सेंसेक्स और निफ्टी में गिरावट, मेटल शेयर टूटे

शुरुआती कारोबार में घरेलू बाजारों में गिरावट के साथ कारोबार देखने को मिल रहा है। सेंसेक्स और निफ्टी में 0.25 फीसदी तक की कमजोरी दिख रही है। निफ्टी 10300 के नीचे आ गया है। सेंसेक्स 33300 के नीचे कारोबार कर रहा है। मिडकैप और स्मॉलकैप शेयरों में भी सुस्ती का माहौल है।

मेटल, फार्मा, रियल्टी, कैपिटल गुड्स और ऑयल एंड गैस शेयरों में बिकवाली देखने को मिल रही है। हालांकि बैंकिंग और आईटी शेयरों में खरीदारी दिख रही है। बैंक निफ्टी 0.1 फीसदी बढ़कर 25,516 के स्तर पर नजर आ रहा है।

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फिलहाल बीएसई का 30 शेयरों वाला प्रमुख इंडेक्स सेंसेक्स 73 अंक यानि 0.25 फीसदी की गिरावट के साथ 33,241 के स्तर पर कारोबार कर रहा है। एनएसई का 50 शेयरों वाला प्रमुख इंडेक्स निफ्टी 37 अंक यानि 0.3 फीसदी की कमजोरी के साथ 10,285 के स्तर पर कारोबार कर रहा है।

बाजार में कारोबार के इस दौरान दिग्गज शेयरों में एलएंडटी, कोल इंडिया, इंडियाबुल्स हाउसिंग, बीपीसीएल, ओएनजीसी, बीएचईएल और एचडीएफसी 4.1-1.3 फीसदी तक गिरे हैं। हालांकि दिग्गज शेयरों में महिंद्रा एंड महिंद्रा, एचयूएल, टीसीएस, टेक महिंद्रा, एनटीपीसी, एक्सिस बैंक और एसबीआई 1.7-1 फीसदी तक बढ़े हैं।

मिडकैप शेयरों में रिलायंस कैपिटल, पेट्रोनेट एलएनजी, एचपीसीएल और ओबेरॉय रियल्टी 2.5-2.25 फीसदी तक कमजोर हुए हैं। हालांकि मिडकैप शेयरों में हैवेल्स, नाल्को, पेज इंडस्ट्रीज, अमारा राजा और सीजी कंज्यूमर 2.2-0.9 फीसदी तक उछले हैं।

द्वारिकेश शुगर, सोना कोयो, बिड़ला कॉर्प और जीनस पावर 12-5.3 फीसदी तक टूटे हैं। हालांकि स्मॉलकैप शेयरों में सोरिल इंफ्रा, जयप्रकाश एसोसिएट्स, रॉयल ऑर्किड, केडीडीएल और वाटरबेस 14.4-8 फीसदी तक मजबूत हुए हैं।

रुपये में तेज गिरावट, 21 पैसे की कमजोरी के साथ खुला

रुपये ने तेज गिरावट के साथ शुरुआत की है। डॉलर के मुकाबले रुपया 21 पैसे की गिरावट के साथ 65.37 के स्तर पर खुला है। वहीं, पिछले हफ्ते शुक्रवार को डॉलर के मुकाबले रुपया 22 पैसे कमजोर होकर 65.16 पर बंद हुआ था।

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Union Bank of India posts Q2 net loss of Rs 15,301 cr

State-run Union Bank of India on Friday reported standalone net loss during the quarter stood at Rs 1530.72 crore compared to net profit of Rs 176.67 crore in the previous year quarter. Interest income of the bank rose by 0.17 per cent at Rs 8222.39 crore for the quarter ended September 30, 2017 as against Rs 8208.14 crore in the corresponding period last year. NII, the difference between interest earned on loans and interest paid on deposits, increased by 1.90 per cent at Rs 2,320.73 crore versus Rs 2,277.44 crore in the year ago period. Non-interest income rose 6.84 per cent year-on-year to Rs 1,217.34 crore. 

During the July-September quarter, total income rose by 0.99 per cent to Rs 9,439.73 crore from Rs 9,347.58 crore in the year ago period. Operating profit surged 6.55 per cent to Rs 1,938.97 crore from Rs. 1,819.70 crore. Meanwhile, operating expenses dropped by 0.36 per cent to Rs 7,500.76 crore from Rs 7,527.88 crore in the same period last year. 

Provisions and Contingencies surged by 119.38 per cent at Rs 3,554.67 crore from Rs 1,620.29 crore a year ago. On the asset side, gross non- performing assets (NPAs) rose to 12.35 per cent of the gross advances as at the end of September 30, 2017 from a level of 10.73 per cent year earlier. Its net NPAs or bad loans too increased to 6.70 per cent of net advances on September 30, 2017 from 6.39 per cent a year ago.

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IRB Infra`s Arm Commences toll Collection at Chittorgarh-Gulabpura Section

IRB Infrastructure Developers’ wholly-owned subsidiary - CG Tollway, incorporated for implementation of project of six lanning of 124.87 km of NH-79 between Chittorgarh and Gulabpura in the state of Rajasthan has received the appointed date from the Competent Authority. Accordingly, the SPV has started toll collection and construction on the project from November 4, 2017.

The project is on DBFOT pattern and the concession period of the project is 20 years including construction period of 910 days. The estimated cost of the project is Rs 2,090 crore. The company started toll collection on the project from appointed date i.e. November 4, 2017 being Six Lanning Project. The company has offered premium of Rs 228.60 crore to NHAI.

The premium payment will commence after three years from the appointed date in terms of the concession agreement. IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles. Meanwhile, shares of the company were trading at Rs 247.35 apiece, up 1.62 per cent from the previous close

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Granules India Gains 4% as Motilal Oswal expects over 50% return on strong Financials

Granules India share price rallied nearly 4 percent intraday Monday as Motilal Oswal believes the stock has the potential to deliver more than 50 percent return in the next 12-18 months on the back of multiple re rating and strong EPS CAGR of around 30 percent till FY20.

The research house has a buy call on the stock with a target price of Rs 200 per share as it expects 35 percent profit CAGR over FY17-20.

 

It said this strong growth will be driven primarily by ramp-up of the base business (led by capacity expansion), shift in product mix, Omnichem JV, and OTC business expansion.

Although FY19 will be the first year of US business sales, the full impact of investments in the US business will be visible from FY20, it added.

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Currently, its API plant is running at 100 percent capacity and pharmaceutical formulation intermediates (PFI) at 75-80 percent utilisation.

The company had planned to increase its API capacity by around 40 percent and PFI capacity by more than 20 percent (expansion plan to get over in FY18), which will help fuel growth in formulations (as Granules is dependent on backward integration). This will help grow the base business at mid-to-high teens until at least FY20 (around 27 percent CAGR over FY17-20 versus around 7 percent in FY17), Motilal Oswal said.

Granules plans to file around 25 ANDAs in the US by FY19. Of this, around 12-15 complex ANDAs will be filed from its US-based Virginia facility and rest from the India facility in Gagilapur. The company has already filed two complex generic ANDAs from its Virginia facility in March/April-17 (market size of USD 500 million).

Of these, in 1 product, the company could be the only generic player in the near term, the research house said.

It expects the 50:50 joint venture between Granules and Ajinomotos subsidiary Omnichem to record revenue of around Rs 450 crore, with EBITDA margin of more than 30 percent in FY20.

Sobha Surges 9% as CLSA Maintains buy after Strong Pre-Sales Data

Sobha share price rallied nearly 9 percent intraday Monday as global brokerage house CLSA has maintained its buy rating on the stock with a target price of Rs 525 after strong pre-sales data.

The Bangalore-based real estate company during the second quarter achieved new sales volume of 8.61 lakh square feet total valued at Rs 675.1 crore with an average realisation of Rs 7,840 per square feet.

The company has achieved this growth without launching any new projects during the quarter.

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This showed the growth of 5.6 percent and 8.3 percent in sales volume and total sales value compared with previous quarter, respectively while on year-on-year basis, sales volume was marginally higher and total sales value increased by 22.5 percent in Q2FY18.

Sobha said its share of sales value stood at Rs 592.7 crore (out of Rs 675.1 crore) with an average realisation of Rs 6,883 per square feet, up 5.3 percent QoQ and 14.4 percent YoY.

"The new sales value of Rs 592.7 crore achieved during the second quarter of 2017-18 is highest in past 10 quarters," it said.

The growth was supported adequately by an improved performance in the Kochi market followed with a consistent traction in other markets.

CLSA said steady execution & good portfolio helped the company to perform well. It expects pre-sales to do well for the next few quarters.

At 10:34 hours IST, the stock price Sobha was quoting at Rs 416.95, up Rs 25.70, or 6.57 percent.

Gitanjali, Titan, TBZ rally 4-6% as jewellery purchases above Rs 50,000 won't need PAN

Jewellery stocks rallied 2-20 percent on Monday after the Government withdrew its GST notification on gems and jewellery.

Gitanjali Gems, PC Jeweller, Titan Company, Tara Jewels and TBZ gained 4-7 percent as Permanent Account Number (PAN) card and Aadhaar card will no longer be mandatory on the purchase of jewellery for over Rs 50,000.

This raised hopes for likely increase in demand for jewellery in Diwali festival (especially Dhanteras day).

Dhanteras is considered to be an auspicious day for buying gold, silver and other valuables and is largely celebrated in North and West India.

The government has taken this decision at its 22nd GST Council meeting on Friday.

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During last Dhanteras, gold and jewellery sales had risen by up to 25 percent on higher demand in view of good monsoon and favourable price levels, as per the industry body data.

CLSA said the government deferring PMLA for the sector came at the right time, given the ensuing festive season.

Titan remained its preferred pick. It has a buy call on the stock with a target price of Rs 700 per share.

In a notification issued on August 23, the government had brought jewellery dealers under the purview of the Prevention of Money Laundering Act 2002 (PMLA) and were told to report on buyers making purchases over Rs 50,000. Therefore, PAN and Aadhaar cards were made mandatory as part of 'Know your customer (KYC)' rule.

India is the world's largest gold consumer and imports a sizeable chunk of its total annual consumption of around 900-1,000 tonne.

No firecrackers for Delhi-NCR: SC

The Supreme Court on Monday ruled that there will be no sale of firecrackers during Diwali, as it restored a November 2016 order banning the sale and stocking of firecrackers in Delhi and National Capital Region.

A bench headed by Justice A.K. Sikri, while restoring the order, said: "We should see at least in one Diwali the impact of a cracker-free festivity."

However, the court said that the September 12, 2017 order lifting the ban on the sale and stocking of firecrackers in Delhi NCR will be back into effect from November 1.

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Gold Steady, on Track for First Monthly loss in Three

Gold prices held steady early on Friday just above the previous session's six-week low, supported by a weaker dollar, but remained on course for their biggest monthly fall this year.

FUNDAMENTALS

* Spot gold was nearly unchanged at $1,286.86 per ounce at 0044 GMT, on track for a monthly drop of about 2.7 percent. That would mark its largest monthly decline so far in 2017 and the first such fall in three months.

*The metal was also on track for a third straight weekly decline, although it looks set to end the quarter up around 3.7 percent.

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*U.S. gold futures for December delivery edged up 0.1 percent to $1,289.80 per ounce.

*The dollar slipped against a basket of currencies on Thursday, snapping a three-day winning streak, as investors looked to take profits on the greenback's rally this week ahead of the end of the quarter. [USD/]

*Stocks globally rose modestly as investors digested U.S. economic data and the prospects for a U.S. tax reform plan proposed by President Donald Trump. [MKTS/GLOB]

*The U.S. economy expanded a bit faster than previously estimated in the second quarter, recording its quickest rate of growth in more than two years, but the momentum likely slowed in the third quarter due to the impact of Hurricanes Harvey and Irma.

* The White House struggled on Thursday to defend its new tax plan against criticism that it would help the rich at the expense of lower classes, as Republicans in Congress prepared to move ahead with actual legislation.

Indian Oil Corp Creating Artificial scarcity of LPG cylinders: Manipur Minister

Manipur's Consumer Affairs and Public Distribution Minister Karam Shyam on Thursday accused Indian Oil Corporation of creating an artificial scarcity of LPG cylinders in the state.

"The government has initiated steps to monitor the functionings of the IOC in this regard," he said, noting that while the monthly allotment of LPG cylinders to Manipur is 5,000 metric tonnes, the IOC has been bringing just 2,000 metric tonnes.

The northeastern state has 3,60,413 consumers and 88 distributors. Consumers have been complaining that they get hardly two cylinders in a year, and Shyam admitted that consumers are forced to buy cylinders on the blackmarket at Rs 1,800 each or more.

Officials said that those who cannot afford this exorbitant prices are using firewood and charcoal.

Stressing that the consumer subsidy is also lost, Shyam said: "This is unacceptable and the government shall not remain silent."

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