Monday, November 5, 2018

Forthcoming IPO : Penna Cement Industries Limited

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Issue Details:

Issue size
Rs 1300 Cr
Face Value
Rs 10
P Prathap Reddy, Pioneer Builders and P R Cement Holdings Limited
Mfrs of cement
Bse, Nse
Edelweiss, IIFL Holdings, JM Financials, Yes Securities

Sunday, November 4, 2018

RBI to set up PCR

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Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including willful defaulters and also the pending legal suits in order to check financial delinquencies.

The PCR will also include data from entities like market regulator SEBI, the corporate affairs ministry, Goods and Service Tax Network  and the Insolvency and Bankruptcy Board of India to enable the banks and financial institutions to get 360-degree profile of existing and prospective borrowers on a real-time basis.

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.