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20
July 2018
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Weekly Indices (The Total
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I had mentioned in last week’s closing report that Nifty, Sensex were
moving up strongly. The major indices of the Indian stock markets were
range-bound during the week and ended flat 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
major indices of the Indian stock markets suffered a correction on Monday and
closed with losses over Friday’s close. On the NSE, there were 313 advances,
1,450 declines and 307 unchanged.
Rise
in prices of manufactured products along with that of food articles and fuel
types accelerated India's wholesale inflation rate at 5.77% compared to 4.43%
in the previous month, official data showed on Monday. According to the
Ministry of Commerce and Industry, last month's WPI (wholesale price index)
rate was also higher on year-on-year (YoY) basis. It had risen by 0.90% in June
2017.
The
major indices of the Indian stock markets rallied on Tuesday and closed with
gains over Monday’s close. On the NSE, there were 1,038 advances, 712 declines
and 316 unchanged.
Slide
in global crude oil prices along with expectations of fund infusion into public
sector banks and value buying lifted the key domestic equity indices higher on
Tuesday. However, broadly negative Asian and European indices capped gains.
According to market observers, buying was witnessed in banking, oil and gas,
automobile and consumer durables stocks.
Commercial
vehicles major Ashok Leyland Ltd on Tuesday said it closed the first quarter of
the current fiscal with a net profit of Rs370.10 crore. In a regulatory filing
in BSE, the company said it posted a net profit of Rs370.10 crore for the
quarter ended on June 30, 2018, up from Rs111.23 crore posted during the
quarter ended on June 30, 2017. The company had earned a total income of
Rs6,300.11 crore for the period under review, up from Rs4,572.87 crore earned
during the quarter ended on June 30, 2017. However, the stock suffered a major
blow as the government increased the loading allowed for multi-axle trucks.
The
major indices of the Indian stock markets were volatile on Wednesday and closed
with losses over Tuesday’s close. On the NSE, there were 490 advances, 1,246
declines and 329 unchanged.
After
touching a fresh all-time high of 36,747.87 points, the benchmark BSE Sensex
retreated and traded on a negative note during on Wednesday. Minutes into
trade, the Sensex set a benchmark level but could not hold on to the gains.
Selling pressure on metal and auto stocks weighed on the index, analysts said.
Bandhan
Bank Ltd.’s net profit rose 47.5% year-on-year to Rs481 crore in the quarter
ended June, it said in an exchange filing. Net interest income, or the core
income of the bank, rose 40% to Rs1,037 crore. Asset quality remained stable
with the gross non-performing assets ratio at 1.26% compared to 1.25% in the
previous quarter. Net NPA ratio expanded to 0.64% from 0.58%. The bank's
capital adequacy ratio improved to 32.61% from 26.16% year-on-year.
Sun
Pharmaceuticals Industries Ltd. received first drug approval in five years for
its Halol, Gujarat plant from the U.S. drug regulator after India’s largest
drugmaker’s key facility was cleared last month. The Food and Drug
Administration has given the go-ahead for cancer injectable Infugem to be
manufactured at facility, the company said in an exchange filing. A 2015
warning letter meant that Sun Pharma couldn’t file for fresh drug approvals
though it continued to export existing products made the plant. The U.S.
regulator in June issued an Establishment Inspection Report, indicating that
all issues raised by it had been addressed. That paved the way for fresh
clearances after four years. The company’s all niche future filings, including
injectables, will come from the plant.
The
major indices of the Indian stock markets were range-bound on Thursday and
closed with minor losses over Wednesday’s close. On the NSE, there were 522
advances, 1,209 declines and 330 unchanged.
Indian
equity indices traded on a flat note after opening higher on Thursday.
According to market observers, a weak rupee along with domestic political
uncertainty in the wake of a no-confidence motion against the central
government and muted trend in Asian markets capped gains. Selling pressure was
witnessed in IT (information technology), capital goods and healthcare stocks,
while buying supported consumer durables, automobile and banking counters.
Mindtree,
a technology services company reported a Rs158 crore net profit for the first
quarter of fiscal 2018-19, registering 30% annual growth but 13% decline
sequentially from last quarter. "Revenue, however, grew 27% annually and
12% sequentially to Rs1,640 crore for the quarter (Q1) under review," said
the firm in a statement here. In dollar terms, net income grew 24% annually but
declined 17% quarterly to $23.3 million, while revenue grew 21% annually but
declined 6.8% quarterly to $242 million. The company has 406 'bots', or
software applications running automated tasks over the internet, and performing
tasks that are simple and repetitive at a much higher rate than humans,
deployed to work autonomously and enable its employees to do more and
accomplish larger goals. The company has 18,990 techies with 12%
attrition rate.
On
Friday, the major indices of the Indian stock markets rallied and closed with
gains over Thursday’s close. On the NSE, there were 800 advances, 913 declines
and 348 unchanged.
The
key Indian equity indices traded on a positive note on Friday riding on the
Central government's confidence of winning the trust vote in Parliament,
analysts said. According to market analysts, capital goods and IT (information
technology) stocks witnessed buying activity. However, depreciation in the
Indian rupee limited the gains on the indices. The rupee touched an all-time
low of 69.12 per dollar during the day.
Footwear
major Bata India, which is focusing on "aggressive launch" of new
products, plans to add around 100 new retail stores and 50 franchises across
the country in 2018, an official said on Friday. He said the growth of the
industry has been triggered by increasing internet and smartphone penetration
and the shoe maker sold more than 8.9 lakh pairs of footwear through e-commerce
channels, recording a turnover of Rs879 million during 2017-18. In order to
expand its presence in the e-commerce space, the company also listed its
products on high traffic-generating websites, Khanna said. It recorded a
turnover of Rs2,636 crore, which marked 6% growth over the previous year. The
company’s shares closed at Rs840.00, up 1.38% on the NSE.
Wipro’s
Q1 FY19 consolidated results have been released. Income from operations stood
at Rs14,230.6 crore for the June quarter (Rs13,626.1 crore in the same quarter
of the previous year – 4.4% growth year-on-year). Net profit stood at Rs2,120.8
crore for the June quarter (Rs2,076.7 crore in the same quarter of the previous
year – 2.1% growth year-on-year). Quarterly earnings per share were Rs4.71
(Rs4.29 in the same quarter of the previous year). Wipro shares closed at
Rs281.65, down 1.45% on the NSE.The Total
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