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30
October 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were trending higher.
The major indices of the Indian stock markets were range-bound on Monday and
closed with small gains over Friday’s close. The trends of the major indices in
the course of Monday’s trading are given in the table below:
 |
| Major Indices (The Total Investment & Insurance Solutions) |
Key
Indian equity indices on Monday scaled fresh highs during the mid-afternoon
trade session due to broadly positive global cues along with a strong rupee and
buying in consumer durables, automobile and oil and gas stocks. According to
market observers, expectations of faster economic growth on the back of the
recently announced recapitalisation measures for state-run banks as well as
hopes of better quarterly results kept investors' sentiments upbeat. On the
NSE, there were 1,024 gainers, 503 losers and 37 unchanged.
FMCG
(fast moving consumer goods) major Marico on Monday reported a 2.48% rise in
its consolidated net profit to Rs185.04 crore for the second quarter (Q2) ended
September 30. The company's net profit during Q2 2016-17 stood at Rs180.55
crore. According to the company, its total income from operations rose to
Rs1,557.73 crore in Q2 -- up 6.14% -- from Rs1,467.60 crore reported during the
same quarter of 2016-17. "In Q2FY18, India business recorded a smart
recovery with a volume growth of 8% coupled with a healthy margin
performance," Marico said in a statement. "The volume growth is
mainly attributable to competitive pricing, continued investments and pipeline
refilling in general trade," it added. On a standalone basis, the
company's net profit dipped by 10.50% to Rs160.31 crore during Q2 of 2017-18,
from Rs179.13 crore posted during the same period in the previous fiscal.
During the quarter ended September 30, the total income from operations of the
company was reported at Rs1,278.49 crore -- up 4.85% -- from Rs1,220.91 crore
reported during Q2 2016-17. The statement added that the Board of Directors of
the company has declared an interim dividend of 175% (Rs1.75 per share) on its
paid up equity share capital of Rs129.07 crore, up from 150% last year. Marico
shares closed at Rs313.35, up 0.80% on the BSE.
Companies
like Lupin, Marico, Tata Steel, EIH, HDFC, Bharti Airtel, Dr Reddys Lab,
Interglobe Aviation, Hero MotoCorp, TVS Motor Co, Vedanta and Punjab National
Bank are expected to announce their quarterly results in the coming trade
week.
Reliance
Home Finance Ltd said it closed the quarter ended on September 30, 2017 with a
jump net profit and income. In a statement issued, the company said its net
profit for the said quarter stood at Rs41 crore, logging a year-on-year (YoY)
growth of 100%. The company's total income for the period was Rs407 crore, a
YoY increase of 53%. The company said the disbursements were Rs2,003 crore, a
growth of 26%, whereas assets under management as of September 30 stood at
Rs14,119 crore. The company said its gross non-performing assets ratio improved
from 1.2% to 0.8% as of September 30. The shares of the company closed at
Rs87.60, up 7.03% on the BSE.
Budget
passenger carrier SpiceJet launched its fourth daily flight under the air
regional connectivity scheme -- UDAN -- between Jaipur and Jaisalmer on October
29, 2017. According to SpiceJet, it is the only airline to offer daily direct
flight connectivity on this route which has a heavy demand from both business
and leisure travellers. Currently, SpiceJet operates on three UDAN sectors
which include Mumbai-Porbandar-Mumbai, Mumbai-Kandla-Mumbai and
Hyderabad-Puducherry-Hyderabad. On Sunday, the airline launched its new direct
flight service between Jaisalmer-Delhi. "SpiceJet will also recommence
operations on the Delhi-Jodhpur and Mumbai-Udaipur sectors the same day. With
the addition of Jaisalmer and Jodhpur, SpiceJet will be operating to 45
domestic destinations." said the company in a statement. The company’s
shares closed at Rs142.80, down 1.21% on the BSE.
Home
mortgage finance major Housing Development Finance Corp Ltd (HDFC) said it
closed the second quarter of the current fiscal with Rs2,101 crore net profit.
In a statement issued here, the company said for the quarter ended September
30, 2017, the profit after tax stood at Rs2,101 crore as compared to Rs1,827
crore in the corresponding quarter of the previous year, representing a growth
of 15%. This is after providing Rs806 crore for tax as against the previous
year's figure of Rs731 crore. The company earned a total income of Rs8,760.92
crore for the quarter ended on September 30, up from Rs8,103.15 crore earned
during the corresponding period the previous year. As on September 30, the loan
book stood at Rs324,077 crore as against Rs275,406 crore in the previous year.
The company said it sold individual loans amounting to Rs3,530 crore in the
quarter ending September 30. "Of this, Rs3,165 crore was assigned to HDFC
Bank pursuant to the buyback option embedded in the home loan arrangement
between the Corporation and HDFC Bank and Rs365 crore was assigned to another
bank," the statement said. As on September 30, the outstanding amount in
respect of individual loans sold was Rs43,435 crore. HDFC continues to service
these loans and is entitled to the residual income on the loans sold. The
company’s shares closed at Rs1,705.50, up 0.44% on the BSE.
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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