TCS stock flat ahead of Q2 results

The company is scheduled to announce its September quarter earnings today.

Shares of TCS are trading marginally lower at Rs. 2,584 on BSE today. The company is scheduled to announce its September quarter earnings today.

As per IIFL estimates, sales for TCS is expected to grow by 15.7% YoY and 7.4% QoQ to Rs. 27,560 crore. A strong and sizeable digital business and sustained impressive client mining will drive growth. Profit after Tax (PAT) is estimated at Rs. 6439 crore, surging 21% yoy and 12.1% qoq.

The scrip opened at Rs. 2605 and has touched a high and low of Rs. 2612.45 and Rs. 2568.05 respectively. So far 1457274(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 507773.39 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2810 on 04-Mar-2015 and a 52 week low of Rs. 2348.25 on 16-Dec-2014. Last one week high and low of the scrip stood at Rs. 2725.4 and Rs. 2585.3 respectively.

The promoters holding in the company stood at 73.86 % while Institutions and Non-Institutions held 21.67 % and 4.47 % respectively.

The stock is currently trading above its 50 DMA.

TCS Earnings: What's in store?

The earnings season was kicked-off by a robust performance by IT bellwether Infosys, which reported a much higher 6.9% qoq growth during Q2 FY16. All eyes now rest on other IT giant TCS, which is expected to post solid revenue growth of 5%+ qoq in constant currency (cc) terms.

The second quarter of a fiscal year has traditionally been the strongest period for India IT companies characterized by robust volume growth and significant margin expansion. However, the pervasiveness of this pattern would be challenged this time around due to prevalence of client, vertical or service line specific challenges for few industry players. So, the growth delivery could significantly vary across companies. A non‐operational growth headwind would be the adverse cross currency movement that is likely to have an impact of 0.4‐0.8% on reported numbers.   

The earnings season was kicked-off by a robust performance by IT bellwether Infosys, which reported a much higher 6.9% qoq growth during Q2 FY16. All eyes now rest on other IT giant TCS, which is expected to post solid revenue growth of 5%+ qoq in constant currency (cc) terms.

As per IIFL estimates, sales for TCS is expected to grow by 15.7% YoY and 7.4% QoQ to Rs. 27,560 crore. A strong and sizeable digital business and sustained impressive client mining will drive growth. Profit after Tax (PAT) is estimated at Rs. 6439 crore, surging 21% yoy and 12.1% qoq.

Tata Consultancy Services will announce its quarterly earnings in evening on October 13.

Stock Information

Tata Consultancy Services Ltd is currently trading at Rs. 2586.85, down by -5.55 points or -0.21% from its previous closing of Rs. 2592.4 on the BSE.

The scrip opened at Rs. 2605 and has touched a high and low of Rs. 2612.45 and Rs. 2568.05 respectively. So far 1284114(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 507773.39 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2810 on 04-Mar-2015 and a 52 week low of Rs. 2348.25 on 16-Dec-2014. Last one week high and low of the scrip stood at Rs. 2725.4 and Rs. 2585.3 respectively.

YES Bank included in Dow Jones Sustainability Indices; up 1%

YES BANK has become the first Indian bank to be selected in Dow Tones Sustainability Indices.

YES BANK has become the first Indian bank to be selected in Dow Tones Sustainability Indices.

The scrip opened at Rs. 725 and has touched a high and low of Rs. 736 and Rs. 724.5 respectively. So far 1491255(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 30341.46 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 910 on 04-Mar-2015 and a 52 week low of Rs. 562.05 on 10-Oct-2014. Last one week high and low of the scrip stood at Rs. 756.7 and Rs. 720.5 respectively.

The promoters holding in the company stood at 22.04 % while Institutions and Non-Institutions held 65.71 % and 12.25 % respectively.

The stock is currently trading above its 200 DMA.

BHEL gains 1.14%

The company announced that it has commissioned 2,730 MW of utility power projects in the first half of the current financial year (2015-16).

Shares of BHEL is trading up 1.14% at Rs 207.50 after the company announced that it has commissioned 2,730 MW of utility power projects in the first half of the current financial year (2015-16). The company also commenced supply of 660 MW power generation at Lalitpur TPS in Uttar Pradesh.

The scrip opened at Rs. 208 and has touched a high and low of Rs. 209.9 and Rs. 206.3 respectively. So far 2094160(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 50322.66 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 299.5 on 04-Feb-2015 and a 52 week low of Rs. 192.1 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 208.7 and Rs. 197.15 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.21 % and 3.73 % respectively.

The stock is currently trading above its 200 DMA.

Tata Steel stock down 3%

Foreign institutional investors reduced their stakes in the company by up to 3 percentage points during the September quarter.

Shares of Tata Steel were lower by 3% at Rs. 244.

Report says that Foreign institutional investors reduced their stakes in the company by up to 3 percentage points during the September quarter.

The scrip opened at Rs. 248.7 and has touched a high and low of Rs. 248.7 and Rs. 243.55 respectively. So far 2880141(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 24392.08 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 495.3 on 03-Nov-2014 and a 52 week low of Rs. 200 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 261.95 and Rs. 223.15 respectively.

The promoters holding in the company stood at 31.35 % while Institutions and Non-Institutions held 41.11 % and 25.56 % respectively.

The stock is currently trading below its 200 DMA.

Companies raise Rs. 4,950 cr via IPO in H1FY16

At present, 19 companies planning to raise Rs. 11,545 crore are holding SEBI approval and another 17 companies intending to raise Rs. 6,795 crore have filed with SEBI and are awaiting approval, Pranav Haldea, Managing Director of Prime Database has been quoted as saying.

Indian companies have raised  Rs. 4,950 crore through the initial public offerings (IPO) in the first half of the current fiscal year, according to Prime Database.

In the first half of FY15, domestic companies had raised  Rs. 1,017 crore through IPOs.

What's more, fund-raising through IPO is expected to gain traction going ahead, as more than 30 companies have filed draft papers with market regulator the Securities & Exchange Board of India (SEBI).

At present, 19 companies planning to raise Rs. 11,545 crore are holding SEBI approval and another 17 companies intending to raise Rs. 6,795 crore have filed with SEBI and are awaiting approval, Pranav Haldea, Managing Director of Prime Database has been quoted as saying.

Meanwhile, Indian companies raised an additional Rs. 12,916 crore in the first six months of FY16 through the offer-for-sale (OFS) route due to the Government's disinvestment programme.

This is the best first half for the primary market since FY08, when INR 31,831 crore was raised.

Grab the best fashion deals on Flipkart Big Billion Day 1

This year, along with Flipkart’s extensive connection, Myntra joins the five days—making the fashion selection bigger and better for customers shopping during The Big Billion Days.

Flipkart, India’s largest online marketplace is all set to kick-off the five day mega sale with its fashion category. Starting tomorrow and running all the way till the 17th of October 2015, customers can shop from a wide range of apparel, footwear & accessories (sunglasses, watches, perfumes, bags, belts, etc).

This year, along with Flipkart’s extensive connection, Myntra joins the five days—making the fashion selection bigger and better for customers shopping during The Big Billion Days. Be it a pair of premium French Connection jeans, a Wildcraft bag or a funky pair of RayBan sunglasses, customers will be able to shop to their hearts content during these five days.

With one of the widest range of fashion products on offer, customers during the sale can expect discounts ranging from 50% - 80% on a large variety of global & domestic fashion brands. Here are a few top deals and offers to watch out for:

Apart from the massive discounts, shoppers using select debit and credit cards can get a 10% cash back on purchases. Users of State Bank of India debit and credit cards can avail this additional benefit on shopping with their cards.

The Big Billion Days will launch at midnight today (12:00 am on 13th October 2015,) opening with the fashion sale that will run for the next five days, until seller stocks last. 

Cox & Kings surges on acquisition of Late Rooms

The company has acquired 100% of the issued and outstanding shares of Late Rooms Ltd (UK) ("LateRooms") for GBP 8.5 million.

Shares of  Cox  & Kings were higher by 2% at Rs. 250. The company  has acquired 100% of the issued  and  outstanding shares of  Late Rooms Ltd (UK)  ("LateRooms") for GBP 8.5 million.

The scrip opened at Rs. 248.5 and has touched a high and low of Rs. 256 and Rs. 248.5 respectively. So far 123663 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4182.92 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 343.9 on 20-Feb-2015 and a 52 week low of Rs. 200.25 on 21-Sep-2015. Last one week high and low of the scrip stood at Rs. 248.8 and Rs. 215.8 respectively.

The promoters holding in the company stood at 48.12 % while Institutions and Non-Institutions held 38.89 % and 12.74 % respectively.

The stock is currently trading below its 200 DMA.

Top economy news of the day- October 13, 2015

Industrial Production grew by 6.4% for the month of August, an improvement over the 4.1% growth registered in the month of July and 0.5% growth in August last year. The manufacturing sector recorded 6.9% growth, electricity generation recorded 5.6% growth while mining output increased 3.8%.

Industrial Production grew by 6.4% for the month of August, an improvement over the 4.1% growth registered in the month of July and 0.5% growth in August last year. The manufacturing sector recorded 6.9% growth, electricity generation recorded 5.6% growth while mining output increased 3.8%.

India's retail inflation based on the consumer price index (CPI) for September increased to 4.41%, from 3.74% recorded for the previous month, on the back of higher food prices. The CPI for September last year was at 5.63%.

Car exports from India declined marginally to 267,043 units in the first six months of the current fiscal due to challenges in various markets including Sri Lanka and Bangladesh. India had exported 268,863 units in the same period of last fiscal.  

Natural rubber production declined 15% in September to 51,000 tonnes and so did the imports, which fell 24% to 32,933 tonnes from a year ago.

Top Corporate news of the day - October 13, 2015

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

Lanco Infratech has pre-closed Rs2.1bn term loan with Yes Bank and expects cash flows to increase within 2-3 years after its projects become operational.  The term loan was taken for a couple of solar power projects that are operating well and have healthy cash flows, it said. However, the company said that other term loans of Rs610mn from Yes Bank for its solar power projects are continuing.

Steel major JSW Steel said its crude steel production was lower at 3.25 million tonnes (MT) for the second quarter as compared to 3.30 MT in Q2 last year as one of the blast furnaces at Vijayanagar works was taken under shut down for relining and is expected to be re-commissioned in early December 2015.

Energy solutions provider Inox Wind has bagged 50 Mw wind power project order from Tata Power Renewable Energy Ltd (TPREL) in Madhya Pradesh. The order is TPREL's third project with Inox Wind after two previous orders of 172 Mw. TPREL is a 100% subsidiary of Tata Power and has 300 Mw of commissioned renewable assets.

The state-owned Bharat Heavy Electricals (BHEL) said it has commissioned 2,730 MW of utility power projects in the first six months of 2015-16.  It is more than double the power project commissioning achievement of 1,167 MW in the corresponding period of last year, the company said in a statement. 

Jayaswal Neco Industries, a mining and steel company, has defaulted on its Rs44bn of loans to banks triggering a rating down grade to junk by ICRA, puffing up the bad loans of a banking system that is already reeling under the weight of bad loans.

Environment Ministry's green panel EAC has approved drug maker Aurobindo Pharma's proposal to expand its bulk drugs facility in Medak district in Telangana, entailing an investment of about R3bn. The Hyderabad-based firm had sought green nod for increasing the production at its bulk drugs unit in Medak district to 421.2 tonnes per month (TPM) from the existing 96 TPM. 

Suzlon has commissioned 50.40-MW wind power turnkey project for Ostro Energy Pvt Ltd (owned by Actis). This is Ostro’s first wind power project in India. Located in Jaisalmer, Rajasthan and comprising 24 WTGs (Wind Turbine Generators) of 2.1 MW each, it is an integral part of Suzlon’s Jaisalmer wind park, billed to be the country’s largest wind park with a cumulative capacity over 1,300 MW. 

Hindustan Construction Company (HCC) has bagged Rs9.4bn worth contract from BARC to construct first phase of its Integrated Nuclear Recycle Plant. The scope of work includes construction of fuel processing plant, lab building, disposable material block along with in-situ fabricated stainless steel tanks and liners and electromechanical works. 

RBI turns net seller in Fx market in August

According to the latest data, the RBI turned net sellers of foreign currency at US$1,559 million compared with net buying of US$169 million in July.

For the first time in a year, the Reserve Bank of India (RBI) turned net sellers of foreign currency in August to help arrest the slide in the rupee against leading world currencies.

According to the latest data, the RBI turned net sellers of foreign currency at US$1,559 million compared with net buying of US$169 million in July.

The central bank bought US$4.486 billion from the market while it sold US$6.045 billion in the reporting month, RBI said in its monthly bulletin.

The last time the RBI had turned net seller was in August 2014 at US$511 million.

The rupee lost 3.65 per cent in August to end at 66.48 against the US dollar.

In the forwards dollar market, the outstanding net forward purchase at the end of August stood at US$2.901 billion as against the purchase of US$4.599 billion as of end July

12 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Hero MotoCorp: Hero MotoCorp launched a new version of its 'Splendor Pro' bike, which is priced at Rs 46,850 (ex-showroom Delhi).

Cox  & King: The  Cox  & Kings Group  ("Cox &  Kings" or  "the Group")  has acquired 100% of the issued  and  outstanding shares of  Late Rooms Ltd (UK)  ("LateRooms") for GBP 8.5 million.

Indian Oil Corporation is planning to invest about $5 bn (nearly Rs 32,500 crore) to expand its exploration and production business. The company is slated to go into acquisition of new assets that are increasingly becoming available in the wake of a global crude oil crash.

Hindalco Industries: The SC asked the CBI to deal as per law with the diaries and cash seized from an office of Hindalco Industries, whether they were related to coal block allocation cases or not.

IndusInd Bank: The bank has entered into an agreement with Tata AIA Life Insurance to sell insurance policy of Tata AIA through the bank's branches after its arrangement with Aviva Life Insurance ended.

Reliance Industrial Infrastructure: The net profit for the quarter was at Rs. 4.2 Crore as compared to Rs 5.4 Cr (YoY).The income from Operations was at Rs 21.5 Crore.

Lanco Infratech Ltd: The company pre-closed its outstanding term loan with Yes Bank to the extent of Rs. 205.42 Cr by obtaining lower interest rate term loan from another bank.

D B Corp: The company announced that Dainik Bhaskar and Divya Marathi have acquired 14 frequencies in the Phase III auctions. Out of the 14, 9 frequencies have been acquired in Maharashtra, where MY FM is poised to become the biggest FM player (excluding Mumbai and Pune) and has created a strong complementary local ad medium to Divya Marathi.

Inox Wind: The company has bagged an order for a 50 MW wind power project at Lahori, Madhya Pradesh from Tata Power Renewable Energy (TPREL). The order is TPREL's third project with Inox Wind after two previous orders of 172 MW.

JSW Steel: The company reported Crude production at 3.25 mn Tons for Q2 2015-16. Crude steel production for the Second Quarter for the F.Y. 2015-16 was lower relative to that of last year as one of the Blast Furnaces at Vijayanagar works was taken under shut down for relining and is expected to be re-commissioned in early December 2015.

BHEL: BHEL has commissioned 2,730 MW of utility power projects in the first six months of 2015-16.  It is more than double the power project commissioning achievement of 1,167 MW in the corresponding period of last year, the company said in a statement.

Aurobindo Pharma: Environment Ministry's green panel EAC has approved Aurobindo Pharma's proposal to expand  bulk drugs facility in Medak district in Telangana.

Sensex, Nifty to open on a flat note

The market may remain choppy on account of earning and economic data, both domestically as well as globally. Rupee could remain higher on expectations of foreign investor inflows in government bonds and stock market

After a winning week, the indices gave some way on Monday triggered by a lower guidance by Infosys. The tech major delivered a strong operational performance in Q2 FY16 with constant currency revenue growth exceeding expectation and margin improvement in-line. However, a cautious growth outlook for H2 FY16 impacted stock sentiment as it endangers incremental growth recovery in FY17. Industrial Production was impressive as it grew by 6.4% for the month of August. Retail inflation based on CPI for September increased to 4.41%, from 3.74% the earlier month, on account of higher food prices.

The outlook is a flat start. TCS stock will be in focus as it announces its results. The market may remain choppy on account of earning and economic data, both domestically as well as globally. Rupee could remain higher on expectations of foreign investor inflows in government bonds and stock market. Over the previous 10 trading sessions, IVs across the globe have seen significant reduction as stability returned in the global market (CBOE Volatility index and India VIX are down 37/9% during the same period).  Sectors like FMCG, Pharma, Private Banks and IT are showing signs of tiredness at higher levels.

Profit booking was seen in Asian markets which have come lower following a crash in oil prices. US indices ended with minimal gains. Reports that OPEC continues to boost crude production despite a persistent glut fuelled weakness in oil. The Dow was up 0.28%, S&P 500 gained 0.13% and the Nasdaq added 0.17%.

Indian companies have raised Rs.4,950 crore through the initial public offerings (IPO) in the first half of the current fiscal year, according to Prime Database. In the first half of FY15, domestic companies had raised Rs. 1,017 crore through IPOs. What's more, fund-raising through IPO is expected to gain traction going ahead, as more than 30 companies have filed draft papers with market regulator the Securities & Exchange Board of India (SEBI).

Some institutional investors have opted to buy, and more may do so, the recently issued warrants of HDFC, betting that prices of these instruments would rise quicker than ordinary shares of the mortgage lender, says a report in ET.

RBI will today hold auction of Rs.156.37 bn of  bonds issued by 14 states.  For the first time in a year, the Reserve Bank of India (RBI) turned net sellers of foreign currency in August to help arrest the slide in the rupee against leading world currencies. According to the latest data, the RBI turned net sellers of foreign currency at US$1,559 million compared with net buying of US$169 million in July.

The Indian Railways plans to commission 6.85 km of tracks per day in the current fiscal year, up from 5.4 km a day in the last fiscal year. Overall, it will commission 2,500 km of tracks in FY16 against 1,980 km in FY15.

“Our consumption this year is expected to be 13 lakh tonnes of steel, 30 lakh tonnes of cement, 40,000 km of signaling cable and 7,000 tonnes of copper wire. This will be through a mix of direct and indirect demand. This is an assured demand,” V.K. Gupta, Member-Mechanical, Indian Railways has been quoted as saying.

The CBI is reportedly likely to register more FIRs into alleged loan defaults by Kingfisher Airlines, which is said to have diverted ~US$200 million to "tax havens". The Government agency is likely to register more FIRs to cover the additional INR 3100 crore loans taken by Kingsifher Airlines from 10 other nationalised banks on which it has allegedly defaulted, according to reports.

Piramal Fund Management Pvt. Ltd., the investment arm of the Piramal Group, is set to launch a new financing scheme to invest about INR 500 crore in plotted real estate projects, Managing Director Khushru Jijina has been quoted as saying.

The auction of investment limit in government securities for Foreign Portfolio Investors (FPI) saw aggressive bidding yet again on Monday. Foreign investors bid INR 172.66bn (US$2.67 billion), more than three times the INR 54.68bn in government debt limits on offer at an auction, according to media reports.

The Indian banks would require more than INR 5 lakh-crore capital to meet the global Basel III banking norms by March 2019, Assocham-NIBM study showed on Monday. "Given the credit growth expected in the short-to-medium term, the capital requirement of Indian banks would cross a huge level of INR 5 lakh crore while meeting the globally mandatory Basel III banking norms by March 31, 2019," according to the joint study titled 'Basel III standards: Concepts, Issues & Challenges'.

Bharat Heavy Electricals Limited (BHEL) has once again demonstrated its project execution prowess with the commissioning of 2,730 MW of utility power projects in the first half of the current financial year (2015-16).

Surana Telecom and Power Limited has announced that the Board of Directors of the Company at their Meeting held on October 12, 2015, interalia has finalised and approved the proposal for demerger of Solar Business of Bhagyanagar India Limited and merge with the Company in terms of the Scheme of Arrangement pursuant to the provisions of the Companies Act, 1956 / 2013.

Indian Oil Corporation is planning to invest about $5 bn (nearly Rs 32,500 crore) to expand its exploration and production business, according to reports. Report says that the company is slated to go into acquisition of new assets that are increasingly becoming available in the wake of a global crude oil crash.

YES BANK has received an approval from the Reserve Bank of India to sponsor a Mutual Fund and to setup a Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Companies shall be set up as wholly owned subsidiaries of YES Bank Limited.

Dell Inc. and EMC Corporation announced they have signed a definitive agreement under which Dell, together with its owners, Michael S. Dell, founder, chairman and chief executive officer of Dell, MSD Partners and Silver Lake, the global leader in technology investing, will acquire EMC Corporation, while maintaining VMware as a publicly-traded company.