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Sensex Ends Above 38,000 For First Time Led By Banks

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Sensex Ends Above 38,000 For First Time Led By Banks
A broker reacts while looking at financial data on computer screens. (Photographer: Luke MacGregor/Bloomberg)
8 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India was little changed at 11,474 as of 7:24 a.m.
Aug 09, 2018 15:43 (IST)
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Aug 09, 2018 15:28 (IST)
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Shares of the Chennai-based tyre maker fell as much as 1.66 percent to Rs 75,379 after it reported June quarter earnings.

Key earnings highlights:

  • Revenue up 8.1 percent at Rs 3,855.6 crore versus Rs 3,566.6 crore
  • Net profit up 144.8 percent at Rs 260.7 crore versus Rs 106.5 crore
  • Ebitda up 116.4 percent at Rs 595.3 crore versus Rs 275.1 crore
  • Margin at 15.4 percent versus 7.7 percent

Aug 09, 2018 14:44 (IST)
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Aug 09, 2018 14:09 (IST)
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Aug 09, 2018 13:47 (IST)
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  • Sudarshan Chemicals: The Pune-based chemical maker rose as much as 5.8 percent to Rs 510. Trading volume was 3.1 times its 20-day average.
  • Schaeffler India: The Mumbai-based fabricated metal products maker rose as much as 2.6 percent to Rs 5,425. Trading volume was 6 times its 20-day average.
  • Sheela Foam: The Ghaziabad-based mattress maker rose as much as 4.6 percent to Rs 1,536. Trading volume was 7.2 times its 20-day average.
  • JP Associates: The Noida-based industrial conglomerate fell as much as 10 percent to Rs 13.50. Trading volume was 6.8 times its 20-day average.
Aug 09, 2018 13:27 (IST)
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  • Bank of Baroda has 15.2 lakh shares change hands in a blocks deal. Stock up 5 percent at Rs 156.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Aug 09, 2018 13:15 (IST)
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Which Stocks Will Get MSCI Index Entry Ticket? Analysts Ponder

Aug 09, 2018 13:06 (IST)
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Click here for more stock market statistics

Aug 09, 2018 12:48 (IST)
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Shares of the Mumbai-based chemical maker fell as much as 5.3 percent, the most in over two months, to Rs 572.60 after its profit declined in June quarter.

Key earnings highlights:

  • Net profit dips 26 percent to Rs 28.9 crore versus Rs 38.9 crore (YoY)
  • Revenue at Rs 1,496 crore versus Rs 1,425 crore (YoY)

Aug 09, 2018 12:33 (IST)
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Shares of the Ahmedabad-based bathroom accessories maker rose as much as 1.6 percent to Rs 3,100 after it reported June quarter earnings.

Key earnings highlights:

  • Revenue up 19.7 percent at Rs 280.7 crore versus Rs 234.6 crore
  • Net profit up 6.2 percent at Rs 20.5 crore versus Rs 19.3 crore
  • Ebitda up 6.6 percent at Rs 35.3 crore versus Rs 33.1 crore
  • Margin at 12.6 percent versus 14.1 percent

Aug 09, 2018 12:22 (IST)
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Shares of the Mumbai-based fans and lighting products maker rose as much as 3.85 percent to Rs 648 after it reported June quarter earnings.

Key earnings highlights:

  • Revenue up 11.7 percent at Rs 1,139.9 crore versus Rs 1,020.5 crore
  • Net profit up 97.6 percent at Rs 40.5 crore versus Rs 20.5 crore
  • EBITDA up 76.5 percent at Rs 79.8 crore versus Rs 45.2 crore
  • Margin at 7 percent versus 4.4 percent

Aug 09, 2018 12:17 (IST)
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  • Bharti Airtel has 10 lakh shares change hands in a block. Stock down 4.5 percent at Rs 367.95.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Aug 09, 2018 12:11 (IST)
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Shares of the Pune-based auto component maker rose as much as 4.27 percent to Rs 709 after its profit met Bloomberg consensus estimates in June quarter.

Key earnings highlights:

  • Revenue down 1 percent at Rs 1,328 crore versus Rs 1,340.7 crore
  • Net profit down 17.6 percent at Rs 183 crore versus Rs 222.2 crore; Estimate of Rs 188 crore
  • Ebitda up 10 percent at Rs 214.8 crore versus Rs 195.2 crore
  • Margin at 16.2 percent versus 14.6 percent

Aug 09, 2018 11:34 (IST)
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Nifty Bank 28,300 strike price call option contract was among the most active option contracts on the National Stock Exchange ahead of weekly expiry.

Premium on the contract surged 99 percent to Rs 25.90. Over 14.5 lakh shares were added to the open interest which stood at over 21.58 lakh shares.

Aug 09, 2018 10:40 (IST)
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Aug 09, 2018 11:18 (IST)
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Shares of the Bhubaneswar-based aluminium producer rose as much as 9 percent, the most in nearly four months, to Rs 73.55 after it reported strongh June quarter earnings.

Key earnings highlights:

  • Revenue up 64.9 percent at Rs 2,973.3 crore
  • Net profit at Rs 687.1 crore versus Rs 128.9 crore
  • Ebitda at Rs 1,011.1 crore versus Rs 227.5 crore
  • Margin at 34 percent versus 12.6 percent

Aug 09, 2018 10:49 (IST)
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Shares of the Noida-based construction company rose as much as 4.9 percent to Rs 5.14 after Supreme Court ordered for fresh invitation of bids for insolvency process.

Supreme Court said:

  • 180-day deadline to begin from today's order
  • Committee of Creditors to be constituted afresh

Aug 09, 2018 10:21 (IST)
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Here’s What Analysts Made Of HPCL And BPCL Quarterly Performance

Aug 09, 2018 10:09 (IST)
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  • Unitech has 11 lakh shares change hands in a block. Stock up 7.4 percent at Rs 4.35.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Aug 09, 2018 10:02 (IST)
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  • Reliance Communications has 62.8 lakh shares change hands in three blocks. Stock rose as much as 10.87 percent to Rs 20.40.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

Aug 09, 2018 09:45 (IST)
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Shares of the Mumbai-based packaging company rose as much as 6.2 percent to Rs 118, as promoters are exploring to sell their controlling interest in the company as global consolidation grips the sector, The Economic Times reported citing unknown people aware of the developments.

Aug 09, 2018 09:38 (IST)
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Shares of the Pune-based auto parts maker rose as much as 2.1 percent to Rs 652.90 after the company's profit rose 34 percent on a yearly basis during April-June period.

Key earnings highlights:

  • Revenue up 23 percent at Rs 1,480 crore
  • Net profit up 34 percent at Rs 234 crore
  • Ebitda up 29 percent at Rs 428 crore.
  • Margin at 28.9 percent versus 27.6 percent

Aug 09, 2018 09:25 (IST)
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Aug 09, 2018 08:09 (IST)
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Nomura on ACC

  • Upgraded to ‘Buy’ from ‘Neutral’; raised target price to Rs 1,900 from Rs 1,890.
  • After correction, valuations are no longer demanding.
  • Cycle uptrend has begun; Earnings recovery on track.
  • Volume upside limited, but may surprise on realisations/costs.

Nomura on Ambuja

  • Upgraded to ‘Buy’ from ‘Neutral’; cut target price to Rs 295 from Rs 300.
  • Post-correction valuations attractive.
  • As demand growth continues, earnings outlook looks better.
  • New capacity improves volume outlook.
  • See synergy benefits to improve after master supply agreement.

Deutsche Bank on Siemens India

  • Maintained ‘Hold’; cut target price to Rs 1,070 from Rs 1,150.
  • Reported a solid net profit growth, but flat on order inflows.
  • Thesis of good revenue growth but weak orders is playing out.
  • Expect single-digit revenue growth in 2018-19.

IDFC Securities on Strides Shasun

  • Maintained ‘Outperform’ with a target price of Rs 613.
  • Q1 positives: Higher U.S. and institutional business.
  • Management expects pick up in U.S. business from October onwards
  • Remain positive given strong position in Australia and growth potential in the U.S.

UBS on SRF

  • Maintained ‘Buy’ with a target price of Rs 2,500.
  • Riding on packaging film and guiding strong.
  • Packaging strong due to higher realization, currency tailwinds, volume uptick and inventory gains.
  • Management maintained strong growth guidance for specialty chemical.

Brokerages On BPCL

SBICAP Securities

  • Maintained ‘Buy’ with a target price of Rs 526.
  • June quarter’s net profit above estimates purely driven by higher than expected inventory gains.
  • Refining core performance was weak with lower core GRM and higher opex.
  • Marketing inventory gain was higher than expected.
  • Temporary pause in price hike doesn’t change structural deregulation story.

Nomura

  • Maintained ‘Buy’ with a target price of Rs 555.
  • Large inventory gains was a key reason for the beat.
  • Strong marketing margins adjusted for inventory gains.
  • Near-term focus will likely remain on retail prices of diesel/petrol.
  • Continue to believe OMCs should be able to pass on cost increases.

Brokerages On HPCL

JPMorgan

  • Maintained ‘Underweight’; cut target price to Rs 260 from Rs 295.
  • Large inventory gains drove earnings beat.
  • Underlying refining sharply weaker.
  • HPCL's older refineries means not ideally positioned for IMO.
  • Remain underweight given confluence of headwinds.

Nomura

  • Maintained ‘Buy’ with a target price of Rs 415.
  • Large inventory gains was a key reason for the beat.
  • Marketing apart from inventory gains remained strong.
  • Near-term focus will likely remain on retail prices of diesel/petrol.
  • Continue to believe OMCs should be able to pass on cost increases.

Brokerages On Cipla

CLSA

  • Maintained ‘Buy’; raised target price to Rs 760 from Rs 650.
  • Operationally in-line, Net profit beat on higher other income.
  • US ramp-up weak but should pick up in the second half of the current financial year.
  • Expect margin expansion to continue as U.S. sales ramp up.

Morgan Stanley

  • Maintained ‘Overweight’ with a target price of Rs 716.
  • June quarter came in line; steady improvement under way.
  • Top-line growth to be driven across geographic segments.
  • U.S. Margins are poised to improve.
  • Complex launches, cost control and better revenue mix to aid.
  • Reasonable valuations keep us overweight.

Brokerages On Lupin

Credit Suisse

  • Downgraded to ‘Underperform’ from ‘Neutral’; cut target price to Rs 715 from Rs 770
  • Sharp erosion in U.S. sales; price erosion to accelerate with increasing approvals.
  • June quarter had no one-offs in U.S.; Current weak base is the new normal.
  • Expect earnings to remain subdued for the next two quarters.

JPMorgan

  • Maintained ‘Neutral’ with a target price of Rs 760.
  • Lower U.S. revenues leads to margin miss.
  • Margins weak despite lower R&D and other expenses.
  • Erosion in US business and margin reset is concerning.
  • Few catalysts for earnings recovery in the near term.

Brokerages On Sobha

CLSA

  • Maintained ‘Buy’ with a target price of Rs 764.
  • June quarter results were steady amidst major accounting change.
  • Non-Bengaluru presales drive performance; Expect acceleration ahead.
  • Contracting business is seeing good growth.
  • Accounting changes drive financial adjustments.

Deutsche Bank

  • Maintained ‘Buy’ with a target price of Rs 550.
  • Started new fiscal with steady operational and financial performance.
  • New launch momentum accelerated over the quarter.
  • See improved performance in contract and manufacturing units.

Aug 09, 2018 08:05 (IST)
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Who’s Meeting Whom
  • Mahindra and Mahindra Financial services to meet investors on Aug. 09.
  • Wipro to meet investors on Aug. 09.

Insider Trades

  • Chambal Fertilizers promoter acquired 37,000 shares on Aug. 07.
  • Nocil promoter Navin Fluorine International Limited sold 2 lakh shares from Aug. 3-6.

(As reported on Aug. 8)

Aug 09, 2018 08:04 (IST)
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Bulk Deals
  • Selan Exploration: Dolly Khanna bought 1.04 lakh shares or 0.6 percent equity at Rs 244.03 each.
  • Sunteck Realty: DSP Blackrock MF bought 9.50 lakh shares or 0.6 percent equity at Rs 415.5 each.
  • Vindhya Telelinks: Aequitas Investment Consultancy bought 1.59 lakh shares or 1.3 percent equity at Rs 1333.28 each.

F&O Cues

  • Nifty August futures ended at 11,467.6, with a premium of 17.6 points versus 29 points.
  • August series: Nifty open interest (OI) up 3 percent; Bank Nifty open interest down 2 percent.
  • India VIX ended at 12.5, up 0.3 percent.
  • Max open interest for August series call at 11,500 strike price call option (Open interest at 36.4 lakh shares, down 5 percent)
  • Max open interest for August series put at 11,000 strike price put option (Open interest at 52.4 lakh shares, up 3 percent)
Aug 09, 2018 07:54 (IST)
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NALCO (Q1, YoY)

  • Revenue up 64.9 percent at Rs 2,973.3 crore.
  • Net profit at Rs 687.1 crore versus Rs 128.9 crore.
  • Ebitda at Rs 1,011.1 crore versus Rs 227.5 crore .
  • Margin at 34 percent versus 12.6 percent.

Siemens (Q3, YoY)

  • Revenue up 15.9 percent at Rs 3,073 crore.
  • Net profit up 25.5 percent at Rs 204.4 crore.
  • Ebitda up 33.4 percent at Rs 302.3 crore.
  • Margin at 9.8 percent versus 8.5 percent.

Trent (Q1, YoY)

  • Revenue up 19.5 percent at Rs 590.6 crore.
  • Net profit up 0.5 percent at Rs 38.4 crore.
  • Ebitda up 21.2 percent at Rs 71 crore.
  • Margin at 12 percent versus 11.9 percent.

Phoenix Mills (Q1, YoY)

  • Revenue up 4.4 percent at Rs 413.2 crore.
  • Net profit up 40.1 percent at Rs 59.7 crore.
  • Ebitda up 11 percent at Rs 195.4 crore.
  • Margin at 47.3 percent versus 44.5 percent.

Indian Bank (Q1, YoY)

  • Net interest income up 23.8 percent at Rs 1,807 crore.
  • Net profit down 43.8 percent at Rs 209.3 crore.
  • Provisions at Rs 456.6 crore versus Rs 1,772 crore (QoQ)
  • GNPA at 7.2 percent versus 7.37 percent (QoQ)
  • NNPA at 3.79 percent versus 3.81 percent (QoQ)

Sadbhav Infrastructure Project (Q1, YoY)

  • Revenue up 58.8 percent at Rs 797.6 crore.
  • Net loss at Rs 65.6 crore versus net loss at Rs 116.1 crore.
  • Ebitda up 25.5 percent at Rs 283.5 crore.
  • Margin at 35.5 percent versus 45 percent.

Blue Star (Q1, YoY)

  • Revenue flat at Rs 1,507.8 crore.
  • Net profit up 20.2 percent at Rs 91.6 crore.
  • Exceptional gain of Rs 15 crore in current quarter.
  • Ebitda up 23.7 percent at Rs 136.7 crore.
  • Margin at 9.1 percent versus 7.3 percent.

Thermax (Q1, YoY)

  • Revenue up 18.8 percent at Rs 1,035.3 crore.
  • Net profit up 20.7 percent at Rs 49 crore.
  • Ebitda down 3.9 percent at Rs 69.4 crore.
  • Margin at 6.7 percent versus 8.3 percent.

Quick Heal Technologies (Q1, YoY)

  • Revenue up 78 percent at Rs 52.8 crore.
  • Net profit at Rs 6.4 crore versus loss of Rs 11.8 crore.
  • Ebitda up at Rs 9.3 crore versus loss of Rs 15.8 crore.
  • Margin at 17.6 percent.

Aug 09, 2018 07:52 (IST)
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CreditAccess Grameen IPO: Here’s All You Need To Know

Aug 09, 2018 07:49 (IST)
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  • HPCL plans Rs 8,400 crore capex in 2018-19; to setup unit in UAE to expand Africa and Middle East market.
  • Apollo Pipes board proposed issuance of 9.5 lakh shares to promoters.
  • Pidilite Industries plans to invest $500,000 in U.S. arm.
  • PNB in talks with Income Tax, Excise departments to sell erstwhile headquarters. (PTI)
  • BPCL says Mumbai refimnery operations normal after hydrocracker fire
  • TCS says Digitate Automation now has 50-plus clients
Aug 09, 2018 07:46 (IST)
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Aug 09, 2018 07:27 (IST)
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Here are some key events coming up this week:

  • Samsung Electronics is set to unveil its next Galaxy Note smartphone on Thursday.
  • U.S. consumer prices probably rose in July from June, consistent with a pickup in inflation that’s projected to keep the Federal Reserve on a path of gradual interest-rate increases, economists forecast before Friday’s release.

Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.

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