GIFT Nifty Indicates Positive Opening; Ultratech and Bajaj Housing to Announce Results Today

BENGALURU, India - Oct. 21, 2024 - PRLog -- Nifty kicked off last week on a positive note, climbing above 25,100 on Monday. The benchmark index sustained momentum Tuesday morning, but selling pressure intensified later in the day and weighed on it. However, the index held steady and closed above 25,000. On Wednesday and Thursday, weakness persisted in the market. On Friday, sharp selling in the morning saw Nifty slide below 24,600, but a smart reversal followed, with the index surging more than 200 points from the day's low. Two distribution days were added during the week. Nifty is currently trading 2% below its 21-DMA and 1% below its 50-DMA.

Dalmia Bharat's Q2 FY25 results missed estimates. Revenue declined 2.1% y/y to Rs 3,087 crore. Profit was down 60.5% y/y to Rs 49 crore. EBITDA margin contracted 460bps y/y to 14.1%.

Hdfc Bank's Q2 FY25 PAT topped estimates. NII increased 10% y/y to Rs. 30,113.9 crore. PAT increased 5.3% y/y to Rs. 16,821 crore. GNPA increased 3bps q/q to 1.36%. NNPA increased 2bps q/q to 0.41%.

Indiamart Intermesh's Q2 FY25 revenue increased 18% y/y to Rs 347.7 crore. Profit was up 94.7% y/y to Rs 135.1 crore. Margin expanded 1,500bps y/y to 38.7%.

Alembic Pharmaceuticals received U.S. FDA approval for Diltiazem Hydrochloride extended release capsules used to treat high blood pressure and prevent chest pain.

RBL Bank's Q2 FY25 result missed estimates. NII increased 9.5% y/y to Rs. 1,615 crore. PAT declined 24.4% y/y to Rs. 222.5 crore. GNPA increased 19bps q/q to 2.88%. NNPA increased 5bps q/q to 0.79%.