Dear Customer,
Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.
- U.S. stocks closed lower Tuesday, with the Dow Jones industrial average snapping a three-day winning streak, as Wall Street digested a slew of corporate earnings reports and U.S. housing starts data.
| Dow Jones |
17217.1
|
-13.4
|
-0.08%
|
| Dow Jones Fut |
17129.0
|
+22.0
|
+0.13%
|
| Nikkie |
18335.2
|
+148.0
|
+0.81%
|
| SGX Nifty |
8255.0
|
-1.5
|
-0.02%
|
- Asian shares eked out cautious gains on Wednesday as concerns about corporate earnings hobbled Wall Street while investors counted down to the European Central Bank's policy meeting later in the week. Hongkong market is closed today
- Market is expected to open on a flattish note and likely to remain range bound during the day.
- Aksh Optifibre Limited has informed that Hon'ble High Court of Rajasthan has admitted a winding up petition against the Company, being Corporate Guarantor, for the alleged/disputed liability of its subsidiary.
- Financial Technologies has entered into an agreement with Madison India for sale of 1.58% stake in Indian Energy Exchange for Rs 33.96 crore.
- Standard & Poor's lowered Vedanta Ltd foreign currency long-term corporate credit rating on London-listed mining conglomerate Vedanta Resources PLC to 'B+' from 'BB-' with a negative outlook, citing weak financial performance expected in the next 12-18 months.
- Parsvnath Developers repays Rs 50 cr debt to Essel Finance, others
- RBI Says Foreign Shareholding Via FIIs/(RFPIs In Shriram Transport Crosses Threshold Ban Limit
- Welspun Corp Wins Order To Supply 90,000 mt Line Pipes In MENA Region
| SKS Micro - Insti |
- SKS Microfinance (SKS) reported a good set of numbers for 2QFY16. Net interest income grew 50%, which was 12% above our estimate. Assets under management (AUM) rose 71% YoY and non-Andhra Pradesh AUM grew 80% YoY. Net interest margin or NIM stood at 12.0% against our estimate of 11.2%. NIM improved 20bps on sequential basis, but on YoY basis it fell 90bps on account of a higher base. Non-interest income grew 73%, driven by a 40% growth in loan processing fees and a 95% rise in other income. Operating expenses grew 25%, which was 5% below our estimate. Cost-to-AUM ratio improved to 7.6% from 10.0% a year ago. Operating profit grew 96%, which was 33% above our estimate. Gross non-performing assets or GNPAs, in line with our expectations, deteriorated slightly by 10bps QoQ to 0.2%. Collection efficiency was maintained at 99.7%. Credit costs (annualised) at 80bps were in line with our estimate. PAT grew 37% as SKS started paying minimum alternate tax or MAT. PAT was 31% above our estimate. The management revised its FY16 PAT guidance to Rs2.90bn from 2.35bn earlier. We have increased our AUM growth estimate for FY16 to 55% from 50% earlier. We have also increased our earnings estimates by 13%/9% for FY16/FY17, respectively. We have conservatively increased our GNPA estimates by 10bps each to 0.8%/1.2% for FY17/FY18, respectively. We have retained Buy rating on SKS, valuing the stock at a P/ABV of 4.0x with a target price of Rs650, up 44% from the current market price.
|
| Sanofi India |
- Result is good
- Sales is Rs 552.8 cr vs exp of Rs 573.7 cr. QoQ Rs 514.3 cr YoY Rs 487.3 cr
- EBITDA is Rs 141.9 cr vs exp of Rs 125.1 cr. QoQ Rs 121.4 cr YoY Rs 103.9 cr
- PAT is Rs 72.5 cr vs exp of Rs 72.2 cr. QoQ Rs 64.2 cr YoY Rs 62 cr
|
| Syngene International |
- Result is good
- Sales is Rs 256 vs QoQ Rs 228.3 cr YoY Rs 197.9 cr
- EBITDA is Rs 85.8 cr vs QoQ Rs 74.9 cr YoY Rs 63.5 cr
- PAT is Rs 52.3 cr vs QoQ Rs 48.6 cr YoY Rs 40 cr
- The stock is trading at 34x FY16E earnings
|
| ACC |
- result ahead of Exp Sales came at 2740cr vs Exp 2761cr qoq 2961cr yoy 2741cr EBITDA came at 314cr vs Exp 256cr qoq 334cr yoy 379cr. current Qtry EBITDA is after Local Body tax of rs.37cr excluding that EBITDA is even higher at 315cr PAT came at 117cr vs exp 123cr qoq 131cr yoy 205cr
|
| Hero Motocorp |
- result ahead of exp Sales came at 6745cr vs Exp 6677cr qoq 6856cr yoy 6864cr EBITDA came at 1083cr vs Exp 986cr qoq 1047cr yoy 935cr PAT came at 772cr vs Exp 716cr qoq 750cr yoy 763cr
|
| Kajaria Ceramics |
- Result improved. Sales came at 211cr vs qoq 198 yoy 188cr EBITDA came at 21cr vs qoq 18cr yoy 16.5cr PAT came at 5.16cr vs qoq 3.21cr yoy 3.92cr. Qtr EPS is Rs. 4.75
|
| Rane Madras |
- Result improved. Sales came at 211cr vs qoq 198 yoy 188cr EBITDA came at 21cr vs qoq 18cr yoy 16.5cr PAT came at 5.16cr vs qoq 3.21cr yoy 3.92cr. Qtr EPS is Rs. 4.75
|
| GM Breweries |
- result continue to be good post good performance in Q1. Sales came at 94cr vs qoq 81cr yoy 75cr EBITDA came at 18.11cr vs qoq 21.37cr yoy 5.69cr Sep qtr EBITDA is after provision of Rs.6.7cr on account of LBT. PAT Came at 9.43cr vs qoq 15.89cr yoy 2.33cr
|
| Hatsun Agro |
- Result is good
- Sales came at Rs 851.1 cr vs QoQ Rs 865.3 cr YoY Rs 744.2 cr
- EBITDA came at Rs 83.6 cr vs QoQ rs 78.9 cr YoY Rs 51.0 cr
- PAT is Rs 31.0 cr vs QoQ Rs 28.7 cr YoY Rs 10.3 cr
|
| Adani Transmission |
- result good Sales came at 564cr vs qoq 468cr EBITDA came at Rs.528cr vs qoq 440cr PAT came at Rs.153cr vs qoq Rs.29.61cr Sep quarter included higher other income of rs.57cr vs qoq 1.27cr Qtr EPS is Rs.1.39 and Even adjusted to higher other income qtr EPS is Rs.1.05
|
| Jyothy Labs |
- Result inline Sales came at 401cr vs Exp 402cr qoq 414 yoy 368cr EBITDA came at 49cr vs Exp 51cr qoq 57cr yoy 33cr PAT came at 39cr vs exp 37cr qoq 44.6cr yoy 25cr
|
| AVT natural Product |
|
| DHFL |
|
| Federal Bank |
- Result is below expectations
|
| Mphasis |
- result improved. Sales came at 1557.5 cr vs exp 1524.21 cr vs qoq 1496.41 cr vs yoy 1464.87 cr. EBITDA came at 234.5 cr vs 226.82 cr vs qoq 211.56 cr vs yoy 214.52 cr. ADJ PAT came at 188.6 cr vs 179.78 vs qoq 168.9 cr vs yoy 160.20 cr .
|
| Welspun India |
|
| Bajaj Finance |
- Result ok. Operationally performance has come ahead of expectation but there is a higher increase in Loan loss provisions. NII came at 897cr vs qoq 894cr yoy 625cr PBP came at 565cr vs qoq 525cr yoy 379cr Provision came at 137cr vs qoq 103cr yoy 80cr PAT came at 279cr vs qoq 276cr yoy 197cr Share is trading at PE of 19 FY17 earning
|
| Foseco India |
|
| Ortel Communication |
|
| Zensar Tech |
- result improved . Sales came at 756.43 cr vs qoq 704.64 cr vs yoy 647.66 cr. EBITDA came at 119.31 cr vs qoq 109.34 cr vs yoy 99.52 cr. PAT came at 91.34 cr vs qoq 76.80 cr vs yoy 67.31 cr .
|
| Can Fin Home |
|
| Bajaj Finserve |
|
| Container Corporation |
- result inline Sales came at 1501cr vs exp 1507cr qoq 1420cr yoy 1354cr EBITDA came at 316cr vs exp 316cr qoq 288cr yoy 313cr PAT came at 233cr vs Exp 233cr qoq 207cr yoy 192cr
|
| IMFA |
- Result ok Sales came at 325.8cr vs qoq 322cr yoy 332.3cr
- EBITDA came at 56.4cr vs qoq 51cr yoy 60.2cr
- PAT came at 5.1cr vs qoq loss of 11cr yoy .6cr.
|
| BASF |
- Result is not good
- Sales came at Rs 1113.2 cr vs QoQ Rs 1345.9 cr YoY Rs 1205.9 cr
- Loss at EBITDA came at Rs 30.3 cr vs QoQ profit of rs 61.1 cr YoY profit of Rs 39.3 cr
- Net loss is Rs 58.7 cr vs QoQ Rs 92.7 cr YoY loss of Rs 20 cr
|
| Biocon |
- Result is below expectations
- Sales is Rs 828 cr vs exp of Rs 849 cr. QoQ Rs 779 cr YoY Rs 750 cr
- EBITDA is Rs 189 cr vs exp of Rs 201 cr. QoQ Rs 212 cr YoY Rs 173 cr
- PAT is Rs 103 cr (adjusted exceptional) vs exp of Rs 113.5 cr. QoQ Rs 126 cr YoY Rs 102 cr
- The stock is trading at 20x FY16E earnings
|
| Bayer Cropscience |
- Result is below expectations
- Sales is Rs 1150 cr vs exp of Rs 1337.7 cr. QoQ Rs 1371 cr YoY Rs 1215 cr
- EBITDA is Rs 214 cr vs exp of Rs 239 cr. QoQ Rs 142 cr YoY Rs 244 cr
- PAT is Rs 150 cr vs exp of Rs 177 cr. QoQ Rs 107 cr YoY Rs 176 cr
|
| International Paper |
|
| Everest ind |
- Result declining. Sales came at 284cr yoy 243cr qoq 402cr EBITDA came at 4.28cr vs yoy 8.53cr qoq 38cr PAT came at negative 2.28cr vs yoy 3.37cr qoq 23cr. Being seasonal Business Q2 is generally weak quarter
|
- Results to be announced (PAT Rs cr)
21-Oct
|
Sept'14
|
June'15
|
Expectation
|
NB Insti
|
| Akzo Nobel India Ltd. |
35.8
|
45.3
|
43.7
|
#N/A
|
| Bajaj Auto Ltd. |
590.9
|
1014.8
|
904.8
|
886.2
|
| Bajaj Holdings & Investment Ltd. |
510.0
|
613.2
|
na
|
#N/A
|
| Blue Dart Express Ltd. |
30.8
|
45.6
|
52.4
|
#N/A
|
| Cairn India Ltd. |
2277.9
|
835.0
|
572.4
|
#N/A
|
| Cosmo Films Ltd. |
4.4
|
18.4
|
na
|
#N/A
|
| Delta Corp Ltd. |
-3.6
|
0.1
|
na
|
#N/A
|
| HCL Infosystems Ltd. |
-45.3
|
-41.5
|
na
|
#N/A
|
| HDFC Bank Ltd. |
2381.5
|
2695.7
|
2896.9
|
2861.8
|
| Indiabulls Real Estate Ltd. |
37.3
|
90.7
|
74.2
|
#N/A
|
| Indiabulls Housing Finance Ltd. |
448.2
|
511.3
|
554.8
|
#N/A
|
| Indiabulls Ventures Ltd. |
30.5
|
27.3
|
na
|
#N/A
|
| Indiabulls Wholesale Services Ltd. |
1.0
|
-16.0
|
na
|
#N/A
|
| Idea Cellular Ltd. |
755.9
|
930.8
|
829.0
|
#N/A
|
| Intellect Design Arena Ltd. |
0.0
|
-11.1
|
na
|
#N/A
|
| IRB Infrastructure Developers Ltd. |
121.7
|
165.9
|
143.3
|
#N/A
|
| JSW Steel Ltd. |
748.8
|
-106.8
|
-171.5
|
#N/A
|
| KPIT Technologies Ltd. |
70.6
|
44.4
|
45.9
|
#N/A
|
| MMFS |
219.4
|
107.4
|
207.5
|
#N/A
|
| Mahindra CIE Automotive Ltd. |
4.6
|
16.2
|
68.3
|
#N/A
|
| Mangalam Drugs & Organics Ltd. |
2.0
|
3.1
|
na
|
#N/A
|
| NIIT Ltd. |
5.3
|
-5.9
|
na
|
#N/A
|
| Tata Coffee Ltd. |
32.4
|
25.4
|
32.7
|
#N/A
|
| Wipro Ltd. |
2084.8
|
2187.7
|
2232.6
|
2213.9
|
| Zydus Wellness Ltd. |
27.3
|
19.5
|
29.6
|
#N/A
|
| 22-Oct |
|
|
|
|
| Cadila Healthcare Ltd. |
278.1
|
353.4
|
357.7
|
366.5
|
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