Latest news and update

06th Feb, 2019

Lupin Ltd's Q3FY19 consolidated net profit declines 14.1% yoy to Rs190.47cr

Published on: 4:23 pm

  • Lupin’s revenue in Q3FY19 grew by 13.3% yoy Rs4,505cr vs. 3,976cr in Q3FY18. EBITDA grew by 9.3% yoy to Rs752.5cr in Q3FY19 vs. Rs688cr in Q3FY18.
  • EBITDA margins stood 16.7% in Q3FY19 vs. 13.9% in Q2FY19 and 17.3% in Q3FY18. Company reported loss of Rs151.8cr in Q3FY19 due to the one off litigation fine of EUR40mn (Rs320cr) for Perindopril. Company has done a Perindopril fine provision of EUR 42.8mn (Rs342.2cr) in Q3FY19 which pulled the profit for the quarter. Read more

JSW Steel Ltd's Q3FY19 consolidated net profit declines 18.1% yoy to Rs1,603cr

Published on: 3:49 pm

  • JSW Steel Ltd missed estimates for Q3FY19 on the revenue and earnings fronts due to lower sales volumes. Revenue grew by 13.8% yoy to Rs20,318cr (expectation Rs21,268cr).
  • EBITDA stood at Rs4,501cr, up 16.9% yoy against estimates of Rs4,438cr. EBIDTA margin rose by 59bps yoy to 22.2%. Net profit stood at Rs1,603cr, a decrease of 18% yoy, against an estimate of Rs1,802cr. Read more

Dr Reddy’s denies any wrongdoing in price-fixing complaint filed by US insurance firm

Published on: 3:36 pm

  • Dr Reddys Laboratories in a press note to the exchanges on Wednesday clarified on a media report which stated that US insurance firm had named Dr. Reddy’s in a price-fixing complaint. The company denies any wrongdoing and intends to vigorously defend against these claims.
  • "We believe that there is no material impact to the company's operations or consolidated results," the company said. Read more.

Sensex, Nifty extend rally for fifth day led by RIL

Published on: 3:35 pm

  • Equity benchmark indices extended gain for fifth consecutive session, with the Nifty ended above 11,050 level.
  • The Sensex soared 358 points at 36,975, while Nifty rose 128 points at 11,063. The market breadth was negative with 737 shares advancing, 977 shares declining, and 345 remaining unchanged.
  • Tech Mahindra, Cipla, Zee Entertainment, and Bajaj Finance and Tata Steel were the top gainers on the Nifty, while losers include Adani Ports, IndusInd Bank, Dr. Reddys Labs, Titan Company and NTPC.

Siemens Ltd's Q1FY19 standalone net profit rises 19.69% yoy to Rs228cr : Beats Estimates

Published on: 3:33 pm

  • Siemens Limited posted a stable set of numbers for the quarter ending December 31, 2018, beating the consensus estimates on key performance parameters.
  • Standalone revenues increased by 15.5% yoy to Rs2,807.1cr in Q1FY19 vs. Rs2,429.5cr in Q1FY18, 1.7% ahead of consensus estimates.
  • Operating profit grew 12.5% yoy to Rs306.5cr for the current quarter, 2.1% higher than the consensus estimates. EBITDA margin softened from 11.2% in Q1FY18 to 10.9% in Q1FY19. Read more.

ADAG stocks fall: RCom, RInfra slip further

Published on: 3:32 pm

  • Stocks in the Anil Dhirubhai Ambani Group (ADAG) extended their declines in the last hour of the session on Wednesday.
  • Reliance Communication (RCom) hit a new intraday low on the BSE on Wednesday.
  • The stock has plunged 58% in the past three sessions after the telecom service company said on Friday that it will be filing for bankruptcy. Read more.

Glenmark Pharma inks deal with Grandpharma

Published on: 3:25 pm

  • Glenmark Pharmaceuticals (Glenmark), announced in a regulatory filing that its Swiss subsidiary, Glenmark Specialty S.A., has signed a deal with Grandpharma for commercializing its novel nasal spray Ryaltris in China.
  • The agreement with Grandpharma is Glenmark’s third regional licensing deal for Ryaltris. Glenmark has already signed licensing deals for commercializing Ryaltris in Australia, New Zealand, and South Korea. Read more.

Adani Power Ltd posts consolidated net loss of Rs1,181cr in Q3FY19, vs net loss of Rs1,303cr in Q3FY

Published on: 2:59 pm

  • Adani Power reported a significant improvement in revenue and earnings due to additional revenue recognition on account of compensation for higher coal costs.
  • Revenue grew by 31.7% yoy to Rs6,380cr.
  • EBITDA stood at Rs1,086cr, up 54% yoy.
  • EBIDTA margins rose by 246bps yoy to 17%. Read more

Nifty Media index rose 4% led by Dish TV, Zee, Sun TV

Published on: 2:27 pm

  • The Nifty Media index gained 4% on Wednesday amid heavy buying in Dish TVZee EntertainmentZee Media, and Sun TV.
  • Shares of DishTV and Zee Entertainment, which surged 9% and 7%, respectively, owing to block deals, were leading the index’s gain. Read more

Vardhman Textiles Ltd's Q3FY19 consolidated net profit rises 44% yoy to Rs196cr

Published on: 2:17 pm

  • Vardhman Textile Ltd’s revenue grew by 4.9% yoy and 2.6% qoq to Rs1,729cr. EBITDA came in at Rs307cr, up 36.2% yoy and down 7.2% qoq.
  • EBITDA margin expanded by 407bps yoy and contracted by 188bps qoq to 17.76%. Adjusted PAT grew by 44.5% yoy and down 0.3% qoq to Rs196cr. Adjusted PAT came above estimate of Rs179cr. Read more

RPP Infra wins order worth Rs72.2cr

Published on: 2:16 pm

  • RPP Infra Projects announced winning new orders worth Rs72.2cr in an exchange filing on Wednesday afternoon.
  • The news has sent the stock prices soaring to a high of Rs105, a jump of 12% from its previous closing of Rs92.35 on the BSE. These orders also pave the way for the infra company’s entry in Gujarat. Read more

Prism Johnson Ltd's Q3FY19 standalone net profit rises 28.1% yoy to Rs19cr : Beats Estimates

Published on: 1:17 pm

  • Prism Johnson (PJL) reported strong set of numbers for Q3FY19, ahead of estimates on profitability fronts.
  • Revenue for the quarter grew by 10.3% yoy to Rs1,439.8cr, broadly in-line with estimates.
  • Gross margin expanded significantly by 515bps yoy. Thus, EBITDA jumped by 20% yoy to Rs109cr (~27% above than estimate). Read more

Live share market update: Frontline stocks propel Nifty 113 points higher

Published on: 12:52 pm

  • Indian equity markets continued to surge higher in early afternoon trade after opening gap up on Wednesday.
  • Benchmark indices were trading near their high point of the day led by a strong surge in frontline stocks, mainly in the IT and Media space.
  • The Nifty was trading 113 points higher at 11,025, while Bank Nifty was 210 points higher at 27,397. Read more

Nifty IT index gains 2% led by Tech Mahindra, MindTree, Infibeam

Published on: 12:16 pm

  • The Nifty IT index gained 2% on Wednesday amid heavy buying in Tech MahindraMindTreeInfibeamTCS, and Wipro.
  • Further, depreciation in the local currency also kept IT stocks elevated. The Indian rupee opened 4 paise higher at 71.60/$ on Wednesday. The domestic unit depreciated 23 paise at 71.57/$ on Tuesday. Read more

Zee Entertainment, Dish TV stocks spurt after block deal

Published on: 12:01 pm

  • Shares of Dish TV soared 5% on the BSE after ~12 lakh shares of the company changed hands in a block deal on NSE. Power Finance stock too was trading slightly higher after ~34.6 lakh shares changed hands in a block deal on NSE.
  • In other block deals, shares of Zee Entertainment jumped 6% after ~11.3 lakh shares changed hands in a single deal, while Reliance Power stock slipped ~1% after ~14.7 lakh shares changed hands in a block deal on NSE.
  • Meanwhile, equity benchmark indices were trading in the positive led by ICICI Bank, RIL, and Infosys. Read more

Strides Pharma Science receives EIR for Bengaluru facility

Published on: 11:31 am

  • Strides Pharma Science, in a filing to the exchanges on Wednesday, informed that the company has received the Establishment Inspection Report (EIR) from the US Food & Drug Administration (USFDA) on continued GMP status for its facility in Bengaluru.
  • The inspection, conducted in November 2018, had concluded with 'zero' 483 observations, the company added. Read more 

Symphony, Bluestar dip post Q3FY19 results

Published on: 11:24 am

  • Shares of Symphony Ltd dipped 2% in intraday trade on Wednesday as the company posted a PAT decline of 43% for the quarter ended December 2018. 
  • Symphony's Q3FY19 numbers came much below the consensus estimates on EBITDA and profitability fronts; however, they beat the revenue estimates. Net profit during the quarter dropped 43.1% yoy to Rs37cr vs. Rs65cr in Q3FY18, missing the estimates by 21.3%. Read more.
  • Blue Star's shares also lost 3% on Wednesday as the company posted a net loss in Q3FY19. The company reported a net loss of Rs0.94cr in Q3FY19 as compared to a net profit of Rs13.4cr during the same quarter last year. Read more. 

Sensex up over 190 points; ICICI Bank, Infosys stocks gain

Published on: 11:16 am

  • Equity benchmark indices were trading in the positive session led by ICICI Bank, RIL, and Infosys.
  • The Sensex jumped 190 points to 36,807, while the Nifty gained 63 points to 10,997. The market breadth was negative with 519 shares advancing, 1,133 shares declining, and 400 remaining unchanged.
  • The market participants would keep an eye on Adani Ports, Adani Power, AstraZeneca, CG Power, Balkrishna, Cipla, Cummins India, IGL, JSW Steel, Lupin, Muthoot Finance, PTC and Siemens as these companies report their earnings today.

Q3FY19 results reaction: GAIL up; Dish TV, DLF, Torrent Pharma down

Published on: 11:02 am

  • Shares of GAIL were trading 1% higher, while those of Dish TVDLF, and Torrent Pharma were trading 8%, 3%, and 1% lower, respectively, post their earnings number for the third quarter of FY19.
  • GAIL India Ltd's Q3FY19 results beat the consensus estimates; revenue grew 37.3% yoy to Rs19,788.98cr against Rs14,414.34cr in Q3FY18, beating the estimates of Rs18,985cr. Read more

Symphony Q3FY19 consolidated net profit declines 43.08% yoy to Rs37cr

Published on: 11:00 am

  • Symphony Ltd.'s Q3FY19 numbers came much below consensus estimates on EBITDA and profitability fronts, however, they beat revenue estimates.
  • Consolidated revenues rose 9.6% yoy to Rs240cr as compared to Rs219cr for the same quarter last fiscal, beating estimates by a significant 36.4%. Read more

Tata Chemicals trades at 52-week low after Q3 numbers

Published on: 10:23 am

  • Shares of Tata Chemicals are trading at 52-week low and slipped by 6% on the NSE. The company’s consolidated revenue for the quarter ended December 2018 came in at Rs2,831.7cr, up 10% yoy. However, operating profit for the quarter declined 16.2% yoy to Rs471.2cr.
  • The adjusted net profit after tax attributable to owners (excluding discontinuing operations and one-time deferred tax credits) stood at Rs247.02cr, marginally up 3.2% yoy. Read more

Blue Star Ltd consolidated net loss of Rs0.94cr in Q3FY19, vs net profit of Rs13.36cr in Q3FY18

Published on: 10:05 am

  • Blue Star’s consolidated revenues grew by 17.9% yoy to Rs1,099cr in Q3FY19 vs. Rs932cr in Q3FY18.
  • EBITDA for the current quarter was almost flat at Rs42.3cr, while EBITDA margin declined by 70bps yoy to 3.9% (vs. 4.6% in Q3FY18). Read more.

Tech Mahindra, HPCL stocks soar after strong Q3FY19 numbers

Published on: 9:57 am

  • Shares of Tech Mahindra and HPCL surged in Wednesday’s morning session after posting strong Q3FY19 numbers.
  • Shares of Tech Mahindra surged 6% after its PAT increased by 13% qoq to Rs1,203cr against median consensus estimates of Rs1,107cr. Read more. 

Nifty reclaims 11,000; Tech Mahindra, Zee stocks surge

Published on: 9:40 am

  • Equity benchmark indices opened higher on Wednesday tracking strong positive cues.
  • The stock market extended gains for the fifth consecutive session, with the Nifty50 reclaiming 11,000 mark. Read more. 

Lupin launches Clomipramine Hydrochloride Capsules USP

Published on: 9:33 am

  • Lupin, in its filing to the exchanges, informed that it has launched Clomipramine Hydrochloride Capsules USP, 25mg, 50mg, and 75mg in the US, having received approval from the United States Food and Drug Administration (FDA) earlier.
  • "Clomipramine Hydrochloride Capsules are a generic equivalent of SP ECGX LLC's Anafranil Capsules, 25mg,50mg, and 75mg," the company added in a press note released after market hours on Tuesday. Read more.

Bharti Airtel issues clarification on company’s issuer rating

Published on: 9:30 am

  • Bharti Airtel issued a clarification on Tuesday evening after Moody's Investor Services revised the company’s credit rating on its debt instruments to Ba1 corporate family rating (CFR) from the company's Baa3 issuer rating. 
  • The company stated in the exchange filing that Bharti Airtel and its businesses continue to be diversified and strong. Read more.

RBI imposes penalties on Axis, UCO, Syndicate Banks

Published on: 9:27 am

  • The Reserve Bank of India (RBI) imposed a penalty of Rs2cr on Axis BankUCO Bank, and Rs1cr penalty on Syndicate Bank for violation of norms.
  • "A monetary penalty on Axis Bank and UCO Bank has been charged for non-compliance with Circular on ‘Collection of Account Payee Cheques – Prohibition on Crediting Proceeds to Third Party Account’ dated January 22, 2014 and Master Directions on ‘Frauds – Classification and Reporting by commercial banks and select FIs’ dated July 01, 2016 issued by RBI," the central bank added. Read more.

Important results today: Adani Ports, Cipla, Lupin, IGL

Published on: 9:25 am

Quarterly results that are expected today include Adani Ports & Special Economic ZoneJSW SteelLupin, Adani Power, Cipla.

Here is the street expectation for the companies:

Lupin Consensus expectations for Q3FY19E:
  • Lupin to report 3.3% yoy and 4% qoq growth in its revenue over ramp-up of Solosec, however, the generic business is expected to continue its decline as the Metformin franchisee continues to erode. Read more.

Nifty hits 11,000 mark; Tech Mahindra stock gains 5%

Published on: 9:17 am

  • Equity benchmark indices opened higher on Wednesday tracking strong positive cues. The stock market extended gains for the fifth consecutive session, with the Nifty50 reclaimed 11,000 mark.
  • The Sensex jumped 258 points to 36,875, while the Nifty gained 75 points to 11,009. The market breadth was positive with 834 shares advancing, 661 shares declining, and 528 remaining unchanged.

Novelis Q3FY19 Adjusted EBITDA rises 5.6% yoy to $267mn

Published on: 9:15 am

  • Novelis Ltd, a subsidiary of Hindalco, reported growth in adjusted EBITDA mainly due to lower operating costs.
  • Revenue grew by 2.6% yoy to $3,009mn. EBITDA stood at $267mn, down 2.2% yoy.
  • EBIDTA margin fell by 44bps yoy to 8.9%. Net Profit stood at $78mn, a decrease of 35.5% yoy. Read more.

Jubilant FoodWorks clarifies on royalty charges

Published on: 9:10 am

  • Jubilant FoodWorks in a filing to the exchanges clarified that Jubilant Enpro Pvt. Ltd. (a promoter group company), has decided not to charge the corporate brand royalty of 0.25% of the consolidated revenues of the Company and the same stands withdrawn.
  • The development comes within hours after the company decided to pay 0.25% of the consolidated revenue of the Company effective FY20 as royalty. Read more.

Dish TV India Ltd's Q3FY19 consolidated net profit rises to Rs162cr from Rs25cr qoq : Misses Estimat

Published on: 9:06 am

  • Dish TV India Ltd’s revenue declined by 4.8% qoq to Rs1,517cr.
  • EBITDA came in at Rs518cr, down 4.3% qoq. Read more. 

Broker Radar for February 6

Published on: 9:05 am

CLSA maintained ‘Sell ‘on BHEL; cut TP to Rs56 from Rs86.
  • Net profit growth was driven by one-off interest as margin missing.
  • Believe weak order inflow and falling backlog will not inspire market confidence.
  • Cut new orders estimates by 10% due to the delay of thermal project awards by utilities.

CLSA maintained ‘Buy’ on Jubilant Foodworks with a TP of Rs1,600.
  • Royalty to parent made no real sense.
  • The reversal came as a relief; promoter ‘intent’ was a bigger concern than quantum.
  • Believe an increased dividend payout to be a better way. Read more.

Asian markets trade higher ahead of Trump’s speech

Published on: 9:05 am

  • Asian stock markets were trading higher on Wednesday ahead of Donald Trump's State of the Union address.
  • Donald Trump's annual address will be pored over for an idea about his thinking on a range of issues including the China trade war, the Mexican border wall stand-off, and North Korea.
  • On currency markets, the pound was virtually unchanged against the dollar after tumbling on Tuesday on weak economic data and growing concerns about Britain leaving the EU without a deal. Read more.

Dish TV India Ltd's Q3FY19 consolidated net profit rises to Rs162cr from Rs25cr qoq : Misses Estimat

Published on: 8:59 am

  • Dish TV India Ltd’s revenue declined by 4.8% qoq to Rs1,517cr.
  • EBITDA came in at Rs518cr, down 4.3% qoq. Read more. 

Current FII data

Published on: 8:36 am

FII/DII Data:  In yesterday’s trading session, FIIs bought 420cr stock in the cash market, whereas DIIs bought 194cr worth of stock. In the derivative market, FIIs bought 794cr of Index futures and bought 173cr worth of Index options. In the Stock futures segment, FIIs sold 320cr worth of stock futures and bought 40cr stock options.

FII View: FIIs created bullish positions in the derivative segment, which is deduced by the fact that they created 8337 net long contracts in Index Futures while simultaneously creating 5358 net long contracts in Index Call options. The long-short ratio in Index Futures currently stands at 1.3x which is a bullish sign.

FII OI
(in000's)
% Chg % Chg
Since Expiry
Long/
Short Ratio
Long/Short
 Since Expiry
Index Long 131 1 21 0.8 1.2
Index Short 162 3 3
Index Call Long 200 1 11 2.7 0.9
Index Call Short 74 4 29
Index Put Long 323 9 14 1.9 1.0
Index Put Short 166 7 15

Bulk deal

Published on: 8:31 am

  • Dewan Housing: Tower Research Capital traded over 35.67 lakh shares at Rs 119.59-119.63 apiece.
  • Jet Airways: Tower Research Capital traded over 7.13 lakh shares at Rs 240.19-240.51 per share.
  • Reliance Communications: Tower Research Capital traded over 3.79cr shares at Rs 6.22-6.23 apiece

Top stocks in focus: Axis Bank, UCO Bank, Syndicate Bank

Published on: 8:25 am

SGX Nifty indicating a gap up opening for the Indian markets

Published on: 8:05 am

  • SGX Nifty is at 10934, up 22.10 points. 
  • Nifty saw a good session for large-cap heavyweights while the broader breadth remained under pressure as mid caps continued to see selling. 
  • Foreign flows are supporting the index with buying in Reliance, HUL, TCS, and other large caps, however, the ADAG stocks are seeing selling as sentiment has turned negative. 
  • For today, expect a test of 11000 as global cues see equity outperform, while mid caps could see lukewarm trade. Read more.

What not to miss today

Published on: 7:48 am

  • Markets to open higher; Nifty support @ 10886, resistance 11000.
  • FIIs purchased 420cr (cash), 794cr in Index Futures.
  • Rupee depreciates 23 paise at 71.57/$.
  • US, Asian markets in green ahead of Trump’s State of the Union address.
  • Lupin launches generic antidepressant Clomipramine Hydrochloride capsules USP in US. Read more.

Derivative watch

Published on: 7:32 am

  • Nifty and Bank Nifty traded with a positive bias with an addition of fresh long positions.
  • Bank Nifty 27100PE saw fresh writing as the PCR of the same strike soared higher.
  • IGL, SRF, and Dr. Reddy's posted a stellar show, adding fresh open interest consisting mainly of long positions.

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