Opening Bell By CapitalStars 06/August/2019

CS NIFTY FUTURES (AUG) OVERVIEW

TREND BEARISH

RES 2: 11000

RES 1: 10900

SUP 1: 10700

SUP 2: 10600

CS BANK NIFTY FUTURES (AUG) OVERVIEW

TREND BEARISH 

RES 2: 28100

RES 1: 27900

SUP 1: 27500

SUP 2: 27200

Financial Advisory Company in Indore, Stock Advisory Company in Indore, Equity Tips, FreeTrading Tips ,  MCX Tips, sebi registered advisory company, Intraday stock tips, Free commodity tips

Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

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India Inc performance: Hits and misses of June quarter earnings

Dr Reddy's Labs, ICICI Bank, State Bank of India and HDFC reported profit while

on the other hand, Bharti Airtel disappointed the Street.

Quite a number of companies have declared their numbers for the June quarter, which include top names that have either surprised or disappointed the Street.

However, experts say that there is a possibility that double-digit earnings growth could be seen after the September quarter.

Dr Reddy's Labs, ICICI Bank, State Bank of India and HDFC reported profit while on the other hand, Bharti Airtel disappointed the Street.

“Earnings have been a mixed bag but more importantly the commentary post earnings has been not encouraging, which is a cause of concern. The hits are quite clear like Asian Paints, ICICI Bank, Dabur, Infosys, HUL and Reliance Industries,” Naveen Kulkarni, Head of Research, Reliance Securities told Moneycontrol.

“However, there have been quite a few misses like Axis bank, MMFS and auto stocks. The misses have been more than the hits at this juncture,” he said.

The June quarter is likely to mimic the March quarter with financials leading the growth, while consumer discretionary, consumer staples, industrials, material, and real estate could well post declining trend sequentially in the top-line growth.

Sectors like auto and auto ancillaries, consumer discretionary and FMCG will get affected by the slowdown in demand.

Bharti Airtel: Profit turns to loss

Telecom major Bharti Airtel on August 1 reported a consolidated net loss of Rs 2,866 crore for the quarter that on ended June 2019, as against a profit of Rs 107.2 crore for the quarter that ended on March 2019. Revenue of the company was up marginally at Rs 20,737.9 crore versus Rs 20,602.2 crore.

The earnings before interest, tax, depreciation and amortization (EBITDA) grew 24.8 percent to Rs 8,492.6 crore as against Rs 6,806.4 crore. However, the margin expanded by 700 bps to 41 percent, up from 33 percent.

Global research firm Morgan Stanley has an equal-weight on the stock with target at Rs 360 per share. CLSA has a buy rating, but has cut its target to Rs 390, down from Rs 415 per share and has cut EBITDA estimates by 2-5 percent to factor in higher costs.

Dr Reddy's Labs: Net profit up 45 percent YoY

Dr Reddy's Laboratories on June 29 reported a net profit of Rs 662.8 crore for the quarter that ended on June 31, a jump of 45 percent year-on-year basis, which was led by a one-time gain. The increase in net profit is due to a one-off receipt of Rs 350 crore from Celgene, pursuant to a settlement agreement related to Revlimid brand capsules in Canada. Revenues grew 3 percent YoY at Rs 3,843.4 crore.

The company said that growth was led by contribution from new products and increase in volumes, but was partly offset by price erosion and adverse foreign exchange movement.

BofAML has a buy rating on the stock with target at Rs 3,052 signalling an upside of 15 percent, while Nomura also has a buy with target at Rs 3285.

ICICI Bank: Profit backed by lower provisioning, healthy NII growth

ICICI Bank posted a profit of Rs 1,908 crore for the June quarter (Q1) over lower provisioning and healthy NII growth. It was against a loss of Rs 119.55 crore reported in the year-ago period and a profit of Rs 969.06 crore for the previous quarter. The profit was partly impacted by lower other income.

Net interest income grew (NII) by 26.8 percent year-on-year to Rs 7,737.43 crore for quarter that ended on June 2019 with a healthy loan growth of 15 percent YoY, which beat analyst expectations. NII was expected at Rs 7,427.1 crore, according to a poll of analysts conducted by CNBC-TV18.

Research house Jefferies has retained a buy call on ICICI Bank and raised its target price to Rs 480, up from Rs 455 per share. According to CLSA the company is a high-conviction buy with target at Rs 530 per share.

State Bank of India: Standalone profit of Rs 2,312.20 crore

State Bank of India reported a standalone profit of Rs 2,312.20 crore for the quarter ended June 2019, aided by lower provisioning with stable asset quality. Higher other income and operating income also boosted profitability, though tepid NII growth limited profits.

The bank had reported a loss of Rs 4,875.85 crore in the corresponding period last fiscal. On a quarter-on-quarter basis, it reported a whopping 176 percent jump in profit against Rs 838.40 crore in March quarter. Net interest income grew by 5.2 percent year-on-year to Rs 22,938.8 crore in June quarter 2019.

HDFC: 46 percent jump in profit at Rs 3,203.10 crore

Housing Development Finance Corporation (HDFC) has reported 46 percent jump in its Q1FY20 net profit at Rs 3,203.10 crore against Rs 2,190 in the same quarter last year. Revenue of the company was up 30.6 percent at Rs 12,990.29 crore against Rs 9,947.35 crore

The profit from the sale of investments was at Rs 1,894 crore, while impairment on financial instruments at Rs 890 crore versus Rs 20 crore, YoY.

Axis Bank: Sharp rise in profit

Private sector lender Axis Bank's profit for the June quarter (Q1) grew sharply by 95 percent year-on-year to Rs 1,370 crore, but provisioning and slippages remained higher. It was supported by NII, other income and operating profit. The profitability was higher due to the low base in a year-ago period. The bank had reported a profit of Rs 701 crore in Q1FY19.

Net interest income increased 13 percent year-on-year to Rs 5,843.65 crore in the quarter ended June 2019, with 13 percent loan growth YoY. Gross slippages remained higher at Rs 4,798 crore at the end of June quarter 2019, against Rs 4,337 crore in the corresponding period of the last fiscal and Rs 3,012 crore in Q4FY19.

Hero MotoCorp: Brokerages mixed after jump in profit

Hero MotoCorp reported a whopping 38.3 percent year-on-year (YoY) increase in June quarter profit on account of one-time gain with respect

to reversal of a calamity fund. Profit during the quarter increased to Rs 1,256.7 crore, up from Rs 909.2 crore in the corresponding period of last

fiscal.

Revenue from operations declined 8.8 percent YoY to Rs 8,030.3 crore in the quarter ended June 2019, with sales volume degrowth at 12.5 percent YoY.

Credit Suisse maintained its outperform rating on Hero MotoCorp quarter results, but slashed its target price to Rs 2,710, down from Rs 2,920 earlier. Morgan Stanley maintained its underweight call on Hero MotoCorp after the announcement of its Q1 results, but reduced its target price to Rs 2,143 from, down from Rs 2,459 earlier.

Tech Mahindra: Profit dips 15.3 percent

Tech Mahindra on July 30 reported a 15.3 percent fall in its Q1FY20 net profit at Rs 959 crore against Rs 1,132.5 crore for the quarter that ended on March 2019. The company's rupee revenue was down 2.7 percent quarter-on-quarter (QoQ) at Rs 8,653 crore as against Rs 8,892.3 crore and dollar revenue was down 1.6 percent at $1,247.1 million against $1,267.5 million QoQ.

Earnings before interest and taxes (EBIT) fell 27.4 percent at Rs 992.8 crore, while margin was down 390 bps at 11.5 percent. In the constant currency terms, the revenue growth was at 3.7 percent.

Citi has a neutral rating with target at Rs 705, while Credit Suisse has an outperform rating with target cut to Rs 730 per share.

Ashok Leyland: Nomura stays neutral despite PAT of Rs 274.96 crore

Hinduja Group flagship Ashok Leyland has recorded consolidated net profit for the April-June 2019 period at Rs 274.96 crore.The city-based heavy commercial vehicle major clocked consolidated net profit at Rs 463.78 crore during the same period last fiscal.

For the financial year ending March 31, 2019, consolidated net profit was at Rs 2,194.60 crore. Total income for the April-June quarter was at Rs 6,612.42 crore as against Rs 7,193.79 crore registered year ago.

Nomura has maintained neutral rating on the stock and cut the target price to Rs 72 per share. The research house sees risk of a steeper downcycle and is not expecting an upcycle before FY22.

Source: https:// www.moneycontrol.com/news/business/markets/india-inc-performance-the-hits-and-misses-of-june-quarter-earnings-4282481.html

Financial Advisory Company in Indore, Stock Advisory Company in Indore, Equity Tips, FreeTrading Tips ,  MCX Tips, sebi registered advisory company, Intraday stock tips, Free commodity tips

Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

For more details call on 9977499927 or visit our website www.capitalstars.com

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CORPORATE NEWS CapitalStars 15/July/2019

Indigo board likely to question co-promoter Rakesh Gangwal on Jul 19

Board members of InterGlobe Aviation Ltd (IGAL) are likely to question co-promoter Rakesh Gangwal regarding his allegations against the independent directors, according to Business Standard and ET reports.

The company's board meeting has been scheduled for 19 July to take into account the June quarter results.

Shares of Indigo were trading up by ~2%.

Some IndiGo board members may also question Gangwal next week on the nature of the "exclusive parleys" with engine maker Pratt & Whitney (PW) ahead of the airline's latest engine order.

BHEL, CONCOR set up rail-based logistics terminal at Haridwar

Aimed at leveraging Bharat Heavy Electricals Limited (BHEL)'s strategic location and Container Corporation of India Limited (CONCOR)'s expertise in logistics, the two companies have signed an agreement to form a Joint Working Group (JWG) named BHELCON, for jointly setting up a Rail-based Logistics Terminal at Haridwar.

Significantly, with this, BHEL is making a strategic entry into a new growth area. This terminal will further be developed into a multi-modal-logistics-facility.

In addition to meeting BHEL's own requirements, the terminal will also cater to the large number of industries located in the neighboring SIIDCUL as well as other industrial clusters in the vicinity of the terminal.

DHFL clarifies that it is working with creditors for resolution without haircut

Shares of DHFL extended its losses in today trade and touched the lower circuit at Rs51.35 on the BSE. The company said in a press note that the entire set of management notes are basis its intent to be prudent and conservative inadequately providing-for in results.

Some of the media have used select portions of our statement and created panic/ confusion especially regarding the statement on the going concern.

Sun Pharma launches Ezallor Sprinkle (Rosuvastatin) in US

Sun Pharmaceutical Industries announced the US launch of Ezallor Sprinkle (rosuvastatin) capsules for the treatment of three types of elevated lipid disorders in people who have difficulty swallowing, a problem that is estimated to affect ~30- 35% of long-term care residents.

With the introduction of Ezallor Sprinkle, Sun Pharma continues our commitment of providing a portfolio of alternative formulation products to address the needs of people who have difficulty swallowing, which is especially prevalent among residents in long-term care facilities, said Abhay Gandhi, CEO, North America, Sun Pharma.

Indoco Remedies Goa plant-1 gets USFDA warning letter

Shares of Indoco Remedies fell 7% in late morning trade on Monday as the company has received a Warning Letter from the United States Food and Drug Administration (USFDA) for its Oral Dosages Plant, situated at L -14, Verna Industrial Road, Goa (Plant I), as a result of the inspection carried out in January 2019.

The facility had received 6 observations in Form 483s and was classified as (Official Action Indicated in March 2019. The company responded to these observations with a detailed remediation plan, the implementation of which is still on-goin.

Financial Advisory Company in Indore, Stock Advisory Company in Indore, Equity Tips, FreeTrading Tips ,  MCX Tips, sebi registered advisory company, Intraday stock tips, Free commodity tips

Investment  trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

For more details call on 9977499927 or visit our website www.capitalstars.com

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Opening Bell By CapitalStars 30/Jan/2019

CS NIFTY FUTURES (JAN) OVERVIEW
TREND BEARISH
RES 2: 10800
RES 1: 10737 
SUP 1: 10600 
SUP 2: 10560 


CS BANK NIFTY FUTURES (JAN) OVERVIEW
TREND BEARISH 
RES 2: 27032
RES 1: 26886 
SUP 1: 26557
SUP 2: 26374 

Financial Advisory Company in Indore, Stock Advisory Company in Indore, Equity Tips, FreeTrading Tips ,  MCX Tips, sebi registered advisory company, Intraday stock tips, Free commodity tips.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance. CapitalStars Investment Adviser: SEBI Registration Number: INA000001647

 

For more details call on 9977499927 or visit our website www.capitalstars.com

Read More