Sunday, November 4, 2018

UBS : Oil to touch Rs 80 and Rupee 76

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According to UBS, global crude prices will remain at elevated level, the rupee is likely to be under pressure, and may touch the 76 levels against the US currency over the next three months.

 The domestic currency has already crossed the 74 mark owing to continued strengthening of the dollar, lack of foreign flows and higher crude oil prices. 

Assuming global crude prices stay elevated (slightly above USD 80/a barrel), they retain bearish view on the rupee and see it plumbing to 76 over the next three months.
ONGC has reported 34.5 percent sequential growth in second quarter profit to Rs 8,265 crore. Profit in previous quarter stood at Rs 6,144 crore.

Revenue from operations grew by 2.9 percent during the quarter to Rs 27,989 crore compared to Rs 27,213 crore in April-June period.

The stock in Friday's trade closed at Rs 157, up Rs 3.

IMF expresses concern over government interference in RBI functoning

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IMF has says  it is monitoring the reported rift between the RBI and the Center in India, and expressed its opposition to any move that compromises the independence of central banks anywhere in the world.

Liquidity crisis : RBI opens one more window for NBFCs

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RBI has opened one more window for NBFCs to ease liquidity crisis faced by them. Reserve Bank of India has allowed banks to offer partial credit enhancement to bonds issued by some of these firms.

Credit enhancement is a facility through which a company improves its creditworthiness by securing a backing from a higher-rated entities. The decision to allow banks to offer partial credit enhancement to some non-bank financial companies is intended to help these firms refinance their borrowings and tide over a period of tight liquidity and risk aversion.

Banks can provide partial credit enhancement to bonds issued by systemically important non-deposit taking NBFCs and HFCs.

Tenor of bonds eligible for partial credit enhancement shall not be less than 3 years.

Friday, November 2, 2018

Axis Bank posts Rs 790 Cr profit

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Axis Bank for Sept quarter has posted a net profit of Rs 790 Cr, up 83% on YoY basis. The bank had posted a net profit of Rs 432 Cr, a year ago.

 Provisions  had come down by 7%.

NII grew by 15% from Rs 4540 Cr a year ago to Rs 5232 Cr in Sept quarter.

Results were announced after market hours. The stock closed at Rs 617, up Rs 15 in today's trade.

DLF reports Rs 374 Cr net

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DLF Ltd has reported an consolidated net profit at Rs 374 Cr for the September quarter.  The consolidated net profit in the same quarter last fiscal stood at Rs 125 Cr.

Total income rose to Rs 2304 Cr in the July-September quarter of this fiscal from Rs 1751 Cr in the corresponding period of the previous year. 

HDFC bank is the biggest wealth creator

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HDFC Bank has emerged as the biggest Wealth Creator between 2013-18. Its Wealth Created is close to Rs 3.2 lakh crore, according to Motilal Oswal 23rd Annual Wealth Creation Study 2018. 

The study analyses the top 100 wealth creating companies during the period 2013-18. It identifies the Fastest, Biggest and Most Consistent wealth creators. After HDFC Bank, Reliance Industries is emerged as No 2 with Rs 3 lakh crore of Wealth Creator over 2013-18 with stock return at 97% CAGR.

Thursday, November 1, 2018

Fiis turn net buyer in cash market

Fiis, after a very long period have turned net buyers in cash market. They have net bought for Rs 349 Cr, where as Diis have net sold for Rs 509 Cr in the same segment. Fiis are net buyers in Index options, stock options and Stock futures too. Barring negative global cues, Indian stock market is expected to gain one odd percent in tomorrow's trade.

Vedanta reports modest revenue growth, net dips

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Vedanta's revenue rises 5.2 percent to Rs 22,705 crore versus Rs 21,590 crore, in the same quarter last fiscal.

Consolidated profit plunges 39 percent to Rs 1,900 crore versus Rs 2,915 crore.

Lupin's net declines

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Lupin has reported 41 per cent decline in net profit in the second quarter of FY19. Consolidated net profit stood at Rs 268 Cr compared to Rs 453 Cr in the year-ago period.

Revenue growth was flat at Rs 3890 Cr on a y-o-y basis. Other income is at Rs 231 Cr.

Lupin closed at Rs 880 in Wednesday's trading, up Rs 3. 

Adani Power net profit beats street estimates

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Adani Power's consolidated net profit rose by 22 percent  to Rs 387 crore in the quarter ended September 30, 2018.

The company had clocked net profit of Rs 317 crore during the same period a year ago.

Its total income rose to Rs 7,657 crore in the quarter under review from Rs 6,415 crore in July-September of 2017-18 fiscal.

The stock closed at Rs 45.90, up Rs 1.15 in yesterday's trading.

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.