Hindalco Industries Q2 FY17 PAT at Rs 439.7 crore

hindlacoHindalco Industries Ltd. has announced the following Unaudited Standalone results for the quarter ended September 30, 2016:

The company has posted a net profit of Rs 439.7 crore for the quarter ended September 30, 2016 as compared to Rs 123.5 crore for the quarter ended September 30, 2015. Total Income has decreased from Rs 10,020.9 crore for the quarter ended September 30, 2015 to Rs 9,898.3 crore for the quarter ended September 30, 2016.

The company registered revenues of Rs 9,562 crore, PBITDA (Profit before Interest, Tax, Depreciation and Amortisation) was up 39% at Rs 1,493 crore and Net Profit jumped 255% to Rs 440 Crore.

Y-O-Y
• Aluminium production increased 19% to 321 KT(Kilo Tonne), significant cost efficiencies achieved across the plants.Inputs costs were largely supportive thoughcrude derivative prices hardened sequentially.
• Aluminium Value Added Products (FRP and Extrusions) – up 8%, Wire Rod Production increased 36% reflecting the Company’s focus on power and other growth sectors.
• Delivered highest ever quarterly Copper production at 106 KT,after successful planned annual maintenance shutdown. Improved efficiencies helped offset sharp decline in sulphuric acid prices.

Revenues for the quarter were broadly stable, as the impact of higher aluminium revenues was largely negated by a sharp decline in copper realisation. YOY, aluminium revenues were higher by almost 10% (excluding Utkal and Y-O-Y and if we include Utkal it is 9%)on the back of strong volume growth, however a9% drop in copper revenues negated this increase. The copper revenues declined due to decline in copper LME, along with lower premium and lower co-product prices (sulphuric acid and DAP).

The average LME (USD) for aluminium was mildly supportive (up by 2% YoY) along with a weaker Rupee; the local market premium was sharply lower (down 34%). The copper LME was lower by 10% vs. Q2FY16. Continued surge in imports of aluminium in the country also adversely affected the results.

The cost of most inputs continued to remain benign, though prices of crude derivatives increased marginally with a rise in crude prices. Coal cost increased marginally due toa decline in quality during the monsoon season. Alumina costs were also higher for standalone Hindalco as the transfer price is linked to alumina index prices, which rose sequentially. However, this price increase benefitted Utkal Alumina International Limited, the wholly owned unlisted subsidiary of the Company.

Y-O-Y, quarterly PBITDA at Rs 1,493crore was higher by 39%. This reflects a robust operational performance, not with standing the macro- economic headwinds. Depreciation and finance charges at Rs 946crore against Rs 926crorein Q2FY16 were marginally higher. Profit before tax for the quarter at Rs 547crore (before exceptional items) was much higher than that in the corresponding quarter of the previous year driven by strong operational gains.Net profit for Q2FY17at Rs 440crore, was significantly better than that in Q2FY16.

Compared to Q1FY17, Revenues from Operations were up by 17% mainly on account of higher volumes in both aluminium and copper segments.  PBITDA rose11% led by the copper segment’s enhanced performance. Sequentially, Net Profit rose 50%.

Following a notification issued by the Ministry of Coal making applicability of contribution to District Mineral Foundation effective retrospectively from 12th January, 2015, a one-time provision of Rs 60 crore has been made during the current quarter and is included in exceptional items.

Hindalco has adopted Indian Accounting Standards (Ind –AS wef. April 1, 2016 as mandated by the Ministry of Corporate Affairs. Figures for comparable period have been revised to comply with Ind-AS.

BSE 172.35 [3.10] ([1.77]%)
NSE 172.30 [3.45] ([1.96]%)

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Apollo Tyres – Announces Q2 results

Apollo Tyres – Announces Q2 results (Standalone & Consolidated) & Limited Review Report (Standalone & Consolidated) for the Quarter ended September 30, 2016

Apollo Tyres Ltd has announced the following results for the quarter ended September 30, 2016:

The Unaudited Standalone results for the Quarter ended September 30, 2016

The Company has posted a net profit of Rs. 2046.17 million for the quarter ended September 30, 2016 as compared to Rs. 2151.83 million for the quarter ended September 30, 2015. Total Income has decreased from Rs. 25307.69 million for the quarter ended September 30, 2015 to Rs. 23456.75 million for the quarter ended September 30, 2016.

The Consolidated Results are as follows:

The Unaudited Consolidated results for the Quarter ended September 30, 2016

The Group has posted a net profit after tax, minority interest and share of profit of associates of Rs. 2600.39 million for the quarter ended September 30, 2016 as compared to Rs. 2800.73 million for the quarter ended September 30, 2015. Total Income has increased from Rs. 32868.85 million for the quarter ended September 30, 2015 to Rs. 33552.49 million for the quarter ended September 30, 2016.

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Live Stock Market Updates – Sensex Ends Higher; Lupin among top Gainers

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Closing Bell:

Finally, the BSE Sensex ended with a gain of 184 points at 27,459. The BSE Sensex opened at 27,552 touched an intra-day high of 27,591 and low of 27,399.

The NSE Nifty closed with a gain of 63 points at 8,497. The NSE Nifty opened at 8,536 hitting a high of 8,535.85 and low of 8,481.

Live Market:

The Indian stock market snapped a five-day losing streak amid a rebound in Asian equities and also the FBI cleared presidential candidate Hillary Clinton of potential criminal charges in its private email server probe.

At 11:10 AM, the S&P BSE Sensex is trading at 27,511 up 237 points, while NSE Nifty is trading at 8,516 up 83 points.

The BSE Mid-cap Index is trading up 1.53% at 13,036 whereas BSE Small-cap Index is trading up 1.70% at 13,097.

Lupin, ITC, Adani Ports, SBI and Tata Steel are among the gainers, whereas Asian Paints, HUL, TCS, Wipro and Bajaj Auto are losing sheen on NSE.

All the BSE sectoral indices were trading in the positive territory.

The INDIA VIX is down 2.12% at 16.4900. Out of 1,876 stocks traded on the NSE, 226 declined, 1,131 advanced and 319 remained unchanged today.

A total of 17 stocks registered a fresh 52-week high in trade today, while six stocks touched a new 52-week low on the NSE.

PNB Housing Finance shares got listed at Rs 863, a 11.35% premium over the issue price of Rs 775.The stock got listed on NSE at Rs 860, up 10.97%.

Lupin soared 7% after the company has received the inspection closure report from the USFDA for its Goa facility.

Punjab National Bank climbed 5.8%. Punjab National Bank reported a net profit of Rs.549 crore in the second quarter of the current fiscal, a fall of 11% from the Rs 621 crore profit recorded in the corresponding year-ago period.

Dalmia Bharat Ltd gained 1.7% its boards of Dalmia Bharat and OCL India decided to merge the two entities. The merged entity will have a cement capacity of 25 million tonne spread across eastern and southern India.

Bank of Baroda rallied 4%.  Bank of Baroda reduced the marginal cost of fund (MCLR) based interest rates by 10 basis points across different tenors with effect from 7 November.

PNB Housing Finance was trading at Rs 889 at BSE, a premium of 12.98% over the initial public offer price of Rs 775 per share on its debut on the bourses today.

KPIT Tech gained 2.5% : KPIT Technologies will sell its Berlin-based subsidiary KPIT medini Technologies AG to ANSYS, but did not disclose the deal size.

Dena Bank dropped 2% after the bank posted net loss at Rs 44 crore for the quarter ended September 30, 2016 as compared to net profit of Rs. 38.8 crore for the quarter ended September 30, 2015.

HCC climbed 4.6% to Rs 36 on the BSE. The RBI mandated Overseeing Committee (OC) has approved the (S4A) Scheme of Sustainable Structuring of Stressed Assets for Hindustan Construction Company. The ICICI led joint lenders’ forum had proposed the scheme for the infrastructure major.

The rupee opened marginally lower by four paise at 66.70/$ as against the previous close of 66.74/$.

Asian markets opened in the green after a week of declines & should see pull back from deeply oversold zone extend as we head into the results of US elections due on Tuesday night.

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Live Stock Market Updates – Sensex slips over 100 points; Pharma, Metal slip

stock-market-liveThe Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies.  The domestic market has opened in green.

At 12:41 PM, the S&P BSE Sensex is trading at 27,349 down 80 points, while NSE Nifty is trading at 8,486 up mere two points.

The BSE Mid-cap Index is trading down 0.85% at 12,903 whereas BSE Small-cap Index is trading down 1.75% at 12,937.

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy’s, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.

The INDIA VIX is 2.90% at 16.9425. Out of 1,897 stocks traded on the NSE, 1,387 declined, 663 advanced and 397 remained unchanged today.

A total of 25 stocks registered a fresh 52-week high in trade today, while 30 stocks touched a new 52-week low on the NSE.

Shares of the FMCG stocks rallied after the GST council decided on a four tier tax rate structure. The tax rate slabs have been fixed at 5%, 12%, 18% and 28%, Finance Minister Arun Jaitley said in a press conference in New Delhi. ITC Ltd is currently trading at Rs 250.85, up by Rs 10.5 or 4.37% from its previous closing of Rs 240.35 on the BSE.

Larsen and Toubro slipped 1.3%. Suuti will pare its holding in India’s largest engineering company Larsen and Toubro Ltd through a block deal, as per media reports.

Pharmaceuticals stocks are under pressure as reports suggested that United States may bring charges of price collusion against a group of drug makers before the end of this year.

Sun Pharmaceuticals Industries Ltd is currently trading at Rs 661.3, down by Rs 43.7 or 6.2% from its previous closing of Rs 705 on the BSE. The scrip opened at Rs 680 and has touched a high and low of Rs 680 and Rs 654 respectively. So far 13128419 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 169676.15 crore.

Glenmark Pharmaceuticals Ltd is currently trading at Rs 856.95, down by Rs 55.5 or 6.08% from its previous closing of Rs 912.45 on the BSE. The scrip opened at Rs 911.95 and has touched a high and low of Rs 911.95 and Rs 851.35 respectively. So far 924463 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25746.43 crore.

Dr Reddys Laboratories Ltd is currently trading at Rs 3103.95, down by Rs 158.05 or 4.85% from its previous closing of Rs 3262 on the BSE. The scrip opened at Rs 3238 and has touched a high and low of Rs 3238 and Rs 3085 respectively. So far 344198 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 55711.14 crore.

Lupin Ltd is currently trading at Rs 1401.95, down by Rs 71.6 or 4.86% from its previous closing of Rs 1473.55 on the BSE. The scrip opened at Rs 1460 and has touched a high and low of Rs 1461.95 and Rs 1394 respectively. So far 1248551(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 66492.91 crore.

Union Bank of India gained 0.40% to Rs 138. The bank will announce its Q2 numbers today.

Mphasis slipped 3.4%. The IT company registered 3% rise in its consolidated net profit at Rs 211 crore for the quarter ended September 30, 2016 against Rs 204 crore in the same quarter last year.

TD Power Systems fell 3.6%. TD Power posted net profit of Rs 1.3 crore for the quarter ended September 30, 2016 against net profit of Rs 1.1 crore in the same quarter a year ago.

Tube Investment dragged 2.9% to Rs 633. The company reported 113.3% rise in net profit at Rs 54 crore for the quarter ended September 30, 2016 against Rs 25 crore in the corresponding quarter a year ago.

Berger Paints inched up 0.52% to Rs.262. The company reported a 55% jump in its consolidated net profit at Rs 139 crore for the quarter ended September, aided by exceptional gains of Rs 44.20 crore.

Colgate-Palmolive (India) Ltd is currently trading at Rs 988.6, up by Rs 37.1 or 3.9% from its previous closing of Rs 951.5 on the BSE. The scrip opened at Rs 972 and has touched a high and low of Rs 1031.6 and Rs 972 respectively. So far 1292938 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25879.43 crore.

Dabur India Ltd is currently trading at Rs 297.35, up by Rs 5.45 or 1.87% from its previous closing of Rs 291.9 on the BSE. The scrip opened at Rs 293.85 and has touched a high and low of Rs 300.8 and Rs 293.3 respectively. So far 1158967 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 51418.78 crore.

Hindustan Unilever Ltd is currently trading at Rs 856, up by Rs 16.25 or 1.94% from its previous closing of Rs 839.75 on the BSE. The scrip opened at Rs 848 and has touched a high and low of Rs 866.85 and Rs 848 respectively. So far 1226295 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 181744.97 crore.

VST Industries Ltd is currently trading at Rs 2335, up by Rs 29.9 or 1.3% from its previous closing of Rs 2305.1 on the BSE. The scrip opened at Rs 2377 and has touched a high and low of Rs 2440 and Rs 2306.05 respectively. So far 4547(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3559.07 crore.

The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.

Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market underperformance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.

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Live Stock Market Updates – Nifty trade below 8,500 mark

NSEThe Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies.  The domestic market has opened in green.

At 9:40 AM, the S&P BSE Sensex is trading at 27,439 up mere nine points, while NSE Nifty is trading at 8,486 up mere two points.

The BSE Mid-cap Index is trading up 0.05% at 13,021 whereas BSE Small-cap Index is trading down 0.14% at 13,148.

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy’s, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.

The INDIA VIX is 0.71% at 16.5825. Out of 1,867 stocks traded on the NSE, 807 declined, 663 advanced and 397 remained unchanged today.

A total of 20 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.

Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market underperformance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.

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Live Stock Market Updates – Sensex, Nifty flat; Pharma, IT stocks drag

Dalal Street CapitalHeightThe Indian stock market fluctuated between gains and losses as a selloff in drug makers was countered by rally in FMCG companies.  The domestic market has opened in green.

At 9:40 AM, the S&P BSE Sensex is trading at 27,439 up mere nine points, while NSE Nifty is trading at 8,486 up mere two points.

The BSE Mid-cap Index is trading up 0.05% at 13,021 whereas BSE Small-cap Index is trading down 0.14% at 13,148.

ITC, HUL, Adani Ports, Cipla, GAIL and ICICI Bank are among the gainers, whereas Sun Pharmaceuticals, Dr Reddy’s, Lupin, L&T and Maruti Suzuki are losing sheen on NSE.

Some buying activity is seen in FMCG, private banking, media and metal sectors, while pharma, auto, banking, IT and realty sectors are showing weakness on NSE.

The INDIA VIX is 0.71% at 16.5825. Out of 1,867 stocks traded on the NSE, 807 declined, 663 advanced and 397 remained unchanged today.

A total of 20 stocks registered a fresh 52-week high in trade today, while 13 stocks touched a new 52-week low on the NSE.

The rupee opened marginally higher by one paise at 66.73/$ as against the previous close of 66.74/$.

Asian markets would see further weakness creep in as the losing streak in equities continues. Historically most US elections have seen a pre-election rally which may not be in the offing this time as uncertainty has been prevalent right till the end of the campaigns, with both participants equally poised near the finish line. However market underperformance before the event could see a smart year end rally as most negatives would be priced in & event uncertainty over equities could bounce sharply from oversold levels.

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Live Stock Market Updates – Nifty holds 8500 mark

NSE picThe Indian equity market opened lower dragged by global concerns. The Nifty breached the crucial 8500 level for the first time since July 11 weighed down by losses in IT, oil & gas, banks, auto, and capital goods stocks.

The Nikkei India Services PMI rose to 54.5 in October from 52 in September. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction.

At 9:37 AM, the S&P BSE Sensex is trading at 27,567 up 40 points, while NSE Nifty is trading at 8,528 up 14 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

ICICI Bank, Tata Steel, Cipla, Hero MotoCorp, Dr Reddy’s and RIL are among the gainers, whereas ONGC, Bharti Airtel, M&M, Wipro and Sun Pharmaceuticals are losing sheen on BSE.

Some buying activity is seen in metal, consumer durables, banking, realty, pharma, finance and basic materials sectors, while IT sector is showing weakness on BSE.

The INDIA VIX is down 0.62% at 16.6925. Out of 1,865 stocks traded on the NSE, 360 declined, 1,125 advanced and 380 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Hindalco Industries Ltd is currently trading at Rs 164.85, up by Rs 8.5 or 5.44% from its previous closing of Rs 156.35 on the BSE.

Lupin slipped 1.2%. The company has received approval from the US drug regulator for a contraceptive tablet. The product is a generic version of Janssen Pharmaceuticals Inc.’s drug.

Mphasis Ltd is currently trading at Rs 509.9, down by Rs 11.4 or 2.19% from its previous closing of Rs 521.3 on the BSE. The company will announce its Q2 numbers today.

Hero MotoCorp gained 1.7%.  Hero MotoCorp reported a 3.6% increase in sales at 663,153 units in October.

TVS Motor Company slipped 1.4%. The company posted 12% increase in total sales at 308,690 units in October. The Chennai-based company had sold 274,622 units in the same month last year.

IL&FS Engineering tanked 6% after the company reported net loss of Rs 81 crore for the quarter ended September 30, 2016 against net loss of Rs 82 crore in the same quarter a year ago.

Ambuja Cements inched up 0.48% to Rs 242. Ambuja Cements will announce its Q2 numbers today.

Zensar Technologies tumbled 3.8%.The company has acquired Foolproof Ltd along with its three wholly owned subsidiaries for an undisclosed amount.

Monsanto India Ltd is trading flat on the BSE. The company will announce its Q2 numbers today.

Strides Shasun Ltd soared  6.6%. The company said it and Mylan agree to settle regulatory and general claims on Agila transaction. After payment to Mylan, Strides to receive approximately $30 million from regulatory escrow.

Aurobindo Pharma is trading lower by 1% to Rs 784. Aurobindo Pharma has expressed interest in acquiring Portuguese drug maker Generis Farmaceutica for about $200 million, as per media reports.

Oudh Sugar Mills soared 2%.  The company posted its net profit at Rs 18.6 crore in the quarter ended September 2016 as against net loss of Rs 19 crore in the corresponding quarter last year.

Gulshan Polyols soared 5.2% after the company informed BSE that the board of directors of the company is scheduled to be held on November 05, to consider and discuss the matter of sub-division of equity shares of the company.

MMTC gained 2.3% to Rs 53.  MMTC plans to sell sovereign gold coins to non-resident Indians through branches of Indian banks with which it has tied-ups.

Asian markets opened flat to mildly positive after a huge drubbing in the last session. Globally the Fed maintained status quo on rates which saw yields fall along with the US $. Oil weakness saw energy stocks lead the declines even as financials rallied in the last hour. Next few days could see the uncertainty prevail with opinion divided on the outcome of the elections. However given the market behavior over the last 1 month most participants feel the probability of a Trump victory could well have been priced in with markets having only a knee jerk reaction on the day of the results.

India has the potential to move much ahead said PM Narendra Modi at a journalism awards event presented by IIFL Wealth & Asset Management. While the government says it will continue to undertake needed measures to strengthen economy, boost GDP growth and create jobs, rating agencies are not impressed as yet.

S&P retained India’s rating at ‘BBB-‘ with a stable outlook. Citing low per capita income and weak public finances, it ruled out an upgrade even for next year.

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