07TH FEB 2018
Husains
MARKET WRAP The Sensex recovered more than half of losses, before closing down 561.22 points or 1.61 percent at 34,195.94 while the Nifty ended tad below 10,500 amid global rout. The 50-share NSE index fell 168.20 points or 1.58 percent to close at 10,498.30. Lupin and Tata Motors were biggest losers among Nifty 50 stocks, falling more than 5 percent post weak earnings.NBFCs rebounded in late trade, with the Bajaj Finance rising nearly 4 percent. The market recovered sharply from day's low, led by private banks like ICICI Bank (up 2 percent) and Axis Bank (up 1.4 percent). Bajaj Finance, Eicher Motors, ICICI Bank, Indiabulls Housing and Tata Steel trade in the green.
BROAD MARKET INDICES INDEX
P. Close
OPEN
HIGH
LOW
NIFTY 50
10687.05
10295.15
10594.15
10276.30
10498.25
-1.58
NIFTY NEXT 50
29559.05
28366.80
29288.45
28171.00
29138.85
-1.42
NIFTY MIDCAP 50
5084.20
4831.00
5074.15
4787.90
5009.40
-1.47
NIFTY100 LIQ15
4519.25
4327.40
4533.40
4307.55
4464.90
-1.20
Contact No. +91-903-977-7700
CURRENT %CHANGE
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ASIAN INDEX INDEX
OPEN
HIGH
LOW
CLOSE
%CHANGE
NIKKEI 225
22267.00
22277.45
21078.71
21610.24
-4.96
HANG SENG
31028.68
31286.03
30577.83
30595.42
-5.39
TAIWAN
10761.01
10761.01
10300.40
10404.00
-5.21
SSE
3418.01
3440.12
3364.22
3369.71
-3.50
INDIAN MAJOR SECTORAL INDICES INDEX
P. Close
OPEN
HIGH
LOW
NIFTY BANK
26098.75
25140.10
26140.60
25023.85
25811.30
-1.10
NIFTY FIN SERVICE
10685.15
10302.45
10698.60
10267.75
10572.50
-1.05
NIFTY IT
12936.90
12516.20
12750.70
12490.75
12562.35
-2.90
NIFTY PHARMA
9069.50
8773.10
8962.75
8729.10
8871.25
-2.19
Contact No. +91-903-977-7700
CURRENT %CHANGE
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STOCK UPDATE PNB Q3 misses estimates, profit rises 11%; loan growth at 17%, asset quality improves Punjab National Bank's third quarter (October-December) earnings missed analyst expectations on Tuesday, but asset quality improved sequentially. Profit growth of 11 percent at Rs 230.11 crore and net interest income growth of 7 percent at Rs 3,989 crore year-on-year were below poll of Rs 558.1 crore and Rs 4,122.9 crore, respectively. Profit growth, which was largely driven by other income & operating income, was capped by higher provisions. The public sector lender has reported loan growth at 17 percent compared to year-ago. The bank showed a good improvement on asset quality front as gross non-performing assets were lower at 12.11 percent compared to 13.31 percent in previous quarter. Net NPAs were also lower at 7.55 percent from 8.44 percent on sequential basis. In absolute terms, gross NPAs were down by 0.2 percent sequentially at Rs 57,519.4 crore and net NPAs fell by 1.4 percent to Rs 34,075.7 crore for quarter ended December 2017.But provisions for bad loans remained at elevated levels, surging 80 percent quarter-on-quarter and 74 percent year-on-year to Rs 4,466.7 crore in Q3. Provision coverage ratio at 60.78 percent in Q3 improved from 59.20 percent in previous quarter.PNB said the bank has provided Rs 854 crore out of Rs 1,112 crore for accounts under RBI's first list and Rs 75 crore out of Rs 875 crore for accounts under RBI's second list. Other income or non-interest income grew by 44 percent year-on-year to Rs 3,082.02 crore and operating profit increased 53 percent to Rs 4,245.19 crore in Q3. Meanwhile, the state-run lender informed exchanges that board of the directors today accorded approval for capital infusion by Government of India upto Rs 5,473 crore. Contact No. +91-903-977-7700
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STOCK UPDATE Bharat Forge sets up electric vehicle R&D center in UK The Pune-based forging major Bharat Forge has inaugurated a research and development centre in the UK which will be developing components and sub-systems for electric vehicles. This facility, which is based in the MIRA Technology Park, will complement the capabilities and knowledge established over the past two years in Kalyani Centre for Technology and Innovation & Kalyani Centre for Manufacturing Innovation in Pune focused on delivering solutions for electric vehicles. Amit Kalyani, executive director, Bharat Forge said, “Several large global OEMs and Tier 1 companies are already present at MIRA Technology Park for development and testing of vehicles and systems in the EV space. The infrastructure and knowledge available would only help hasten the development for BFL and reduce out time to entry in this very important market space�. The electric mobility research and development centre will be able to tap into the extensive testing facilities at MIRA Technology Park as well as the pool of engineering talents in the Midlands.
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