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A lot of scope in Hindalco: Prabhudas Lilladher's Amisha Vora
Amisha Vora, Joint MD at Prabhudas Lilladher, believes Hindalco is well placed with a good part of its Novelis business being largely conversion-based, where usage is increasing substantially. "I think this stock still has a lot of scope to appreciate and results are one milestone in that journey. But still, it will continue to do pretty well on both the Novelis per tonne EBITDA as well as domestic fronts," he said.
Not comfortable investing in Nykaa, Zomato: Vijay Chopra
Vijay Chopra of Enochventures.com is not comfortable investing in Nykaa or Zomato. "We have mentioned companies like Petronet LNG, Tata Steel and JSW Steel, a lot of good packaging companies, Jindal Poly, companies like Uflex... There are great companies trading at 5-7 price-earnings ratios. This is something which a new investor should look at," he said.
"I would recommend that if at all, they are holding, book profits and get into safer havens. I would recommend an ITC at these levels which can give a lot of stability and some of the companies which I have mentioned. I would recommend Sarda Energy or Jindal Poly, or great companies that are below 10 PE. Look for such companies with good earnings and low PE, where the price has not run up, and look for safer bets," he said.
Long-term investors can hold Tata Steel shares: Equity99's Rahul Sharma
Rahul Sharma of Equity99 Advisors believes long-term investors can continue to hold Tata Steel shares now. "Although we have seen that it has gone almost double from last 6-7 months, it is possible that it will consolidate more from the current levels. But there is no problem at all for the long term as the outlook is very much positive. If at all, one is looking at it as a short-term trade, I would have advised a stop loss of Rs 1,225," he said.
Time to exit Petronet LNG now: Equity99's Rahul Sharma
Rahul Sharma, Market Strategist and Head of R&D at Equity99 Advisors, said Petronet LNG has been consolidating, and not given the kind of movement that other stocks have given. "I think one should exit from Petronet LNG and switch into better trending stocks and maybe like Motilal Oswal, Parag Milk or Oberoi Realty. These are counters that can give good returns in the coming days compared to Petronet LNG," he said.
Market At Close | Hindalco rises, Tata Steel slips after Q2 results
--43 of 50 Nifty stocks rise; Tech Mahindra, Hindalco, Wipro top gainers
--Nifty Bank gains 173 points to 38,733; midcap index rises 144 points to 31,926
--Hindalco rises, Tata Steel slips following Q2 earnings
--Bajaj Auto top Nifty loser on reports of Egypt banning import of three-wheelers
--Bharti Airtel continues to gain momentum, approaches record high
--Nifty IT top performing index, led by Tech Mahindra, Wipro, Infosys
--Vodafone Idea surges 4% as quarterly loss narrows
--Weak Q2 leads to fall of over 3% in Godrej Consumer Products
--Indiabulls Housing, REC, GMR Infra, Piramal, TVS, India Cements top midcap losers
--Improved aviation demand helps indigo gain 8%
--ICICI Pru, L&T Info, Escorts, Strides, Info Edge, Cholamandalam Investment top midcap gainers
--Motherson Sumi rises, Bharat Forge falls after Q2 results
--Market breath neutral; advance-decline ratio at 1:1
Closing Bell | Sensex up 767 points at 60,687, Nifty50 reclaims 18,100
Both Sensex and Nifty50 rose 1.3 percent at the close, recovering all of the losses in the past three days. The 30-scrip index added 767 points to end at 60,686.7 and the broader Nifty50 benchmark settled at 18,102.8, up 229.2 points from its previous close. Gains across sectors, led by IT, financial and oil & gas shares, lifted the headline indices. (Read more on the closing bell)
Vodafone Idea Q2 | Net loss narrows to Rs 7,132.3 crore
The private sector telecom company reported a consolidated net loss of Rs 7,132.3 crore for the July-September period, as against Rs 7,319.1 crore for the previous quarter. Consolidated revenue increased 2.8 percent sequentially to Rs 9,406.4 crore.
The company's average revenue per user (ARPU) stood at Rs 109 in Q2, as against Rs 104 in Q1.
Vodafone Idea shares traded 4.3 percent higher at Rs 10.3 apiece on BSE before the close. (Read more on Vi quarterly results)
Hindalco Q2 | Net profit increases nearly nine times to Rs 3,417 crore, revenue jumps 53%
Aditya Birla group company Hindalco reported a consolidated net profit of Rs 3,417 crore for the quarter ended September. The company's net profit for the corresponding period a year ago had stood at Rs 387 crore. Its consolidated revenue came in at Rs 47,665 crore for the three months to September 30, an increase of 52.6 percent on a year-on-year basis.
Hindalco shares extended intraday gains after the earnings announcement. At 2:45 pm, the stock was up 3.6 percent at Rs 470 apiece on BSE. The 30-scrip Sensex index was up 1.3 percent at the time, on track to break a three-day losing spree. (Read more on Hindalco Q2 results)
Godrej Consumer Products to take 10-11% price hike for remainder of FY22
Godrej Consumer Products will take a price hike to the tune of 10-11 percent for the rest of the year, CFO Sameer Shah told CNBC-TV18. His remarks come a day after the Mumbai-based consumer goods company reported lower-than-expected earnings for the quarter ended September. (Read more on what the Godrej Consumer Products management said)
Bharat Forge Q2 | Net profit at Rs 270.4 crore; revenue up 73%, meets Street estimates
Bharat Forge reported a net profit of Rs 270.4 crore for the quarter ended September, as against a net loss of Rs 1.3 crore for the corresponding period a year ago. Revenue grew 73.4 percent on a year-on-year basis to Rs 2,385.6 crore.
Analysts in a CNBC-TV18 poll had estimated the company's net profit at Rs 276 crore over revenue of Rs 2,370 crore.