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30
October 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex might log in more
gains. The major indices of the Indian stock markets were up for most of the
day but ended lower. On the NSE, there were 1,033 advances, 678 declines and
346 unchanged. The trends of the major indices in the course of Tuesday’s
trading are given in the table below:
Barring
the metal, oil and gas and energy sectors, all the other counters were in the
green on BSE, led by IT (information technology), capital goods and TECK
(technology, entertainment and media). According to analysts, the markets on
Tuesday showed signs of settling down after it was over-sold for the past few
weeks. "Broadly the trend is still negative. Today the Asian markets are
positive but the US stocks are down," pointed out market analysts.
Finance
Minister Arun Jaitley on Tuesday held the central bank responsible for the
mountain of bad loans, saying the Reserve Bank of India (RBI) looked the other
way when banks lent indiscriminately during 2008-14 to keep the economy
humming. Jaitley's comments reflect a growing tension between the RBI and the government,
days after the central bank Deputy Governor Viral Acharya made a bold pitch for
autonomy and independence in the banking regulator's functioning. The Finance
Minister said that after the global financial crisis in 2008 and until 2014,
banks were told to open their doors and lend indiscriminately to keep the
economy going "artificially". "The central bank looked the
other way (when) there was indiscriminate lending... Total bank credit in India
from Rs18 lakh crore in 2008 went up to Rs55 lakh crore by 2014. And this was
something that banks couldn't sustain, the borrowers couldn't sustain and you
had the NPA (non-performing assets) problem," Jaitley said at an event.
"I am surprised that at that time, the government looked the other
way, the banks looked the other way. I don't know what the central bank was
doing. It was a regulator of these. They kept pushing the truth below the
carpet," he said. "And we were told that the total NPA
(non-performing assets) was Rs2.5 lakh crore. But when we did the asset quality
review in 2015, with the central bank doing it, we found that the NPA was
already Rs8.5 lakh crore," he added.
ABB
India reported Q2 FY19 results including total revenue at Rs2,515.36 crore
(Rs1,923.40 crore), up 30.8% year-on-year. Profit after tax was at Rs108.34
crore (Rs83.39 crore), up 29.9% year-on-year. Earnings per share were at Rs5.11
(Rs3.94). The company’s shares closed at Rs1,215.00, down 1.28% on the NSE.
Jubilant
Foodworks has announced PepsiCo as its new beverage partner for Domino's Pizza
India. The PepsiCo portfolio of carbonated beverages of Pepsi, Mountain Dew,
7Up, and Mirinda along with Lipton Ice Tea will be sold across all Domino’s
restaurants in India. The company’s shares closed at Rs1,061.90, down 2.89% on
the NSE.
Dena
Bank reported Q2 FY19 results including net interest income (NII) at Rs725.63
crore (Rs600.67 crore), up 20.80% year-on-year. Loss of Rs416.70 crore
(Rs185.02 crore) was reported. Non-performing assets (NPAs) provisions were at
Rs724.05 crore (Rs652.34 crore). Gross non-performing assets (GNPA) were at
23.64% (17.23%) and Net non-performing assets (NNPA) were at 11.78%
(10.61%).The company’s shares closed at Rs15.90, up 1.60% on the NSE.
Glenmark
Pharma has been granted final approval by the U.S. FD for Fluocinolone
Acetonide Topical Oil, a generic version of Hill Dermaceuticals's
Derma-Smoothe/ FS®1 Topical Oil. Glenmark Pharma shares closed at Rs607.50, up
0.50% on the NSE.
HDFC
AMC reported Q2 FY19 results with revenue at Rs480.36 crore (Rs430.01 crore),
up 11.7% year-on-year. Net profit was at Rs205.91 crore (Rs179.81 crore), up
14.5% year-on-year. Earnings per share closed at Rs9.71 (Rs8.91). HDFC AMC
shares closed at Rs1,367.80, down 0.51% on the NSE.
LIC
Housing Finance reported Q2 FY19 standalone results including interest income
at Rs4,150.62 crore (Rs3,743.81 crore), up 10.9% year-on-year. Net profit was
at Rs573.16 crore (Rs513.88 crore), up 11.5% year-on-year. Earnings per share
were at Rs11.36 (Rs10.18). LIC Housing Finance shares closed at Rs407.70, down
2.25% on the NSE.
Supreme
Industries reported Q2 FY19 consolidated results of revenue at Rs1,316.17 crore
(Rs1,055.06 crore), up 24.7% year-on-year. Net profit was at Rs107.05 crore
(Rs70.29 crore), up 52.3% year-on-year. Earnings per share were at Rs8.45
(Rs5.57). Interim Dividend of Rs4.00 per share was declared. The company’s
shares closed at Rs990.00, up 0.36% on the NSE.
Colgate-Palmolive
reported Q2 FY19 results of net sales at Rs1,160.63 crore (Rs1,077.98 crore),
up 7.7% year-on-year. Profit after tax was at Rs196.37 crore (Rs177.57 crore),
up 10.6% year-on-year. Earnings per share closed at Rs7.22 (Rs6.53). The
company’s shares closed at Rs1,096.85, down 0.47% on the NSE.
Solar
Industries reported Q2 FY19 consolidated results of revenue at Rs520.86 crore
(Rs408.40 crore), up 27.5% year-on-year. Net profit was at Rs51.94 crore
(Rs45.74 crore), up 13.6% year-on-year. Earnings per share were at Rs5.74
(Rs5.05). The company’s shares closed at Rs989.00, up 2.83% on the NSE.
The
top gainers and top losers of the major indices are given in the table below:
 |
| Major Indices (The Total Investment & Insurance Solutions) |
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