CH Stock Market Closing Bell 03-November-2017

closing bell

Closing bell

CH CLOSING BELL:

NIFTY FUTURE UP 34 @ 10489

BANK NIFTY FUTURE UP 208 @ 25676

SENSEX UP 151 @ 33724

INR 64.61

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Sensex, Nifty Back at Morning Highs; Biocon Zooms by 7%

Nifty and Sensex closing towards their morning gains as buying is seen in Bank, Media, Metal, and Realty sectors. Pharma sector continues with its downtrend, shedding around 1% with Glenmark and Divi’s Lab losing more than 2%. However, Biocon breaks the trend, gaining by 7%.

At 12:50 PM, the S&P BSE Sensex is trading at 33,639, up by 66 points, while NSE Nifty is trading at 10,444, up by 20 points. The BSE Mid-cap Index is trading up by 0.08% at 16,738.90 whereas BSE Small-cap Index is trading up by 0.71% at 17,894.62.

Hindalco, Axis Bank, ONGC, Yes Bank, and Indusland Bank are among the gainers, whereas Hero Motocorp, Sun Pharma, Lupin, BPCL, and HCL are losing steam on NSE. Some buying seen in Telecom, Bank, Industrials, Finance sectors, whereas Energy, Healthcare, and Auto sectors show weakness on the BSE.

The India Vix is up by 1.27% at 12.15.

Out of 1,974 stocks traded on the NSE, 982 advanced, 644 declined, and 348 remained unchanged today.

A total of 93 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

Royal Orchid announces partnership with UK-based Bespoke Hotels. Stock up 4%.

United Bank cuts lending rate by 10-35 bps across all tenors w.e.f November 6.

Vakrangee to consider bonus issue on November 13.

HCC JV bags Pune Metro order.

Dena Bank seeks bids to sell off 20 NPAs worth Rs 7.47 bn.

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Punjab National Bank Q2FY18 Net Profit Rises 2%

Punjab National Bank Q2FY18

Standalone Results Q2FY18: (Rs. in crore)

Q2FY18 YoY (%)
NII 4,015 3.5
NPA (%) 13.3 [33]
Provisions 2,440 24.9
Net Profit (adjusted) 560 2.0

Punjab National bank reported its quarterly earnings today. The Q2FY18 results registered beat on street estimates. The NII for the quarter was 2.6% higher than the street estimates of Rs.3913 crore. While net profit for the quarter was 53% higher than the street estimates of Rs.366 crore

NII for the quarter rose by 3.5% yoy to Rs.4015 crore in Q2FY18 vs Rs.3879 crore in previous year corresponding quarter. This was largely aided by equal increase in interest earned and interest expended by 4% yoy each to Rs.12299 crore & Rs.8284 crore respectively for Q2FY18.

Asset quality saw major improvement for the quarter. GNPA’s & NNPAs for the quarter declined by 33bps & 66bps respectively to 13.33% & 8.44% for Q2FY18 vs 13.63% & 9.1% for Q2FY17.Also, GNPA’s for the quarter edged up by 2% yoy to Rs.57630 crore in Q2FY18 vs Rs.56465 crore in Q2FY17.

The provisions for the quarter advanced by 25% yoy to Rs.2440 crore vs Rs.1954 crore in Q2FY17. The resultant net profit for the quarter rose by 2% yoy to Rs.560 crore in Q2FY18 vs Rs.549 crore in Q2FY17.This was also aided by 5% yoy increase in other income for Q2FY18.

Advances for the quarter rose by 4% yoy to Rs.410265 crore vs Rs.393730 crore in Q2FY17.

Technical View:

Punjab National Bank is currently trading at Rs. 201.30, up by 4 points or 2.03% from its previous closing of Rs. 197.30 on the BSE.

The scrip opened at Rs. 198.50 and has touched a high and low of Rs. 208.30 and Rs. 198.50 respectively. So far 4,61,65,659(NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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PNB Board Approves Entire Stake sale in Principal PNB AMC

The board of Punjab National Bank has approved the sale of the lender’s entire stake in Principal PNB Asset Management Co and Principal

Trustee Co Pvt Ltd to the Principal group, the bank said in an exchange filing.

The stake sale is consequent to Principal Group exercising the call option on the deal.

According to information available on the bank’s website, PNB holds 21.38% stake in the asset management company and 30% stake in the trustee company. Further, the bank’s board has decided to sell partial stake in PNB Housing Finance Ltd.

The lender informed the exchanges that the housing finance arm would remain a core associate of the bank. As on Sep 30, the bank held 38.86% stake in the housing finance company.

Punjab National Bank is currently trading at Rs 200.65, up by Rs 3.35 or 1.7% from its previous closing of Rs 197.3 on the BSE. The scrip opened at Rs 198.5 and has touched a high and low of Rs 203.15 and Rs 198.5 respectively. So far 13776576(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 41984.81 crore.

PNB Housing Finance Ltd is currently trading at Rs 1445.25, up by Rs 9.2 or 0.64% from its previous closing of Rs 1436.05 on the BSE. The scrip opened at Rs 1460 and has touched a high and low of Rs 1475 and Rs 1437.6 respectively. So far 69937(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 23922.65 crore.

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Bharti Airtel off 10-yr High after Block Deal between Promoters

Bharti Airtel hit an over 10-year high of Rs 564.80 today after a large block deal on the BSE, but came off that level after investors realised that the deal was between promoter entities. The stock was up 1.2% at around 11:15 AM today.

A total of 184.7 million shares or 4.6% stake was exchanged between promoters Bharti Telecom and Indian Continent Investment at Rs 543 apiece. After completion of the proposed transaction, Bharti Telecom will hold 50.1% and Indian Continent Investment will hold 2.03% stake in Bharti Airtel.

Bharti Airtel Ltd is currently trading at Rs 548.7, up by Rs 5.6 or 1.03% from its previous closing of Rs 543.1 on the BSE.

The scrip opened at Rs 540 and has touched a high and low of Rs 565 and Rs 540 respectively. So far 195412688(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 217098.79 crore.

Bharti Airtel is a leading telecom player offering diversified telecom services, viz., wireless, fixed line, enterprise and DTH services. Airtel is India’s largest mobile operator with 24% subscriber market share and 31% revenue market share. The company's revenue has grown at 4.4% CAGR over FY13-17.

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Hathway Cable Locks in 20% Upper Limit Circuit post Q2 PAT

The stocks of Hathway Cable soared on Friday only to be locked in 20% Upper Circuit. The shares touched their 3-month high of Rs 38.15, after the company posted a net profit of Rs 14 Cr in Jul-Sep Quarter as against a loss of Rs 40.4 Cr a year ago.

Total expenditure during the quarter was at Rs 120 Cr, compared with Rs 370 Cr a year ago.

Operating margin of the company expanded to 40.15% in Q2 from 16.61% in the corresponding period last year. The stock rose for the third straight session today and has gained around 25% during the mentioned period.

Hathway Cable & Datacom Ltd is currently trading at Rs 38.25, up by Rs 6.35 or 19.91% from its previous closing of Rs 31.9 on the BSE.
The scrip opened at Rs 38.2 and has touched a high and low of Rs 38.25 and Rs 36.5 respectively.

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HCC slips by 6% post Q2 Results

Construction

Shares of Hindustan Construction Company or HCC slipped 6% after the company announced its weak Q2 Results. In a filing made to the exchanges, the company announced its Q2 results on late Thursday.

The company reported a decline in profit by 50% to Rs 11.6 Cr. In three session decline, the stock slipped by nearly 7%.

Though the revenue from operations rose to 6.5% YoY to Rs 970 Cr, the bottomline got weighed down by 90 basis point to 15.3%.

The stock managed to pull out of its intraday lows after it announced that its Joint Venture with AL FARA’A  secured an order from Maharashtra Metro Rail Corp for Pune Metro Rail Project.

Hindustan Construction Company Ltd is currently trading at Rs 38.25, down by Rs 1.15 or 2.92% from its previous closing of Rs 39.4 on the BSE.
The scrip opened at Rs 38.6 and has touched a high and low of Rs 39 and Rs 37.15 respectively.

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SSWL Bags Big Exports Order for Truck Wheels Plant; Stock up 3%

Steel Strips Wheels Ltd (SSWL) has informed exchanges that it has bagged yet another big exports order from Europe for its Truck wheels plant in Chennai.

As per the notification, the total order size is 10,000 wheels which are to be dispatched as soon as possible and the company expects to conclude a deal of 100,000 truck wheels within this month.

The total value of this deal would be over Euro 3.9 million. The company added that it is in touch with other large trailer makers in European territory and expects to get more orders in this segment in near future.

This order comes after the announcement of receipt of company’s maiden export order of 30,000 truck wheels to be supplied over next 12 months from the brand new Chennai plant which is close to the port and helps cater to the export market.

The management is keen on expanding its presence in the Truck & Trailer market in the coming months.

Steel Strips Wheels Ltd is currently trading at Rs 865.85, up by Rs 23 or 2.73% from its previous closing of Rs 842.85 on the BSE.
The stock is currently trading below its 100 DMA.

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Sensex, Nifty hold steady; RAIN Ind gains by 11%

Nifty and Sensex hold steady as buying is seen in several sectors including Telecom, Reality, Capital goods, and banks. Pharma Sector declines by 1%, with Sun Pharma and Lupin dragging the sector down.

At 11:50 AM, the S&P BSE Sensex is trading at 33,611, up by 38 points, while NSE Nifty is trading at 10,435 up by 11 points.

The BSE Mid-cap Index is trading up by 0.10% at 16,741.58 whereas BSE Small-cap Index is trading up by 0.62% at 17,879.74.

Cipla, Axis Bank, ONGC, YES Bank, and Indusland Bank are among the gainers, whereas Coal India, Sun Pharma, Lupin, BPCL, and Eicher Motors are losing steam on NSE.

Some buying seen in Telecom, Capital Goods, Reality, and Metal sectors, whereas Energy, Healthcare, Auto and IT sectors show weakness on the BSE.

The India Vix is down by 0.31% at 11.96.

Out of 1,973 stocks traded on the NSE, 980 advanced, 637 declined, and 356 remained unchanged today.

A total of 84 stocks registered a fresh 52-week high in trade today, while 12 stocks touched a new 52-week low on the NSE.

United Bank cuts lending rate by 10-35 bps across all tenors w.e.f November 6.

Vakrangee to consider bonus issue on November 13.

HCC JV bags Pune Metro order.

Dena Bank seeks bids to sell off 20 NPAs worth Rs 7.47 bn.

Bharti Airtel shares off highs as block deal between promoter companies.

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CH Stock Market Opening Bell for 3-November-2017

Opening bell

CH: OPENING BELL:

NIFTY FUTURE UP 14 @ 10469

BANK NIFTY FUTURE UP 51 @ 25520

SENSEX UP 94 @ 33667

INR 64.56

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