Dabur Q3 beats estimates, profit rises 10%, domestic volume growth at 12.4%

FMCG company Dabur India has reported healthy numbers for October-December quarter as earnings beat analyst expectations on Thursday. Consolidated profit grew by 10.2 percent year-on-year to Rs 366 crore, which was ahead of CNBC-TV18 poll estimates of Rs 357 crore.

Profit in corresponding period last fiscal stood at Rs 332 crore.

Consolidated revenue during the quarter increased 11.8 percent year-on-year to Rs 2,199 crore with healthy domestic volume growth at 12.4 percent against 13 percent in same period last year.

"Prudent cost management initiatives coupled with strong growth in the domestic market across our key business categories helped Dabur India Ltd mitigate the weaker economic indicators and macro-economic headwinds in some international markets to deliver a strong overall performance in the third quarter of 2018-19 financial year," the company said.

A CNBC-TV18 poll estimates for revenue stood at Rs 2,169 crore and domestic volume growth at 8-10 percent.

Dabur's shampoo business grew by 25.2 percent and hair oil business was up 23.6 percent, helping the hair care category report a nearly 24 percent growth during the quarter.

The skin & salon business ended the quarter with a 19.3 percent growth, while the OTC & ayurvedic ethicals business grew by 17.6 percent.

Dabur's toothpaste sales, led by continued demand for flagship Dabur Red Paste, was up 11.1 percent while the foods business also grew by 11.1 percent.

Sunil Duggal, Chief Executive Officer, said, "The medium-term prospects for India remain robust and we are confident that domestic consumer sentiment, particularly in rural markets, will gain pace in the months to come on the back of fiscal stimulus."

At operating level too, numbers were ahead of estimates. Consolidated EBITDA (earnings before, interest, tax, depreciation and amortisation) in Q3 increased 4.3 percent to Rs 445.2 crore, but margin contracted to 20.2 percent against 20.5 percent YoY.

A CNBC-TV18 poll expectations for EBITDA stood at Rs 433 crore and margin at 20 percent for the quarter.

SP Tulsian of sptulsian.com told CNBC-TV18 that Dabur reported very good numbers for the quarter. "Considering the good rabi crop season and likely continuity in rural consumption growth, Dabur is expected to trade strong going ahead."

Even if it does 10 percent volume growth, numbers are expected to remain good going ahead, according to him.

The stock was quoting at Rs 433, up Rs 2.15, or 0.50 percent on the BSE, at 14:48 hours IST.

Source: https://www.moneycontrol.com/news/business/earnings/dabur-q3-beats-estimates-profit-rises-10-domestic-volume-growth-at-12-4-3462671.html

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Sensex continues to trade flat, Nifty around 10,850; IndusInd Bank down 2%

Market opens It is a mildly lower start on the benchmarks on Thursday morning, with the Nifty above 10,800-mark.  

The Sensex is down 49.87 points or 0.14% at 36163.04, and the Nifty down 20.30 points or 0.19% at 10834.90. The market breadth is negative as 312 shares advanced, against a decline of 376 shares, while 37 shares were unchanged.

Consumption and metal names are trading higher, while pain is visible among banks and pharmaceuticals, among others. The Nifty Midcap index is trading flat. 

Tata Motors and NTPC are top gainers, while IndusInd Bank, Axis Bank, Bharti Infratel and HPCL lost the most.  

Rupee opens The Indian rupee has opened flat at 70.46 per US dollar. 

RUPEE OUTLOOK

“The rupee is expected to come under pressure as crude oil prices are rising once again in the international market. Further, now focus would shift to India's macroeconomic data. CPI is expected to remain benign. Hence, there is a chance of interest rate cut by the RBI. But political risk is rising for the market. The Budget is expected to be populist after the BJP's debacle in state elections last month. This might put pressure on the fiscal arithmetic. Globally tension has eased somewhat between US and China...but it is early to say anything. There is a sell-off in the global market which may have impact on the Indian market as well. So, overall the rupee is expected to be driven by global factors and the upcoming political factors in the domestic market. In the near term, the rupee is expected to trade in 69.50 to 72 band,” Rushabh Maru, Research Analyst at Anand Rathi Shares and Stock Brokers said in a statement. 

Source: https://www.moneycontrol.com/news/business/markets/market-live-sensex-continues-to-trade-flat-nifty-around-10850-indusind-bank-down-2-3372541.html

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Closing Bell: Sensex ends over 350 points lower, Nifty gives up 10,800; autos, metal drag

Market at Close Equities have ended the session off low points, but still in the red. Weak global and domestic cues weighed on the indices. The Nifty managed to give up 10,800.

Weakness was visible among automobiles, banks, energy, metals and pharmaceuticals. The Nifty Midcap index, too, fell over a percent during the trade.  

At the close of market hours, the Sensex was down 363.05 points or 1.00% at 35891.52, while the Nifty down 117.60 points or 1.08% at 10792.50.

The market breadth is negative as 941 shares advanced, against a decline of 1,577 shares declined, while 169 shares were unchanged.

Sun Pharma and TCS were the top gainers, while Vedanta, M&M, Eicher Motors and JSW Steel lost the most.  

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-recovers-from-lows-nifty-around-10800-metal-stocks-lose-shine-3344731.html

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Financials' rally boosts Sensex by over 300 points; Nifty eyes 10,900

Market opens The Nifty has begun January series above 10,800, while the Sensex is higher by over 150 points. 

All sectoral indices, barring metals, are trading in the green, with maximum gains visible among banks, pharmaceuticals and automobiles. The Nifty Midcap index is up half a percent.  

The Sensex is up 163.11 points or 0.46% at 35970.39, while the Nifty is higher by 46.90 points or 0.44% at 10826.70. The market breadth is positive as 318 shares advanced, against a decline of 107 shares, while 23 shares were unchanged.

Asian Paints, Vedanta, Titan and Yes Bank gained the most, while Coal India, ONGC and BPCL lost the most. 

RUPEE OPENS The Indian rupee opened higher/lower at 70.05 per US dollar. This is an appreciation of 30 paise in the currency market.

Source: https://www.moneycontrol.com/news/business/markets/market-live-financials-rally-boosts-sensex-by-over-300-points-nifty-eyes-10900-3331801.html

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Nifty closes higher on expiry day but forms bearish candle; 10,747 crucial for bulls

The Nifty50 extended gains for second consecutive session and closed the last day of December series on a positive note Thursday, but failed to hold on to 10,800 levels. Sharp rally in global stocks boosted sentiment.

The index formed a bearish candle on the daily charts as it closed lower than its opening high levels.

Experts expect the positive momentum to continue in coming sessions if the Nifty holds its crucial 10,747 levels. The January series will begin on Friday, which could see some consolidation.

The Nifty50 started off the expiry day on a strong note at 10,817.90 and remained in a positive terrain amid consolidation throughout the session. The index touched an intraday high of 10,834.20 and low of 10,764.45, before closing 49.90 points higher at 10,779.80.

Source:https://www.moneycontrol.com/news/business/markets/technical-view-nifty-closes-higher-on-expiry-day-but-forms-bearish-candle-10747-crucial-for-bulls-3330681.html

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NCDEX SUPPORT & RESISTANCE LEVEL (31 AUG 2018)

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MCX SUPPORT & RESISTANCE LEVEL (21 AUG 2018)

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Indian IT companies take a hit as foreign banks switch to in-house tech solutions

It isn’t that digitization of the financial sector has reached a saturation point. Large financial institutions are increasingly looking inwards to meet the demands of the marketplace.

Considered as a cash cow for India’s IT services companies for long, the banking and financial sector is gradually being weaned off the outsourcing model. The companies are now opting to build and maintain software in-house.

With emerging technologies, such as blockchain, which are touted to play a pivotal role in the financial sector, bankers are keen to keep their cards close to their chest and cut reliance on third parties for technology. India still continues to be the preferred destination for technology hubs though. Many foreign banks have set up global in-house centres (GIC) in cities such as Mumbai, Bengaluru, and Chennai.

The banking domain has been key to the fortunes of Indian IT companies, but the share of the finance vertical in their earnings has been on a downward spiral in the past couple of years.

The share of revenue derived from the banking sector by Tata Consultancy Services (TCS), the largest IT company in the country, declined by 2.3 percentage points, from 33.4 percent in FY17 to 31.1 percent in FY18. A similar trend was observed in the annual reports of peers. The segment’s share in the overall revenue of Infosys and Cognizant has slipped by 1.4 percentage points and 3 percentage points, respectively.

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Source:https://www.moneycontrol.com/news/business/companies/indian-it-companies-take-a-hit-as-foreign-banks-switch-to-in-house-tech-solutions-2850061.html

Opening Bell (3 Aug 2018)

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Closing Bell (2 August 2018)

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Nifty forms robust bullish candle; upside may extend up to 11,480

Bank Nifty finally surpassed its life time high of 27,652 and made a new life time high of 27,661 levels. It formed a strong Bullish Candle on daily as well as weekly scale.

Bulls roared at Dalal Street on Friday as follow up buying helped frontline indices end at record closing highs. The Nifty50 after opening higher remained on upward path throughout the session, forming robust bullish candle on the daily candlestick chart as well as weekly chart.

All sectoral as well as broader indices participated in the rally barring PSU Bank. FMCG and Metal indices were the biggest gainers, rising 2 percent each while the Nifty Midcap index was up 0.9 percent.

The 30-share BSE Sensex, which hit record high for the 21st time in 2018, closed 352.21 points higher at 37,336.85, driven by ITC which was the biggest gainer with 5 percent rally after Q1 earnings.

It was a strong start to the August series as the Nifty50 after opening higher at 11,232.75 rallied sharply to hit fresh intraday all-time high of 11,283.40. The index, which did not fall below the 11,200 levels today, closed 111.10 points or 0.99 percent higher at 11,278.40.

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Source: https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-robust-bullish-candle-upside-may-extend-up-to-11480-2772721.html

D-Street Buzz: Nifty midcap outshines as Federal Bank zooms 17%; BoB leads PSU bank rally

275 stocks have hit fresh 52-week low including Aban Offshore, ACC, Ambuja Cements, Andhra Bank, Bank of India, DEN Networks, Federal Bank, GIC Housing Finance, HCC, India Cements, Kwality, NBCC, NMDC, PC Jeweller, PTC India and REC among others.


The Indian benchmark indices including the Sensex continues to trade on a positive note this Tuesday afternoon with the index trading 124 points at 36,447 while the Nifty is trading higher by 56 points at 10,993.

Midcaps are buzzing this Tuesday afternoon, up 2.5 percent led by Bata India, CG Power, GMR Infra, IFCI, India Cements, Jain Irrigation Systems, JP Associates, PFC, Reliance Capital, Reliance Infra, Tata Global Beverage and Voltas among others.

The Nifty auto index is up half a percent led by Apollo Tyres, Ashok Leyland, Bharat Forge, Exide Industries, Mahindra & Mahindra and Tata Motors.

The PSU bank index is up over 2 percent led by stocks like Union Bank of India, Syndicate Bank, Bank of Baroda, Punjab National Bank and Oriental Bank of Commerce by Canara Bank, Bank of India and Allahabad Bank among others.

Federal Bank jumped 17 percent while ICICI Bank, IDFC Bank, Yes Bank, RBL Bank and Axis Bank are some of the banks which are also up in the afternoon trade.

Oil & gas stocks are up with Reliance Industries adding half a percent while HPCL, BPCL and Indian Oil Corporation are up 4-5 percent.

From the BSE midcap space, Reliance Communications jumped 5 percent while Union Bank of India, LIC Housing Finance, MRPL, IDFC Bank and Muthoot Finance added 3-4 percent.

From the smallcap space, CMI zoomed 11 percent while Hathway Cable is up 10 percent. JMT Auto, Kitex Garments, Ujaas Energy and CG Power are the other smallcap gainers.

The top gainers among Nifty constituents are HPCL, Indian Oil Corporation, Hindalco Industries, BPCL and Tata Steel.
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Source: https://www.moneycontrol.com/news/business/markets/d-street-buzz-nifty-midcap-outshines-as-federal-bank-zooms-17-bob-leads-psu-bank-rally-2723671.html

Stock market update: Capital goods index rises nearly 1%; Dilip Buildcon, HEG, NBCC top gainers in the pack

NEW DELHI: The BSE Capital Goods index was trading 0.86 per cent up at 17,676 around 12:30 pm with most stocks trading with gains.

Shares of Dilip Buildcon (up 4.99 per cent), HEG (up 3.45 per cent), Finolex Cables (up 3.09 per cent) and NBCCNSE 2.87 % (India) (up 2.65 per cent) were the top gainers in the capital goods index.

Shares of Graphite India, Lakshmi Machine Works, GE T&D India, Elgi Equipments, ABB India and SKF India

V-Guard Industries, Havells India, Thermax, Sadbhav Engineering, Suzlon Energy, CG Power and Industrial Solutions, Schaeffler India, AIA Engineering and Larsen & Toubro climbed up to 1 per cent.

Siemens, BHEL, BEML and Carborundum Universal too were in the green in the index.

Meanwhile, Bharat Electronics (down 0.77 per cent) and Kalpataru Power Transmissions (down 0.76 per cent) were in the red around that time.

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Source:https://economictimes.indiatimes.com/markets/stocks/news/stock-market-update-capital-goods-index-rises-nearly-1-dilip-buildcon-heg-nbcc-top-gainers-in-the-pack/articleshow/64915207.cms

July 1st to be celebrated as ‘GST Day'

The first year of GST has been an example to the world of the readiness of the taxpayers to be a partner in the unprecedented reform in Indian taxation, the finance ministry said today. The government will celebrate July 1, 2018, as 'GST Day' to mark the first anniversary of the new indirect tax regime.

Goods and Services Tax (GST) was rolled out in the intervening night of June 30 and July 1, last year, in a ceremony held in the Central Hall of Parliament.

"Union Minister for Railways, Coal, Finance & Corporate Affairs Piyush Goyal will preside over as the Chief Guest of the event and Minister of State for Finance, Shri Shiv Pratap Shukla will be the Guest of Honour,” the finance ministry said in a statement.


GST subsumed over a dozen local levies and transformed India into "one nation, one Tax" and binds the country into an Economic Union, it added.

"The first year of GST has been an example to the world of the readiness of the Indian taxpayer to be a partner in this unprecedented reform of Indian taxation," the ministry said.

It said the introduction of e-way (electronic way) bill is a "monumental shift" from the earlier ‘Departmental Policing Model' to a ‘Self-Declaration Model'.

"It envisages one e-way bill for movement of the goods throughout the country, thereby ensuring a hassle free movement of goods throughout the country," the ministry said.

Transporter of goods worth over Rs 50,000 have to generate an e-way bill and show it to GST inspector, if asked. The inter-state e-way bill system was introduced on April 1. As regards intra-state e-way bill, it was rolled out in phases from April 15.

"GST will have a multiplier effect on the economy with benefits accruing to various sectors such as exporters, small traders and entrepreneurs, agriculture and industry, common consumers," the ministry said.

Any new change is accompanied by difficulties and problems at the outset, it said.

"A change as comprehensive as GST is bound to pose certain challenges not only for the government but also for business community, tax administration and even common citizens of the country," the ministry added.

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Source: https://www.moneycontrol.com/news/trends/current-affairs-trends/july-1st-to-be-celebrated-as-gst-day-2655011.html