PTC India Ltd Share Price – NSE /  BSE

Trading, Small Cap

The headline equity benchmarks traded with substantial losses in early afternoon trade. The Nifty traded below the 23,750 mark. Auto shares witnessed selling pressure for the fifth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex declined 482.35 points or 0.62% to 78,188.53. The Nifty 50 index slipped 176.40 points or 0.74% to 23,707.05.

The broader market underperformed the benchmark indices. The S&P BSE Mid-Cap index fell 1.77% and the S&P BSE Small-Cap index declined 2.22%.

The market breadth was weak. On the BSE, 705 shares rose and 3,158 shares fell. A total of 113 shares were unchanged.

Economy:

India’s retail inflation, based on the Consumer Price Index (CPI), in October 2024 surged to a 14-month high of 6.21%, according to the latest official data released on Tuesday. India’s retail inflation had stood at a nine-month high of 5.49% in September 2024. It was at 4.87% in October 2023.

India’s industrial production grew by 3.1% in September, according to official data released on Tuesday. In the previous month of August, the factory output, based on the Index of Industrial Production (IIP), was in the negative territory at (-) 0.1%. However, the IIP growth had stood at 6.4% in September 2023.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.95% to 15.17. The Nifty 28 November 2024 futures were trading at 23,772.65, at a premium of 65.60 points as compared with the spot at 23,707.05.

The Nifty option chain for the 28 November 2024 expiry showed maximum Call OI of 34.7 lakh contracts at the 24,500 strike price. Maximum Put OI of 43.8 lakh contracts were seen at 23,000 strike price.

Buzzing Index:

The Nifty Auto index fell 2.05% to 22,791.95. The index dropped 5.57% in five consecutive trading sessions.

Eicher Motors (down 3.39%), Samvardhana Motherson International (down 3.35%), Mahindra & Mahindra (down 2.99%), Hero MotoCorp (down 2.96%), Bharat Forge (down 2.5%), TVS Motor Company (down 2.32%), Apollo Tyres (down 2.13%), Ashok Leyland (down 2.05%), Bajaj Auto (down 1.78%) and Balkrishna Industries (down 1.67%) declined.

On the other hand, Tata Motors (up 0.63%) and MRF (up 0.21%) edged higher.

Stocks in Spotlight:

PTC India rose 1.84% after the company’s consolidated net profit jumped 15.57% to Rs 233.82 on 1.15% rise in revenue from operations to Rs 5,127.99 crore in Q2 FY25 over Q2 FY24.

3M India declined 3.16% after the company’s standalone net profit fell 8.44% to Rs 133.78 crore despite of 6.86% increase in revenue from operations to Rs 1,110.80 crore in Q2 FY25 over Q2 FY24.

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Profit before tax was at Rs 218.9 crore in Q2 FY25, up 7.40% as against Rs 203.81 crore recorded in Q2 FY24.

On standalone basis, the company’s net profit tumbled 12.63% to Rs 116.5 crore on 1.74% rise in revenue from operations to Rs 4,965.59 crore in Q2 FY25 over Q2 FY24.

Standalone profit before tax slipped 5.72% to Rs 156.55 crore in Q2 FY25 as against Rs 166.06 crore posted in Q2 FY24.

The total volume climbed 12.72% to 24,039 million units (MU) in the fourth quarter as compared to 21,326 million units (MU) recorded in the corresponding period last year.

During the quarter, core trading margin stood at 3.60 paisa per unit.

Dr. Manoj Kumar Jhawar, chairman & MD, PTC India, said A healthy mix of volume from trades across different tenures has contributed to the growth of 13% in trading volume in Q2-FY 25. The short-term has contributed 56% of the volume and balance has been contributed by medium- & long-term contracts. We expect to see firm electricity demand in sync with GDP growth rate. The new business drivers for the sector will be the renewable energy, storage solutions and consulting offerings. We expect to penetrate deeper into the opportunity space around identified growth drivers and maintain our leadership position.

PTC India is principally engaged in trading of power. PTC holds Category I license from Central Electricity Regulatory Commission (CERC), the highest category with permission to trade unlimited volumes.

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Net profit of PTC India rose 19.77% to Rs 217.24 crore in the quarter ended September 2024 as against Rs 181.38 crore during the previous quarter ended September 2023. Sales declined 3.07% to Rs 4855.98 crore in the quarter ended September 2024 as against Rs 5009.76 crore during the previous quarter ended September 2023.

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PTC India will hold a meeting of the Board of Directors of the Company on 12 November 2024

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