TLDR
Market Recap: November 04, 2025
On November 04, Indian equities slipped as profit-taking in IT and autos overpowered strength in telecom and consumer names. Sensex closed 83,459.15 (-519.34, -0.62%) and Nifty 50 25,597.65 (-165.70, -0.64%). Nifty Midcap 100 60,037.20 (-0.42%) and Nifty Smallcap 100 18,360.90 (-0.82%). India VIX eased to 12.65 (-0.16%). Momentum cooled after October’s rally while flows stayed domestically supported.
Key Drivers :
Policy and liquidity: RBI’s recent dollar sales draining system liquidity stoked expectations of OMOs; market eyes December MPC clues.
Flows: November month-to-date provisional tally shows FIIs -₹1,883 cr and DIIs +₹3,516 cr in cash.
Sector rotation: IT, autos, and metals led declines while telecom and select consumer names outperformed on earnings beats.
Today’s Top Stories:
SBI Q2 steady: One-off from Yes Bank stake sale and stable asset quality kept PAT at ₹20,160 cr; stock up despite sell-off.
Airtel beats: PAT +89% YoY, ARPU ₹256, data-center and enterprise push lift sentiment; stock hits new high.
Titan sparkles: Profit +59% YoY on festive-led jewellery; shares edge higher to a one-year high.
Adani Enterprises mixed: Core earnings weaken on coal; ₹25,000 cr rights issue announced; stock soft.
Hero Moto soft patch: October domestic sales down 8%; exports up; shares under pressure.
TOP STORIES
1. SBI prints steady Q2, one-off gain props profit
Gemini-2.5
Financial performance: Standalone PAT ₹20,160 cr up 10% YoY, aided by gains from the Yes Bank stake sale; NII up sequentially with NIM stabilising.
Strategic take: Balance-sheet growth remained broad-based with asset quality inching better, hinting margins may have bottomed.
Market impact: Stock closed up 0.7% near record highs despite a weak tape.
SBI Q2: one-off aided PAT, NIM steady. Your H2 view?
2. Bharti Airtel rides ARPU and 4G adds
Gemini-2.5
Financial performance: Q2 consolidated PAT ₹6,792 cr (+89% YoY); revenue ₹52,145 cr (+26% YoY); ARPU ₹256.
Strategic take: Mix upgrade and enterprise growth continue; commentary flagged data-center and Indus stake plans as scale levers.
Market impact: Shares +1.9% and a fresh 52-week high, outperforming benchmarks.
Airtel Q2: ARPU ₹256, PAT up. Position now?
3. Titan shines on festive demand
Gemini-2.5
Financial performance: Q2 profit ₹1,120 cr (+59% YoY) with jewellery driving the beat; revenue growth strong into the festive window.
Strategic take: Early festive pull-through and international expansion sustain momentum across jewellery and wearables.
Market impact: Stock +1-3% intraday, hitting a one-year high.
Titan: Festive-led beat in jewellery. View at current valuations?
4. Adani Enterprises: headline up, core soft; big rights issue
Gemini-2.5
Financial performance: Adjusted profit fell due to a coal trading slump; consolidated revenue was -6% YoY. Reported profit lifted by a one-off from AWL Agri stake sale.
Strategic take: Board approved ₹25,000 cr rights issue to fund expansion across airports and new energy.
Market impact: Shares -1.9% post-results.
Adani Ent: ₹25,000 cr rights issue as core weakens. What’s your call?
5. Hero MotoCorp slips on October dispatches
Gemini-2.5
Business update: Domestic sales -8% YoY in October; exports +43% YoY tempered the print.
Strategic take: Retail trends during festivals were stronger; mix and new launches remain the watch-outs into H2.
Market impact: Stock -3% to -5% intraday, leading losses in auto peers.
Hero Moto: Oct domestic down, exports up. How do you trade it?
GYAANI HOT TAKES
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