Get App
Download App Scanner
Scan to Download
Advertisement
LIVE UPDATES

Sensex, Nifty Extend Losses On Mixed Earnings, Karnataka Uncertainty

Sensex, Nifty Extend Losses On Mixed Earnings, Karnataka Uncertainty
The Bombay Stock Exchange (BSE), right, stands on Dalal street in Mumbai. (Photographer: Adeel Halim/Bloomberg)
8 years ago
The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, traded 0.6 percent lower at 10,759 as of 8:45 a.m.Most stocks in Asia followed their American counterparts lower as geopolitical developments and rising benchmark U.S. yields spurred a return of risk aversion.

Shares of the human resource service provider swung between gains and losses and traded at Rs 2,754. The company announced its results for March quarter.

Key earnings highlights (Q4, QoQ):

  • Net Profit up 15.3 percent Rs 21.2 crore.
  • Revenue up 6.5 percent Rs 977.5 crore.
  • Ebitda down 9.2 percent at Rs 22.8 crore.
  • Margin at 2.3 percent versus 2.7 percent.

Shares of the plyboard maker extended decline for the second straight trading session and fell as much as 8 percent, the most since November 2016 to a six-month low at Rs 279.45. The company’s profit declined 36 percent on a yearly basis.

Key earnings highlights (Q4, YoY):

  • Net Profit down 36 percent at Rs 35.7 crore.
  • Revenue up 11.4 percent at Rs 544 crore.
  • Ebitda down 0.6 percent at Rs 83.1 crore.
  • Margin at 15.3 percent versus 17.1 percent.

Key highlights from the conversation:

  • Oil price hike, widening dollar liquidity require RBI action now.
  • Core normalisation will lead to inflation this year.
  • Food inflation a story to look for in second half of the current financial year.
  • See inflation higher at 5.1 percent this year.
  • Estimate current account deficit at 2.3 percent of GDP due to higher oil prices
  • Elections, higher oil prices, uncertainty in GST collections risk to attain fiscal deficit target of 6 percent.

Shares of TVS Motor Co. fell as much as 6.5 percent to Rs 580.10. The company's profit rose for the fourth straight quarter but fell short of analysts estimates.

Key earnings highlights (Q4, YoY):

  • Revenue up 40 percent at Rs 3,993 crore.
  • Net profit up 31 percent at Rs 166 crore.
  • Ebitda up 73 percent at Rs 280 crore.
  • Margin at 7 percent versus 5.7 percent.

About 47.1 lakh shares of Shree Renuka Sugars changed hands in a block deal on BSE, according to Bloomberg. Buyers and sellers were not known immediately.

Shares of Hindalco Industries fell as much as 2.8 percent to Rs 237.60 after the company's net profit declines the most in nine quarters.

Key earnings highlights (Q4, YoY):

  • Revenue up 6 percent at Rs 11,681 crore.
  • Net profit down 25 percent at Rs 377 crore.
  • Ebitda down 7 percent at Rs 1,257 crore.
  • Margin at 10.8 percent versus 11.5 percent.

Shares of ITC Ltd. rose as much as 1.4 percent to Rs 285.90. The company's net profit rose for the ninth straight quarter and met analysts estimates.

Key earnings highlights (Q4, YoY):

  • Net profit down 10 percent at Rs 2,933 crore.
  • Revenue down 5 percent at Rs 10,586.5 crore.
  • Ebitda up 7 percent at Rs 4,143.5 crore.
  • Margin at 39.1 percent versus 39.8 percent.

Shares of rose as much as 9.1 percent to Rs 110.50, after the company reported profit in March quarter.

Key earnings highlights:

  • Net profit at Rs 19.7 crore.
  • Revenue up 6 percent at Rs 222.8 crore.
  • Ebitda up 22 percent at Rs 22.1 crore.

Key highlights from the conversation:

  • Partnering with logistics company for better customer services.
  • Commodity costs is cyclic, we tackle with ongoing cost reduction program.
  • We plan to cover inflation, product mix, price hike as part of dealing with commodity prices.
  • Market share has grown for fans and will continue in future also.
  • Pumps segment will also see new consumer innovations going forward.
  • Introduced new product in fan segment, air360 and this innovation will drive growth and aid margins.
  • ETC segment adjusted for GST, excise grew 10 percent this quarter.
  • Premium segment has aided growth and will be the focus in future also.

Shares of DB Corp swung between gains and losses and traded at Rs 272.50. The company’s net profit declined for the third straight quarter.

Key earnings highlights (Consolidated Q4, YoY):

  • Net Profit down 11.2 percent at Rs 57 crore.
  • Revenue up 9.7 percent at Rs 567.3 crore.
  • Ebitda down 13 percent at Rs 97.8 crore.
  • Margin at 17.2 percent versus 21.7 percent.
  • Advertising revenue up 8.2 percent at Rs 386 crore.
  • Circulation revenue up 8.5 percent at Rs 132 crore.
  • Radio Business Revenue up 9.5 percent at Rs 36.2 crore.

Shares of the country’s largest two-wheeler manufacturer fell as much as 4.1 percent, the most in a little more than three months, snapping a brief two-day gaining streak.

Hero MotoCorp was trading as the top loser on the NSE Nifty Auto Index. The sectoral index lost as much as 0.9 percent in intra-day trading today and around 7.7 percent so far this year.

Trading volume was 2.7 times the 20-day average. The stock has lost around 6.4 percent so far this year.

Key highlights from the conversation:

  • Topline impacted due to slowdown in Rajasthan and MP.
  • Expect a 20-25 percent growth in 2018-19.
  • OEM business has grown from 67 crore to 85 crore.
  • Exports have grown by 11 percent.
  • Prime exports markets are USA and Africa.
  • Lower other expenses aided margins.

Key highlights from the conversation:

  • Planning to expand brand Pride of Cows to more cities as it is a high margin business.
  • Targeting revenue of Rs 200 crore from Danone's capacity by next year.
  • Expanded infrastructure can now handle capacity of 26 lakh litres.
  • Expecting Rs 100-120 crore revenue from Avvatar by next year.
  • Recently launched product Avvatar received good response in the market.
  • Govardhan Ghee growing strongly in North India.

About 10 lakh shares of Federal Bank changed hands in a block deal, according to Bloomberg. Buyers and sellers were not known immediately.

Shares of the real estate developer rose as much as 10.5 percent, the most in 10 days to Rs 205.35. The company’s board plans to consider buyback in a meeting on Friday, according to its stock exchange filing.

Trading volume was 2.8 times its 20-day average. The stock declined 11 percent so far this year.

  • Indian equity benchmarks maintained losses as investors shifted focus from quarterly earnings towards the political uncertainty in Karnataka.
  • The S&P BSE Sensex traded 0.5 percent lower at 35,358 as of 11:20 a.m., while the NSE Nifty 50 Index traded at 10,737, down 0.6 percent.
  • The NSE Nifty Smallcap Index pared losses and rose 0.1 percent.

Key highlights from the conversation:

  • Do not see further write off in Gavis going ahead.
  • Guidance given is not optimistic but realistic.
  • Guiding for FY19 Ebitda margins in the range of 19 – 21 percent.
  • 2018-19 sales growth guidance is for single digit growth.
  • R&D spends will be flat for 2018-19.
  • Will be looking at cost reductions to get margins higher.
  • Expect price erosion of high-single digit in the current financial year
  • Remediation of Goa and Indore plants to finish by May-18.
  • Will invite FDA for re-inspection in Jun-18 post remediation.
  • Expect TAD for Pro-Air generic inhaler is in couple of quarters
  • Methergine will be seeing competition over next few quarters.
  • Looking at ways to bring down working capital cycle.
  • Solosec is expected to be launched in the next few weeks.

Shares of Reliance Communications extended losses and fell as much as 18.6 percent after 17.3 lakh shares changed hands in a block deal, according to Bloomberg data. Buyers and sellers were not known immediately.

Shares of the country’s second-largest steelmaker by market value fell as much as 1.1 percent to Rs 617, ahead of its earnings announcement.

The company is expected to swing to profit in March quarter, according to analysts surveyed by Bloomberg.

Key earnings preview:

  • Revenue is expected to be flat at Rs 32,787 crore.
  • Ebitda seen down by 16.4 percent to Rs 5,877 crore.
  • Margins seen contracting to 17.9 percent versus vs 21 percent.
  • Net Profit seen at Rs 2271.83 crore versus net loss of Rs 725 crore.
  • Volume seen down by 5.4 percent 6.46 MT versus 6.83 MT.
  • Ebitda per tonne seen down 11.6 percent to Rs 9,096.

Key highlights from the conversation:

  • ITC, Parle have good premium portfolio.
  • Have seen two quarters of double-digit volume growth and will continue to do so.
  • Will continue to focus on distribution and increasing market share in Hindi speaking belt.
  • Milk prices have been soft giving some kind of tailwinds to milk producers.
  • Value-added part of our portfolio is cheese and will focus on that only.
  • Milk will not be a part of our value-added portfolio.

Shares of Mangalore Refinery and Petrochemicals Ltd. fell as much as 6 percent, the most since March 5, to nearly 14-month low at Rs 99.10.

The company’s net profit declined the most in over three years, after profit slumped nearly 70 percent on a yearly basis, according to its stock exchange notification.

Key highlights from the conversation:

  • Weak internals and global cues are driving market.
  • Believe midcap and smallcap correction is nearing its end.
  • Seeing pick up in micro despite macro deteriorating.

Shares of Anil Ambani-led telecom operator fell as much as 13 percent to more than four-month low at Rs 10.75.

The Mumbai bench of NCLT ordered that the wireless carrier be placed in insolvency proceedings, jeopardising its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd., Bloomberg reported.

Bond yields are set to rise for a sixth straight day amid growing expectations that the Reserve Bank of India may hike interest rates sooner rather than later.

The yield on the 10-year benchmark rose eight basis points on Tuesday to 7.90 percent, the highest since May 2015. Yields jumped following data late Monday which showed consumer price inflation accelerated faster than estimated.

Foreigners have pared holdings of Indian government and corporate debt for an eighth day on Tuesday, being net sellers of Rs 340 crore.

The foreign sell-off of Indian bonds at the fastest pace on record is weakening the rupee. The local currency may come under more pressure as surging oil prices threaten to hurt the nation’s finances and as rising U.S. yields put the dollar on the front foot.

The rupee fell nearly 1 percent to 68.1075 per dollar, the lowest since January 2017, after local election results showed the Bharatiya Janata Party would fall short of simple majority in the Karnataka state election.

Macquarie on CG Consumer

  • Maintained ‘Outperform’, with a price target of Rs 292.
  • The key positive takeaway was the operating margins expansion.
  • Revenue growth decent but lags peers.
  • Need to capitalize with new product offering.

Credit Suisse on CG Consumer

  • Maintained ‘Outperform’, with a price target of Rs 315.
  • Margin expansion continues to play out, led by lighting.
  • Go-to-market changes, potential new category entry are key drivers.

  • Nifty May Futures closed trading at 10,818.6 with premium of 16.8 points versus 8 points.
  • All series-Nifty open interest down 2 percent and Bank Nifty open interest up 2 percent.
  • India VIX ended at 13.1, down 7.5 percent
  • Max open interest for May series at 11,000, open interest at 63.7 lakh, open interest up 4 percent.
  • Max open interest for May series at 10,500, open interest at 60.6 lakh, open interest down 9 percent.
  • F&O Ban

    • In ban: Dewan Housing, Jet Airways, JP Associates, Justdial, PC Jewelers, Wockhardt
    • New in ban: PC Jewellers
    • Out of ban: IRB Infra

    Only intraday positions can be taken in stocks under F&O ban. There is a penalty in case of a rollover of these positions.

    Put-Call Ratio

    • Nifty PCR at 1.59 versus 1.64.
    • Nifty Bank PCR at 1.03 versus 1.10.

  • Reliance Communications: Sistema Shyam Teleservices sold 1.54 crore shares or 0.6 percent equity at Rs 12.63 each.
  • Alok Industries: Catalyst Trusteeship sold 1.05 crore shares or 0.8 percent equity at Rs 1.57 each.

PI Industries (Q4. YoY)

  • Revenue up 3 percent at Rs 625 crore.
  • Net profit down 22 percent at Rs 105 crore.
  • Ebitda down 12 percent at Rs 135 crore.
  • Margin at 21.6 percent versus 25.8 percent.

Monsanto India (Q4, YoY)

  • Revenue up 10 percent at Rs 157 crore.
  • Net profit up 66 percent at Rs 53 crore.
  • Ebitda up 50 percent at Rs 54 crore.
  • Margin at 34.4 percent from 25.2 percent.

Endurance Technologies (Q4, YoY)

  • Revenue up 29 percent at Rs 1,782 crore.
  • Net profit up 39 percent at Rs 116 crore.
  • Ebitda up 36 percent at Rs 258 crore.
  • Margin at 14.5 percent.

Ineos Styrolution India (Q4, YoY)

  • Revenue up 29 percent at Rs 510.5 crore.
  • Net profit up 7 percent at Rs 32 crore.
  • Ebitda up 17 percent at Rs 55.5 crore.
  • Margin at 10.9 percent from 12 percent.

Britannia Industries (Q4, YoY)

  • Revenue up 13 percent at Rs 2,537.5 crore.
  • Net profit up 25 percent at Rs 264 crore.
  • Ebitda up 29 percent at Rs 396.5 crore.
  • Margin at 15.6 percent from 13.7 percent.

Crompton Greaves Consumer (Q4, YoY)

  • Revenue up 8 percent at Rs 1,126 crore.
  • Net profit up 32 percent at Rs 103 crore.
  • Ebitda up 27 percent at Rs 164 crore.
  • Margin at 14.6 percent from 12.3 percent.

Clariant Chemicals (Q4, YoY)

  • Revenue down 4 percent at Rs 244 crore.
  • Net profit down 75 percent at Rs 2 crore.
  • Ebitda down 45 percent at Rs 11 crore.
  • Margin at 4.5 percent from 7.9 percent.

Shakti Pumps (Q4, YoY)

  • Revenue down 22 percent at Rs 131 crore.
  • Net profit down 20 percent at Rs 9.6 crore.
  • Ebitda flat at Rs 23 crore.
  • Margin at 17.6 percent from 13.8 percent.

JHS Svendgaard Laboratories (Q4, YoY)

  • Revenue up 38 percent at Rs 38 crore.
  • Net profit down 84 percent at Rs 3 crore.
  • Tax credit of Rs 17 crore in base quarter.
  • Ebitda up 14 percent at Rs 4 crore.
  • Margin at 10.5 percent from 12.7 percent.

Nifty Earnings To Watch
  • Hindalco
  • ITC
  • Tata Steel

Other Earnings To Watch

  • AIA Engineering
  • Alembic Pharmaceuticals
  • Brigade Enterprises
  • GSFC
  • JK Lakshmi Cement
  • JSW Steel
  • Jyothy Laboratories
  • Muthoot Finance
  • NIIT
  • Praj Industries
  • Prataap Snacks
  • PTC India
  • Tasty Bite Eatables
  • Teamlease Services
  • TVS Motor Company
  • Welspun India
  • Zee Media

  • ArcelorMittal transfers Rs 7,000 crore to SBI account to meet Essar bid norm.
  • Reliance Communications admitted into insolvency by NCLT bench.
  • EPC Industries to form joint venture with Israel’s Top Greenhouse.
  • NTPC: Signs pact to acquire stakes in Bihar power plants
  • Lupin: Says expect worst of the U.S. price erosion is passed; forecasts Ebita margins around 20 percent next year
  • Shree Pushkar acquired 40,000 sq metre land at MIDC, Ratnagiri for expansion purpose.

  • Battle of wits in Karnataka as Congress backs JD(S) to keep BJP out
  • North Korea warns U.S. on summit 'fate,' scraps forum with South
  • Apple wants $1 billion from Samsung at smartphone retrial
  • This Chinese pork CEO was paid more than Tim Cook or Elon Musk
  • Tesla board opposition builds as proxy firm slams bad governance
  • Singapore's biggest bank takes on China giants in fintech battle
  • The best new motorcycles for every type of rider
  • Decoded: ModiCare’s implementation guidelines and timelines
  • A Spanish rental car agency bought Pope Francis’s Lamborghini

  • West Texas Intermediate crude fell 0.4 percent to $71.00 a barrel.
  • Brent crude ended 0.5 percent lower at $78.08 per barrel.
  • Aluminium traded 1.2 percent higher at $2,343 per metric tonne.
  • Gold traded below $1,300 an ounce for the first time since December and the yen dropped.
  • LME copper rose 0.1 percent to $6,815.00 per metric tonne.

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

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search