Saturday, 29 April 2017

IDFC's Q4 net profit up 4%

IDFC on Friday reported a rise of 3.84 per cent in its consolidated net profit for the fourth quarter of 2016-17. The company's profit after tax stood at Rs 135 crore as compared to Rs 130 crore in the corresponding quarter of the previous fiscal. According to the company, the total operating income stood at Rs 731 crore -- up 4.88 per cent -- from Rs 697 crore earned in Q4 of 2015-16. On a yearly basis, the company reported a consolidated net profit of Rs 699 crore for the financial year 2016-17, while the net operating income stood at Rs 3,914 crore. "The Board (of Directors of IDFC) has recommended a dividend of Rs 0.25 per share,".

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Kotak Mahindra to buy out Old Mutual stake in Kotak Life

Kotak Mahindra Bank - on Friday, it has entered into an agreement to purchase the entire 26 per cent equity held by Old Mutual plc, UK, in Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life) for Rs 1,292.7 crore. In a statement issued here, Kotak Mahindra Bank said it will buy out the stakes in line with its philosophy to deepen and expand in Indian financial services sector. The deal is subject to regulatory approvals.


After the transaction is completed, Kotak Mahindra Group will hold 100 per cent of the equity shareholding of Kotak Life. Currently, the life joint venture is between Kotak Group and Old Mutual. The networth of Kotak Life stands at Rs 1,825 crore as on March 31. "Kotak Mahindra Group and Old Mutual have enjoyed a fruitful relationship over the past 16 years and built a successful and trusted brand in the life insurance industry in India. Old Mutual has been a valued business partner,"

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Ujjivan Small Finance Bank aims Rs 2,500 cr deposits in 2017-18

Ujjivan Small Finance Bank (SFB), the wholly-owned subsidiary of Ujjivan Financial Services Ltd, on Friday said it is targeting a deposit base of Rs 2,500 crore in 2017-18. In a view to serving unbanked people, the small finance bank, which commenced its operation two months ago, plans to open 30 branches soon and 171 by end of this financial year. "We target to mobilise a deposit base equal to one-third of our portfolio which is around Rs 2,500 crore in the current financial year," bank's MD and CEO Samit Ghosh told reporters here. He said the bank was adequately capitalised, and will not raise any tier-1 capital in this fiscal year. "We have a capital base of Rs 1,600 crore at present, which is more than enough... We may look at raising tier-2 capital going ahead,".

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Ambuja Cements net profit jumps 357%

Ambuja Cements Ltd, a part of the global conglomerate LafargeHolcim, on Friday reported a 357 per cent increase in its standalone net profit to Rs 247 crore for the quarter ended March 31, 2017 as compared to Rs 54 crore in the corresponding period of previous financial year. The jump in net profit was attributed to sharp reduction in depreciation and amortisation expense along tax expenditure. The company posted net sales of Rs 2,533 crore, up by 5.3 per cent in the quarter under review from Rs 2,406 crore in the year-ago period.

The earnings before interest, taxes, depreciation and amortisation (EBITDA) was at Rs 394 crore during the quarter, down 12.9 percent from Rs 452 crore last year. The cement producer said the production cost was impacted due to higher petcoke and imported coal prices and sourcing of fly ash from longer leads and increase in diesel prices led to higher freight cost.

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देश के कॉरपोरेट शासन में गंभीर खामियां : सेबी

भारतीय पूंजी बाजार नियामक सेबी ने शुक्रवार को देश के कॉरपोरेट शासन के मानकों पर चिंता जताते हुए कहा कि यहां संस्थागत निवेशकों के लिए आचार संहिता नहीं है। भारतीय उद्योग परिसंघ (सीआईआई) के वार्षिक सत्र को संबोधित करते हुए भारतीय प्रतिभूति एवं विनियामक बोर्ड (सेबी) के अध्यक्ष अजय त्यागी ने कहा, "क्या देश में कॉरपोरेट शासन प्रणाली सोतषजनक ढंग से काम कर रही है। अधिकांश लोग नहीं कहेंगे।" भारतीय संदर्भ में कंपनी के स्वामित्व आधार के अनुरूप, "50 फीसदी स्वामित्व प्रमोटर्स के पास हैं, जबकि संस्थागत निवेश बढ़ रहा है, जो आजकल 30 फीसदी है।"

उन्होंने कहा, "यदि ये शेयरधारक हैं तो उनकी जवाबदेही क्या है? हमारी धारणा यह है प्रमोटर्स संस्थागत निवेशकों को अधिक तवज्जो देते हैं और यही सबसे दुखद है।" उन्होंने कहा, "सामान्य प्रबंधन संहिता की जरूरत है। बिना किसी सक्रिय इच्छा और जवाबदेही के संस्थागत हिस्सेदारी बढ़ाने से कॉरपोरेट शासन नहीं होता।" त्यागी ने कहा, "कुछ गंभीर मुद्दे भी हैं, जिनका फिलहाल कोई समाधान नहीं है।" उन्होंने कहा कि देश में स्वतंत्र ऑडिटर्स कामकाज भी चिंता का विषय है। उन्होंने कहा, "यदि ऑडिटर्स की समिति कोई काम नहीं कर रही, स्वतंत्र निदेशक स्वतंत्र नहीं हैं और संस्थागत निवेशकों के लिए कोई आचार संहिता नहीं है तो साफ है कि व्यावस्था काम नहीं कर रही है।

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हरियाणा में आवास की 8.97 लाख आनलाइन मांग मिली

केंद्रीय शहरी विकास एवं आवास तथा शहरी गरीबी उन्मूलन और सूचना एवं प्रसारण मंत्री एम.वेंकैया नायडू ने कहा कि हरियाणा से प्रधानमंत्री आवास योजना के तहत अब तक 8.97 लाख मकानों की आनलाइन मांग आई है। मंत्री ने कहा कि केंद्र द्वारा आवास क्षेत्र में 6.5 प्रतिशत की ब्याज सब्सिडी दी जा रही है। नायडू ने यहां मीडिया से कहा, "न्यू इंडिया के निर्माण के लिए तीव्र गति से और सर्वागीण विकास हमारा उद्देश्य है।" नायडू ने शहरी विकास एवं आवास और शहरी गरीबी उन्मूलन मंत्रालय के तहत हरियाणा में क्रियान्वित की जा रही विभिन्न योजनाओं की प्रगति की समीक्षा की।


उन्होंने सूचना एवं प्रसारण मंत्रालय के क्षेत्रीय अधिकारियों से स्थानीय भाषा में और ज्यादा संवाद करने तथा क्षेत्रीय संस्कृति एवं प्रतिभा पर कार्यक्रम तैयार करने को कहा। उन्होंने कहा, "देश में अपेक्षाओं एवं विकास का एक नया परिदृश्य उभर कर सामने आ रहा है। नायडू ने यह भी कहा कि यह सरकार प्रदर्शन, प्रतिस्पर्धा एवं सुधारों को प्रोत्साहित कर रही है, जो देश को नई ऊंचाइयों पर ले जाएगा।" अधिक जानकारी के लिए क्लिक करे -- http://www.ripplesadvisory.com/nifty-future-.php

आईडीएफसी का चौथी तिमाही में शुद्ध लाभ 4 फीसदी से ज्यादा

आईडीएफसी ने शुक्रवार को 2016-17 की चौथी तिमाही में अपने समेकित शुद्ध लाभ में 3.84 फीसदी की वृद्धि दर्ज की है। कंपनी का कर के बाद लाभ बीते वित्त वर्ष की इसी अवधि के 130 करोड़ रुपये की तुलना में 135 करोड़ रुपये रहा। कंपनी के अनुसार, वित्त वर्ष 2015-16 की चौथी तिमाही के 697 करोड़ रुपये की तुलना में कंपनी की कुल परिचालन आय 731 करोड़ रुपये रही। इसमें 2015-16 की तुलना में 4.88 फीसदी से ज्यादा की वृद्धि रही। वार्षिक आधार पर कंपनी ने वित्त वर्ष 2016-17 में समेकित शुद्ध लाभ 699 करोड़ रुपये दर्ज किया, जबकि शुद्ध परिचालन आय 3,914 करोड़ रुपये रही। एक बयान में आईडीएफसी के निदेशकों के बोर्ड ने 0.25 रुपये प्रति शेयर लाभांश की सिफारिश की है।

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रक्षा विनिर्माण नीति जल्द : जेटली

केंद्रीय वित्त और रक्षा मंत्री अरुण जेटली ने शुक्रवार को कहा कि सकार जल्द ही घरेलू रक्षा विनिर्माण को प्रोत्साहन देने के लिए एक नीति लाएगी और सैन्य उपकरणों का आयात घटाएगी। भारतीय उद्योग परिसंघ (सीआईआई) के वार्षिक सत्र में जेटली ने कहा, "भारत दुनिया का सबसे बड़ा हथियार आयातक है। यह रक्षा पर अपनी जीडीपी का कोई 1.8 फीसदी खर्च करता है। यह करीब 70 फीसदी रक्षा उपकरणों का आयात करता है, सरकार इस स्थिति को बदलना चाहती है।"

उन्होंने कहा, "हम एक नीति बनाने की प्रक्रिया में काफी आगे बढ़ चुके हैं, जिसके जरिए हम प्रौद्योगिकी क्षमता के बल पर और अन्य समझौतों के जरिए सिर्फ खरीदार बनने के बदले देश को एक विनिर्माण अर्थव्यवस्था बना सकते हैं।" उन्होंने कहा, "घरेलू और अंतर्राष्ट्रीय उद्योग से जो प्रतिक्रिया हमें मिली है, वह उत्साहित करने वाली है।" भारत ने 2025 तक करीब 250 अरब डॉलर रक्षा उपकरणों पर खर्च करने का लक्ष्य बनाया है। विनिर्माण के विषय पर जेटली ने कहा कि विकसित दुनिया के संरक्षणवादी रुझानों के समय में यदि देश अपने विनिर्माण में सुधार कर ले तो भारत वैश्विक तौर पर प्रमुख प्रस्तावक बन सकता है।

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अक्षय तृतीया पर आभूषण दुकानों में उमड़ी भीड़

नोटबंदी के बाद देश में नगदी प्रवाह सामान्य होने के बाद देश भर में अक्षय तृतीया के अवसर पर आभूषणों की दुकानों पर शुक्रवार को लोगों की भारी भीड़ उमड़ पड़ी है। नोटबंदी के बाद पिछले दो महीनों से लोगों ने फिर से सोने की खरीददारी शुरू कर दी है। इस अक्षय तृतीया को खरीददारी पिछले साल के मुकाबले कीमतें समान होने के बावजूद 40 प्रतिशत बढ़ेगी।

राष्ट्रीय राजधानी में शुक्रवार को 24 कैरेट शुद्धता वाले सोने की कीमत 29,000 रुपये प्रति 10 ग्राम के आसपास रही। अक्षय तृतीया हिंदुओं और जैनों के लिए पवित्र दिन है और इसे अच्छी किस्मत और सफलता लाने वाला माना जाता है। इस शुभ दिन को सोने के आभूषणों को खरीदकर घर लाया जाता है। अक्षय तृतीया पर सोने की भारी बिक्री मुंबई के आभूषणकर्ताओं के लिए भी मुस्कान लेकर आई है। शुक्रवार सुबह से ही खुदरा दुकानों पर लोगों की भारी भीड़ इस प्रचलित त्योहार को मनाने के लिए देखी गई।

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Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive.

The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the son of a train station tea seller who set out plans to overhaul the world's fourth largest rail network after he took power in 2014. Modi's $133 billion, five-year programme backed by private and public investment aimed to boost passenger and freight volumes, lay new tracks, introduce modern trains and drive growth to help meet ambitious economic targets. Of that, about $32 billion, or less than 25 percent, was spent in the first two years.

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Global med-tech firms, India locked in tussle after stent price sting

NEW DELHI / MUMBAI - A group of global medical-technology companies plans to tell Indian officials next month that any further price control measures would risk future investments and make them less likely to introduce new products in the country, according to an industry source familiar with the matter.


The lobbying effort by Abbott Laboratories, Boston Scientific, Johnson & Johnson and others comes after the government of Prime Minister Narendra Modi in February set a price cap for stents - small wire-mesh structures used to treat blocked arteries - slashing prices that patients pay for some devices by about 75 percent.

That has sparked a growing showdown between the companies and Modi's government in India, where the "med-tech" sector is worth $5 billion. Abbott and Medtronic filed for withdrawal of some of their stents from India, but the government on Wednesday rejected their request, saying it contravened the nation's drug laws.

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Asian stocks tick up, euro subdued as ECB maintains easing bias

Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus programme. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, putting it on pace to end the week up 1.9 percent, which would be its best week in six. Earlier in the week, it hit an almost two-year high.


Japan's Nikkei fell 0.1 percent as March industrial output and household spending fell more than expected and consumer inflation remained tepid. But the index was poised for a 3.3 percent weekly gain, its strongest since November. Maximise your experience more in Stocks which means you a lot if you are a Financial Trader click here and subscribe us Free for two days click here to get >> http://www.ripplesadvisory.com/nifty-future-.php

Indian ADRs: Dr Reddy's Lab, Infosys, Tata Motors up

Indian ADRs ended mostly higher on Friday. In the IT space, Infosys rose 0.07 percent at USD 14.57 and Wipro was up 0.08 percent at USD 9.83. In the banking space, ICICI Bank fell 0.09 percent at USD 8.45 and HDFC Bank slipped 0.90 at USD 80.05. In the other sectors, Tata Motors added 0.24 percent at USD 35.54 and Dr Reddy's Laboratories gained 0.26 percent at USD 40.70.

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Wall Street slips on weak GDP data, but indexes rise in April

Stocks edged lower on Wall Street on Friday after data showing the US economy grew at its weakest pace in three years in the first quarter gave traders a reason to cash recent gains. Major indexes closed up for April, however, with the Nasdaq up for six consecutive months, the longest streak in nearly four years.


Gross domestic product grew at a 0.7 percent annual rate, below the 1.2 percent rise estimated by economists, as consumer spending barely increased and businesses invested less in inventories. The economy grew at a 2.1 percent pace in the fourth quarter.

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Friday, 28 April 2017

Closing bell- Sensex loses 111 pts, Nifty manages to hold 9300 amid profit booking

Equity benchmarks closed lower on profit booking as the Sensex failed to hold 30000 level on weekly basis. The 30-share BSE Sensex was down 111.34 points at 29,918.40 and the 50-share NSE Nifty fell 38.10 points to 9,304.05. SBI, ONGC, Maruti Suzuki, ICICI Bank, Asian Paints, Adani Ports and Sun Pharma gained 1-3 percent while ITC, HDFC Bank, HDFC, Reliance Industries and TCS lost 1-2 percent.

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भारत-इटली के बीच नई व्यापारिक साझीदारी की शुरुआत होगी

भारत और इटली के बीच संयुक्त आर्थिक आयोग की आठ साल के अंतराल के बाद रोम में मई में बैठक होगी। इसकी घोषणा यहां गुरुवार को की गई। बीते कुछ सालों में संबंधों में तनाव के बाद भारत और इटली के बीच संबंध बहाली के रास्ते पर हैं। भारत दौरे पर आए इटली के आर्थिक विकास उप मंत्री इवान स्कालफरोटो ने इटली-भारत बिजनेस फोरम में कहा कि मई के मध्य में होने वाली संयुक्त आयोग की बैठक में भारतीय वाणिज्य मंत्री निर्मला सीतारमण प्रतिनिधिमंडल की अगुवाई करेंगी।

स्कालफरोटो 140 सदस्यीय प्रतिनिधिमंडल के प्रमुख हैं, जो भारत आया हुआ है। इसमें इटली की 60 कंपनियों के प्रतिनिधि शामिल हैं। इस दल का मकसद द्विपक्षीय व्यापार और निवेश के संबंधों को बढ़ावा देना है। इनरिका लेक्सी मामले में 2012 में दो इतालवी नौसैनिकों के हाथों केरल के दो मछुआरों की मौत के बाद द्विपक्षीय संबंध प्रभावित हुए थे। इटली के राजदूत लोरेन्जो एंजेलोनी ने कहा, "भारत-इटली व्यापार फोरम दोनों देशों के बीच एक नई साझेदारी की शुरुआत है और इसमें ज्ञान और अनुभव की साझेदारी भी शामिल है।"

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Reliance Capital Q4 net at Rs 417 crore

Reliance Capital, a Reliance Group company, on Thursday said it closed the fourth quarter of the 2016-17 fiscal with a consolidated net profit of Rs 417 crore as against Rs 415 crore during the corresponding period of the previous year. According to the company, its total income for the last quarter stood at Rs 5,086 crore, up from Rs 2,828 crore earned during the corresponding period of previous year. The company said the fourth quarter net profit stood at Rs 460 crore prior to strengthening of the reserves in Reliance General Insurance (Rs 43 crore).


As on March 31, 2017, the net worth of the company stood at Rs 16,548 crore -- an increase of eight per cent, while its total assets as on the date stood at Rs 82,209 crore -- an increase of 22 per cent. For the fiscal, Reliance Capital earned a total income of Rs 17,640 crore, up from Rs 9,998 crore earned last fiscal. The net profit for the fiscal stood at Rs 1,086 crore as against Rs 1,101 crore posted last fiscal. According to the company statement, the proposed dividend has been increased to Rs 10.50 per share. Group companies have also logged growth in business last year.

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Growth in FMCG demand in rural areas to be double digit

The rural demand for fast moving consumer goods (FMCG) will likely to have a double digit growth with a good monsoon.The real estate demand, particularly the residential segment, will start picking from July onward and the Group will focus on affordable housing segment. "If the monsoon is good, the agricultural economy is expected to grow 4 per cent and rural economy will grow little more as there are others parts of the rural economy. I expect the demand growth in rural India for FMCG products should be double digit".

last monsoon was good and demand in rural area for FMCG products has been quite good over the last year. Two monsoons prior to that were poor and that had impacted the rural demand. Input costs have come down in the last couple months. "Input costs are reasonably under control and I do not see much price increase in FMCG sector over the next 12 months,". low Goods and Services tax (GST) rates will be critical to the sector.

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HIL net up 37.5 per cent in 2016-17

HIL Ltd of C.K. Birla group has posted Rs 54.6 crore net profit for fiscal 2016-17, registering 37.5 per cent annual growth from Rs.39.7 crore year ago. In a regulatory filing on the BSE on Thursday, the city-based infrastructure and manufacturing major said net sales or income from operations for the fiscal under review at Rs 1,054 crore was 3.8 per cent lower than Rs 1,096 crore in the previous fiscal (FY 2016). For the fourth quarter of the fiscal, net profit grew 31 per cent over last year to Rs.5.86 crore from Rs.4.49 crore in same quarter year ago.

Net sales for the quarter under review (Q4), however, was muted (0.7 per cent) lower at Rs 257 crore from Rs 259 crore in the like period year ago. Sequentially, net profit declined 27 percent from Rs 8.06 crore in the third quarter while net sales grew 29 per cent from Rs 199 crore. The company's Board of Directors recommended final dividend of Rs 10 per share of Rs 10 face value, same as for interim dividend on January 16, resulting in a total dividend of Rs 20 per share (200 percent) for the fiscal under review.

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Biocon net declines 62% in Q4

India's biotechnology major Biocon Ltd has posted Rs 127 crore consolidated net profit for the fourth quarter (January-March) of fiscal 2016-17 as against Rs 333 crore in the same period year ago, registering a whopping decline of 62 per cent year-on-year (YoY). In a regulatory filing on the BSE on Thursday night, the city-based pharmaceutical company said consolidated revenue for the quarter (Q4) under review was muted at Rs 974 crore as against Rs 973 crore in like period year ago.

Ebitda (earnings before interest, tax, depreciation and amortisation), however, grew 5 per cent YoY to Rs 231 crore from Rs 221 crore in like quarter year ago. Sequentially or quarter-on-quarter (QoQ), net profit in Q4 (Rs 127 crore) was 26 per cent lower YoY from Rs 171 crore in the third quarter (October-December). Revenue too in Q4 (Rs 974 crore) was 11 per cent lower QoQ from Rs 1,092 crore in the third quarter (Q3) and Ebitda (Rs 231 crore) was 29 per cent lower YoY from Rs 324 crore in Q3. For the fiscal under review (FY 2017), consolidated net profit grew 11 per cent YoY to Rs 612 crore from Rs 550 crore in fiscal 2015-16 (FY 2016).

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Negative global cues pull Indian equities lower

Negative global cues and heavy selling pressure in banking and FMCG goods pulled the Indian equity markets lower during the early morning trade session on Friday. The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 32.65 points or 0.35 per cent to 9,309.50 points. The barometer 30-scrip BSE Sensex, which opened at 30,064.60 points, traded at 29,954.74 points down 75 points or 0.25 per cent from its previous close at 30,029.74 points.

The Sensex has so far touched a high of 30,067.64 points and a low of 29,936.09 points during the intra-day trade. However, the BSE market breadth was marginally tilted in favour of the bulls -- with 737 advances and 478 declines. On Thursday, the benchmark indices scaled fresh record highs, but selling pressure triggered by profit bookings dragged them to closing in the red. The NSE Nifty inched down by 9.70 points or 0.10 percent to close at 9,342.15 points, while the BSE Sensex closed at 30,029.74 points -- down 103.61 points or 0.34 percent.

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Intel's revenue misses estimates as data centre growth slows

Intel Corp reported lower-than-expected quarterly revenue due to an unexpected slowdown in growth at its data centre business, on which the world's largest chipmaker is banking to reduce its reliance on the personal computer market. The company's shares fell nearly 4 percent to $35.97 in trading after the bell on Thursday. Revenue from Intel's higher-margin data centre business rose 6 percent to $4.2 billion in the first quarter. That was less than the 9 percent jump a year-ago and the 8 percent increase in the fourth quarter. Analysts were expecting revenue to increase 10 percent to about $4.4 billion, according to FactSet StreetAccount. The slowdown in revenue growth comes after Intel warned in February that business's margins could be hit by higher costs.

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Microsoft Surface sales sink, shares dip

Microsoft Corp slightly missed Wall Street's average revenue estimate for the latest quarter on Thursday, as sales of its Surface tablets and laptops slumped in the face of revamped competition in the personal computer market. Shares of the world's largest software company fell 0.6 percent to $67.85 in trading after the bell.


Under Chief Executive Satya Nadella, who took the helm in 2014, Microsoft has sharpened its focus on the fast-growing cloud computing unit to counter a prolonged slowdown in the PC market, which has weighed on demand for its Windows software. That transition remained on track, with cloud margins improving and the company's annual commercial cloud revenue run rate - a bespoke metric closely watched by analysts - reaching $15.2 billion, a 50 percent year-on-year improvement. It marks good progress towards its goal of pushing the figure to $20 billion by 2020.

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Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive. The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the son of a train station tea seller who set out plans to overhaul the world's fourth largest rail network after he took power in 2014.


Modi's $133 billion, five-year programme backed by private and public investment aimed to boost passenger and freight volumes, lay new tracks, introduce modern trains and drive growth to help meet ambitious economic targets. Of that, about $32 billion, or less than 25 percent, was spent in the first two years. Some rail officials say it takes longer for investments to bear fruit, but nearly half way through the plan, the sector's performance has deteriorated according to some key measures.

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Amazon revenue soars as cloud, retail businesses dominate

Amazon.com Inc's retail and cloud-computing sales rose in the first quarter, inching above Wall Street's expectations and sending the company's shares to an all-time high in extended trading. The world's largest online retailer said on Thursday net sales rose 23 percent to $35.7 billion, just beating analysts' average estimate of $35.3 billion, according to Thomson Reuters I/B/E/S.

More fees from Amazon's Prime shopping club and media streaming services, along with growing advertising revenue, also boosted results. Profit, which has traditionally been fleeting at a company that focused on growth, was also ahead of expectations. Net income rose 41 percent to $724 million, or $1.48 per share, marking the eighth straight quarter that the company posted a net profit. Analysts on average were expecting $1.12 per share.

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Earnings lift Nasdaq to record; Amazon, Alphabet up after hours

The Nasdaq Composite ended at a record high on Thursday, boosted by results-related gains in Comcast, PayPal and Intuit, while the S&P 500 and the Dow were little changed. The tech-heavy index is likely to extend its record-breaking string of gains as heavyweights Amazon and Alphabet jumped more than 4 percent each after the bell, following stellar earnings. Earnings were back in the spotlight, a day after the Trump administration unveiled its tax reform priorities without details on how the reform would be paid for, raising questions on whether deficit hawks in Congress would support it.

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Indian ADRs: Tata Motors, HDFC Bank, Wipro up

Indian ADRs ended mostly higher on Thursday. In the IT space, Infosys was down 0.04 percent at USD 14.50 and Wipro was up 0.06 percent at USD 9.75. In the banking space, ICICI Bank gained 0.01 percent at USD 14.50 and HDFC Bank added 0.49 percent at USD 80.95. In the other sectors, Tata Motors rose 0.64 percent at USD 35.30 and Dr Reddy's Laboratories shed 0.84 percent at USD 80.95.

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Asian stocks tick up, euro subdued as ECB maintains easing bias

Asian stocks inched higher on Friday and looked set to close a strong week on a positive note, while the euro slipped after the European Central Bank showed no signs of paring its stimulus programme. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent, putting it on pace to end the week up 1.9 percent, which would be its best week in six. Earlier in the week, it hit an almost two-year high.

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Indian rupee gains overnight, opens at 64.11/$

The rupee opened stronger against the dollar on Friday, appreciating overnight to 64.11, 4 paise higher than its previous close. Market participants said that the risk-on sentiment that gripped the market after the conclusion of the first round of the French presidential elections seems to have abated, albeit temporarily.


“The positive risk tone after the first round of French elections, appears to be taking a breather, after the mostly anticipated US tax cut plans and somewhat dovish ECB,” Nothing in any business is Risk Free but in Stock Market we can make you to work with lesser risk to make it happen what you want with simple click here >> http://www.ripplesadvisory.com/nifty-future-.php

Expect USD-INR to trade between 63.80-64.30

"The positive risk tone after the first round of French elections, appears to be taking a breather, after the mostly anticipated US tax cut plans and somewhat dovish ECB." "The USD-INR pair after briefly trading below 64, has seen some strong intervention and settled above that level. We expect the pair to trade in a range of 63.80-64.30/dollar today". "The bond yields have been consolidating around current levels, with the 10-year yield trading around 6.95 percent ahead of the scheduled auction today. We expect the 10-year yield to trade in a range of 6.93-6.96 percent today,"

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Thursday, 27 April 2017

शेयर बाजारों के शुरुआती कारोबार में गिरावट

देश के शेयर बाजारों के शुरुआती कारोबार में गुरुवार को गिरावट का रुख है। प्रमुख सूचकांक सेंसेक्स सुबह 9.55 बजे 22.97 अंकों की गिरावट के साथ 30,110.38 पर और निफ्टी भी लगभग इसी समय 4.60 अंकों की गिरावट के साथ 9,347.25 पर कारोबार करते देखे गए। बम्बई स्टॉक एक्सचेंज (बीएसई) का 30 शेयरों पर आधारित संवेदी सूचकांक सेंसेक्स सुबह 8.04 अंकों की मजबूती के साथ 30,141.39 पर, जबकि नेशनल स्टॉक एक्सचेंज (एनएसई) का 50 शेयरों पर आधारित संवेदी सूचकांक निफ्टी 7.30 अंकों की बढ़त के साथ 9,359.15 पर खुला।

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GIC Housing Fin Q4 net jumps 24% at Rs 47 cr

GIC Housing Finance has reported a 24.4 per cent increase in net profit at Rs 46.61 crore for the fourth quarter ended March 31, 2017. The company had reported net profit of Rs 35.87 crore for the same period of 2015-16, the company said in a regulatory filing. Total income during the quarter rose to Rs 266.63 crore as against Rs 233.48 crore in the same quarter of preceding fiscal 2015-16. For full fiscal 2016-17, GIC Housing Finance reported an increase of 18.7 per cent to Rs 147.73 crore, from Rs 124.50 crore a year earlier.


Total income during the fiscal rose to Rs 1,001.74 crore compared to Rs 876.37 crore. Gross assets of the company at the end of March 2017 was at Rs 9,404.49 crore, as against Rs 8,021.38 crore a year ago. The board of directors of the company has recommended a dividend of Rs 5 per share for 2016-17. The company's main business is to provide loans for purchase or construction of residential units. Meanwhile, shares of the company were trading at Rs 510.65 apiece, up 0.98 per cent from the previous close at 11:30 hours on BSE.

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Infosys launches next generation AI platform

Infosys, a global leader in consulting, technology, outsourcing and next-generation services, has said that it has launched Infosys Nia, the next-generation Artificial Intelligence Platform building on the success of the Company’s first-generation AI platform, Infosys Mana, and its Robotic Process Automation (RPA) solution, AssistEdge. “Together, both these products have amassed 50+ clients and 150+ engagements across all industry sectors, within a year of operations.

Infosys Nia converges the big data/analytics, machine learning, knowledge management, and cognitive automation capabilities of Mana; end-to-end RPA capabilities of AssistEdge; advanced, high-performance and scalable machine learning capabilities of Skytree; and optical character recognition (OCR), natural language processing (NLP) capabilities and infrastructure management services,” the company said in a filing to the Bombay Stock Exchange.

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Key Indian equity market indices open flat

Taking a cue from global markets, the key Indian equity market indices on Thursday opened flat. The Sensitive Index (Sensex) of the BSE, which had closed at 30,133.35 points on Wednesday, opened higher at 30,141.39 points. Minutes into trading, it was quoting at 30,147.94 points, up by 14.59 points, or 0.05 percent. At the National Stock Exchange (NSE), the broader 51-scrip Nifty, which had closed at 9,351.85 points, was quoting at 9,359.15 points, up by 7.30 points or 0.08 percent.

Positive global cues and optimism over the upcoming quarterly earning results pushed the Indian equity markets to new closing highs on Wednesday. Apart from positive global cues, appreciation in the rupee supported the rally in equity markets. The Sensex was up by 190.11 points or 0.63 per cent at the Wednesday's closing. In the day's trade, the barometer 30-scrip sensitive index had touched a high of 30,167.09 points and a low of 29,968.57 points. The Nifty was up by 45.25 points or 0.49 percent.

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Reliance GCX-Alibaba arm to offer cloud solutions

Reliance Communications' subsidiary Global Cloud Xchange (GCX) and Alibaba Cloud will jointly offer cloud solutions to enterprises through the latter's Cloud Express Connect via GCX's Cloud X Fusion in Singapore, said GCX on Wednesday. The GCX and Alibaba Cloud -- the cloud computing arm of Alibaba Group -- signed an agreement at the Alibaba's Cloud Computing Conference at Nanjing in China to drive business opportunities of enterprise customers.


"As the Cloud revolution continues and innovation becomes rapid, we see an exponential growth in connectivity requirements and infrastructure," said GCX Chief Executive Officer Bill Barney in a statement here. As part of the agreement, the GCX will provide the Alibaba Cloud secure and low latency solutions across its global subsea network infrastructure, which covers major e-commerce hubs worldwide, according to the agreement.

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Axis Bank`s Q4 net profit down 43%

Lending major Axis Bank on Wednesday reported a decline of 43.13 per cent in its net profit for the fourth quarter (Q4) of Fiscal 2016-17. The company's net profit decreased to Rs 1,225.10 crore from Rs 2,154.28 crore reported in the fourth quarter of 2015-16. "The Bank's net interest income (NII) grew 4 per cent YOY to Rs 4,729 crore during Q4FY17 from Rs 4,553 crore in Q4FY16," the lender said in a statement.

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RIL partners with Resysta to bring wood alternative in India

Reliance Industries Ltd (RIL) on Wednesday said it has entered into a licence agreement with Germany based Resysta International GmbH, which gives RIL the exclusive rights of production and marketing of a natural fibre polymer composite (NFPC) in India. "Through this strategic partnership with Resysta, RIL is looking forward to produce the RelWood compound exclusively in order to meet the fast-growing demand of real alternative to tropical wood," said Vipul Shah, COO Petchem, RIL.


This compound will be the raw material for the production of sheets and various profiles used in a wide range of wood plywood replacement applications. The German company succeeded where many others failed by developing a weather and water-resistant material which has the look and feel of wood, which is not affected by termites, does not splinter or rot over time, is obtained using a renewable resource and is fully recyclable, a statement said.

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Tata Motors to use two technologies for BS IV norms

Automobile major Tata Motors Ltd. on Wednesday said it is ready with Selective Catalytic Reduction (SCR) and Exhaust Gas Recirculation (EGR) technologies for BS IV compliant engines for its commercial vehicles. In a statement issued here, Tata Motors said EGR technology adopted by Tata Motors in 2010 will continue to power small-to-medium category of commercial vehicles with engine power requirements up to 180HP.


Additionally, Tata Motors has adopted the SCR technology since 2014 for its Medium and Heavy-Duty Commercial vehicles ranging from 130HP to 400HP. Tata Cummins Ltd, a joint venture between Tata Motors and US-based Cummins Inc., has developed these engines. While EGR is a relatively low cost, simple, and easy to integrate technology, SCR can be scaled up further to meet the stringent BS VI emission standards, the company said.

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NSE's listing may 'take some time' - regulator

MUMBAI - The initial public offering of exchange operator NSE Ltd will "take some time" after the company disclosed potential instances of unfair access by some brokers to its servers, the new chairman of India's capital markets regulator said on Wednesday. Ajay Tyagi, who took over as chairman of the Securities and Exchange Board of India on March 1, declined to provide specifics or a timeframe for when the IPO would be approved, during a news conference in Mumbai. NSE, India's biggest exchange, filed an application in late December for an IPO that bankers have estimated could raise as much as $1 billion, but SEBI has yet to give its approval.

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India's antitrust watchdog orders probe into Roche cancer drug

MUMBAI - India's antitrust regulator has ordered a probe into Swiss drugmaker Roche for allegedly using anti-competitive practices to restrict cheaper copies of a blockbuster cancer drug from reaching patients. Trastuzumab has been a mainstay of Roche's profit for years and brought in global sales of about $6.7 billion in 2016, but it has been challenged in the last three years by biosimilars which are sold at about a 25 percent discount to the original.


India's Biocon and U.S. firm Mylan, which together sell biosimilars of the drug in over a dozen countries including India, filed a complaint with the Competition Commission of India (CCI) last year alleging Roche misled doctors and regulators to thwart competition to trastuzumab. India, with among the highest number of cancer patients in the world, is a big market for trastuzumab, which is indicated to treat certain forms of breast and gastric cancer.

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USD-INR to trade in 63.90-64.20 range

"Global equity markets are continuing to rally reflecting risk-on sentiment. Asian currencies are also rallying on the back of the equity market rally." "The rupee is gaining with strong custodial flows and we expect the USD-INR pair to trade in a range of 63.90-64.20/dollar for the day," he added.

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Asian shares retreat from highs after Trump tax plan

Asian shares ticked down from a near two-year high on Thursday after a long-awaited US tax plan failed to inspire investors, though sentiment remains supported by global growth prospects and receding worries about political risks in Europe. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.1 percent after hitting its highest level since June 2015 on Wednesday. Japan's Nikkei dipped 0.3 percent.

US President Donald Trump proposed slashing tax rates for businesses to 15 percent from the current 35 percent for public corporations and 39.6 percent for small businesses, and on overseas corporate profits returned to the country.

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Indian ADRs: Tata Motors, Dr Reddy's Lab, HDFC Bank gain

Indian ADRs ended higher on Wednesday. In the banking space, ICICI Bank added 0.16 percent at USD 8.53 and HDFC Bank rose 0.51 percent at USD 8.53 In the IT space, Infosys gained 0.11 percent at USD 14.54 and Wipro shed 0.09 percent at USD 9.69. In the other sectors, Tata Motors was up 0.48 percent at USD 34.66 and Dr Reddy's Laboratories advanced 0.37 percent at USD 41.28. 

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Wall Street ticks lower as Trump tax priorities unveiled

US stocks ticked lower on Wednesday following two sessions of strong gains as strong corporate earnings were offset by uncertainty over the feasibility of a proposed business tax cut. The proposal from the Trump administration slashes tax rates for businesses and on overseas corporate profits returned to the country. It offered no specifics on how it would be paid for without increasing the deficit. Free Trials for two days in Financial Market click here to subscribe us >> http://www.ripplesadvisory.com/nifty-future-.php