MARKET OUTLOOK

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 about 1% lower on Friday, despite surprisingly strong Amazon earnings, as signs of slower global growth weighed on sentiment.

Dow Jones	17568.5	-163.4	-0.92%
Dow Futures	17525.0	+2.0	+0.01%
Hangseng	24644.1	-484.2	-1.93%
Nikkie	20394.4	-150.1	-0.73%
SGX Nifty	8500.5	-51.0	-0.60%

 

• Asian stocks fell, after the Dow Jones Industrial Average posted its worst week since January, as investors awaited data on China amid a selloff in commodities.
• Market is expected to open on negative note and likely to witness selling pressure during the day.
• PFC OFS can be subscribed in retail category to take advantage of 5% discount. otherwise PFS share is fairly priced in present scenario. PFC is trading at PE of 5.74 P/BV of 1.06 and ROE of 18.5% as compare to PE of 5.35 P/BV of 1.13 and ROE of 21% of REC.
• Zee looking to enter regional GEC space Co considering Bhojpuri and Malayalam GEC opportunities
• Tata Motors looking to de-risk CV biz by focusing on defence (ET) Tata Motors plans new JLR plant in Poland
• Lupin has acquired TEMMLER PHARMA, a part of the Aenova Group, one of the world’s largest pharmaceutical contract  manufacturers, for an undisclosed amount. Temmler has a fast growing specialty portfolio of 13 products including key CNS products and specialty products that address rare disease areas like Myasthenia Gravis, Huntington disease as well as fast-growing dermatology products for anti-wart treatment.
• Delhi High Court Allows Red FM To Participate In Phase III Auction
• Sequent Shasun JV to buy Lyzka’s veterinary biz
• Cipla has re-negotiated payment terms for acquiring majority stake in Uganda's Quality Chemicals and decided to pay $26 million (Rs 166 crore) upfront to the shareholders of the firm.
• Cyient Limited announced the acquisition of Global Services Engineering Asia, based in Singapore, from Pratt & Whitney Services Pte Limited. This site provides repairs, development and validation for aero gas turbine engine components in support of Pratt & Whitney throughout the region.
• Syngene IPO Note – Subscribe for long term gains - Syngene International Ltd (SIL) is one of the leading India-based contract research organisations (CRO), offering a suite of integrated, end-to-end discovery and development services for novel molecular entities (NMEs) across industrial sectors. It offers service in discovery and development cover multiple domains across small molecules, large molecules, antibody-drug conjugates (ADC) and oligonucleotides. The integrated discovery and development platforms help organisations conduct discovery (from hit to candidate selection), development (including pre-clinical and clinical studies, analytical and bio-analytical evaluation, formulation development and stability studies) and pilot manufacturing (scale-up, pre-clinical and clinical supplies) under one roof. Between FY10-15 SIL’s revenues grew at CAGR of 26.4% while EBIDTA grew at a CAGR of 26.5% and PAT by 42%. We expect it to maintain 20-25% growth going forward. On the valuation front, at the upper price of band of Rs 240-Rs 250, SIL is commanding at PE of 18x of our rough calculations for FY17E. Considering the healthy balance sheet, strong growth and robust profitability, We recommend subscribing the issue for long term gains.

 

• Results Announced

Axis Bank	Result ahead of expectation
Crompton Greaves	result not good sales came 3165cr vs Exp 3494cr EBITDA came at 79cr vs exp 177cr PAT came at 16cr vs exp 74cr
Havells India	result below expectation
ABB India	Result inline Sales came at 1906cr vs Exp 1937cr EBITDA came at Rs.150cr vs Exp 149cr PAT came at 57.45cr Vs Exp 66.6cr
Hitachi Home	result improved Sales came at 704cr vs qoq 489cr yoy 595cr EBITDA came at 83.45cr vs qoq 45.5cr yoy 68.6cr PAT came at 46.52cr vs qoq 24.1cr yoy 43cr.
Artson Eng	result improved
Lumax Auto Technology	result improved. Sales came at 217cr vs qoq 201cr yoy 197cr EBITDA came at 17.7cr vs qoq 14.5cr yoy 16cr PAT came at 8.2cr vs qoq 5.2cr yoy 2.cr
Tata Elxsi	Result good Sales Came at 244cr yoy increase of 28% from 191cr qoq 231cr EBITDA came at 56cr vs yoy 37.7cr qoq 47.39cr PAT came at 35.7cr vs qoq 29.8cr yoy 20.8cr Qtr EPS Rs.11.
Everready Inds.	Result improved Sales came at 348cr vs yoy 323cr qoq 275cr EBITDA came at 37.30cr vs yoy 33.18cr qoq 19.29cr PAT came at 15.90cr vs yoy 10.60cr yoy 5.45cr  Qtr EPS Rs.2.19
Supreme Inds. - Insti	Inventory Gains Lead To Healthy Margins, Retain Accumulate, Downside: 2%, cut TP: Rs617 (Rs643 earlier),19xFY17E EPS of Rs32.4 SIL posted healthy volume growth of 8.4% at 94,141tn following 6.5%/18.1%/5.8%/14.7% volume growth in piping/packaging/industrial/consumer product divisions. With inventory gains at 4.5%-5.0% of sales, better product mix and a higher share of value-added products, operating margin improved 278bps to 20.2%, 438/380bps above our/Bbg esti. SIL generated healthy operating/free cash flow of Rs5.4/3.76bn for FY15 against Rs2.4/1.0bn, in FY14. SIL changed its financial year-end from June to March from FY16, which will increase its year-end working capital needs by ~Rs3bn as June quarter was a lean quarter earlier. In FY15, inventory at Rs5.75bn in March quarter was 23.8% above that of June quarter. We have incorporated these changes and revised our FY16 (9M) and FY17 estimates. With lower input prices coupled with expected recovery in demand, total volume is estimated to grow at a faster pace of 14.9%/13.0% in FY16/17 compared to 1.8%/9.6% in FY14/15. A healthy 31.9% net profit growth in FY17E against a flat CAGR over FY13-FY15 is expected to lend support to SIL’s rich valuation of 19.4x FY17E P/E.
Reliance Inds.	result marginally ahead of exp. Standalone sales came at 65817 vs exp 67800cr EBITDA came at 9307cr vs exp 9098cr PAT came at 6318cr vs exp 6328cr GRM came at $ 10.4 vs qoq $10.10 and yoy $8.7. The Avg Singapore GRM for Q1 was $8.00 which has come down in initial 23 days of July to Avg $5.62. Which may have impact on GRM of Q2
Lumax Industry	result good. Sales came at 315cr vs qoq 306cr yoy 273cr EBITDA came at 26.75cr vs qoq 12.08cr yoy 16.72cr PAT came at 11.36cr vs qoq 2.44cr yoy 4.98cr Qtr EPS came at 12.16
Nitin Spinner	result improved. Sales came at 196cr vs qoq 188cr yoy 133cr EBITDA came at 38cr vs qoq 32cr yoy 22cr PAT came at 12cr vs qoq 12cr yoy 9cr
State Bank of Bikaner and Jaipur	result ok
Kolte Patil	result ok
Agro Tech Food	Result ok. Sales came at 181cr vs qoq 185cr yoy 179cr EBITDA came at11.13cr vs qoq 22.8cr yoy 9.9cr PAT came at 4.59cr vs qoq 14.6cr yoy 5.4cr
Coromandel Engineering	result ok. Sales came at 48.42cr vs yoy 36.16cr qoq 124.69cr EBITDA came at 4.69cr vs yoy negative 1.88cr qoq 25.26cr PAt came at 2.04cr vs yoy negative 5.51cr qoq 17.46cr Qtr EPS 0.62
Deepak Nitrite	result Ok Sales came at 336cr vs qoq 330cr yoy 320cr EbITDA came at 38cr vs qoq 37cr yoy 27.9cr PAT came at 13.3cr vs qoq15.2cr yoy 9.7cr
VIP Ind	result inline. Sales came at 354cr vs Exp 349cr EBITDA came at 39cr vs exp 41cr PAT came at 25cr vs Exp 25.45cr
Relaxo Footware - Insti	Strong result on all fronts Due to Penetration, mkt share gain and strong traction in Sparx brand, net revenue grew by 21.3% to Rs4,536mn. Gross margin improved by 778bps to 66.7% due to lower crude oil price and better product mix, which improved operating margin by 231bps to 15.2%. EBITDA increased by 43.1% to Rs689mn. PAT grew by 55.5% to Rs360mn.
Srikalahasthi Pipe	result improved. Sales came at 256cr vs qoq 301cr yoy 217cr EBITDA came at 62cr vs qoq 57cr yoy 36cr PAT came at 34cr vs qoq 30cr yoy 13cr
Atul Ltd	Result is below expectations Sales is Rs 587.4 cr vs exp of Rs 646.8 cr. QoQ Rs 605.8 cr YoY Rs 636.2 cr EBITDA is Rs 98.4 cr vs exp of Rs 111.1 cr. QoQ Rs 80.7 cr YoY Rs 103.8 cr PAT got a boost from higher other income (8.2 cr vs 1.4 cr Q4/1.5 crQ1FY15) PAT is Rs 60 cr vs exp of Rs 55.8 cr. QoQ Rs 44.9 cr YoY rs 59.8 cr
Visaka Industry	result ok. Sales came at 318cr vs yoy 310cr EBITDA came at 36cr vs yoy 34cr PAT 14cr yoy
Jenburkt Pharma	Result is ok
Uniply	Result declining
TVS Motor	Result below exp Sales came at 2591cr vs exp 2611cr EBITDA came4 at 163cr vs exp 179cr PAT came at 90cr vs exp 100cr
KSB Pump	result declined. Sales came at 198cr vs  qoq 188cr yoy 196cr EBITDA came at 21.83cr vs qoq 12.17 yoy 29.34cr PAT came at 22.22cr vs qoq 6.41cr yoy 22.45cr hiher PAT is on account of Higher Other Income.
Gujarat ambuja Export	result ok. Sales came at 608cr vs qoq 613cr yoy 583cr EBITDA came at 55cr vs qoq 34.14cr yoy 58cr PAT came at 24.85cr vs qoq 20.06cr yoy 29.75cr.
Pfizer	Result is ok Sales is Rs 479 cr vs QoQ Rs 456 cr YoY rs 240 cr EBITDA is Rs 112 cr vs QoQ Rs 124.8 cr YoY Rs 62 cr PAT is Rs 53 cr vs QoQ Rs 42.7 cr YoY rs 46 cr
M&M Fin Services (Consolidated)	result below exp NII stood at 812cr vs 781cr exp, 987cr qoq & 751cr yoy  PBP at 507cr vs 526cr exp, 702cr qoq & 494cr yoy Prov  337cr vs 297cr exp,150cr qoq & 233cr yoy PAT at 107cr vs 217cr exp, 367cr qoq & 169cr yoy
Andhra Bank	Result is Below expectations NII stood at 1157cr vs 1310cr exp, 1371cr qoq & 804cr yoy Non Interest Income at 315cr vs 437cr qoq & 395cr yoy PBP 825at cr vs 982cr exp,1003cr qoq & 626cr yoy Prov  503at cr vs 633cr qoq & 414cr yoy PAT 203at cr vs 245cr exp, 185cr qoq & 107cr yoy Qrtrly EPS 3.36 GNPA  7238cr vs 6877cr qoq at 5.75% vs 5.31% qoq NNPA 3650cr vs 3689cr qoq at 2.99% vs 2.93% qoq
Astec Life	result below expectation After very good growth in Q4 Q1 is a normal quarter with 12% growth yoy. Sales came at 57.22cr vs yoy 92cr EbITDA came at 10.57cr vs yoy 9.0cr yoy 18.9cr PAT came at 2.99cr vs yoy 1.8cr qoq 10cr Qtr EPS 1.38
Ashapura Intimate fashion	result declined qoq
Indian Overseas bank	result not good NII stood 1329at cr vs 1256cr qoq & 1427cr yoy Non Interest Income at 535cr vs, 794cr qoq & 278cr yoy PBP 556at cr vs  1180cr qoq & 686cr yoy Prov  664cr at cr vs 986cr qoq & 299cr yoy PAT at 15cr vs 36cr qoq & 277cr yoy Qrtrly EPS 0.12 GNPA   16451cr vs 14922cr qoq at 9.40% vs 8.33% qoq NNPA 10640cr vs 9813cr qoq at 6.31% vs 5.68% qoq
Geojit BNP paribas	Result declining
Persistent System	result  below expectation. $ revenue came at $78.61 vs exp $79 and qoq $80.03 decline of 1.8%. Rupee revenue came at 500cr vs exp 504cr qoq497cr yoy 435cr EBITDA came at 97cr vs Exp 102cr qoq 100cr yoy 91cr PAT came at 67cr vs exp 74cr qoq 76cr yoy 69cr Qtr EPS Rs.8.5
Bajaj Steel	Result continue to remain weak
Sarda Energy	result declining Sales came at 309cr vs qoq 327cr yoy 362cr EBITDA came at 47.45cr vs qoq 85cr yoy 83cr  PAT came at 24cr vs qoq 6cr yoy 40cr
Bajaj Electronics	result improved. Sales came at 1069cr vs yoy 997cr EBITDA came at negative 5cr vs yoy negative 46cr PAT came at 61cr vs yoy 26cr q1 is a weak qtr for BEL company declared 2:1 bonus
Empire Inds.	result ok

 

• Result to be Announced (Reported PAT Rs cr)

27/7/2015	Jun'14	Mar'15	Exp	NB Insti
Adi Finechem Ltd.	5.2	3.0	na	2.6
Ambuja Cements Ltd.	408.7	317.7	269.2	277.7
Century Enka Ltd.	8.7	1.4	na	na
Century Textiles & Industries Ltd.	66.5	11.8	2.1	na
Coromandel International Ltd.	32.6	68.7	49.9	na
DIC India Ltd.	-10.1	5.7	na	na
Geometric Ltd.	19.2	3.3	7.3	na
Gini Silk Mills Ltd.	0.7	1.6	na	na
Inox Wind Ltd	na	117.9	na	na
Ion Exchange (India) Ltd.	2.9	14.0	10.0	na
Jagran Prakashan Ltd.	55.1	129.7	69.1	na
Jindal Saw Ltd.	54.9	71.1	79.9	na
Just Dial Ltd.	28.1	47.2	34.8	44.2
KEC International Ltd.	11.4	62.9	21.9	14.7
Kirloskar Brothers Ltd.	-19.9	36.0	8.3	na
KPR Mill Ltd.	39.4	50.1	53.5	na
Mahindra CIE Automotive Ltd.	6.5	32.0	75.0	na
MRF Ltd.	230.2	332.6	300.5	na
Info Edge (India) Ltd.	39.8	82.2	49.1	na
OCL India Ltd.	36.2	36.0	29.7	25.8
Orient Refractories Ltd.	12.9	12.9	14.0	na
Subros Ltd.	3.3	7.4	5.0	na
Tech Mahindra Ltd.	630.7	472.0	595.7	na
TFCIL	19.0	11.2	13.8	na
Torrent Pharmaceuticals Ltd.	256.0	130.0	273.8	243.2
TRF Ltd.	-6.2	0.0	na	na
Trident Ltd.	32.3	40.4

DAILY RECOMMENDATIONS

1, BUY ASHOK LEY FUT AT 80, SL 77, TARGET 86, CMP 79.50
2. BUY ZEEL IN FUT AT 387, SL 377, TARGET 407, CMP 387
3. BUY HCLTECH IN CASH AT 977, SL947, TARGET 1050
4. SELL GBPINR [POSITIONAL] AT 98.90, SL 99.40, TARGET 97.70
5. BUY MCX CRUDE [AUG] AT 3250, SL 3200, TARGET 3350

www.adamcapitalfinancial.com  

Nifty Market Outlook

Nifty (8603.45, -6.40, -0.07%)
With almost a flat close with some stocks like Ultratech or CESC posting strong moves, it would appear as if things continue to be the same; however, for the first time in many days the tables seem to have turned and that becomes apparent once you peek at the option statistics of the Nifty and the same getting corroborated by the Bank Nifty as well. Well, what we see are newly emboldened bears mustering enough courage to create fresh position in writing calls as opposed to their usual meek stance of closing out failed call short positions. Not just that in the put option section, the same story is repeated in reverse gear: leaving aside at the money put of 8600—where we see an addition of nearly 153000 units being added in open interest—there is a reduction in outstanding positions in quite a few strike prices in a substantial manner. However, it would be rather too early to read too much for the bulls batting on the back foot for just a day.

In any case, you need to see the Nifty staying below the 8605 – 8590 support area for the most part of the day to signal some unwinding of the erstwhile large long positions taken recently. Only when you see the index falling below 8562 on the back of heavy volume it would signal the onset of a much needed correction. On the other hand, if the index shrugs off yesterday’s indecision and moves above 8625 and stays there it would be an encore for the old story, the bulls marching ahead.

• Most critical level for the day: 8605 - 8592, its immediate support as well


• Strong resistance: 8625 – 8640 and 8670 - 8693


• Major resistance: 8740 – 8750


• Strong support: 8562 – 8520


• Major support: 8487 – 8430

Bank Nifty (19032.70, -62.00, -0.325%)

The momentum might have dissipated and the call writers have scaled down their activities rather they are busy creating fresh positions. Even after that they need to take out the levels between 19035 and 18985 support area to signal some initiative really coming back to them. And when they are able to push the index down below the 18795-support on high volume activity and large scale position building it would signal real weakness in the banking stocks market action. On the other hand, if you find that after a brief stint below the 19000-mark, the index bounces back and moves up again to get past 19150 – 19195 then the initiative would go to the bulls again. However, that looks wee bit unlikely since without some conviction in their strength the bears would not have created fresh positions to the tune of 131375 units.

• Most critical levels for the day: 19035 – 18985, its immediate support as well


• Strong support: 18795


• Strong resistance: 19150 - 19195


• Major support: 18731 - 18622


• Major resistance: 19315 – 19333 and 19430 – 19535

DAILY MARKET OUTLOOK

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.

 

• US stocks edged higher on Monday, with optimism over Greece’s crisis and strong earnings reports pushing the S&P 500 and the Nasdaq Composite in record territory.

Dow Jones	18100.4	+14.0	+0.08%
Dow Futures	17981.0	-22.0	-0.12%
Hangseng	25479.9	+75.1	+0.30%
Nikkie	20739.8	+88.9	+0.43%
SGX Nifty	8623.5	-2.5	-0.03%

 

• Asian stocks rose as a weaker yen buoyed Japanese equities and consumer shares advanced.
• Market is expected to open on flattish note and likely to witness some profit booking during the day.
• IOL chemical received USFDA approval for its Ibuprofen plant. Now it can suuply Ibuprofen to US market.
• Sun Pharma has said that due to ongoing halol plant resolution, consolidated revenues would remain flat or would decline in fy16. Also restraints of supply of few products due to halol plant and one time charges for Ranbaxy integration profitability would be adversely impacted. Negative
• Tata Steel may be forced to further reduce assets in its Europe business, hurt by continued challenges due to adverse currency volatility and surging Chinese imports, company mentioned in its annual report
• Bharti in talk with Orange to sell 4 countries operation in Africa.
• Goldman Sachs, Warburg Pincus To Invest Rs 1,500 cr In Piramal Realty
• SpiceJet’s promoter Ajay Singh pledges nearly 34% of his stake in co

 

• Results Announced

Ultratech Cement - Insti	UltraTech Cement (UCL) posted a very good set of numbers for 1QFY16, withbetter-than-expected performance on all parameters. EBITDA at Rs11.5bn was above our as well as consensus estimates on account of better realisation and volume as well as lower operating costs. Volume improved 3.8% YoY whereas realisation increased 3.2% YoY. Operating costs grew at a modest rate of only 2.7% YoY led by lower power and fuel expenses as pet coke prices were down by ~30% in US dollar terms. As a result, EBITDA/mt rose 5.7% YoY to Rs928
Kajaria Ceramics - Insti	Despite our below consensus revenue estimate, reported revenue of Kajaria Ceramics (KCL) for 1QFY16 was 3.3% below our estimate. With weak volume growth at 6.4% against 14.0%/12.8% in FY14/FY15, respectively, net revenue grew by a mere 9.3% to Rs5,487mn. Higher operating margin on account of a rise in in-house manufacturing and lower power and gas costs by 168bps aided net profit growth. Growth in blended realisation moderated to 2.5% in 1QFY16 against 5.4% in FY15 and in the wake of weak demand we expect KCL to go for price cut to improve volume. Capacity utlisation decreased from 97.7%/97% YoY/QoQ, respectively, to 94.9%, while the working capital cycle increased to 29  days from 23 days YoY. KCL is expanding its capacity by 26.8% in FY16, the utilisation of which will come under further pressure. As a result, we expect the operating margin to decline to 15.7% in FY16 from 16.9% in 1QFY16. We expect a reduction in Bloomberg FY16 PAT estimate, which is 10% above our estimate. Currently, KCL stock trades close to its higher valuation, and at 24.5x/12.7x FY17E P/E and EV/EBITDA, respectively, there is little room for upside in the near term. With weak demand, likely pressure on margins and deteriorating return ratios, we expect a de-rating of KCL in the near term. We have retained Accumulate rating on KCL with a revised target price of Rs735 (Rs728 earlier), based on 12.0x/23.2 FY17EV/EBITDA and 23.0x P/E respectively.
CCL Products	result good. Sales came at 212 cr vs exp 201cr and yoy 175cr Q1 is seasonally weak qtr and q4 is best qtr. As such qoq result not comparable. In last qtr concall company said some despatcg of order got delayed in Vietnam facility which must have been done in Q1 this has led to higher sales in this qtr. EBITDA has also improved substentially both at India and Vietnam Facility to Rs.48cr vs exp 43cr yoy 36cr. Margin came at 23% vs yoy 20.5% PAT came at Rs.30.2cr vs yoy 20.2cr qtr EPs is Rs.2.27.
Federal bank - Insti	Federal Bank’s 1QFY16 bottom-line was down 36% YoY on account of slippage of a large corporate loan account in the metal sector worth Rs1.4bn. Excluding this oneoff, loan slippage was in line with our estimate of Rs1.7bn. PAT was also lower on account of MTM (mark-to-market) investment provision of Rs0.5bn. The bank made healthy NPL provisioning for the quarter. As a result, despite a 55bps increase in gross non-performing assets or GNPAs, net non-performing assets or NNPAs increased by only 25bps. Provision coverage ratio was healthy at 80.5%. Net interest income (after adjusting for interest reversal on loan slippage worth Rs160mn) grew 10%. Adjusted net interest margin (NIM) was down 10bps sequentially to 3.2%. Noninterest income grew 24% on the back of healthy traction in forex income and recovery from written-off loan accounts. Growth in fee income was muted at 6%. Operating expenses grew 17% as the bank provided for a wage hike. Deposits grew at a healthy rate of 17%, with the CASA (current account savings account) deposit ratio improving 84bps on a sequential basis to 31.3%. NRE deposits grew 29%, shrugging off market fears. Credit off-take was moderate at 10% on account of muted growth in corporate and gold loans. We have cut our ABV estimates by 3% each for FY16/FY17. We have retained Buy rating on Federal Bank with a target price of Rs89, valuing the stock at 1.65x P/ABV FY17E financials.
Welspun India	result marginally ahead of exp. Sales came at 1248cr vs exp 1326cr qoq 1224cr EBITDA came at 360cr vs exp 338cr qoq 344cr yoy 250cr PAT came at 163cr vs exp 156cr qoq 161 yoy 105cr
Hindustan Zinc	result ahead of exp. Sales came at 3596cr vs exp 3638cr qoq 4073 yoy 2962cr EBITDA came at 1660cr vs exp 1559cr qoq 1978 yoy 1352cr PAT came at 1921cr vs exp 1620cr qoq 1978cr yoy 1617cr
Tata Coffee	Result is not good Sales is Rs 380.1 cr vs QOQ Rs 424.4 cr YoY Rs 357.5 cr EBITDA is Rs 65.9 cr vs QoQ Rs 96.7 cr YoY Rs 80.4 cr PAT is Rs 25.4 cr vs QoQ Rs 39.4 cr YoY Rs 41.8 cr
Kitex Garments	result below exp sales came at 97cr qoq 147cr yoy 96cr EBITDA came at 30cr vs qoq 66cr yoy 27cr PAT came at 16cr vs qoq 42cr yoy 14.4cr.
LIC Housing Fin	result operationally ahead of exp but Provision also increased so overall result inline. NII came at 658cr vs exp 637cr qoq 649cr yoy 506cr PBP came at 623cr vs exp 597cr qoq 586cr yoy 497cr provision came at 44cr vs qoq 10cr yoy 9cr PAT came at 382cr vs exp 374cr qoq 378cr yoy 322cr.
Sasken	result improved qoq but flat yoy. Qtr EPS 4.62
Tinplate	company result good. Sales came at Rs.223cr vs qoq 246cr yoy 179cr EBITDA came at 42.78cr vs qoq 31.64cr yoy 32.78cr Adj PAT came at Rs.17.8cr vs qoq 12.44 yoy 10.63cr Qtr EPS Rs.1.70. At Q1 annualised EPS share is trading at 8.8 PE
Rane Brakes	result inline
Triton Valves	result ok

 

• Result to be Announced (Reported PAT Rs cr)

Companies	June’14	Mar’15	June’15 Exp	NBIE
Can Fin Homes Ltd.	19.0	22.9	26.1	#N/A
Century Plyboards (India)	25.7	48.0	40.5	#N/A
Edelweiss Financial	71.8	88.4	94.8	#N/A
Eicher Motors Ltd.	178.5	195.3	227.2	#N/A
HDFC Bank Ltd.	2233.0	2806.9	2732.2	2822.1
Hindustan Unilever Ltd.	1056.9	1018.1	1109.9	#N/A
Honeywell Automation	28.6	7.1	32.7	#N/A
Indiabulls Housing Fin	423.8	551.0	na	#N/A
Idea Cellular Ltd.	728.2	941.8	911.3	#N/A
Infosys Ltd.	2886.0	3097.0	3020.3	3073
Maharashtra Scooters	0.9	3.5	na	#N/A
Rane Engine Valve Ltd.	-0.1	27.1	na	#N/A
Sanofi India Ltd.	57.5	64.5	60.5	#N/A
Supreme Petrochem Ltd.	7.7	20.5	na	#N/A
Tata Sponge Iron Ltd.	44.3	8.6	14.3	#N/A
Welspun Corp Ltd.	-37.7	143.8	75.9	#N/A
Whirlpool Of India Ltd.	83.0	55.3	95.0	#N/A

 

 www.adamcapitalfinancial.com