Wednesday, October 31, 2018

India witnesses slow down in core sector growth

Growth of eight infrastructure sectors slowed down to 4.3% in September, the lowest in the last four months.

Previously, the lowest growth rate was in May 2018 when the core sectors expanded at 4.1%.

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

India jumps 23 notches in Ease of Doing Business

India has climbed 23 points in the World Bank's ease of doing business. India stands at 77th place and has became the top ranked country in South Asia. 

Fiis scale down net selling

Fiis have scaled down net selling in cash market. Today they have net sold only for Rs 194 Cr. Diis have net bought for Rs 1125 Cr in the same segment.

L&T beats street estimate

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 Larsen & Toubro has reported a net profit of Rs 2,230 crore for the September quarter. This is a jump of 23 percent year on year against Rs 1,820 crore during the corresponding quarter of last year.

It reported a revenue growth of 21 percent year on year to Rs 32,081 crore from Rs 26,447  crore during previous year.

L&T closed at Rs 1295, up Rs 24 in today's trade.

Tata Motors in reverse gear

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Tata Motors  has reported consolidated loss of Rs 1,048 crore for the quarter ended September 2018, impacted largely by disappointing performance of Jaguar Land Rover.  

The company had reported a net profit of Rs 2501 Cr in the July-September quarter of 2017-18.

Total revenue from operations, however, rose 3.3 per cent to Rs 72112 Cr billion as compared to Rs 69838 Cr in the year-ago period.

Tata Motors closed at Rs 179, up Rs 1 in today's trade.

The stock is one of the worst performer among Nifty stocks in the last one year, having lost almost 60% of its value.

Canara Bank posts Rs 300 Cr net in Sept quarter

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Bangalore based public sector Canara Bank has posted a net profit of Rs 300 Cr for Sept quarter, this fiscal. The bank had recorded a net profit of Rs 260 Cr in the same quarter last fiscal.

Total income for the quarter stood at Rs 12,679 Cr as against Rs 11,995 Cr reported last year.

The bank has slight improvement in CAR at 12.62 % (12.45%). EPS for the quarter at Rs 4.08.

Shares of Canara Bank closed at Rs 262, up Rs 6 in today's trade.

Results were announced after market hours.

BOB Q2 numbers : Asset quality, NII improves

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Bank Baroda's net profit for second quarter stood at Rs 425 Cr, up 20% in the same quarter last fiscal.

The bank's standalone revenue has improved by 7.5%, YOY to Rs 13,430 Cr. 

Its NII for the quarter came at Rs 4,492 Cr as against Rs 3,720 Cr in the last fiscal.

The provisions for the quarter has gone up by 4.3% yoy to Rs2,429.5cr.

Domestic CASA deposits registered a growth of 11.63 % .

Domestic Deposits stood at Rs 4.84 lakh Cr for Q2 FY19 up by 8.17% from 4.47 lakh Cr as on September 30, 2017.

Domestic advances grew by 20.37% to Rs 3.37 lakh Cr for Q2 FY19 from Rs 2.8 lakh Cr, year ago.

Tuesday, October 30, 2018

Fiis net sell for Rs 1592 Cr in cash market

Fiis have net sold for Rs 1592 Cr in cash market, today. Diis in the same segment have net bought for Rs 1363 Cr. Nifty lost 52 and Sensex lost 176 points in today's trade. Bank Nifty closed at 24808, down 151 points.

The stock that gained in today's trade are - Tech Mahindra, Zeel, Grasim, Dr Reddy's, among others.

The losers included Indusind Bank,HPCL, BPCL, Cipla and RIL.  

IBM to acquire Red Hat

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IBM to acquire North Carolina based Red Hat for $34 billions.

With the acquisition IBM plans to diversify from its technology hardware and consulting business into higher-margin products and services. The transaction is by far IBM’s biggest acquisition.  

 Red Hat charges fees to its corporate customers for custom features, maintenance and technical support, offering IBM a lucrative source of subscription revenue. Red Hat is one of the very few companies in the cloud computing sector that has both revenue growth and free cash flow.

IBM stock closed at $ 119.64, down 4% in Monday's trade. Red Hat is trading closed at $ 169.63.

Public Sector Banks extend gains led by UBI

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PSBs extended the gains for the second consecutive day, led by Union Bank of India which gained 8 odd percent and closed at Rs 75.70. The other major gainers included Canara bank (7.8%), Indian Bank (5.24%), Syndicate Bank (5.22%) and BOI (4.44%). SBI too gained 2% and closed at Rs 274.

Stellar show by Tech Mahindra in Q2

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 Tech Mahindra has posted 27 per cent year-on-year rise in net profit at Rs 1,064 crore for the quarter ended September 30.  

The company had reported Rs 836 crore profit in the corresponding quarter last year. 

Consolidated revenue from operations increased to Rs 8,630 crore during the quarter under review against Rs 7606 crore in the same period last year. 

The stock is the top gainer in today's trade, closed at Rs 685, up Rs 20.

Results were announced after market hours.