.jpg?downsize=1080:607 "Sensex, Nifty Slip For Seventh Day As RBI Maintains Status Quo")
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Inflation has come down even as fiscal deficit has stayed above 3%. Not necessary that 3% fiscal target be achieved at time that was identified in 2014, RBI Governor tells @dugalira. #RBIPolicy
— BloombergQuint (@BloombergQuint) February 7, 2018
Read: https://t.co/Zfr39HYYwo
Watch: https://t.co/ydbNEAOHSD pic.twitter.com/yQW7G1b2Wj
India’s Monetary Policy Committee today kept interest rates unchanged even as it continued to caution on emerging upside risks to inflation.
- Following the review, the benchmark repo rate remains at 6 percent.
- The reverse repo rate will be held at 5.75 percent.
- The cash reserve ratio remains at 4 percent.
(Click here to read the full report)
Shares of the air conditioner and refrigerator maker rose as much as 4.9 percent, the most in nearly three months to Rs 614.75.
The company's profit rose 24 percent year-on-year during October-December period, according to its stock exchange notification.
Key Earnings Highlights Q3 (YoY)
- Net profit rose 24 percent to Rs 99.48 crore.
- Revenue rose 16.4 percent to Rs 1,374.6 crore.
- Ebitda rose 34.6 percent to Rs 118.4 crore.
- Margins rose to 8.6 percent from 7.5 percent.
Shares of the low-budget carrier rose as much as 7.1 percent to Rs 138.50 after the company's profit beats Bloomberg estimates widely.
Key Earnings Highlights Q3 (YoY)
- Net profit 32.6 percent to Rs 240 crore.
- Revenue rose 26.8 percent to Rs 2,082 crore.
- Ebitdar rose 36 percent to Rs 568 crore.
- Margin 27.28 percent versus 25.43 percent.
Buyers and sellers were immediately not known.
Source: Bloomberg
Elara Securities On Punjab National Bank
- Stock Rating: Upgraded to 'Accumulate' from 'Sell'
- Price Target: Raised to Rs 184 from Rs 144, implying a potential upside of 16 percent from last regular trade.
Emkay Global On Ramco Cements
- Stock Rating: Downgraded to 'Reduce' from 'Hold'
- Price Target: Cut to Rs 678 from Rs 717, implying a potential downside from last regular trade.
Emkay Global On Entertainment Network India Ltd.
- Stock Rating: Upgraded to 'Buy' from 'Hold'
- Price Target: Cut to Rs 809 from Rs 850, implying a potential upside of 16 percent from last regular trade.
Kotak Securities On Gujarat Pipavav
- Stock Rating: Upgraded to 'Buy' from 'Hold'
- Price Target: Raised to Rs 180 from Rs 170, implying a potential upside of 32 percent from last regular trade.
Kotak Securities On KEC International
- Stock Rating: Upgraded to ' Buy' from 'Add'
- Price Target: Raised to Rs 455 from Rs 405, implying a potential upside of 25 percent from last regular trade.
Axis Capital On Siemens India
- Stock Rating: Downgraded to 'Sell' from 'Hold'
- Price Target: unchanged at Rs 1,115, implying a potential downside of 12 percent from last regular trade.
ICICI Securities on Century Plyboards
- Stock Rating: Upgraded to 'Buy' from Hold'
- Price Target: raised to Rs 370 from Rs 276, implying a potential upside of 18 percent from last regular trade.
Shares of the metal producer fell as much as 0.9 percent after erasing gains of as much as 2.9 percent after the Supreme Court quashed Goa iron ore mining permits.
A two-judge bench headed by Justice MB Lokur said fresh permits ought to have been given and second renewals done by Goa state was done in haste.
The court said Goa to grant mining leases afresh; state can decide if new mining leases have to be auctioned. It said the Ministry of Environment and Forests to decide on environment clearance to new permits for Goa iron ore mines.
The court also asks Goa to take steps to recover dues for illegal mining. The order on plea by a civil society group that challenged second permit renewal and green nods to Goa iron ore miners.
Shares of the country’s largest two-wheeler maker rose as much as 7.3 percent, the most in nearly six months to Rs 3,799.
The company’s net profit rose 4.3 percent year-on-year in October-December period, matching analyst estimates on strong quarterly sales and volume growth. (more details here).
Key Earnings Highlights:
- Revenue up 15 percent at Rs 7,305 crore.
- Profit up 4.3 percent at Rs 805 crore.
- EBITDA up 7.2 percent at Rs 1,158 crore.
- Margin at 15.9 percent versus 17 percent.
Shares of the Jaguar Land Rover owner rose as much as 3.4 percent to Rs 388, rebounding from the lowest in at least a year, from Rs 375.45
Jaguar Land Rover sales in the previous month stood ar 49,066 units, an increase of 3 percent from the corresponding month last year.
The stock fell 11 percent last month, compared to 0.5 percent advance in Sensex.
Shares of the drug maker extended decline for the fifth trading session and fell as much as 3.4 percent to Rs 390.85.
The U.S, drug regulator conducted a surprise audit at the company’s Moraiya plant, two sources, who were aware of the development told BloombergQuint on the condition of anonymity. (more details here.)
Trading volume was 4.7 times its 30-day average. The Relative Strength Index was 27, indicating that the stock may be oversold. The stock trades at 18.3 times estimates forward earnings per share, compared to 22 times for the two-year historical average.
- Shares of the consumer electrical equipment maker extended gains for the second day and rose as much as 8.6 percent, the most in over a month to Rs 485.
- The company won an overseas order worth $4.1 million, according to its stock exchange notification.
- Trading volume was 3.3 times its 20-day average. The stock has declined 5.8 percent since the beginning of the year.
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Shares of sugar makers rose after the government seeks to double import duty on bulk sugar to 100 percent.
- Bajaj Hindustan Sugar rose as much as 3.7 percent to Rs 13.89.
- Balrampur Chini rose as much as 4.1 percent to Rs 118.35.
- Shree Renuka advances 4.4 percent to Rs 15.45.
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How Indian ADRs fared overnight.https://t.co/4EI1p4cPFn pic.twitter.com/iA1AgzQCyc
— BloombergQuint (@BloombergQuint) February 7, 2018
Meanwhile, the rupee closed at 64.25 against the dollar on Tuesday from 64.07 a day before. This was the rupee’s lowest level since Dec. 14, 2017.
- In ban: Fortis Healthcare, HDIL, Jain Irrigation
- New in ban: Jain Irrigation
- Out of ban: India Cement, Wockhardt
Only intraday positions can be taken in stocks which are in F&O ban. In case of a rollover of these intraday positions, there is a penalty.
Porinju Veliyath (@porinju) wants investors to focus more on microeconomic fundamentals and not global macroeconomic developments.https://t.co/WEC7ZU6Cdr
— BloombergQuint (@BloombergQuint) February 6, 2018
#Q3WithBQ | Hero MotoCorp profit matches estimates on strong sales.https://t.co/tcRqQg4Z9m pic.twitter.com/pWBvttIfk4
— BloombergQuint (@BloombergQuint) February 6, 2018
- Aurobindo Pharma
- Cipla
- Eicher Motors
- BEML
- ICRA
- Indraprastha Gas
- Ipca Laboratories
- IRB Infra
- Kaveri Seed Company
- Polaris
- Prestige Estates
- Reliance Home Finance
- SRF
- Torrent Power
- Voltas
Other Earnings To Watch
- Circuit filter revised to 10 percent: Waterbase, Gini Silk, Virinchi .
- Circuit filter revised to 20 percent: Ramky Infra, HEG, Apex Frozen Foods, Talbros Auto, Morepen Labs, Centrum Capital, Unitech, Praj Industries, Ludlow Jute, Liberty Shoes, Archies, Adani Transmission
- Circuit filter revised to 5 percent: Vakrangee .
- Technocraft Industries buyback period from Feb. 7-22.
- Shilpi Cable Technologies shifted to B group from Z group.
- BEL last trading day before determining buyback eligibility.
Hedge fund SSG Capital buys Rs 2,500-crore Bhushan Steel loans, reports @visshy_it.https://t.co/NdDa6LLD8O pic.twitter.com/ksHdwFd3q0
— BloombergQuint (@BloombergQuint) February 6, 2018
$30 Billion hit looms for India banks on new accounting rule.https://t.co/NNdR0l4hHU pic.twitter.com/KscWptdE9G
— BloombergQuint (@BloombergQuint) February 6, 2018
RBI Policy Day Guide: No rate move but could communication change?https://t.co/M8SHidt2yj pic.twitter.com/cpUwiSKxIA
— BloombergQuint (@BloombergQuint) February 7, 2018
World Gold Council estimates up to 800 tonnes demand in 2018, below the five-year average in India.https://t.co/Sfaq4y2OKS pic.twitter.com/Gr5XtNUxdK
— BloombergQuint (@BloombergQuint) February 7, 2018
SGX Nifty 50 Futures gets back above 100-DMA. https://t.co/CkDvhQNxA4 pic.twitter.com/DSxMNDp1oY
— BloombergQuint (@BloombergQuint) February 7, 2018
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