Stocks of Tata Motors, Eicher Motors in focus today post Q1 results; GAIL, BHEL earnings to watch

By: | Updated: August 10, 2017 9:06 AM

Indian markets are likely to open lower as the early indicator of NSE Nifty, SGX Nifty Futures was trading in negative territory, down 0.28% at 9,889.5 points.

The domestic stock market ended in negative territory for the third consecutive day on Wednesday, with the Sensex losing over 500 points in last three sessions. (Image: BSE)

Indian markets are likely to open lower as the early indicator of NSE Nifty, SGX Nifty Futures was trading in negative territory, down 0.28% at 9,889.5 points. Meanwhile, Asian stocks steadied and US Treasury bond prices fell slightly on Thursday as the risk aversion triggered by the latest flare up of tensions between the United States and North Korea began to settle. Asian stocks were supported after seeing Wall Street shares closed barely lower overnight, trimming losses, as investors appeared to brush off geopolitical concerns.

Following stocks will be in watch today ahead of the Q1 earnings:

GAIL, Bharat Forge, Bharat Heavy Electricals, Motherson Sumi Systems, Union Bank Of India, United Breweries, Adani Power, Adani Transmission, Allcargo Logistics, Asian Granito India, Balaji Telefilms, Bombay Dyeing, Dishman Pharma, Indo Count Industries, Kajaria Ceramics, Manappuram Finance, MOIL, Page Industries, Petronet LNG, Power Finance Corporation, SpiceJet, Sunteck Realty, Symphony, Coffee Day, Deccan Cements, Deepak Fertilizers, Gujarat State Petronet, Himatsingka Seide, Laurus Labs, Manpasand Beverages, Shilpa Medicare, Shipping Corporation Of India, Zydus Wellness.

These stocks will be in focus on Thursday after first quarter earnings release and major announcements:

Homegrown auto major Tata Motors yesterday reported 41.54 per cent jump in net profit to Rs 3,199.93 crore for the June quarter of the current fiscal, benefiting from one-time gain relating to changes made to JLR pension plans. It had posted a consolidated net profit of Rs 2,260.4 crore in the April-June period of last fiscal, Tata Motors said in a BSE filing. Income from operations during the period under review stood at Rs 59,818.22 crore, as against Rs 66,165.89 crore in the year-ago period, down 9.59 per cent.

Commercial vehicles maker Eicher Motors yesterday reported a 22.14 per cent rise in consolidated net profit at Rs 459.62 crore for the first quarter ended June  30, 2017.

Aluminium maker Nalco yesterday said its net profit fell by 4.44 per cent to Rs 129 crore for the first quarter ended June 30, 2017. “Nalco has achieved remarkable growth in production in all fronts. During the quarter, bauxite production was 18.81 lakh tonnes, thereby registering 10.4 per cent growth over 17.04 lakh tonnes produced in the corresponding period of
previous year,” the firm said in a statement.

State-run Bank of India (BoI) swung back into profit in the first quarter ended June 30, reporting a net of Rs 88 crore yesterday on improvement in asset quality and lower provisioning. The lender had reported a net loss of Rs 741 crore in
the same period last year.

Mining and metals firm MMTC yesterday reported a net profit of Rs 18.13 crore in the quarter ended June, on account of over two-fold increase in its income.

Ajanta Pharma yesterday reported a 20.71 per cent decline in consolidated net profit to Rs 94.79 crore for the first quarter ended June 30, mainly due to de-stocking in trade channels ahead of GST implementation.

State-owned Punjab and Sind Bank (PSB) has registered a fall of 52.45 per cent in its net profit at Rs 25.37 crore for the first quarter to June of 2017-18 on account of surging bad loans.

Bayer CropScience yesterday posted a 14.86 per cent fall in net profit at Rs 111.7 crore in the first quarter of the current fiscal on poor sales.

Deepak Nitrite Ltd yesterday said its net profit grew by 32 per cent to Rs 20.10 crore in the first quarter ended June 30 from Rs 15.20 crore in same period of the last year.

Jindal Stainless Ltd (JSL) swung into black by posting a net profit of Rs 41.50 crore during the first quarter ended June 30, 2017.

Wind turbine maker Inox Wind yesterday reported a consolidated net loss of Rs 39.02 crore in the first quarter ended June, due to lower revenues earned in the period.

Aurobindo Pharma yesterday reported an 11.38 per cent decline in consolidated net profit at Rs 518.33 crore for the first quarter ended June 30, 2017.

PTC India Financial Services Ltd (PFS) yesterday reported a rise of 17.4 per cent in net profit at Rs 79.21 crore in the first quarter ended June 30, 2017.

Max Financial Services (MFS), the holding company for Max Life Insurance, reported a 37.8 per cent decline in net profit at Rs 66.58 crore for the first quarter ended June 30.

Travel services provider Thomas Cook India yesterday reported a 10.04 per cent rise in consolidated net profit to Rs 68.24 crore for the first quarter ended June 30, 2017.

Shares of Tata Chemicals yesterday went down by over 3 per cent after the company reported 14 per cent fall in consolidated net profit for the first quarter ended June 30.

Union Bank of India yesterday said it will raise Rs 2,000 crore through various instruments, including rights issue and private placement. The state-owned lender’s committee of directors at its meeting today approved the capital raising issue.

A number of companies, including Parsvnath Developers, JKumar Infraprojects and Prakash Industries, yesterday moved the Securities Appellate Tribunal against Sebi classifying them as “shell companies”, contesting that their businesses are legitimate. Defending the move, Sebi said it took the action after receiving the list of companies from the corporate affairs ministry.

Telecom operator Reliance Communications, which is reeling under debt of about Rs 45,000 crore, plans to issue shares to lenders for the debt that it has raised from them, as per a regulatory filing of the company. The board of RCom is scheduled to meet on August 12 which will consider convening annual general meeting of shareholders to enable the firm seek their nod for converting debt into equity shares.

The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official at the ministry.

Indian Markets on Thursday:

The domestic stock market ended in negative territory for the third consecutive day on Wednesday, with the Sensex losing over 500 points in last three sessions as pharma stocks tanked following weak first-quarter earnings reported by most of the companies. The pessimism gathered on the escalating tension between US and North Korea after North Korea said it is considering plans for a missile strike on the US Pacific territory of Guam. Over all sentiments were also muted following the Indian market watchdog SEBI order on Monday which has clamped down 331 suspected shell companies listed on exchanges.

BSE Sensex fell over 200 points to end at 31,797.84 points and NSE Nifty 50 settled 70 points lower at 9,908.05 points. The shares of the heavyweight companies HDFC BankTata Motors, Sun Pharma, L&T, Axis Bank, ICICI BankAdani Ports and SEZ, Maruti SuzukiITC and Bajaj Auto remain the major contributors in the down surge of the benchmark indices.

Rupee Closing On Thursday:

Amid heightened global uncertainties, the rupee yesterday retreated sharply by 21 paise to end at 63.84 against the American currency due to fresh demand for the greenback from importers and banks. Simmering geopolitical tensions took centre-stage once again following hardening of stand by both the US and North Korea, dampening forex market sentiment.
A modest pick-up in the dollar demand, amid growing conviction that the Fed remains on track to raise interest rates further in 2017, largely put pressure on the local currency.

US stocks on Thursday:

US stocks clawed back losses late on Wednesday as investors appeared to brush off geopolitical concerns after falling in the wake of U.S. President Donald Trump’s “fire and fury” warning to North Korea. After a dip of as much as 0.52 percent earlier in the day, Wall Street’s three major indexes bounced off intraday lows. The Dow Jones Industrial Average fell 36.64 points, or 0.17 percent, to end at 22,048.7, the S&P 500 lost 0.9 point, or 0.04 percent, to 2,474.02 and the Nasdaq Composite dropped 18.13 points, or 0.28 percent, to 6,352.33.

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