The Nifty -50 managed to quickly recoup early morning losses to regain its critical psychological level of 8K, supported by gains in pharma IT, banks, consumer durable, capital goods & power stocks. Market update at 10 O clock - Sensex at 26314.89, went up 11 points; Nifty: 7961.60, went up 6 points.
Today, the S&P SBE Sensex went high over 100 points in morning trade
after starting on a cautious note today, led by gains in Infosys, NTPC,
RIL, HDFC & L&T.
Stocks of Tata Motors :- July-September Q(quarter) stabilized profit may fall 22 per-cent yearly to Rs 2,554 crore, according to analysts & reports. It may be strike by weak JL operational performance & loss in native business. Revenue may increase 2.3 per-cent to Rs 62,000 cr during the quarter as compared to Rs 60,564.2 crore in year-ago session despite volume growth of 12 per-cent.
Tata Motors is going to report loss of Rs 242 cr in September Q(quarter) against loss of Rs 1,818 cr in year-ago period. Revenue shall hike 15 per-cent to Rs 10,100 cr in same period. Operating profit may be at Rs 752 cr against loss of Rs 264.6 cr on yearly basis with operating profit margin at 7.4 per-cent for the quarter. The stocks has been on a rollercoaster ride in previous 6 mnths. It fell 54 per-cent in a span of 6 mnths from Rs 605 to Rs 279 because of fall down in sales of china but it controlled to recover swiftly to Rs 400 after signs of other geographies like US(United States) picking up.
JLR's(Jaguar Land Rover) :- Profit in July-September quarter is going to dive 51 per-cent to 294 m pound compared to year-ago duration, excluding the strike of vehicles damaged in China port explosion. Revenue may grew 3 per-cent to 4,962 m pound at the time of the Q(quarter) from 4,808 million pound in same quarter previous fiscal.
Currency Updates : Rupee(INR) is trading low against USD
Continuing its recent fall, the Rupee(INR) depreciated 3 paise to 65.78 against the United States dollar in early trade on Friday. The native currency had settled at a month low of 65.75 in against to the US(United States) dollar in the preceding duration on fresh dollar requirement from banks & importers.
Dennis Lockhart, told overnight that the central bank was deliberately trying to convince investors of a possible December interest rate increase in its last policy statement, and was successful in doing so. "Going into that (October) meet, I felt a successful outcome would be hopes aligning with the view that 'liftoff' at our up-coming December meeting is a possibility, but uncertainity, saying in conference held in Bern, Switzerland. The dollar index, which tracks the movement of the greenback as compared to basket of 6 major currencies, stood at 97.91.
Tata Steel went down over 4% .
Today reports from New Delhi: Tata SteelBSE -2.08 % fall over 4 per-cent in morning trade on Friday after the Tata group firm reported a strengthend net profit of Rs 1,528.71 cr for the Q(quarter) ended 30 th September as compared with Rs 1,254.33 cr reported for the same Q(quarter) previous year. The numbers were increase by sale of non-core stake in Tata MotorsBSE -1.04 % & Titan.
Sales for the Q(quarter) closed 30th Sep disappointed investors. Volumes shrank 18 per-cent to Rs 29,068.54 crore. Consolidated results include performance of Tata Steel's India, Europe and South East Asia businesses, said an ET report. many brokerage firms have maintained ratings, but few of them have decreased their 12-month TGT(target) prices as well.
CLSA has maintained sell rating on the stock post September quarter results, but lacerated its TGT(target) price to 170 from Rs 220 earlier. The brokerage firm has also lacerated its FY16-18 Ebitda by 8%-21%.
The Asia-focused broker further added that the outlook for second half is worse as Indian steel prices have declined. At 10 O clock morning; Tata Steel stocks were trading 3.9 per-cent lower at Rs 216.65. However, It strikes a low of Rs 215.25, & a high of Rs 220.75 so far in morning trade today on the BSE. Earnings before taxation, depreciation, interest & amortisation (Ebitda) adjusted for one-off items halved to Rs 1,985 crore on a consolidated basis. Steel deliveries fell 3 per-cent to 6.33 m tonnes, reports added.
Credit Suisse maintained an 'underperform' rating on the stock with a target price of Rs 180 post September quarter results. They have also slashed FY18 earnings per share (EPS) by 10 per cent as EU profitability is becoming a bigger concern.
Stocks Of Bank of Baroda - Bank of BarodaBSE 1.72 % Ltd's, India's 2nd-biggest state-run lender by assets, second-quarter profit collapse around 89 per-cent today, strike by a sharp increase in provisions as bad loans jumped.
Shares in the Mumbai-based bank, which in August month became one of the 1st state owned lenders to appoint a private sector chairman, scrambled almost 10 per-cent at the market open. The stock was down 5.5 per-cent.
Net profit fell to 1.24 billion rupees ($18.9 million) for its quarter ended September 30 from 11.04 billion rupees reported a year earlier, the Mumbai-based lender said in a statement on Friday. The lumpish bad loan ratio for the Q(quarter) rose to 5.56 per-cent, a bounce from 4.13 per-cent in the past 3 months and 3.32 % in the same quarter a year back.
IDFC Bank gets listed on the bourses today - IDFC has shifted a lot of hassled assets into the bank. What if some of these turn bad? The circumstances are not good, but we've taken some violent provisioning primarily to protect the bank from what may happen in this legacy book. We've set aside adequate capital & over the up coming 4-5 years, while all these things are being sorted out, we're pretty confident to allocate any supplementary capital or carve our supplementary profits to deal with the stressed portfolio. The effort to clean up this heritage portfolio will continue. There's a team working to extract maximum value from this legacy portfolio. And rest of the team may focus on getting new business & developing the bank.
It's Impossible for a native universal bank to be a specialised institution. But then our historical power is corporate relationship; so we'll utilize that to its fullest. That'll be the engine driving IDFC bank. This segment is going to produce surpluses & profits in the near future. It'll help us to invest and build out other two pillars — rural & personal business vertical. Our initial focus would firstly be large urban India — like maybe top-50 centres. This section is very important because bulk of our household & corporate savings, which we need to build the liabilities side, reside only in top-50 centres.
SBI Q2 Pat seen high 16% - India's biggest lender State Bank of India (SBI) will declare its Q(quarterly) earnings on November 6. Analysts expect profit growth, which may be better than June Q(quarter), to be dependent on provisions while net interest income & loan growth may be muted due to weak corporate loan requirement at the time of the quarter. According to average of estimates of analysts said that profit is seen increasing 15.5 per-cent year-on-year to Rs 3,581 cr & net interest income may increase 6.21 per-cent to Rs 14,099 crore in July-Sep quarter.
During June Q(quarter), profit went high 10.2 per-cent & net interest income increased 3.6 percent. Provisions elevated 14.4 percent on yearly basis but fell 39 per-cent sequentially to Rs 3,999.73 crore. Loan growth was 6.6 per-cent with corporate advances up 13 per-cent year-on-year. Net interest margin will be closely watched during the quarter as SBI slashed its base rate by 40 basis points to 9.3 percent on September 29. Analysts feel the impact is likely in Q3FY16. In June quarter domestic net interest margin declined 25 basis points Q-o-Q to 3.29 percent as base rate was cut by 30 basis points. In asset quality, 5:25 scheme, sale of loans to asset reconstruction companies (ARCs sale in Q1 was just Rs 29 crore) & slippages will be closely watched. Analysts hopes slippages for Sep quarter at around Rs 6,000-7,000 cr. So slippages anything higher than Rs 7,500 crore or higher than June quarter (and Q2FY15) may be negative. In Q1FY16 and Q2FY15, slippages stood at Rs 7,318 cr due to seasonality and Rs 7,700 cr, respectively.
Top fifteen stocks that are in focus today :-
Tata Motors Pvt Ltd: The world wide auto giant is estimated to report 64 per-cent YoY fall in net profit to Rs 2,020 crore for the Q(quarter) ended September 30, compared to Rs 5,670 crore reported in the year-ago period.
ONGC: The organization is estimated to report 14 per-cent YoY drop in net profit to Rs 4,660 cr for the Q(quarter) ended Sep 30, compared to Rs 5,440 cr reported in the year-ago period, said an ET Now Poll.
Polaris Consulting & Services Ltd: US-based Virtusa agreed to buy majority 53 per-cent stake in Chennai-based Polaris Consulting & Services for about Rs 1,173 cr.
Sun TV Pvt Ltd: Broadcasting firm Sun TV Network is mulling a buyback of its shares of equity & has formed a committee to examine the proposal.
Tata Steel Ltd: Tata Steel reported a consolidated total profit of Rs. 1528.71 cr for the quarter ended Sep, compared with Rs. 1254.33 cr in the same Q(quarter) last year, helped by sale of non-core stake in Tata Motors & Titan.
Cipla Ltd: India's third largest drug maker, Cipla, on Thursday reported a 44% increase in net profit for its second Q(quarter) through September.
Clariant Chemicals Ltd: The organization reported total profit of Rs 21.45 crore for the Q(quarter) ended September 30 on account one-time income from sale of certain assets.
Binani Cement Ltd: Lenders to Binani Cement, part of the Braj Binani Group, are planning to convert a total debt of Rs 3,000 crore in the company to equity, told two people with knowledge of the matter.
Torrent Pharma Ltd: The Pharma company told that, it has commenced production from its new plant in Gujarat state, the first phase of which has come up at an investment of over Rs 650 cr.
BOSCH Ltd: The company is estimated to report 19 per-cent YoY rise in total profit to Rs 364 cr for the Q(quarter) ended Sep 30th, compared to Rs 306 cr reported in the year-ago period, said an ET Now poll.
Aban Offshore Ltd: Offshore drilling contractor Aban Offshore showed 16.33 per-cent sharp decline in its strengthen net profit at Rs 124.45 cr for the second Q(quarter) ended September 30.
Castrol India Ltd: The organization reported a 21.5 per-cent increase in the September Q(quarter) net profit to Rs 143.2 crore. The lubricant maker had showed a total profit of Rs 117.9 cr in July-September 2014 Q(quarter).
Kalpataru Power Transmission Ltd: Engineering firm Kalpataru Power Transmission (KPTL) today reported 3.9 per-cent drop in standalone net profit at Rs 41.02 cr for the Q(quarter) ended September 30, 2015.
GTL Infrastructure Ltd: Telecom tower firm GTL Infrastructure reported widening of net loss at Rs 167.83 crore for the Q(quarter) ended Sep 30, 2015.
JK Paper Ltd: The organization showed a standalone total profit of Rs 19.81 cr for the second Q(quarter) ended September 30, on increased volume, effective utilisation of raw materials and uptick in sales of copier papers.
Hong Kong slides on US rate - Today, China's stocks rose for a 3rd day, but gains were largely capped as investors took profit in blue chip companies after the market rallied to 2-1/2 month highs current week.
By the midday break, the CSI300 index was up 0.7 per-cent, at 3,733.42 pts, while the Shanghai Composite Index gained 0.5 per-cent, to 3,541.02 pts. "Retail investors took profit & sold shares of banks, securities, and other blue chip companies, which weighed on the composite index,"Yet the correction seemed moderate, indicating the overall market sentiment is warming."
The mainland stock market has earned more than 20 per-cent from the troughs they strike at the time of August month stock crash & the rally this week has driven trading volume to a 3-month high.
Shares of blue chip stocks retreated from the extreme boost that was kicked off by the prediction of an upcoming trading connect between Shenzhen & Hong Kong stock markets and other signs of tentative recovery in the economy of china. The start-up board ChiNext gained 2.7 per-cent, lending support to the broader market. The index has now reunited 46 per-cent from its mid-September low.
Stocks of Tata Motors :- July-September Q(quarter) stabilized profit may fall 22 per-cent yearly to Rs 2,554 crore, according to analysts & reports. It may be strike by weak JL operational performance & loss in native business. Revenue may increase 2.3 per-cent to Rs 62,000 cr during the quarter as compared to Rs 60,564.2 crore in year-ago session despite volume growth of 12 per-cent.
Tata Motors is going to report loss of Rs 242 cr in September Q(quarter) against loss of Rs 1,818 cr in year-ago period. Revenue shall hike 15 per-cent to Rs 10,100 cr in same period. Operating profit may be at Rs 752 cr against loss of Rs 264.6 cr on yearly basis with operating profit margin at 7.4 per-cent for the quarter. The stocks has been on a rollercoaster ride in previous 6 mnths. It fell 54 per-cent in a span of 6 mnths from Rs 605 to Rs 279 because of fall down in sales of china but it controlled to recover swiftly to Rs 400 after signs of other geographies like US(United States) picking up.
JLR's(Jaguar Land Rover) :- Profit in July-September quarter is going to dive 51 per-cent to 294 m pound compared to year-ago duration, excluding the strike of vehicles damaged in China port explosion. Revenue may grew 3 per-cent to 4,962 m pound at the time of the Q(quarter) from 4,808 million pound in same quarter previous fiscal.
Currency Updates : Rupee(INR) is trading low against USD
Continuing its recent fall, the Rupee(INR) depreciated 3 paise to 65.78 against the United States dollar in early trade on Friday. The native currency had settled at a month low of 65.75 in against to the US(United States) dollar in the preceding duration on fresh dollar requirement from banks & importers.
Dennis Lockhart, told overnight that the central bank was deliberately trying to convince investors of a possible December interest rate increase in its last policy statement, and was successful in doing so. "Going into that (October) meet, I felt a successful outcome would be hopes aligning with the view that 'liftoff' at our up-coming December meeting is a possibility, but uncertainity, saying in conference held in Bern, Switzerland. The dollar index, which tracks the movement of the greenback as compared to basket of 6 major currencies, stood at 97.91.
Tata Steel went down over 4% .
Today reports from New Delhi: Tata SteelBSE -2.08 % fall over 4 per-cent in morning trade on Friday after the Tata group firm reported a strengthend net profit of Rs 1,528.71 cr for the Q(quarter) ended 30 th September as compared with Rs 1,254.33 cr reported for the same Q(quarter) previous year. The numbers were increase by sale of non-core stake in Tata MotorsBSE -1.04 % & Titan.
Sales for the Q(quarter) closed 30th Sep disappointed investors. Volumes shrank 18 per-cent to Rs 29,068.54 crore. Consolidated results include performance of Tata Steel's India, Europe and South East Asia businesses, said an ET report. many brokerage firms have maintained ratings, but few of them have decreased their 12-month TGT(target) prices as well.
CLSA has maintained sell rating on the stock post September quarter results, but lacerated its TGT(target) price to 170 from Rs 220 earlier. The brokerage firm has also lacerated its FY16-18 Ebitda by 8%-21%.
The Asia-focused broker further added that the outlook for second half is worse as Indian steel prices have declined. At 10 O clock morning; Tata Steel stocks were trading 3.9 per-cent lower at Rs 216.65. However, It strikes a low of Rs 215.25, & a high of Rs 220.75 so far in morning trade today on the BSE. Earnings before taxation, depreciation, interest & amortisation (Ebitda) adjusted for one-off items halved to Rs 1,985 crore on a consolidated basis. Steel deliveries fell 3 per-cent to 6.33 m tonnes, reports added.
Credit Suisse maintained an 'underperform' rating on the stock with a target price of Rs 180 post September quarter results. They have also slashed FY18 earnings per share (EPS) by 10 per cent as EU profitability is becoming a bigger concern.
Stocks Of Bank of Baroda - Bank of BarodaBSE 1.72 % Ltd's, India's 2nd-biggest state-run lender by assets, second-quarter profit collapse around 89 per-cent today, strike by a sharp increase in provisions as bad loans jumped.
Shares in the Mumbai-based bank, which in August month became one of the 1st state owned lenders to appoint a private sector chairman, scrambled almost 10 per-cent at the market open. The stock was down 5.5 per-cent.
Net profit fell to 1.24 billion rupees ($18.9 million) for its quarter ended September 30 from 11.04 billion rupees reported a year earlier, the Mumbai-based lender said in a statement on Friday. The lumpish bad loan ratio for the Q(quarter) rose to 5.56 per-cent, a bounce from 4.13 per-cent in the past 3 months and 3.32 % in the same quarter a year back.
IDFC Bank gets listed on the bourses today - IDFC has shifted a lot of hassled assets into the bank. What if some of these turn bad? The circumstances are not good, but we've taken some violent provisioning primarily to protect the bank from what may happen in this legacy book. We've set aside adequate capital & over the up coming 4-5 years, while all these things are being sorted out, we're pretty confident to allocate any supplementary capital or carve our supplementary profits to deal with the stressed portfolio. The effort to clean up this heritage portfolio will continue. There's a team working to extract maximum value from this legacy portfolio. And rest of the team may focus on getting new business & developing the bank.
It's Impossible for a native universal bank to be a specialised institution. But then our historical power is corporate relationship; so we'll utilize that to its fullest. That'll be the engine driving IDFC bank. This segment is going to produce surpluses & profits in the near future. It'll help us to invest and build out other two pillars — rural & personal business vertical. Our initial focus would firstly be large urban India — like maybe top-50 centres. This section is very important because bulk of our household & corporate savings, which we need to build the liabilities side, reside only in top-50 centres.
SBI Q2 Pat seen high 16% - India's biggest lender State Bank of India (SBI) will declare its Q(quarterly) earnings on November 6. Analysts expect profit growth, which may be better than June Q(quarter), to be dependent on provisions while net interest income & loan growth may be muted due to weak corporate loan requirement at the time of the quarter. According to average of estimates of analysts said that profit is seen increasing 15.5 per-cent year-on-year to Rs 3,581 cr & net interest income may increase 6.21 per-cent to Rs 14,099 crore in July-Sep quarter.
During June Q(quarter), profit went high 10.2 per-cent & net interest income increased 3.6 percent. Provisions elevated 14.4 percent on yearly basis but fell 39 per-cent sequentially to Rs 3,999.73 crore. Loan growth was 6.6 per-cent with corporate advances up 13 per-cent year-on-year. Net interest margin will be closely watched during the quarter as SBI slashed its base rate by 40 basis points to 9.3 percent on September 29. Analysts feel the impact is likely in Q3FY16. In June quarter domestic net interest margin declined 25 basis points Q-o-Q to 3.29 percent as base rate was cut by 30 basis points. In asset quality, 5:25 scheme, sale of loans to asset reconstruction companies (ARCs sale in Q1 was just Rs 29 crore) & slippages will be closely watched. Analysts hopes slippages for Sep quarter at around Rs 6,000-7,000 cr. So slippages anything higher than Rs 7,500 crore or higher than June quarter (and Q2FY15) may be negative. In Q1FY16 and Q2FY15, slippages stood at Rs 7,318 cr due to seasonality and Rs 7,700 cr, respectively.
Top fifteen stocks that are in focus today :-
Tata Motors Pvt Ltd: The world wide auto giant is estimated to report 64 per-cent YoY fall in net profit to Rs 2,020 crore for the Q(quarter) ended September 30, compared to Rs 5,670 crore reported in the year-ago period.
ONGC: The organization is estimated to report 14 per-cent YoY drop in net profit to Rs 4,660 cr for the Q(quarter) ended Sep 30, compared to Rs 5,440 cr reported in the year-ago period, said an ET Now Poll.
Polaris Consulting & Services Ltd: US-based Virtusa agreed to buy majority 53 per-cent stake in Chennai-based Polaris Consulting & Services for about Rs 1,173 cr.
Sun TV Pvt Ltd: Broadcasting firm Sun TV Network is mulling a buyback of its shares of equity & has formed a committee to examine the proposal.
Tata Steel Ltd: Tata Steel reported a consolidated total profit of Rs. 1528.71 cr for the quarter ended Sep, compared with Rs. 1254.33 cr in the same Q(quarter) last year, helped by sale of non-core stake in Tata Motors & Titan.
Cipla Ltd: India's third largest drug maker, Cipla, on Thursday reported a 44% increase in net profit for its second Q(quarter) through September.
Clariant Chemicals Ltd: The organization reported total profit of Rs 21.45 crore for the Q(quarter) ended September 30 on account one-time income from sale of certain assets.
Binani Cement Ltd: Lenders to Binani Cement, part of the Braj Binani Group, are planning to convert a total debt of Rs 3,000 crore in the company to equity, told two people with knowledge of the matter.
Torrent Pharma Ltd: The Pharma company told that, it has commenced production from its new plant in Gujarat state, the first phase of which has come up at an investment of over Rs 650 cr.
BOSCH Ltd: The company is estimated to report 19 per-cent YoY rise in total profit to Rs 364 cr for the Q(quarter) ended Sep 30th, compared to Rs 306 cr reported in the year-ago period, said an ET Now poll.
Aban Offshore Ltd: Offshore drilling contractor Aban Offshore showed 16.33 per-cent sharp decline in its strengthen net profit at Rs 124.45 cr for the second Q(quarter) ended September 30.
Castrol India Ltd: The organization reported a 21.5 per-cent increase in the September Q(quarter) net profit to Rs 143.2 crore. The lubricant maker had showed a total profit of Rs 117.9 cr in July-September 2014 Q(quarter).
Kalpataru Power Transmission Ltd: Engineering firm Kalpataru Power Transmission (KPTL) today reported 3.9 per-cent drop in standalone net profit at Rs 41.02 cr for the Q(quarter) ended September 30, 2015.
GTL Infrastructure Ltd: Telecom tower firm GTL Infrastructure reported widening of net loss at Rs 167.83 crore for the Q(quarter) ended Sep 30, 2015.
JK Paper Ltd: The organization showed a standalone total profit of Rs 19.81 cr for the second Q(quarter) ended September 30, on increased volume, effective utilisation of raw materials and uptick in sales of copier papers.
Hong Kong slides on US rate - Today, China's stocks rose for a 3rd day, but gains were largely capped as investors took profit in blue chip companies after the market rallied to 2-1/2 month highs current week.
By the midday break, the CSI300 index was up 0.7 per-cent, at 3,733.42 pts, while the Shanghai Composite Index gained 0.5 per-cent, to 3,541.02 pts. "Retail investors took profit & sold shares of banks, securities, and other blue chip companies, which weighed on the composite index,"Yet the correction seemed moderate, indicating the overall market sentiment is warming."
The mainland stock market has earned more than 20 per-cent from the troughs they strike at the time of August month stock crash & the rally this week has driven trading volume to a 3-month high.
Shares of blue chip stocks retreated from the extreme boost that was kicked off by the prediction of an upcoming trading connect between Shenzhen & Hong Kong stock markets and other signs of tentative recovery in the economy of china. The start-up board ChiNext gained 2.7 per-cent, lending support to the broader market. The index has now reunited 46 per-cent from its mid-September low.
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