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11
May 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex were on an uptrend
again. The major indices of the Indian stock markets were range-bound on
Thursday and ended flat, compared to Wednesday’s close. The trends of the
major indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
On
the NSE, there were 572 advances, 910 declines and 55 unchanged. On the BSE,
there were 1,247 advances, 1,583 declines and 162 unchanged. Market observers
pointed out that the upward trajectory of the key indices was backed by healthy
monsoon forecast and buying in automobile, banking and metal stocks. The equity
benchmark indices started on a firm note and continued their run tracking
positive Asian cues and appreciation of the rupee against the US dollar. Both
the indices hit fresh all-time highs in the morning session. Good corporate
earnings, sustained fund inflows and normal monsoon forecast supported the firm
sentiments, pointed our market analysts. Most banking stocks traded with firm
sentiments lead by Canara Bank, Bank of India and Bank of Baroda. Realty,
media-entertainment and cement sector stocks complemented the firmness of the
equity markets, observed market analysts.
Global
software major HCL Technologies Ltd, which posted double-digit net profit and
revenue growth for the fourth quarter (Q4) and fiscal 2016-17, on Thursday
projected flat revenue growth for fiscal 2017-18 in dollar terms. "Revenue
for fiscal 2017-18 (FY 2018) is expected to grow 9.9%-11.9% year-on-year (YoY)
as compared to 11.9% YoY growth posted in fiscal 2016-17 (FY 2017) in dollar
terms," said the Noida-based company in a statement. In constant currency,
revenue is expected to grow 10.5%-12.5% YoY in dollar terms. "The revenue
guidance is based on average exchange rate of US dollar (Rs65.50) and other
currencies in FY 2017," noted the statement. Operating Margin is expected
to be 19.5%-20.5% for FY 2018. In a regulatory filing on the BSE earlier in the
day, the company said it posted Rs2,325 crore consolidated net profit for Q4
registering 21% YoY growth from Rs1,926 crore in the same period year ago
(2015-16). Sequentially, the net profit in Q4 (Rs2,325 crore) increased from
Rs2,070 crore in the third
quarter
(Q3), posting 12.3 per cent Quarter-on-Quarter (QoQ) growth. Consolidated
revenue for the quarter (Q4) under review grew 12.7% YoY to Rs12,053 crore from
Rs10,698 crore in like period year ago and two per cent QoQ from Rs11,814 crore
quarter ago (Q3). For FY 2017 under review, net profit grew 15% YoY to Rs8,457
crore from Rs7,354 crore year ago (FY 2016) and revenue 14.2% YoY to Rs46,723
crore from Rs40,913 crore year ago (FY 2016). With a net addition of 11,077
employees in FY 2017, the headcount increased to 115,973 from 104,896 in FY
2016, while annual attrition declined marginally to 16.9% from 17.3% year ago.
The company’s shares closed at Rs838.65, down 0.43% on the BSE.
Bucking
the trend, global software major Tata Consultancy Services (TCS) has ruled out
laying-off employees in the near future and instead plans to create more jobs.
"No, certainly no," Rajesh Gopinathan, CEO and MD of TCS, told IANS
here on Thursday when asked if there were any plans of laying-off employees or
downsize as some other big players in India's IT sector have said they would
do. "We are here to create jobs, not to downsize," he asserted after
TCS launched a BPO centre here to create new opportunities as part of the
government's Digital India push. TCS’ shares closed at Rs2,351.25, up 0.80% on
the BSE.
Two-wheeler
major Hero MotoCop reported a decline of 13.86% in its standalone net profit
for the fourth quarter (Q4) of 2016-17. According to the company, its net
profit during the quarter under review decreased to R 717.75 crore from
Rs833.29 crore in the corresponding period of 2015-16. The total income of the
company fell by 7.55% to Rs7,606.31 crore from Rs8,227.93 crore during the
corresponding quarter of 2015-16. Further, Hero MotoCorp reported a drop of
5.8% in its sales during Q4 to 16,21,805 units from 17,21,240 units. On a full
financial year 2016-17 basis, the two-wheeler major reported a 6.86% increase
in its standalone net profit to Rs3,377.12 crore from Rs3,160.19 crore in
2015-16. The company’s shares closed at Rs3,463.80, up 4.26% on the BSE.
The
Indian arm of German power distribution products maker Siemens Ltd reported
Rs186 crore net profits for its second quarter ending March 31, as against
Rs189 crore, registering flat year-on-year (YoY) growth. In a regulatory filing
on the BSE, the city-based company said sales revenue for the quarter under
review (Q2) grew 24% YoY to Rs2,983 crore from Rs2,407 crore in like period
year ago. For the first half (October-March) of its financial year 2016-17, net
profit grew 16% YoY to Rs347 crore from Rs299 crore in like period year ago,
while sales revenue for the same period (six months) grew 2.5% YoY to Rs5,320
crore from Rs5,193 crore in like period year ago (2015-16). "Orders for
the second quarter (Q2) grew 96% YoY to Rs4,725 crore from Rs2,410 crore in
like period year ago," said the company in a statement later. The fresh
orders for the quarter (Q2) included a large one for HVDC (high-voltage direct
current) transmission system from the state-run Power Grid Corporation of India
Ltd, valued at Rs1,682 crore. "Orders for the first half (H1) of the
fiscal under review grew 45% YoY to Rs7,948 crore from Rs5,486 crore in like
period year ago," added the statement. Siemens’ shares closed at
Rs1,405.05, down 3.82% 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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