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8
November 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex might remain under
pressure. The major indices of the Indian stock markets were range-bound on
Wednesday and closed with losses over Tuesday’s close. The trends of the
major indices in the course of Wednesday’s trading are given in the table
below: The Total Investment &
Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Short-covering,
along with positive Asian markets and buying in pharmaceuticals’ stocks led the
key domestic equity indices to trade on a flat-to-positive note during the noon
session on Wednesday. According to market observers, buying support was
witnessed for the banking, IT (information technology) and capital goods
counters, whereas selling was seen in consumer durables, metals and oil and gas
stocks. As the trading session came to its conclusion the gains were not
sustained and there were small losses over Tuesday’s close for the major
indices. On the NSE, there were 429 advances, 989 declines and 38 unchanged. The
Total Investment & Insurance Solutions
Coal
India is going to "legally" examine the show cause notices issued by
the Odisha government to its subsidiary - Mahanadi Coalfields Ltd - carrying
penalty of Rs20,169 crore for violating mining plans, environmental norms and
other regulations, a top company official said on Wednesday. "We have to
get it examined legally and we have to see what are the legal provisions,"
Coal India Chairman Gopal Singh said on the sidelines of the 7th Asian Mining
Congress here. The respective deputy directors of mines in the Talcher,
Rourkela and Sambalpur circles had issued 24 notices on October 31 to the
officers of mining projects of Mahanadi Coalfields. The subsidiary received
those on November 1. "The show cause notices have been issued for a total
amount of Rs20,169 crore towards compensation under section 21(5) of the Mines
& Mineral Development Regulations (MMDR) Act, 1957, for production in
violation of mining plan, Environmental Protection Act 1986, Water (Prevention
and Control of Pollution) Act, 1974, and Air (Prevention and Control of
Pollution) Act, 1981...," Coal India on Monday had said in a regulatory
filing. Coal India shares closed at Rs288.05, up 0.63% on the NSE. The
Total Investment & Insurance Solutions
GlaxoSmithkline
Consumer Healthcare Ltd reported a Rs192-crore net profit for the second
quarter (Q2) of fiscal 2017-18, registering a marginal 4.3% annual growth from
Rs184 crore in the same period last year. Sequentially, however, the net profit
for Q2 is 46% up from Rs132 crore posted in the last quarter. In a regulatory
filing on the BSE, the NCR-based company said the revenue from operations at
Rs1,115 crore for Q2 was 6.5% annually lower than Rs1,193 crore in the like
period of last year but up 6.6% sequentially from Rs1,046 crore in the last quarter.
The company’s shares closed at Rs5,697.45, up 4.21% on the NSE.
State-run
Bharat Heavy Electricals Limited (BHEL) reported a 5.9% rise in its net profit
to Rs115.42 crore in the quarter ended September 30, 2017 as compared to Rs109
crore in the corresponding period last year. Its total revenue from operations
during the quarter stood at Rs6,297.05 crore, down by 8.6% from Rs6,893.71
crore in the year-ago period. The engineering major said its total expenses in
the second quarter of the current fiscal decreased by 4.5% to Rs6,634.83 crore
as against Rs6,951.64 crore in the year-ago period. It said power sector
contributed Rs5,064.66 crore to its sales during the quarter while the
industry's share was Rs1,103.70 crore. The company posted Rs196.24 crore of net
profit in the first six months ended September 30, for the current fiscal as
compared to Rs186.77 crore in the same period last year. The company’s shares
closed at Rs90, down 3.43% on the NSE.
Public
sector Indian Overseas Bank (IOB) said it closed the second quarter of the
current fiscal with a higher net loss of Rs1,222.50 crore, up from Rs765.13
crore posted during the corresponding quarter of the previous year. In a
regulatory filing in the BSE, the bank also said its total income stood at Rs5,610.35
crore for the quarter ended September 30, 2017 down from Rs5,961.62 crore for
the same quarter last year. The bank's gross and net non-performing assets
(NPA) as on September 30, 2017 stood at Rs34,708.59 crore and Rs18,949.55 crore
respectively against a Rs34,724.12 crore and Rs20,765.31 crore respectively in
the same quarter last year. The bank’s shares closed at Rs24.90, down 1.18% on
the NSE. The Total Investment & Insurance Solutions
Pharma-cum-biotech
firm Cipla reported Rs423 crore consolidated net profit for the second quarter
of 2017-18, registering 19% annual growth from Rs354 crore in the same period
last year. Sequentially, however, the net profit for Q2 is marginally up 3%
from Rs409 crore in the last quarter. In a regulatory filing on the BSE, the
city-based firm said consolidated income from operations for Q2 at Rs4,082
crore was 9% up annually from Rs3,751 crore in the like period last year and
16% up sequentially from Rs3,525 crore in the last quarter. Earnings before
interest, tax, depreciation and amortization (Ebitda) grew 18% annually to
Rs804 crore in Q2 from Rs681 crore and 24% sequentially from Rs641 crore from
the last quarter. "The quarter saw significant growth in India business
and momentum across other key businesses with control on spends leading to
improvement in the Ebitda margins," said the company in a statement. Its
India business grew 12% yearly and 30% quarterly. On a comparative basis, when
adjusted for the impact of the Goods and Services Tax (GST), the growth was 19%
yearly. The company’s shares closed at Rs622.60, up 2.21% on the NSE.
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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