Be Wary of Indian Analysts Optimistic on Earnings, Emkay Says
Finance Minister Nirmala Sitharaman said:
- Want to make it absolutely clear that government is ready to hear out FPIs on issues they are facing.
- Stock market representatives to meet the government.
- Economic Affairs Secretary to meet FPI representatives.
Indian equity benchmarks are set to end at five-month low.
The S&P BSE Sensex fell 450 points to 36,663 as of 3 p.m. and the NSE Nifty 50 fell 1.3 percent to 10,852.
The market breadth was tilted in favour of sellers. About 1,307 shares declined and 467 stocks advanced on National Stock Exchange
Venky’s India
- Stock rose as much as 14.8 percent to Rs 1,368.
- June quarter’s revenue up 20 percent year-on-year to Rs 905.3 crore.
- Poultry segment revenue up 30 percent.
Bombay Dyeing
- Stock rose as much as 9.2 percent to Rs 72.40.
- Shares gain ahead of results announcement.
Trident
- Stock rose as much as 5.3 percent to Rs 56.50.
- Company to increase capacity addition for paper by 20,000MTPA for an investment of Rs 222 crore
- Revenue up 15.4 percent to Rs 1,312 crore.
- Net profit up 2.1 times to Rs 122.4 crore.
- Ebitda up 25.7 percent to Rs 297.7 crore.
- Margin at 22.7 percent versus 20.8 percent.
- Forex loss of Rs 41.6 crore in the base quarter.
Alkyl Amines Chemicals
- Stock rose as much as 4.4 percent to Rs 719.
- Trading volume was more than eight times its 20-day average.
Shares of Indian Bank fell 4.4 percent after the lender announced their June quarter results.
Key Earnings Highlights (Q1, YoY)
- Net profit up 74.6 percent to Rs 365.37 crore.
- Net interest income down 1 percent to 1,785.4 crore.
- Provisions down 51 percent to Rs 794.81 crore (QoQ).
- Gross NPA at 7.33 percent versus 7.11 percent (QoQ).
- Net NPA at 3.84 percent versus 3.75 percent (QoQ).
The move on ‘one nation, one law’ has a short-term negative impact on the market, according to Karvy Stock Broking CEO Rajiv Singh.
“There are larger reasons for the decline today,” Singh said in a statement. “However, we believe that the downside is now limited and the Nifty will stay in the range of 10,500-11,200 in the near-term.”
Shares of Natco Pharma fluctuated between gains and losses to trade little changed at Rs 527.50.
The U.S. drug regulator issued Establishment Inspection Report for the inspection conducted at the company’s drug formulations facility in Kothur, Telangana.
Of the shares traded, 46 percent were at the ask price and 39 percent were at the bid.
Indiabulls Ventures
- Stock hit 20 percent lower circuit at Rs 164.10.
- Trading volume was more than 12 times its 20-day average.
Ramkrishna Forgings
- Stock fell as much as 4.4 percent to Rs 435.65.
- Trading volume was more than 11 times its 20-day average.
NRB Bearings
- Stock rose as much as 7.5 percent to Rs 80.65.
- Trading volume was almost eight times its 20-day average.
Gati
- Stock hit 20 percent lower circuit at Rs 40.85.
- Trading volume was more than eight times its 20-day average.
Alkyl Amines Chemicals
- Stock rose as much as 4.4 percent to Rs 719.
- Trading volume was more than eight times its 20-day average.
Q1 Nifty Scorecard: Most Companies Missed Estimates So Far
India will revoke the special status of Kashmir in a measure that has already drawn shouts of protests in the parliament and risks deepening the deteriorating security situation in the disputed region.
Home Minister Amit Shah said:
- Jammu & Kashmir to be a union territory with a legislature
- Ladakh will be a union territory without a legislature
Source: With inputs from ANI and Bloomberg
Catch all the live updates of Jammu & Kashmir here.
About 22.2 lakh shares of Bharat Electronics changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
“The economic slowdown is likely to continue and the April-June growth numbers will show the same,” Aneesh Srivastava, chief investment officer at IDBI Federal Life Insurance Co told Bloomberg. “At such a time, global trade headwinds are strong and we expect U.S. President Donald Trump to continue with a tough stance against China.”
“The developments in Kashmir are also adding to the uncertainty,” Bloomberg reported quoting Prakash Pandey, head of research at New Delhi-based Fairwealth Securities Ltd.
Indian equity benchmarks traded lower, tracking the losses in peers across Asia.
The S&P BSE Sensex fell 630 points or 1.7 percent to 36,495 as of 11 a.m. and the NSE Nifty 50 traded around 10,800, down 1.68 percent. The broader markets represented by the NSE Nifty 500 fell 1.8 percent.
The Markit services PMI rose to 53.8 last month from 49.6 in June. A reading above 50 indicates expansion in the activity while a number below signals a contraction. The Makit India Composite PMI rose to 53.9 in July from 50.8 clocked in June.
About 25 lakh shares of Motherson Sumi changed hands in a block deal, Bloomberg data showed. Buyers and sellers were not known immediately.
Nifty’s 10,800 put option contract was among the most active Nifty option contracts on National Stock Exchange.
Premium on the weekly contract which is set to expire Thursday jumped 179.51 percent to Rs 92.10. Over 49,500 shares were added to the open interest which stood at over 12.62 lakh shares.
Tata Communications (Q1, QoQ)
- Stock rose as much as 10.5 percent to Rs 516.90.
- Revenue down 1.8 percent to Rs 4,168.6 crore
- Net profit at Rs 76.6 crore versus net loss of Rs 198.8 crore
- Ebitda up 20.5 percent to Rs 825.6 crore
- Margin at 19.8 percent versus 16.1 percent
- Other expenses down 22 percent to Rs 865.9 crore
Deepak Nitrite (Q1, YoY)
- Stock rose as much as 5.3 percent to Rs 299.
- Revenue up 2.3 times to Rs 1,051 crore
- Net profit up 7 times to Rs 131.6 crore
- Ebitda up 4.8 times to Rs 253.9 crore
- Margin at 24.2 percent versus 11.4 percent
Astral Poly (Q1, YoY)
- Stock fell as much as 1.4 percent to Rs 1,202.10.
- Revenue up 27 percent to Rs 607 crore
- Net profit up 27 percent to Rs 47 crore
- Ebitda up 19 percent to Rs 93 crore
- Margin at 15.3 percent versus 16.4 percent
Gujarat State Petronet (Q1, QoQ)
- Stock rose as much as 2.1 percent to Rs 180.
- Revenue up 31.5 percent to Rs 3,021.5 crore
- Net profit up 56 percent to Rs 331.8 crore
- Ebitda up 48.6 percent to Rs 872.1 crore
- Margin at 28.9 percent versus 25.5 percent
Bata (Q1, YoY)
- Stock fell as much as 1.9 percent to Rs 1,284.
- Revenue up 10.6 percent to Rs 882.1 crore
- Net profit up 21.9 percent to Rs 100.7 crore
- Ebitda up 84.4 percent to Rs 243.1 crore
- Margin at 27.6 percent versus 16.5 percent
Equitas Holding (Q1, YoY)
- Stock fell as much as 12.5 percent to Rs 99.50.
- Net interest income up 38 percent to Rs 362.8 crore
- Net profit up 2.4 times to Rs 70.3 crore
- Deposits up 52 percent to Rs 8670 crore
- GNPA at 2.75 percent versus 2.52 percent (QoQ)
- NNPA at 1.54 percent versus 1.43 percent (QoQ)
Union Bank of india (Q1, YoY)
- Stock fell as much as 4.3 percent to Rs 61.90.
- Net interest income down 4.1 percent to Rs 2,518.2 crore
- Net profit up 73.3 percent to Rs 224.4 crore
- Provisions at Rs 1,431.1 crore versus Rs 1,803.2 crore
- GNPA at 15.18 percent versus 14.98 percent (QoQ)
- NNPA at 7.23 percent versus 6.85 percent (QoQ)
Laurus Labs (Q1, YoY)
- Stock fell as much as 5.8 percent to Rs 317.55.
- Revenue up 2.2 percent to Rs 550.6 crore
- Net profit down 9 percent to Rs 15.1 crore
- Ebitda up 3.4 percent to Rs 83.2 crore
- Margin at 15.1 percent versus 14.9 percent
Aditya Birla Capital (Q1, YoY)
- Stock fell as much as 2.8 percent to Rs 182.50.
- Net interest income up 30.9 percent to Rs 661.1 crore
- Net profit up 26.8 percent to Rs 270 crore
- Lending book up 16 percent to Rs 61,998 crore
V-Mart Retail (Q1, YoY)
- Stock fell as much as 4.5 percent to Rs 1,808.80.
- Revenue up 25.5 percent to Rs 453 crore
- Net profit down 29.3 percent to Rs 17.6 crore
- Ebitda up 30.3 percent to Rs 58 crore
- Margin at 12.8 percent versus 12.3 percent
Gujarat Mineral Development Corporation (Q1, YoY)
- Stock rose as much as 2.2 percent to Rs 214.40.
- Revenue down 21.7 percent to Rs 505 crore.
- Net profit down 48.6 percent to Rs 96 crore.
- Ebitda down 55.6 percent to Rs 113.3 crore.
- Margin at 22.4 percent versus 39.5 percent.
Trident (Q1, YoY)
- Stock rose as much as 4.9 percent to Rs 56.30.
- Revenue up 15.4 percent to Rs 1,312 crore.
- Net profit up 2.1 times to Rs 122.4 crore.
- Ebitda up 25.7 percent to Rs 297.7 crore.
- Margin at 22.7 percent versus 20.8 percent.
- Forex loss of Rs 41.6 crore in the base quarter.
JK Cement (Q1, YoY)
- Stock rose as much as 2.4 percent to Rs 986.
- Revenue up 15.9 percent to Rs 1,394 crore.
- Net profit up 193.3 percent to Rs 132 crore.
- Ebitda up 83.3 percent to Rs 308 crore.
- Margin at 22.09 percent versus 13.9 percent.
Relaxo Footwears (Q1, YoY)
- Stock fell as much as 1.8 percent to Rs 420.55.
- Revenue up 15.4 percent to Rs 648.3 crore.
- Net profit up 8.3 percent to Rs 49.8 crore.
- Ebitda up 28.5 percent to Rs 106.5 crore.
- Margin at 16.4 percent versus 14.8 percent.
Bhansali Engineering Polymers (Q1, YoY)
- Stock rose as much as 9.3 percent to Rs 64.40.
- Revenue up 55.3 percent to Rs 313.3 crore.
- Net profit up 30.4 percent to Rs 21.9 crore.
- Ebitda up 5.8 percent to Rs 29.1 crore.
- Margin at 9.3 percent versus 13.6 percent.
- Raw material as percent of sales to 80 percent versus 72 percent
J&K Bank (Q1, YoY)
- Stock fell as much as 8.4 percent to Rs 32.25.
- Net interest income up 15.8 percent to Rs 902.2 crore.
- Net profit down 58.4 percent to Rs 21.9 crore.
- Provisions to Rs 293.2 crore versus Rs 255 crore (Rs 378 crore QoQ)
- GNPA to 8.48 percent versus 8.97 percent (QoQ)
- NNPA to 4.36 percent versus 4.89 percent (QoQ)
LIC Housing Finance (Q1, YoY)
- Stock fell as much as 3.1 percent to Rs 485.75.
- Net interest income up 17.2 percent to Rs 1,181.9 crore.
- Net profit up 7.5 percent to Rs 610.7 crore.
Shares of Nestle India rose as much as 4.7 percent to Rs 11,490 after the company announced its quarterly results for the three months ended June.
Key Earnings Highlights (Q2CY19, YoY)
- Revenue up 11.2 percent to Rs 3,000.9 crore (estimate Rs 2,923 crore)
- Net profit up 10.8 percent to Rs 437.8 crore (estimate Rs 437 crore)
- Ebitda up 8.1 percent to Rs 697.3 crore (estimate Rs 705 crore)
- Margin at 23.2 percent versus 23.9 percent (estimate 24.1 percent)
- Board declared interim dividend of Rs 180 per share and annual dividend of Rs 23 per share
Besides, the board announced that the company will commence construction of its ninth factory in Gujarat for Maggi Noodles, which will involve an initial investment of Rs 700 crore over the next two years.
Shares of India’s largest carmaker fell as much as 2.8 percent to Rs 5,528.
The company sent nearly 10 percent of its contract workforce at its Gurugram, Haryana plant on a leave without pay, according to a person aware of the decision, as its sales tumbled the most in seven years last month.
Of the shares traded, 31 percent were at the ask price and 37 percent were at the bid. The stock traded at 22 times its estimated earnings per share for the coming year, Bloomberg data showed.
Ambani’s Reliance to Buy Google-Backed Indian E-Commerce Startup
Indian equity benchmarks are set to open lower.
The S&P BSE Sensex traded little changed at 37,180 during the pre-market trade and the NSE Nifty 50 fell 0.5 percent to 10,942.
- Hubtown, CARE Ratings, Alphageo, NRB Bearings price band revised to 10 percent
- Williamson Magor & Company to move out of ASM Framework.
- 10:30 a.m.: Markit India PMI Services for July, prior 49.6.
- 10:30 a.m.: Markit India PMI Composite for July, prior 50.8.
Spandana Sphoorty IPO: All You Need To Know
Nestle India (Q2CY19, YoY)
- Revenue up 11.2 percent to Rs 3,000.9 crore (estimate Rs 2,923 crore)
- Net profit up 10.8 percent to Rs 437.8 crore (estimate Rs 437 crore)
- Ebitda up 8.1 percent to Rs 697.3 crore (estimate Rs 705 crore)
- Margin at 23.2 percent versus 23.9 percent (estimate 24.1 percent)
- Board declared interim dividend of Rs 180 per share and annual dividend of Rs 23 per share
Tata Communications (Q1, QoQ)
- Revenue down 1.8 percent to Rs 4,168.6 crore
- Net profit at Rs 76.6 crore versus net loss of Rs 198.8 crore
- Ebitda up 20.5 percent to Rs 825.6 crore
- Margin at 19.8 percent versus 16.1 percent
- Other expenses down 22 percent to Rs 865.9 crore
Deepak Nitrite (Q1, YoY)
- Revenue up 2.3 times to Rs 1,051 crore
- Net profit up 7 times to Rs 131.6 crore
- Ebitda up 4.8 times to Rs 253.9 crore
- Margin at 24.2 percent versus 11.4 percent
Astral Poly (Q1, YoY)
- Revenue up 27 percent to Rs 607 crore
- Net profit up 27 percent to Rs 47 crore
- Ebitda up 19 percent to Rs 93 crore
- Margin at 15.3 percent versus 16.4 percent
Gujarat State Petronet (Q1, QoQ)
- Revenue up 31.5 percent to Rs 3,021.5 crore
- Net profit up 56 percent to Rs 331.8 crore
- Ebitda up 48.6 percent to Rs 872.1 crore
- Margin at 28.9 percent versus 25.5 percent
Bata (Q1, YoY)
- Revenue up 10.6 percent to Rs 882.1 crore
- Net profit up 21.9 percent to Rs 100.7 crore
- Ebitda up 84.4 percent to Rs 243.1 crore
- Margin at 27.6 percent versus 16.5 percent
Equitas Holding (Q1, YoY)
- Net interest income up 38 percent to Rs 362.8 crore
- Net profit up 2.4 times to Rs 70.3 crore
- Deposits up 52 percent to Rs 8670 crore
- GNPA at 2.75 percent versus 2.52 percent (QoQ)
- NNPA at 1.54 percent versus 1.43 percent (QoQ)
Union Bank (Q1, YoY)
- Net interest income down 4.1 percent to Rs 2,518.2 crore
- Net profit up 73.3 percent to Rs 224.4 crore
- Provisions at Rs 1,431.1 crore versus Rs 1,803.2 crore
- GNPA at 15.18 percent versus 14.98 percent (QoQ)
- NNPA at 7.23 percent versus 6.85 percent (QoQ)
Laurus Labs (Q1, YoY)
- Revenue up 2.2 percent to Rs 550.6 crore
- Net profit down 9 percent to Rs 15.1 crore
- Ebitda up 3.4 percent to Rs 83.2 crore
- Margin at 15.1 percent versus 14.9 percent
Aditya Birla Capital (Q1, YoY)
- Net interest income up 30.9 percent to Rs 661.1 crore
- Net profit up 26.8 percent to Rs 270 crore
- Lending book up 16 percent to Rs 61,998 crore
V-Mart Retail (Q1, YoY)
- Revenue up 25.5 percent to Rs 453 crore
- Net profit down 29.3 percent to Rs 17.6 crore
- Ebitda up 30.3 percent to Rs 58 crore
- Margin at 12.8 percent versus 12.3 percent
Gujarat Mineral Development Corporation (Q1, YoY)
- Revenue down 21.7 percent to Rs 505 crore.
- Net profit down 48.6 percent to Rs 96 crore.
- Ebitda down 55.6 percent to Rs 113.3 crore.
- Margin at 22.4 percent versus 39.5 percent.
Trident (Q1, YoY)
- Revenue up 15.4 percent to Rs 1,312 crore.
- Net profit up 2.1 times to Rs 122.4 crore.
- Ebitda up 25.7 percent to Rs 297.7 crore.
- Margin at 22.7 percent versus 20.8 percent.
- Forex loss of Rs 41.6 crore in the base quarter.
JK Cement (Q1, YoY)
- Revenue up 15.9 percent to Rs 1,394 crore.
- Net profit up 193.3 percent to Rs 132 crore.
- Ebitda up 83.3 percent to Rs 308 crore.
- Margin at 22.09 percent versus 13.9 percent.
Relaxo Footwears (Q1, YoY)
- Revenue up 15.4 percent to Rs 648.3 crore.
- Net profit up 8.3 percent to Rs 49.8 crore.
- Ebitda up 28.5 percent to Rs 106.5 crore.
- Margin at 16.4 percent versus 14.8 percent.
Bhansali Engineering Polymers (Q1, YoY)
- Revenue up 55.3 percent to Rs 313.3 crore.
- Net profit up 30.4 percent to Rs 21.9 crore.
- Ebitda up 5.8 percent to Rs 29.1 crore.
- Margin at 9.3 percent versus 13.6 percent.
- Raw material as percent of sales to 80 percent versus 72 percent
J&K Bank (Q1, YoY)
- Net interest income up 15.8 percent to Rs 902.2 crore.
- Net profit down 58.4 percent to Rs 21.9 crore.
- Provisions to Rs 293.2 crore versus Rs 255 crore (Rs 378 crore QoQ)
- GNPA to 8.48 percent versus 8.97 percent (QoQ)
- NNPA to 4.36 percent versus 4.89 percent (QoQ)
LIC Housing Finance (Q1, YoY)
- Net interest income up 17.2 percent to Rs 1,181.9 crore.
- Net profit up 7.5 percent to Rs 610.7 crore.
- Reliance Industries agreed to buy a controlling stake in Shopsense Retail Technologies Pvt, which operates the Fynd platform, according to a statement dated Aug. 2.
- Nestle: Board announced that the company will commence construction of its ninth factory in Gujarat for Maggi Noodles, which will involve an initial investment of Rs 700 crore over the next two years.
- Maruti Suzuki sent nearly 10 percent of its contract workforce at its Gurugram, Haryana plant on a leave without pay, according to a person aware of the decision, as the nation’s largest carmaker’s sales tumbled the most in seven years last month.
- NIIT will consider a share buyback on Aug. 10.
- Astral Poly Technik: Board approved bonus issue of one equity share for four shares held. The company’s Hosur plant has commenced production from expanded facility from July.
- Shriram Transport Finance, Shriram City Union Finance: Blackstone and Carlyle Group are among five investors that are in talks to acquire a stake in privately-held Indian-financier Shriram Capital, Bloomberg reported quoting people with knowledge of the matter. The sellers are seeking a valuation of $1.2 billion for the stake, they said.
- Punjab & Sind Bank stated that account of Fairdeal Supplies with outstanding dues of Rs 40.49 crore has been declared as fraud and reported to RBl.
- Adani Power completed the acquisition of GMR Chhattisgarh Energy with itself.
- Adani Green Energy part commissioned 100MWAC capacity in Rajasthan having PPA with Maharashtra State Electricity Distribution Company Limited at Rs. 2.71/kWh for a period of 25 years.
- Coal India’s Talcher mines remain shut, Bloomberg reported quoting unit spokesman.
- Cox & Kings defaulted in payment of CPs worth Rs 100 crore which was due on Aug. 1.
- DHFL: DSP Mutual Fund said 50 percent of dues from the company remain unpaid, according to a Bloomberg report.
- Europe to block Hindalco’s arm Novelis, Aleris deal unless concessions offered., Reuters reported.
- V-Mart Retail opened three new stores in Rajasthan, Uttar Pradesh and Punjab.
- RPP Infra Projects won orders worth Rs 107.9 crore for white topping of selected roads in Bengaluru.
- Coffee Day Enterprises to delay its quarterly board meeting from Aug. 8 to a later date.
- Manpasand Beverages appointed Batliboi & Purohit as Statutory Auditors for a period of five years.
- InterGlobe Aviation: Related party transactions for 2018-19 have been approved by audit panel. Besides, the company will seek approval for IGE group to nominate five directors, according to Bloomberg report.
- Tata Power to install 300 electric vehicle charging stations, according to Bloomberg report.
- IL&FS Transportation Networks defaulted on NCD interest payment worth Rs 2.29 crore which was due on Aug. 2
- VST Tillers Tractors July Update: Power Tillers sales up 11 percent at 2880 units versus 2598 units. Tractors sales down 7 percent at 719 units versus 769 units.
- RBI imposed a penalty for non-compliance of rules on the following banks: Allahabad Bank (Rs 2 crore), Bank of Baroda (Rs 1.5 crore), Bank of India (Rs 1.5 crore), Bank of Maharashtra (Rs 2 crore), Indian Overseas Bank (Rs 1.5 crore), Oriental Bank of Commerce (Rs 1 crore), Union Bank of India (Rs 1.5 crore) Punjab National Bank (Rs 50 lakh), Oriental Bank (Rs 1.5 crore).
- DHFL defaulted on NCDs interest worth Rs 42.77 crore and Rs 49.25 crore, which were due on August 2 and August 3, respectively.
- JM Financial: Public issue by way of the Tranche II issue of secured, rated, listed, redeemable, NCDs of face value €1,000 each with a base issue size of €100 crore with an option to retain oversubscription up to Rs 400 crore, aggregating up to Rs 500 crore.
- Tata Power and Tata Motors announced their partnership to install 300 fast charging stations by the end of the March 2020, across key five cities namely Mumbai, Delhi, Pune, Bangalore and Hyderabad.
- PNC Infratech received Rs 145.3 crore towards an arbitration award from NHAI.
- BEML bagged an order worth Rs 834 crore for making 21 train sets for MMRDA Mumbai line 2 and 7.
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