Shares of West Coast Paper Mills have hit a new high of Rs 415 per share, up 4% from its previous close, surging 36% from their recent low of Rs 306 per share touched on October 8, on the BSE on the expectations of a strong set of quarterly results.
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India's leading technology services firm HCL Technologies is scheduled to announce its June-September quarter earnings for FY19 on Tuesday. The company is expected to deliver steady results; however, seasonal softness in Products business is likely to weigh on organic growth.
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Shares of SKF India were trading ~2% up in morning session on Monday on news that its board would consider a buyback proposal in a meeting scheduled for October 24, 2018.
"Board Meeting to consider buyback of equity shares having a face value of Rs10 each equity/shares of the company," the company said in a press note to the exchanges on Friday after market hours.
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Shares of Bandhan Bank have locked in lower circuit of 20% at Rs 451 per share on the BSE following Reserve Bank of India’s (RBI's) decision to stop the private sector lender from opening new branches and freezing the remuneration of its managing director & chief executive (MD & CEO) Chandra Shekhar Ghosh.
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स्टील अथॉरिटी ऑफ इंडिया लिमिटेड (SAIL) की 46वीं वार्षिक आम बैठक में शेयरधारकों को संबोधित करते हुए सीएमडी सरस्वती प्रसाद ने कहा कि कंपनी ने वित्त वर्ष 2017-18 में 5,184 करोड़ रुपये EBITDA दर्ज किया, जो वित्त वर्ष 2016-17 की तुलना में महत्वपूर्ण वृद्धि है। उन्होंने कहा कि 2016-17 के मुकाबले 2017-18 में कंपनी के घाटे में 83 फीसदी की भी कमी आई है।
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Shares of Larsen & Toubro (L&T) Infotech surged 7% to Rs 1,888 on the BSE in early morning trade on Tuesday after the company’s offer for sale (OFS) on Monday got a strong response from the institutional investors. The stock was trading close to its 52-week high of Rs 1,911 touched on August 21, 2018, on the BSE in intra-day trade.
The share sale saw bids for 29.8 million shares as against 9.5 million on offer. The clearing price of Rs 1,751 fixed for non-retail bidding in L&T Infotech, the BSE data shows.
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WPIL zoomed of 20% at Rs 873, also its 52-week high on the BSE, while Roto Pumps surged 20% at Rs 108 on back of heavy volumes. Shares of WPIL and Roto Pumps are locked in upper circuit of 20% each on the BSE after these companies reported a robust set of numbers for the quarter ended June 2018 (Q1FY19). WPIL has zoomed of 20% at Rs 873, also its 52-week high on the BSE, after the company reported a more than four-fold jump in net profit at Rs 242 million in June quarter (Q1FY19).
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ICICI Bank on Wednesday, said it has made full disclosures about its bad loans and non-performing assets (NPAs) in its annual report, investor presentations and analysts' calls. Shares of ICICI Bank hit a six-month high of Rs 337, up 6% on the BSE after the private sector lender on Wednesday, said it has made full disclosures about its bad loans and non-performing assets (NPAs) in its annual report, investor presentations and analysts’ calls.
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Shares of Avenue Supermarts, which owns and operates D-Mart supermarket chain, hit a new high of Rs 1,664, up 4.5% on the BSE in intra-day trade, after the company reported a better-than-expected 43% year on year (yoy) growth in net profit at Rs 2.51 billion in June quarter (Q1FY19). It had a profit of Rs 1.75 billion in year-ago quarter. Total revenue during the quarter under review increased 26.7% at Rs 45.59 billion as compared to 35.98 billion in the same period last year.
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TCNS Clothing has made a listless debut on the bourses by opening at par against its issue price of Rs 716 per share on the National Stock Exchange (NSE). However, it opened at Rs 715, a tad below its issue price. At 10:06 am; the stock was trading at Rs 706, down 1.4% against its issue price, after hitting high of Rs 725 on the NSE and BSE post its listing. It touched a low of Rs 692 on the BSE and Rs 702 on the NSE in intra-day trade so far. A combined 3.23 million equity shares have changed hands on the counter on both the exchanges.
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Shares of ITC reported decent set of numbers, broadly in-line with estimates on all fronts in Q1FY19 numbers. The company’s revenue (net of excise duty) grew by 7.6% yoy to Rs10,707.0cr, in-line with the estimates. EBITDA grew by 12.2% yoy to Rs4,202.1cr with EBITDA margin of 39.2%, an improvement of 161bps yoy. Its PAT grew by 10.1% yoy to Rs2,818.7cr, in-line with the estimate of Rs2,815.9cr.
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Shares of public sector banks have rallied by up to 5% on the National Stock Exchange (NSE), after Canara Bank reported a net profit of Rs 2.81 billion in June quarter (Q1FY19) on the back of higher net interest income (NII). Analysts on average had expected the state-owned bank to post a loss during the quarter. Canara Bank had profit net profit of Rs 2.52 billion in year ago quarter and net loss of Rs 48.6 billion in previous quarter.
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Bajaj Finserv, NIIT Tech, VIP Ind, Asian Paints, Berger Paints, Exide Ind, Godrej Consumer and Whirlpool India were among 11 stocks from S&P BSE500 index hitting their respective new highs on the BSE. Shares of Infosys, Indiabulls Ventures, Relaxo Footwears, Bajaj Finserv, NIIT Technologies and VIP Industries were among 11 stocks from the S&P BSE500 index hitting their respective new highs on the BSE on Wednesday. Asian Paints, Berger Paints, Exide Industries, Godrej Consumer Products and Whirlpool India too hit record highs in intra-day trade today.
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Shares of Bharti Airtel were trading lower on Tuesday to hit their lowest since May 10, 2017. At 3:05 PM, Bharti Airtel share price was at Rs342.25, down Rs3.95, or 1.14%, from its previous close of Rs346.20 on the BSE. The scrip opened at Rs346.60 and has touched a high and low of Rs350.40 and Rs340, respectively. So far, 48,31,706 (NSE+BSE) shares have been traded on the counter. The BSE group 'A' stock of face value Rs5 has touched a 52-week-high of Rs565 on November 03, 2017, and a 52-week-low of Rs344.45 on July 16, 2018.
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Shares of DCB Bank Ltd fell 9% after the bank reported its Q1FY19 numbers on Saturday, June 14. The bank’s Q1FY19 NII has improved 17.1% yoy to Rs273cr against Rs233.2cr reported in the same period of the previous fiscal. Its net profit was also in-line with estimates and has improved 6.6% yoy to Rs69.5cr as against Rs65.2cr reported last year.
DCB Bank share price is currently at Rs165.25, down Rs14.2, or 7.91%, from its previous close of Rs179.45 on the BSE.
GNPA for Q1FY19 came at 1.86% against 1.79% qoq, which has increased by 7bps. NNPA for the quarter were flat qoq at 0.72%.
Net interest margin for Q1FY19 was at 3.90% as against 4.23% for Q1FY18 and 4.09% for Q4FY18. The management stated that margins are under pressure, especially in the mortgage and corporate loan book.
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The stock tanked 22% to Rs 93.35, trading at its lowest level since December 19, 2014 on the BSE. Shares of PC Jeweller hit an over two-year low of Rs 93.35 per share, falling 22% on the BSE in early morning trade after the company announced the withdrawal of proposed buyback offer due to the non-receipt of the NOC from the its bankers. The stock was trading at its lowest level since December 19, 2014. Thus far in the calendar year 2018, the stock plunged 80% from Rs 457, as compared to 7% rise in the S&P BSE Sensex.
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Crude oil was volatile in the quarter and ended on a higher note (Brent up ~11%). OPEC continued with its production cut until its meeting in June, where it decided to increase production by 1mbpd. Although prices were rising on the back of declining Venezuelan production and risks of Iran sanctions, it was balanced by the growth in US crude production to some extent. This rise in prices of crude oil is expected to improve realizations of upstream companies like ONGC and Oil India. However, this benefit is expected to be partially offset by Kerosene and LPG subsidy sharing.
We expect oil marketing companies’ performance to be weak on a qoq basis compared to the decline in Singaporean benchmark GRM and due to the expected decline in marketing margin. Singapore GRMs declined by ~13% qoq to $6.1/bbl against $7/bbl in Q4FY18.
In Q1FY19, we believe petrol and diesel prices have not been hiked in line with the rising crude prices. This would keep the marketing margin of these companies under pressure.
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Kotak Mahindra Bank, M&M, TCS and HUL rallied in the range of 21% to 26%, while Asian Paints, IndusInd Bank and Infosys up 11% to 19% from their January 29 levels. Shares of heavyweight companies from the information technology (IT) sector, private banks along with Reliance Industries (RIL) and Hindustan Unilever (HUL) have helped the S&P BSE Sensex hit a record high of 36,463 on Thursday. The benchmark index surpassed its previous high of 36,2443.98 recorded on January 29, 2018. Nifty 50 index, which touched high of 11,015.45 in intra-day trade today, is 1.4% away from its all-time high of 111,71.55 recorded in January this year.
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The stock was up 3% at Rs 346 on the BSE after the bank said that it has received the final regulatory approval SEBI to commence its mutual fund business. Shares of YES Bank were trading 3% higher at Rs 346 per share on the BSE after the bank said that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its mutual fund business. YES Bank was the top gainer among the S&P BSE Sensex and Nifty 50 stocks at 09:58 am. "YES Asset Management (India) Limited ('YAMIL') will leverage YES Bank's knowledge banking expertise and relationship capital across retail, corporate and institutional investors to effectively channelize their assets in equity and debt capital markets,” said Rana Kapoor, Managing Director & CEO, YES Bank.
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A total of 60.5 lakh shares in three entities, NSDL E-governance Infrastructure, NSDL, and SIDBI would be sold. Dena Bank’s stock rose over 3% after the public sector lender decided to sell a total of 60.5 lakh shares in three entities -- NSDL E-governance Infrastructure, NSDL, and SIDBI -- in a move to break away from its non-core assets. In a BSE filing, the Mumbai-headquartered bank stated that it will sell 6.25 lakh equity shares of Rs10 each in NSDL E-Governance Infrastructure, 6.25 lakh equity shares of Rs10 each in NSDL, and 48 lakh shares of Rs10 each in SIDBI.
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