Markets in a Minute | 14th to 18th Oct

In recent developments, Hyundai Motor India’s IPO has closed after being subscribed 2.37 times, with retail investors contributing 0.50 times. The government has approved a ₹2,642 crore rail-road bridge over the Ganga to expand the railway network in Uttar Pradesh. India’s trade deficit narrowed to $20.8 billion in September, while inflation rose to 5.49%.

Vehicle sales saw mixed results, with passenger vehicle sales down 1%, but 2-wheeler sales rising 16%. Meanwhile, HCL Tech, HAL, and HDFC Life reported strong financial performances, and JSW Infra secured a new port development contract in Maharashtra.

Market Headline

• Hyundai Motor India IPO: Subscribed 2.37 times overall, with retail subscription at 0.50 times. It is now closed for subscription.
• New Rail-Road Bridge: The government approved a ₹2,642 crore rail-road bridge over the Ganga, passing through Varanasi and Chandauli districts in UP. This will expand the railway network by 30 km.
• India’s Trade Deficit: The trade deficit narrowed to $20.8 billion in September (down from $29.7 billion in August). Exports were slightly down at $34.58 billion, and imports fell to $55.36 billion: Commerce Ministry.
• Inflation: India’s annual inflation rose to 5.49% in September (from 3.65% in August). Urban inflation was 5.05%, while rural inflation hit 5.87%: MoSPI.
• Vehicle Sales: Domestic passenger vehicle sales fell 1% year-on-year to 3.57 lakh units in September. However, 2-wheeler sales grew 16%, and 3-wheeler sales rose 7%: SIAM.

Stock Updates

• HCL Tech: Net profit rose 10.52% year-on-year to ₹4,235 crore in July-Sept. Dividend declared: ₹12 per share, record date: 22 Oct.
• HAL: Granted 'Maharatna' status by the Ministry of Finance.
• JSW Infra: Awarded a contract by Maharashtra Maritime Board to develop and operate an all-weather, multipurpose port in Palghar, Maharashtra, through a public-private partnership (PPP).
• Reliance: Net profit fell 4.78% year-on-year to ₹16,563 crore in the July-Sept quarter.
• HDFC Life: Net profit increased 15.07% year-on-year to ₹435.18 crore in the July-Sept quarter.
• Bank of Maharashtra: Net profit jumped 44.25% to ₹1,327 crore. Net interest income grew 15.41% to ₹2,807 crore.
• Adani Enterprises: Raised ₹4,200 crore via Qualified Institutional Placement (QIP).
• L&T: Received a 'significant' order from UP Metro Rail Corporation to develop 2 phases of Agra metro, with order value estimated between ₹1,000 crore to ₹2,500 crore.
• Bajaj Auto: Net profit dropped 31.42% year-on-year to ₹1,385.44 crore in July-Sept. Approved ₹84 crore investment in its subsidiary, Bajaj Brazil.
• Godrej Properties: Won an auction for 6.54 acres of land in Navi Mumbai, planning a premium residential project with revenue potential of ₹3,500 crore.
• Oberoi Realty: Board approved raising ₹1,500 crore through private placement.
• L&T Tech: Net profit increased 4.57% year-on-year to ₹290.9 crore in July-Sept. Dividend declared: ₹17 per share, record date: 25 Oct.
• CRISIL: Net profit rose 12.87% to ₹171.55 crore. Dividend declared: ₹15 per share.

Market Indices

🔻 Nifty 50: -0.71%

🔻 BSE Sensex: -0.75%

🔻 BSE Small Cap: -0.24%

🔼 Nifty Midcap 100: +0.91%

🔻 India VIX: -3.84%

🔻 Nifty Auto: -5.4%

🔼 Nifty Bank: +1.32%

🔻 Nifty Pharma: -0.73%

🔻 Nifty Energy: -1.36%

🔼 Dow Jones: +1.72%

🔼 S&P 500: +1.15%