Grauer & Weil: Growth Triggers Missing
Grauer & Weil (G&W) has interests in businesses that cater primarily to surface treatment and surface finishing requirements. The company also operates a shopping centre in the suburbs of Mumbai. The company is listed on the Bombay Stock Exchange (BSE) and commands a market-capitalisation of around Rs1,100 crore.
 
G&W was setup in 1940 by two British nationals after which it went...
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  • DHFL’s Imminent Default – I: A Rapidly Unravelling Crisis
    Dewan Housing Finance Limited (DHFL) is in focus again due to continuous downgrade by rating agencies. The latest is from CARE which downgraded DHFL to BBB- on 14th May and CRISIL which has downgraded the ST rating to A4+ on 11th May. This rating by CRISIL signifies very high credit risk and very high probability of default. 
     
    DHFL had highest possible rating (AAA / A1+) until...
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  • Nifty, Sensex Under Pressure Again- Wednesday closing report
    We had mentioned in Tuesday’s closing report that Nifty, Sensex might rally if today’s lows holds. The major indices of the Indian stock markets suffered a correction on Wednesday and closed with losses over Tuesday’s close. On the NSE, there were 659 advances, 1,084 declines and 359 unchanged. The trends of the major indices of the Indian stock markets in Wednesday’s trading are given in the table below:
     
     
    The Sensex on Wednesday opened on a positive note during the morning session of the trade. The benchmark indices ended lower in the volatile trading with Nifty closeing below 11,200 mark. At close, the Sensex was down 203.65 points at 37,114.88, while Nifty was down 65 points at 11,157. Yes Bank, Tata Motors, Zee Entertainment, JSW Steel and Gail were the top losers on the Nifty, while gainers were Bajaj Finance, Eicher Motors, UPL, IOC (Indian Oil Corporation) and Indiabulls Housing. Among the sectors, metal index slipped 2% followed by auto, infra, pharma, FMCG (fast moving consumer goods) and bank. 
     
    Housing finance major HDFC Limited has partnered with the India Mortgage Guarantee Corporation (IMGC) to offer a mortgage-guaranteed home loan product. The partnership aims to make it possible for HDFC to further penetrate the home loan market and access an enlarged customer base, helping them to own a home of their choice, HDFC said. This product will help HDFC to offer more loan to a home loan customer on an enhanced eligibility as it also helps customers to avail loans beyond their retirement period. Mortgage guarantee or mortgage insurance, as it is known in some markets, is well established in the US, Australia and Canada with market penetration of 15% in the US and 22% in Canada. Likewise in India, mortgage guarantee is on the rise with market penetration between 5%-20% across lenders who are leveraging the product to grow their books. Housing Development Finance Corporation shares closed at Rs1,939.50, down 1.31% on the NSE.
     
    Welspun Enterprises reported Q4 results. Consolidated net profit was up 17.3% at Rs29.6 crore, revenue up 78.9% at Rs725.1 crore, year-on-year. Welspun shares closed at Rs109.40, down 2.32% on the NSE.
    Wonderla Holidays reported a net profit of Rs7 crore against Rs3.7 crore, revenue was up 10.4% at Rs60.6 crore versus Rs55 crore, year-on-year. Wonderla shares closed flat on the NSE.
     
    Newgen Software reported consolidated net profit of Rs62.5 crore against Rs18 crore while revenue was up 27% at Rs204 crore versus Rs160.5 crore, quarter-on-quarter. Newgen Software Technologies shares closed at Rs325.00, down 3.42% on the NSE.
     
    Jubilant Foodworks reported an 8.6% jump in its fourth quarter (Q4FY19) net profit at Rs73.9 crore. Revenue rose 11% at Rs865 crore against Rs780 crore. Jubilant shares closed at Rs1,245.00, up 3.58% on the NSE.
     
    Newly-listed wires, cables and electrical goods maker Polycab India’s Q4 net profit was down 27.3%. The Directors have recommended a final dividend of Rs3 per equity share. Commodity prices and rupee movement versus the dollar impacted profitability. Revenue increased by 16% year-on-year in Q4 to Rs2,444.8 crore. Among the segments, wires and cables grew 13% at Rs2,121.6 crore and EPC (Engineering, procurement and construction) grew 141% at Rs218.3 crore. Polycab India shares closed at Rs618.00, down 2.49% on the NSE.
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
     
     
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