The Anatomy of a Multibagger: What Worked for DFM Foods
DFM Foods Ltd is in the business of manufacturing, selling and marketing of packaged snack foods. The flagship product of the company is CRAX Corn Rings, which was launched in 1984 and was claimed to be India’s first successful packaged local snack food. The current portfolio of the company has 15 products comprising traditional Indian namkeens, including the CRAX Namkeen...
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  • Nifty, Sensex in No Man’s Land – Tuesday closing report

    We had mentioned in Monday’s closing report that Nifty, Sensex might head higher. The major indices of the Indian stock markets were range-bound on Tuesday and ended flat over Monday’s close. On the NSE, there were 735 advances, 981 declines and 329 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:

     

     
    The key Indian equity indices traded marginally higher on Tuesday following broadly positive cues in the global markets. Selling pressure on the capital goods and consumer durables stocks restricted further gains, market analysts said. Finally, at the end of the day’s trading the marginal gains were not sustained and the major indices ended flat on Tuesday over Monday’s close.
     
    Automobile major Maruti Suzuki on Tuesday said that it will carry out a "Service Campaign" for its new Swift and Baleno models to inspect for a possible fault in their "brake vacuum hose". According to the company, around 52,686 new Swift and Baleno vehicles manufactured between December 1, 2017 and March 16, 2018 will be covered in this campaign.  "Starting 14th May 2018 owners of the vehicles included in this service campaign will be contacted by dealers for inspection and replacement of the faulty part," the company said in a notice on its website.  "Service campaigns are undertaken globally by automobile companies to rectify faults that may potentially cause inconvenience to customers. The inspection and replacement will be done free of cost for the customer." Maruti Suzuki shares closed at Rs8,775.20, up 0.30% on the NSE.
     
    Indian tea industry recorded the highest ever production of 1,325.05 million kg as well as export of 256.57 million kg during the financial year 2017-18, official figures released on Tuesday revealed. Tata Global Beverages shares closed at Rs289.70, down 1.60% on the NSE.
     
    New tariffs imposed by US President Donald Trump on international imports of steel have led to a sharp rise in the supply of commodity on European markets, the Federation of the German Steel Industry warned on Monday. So far, there has been no impact on the steel industry in India in this regard. Tata Steel shares closed at Rs596.35, down 0.50% on the NSE.
     
    Financial services major DSP Group on Monday announced that it will buy out BlackRock’s 40% stake in joint venture DSP BlackRock Investment Managers Pvt. Ltd, subject to regulatory approvals. 
     
    Battery maker Exide Industries reported a 15.4% rise in its standalone net profit for the fourth quarter of 2017-18. The company reported a standalone net profit of Rs189.56 crore for the quarter-ended March 31, 2018 compared to Rs164.26 crore reported during the corresponding period of 2016-17. Further, its total standalone income during the period under review rose by 10.94% to Rs2,479.69 crore from Rs2,235.21 crore earned in the same period of the previous financial year. However, for the last financial year, the company reported a fall of 3.65% in its net profit to Rs668.35 crore from Rs693.64 crore reported in the previous fiscal.
     
    Commenting on the results, Exide Industries' MD and CEO G.Chatterjee said: "Volumes in automotive, motorcycle, inverter, UPS, telecom and solar batteries as well as in other infrastructure segments were strong during the fourth quarter."  The company added that its Board has recommended payment of a final dividend of 80 per cent (Rs0.80 per share of face value of Re 1 each) for the financial year ended 31st March, 2018. "Consequently, the total dividend for the year ended 31st March, 2018 including the interim dividend of 160% (Re1.60 per share of face value of Re 1 each) paid during the year amounts to 240% (Rs2.40 per share of face value of Re1 each)," the company said in a statement. Exide Industries shares closed at Rs267.45, up 2.38% on the NSE.
     
    After reporting a 50% decline in its standalone net profit for the quarter ended March 31, 2018, private sector lending major ICICI Bank said that it plans to deploy a "preserve, change and grow" strategy to get back to the growth trajectory. The announcement about the new policy comes after the banking giant reported a massive decline in its net profit for the quarter and financial year ended March 31, 2018. According to bank's MD and CEO Chanda Kochhar the new policy entails growth of retail loan portfolio, reconciliation and resolution of the stressed assets. "Going forward, ICICI Bank's strategy will be anchored around three key anchors:
     
    Preserve, Change, Grow," Kochhar said during a press conference after the announcement of the quarterly and fiscal earning results. She also informed that the company's board meeting on Tuesday is a 'normal' one, to deliberate upon budget and strategy for the financial year ahead. The bank reported a massive decline of 49.63% in its standalone net profit for the fourth quarter of 2017-18. The bank's net profit for the quarter under review decreased to Rs1,020 crore from Rs2,025 crore reported for the corresponding period of the previous fiscal. However, ICICI Bank's net interest income inched up to Rs6,022 crore in the quarter ended March 31, 2018 from Rs5,962 crore earned in the period ended March 31, 2017. On consolidated basis, the company's net profit for the fourth quarter declined by 45.17% to Rs1,142 crore from Rs2,083 crore reported for the corresponding period of previous fiscal. As per a BSE filing, the gross NPA (Non-Performing Asset) additions of Rs15,737 crore in Q4. This includes Rs9,968 crore of loans which were under RBI schemes and were classified as standard at December 31, 2017. "During Q4-2018, the gross additions to NPA were Rs15,737 crore in Q4-2018. This included Rs9,968 crore of loans which were under RBI schemes and classified as standard at December 31, 2017. The Revised Framework for Resolution of Stressed Assets issued in February 2018 discontinued these schemes," the company said in a statement.  "Recoveries and upgrades from non-performing loans were Rs 4,234 crore in Q4-2018." Besides, the company's standalone net profit for the fiscal ended March 31, 2018 dropped by 30.85% to Rs6,777 crore from Rs9,801 crore for the year ended March 31, 2017 (FY2017). In addition, the company's consolidated net profit for the fiscal under review declined by 24.30% to Rs7,712 crore from Rs10,188 crore in FY2017. The company's Board has recommended a dividend of Rs1.50 per share saying that the declaration of dividend is subject to requisite approvals. ICICI Bank shares closed at Rs309.30, up 6.45% 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:
     
     
     
  • User

    Equitas Holdings: Turning Around
    Equitas Holdings is a scheduled small bank which was earlier a microfinance company. Equitas launched microfinance lending in 2007. It  then launched vehicle financing and housing finance in 2011 and SME (small and medium enterprise) lending and LAP (loan against property) lending in 2013. It received the first small finance bank licence from the Reserve Bank of India (RBI) in 2015. It went...
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