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Research Periodic Report Q2 Profits Drive Stock Gains for Kalpataru, JSW Infra, and Bharat Electronics

Q2 Profits Drive Stock Gains for Kalpataru, JSW Infra, and Bharat Electronics

Written by - Fisdom Research

October 29, 2024 2 minutes

Market Snapshot

  • Indian benchmark indices extended gains for a second consecutive session on October 29, with the Nifty closing above 24,450, driven by realty and financial stocks.
  • Sector-wise, banking and realty indices led the gains, while auto and pharma stocks saw corrections.
  • Mid and small-cap stocks outperformed the frontline index, reflecting strong interest in broader markets.
  • Among sectoral performances, banking, realty, power, and capital goods gained 1-2%, while pharma, IT, and auto declined by 0.5-1%.

Sectoral Trends

Sector Name % Change Sector Name % Change
NIFTY PSU BANK 3.6 NIFTY REALTY 1.4
NIFTY FINANCIAL SERVICES 2.1 NIFTY CONSUMER DURABLES 0.7
NIFTY BANK 2.1 NIFTY METAL 0.7
NIFTY PRIVATE BANK 1.5 NIFTY OIL & GAS 0.3

Technical Outlook: Key Indices

Indices Name Support Resistance
Nifty 24,000 24,500-24,700
Bank Nifty 50,400 51,500-51,700

Top News

  • Kalpataru Projects International jumped 7% after posting a nearly 40% YoY rise in net profit to Rs 125.6 crore for Q2, driven by a strong order book and improved EBITDA margin of 6.9%.
  • JSW Infra surged up to 10% as Q2 net profit rose 46% YoY to Rs 372 crore, with revenue up 18% and EBITDA margin expanding to 67.5%.
  • Bharat Electronics gained 5% after beating earnings estimates in Q2 with a 34% rise in net profit to Rs 1,091.27 crore, supported by a solid order book and strong EBITDA margin of 30.4%.
  •  Afcons Infrastructure IPO receives 51% subscription on Day 2
  • Swiggy sets price band between Rs. 371-390

Trade Ideas Update

  • Our trade ideas success rate has 66% over the past month, even with increased volatility in the benchmark index. Follow Trade Ideas for timely stock insights.

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