Stocks Market Corner

Stocks Corner

  1. The rupee dropped 8 paise to finish at 70.89 against the US dollar on August 7 after the RBI cut the key interest rate and lowered the growth estimate for the current fiscal. This is the fifth straight session of loss for the domestic currency, during which it has lost a hefty 210 paise, said PTI.

STOCK CORNER UPDATES

  1. Affle India, a mobile marketing firm, rose as much as 29 per cent during their stock market debut on Thursday. The stock hit a high of Rs 956 and a low of Rs 750 on the National Stock Exchange (NSE), with shares worth over Rs 740 crore changing hands.
  2. Wipro released its 2019 State of Cyber security Report that highlights the rising importance of cyber security defense to global leaders, the emergence of the CISO as a C-Suite role, and an unprecedented focus on security as a pervasive part of the business operations.
  3. Tenable, a cyber exposure company, announced new product innovations in Tenable.sc and Tenable.io to continuously discover and assess known and unknown assets across on-premises and cloud environments from a single platform at no extra charge.

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Stocks Market Corner

Stocks Corner

  1. India’s economy will grow at 7 percent in 2019-20, the Economic Survey 2018-19 projected on July 4, as it laced an optimistic note on the broader economy that is still smarting under agrarian distress, sluggish consumption spending and wobbly investment activity.STOCK CORNER UPDATES
  2. A consortium led by Comcast is looking to bid for Zee Entertainment Enterprises, according to a report by The Economic Times. The consortium includes private equity firm Blackstone and James Murdoch’s Lupa Systems, the report added.
  3. India’s much-awaited new industrial policy is expected to be part of Friday’s Union budget, centering around the Make In India theme to re-industrialize the economy and create manufacturing jobs.
  4. The Jet Airways insolvency has brought to fore an issue that the Insolvency and Bankruptcy Code may not have addressed till now.As a part of the insolvency process, the Jet Airways resolution professional called for claims to be filed. Those being called to file also included Jet Airways employees.
  5. As NDA 2 gears up for its first Union Budget, all eyes will be on first-time Finance Minister Nirmala Sitharaman. She has her plate full, laden with issues like farmer distress, sluggish investment cycle, flagging exports, among others. But, on top of the heap will be the issue of jobs and the lack of employment opportunities for India’s burgeoning young population.

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Stock Market Corner

Stock Corner

  1. Shares of HDFC AMC hit a 52-week high on the BSE in today’s trade. The stock has rallied for the fourth consecutive session. Also, the stock has surpassed its previous high of Rs1,970 recorded on August 27, 2018.
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  1. Reddy’s Laboratories Ltd. announced the launch of Tobramycin Inhalation Solution, USP a therapeutic equivalent generic version of TOBI (tobramycin) Inhalation Solution, approved by the US Food and Drug Administration (USFDA).
  2. Over 20 percent of Infosys’ shareholders have voted against changing employment terms of the CEO and MD Salil Parekh, even as promoters have unanimously approved the move, voting results of the recently concluded annual general meeting show
  3. Close to 21.61 percent of public shareholders voted against changing the terms of employment of Parekh. This includes slashing the vesting period of performance-based shares every year, as opposed to after three years before.

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Stocks Market Corner

Stocks Corner

  1. Shares of Hero MotoCorp (HMCL) rose 4 per cent to Rs 2,790 on the BSE on Monday in early morning trade after the company reported a 13.5 per cent rise in sales to 652,028 units in May over the previous month. The company had sold 574,366 units in April 2019, it said in a BSE filing.

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  2. Manpasand Beverages (MBL) shares were on Monday locked in lower circuit, down 5 per cent at Rs 48.90, on the BSE, with huge sell orders on the counter, after the company’s top management was arrested in a Rs 40 crore Goods and Services Tax (GST) fraud case.
  3. Ultratech Cement: The company said it was proposing to issue unsecured redeemable non-convertible debentures (NCDs) amounting to Rs 250 crore on private placement basis. The deemed date of allotment is 4 June 2019 and date of maturity is 4 June 2024. Interest offered for the NCD is 7.64% per annum, as per reports.
  4. Cement maker India Cements has recorded net profit of Rs 43.85 crore for the January-March quarter on the back of increase in cement volumes and net plant realisations.
  5. Auto companies reported another subdued sales figures for May owing to high finance cost and liquidity constraints. Maruti Suzuki India said its overall sales including that to original equipment manufacturer (OEM) for May declined by 22 per cent to 134,641 units YoY while Tata Motors reported a drop of 26 per cent in its domestic sales at 40,155 units as against 54,290 units sold in May 2018.
  6. Jet Airways: The airline’s former Chief Executive Vinay Dube has been barred from leaving India, as a probe into the financial irregularities in the running of the grounded airline continues.

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MARKET NEWS CORNER

NEWS CORNER

  1. Indraprastha Gas Ltd, which retails CNG to automobiles in the national capital and adjoining cities, Friday reported a 28 per cent rise in its March quarter net profit on the back of higher sales. Net profit in January-March rose to Rs 224.72 crore from Rs 175.33 crore in the year-ago period, the company said in a statement here.STOCK CORNER UPDATES
  2. Jindal Stainless Hisar Ltd (JSHL) May 24 reported 31.75 per cent fall in standalone net profit at Rs 65.59 crore for the quarter ended March 31, 2019. The company’s standalone net profit stood at Rs 96.11 crore in the January-March quarter of the preceding fiscal Total standalone income during the quarter rose to Rs 2,385 crore from Rs 2,282.22 crore in the year-ago period. JSHL’s total expenses also grew to Rs 2,301.13 crore from Rs 2,127.84 crore a year ago.
  3. Essel Group direct-to-home arm Dish TV India Ltd reported a consolidated net loss of Rs 1,316.30 crore for the fourth quarter ended March 31. The company had posted a net profit of Rs 118.21 crore in the January-March quarter a year-ago.Its revenue from operations during the quarter was Rs 1,398.75 crore. It was Rs 1,532.37 crore during the corresponding quarter of the previous fiscal.
  4. Footwear major Bata India May 24 reported a 69.47 per cent jump in standalone profit to Rs 88.26 crore for the fourth quarter ended March 31, 2019. It had posted a profit of Rs 52.08 crore in the January-March quarter of the preceding fiscal. The company’s revenue from operations during the quarter under review stood at Rs 679.39 crore, up 7.44 per cent from Rs 632.31 crore in the year-ago period.
  5. Whirlpool of India May 24 reported 13.91 per cent increase in profit at Rs 104.1 crore for the fourth quarter ended March 31, 2019. The company posted a profit of Rs 91.38 crore in the year-ago quarter. Total income from operations during the quarter under review stood at Rs 1,380.5 crore, up 7.6 per cent from Rs 1,282.42 crore in the year-ago period.

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Stocks Market Corner

Stocks Corner

  1. CLSA said M&M’s operational outlook has deteriorated, led by weakening tractor industry demand and a sharp fall in legacy SUV volumes eating into the benefit of new launches. Its higher exposure to diesel also makes it more vulnerable to upcoming emission norms.STOCK CORNER UPDATES
  2. Dewan Housing Finance Limited (DHFL) has informed the stock exchanges that it will not be able to furnish the audited standalone and consolidated financial statements for FY19 within the time stipulated by SEBI norms.
  3. Muthoot Finance has reported 4QFY19 numbers with healthy AUM growth of 18% YoY.Net Interest Income grew by 6%/13% YoY/QoQ in 4QFY19. PAT has registered a low growth of 1%/6% YoY/QoQ.NIM increased by 113 bps to 14.64% in 4QFY19 on the account of increase in yield QoQ .The average cost of funding stood at 9.3% in 4QFY19and incremental borrowing cost stood at 9.5%.
  1. Tata Motors has reported a 49 percent fall in its consolidated net profit at Rs 1,108 crore. The company had reported a profit of Rs 2,175 crore in a year ago period.  The figure above includes profit attributable to shareholders of the company and non-controlling interests.Revenue of the company declined to Rs 86,422 crore against Rs 89,928.97.  of Bajaj Auto on May 20 defied the broader market sentiment and settled with over 1 percent loss on bourseThough the fourth quarter earnings for the auto major was a good show in a tough environment, the company is expected to face margin pressure.

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Stocks Market Corner

Stocks Corner

  1. ACC shares ended the day at Rs 1,600.70, a decline of 3.67 per cent on the National Stock Exchange (NSE) after the company reported a lower-than-expected operating performance in the quarter ended March, 2019 or Q1CY19.

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  2. Shares of Oil and Natural Gas Corporation (ONGC) hit a 6-month high of Rs 170, up 4 per cent, in intra-day trade on Wednesday, and ended the day at Rs 168.35, a gain of 2.81 per cent, on the expectations of strong earnings in the January-March quarter (Q4FY19).
  3. Indiabulls Real Estate surged 10 per cent to close the day at Rs 115.70 on the NSE on the back of heavy volumes after the company said it has decided to divest Century, the parent company that houses Hanover Square property, London. The company has decided to focus only on Mumbai & National Capital Region (NCR).
  4. A board meeting of Trident will be held on May 13, 2019 to consider and approve the standalone and consolidated results of the company for the financial year ended on March 31, 2019. It will also consider and recommend final dividend, if any and recommend sub-division/split of company’s equity share.

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Stock Market Corner

Stock Corner

  1. The Punjab National Bank (PNB) is likely to takeover two to three smaller state-run banks — Oriental Bank of Commerce (OBC), Andhra Bank and Allahabad Bank — in the next three months, reports Reuters.

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    stock corner
  2. The Delhi-based bank was earlier in the headlines in Aprilfor a possible merger with Union Bank of India (UBI) and Bank of India (BoI).
  3. Shares of United Breweries ended 5% up on Tuesday despite the company reported 25.26% yoy drop in the Q4FY19 PAT at Rs67.92cr vs Rs90.88cr in the same period a year ago.
    The company’s total income during the final quarter of FY19 was up 5.84% to Rs3,469.3cr vs. Rs3,277.85cr in the corresponding quarter of the previous fiscal, the company said in a press note on Tuesday.
  4. Shares of Tata Motors and Tata Motor DVR took a nosedive on account of weak quarterly earnings. Zee Enterprises closed ~4% lower as the open interest soared higher, indicating a buildup of short positions. Adani Group stocks also witnessed profit booking after witnessing a sharp rally in the last trading session.

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Stocks Market Corner

Stocks Corner

  1. ACC shares ended the day at Rs 1,600.70, a decline of 3.67 per cent on the National Stock Exchange (NSE) after the company reported a lower-than-expected operating performance in the quarter ended March, 2019 or Q1CY19.STOCK CORNER UPDATES
  2. Shares of Oil and Natural Gas Corporation (ONGC) hit a 6-month high of Rs 170, up 4 per cent, in intra-day trade on Wednesday, and ended the day at Rs 168.35, a gain of 2.81 per cent, on the expectations of strong earnings in the January-March quarter (Q4FY19).
  3. Indiabulls Real Estate surged 10 per cent to close the day at Rs 115.70 on the NSE on the back of heavy volumes after the company said it has decided to divest Century, the parent company that houses Hanover Square property, London. The company has decided to focus only on Mumbai & National Capital Region (NCR).
  4. A board meeting of Trident will be held on May 13, 2019 to consider and approve the standalone and consolidated results of the company for the financial year ended on March 31, 2019. It will also consider and recommend final dividend, if any and recommend sub-division/split of company’s equity share.

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Stocks Market Corner

Stocks Corner

  1. The month of May has traditionally been a volatile period for Indian equities, especially in election years. In the last 10 years (since 2008), the benchmark indices, the S&P BSE Sensex and the Nifty50, have gained seven out of 10 times, with the outcome of the election acting as a key driver to the market movement.

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    stock corner
  2. Bharti Airtel: Bharti Airtel posted a 29 per cent jump in net profit to Rs 107 crore for the quarter ended March 2019 even as the Street had anticipated a loss in the range of Rs 700 crore. The company said the jump was mainly due to gains from exceptional items.
  3. ICICI Bank: The private lender saw a 5 per cent fall in net profit for the quarter ended March 2019 (Q4) to Rs 969 crore. This was due to higher operating expenses and treasury income plunging to Rs 156 crore versus Rs 2,685 crore a year-ago padded with Rs 3,320 crore of profit from stake sale in ICICI Securities.
  4. Marico: Homegrown FMCG major Marico on Monday posted over two-fold increase in consolidated net profit at Rs 405 crore for the fourth quarter of 2018-19, aided by one-time write-back of tax provisions amounting to Rs 188 crore.
  5. Infosys’ shares are likely to get support from the ongoing buyback process after the announcement of its fourth quarter results on April 12 as the company has bought back only around one tenth of the shares out of its planned repurchase programme till March 31.

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