The Conviction And The Caution

Market overview

On 28 October, 50 to 70 companies declared Q2 FY27 results, with seven blue-chip stocks the main movers. Results were mixed across sectors.

Sector view

• Infrastructure and diversified: Adani Enterprises net profit up 84% to Rs 3,199 Cr. Rs 25,000 Cr rights issue approved.
• Two-wheelers: Hero MotoCorp profit up 16% to Rs 1,393 Cr; TVS Motor a record quarter with profit growth of about 23.5%.
• FMCG: HUL revenue up 15% to Rs 18,071 Cr, profit up 4% to Rs 2,796 Cr, with margins under pressure.
• Steel: Jindal Steel revenue up 34% but profit down 26% to Rs 860 Cr on falling prices.

Themes

• Infrastructure and capex are driving order books.
• Volume recovery in two-wheelers.
• FMCG volumes are running below historical rates.

Ratings in the report

• BUY: Adani Enterprises, TVS Motor.
• HOLD: Hero MotoCorp, HUL.
• AVOID or reduce: Jindal Steel.

The report cites no sources for its company figures. Check them against filings before relying on them.

Educational purposes only, not investment advice. Do your own research before investing.

Sources: Business Standard results calendar, company announcements and NSE and BSE filings (as cited in the report).