TVS Motors ends 4.5% up on strong Q2FY19 numbers
Shares of TVS Motor Company Limited (TVSM) ended 4.5% higher on Tuesday after the company reported Q2FY19 numbers that beat street estimates.
The company reported a strong set of numbers in Q2FY19 at all three levels – revenue, EBITDA, and PAT. Standalone revenue came in at Rs4,993cr, up 23% yoy (20% qoq). Revenue surpassed the consensus estimate of Rs4,602cr. Revenue growth was led by 15% yoy (17% qoq) volume growth and 7% yoy (2% qoq) realization growth.
RBL Bank declines 4.5% despite profit meeting estimates
Shares of RBL Bank were trading 4.5% down in the afternoon session on Tuesday despite the bank’s profit for the second quarter of FY19 meeting street expectations.
The bank’s Q2FY19 NII has improved 41.1% yoy to Rs593cr against Rs420.2cr in the corresponding quarter in FY18. The bank’s net profit was in-line with estimates, improving 35.8% yoy to Rs204.5cr. Its GNPA for Q2FY19 was flat qoq at 1.4%. NNPA for the quarter came in at 0.74% against 0.75% qoq, indicating a decline of 1bp.
Asian Paints declines after Q2FY19 net profit misses estimates
Shares of Asian Paints dropped ~5% on the NSE and were among the top losers in the morning session after reporting a disappointing set of numbers for the quarter ended September 2018.
The company's consolidated revenue (net of excise duty in the base quarter) of the company grew 8.8% yoy to Rs4, 639.1cr (in-line with estimates). However, due to higher input costs, gross margins contracted 148bps yoy. EBITDA was down 2.1% yoy to Rs784.2cr, 11.5% lower than the estimates. EBITDA margin contracted 188bps yoy to 16.9% (against estimate of 18.8%).
Syndicate Bank raise Rs728cr via preferential allotment from the government
Syndicate Bank said it has received capital infusion of Rs728cr from the government in lieu of preferential allotment of shares.
The bank informed the BSE in a regulatory filing on Monday that the capital infusion has been made towards contribution of the Central government in the preferential allotment of equity shares during financial year 2018-19.
"The said fund was received by the bank on 22nd October, 2018 and has been kept in 'Syndicate Bank Share Application Money Account'," the bank said in the regulatory filing.
RCom’s payment date to Ericsson gets extended
The Supreme Court has extended Reliance Communications' (RCom) deadline to pay Rs550cr to Ericsson till December 15. This move will give some relief to the Anil Ambani-led RCom which has been plagued by financial woes.
As per media reports, the bench told RCom that "keeping in mind the difficulties they were facing in their asset sale, an extension till December 15 will be given but the operator will have to pay Ericsson by then".
0 comments:
Post a Comment