TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES ) NIFTY FIFTY : - Nifty futures and bank nifty future market closed at 10362/ 25667.according to technical analysis if nifty futures and bank nifty future moves up-word in upcoming treading sessions then 10400/ 25700 will be next resistance level, if it break this level then nifty futures and bank nifty future can touch 10530 / 26000 level . it will be hard resistance. meanwhile in reveres there is support on 10250/ 25200 for nifty futures and bank nifty future after breaking this support with volume there is big support for nifty futures and bank nifty future on 10000/24500
Monday, 13 Nov 2017
TECHNICAL VIEW (NIFTY- BANK NIFTY FUTURES )
NIFTY DAILY
R2 10645
WEEKLY
MONTHLY
R1 10451
PP
S1
S2
10355
10258
10064
R2
R1
PP
S1
S2
10872
10587
10444
10300
10014
R2
R1
PP
S1
S2
11904
10770
10204
9638
R2
R1
PP
S1
S2
26034
25560
25384
25167
24733
R2
R1
PP
S1
S2
27690
26185
25432
24678
23171
R2
R1
PP
S1
S2
28452
25947
24695
23442
20936
8504
BANK NIFTY DAILY
WEEKLY
MONTHLY
MOVING AVERAGE 21 DAYS
50 DAYS
100 DAYS 200 DAYS
NIFTY
10320
10125
9980
9574
BANK NIFTY
24965
24657
24385
23003
PARABOLIC SAR
DAILY WEEKLY MONTHLY
NIFTY
9925
8983
7616
BANK NIFTY
24124
20820
16022
PATTERN FORMATION ( NIFTY )
Details of Chart -Last week nifty future open at 10452 and made high of 10530 and low of 10284 moves down sid almost 200 point showing its bearish trend next support for nifty is 10250 if nifty can break this level than it shows further downward direction. although sma 21 days shows it’s upside movement if nifty can sustain level of 10300 then it again touch the level of 10530.
PATTERN FORMATION ( BANK NIFTY )
Detail of Chart -Last week bank nifty future open at 25556 and made high of 25715 and low of 25237 moves down sid almost 500 point showing its bearish trend next support for banknifty is 25200 if bank niftty can break this level than it shows further downward direction. although, sma 21 days shows it upside movement if banknifty can sustain level of 25500 ,then it again can go upto the level of 26000
NSE EQUITY DAILY LEVELS COMPANY
R3
R2
R1
PP
S1
S2
S3
ADANIPORTS NAME AMBUJACEM ASIANPAINT
EQ EQ EQ
449. 281.85 1249.75
440.45 276.35 1214.85
436.10 273.20 1199.90
431.10 270.85 1179.95
426.75 267.70 1165.00
421.75 265.35 1145.05
412.40 259.85 1110.15
AUROPHARMA AXISBANK BAJAJ-AUTO BAJFINANCE BHARTIARTL BOSCHLTD BPCL CIPLA COALINDIA DRREDDY EICHERMOT GAIL HCLTECH HDFC HDFCBANK HEROMOTOC HINDALCO O HINDPETRO HINDUNILVR IBULHSGFIN ICICIBANK INDUSINDBK INFRATEL INFY IOC ITC KOTAKBANK LT LUPIN M&M MARUTI NTPC ONGC POWERGRID RELIANCE SBIN SUNPHARMA TATAMOTORS TATASTEEL TCS TECHM ULTRACEMCO UPL VEDL WIPRO YESBANK ZEEL
EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ EQ
907.35 575.90 3427.90 1822.85 534.20 22528.10 528.95 646.85 302.60 2433.45 31734.55 483.70 907.30 1768.60 1868.60 3757.75 276.90 463.50 1388.40 1265.40 344.15 1707.60 448.85 988.00 406.00 273.85 1033.80 1370.60 867.10 1514.70 8429.20 183.00 199.35 220.80 931.85 385.25 549.20 464.75 728.65 2775.10 519.25 4738.75 772.50 341.90 313.15 321.10 633.75
833.15 559.40 3334.35 1784.95 519.05 21604.70 520.70 629.00 293.15 2393.55 31169.80 470.20 889.05 1739.75 1846.15 3683.50 270.65 442.95 1333.45 1245.55 331.00 1684.95 437.95 973.65 399.80 268.05 1015.05 1312.65 851.80 1449.75 8305.35 180.15 195.05 215.30 910.10 356.25 538.75 445.80 715.65 2742.45 505.35 4587.85 755.00 332.55 307.40 313.20 580.95
788.10 553.35 3300.15 1763.00 511.20 21107.60 516.85 618.65 289.40 2367.30 30839.90 463.20 878.90 1724.65 1835.05 3657.75 268.00 429.95 1312.70 1235.65 324.65 1673.95 432.40 968.60 396.70 265.10 1002.60 1292.40 842.40 1422.40 8251.95 179.05 193.15 213.10 897.50 345.00 532.85 433.70 709.60 2726.25 499.05 4533.90 744.00 328.40 305.05 308.60 562.40
758.95 542.90 3240.80 1747.05 503.90 20681.30 512.45 611.15 283.70 2353.65 30605.05 456.70 870.80 1710.90 1823.70 3609.25 264.40 422.40 1278.50 1225.70 317.85 1662.30 427.05 959.30 393.60 262.25 996.30 1254.70 836.50 1384.80 8181.50 177.30 190.75 209.80 888.35 327.25 528.30 426.85 702.65 2709.80 491.45 4436.95 737.50 323.20 301.65 305.30 528.15
713.90 536.85 3206.60 1725.10 496.05 20184.20 508.60 600.80 279.95 2327.40 30275.15 449.70 860.65 1695.80 1812.60 3583.50 261.75 409.40 1257.75 1215.80 311.50 1651.30 421.50 954.25 390.50 259.30 983.85 1234.45 827.10 1357.45 8128.10 176.20 188.85 207.60 875.75 316.00 522.40 414.75 696.60 2693.60 485.15 4383.00 726.50 319.05 299.30 300.70 509.60
684.75 526.40 3147.25 1709.15 488.75 19757.90 504.20 593.30 274.25 2313.75 30040.30 443.20 852.55 1682.05 1801.25 3535.00 258.15 401.85 1223.55 1205.85 304.70 1639.65 416.15 944.95 387.40 256.45 977.55 1196.75 821.20 1319.85 8057.65 174.45 186.45 204.30 866.60 298.25 517.85 407.90 689.65 2677.15 477.55 4286.05 720.00 313.85 295.90 297.40 475.35
610.55 509.90 3053.70 1671.25 473.60 18834.50 495.95 575.45 264.80 2273.85 29475.55 429.70 834.30 1653.20 1778.80 3460.75 251.90 381.30 1168.60 1186.00 291.55 1617.00 405.25 930.60 381.20 250.65 958.80 1138.80 805.90 1254.90 7933.80 171.60 182.15 198.80 844.85 269.25 507.40 388.95 676.65 2644.50 463.65 4135.15 702.50 304.50 290.15 289.50 422.55
TOP 15 ACHIEVERS SR.NO
SCRIPT NAME
PREV CLOSE
// CMP
% CHANGE
TOP 15 LOOSERS SR.NO
SCRIPT NAME
PREV CLOSE
CMP
% CHANGE
1
Tech Mahindra Ltd.
463.45
491.00
+ 5.94
1
Lupin Ltd.
1,047.70
833.30
-20.46
2
Mahi. & Mahi
1,330.75
1,392.95
+ 4.67
2
Bharti Airtel
541.25
503.45
-6.98
3
Hindustan
1,239.50
1,290.65
+ 4.13
3
YES Bank Ltd.
325.95
304.05
-6.72
4
LTD Infosys
926.65
962.05
+ 3.82
4
Reliance Inds.
945.30
883.85
-6.50
5
Tata Consultancy
2,620.10
2,708.75
+ 3.38
5
Hind. Petrol
445.65
416.85
-6.46
6
Bharti Infratel Ltd.
413.75
426.75
+ 3.14
6
Aurobindo Pharma
787.95
740.10
-6.07
7
Wipro Ltd
294.55
302.65
+ 2.75
7
Tata Motors Ltd.
447.70
422.55
-5.62
8
SBI
325.00
333.55
+ 2.63
8
UPL
775.60
735.10
-5.22
9
L&T
1,235.00
1,264.95
+ 2.43
9
Bajaj Finance L
1,836.95
1,745.00
-5.01
10
HCL Technologies
847.15
867.05
+ 2.35
10
Cipla
640.10
609.30
-4.81
11
UltraTech Cement
4,375.10
4,450.85
+ 1.73
11
Indian Oil Corp
413.25
394.85
-4.45
12
Bajaj Auto Ltd.
3,217.45
3,253.35
+ 1.12
12
Ambuja Cements
282.60
270.10
-4.42
13
Axis Bank Ltd.
540.10
544.80
+ 0.87
13
Ltd. Pharma. Sun
551.25
527.85
-4.24
14
ICICI Bank
315.90
318.50
+ 0.82
14
Vedanta
338.10
323.85
-4.21
15
Zee Entertainment En
538.95
542.75
+ 0.71
15
Bharat Petroleum
533.10
512.10
-3.94
Unilever
AM 204 BUJ A CEM ENT
232
+13.67 %
AMBUJA CEMENT
NEXT WEEK STARS (AS PER TECHNICAL ANALYSIS) NSE FUTURE
NSE FUTURE : BUY SUNTV FUTURE ABOVE 890 TGT 930 SL 886 NSE FUTURE : BUY TATAMOTORS FUTURE ABOVE 444 TGT 454 SL 440
NSE CASH
NSE CASH : BUY GRAPHITE CASH ABOVE 610 TGT 640 SL 585. NSE CASH : BUY CYIENT CASH ABOVE 545 TGT 580 SL 530
NSE - WEEKLY NEWS LETTERS � TOP NEWS OF THE WEEK
M & M LTD Q2FY18 STANDALONE NET PROFIT RISES 24.7% YOY TO RS.1,331 CRORE 1
Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
12182
6.40
EBITDA
1730
45.60
EBITDA MARGIN (%)
14.2
382
NET PROFIT
1331
24.70
Mahindra & Mahindra ltd's Q2FY18 standalone results for the quarter registered a beat on consensus estimates. Revenue for the quarter came in 0.3 % lower than the estimated figure of Rs. 12219 crore. EBITDA for the quarter came in 9.3 % higher than the estimated figure of Rs. 1582 crore. And lastly, net profit for the quarter came in 8.4 % higher than the estimated figure of Rs. 1228 crore. Mahindra & Mahindra ltd consolidated revenue for the quarter came in at Rs. 12182 crore, registering 6.4% yoy increase. This was largely aided by rise in revenue from farm equipment segment by 21% yoy to Rs.3958 crore in Q2FY18. EBITDA for the quarter rose by 45.6% yoy to Rs. 1729.8 crore with a corresponding margin expansion of 382 bps. EBITDA margin for the quarter stood at 14.2%. The PAT for the quarter came in at Rs. 1331 crore, yoy increase of 24.7%. This was due to lower interest expenses by 34% yoy. Moreover, board also recommends 1:1 bonus issue. In Q2FY18 company witnessed good traction in its auto-business. The PV, UV & trucks segment posted 13.4% ,27% & 86% yoy increase respectively. Further, tractors business also saw 37% yoy increase on account of normal monsoon
PFIZER Q2FY18 STANDALONE NET PROFIT RISES 27.3% YOY Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
571.10
2.40
EBITDA
183.20
70.70
EBITDA MARGIN (%)
32.10
1283
NET PROFIT
111.10
27.30
Pfizer ltd standalone revenue for the quarter came in at Rs. 571.1 crore, registering 2.4% yoy increase. EBITDA for the quarter rose by 70.7% yoy to Rs. 183.2 crore with a corresponding margin expansion of 1283 bps. EBITDA margin for the quarter stood at 32.1%. This margin expansion was aided by 39% yoy decline cost of raw materials consumed. The PAT for the quarter came in at Rs. 111.1 crore, yoy increase of 27.3%
STATE BANK Q2FY18 STANDALONE NET PROFIT DECLINES 37% YOY TO RS.1,581 CRORE Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
NII
18586
27
NPA ( %)
9.8
269
PROVISIONS
19137
142
NET PROFIT ( ADJUSTED)
1581
37.70
State bank of India Q2FY18 results missed the street estimates for the quarter. The NII for the quarter was 2.6% below the street estimates of Rs.19088 crore. While net profit for the quarter also was 36% below the street estimates of Rs.2507 crore. The NII for the quarter rose by 27% yoy to Rs.18586 crore in Q2FY18 vs Rs.14600 crore in Q2FY17.This was largely aided by almost 30% increase in interest income & interest expended for the quarter. provisions for the quarter also rose by 142% yoy to Rs.19137 crore in Q2FY18 vs Rs.7896 crore in Q2FY17. Further, bank reported net profit of Rs.1581 crore a yoy decline of Rs.37% yoy.Also, the provisons coverage ratio for the quarter stood at 65.1% In terms of Asset quality GNPA’s as percentage of total advances rose by 269bps to 9.83% vs 7.14% in Q2FY17. The NNPA’s for the quarter also increased by 124 bps to 5.43% in Q2FY18 vs 4.19% in Q2FY17. Advances & deposits for the quarter rose by 26% & 41% yoy to Rs.1802608 crore & 2623179 crore respectively. The bank also reported exceptional gain of Rs.5437 crore on sale of SBI life insurance company ltd.
BOSCH Q2FY18 STANDALONE NET PROFIT DECLINES 16.5% YOY TO RS.353.3 CRORE Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
2811.80
0.90
EBITDA
507.90
3.40
EBITDA MARGIN (%)
18.10
76
NET PROFIT
353.30
16.50
Bosch reported standalone results for the quarter registered a miss versus street estimates. Revenue for the quarter came in 11.1 % lower than the estimated figure of Rs. 3164 crore. EBITDA for the quarter came in 10.7 % lower than the estimated figure of Rs. 569 crore. And lastly, net profit for the quarter came in 14.4 % lower than the estimated figure of Rs. 413 crore. Bosch standalone revenue for the quarter came in at Rs. 2811.8 crore, registering 0.9% yoy decline. This was driven by slow down in its Automotive products business. EBITDA for the quarter rose by 3.4% yoy to Rs. 507.9 crore with a corresponding margin expansion of 76 bps. EBITDA margin for the quarter stood at 18.1%. This margin expansion was aided by 14% decline in its other expenses. The PAT for the quarter came in at Rs. 353.3 crore, yoy decline of 16.5%. This was due to 24.6% increase in its depreciation expense.
AUROBINDO PHARMA Q2FY18 CONSOLIDATED NET PROFIT RISES 29% YOY Consolidated Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
4435.90
17.50
EBITDA
1116.90
20.20
EBITDA MARGIN (%)
25.20
57
NET PROFIT
781.20
29
Aurobindo Pharma's Q2FY18 consolidated results for the quarter registered a beat on street estimates. Revenue for the quarter came in 4.5 % higher than the estimated figure of Rs. 4245 crore. EBITDA for the quarter came in 4 % higher than the estimated figure of Rs. 1074 crore. And lastly, net profit for the quarter came in 12.3 % higher than the estimated figure of Rs. 695.7 crore. Aurobindo Pharma consolidated revenue for the quarter came in at Rs. 4435.9 crore, registering 17.5% yoy increase. EBITDA for the quarter rose by 20.2% yoy to Rs. 1116.9 crore with a corresponding margin expansion of 57 bps. EBITDA margin for the quarter stood at 25.2%. The PAT for the quarter came in at Rs. 781.2 crore, yoy increase of 29%. This was due to decline in effective tax rate to 20% in Q2FY18 vs 27% in corresponding quarter last year. The board of directors has approved an interim dividend of Rs. 1.5 per share for the face value of Rs. 1 each.
SAIL Q2FY18 STANDALONE NET LOSS NARROWS TO RS.538 CRORE YOY Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
13617
8.30
EBITDA
914
730.90
EBITDA MARGIN (%)
6.70
584
NET PROFIT
538
-
SAIL standalone revenue for the quarter came in at Rs. 13617 crore, registering 8.3% yoy increase. This was primarily driven by rise in revenue from IISCO plant by 35% yoy to Rs.1559 crore. EBITDA for the quarter rose by 730.9% yoy to Rs. 914 crore with a corresponding margin expansion of 584 bps. EBITDA margin for the quarter stood at 6.7%. This margin expansion was aided by reduction in inventory by 76% yoy to Rs.351 crore in Q2FY18. The reported loss of the quarter narrows down to Rs.538 crore vs Rs.730 crore in last year corresponding quarter. SAIL has seen 4% growth in H1FY18 with improvement in sales of high value products like cold rolled and galvanized products. Also, sales to railway saw 30% improvement during H1FY18 .
HINDUSTAN PETROLEUM CO. Q2FY18 STANDALONE NET PROFIT RISES 147.4% YOY
Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
54355.80
13.60
EBITDA
2905.60
126.70
EBITDA MARGIN (%)
5.40
267
NET PROFIT
1734.70
147.40
Hindustan Petroleum Corporation Limited reported standalone results for the quarter came in mixed versus street estimates. Revenue for the quarter came in 0.8 % higher than the estimated figure of Rs. 53879 crore. EBITDA for the quarter came in 13.1 % lower than the estimated figure of Rs. 3345 crore. And lastly, net profit for the quarter came in 11.8 % lower than the estimated figure of Rs. 1967 crore. Hindustan Petroleum Corporation Limited standalone revenue for the quarter came in at Rs. 54335.8 crore, registering 13.6% yoy increase. EBITDA for the quarter rose by 126.7% yoy to Rs. 2905.6 crore with a corresponding margin expansion of 267 bps. EBITDA margin for the quarter stood at 5.4%. The PAT for the quarter came in at Rs. 1734.7 crore, yoy increase of 147.4%. This was driven by higher proportion in its revenue growth. Average gross refinery margin during H1FY18 came in at US $ 6.75 per barrel as against US $ 5.12 per barrel for corresponding period of previous year .
TATA MOTORS Q2FY18 NET PROFIT RISES 195% YOY TO RS.2,501 CRORE Consolidated Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
70155
8.50
EBITDA
9008
42.80
EBITDA MARGIN (%)
12.80
308
NET PROFIT
2501
194.90
Tata Motors Ltd's Q2FY18 consolidated results for the quarter registered a beat on street estimates. Revenue for the quarter came in 0.2 % higher than the estimated figure of Rs. 69985 crore. EBITDA for the quarter came in 25.8 % higher than the estimated figure of Rs. 7158 crore. And lastly, net profit for the quarter came in 43.1 % higher than the estimated figure of Rs. 1391 crore. further, for Q2Fy18 company sold 152979 units an increase of 13.8% yoy increase. Tata Motors Ltd consolidated revenue for the quarter came in at Rs. 70155 crore, registering 8.5% yoy increase. This was primarily driven by rise in revenue from Tata m otors vehicles and Jaguar & Land rover by 14% and 7.2% yoy respectively. EBITDA for the quarter rose by 42.8% yoy to Rs. 9008 crore with a corresponding margin expansion of 308 bps. EBITDA margin for the quarter stood at 12.8%. The PAT for the quarter came in at Rs. 2501 crore, yoy increase of 195%.
BAJAJ ELECTRICALS Q2FY18 STANDALONE NET PROFIT RISES 13.7% YOY Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
932
7.40
EBITDA
39.40
12.90
EBITDA MARGIN (%)
4.20
NET PROFIT
18.90
27 13.70
Bajaj Electricals's Q1FY18 standalone results for the quarter registered a miss versus street estimates. Revenue for the quarter came in 14.3% lower than the estimated figure of Rs. 10 88 crore. And lastly, net profit for the quarter came in 5.3% lower than the estimated figure of Rs. 20 crore. Bajaj Electricals standalone revenue for the quarter came in at Rs. 932 crore, registering 7.4% yoy decline. This was primarily driven by decline in both segment i.e. consumer product (down by ~9.2% yoy) and EPC segment, (down 4% yoy) EBITDA for the quarter fell by 12.9% yoy to Rs. 39.4 crore with a corresponding margin contraction of 27 bps. EBITDA margin for the quarter stood at 4.2%. The PAT for the quarter came in at Rs. 18.9 crore, yoy increase of 13.7%. This was due to ~29.7% yoy decline in finance cost and ~37.4% yoy surge in the other income.
PETRONET LNG Q2FY18 STANDALONE NET PROFIT RISES 28.1% YOY Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
7770.20
17.50
EBITDA
898.70
23.70
EBITDA MARGIN (%)
11.60
59
NET PROFIT
588.70
28.10
Petronet LNG consolidated revenue for the quarter came in at Rs. 7770.2 crore, registering 17.5% yoy increase. EBITDA for the quarter rose by 23.7% yoy to Rs. 898.7 crore with a corresponding margin expansion of 59 bps. EBITDA margin for the quarter stood at 11.6%. The PAT for the quarter came in at Rs. 588.7 crore, yoy increase of 28.1%. This was due to 16.2% decline in its finance cost.
SHREE CEMENT Q2FY18 STANDALONE NET PROFIT DECLINES 27.4% YOY Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
2136.80
7.10
EBITDA
560.50
20.10
EBITDA MARGIN (%)
26.20
427
NET PROFIT
211.50
27.40
Shree Cement's Q2FY18 standalone results for the quarter came in mixed versus street estimates. Revenue for the quarter came in 2.7 % lower than the estimated figure of Rs. 2195 crore. EBITDA for the quarter came in 9.9 % higher than the estimated figure of Rs. 510 crore. And lastly, net profit for the quarter came in 27.1 % lower than the estimated figure of Rs. 290 crore. Shree Cement standalone revenue for the quarter came in at Rs. 2136.8 crore, registering 7.1% yoy decline. This was primarily driven by decline in revenue from power and cement by 15.9% yoy and 3.3% yoy. EBITDA for the quarter fell by 20.1% yoy to Rs. 560.5 crore with a corresponding margin contraction of 427 bps. EBITDA margin for the quarter stood at 26.2%. This margin contraction was led by 9% yoy rise in cost of materials and adverse movements in inventories. The PAT for the quarter came in at Rs. 211.5 crore, yoy decline of 27.4%. This was due to 29% yoy rise in interest expenses.
ORIENTAL BANK OF COMMERCE STANDALONE NET LOSS AT RS.1,749 CRORE IN Q2FY18 Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
1252
5
EBITDA
16.30
394
EBITDA MARGIN (%)
3281
323
NET PROFIT
1749
-
The NII for the quarter declined by 5% yoy to Rs.1252 crore in Q2FY18 vs Rs.1316 crore in previous year corresponding quarter. This was largely due to subdued interest income by 5.2% yoy & also decline in interest expended by 5.3% yoy. Asset quality of the bank saw tremendous deterioration as GNPA’s as percentage to total advances grew by 394 bps to 16.3% vs 12.63% in Q2FY17. While NNPA’s also advanced by 51 bps to 9.44% vs 8.93% in Q2FY17. Total GNPA’s for the quarter also rose by 44% yoy to Rs.26431 crore in Q2FY18 vs Rs.18382 crore in previous year corresponding quarter. Provisions for the quarter jumped more than 3 times to Rs.3281 crore in Q2FY18 vs Rs.774 crore in Q2FY17. This resulted into net loss of Rs.1749 crore in Q2FY19 vs net profit of Rs.153 crore in Q2FY17. Further, advances also saw tepid growth of Rs.5% yoy to Rs.149844 crore in Q2FY18 vs Rs.143042 crore in Q2FY17.Capital adequacy also staands poor at CAR basel III of 10.6% vs 13.3% in Q2FY17.
UNITED BREWERIES Q2FY18 STANDALONE NET PROFIT RISES 247% YOY Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
2738
24.50
EBITDA
221.90
83.20
EBITDA MARGIN (%)
8.10
259
NET PROFIT
93.80
247
United Breweries standalone revenue for the quarter came in at Rs. 2738 crore, registering 24.5% yoy increase. EBITDA for the quarter rose by 83.2% yoy to Rs. 221.9 crore with a corresponding margin expansion of 259 bps. EBITDA margin for the quarter stood at 8.1%. The PAT for the quarter came in at Rs. 93.8 crore, yoy increase of 247%. This was due to 10% decline in its finance cost and 7.5% decline in its depreciation expenses.
ASHOK LEYLAND Q2FY18 STANDALONE NET PROFIT RISES 13.5% YOY
Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
6046.80
23.10
EBITDA
611.70
14
EBITDA MARGIN (%)
10.10
80
NET PROFIT
334.20
13.50
Ashok Leyland reported standalone results for the quarter registered a miss versus street estimates. Revenue for the quarter came in 1.8 % lower than the estimated figure of Rs. 6155 crore. EBITDA for the quarter came in 8 % lower than the estimated figure of Rs. 665 crore. And lastly, net profit for the quarter came in 11.6 % lower than the estimated figure of Rs. 378 crore. Ashok Leyland standalone revenue for the quarter came in at Rs. 6046.8 crore, registering 23.1% yoy increase. EBITDA for the quarter rose by 14% yoy to Rs. 611.7 crore with a corresponding margin contraction of 80 bps. EBITDA margin for the quarter stood at 10.1%. This margin contraction was aided by 30.7% increase in its employee expenses. The PAT for the quarter came in at Rs. 334.2 crore, yoy increase of 13.5%.
BHARAT FORGE Q2FY18 STANDALONE NET PROFIT RISES 60.6% YOY
Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
1258
34.40
EBITDA
369
49.20
EBITDA MARGIN (%)
29.40
291
NET PROFIT
203.70
60.60
Bharat Forge's Q2FY18 standalone results for the quarter registered a beat on street estimates. Revenue for the quarter came in 1 % higher than the estimated figure of Rs. 1246 crore. EBITDA for the quarter came in 5 % higher than the estimated figure of Rs. 352 crore. And lastly, net profit for the quarter came in 6.3 % higher than the estimated figure of Rs. 191.7 crore. Bharat Forge standalone revenue for the quarter came in at Rs. 1258 crore, registering 34.4% yoy increase. EBITDA for the quarter rose by 49.2% yoy to Rs. 369 crore with a corresponding margin expansion of 291 bps. EBITDA margin for the quarter stood at 29.4%. The PAT for the quarter came in at Rs. 203.7 crore, yoy increase of 60.6%. The bo ard of directors have declared an interim dividend of Rs.2 per share for the face value of Rs.2 each. The record date for the same is November 18, 2017.
BALRAMPUR CHINI MILLS Q2FY18 STANDALONE NET PROFIT DECLINES 22.3% YOY
Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
1237
32.00
EBITDA
143.70
16.70
EBITDA MARGIN (%)
11.60
679
NET PROFIT
82.39
22.30
Balrampur Chini Mills standalone revenue for the quarter came in at Rs. 1237 crore, registering 32% yoy increase. This was primarily driven by increase in revenue from Cogeneration and Sugar by 42.5% yoy and 39% yoy, respectively. EBITDA for the quarter fell by 16.7% yoy to Rs. 143.7 crore with a corresponding margin contraction of 679 bps. EBITDA margin for the quarter stood at 11.6%. This margin contraction was led by 59% yoy rise in inventories. The PAT for the quarter came in at Rs. 82.39 crore, yoy decline of 22.3%. This was partly due to 6.4% yoy rise in interest expenses.
BHARAT HEAVY ELECTRICALS Q2FY18 STANDALONE NET PROFIT RISES 5.9% YOY
Standalone Results Q2FY18: (Rs. in crore) Q2FY18
YOY( %)
REVENUE
6297
8.70
EBITDA
95.40
-
EBITDA MARGIN (%)
-
-
NET PROFIT
115.42
5.90
Bharat Heavy Electricals Limited reported standalone results for the quarter registered a miss versus street estimates. Revenue for the quarter came in 8 % lower than the estimated figure of Rs. 6841 crore. EBITDA for the quarter came in 134 % lower than the estimated figure of Rs. 281 crore. And lastly, net profit for the quarter came in 56.9 % lower than the estimated figure of Rs. 268 crore.Bharat Heavy Electricals Limited standalone revenue for the quarter came in at Rs. 6 297 crore, registering 8.7% yoy decline. This was primarily driven by 3.6% decline in its power business and 27.7% decline in its industry business.Operating loss for the quarter stood at Rs. 95.40 crore vs operating profit of Rs. 155.14 crore in corresponding quarter last year. This was led by 81.7% increase in its other expenses.The PAT for the quarter came in at Rs. 115.42 crore, yoy increase of 5.9%. This was due to 147% increase in its other income to Rs. 485 crore.
EUROPEAN INDICES UP LED BY GAINS IN INSURANCE, MINING COS - European indices were marginally up led by mining and insurance companies shares. The pan-European Stoxx 600 edged up around 0.1% during early morning deals, with most sectors and major bourses in positive territory. Shares of insurance companies edged higher as Allianz SE reported better-than-expected Jul-Sep earnings. Shares of aerospace company Leonardo fell 16% after the state-controlled Italian aerospace and defense company cut its 2017 earnings targets. ArcelorMittal posted stronger-than-anticipated core profit in the three months through September and said it was upbeat about 2018. Shares surged to the top of the benchmark, up more than 3.5%. Burberry slipped again Friday, compounding losses from the previous session as it fell 3%.
MRF- Shares of MRF gained over 3% after Q2 FY18 numbers. The PAT for the quarter came in at Rs 300 crore, YoY decline of 22.2%. This was due to 15% increase in its depreciation expense. Its standalone revenue for the quarter came in at Rs 3,591 crore, registering 0.7% YoY decline. EBITDA for the quarter fell by 7.8% YoY to Rs 605.7 crore with a corresponding margin contraction of 130 bps. EBITDA margin for the quarter stood at 16.9%. This margin contraction was aided by 5.7% increase in its employee expenses.MRF is the largest manufacturer of tyres and the largest OEM tyre supplier in India. It has the highest market share of 38% in tyre industry. MRF is the first Indian company to be approved by global luxury car makers. In FY17, its revenue mix comprised of tyres (88%), tubes (8%) and others (5%). JUST DIAL OFF DAY'S HIGH POST CLARIFICATION - Just Dial share price was off day's high in afternoon after its clarification. The company clarified that as of now there is no proposal in respect of the acquisition of the business of the company by Google and news published in the newspaper is factually incorrect. Just Dial is engaged in providing search services in India. The company offers search services across multiple platforms, such as the internet, mobile internet, telephone,and text . Around 188 crore businesses were listed on its portal as on Q1FY18.
VEDANTA- Vedanta has announced capex approvals for its Copper and Oil & Gas Businesses with total outlay of c. $1570 million. The company stated that it has commenced its next phase of growth for its Oil & Gas business, which will result in an additional production of c.100kboepd. The total capex for the Oil & Gas projects will be c. $850 million. As per the announcement, the project portfolio covers Enhanced Oil Recovery: Replicating the success of Mangala Polymer EOR in Bhagyam and Aishwariya Tight Oil & Gas: Deploying latest fracking technologies to recover Oil & Gas from tighter reservoir formations through execution of Raageshwari Deep Gas and Aishwariya Barmer Hill Other Projects: Infill wells around existing producers in Mangala and Cambay to accelerate near term production; Increasing liquid handling capacity at Mangala Processing Terminal by over 30% to handle incremental volumes . As for the Copper Business, the Board has also approved expansion of its copper smelter at Tuticorin to double its capacity from 400kt p.a. to 800kt p.a., with a capex of $717 million of which $141 million has already spent. Completion of this project will place Tuticorin as one of the world’s largest single-location copper smelting complexes. The project is expected to have an execution timeline of 24 months, with plant commissioning & stabilization in FY 2020. CADILA HEALTHCARE- Zydus today announced that the Mexico regulatory authority COFEPRIS, has granted marketing approval to commercialize Lipagly in Mexico for the treatment of Dyslipidemia in patients with diabetes mellitus type 2 and Hypertriglyceridemia in patients with diabetes mellitus type 2 not controlled by statins. Elevated triglycerides and insulin resistance are two key components of the metabolic syndrome, which medical science believes are responsible for diseases like hypertriglyceridemia, diabetic dyslipidemia or Non Alcoholic Steatohepatitis disease. Increased triglyceride accumulation in the liver can also lead to inflammation, fibrosis, cirrhosis and liver failure, a serious medical condition known as NAFLD or NASH. Additionally, Zydus is currently evaluating Saroglitazar in several clinical trials for treating liver conditions like NASH and Primary Biliary Cholangitis . "Saroglitazar is an important scientific and medical breakthrough in our effort to develop medicines for patients suffering from hypertriglyceridemia and diabetic dyslipidemia", said Pankaj Patel, Chairman, Zydus Group, and added, "This approval of Saroglitazar in Mexico is a major milestone for the company."
INDIA CEMENTS - The company declared its September 2017 quarter results on November 10, 2017, posting a revenue decline by 3% and net profit declined by 62.1% as compared to corresponding quarter in the previous year. The company reported a standalone revenue of Rs 1,268 cr in September 2017 as against a revenue of Rs 1,307 cr in September 2016 quarter resulting in a decline by 3%. EBITDA for the quarter fell by 19.2% to Rs 181 cr as compared to corresponding quarter in the previous year with a corresponding margin contraction of 286 bps. EBITDA margin for the quarter stood at 14.3%. The Net Profit for the quarter was reported at Rs 23.67 crores as against Rs 62.41 crores in the corresponding quarter of previous year resulting in a decline by 62.1% . DIVI’S LABORATORIES - Divis Laboratories, in its filing to BSE, has informed that US medical regulator USFDA has completed evaluation of the company’s corrective actions in response to FDAs warning letter dated April 13, 2017 for Unit II plant of the company in Vishakhapatnam. The company has noted the update on USFDAs website that they have closed-out the warning letter. The company, on November 2, 2017, had informed that USFDA is likely to lift import alert 66-40 and close the warning letter. The Company had reported tepid September, 2017 quarterly financial results due to the impact of Import alert on the UnitII plant. The Company has seen a drop in its net revenue from operations from Rs 994.18 crores in corresponding quarter of previous year (net of excise duty) to Rs 887.52 crores in the reported quarter by 11 % and a slip in the net profit from Rs 223.85 crores in corresponding quarter of previous year to Rs 206.78 crores in the reported quarter by 8 %. The stock is trading at a price of Rs 1044, up by Rs 34 or 3.4% on NSE at 9.25 am. Divi's Laboratories manufactures and markets generics, APIs and intermediates. It is also engaged in custom synthesis of active ingredients and advanced intermediates for pharma MNCs. The company derived 49% of FY17 revenues from generics, followed by CRAMS and neutraceuticals at 45% and 6%, respectively.
RBL BANK - RBL Bank has on November 8, 2017, completed the acquisition of more than 50% of the paid-up equity share capital in Swadhaar FinServe Private Limited (Swadhaar) thereby making it a subsidiary of the Bank. The targeted company is into the business of being a Business Correspondent. The objective of the acquisition is to increase the existing shareholding of the Bank from 30% to more than 50% with the view to bring alignment of operations. The Bank's shareholding post this acquisition in Swadhaar is 58-40%. This acquisition will aid RBL Bank to consolidate its position in the banking and financial services. Turnover of Swadhaar over last 3 years is as follows: FY17: Rs. 47.54 Cr; FY16: Rs. 1.12 Cr; FY15: Rs.17.82 Cr. PAGE INDUSTRIES- The stock has spiked by more than 8% after declaring its quarterly results today. The volumes are also higher by 5 times of its weekly average volumes. Page Industries standalone revenue for the quarter came in at Rs 625.7 crores, registering 17% increase as compared to corresponding quarter in the previous year.EBITDA for the quarter rose by 19.5% as compared to corresponding quarter in the previous year to Rs 128.4 crores with a corresponding margin expansion of 43 bps. EBITDA margin for the quarter stood at 20.5%. This margin expansion was aided by 6% decline in its cost of raw material. The PAT for the quarter came in at Rs 84 crore, an increase of 22.4% as compared to corresponding quarter in previous year. The company declared the second interim dividend of Rs 35 per share on face value of Rs 10 per share. The stock closed at a price of Rs 22,591, up by 8.37% or Rs 1745 on NSE. AMARA RAJA BATTERIES- The stock price of Amara Raja Batteries Ltd surged up by more than 7.5% on account of its financial results better than the estimates. The company’s standalone revenue for the quarter came in at Rs 1428 crore, registering 5.3% decline as compared to corresponding quarter in the previous year. EBITDA for the quarter rose by 3.5% as compared to corresponding quarter in the previous year to Rs 238 crores with a corresponding margin expansion of 142 bps. EBITDA margin for the quarter stood at 16.7%. The PAT for the quarter came in at Rs 127 crores, a decline of 6.6% as compared to corresponding quarter in the previous year. This was due to rise in the effective tax rate to ~33% in the quarter as against ~30% in the corresponding quarter of last year. The board of directors declared the interim dividend of Rs 2 on each equity share of Re 1 FV.
DEWAN HOUSING FINANCE - Shares of Dewan Housing Finance Corp were up 3.7% today on several large deals on the NSE. Over 2.2 million shares of Dewan Housing were traded on the NSE against a daily average of 1.1 million shares. Shares of Dewan Housing were up 165% so far in 2017. Dewan Housing Finance Corporation Ltd is one of India’s largest housing finance company with presence in 352 locations across India. Its loan book consists of housing loan (65.8%), LAP (16.9%), project finance (14%) and SME (3.3%). DHFL’s loanbook grew at CAGR of 32% over FY13-17. Its AUM stood at Rs.83,560cr, GNPA at 0.94% where as NNPAs were nil in FY17.
ALLAHABAD BANK - The bank, through its filing on BSE, has intimated that it has raised Additional Tier 1capital of bank amounting to Rs 600 crores on November 8, 2017. The funds are raised through private placement of AT-1 Perpetual Bonds Series III at an annual coupon of 9.34% p.a., discovered through electronic bidding mechanism of NSE (NSE EBP). This fundraising is compliant with Basel III norms. This is part of capital raising plan approved by Board of Directors of the bank on May 18, 2017. The capital raising plan involved . Raising of Equity Capital of Bank aggregating upto Rs 2000 crores (including premium) through various modes; Raising of additional tier 1 (AT 1) capital to bank aggregating upto Rs 2000 crores and tier 2 capital of bank aggregating upto Rs 1000 during FY 2017-18. The stock has rallied 23% from quarterly low of Rs 64.20 made on August 22, 2017, on account of the announcement of recapitalization plan by the government in the public sector banks through recap -bonds. RELIANCE INFRA - Reliance Infrastructure Limited is set to win a Rs 1,000 Cr order from Nuclear Power Corporation of India after it emerged as the lowest bidder for an engineering and construction contract for the Kudankulam plant. Reliance Infra is now shifting its focus to cash contracts as a part of its strategy to become “asset light”. As a result, the management has stated that they are looking to increase the company’s EPC order book. NPCI had opened bids for EPC tenders related to the third and fourth units of the Kudankulam nuclear power project (1,000 MW each). RInfra emerged as the lowest bidder beating Tata Projects and Larsen & Toubro. The project duration is estimated at 56 months.
The project entails the design, engineering, procurement, manufacture, supply, erection and construction, testing, commissioning, handing over and performance guarantee of common services, systems, structures and components for the plant in Tamil Nadu. This move is part of the government’s push into increasing the generation of nuclear power. The government has already approved 10 new nuclear reactors this year. The pressurized heavy-water reactors have an aggregated capacity of about 700 MW. India plans to have a nuclear power generation capacity of 63,000 MW by 2030, from its existing levels of 6,780 MW.
LUPIN - US Food and Drug Administration's issues combined warning letter to Goa and Phitampur facility unit II. Lupin had received 3 forms 483s for Goa on April 7 & 6 for Phitampur in May. This is negative news for the company and stock to react significantly negative, as there will be delay in product approvals from Goa and Phitampur facility. Lupin’s US revenue is expected to decline ~20% in FY18E due to Glumetza/Fortamet sales erosion. Most of the key near term launches are expected to begin only in 2HFY18. Lupin has lowered its FY18 EBITDA margin guidance by 500 bps owing to higher than expected erosion in Glumetza and price pressures in the US base business. Growth in the US business is expected to resume from FY19E onwards, driven by upcoming launches. TATA POWER COMMISSIONS - India’s largest renewable energy company and Tata Power’s wholly-owned subsidiary, announced that the company has commissioned its 25 MW solar plant in Charanka, Gujarat Solar Park. The project was won by the Company in November 2016 under the National Solar Mission of Government of India through VGF mode, and its commissioning is earlier than timelines of December 2017 in the PPA. With this development, TPREL's total installed operating capacity now stands at 1484 MW. The solar plant has been built over 113 acres of land and the Sale of power from solar plant has been tied up under a 25 year Power Purchase Agreement with SECI at a tariff of Rs 4.43/ unit. Rahul Shah, CEO, Tata Power Renewable Energy Limited, said, "We aim to create a focused renewable energy business in TPREL with a sustained growth trajectory. The commissioning of the 25 MW solar plant in Gujarat marks a milestone in our drive, to grow our portfolio of clean and renewable energy generation. We are grateful to the Government of Gujarat and to the nodal agencies for their support while developing the project.
As always, we will continue to look for opportunities to acquire operating wind and solar plants, apart from our own organic growth pipeline, to grow our generation portfolio." Tata Power’s vision is to have 35-40% of the Company's total generation capacity from non-fossil fuel sources by 2025. Tata Power's renewable energy capacity this year crossed 2000 MW and green generation portfolio crossed the 3000 MW mark.
HIMACHAL FUTURISTIC - Himachal Futuristic Communications was up 4.5% at around 10:20 AM today, touching its one-month high as the company said it has bagged an order worth Rs 12.5 billion from Bharat Sanchar Nigam Ltd. The order is for installation and maintenance of dense wavelength division multiplexing equipment across India on turnkey basis for defence forces.
LEGAL DISCLAIMER
This Document has been prepared by Ways2Capital (A Division of High Brow Market Research Investment Advisor Pvt Ltd). The information, analysis and estimates contained herein are based on Ways2Capital Equity/Commodities Research assessment and have been obtained from sources believed to be reliable. This document is meant for the use of the intended recipient only.
This document, at best, represents Ways2Capital Equity/Commodities Research opinion and is meant for general information only. Ways2Capital Equity/Commodities Research, its directors, officers or employees shall not in any way to be responsible for the contents stated herein. Ways2Capital Equity/Commodities Research expressly disclaims any and all liabilities that may arise from information, errors or omissions in this connection. This document is not to be considered as an offer to sell or a solicitation to buy any securities or commodities.
All information, levels & recommendations provided above are given on the basis of technical & fundamental research done by the panel of expert of Ways2Capital but we do not accept any liability for errors of opinion. People surfing through the website have right to opt the product services of their own choices.
Any investment in commodity market bears risk, company will not be liable for any loss done on these recommendations. These levels do not necessarily indicate future price moment. Company holds the right to alter the information without any further notice. Any browsing through website means acceptance of disclaimer.
DISCLOSURE High Brow Market Research Investment Advisor Pvt. Ltd. or its associates does not do business with companies covered in research report nor is associated in any manner with any issuer of products/ securities, this ensures that there is no actual or potential conflicts of interest. To ensure compliance with the regulatory body, we have resolved that the company and all its representatives will not make any trades in the market. Clients are advised to consider information provided in the report as opinion only & make investment decision of their own. Clients are also advised to read & understand terms & conditions of services published on website. No litigations have been filed against the company since the incorporation of the company.
Disclosure Appendix: The reports are prepared by analysts who are employed by High Brow Market Research Investment Advisor Pvt. Ltd. All the views expressed in this report herein accurately reflects personal views about the subject company or companies & their securities and no part of compensation was, is or will be directly or indirectly related to the specific recommendations or views contained in this research report.
Disclosure in terms of Conflict of Interest: (a) High Brow Market Research Pvt. Ltd. or his associate or his relative has no financial interest in the subject company and the nature of such financial interest; (b) High Brow Market Research Pvt. Ltd. or its associates or relatives, have no actual/beneficial ownership of one percent or more in the securities of the subject company, (c) High Brow Market Research Pvt. Ltd. or its associate has no other material conflict of interest at the time of publication of the research report or at the time of public appearance;
Disclosure in terms of Compensation: High Brow Market Research Investment Advisor Pvt. Ltd. policy prohibits its analysts, professionals reporting to analysts from owning securities of any company in the analyst's area of coverage. Analyst compensation: Analysts are salary based permanent employees of High Brow Market Research Pvt. Ltd.
Disclosure in terms of Public Appearance: (a) High Brow Market Research Pvt. Ltd. or its associates have not received any compensation from the subject company in the past twelve months; (b) The subject company is not now or never a client during twelve months preceding the date of distribution of the research report. (c) High Brow Market Research Pvt. Ltd. or its associates has never served as an officer, director or employee of the subject company; (d) High Brow Market Research Pvt. Ltd. has never been engaged in market making activity for the subject company.