{LONGTERMINVESTORS} Fwd: Morning Call

 

Dear all,

Markets extend gains for fifth day

Ø  Benchmark indices rose for a fifth consecutive session, with firm global cues and encouraging earnings updates from the corporate like of Coal India and Hindalco Industries offering support.

Ø  Global risk appetite was muted as the weakness in the gold continues making new 3 month lows & oil prices registering marginal gains with concerns about prospects of higher interest rate in U.S.

   Global Macro

Ø  Greek GDP shrank 0.5% for the first  quarter 2016 after growing by a meager 0.1% in the previous period.

Ø  Canadian producer prices were down by 0.5% in month in April of 2016, following 0.6% drop in March of 2016.

Corporate Buzz 

Ø  Tata Motors's consolidated net sales increased by 18.8%YoY to INR 799.2bn in 4QFY16 driven by strong performance of its British arm JLR and robust volume growth of its heavy and medium commercial vehicles. It reported an increase in PAT by 201.6%YoY to INR 51.7bn in 4QFY16.

Ø  M&M's standalone revenue increased by 14.5%YoY to INR 108bn in 4QFY16 on healthy volume growth in both auto and tractor segment. PAT increased by 6%YoY to INR 5.8bn in 4QFY16.

Ø  Sun Pharma's consolidated total income from operations increased by 24.9%YoY to INR 76.3bn in 4QFY16 and PAT increased by 92.7%YoY to INR 17.1bn in 4QFY16.

Ø  Berger paints's consolidated income from operations increased by 8.6%YoY to INR 11.2bn in 4QFY16 and PAT increased by 59.8%YoY to INR 0.93bn in 4QFY16.

Ø  Sundaram Finance's standalone PAT increased by 34.1%YoY to INR 1.2bn in 4QFY16. Disbursements increased by 11.5%YoY to INR 28.9bn in 4QFY16. NPA stood at 0.92% as on March 31, 2016.

Ø  Coal India's consolidated total income from operations increased marginally by 0.3%YoY to INR 214bn in 4QFY16 and PAT increased by 0.2%YoY to INR 42.4bn in 4QFY16.

Ø  NTPC's consolidated total income from operations decreased by 2.4%YoY to INR 787bn in 4QFY16 and PAT increased marginally by 2%YoY to INR 101.8bn in 4QFY16.

Ø  Maruti Suzuki temporarily suspend production at both its plants beginning Monday afternoon as supply of components from Subros has been hit following a fire.

Ø  Yes Bank partnered with Click&Pay, a mobile payment solutions enterprise, to facilitate cashless, secure and flexible transactions for customers.

Outlook

Ø  Benchmark indices are likely to open on a flat to positive note, tracking mixed cues from US markets.

Link

Click here to view Morning Call

Regards,

CSEC Research

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