Contact Your Financial Adviser Money Making MC
8
February 2018
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might stage a rally
if Wednesday’s lows hold. The major indices of the Indian stock markets rallied
on Thursday and closed with gains over Wednesday’s close. On the NSE, there
were 1,302 advances, 227 declines and 59 unchanged. The trends of the major
indices in the course of Thursday’s trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
After
seven consecutive days of losses, key Indian equity indices on Thursday surged
to trade on a higher note, with the barometer Sensex of the BSE rising over 400
points. According to market observers, broadly positive Asian indices, coupled
with buying in banking, capital goods, healthcare and auto stocks, lifted the
equity indices during the mid-afternoon session.
Top
gainers on the BSE were index heavyweights like Sun Pharma, Dr Reddy's Lab,
Infosys, Axis Bank and HDFC. The Total
Investment & Insurance Solutions
Power
utility firm CESC Ltd on Thursday reported a 1.3% increase in its standalone
profit after tax (PAT) to Rs154 crore in the quarter ended December 31 as
compared to Rs152 crore in the year-ago period. RP Sanjiv Goenka Group's
flagship company also registered a sales growth of over 3% in the quarter. Its
revenue from operations for the December quarter was Rs1,706 crore, up by 5.3%,
as against Rs1,620 crore in the corresponding period of 2016-17. Asked about
the flat profit in the quarter, company Chairman Sanjiv Goenka said:
"There is no increase in tariff." The company's total expenses for
the quarter under review was at Rs1,622 crore as against Rs1,511 crore in the
same period of 2016-17. The company’s shares closed at Rs992.15, up 1.29% on
the BSE.
IT
(information technology) services and technology solutions firm Sonata Software
reported Rs49 crore consolidated net profit for the third quarter of 2017-18
from Rs40 crore in the same period year ago, registering 22% annual growth.
"Consolidated revenue for the quarter under review grew 33% annually to
Rs767 crore from Rs575 crore in the like period a year ago," said the city-based
software firm in a statement here. Sequentially, net profit, however, grew 9%
from Rs45 crore quarter ago and revenue a whopping 80 per cent from Rs427
crore. Earnings before interest, tax, depreciation and amortisation (Ebitda)
grew 10% annually to Rs72 crore from Rs65 crore year ago and 8% sequentially
from Rs66 crore quarter ago. The company’s shares closed at Rs290.75, up 1.92%
on the NSE. The Total Investment & Insurance
Solutions
In
a move to strengthen the customer grievance redressal mechanism for Non-banking
finance companies (NBFCs), Reserve Bank of India (RBI) announced it would be
setting up an ombudsman for NBFCs. Sundaram Finance shares closed at
Rs1,650.75, down 0.90% on the NSE.
Drug
major Cipla reported a consolidated net profit of Rs403 crore for the third
quarter of fiscal 2017-18, registering a 4.7% annual net profit growth from
Rs385 crore in the same period a year ago. In a regulatory filing on the BSE,
the city-based drug maker said consolidated net sales for the quarter under
review (Q3) increased 7.6% annually to Rs3,835 crore from Rs3,564 crore in the
like period a year ago. Sequentially, net profit declined 7.4% from Rs435 crore
a quarter ago and net sales dipped 3.8% from Rs3,988 crore a quarter ago. On a
standalone basis, the parent company's net income grew 23% annually to Rs419
crore in Q3 from Rs341 crore in the same period a year ago, but declined 26%
sequentially from Rs566 crore a quarter ago. Similarly, standalone income from
sales grew annually to 11.7% to Rs2,892 crore in Q3 but declined 28%
sequentially from Rs2,976 crore. The company’s shares closed at Rs612.65, up
8.21% on the NSE.
In
yet another measure to speed up retail transmission by banks of the central
bank's cuts in the lending rate, the Reserve Bank of India (RBI) on Wednesday
said that it will link the Base Rate with the Marginal Cost of Funds-based
Lending Rate (MCLR) from the next fiscal. This is likely to give a filip to
investments in banks’ scrips.Automobile major Mahindra & Mahindra unveiled
a wide range of electric vehicle concepts including, an electric bus
"e-Cosmo", a two-seater electric pod "UDO", a lithium-ion
battery powered electric three-wheeler "Treo" and eKUV100, India's
first electric mini SUV. Mahindra & Mahindra shares closed at Rs752.20, up
1.18% on the NSE. The Total Investment & Insurance
Solutions
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)
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) |
No comments:
Post a Comment