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31 October 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex were continuing to be
on an upward trend. The major indices of the Indian stock markets were
range-bound on Tuesday and closed with small losses over Monday’s close. On the
NSE, there were 777 advances, 757 declines and 49 unchanged. The trends of the
major indices in the course of Tuesday’s trading are given in the table:
 |
Major Indices (The Total
Investment & Insurance Solutions)
FMCG
(fast moving consumer goods) major Dabur India on Tuesday reported a 5.46% rise
in its standalone net profit for the second quarter (Q2) ended September 30.
The company's standalone net profit for Q2 stood at Rs283.41 crore as compared
to the net profit of Rs268.72 crore reported during the corresponding period of
the last fiscal. For Q2, the total income of the FMCG major was reported at
Rs1,492.62 crore -- up 3.96% -- from Rs1,435.75 crore posted during Q2 2016-17.
According to the company, a strong surge in the domestic consumer growth was
reported during the second quarter of 2017-18 financial year with the GST
headwinds settling down and improved consumer off-take in domestic markets. On
a consolidated basis, the company's net profit for Q2 2017-18 was up 1.20% at
Rs362.67 crore. However, the total income fell by 1.33% to Rs2,043.25 crore
during the quarter ended September 30, 2017-18 from Rs2,070.87 crore reported
during the same period in 2016-17. "We continue to invest behind our
brands and are confident of our ability to report profitable growth, going
forward. We have navigated the external business environment well," said
Dabur India Chief Executive Officer Sunil Duggal. "Our standalone
operating profit for the quarter reported an 11.2% growth. The medium to
long-term prospects, particularly for India, remain robust and we are confident
that domestic consumer demand will gain pace in months to come," Duggal
said. The statement added that the Board of Directors declared an interim
dividend of 125% for 2017-18.The company’s shares closed at Rs333.10, up 3.62%
on the BSE.
Wockhardt
Ltd reported consolidated net loss of Rs3.3 crore for the second quarter of
2017-18 as against net profit of Rs17 crore in the same period year ago.
Sequentially, however, the city-based company reduced net loss to single digit
in Q2 drastically from Rs410 crore posted quarter ago. In a regulatory filing
on the BSE, the drug maker said consolidated revenue from operations for the
quarter under review declined 4% annually to Rs1,022 crore from Rs1,065 crore
in the same period year ago, but grew 15% sequentially from Rs891 crore last
quarter. On standalone basis, though net profit declined a whopping 83% to Rs25
crore in Q2 from Rs146 crore in the same period last year, it recovered from a
sequential net loss of Rs102 crore posted last quarter. Revenue at Rs589 crore
was 1.5% lower than Rs598 crore in the same period year ago but up 34%
sequentially from Rs440 crore quarter ago. Meanwhile, the company's Board has
appointed Zahabiya Khorakiwala as Additional Director with effect from Monday.
The company’s shares closed at Rs646.65, down 0.01% on the BSE.
State-run
Bharat Electronics Ltd (BEL) reported Rs412 crore net profit for the second
quarter of 2017-18, registering 19 per cent annual growth from Rs346 crore in
the same period year ago. "Sales turnover for the quarter under review at
Rs2,432 crore is up 46 per cent annually from Rs1,664 crore in the like period
year ago," said the defence firm in a statement here. Profit before tax
grew 26% annually to Rs587 crore for Q2 from Rs464 crore last year.
"The company's order book position is at Rs41,746 crore as on October 1
after the first six months of the fiscal," added the statement. The
company’s shares closed at Rs184.80, up 5.33% on the BSE.
LIC
Housing Finance Ltd reported a 1.13% decrease in its net profit at Rs489.12
crore for the quarter ended September 30, 2017 as compared to Rs494.76 crore in
the year-ago period. Its revenue from operations, in the quarter under review,
was at Rs3,687.41 crore, up by 6.68% from Rs3,456.45 crore in the year ago
period. The company, which has a main business of providing loans for purchase
or construction of residential houses, reported its total expenses during the
quarter stood at Rs2,968.56 crore, up by 8.7% from Rs2,729.26 crore in the
corresponding period last year. The company’s shares closed at Rs599.45, down
3.21% on the BSE.
US
stocks traded mostly lower as investors mainly focused on earnings reports as
well as economic data. The Dow Jones Industrial Average on Monday shed 81.57
points, or 0.35%, to 23,352.62. The S&P 500 lost 10.43 points, or
0.40%, to 2,570.64. The Nasdaq Composite Index inched down 14.25 points, or
0.21%, to 6,687.02. US personal income increased $66.9 billion, or 0.4%,
in September, according to the Commerce Department on Monday. In September, US
disposable personal income (DPI) increased $53 billion, or 0.4%, and personal
consumption expenditures (PCE) increased $136 billion, or 1%. Meanwhile, investors
continued to keep a close eye on earnings this week, with Apple, Tesla and
Starbucks, among others, set to report.
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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