Hindalco Industries Q2 net profit at Rs.103.3 crore, up 31%

The company’s total income has increased by 6.4 per cent to Rs.9,342.1 crore for the quarter under review from Rs.8,777.7 crore for the corresponding quarter of the previous year.

Hindalco Industries Ltd has announced the following Unaudited Standalone results for the quarter ended September 30, 2015 .

The company reported 31 per cent rise in its net profit at Rs.103.3 crore for the quarter ended September 30, 2015 as compared to Rs.78.8 crore for the same quarter in the previous year.

The company’s total income has increased by 6.4 per cent to Rs.9,342.1 crore for the quarter under review from Rs.8,777.7 crore for the corresponding quarter of the previous year.

Hindalco Industries Ltd is currently trading at Rs. 81.25, up by Rs. 1.45 or 1.82% from its previous closing of Rs. 79.8 on the BSE.

The scrip opened at Rs. 78.25 and has touched a high and low of Rs. 82.8 and Rs. 77.2 respectively. So far 64,63,153 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 16478.59 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 176.4 on 27-Nov-2014 and a 52 week low of Rs. 67.55 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 84.35 and Rs. 78.1 respectively.

The promoters holding in the company stood at 36.99 % while Institutions and Non-Institutions held 39.42 % and 15.98 % respectively.

The stock is currently trading below its 200 DMA.

Indigo Flying high! InterGlobe Aviation lists at Rs. 865; issue price was Rs.765

The aviation company has listed at Rs.865 per share vs issue price of Rs. 765 per share.

InterGlobe Aviation has rallied 14% to Rs.893 on NSE. The aviation company had listed at Rs.865 per share vs issue price of Rs. 765 per share. The InterGlobe IPO, received bids for over 6.14 times the shares on sale.

 

InterGlobe Aviation Ltd raised Rs. 3,010 crore ($458.91 million) in an initial public offering after setting the pricing at Rs 765 per share, according to reports.
A host of prominent investors including Rakesh Jhunjhunwala have invested in the IPO.

InterGlobe's IPO is among India's biggest since the listing of around $750 mn by Bharti Infratel Ltd in December 2012.

Reliance Infra starts toll operations at Kandla-Mundra Highway in Gujarat

Reliance Infra’s 100% owned Special Purpose Vehicle KM Toll Road Private Limited is executing the project in Gujarat’s Kutch district at a cost of Rs.1128 crore. The 4/6 lane highway connecting Gandhidham (Kandla) to Mundra port section of NH-8A (Extension) has been delivered on the basis of Design, Build, Finance, Operate and Transfer.

The 71 km-long Kandla - Mundra highway of Reliance Infrastructure Limited commenced tolling on November 7, 2015. With this, all the 11 highway toll projects of Reliance Infra, a Reliance Group Company, have started generating tolling revenue.

Reliance Infra’s 100% owned Special Purpose Vehicle KM Toll Road Private Limited is executing the project in Gujarat’s Kutch district at a cost of Rs.1128 crore. The 4/6 lane highway connecting Gandhidham (Kandla) to Mundra port section of NH-8A (Extension) has been delivered on the basis of Design, Build, Finance, Operate and Transfer (DBFOT). The highway connects two high commercial traffic ports of Kandla and Mundra, and has a long concession period of 25 years. Mundra is one of the largest private ports in the country and has a major container handling facility with a CAGR growth of ~ 53% over the last four years.

With the widening of the corridor, the average speed of vehicles is expected to increase from 45 kms/hr. to about 70 kms/hr., thereby reducing the travel time by 40% to 50% and saving about 30% fuel cost. Reliance Infra has built slip roads to the towns of Anjar and Gundala in order to provide seamless connectivity in the region.

Commenting on the development, a spokesperson of Reliance Infra said, “At a time when Road Infrastructure sector is grappling with stalled projects, Reliance Infra has commenced tolling operation in all the 11 highway projects within a span of 6 years time. The Government’s agenda of Make-in-India need world class infrastructure and our highway portfolio is dedicated to that.

“The Kandla – Mundra highway will provide hassle free, safe and smooth driving experience. The corridor will not only connect two major ports of India and an industrial zone but will also provide connectivity to nearby important towns like Gandhidham, Anjar, Gundala and Bhujpur. The corridor is expected to carry about 9,000 vehicles per day which will increase substantially in the coming years. For the safety and comfort of commuters, the corridor will also have 24x7 patrolling cars, ambulance service and a medical center.”

Keeping the traffic density in mind, the 14-lane toll plaza is equipped with state-of-the-art Toll Management System (TMS). The TMS provides real time video surveillance and real time alerts to Central Control Room to facilitate close monitoring of the plaza. The facility of emergency response room will make it possible to quickly locate an accident site and provide prompt medical assistance. While two vehicles will patrol the entire corridor of 71 km 24 x 7, there will also be available 24x7 ambulance service to ensure safety and security of the commuters.

Muhurat sessions usually positive, but hardly leave any cue

Stock exchanges conduct muhurat trading on the first day of the Hindu calendar's new accounting year, called Vikram Samvat, in the evening of the Diwali day. Usually brokers and traders indulge in muhurat trading and very few investors venture into it.

Muhurat trading used to be a landmark event for the stock market every year. But more than being a trend-setter, it involves more symbolism and it doesn't leave any cue on the near-term of long-term direction of the market.

Going by history, the stock market has traditionally done well in muhurat trading, notching up gains on 16 of last 20 occasions. Even when this day fell in between a major market downturn, the benchmark indices ended with gains. Only in the years 1995 (-0.80 per cent),  1997 (-3.33 per cent),  2007 (-0.79 per cent) and 2012 (-0.28 per cent), did Sensex close with losses.

If you look at the performance during the Samvat year, Sensex tanked 11.64 per cent in the Samvat that followed 1995 Diwali, 25 per cent in the one that followed 1997 Diwali and 52 per cent in the one that followed 2007 Diwali.

Only on four occasions during these 20 years has the Sensex gained more than 1 per cent. The only major jump happened during the ‘muhurat’ trading session of 28 October 2008. Here the Sensex went up by as much as 6 per cent. The index, which closed at 8,510 on the day before the eventful day, went on to close at 9,008. During the ‘muhurat’ session of 2010 (on November 5, Sensex closed at its highest in history till then, at 21,004.96 points, though the indices had gained just half a percentage ).

But what is more striking is the following day’s trade after ‘muhurat’ day. The Sensex has closed on a negative note on 10 out of the last 15 trading sessions on the next day. The story has been similar over the last couple of years; the index shed what it had gained on ‘muhurat’ trade. However, when the index gained 6% in 2008, it closed positive on the next day’s trading session as well. And it has been the only occasion in the last five years when the markets had closed positive on the day after ‘muhurat’ trading. So will Muhurat trading this year end with a bang... to be followed by a whimper?

Stock exchanges conduct muhurat trading on the first day of the Hindu calendar's new accounting year, called Vikram Samvat, in the evening of the Diwali day. Usually brokers and traders indulge in muhurat trading and very few investors venture into it.

While most people only invest token amounts to symbolise auspicious start to the new Samvat, over the years, some investors and traders have started using this occasion for intra-day trading to make a quick buck.

Dhanteras marks the first day of the five-day Diwali Festival in northern and western India, when Goddess Lakshmi and Lord Kubera, the God of assets and wealth, are worshiped to provide prosperity and well being. Some do not carry forward their trades, while few others pick blue chips or potential value bets to hold for the long term. This is why brokerages usually come out with long lists of potential value bets to nibble at during the mururat trading.

Prestige Estates dips 2.2%; Foreign investors can invest up to 49% under PIS

The RBI has notified that foreign institutional investors and registered foreign portfolio investors can now invest up to 49 per cent of the paid-up capital of Prestige Estates Projects under the portfolio investment scheme, following their holding slipping below the threshold.

Prestige Estates Projects has slipped 2.2% at Rs. 193 on BSE. The RBI has notified that foreign institutional investors and registered foreign portfolio investors can now invest up to 49 per cent of the paid-up capital of Prestige Estates Projects under the portfolio investment scheme, following their holding slipping below the threshold.

The scrip opened at Rs. 200 and has touched a high and low of Rs. 200.65 and Rs. 191.25 respectively. So far 172310(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7387.5 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 323.7 on 29-Jan-2015 and a 52 week low of Rs. 181 on 24-Aug-2015. Last one week high and low of the scrip stood at Rs. 207.1 and Rs. 194.8 respectively.

The promoters holding in the company stood at 70 % while Institutions and Non-Institutions held 25.66 % and 4.34 % respectively.

The stock is currently trading above its 200 DMA.

Persistent Systems gains 1% after acquiring Akumina

The IT Company has signed an agreement with Akumina to acquire the assets and hire the employees of Akumina's content management services business.

Persistent Systems has gained 1% at Rs.662 on BSE. The IT Company has signed an agreement with Akumina to acquire the assets and hire the employees of Akumina's content management services business. The scrip opened at Rs. 662 and has touched a high and low of Rs. 666.7 and Rs. 652.05 respectively. So far 7,691 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5244.4 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 960.83 on 02-Jan-2015 and a 52 week low of Rs. 577 on 29-Jun-2015. Last one week high and low of the scrip stood at Rs. 684 and Rs. 630.05 respectively.

The promoters holding in the company stood at 38.53 % while Institutions and Non-Institutions held 28.36 % and 33.11 % respectively.

The stock is currently trading above its 200 DMA.

IndiGo owner InterGlobe lists at Rs 868, up 18% from issue

IndiGo's owner InterGlobe Aviation saw a stellar listing on Dalal Street Tuesday. The stock opened at Rs 868 per share on the NSE, up 13 percent from issue price. On an intraday basis, the stock jumped 18 percent. The company which owns the low-budget airline raised Rs 3008.5 crore at the issue price of Rs 765 per share from its IPO. The public issue was priced at Rs 700-765. Though the issue was over-subscribed 6.15 times, retail participation was tepid. The company has raised Rs 832 crore from anchor investors by allotting shares at the upper limit of price band at Rs 765 apiece. Proceeds from fresh issue will be used to retire certain outstanding lease liabilities and consequent acquisition of aircraft Rs 1165.6 crore, purchase of ground support equipment for airline operations. The company proposes to deploy an aggregate amount of Rs 33.4 crore towards purchase of certain ground support equipment for airline operations, such as ramp coaches, tractors, ground power units and push-backs. According to the DGCA, Indigo enjoyed 33. 8 percent market share of domestic passenger volume for fiscal 2015. As of April 2015, it has 96 aircrafts. In April-June quarter, IndiGo posted a net profit of Rs 640.44 crore. During the same period, total revenues stood at Rs 4,317.19 crore. For the year ended March 2015, the carrier recorded a net profit of Rs 1,295.58 crore on revenues of Rs 14,309.14 crore. As of December 31, 2014, it had a total indebtedness of Rs 4,002.8 crore and Rs 2,474.6 crore of net debt (net of free cash of Rs 1528.2 crore) Its net worth fell to a negative Rs 139.39 crore at the end of June 2015. The company has attributed this to payment of interim dividend . Net worth of the company was Rs 426.22 crore as of March 31, 2015 .