic
Factors bode well for Maruti’s market share,
Maruti Suzuki emerging stronger from this pandemic

JP MORGAN ON INTERGLOBLE
Maintain Neutral for Indigo post results
Streamlining operations well amidst low demand
Loss better than estimates due to better cost management
Yields benefited from charter flights,
Increase FY22 EPS by 8% to 55

GS ON INDIGO
Maintain BUY , Target at 1500/share
Lower cash burn, B/S strength maintained
Raise FY21-FY23 estimates by 7.9%/7.5%/7%
Implies stock trading on a EV/EBITDAR multiple of implying 8x

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Thursday Rollover (NB RESEARCH)

Nifty Highlights:

The Nifty Oct expiry rollover is at 77.45% on Thursday compared to 70.63% on same day of previous expiry.

The Banknifty Oct expiry rollover is at 73.59% on Thursday compared to 79.05% on same day of previous expiry.

The Market wide Oct expiry rollover is at 92.85% on Thursday as compared to 89.03% on same day of previous expiry.

The Nifty Oct rollover is lower than its Three months average of 78.76% and higher than its six months average of 75.67%.

The Banknifty Oct rollover is lower than its Three months average of 76.6% and its six months average of 79.26%.

The market wide rollover is higher than its three months average of 89.94% and its six months average of 90.36%.

Sector Highlights:

Fertilisers, Infrastructure, Technology, FMCG and Automobile sectors witnessed higher rollovers compared to same day of previous expiry.

Telecom, Cement, Metals, Pharma and Power sectors witnessed lower rollovers compared to same day of previous expiry.

Highest rollover in current expiry: Infrastructure, Banking, Media, Realty and Fertilisers.

Lowest rollover in current expiry: Telecom, Metals, Technology, Power and Oil_Gas.

Stock Highlights:

HINDUNILVR, IBULHSGFIN, APOLLOTYRE, INFY and GMRINFRA saw higher rollovers compared to same day of previous expiry.

BOSCHLTD, LUPIN, COFORGE, NMDC and CHOLAFIN saw lower rollovers compared to same day of previous expiry.

Higher percentage rollover in current expiry: BOSCHLTD, GRASIM, HDFCLIFE, ICICIBANK and ADANIPORTS.

Lower percentage rollover in current expiry: PETRONET, NMDC, COFORGE, LUPIN and IDEA.

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Trading Tweaks

Price Band Revised From 20% To No Band: ICICI Lombard General Insurance.

Record Date For Share Buyback: KIOCL

Move Into ASM Framework: Globus Spirits.

Move Into Short Term ASM Framework: GE Power.

Move Out Of Short Term ASM Framework: Borosil Remewables.

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Money Market Update

The currency closed at 74.11 against the U.S. Dollar, as compared to Wednesday's close of 73.87.

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