30th October, 2018 Morning Brief

Flat opening expected today.

As clearly mentioned yesterday about that the market was near it's bottom and thus an expectation about pull-up rally, we have witnessed the 220 points' rally. All round buying pulled the Nifty50 to settle above 10250 mark yesterday.

Fresh worries about US-China trade policy tensions and a sharp drop in the big technology and internet shares corrected the US markets last night.

🎯 News & Impact 🎯

Major Results Today :
Tech Mahindra, IRB, Pidilite, Bob, Torrent power.

Results Updates :

🎯 BPCL :
Revenue up 0.9 % at Rs.72345.8 crore.
Net profit down 46.9 % at Rs.1218.7 crore.
Margins at 3.3 % versus 5.4 %.

🎯 LIC Housing Finance :
Net interest income up 9.2 % at Rs.1059.9 crore.
Net profit up 11.5 % at Rs.573.2 crore.

🎯 Union Bank of India :
Net interest income up 7.4 % at Rs. 2493.1 crore.
Net profit at Rs. 139 crore versus Net loss at Rs.1530.7 crore.
Net NPA at 8.42 % versus 8.70 % (QoQ).
Provisions for NPAs At Rs.1710 Crore versus Rs.1803.2 crore (QoQ).
Positive for the stock. 👍

🎯 Just Dial :
Revenue up 13.6 % at Rs.221 crore.
Net profit up 29 % at Rs.48.4 crore.
Ebitda up 44.9 % at Rs.57.4 crore.
Margin at 26 % versus 20.4 %.
Positive for the stock. 👍

🎯 HDFC AMC :
Revenue up 11.7 % at Rs.480.4 crore.
Net profit up 14.5 % at Rs.205.9 crore.
Margin at 54.6 % versus 55 %.
Positive for the stock. 👍

🎯 Granules India :
Revenue up 48 % at Rs. 580.9 crore.
Net profit up 49.6 % at Rs.60.3 crore.
Margin at 17.3 % versus 19.6 %.
Positive for the stock. 👍

🎯 Cadila Healthcare :
Company acquired 51 % stake in Windlas Healthcare.

🎯 Biocon :
Biocon along with its partner Mylan received a positive CHMP opinion from European Medicines Agency’s Committee for recommending approval of Ogivri. 

🎯 Rane Holdings :
Company approved divestment of 48.97 percent stake in its JV ‘JMA Rane Marketing.’

🎯 HSIL :
Company signed a distribution agreement with Formenti E Giovenzana of Italy for distribution of kitchen and furniture functional hardware fitting products.

Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers