Nifty, Sensex May Head Higher If Today's Low Holds – Thursday closing report-The Total Investment & Insurance Solutions

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01 November 2018

I had mentioned in Wednesday’s report that Nifty, Sensex might continue to rise. The major indices of the Indian stock markets were range-bound on Thursday and ended flat over Wednesday’s close. On the NSE, there were 1,134 advances, 596 declines and 329 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below: The Total Investment & Insurance Solutions

Despite firm global cues and a slight recovery in the domestic currency, the key equity indices traded flat during the afternoon session of trade on Thursday as investors remained cautious ahead of key macro-economic data release and tension between the RBI and government. Export-oriented stocks, IT (information technology) and healthcare struggled as the rupee recovered to around 73.79 a US dollar from Wednesday's close of 73.95. Buying was witnessed in banking, finance and capital goods counters on BSE.

A faster rise in demand accelerated the pace of India's manufacturing sector output in October, key economic data released on Thursday showed. According to the Nikkei India Manufacturing Purchasing Managers' Index (PMI), the composite indicator of manufacturing performance increased to 53.1, from 52.2 in September. An index reading of above 50 indicates an overall increase in economic activity, or growth, and below 50 an overall decrease. The Total Investment & Insurance Solutions

Revenue collections under the Goods and Services Tax (GST) crossed the Rs 1 lakh crore mark in October, Finance Minister Arun Jaitley said on Thursday.

HCL Technologies (HCL) on Thursday announced its collaboration with California-based Pivotal Software to help enterprises create a new generation of Cloud-native applications. As part of the collaboration, HCL will use Pivotal's software offerings and Platform Acceleration Lab (PAL), the company said in a statement. The company’s shares closed at Rs1,015.50, down 3.80% on the NSE. The Total Investment & Insurance Solutions

Automobile major Maruti Suzuki India's overall sales, including exports for October, inched up by 0.2%. The company said on Thursday that total sales rose to 146,766 units in the month, compared to 146,446 units sold in the year-ago period. "Maruti Suzuki India Ltd sold a total of 146,766 units in October. This includes 138,100 units in domestic market and 8,666 units of exports," the company said in a statement. In the domestic market, it sold 138,100 units during October, up by 1.5% from 136,000 units sold in the corresponding month in 2017. However, the carmaker exported 8,666 units, registering a decline of 17% from 10,466 units shipped out in the year-ago month. Maruti Suzuki shares closed at Rs6,702.00, up 1.29% on the NSE. The Total Investment & Insurance Solutions

Jet Airways said that it has received notices for payment "delays or defaults" from some aircraft lessors. "Whilst the company is in receipt of notices for payment delays or defaults from few aircraft lessors, they are mindful of the challenges currently faced by the Indian aviation industry and they have been supportive of the company's efforts," the airline said in a BSE filing. "We also wish to clarify that the company is current on its payments to Airports Authority of India (AAI) and no show-cause notice has been received by the company from AAI." The airline is financially suffering from an increase in Brent fuel price by more than 36 per cent, along with a weak rupee and a mismatch between high fuel prices and low fares primarily undermined its financial performance during the quarter under review. Jet Airways also plans to go in for a cost reduction programme to reduce expenses totalling Rs2,000 crore over two years. In addition, the company has decided for a "balance-sheet restructuring" which entails capital infusion and debt reduction. The company’s shares closed at Rs225.65, up 1.69% on the NSE. The Total Investment & Insurance Solutions

Automobile major Tata Motors reported a standalone net profit of Rs109.14 crore during the quarter ended September 30, on the back of rise in sales. During the same period last year, the company reported a net loss of Rs283.37 crore, Tata Motors said in a statement. Total standalone income during the second quarter of the financial year 2018-19 was Rs18,102.56 crore, 33.77% higher from Rs13,532.64 crore earned during the corresponding period of FY18. It further said its total revenue from operations during the period under review rose by 32.85% to Rs 17,644.13 crore. In Q2 FY19, wholesales (including exports) grew 25% to 190,283 units with broad-based growth across the entire portfolio. Tata Motors shares closed at Rs178.75, up 0.06% on the BSE. The Total Investment & Insurance Solutions

Global IT company Tata Consultancy Services on Wednesday announced the acquisition of W12 Studios, an award-winning digital design studio based in London, for an undisclosed sum. TCS shares closed at Rs1,934.60, down 0.15% on the BSE.

State-run Canara Bank reported Rs300-crore net profit, registering 15.4% annual growth for second quarter of fiscal 2018-19 from Rs260 crore in the same period a year ago. Canara Bank shares closed at Rs251.75, down 3.89% on the BSE.

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

Major Indices (The Total Investment & Insurance Solutions)

GST collection crosses Rs 1 trillion in October-The Total Investment & Insurance Solutions

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01 November 2018

 

GST (The Total Investment & Insurance Solutions)

Buoyed by a pick-up in consumption demand during the festival season, collections from the goods and services tax crossed Rs 1 trillion in October.

The pick-up in collections will provide respite to a government struggling to meet its fiscal deficit target.

After collections in April crossed Rs 1 trillion thanks to spillover tax payments for the second year, this is the second month of this fiscal year that collections have crossed Rs 1 trillion.

“GST collections for October 2018 have crossed Rs 1 lakh crore. The success of the GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities,” Finance Minister Arun Jaitley wrote on micro-blogging site Twitter.

Total GST collected in October was Rs 1.007 trillion, of which Central GST was Rs 16,464 crore, state GST was Rs 22,826 crore, integrated GST was Rs. 53,419 crore and cess was Rs. 8,000 crore.

In September, GST collections were at Rs 94,442 crore.

Abhishek Jain, tax partner, EY, said the thrust in collections and its alignment to the forecasted numbers were quite a welcome one and added to the Diwali cheer.

“While a possible reason for an upsurge in September could be 2017-18 closing adjustments, this trend could be expected to continue with implementation of anti-evasion measures such as TDS/TCS,” he said.The Total Investment & Insurance Solutions

Government likely to announce measures to help small and medium-sized businesses on November 2 - finance ministry -The Total Investment & Insurance Solutions

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01 November 2018

small and medium-sized businesses (The Total Investment & Insurance Solutions)

India is likely to announce new steps to support small and medium-sized businesses, such as increased access to credit and financial markets, at an industry event on Nov. 2, the finance ministry said in a tweet.

Prime Minister Narendra Modi will launch a programme to support the businesses in New Delhi on Friday, the finance ministry said.

Modi’s government is pushing the central bank to relax lending norms for small businesses and pump more liquidity into the market to bolster economic growth before key state elections due in the next few weeks and a general election that has to be held by May.

Tensions between the Reserve Bank of India and the government have intensified in the past week as the central bank pushes back against government pressure to relax its policies and reduce its powers.The Total Investment & Insurance Solutions

India's current economic scenario not like 1991 crisis: Bimal Jalan-The Total Investment & Insurance Solutions

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01 November 2018

 

Direction (The Total Investment & Insurance Solutions)

The sharply depreciating rupee amidst rising global oil prices and the massive foreign funds outflow from the capital market are not crises comparable to the likes of the balance of payments (BoP) emergency India experienced in 1991 because the country's fundamentals are stronger than before, its BoP is strong and it has one of the highest levels of foreign exchange reserves, says former RBI Governor Bimal Jalan.

On the Reserve Bank of India (RBI) refusing to raise its key lending rate in October as a way to counter the falling rupee and the fund outflows, Jalan told IANS in an interview that in setting its interest rates the central bank's monetary policy committee has its own set of considerations like inflation, growth and the global economic scenario.

Instead, Jalan, also a former Finance Secretary and Chairman of the Prime Minister's Economic Advisory Council, says in his latest book -- "India Ahead 2025 and Beyond" -- that though the country's fundamentals are much stronger today, it faces several old and new challenges in the area of politics, economics and governance. "What is happening to the rupee is not a crisis... it is not a situation like in 1991 when we had a grave balance of payments situation. Now we have a much better ability to intervene, the economy has high capacity, we have hi-technology... our fundamentals are strong," he said in reply to a question.

On the ongoing sharp foreign fund outflows from the capital market, Jalan pointed to the earlier flush of inflows in the preceding period. "Financially we are in a much stronger position now than, for instance, we were during the Asian financial crisis in the nineties. We were able to handle that crisis, and we can handle this outflow situation now," he said. The Asian financial crisis was a sequence of currency devaluations and other events that began in mid-1997 and spread through many Asian markets. The currency markets first failed in Thailand and the contagion spread rapidly throughout Southeast Asia, in turn causing stock market declines and reduced import revenues.

On the other hand, the former Governor pointed to the need for reform in the wider area of political economy as elaborated in his latest book, which would include strengthening the prudential, provisioning and capitalisation norms of state-run banks to bring them in line with the best international standards and reduce the possibilities of future financial crises.

The accumulated non-performing assets (NPAs), or bad loans of banks, which have crossed a staggering Rs 10 lakh crore, are a matter of great concern, he writes. "PSBs (public sector banks) have to decentralise. Banks report now to the government, which should withdraw from the actual day-to-day governance of banks," Jalan said. "The government should restrict its role to deciding on policy and monitoring the performance of banks.

 It has to decide to do this reform." He pointed out that some reform measures, like the RBI's Prompt Corrective Action (PCA) framework for banks and enactment of the Insolvency and Bankruptcy Code (IBC), had been initiated to deal with the NPA crisis which had provoked risk-aversion among banks and has been accompanied by a significant decline in private corporate revenues and investment. "All these measures could have been taken a little earlier... one or two years ago," he said. Declining to comment on the RBI-government relations, Jalan, instead, drew attention to the many old 11/1/2018 India's current economic scenario not like 1991 crisis: Bimal Jalan and new challenges in the areas of politics economics and governance that the country faces which are the focus of his book.

"These can only be met if we are able to generate sufficient political will to pursue the right policies and shake off the dead weight of the past," he said. The RBI has recently underlined the importance of its autonomy and warned that the government's focus on short-term goals could be harmful to the economy. At a public lecture in Mumbai last week, RBI Deputy Governor Viral Acharya said undermining the regulator's independence could be "catastrophic", citing the examples Argentina's former central bank chief, who resigned following a dispute over the transfer of reserves, and the recent criticism of their central banks' actions by the US and Turkish Presidents.

 Finance Minister Arun Jaitley retaliated by alleging that the central bank looked the other way when indiscriminate lending happened between 2008 and 2014 leading to the NPA crisis. Media reports earlier this week said that the government has invoked Section 7 of the RBI Act that empowers it to consult and direct the RBI to act on issues that it considers necessary in public interest. Facing criticism for invoking a hitherto unused section to issue instructions to the RBI, the government on Wednesday said that it respected the autonomy of the central bank but within the framework of the RBI Act.The Total Investment & Insurance Solutions

World Stocks Gain On Hopes For Brexit Progress-The Total Investment & Insurance Solutions

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01 November 2018

Japan financial markets (The Total Investment & Insurance Solutions)

 World markets were mostly higher Thursday following a report that British Prime Minister Theresa May has secured a deal with the European Union on financial services, as the country's exit from the bloc looms.

KEEPING SCORE: Germany's DAX rose 0.6 percent to 11,521 and France's CAC 40 was 0.1 percent higher at 5,098. Britain's FTSE 100 was 0.2 percent higher at 7,139. Wall Street was set for an optimistic open. Dow and S&P 500 futures both rose 0.4 percent.

ASIA'S DAY: Hong Kong's Hang Seng gained 1.8 percent to 25,416.00 while the Kospi in South Korea was 0.3 percent lower at 2,024.46. The Shanghai Composite index added 0.1 percent to 2,606.04. Australia's S&P-ASX 200 rose 0.2 percent to 5,840.80. Tokyo's Nikkei 225 index tumbled 1.1 percent to 21,687.65. Japanese telecommunications companies sank after mobile operator NTT DoCoMo caved to government pressure and said it would cut fees by as much as 40 percent next year. Its shares plunged 14.7 percent on Thursday. Stocks rose in Taiwan and throughout Southeast Asia.

BREXIT PROGRESS: Sentiment in Europe was boosted and the pound jumped on reports that Britain and the European Union had reached a deal to give U.K. financial services companies access to the bloc after Brexit. The article by The Times only cited anonymous sources, however, and other reports suggested a deal had not yet been finalized. The pound was up 1 percent at $1.2895, consolidating its rise after the Bank of England said it future rate increases depend on reaching a Brexit deal.

CHINESE STIMULUS: Manufacturing in China slowed in October, according to official data, triggering concerns over the effects of tariffs on businesses despite official assurances. In a statement on Wednesday, the State Council, China's Cabinet, said there was a need for "timely countermeasures" and that "some policy effects needs to be further released". The hint of more Chinese stimulus gave Asian markets an early lift. But worries that it would worsen tensions with Washington weighed on investors who were more risk adverse.

ANALYST'S TAKE: Fiscal stimulus by the Chinese government is a tricky affair as it would weaken its currency, Michael Every, senior Asia-Pacific strategist at RaboResearch, said in a commentary. "That is something they don't want, partly to prevent capital flight, and partly because Washington is watching like a hawk on that front," he added.

ENERGY: Oil prices continued to weaken on news that U.S. crude stockpiles increased for the sixth straight week. Benchmark U.S. crude lost 29 cents to $65.02 per barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 87 cents to settle at $65.31 a barrel in New York. Brent crude, used to price international oils, shed 44 cents to $74.60 per barrel. In the previous session, it dropped 91 cents to $75.04 a barrel.

CURRENCIES: The dollar fell to 112.83 yen from 112.94 yen late Wednesday. The euro strengthened to $1.1401 from $1.1312.The Total Investment & Insurance Solutions

Core sector growth slows down to 4-month low of 4.3 per cent in September -The Total Investment & Insurance Solutions

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31 October 2018

Growth of eight infrastructure sectors slowed down to 4.3 per cent in September, the lowest in the last four months, as production of crude oil and natural gasdeclined. Previously, the lowest growth rate was in May 2018 when the core sectors expanded at 4.1 per cent.

 Eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had grown by 4.7 per cent in September 2017.

The output of crude oil and natural gas dipped by 4.2 per cent and 1.8 per cent respectively in the month under review, according to the data released by the commerce and industry ministry on Wednesday.

 Fertiliser, cement and electricity output grew by 2.5 per cent, 11.8 per cent, and 8.2 per cent, respectively. However, the growth of coal, refinery products, and steel sectors declined to 6.4 per cent, 2.5 per cent and 3.2 per cent respectively in September.

During AprilSeptember 2018, the core sector growth was 5.5 per cent as against 3.2 per cent in the year-ago period. These eight segments comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP). The Total Investment & Insurance Solutions

India will need USD 4.5 trillion till 2040 for infra development: Amitabh Kant -The Total Investment & Insurance Solutionsinfrastructure sector(The Total Investment & Insurance Solutions)

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31 October 2018

 

1. infrastructure sector(The Total Investment & Insurance Solutions)

India will need around USD 4.5 trillion till 2040 for development of infrastructure sector in the country, Niti Aayog CEO Amitabh Kant said Wednesday. Kant further said that there is an urgent need to restructure entire existing public private partnership (PPP) framework as there are delays in completion of infrastructure projects due to disputes. "India needs to spend close to around USD 4.5 trillion till 2040 to develop infrastructure in order to really improve overall economic growth and community well being," he said at an event organised by Dun & Bradstreet (D&B). Kant pointed out that the government has been focussing on the infrastructure sector. "Track record of the last four years has shown that all spending in the infrastructure sector across railways, airports and road came from the government," he said. Noting that it is better to create infrastructure initially through the government spending, Kant said, "but then as soon as it completes projects, the government must get out of the infrastructure projects because it is extremely poor at operation and maintaining infrastructure projects"

Kant said India is growing at the rate of 7.5 per cent per annum and challenge is to grow at higher rates. "Therefore, the country needs to focus on building quality infrastructure," he stressed. Kant also pointed out that the cost of transportation in India is very high. The Niti Aayog CEO also noted that there is a pressing need of leveraging alternate and newer source of financing of infrastructure projects.The Total Investment & Insurance Solutions

World Stocks Rally On Strong Earnings Reports-The Total Investment & Insurance Solutions

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31 October 2018

financial markets (The Total Investment & Insurance Solutions)

Global markets were broadly higher Wednesday after major companies reported strong earnings for the third quarter, soothing fears that rising interest rates may deter corporate investment.

KEEPING SCORE:

 In Europe, Britain's FTSE 100 rebounded 1.5 percent to 7,138. Germany's DAX rose 1.2 percent to 11,421 and France's CAC 40 rallied 2.1 percent to 5,083. Wall Street was set for early gains. Dow futures added 0.7 percent and S&P 500 futures rose 0.8 percent higher.

ASIA'S DAY:

 Japan's Nikkei 225 index jumped 2.2 percent to 21,920.46 and the Shanghai Composite index added 1.4 percent to 2,602.78. Hong Kong's Hang Seng rose 1.6 percent to 24,979.69. The Kospi in South Korea gained 0.7 percent to 2,029.69. Australia's S&P-ASX 200 reversed early losses, finishing the day 0.4 percent higher at 5,830.30. Shares were higher in Taiwan and throughout Southeast Asia.

U.S. EARNINGS: 

Big companies including Mondelez, which makes Oreos, Cadbury chocolates and Trident gum, have reported strong quarterly earnings. Mondelez's stocks rose by the most in a year, gaining 5 percent. Athletic apparel maker Under Armour also posted strong quarterly earnings. Even Facebook's shares inched higher in after-hours trading after it reported revenue that was slightly under projections. This assuaged concerns that steady interest rate hikes by the Federal Reserve are raising the cost of borrowing. Another increase is expected later this year, with more to come in 2019.

In Europe, earnings were also largely positive: shares in Airbus were up 2.6 percent after it reported a rise in profits and cosmetics maker L'Oreal's stock rallied 7 percent on upbeat results.

ANALYST'S TAKE: 

"Global economic fundamentals are still intact. Although growth has slowed in the third quarter for most economies, it's not contracting," said Francis Tan, an investment strategist at UOB private bank. "The drop in global equities this month, to the tune of $8 trillion, makes it an irresistible thesis for investors to get back into the action," he said.

CHINESE PMI:

 On Wednesday, China reported that its official manufacturing purchasing managers' index slowed to 50.2 points in October from 50.8 a month earlier. Figures had declined across the board except for production outlook, which was unchanged. Readings above 50 indicate expansion, while lower numbers indicate contraction on the index's 100-point scale. Still, sentiment was supported by an open call from the Chinese government to funds to support the equity markets.

BANK OF JAPAN: 

As expected, Japan's central bank kept its monetary stance intact as it wrapped up its latest policy meeting. The Bank of Japan kept the key interest rate at minus 0.1 percent and its target for long-term bond rates at around zero. The bank also downgraded its GDP forecast for the fiscal year through March, to 1.4 percent from 1.5 percent, with an estimate of 0.8 percent for the following fiscal year.

ENERGY: Benchmark U.S. crude added 23 cents to $66.40 per barrel in electronic trading on the New York Mercantile Exchange. The contract dropped 86 cents to settle at $66.18 a barrel in New York. Brent crude, used to price international oils, gained 38 cents to $76.29 per barrel. In the previous session, it dropped $1.42 to $75.95 a barrel.

CURRENCIES: 

The dollar was flat at 113.13 yen. The euro edged down to $1.1341 from $1.1343.The Total Investment & Insurance Solutions

Nifty, Sensex Still on Course to Head Higher – Tuesday closing report-The Total Investment & Insurance Solutions

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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:

The closing values of the major Asian indices are given in the table below: The Total Investment & Insurance Solutions

Major Indices (The Total Investment & Insurance Solutions)