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Nifty futures has rolled around 68% vs 73% with respect to last month, and the open interest for the new Aug contract is lower by around 30 lkh implying cautious outlook or profit booking at 10000 levels. BankNifty futures rolled at around 76% vs 69% compared to last month. However the open interest of Bank nifty in this series is more by around 2.5 lkh, implying fresh long build up.
We recently met the management of Dollar Industries Ltd (Dollar) to get an insight into its business and future plans. Dollar is amongst the large players in an otherwise fragmented innerwear market. Over the years, Dollar has built a strong portfolio of brands in the economy and midpremium segment. After having established brands like Dollar Regular, Big Boss under the Dollar' umbrella, It is shifting focus towards premium segment by introducing new brands and entering into newer product categories for diversifying from being a predominantly Men's Innerwear company to a lifestyle brand catering to Men, Women and Kids segments....
Persistent (PSYS) delivered in-line revenue (~USD 113 mn) in Q1FY18 led by deal wins in traditional OPD services (up 5% QoQ) and IBM alliance (up ~10% QoQ as Q4 was a muted quarter for Watson). However, EBIT margin declined ~200 bps due to INR appreciation, accelerated front-end and business investm..
India monsoon rainfall 4% above normal July 27 domestic indices are expected to open lower. The U.S markets ended mixed as investors resorted to profit taking post strong earnings reported by technology stocks. The Dow Jones gained 86...
Incorporated in 1985, Security and Intelligence Services (India) Ltd (SIS) is a leading provider of private security and facility management services in India. According to Frost and Sullivan, it is a second largest security services provider in India, in terms of revenue as of March 31, 2016, and the fastest growing security services provider in India, based on revenues during FY10-15. Serving across the service lines of security services, cash logistics and facility management services, it offers various services such as security services in India & Australia, electronic security solution, alarm...
Operating Income decreased by 93.4% to Rs. 15.81 Cr in Q1FY18 when compared to the previous quarter. Operating Income decreased by 93.4% to Rs. 15.81 Cr in Q1FY18 when compared to the previous quarter.
Brokers Poll 2017. We would be pleased if We see 50% chance of a rate cut in August 2017, if the Reserve Bank of India or RBI goes by the inflation you vote for us as the feedback helps us data of the past couple of months. However, we are not taking a rate cut for granted, as an inflation- align our equity research offerings to meet targeting central bank should ideally be forward-looking. Going forward, we see inflationary pressure your requirements. Click Here from the increase in house rent allowance under the Seventh Central Pay Commission, upturn in food...
Asian markets were trading higher as investors took note of Fed Reserves decision to keep interest rates unchanged and watch-out for a slew of corporate earnings due later in the day. Nikkei was trading higher by 0.22%, Hangseng was trading higher by 0.28%. Sgx Nifty is trading higher by 0.07%. The domestic indices are expected to open in the green and focus will be on quarterly earnings and F&O; expiry. The U.S markets ended higher as Federal Reserve left rates unchanged, and investors focused on corporate quarterly results. The central bank,...
At the CMP, we maintain Neutral with a TP of Rs 880 (26x FY19 EPS). Gulf Oil Lubricants 1Q numbers came in above expectations. The core business delivered 7% volume growth, driven by distribution expansion and OEM tie-ups, despite GST-related headwinds. Revenue growth was 2.7% YoY at Rs 2.8bn, supported by core volume growth rate of 7% (excluding the institutional order). Gross margins improved ~190bps (took price hike in May-17). Margin was largely flat at 17.6%, owing to higher overheads and employee expenses.
At CMP, LTT is at 14.6x FY19E, as compared to midcap IT valuations at 12.3x. Maintain NEUTRAL with a TP of Rs 800, 15x FY19E EPS. L&T; Tech (LTT) posted strong revenue of USD 127.6mn, 5.3% QoQ (3.7% organic and USD 1.9mn - 1-month consolidation- of Esencia, acquired in the previous quarter). EBITDA% came at 15.3%, impacted by INR appreciation and visa cost (Rs 0.12bn or -145bps), offset by rationalization of variable salary. APAT came in at Rs 0.98bn, (1.6% QoQ), impacted by higher ETR. Growth in the quarter was led by the Transportation, Telecom and Hi-tech (Esencia consolidation) and Medical Devices verticals, which grew 5.9/11.4/10% QoQ respectively.
On a monthly basis, the entire base metal pack has witnessed an upward trend wherein prices of zinc, lead, copper and aluminium increased 3%, 1%, 4% and 2%, respectively Domestic HRC prices, post the rollout of GST increased by...
Asset Quality improved with GNPA decreasing by 26bps QoQ to 7.21% and NNPA decreasing by 34bps QoQ to 4.05%. Absolute GNPA decreased by 2% QoQ to INR 96.5bn and NNPA decreased by 6.6% QoQ to INR 52.4bn. Slippages to GNPA during the quarter declined to INR 7.09bn vs. INR 8.25bn in 1QFY17. Stressed assets (Gross NPA's + Restructured Std. Advances) decreased by 1%QoQ to INR 140.5bn (10.49% of the Total Gross advances) as of...
Asian markets were trading mixed tracking positive cies from Wall Street overnight and Oil prices gained more than 3 % on news that major U.S. oil producer plans to reduce capital spending due to lower oil prices and Saudi Arabia said it would limit its crude exports to restrict oversupply. Nikkei was trading higher by 0.47%, Hangseng was trading lower by 0.17%. Sgx Nifty is trading higher by 0.05%. The domestic indices are expected to open in the green and focus will be on key corporate earnings during the session....
Following an impressive 121% upsurge in last 12 months, we believe that the current stock price has discounted most of the near-term positives. Further, Government of India is mulling consolidation of public sector banks, which creates a very high level of uncertainty for the Bank's future earning trajectory, as the balance sheet quality of several PSU banks is considered to be pathetic. Further, we expect the Bank will continue to witness elevated level of credit cost, which will keep its earnings and return ratios subdued over next 6-8 quarters. We change our recommendation on the stock to HOLD from BUY with an unrevised Target Price of Rs341...
momentum is expected to pick up in 2HFY18 as the deals won in the previous quarters ramp-up. The required rate, however, for 10% YoY growth in FY18 stands at 2%, indicating that continuation of the current momentum should be enough for the company to achieve industry-leading growth. The outlook for most verticals has been robust, barring Manufacturing (17% of revenue), which is expected to remain soft in the near term. Margin miss offset by outlook for 2Q: EBITDA margin (ex. forex gain) shrunk...
Nifty's D-3 rollover figures stand at 26% which is near to its four month average of 25% with healthy spread of 0.40% higher than the average of the last four expires.
