Tuesday, October 16, 2018

Infy beats estimate, reports Rs 4110 Cr net in Q2

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 Infosys has reported almost 14 percent sequential growth in second quarter. The net profit stood at Rs 4,110 crore.

Consolidated revenue grew by 7.7 percent to Rs 20,609 crore compared to Rs 19,128 crore in previous quarter.

The company signed Rs 14,500 Cr worth of deals during the quarter.

The company has maintained its full year constant currency revenue growth guidance at 7 percent and EBIT margin around 24 percent.

The stock closed at Rs 692, down Rs 7 in today's trade.

Results were announced after market hours.

Moody's raises concern on liquidity

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Rating agency Moody’s has raised concerns over the current liquidity situation in the capital markets, which was triggered following the debt defaults by IL&FS in September this year. 

In a note released recently, the rating agency says that the continued liquidity stress for an extended period of time will have a deep impact on Indian non-banking finance companies  and erode their credit profiles significantly.

It also added that the ongoing liquidity crunch may also prove negative for the broader economy.

Monday, October 15, 2018

Bank credit picks up

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Bank credit rose by almost 13 per cent to Rs 90 lakh crore in the fortnight ended September 28, while the deposits grew by 8 per cent to Rs 118 lakh crore, according to RBI.
In the year-ago fortnight, advances stood at Rs 80 lakh crore, while the deposits at Rs 109 lakh crore.

Fiis pull out Rs 26,600 Cr in first 2 weeks of Oct

Foreign investors have pulled out close to Rs 26,600 crore from the Indian capital markets in the first two weeks of this month due to fall in rupee and rising crude oil prices and US treasury yields. 

The pullout is much higher than the over Rs 21,000 crore net outflow seen in entire September. 

Sunday, October 14, 2018

IPO ANALYSIS : Osmotica Pharmaceuticals - Avoid


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Issue Details :

Issue opens  
15-10-2018
Issue size
83,00,000 equity shares


Price
$14-$16
Business
Bio-pharmaceutical company
Promoters / Ceo
Brian Markison
Listings
Nasdaq
Underwriters
Jefferies, Barclays
City / Country
Bridge water NJ USA


Remarks :

  1. Limited operational history.

SBI reports says that RBI is unlikely to raise rates this year.

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According to SBI, the Reserve Bank of India is not expected to hike key lending rates in the current fiscal.

CPI inflation marginally increased to 3.77 per cent in September 2018. Interestingly, on a m-o-m basis, rural food inflation has registered a decline, even as headline registered an increase.

The core CPI inflation declined to 5.81 per cent in September 2018 from 5.92 per cent in August 2018. They expect CPI for FY19 at 4.2 per cent. The inflation trajectory projection makes them believe that rate hike is now off the table in FY19.

Avenue Supermart's net at Rs 226 Cr

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Avenue Supermart has  posted 18 per cent year-on-year rise in net profit at Rs 226 crore for the quarter ended September 2018. It had posted a net profit of Rs 191 crore in the corresponding quarter last year. 

Revenue from operations jumped 38.94 per cent YoY to Rs 4,873 crore for the quarter under review against Rs 3,507 crore in the same period last year. 


TME postpones NYSE listings

Tencent Music Entertainment has postponed the plans for a public offering in New York, in view lackluster performance of many of this year’s China tech listings.

IPO ANALYSIS : NIU Technologies - Invest

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Issue Details :

Issue opens  

15-10-2018
Issue size
83,00,000 shares


Price
$10.50-$12.50
Business
Mfrs of electric scooters
Promoters / CEO
Yan Li
Listings
Nasdaq
BRLMs
Citi,Credit Suisse and Needham & co
City / Country
Beijing, China