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8
November 2016
I had mentioned in Monday’s closing
report that Nifty, Sensex would be directionless. The major indices of the
Indian stock exchanges rallied on Tuesday and closed with gains of around
0.48%-0.55% over Monday’s close. However, the rally was based on lower NSE
trading volumes. The trends of the major indices in the course of Tuesday’s
trading are given in the table below: The Total Investment & Insurance
Solutions
 |
| Major Indices (The Total Investment & Insurance Solutions) |
Indian equity markets were trading
on a flat note during the mid-afternoon session on Tuesday as investors
remained cautious ahead of the US presidential election. Profit booking after
Monday's gains triggered selling pressure in healthcare, capital goods and IT
(information technology) stocks. However, close to the end of the trading
session, optimistic investors ensured a rally on thinner trading to close with
minor gains over Monday’s close. On the NSE, there were 617 advances, 849
declines and 59 unchanged. On the BSE, there were 1,354 advances, 1,528
declines and 126 unchanged. The Total Investment & Insurance
Solutions
IT, banking, pharma and auto stocks
faced resistance at higher levels. Oil-gas, textile, aviation and
media-entertainment stocks were trading down due to selling pressure, according
to market analysts. FMCG (fast moving consumer goods) and power stocks traded
with mixed sentiments, while cement stocks traded firm on buying support from
traders.
Ceat Limited, an RPG Group company,
on Monday reported a 1.55% rise in its consolidated net profit to Rs106.92
crore for the quarter ended September 30, 2016 as compared to Rs105.28 crore in
the corresponding period last year. On a consolidated basis, the tyre maker's
revenue stood at Rs1,419 crore in the three months ended September 30, up by
5.7% on a year-on-year basis. EBITDA stood at Rs194 crore from Rs192 crore on a
year on year basis, while margins were at 13.7% during the quarter. "In
this quarter, our overall sales volume grew by over 13 percent on a
year-on-year basis. This was led by double-digit growth in both domestic and
exports segments aided largely by our focus on the passenger segments. Margins
have seen slight decline year-on-year, predominantly due to price cuts taken
during the previous quarters," said Managing Director Anant Goenka. On the
products front, the company launched puncture safe tyres for bikes - a first in
India, and fuel smart series for passenger cars, a statement added. The
company’s shares closed at Rs1,305.95, up 7%, on the BSE.
Assurance, tax and advisory firm
Grant Thornton's business confidence report has revealed that policy reforms
and the upcoming implementation of the Goods and Services Tax (GST) has buoyed
India Inc's hopes of a rise in exports during the coming quarters. According to
the latest Grant Thornton International Business Report survey, 38% respondents
said they expect an increase in exports. The result shows a three point jump
than the previous quarter, when 35% voted for an increase in exports during Q2
2016. Only 13% of the surveyed had positively responded to the expectations of
a rise in exports during Q1 2016. "Ongoing policy reforms measures and the
upcoming implementation of GST, coupled with the stability in Indian currency
and its competitiveness, has led to an increase in optimism over rise in
exports in the coming quarters," Harish HV, Partner - India Leadership
team, Grant Thornton India LLP, told IANS. "GST is expected to have a
positive impact as it will reduce the cost of logistics and hasten-up the
movement of cargo. On the global front, the rise in manufacturing cost in China
is also expected to lead to a cost advantage for Indian exports." This is
also likely to keep the Indian rupee stable in the currency market and keep
attracting investments from foreign institutional investors. The Total Investment
& Insurance Solutions
Private sector ICICI Bank Ltd on Monday
said it closed the second quarter of the current fiscal with a net profit of
Rs3,102.27 crore as compared to Rs3,030.11 crore for the same quarter last
year. In a regulatory filing in BSE, the bank said it its total income has
increased from Rs16,106.22 crore for the quarter ended September 30, 2015 to
Rs22,759.08 crore for the quarter ended September 30, 2016. During the quarter,
the bank launched the Unified Payments Interface, or UPI and enabled
UPI based transactions on its’ mobile
banking applications -‘iMobile’ and ‘Pockets’.
The bank now has over 200,000 Virtual Payment Addresses on UPI. The bank
is also working on tie-ups with several merchants to enable UPI-based
‘person-to-merchant’ transactions. The bank recently became
the first bank in India to
successfully exchange and authenticate remittance
transaction messages and original international
trade documents using block-chain technology. On Tuesday, the
bank’s shares closed at Rs283.20, up 1.60% on the BSE. The Total Investment
& Insurance Solutions
The top gainers and top losers of
the major indices are given in the table below:
 |
| Top Gainer (The Total Investment & Insurance Solutions) |
The closing values of the major
Asian indices are given in the table below: The Total Investment
& Insurance Solutions
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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