The Curious Case of TAKE Solutions - I
TAKE Solutions is a mid-cap, listed software company with a unique business model. It started as a supply chain management software company, almost 18 years ago, in Chennai and now “delivers domain-intensive services in Life Sciences,” offering its clients clinical, regulatory and safety services, from clinical trials to regulatory submissions to post-marketing safety, “all backed by...
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Nifty, Sensex Turn Trendless – Wednesday closing report

We had mentioned in Tuesday’s closing report that Nifty, Sensex might log in gains. The major indices of the Indian stock markets were flat after an initial rally. On the NSE, there were 737 advances, 979 declines and 341 unchanged. The trends of the major indices in the course of Wednesday’s trading are given in the table below:

 

 
The key equity indices traded flat on Wednesday as higher wholesale inflation and caution during the ongoing assembly polls in five states weighed on the domestic investor sentiments. Although, crude oil prices eased and rupee appreciated during the day but positive sentiments eroded as the day progressed, analysts said. India's annual rate of inflation based on wholesale prices rose to 5.28% in October from 5.13% in September, the Commerce Ministry data said. Selling pressure was witnessed in export-oriented stocks like IT (information technology) and healthcare as the domestic currency appreciated to Rs72.16 to a US dollar from its previous close of 72.67. In addition the benchmark Brent Crude registered a steep decline to $65.42 a barrel. However, the index pivotals -- finance and banking stocks -- traded in the green.
 
India's annual rate of inflation based on wholesale prices rose to 5.28% in October from 5.13% in September, official data showed here on Wednesday. Even, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry was higher than 3.68% reported for the corresponding period of 2017. "The annual rate of inflation, based on monthly WPI, stood at 5.28% (provisional) for the month of October (over October, 2017) as compared to 5.13% (provisional) for the previous month and 3.68% during the corresponding month of the previous year," the data showed. "Build up inflation rate in the financial year so far was 4.64% compared to a build-up rate of 2.12% in the corresponding period of the previous year," the Commerce Ministry official statement said. 
 
IDBI Bank reported Q2FY19 results with net interest income (NII) at Rs1,300.86 crore (Rs1,657.45 crore), down 21.5% year-on-year. Losses were at Rs3,602.49 crore (Rs197.84 crore). Provisions were at Rs5,481.64 crore (Rs2,842.15 crore). Gross non-performing assets (GNPA) were at 31.78% (24.98%) and net non-performing assets (NNPA) were at 17.30% (16.06%). The bank’s shares closed at Rs60.75, up 1.33% on the NSE.
 
Mahindra & Mahindra reported Q2 FY19 (standalone) results with revenues at Rs12,988.57 crore (Rs12,183.65 crore), up 6.6% year-on-year. Profit after tax was at Rs1,649.46 crore (Rs1,331.57 crore), up 23.90% year-on-year. Earnings per share were Rs13.86 (Rs11.20). Mahindra & Mahindra shares closed at Rs772.15, down 2.27% on the NSE.
 
Pfizer reported Q2FY19 (standalone) results with revenues at Rs519.74 crore (Rs571.11 crore), down 9% year-on-year.  Net profit was at Rs95.80 crore (Rs111.15 crore), down 13.80% year-on-year. Earnings per share were at Rs20.94 (Rs24.29). The company’s shares closed at Rs2,800.00, down 2.16% on the NSE.
 
SpiceJet reported Q2FY19 (standalone) results with total income of Rs1,880.80 crore (Rs1,811.40 crore), up 3.80% year-on-year. Losses were at Rs389.30 crore (net profit of Rs105.20 crore). Earnings per share were at Rs minus 6.50 (Rs1.76). The airline’s shares closed at Rs83.70, up 2.83% on the BSE.
 
Motherson Sumi Systems reported Q2 FY19 (consolidated)results with total revenues at Rs15,104.97 crore (Rs13,420.43 crore), up 12.60% year-on-year. Net profit was at Rs371.07 crore (Rs436.20 crore), down 14.9% year-on-year. Earnings per share were Rs1.18 (Rs1.38). The company’s shares closed at Rs153.60, down 7.58% on the BSE.
 
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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COMMENTS

Ramesh Bajaj

1 month ago

The markets are obviously under pressure.

Nifty, Sensex May Log in Gains – Tuesday closing report

We had mentioned in Monday’s closing report that Nifty, Sensex were under pressure. The major indices of the Indian stock markets rallied on Tuesday and closed with gains over Monday’s close. On the NSE, there were 875 advances, 848 declines and 339 unchanged. The trends of the major indices in the course of Tuesday’s trading are given in the table below:

 

 
Positive global cues along with an ease in global crude oil prices pushed the key equity indices in the green on Tuesday. The benchmark Brent Crude eased to $69.38 a barrel after it surpassed the $71 mark on Monday. As a result, S&P BSE Oil and gas index gained 1.43, most among all the 19 sectors on BSE. However, the index pivotals - finance and banking stocks - traded in red. Oil prices fell by more than 1% on Tuesday, with Brent crude sliding below $70 a barrel and WTI below $60 per barrel, after US President Donald Trump put pressure on OPEC not to cut supply to prop up the market, said market analysts. US West Texas Intermediate (WTI) crude oil futures were at $59.06 per barrel at 0115 GMT, down 87 cents, or 1.5% from their last settlement. We are expecting a correction again in crude oil towards $58 to $55 in WTI Crude oil, analysts added.
 
Oil markets are entering a period of renewed uncertainty and volatility, including a possible supply gap in the early 2020s, the International Energy Agency (IEA) said on Tuesday.
 
Jet Airways reported a net loss of Rs1,297.46 crore for the second quarter ended September, against a net profit of Rs49.63 crore a year ago. On a consolidated basis, the airline's net loss stood at Rs1,261 crore for the second quarter of the current fiscal year ending March, against a net profit of Rs71 crore in the year-ago quarter. The private carrier said that it faced a tough industry environment in the backdrop of a sharp rise in Brent fuel price by more than 50% during the quarter, a depreciating rupee and a challenging pricing situation in an over-capacitated domestic market. "At the strategic level, the company remains committed and is on track to realise most of the outcomes that were outlined as part of its turnaround strategy last quarter...," the company said in a statement. The company’s shares closed at Rs254.65, up 5.21% on the BSE.
 
Wall Street closed with heavy losses on Monday, the Dow Jones Industrial Average falling 2.32% on a day marked by concerns about a deceleration in world economic growth and plunges in tech giants such as Apple, which fell more than 5%. At the close of regular trading, the DJIA - the main indicator for US stocks - had lost 602.12 points, coming to rest at 25,387.18, while the S&P500 index fell 1.97% to 2,726.22 and the NASDAQ index - which includes the important tech companies - dropped 2.78% to 7,200.87, Efe reported. Almost all market sectors ended the day in negative territory with tech stocks falling 5.54%, discretionary consumer goods by 2.31%, energy 2.14% and both finance and industrials by 1.99%. Only the real estate sector was in the green on Monday, with a slight rise of 0.20%. Wall Street analysts blamed investor pessimism as the backdrop for concerns about economic growth that they fear may have reached its peak. Also, investors were said to be fearful of new tariffs resulting from trade tensions and the Federal Reserve's potential interest rate hike next month.
 
India's industrial output growth slipped to 4.5% in September from a rise of 4.66% in August, official data showed on Monday. However, the data released by the Ministry of Statistics and Programme Implementation showed that the Index of Industrial Production (IIP) in September 2017 had grown at a slower rate of 4.1%. "The cumulative growth for the period April-September 2018 over the corresponding period of the previous year stands at 5.1%," the 'Quick Estimates' of IIP released by the ministry said. On the YoY (year-on-year) basis, the output of manufacturing sector expanded by 4.6%, while mining production inched-up by 0.2% and the sub-index of electricity generation increased by 8.2%. Among the six use-based classification groups, the output of primary goods which has the highest weightage of 34.04 grew by 2.6%. Intermediate goods output (which has the second highest weightage) inched up by 1.4%. Similarly, consumer non-durables output rose during the month by 6.1% and that of consumer durables by 5.2%. In addition, infrastructure or construction goods output increased by 9.5% and capital goods by 5.8%.
 
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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