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Sensex, Nifty Halt Three-Day Gains; Mid And Small Caps Underperform

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Sensex, Nifty Halt Three-Day Gains; Mid And Small Caps Underperform
A man uses a smartphone to photograph the Bombay Stock Exchange (BSE) building in Mumbai. (Photographer: Prashanth Vishwanathan/Bloomberg)
8 years ago
Eicher Motors will be in focus today after its earnings miss, while Asian Paints, Titan and Zee will report Q4. 
May 10, 2018 15:55 (IST)
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May 10, 2018 08:05 (IST)
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May 10, 2018 15:28 (IST)
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Fairchem Speciality: The Gujarat-based chemical maker rose as much as 8.2 percent to Rs 455 after its net profit more than tripled in March quarter.

Key earnings highlights:

  • Revenues up 41 percent at Rs 315 crore versus Rs 224 crore
  • Net profit up 237.5 percent at Rs 27 crore versus Rs 8 crore
  • EBITDA up 161.5 percent at Rs 51 crore versus Rs 19.5 crore
  • Margins at 16.2 percent versus 8.7 percent

Future Consumer: The Mumbai-based packaged food maker rose as much as 9.36 percent to Rs 61.95 as after founder Kishore Biyani said the group was looking to sell a minimum of 10 percent stake to a global retailer.

Mukta Arts: The Mumbai-based film maker rose as much as 17.71 percent, the most in nearly six months, to Rs 72.10. Mukta Arts' film training institute Whistling Woods has partnered with Reliance Jio to set up a virtual reality lab named 'Whistling Woods Jio VR Lab'.

Eicher Motors: The Delhi-based Royal Enfield bike maker rose as much as 2.94 percent, the most in two weeks, to Rs 31,207 despite missing Bloomberg consensus estimates in the March quarter as brokerages remain upbeat on demand outlook.

CLSA in a note said:

  • Management was positive on the RE demand outlook on conference call
  • Next phase of capacity expansion corroborates healthy demand outlook

Deutsche Bank in a note said:

  • Volume growth momentum should continue in FY19
  • Forecast RE volume CAGR (FY18-20 at 15 percent which should drive EPS CAGR of 23 percent)
  • Management highlighted that volume growth had started to again pick up in the larger markets

May 10, 2018 15:20 (IST)
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  • Idea Cellular has 14 lakh shares change hands in a block on BSE. Shares fall4 percent to Rs 58.30
  • Federal Bank has 30 lakh shares change hands in two blocks. Stock down 11.42 percent at Rs 89.60.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

May 10, 2018 14:29 (IST)
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Shares of the parent company of Binani Cements surged 7 percent to Rs 94.50 after the Supreme Court rejected Dalmia Bharat's plea on Binani Cements' sales process

  • Top court said that it won't interfere in Binani Cements sales process.

May 10, 2018 14:23 (IST)
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Shares of the Mumbai-based company rose as much as 14 percent to Rs 174.80 after its profit jumped nearly four-fold.

Key earnings highlights:

  • Consolidated margin at 11.2 percent versus 0.4 percent (YoY)
  • Consolidated EBITDA at Rs 45.2 crore versus Rs 80 lakhs (YoY)
  • Consolidated revenue up 2.4 times at Rs 405.3 crore versus Rs 182 crore (YoY)
  • Consolidated net profit up nearly 4 times at Rs 25.2 crore versus Rs 6.7 crore (YoY)

Commenting on March quarter earnings company’s management said:

  • Expect revenue growth to double up for FY19 and 20
  • Profit margin of 11-12 percent for infra to continue for next 2 years
  • New order inflows to be in range of Rs 7,000 crore in FY19 versus Rs 4,000 crore in FY18
  • Expect order book to stand at Rs 12,000 crore for FY19
  • Order backlog stands at Rs 3,500 crore in FY18

May 10, 2018 14:16 (IST)
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May 10, 2018 14:00 (IST)
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Israel Hits Iranian Positions in Syria After Missile Barrage

May 10, 2018 13:36 (IST)
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May 10, 2018 13:27 (IST)
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Shares of the Mumbai-based paint maker were trading 0.2 percent higher at Rs 1,224 ahead of March quarter earnings.

Here is what to expect from Asian Paints in March quarter:

  • Revenues seen up 11.9 percent at Rs 4421 crore versus Rs 3952 crore
  • EBITDA seen up 17.1 percent at Rs 834 crore versus Rs 712 crore
  • Margins seen at 18.9 percent versus 18 percent
  • Net profit seen up 17.3 percent at Rs 542 crore versus Rs 462 crore

Source: Bloomberg

May 10, 2018 12:54 (IST)
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Click here for more stock market data

May 10, 2018 12:43 (IST)
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Shares of the companies under the aegis of the Future Group surged after founder Kishore Biyani said the group was looking to sell a minimum of 10 percent stake to a global retailer. This comes on the back of the mega Walmart-Flipkart deal that was announced yesterday.

May 10, 2018 12:03 (IST)
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Shares of the Mumbai-based film maker rose as much as 17.71 percent, the most in nearly six months, to Rs 72.10.

Mukta Arts' film training institute Whistling Woods has partnered with Reliance Jio to set up a virtual reality lab named 'Whistling Woods Jio VR Lab'.

May 10, 2018 11:56 (IST)
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Click here to see complete options chain

May 10, 2018 11:52 (IST)
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  • Infibeam Incorporation has 20 lakh shares change hands in a block. Stock down 0.4 percent at Rs 167.85.

    • Buyers and sellers were not immediately known

    Source: Bloomberg

May 10, 2018 12:38 (IST)
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May 10, 2018 11:31 (IST)
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Shares of the Kalol-based water storage tank maker slumped 7.4 percent to 50.05 after it reported loss in March quarter.

Key earnings highlights:

  • Revenue down 3 percent at Rs 1293 crore
  • Net loss of Rs 12 crore from net profit of Rs 52 crore
  • Ebitda down 36 percent at Rs 118 crore
  • Margin at 9.1 percent from 13.9 percent

May 10, 2018 11:08 (IST)
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Domestic sales of passenger vehicles in India rose 7.5 percent in April from a year ago, the Society of Indian Automobile Manufacturers or SIAM announced in New Delhi today.

  • Passenger car sales rose 4.9 percent
  • Passenger vehicles sales rose 7.5 percent
  • Trucks, bus sales jumped 76 percent
  • Two-wheeler sales rose 16.9 percent

Percent change from year ago

Source: SIAM Data

May 10, 2018 12:37 (IST)
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May 10, 2018 10:37 (IST)
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May 10, 2018 10:27 (IST)
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Shares of the parent of Mumbai-based D-Mart department store operator fell as much as 2.12 percent to Rs 1,417.

Citi Research has initiated coverage on the stock with a 'sell' for target price of Rs 1,255, indicating downside of 13 percent from yesterday's close of Rs 1,448.

Citi said in a note:

  • D-Mart's small free-float/liquidity factors may have swayed stock performance/valuations
  • Slower growth or more modest margin delivery on elevated expectations can hurt
  • Q4FY18 results have missed the elevated expectations, both in terms of revenues and profits
  • Could see a shift away from D-Mart’s proven store ownership model
  • Ratio of owned to leased stores could move to 80/20 (versus around 87/13 as of now)
  • Higher ratio of owned to leased stores could weigh on D-Mart’s margins
  • Competitive dynamics in the e-commerce market could impact overall profitability

May 10, 2018 10:04 (IST)
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JSPL March Quarter Losses Widen Sixfold Due To One-Time Payment

May 10, 2018 12:35 (IST)
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May 10, 2018 10:00 (IST)
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Shares of the Kerala-based private sector lender fell as much as 12.75 percent, the most in over 30 months, to Rs 88.25 after its asset quality deteriorated and provisioning surged in March quarter.

Key earnings highlights:

  • Net interest income up 11 percent at Rs 933 crore versus 842.39 crore (YoY)
  • Net profit down 44 percent at Rs 145 crore versus Rs 256.59 crore (YoY)
  • Provisions up 129 percent at Rs 371.5 crore from Rs 162 crore (QoQ)
  • GNPA as a percentage of total advances at 3.0 percent versus 2.52 percent (QoQ), the highest level in at least last eight quarters.
  • NPA as a percentage of total advances at 1.69 percent versus 1.36 percent (QoQ)

May 10, 2018 09:43 (IST)
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Eicher Motors Q4 Profit Misses Lowest Analyst Estimates 

May 10, 2018 12:33 (IST)
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May 10, 2018 09:21 (IST)
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May 10, 2018 09:06 (IST)
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  • Indian rupee fell 10 paise or 0.14 percent to 67.37 per doallar against yesterday's close of 67.25.
May 10, 2018 08:25 (IST)
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May 10, 2018 07:49 (IST)
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Trading Tweaks
  • Sunil Hitech Engineers Ltd. placed under added surveillance by BSE.
  • Deccan Gold Mines shifted to XT group from T group.

May 10, 2018 07:49 (IST)
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On Eicher Motors

CLSA

  • Maintain ‘Buy’ with target price Rs 39,300
  • Management was positive on the RE demand outlook on conference call
  • Next phase of capacity expansion corroborates healthy demand outlook

Deutsche Bank

  • Maintain ‘Buy’ raises target price to Rs 34,500 from Rs 34,000
  • Volume growth momentum should continue in FY19
  • Forecast RE volume CAGR (FY18-20 at 15 percent which should drive EPS CAGR of 23 percent)
  • Management highlighted that volume growth had started to again pick up in the larger markets

CLSA on Arvind

  • Maintain ‘Buy’, raises target price to Rs 557 from Rs 524
  • Focus shifts to proposed demerger post strong beat led by the B&R business
  • B&R cashflows addressed investor concerns on Arvind’s ability to fund its own growth
  • Profitability of B&R at an inflexion point while strong capacity expansion ahead for Textiles

Deutsche Bank on Federal Bank

  • Maintain ‘Buy’ cuts target price to Rs 120 from Rs 130
  • Cleaning up impacts earnings but core trends are also a shade weaker
  • Operating metrics were also weak leading to weak NII growth

Credit Suisse on Persistent Systems

  • Maintain ‘Outperform’ with target price of Rs 960
  • Growth and margin expansion story intact; valuations attractive
  • Management indicates Q4 revenue miss in IBM alliance unit was not structural
  • Better momentum in services, ample scope for growth in digital

Nomura on Lupin

  • Maintain ‘Buy’ with target price of Rs 1,078
  • Japan Enbrel biosimilar filing is a positive
  • Estimate global sales of $8.3 billion at the manufacturer level
  • Would use any falls from here as an opportunity to accumulate

Deutsche Bank on ABB India

  • Maintain ‘Hold’ cuts target price to Rs 1,210 from Rs 1,230
  • Risk of slippage to single digit growth
  • Stock trades at a high valuation despite weak growth prospects

May 10, 2018 07:44 (IST)
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Other Earnings
  • Adani Enterprises
  • Adani Transmission
  • Apollo Tyres
  • Chennai Petroleum Corporation
  • Indian Bank
  • Mphasis
  • Nestle India
  • Shankara Building Products
  • Tata Communications
  • TV Today Network
  • Ujjivan Financial Services
  • Union Bank Of India
  • Welspun Enterprises

May 10, 2018 07:43 (IST)
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JSPL (Q4, YoY)

  • Revenue up 37 percent at Rs 8599 crore
  • Net loss of Rs 308 crore from net loss of Rs 49.5 crore
  • Ebitda up 38 percent at Rs 2,136.5 crore
  • Margin at 24.8 percent from 24.7 percent
  • One-time exceptional expense of Rs 437.6 crore

Eicher Motors (Q4, YoY)

  • Revenue up 33.9 percent at Rs 2528 crore
  • Ebitda up 36.3 percent at Rs 797.2 crore
  • Net profit up 0.5 percent at Rs 461.5 crore
  • Margin at 31.5 percent from 31 percent

Sharda Cropchem (Q4, YoY)

  • Revenue up 29 percent at Rs 769 crore
  • Net profit up 14.5 percent at Rs 113 crore
  • Ebitda up 21 percent at Rs 197 crore
  • Margin at 25.7 percent from 27.3 percent

Kokuyo Camlin (Q4, YoY)

  • Revenue flat at Rs 190 crore
  • Net profit up 2 percent at Rs 5.7 crore
  • Ebitda up 51.4 percent at Rs 16.5 crore
  • Margin at 8.7 percent from 5.8 percent

Navin Fluorine International (Q4, YoY)

  • Revenue up 5 percent at Rs 208 crore
  • Net profit up 5 percent at Rs 39 crore
  • Ebitda up 25 percent at Rs 46.1 crore
  • Margin at 22.2 percent from 18.7 percent

SIS (Q4, YoY)

  • Revenue up 29 percent at Rs 1592 crore
  • Net profit down 36 percent at Rs 36 crore
  • Tax credit of Rs 23 crore in base quarter
  • Ebitda up 32 percent at Rs 86 crore
  • Margin at 5.4 percent from 5.3 percent

Oriental Hotels (Q4, YoY)

  • Revenue up 5 percent at Rs 98 crore
  • Net profit down 14 percent at Rs 6 crore from Rs 7 crore
  • Ebitda unchanged at Rs 20 crore
  • Margin at 20.4 percent from 21.5 percent

Federal Bank (Q4, YoY)

  • Net interest income up 11 percent at Rs 933 crore
  • Net profit down 44 percent at Rs 145 crore
  • Provisions up 129 percent at Rs 371.5 crore from Rs 162 crore (QoQ)
  • GNPA at 3.0 percent
  • NPA at 1.69 percent

Linde India (Q4, YoY)

  • Revenue up 2.5 percent at Rs 528 crore
  • Net profit up 100 percent at Rs 2 crore
  • Ebitda down 67 percent at Rs 3 crore
  • Margin at 0.6 percent from 1.7 percent
  • Profit higher on account of tax credit

Sintex Plastics Technology (Q4, QoQ)

  • Revenue down 3 percent at Rs 1293 crore
  • Net loss of Rs 12 crore from net profit of Rs 52 crore
  • Ebitda down 36 percent at Rs 118 crore
  • Margin at 9.1 percent from 13.9 percent

Dhampur Sugar (Q4, YoY)

  • Revenue up 22 percent at Rs 921 crore
  • Net loss of Rs 36 crore from net profit of Rs 108.5 crore
  • Ebitda loss at Rs 17 crore from Rs 176 crore
  • Margin at -1.8 percent from 23.4 percent

May 10, 2018 07:40 (IST)
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  • Nifty May futures closed trading at 10,769 with premium of 27.6 points versus 17.2 points.
  • All series-Nifty open interest up 2 percent and Bank Nifty open interest up 3 percent.
  • India VIX ended at 14.2, up 1.5 percent.
  • Max open interest for May series call at 11,000 strike price call option, open interest at 53.7 lakh shares, down 6 percent.
  • Max open interest for May series put at 10,500 strike price put option, open interest at 56.7 lakh shares, up 3 percent.
May 10, 2018 07:38 (IST)
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Nath Bio-Gene

  • Birla Sun Life MF bought 1.06 lakh shares (0.6 percent) at Rs 560 each

Gitanjali Gems

  • Morgan Stanley France SAS sold 37.80 lakh shares (3.2 percent) at Rs 3.45 each

Shree Renuka Sugars

  • Murkumbi Investments Pvt Ltd sold 2.61cr shares (1.4 percent) at Rs 15.5 each

KSB Pumps

  • Old Bridge Capital Management bought 3.80 lakh shares (1.1 percent) at Rs 830 each
  • Vantage Equity Fund bought 4 lakh shares (1.1 percent) at Rs 830 each
  • DSP Blackrock Small Cap Fund sold 4.61 lakh shares (1.3 percent) at Rs 830 each

May 10, 2018 07:41 (IST)
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IndoStar Capital Finance IPO: Here’s All You Need To Know

May 10, 2018 08:56 (IST)
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May 10, 2018 07:35 (IST)
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May 10, 2018 07:35 (IST)
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Here's What Oil at $70 Means for the World Economy

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