Market Morning Notes For 3rd November 2025

Market Commentary

Global markets – US indices closed positive on Friday as earnings from Amazon and Apple eased concern about lofty valuations. Dow Jones closed green by 0.1 pct. While Nasdaq closed higher by 0.6 pct.

Commodities – Gold prices remain flat and currently stood at USD 4,005 over stronger dollar. On the other hand, oil prices stood at USD 65.09/bbl.

Asian markets – Asian markets trading higher in the early morning trade. Hang Seng trading up by 0.5 pct. While Nikkei closed positive by 2 pct.

Indian Indices – India’s equity benchmarks are likely to open muted as GIFT Nifty indicates. Benchmark Indices extended losses on Friday weighed by top private lenders on potential outflows due to new index eligibility rules.

Results Today – Bharti Airtel, Titan, Powergrid, Tata Consumer, Kirloskar Brothers.

  Stocks to watch

Positive Read through

• M&M Auto – October sales in line with estimates, all segments see double-digit growth.
• Tata Motors – Biggest outperformer among four-wheeler companies, PV sales jumped 27 pct YoY.
• Maruti – Records highest-ever monthly sales led by domestic growth.
• Eicher Motors RE – October sales largely in line with estimates, healthy growth in festive season.
• TVS Motor – Reports in-line sales numbers in October led by motorcycle and exports.
• Godrej Consumer – Q2 largely in line, domestic volume growth at 3 pct vs expected 1–2 pct.
• Bank of Baroda – Q2 above estimates, NIM expanded & lower credit cost aided Profit growth.
• Kaynes Tech – CEO relieving date extended to November 8 from October 31 to ensure smooth transition.
• Ather Energy – October registration sees healthy growth both MoM and YoY.
• Titagarh – Bags Mumbai Metro contract worth Rs. 24.8 bn for manufacturing of Line 5 metro coaches.
• NTPC Green – Signs MoU with CtrlS Datacenter for development of renewable energy projects.
• Patanjali Foods – EBITDA rose 19.5 pct, FMCG business sales grew 30 pct YoY.
• Ashok Leyland – Big beat to expectations, sees all-round healthy growth.
• BPCL – Margin at 9.3 pct vs 8.6 pct, reported GRM at USD 10.8/bbl vs estimate at USD 7.5/bbl.

Negative Read through

• JK Cement – Slight miss vs estimates, sales grew 18 pct YoY.
• Hyundai – October sales lower than estimates, total sales remain flat.
• Coal India – October coal production declined 9.8 pct, offtake fell 5.9 pct YoY.
• Info Edge – October overall hiring down 9 pct YoY due to Diwali impact, adjusted hiring rose 3 pct.
• Epack Prefab – GST department search at company’s offices in Greater Noida.
• NMDC – Total October iron ore production up 5 pct, sales down 3.5 pct YoY.
• Balkrishna Industries – EBITDA fell 12 pct, margin at 20.9 pct vs 23.4 pct YoY.
• Tata Chemicals – Margin at 13.8 pct vs 15.5 pct YoY, net profit decline 42 pct YoY.
• HUL – Receives tax demand order of Rs. 19.86 bn from income tax department.
• AU SFB – Deputy CEO resigns on October 27, relieved from October 31.

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