Contact Your Financial Adviser Money Making MC
15
November 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex were lacking
direction. The major indices of the Indian stock markets suffered a small
correction 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)
Negative
Asian indices, along with disappointing domestic macro-data and selling
pressure in metal, consumer durables and FMCG (fast moving consumer goods)
stocks, pulled the key Indian equity indices lower during the mid-afternoon
trade session on Wednesday. Iindex heavyweights like ONGC, Sun Pharma, ITC and
Tata Steel were amongst the prominent losers on the BSE. On the NSE, there were
393 advances, 1,311 declines and 277 unchanged.
State-run
gas transmission utility GAIL India (GAIL) posted a 41.6% rise in net profit
for the second quarter ending September at Rs1,309.63 crore, boosted by
handsome earnings from its gas transportation and marketing business. GAIL's
net profit for the same quarter last year was Rs924.65 crore, the company said
in a statement here. It earned a pre-tax profit of Rs853.48 crore from gas
transmission business during the second quarter, as compared with Rs660.74
crore in the same quarter last year. The gas utility marketed 5% more gas by
volume during the quarter in consideration, the statement said. Earnings from
natural gas marketing in the quarter under review rose 27% to Rs419.74 crore.
Instead, revenue from the petrochemical business fell nearly 50% to Rs88.81
crore. GAIL said all the business segments registered positive physical growth
both sequentially and as compared with the corresponding quarter last year.
"The increase in net profit in Q2 FY 2017-18 on year-on- year basis, was
supported by increase in natural gas transmission and marketing volumes by 5
per cent each, LPG transmission by 11%, petrochemicals sales by 29% and liquid
hydrocarbon sales by 17%," it said. Revenue dropped marginally by around
1% to Rs12,409.65 crore. The company’s shares closed at Rs449.20, down 1.55% on
the NSE.
Reliance
Capital said it closed the second quarter of the current fiscal with 39% growth
in its consolidated net profit. In a statement here, the company said it has
posted a net profit of Rs352 crore logging a growth of 39% for the quarter
ended September 30, 2017 over the corresponding quarter of the previous year.
During the quarter under review, the company's total income was Rs5,254 crore
-- up from Rs4,926 crore in the corresponding period of previous year. As on
September 30, 2017, the net worth of the company stood at Rs16,027 crore and
the total assets showed 22% increase at Rs88,548 crore. The company also said
that the listing of its non-life insurance subsidiary Reliance General
Insurance is on track and it is expected to be listed by March 2018, subject to
the receipt of regulatory approvals. For the quarter ended September 30, 2017,
Reliance General Insurance's Gross Written Premium was Rs1,688 crore logging a
growth of 16 per cent over corresponding period of the previous year. For the
quarter, the Reliance General posted profit was Rs47 crore, a year-on-year
(YoY) increase of 40%. As on September 30, 2017, the investment book stood at
Rs7,280 crore, a YoY increase of 16%, while the net worth was Rs1,339 crore, a
YoY increase of 13%. Reliance Capital shares closed at Rs422.00, down 10.37% on
the NSE.
Bharti
Airtel has divested 83 million shares of its subsidiary Bharti Infratel Limited
for Rs3,325 crore ($ 510 million) through secondary share sales in the stock
market, a company statement said. Bharti Airtel has made the sale through
its wholly-owned subsidiary Nettle Infrastructure Investments Limited.
"Bharti Airtel will primarily use the proceeds from this sale to
reduce its debt. Following the closure of this transaction, Bharti Airtel and
its wholly owned subsidiaries together have an equity holding of 53.51% in
Bharti Infratel," the statement said. Bharti Airtel shares closed at
Rs486.75, down 1.85% on the NSE. Bharti Infratel shares closed at Rs377.65,
down 4.17% on the NSE.
Two-wheeler
maker Eicher Motors Ltd said it closed the second quarter of the current fiscal
growing its consolidated net profit to Rs518 crore -- up from Rs413 crore
posted for the quarter ended September 30, 2016. The company's total revenue
for the quarter ended September 30, 2017 stood at Rs2,167 crore -- up from
Rs1,755 crore logged for the quarter ended September 30, 2016. During the
second quarter of the fiscal, the company commenced commercial production at
its third manufacturing facility at Vallam Vadagal, near Chennai, in August
2017. The company’s shares closed at Rs30,483.35, up 1.46% on the NSE.
The top gainers and top losers of the major
indices are given in the table below: The
Total Investment & Insurance Solutions
 |
| Top Gainer (The Total Investment & Insurance Solutions) |
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
No comments:
Post a Comment