Monday, November 19, 2018

Fiis pump in Rs 8285 Cr in November


Foreign investors have pumped in nearly Rs 8285 Cr  into the Indian capital markets so far this month, in view of improved macro situation. Foreign portfolio investors  had pulled out over Rs 21000 Cr from the capital markets, both equity and debt in September.

Friday, November 16, 2018

SBI chairman : NBFC liquidity crisis over, segment stable

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SBI's chairman  Chairman Rajnish Kumar has quelled fears of liquidity crunch in the NBFCs and said all of them have rolled over the debt that were set to mature till date.

All NBFCs have been able to meet their commitment as far as roll overs are concerned, Kumar said, on the sidelines of the 25th World Congress organised by the World Savings and Retail Banking Institute, SBI and National Bank for Agriculture and Rural Development. Kumar says that NBFC segment is stable and has good growth potential.

Fitch : India ratings unchanged, out look stable

Fitch Ratings has kept India’s sovereign rating unchanged at ‘BBB-’, the lowest investment grade with a stable outlook, saying risks to macroeconomic outlook are significant.

 Fitch says it expects India’s real GDP growth to rise to 7.8% in the fiscal year ending March 31, 2019, from 6.7% in FY 2017-18.

Thursday, November 15, 2018

Vodafone Idea loss widens


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Vodafone Idea  reported a net loss of Rs 4,923 crore second quarter of this financial year, with the company citing large migrations of customers to low-cost plans as a factor in declining revenue per user. Previous quarter / year results are not comparable since Idea was merged with Vodafone and this is the quarterly results of merged entity.

Infy to open technology hub in Texas, hire locals

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 Infosys will  open a technology hub at Richardson in the US state of Texas where it will hire 500 American techies by 2020.

The new hub will drive expansion and create jobs in Texas to reinforce the commitment to workforce development in the US, says the Indian tech major.

CBDT : Direct tax collection to exceed target

According to CBDT the direct tax collection has already crossed Rs 5 lakh crore and will exceed the budgeted target of Rs 11.5 crore set for the current fiscal.
The I-T department has issued refunds to 2.15 crore assesses amounting to Rs 1.15 lakh crore and from now on wards the net collections will increase.

Wednesday, November 14, 2018

Forthcoming IPO : Neogen Chemicals Limited

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Issue Details:
 



Issue size
Rs 70 Cr
Face Value
Rs 10
Promoters
Haridas Thakarshi Kanani
Business
Mfrs of speciality chemicals
Listings
Bse, Nse


BRLMs
Inga Advisors

Goldman Sachs cuts Apple's target price

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Goldman Sachs has slashed the Apple price target to $209, which is about 8% above current levels, from $240. They have lowered its fiscal 2019 earnings estimate to $13.00 a share from $13.44, the revenue forecast to $269.9 billion from $279.7 billion and the iPhone unit projection to 202.9 million from 214.8 million.

RBI bats for privatizing PSBs

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According to reports, Reserve Bank of India’s  central board saw a heated exchange between the representatives of the government and the central bank over the capital needs of public sector lenders in its last meeting, where Deputy Governor Viral Acharya suggested that privatization of these banks be considered.


Tata Steel's net jump by 369 percent

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Tata Steel has reported a net profit of Rs 3,604 crore for the September quarter, whopping 369 percent jump, over last year profit. The company had posted a profit of Rs 976 crore during the same quarter of last year.
The revenue grew to Rs 43,544 crore during the quarter under review, up from Rs 32,464 crore posted last year. 

The results were announced after market hours. The stock is likely to gain over 5% in today's trade.


Ashok Leyland's net up by 37 percent

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Ashok Leyland has reported 37 per cent jump in standalone net profit at Rs 460 crore for the September quarter.

The company had posted a net profit of Rs 334 crore during the same period of the previous fiscal.

The revenue from operations stood at Rs 7,608 crore, up 25 per cent as against Rs 6,076 crore during the July-September quarter of 2017-18.

Tuesday, November 13, 2018

Cipla buys Avenue Therapeutics

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Cipla has entered into an agreement to acquire US-based specialty pharma company Avenue Therapeutics for Rs 1560 Cr. This is in line with Cipla's strategy of building a specialty drugs pipeline in the US.

Cipla's US subsidiary InvaGen Pharmaceuticals Inc will make the acquisition in  stages.

Cipla closed at Rs 527.50, down Rs 4.50 in today's trade.

Sun Pharma reports loss on account of antitrust litigation provision


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Sun Pharmaceutical Industries has reported loss of Rs 213 Cr for Sept quarter as against net profit of Rs 983 Cr in June quarter.

This is due to a provision of ₹1,214 crore for estimated settlements with remaining plaintiffs in US antitrust litigation related to its sleep disorder drug Modafinil.

Total revenue from operations was Rs 7289 Cr, as against Rs 7424 Cr in the previous quarter.

Ahead results announcement, the stock tanked around 5% and closed at Rs 562.

Results were announced after market hours.

Hindalco to expand operations, to invest Rs 6000 Cr


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Aluminium and Copper major Hindalco will invest  Rs 6,000 crore towards setting up of downstream facilities in India over the next four years. 

The investments will be made at Mudra in Gujarat where it will set up an extrusion plant, while in the Sambalpur it will opt for setting up a flat rolled products unit.

The stock closed at Rs 231,up Rs 2 in today's trade.  The stock is likely to gain 3-4 percent in tomorrow's trade.