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3
November 2017
I had
mentioned in last week’s closing report that Nifty, Sensex were in an upward
trend. The major indices of the Indian stock markets rallied during the week
and closed on Friday with gains over last Friday’s close. The trends of the
major indices in the course of the week’s trading are given in the table below: The Total Investment & Insurance
Solutions
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Weekly Indices (The Total
Investment & Insurance Solutions)
Key
Indian equity indices on Monday scaled fresh highs 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. The Total Investment & Insurance
Solutions
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. The Total Investment & Insurance
Solutions
The
major indices of the Indian stock markets were range-bound on Tuesday and
closed with small losses over Monday’s close. 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. The Total
Investment & Insurance Solutions
Positive
global cues, coupled with a strong rupee and as well as the latest report that
India for the first time has moved into the top 100 in the World Bank's Ease of
Doing Business global rankings riding, gave a boost to investors' sentiments.
Buying in banking, metals and FMCG (fast moving consumer goods) stocks,
propelled the key Indian equity indices to new record highs during the
mid-afternoon trade session on Wednesday. On the NSE, there were 813 advances,
689 declines and 37 unchanged.
The Total Investment & Insurance Solutions
Two
wheeler maker Eicher Motors Ltd on Wednesday said it logged 18% sales growth
last month as compared to the same period last year. In a regulatory filing in
the BSE, the company said it sold 69,492 units last month, up from 59,127 units
sold in October 2016. For the period April-October 2017, the company has sold
456,355 units up from 373,551 units sold during the corresponding period in
2016.
Pharma
major Dr Reddy's Laboratories reported a 3.42% drop in net profit during Q2,
primarily due to price erosion in its US market. The net profit during the
quarter ended September was Rs284.90 crore against Rs295 crore in the
corresponding quarter of last year. The revenues at Rs3,546 crore declined by
1% year-on-year but improved 7% over the previous quarter. The revenue growth
in North America, the biggest market, fell by 11% year-on-year to Rs1,431.8
crore from Rs1,613.4 crore in the same quarter last year. The
quarter-on-quarter decline was 4%. The Total Investment & Insurance Solutions
After
opening in the green, the two key Indian equity indices traded in the red on
Thursday as investors booked profits in metal, automobile and FMCG (fast moving
consumer goods) stocks. Despite that, the broader Nifty50 of the National Stock
Exchange scaled a fresh intra-day high of 10,453 points, surpassing its
Wednesday's intra-day record high of 10,451.65 points. On the NSE, there were
741 advances, 810 declines and 59 unchanged.
The
shares of Sun Pharma, Lupin and Cipla rose whereas those of Hero MotoCorp and
Hindustan Unilever fell. The US Fed kept interest rates unchanged on the
expected line but its commentary on the US economy has virtually confirmed a
December rate hike, which is what might turn the domestic market cautious,
observed market analysts. The US dollar rose against most major currencies
after the Federal Reserve left its benchmark interest rates unchanged. In late
New York trading on Wednesday, the euro decreased to $1.1622 from $1.1653, and
the British pound decreased to $1.3254 from $1.3281. The Australian dollar
increased to $0.7669 from $0.7660.
Key
Indian equity indices traded in the green on Friday as positive global cues,
coupled with buying in capital goods, consumer durables and banking stocks,
kept investor sentiments buoyed. The major indices of the Indian stock markets
were range-bound on Friday and closed with small gains over Thursday’s
close.
According
to news agency reports on Friday, the shares of Reliance Nippon Asset
Management Company (AMC) would be listed on the National Stock Exchange (NSE)
on Monday, November 6. The IPO had opened for subscription from October 25 to
October 27, 2017 in a price band of Rs247-Rs252. The IPO was oversubscribed by
81.54 times at the close of the bidding, with bids for 3,493 million shares
worth Rs88,022.67 crore. The promoters Reliance Capital and Nippon Life
collectively sold 36.72 million shares.The
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