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2
May 2018
I had mentioned in
Monday’s closing report that Nifty, Sensex were headed for more gains. On
Tuesday, the Indian stock markets were closed for trading. The major indices of
the Indian stock markets were range-bound on Wednesday and ended with minor
losses over Monday’s close. On the NSE, there were 402 advances, 1,126 declines
and 47 unchanged. The trends of the major indices in the course of Wednesday’s
trading are given in the table below: The
Total Investment & Insurance Solutions
Healthy quarterly earnings
and robust automobile sales pushed the key Indian equity indices to trade
higher during Wednesday's mid-afternoon session. According to market observers,
buying was witnessed in the banking, automobile and FMCG (fast moving consumer
goods stocks). But the gains were not sustained till the end of trading at 3:30
pm and the markets ended on a flat-to-negative note. The Total Investment & Insurance
Solutions
Asian equities eased on
Wednesday, while the dollar traded near a four-month high as investors await
the Federal Reserve's upcoming policy statement for clues on the future pace of
U.S. monetary tightening, according to Reuters.
Software major HCL
Technologies on Wednesday reported Rs2,227 crore consolidated net profit for
the fourth quarter of fiscal 2017-18, posting 4.3% annual decline from Rs2,325
crore in the same period year ago (2016-17) but up 1.5% sequentially from
Rs2,194 crore quarter ago. Net profit, however, grew 3.8% year-on-year (YoY) to
Rs8,780 crore for the fiscal under review (FY 2018) from Rs8,457 crore in FY
2017. In a regulatory filing to the BSE, the Noida-based IT firm said
consolidated revenue grew 9.3% YoY to Rs13,179 crore for the quarter under
review (Q4) from Rs12,053 crore in the like period year ago and 2.9%
sequentially from Rs12,808 crore quarter ago. Revenue for FY 2018 grew 8.2% YoY
to Rs50,570 crore from Rs46,723 crore in FY 2017. Under the International
Financial Reporting Standard (IFRS), net profit for the quarter slipped 1.7%
YoY to $344 million from $350 million year ago but grew 1.1% sequentially from
$340 million quarter ago. Net profit, however, grew 7.7% YoY to $1,360 million
for the fiscal from $1,262 million year ago while revenue grew 12.4% YoY to
$7,838 million from $6,975 million year ago. Revenue for the fiscal (FY 2018)
grew 12.2% YoY to $ 7,838 million from $6,975 million in FY 2017. The company’s
shares closed at Rs1,000.50, down 4.50% on the NSE.
Budget passenger carrier
SpiceJet launched daily direct flight services between Delhi and Punjab's
Adampur. According to the company, SpiceJet was awarded Adampur under the first
round of the regional connectivity scheme UDAN and the city is the fifth
destination for the airline under this scheme. In addition to Adampur, SpiceJet
also launched daily services between Leh and Delhi from Tuesday. On Wednesday,
the company’s shares closed at Rs131.90, up 1.70% on the BSE. The Total Investment & Insurance
Solutions
Lower extraction of crude
oil and production of refinery products slowed the pace of India's eight major
industries' output in March, official data showed on Tuesday. The Index of
Eight Core Industries (ECI), which represent the output of major sectors like
coal, steel, cement and electricity rose by 4.1% in March 2018 compared to an
increase of 5.4% in February. Even on a year-on-year basis, the 'Index of Eight
Core Industries' (ECI), which represent the output of major sectors like coal,
steel, cement and electricity showed a downtrend. The index had registered a
rise of 5.2% during the corresponding month of 2017. "The combined Index
of Eight Core Industries stands at 138 in March, 2018, which was 4.1% higher as
compared to the index of March, 2017," the Commerce & Industry
Ministry said in a statement. "Its cumulative growth during April to
March, 2017-18 was 4.2%." The ECI index carries 40.27% weightage of the
Index of Industrial Production (IIP) which is the macro-gauge for India's
factory output.
State-run Punjab National
Bank (PNB) said that it will recover from the impact of the recent fraud in six
months' time and is actively working to improve its internal systems by
incorporating analytics and artificial intelligence (AI), as Niti Aayog CEO
Amitabh Kant ruled out privatisation of banks. PNB shares closed at Rs92.80,
down 2.67% on the NSE.
Dabur India reported a rise
of 18.9% in consolidated net profit for the January-March 2018 quarter.
According to the company, the consolidated net profit stood at Rs396.20 crore
and consolidated revenue was Rs2,032.91 crore. For the financial year 2017-18,
the fast moving consumer goods major reported a consolidated net profit of
Rs1,354.39 crore, up 6.1%. "The board of directors recommended a dividend
of 625%, including a final dividend of 125% and a one-time special dividend of
500%. This brings the total dividend for the year to 750%," said Anand C.
Burman, Chairman, Dabur India. He added: "To mark the 25th year of
Dabur's listing on the stock exchanges, the board has proposed a special
dividend of Rs5 per share in addition to the final dividend of Rs1.25 per
share, aggregating to Rs1,327.25 crore, including dividend tax." The
company’s shares closed at Rs371.80, up 0.30% on the NSE.
The top gainers and top
losers of the major indices are given in the table below:
The closing values of the major Asian indices are given in the table below:The Total Investment & Insurance Solutions
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Major Indices
(The Total Investment & Insurance Solutions)
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