SGX Nifty was trading 28.50 points up at 9446.50, indicating a positive start for the market today.
Asian markets are mixed. Hang Seng up by 130 points, SSE & STI are up by 9 points and 14 points respectively whereas Nikkei is down by 33 points.
IIP data & WPI data updates -
With most of the companies putting up a better-than- expected show, earnings is surely going to be a major factor in determining market movement in the coming week.
Under the new series with a 2011-12 base year, the Index of Industrial Production (IIP) rose 5% in the financial year and 2.7% in March, data released on Friday by the Central Statistics Office (CSO) showed.
The CSO and the department of industrial policy and promotion (DIPP) shifted to the more recent base year for IIP and Wholesale Price Index-based (WPI-based) inflation, respectively, to derive a more accurate and realistic picture of the key indicators. This will align these data with gross domestic product (GDP) data, which is already being measured on a 2011-12 base year.
Updated WPI-based inflation for the same month under the new series with a 2011-12 base year also eased to 3.85% in April from 5.3% in the previous month.
🎯 News & Impact 🎯
Major Results Today :
Vedanta, Colgate-Palmolive, Bata India, Indo Count Industries, JK Tyre, Future Lifestyle, Kajaria Ceramics, Polaris Consulting, South Indian Bank, Tube Investments of India, Voltamp Transformers, Chennai Petroleum, Electrosteel Steels, Gravita India, Hindustan Fluoro Carbons, Honda Siel Power Products, Lumax Auto Technologies, Unity Infraprojects, Vaibhav Global, Vindhya Telelinks, Skipper, Jindal Stainless.
Results Updates :
🎯 Idea Cellular :
Consolidated Net loss at Rs.325.60 crore versus loss of Rs.449.20 crore(YoY).
Negative for the stock.
🎯 Jammu & Kashmir Bank :
Net loss at Rs.554.30 crore versus loss of Rs 56.02 crore (YoY).
Negative for the stock.
🎯 Central Bank :
Net loss at Rs.591.8 crore versus loss of Rs 898 crore (YoY).
NII up 9.7 & at Rs.1,715.4 crore versus Rs. 1,563.3 crore (YoY).
Gross NPA at 17.81 % versus 14.14 percent (QoQ).
Provisions at Rs.1,926.7 crore versus Rs. 1,486 crore (QoQ); Rs 2,286.7 crore (YoY).
🎯 Karnataka Bank :
Net profit up 29.6 % at Rs.138.4 crore versus Rs.106.8 crore (YoY).
NII down 2.1 % at Rs.352.2 crore versus Rs.359.8 crore (YoY).
Gross NPA at 4.21 % versus 4.3 % (QoQ).
Provisions at Rs 160.4 crore versus Rs. 100.6 crore (QoQ); Rs.112.5 crore (YoY).
Positive for the stock.
🎯 UCO Bank :
Net loss at Rs.588.2 crore versus loss of Rs.1,715.2 crore (YoY).
NII down 34.7 % at Rs.609.3 crore versus Rs.933.1 crore (YoY).
Gross NPA at 17.12 % versus 17.18 percent (QoQ).
Positive for the stock.
🎯 TVS Electronics :
Net profit at Rs 5.8 crore versus Rs.1.2 crore (QoQ).
Total income up 10.4 percent at Rs.943 crore versus Rs.854.2 crore (QoQ).
Positive for the stock.
🎯 NDTV
Net profit at Rs.5.3 crore versus loss of Rs.18.5 crore (QoQ).
Revenue up 16.8 % at Rs.154.4 crore versus Rs.132.2 crore (QoQ).
🎯 Nestle India :
Net profit up 6.8 % at Rs.306.7 crore versus Rs.287.3 crore (YoY).
Total income up 9.5 % at Rs.2,591.9 crore versus Rs.2,367.5 crore (YoY).
🎯 Tata Teleservices (Maharashtra) :
Net loss at Rs.1,365.6 crore versus loss of Rs.414.7 crore (QoQ).
Revenue down 9.4 % at Rs.596.5 crore versus Rs.658.7 crore (QoQ).
Negative for the stock.
🎯 Titan :
Net profit up 7.4 % at Rs.200.7 crore versus Rs.186.9 crore (YoY).
Total income up 44.3 % at Rs.3,459.7 crore versus Rs.2,397.5 crore (YoY).
Jewellery margins hit.
Negative for the stock.
🎯 PNB Housing Finance :
Net profit up 48.5 % at Rs.152.4 crore versus Rs.102.6 crore (YoY).
Provisions at Rs.66.7 crore versus Rs. 30.8 crore (QoQ); versus Rs.31.2 crore (YoY).
Gross NPA at 0.22 % versus 0.37 percent (QoQ).
🎯 Suven Life Science :
Net profit up 7.8 % at Rs.40.06 crore against Rs. 37.16 crore. (YoY).
🎯 Godrej Industries :
Godrej Agrovet directors approve IPO.
🎯 United Bank of India :
UBI revised marginal cost of funds based lending rate (MCLR).
🎯 Corporation Bank :
Bank fixed marginal cost of funds based lending rate.
🎯 GMR Infra :
GMR Infra to sell stakes in Indonesian coal mining entities.
🎯 Tata Metaliks :
Shuts down plant.
🎯 Power Grid :
Powergrid to offer masala bonds, to set up solar park in Gujarat.
Positive for the stock.
🎯 Welspun Enterprises :
CARE upgrades rating to A1.
🎯 Swaraj Auto :
The board approves new business plan to set up seat frame manufacturing unit.
🎯 Vishnu Chemicals :
Co's shares pledged by promoters.
Negative for the stock.
🎯 Coffee Day Enterprises :
Coffee day to acquire majority equity stake in a company in the express logistics business with annual revenue of Rs. 40 crore.
🎯 Ferro Alloys :
The company setting up additional 27MVA Furnace.
🎯 TTK Prestige :
The company set to break health insurance JV with Cigna.
🎯 Piramal Enterprises :
Lodha gets Rs.1,800 crore from Piramal arm.
🎯 Adani Enterprises :
Co's renewable energy arm aims to raise USD 200 million.
🎯 InterGlobe Aviation :
The company may tap former staff for regional plans.
🎯 NBCC :
State-owned construction firm NBCC India has bagged Rs.315 crore contract in April.
🎯 TeamLease :
The company sees decline in hiring over next 6 months.
🎯 JSW Energy :
The company extends deadline to close Jaypee Power deal to December.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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