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28
April 2017
I had
mentioned in the last week’s closing report that Nifty, Sensex may give up some
gains. The equity markets indices crossed the psychological mark of 30,000 and
9,300 this week, however on Friday Sensex closed below the 30,000 mark. The
trends of the major indices in the course of Wednesday’s trading are given in
the table below: The Total
Investment & Insurance Solutions
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
Trading
for the week began on a strong note as domestic stocks rallied in tandem with
global markets; S&P BSE Sensex jumped 290.54 points or 0.99% to settle at
29,655.84. The Nifty 50 index rose 96.55 points or 1.06% to settle at 9,215.95.
Both the Sensex and the Nifty settled at almost two-week high. The Total Investment & Insurance Solutions
UltraTech
Cement rose 4.42%. The company's consolidated net profit declined 11.24% to Rs
726 crore on 2.59% growth in net sales to Rs 6922 crore in Q4 March 2017 over
Q4 March 2016. UltraTech said that work on setting up the 3.5 million tonnes
per annum (MTPA) integrated cement plant at Dhar, Madhya Pradesh is on track.
Commercial production is expected to commence from Q4 of FY 2019. With this
expansion and the acquisition of the cement plants of Jaiprakash Associates,
the company's cement capacity will stand augmented to 95.4 MTPA, including its
overseas operations. The Total Investment
& Insurance Solutions
Key
benchmark indices on Tuesday logged strong gains, S&P BSE Sensex, jumped
287.40 points or 0.97% to settle at 29,943.24. The Nifty 50 index surged 88.65
points or 0.96% to settle at 9,306.60. The Sensex hit its highest closing level
in almost three weeks. The Nifty hit a record high on intraday as well as
closing basis. Today's gains were led by index heavyweights ITC, HDFC and
Reliance Industries (RIL). The BSE market breadth was bullish – with 1467
advances, 1444 declines and 169 unchanged. Similarly, on NSE, there were 803
advances, 707 declines and 64 unchanged. The Total Investment & Insurance Solutions
RIL
gained 1.14% to Rs1,432.50 after consolidated net profit excluding exceptional
items rose 16.6% to Rs8046 crore on 45.2% growth in turnover to Rs92,889 crore
in Q4 March 2017 over Q4 March 2016. The result was announced after market
hours yesterday, 24 April 2017. RIL increase in revenue in Q4 was primarily on
account of increase in prices of refining and petrochemical products on the
back of higher oil prices. Turnover was also boosted by robust growth in retail
business. The Total Investment & Insurance
Solutions
RIL
said, Reliance Jio Infocomm, a subsidiary of RIL crossed 50 million subscribers
in just 83 days, and 100 million in 170 days, adding at an average rate of 6
lakh subscribers per day. Jio continues its rapid ramp-up of subscriber base
and as of 31 March 2017, there were 10.89 crore subscribers on the network. The Total Investment & Insurance Solutions
On
Wednesday, positive Asian stocks pushed the key benchmark indices higher for
third day in a row. The barometer index, the S&P BSE Sensex, rose 190.11
points or 0.63% to settle at 30,133.35. The Nifty 50 index rose 45.25 points or
0.49% to settle at 9,351.85. The Sensex and the Nifty, both, hit record high in
intraday day as well as closing basis. Sentiment was also boosted after the
ruling party at the Centre, BJP's massive win in the Delhi civic elections.
IT
major Wipro shed 0.8% to Rs 490.60 in volatile trade after hitting an intraday
high of Rs 513 and intraday low of Rs 489. The company's consolidated net profit
rose 7.2% to Rs 2267 crore on 4.86% rise in total income to Rs 15033.80 crore
in Q4 March 2017 over Q3 December 2016. The result was announced after market
hours yesterday, 25 April 2017. In its outlook, Wipro expects revenues from its
IT services business to be in the range of $1915 million to $1955 million for
the Q1 June 2017. Wipro's board recommended 1:1 bonus issue of shares.
On
Thursday, profit booking after three-day gains pushed the key benchmark indices
modestly lower after scaling record highs in intraday trade. The S&P BSE
Sensex fell 103.61 points or 0.34% to settle at 30,029.74. The Nifty 50 index
fell 9.70 points or 0.10% to settle at 9,342.15. The Sensex ended a tad above
the psychologically important 30,000 mark after briefly sliding below that
level in late trade. Selling in index pivotals, ITC and HDFC weighed on indices
as domestic bourses remained in negative zone for most part of the day.
Maruti
Suzuki India fell 0.56% to Rs6,371.15. The company's net profit rose 15.8% to
Rs1709 crore and net sales grew by 20.3% to Rs18005.20 crore in Q4 March 2017
over Q4 March 2016. Growth in volumes, increase in share of the company's
higher segment models, benefits due to full capacity utilization and cost
reduction efforts contributed to increase in profits. This was partially offset
by increase in commodity prices and adverse forex movement.
IT
major Infosys was up 1.08% at Rs923.95 after the company announced that it has
launched Infosys Nia-the next generation integrated artificial intelligence
platform. The announcement was made after market hours yesterday, 26 April
2017. The product was launched building on the success of the company's
first-generation AI platform, Infosys Mana, and its Robotic Process Automation
(RPA) solution, AssistEdge. Together, both these products have amassed 50 plus
clients and 150 plus engagements across all industry sectors, within a year of
operations.
On
Friday, key benchmark indices declined for second consecutive session as
investors booked profits after recent gains. The barometer index, the S&P
BSE Sensex, fell 111.34 points or 0.37% to settle at 29,918.40. The Nifty 50
index fell 38.10 points or 0.41% to settle at 9,304.05. The Sensex ended below
the psychologically important 30,000 mark. It had closed above that level
during the previous trading session. The Nifty ended above the 9,300 mark after
flirting with that level in the intraday. The
Total Investment & Insurance Solutions
Selling
in index pivotals ITC and HDFC Bank weighed on indices as domestic bourses
remained in negative zone throughout the session. Metal shares were in demand.
Public sector banks rose across the board. The
Total Investment & Insurance Solutions
Federal
Bank surged 13.58% to Rs 107.45 after net profit spurted to Rs 256.59 crore on
14.8% rise in total income to Rs 2598.06 crore in Q4 March 2017 over Q4 March
2016. Kotak Mahindra Bank fell 1.42% to Rs 901.60. The bank announced that it
has entered into an agreement to purchase the entire 26% equity stake held by
Old Mutual plc, UK (OM) in Kotak Mutual Life Insurance for a consideration of
Rs 1292.70 crore. The announcement was made before market hours today, 28 April
2017. After the completion of the transaction, Kotak Mahindra Group will hold
100% stake in Kotak Life. Kotak Life is currently a joint venture between Kotak
Group and OM. The Total Investment & Insurance
Solutions
Union
Bank of India jumped 6.91% to Rs 170.90 after the bank said that the board of
directors approved capital raising for FY 2018 in a meeting held today, 28
April 2017. Union Bank of India's board of directors approved capital plan for
the year ending 31 March 2018 (FY 2018). The board approved to raise total
capital funds up to Rs 6350 crore during FY 2018 in the form of core equity
capital and/or additional tier 1 (AT1) bonds and/or tier 2 bonds, subject to
maximum issue of Rs 4800 crore, within overall limit of Rs 6350 crore, of
additional tier 1 (AT1) bonds and/or tier 2 bonds. The board approved to raise
equity capital not exceeding Rs 4950 crore, within overall limit of Rs 6350
crore, during FY 2018 through public issue (i.e. follow-on-public issue) and/or
rights issue and/or private placement, including qualified institutional
placements and/or preferential allotment to the Government of India or other
institutions and/or any other mode(s) subject to necessary approvals.
Indiabulls
Real Estate dropped 4.31% to Rs 149.75 after consolidated net profit fell 3.73%
to Rs 60.18 crore on 25.84% fall in total income to Rs 545.15 crore in Q4 March
2017 over Q4 March 2016. Earnings before interest, taxes, depreciation and
amortization (EBITDA) margin excluding non operating income rose to 32.55% in
Q4 March 2017 from 28.18% in Q4 March 2016. The result was announced after
market hours yesterday, 27 April 2017.
Overseas,
most European shares were trading higher as euro-zone inflation rose a bit more
than expected. Consumer price inflation (CPI) in the euro zone increased more
than expected in April. In a report, Eurostat said consumer price inflation
rose by a seasonally adjusted 1.9% in April, following a final reading of a
2.0% advance in the prior month.
UK's
FTSE 100 was down 0.30%. The UK economy slowed sharply in the first quarter as
consumers pared back spending, a warning sign on growth ahead of a national
election in June and the start of Britain's exit talks with the European Union.
The British economy expanded at a quarterly rate of 0.3% in the first quarter
of 2017, the U.K.'s Office for National Statistics said Friday, less than half
the speed of the 0.7% expansion recorded in the final three months of last
year. It was the weakest quarterly expansion since the first quarter of 2016.The Total Investment & Insurance Solutions
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