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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ICICI Bank Rallies Post Q2 FY17 Numbers

ICICI Bank Ltd is currently trading at Rs 283.5, up by Rs 4.75 or 1.7% from its previous closing of Rs 278.75 on the BSE. The bank reported on a standalone basis its profit after tax was Rs 3,102 crore (US$ 466 million) for Q2 FY17 compared to Rs 2,232 crore (US$ 335 million) for Q1 FY17 and Rs 3,030 crore (US$ 455 million) for Q2 FY16.

The scrip opened at Rs 281.6 and has touched a high and low of Rs 287.4 and Rs 281.6 respectively. So far 13032821 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 162208.34 crore.

The bank posted Net interest income of Rs 5,253 crore (US$ 789 million) in the quarter ended September 30, 2016 (Q2 FY17) compared to Rs 5,251 crore (US$ 788 million) in the quarter ended September 30, 2015 (Q2 FY16).

The BSE group ‘A’ stock of face value Rs 2 has touched a 52 week high of Rs 291.5 on 25-Oct-2016 and a 52 week low of Rs 180.8 on 26-Feb-2016. Last one week high and low of the scrip stood at Rs 280.95 and Rs 265.6 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 65.5 % and 9.13 % respectively.

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The stock is currently trading above its 50 DMA.

Top 15 stocks in focus today: ICICI Bank, Future Retail, Britannia Industries

ICICI Bank: ICICI Bank reported net profit of Rs 3,102 crore for the quarter ended September 30, 2016 against Rs 3,030 crore in the corresponding quarter a year ago.

Britannia Industries: Britannia Industries posted a 5.8% rise in its consolidated net profit to Rs 234 crore in the quarter ended September 30, 2016 as compared to Rs 221 crore in the year-ago period.

IT stocks: IT stocks will be in focus today. Cognizant reported 11.8% in net profit to $444.4 million in the July-September quarter, but cut its annual revenue forecast for the third straight time this year.

Future Retail: Future Retail said it has agreed to buy the retail business of Hyderabad-based Heritage Foods Ltd, promoted by the family members of Andhra Pradesh chief minister N. Chandrababu Naidu, in an all-stock deal.

Ceat: Ceat registered 1.6% rise in consolidated net profit at Rs 107 crore for the quarter ended September 30. It had posted a net profit of Rs 105 crore in the same quarter last fiscal.

GlaxoSmithKline Consumer Healthcare: The company reported 16.62 per cent decline in standalone net profit at Rs 183.72 crore for the second quarter ended September 30, 2016. It had posted a standalone net profit of Rs 220.34 crore in the same quarter last fiscal.

Varun Beverages: Shares of Varun Beverages is going to list on bourses today.

GIC Housing Finance: The company said S Gopakumar, general manager with Oriental Insurance Company, has been appointed as managing director of the company. Warendra Sinha resigned as MD and CEO of the company following his elevation as whole time director of National Insurance Company.

Wipro: The company on Monday announced the launch of its Open Banking API (Application Programming Interface) Platform. The Open API platform, will enable banks and financial institutions to launch Open Banking initiatives and create new forms of distribution channels and servicing capabilities, provide access to third-party application marketplaces, and comply with emerging regulatory norms through the standardisation of APIs.

Ashok Leyland: Ashok Leyland will announce its Q2 numbers today.

L&T: L&T-MHPS Boilers Pvt Ltd has signed a technology licence agreement for selective catalytic reduction systems with Mitsubishi Hitachi Power Systems Ltd.

Cyinet Ltd: The company has signed a definitive agreement with Blom ASA to acquire 100% stake in Blom Aerofilms.

Indigo: The airline company will announce its Q2 numbers today.

Bombay Dyeing: Bombay Dyeing will announce its Q2 numbers today.

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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 – 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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