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14
Aug 2018
I had
mentioned in Monday’s closing report that Nifty, Sensex were under mild
pressure. The major indices of the Indian stock markets were range-bound on
Tuesday and closed with gains over Monday’s close. On the NSE, there were 848
advances, 877 declines and 349 unchanged. The trends of the major indices in
the course of Tuesday’s trading are given in the table below:
Easing
wholesale inflation lifted the key Indian equity indices on Tuesday with the
benchmark S&P BSE Sensex rising over 200 points. According to market
observers, buying activity was witnessed in banking, auto and IT (information
technology) stocks. India's annual rate of inflation based on wholesale prices
eased to 5.09% in July from a rise of 5.77% in June, official data showed here
on Tuesday. However, weakness in the Indian rupee limited the gains on the
indices. The rupee on Tuesday touched an all-time low of 70.08 per dollar.
Tata
Chemicals reported a 14% increase in its consolidated net profit from
operations to Rs270 crore in the quarter ended June 30, 2018 as compared to
Rs236.52 crore in the year-ago period. Its income from operations on
consolidated basis was at Rs2,769 crore, up by 10% from Rs2,527 crore in the
corresponding period last year. The company reported that its income from
operations for basic chemistry products at Rs63 crore was up 3%, consumer
products segment at Rs108 crore, up 33%, and specialty products at Rs116 crore,
up 25%. Company's Managing Director R. Mukundan said: "Our India's Basic
Chemistry products business registered a robust performance on the back of
improved operational efficiencies, a better sales mix and better realisations.”
On the global front, performance of the North American operations reflects
planned shut down and Kenyan operations were impaired by heavy rains." He
also said the consumer business reported a robust growth on the back of higher
volumes from Tata Salt. Tata Chemicals shares closed at Rs673.20, down 0.24% on
the BSE.
Tata
Steel reported more than double consolidated net profit at Rs1,934 crore in the
quarter ended June 30, as compared to Rs921 crore in the year-ago period. Its
consolidated revenue from operations during the quarter was at Rs37,833 crore,
up 22% from Rs30,973 crore in the corresponding period last year. Speaking on
the company's performance, its Executive Director and CFO Koushik Chatterjee
said: "The performance in this quarter has been very strong and the India
operation delivered a stand-out performance of 31% EBIDTA margin on the back of
strong underlying business performance and improved market conditions."
"Our quarterly consolidated EBIDTA grew 33% year-on-year and increased to
Rs6,559 crore, with an EBITDA margin of 17%," he said. "We are
working on seeking all relevant approvals for our 50:50 JV with thyssenkrupp
for our European business. We expect underlying steel demand to be strong,
particularly in India. However, the rising trade tensions and the impact on the
global economic momentum is a cause of concern," its CEO and Managing
Director T.V. Narendran said. During the quarter, the steel maker closed the
acquisition process of Bhushan Steel under the Insolvency and Bankruptcy Code
process, it said in a statement. "The funding for the acquisition was
designed with a prudent capital structure with significant equity component to
ensure future value creation. The integration of the company is underway and is
expected to deliver synergies over the next 24 months," Chatterjee added.
Its board approved issue of debt securities of up to Rs12,000 crore in the form
of Non-Convertible Debentures (NCDs) on private placement basis in one or more
tranches. The funds will be primarily deployed towards capex, repayment of debt
and general corporate purposes, it said in a regulatory filing. Tata Steel
shares closed at Rs578.90, up 1.70% on the BSE.
Energy
exploration and production major Oil India reported an exponential increase of
56.19% in its standalone net profit for the first quarter of 2018-19. According
to the company, its net profit during the quarter under review rose to Rs703.22
crore from Rs450.24 crore reported for the corresponding period of 2017-18.
"Crude Oil price realisation increased by $23.59 per BBl to $72 per BBl in
Q1 FY 2018-19 as compared to $48.41 per BBl during Q1 FY2017-18," the
company said in a statement. "Average natural gas price realisation during
Q1 FY 2018-19 is $3.06 per MMBTU as compared to $2.48 per MMBTU in Q1
FY2017-18." Oil India shares closed at Rs207.90, down 1.73% on the BSE.
Budget
passenger carrier SpiceJet has become the first Indian low cost airline to
launch a complimentary in-flight entertainment system. According to the
company, "SpicEngage", a complimentary in-flight entertainment system
allows flyers to access a range of entertainment content at no extra charge.
"Unlike traditional in-flight entertainment systems, flyers can easily
access SpicEngage on their hand-held devices by following a few easy
steps," "The system is currently available aboard all SpiceJet's
domestic and international flights." SpiceJet shares closed at Rs88.70,
down 0.78% on the BSE.
Two-wheeler
major Hero MotoCorp will commence sale of premium motorcycle -- Xtreme 200R,
priced at Rs89,900 (ex-showroom Delhi) -- from next week. "Marking the
company's re-entry into the premium motorcycle segment, Xtreme 200R is the
first among the new range of Hero's premium motorcycles that are slated for
launch this year," the company said in a statement on Monday. According to
the company, the new motorcycle will be sold at Hero MotoCorp dealerships in a
phased manner. "While providing the thrill of riding this bike, the Xtreme
200R keeps the focus on safety with Anti-Lock Brake System (ABS), thereby
becoming the first motorcycle in its category to offer ABS as a standard safety
feature," the statement said. As per the statement, the new Xtreme 200R is
powered by a BS-IV compliant 200cc engine. Hero MotoCorp shares closed at
Rs3,266.40, down 1.26% 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:
Major Indices (The Total
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