Sonata Software: Is It a Value Stock?
A comparison between four software companies, viz., Sonata, Persistent, NIIT Tech and Mindtree (now controlled by L&T Infotech), throws up interesting figures. Sonata Software (Sonata) is now being valued at of 13x its net profit of trailing 12 months. This is half the valuation of two other mid-size software companies Mindtree  (27), NIIT Technologies (27) and is also cheaper than...
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  • Dynemic Products: Stable and Improving Operations
    Dynemic Products Limited (DPL) makes food colours, dyes and intermediates used in foods, cosmetics and pharmaceuticals industries. It also manufactures dye intermediates which are used in printing ink cartridges and roller ball pens. 
     
    DPL is among the largest manufacturers of food colours in India and also exports its products to more than 45 countries including USA, UK, Germany,...
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  • Nifty, Sensex rising on strong institutional buying – Weekly clsoing report
    We had mentioned in last week’s closing report that Nifty, Sensex will wait for the budget trigger. The major indices rallied this week. The trends of the major indices in the course of the week’s trading was:
     
     
    On Monday, the major indices opened lower on a negative budget but recovered and ended with minor gains. On the NSE, there were 708 advances, 1,146 declines and 107 unchanged.
     
    Hinduja flagship firm Ashok Leyland reported a 40% decline in total commercial vehicle sales at 11,850 units in January 2020. Total sales in the domestic market were down 41% at 10,850 units as compared to 18,533 units in January 2018, the company said.
     
    Godrej Properties reported 9.2% jump in its December quarter (Q3FY20) consolidated net profit at Rs.45.5 crore against Rs.41.6 crore in December 2018.
     
    Revenues were up 12.6% at Rs383 crore against Rs.340.1 crore.
     
    Diagnostic services provider Dr Lal PathLabs reported a 19.08% increase in consolidated net profit at Rs 54.9 crore for the quarter ended December 31. The company had posted a net profit of Rs 46.1 crore in the corresponding period of the previous fiscal.
     
    TVS Motor Company reported a 16.88% decline in January sales at 2,34,920 units.
     
    On Tuesday, the major indices rallied. On the NSE, there were 1,249 advances, 533 declines and 358 unchanged. IFCI completed the stake sale of NSE and further received an amount of approximately 1178.65 crore. 
     
    Adani Ports and Special Economic Zone reported 20.88% YoY rise in revenues for the quarter ended December 2019, at Rs3,830.43 crore. Net profits declined 4% to Rs1,352 crore.
     
    Jindal Saw reported a nearly flat 0.61% YoY rise in revenues for the quarter ended December 2019, at Rs3,009.89 crore. Net profits declined 35.53% to Rs89.55 crore.
     
    Bajaj Auto reported 3.1% decline in total sales at 3,94,473 units in January. The firm had sold a total of 4,07,150 units in January 2019.
     
    Shares of Shriram Transport Finance Company surged 13% as net profits grew 38.1% year on year (y-o-y) to Rs882 crore in the quarter ended December 2019.
     
    Profit before taxes rose 20.6% to Rs.1,186 crore on rise in other income and fall in loan losses and provisions.
     
    On Wednesday, the major indices continued to rally for the second day. On the NSE, there were 1,005 advances, 772 declines and 369 unchanged.
     
    V-mart Retail posted 20% year-on-year growth in revenues to Rs562.58 crore for the third quarter ended December 2019. Net profits grew 40% YoY to Rs58.22 crore.
     
    Oriental Aromatics posted 14% year-on-year fall in revenues to Rs176.56 crore. Net profits grew 5% YoY to Rs17.91 crore.
     
    Berger Paints India posted net profit of Rs.165.6 crores as against Rs.119 crores in the corresponding quarter of last year representing an increase of 39.1 % YoY.
     
    Revenue from operations was Rs.1,501.8 crores in December quarter as against Rs.1,460.2 crores in the previous year.
     
    State-run ITI withdrew its follow-on public offer to raise up to Rs.1,400 crore, citing prevailing market conditions as the reason. The issue remained undersubscribed despite two extensions in the share-sale period.
     
    On Thursday, The rally in the major indices continued for the third day. On the NSE, there were 1,021 advances, 756 declines and 369 unchanged.
     
    The Reserve Bank of India kept the benchmark rate of interest unchanged at 5.15% in view of the uptick in inflation.
     
    To boost growth and lift sentiment, the RBI has eased cash reserve ratio (CRR) requirement of commercial banks for sectors with multiplier effect including the residential housing segment. The other sector which would benefit from the decision are automobiles, and micro, small and medium enterprises (MSME). This exemption will be available for incremental credit extended up to the fortnight ending July 31, 2020.
     
    PSP Projects has received work orders worth Rs.41.68 crores (excluding GST) for an institutional and government project.
     
    Sun Pharmaceuticals reported a 26.43% year-on-year drop in net profits to Rs.913.52 crore compared with Rs.1,241.85 crore in the same quarter last year. Revenues rose 4.98% to Rs8,038.65 crore from Rs7,656.71 crore last year.
     
    In the December quarter, Lupin’s consolidated loss increased to Rs.835 crore from Rs.151.75 crore in the same quarter last year. Sales for the quarter dropped 2.75% to Rs.3,716.09 crore from Rs.3,821.19 crore last year.
     
    On Friday, the major indices faced a minor correction. On the NSE, there were 918 advances, 888 declines and 116 unchanged.
     
    Religare Enterprises has entered into a pact with Kedaara Capital for divesting 6.76% stake in its arm Religare Health Insurance for Rs 200 crore.
     
    Maruti Suzuki India has launched an updated BS VI variant of the Ignis, which will now also be available in two new color options for the consumers. 
     
    In its ninth consecutive cut in MCLR by a bank in the current fiscal, India's top lender State Bank of India (SBI) announced a cut in the retail fixed deposits or FD rates effective from February 10.
     
    The Indian tax authorities visited and conducted search at multiple locations of UPL’s premises in India. During the course of this process they have collected documents and have interviewed key personnel. UPL believes that the search was to understand and review the company's international operations and transactions.
     
    Themis Medicare reported 17.40% year-on-year growth in revenues to Rs56.68 crore for the quarter ended 31 December 2019. Net profits grew manifold to Rs10.66 crore from Rs0.50 crore in the same quarter last year.
     
    UPL reported 80% year-on-year growth in revenues to Rs8,912 crore for the quarter ended 31 December 2019. Net profits grew 52% to Rs701 crore from Rs461 crore in the same quarter last year.
     
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