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26
October 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex rally was likely to
continue. The major indices of the Indian stock markets were range-bound on
Thursday and closed with gains over 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)
Buying
in interest rate sensitive stocks, derivatives expiry and broadly positive
global cues buoyed the Indian equity markets during the mid-afternoon trade
session on Thursday. According to market observers, the off-take in interest
rate sensitive stocks along with those of metals, healthcare and oil and gas scrips
kept the indices on the higher side. On the NSE, there were 790 advances, 680
declines and 44 unchanged. The Total
Investment & Insurance Solutions
Trying
to ensure compliance with anti-money laundering rules, the BSE Indian equities
exchange on Thursday asked its brokers to state/update their preparedness,
mention the number of active clients and mention the number of clients who have
submitted their Aadhaar numbers. In a circular the stock exchange said:
"Members are hereby requested to note that, the number of clients complied
to be mentioned should be the cumulative number of clients who have complied
with submitting Aadhaar numbers with respect to the client categories covered
in the Amendment to PML (Maintenance of Records) Rules, 2005."
"Members are requested to submit/update the details by October 31, 2017;
after which the above link will be disabled and data will be sent to SEBI
(Securities Exchange Board of India)," it added. The circular said in the
case of an individual one has to furnish his/her Aadhaar details. In the case
of a company, "managers, officers or employees holding attorney to
transact on company's behalf" need to submit Aadhaar details. These
developments are likely to lower the entry of black money into the stock
markets in India and hence, protect the investors from volatility to a certain
extent.
Fast
moving consumer goods (FMCG) company Emami Ltd reported a 49.69% rise in its
consolidated net profit to Rs98.60 crore for the quarter ended September 30,
2017 as compared to Rs65.87 crore in the year ago period. During the period
under review, its revenue from operations after incorporating changes in
accounting treatment of indirect tax was at Rs712.48 crore as compared to
Rs625.34 crore in the year-ago period. "After a challenging Q1 faced with
GST apprehensions resulting in substantial wholesale destocking, in the second
quarter, we have recovered significantly. Both topline and bottomline have
registered handsome growth at around 14% and 49% respectively," said
company's Director Mohan Goenka. Post GST, the wholesale channels are yet to
recover completely from the impact, which the firm expects to improve in the
second half of the year, he said, adding that international business is also
back on track riding on the base effect of last year's performance. The company’s
shares closed at Rs1,208.80, up 3.31% on the BSE.
FMCG
major Hindustan Unilever Limited (HUL) reported a rise of 16.46% in its net
profit for the second quarter of 2017-18. According to the FMCG major, its net
profit during the quarter under review grew to Rs1,276 crore from Rs1,096 crore
reported for the corresponding quarter of last fiscal. However, HUL's net sales
during the quarter under review inched-down by 1.63%t to Rs8,199 crore from
Rs8,335 crore reported for the Q2 of last fiscal. "While transition to GST
impacted trade purchases in early part of the quarter, consumer offtake
remained stable," the company said in a statement. "Trade conditions
continue to improve and the wholesale channel is steadily normalising."
The company’s shares closed at Rs1,271.35, down 0.17% on the BSE. The Total Investment & Insurance Solutions
Battery
major Exide Industries reported a 25.46% fall in its net profit to Rs135.52
crore for the quarter ended September 30, 2017 as compared to Rs181.81 crore
for the year-ago period. Its revenue from operation in the quarter under review
grew over 9 per cent stood at Rs2,371.32 crore, up by 9% from Rs2,170.91 crore,
according to a regulatory filing. According to the company, the fall in net
profit was on the back of Rs41.83 crore expenses incurred due to settlement of
the usage of "Exide" mark in India. “Exceptional item of Rs41.83
crore charged for the quarter represents expenses incurred towards settlement
of dispute with Exide Technologies, USA in relation to the usage of the name or
mark Exide," the company said in a statement. The company’s shares
closed at Rs206.45, down -1.22% on the BSE. The Total Investment & Insurance Solutions
A
day after the Maharashtra cabinet's green signal, the City & Industrial
Development Corporation issued a Letter of Award to GVK-led Mumbai
International Airport Pvt Ltd for starting construction of the Rs16,000 crore
new Navi Mumbai International Airport. This came nearly nine months after the
MIAL was declared the winning bidder for the Greenfield Airport project coming
up on 1160-hectares in the PPP mode with CIDCO. While MIAL will hold 74% stake,
CIDO will hold 26%, foot the pre-development expenses which will be later
recovered from GVK, besides getting a 12.6% share in the annual revenue from
the mega-project. The GVK, which currently manages the Mumbai International Airport
Ltd, had submitted the highest revenue sharing model of 12.6% per annum over
its sole closest competitor GMR (which manages the New Delhi International
Airport) which had quoted a figure of 10.44%.
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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