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Sensex, Nifty Off Record Highs As RIL, Private Banks Drag

Sensex, Nifty Off Record Highs As RIL, Private Banks Drag
The Bombay Stock Exchange (BSE) building, left, looms over a no-entry street sign in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg)
8 years ago
Nifty futures on Singapore Exchange was little changed indicating a quiet start for Indian shares.

Shares of the Mumbai-based power generation company were trading 0.85 percent higher at Rs 47.20 after it reported October-December quarter earnings.

Key earnings highlights:

  • Net profit at Rs 280 crore versus Bloomberg estimate of Rs 336 crore (YoY).
  • Net profit up 1.6 percent at Rs 280 crore versus Rs 275.70 crore (YoY).
  • Revenue at Rs 2,490 crore versus Bloomberg estimate of Rs 2,670 crore (YoY).
  • EBITDA up 3.6 percent at Rs 1,195.8 crore versus Rs 1,154.5 crore (YoY).
  • Margin at 47.9 percent versus 41.6 percent (YoY).

Shares of the Mumbai-based data analytics service provider fell as much as 3.28 percent to Rs 1,535 after its profit missed consensus estimates compiled by Bloomberg.

Key earnings highlights:

  • Net profit at Rs 57.5 crore versus Bloomberg estimate of Rs 75.8 crore.
  • Net profit down 33 percent at Rs 57.5 crore versus Rs 86 crore (YoY).
  • Revenue at Rs 340 crore versus Bloomberg estimate of Rs 331 crore (YoY).

  • EBITDA at Rs 518 crore versus Rs 36.3 crore (YoY).

Shares of the Bangalore-based human resource and staffing firm were trading 0.8 percent higher at Rs 2,280 after it reported December quarter earnings.

Key earnings highlights:

  • Net profit jumps 100 percent to Rs 18.4 crore versus Rs 9.2 crore (YoY).
  • Revenue at Rs 920 crore versus Rs 810 crore (YoY).

Shares of the Mumbai-based life insurance service provider fell 1.7 percent to Rs 670 after it reported third quarter earnings.

Key earnings highlights (Nine month ended FY18 versus Nine month ended FY17):

  • Value of new business (VNB) stood at Rs 930 crore.
  • VNB margins at 16 percent
  • Annualised premium equivalent up by 39.3 percent at Rs 5,850 crore versus Rs 4,200 crore.
  • Market share increased to 23 percent versus 21.3 percent.
  • Profit after tax up 24.3 percent at Rs 770 crore versus Rs 620 crore.
  • 13th month persistency stood at 81.5 percent versus 79.8 percent.
  • 61st month persistency stood at 59.5 percent versus 69.6 percent.
  • Solvency ratio stood at 2.06 times versus 2.09 times.

Shares of the Delhi-based automobile air conditioning systems maker rose as much as 4.18 percent to Rs 374 after it reported October-December quarter earnings.

Key earnings highlights:

  • Net profit at Rs 16.4 crore versus Rs 83 lakh (YoY).
  • Revenue at Rs 447.56 crore versus Rs 366.39 crore (YoY).

Shares of the Mumbai-based drug maker rose as much as 1 percent to Rs 2,825 after it reported October-December quarter earnings.

Key earnings highlights:

  • Net profit at Rs 490 crore versus Rs 404 crore (YoY).
  • Revenue at Rs 2,860 crore versus Rs 2,342 crore (YoY).
  • Total costs at Rs 2,270 crore.

Shares of the Jalgaon-based irrigation system maker fell 1.5 percent to Rs 145.10 after it reported December quarter earnings.

Key earnings highlights:

  • Q3 consolidated other income at Rs 38.2 crore versus Rs 4.1 crore (YoY)
  • Q3 consolidated revenue up 30.8 percent at Rs 1889.6 crore versus Rs 1445 crore (YoY)
  • Q3 consolidated profit up 986 percent at Rs 66.9 crore versus Rs 6.1 crore (YoY)
  • Q3 consolidated EBITDA up 17.8 percent at Rs 222 crore versus Rs 188.5 crore (YoY)
  • Q3 consolidated margin at 11.8 percent versus 13 percent (YoY)

Shares of the Mumbai-based construction company fell 3.33 percent to Rs 203.25 after it fixed QIP issue price of Rs 202.25 which was at a discount of up to 5 percent to the floor price of Rs 213.20.

Shares of the Hyderabad-based drug maker came off day's low after it beat consensus Bloomberg estimates in October-December quarter.

Key earnings highlights:

  • Net profit at Rs 34.6 crore versus Bloomberg estimate of Rs 28.4 crore.
  • Net profit up 42.5 percent at Rs 34.6 crore versus Rs 24.2 crore (YoY).
  • Revenue up 41.6 percent at Rs 163.6 crore versus Rs 115.5 crore (YoY).
  • EBITDA up 40 percent at Rs 51.3 crore versus Rs 36.6 crore (YoY).

Shares of the Chennai-based two-wheeler maker fell as much as 3.5 percent, the most since Jan. 8, to Rs 694.05 after its net profit missed consensus Bloomberg estimates in October-December quarter.

Key earnings highlights:

  • Net profit at Rs 154 crore versus Bloomberg estimate Of Rs 168 crore
  • Net profit up 16 percent at Rs 154 crore versus Rs 133 crore (YoY)
  • Revenue at Rs 3,685 crore versus Bloomberg estimate of Rs 3,580 crore
  • Revenue 23 percent at Rs 3,685 crore versus Rs 2,983 crore (YoY)
  • EBITDA at Rs 286.79 crore versus Bloomberg estimate of Rs 283 crore
  • Margin at 7.8 percent versus Bloomberg estimate of 7.9 percent
  • EBITDA up 31.3 percent at Rs 286.79 crore versus Rs 218.4 crore (YoY)

  • Indian equity benchmarks held on to losses led by losses in Infosys, HDFC, Kotak Mahindra Bank and Larsen & Toubro.
  • The S&P BSE Sensex fell 0.55 percent or 203 points to 36,081 and the NSE Nifty 50 Index declined 0.65 percent to 73 points to 11,056.
  • The mid-cap and small-cap indices were in-line with the benchmarks. The S&P BSE MidCap Index fell 0.3 percent and the S&P BSE SmallCap Index tumbled 0.8 percent.
  • Fourteen out of 19 sector gauges compiled by BSE were trading lower led by the S&P BSE Information Technology Index's 1 percent drop. On the other hand, the S&P BSE Telecom Index was the top sectoral gainer, up 0.9 percent.
  • Top Nifty Gainers

    • Bharti Airtel up 2.8 percent
    • BPCL up 2 percent
    • HPCL up 1.6 percent
    • GAIL India up 1.3 percent
    • Indian Oil up 0.9 percent

    Top Nifty Losers

    • Eicher Motors down 2.5 percent
    • Asian Paints down 2 percent
    • Bharti Infratel down 2 percent
    • Kotak Mahindra Bank down 1.8 percent
    • Ambuja Cements down 1.8 percent

Shares of the Bangalore-based medical device maker rose as much as 4.9 percent, the most in over a month, to Rs 10.65 after it reported December quarter earnings.

Key earnings highlights:

  • Revenue at Rs 58.68 crore versus Rs 66.05 crore (YoY).
  • Net profit at Rs 8.38 crore versus loss of Rs 35.13 crore (YoY).

Shares of the Nagpur-based mining company rose as much as 4.5 percent to Rs 249.70 after the company informed stock exchanges that its board of directors will meet on Feb. 5 to consider share buyback proposal.

  • DLF has 18 lakh shares change hands in a block deal. Stock up 0.1 percent at Rs 254.30.
  • Yes Bank has 35 lakh shares change hands in a block deal. Stock down 0.49 percent at Rs 356.25.
  • Buyers and sellers were not immediately known

    Source: Bloomberg

Shares of the Haryana-based maker of polyester films, engineering plastics and specialty polymers were locked in 10 percent upper circuit at Rs 66.70 after it entered into a long-term agreement with Shaw Industries, USA to supply circa 2,500 tonnes per annum of its Stain Resistant Master Batch to Shaw Industries, Ester Industries said in a stock exchange filing.

Shares of the Anil Ambani-led telecom firm rose as much as 14.89 percent, the most in a month, to Rs 31.25 after its loss narrowed sharply in October-December quarter.

Key earnings highlights:

  • Revenue up 1 percent at Rs 1,144 crore.
  • Net loss of Rs 130 crore versus net loss of Rs 2,712 crore.
  • Ebitda up 0.5 percent at Rs 220 crore from Rs 219 crore,
  • Margin at 19.2 percent from 19.3 percent.

Shares of the Gurugram-based maker of air-conditioners made a stellar debut on stock exchanges. The stock opened 37.36 percent higher at Rs 1,180 against its issue price of Rs 859.

Amber Enterprises' Rs 600 crore IPO saw huge demand for its shares as its issue was subscribed 165.31 times.

Shares of the Kolkata-based beauty and healthcare products maker fell as much as 6.14 percent, the most in over seven months, to Rs 1,154.85 after it missed consensus Bloomberg estimates in October-December quarter.

Key earnings highlights:

  • Revenues rose 4.22 percent to Rs 756.64 crore versus Bloomberg estimate of Rs 817 crore.
  • Net profit rose 9.7 percent to Rs 149.07 crore versus Bloomberg estimate of Rs 221 crore.
  • Total costs at Rs 492 crore.

Shares of the Pune-based applications software maker fell as much as 4 percent to Rs 200 after it fixed open offer price of Rs 182 for minority shareholders of KPIT.

KPIT and the CK Birla Group owned Birlasoft, will work closely to first merge Birlasoft into KPIT and later split the combined entity of KPIT and Birlasoft into two public companies, the company said in a press release.

  • Should be worried about oil rally and its implications on the market.
  • Hope some tax anomalies are addressed in the budget.
  • India continues to attract money.
  • Some major uncertainties exist for India.
  • Results so far have shown 18 percent profit growth.

  • Ashoka Buildcon
  • AU Small Finance Bank
  • Bharat Electronics
  • Bharat Financial Inclusion
  • Blue Dart Express
  • Care Ratings
  • Cholamandalam Investment And Finance
  • Eclerx Services
  • Engineers India
  • GIC Housing Finance
  • Godrej Consumer Products
  • Graphite India
  • Gravita India
  • IFB Industries
  • Jain Irrigation Systems
  • Johnson Hitachi
  • Lakshmi Vilas Bank
  • Oberoi Realty
  • Oriental Bank Of Commerce
  • Piramal Enterprises
  • Reliance Power
  • SBI Life Insurance
  • Shankara Building Products
  • Somany Ceramics
  • Teamlease Services
  • TVS Motor

UBS on Future Consumer

  • Initiated ‘Buy’ with price target of Rs 85.
  • Future Consumer at an inflection point in terms of revenue growth.
  • Key beneficiary of growth spillover into private brands.
  • FCL continues to grow aggressively.
  • Improving product mix is helping to increase gross margin and profitability.
  • Investors do not fully appreciate its ability to turn profitable in the medium term.
  • Future Consumer to turn profitable in the next financial year; Expect company to post net profit of Rs 56.5 crore in the next fiscal.
  • Has strongest growth; Expect revenue to compound at 49 percent over the financial years through March 2022.
  • Expect Ebitda margin to expand by 550 basis points over the financial years through March 2022.
  • Investors do not fully realise company's ability to turn profitable in medium term.
  • Bull Case price target of Rs 110.

Elara Capital on BLS International

  • Initiated ‘Buy’ with price target of Rs 315.
  • BLS with its niche expertise to double market share by March 2019 from current 4 percent.
  • Positives: asset-light model; high FCF yield & low on capex.
  • Underpenetrated industry; Outsourcing trend catching on.
  • Tourist arrivals outlook remains stable.
  • Game-changers: Spain global visa, Punjab eGovernance contracts.
  • Spain, Punjab deals to bolster growth.
  • Expect revenue, operating income and net profit to grow at a compounded rate of 19 percent, 42 percent and 47 percent respectively over the financial years through March 2020.

Nomura on HDFC

  • Maintained ‘Buy’ with a price target of Rs 2,000.
  • Core NII performance supported by stable spreads.
  • Core mortgage profit supported by improving growth trends and stable spreads.
  • Mortgage growth bottomed out; Asset quality stable.
  • Subs continue to add value for HDFC.
  • Recent re-rating limits near-term upside.

Credit Suisse on HDFC

  • Maintained ‘Outperform’; raised price target to Rs 2,250
  • December quarter was another steady quarter; NIMs should improve in current quarter.
  • Strong loan growth; Stable spreads.
  • Consolidated profitability remains strong with return on equity at 21 percent.
  • NPAs were flat and management not seeing any stress in affordable housing segment.

Macquarie on Emami

  • Maintained ‘Outperform’ with price target of Rs 1,314.
  • December quarter’s operating income was below estimates led by very weak performance of Kesh King.
  • Kesh King declined on account of challenges in wholesale and rural markets.
  • Pressure form Kesh Kanti (Patanjali) also leading to weakness.
  • Operating margin lower than expected on higher A&P spend.
  • Operating growth trajectory needs to pick-up significantly for re-rating.

Citi on Emami

  • Maintained ‘Buy’ with a price target of Rs 1,270.
  • December quarter’s earnings missed expectations led by subdued top-line.
  • Declines in Kesh King and healthcare segments were key issues.
  • Growth in December quarter has disappointed, though base quarter volumes were flattish.
  • Impact of demonetisation/GST transition appears to be more prolonged.
  • Recovery in rural India and efforts on sales to be crucial.

Credit Suisse on Tech Mahindra

  • Maintained ‘Outperform’; raised price target to Rs 720 from Rs 700.
  • Another quarter demonstrating turnaround well on track.
  • Margin expansion is key positive surprise in previous quarter.
  • Enterprise business is solidly poised and should benefit of cyclical tailwind as well.
  • More steam left; Expect EBIT to compound at 16 percent over the financial years through March 2020.

  • Tata Power CEO Anil Sardana resigns.
  • Ester Industries enters into a long term agreement with Shaw Industries to supply circa 2,500 tonnes per annum of its stain resistant Master Batch.
  • HCL Tech announced a 5-year IT infrastructure services and application mgmt contract with Cadent.
  • Inox Leisure to acquire 50 percent stake in Swanston Multiplex Cinemas.
  • Mylan and Biocon receive positive CHMP opinion for Semglee, Biosimilar Insulin Glargine.
  • Rushil Decor starts commercial production of WPC Boards at Karnataka facility.
  • ICICI Bank to acquire 9.90 percent stake in FTL Technology Systems.
  • JSW Steel is said to offer Rs 3,700 crore for Monnet Ispat (PTI)
  • Religare Finvest to consider buyback of up to 50 crore shares.
  • SpiceJet announces 20 new non-stop flights on local routes.
  • MOIL to consider buy back of equity shares on Feb. 5.
  • Snowman Logistics opens new temperature-controlled warehousing facility at Andhra.
  • India Nippon board approves 2:1 stock split.

  • Polaris Consulting acquisition window for delisting from Jan. 30 to Feb. 5.
  • Indian Power Corporation Limited (DPSC) two day offer for sale starts today
  • Gayatri projects shifted to T group.
  • Tata Steel and Piramal Enterprises last trading day before going ex rights basis.
  • IKF Technologies circuit filter revised to 10 percent.

  • Amber Enterprises lists today. Base price Rs 859 per share. Issue was subscribed 165 times.
  • Galaxy Surfactants IPO continues on day 2. Issue fully subscribed on day 1.

  • Piramal Enterprises: East Bridge Capital bought 25.3 lakh shares at Rs 2804; Seller Morgan Stanley.
  • Bhushan Steel: EARC Trust sold 33.1 lakh shares at Rs 59.74.
  • HOEC: Poddar Pigments sold 9.9 lakh shares at Rs 137.
  • Rushil Decor: Aspire Emerging Fund bought 80,000 shares at Rs 978.
  • Newgen Software Tech

    • Malabar India Fund bought 8.2 lakh shares at Rs 252.9.
    • Ecap Equities sold 4.3 lakh share at Rs 258.5.

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