Wednesday, May 31, 2017

GDP is at 6.1% in q4

India's economic growth, which slowed down to a three-year low of 7.1%. Demonetisation move also had an impact on FY17 numbers. For q4 the GDP stood at 6.1%. The growth was revised upwards to 8% for the previous year from 7.9% due to revision in the IIP and WPI series. 

Max Financial Services net at Rs 154 cr

Max Financial Services has reported 57 per cent increase in consolidated net profit for the financial year ended March 31, 2017 at Rs. 396 crore.

Total consolidated revenue in financial year 2016-17 grew 30 per cent to Rs. 15,249 crore .

On a standalone basis, MFSL, has recorded a net profit of Rs. 154 crore, up 34 percent over net profit of Rs. 115 crore in previous fiscal.

After Care, Icra, Moody's downgrade Rcom

Moody’s Investors Service has downgraded Reliance Communications’ corporate family rating and senior secured bond rating on account of weak performance and “fragile” liquidity position. The enterprise has already been downgraded by two other agencies Care and Icra.

 Anil Ambani-led Reliance Group company has informed the lenders that it would repay Rs 25,000 crore before September 30 this year.

World Bank lowers India's growth

World Bank has lowered the growth projection of the Indian economy for 2017-18 to 7.2% from the earlier 7.6%.

The bank also estimated that the economy decelerated to 6.8% in 2016-17 fiscal from the earlier projection of 7%, saying demonetisation did disrupt the country’s growth recovery.

Monday, May 29, 2017

L&T reports robust earnings in q4

 Infrastructure major L&T's profit has increased by 28% in q4 of fy17. The profit  stands at Rs 3,180 crore  as compared to Rs 2,482 crore in the same quarter last  year. 

 Income from operations during the quarter rose 12 percent to Rs 36,828 crore  compared with Rs 32,876 crore in same quarter last year.

HDFC twins join top 5 club

HDFC twins - HDFC Bank ( Rs 1632) and HDFC (Rs 1599) are among the top 5 companies in terms market cap. HDFC Bank's market cap is at Rs 4.19 lac cr and it is the 3rd most valued company. HDFC's market cap stands at Rs 2.54 lac cr which gives the company the fifth position.

TCS is the most valued company whose market cap is Rs 5.07 lac cr, followed by Reliance (4.41 lac cr).

ADAG group stocks trades weak, Rcom worst hit

Adag group stocks have fallen most in today's trade. Reliance Capital, Reliance Power, Reliance Infra have fallen around 8%. Rcom has suffered the worst. The stock has lost 19% as of now and trading at Rs 20, after hitting lifetime low of Rs 19.70. As market report the group gas defaulted in loan payments to various banks. As on last quarter the the group borrowed more than 1 lac crore from various banks.

Sun Pharma's revenues down 8% in q4

Sun Pharma : Highlights of Q4FY17 consolidated financials.

• Sales / Income from operations at Rs. 6,825 crores, down 8% over same quarter last year.

• India sales at Rs. 1,916 crores, up by 10% over Q4 last year.

• EBITDA at Rs. 1,236 crores, resulting EBITDA margin of 18%.

• Net profit was at Rs. 1,223 crores, down 14% over Q4 last year, resulting Net profit margin of 18%.

Highlights of FY17 consolidated financials.

• Sales / Income from operations at Rs. 30,264 crores, a growth of 9% over same period last year.

• India sales at Rs. 7,749 crores, up by 8% over the last year.

• EBITDA at Rs. 8,775 crores, resulting EBITDA margin of 29%.

• Net profit for the FY17 was at Rs. 6,964 crores, resulting Net profit margin of 23%. Net profit grew by 53% over the last year. 

Sunday, May 28, 2017

SoftBank to raise stakes in Nvidia

 SoftBank Group Corp, Japanese multinational telecommunications and  Internet corporation  which holds 4.9 percent in Nvidia is considering  raising stakes in the company. SoftBank is the fourth-largest shareholder in  the  graphics chipmaker. The holding has a market value of about $4.1  billion.

Bloomberg : Apple developing Neural Engine

According to an article in Bloomberg, Apple  is working on a computer chip that would “offload” tasks in artificial intelligence.

The article says that the A.I. chip, dubbed "Apple Neural Engine” internally, would be meant for “devices,” meaning, the company’s iPhone and iPad. 

 That the device is meant to take over some processing done currently by the microprocessor or “application processor,” and by the graphics processing unit, or “GPU,” circuitry. Apple’s custom “A” series chips in its iOS devices fulfill both those roles.

Tech Mahindra's revenues up, net dips

Tech Mahindra has reported  31 per cent dip in its fourth quarter net profit at ₹588 crore, revenues for the quarter were up 8.9 per cent at ₹7,495 crore from ₹6,884 crore.

For the  full-year, Tech Mahindra reported a 6 per cent drop in net profit at ₹2,813 crore for FY17 and a 10 per cent increase in revenue at ₹29,141 crore.

Sun Pharma warns of revenue, profitability decline

Sun Pharma has warned investors that sales could decline in the coming year amid downward pressure on generic-drug prices in the U.S. and regulatory issues at one of its biggest factories. Revenue fell 6.6 percent to 7140 cr  rupees in the three months ended March 31 from the same period a year earlier. 

SBI puts breaks on ola, uber cabs financng

SBI has reportedly suspended car loans for Ola and Uber taxis across multiple cities. The move was in response to increasing defaults by drivers of the cab aggregators.

As per market report the bank has reportedly seized close to 300 cars for payment defaults.

Saturday, May 27, 2017

Today's quote

The value of a company is the sum of the problems you solve together.

Martin Lorentzon, 
Cofounder of Spotify and TradeDoubler

SBI to raise Rs 15,000 cr through shares sale

SBI is on the lookout for merchant bankers to handle its mega share sale. The process for selection is on and will take a few more days before a final call is taken.

According to  merchant banking sources, many companies including Bank of America Merrill Lynch, Deutsche Bank, Citi, IIFL, JM Financial and Kotak have applied.

ITC up 3% on good numbers

FMCG cum cigarette major ITC reported over 12 per cent increase in standalone net profit at ₹2,669 crore for the fourth quarter of FY17. 

Net profit for the corresponding quarter in the previous fiscal was ₹2,381 crore.

For the full year, standalone net profit stood at ₹10,201 crore, while total income was ₹57,434 crore. 

 ITC stock hit a 52-week high of ₹313.40 yesterday. 

The stock closed at ₹309, up 3 percent.

Nvidia trades at life time high

Nvidia stock which is on a song since it reported q1 number few days ago has touched life time high of $ 145.28, before closing at $143 in Friday's trading.

IOC stake sale : Govt picks SBI Caps, Goldman Scahs

Center has picked 5 merchant bankers including, SBI Caps, Goldman Sachs and Citigroup, to manage the government’s 3 per cent stake sale in IOC which could fetch about Rs 6,000 crore to the exchequer. 

The other bankers who have been selected are Deutsche Equities and ICICI Securities.

RBI : ICICI Bank under reported NPAs in FY16

According to RBI inspection report ICICI Bank had under-reported gross non-performing assets in FY16 to the tune of Rs5,104.61 crore. While the bank reported gross NPAs of Rs 26221 crore in FY16, the Reserve Bank of India’s supervision had found the gross NPAs to be at Rs 31326 crore in the same period.

HPCL stock gains 12% on q4 numbers

 HPCL stock gained 12% in Friday's trade as the company reported a 31 per cent rise in net profit at Rs 1,819 crore in the fourth quarter of the financial year  2016-17, as against Rs 1,388 crore during the same period in FY16. 

The gross sales for the January to March period in FY17 stood at Rs 58,668 crore as compared to Rs 48,145 crore for the same period of the last year. 

The stock closed at Rs 569, up Rs 60.

Friday, May 26, 2017

IOCL's margins soar in March quarter

Indian Oil  Corp has reported  86 per cent increase in net profit for the fourth quarter of 2016-17 at ₹3,721 crore. IOCL had suffered an inventory loss of ₹3,417 crore in the fourth quarter of financial year 2016.

Net profit for the corresponding quarter of the previous fiscal stood at ₹2,006 crore.

 The GRM for the quarter stood at $8.95 a barrel. This was higher than the $2.99 per barrel GRM in the fourth quarter of 2015-16. Inventory gains on crude oil stood at ₹2,634 crore. 

FDI : India favoured destination

India retained its top position as the world’s top most greenfield FDI investment destination for the second consecutive year.

India attracted $ 62.3 billion in 2016. India has remained ahead of China and the US as far as FDI inflows were concerned in the last year, according to FDI Report 2017. FDI by capital investment saw an increase of 2 per cent to $ 62.3 billion in 809 projects during 2016 in India.

Nse transfers 10 stocks to T for T segment

Nse has transferred the following 10 stocks to trade for trade segment wef 30-05-2017.

Sr. No. Name of the security

1 AGC Networks Limited
2 Bedmutha Industries Limited
3 Fertilizers and Chemicals Travancore Limited
4 Hb Stockholdings Limited
5 HOV Services Limited
6 Indosolar Limited
7 MVL Limited
8 Shalimar Paints Limited
9 SKIL Infrastructure Limited
10 Trigyn Technologies Limited

Bharat forge reports 12% increase in revenue

Bharat Forge's revenue  grew 12 per cent in the March quarter to Rs 1183 crore.  Growth was led by exports which grew 12 per cent over a year ago. In addition to automobiles, the oil and gas space has seen some rebound. 

Thursday, May 25, 2017

Canaccord Genuity : Apple most valuable brand

According research firm Canaccord Genuity Apple is the most valuable enterprise under the Sun. A valuable brand spurs demand and creates pricing power. Apple sold 78 million units of iPhone in the fourth quarter of 2016. The average selling price was $695. Pricing for chief competitor Samsung it was around $500. Apple earned 92% of the profits in the smartphone category and has racked up a cash hoard of $257 billion on its balance sheet.

Google is second, followed by Microsoft, Facebook, Coca Cola, Amazon, Disney, Toyota, Mcdonald's and Samsung.

Out of the top 8 brands in the world, USA holds 8, one each by Japan and South Korea.

Wednesday, May 24, 2017

Lupin reports 50% drop in net, stock bounces back

Lupin has reported a net profit of Rs 380 crore for the fourth quarter ended March, as against Rs 748 crore a year ago for the same quarter.

The stock after losing almost 13% bounced back and closed at Rs 1338. Intraday it touched a low of Rs 1167.  Trading volume too jumped many times. In Nse more than 40 lacs shares changed hands. 

World equity markets in jittery over China's downgrade

China's sovereign credit rating was downgraded by rating agency Moody's. 

This is for the first time in nearly 30 years, a downgrade has happened, for China. 

Moody's expects the financial strength of the economy will erode in coming years as growth slows and debt continues to rise.

The one-notch downgrade in long-term local and foreign currency issuer ratings, to A1 from Aa3, comes as the Chinese government grapples with the challenges of rising financial risks stemming from years of credit-fueled stimulus.

The dollar and U.S. bond yields were steady as investors awaited the minutes from the Federal Reserve's last policy meeting. An interest rate rise next month is now 75 percent priced in.

Oil wiped out earlier gains ahead of OPEC's meeting at which the cartel is expected to lead an output cut extending into the first quarter of next year.

Europe's index of leading 300 shares was flat on the day around 1,540 points, MSCI's global share index was down 0.1 percent and U.S. stock futures pointed to a fall of up to 0.1 percent at the open on Wall Street.

Tata Motors revenue declines

Tata Motors has reported 17%  decline in consolidated net profit for Q4, FY17. The  net profit stood at Rs 4,336 crore.

In the same quarter of the previous financial year, the company’s profit was Rs 5,211 crore.

Consolidated revenue for the quarter declined three per cent to Rs 77,272 crore, compared to Rs 79,549 crore in the corresponding period of the previous year. 

For FY17, consolidated profit stood at Rs 7,557 crore, down 35 per cent from Rs 11,678 crore in FY16. Consolidated revenue for FY17 was Rs 2.69 lakh crore; in FY16, it was Rs 2.73 lakh posted in FY16. 

Tuesday, May 23, 2017

Taro awaits USFDA approval for 35 ANDAs

Taro Pharmaceuticals  currently has a total of thirty-five ANDAs awaiting FDA approval, including 5 tentative approvals.

Monday, May 22, 2017

DIIs turns aggressive, net buy for Rs 1263 cr

DIIs have turned aggressive and net bought for Rs 1263 cr in cash market, today. FIIs have net sold for Rs 321 cr in the same segment.


Issue opens / closes on
23-05 / 25-05-2017
Issue size
38,49,000 equity shares
Face Value
Rs 10
Price band
Rs 49
Manish Jalan and Mr. Rajesh J
Goods transport / logistics solutions
Nse sme
Sarthi Capital advisors, Navigant  Corp Advisors

IPO ANALYSIS : Shri Ram Switchgears Limited - Avoid

Issue opens / closes on
25-05 / 30-05-2017
Issue size
26,70,000 equity shares
Face Value
Rs 10
Price band
Rs 19
Nilesh Kumar Jhalani,
Rohit Kumar Jhalani and  Devraj Jhal

Mfrs of Transformers / Feeder pillars / distribution boxes
Nse sme
Sarthi Capital Advisors

IPO ANALYSIS : Vadivarhe speciality Chemicals Limited - Invest

Issue opens / closes on
22-05 / 25-05-2017
Issue size
34,44,000 equity shares
Face Value
Rs 10
Price band
Rs 42
Sunil Haripant Pophale
Hem Securities
Manufacturers  of  Organic  Chemicals /
Intermediates, Personal Care Products and Speciality  Chemicals

Forthcoming IPO : Dixon Technologies Limited

Issue details:

Sunil Vachani
Rs 10

Mfrs of LED tv, cfl bulbs / consumer durables.

Motilal Oswal, IIFL Holdings, IDFC Bank, Yes Securities

Forthcoming IPO : Shalby Limited


Issue details:

Dr Vikram Shah / others
Rs 10
Rs 580 cr

Multi speciality chain hospital

Edelweiss, IIFL Holdings, IDFC Bank

IPO ANALYSIS : Yug Decor Limited - Avoid

Issue opens / closes on
18-05 / 23-05-2017
Issue size
11,08,000 equity shares
Face Value
Rs 10
Price band
Rs 26
S K Saraswat, C Saraswat
Gretex Corporate Services
Satellite Corp Services