*VOLTAS*
* Revenue expected at Rs 2721 crore versus Rs 2292 crore
* EBITDA expected to be seen at Rs 160 crore versus Rs 70 crore
* EBITDA margin expected to be seen at 5.88% versus 3.06%
* Net profit expected to be seen at Rs 134 crore versus Rs 36 crore

*Securities in F&O Ban For Trade Date 28-October-2024*

* AARTIIND
* BANDHANBNK
* DIXON
* ESCORTS
* IDFCFIRSTB
* INDIAMART
* LTF
* MANAPPURAM
* NMDC
* RBLBANK

*Economic Calendar – 28.10.2024*


Daylight Saving Time Shift @ U.K. & Europe (13:30 IST)

No Major Macro Data

India Daybook – Stocks in News*


*Suven Pharma:* Gets NCLT approval for merger of Casper Pharma with the company. (Positive)

*SBI Life:* Company expects to grow at 15% in FY25 with protection and annuity expected to see revival in the second half. (Positive)

*Thermax:* Company boosts its construction chemicals portfolio with the acquisition of Buildtech products India Pvt ltd (Positive)

*Gail:* Company and Verbio India sign MOU to develop agricultural residue based CBG projects (Positive)

*Strides Pharma:* Company continues to maintain $400 million guidelines for US in next couple of years (Positive)

*Sky Gold:* Board approves bonus issue in the ratio of 9:1 (Positive)

*Hindustan Zinc:* Company plans to pump in up to $2 billion (around ₹17,000 crore) to double its production capacity to 2 million tonnes (Positive)

*Shriram Finance:* Company approves share split in 5:1 ratio (Positive)

*Oil Downstream stocks:* Oil prices slump 4% as Israel limits Iran strike to military targets (Positive)

*Bank of Baroda:* Net profit at Rs 5237.9 cr vs Rs 4252.9 cr, NII at Rs 11622.1 vs Rs 10830.7 cr. (YoY) (Positive)

*Torrent Pharma:* Net profit at Rs 453 cr vs Rs 386 cr, Revenue at Rs 2889 cr vs Rs 2660 cr. (YoY) (Positive)

*Inox Green Energy:* Net profit at Rs 6.4 cr vs Rs 5.8 cr, Revenue at Rs 55.2 cr vs Rs 47.4 cr. (YoY) (Positive)

*UTI AMC:* Net profit at Rs 263 cr vs Rs 183 cr, Revenue at Rs 538 cr vs Rs 404 cr. (YoY) (Positive)

*ICRA:* Net Profit at Rs 7.6 cr vs Rs 0.74 cr, Revenue at Rs 146 cr vs Rs 91 cr. (YoY) (Positive)

*Themis Medicare:* Net Profit at Rs 9.9 cr vs Rs 7.1 cr, Revenue at Rs 99.6 cr vs Rs 73.5 cr. (YoY) (Positive)

*Macrotech:* Net Profit At Rs 423.1 Cr Vs Rs 202.8 Cr, Revenue At Rs 2,625.7 Cr Vs Rs 1.749.6 Cr (YoY) (Positive)

*ICICI Bank:* Gross slippages at Rs 5073 cr vs poll of Rs 5916 cr. (Positive)

*Krsnaa Diagnostics:* Net Profit at Rs 19.6 cr vs Rs 10.5 cr, Revenue at Rs 186 vs Rs 155 cr. (YoY) (Positive)

*Syrma SGS:* Net Profit at Rs 39.7 cr vs Rs 30.5 cr, Revenue at Rs 833 vs Rs 712 cr. (YoY) (Positive)

*Shakti Pumps:* Net Profit at Rs 101 cr vs Rs 5.8 cr, Revenue at Rs 634 vs Rs 153 cr. (YoY) (Positive)

*Siyaram Silk:* Net Profit at Rs 68 cr vs Rs 61 cr, Revenue at Rs 608 cr vs Rs 586 cr. (YoY) (Positive)

*Texmaco:* Net Profit at Rs 97.5 cr vs Rs 36.2 cr, Revenue at Rs 1346 vs Rs 805 cr. (YoY) (Positive)

*Universal Cables:* Net Profit at Rs 18.9 cr vs Rs 7.9 cr, Revenue at Rs 638.1 vs Rs 494.4 cr. (YoY) (Positive)

*GMR Power:* Net Profit at Rs 249.6 cr vs loss Rs 123.3 cr, Revenue at Rs 1384 vs Rs 627 cr. (YoY) (Positive)

*Capital Small Fin Bank:* Net Profit at Rs 33.3 cr vs Rs 24.3 cr, NII at Rs 100.9 vs Rs 84.5 cr. (YoY) (Positive)

*Rainbow:* Net profit at ₹77.3 cr vs ₹64 cr, Revenue at ₹404 cr vs ₹318.6 cr (YoY) (Positive)

*Bandhan Bank:* Net Profit at Rs 937 cr vs poll of Rs 888.7 cr, NII at Rs 2948 vs poll of Rs 2984.2 cr. (Neutral)

*Indigo:* Net loss at Rs 990 cr vs net profit Rs 188 cr, Revenue at Rs 16970 vs Rs 14900 cr. (YoY) (Neutral)

*Shriram Finance:* Net Profit at Rs 2070 cr vs poll of Rs 2074 cr, NII at Rs 5464 vs poll of Rs 5520 cr. (Neutral)

*Aegis Logistics:* Net profit at Rs 126 cr vs Rs 127 cr, Revenues at Rs 1750.4 cr vs Rs 1235 cr. (YoY) (Neutral)

*Zee Media:* Net loss at Rs 49.9 cr vs Rs 30.7 cr, Revenue at Rs 130 cr vs Rs 150 cr. (YoY) (Neutral)

*ICICI Bank:* Net Profit at Rs 11746 cr vs poll of Rs 11029 cr, NII at Rs 20048 cr vs poll of Rs 19995 cr. (Neutral)

*Vidhya Tele:* Net profit at Rs 30.8 cr vs Rs 32.7 cr, Revenue at Rs 953 cr vs Rs 862 cr. (YoY) (Neutral)

*CMS Info:* Net profit at Rs 90.9 cr vs Rs 84.3 cr, Revenue at Rs 624 cr vs Rs 544 cr. (YoY) (Neutral)

*Sangam:* Net profit at Rs 4.8 cr vs Rs 6.9 cr, Revenue at Rs 678 cr vs Rs 633 cr. (YoY) (Neutral)

*20 Microns:* Net Profit at Rs 16.4 cr vs Rs 16.0 cr, Revenue at Rs 240 cr vs Rs 199 cr. (YoY) (Neutral)

*Balkrishna Ind:* Net profit at Rs 346.9 cr vs Rs 347.4 cr, Revenue at Rs 2419.7 cr vs Rs 2253.2 cr. (YoY) (Neutral)

*Coal India:* Net Profit at Rs 6,289 Cr versus

Poll Of Rs 6,900 Cr, Revenue at Rs 30,672.9 Cr versus Poll Of Rs 31,509 Cr (Neutral)

*Kewal Kiran:* Net profit at Rs 65.5 cr vs Rs 49.7 cr, Revenue at Rs 308.2 cr vs Rs 262.5 cr (YoY) (Neutral)

*Sasken:* Net profit at Rs 12.3 cr vs Rs 18.1 cr, Revenue at Rs 135 cr vs Rs 103 cr (YoY) (Neutral)

*Titagarh Rail:* Net profit at Rs 80.7 cr vs Rs 70.6 cr, Revenue at Rs 1,057 cr vs Rs 935.5 cr (YoY) (Neutral)

*Praj Ind:* Net profit at Rs 74.4 cr vs Rs 84.8 cr, Revenue at Rs 816 cr vs Rs 882 cr (YoY) (Neutral)

*Hariom Pipes:* Net profit at Rs 15.8 cr vs Rs 14.8 cr, Revenue at Rs 314 cr vs Rs 302 cr (YoY) (Neutral)

*REC:* Net profit at Rs 4,005.5 cr vs Rs 3,773.2 cr, NII at Rs 4,680.4 cr vs Rs 3,856.2 cr (YoY) (Neutral)

*Max Estate:* Net loss at Rs 1.4 cr vs loss Rs 9.0 cr, Revenue at Rs 52.8 cr vs Rs 27.8 cr (YoY) (Neutral)

*DLF:* Net Profit At Rs 1,381 Cr Vs Rs 621.9 Cr, Revenue Up 46.5% at Rs 1,975 Cr Vs Rs 1,347.7 Cr (YoY) (Neutral)

*Aurobindo Pharma:* Completion of acquisition of balance 49% of equity shares of GLS Pharma for a purchase consideration of Rs 22.5 crores (Neutral)

*Strides Pharma:* Company unit SPG acquires remaining stake in strides Switzerland for CHF 1.01 Million (Neutral)

*BPCL/Oil India:* Company enters into a JV agreement with Oil India for developing city gas distribution in Arunachal Pradesh. (Neutral)

*Real Estate Stocks:* GoM to recommend hiking limit of affordable housing limit from Rs 45 lakh/unit to Rs 56 lakh/unit (Neutral)

*Zomato:* Company completes subscription of shares of Beyond Next Smart Home Private. (Neutral)

*Reliance Ind:* Ex-date today for the purpose of Bonus issue, ratio 1:1. For F&O revised lot size to be revised at 500 from 250 (Neutral)

*Dr Reddy’s Lab:* Ex-date today for the stock split, ratio from Rs 5 to Rs 1. F&O revised lot size to be revised at 625 from 125 (Neutral)

*ITD Cementation:* Promoter Italian-Thai Development to sell 46.64% stake to Adani group arm Renew Exim DMCC, stake sale at Rs 400/share versus last traded price Rs 539/share (Neutral)

*Adani Airports:* Airport Holdings incorporates subsidiary Celeritas International FZCO in UAE. (Neutral)

*Tatva Chintan Prarma:* Net loss at Rs 0.6 cr net profit vs Rs 7.8 cr, Revenue at Rs 83.5 vs Rs 96.7 cr. (YoY) (Negative)

*Phoenix Mills:* Net Profit at Rs 218.1 Cr Vs Rs 252.6 Cr, Revenue Up 5% at Rs 918 Cr Vs Rs 874.1 Cr (YoY) (Negative)

*RR Kabel:* Net Profit at Rs 49.5 cr vs Rs 74.1 cr, Revenue at Rs 1810 vs Rs 1609.7 cr. (YoY) (Negative)

*Astec Life:* Net loss at Rs 38.5 cr vs Rs 13.4 cr, Revenue at Rs 98.5 vs Rs 110.8 cr. (YoY) (Negative)

*Creditaccess:* Net Profit at Rs 186 cr vs Rs 347 cr, Revenue at Rs 1417 vs Rs 1187 cr. (YoY) (Negative)

*BPCL:* Net profit at Rs 2397 cr vs Rs 4118 cr, Revenue at Rs 1.02 lakh cr vs Rs 1.08 lakh cr (YoY) (Negative)

*IDFC First:* Net profit at Rs 200.7 cr vs poll of Rs 644.6 cr, NII at Rs 4,787.8 cr vs poll of Rs 4,897.6 cr (Negative)

*JK CEM:* Net profit at Rs 125.8 cr vs Rs 175.4 cr, Revenue down 7% at Rs 2,560 cr vs Rs 2,752.8 cr (YoY) (Negative)

*Godawari Power:* Net profit at Rs 159.1 cr vs Rs 256.9 cr, Revenue at Rs 1,267.6 cr vs Rs 1,291 cr (YoY) (Negative)

*Indian Equities Pre Open Update*


Indian equities expected to open with flat note while consolidation expected to be seen with focus on Q2 earnings.

*Global Peers Update:* Asian equities are trading with mixed note as Japanese benchmark Nikkei jumped as Yen weakens on election doldrums while Chinese markets opened in marginal red zone. U.S. indices futures are trading in green zone as Israel avoided striking Iran’s nuclear and oil facilities in a weekend attack, pointing to a less severe escalation in Middle Eastern tensions.

*Sectors to Watch:* Healthcare, Construction, Energy and Financial stocks likely to remain on focus during the day.  
 
*GIFT NIFTY Price* 24211.0 *Adjusted Change:* +18.0 Points, Percent Change: +0.07%

*Technical Levels: Nifty Near Future*

*Support*: 24102.0/24060.0
*Resistance*: 24286.0/24400.0

*Technical Levels: Bank Nifty Near Future*
     
*Support*:  50696.0/50512.0
*Resistance*: 51185.0/51399.0

*Options Pre Open Recommendations: Stocks*

RAMCOCEM 880.0 CALL OPTION (November Expiry), Buy at 16.0 SL 8.0 TGT 32.0

VEDANTA 450.0 PUT OPTION (November Expiry), Buy at 12.8 SL 7.0 TGT 22.0

Focus this setup fir ICICI Bank

Fund Houses Recommendations*

Jefferies on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1550/Sh from Rs 1460/Sh (Positive)

Investec on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1450/Sh from Rs 1350/Sh (Positive)

MOSL on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1500/Sh from Rs 1400/Sh (Positive)

Nomura on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1575/Sh from Rs 1420/Sh (Positive)

Macquarie on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1350/Sh from Rs 1300/Sh (Positive)

Citi on *ICICI Bank:* Maintain Buy on Bank, raise target price at Rs 1600/Sh from Rs 1547/Sh (Positive)

IIFL on *ICICI Bank:* Upgrade to Buy on Bank, raise target price at Rs 1480/Sh from Rs 1370/Sh (Positive)

CLSA on *Bandhan Bank:* Maintain Outperform on Bank, target price at Rs 240/Sh (Positive)

Nomura on *Bandhan Bank:* Upgrade to Neutral on Bank, raise target price at Rs 180/Sh (Positive)

HSBC on *Shriram Fin:* Maintain Buy on Company, raise target price at Rs 3275/Sh (Positive)

Nomura on *Shriram Fin:* Maintain Buy on Company, raise target price at Rs 3800/Sh (Positive)

Jefferies on *Indigo:* Maintains Buy on Company, cut target price at Rs 5100/Sh (Neutral)

Kotak on *Indigo:* Maintains Buy on Company, cut target price at Rs 5200/Sh (Neutral)

HSBC on *Bank Baroda:* Maintains Hold on Bank, target price at Rs 270/Sh (Neutral)

Investec on *Bank Baroda:* Maintains Hold on Bank, cut target price at Rs 260/Sh (Neutral)

IIFL on *Bank Baroda:* Maintains Buy on Bank, cut target price at Rs 300/Sh (Neutral)

Nomura on *Bank Baroda:* Maintains Buy on Bank, raise target price at Rs 290/Sh (Neutral)

HSBC on *OLA Elec:* Maintains Buy on Company, cut target price at Rs 110/Sh (Neutral)

UBS on *HPCL:* Maintains Buy on Company, target price at Rs 445/Sh (Neutral)

MS on *JSW Steel:* Maintains Overweight on Company, target price at Rs 1150/Sh (Neutral)

Jefferies on *Coal Ind:* Maintains Buy on Company, cut target price at Rs 570/Sh (Neutral)

Jefferies on *MGL:* Maintains Buy on Company, target price at Rs 1740/Sh (Neutral)

MOSL on *IDFC First Bank:* Maintain Neutral on Bank, target price at Rs 73/Sh (Neutral)
      
Nuvama on *IDFC First Bank:* Maintain Hold on Bank, cut target price at Rs 60/Sh (Negative)

Short term Call

BUY EXIDEIND

CMP : 461

SL : 444

TGT : 490

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