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13
November 2017
I had
mentioned in Friday’s closing report that Nifty, Sensex were still trendless.
The major indices of the Indian stock markets suffered a correction on Monday
and closed with losses over Friday’s close. The trends of the major indices in
the course of Monday’s trading are given in the table below: The Total Investment & Insurance
Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Broadly
negative Asian markets, coupled with profit booking in capital goods, oil and
gas and consumer durables stocks, pulled the key Indian equity indices lower to
trade in the red during the mid-afternoon session on Monday. According to
market observers, domestic macro-industrial output data point released on
Friday and selling in index heavyweights like Coal India, ONGC, HDFC, Larsen
and Toubro (L&T) and Tata Steel, among others, eroded investors' risk
taking appetite. On the NSE, there were 623 advances, 1,060 declines and 303
unchanged. The Total Investment & Insurance
Solutions
Overseas,
Asian shares stepped back in a cautious trade as investors look to see whether
US Republicans can hammer a tax reform deal quickly. The British pound fell on
growing doubts over Prime Minister Theresa May's leadership, observed market
analysts. The Total Investment & Insurance
Solutions
Coal
India Ltd (CIL) on Saturday reported close to a 40% fall in its consolidated
net profit to Rs368.88 crore in the quarter ended September 30, 2017 as
compared to Rs612.44 crore in the corresponding quarter last fiscal. Its net
revenue from operations for the quarter stood at Rs18,148.31 crore, up 4.19%
from Rs17,418.43 crore in the year-ago period. The miner produced 113.04
million tonnes (mt) of coal in the July-September quarter of the current
fiscal, as against 104.37 mt in the year-ago period. CIL's off-take stood at
131.58 mt in the quarter ended September 30, 2017, as compared to 115.87 mt in
the same period last financial year, it said in a BSE filing. Coal India shares
closed at Rs274.35, down 3.52% on the NSE. The
Total Investment & Insurance Solutions
Birla
Corporation Ltd, an M.P. Birla Group company, on Saturday reported that its
consolidated net profit fell to Rs1.46 crore in the quarter ended September 30,
as compared to Rs65.43 crore in the corresponding period last fiscal. Revenue
from operation during the quarter stood at Rs1,235.49 crore compared to Rs1,079.83
crore in the year ago period as cement prices remained depressed in key markets
despite an increase in sales volume. Referring to the performance of the cement
division of the company, Chairman Harsh V. Lodha said that despite a
challenging environment, the company was able to ramp up volumes during the
seasonally weak quarter and realise enhanced levels of synergy benefits arising
out of the acquisition of Reliance Cement Company Private Ltd (RCCPL). Birla
Corporation shares closed at Rs1,083.00, down 10.85% on the NSE.
Reliance
Infrastructure (RInfra) on Saturday reported a consolidated net profit of Rs544
crore ($83 million) for the second quarter of 2017-18. The company had posted a
net profit of Rs571 crore in Q2 of 2016-17. According to RInfra, its
consolidated total income during the quarter under review increased to Rs7,621
crore ($1.2 billion), against Rs7,293 crore in the corresponding quarter of the
previous financial year. The firm's earnings before interest, taxes,
depreciation and amortisation (EBITDA) during Q2 increased by 6% to Rs2,256
crore from Rs2,138 crore reported for the corresponding quarter of 2016-17.
Among the key highlights of the quarter, the company added 77,200 new
households to its power users consumer base in Mumbai and Delhi. On
transmission business, RInfra said that it completed a 100% sale of "WRSSS
transmission project" to Adani Transmission for Rs1,000 crore and that the
entire proceeds were utilised for debt reduction. The company's EPC
(engineering, procurement and construction) business had an order book of
Rs5,635 crore and revenue of Rs341 crore in Q2 FY18. RInfra shares closed at
Rs458.30, down 1.48% 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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