Trend today report

02/11/2015

The market ended on a lower note for fifth consecutive day. The Sensex plunged 181.31 points or -0.68 percent at 26656.83 and the Nifty was down 45.95 points or -0.57 percent at 8065.80.

Pushing for investments and growth, government reviewed the capital expenditure programme of state-owned companies and impressed upon them to complete projects in the remaining part of the fiscal.

NIFTY

8111.75

8123.55

8146.10

8044.40

8065.80

-0.57%

NIFTY JUNIOR

19774.55

19782.80

19908.35

19701.75

19733.60

-0.06%

LIX 15

3157.65

3165.00

3179.80

3139.55

3146.30

-0.36%

MIDCAP 50

3327.45

3337.20

3357.05

3291.90

3307.30

-0.61%

NIKKEI 225

18924.31

19202.34

18784.69

19083.10

0.77%

HANG SENG

22785.86

22847.16

22612.56

22640.04

-0.79%

TAIWAN

8578.25

8586.90

8503.69

8554.31

-0.20%

SSE

3380.28

3417.20

3346.59

3382.92

-0.13%

CNX Bank

17212.20

17249.90

17399.10

17170.35

17354.50

0.83%

CNX Finance

7162.50

7173.30

7224.95

7134.45

7201.65

0.55%

CNX IT

11548.15

11549.75

11559.35

11467.90

11486.90

-0.532%

CNX Pharma

13052.00

13124.30

13241.80

13085.45

13170.15

0.91%

L&T Q2 net up 15%; cuts FY16 order inflow, revenue guidance Engineering and construction major Larsen and Toubro 's (L&T) consolidated profit after tax increased 15.5 percent year-on-year to Rs 996 crore in July-September quarter, boosted by exceptional income of Rs 309.6 crore. Revenue grew by 10.6 percent to Rs 23,393 crore from Rs 21,159 crore in same period.

Numbers were more or less below estimates for the quarter but the most disappointing factor that led sharp fall in stock was its cut in revenue as well as order inflow guidance for FY16. The stock closed at Rs 1,411.15 today, down 4.11 percent amid high volumes after hitting a 52-week low of Rs 1,400 on BSE. profit was estimated at Rs 944 crore and revenue of Rs 23,409 crore for the quarter with operating profit growth of 14 percent and margin expansion of 40 basis points.

Consolidated operating profit increased 11 percent to Rs 2,592 crore and margin expanded by 7 basis points to 11.1 percent compared to year-ago period.

The company says exceptional income was related to gains on divestment of part stake in a subsidiary company and stake in an associate company.

While addressing press conference, L&T's Chief Financial Officer, R Shankar Raman says the company has slashed its order inflow guidance for FY16 to 5-7 percent from 15 percent earlier and revenue growth guidance to 12.5 percent from 15 percent earlier.

ICICI Bank Q2 profit rises 12%, to sell 9% stake in Lombard Private sector lender ICICI Bank 's July-September quarter earnings matched analysts’ expectations on Friday with standalone profit rising 11.8 percent year-on-year to Rs 3,030 crore, aided by revenue, other income and operating profit.

The stock rallied 2 percent at close due to insurance stake sale news, ignoring asset quality concerns.

Net interest income (the difference between interest earned and interest expended) increased 12.8 percent year-on-year to Rs 5,252 crore during the quarter with net interest margin net interest margin at 3.52 percent (against 3.54 percent in preceding quarter and 3.42 percent in year-ago period).

NII was boosted by loan book, especially retail business. The year-on-year growth in domestic advances was 17 percent and 13 percent in total advances, the country's largest private sector lender says, adding it continued to see robust growth in retail business resulting in a Y-o-Y growth of 25 percent in retail portfolio that constituted about 44 percent of loan portfolio.

Profit was estimated at Rs 3,009 crore and net interest income of Rs 5,273 crore for the quarter.

Deposits increased by 9 percent on yearly basis and CASA deposits (current and saving accounts) were up 13 percent. It says CASA ratio was at 45.1 percent during the quarter compared to 44.1 percent in preceding quarter and 43.7 percent in year-ago period.

Other income (non-interest income) during the quarter climbed 9.8 percent to Rs 3,007.4 crore (including fee income of Rs 2,235 crore) and operating profit also jumped 9.8 percent to Rs 5,158.4 crore compared to year-ago period.

The information contained here was gathered from sources

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