 1 Da 2017-08-01 14-06-28.png)
Shares of the vehicle manufacturer grew 14 percent in July on a year-on-year basis. The company sold 11,981 units in July, compared to 10,492 units during the corresponding period last year.
The sales growth was led by an outperformance in the Light Commercial Vehicle segment, which saw its sales grow by 28 percent. The company sold 2,955 units compared to 2,310 units last year.
The company sold 9,026 Medium and Heavy Commercial Vehicles compared to 8,182 vehicles last year, a growth of 10 percent.
Shares of the business conglomerate rose as much as 9.2 percent, the most since June 12, 2017 after the company reported a 40 percent growth in its net profit during the April-June quarter.
Consolidated revenues grew 35.5 percent to Rs 2,052 crore on a year-on-year basis. While EBITDA rose 37.9 percent to Rs 329 crore, margins expanded 30 basis points to 16.9 percent.
The stock has missed consensus EPS estimates five times out of the previous ten quarters, according to Bloomberg data.
The stock has outperformed the S&P BSE Sensex index, gaining 82.66 percent on a year-to-date basis.
India’s only profitable shipbuilder’s IPO opens today, reports @soumeet_sarkar.https://t.co/mYqWAZQFzY pic.twitter.com/TZcMDsem55
— BloombergQuint (@BloombergQuint) August 1, 2017
Shares the country’s largest car maker rose as much as 2.2 percent intraday, the most since June 9 and to their highest level on record, after reporting July sales.
The stock extended its rising streak to fifth consecutive session.
Sales for the month rose to 165,346 units from 137,116 units in the same month a year earlier, according to a statement on exchanges.
- Total passenger car sales for the month rose 19.4 percent YoY to 111,803 units;
- Utility vehicles sales jumped 48.3 percent to 25,781 units;
- Local sales rose to 154,001 units versus 125,778 units a year earlier;
- Exports for the month were nearly flat at 11,345 units
"Manufacturing growth in India came to a halt in July, with the PMI down to its lowest mark in almost eight-and-a-half years amid widespread reports that the sector has been adversely affected by the implementation of the goods and services tax," said Pollyanna De Lima, principal economist at IHS Markit, which compiles the survey.
"The downturn was broad-based across all subsectors covered by the survey, with output scaled back among firms in the consumer, intermediate and investment goods categories amid falling order books," the economist said.
(Source: Nikkei)
#BQPoll | Hero Moto, TVS Motor may post double digit sales growth in July, reports @YatinMota.https://t.co/yi8aRj1WhN pic.twitter.com/4GFKrJOelM
— BloombergQuint (@BloombergQuint) August 1, 2017
Shares of the company rose as much as 4.9 percent to Rs 187.50 and climb to a fresh record high. The stock gained for the seventh day in a row after it reported a fourfold increase in its net profit.
The Bloomberg consensus price target is 1.7 percent lower than the current market price. The stock has outperformed the S&P BSE Sensex index in 2017, with gains of 33.38 percent.
Brokerage firm UBS has maintained a 'Sell' rating on the stock with a price target of Rs 124.
Shares of the integrated aluminium producer and copper manufacturer gained as much as 3.05 percent to Rs 226 after brokerage firm Credit Suisse initiated coverage on the stock with an 'Outperform' rating.
Credit suisse pegged its 12-month price target at Rs 270. Hindalco continues to enjoy a favourable position on the cost curve, it said in a research note.
Low costs of production will ensure steady free cash flow generation in India, Credit Suisse said, adding that domestic coal prices remaining benign will also aid the company.
The stock's relative strength index (RSI) of 71 indicates that the stock may be overbought.
Shares of the airline gained as much as 3.35 percent to a 19-month high after its April-June quarter earnings. The carrier reported its highest ever quarterly profit during the period.
IndiGo also plans to shift from rusted ‘sale and leaseback’ business model to one where it will own aircraft, the company said in a conference call with analysts.
The move will help the airline lower operating costs and result in higher profitability.
In a presentation to investors, the airline has highlighted efficiently managing larger operations, airport infrastucture constraints and performance of A320neo engines as some of the key challenges.
Shares of Godrej Consumer Products Ltd. fell as much as 4.41 percent to Rs 991.50 after it registered an 8.9 percent decline in its net profit for the quarter ended June.
This is the most that the stock has fallen in over two months. Brokerages Credit Suisse and CLSA and downgraded the stock post its first quarter performance.
- CLSA: Downgrades to 'Sell' from 'Underperform,' cutting price target to Rs 940 from Rs 958
- Credit Suisse: Downgrades to 'Neutral' from 'Outperform' with price target of Rs 1,000
Shares fell for the third consecutive day but have outperformed the S&P BSE Sensex index on a year-to-date basis with gains of 33 percent.
The stock price has crossed its 50-day moving average. The Bloomberg consensus price target is 15.3 percent higher than the current market price.
The stock has gained for the third straight day but has underperformed the S&P BSE Sensex index, dropping 15.36 percent during the year.
#BQMarketsNow | Nifty rally likely to extend to levels of 10,195, says Hadrien Mendonca of IIFL.https://t.co/nej9bwVRvf pic.twitter.com/uBxeUk5MKY
— BloombergQuint (@BloombergQuint) August 1, 2017
#BQMoney | Rupee to trade in the range of 64.05-64.30 against U.S. dollar, says Edelweiss Securities' Sajal Gupta.https://t.co/nej9bwVRvf pic.twitter.com/5TBPMaLfGk
— BloombergQuint (@BloombergQuint) August 1, 2017
- Nifty futures premium shrinks to 27 points from 28 earlier
- Long build up seen on both Nifty and Nifty Bank as open interest addition seen
- Nifty support moves to 10,000 from 9800; resistance at 10,500
- Maximum open interest on put side shifts to 10,000 levels from 9,800 at 43.5 lakh shares
- Maximum open interest on call side currently at 10,500 levels; open interest at 33.1 lakh shares
- Put writing seen at 9,900 and 10,000 levels
- Call unwinding seen at 10,100 and 10,200 levels
Godrej Consumer- CLSA downgraded the stock to 'Sell' and cut price target to Rs 940 from Rs 958
- Cut to reduce at Nomura, price target Rs 945
- Cut to neutral at Credit Suisse, price target Rs 1,000
Data To Watch- 10:30am: Nikkei India manufacturing PMI for July; prior 50.9
Indian startups scurry to learn from Silicon Valley scandals, reports @SarithaRai.https://t.co/rVLUd5lomb pic.twitter.com/TVEBKJgNm1
— BloombergQuint (@BloombergQuint) August 1, 2017
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