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9
November 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex continued to look
weak. The major indices of the Indian stock markets were range-bound on
Thursday and ended flat compared to 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)
Selling pressure in healthcare, auto
and capital goods counters suppressed the key Indian equity indices during the
mid-afternoon trade session on Thursday. Trading was listless through most of
the trading day and major indices ended flat over Wednesday’s close. On the
NSE, there were 862 advances, 635 declines and 109 unchanged. The Total Investment
& Insurance Solutions
Auto components major Bharat Forge
reported a 60.5% jump in its standalone net profit to Rs203.72 crore for the
quarter ended September 30, as compared to Rs126.89 crore in the year-ago
period. Its total revenue during the quarter under review stood at Rs1,258
crore, up by 41.2% from Rs890.9 crore in the year-ago period. "The
company's performance in Q2 FY18 has been strong with all round growth across
domestic and export business. Total revenue grew by 41.2% driven by 26% growth
in domestic revenues and 56% growth in export revenues," said its Chairman
& Managing Director B.N. Kalyani. The company’s shares closed at Rs718.15,
down 1.96% on the NSE.
Jet Airways commenced a sales scheme
by offering up to 30% discounts on travel from India to high-demand
destinations served by the airlines international network. According to the
airline, the period for booking under the offer commenced from November 8 and
will last till November 14, 2017. "Travel under this offer commences with
the coming New Year - effective January 22, 2018, and is applicable on both
Premiere and Economy cabin classes," the airline said in a statement. He
said despite continued inflationary pressures, EBITDA margins at 30.3% expanded
by 190 bps as compared to the same quarter previous year driven by better
product mix, enhanced productivity and favourable exchange realisation. The
airline’s shares closed at Rs665.00, up 7.87% on the NSE.
Commercial vehicle manufacturer
Ashok Leyland reported an increase of 14% in its net profit for the second
quarter (Q2) of 2017-18. According to the company, its net profit during the
quarter under review increased to Rs334.26 crore from Rs294.41 crore during the
like period of the last fiscal. The flagship company of the Hinduja Group also
reported a rise of 31% in its Q2 revenues (excluding excise duty) to Rs6,046.89
crore from Rs4,622.41 crore earned during the same period of 2016-17. The
company's export volumes grew by 39% to 4,437 units. The company’s shares
closed at Rs115.35, down 2.98% on the NSE.
Tata group company Voltas said its
consolidated net profit rose by 22% to Rs95.36 crore during the second quarter
of 2017-18. The net profit of the company for the same quarter during the
2016-17 was reported at Rs78.16 crore. "The consolidated sales/income from
operations for the quarter ended September 30, 2017 was higher by 6% at Rs1,032
crore as compared to Rs972 crore in the corresponding quarter last year,"
Voltas said in a statement. In the electro-mechanical projects and services
segment, revenue for the quarter was higher at Rs557 crore as compared to Rs543
crore in the corresponding quarter last year. "Order book of the segment
stood higher at Rs5,000 crore as at September 30, 2017 as compared to Rs4,252
crore in the corresponding quarter last year. The strategy to focus on
government sector projects has the helped the domestic project business in
garnering more orders," the statement said. "New orders booked during
the current quarter was Rs670 crore," it added. In the segment of
engineering products and services, revenue and result for the quarter were
lower at Rs67 crore and Rs28 crore respectively during the same quarter of
2016-17, due to GST related disruptions in textile industry. Revenue in unitary
cooling products for comfort and commercial use was higher at Rs408 crore as
compared to Rs354 crore in the corresponding quarter last year. The company’s
shares closed at Rs563.75, up 1.14% 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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