Many Uses of Valuation
The term valuation, in the context of shares, is too vast to be covered in a few articles. There are many other uses of valuation in corporate finance when it comes to mergers, buyouts and other corporate actions. Here, ‘valuation’ is used to give opinions, or to take decisions, about buying/selling. My focus in the earlier articles was on understanding the term valuation from a stock...
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Nifty, Sensex May Log in More Gains – Monday closing report

The major indices of the Indian stock markets rallied on Monday and closed with gains over Friday’s close. On the NSE, there were 1,339 advances, 404 declines and 325 unchanged. The trends of the major indices in the course of Monday’s trading are given in the table below:

 

 
The key domestic indices -- the S&P BSE Sensex and NSE Nifty50 -- gained over 1.50% on the back of value buying by investors on Monday. All the 19 sectors on the BSE gained, with banking and finance counters leading. Gains were witnessed in export-oriented stocks like healthcare and IT (information technology) counters.
 
Sundram Fasteners reported Q2 FY19 standalone results of total revenue at Rs1,001.61 crore (Rs818.45 crore), up 22.4% year-on-year. Profit after tax was at Rs110.22 crore (Rs90.43 crore), up 21.9% year-on-year. Earnings per shares were at Rs5.25 (Rs4.30). Interim dividend of Rs2.00 per share was declared. The company’s shares closed at Rs519.00, up 0.09% on the BSE.
 
Century Textiles reported Q2 FY19 standalone results which included Income from operations at Rs2,088.89 crore (Rs1,821.69 crore), up 14.7%  year-on-year. Net profit was at Rs156.52 crore (Rs52.78 crore), up 196.6% year-on-year. Earnings per share were at Rs14.01 (Rs4.72). Century Textiles shares closed at Rs805.15, up 4.40% on the NSE.
 
Prakash Industries reported Q2 FY19 standalone results of net revenues at Rs950.31 crore (Rs647.92 crore), up 46.7% year-on-year. Profit after tax was at Rs130.73 crore (Rs71.06 crore), up 84% year-on-year. Earnings per share were at Rs8.03 (Rs4.69). The company’s shares closed at Rs104.55, up 3.46% on the NSE.
 
Vijaya Bank reported Q2 FY19 results including, net interest income (NII) at Rs1,165.52 crore (Rs1,008.40 crore), up  15.6% year-on-year. Net Profit was at Rs139.94 crore (Rs185.46 crore), down 24.5% year-on-year.  Provisions were at Rs488.21 crore (Rs449.65 crore). Gross non-performing assets (GNPA) were at 5.86% (7.06%). Net non-performing assets (NNPA) were at 3.81% (4.86%). Vijaya Bank shares closed at Rs43.15, up 6.15% on the NSE.
 
Alphageo received Notification of Award of Contract from ONGC, NSP Project, Mumbai for provision of 2D Seismic Data Acquisition services in un-appraised on land areas of Sedimentary Basins of Ganga-Punjab Area for estimated Contract Value of Rs33.89 crore. Alphageo shares closed at Rs484.00, up 1.83% on the NSE.
 
Cipla received final approval for its ANDA for Metoprolol ER Tablets USP, from the US FDA (United States of America). The drug is a generic version Aralez Pharma’s, Toprol XL® which is indicated for the treatment of hypertension. Cipla shares closed at Rs633.00, up 4.85% on the NSE.
 
Nestle India reported Q2 FY19 results of revenue at Rs2,939.3 crore (Rs2,514 crore), up 16.9%  year-on-year. Profit after tax was at Rs446.1 crore (Rs343.1 crore), up 30% year-on-year. Earnings per share were at Rs46.27 (Rs35.59). Nestle India shares closed at Rs9,646.00, up 0.80% on the NSE.
 
HDFC Bank has been set to acquire 4.95% equity stake in NSDL for a cash consideration of Rs163.34 crore at a price of Rs825 per equity share. The bank’s shares closed at Rs1,929.90, down 1.60% on the NSE.
 
ICICI Bank reported Q2FY19 results including net interest income (NII) at Rs6,417.58 crore (Rs5,709.07 crore), up 12.4% year-on-year. Net profit was at Rs908.88 crore (Rs2058.19 crore), down 55.8% year-on-year. Provisions were at Rs3,994.29 crore (Rs4,502.93 crore). Gross non-performing assets (GNPA) were at 8.54% (7.87%). Net non-performing assets (NNPA) were at 3.65% (4.43%). ICICI Bank shares closed at Rs351.45, up 11.34% on the NSE.
 
Atul Ltd reported Q2 FY19 standalone results of revenue at Rs1,007.42 crore (Rs787.25 crore), up 28% year-on-year. Net profit was at Rs119.02 crore (Rs70.07 crore), up 69.9% year-on-year. Earnings per share were at Rs40.13 (Rs23.62). Atul shares closed at Rs3,290.00, up 2.16% on the NSE.
 
Indian Overseas Bank reported Q2 FY19 standalone results of net interest income (NII) at Rs1,208.31 crore (Rs1,520.38 crore), down 20.50% year-on-year. Loss of Rs487.26 crore was reported (loss of Rs1,222.50 crore). Provisions were at Rs2,016.60 crore (Rs2,238.09 crore). Gross non-performing assets (GNPA) were at 24.73% (22.73%). Net non-performing assets (NNPA) were at 14.34% (13.86%). Indian Overseas Bank shares closed at Rs14.40, up 3.23% 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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Holdings of Big Individual Investors over the Past Four Quarters
Broad market indices have underperformed since the announcement of the Union Budget in late-January 2018. The event triggered pessimism among investors and, since then, it has been a rollercoaster ride, as rising interest rates across the world have rocked equity markets. But events and corrections like these are opportunities for long-term investors to buy new stocks at a better price or...
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