Dear all,
Markets soar on global cues, earnings
Ø Benchmark indices posted strong gains on Tuesday as oil prices rebounded from overnight losses and Maruti Suzuki, India's largest car maker, delivered better-than-expected quarterly earnings. A rebound in rupee heading into the Fed policy meeting and media reports that India had its highest-ever FDI inflow.
Ø Global risk appetite was weak amidst weaker than expected U.S. durable goods orders and consumer confidence data, investors also awaited earnings reports from some large U.S. companies.
Global Macro
Ø U.S. consumer confidence index dropped to 94.2 in April from a revised 96.1 in March of 2016.
Ø U.S. durable goods orders climbed by 0.8% in March of 2016 after tumbling by a revised 3.1% in February.
Ø U.S. composite home price index was up 5.4% YoY in February of 2016, down from 5.7% in January of 2016.
Corporate Buzz
Ø Axis bank reported 1.2% YoY decline in standalone profit to INR 21,542.8mn in 4QFY16. Total income increased by 9.8% YoY to INR 135,929.7mn in 4QFY16.
Ø Maruti reported 11.7% YoY decline in standalone profit to INR 11,336mn in 4QFY16. Standalone revenue increased by 12.3% YoY to INR 153,067mn in 4QFY16.
Ø Syngene International reported 18% YoY rise in net profit to INR 665mn in 4QFY16. Revenue increased by 31% YoY to INR 3,340mn in 4QFY16.
Ø Bharti Infratel reported 19% YoY rise in net profit to INR 6.62bn in 4QFY16. Revenue grew by 7% YoY to INR 31.62bn in 4QFY16.
Ø State Bank of Mysore reported a 23% YoY dip in profits to INR 1.05bn in 4QFY16. Total income grew by 1% YoY to INR 20.76bn in 4QFY16.
Ø State Bank of Travancore reported 68% YoY decline in its net profit to INR 620mn in 4QFY16. Total income rose to INR 28.01bn in 4QFY16 from INR 27.03bn in 4QFY15.
Ø Tata Sponge Iron reported a 49.47% YoY increase in consolidated net profit to INR 128.1mn in 4QFY16. Net sales dipped by 12.18% YoY to INR 1403.7mn in 4QFY16.
Ø Glenmark Pharmaceuticals received a tentative nod from the US health regulator for generic version of oral contraceptive tablets Lo Loestrin Fe.
Ø Government to sell 11.36% equity shares in electricity generator NHPC Ltd at INR 21.75 apiece to raise about INR 27bn.
Outlook
Ø Markets are likely to open on a cautious note as investors are likely to keep a close eye on the FOMC accompanying statement for clues about the outlook for the next meeting in June .
Link
Click here to view Morning Call
Regards,
CSEC Research
You received this message because you are subscribed to the Google Groups "LONGTERMINVESTORSRESEARCH" group.
To unsubscribe from this group and stop receiving emails from it, send an email to longterminvestorsresearch+unsubscribe@googlegroups.com.
Visit this group at https://groups.google.com/group/longterminvestorsresearch.
For more options, visit https://groups.google.com/d/optout.
No comments:
Post a Comment