Nifty rebounds but fails to end above 9,800; broader markets shine, up 2%
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Apart from trade destocking in India, another key reason for a drop reported in consumer health care CER growth in the quarter was divestment of its beverage business in Nigeria
2:04 PM
Three NBFC stocks at attractive valuations
NBFCs remain notches ahead of the banks in terms of demonstrating strong growth
NBFCs remain notches ahead of the banks in terms of demonstrating strong growth
When banking channel credit growth remains anaemic, the performance of non-banking finance companies (NBFCs) is noteworthy. NBFCs remain notches ahead of the banks in terms of demonstrating strong growth.
For an investor, while the ‘me-too’ model of pure-play housing finance companies (HFCs) may limit the scope for incremental growth, NBFCs outside of this basket could offer higher returns and diversified growth. From this stand point, stocks such as Capital First, Cholamandalam Investment and Finance and L&T Finance offer uniqueness.
Click for full report
For an investor, while the ‘me-too’ model of pure-play housing finance companies (HFCs) may limit the scope for incremental growth, NBFCs outside of this basket could offer higher returns and diversified growth. From this stand point, stocks such as Capital First, Cholamandalam Investment and Finance and L&T Finance offer uniqueness.
Click for full report
1:45 PM
Britannia targets to boost distribution footprint, market share
Britannia is also looking at driving premiumisation through innovation and attain cost leadership
Britannia is also looking at driving premiumisation through innovation and attain cost leadership
After facing initial GST hiccups, FMCG major Britannia is looking at increasing its distribution footprint and winning market share from local players.
The company, which witnessed de-stocking in trade channels due to migration to GST, said the new tax regime has brought a level playing field.
"Our key strategic focus area is to increase distribution footprint, grow rural and win (market) share from local players," Britannia said in a presentation to the analysts.
Click here for full story
Click here for full story
1:30 PM
Quick Heal falls
Quick Heal Technologies hit 52-week low of Rs 173, down 9% on BSE in intra-day trade after the company’s consolidated net losses more than doubled to Rs 11.3 crore in June quarter (Q1FY18), due to lower operational income. The company provides security software products and solutions had posted loss of Rs 5.47 crore in the same quarter last fiscal.
Quick Heal Technologies hit 52-week low of Rs 173, down 9% on BSE in intra-day trade after the company’s consolidated net losses more than doubled to Rs 11.3 crore in June quarter (Q1FY18), due to lower operational income. The company provides security software products and solutions had posted loss of Rs 5.47 crore in the same quarter last fiscal.
Operational revenue during the quarter under review declined by 36% to Rs 30.32 crore from Rs 47.55 crore in the corresponding quarter of previous fiscal.
1:15 PM
Markets check
At 1:15 pm, the Sensex was trading at 31,480, up 267 points, while the broader Nifty50 was ruling at 9,801, up 90 points.
12:45 PM
Earnings impact
DLF soared 14% to Rs 176 on BSE in intra-day trade after the real estate developer reported a consolidated net profit of Rs 110 crore for the quarter ended June 2017 (Q1FY18). The company had posted profit of Rs 261 crore in the same quarter year quarter. The last year profit exceptional gain of Rs 329 crore, which include one-time profit of Rs 372 crore from DT cinema sales & Rs 43 crore Chennai IT park loss.
DLF soared 14% to Rs 176 on BSE in intra-day trade after the real estate developer reported a consolidated net profit of Rs 110 crore for the quarter ended June 2017 (Q1FY18). The company had posted profit of Rs 261 crore in the same quarter year quarter. The last year profit exceptional gain of Rs 329 crore, which include one-time profit of Rs 372 crore from DT cinema sales & Rs 43 crore Chennai IT park loss.
12:27 PM
July WPI doubles to 1.8%
Wholesale Price Index in July rose 1.8% from a year earlier, after easing for four months, government data showed on Monday.
The rise compares with a 1.3% increase forecast by economists in a Reuters poll and a provisional 0.9% rise in June - the slowest pace since July 2016. Wholesale food prices in July rose 2.12% on year, compared with a 1.25% fall a month earlier, the data showed.
11:59 AM
Cipla top index gainer
Cipla surged 6% to Rs 575 on BSE after the company recorded EBITDA (earnings before interest, taxation, depreciation and amortization) margin expansion rose 160 bps to 18.3% in June quarter (Q1FY18), driven by strong focus on enhancing operational efficiency and control on spends. The stock was the top gainers on Sensex and Nifty. READ MORE
Cipla surged 6% to Rs 575 on BSE after the company recorded EBITDA (earnings before interest, taxation, depreciation and amortization) margin expansion rose 160 bps to 18.3% in June quarter (Q1FY18), driven by strong focus on enhancing operational efficiency and control on spends. The stock was the top gainers on Sensex and Nifty. READ MORE
11:30 AM
Buzzing stock
11:05 AM
Markets check
At 11:00 am, the Sensex was trading at 31,433, up 219 points, while the broader Nifty50 was ruling at 9,782, up 71 points.
10:43 AM
Buzzing stocks
Shares of Parsvnath Developers, Kavit Industries, Pincon Spirit and Signet Industries are locked in their respective lower circuits as trading resumed in these stocks after a gap of one week. Besides these four, Kalpana Industries and SQS India too plunged 20% in early morning trade on the BSE. CLICK HERE FOR FULL REPORT
Shares of Parsvnath Developers, Kavit Industries, Pincon Spirit and Signet Industries are locked in their respective lower circuits as trading resumed in these stocks after a gap of one week. Besides these four, Kalpana Industries and SQS India too plunged 20% in early morning trade on the BSE. CLICK HERE FOR FULL REPORT
10:32 AM
Edelweiss Securities on Sun Pharma
We envisage Sun TV to be beneficiary of Phase III & IV digitisation. Digitisation in Tamil Nadu is a key stock catalyst. Though the stock corrected 17.7% in past 2 months due to dip in Sun TV’s market share owing to intense competition from Star Vijay (has expanded market with non-fiction content), we believe this is temporary as Sun TV’s viewership is intact. At CMP, the stock trades at 23.1x FY18E and 20.7x FY19E EPS. We maintain ’BUY/SO’ with TP of Rs 1,024 (30x FY19E).
10:13 AM
Sectoral trend
Nifty PSU Bank sole sectoral loser, down 0.2%.
Nifty PSU Bank sole sectoral loser, down 0.2%.
Source: NSE
9:51 AM
Earnings impact
SpiceJet added over 4% to Rs 120 after the airline recorded a profit of Rs 175.23 crore in the quarter ended June — a jump of 18% from Rs 149.03 crore in the corresponding period last year. The airline attributed it to a healthy passenger load and stronger yield. Average fare for the airline increased by nine per cent to Rs 3,943 from Rs 3,601 during the same period last year.
SpiceJet added over 4% to Rs 120 after the airline recorded a profit of Rs 175.23 crore in the quarter ended June — a jump of 18% from Rs 149.03 crore in the corresponding period last year. The airline attributed it to a healthy passenger load and stronger yield. Average fare for the airline increased by nine per cent to Rs 3,943 from Rs 3,601 during the same period last year.
9:26 AM
Earnings impact
Sun Pharmaceutical slipped over 3% to Rs 433 after the drug major reported a consolidated net loss of Rs 425 crore for the quarter ended June 30, mainly due to one-time exceptional item. The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago. CLICK HERE FOR DETAILED EARNINGS
Sun Pharmaceutical slipped over 3% to Rs 433 after the drug major reported a consolidated net loss of Rs 425 crore for the quarter ended June 30, mainly due to one-time exceptional item. The company had posted a net profit after taxes, share of profit/loss of associates, joint ventures and non-controlling interests of Rs 2,033.71 crore for the same period a year ago. CLICK HERE FOR DETAILED EARNINGS
9:22 AM
Top Sensex gainers and losers
Source: BSE
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First Published: Aug 14 2017 | 3:31 PM IST
