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27
April 2018
I had mentioned in last week’s closing report that Nifty, Sensex might
head higher. The major indices of the Indian stock markets rallied during the
week and closed with weekly gains on Friday 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
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
The
major indices of the Indian stock markets were range-bound on Monday and closed
with small gains over Friday’s close. On the NSE, there were 793 advances, 728
declines and 58 unchanged.
Both
the BSE and NSE opened on a flat note tracking negative Asian cues on Monday.
The key Indian equity indices traded higher on the back of buying in IT
(information technology), consumer durables and healthcare stocks as the day
progressed. But the gains were not sustained, as there was no momentum among
the bulls. At the end of the day’s trading the major indices closed with minor
gains over Friday’s close. The Total
Investment & Insurance Solutions
In
a major market development, IT bellwether Tata Consultancy Services (TCS) on
Monday emerged as the first Indian listed company to cross the $100-billion
mark in terms of market capitalisation (m-cap).
Mahindra
Electric and cab service Meru on Sunday announced a joint electric vehicle (EV)
pilot project in Hyderabad, to be replicated in other cities soon. Their joint
statement here on Earth Day said that under the pilot project, Meru will deploy
Mahindra's eVeritos’ all-electric sedans.
The
major indices of the Indian stock markets saw an uptrend on Tuesday and closed
with small gains over Monday’s close. On the NSE, there were 125 advances, 100
declines and 1,822 unchanged.
Buying
in oil and gas, banking and auto stocks, coupled with broadly positive global
cues, lifted the key Indian equity indices on Tuesday. Index heavyweights like
Reliance Industries (RIL), Yes Bank, Adani Ports, Mahindra and Mahindra, and
Larsen and Toubro were the top gainers on the BSE. Selling pressure in metals,
IT (information technology) and consumer durables stocks trimmed some gains of
the benchmark indices, market observers said.
The
State Bank of Pakistan on Monday voiced its concerns over the surmounting value
of US dollar against Pakistani rupee in the open market. Currency markets in
the Indian sub-continent could see some turbulence in this context.
LIC
Housing Finance Company Ltd said it closed last fiscal with a net profit of
Rs1,989.58 crore. In a regulatory filing in BSE, the company said it had posted
a net profit of Rs1,989.58 crore last fiscal up from Rs1,931.05 crore posted
during the year ended March 31, 2017, while its total income for last fiscal
stood at Rs15,072.90 crore up from Rs14,080.34 crore for the year ended March
31, 2017. The Board of Directors of the company have recommended a dividend of
Rs6.80 per equity share of Rs2 each for fiscal 2017-18. The dividend on equity
shares will be paid on or after August 20, 2018, the company said.
The
major indices of the Indian stock markets suffered a minor correction on
Wednesday and closed with small losses over Tuesday’s close. On the NSE, there
were 546 advances, 1,194 declines and 309 unchanged.
The
key Indian equity indices traded on a flat-to-negative note on Wednesday
afternoon tracking weakness in the global markets coupled with selling pressure
on oil and gas, banking and capital goods stocks.
Two-wheeler
manufacturer Hero MotoCorp made an upward revision in the ex-showroom prices of
its motorcycles and scooters with immediate effect. "The upward revision
in the prices has been done to partially offset the consistently rising input
costs, including the prices of commodities," the company said in a
statement. "The increase in the prices of the two-wheelers is up to
Rs625. The exact quantum of the increase will vary, basis the model and the
specific market." The Total
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IDFC
Bank reported a decline of 76% in its standalone net profit for the fourth
quarter of 2017-18. According to a BSE filing, the bank's net profit during the
quarter under review declined to Rs41.93 crore from Rs175.95 crore reported for
the corresponding period of the previous fiscal. On a financial year basis, it
reported that its standalone net profit decreased to Rs859.30 crore for the
year ended March 31, 2018 from Rs1,019.73 crore for the previous year.
The
major indices of the Indian stock markets rallied on Thursday and closed with
gains over Wednesday’s close. On the NSE, there were 783 advances, 927 declines
and 337 unchanged. The Total Investment & Insurance
Solutions
Key
Indian equity indices on Thursday traded with moderate gains with buying
observed in IT (information technology), FMCG (fast moving consumer goods) and
consumer durables stocks. Index heavyweights like Tata Consultancy Services,
IndusInd Bank, Tata Motors, Reliance Industries and ITC were the top gainers on
the BSE. According to market observers, mixed trend in the global markets,
along with caution on the day of derivatives expiry and selling pressure in oil
and gas, capital goods and telecom stocks, trimmed the gains of the indices. The Total Investment & Insurance Solutions
Global
software major Wipro Ltd reported Rs1,801 crore consolidated net profit for
fourth quarter of fiscal 2017-18, registering 21% annual decline from Rs2,267
crore in the same period last year. In a regulatory filing on the BSE, the
city-based IT firm said consolidated revenue for the quarter under review (Q4)
also declined, albeit marginally by 1.6%, to Rs13,769 crore from Rs13,988 crore
in the same period the year ago. Under the International Financial Reporting
Standards (IFRS), net income is $277 million and gross revenue $2,115 million
for the quarter. IT (information technology) services contributed $2,062
million, posting 2.4 per cent sequential and 5.5 per cent annual growth in
dollar terms and Rs13,410 crore in rupee terms, up 1.3% sequentially from
quarter ago.
On
Friday, the major indices of the Indian stock markets rallied and closed with
significant gains over Thursday’s close. On the NSE, there were 919 advances,
800 declines and 328 unchanged. The key Indian equity indices on Friday traded
in positive territory due to firm global cues and robust buying in banking and
capital goods stocks. The Total Investment
& Insurance Solutions
Reliance
Capital reported a rise of 21% in its consolidated net profit for 2017-18 which
rose to Rs1,309 crore ($201 million). According to the company, its total
income during the fiscal under review grew by 13% to Rs19,898 crore ($3.1
billion) from Rs17,640 crore in the corresponding previous year. The company
further reported that its net worth as on March 31, 2018 stood Rs16,605 crore
($2.6 billion). "As on March 31, 2018, the total assets of the company
stood at Rs93,851 crore ($14.4 billion) - an increase of 14%," Reliance
Capital said in a statement. The Total
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Lending
major Axis Bank reported its first net loss since 1998 due to a rise in NPA
(non-performing assets) provisioning. According to the lender, its net loss
stood at Rs2,189 crore during the fourth quarter (Q4) of 2017-18 from a net
profit of Rs1,225 crore reported for the corresponding period of last fiscal.
"One area where we have been disappointed with our performance has been
credit risk. We made some significant bets on the infrastructure sector, which
have turned out poorly in this credit cycle," Axis Bank's Managing
Director and CEO Shikha Sharma said. "Consequently, our NPA ratios have
risen materially over the last two years. We have been course correcting since
as early as 2013, balancing our portfolio mix, strengthening risk management
frameworks, focusing on higher rated corporates, and re-orienting the corporate
lending business towards working capital loans." As on March 31, 2018, the
bank's gross NPA and net NPA levels rose to 6.77% and 3.40% from 5.28% and
2.56% as on December 31, 2017 respectively. On a financial year basis, the bank
reported that its net profit for the year ended on March 31, 2018 declined by
93% to Rs276 crore from Rs3,679 crore for the previous year. The Total Investment & Insurance Solutions
Lending
major Yes Bank reported a 29% increase in net profit for the fourth quarter
(Q4) of 2017-18. According to the lender, its net profit during the quarter
under review rose to Rs1,179.4 crore from Rs914.1 crore reported for the
corresponding period of last fiscal. The bank said that its net interest income
(NII) for the said quarter grew by 31.4% to Rs2,154.2 crore from Rs1,639.7
crore earned during the corresponding quarter of the previous year. On a
financial year basis, the bank reported a growth of 26.9% in its net profit for
the year ended on March 31, 2018, to Rs4,224.6 crore from Rs3,330.1 crore for
the previous year. The 2017-18 NII rose by 33.5% to Rs7,737.1 crore from
Rs5,797.3 crore for the previous year. "FY18 has been a landmark year in
Yes Bank's ‘Large Bank Growth Phase' with the bank crossing significant
milestones in size, outreach and granularity while continuing to deliver on
satisfactory earnings," Yes Bank's Managing Director & CEO Rana Kapoor
was quoted as saying in a statement.
IT
(Information Technology) bellwether Tata Consultancy Services (TCS) said it has
added a third office in Texas as part of its agreement with US insurance
company Transamerica, which will add more than 200 new employees. The IT sector
is looking up for Indian exporters and American multinationals and the stock
markets are bullish in this regard. The
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