76% of Large Listed Real Estate Firms Are Profitable; Bigger Ones Growing Fast

A survey conducted jointly by industry lobby Federation of Indian Chambers of Commerce & Industries, National Real Estate Development Council (Nardeco) and real estate services firm Knight Frank found that the outlook for Indian real estate fell to a new low in September 2019, a level previously seen during uncertainty prevailing before the general elections of 2014 and also the...

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  • Nifty, Sensex Trendless – Weekly closing report
    The major indices were volatile and ended with minor losses. The trends of the major indices in the course of the week’s trading was:
     
     
    The equity markets were closed on Monday due to Assembly Elections in Maharashtra.
     
    On Tuesday, the major indices ended suffered a correction. On the NSE, there were 921 advances, 889 declines and 336 unchanged. Infosys shares opened with severe losses and plunged 15%, following a whistleblower complaint alleging "unethical practices" by the company’s CEO Salil Parekh and CFO Nilanjan Roy. 
     
    In an attempt to soothe investor sentiments, Infosys Chairman Nandan Nilekani assured investigations to the "fullest extent" into allegations of unethical practices by some anonymous employees of the company. 
     
    Jyothy Labs reported year-on-year 9% increase in revenues to Rs480 crore for the quarter ended September 2019. Net profit went up 16% y-o-y to Rs54 crore.
     
    TV Today Network reported year-on-year 7% increase in revenues to Rs193 crore for the quarter ended September 2019. Net profits declined 21% y-o-y to Rs23 crore.
     
    Solara Active Pharma Sciences reported year-on-year 4% increase in revenues to Rs356 crore for the quarter ended September 2019. Net profit doubled 239% y-o-y to Rs29 crore. Granules India reported year-on-year 21% increase in revenues to Rs708 crore for the quarter ended September 2019. Net profit doubled 59% y-o-y to Rs96 crore.
     
    Piramal Enterprise has reported net sales of Rs3666.24 crores during the period ended September 30, 2019 as compared to Rs3200.41 crores during the period ended September 30, 2018. Net profit was Rs554.69 crores against Rs481.19 crores.
     
    On Wednesday, the major indices ended with minor gains. On the NSE, there were 930 advances, 855 declines and 353 unchanged. Kajaria Ceramics reported net sales of Rs721.50 crores in the September quarter 2019 compared to Rs729.9 crores in the same period last year. It has posted a net profit of Rs93.19 crores as against Rs50.20 crores.
     
    Welspun Corp reported year-on-year 5% increase in revenues to Rs2,302 crore for the quarter ended September 2019. Net profits jumped 165% y-o-y to Rs156 crore. Tinplate Company of India reported year-on-year 19% decrease in revenues to Rs544 crore for the quarter ended September 2019. Net profits jumped 137% y-o-y to Rs12.66 crore.
     
    Kewal Kiran Clothing reported year-on-year 10% increase in revenues to Rs173 crore for the quarter ended September 2019. Net profits declined 6% y-o-y to Rs25.64 crore. Hatsun Agro Product reported year-on-year 8% increase in revenues to Rs1,280 crore for the quarter ended September 2019. Net profits declined 34% y-o-y to Rs25.23 crore.
     
    On Thursday, the major indices ended were volatile and ended with losses. On the NSE, there were 759 advances, 1,012 declines and 410 unchanged. Weak demand environment dented automobile major Maruti Suzuki India's second quarter earnings. It reported a drop of 39.4% in its net profit for the period on account lower sales volume, higher sales promotion expenses and higher depreciation expenses.
     
    Larsen and Toubro reported a rise of 13.3% increase in its consolidated net profit for the quarter ended September 30 of financial year 2019-20. "The PAT at Rs 2,527 crore, including the PAT from discontinued operations for the quarter ended September 30, 2019 grew by 13.3 per cent over the corresponding quarter of the previous 2 year," the company said in a statement.
     
    K P R Mill reported year-on-year 6% increase in revenues to Rs819 crore for the quarter ended September 2019. Net profits jumped 31% y-o-y to Rs109 crore.
     
    Indian Energy Exchange reported year-on-year 5% increase in revenues to Rs79 crore for the quarter ended September 2019. Net profits jumped 14% y-o-y to Rs49 crore.
     
    NIIT’s net revenues were Rs236.5 crore, up 5% YoY for the September quarter; EBITDA was Rs25.4 crore and operating margin 11%. Profit after tax was Rs209.3 crore. This Includes impact of reversal of tax provision pursuant to recent changes in income tax law, primarily related to divestment of shareholding in NIIT Technologies Limited.
     
    On Friday, the major indices ended were volatile and closed with minor gains. On the NSE, there were 736 advances, 1,012 declines and 391 unchanged. The key Indian equity indices opened marginally higher on Friday before trading on a flat note, following a mixed trend in the Asian markets. 
     
    The BSE and the NSE have announced an additional margin of minimum 35% to be levied on trading of stocks with promoter pledged holding of over 25% or more, among other criteria. The surveillance measures would come into effect from November 1. The minimum 35% additional margin would also be levied if the concerned company's market capitalization is greater than Rs1,000 crore.
     
    State Bank of India has posted a mammoth increase of 219% in net profit to Rs3,012 crore in the second quarter of the current fiscal on yearly comparison basis. Net Interest Income (NII) increased to Rs24,600 crore in Q2FY20 from Rs20,906 crore in Q2FY19, an increase of 17.67% YoY.
     
    Domestic Net Interest Margin (NIM), another key metrics improved to 3.22% in Q2FY20, registering an increase of 42 bps YoY and 21 bps sequentially. Net NPA Ratio at 2.79% is down 205 bps YoY, as well as 28 bps sequentially.
     
    Piramal Enterprises is planning to a fresh capital raise of Rs5,400 crores through rights issue and preferential allotment of compulsory convertible debentures. The rights issue of Rs3,650 Crores at Rs1,300 per share, is intended to give an opportunity to all its existing shareholders to participate in the capital raise. The promoters will also participate in the rights Issue.
     
    Alembic Pharmaceuticals reported its consolidated financial results for the quarter ending 30th September 2019. Net sales for the quarter up 10% to Rs1,241 crores from Rs1,127 crores last year. Net profit for the quarter up 23% to Rs246 crores from Rs200 crores last year.
  • User

    BSE, NSE to levy more margin on high promoter-pledged stocks
    The BSE and the NSE have announced an additional margin of minimum 35 per cent to be levied on trading of stocks with promoter pledged holding of over 25 per cent or more, among other criteria.
     
    The surveillance measures would come into effect from November 1.
     
    The minimum 35 per cent additional margin would also be levied if the concerned company's market capitalisation is greater than Rs 1,000 crore.
     
    "SEBI and exchanges in a joint meeting have decided to levy minimum margin of 35 per cent on the stocks (including stocks in derivatives segment) that satisfy the following criteria...
     
    "(1) market capitalisation is greater than Rs 1,000 crores, 
     
    "(2) pledged holding of the promoter accounts for more than 25 per cent of the total number of the issued shares of the company...," the exchange notifications said.
     
    The other criteria to attract higher margin include "concentration of the top 25 clients in trading during the last 30 days is 30 per cent or more" and if the price variation between high and low of a scrip is greater than 40 per cent in the last three months.
     
    Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.
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    COMMENTS

    Ramesh Poapt

    4 weeks ago

    stocks with less than 1000 cr mkt cap are more volatile
    where retail investors are trapped.

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