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27Th July 2016
I had mentioned in Tuesday’s closing report
that Nifty, Sensex were still under the control of bulls. The major indices of
the Indian stock markets ended with marginal gains. The Total Investment & Insurance Solutions
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Major Indices (The Total Investment & Insurance
Solutions)
Profit booking, combined with caution ahead
of derivatives expiry and a key announcement over the US interest rates, made
the Sensex oscillate in a 300-point range. Sensex had earlier receded during
the mid-afternoon trade session after touching new intra-day highs for the last
11 months. The BSE market breadth was slightly tilted in favour of the bears --
with 1,341 declines and 1,317 advances. On the NSE advances, there were 787
advances, 798 declines and 78 unchanged.
The Total Investment & Insurance Solutions
Yes Bank on Wednesday posted a net profit at
Rs731.80 crore for the first quarter ending in June on the back of higher net
interest and other incomes -- a 32.76% rise. The private sector bank had
reported a net profit of Rs551.20 crore in the same period an year ago. The
bank's net interest income increased 24.23% to Rs1,316.58 crore in the quarter,
from Rs1,059.81 crore in the April-June period last year. Its other income
during the quarter in question jumped over 65% to Rs900.52 crore from Rs545.17
crore in the same period last year. Net interest margin expanded to 3.4% from
3.3% in the year-ago period. "Given the improving macroeconomic
environment along with stable asset quality and accelerating retail franchise,
the bank is well poised to capture market share across retail and corporate
segments at an enhanced pace," the bank's Chief Executive Rana Kapoor said
in a statement. Yes Bank's gross Non-Performing Assets (NPA), or bad loans,
during the quarter in consideration grew by 12.76% to Rs844.56 crore, from
Rs748.98 crore in the previous quarter. Gross NPAs stood at 0.79% of total
loans at the end of the June quarter, as compared to 0.46% in the same period a
year ago quarter. The bank's shares closed at Rs1,200.10 on the Bombay Stock
Exchange. The Total Investment &
Insurance Solutions
Passenger car major Maruti Suzuki on Wednesday
announced that the sales of its first light commercial vehicle (LCV), Super
Carry, will commence from August end. The company said that the new vehicle
will be initially sold in three cities -- Ahmedabad (Rs4.03 lakh), Kolkata
(Rs4.11 lakh) and Ludhiana (Rs4.01 lakh), through dedicated channels. According
to RS Kalsi, Executive Director (Marketing and Sales), Maruti Suzuki, the new
vehicle has been designed and developed on the basis of detailed research and
understanding of customer requirements. The company pointed out that it has
invested about Rs300 crore towards the development of Super Carry, which will
be available in diesel fuel option. The LCV is powered by a 793 cc diesel
engine which is mated to a five-speed manual transmission. The new vehicle
offers a fuel efficiency of 22.07 km per litre and a maximum speed of 80 km per
hour. It has a payload capacity of 740 kg. Maruti Suzuki shares closed at
Rs4,558.85, up 1.64% on the BSE.
Two- and three-wheeler major Bajaj Auto
reported a rise of just 2% in its net profit for the first quarter (Q1) of
2016-17. The automobile major's net profit increased to Rs978 crore for the
quarter ended June 30, 2016, from Rs957 crore in the corresponding period of
2015-16. According to the company, its turnover (which includes excise duty)
for the quarter under review increased by 2.71% to Rs6,356 crore from Rs6,188
crore for the quarter ended June 30, 2015. "Despite input cost pressures
and continuing headwinds in export markets, the company has declared an industry
high EBITDA (earnings before interest, taxes, depreciation and amortisation) of
21.2%," the company said in a statement. However, Bajaj Auto's overall
quarterly sales including exports slipped by 1.80% to 994,733 units from
1,013,029 units sold during the corresponding quarter of 2015-16. Further, the
company reported a growth of 13.78% in its Q1 consolidated net profit which
stood at Rs1,040 crore from Rs914 crore. Bajaj Auto shares closed at
Rs2,668.75, down 0.05% on the BSE.
The top gainers and top losers of the major
indices are given in the table below: The
Total Investment & Insurance Solutions
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Top Gainer (The Total Investment & Insurance Solutions)
The closing values of major Asian indices are
given in the table below: The
Total Investment & Insurance Solutions
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Asian Indices (The Total Investment & Insurance
Solutions)
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