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Stocks In News

 

FUTURE LIFESTYLE FASHION

Flipkart in talks to buy 8-10% stake

Mgmt met last week in mumbai to discuss the deal

Promoters own 60.6%, of which 49% pledged as debt collateral

11.43% stake held by Azim Premji's Premji-Invest

Biyani to ask for significant premium to CMP

Primary issuance, to use proceeds to fund expansion plans

Economic Times Report

SHREE RENUKA

Fires 900 Employees in Brazil Sugar Mill

Returns most land used to lease to plant cane to owners

Reuters

POWER GRID

Successful Bidder for ERSS-XXI Scheme

To establish ERSS-XI on Build-Own-Operate & Maintain Basis

To establish 3 400 KV substations, 400 KV transmission lines

CLARIS LIFESCIENCES

RBI hikes FPI investment limit to 49%; NRI limit at 24%

GNFC

To List GDRs on Luxembourg Exchange on December 12

GRASIM

Sign MoU with Gujarat Government to invest Rs 4,100 Cr

Plan to set up man made fibre plant in Vilayat GIDC

New plant will employ 1300 people directly and indirectly

Financial Express Reports

JBF INDUSTRIES

In Discussion with RIL, Others Over Potential Stake Sale

Talks Helmed by KKR which holds 20% stake

Mint Reports

ICICI LOMBARD Q2 REVIEW

GDPI Up 18.2% At Rs 3,173 Cr Vs Rs 2,685 Cr

PAT up 19.3% at Rs 204 Cr Vs Rs 171 Cr

RoE at 20.2% Vs 20%

Combined Ratio At 102.8% Vs 108.6%

 

NUCLEUS SOFTWARE Q2 REVIEW

Net Sales up by 5.06% at Rs 100.44 Cr Vs Rs 95.60 Cr

EBITDA down by about 1.7% at Rs 22.03 Cr Vs Rs 22.4 Cr

EBITDA Margin down by 150 bps at 21.9% Vs 23.4%

Net Profit up by about 1.5% at Rs 15.66 Cr Vs Rs 15.43 Cr

TATA SPONGE IRON Q2 REVIEW

Net Sales up 9% at Rs 167 Cr Vs Rs 153 Cr

EBITDA up 67% at Rs 43.8 Cr Vs Rs 26.2 Cr

EBITDA Margin up 910 Bps at 26.2% Vs 17.1%

Net Profit up 72% at Rs 27.6 Cr Vs Rs 16 Cr

BLUE DART Q2 REVIEW

Net Sales up by 5.9% at Rs 702.83 Cr Vs Rs 663.22 Cr

EBITDA marginally up by about 0.9% at Rs 82.55 Cr Vs Rs 81.8 Cr

EBITDA Margin down 60 bps at 11.7% Vs 12.3%

Net Profit down 3.3% at Rs 41.39 Cr Vs Rs 42.80 Cr

BAJAJ HOLDING Q2 REVIEW

Total Revenue down 0.4% at Rs 266.9 Cr Vs Rs 267.9 Cr

PAT up 19.5% Rs 834.3 Cr Vs Rs 697.9 Cr

CRISIL Q3 REVIEW

Total Revenue up 5.6% at Rs 410.4 Cr Vs Rs 388.8 Cr

EBITDA down 2.5% at Rs 112.7 Cr Vs Rs 115.6 Cr

EBITDA Margin at 27.5% Vs 29.7%

PAT down 1% Rs 69.4 Cr Vs Rs 70 Cr

  • SENSEX

    32,488.12 121.04   (-0.37 %)
  • NIFTY

    10,191.90 42.55   (-0.42 %)
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Underwhelming performance from Wipro in Q3: Quant Global

News In Brief

 

    UnitedHealth sets 2018 forecast at current consensus

    New York: UnitedHealth Group’s new CEO Dave Wichmann said on Tuesday that the company expects 13 to 16 percent growth in 2018 earnings per share and put the high end of its anticipated range at the current market consensus. 

    According to Thomson Reuters I/B/E/S, analyst consensus is $10.87 per share. Wichmann said that the expected reinstatement of the industry-wide health insurance tax of 3 percent in 2018 represents about 75 cents per share in earnings growth headwinds.

    (Reuters)

    Wall Street flat at open

    New York: Wall Street opened flat on Tuesday as upbeat earnings from big investment banks Goldman Sachs and Morgan Stanley failed to fuel the optimism that has led the major indexes to record highs.

    The Dow Jones Industrial Average .DJI rose 15.01 points, or 0.07 percent, to 22,971.97. The S&P 500 .SPX lost 0.5 points, or 0.01 percent, to 2,557.14. The Nasdaq Composite .IXIC dropped 3.44 points, or 0.05 percent, to 6,620.57.

    (Reuters)

    Uber’s European policy chief quits, FT says

    London: Uber’s European policy chief Christopher Burghardt has quit to join the electric vehicle charging network company Chargepoint, the Financial Times reported on Tuesday, the latest senior figure to depart from the taxi app.

    Burghardt, the head of policy for Europe, the Middle East and Africa, departs after less than two years with the group, and will become managing director for Chargepoint in Europe in November, the FT said.

    (Reuters)

    Wipro second-quarter profit rises 6 percent

    Bengaluru: Wipro Ltd (WIPR.NS), India’s third-largest software services exporter, posted a six percent rise in second-quarter profit on Tuesday, helped by an uptick in its banking and financial services segment.

    Profit rose to 21.92 billion rupees ($337.5 million) in the three months ended Sept. 30, from 20.67 billion rupees in the same period a year earlier, Wipro said. Analysts on average expected the company to post a profit of 20.80 billion rupees, Thomson Reuters data showed. Bengaluru-headquartered Wipro posted revenue of 134.69 billion rupees, while revenue from core IT services was 131.69 billion rupees.

    (Reuters)

    J&J reports 11.9 percent fall in quarterly profit

    Bengaluru: Johnson & Johnson (JNJ.N), which completed its $30 billion acquisition of Swiss biotech Actelion in June, reported a 11.9 percent fall in quarterly profit as costs rose.

    The company’s net earnings fell to $3.76 billion, or $1.37 per share, in the third quarter from $4.27 billion, or $1.53 per share, a year earlier. However, the diversified healthcare company’s sales rose 10.3 percent to $19.65 billion in the quarter.

    (Reuters)

    India likely to stick to fiscal deficit target, Modi adviser says

    New Delhi: India is likely to stick to its fiscal deficit target of 3.2 percent of gross domestic product, and could accelerate sales of government stakes in banks and other companies, an economic adviser to the prime minister said on Tuesday. 

    Prime Minister Narendra Modi’s government has stuck to its fiscal deficit targets over the past three years and is expected to do so this year as well, Surjit Bhalla, a member of Modi’s Economic Advisory Council, told Reuters in an interview.

    (Reuters)

    Bajaj Auto Q2 profit falls about 1 percent

    Bengaluru: Bajaj Auto Ltd, India’s fourth biggest automaker by market capitalisation, on Tuesday reported a 1 percent fall in quarterly profit, in line with analysts’ expectations.

    Net profit for the quarter ended Sept. 30 came in at 11.12 billion rupees ($171.33 million), compared with 11.23 billion rupees last year. Analysts, on average, had expected a profit of 11.11 billion rupees, according to Thomson Reuters data. Total revenue from operations for the quarter rose about 2 percent to 65.66 billion rupees.

    (Reuters)

    HNA Group to invest $7.6 billion in tourism, digital transformation

    Beijing: China’s HNA Group Co Ltd [HNAIRC.UL] plans to invest 50 billion yuan ($7.6 billion) in tourism and digital transformation, a company executive said on Tuesday.

    Eric Tong, an HNA Group board member and Chairman of HNA Technology Group, told Reuters on the sidelines of a media event the firm will primarily focus on tourism-related investment over the long term. He did not elaborate further on the investment plans.

    (Reuters)

    Airbus shares rally after company's Bombardier CSeries deal

    Paris: Airbus shares rose on Tuesday after the European planemaker and aerospace group agreed to buy a majority stake in Bombardier’s CSeries jetliner program.

    Airbus shares were up 2.4 percent at 78.92 euros in early trading, close to a record high of 82.25 euros reached earlier this month. The shares, up by around 25 percent this year, led gainers on France’s benchmark CAC-40 index which was up 0.2 percent.

    (Reuters)

    Virgin Money reports gross mortgage lending of 6.5 billion in first nine months

    Bengaluru: British challenger bank Virgin Money (VM.L) reported gross mortgage lending of 6.5 billion pounds ($8.6 billion) to the end of the third quarter, and said it had seen robust consumer demand with low unemployment and a resilient housing market.

    Virgin Money said credit card balances were 2.89 billion pounds at the end of September, up from 2.44 billion pounds at the end of 2016. The bank, which listed on London’s main market in 2014, said it expected its full-year CET1 ratio, a closely watched measure of balance sheet strength, to be around 13.5 percent.

    (Reuters)

    ASOS raises 2018 sales guidance after strong year

    London: British online fashion retailer ASOS (ASOS.L) increased its outlook for sales growth in its 2018 financial year to 25-30 percent after it met market expectations with a 27 percent rise in retail sales in the year to end-August.

    The company, which targets fashion-conscious twentysomethings in Britain and abroad, reported full-year retail sales of 1.8 billion pounds ($2.38 billion), and pretax profit of 80 million pounds, up 145 percent.

    (Reuters)

    Modi greets nation on Dhanteras

    New Delhi: Prime Minister Narendra Modi on Tuesday greeted the nation on the occasion of Dhanteras and wished everyone good health and prosperity.

    "Dhanteras greetings to everyone," the Prime Minister tweeted. "May this day bring happiness, good health and prosperity in everyone's lives," he said.

    (IANS)

    Activist Investor RBR Capital Advisors confirms talks with Credit Suisse

    Zurich: Activist investor RBR Capital Advisors on Tuesday confirmed it has built a position in Credit Suisse (CSGN.S) and has been talking with the Swiss bank’s management.

    “We have been in contact with Credit Suisse’s leadership and we will present our views to the public shortly,” an RBR spokesman said. RBR is launching a campaign for breaking up Swiss bank Credit Suisse into three parts, the Financial Times reported earlier.

    (Reuters)

    Rupee falls by 15 paise to 64.89 against dollar in early trade

    Mumbai: The rupee dropped by 15 paise to 64.89 against the US currency in early trade today, breaking its six-day winning streak.A spurt in dollar demand from importers amid sustained foreign fund outflows weighed on the rupee.

    Dealers said the dollar's gains against some other currencies overseas also impacted the domestic currency. Yesterday, the rupee had ended at more than three-week high of 64.74 a dollar, surging by 19 paise helped by extremely bullish macro indicators. The benchmark BSE Sensex rose further by 20.77 points, or 0.06 per cent, to 32,654.41 in early trade today.

    (PTI)

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