Friday, February 10, 2017

SBI's net raises, aided by other income

SBI has reported profit at Rs 2,610 crore  for December quarter, up 134 percent as compared to the same quarter in the previous year. 

 Profitability has been driven by other income. Net interest income, grew by 7.7 percent year-on-year to Rs 14,755 crore in the quarter ended December 2016, with loan growth of 4 percent at Rs 14.47 lakh crore, YoY.

Gross NPA stood  at Rs 1.08 lakh crore and net NPA rose to Rs 61,430 crore. 

BPCL posts Rs 2272 cr net in q3

BPCL has posted a net profit of Rs. 2272 cr for the quarter ended December 31, 2016 as compared to Rs. 1545 cr for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 53546 cr for the quarter ended December 31, 2015 to Rs. 64647 cr for the quarter ended December 31, 2016.

DJIA closes at record high

DJIA closed at record high of 20,172 points, in yesterday's trading.

Nvidia beats estimates in Dec quarter

Nvidia's total revenue rose to $2.17 billion in the Dec quarter as compared to $1.40 billions in the previous quarter. 

The company's net profit more than tripled to $655 million. 

Nvidia's quarterly revenue surged more than 50 percent for the second straight quarter and beat expectations, helped by rising demand for its graphics chips and strength in rapidly growing areas such as self-driving systems and artificial intelligence.

The company also forecast revenue of $1.90 billion for the current quarter.

Thursday, February 9, 2017

Canara bank to raise Rs 1124 cr through rights issue.

Canara Bank to raise Rs 1124 cr through rights offer. The bank has fixed the ratio as well as price for the rights - 1: 10 ratio, at Rs 207 a share, including premium of Rs 197.

Canara Bank has a equity of Rs 542.99 cr, as on date.

IGL records marginal increase in revenue and net in q3

Indraprastha Gas has posted a net profit of Rs. 145 cr for the quarter ended December 31, 2016 as compared to Rs. 106 cr. for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 1034 cr for the quarter ended December 31, 2015 to Rs. 1062 cr for the quarter ended December 31, 2016.

This stock is one of the top performer among midcaps, having appreciated more than 85% in the last one year.

The stock closed at Rs 1015, down Rs 5, in yesterday's trading.

Reliance Power net at Rs 276 cr

 Reliance Power has posted a net profit of Rs. 276 cr for the quarter ended December 31, 2016 as compared to Rs. 241cr. for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 2556 cr for the quarter ended December 31, 2015 to Rs. 2984 cr for the quarter ended December 31, 2016.

Hero MotoCorp's net dips, despite revenue increase

Hero MotoCorp has posted a net profit of Rs. 772 cr for the quarter ended December 31, 2016 as compared to Rs. 792 cr. for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 7898 cr for the quarter ended December 31, 2015 to Rs. 7030 cr for the quarter ended December 31, 2016.

Bharat Forge's revenue, net decreases in q3

Bharat Forge has posted a net profit of Rs. 128 cr for the quarter ended December 31, 2016 as compared to Rs. 164 cr for the quarter ended December 31, 2015. 

Total Income has decreased from Rs. 1133 cr for the quarter ended December 31, 2015 to Rs. 1011 cr for the quarter ended December 31, 2016.

Wednesday, February 8, 2017

ITC replaces RIL as second most valued company

ITC has replaced RIL as second most valued company on the Indian bourses. The market cap of ITC as on 07-02-2017 stood at Rs 3.36 lac cr as against RIL's Rs 3.34 lac cr.  TCS is the most valued company with a market cap of Rs 4.42 lac cr.

Nvidia hits all time high, ahead of its q4 results

Nvidia shares touched all time high of $ 120.92 in today's trade. The company's q4 numbers will be out on 9th of this month.  The company is expected to announce revenue around $ 2 billions for the quarter and an EPS  of $ 0.88.

Infosys founders raise corporate governance issue

Founders of Infosys have raised concerns over transparency and corporate governance in the company. They have questioned the compensation package of Chief Executive Officer Vishal Sikka and the severance package to its former chief compliance officer David Kennedy.

The founders, led by N R Narayana Murthy, have asked how the company would achieve the $20-billion target by 2020, as set by Sikka, in an uncertain global environment, said sources. 

Last month, Murthy, Nandan Nilekani and Kris Gopalakrishnan raised their concerns with the board.

Infosys CEO Vishal Sikka has taken home Rs 49 crore salary in 2015-16.

Infosys paid Rs. 5.9 crore severance pay offer to outgoing General Counsel David D Kennedy, in the first week of Jan, 2017. 

The stock will react negatively to this development in today's trade.

D-Mart IPO in March 2017?

Avenue Supermarkets  which operates D-Mart chain stores, is expected to hit the primary market in the month of March, 2017. The company is valued in excess of Rs15,000 cr. Avenue Supermarkets had an average growth of 40% in the last 4 years.

Tuesday, February 7, 2017

Axis Bank to sell 10% stake to Experian Credit Info Company

AXIS Bank has informed the exchanges that the Bank has signed an agreement for sale of 1,40,00,000 equity shares (10% of total outstanding shares) of face value of Rs. 10 per share of Experian Credit Information Company of India Limited ("Experian India" or the “Entity”) at Rs.45.7 per share, resulting in a total cash consideration of Rs. 64.00 crore. 

The above transaction is subject to requisite regulatory approvals, including from Reserve Bank of India.

IDBI Bank reports huge loss in q3

IDBI Bank reported a net loss of Rs. 2,255 crore in the third quarter ended December 31, 2016 as against Rs. 2,184 crore in the year-ago.

Net interest income was down 45 per cent in the reporting quarter at Rs. 850 crore (Rs 1,556 ). Non-interest income too was lower at Rs. 551 crore (Rs 578 crore)

Note ban helped Titan in q3

Demonetization has actually helped Titan. The company has posted a net profit of Rs. 256 cr for the quarter ended December 31, 2016 as compared to Rs. 226 cr for the quarter ended December 31, 2015. During the quarter under review, demonetization days accounted for more than 55 days, where demand was sluggish for most the companies.

The total income has increased from Rs. 3448 cr for the quarter ended December 31, 2015 to Rs. 3938 cr for the quarter ended December 31, 2016.

S H Hanke criticises demonetization

Renowned applied economist Steve H Hanke has says that demonetisation is for 'losers' and even Prime Minister Narendra Modi does not know where the country is heading now.

Demonetisation is for losers and has been bungled from the start. No one, not even Modi, knows where India is heading.

A Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute in Washington, Hanke had earlier said that "India simply does not have the infrastructure to adapt to Modi's demonetisation...He should have known."

Stellar show by Tata Steel in q3

Tata Steel has posted a net profit of Rs. 232 cr (consolidated) for the quarter ended December 31, 2016 as compared to net loss of Rs. (2747 cr) for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 25865 cr for the quarter ended December 31, 2015 to Rs. 29522 cr for the quarter ended December 31, 2016.

Tata Steel stock closed flat at Rs 473 in today's trading. Results were announced after trading hours. The stock will react positively to the q3 numbers in tomorrow's trading. 

Marc Faber on India's growth

Marc Faber, a renowned global investor and author of The Gloom, Boom & Doom report  says that India's spend on infrastructure remains insufficient. For the next 10 years, investors will be better off in emerging markets than in the US, he says. 

Despite global headwinds the Indian economy is performing relatively well. 

PNB posts Rs 207 cr net in q3

PNB has posted a net profit of Rs. 207 cr for the quarter ended December 31, 2016 as compared to Rs. 51cr for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 13891 cr for the quarter ended December 31, 2015 to Rs. 14497 cr. for the quarter ended December 31, 2016.

Jubilant food falls on subdued q3 numbers

Jubilant has posted a net profit of Rs. 20 cr for the quarter ended December 31, 2016 as compared to Rs. 29 cr  for the quarter ended December 31, 2015. 

Total Income has increased from Rs. 636 cr for the quarter ended December 31, 2015 to Rs. 662 cr for the quarter ended December 31, 2016.

The stock last Rs 10 as of now and trading around Rs 996.

Dr Reddy's numbers disappoints, stock down 2 percent

Dr Reddy’s  has reported a consolidated net profit of Rs 470 crore in the December quarter, registering a 19% decline from Rs 579 crore in the same period a year ago.

The company’s revenues for the quarter under review were down 7% to Rs 3,706.5 crore from Rs 3,967.9 crore in the corresponding quarter previous year.

The stock slipped  around 2%  and closed at Rs 3090.

Monday, February 6, 2017

Modi and SCAM : It is the same BJP which supported BSP in 1995

Modi says get rid of SCAM. SCAM stands for - Samajwadi, Congress And Mayawati. Modi has forgotten it is the same BJP which supported BSP in 1995 to form government in Uttar Pradesh. What is the logic. If one is with the BJP he is not corrupt or scamster, if otherwise he is corrupt or a scamster. 

Nvidia launches Quadro GP100

Nvidia has launched Quadro GP 100. Based on NVIDIA’s GP100 GPU, Quadro GP100 defies a simple explanation due in large part to GP100’s unique place in NVIDIA’s Pascal GPU family. 

Quadro GP100 on one hand a return to form for NVIDIA’s Quadro lineup. It’s the jack of all trades card that does everything – graphics and compute – including features that the Tesla cards don’t offer, a job previously fulfilled by cards like the Quadro K6000. On the other hand, it’s not necessarily NVIDIA’s most powerful workstation card: on paper it's FP32/graphics performance is lower than Quadro P6000’s. 

Nvidia is confident that Quadro GP100 will sell well to compute users. The Tesla P100 cards have been a hit with neural network programmers, and now researchers have a card suitable for dropping into a workstation to develop against.

 The other market for the Quadro GP100 is the traditional high-end CAD/CAE market. For those more specialized users who need a workstation card with fast FP64 performance and ECC memory for maximum accuracy and reliability, the Quadro GP100 is the first Quadro card since the K6000 to offer that functionality. 

Sunday, February 5, 2017 on firstchoiceipo is a medium-sized website. It is bigger than 64% of all other websites in the world.

There are over 1 billion websites on the world wide web, as on date. 

As per Alexa - firstchoiceipo ranking stands at 18, 55, 252, globally. In India its rank is within 90,000.

The top 10 sites on the web
(source- Alexa)

Snap IPO: Pricing matters most for the success of the offer

Snap, the camera company, is planning to go public in March 2017.  Snap had an active users  base of 158 million at the end of December, up 48 percent year-on-year.

In 2016, Snap started selling 'Spectacles' a line of camera-equipped sunglasses that help funnel even more user content onto the platform. Snap also created Discover, allowing media companies to post content onto their own channels on the service.

Financials :
Snap reported growing revenues and increasing losses. Snap recorded $404.5 million in revenue in 2016, compared with $58.7 million in 2015. Net losses grew to $514.6 million in 2016, compared with a net loss of $372.9 million in 2015. Like many burgeoning tech startups, Snap warned that it “may never achieve or maintain profitability.”
Snap recorded a loss from operations of $520.4 million in 2016 and a loss of $381.7 million in 2015. Its global average revenue per user for the three months ended in December 2016 was $1.06, up from 31 cents in the year-earlier period.

FB priced its IPO shares at $ 38 a piece, within weeks, the stock came below $ 20. IPO investors burnt their fingers badly. The stock recovered on the company's improved financials in the subsequent quarters.

Snap is yet to report profits. To make the IPO attractive, it has to price its shares reasonably and leave something on the table for IPO investors and avoid the mistake done by Facebook.

Saturday, February 4, 2017

HDFC to raise Rs 35000cr through NCD

HDFC is proposing to raise Rs 35,000 crore through NCDs to fund business expansion.

The board has accorded the necessary approval in this respect.

Facebook celebrates Happy friends day

Happy Friends Day, On Facebook's 13th birthday, we're celebrating friendships. From all of us at Facebook, thanks for being here and connecting with the people who matter to you.

Friday, February 3, 2017

BSE debuts at 42% plus premium

BSE as against the IPO price of Rs 806 has opened at Rs 1185, up 42%. 

Coming soon : hire and fire policy

The government is thinking of changing the labour laws that will enable establishments employing up to 300 workers to lay off employees without government approval.  The move is to simplify, rationalise and amalgamate the 44 central labour laws into 4 codes — wages, industrial relations, social security & welfare and safety & working conditions. 

Currently, this is permitted for establishments with up to 100 workers. 

BSE market cap at all time high

The market capitalisation of BSE  stood at 114.97 cr as on 02--02-2017,  an all time high. Earlier it had hit an all-time high was on October 24, 2016, when the market capitalisation reached Rs 114.46 lakh crore.

H-1B visa blues : Indian tech team to meet Trump on 20th Feb

Indian IT sector leaders  are scheduled to meet president Trump on 20th Feb, according to sources. They will discuss the major changes to visa regulations that could hurt the country's $150 billion industry. R Chandrashekhar, head of Indian IT industry body Nasscom, will lead the team.

Thursday, February 2, 2017

Trump admn has no plans to come out with executive order on H-1B visa

 Trump administration has no plans to come out with an executive order on H-1B visas , a prominent Indian-American donor and supporter of the US President claimed. 

There will be a need of more H-1B visas. The number of people on H-1B from India is certainly going to increase," Chicago-based Shalabh 'Shalli' Kumar , head of the Republican Hindu Coalition, told reporters at a news conference.

Responding to a volley of questions, Kumar claimed that contrary to the reports in the media, there is no executive order being worked upon by the White House on H-1B visa.

For the American economy to grow, IT would have to play an important role.

As such I visualise need of more IT workers in the US, he says, adding that the US has huge shortage of IT workers which can be filled up only by Indian IT professionals.

Tech stocks to come back in today's trade

Tech stocks were subdued in the last 3-4 trading sessions due to Trump effect. These  stocks have bottomed out and are likely to trade in positive zone in today's trade. Buy tech stocks at CMP and hold for 3-6 months. 

Facebook's revenue, net soar

Social networking giant's revenues soared by 51% for Dec quarter.Total revenue rose to $8.81 billion from $5.84 billion.

Net income rose to $3.56 billion, or $1.21 per share, from $1.56 billion. 

 The world’s largest social network continues to benefit from its aggressive push into mobiles and video. Mobile ad revenue accounted for 84 percent of company’s total advertising revenue.

Facebook stock closed at $ 133.23, up 3%on NYSE, in today's trading.

RBI says 'Bitcoins' unauthorised

RBI says it has not authorised dealings in or use of virtual currencies, and cautioned those investing in the instruments like Bitcoins.

The Reserve Bank advises that it has not given any licence/authorisation to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader etc. dealing with virtual currencies will be doing so at their own risk,  says the central bank.

The apex bank also drew attention of earler notification cautioning the investors against the same.

BSE IPO shares to list on 03-02-2017

BSE IPO shares will be listed on the exchanges on 03-02-2017.

Wednesday, February 1, 2017

2017 Budget highlights

 Union Budget 2017 - Highlights : 10 key focus areas: Farmers, rural economy, energising youth, poor and underprivileged, infrastructure, financial sector, digital economy, public service, prudent fiscal management, tax administration

Personal income tax: 

Tax rate halved to 5 per cent from 10 per cent for those earning between Rs 5.5-5 lakh; All other income brackets to get uniform benefit of Rs 12,500 per assessee; 10% additional surcahrge on Rs 50 lakh-1 crore income levels; Long-term capital gains tax holding period fo housing reduced to two years from three years

Black money/NPA: 

No cash transactions above Rs 3 lakh; Govt to seize assets of defaulters fleeing country

Political funding: 

Cash donations capped at Rs 2,000; anything above that to be in cheque/via digital mode; amendment to RBI Act for issuance of electoral bonds; all parties required to file returns within specified time

Corporation Tax: 

MAT to stay, but carry-forward period extended to 15 years from 10 years; Tax rate for companies with sub-Rs 50 crore revenue reduced to 25 per cent from 30 per cent.

Digital economy: 

2 new schemes to promote BHIM app including cashback scheme for merchants; Aadhar payment option for those who don’t have mobile phones; Focus on rural and semi-urban areas; govt plans to expand financial inclusion fund

Rural economy: 

Irrigation fund hiked to Rs 40,000 crore; Well on our way to achieving 100 per cent rural electrification by May 1, 2018, says FM; Target for farm credit fixed at Rs 10 lakh crore;  To bring 10 million households out of poverty and and make 50,000 gram panchayats poverty-free; Dedicated micro irrigation fund set up by Nabard to have initial corpus of Rs 5,000 crore; Ten million pucca homes for the poor during next financial year; Total allocation for Rural, Agricultural & Allied sectors for 2017-18 is a record 1,87,223 crore up 24 per cent from last year; MGNREGA allocation hiked to Rs 48,000 crore from Rs 38,500 crore;

Financial sector: 

FIPB to be scrapped; Panel to study legal framework for spot and derivative market in commodities; creation of integrated public sector oil major; Pradhan Mantri Mudra Yojana: Lending target at Rs 2.44 lakh crore


Capex and development expenditure of railways at Rs 1,31,000 crore; 3,500 km rail lines to be commissioned; dedicated pilgrimage trains to be launched; 500 stations to be made differently-abled friendly; Bio-toilets in all coaches by 2019; no more service charge for IRCTC bookings; new metro rail policy on the cards; Railways to implement end-to-end connectivity for some commodities with the help of logistics firms


Rs 64,000 crore allocated for national highways; amendments to AAI Act to enable monetisation of land resources; Rs 2 lakh crore for transport sector; Bharat Net allocation set at Rs 10,000 crore; total infra allocation at Rs 3.96 lakh crore

Poor and underprivileged classes: 

Affordable housing to get infra status; Allocation hiked to Rs 1,84,000 crore for schemes women and children; plan to eradicate leprosy by 2018, TB by 2025; Allocation to scheduled castes hiked to Rs 52,393 crore, scheduled tribes to Rs 31,920 crore

Youth energisation:

Innovation fund for secondary education; UGC reforms -- Colleges to be identified based on ranking and given autonomy; Rs 4,000 cr set aside for skill acquisition

Apple posts highest ever revenue in dec quarter

Apple has posted a revenu  of  $78.4 billion in the Dec quarter, an all-time record,  as compared with $75.9 billion in the same period a year earlier. Profits for the quarter stood at $17.9 billion.

Apple sold 78.3 million iPhones in the quarter, up five percent. 

Apple stock, in the after hour trade quoting at $124.