News from trendlyne

Larsen & Toubro(L&T) Limited    
29 May 2017, 09:51PM
1788.00
0.04%
L&T beats analyst expectations in fourth quarter results click to expand

India's biggest engineering and construction firm Larsen & Toubro Ltd (L&T) announced its quarterly results showing a 29.5% increase in its consolidated net profit, and a rise in gross revenue of 12% for Q4. The growth beat market expectations, with consolidated net profit for iQ4 rising to Rs 3025 crore from Rs 2335 crore in the same quarter last year. Analysts had expected a consolidated net profit of approximately Rs. 2650 crore.

L&T;s order book is up 5% from a year ago, slightly lower than its own projections for order inflow. Its international order book constituted 27% of the total orders on book. The firm has announced one bonus share for every two held, apart from a dividend of Rs 21 per share. The company's share price has hit a new year high in the lead up to results - it has been riding the wave of Sensex's rise over the last week. 

Larsen & Toubro(L&T) Limited has an average target of 1593.83 from 9 brokers.
PSP Projects Ltd    
29 May 2017, 11:06AM
208.95
-0.50%
PSP Project IPO debuts with mixed results click to expand

The construction company PSP Projects debuted today on stock markets, after an IPO that had offered subscribers an issue price of Rs. 210 per share. The firm however fell in early trading  to Rs. 194 per share, before recovering, although it is still trading below its offer price, and it looks like listing gains may be elusive for investors. 

The company's IPO was oversubscribed 8.58 times at its price band of Rs 205 - 210 per share. The qualified institutional buyers (QIBs) segment was oversubscribed 8.38 times, non-institutional investors 10.39 times and retail investors portion 6.47 times.

Nirmal Bang released a IPO Note report for PSP Projects Ltd IPO on 17 May, 2017.
Trendlyne Marketwatch    
29 May 2017, 09:45AM

Market breadth is neutral, with the Sensex falling early in the day, after hitting record highs at the end of last week. Of the 1781 stocks traded today, 931 were on the uptick, and 759 were down. Sun Pharma and Tech Mahindra have taken a beating in share price, after the firms reported weak Q4 earnings - Sun Pharma reported a 13.6% YoY drop in its consolidated net profit, while Tech Mahindra said its net profits fell 33%. 

Riding High:

Largecap and midcap gainers today include National Aluminium Company Ltd. (NALCO) (70.40 3.07%), Mahindra & Mahindra Financial Services Limited (317.55 1.89%) and Housing Development Finance Corporation Limited (1576.50 1.85%).

Downers:

Largecap and midcap losers today include Tech Mahindra Limited (380.00 -11.78%), Sun Pharmaceuticals Industries Limited (503.45 -11.45%) and Reliance Communications Limited (23.40 -9.30%).

Movers and Shakers

7 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Siti Cable Network Limited (33.30 6.73%), Mahindra & Mahindra Financial Services Limited (317.55 1.89%) and Shilpa Medicare Limited (692.55 1.55%).

Top high volume losers on BSE were Tech Mahindra Limited (380.00 -11.78%), Sanofi India Limited (4010.00 -1.17%) and TTK Prestige Limited (6450.10 -0.39%).

IFB Industries Limited (640.00 0.71%) was trading at 7.6 times of weekly average.

BSE 500: highs, lows and moving averages

13 stocks overperformed with 52 week highs, while 11 stocks hit their 52 week lows.

Stocks touching their year highs included - Bharat Petroleum Corporation Limited (759.00 1.17%), Finolex Industries Limited (610.00 4.81%) and Godrej Industries Limited (592.50 -0.16%).

Stocks making new 52 weeks lows included - Aurobindo Pharma Limited (514.80 -3.46%) and Divi's Laboratories Limited (542.50 -0.76%).

7 stocks climbed above their 200 day SMA including Suven Life Sciences Limited (183.85 4.02%) and Mahindra & Mahindra Financial Services Limited (317.55 1.89%). 6 stocks slipped below their 200 SMA including Torrent Power Limited (190.15 -2.36%) and SRF Limited (1633.90 -1.72%).

The Baseline    
28 May 2017, 05:31PM
Stock research reports for the week: May 20 -28 click to expand

Over 100 stock reports have landed this week, with reports from HDFC Securities, Axis Direct, ICICI Securities and more. Stock pick of the week from analysts is PI Industries, which posted strong results for Q4 with a net profit growth of 40%+.

Share price of the company has been trending up since the Q4 numbers came out. Since the results PIIND stock has received buy calls from three analysts, with current upside as of this writing at 15%+.

DateStockTargetUpside
(%)
TypeCMPBrokerChange in
past 6M
2017-05-26AIA Engineering Limited 1600.0015.59%Buy1384.25HDFC Securities and 1 other 
2017-05-26Cipla Limited 495.000.69%NEUT.491.60HDFC Securities and 1 other
2x
2017-05-26Lupin Limited 1800.0061.89%Buy1111.90HDFC Securities and 1 other 
2017-05-26Lumax Industries Limited 1603.0014.01%ACC.1406.00CD Equisearch and 1 other 
2017-05-26Amara Raja Batteries Limited 980.0013.08%Buy866.65IDBI Capital and 1 other1x
2017-05-26Manappuram Finance Limited 120.0032.23%Buy90.75Nirmal Bang Institutional  
2017-05-26Voltas Limited 495.00-0.72%ACC.498.60Nirmal Bang Institutional and 1 other
1x
2017-05-26Phillips Carbon Black Limited 550.0029.43%Buy424.95ICICI Securities Limited  
2017-05-26Oriental Carbon & Chemicals .. 1125.0018.43%Buy949.95ICICI Securities Limited  
2017-05-26Gujarat State Petronet Limited 175.002.76%Hold170.30ICICI Securities Limited and 1 other
1x
2017-05-26HeidelbergCement India Limited 145.0011.93%Hold129.55ICICI Securities Limited  
2017-05-26Page Industries Limited 12500.0012.84%Sell14341.00ICICI Securities Limited and 1 other 
2017-05-26NMDC Limited 120.002.87%Hold116.65ICICI Securities Limited and 1 other 
2017-05-26Bharat Forge Limited 1300.0014.82%Buy1132.25ICICI Securities Limited and 1 other
1x
2017-05-26Somany Ceramics Limited 885.0013.23%Hold781.60ICICI Securities Limited  
2017-05-26Adani Ports and Special Econ.. --%Not Rated346.95ICICI Securities Limited 1x
2017-05-25Jamna Auto Industries Limited 264.0010.65%Buy238.60HDFC Securities  
2017-05-25Sanghi Industries Limited 98.0024.76%Buy78.55HDFC Securities and 1 other 
2017-05-25Subros Limited 294.0016.41%Not Rated252.55HDFC Securities  
2017-05-25Prism Cement Limited 138.0015.34%Buy119.65Motilal Oswal  
2017-05-25Indian Oil Corporation Limited 457.007.19%NEUT.426.35Motilal Oswal
1x
2017-05-25Bosch Limited 23287.00-1.35%NEUT.23605.85Motilal Oswal  
2017-05-25PI Industries Limited 952.0015.96%Buy821.00Motilal Oswal and 1 other 
2017-05-25Hindustan Unilever Limited (.. 1165.0011.94%Buy1040.70Motilal Oswal and 1 other2x
2017-05-25KEC International Limited 279.009.69%Buy254.35Reliance Securities and 1 other
2x
2017-05-25Minda Industries Limited 629.005.56%Hold595.85Nirmal Bang and 1 other
1x
2017-05-25SRF Limited 1703.002.44%Hold1662.45Edelweiss and 1 other 
2017-05-25Bajaj Finance Limited 1220.00-7.40%Hold1317.55Axis Direct 1x
2017-05-25Bajaj Finserv Limited --%Results Update4005.95Axis Direct  
2017-05-25Dilip Buildcon Limited 610.0038.35%Buy440.90Axis Direct
1x
2017-05-25Gateway Distriparks Limited 280.0015.13%Buy243.20Axis Direct  
2017-05-25Gulf Oil Lubricants India Li.. 860.009.10%Buy788.25Axis Direct  
2017-05-25JK Lakshmi Cement Limited 508.005.76%Hold480.35Axis Direct
3x
2017-05-25JSW Steel Limited 263.0032.06%Buy199.15Axis Direct 1x
1x
2017-05-25Jyothy Laboratories Limited 360.00-2.85%Hold370.55Axis Direct and 1 other
2x
2017-05-25Oracle Financial Services So.. 3425.00-3.58%Hold3552.20Axis Direct  
2017-05-25Tata Steel Limited 576.0012.54%Buy511.80Axis Direct 2x
2017-05-25Tube Investments of India Li.. 840.0023.71%Buy679.00Axis Direct  
2017-05-25Karur Vysya Bank Limited 132.0012.10%Buy117.75Axis Direct and 1 other 
2017-05-25Entertainment Network (India.. 743.00-1.59%ACC.755.00Emkay and 1 other 
2017-05-25Essel Propack Limited 254.00-4.26%Hold265.30Emkay and 1 other
1x
2017-05-25Dish TV India Limited 91.004.54%ACC.87.05Emkay and 1 other
1x
2017-05-25Engineers India Limited (EIL) 182.0015.01%Buy158.25ICICI Securities Limited and 1 other 
2017-05-25Gujarat Gas Limited 805.007.33%Hold750.00ICICI Securities Limited and 1 other1x
2017-05-25Century Plyboards (India) Li.. 325.0025.48%Buy259.00ICICI Securities Limited  
2017-05-25Wonderla Holidays Limited 460.0023.82%Buy371.50ICICI Securities Limited  
2017-05-24Tata Motors Limited 542.0012.74%Buy480.75HDFC Securities and 1 other
1x
2017-05-24NRB Bearing Limited 161.0028.80%Buy125.00HDFC Securities  
2017-05-24NCC Limited 96.009.84%NEUT.87.40HDFC Securities and 1 other
1x
2017-05-24Bayer Cropscience Limited 4625.008.04%Hold4281.00Emkay  
2017-05-24Prabhat Dairy Limited 145.0026.36%Buy114.75Emkay  
2017-05-24GAIL (India) Limited 427.006.39%ACC.401.35IDBI Capital and 1 other 
2017-05-24JMC Projects (India) Limited 286.004.23%Hold274.40Edelweiss
1x
2017-05-24KCP Limited 126.0011.95%ACC.112.55Nirmal Bang Institutional
1x
2017-05-24CCL Products (India) Limited 374.0028.90%Buy290.15Nirmal Bang Institutional
1x
2017-05-24SHAILY ENGINEERING PLASTICS .. 768.0018.37%Buy648.80Nirmal Bang Institutional  
2017-05-24Jubilant Life Sciences Limited 806.0013.59%ACC.709.55Prabhudas Lilladhar and 1 other 
2017-05-24Jindal Steel & Power Limited 175.0040.34%Buy124.70Prabhudas Lilladhar 1x
2017-05-24Maithan Alloys Limited --%Mgmt Note428.20ICICI Securities Limited  
2017-05-24Balaji Telefilms Limited --%Mgmt Note111.90ICICI Securities Limited  
2017-05-23Brigade Enterprises Limited 288.0014.90%NEUT.250.65HDFC Securities
1x
2017-05-23Deccan Cements Limited 1468.0026.16%Buy1163.60HDFC Securities  
2017-05-23Allcargo Logistics Limited 228.0027.73%Buy178.50Motilal Oswal and 1 other 
2017-05-23TD Power Systems Limited --%Not Rated217.15Nirmal Bang Institutional  
2017-05-23V-Guard Industries Limited 187.002.05%ACC.183.25Nirmal Bang Institutional and 1 other
2x
2017-05-23Srikalahasthi Pipes Limited 386.0015.02%Buy335.60Reliance Securities  
2017-05-23Pidilite Industries Limited 874.0014.54%Buy763.05Reliance Securities and 1 other 
2017-05-23Kalpataru Power Transmission.. 397.0015.74%Buy343.00Reliance Securities and 1 other 
2017-05-23Punjab National Bank 167.0010.63%Hold150.95Reliance Securities and 1 other2x
2017-05-23Bank of Baroda 207.0015.13%Buy179.80Reliance Securities and 1 other1x
2017-05-23State Bank of India 355.0023.07%Buy288.45Reliance Securities and 1 other 
2017-05-23GlaxoSmithKline Pharmaceutic.. --%Results Update2361.15Angel Broking  
2017-05-23Cummins India Limited 1132.0019.79%Buy945.00IDBI Capital
1x
2017-05-23NIIT Limited 135.0054.37%Buy87.45Edelweiss  
2017-05-23JK Cement Limited 1025.00-5.63%Hold1086.10Axis Direct 1x
2017-05-23Colgate Palmolive (India) Li.. 900.00-9.90%Hold998.85Axis Direct
1x
2017-05-23Bata India Limited 630.0017.32%Buy537.00Axis Direct
1x
2017-05-23Whirlpool of India Limited 1170.00-0.72%Hold1178.50Axis Direct  
2017-05-23Vedanta (Sesa Sterlite Limit.. 278.0014.78%Buy242.20Axis Direct
1x
2017-05-23Vaibhav Global Limited --%Results Update510.00Axis Direct  
2017-05-23Huhtamaki PPL Limited 304.0026.14%Buy241.00CD Equisearch 1x
2017-05-23Triveni Turbine Limited 147.007.53%Hold136.70Karvy and 1 other 
2017-05-23Emmbi Industries Limited 205.002.81%Buy199.40ICICI Securities Limited  
2017-05-22Chambal Fertilizers & Chemic.. 120.00-2.12%NEUT.122.60HDFC Securities
1x
2017-05-22Larsen & Toubro(L&T) Infotech 880.0011.10%Buy792.05HDFC Securities  
2017-05-22Suzlon Energy Limited 25.0026.26%Buy19.80HDFC Securities  
2017-05-22CESC Limited 1069.0019.06%Buy897.85HDFC Securities 1x
2017-05-22Tata Power Company Limited 67.0017.23%Sell80.95Motilal Oswal  
2017-05-22Cholamandalam Investment and.. 1140.0011.78%Buy1019.85Axis Direct 1x
2017-05-22Bajaj Auto Limited 3035.008.00%ACC.2810.15Nirmal Bang Institutional and 1 other1x
2017-05-22CLARIS LIFESCIENCES LTD. 480.0048.10%Buy324.10Nirmal Bang Institutional  
2017-05-22Muthoot Finance Limited 535.0034.24%Buy398.55Nirmal Bang Institutional  
2017-05-22Take Solutions Limited 163.0035.21%Buy120.55Karvy 1x
2017-05-22FIBERWEB (INDIA) LTD. 398.0019.16%Buy334.00BOB Capital Markets Ltd.  
2017-05-22VRL Logistics Ltd 335.007.03%ACC.313.00Prabhudas Lilladhar
1x
2017-05-22Larsen & Toubro(L&T) Limited --%Buy1787.25Prabhudas Lilladhar  
2017-05-22Shree Pushkar Chemicals & Fe.. 245.0013.95%Buy215.00ICICI Securities Limited  
2017-05-22Motherson Sumi Systems Limited 450.000.67%Hold447.00ICICI Securities Limited  
2017-05-22HT Media Limited 75.00-8.37%Hold81.85ICICI Securities Limited  
2017-05-22Pitti Laminations Limited 50.0011.97%Sell56.80ICICI Securities Limited  
2017-05-22Graphite India Limited 105.00-7.98%Hold114.10ICICI Securities Limited  
2017-05-22United Breweries Limited 820.004.42%Hold785.30ICICI Securities Limited
2x
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The Baseline    
27 May 2017
Results Dashboard: Optimism rules in Indian markets as Q4 sees some big winners click to expand

Many companies have delivered strong results this Q4 - our results dashboard shows that out of the declared Q4 results, 523 were positive and 384 negative. Companies saw a total revenue growth of 8.8% and total operating profit growth of 16.7% YoY. 

The top industries in terms of net profit growth year on year for Q4 have been Fertilizers and Banks. Companies such as National Fertilizers recorded strong growth in Q4 in the fertilizer industry. Among Banks, DCB Bank topped the list of banks in revenue growth, while Federal Bank was top in net profit growth (both YoY)

The biggest winner among industries in terms of revenue growth has been Other Agri Products - which include companies such as Gujarat Ambuja Exports and Agro Tech Foods. Four out of six companies in this industry saw positive results. Industrial Machinery is yet another industry that has been an outperformer - among whom are companies like GMM Pfaulder, which has delivered its investors with an 84% increase in returns on share price over the last year. 

The Sensex has as a result, seen a strong upswing with investors having realized that the demonetization impact played itself out in Q3, without significant long-term effects. In addition, a weakening El Nino indicates that the monsoons will be better than expected, boosting rural demand and agri growth in the coming quarters. 

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Trendlyne Marketwatch    
26 May 2017

Markets rose in today's trading, up by 0.90%, and the Sensex closed above its new record of 31,000 on foreign inflows. Market breadth is in the green. Of the 2768 stocks traded today, 1730 were on the uptick, and 859 were down. Stocks that rode the wave and hit their new year highs in share price included some big guns - Tata Steel, ICICI Bank, Larsen & Toubro (L&T), Maruti SuzukiITC.

Riding High:

Largecap and midcap gainers today include Hindustan Petroleum Corporation Limited(HPCL) (569.45 11.82%), Jaiprakash Associates Limited (12.55 9.70%) and Berger Paints (I) Limited (260.00 7.19%).

Downers:

Largecap and midcap losers today include Sun Pharmaceuticals Industries Limited (566.00 -4.36%), Indian Oil Corporation Limited (425.00 -3.12%) and Alembic Pharmaceuticals Limited (556.90 -3.02%).

Volume Rockets

26 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Hindustan Petroleum Corporation Limited(HPCL) (569.45 11.82%), JM Financial Limited (128.60 9.68%) and Dishman Pharmaceuticals and Chemicals Limited (293.00 9.19%).

Top high volume losers on BSE were Indian Oil Corporation Limited (425.00 -3.12%), Cipla Limited (489.50 -2.90%) and Sanofi India Limited (4010.00 -0.99%).

Marico Limited (316.00 0.27%) was trading at 31.8 times of weekly average. Hero MotoCorp Limited (3620.00 0.12%) and Sequent Scientific Limited (114.00 1.33%) were trading with volumes 17.8 and 11.6 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

16 stocks hit their 52 week highs, while 7 stocks were underachievers and hit their 52 week lows.

Stocks touching their year highs included - Adani Transmission (115.20 4.21%), Godrej Industries Limited (594.00 1.74%) and HDFC Bank Limited (1630.00 0.79%).

Stocks making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Limited (2361.15 -0.32%) and Lupin Limited (1112.00 -2.28%).

21 stocks climbed above their 200 day SMA including Punj Lloyd Limited (22.25 5.95%) and AIA Engineering Limited (1384.25 4.69%). 6 stocks slipped below their 200 SMA including Jubilant Foodworks Limited (988.00 -2.49%) and Allahabad Bank (73.35 -1.21%).

Trendlyne Marketwatch    
26 May 2017

Markets are trading up today, with the Sensex crossing an all time high of 31,000. FIIs have joined the party with fresh buying into stocks, of approximately Rs 589.11 crore on Thursday. Jaiprakash Associates has its share price up by double digits on news that a critical agreement on restructuring the large debt of the company has been reached by banks. 

Market breadth is overwhelmingly positive. Of the 2604 stocks traded today, 1663 were in the positive territory and 782 were negative.

Riding High:

Largecap and midcap gainers today include Jaiprakash Associates Limited (12.73 11.28%), Ashok Leyland Limited (91.55 6.39%) and Berger Paints (I) Limited (257.15 6.02%).

Downers:

Largecap and midcap losers today include Indian Oil Corporation Limited (420.00 -4.26%), Sun Pharmaceuticals Industries Limited (569.50 -3.77%) and Alembic Pharmaceuticals Limited (555.15 -3.33%).

Crowd Puller Stocks

9 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included JM Financial Limited (129.40 10.36%), Sequent Scientific Limited (115.05 2.27%) and Indiabulls Housing Finance Limited (1064.00 1.73%).

Top high volume losers on BSE were Cipla Limited (489.00 -3.00%), Sanofi India Limited (4026.00 -0.59%) and Honeywell Automation India Limited (10891.00 -0.54%).

Marico Limited (314.80 -0.11%) was trading at 31.5 times of weekly average. Hero MotoCorp Limited (3654.00 1.06%) and ABB India Limited (1488.30 0.67%) were trading with volumes 17.4 and 3.7 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

12 stocks hit their 52 week highs, while 5 stocks hit their 52 week lows.

Stocks touching their year highs included - Adani Transmission (113.70 2.85%), Godrej Industries Limited (583.55 -0.05%) and ICICI Bank Limited (320.55 0.93%).

Stocks making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Limited (2365.10 -0.16%) and Pfizer Limited (1660.00 -1.19%).

17 stocks climbed above their 200 day SMA including Punj Lloyd Limited (22.00 4.76%) and kwality limited (141.80 3.81%). 3 stocks slipped below their 200 SMA including HMT Limited (40.00 -0.74%) and Allcargo Logistics Limited (178.95 0.48%).

State Bank of India    
26 May 2017
284.40
-1.40%
Post Q4 results, SBI looks like a buy for analysts click to expand

State Bank of India's (SBIN) Q4 results - released last week on May 18 - were stronger than expected, and healthy in their standalone numbers, with net profit growing triple digits by 122.7% YoY, and 7.8% QoQ to Rs 28.2 billion. The bank may also now be looking into a share sale to raise $2 billion, potentially as early as next month. 

Strong broad-based loan growth (9% QoQ) in the results was good news from the bank. Loan growth was mainly driven by Retail (+21% YoY) and Agri (+8% YoY). Both these sectors are expected to expand considerably in FY18, riding the wave of India's economy. 

Additionally, the negative numbers were not bad compared to SBI's peers. Loan slippages for the bank were far lower compared with the other banks. GNPAs increased by approximately 4% QoQ to Rs 1123 bn, with higher reductions. Slippages were flat QoQ at Rs 104 bn (2.75% annu. vs. 2.88% QoQ), including corporate slippages of Rs 78bn. 

Loloking at the consolidated numbers, its clear SBI still has work to do - the bank incurred a consolidated net loss of Rs 33.8 bn in the fourth quarter due to a sharp 75% growth in provisioning QoQ. Watchlist accounts make up 1.6% of SBI’s combined book. Power, as well as Iron & Steel have been major contributors to the Watchlist, according to SBI management.

The bank has been emphasizing a clean up of assets in its subsidiary banks post-merger, and also undertaking early sanction reviews to improve its NPAs. HDFC Securities and Reliance Securities issued buy calls on SBI, with upsides of 20%+.

Photo: Peter Gibbons

Reliance Securities increased Buy price target of State Bank of India to 355.0 on 23 May, 2017.
Trendlyne Marketwatch    
26 May 2017

The Sensex has opened up today, and market breadth is ticking up strongly. Of the 1684 stocks traded today, 1173 showed gains, and 429 showed losses. Indian Oil Corporation announced its fourth quarter results, noting that net profit rose 85%, in line with expectations. Ashok Leyland's fourth quarter performance beat expectations, with revenues up 11%. 

Riding High:

Largecap and midcap gainers today include Voltas Limited (499.30 5.01%), Dish TV India Limited (84.95 4.17%) and Berger Paints (I) Limited (251.15 3.55%).

Downers:

Largecap and midcap losers today include Rural Electrification Corporation Limited (196.80 -4.14%), NMDC Limited (113.90 -3.06%) and Cipla Limited (489.45 -2.91%).

BSE 500: highs, lows and moving averages

9 stocks overperformed with 52 week highs, while 2 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Adani Transmission (110.90 0.32%), Godrej Industries Limited (590.55 1.15%) and ICICI Bank Limited (319.15 0.49%).

Stocks making new 52 weeks lows included - GlaxoSmithKline Pharmaceuticals Limited (2370.00 0.05%) and Videocon Industries Limited (47.30 -9.99%).

8 stocks climbed above their 200 day SMA including AIA Engineering Limited (1365.10 3.24%) and Unitech Limited (5.57 2.96%). 2 stocks slipped below their 200 SMA including Allcargo Logistics Limited (177.30 -0.45%) and Jaiprakash Associates Limited (11.40 -0.35%).

Ashok Leyland Limited    
26 May 2017
91.55
-0.16%

Ashok Leyland has ended this financial year FY17 strongly, beating Bloomberg analyst estimates of revenue growth (they estimated 9.8%) to log 11% revenue growth for the fourth quarter. Net profit stood at Rs. 476 crore, also beating estimates. The company's share price is up today post results.

Analysts had expected ALL to show weaker numbers after the Supreme Court directive than banned BS III vehicles from April 1. The auto industry had made a last minute scramble after the court ruling to sell old stocks of these vehicles in the final days of March, and many had expected Ashok Leyland to take a hit in its margins after selling these at deep discounts.

However, the company's profit margins have held for the quarter. The firm may however, have to address rising competition by Bharat Benz trucks in the coming quarters, which are priced lower than Ashok Leyland's offerings after the introduction of BS IV norms.  

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Number of FIIs/FPIs holding stock rose by 35 to 431 in Mar 2017 qtr.