15 Nov. 2018 Morning Brief

A flat positive opening expected today.

US markets fell as financial stocks were hit by fears that regulations on the banking industry would tighten once the Democratic Party takes control of the US House of Representatives.

Asian markets are trading mixed in the morning trade today after U.S. equities declined and Treasuries stabilised following gains amid a renewed bout of risk aversion in American markets.

A volatile session ended with a marginal losses after a gap up opening. Nifty50 again failed to close above 10600 mark which clearly signaling lack of strength on higher level. 10600 and 10650 are the barriers for it's northward journey ahead and 10450 as an immediate support.

🎯 News & Impact 🎯

Results Updates :

🎯 Grasim (YoY) :
Revenue up 23.8 % at Rs.16,795 crore.
Net loss at Rs.1,446 crore versus net profit at Rs.524.9 crore.
Margin at 15.2 % versus 18.6 %.

🎯 Vodafone Idea (Q2, Consolidated) :
Revenue at Rs.7,664 crore.
Net loss at Rs 4,974 crore.
Margin at 6 %.

🎯 Ujjivan Financial Services (YoY) :
Net interest income up 33.8 % at Rs. 261.2 crore.
Net Profit at Rs.44.3 crore versus net loss at Rs.12 crore.
NIM at 12 % versus 10.6 %.
Loan book up 24.7 % at Rs.8,317 crore.
GNPA at 1.9 % versus 2.7 % (QoQ).
Positive for the stock. 👍

🎯 Thermax (YoY) :
Revenue up 38.2 % at Rs.1,427.6 crore.
Net profit up 30.2 % at Rs.74.5 crore.
Margin at 7.7 % versus 9.2 %.

🎯 Apollo Hospitals (YoY) :
Revenue up 15.3 % at Rs.2,090.1 crore.
Net profit up 11.4 % at Rs 79 crore.
Margin at 12.3 % versus 12.2 %.

🎯 Indian Hotels (YoY) :
Revenue up 13.2 % at Rs.964.5 crore.
Net Loss at Rs.5.2 crore versus net loss at Rs.57.7 crore.
Margin at 10.3 % versus 6.4 %.

🎯 Alkem Laboratories :
Company received no observations on Form 483, as the U.S. FDA completed the inspection at the company’s Bioequivalence Facility at Taloja, Maharashtra.

🎯 Kotak Bank :
ING Group seeks to to sell its entire 3.7 % stake in Kotak Mahindra Bank via block deals.

🎯 Sundaram Finance :
Sundaram Finance and Netherlands based Ageas Insurance along other with Indian shareholders signed an agreement, where by the Dutch company will acquire 40 % stake in Royal Sundaram General Insurance for Rs.1,520 crore, Sundaram Finance proposes to divest 25.9 % of its stake in insurance arm bringing down its holding from 75.9 % to 50 % for Rs.984.2 crore.

🎯 IOL Chemicals & Pharma :
Board approved enhancing of Metformin Unit for Rs.2.7 crore and completion of Clopidogrel Bisulphate and Fenofibrate for Rs.19.26 crore.

🎯 Kabra Extrusiontechnik :
Company announced the extension of its partnership with its German counterpart Battenfeld Cincinnati beyond 2026.

🎯 TATA Power :
Company's joint venture ‘Resurgent Power’ signed a share purchase agreement to acquire 75 % stake and 27 crore preference shares in Prayagraj Power Generation for Rs.6,000 crore.

Edited by Sharp.
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