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26
October 2018
I had
mentioned in last week’s closing report that Nifty, Sensex might try to rally.
The major indices of the Indian stock markets suffered a correction during the
week and closed on Friday with losses 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
indices suffered a correction on Monday itself and closed with losses over
Friday’s close. On the NSE, there were 508 advances, 1,261 declines and 297
unchanged.
The
key Indian equity indices managed to trade in the green initially. However, as
the trading session progressed, the market correction set in and the major
indices closed with losses.
Lending major HDFC Bank reported a 20.6%
increase in its net profit to Rs5,005.73 crore during the quarter ended
September 30, 2018. The Bank's total income for the quarter under review was at
Rs28,215.2 crore, up by 21.2%. Net interest income (interest earned less
interest expended) for the period grew by 20.6% to Rs11,763.4 crore, from
Rs9,752.1 crore for the year-ago quarter, driven by asset growth and a net
interest margin for the quarter of 4.3%.
The Total Investment & Insurance Solutions
The indices of the Indian stock markets
suffered further correction on Tuesday and closed with losses over Monday’s
close. On the NSE, there were 510 advances, 1,241 declines and 309 unchanged. The Total Investment & Insurance
Solutions
Negative
global cues along with a worrying macro-economic situation and mixed start to
the corporate earnings season subdued key domestic indices on Tuesday. The
quarterly results were mixed adding to the negative sentiments among the
investors. Selling pressure was witnessed in IT (information technology),
healthcare, oil and gas counters.
Bajaj
Finance reported Q2 FY19 consolidated results with total revenue of Rs4,255.92
crore (Rs3,050.65 crore in the same period a year ago), up 39.5% year-on-year.
Profit after tax was at Rs923.47 crore (Rs597.87 crore in the same period a
year ago), up 54.5% year-on-year. Earnings per share were at Rs16.03 (Rs10.80
in the same period a year ago).
TVS Motor reported Q2 FY19 standalone results
of revenues of Rs4,993.47 crore (Rs4,064.72 crore in the same period a year
ago), up 22.8% year-on-year. Profit after tax was at Rs211.31 crore (Rs213.16
crore in the same period a year ago), down 0.9% year-on-year. Earnings per
share were Rs4.45 (Rs4.49 in the same period a year ago). Interim dividend of
Rs2.10 per share was declared. The
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Asian
Paints reported Q2 FY19 consolidated results with revenues at Rs4,639.05 crore
(Rs4,274.18 crore), up 8.5% year-on-year. Net profit was at Rs492.76 crore
(Rs575.89 crore), down 14.4% year-on-year. Interim dividend of Rs2.85 per
equity share was declared.
The major indices of the Indian stock markets
rallied on Wednesday and closed with gains over Tuesday’s close. On the NSE,
there were 956 advances, 794 declines and 308 unchanged. The Total Investment & Insurance Solutions
A
recovery in the global markets coupled with a decline in the crude oil prices
aided the domestic markets to trade in the positive on Wednesday. A recovery in
the global markets has worked well for the domestic indices, which have shown
some recovery. The ease in crude oil prices has also brought in some positivity
in the markets. The domestic currency was trading at Rs73.29 to a US dollar
from its previous close of 73.57. Also, the crude oil prices eased to $76.37 a
barrel.
Sundaram
Clayton reported Q2 FY19 standalone results with revenues of Rs488.06 crore
(Rs411.75 crore in the same period a year ago), up 18.5% year-on-year. Profit
after tax was at Rs12.09 crore (loss of Rs40.15 crore in the same period a year
ago). Earnings per share were at Rs5.97 (-Rs20.02 in the same period a year
ago).
Karur
Vysya Bank reported Q2 FY19 results with net interest income (NII) at Rs579.14
crore (Rs555.01 crore in the same period a year ago), up 4.3% year-on-year. Net
profit was at Rs83.74 crore (Rs75.65 crore in the same period a year ago), up
10.7% year-on-year. Provisions were at Rs213.14 crore (Rs321.36 crore in the
same period a year ago). Gross non-performing assets (GNPA) were at 7.70%
(4.83% in the same period a year ago). Net non-performing assets (NNPA) were at
4.41% (3.24% in the same period a year ago).
The
major indices of the Indian stock markets suffered a correction on Thursday and
closed with losses over Wednesday’s close. On the NSE, there were 603 advances,
1,118 declines and 340 unchanged. Except for IT (information technology), oil
and gas counters, all the sectors witnessed selling pressure led by banking,
finance and healthcare stocks. The domestic currency was trading at Rs73.30 to
a US dollar from its previous close of 73.15. Also, the crude oil prices continued
to ease at around $75.76 a barrel.
Maruti
Suzuki reported Q2 FY19 consolidated results with total revenue at Rs22,433.2
crore (Rs21,768.2 crore in the same period a year ago), up 2.96%
year-on-year. Profit after tax was at Rs2,240.4 crore (Rs2,484.3 crore in the
same period a year ago), down 9.8% year-on-year. Earnings per share were at
Rs74.17, down from Rs82.24 in the same period a year ago.
Oriental
Bank reported Q2 FY19 results with Net Interest Income (NII) at Rs1,274.83
crore (Rs1,251.73 crore in the same period a year ago), up 1.8% year-on-year.
Net profit was at Rs101.74 crore (loss of Rs17,49.90 crore in the same period a
year ago). Provisions were at Rs832.03 crore (Rs3,146.92 crore in the same
period a year ago). Gross non-performing assets (GNPA) were at 17.24% (16.30%
in the same period a year ago). Net non-performing assets (NNPA) were at 10.07%
(9.44% in the same period a year ago).
Negative
global cues, along with a depreciating domestic currency, pulled the Sensex
down on Friday. Nifty was down 95 points and Sensex fell 341 points. On the
NSE, there were 747 advances, 964 declines and 346 unchanged.
Cigarette-to-FMCG (fast moving consumer
goods) major ITC Ltd on Friday reported a 11.9% increase in its net profit at
Rs2,954.67 crore in the quarter which ended on September 30 of the current
fiscal as compared to Rs2,639.84 crore. Its revenue operations were at
Rs11,272.51 crore, up by about 15.5%. Its revenue from the cigarette business,
during the September quarter, stood at Rs5,026.06 crore, up by 10.36%. ITC
shares closed at Rs279.90, down 2.66% on the NSE. The Total Investment & Insurance Solutions
Biotech
major Biocon Ltd has reported Rs355 crore consolidated net profit for the
second quarter (Q2) of fiscal 2018-19, registering a record 416% growth from
Rs69 crore in the like period year ago and 196% sequential growth from Rs120
crore quarter ago. Consolidated revenue from operations for Q2 grew 36%
year-on-year (YoY) to Rs1,321 crore from Rs969 crore and 18% sequentially from
Rs1,124 crore quarter ago. Earnings before interest, tax, depreciation and
amortisation (Ebitda) also shot up 69% year-on-year to Rs394 crore and 28%
sequentially. Biocon shares closed at Rs602.50, down 2.56% on the NSE.The Total Investment & Insurance Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
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