.jpg?downsize=1080:607 "Sensex Drops For Day 2; Nifty Ends Below 10,000")
#ChartOfTheDay By @soumeet_sarkar | @HPCL defies analysts.https://t.co/g7kzRzLWah pic.twitter.com/pZccsb4noX
— BloombergQuint (@BloombergQuint) August 8, 2017
Shares of the software services provider fell as much as 3.1 percent after reporting first quarter sales missed street estimates.
The company reported a net income of Rs 65.4 crore, compared to the Rs 58.77 crore estimated by analysts. Its revenue came in at Rs 850 crore versus the estimate of Rs 871 crore.
The stock had risen in the previous two sessions. Trading volume was 1.4 times the 20-day average for this time of the day.
Five things that helped Bajaj Finance enter Rs 1-lakh-crore market cap club, reports @shraddha_babla.https://t.co/QdGd4RqsCT pic.twitter.com/mGfu5tLZ0b
— BloombergQuint (@BloombergQuint) August 8, 2017
Shares of the hypermarket chain operator rose as much as 7.3 percent to its highest since listing after the company’s net profit more than doubled in the April-June quarter.
The Big Bazaar operator reported a net profit of Rs 148 crore in three-month period, compared to Rs 70.5 crore same period year-ago. Revenue of the company rose 18.2 percent to Rs 4705 crore on a year-on-year basis.
Other Q1 Highlights:
- EBITDA up 79.5 percent at Rs 209.5 crore
- Margin of 4.4 percent from 2.9 percent
The stock extended gains for the third day. It has returned 247 percent so far this year.
Shares of the construction company swung between gains and losses after reporting first quarter earnings.
The company’s net income for the April-June period stood at Rs 63.43 crore, compared to Rs 55.60 crore estimate of analysts tracked by Bloomberg.
It clocked a revenue of Rs 2,010 crore crore, in line with analyst estimates.
Other Q1 Highlights
- Total costs Rs 1,960 crore
- Other income Rs 20.87 crore
- Won Rs 6,051 crore worth of orders during the quarter
- Order book at Rs 22,010 crore end-June; up 22 percent year-on-year
- One-time gain Rs 12.42 crore
Shares of the two-wheeler maker rose 3.4 percent to its highest level intraday since May 22 after it entered into a partnership with Triumph Motorcycles.
The non-equity partnership will enable both companies to benefit from their collective strengths of mid-capacity motorcycles, Bajaj Auto said in an exchange filing. The new global partnership will enable Triumph to significantly expand its global reach by entering new higher volume market segments, especially in emerging markets, the company said.
While Bajaj will gain access to iconic Triumph brand and motorcycles. It will be able to offer wider range in domestic markets and other international markets. The companies to announce further details later, the statement said.
Trading volume 4.5 times the 20-day average. It extended gain for fourth straight day and was the second best-performer on the Sensex.
Shares of Sintex Plastics Technology Ltd. made their stock market debut at Rs 130 apiece after its demerger from the parent Sintex Industries Ltd. The scrip rose 5 percent to hit a high of Rs 136.50 on the BSE as of 10:10 a.m.
Shares of the country’s largest steel producer gained as much as 3.44 percent after it reported a net profit of Rs 921 crore during the April-June period.
The net profit was in comparison to a net loss of Rs 3,183 crore during the year-ago period.While EBITDA grew 52 percent from the previous year, operating margin expanded to 17 percent from 13 percent.
The stock is gaining for the third day in a row. The Relative Strength Index (RSI) was at 73, indicating that the stock may be overbought. It has gained nearly 60 percent on a year-to-date basis, outperforming the benchmark Sensex Index.
Shares of the aluminium and copper products maker gained as much as 7.58 percent, the most in nine months, to Rs 244.90 after its overseas arm Novelis reported strong first quarter earnings.
Novelis’s net profit more than tripled to $101 million during the April-June quarter. Improved profitability in North America operations saw its core EBITDA grow 8 percent compared to last year to $289 million.
The company's volumes grew 4 percent year-on-year. The management maintained its guidance of 2-3 percent over the next two years.
The stock's Relative Strength Index (RSI) was 71, indicating that it may be in an overbought zone.
Shares of the mobile tower infrastructure company fell as much as 4.5 percent, the most since February 21, after its parent Bharti Airtel sold 3.6 percent of the company's equity in multiple block deals.
Bharti Infratel had 6.7 crore shares worth Rs 2,600 crore change hands in five block deals on the BSE and the NSE, Bloomberg data showed.
Shares of Bharti Airtel were trading 1.6 percent higher post the deal.
#BQMoney | Rupee to trade between 63.50-63.80 against U.S. dollar, says Veracity's Pramit Brahmbhatt.https://t.co/FBt4eQpi9G pic.twitter.com/Q3RmVXfNYR
— BloombergQuint (@BloombergQuint) August 8, 2017
#BQMarketsNow | 9,920 is a key level for the Nifty, says GEPL's Pushkar Kanetkar.https://t.co/FBt4eQpi9G pic.twitter.com/emXNzUQxm5
— BloombergQuint (@BloombergQuint) August 8, 2017
- Nifty futures premium moves to 34 points from 42 points
- Nifty futures add 2.4 lakh shares in open interest
- Nifty range for August series in terms of open interest concentration between 10,000 to 10,200
- Maximum Call open interest shifts to 10,200 from 10,500
- Maximum Put open interest at 10,000 strike followed by 9,800 strike
- Open Interest addition seen on Call strikes of 10,100 and 10,200
- Open Interest addition seen on Put strikes of 10,000 and 10,100
- Amara Raja Batteries: Nomura retained a 'Buy' rating on the stock with Rs 1,009 as the price target
- Whirlpool India: Deutsche Bank reiterated its 'Hold' rating on the stock with price target Rs 1,020
- L&T Infotech: IIFL initiated coverage on the stock with a 'Buy' rating and price target of Rs 920
- Sintex Plastics: Ventura Securities maintained a 'Buy' rating with Rs 196 as the price target
- Hindalco: Morgan Stanley reiterated its 'Overweight' rating with price target of Rs 241
For a complete list of stocks to watch, click HERE!
- National Reinsurer GIC files draft prospectus for IPO
- SEBI asks exchanges to act against 331 suspected shell companies
- Idea-Vodafone merger gets SEBI’s conditional approval
- PSU Banks write off Rs 2.49 lakh crore of loans in five years
- Bharti Airtel looks to raise $421 million from Infratel stake sale
- All you need to know about Sintex Plastic Technology ahead of its listing
- Britannia to increase prices, but not soon
Stronger dollar may hurt developing stocks more than currencies.https://t.co/SiQz2nc83z pic.twitter.com/pPJnpHzvSW
— BloombergQuint (@BloombergQuint) August 8, 2017
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