Stock Market Highlights: Sensex ends 234 pts higher and Nifty reclaims 18,200 led by financial shares

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Positive on banking sector: Neelotpal Sahai

“We have been holding a positive view on banks for quite some time. In the initial part of the pandemic there were fears of huge loan losses and the banks made significantly high provisions on account of that," says Neelotpal Sahai, Head-Equities & Fund Manager at HSBC Global Asset Management. "However", he adds, "actual loan losses were significantly lower than what was expected and as a result of which the credit cost in the subsequent quarters has been normalising and at this point in time they are at decadal lows. So that is the positive side but from here onwards one should expect the credit cost to actually begin to inch up and go back to normal levels." Sahai says that the credit growth is also picking up. "So I believe there is still lot of steam left in the banking sector and it should be a key overweight but one needs to be very selective.”

Sensex and Nifty end at 10-month highs

-- Financials lift market after a strong set of earnings from SBI and BoB

-- Britannia top Nifty gainer, rises nine percent to record high on better-than-expected September quarter

-- SBI gains four percent & BoB 10 percent as major tracking indicators are at multi-year highs in September quarter

-- Divi’s slides nine percent after below expectations earnings, margin down 770 bps

-- Adani Enterprises gains three percent to hit record high, up 18 percent in five sessions

-- AB Cap reports earnings higher than estimates, stock closes with a gain of three percent

-- Amara Raja gains six percent after a turnaround quarter

-- Cement stocks rise on price hike reports, UltraTech, Shree Cem up over a percent each

-- India Cements closes with a gain of one percent despite reporting EBITDA loss

-- Market breadth favours advances, advance-decline ratio at 3:2

Expect Britannia to see margin expansion: Dilip Bhat
“The commodity inflation will sober down and that is where we will see expansion of margins further for Britannia. So it looks good. A caveat being that the group requires a lot of cash for their airline’s operation and that is going to weigh for some more time on this company,” says Dilip Bhat, Joint MD, Prabhudas Lilladher. 

Rupee ends higher at 81.92 vs dollar 

Accumulate Titan at every fall: Dilip Bhat
“Titan is a stock that one should accumulate at every fall because it has positioned itself so well and being in an organised sector, it is going to do a lot more in terms of performance both in terms of topline as well as bottomline,” says Dilip Bhat, Joint MD, Prabhudas Lilladher.

Market expert Prakash Diwan says, "If you're holding it of course we don't need to complain but buy on dips is probably the best strategy. But whether you get a dip or not, it is going to test your patience. So be careful about that. But if you want to buy it, you buy it now, don't delay it otherwise you got to buy it at expensive rates." 

Aditya Birla Capital reports operating profit of Rs 807 crore against Rs 600 crore in the same quarter last year

Ujjivan Small Finance Bank stock surges post quarterly earnings announcement

Ujjivan Small Finance Bank reports September quarter earnings

-- Net profit at Rs 294.3 crore vs loss of Rs 273.8 crore in the year-ago period 

-- NII up 69.5 percent year-on-year at Rs 663.2 crore vs Rs 391.4 crore 

JBM Auto's sales cross Rs 1,000 crore in September quarter

JBM Auto reports a rise of 43 percent year-on-year in net profit increased to Rs 36.18 crore during the September quarter, aided by a 37 percent growth in overall sales. (Read more)

KPR Mill reports September quarter earnings

-- Net Profit down 16.1 percent at Rs 203.3 crore vs Rs 242.2 crore (YoY)

-- Revenue up 1.7 percent at Rs 1,220 crore vs Rs 1,200 crore (YoY)

-- EBITDA down 7.1 percent at Rs 317.4 crore vs Rs 341.6 crore (YoY)

-- Margin at 26 percent vs 28.5 percent (YoY)

Divi's Labs reports September quarter earnings

Divi's Labs disappoints Street with 19 fall in quarterly profit and shrinking margin. The stock is 7.7 percent down at Rs 3,458.3 apiece after the announcement.(Read more)

Happiest Minds collaborates with Servicenow for digital transformation

Acquired company had EBITDA profit of approx 20 percent in 2021: Sapnesh Lalla of NIIT

The talent development company has acquired US-based St Charles Consulting Group. (Read more)

IndiGo's parent company trades with minor cuts despite reporting an improved set of earnings