HDFC Bank Q4 net profit at Rs.3370 crore; in line with estimates

Q4 NII stood at Rs.7453 crore. HDFC Bank Ltd is currently trading at Rs. 1097, up by Rs. 5.95 or 0.55% from its previous closing of Rs. 1091.05 on the BSE.

HDFC Bank Ltd posted results for the fourth quarter ended 31st March, 2016.

The net profit for the quarter stood at Rs.3370 crore.

Q4 NII stood at Rs.7453 crore.

The Board of Directors of the Company at its meeting held on April 22, 2016, inter alia, have, recommended a dividend of Rs. 9.50/- per equity share of Rs. 2/- each (i.e. 475%) out of the net profits for the year ended March 31, 2016.

HDFC Bank Ltd is currently trading at Rs. 1097, up by Rs. 5.95 or 0.55% from its previous closing of Rs. 1091.05 on the BSE.

The scrip opened at Rs. 1098.75 and has touched a high and low of Rs. 1098.75 and Rs. 1085.65 respectively. So far 723906(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 275837.79 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1127.9 on 21-Jul-2015 and a 52 week low of Rs. 928.8 on 29-Feb-2016. Last one week high and low of the scrip stood at Rs. 1104.9 and Rs. 1072 respectively.

The promoters holding in the company stood at 21.49 % while Institutions and Non-Institutions held 43.5 % and 16.3 % respectively.

The stock is currently trading above its 200 DMA.

Dishman Pharma gains on fixing record date for bonus

The stock was up 4% at Rs 356 after the company fixed May 03, 2016 as the record date for 1:1 bonus shares.

Dishman Pharmaceuticals & Chemicals was trading higher by 4% to Rs 356 on the BSE after the company fixed May 03, 2016 as the record date for entitlement of bonus shares to shareholders in the ratio of 1:1.

“The management committee of board of directors of the company have approved and fixed May 03, 2016 as the record date for the purpose of deciding the members who shall be eligible for allotment of the bonus shares in the proportion of 1 bonus equity share of Rs 2 each, for every 1 fully paid-up Equity share of Rs 2 each,” Dishman Pharma said in a filing.

The stock hit a high of Rs 358 on BSE so far. A combined 491,909 shares changed hands on the counter on the BSE and NSE till 10:04 am

Bharti Infratel to consider dividend or share buyback on April 26

The board will consider the recommendations for distribution of profits of the Company till the financial year ended March 31, 2016, by way of dividend or buy back of a portion of fully paid up equity shares or a combination thereof, in its meeting scheduled to be held on April 26, 2016. 

Bharti Infratel Ltd has now informed BSE that the board will consider the recommendations for distribution of profits of the Company till the financial year ended March 31, 2016, by way of dividend or buy back of a portion of fully paid up equity shares or a combination thereof, in its meeting scheduled to be held on April 26, 2016.

Stock view:
Bharti Infratel Ltd ended at Rs. 373.3, down by Rs. 13.2 or 3.42% from its previous closing of Rs. 386.5 on the BSE.

The scrip opened at Rs. 390 and touched a high and low of Rs. 390 and Rs. 370.9 respectively. A total of 2650071(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 70802.58 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 505 on 29-May-2015 and a 52 week low of Rs. 341.6 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 409.9 and Rs. 370.9 respectively.

The promoters holding in the company stood at 71.7 % while Institutions and Non-Institutions held 26.33 % and 1.88 % respectively.

The stock traded below its 200 DMA. 

Rupee slips by 11 paise against US Dollar

On the US economic front, weekly jobless claims fell to the lowest level since 1973 while an index of factory conditions sank back into contraction in April. 

The Indian rupee slipped for the second consecutive session and opened lower by 11 paise at 66.50/$ ageinst US Dollar on Friday as against the previous close of 66.39/$.

On the US economic front, weekly jobless claims fell to the lowest level since 1973 while an index of factory conditions sank back into contraction in April. Meanwhile, the Conference Board’s leading economic index rose 0.2% to 123.4 following a 0.1% drop in February.

US stock indices slipped on Thursday after rising for the previous three sessions, as investors examined a slew of mixed earnings and crude oil prices softened. Declines in defensive sectors such as Consumer Staples, Telecom and Utilities weighed on the main indexes. The Dow dropped 0.6%, S&P 500 declined 0.5% and Nasdaq closed flat.

On Thursday, the home currency closed lower by 17 paise at 66.39/$. The local unit had hit a high of 66.21 and a low of 66.45. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.29 and for Euro stood at 74.89. The RBI’s reference rate for the Yen stood at 60.48; reference rate for the Great Britain Pound (GBP) stood at 95.1437 . 

Opening Bell - Sensex, Nifty flat

At 9:15 AM, the S&P BSE Sensex is trading at 25,821 down 60 points, while NSE Nifty is trading at 7,891 down 21 points. 

At 9:15 AM, the S&P BSE Sensex is trading at 25,821 down 60 points, while NSE Nifty is trading at 7,891 down 21 points.

The Indian rupee slipped for the second consecutive session, opened lower by 11 paise at 66.50/$ ageinst US Dollar on Friday as against the previous close of 66.39/$. On the US economic front, weekly jobless claims fell to the lowest level since 1973 while an index of factory conditions sank back into contraction in April. Meanwhile, the Conference Board’s leading economic index rose 0
.2% to 123.4 following a 0.1% drop in February. 

US stock indices slipped on Thursday after rising for the previous three sessions, as investors examined a slew of mixed earnings and crude oil prices softened. Declines in defensive sectors such as Consumer Staples, Telecom and Utilities weighed on the main indexes. The Dow dropped 0.6%, S&P 500 declined 0.5% and Nasdaq closed flat. 

RIL Q4 earnings: Net revenues likely to fall; Net profit to rise

IIFL estimates that the Mukesh Ambani-led company’s net revenues are expected to dip to Rs. 54,601 crore, at a rate of 2.6% yoy and 3.5% qoq. 

Reliance Industries Ltd, one of India’s largest business conglomerate, will announce its financial results on April 22 for the fourth quarter ended March 31, 2016.

IIFL estimates that the Mukesh Ambani-led company’s net revenues are expected to dip to Rs. 54,601 crore, at a rate of 2.6% yoy and 3.5% qoq.

As per IIFL’s forecast, the company’s net profit for Q4 FY16 is expected to increase to Rs. 6,831 crore, at a rate of 9.4% yoy; however, the same is likely to fall 5.4% qoq.  

Operating Profit Margin is likely to be at 18.1%, with a yoy rise of 272 bps.

Product spreads have weakened on a sequential basis marginally as fall in petroleum product prices was higher than fall in crude oil prices on back of weakness in demand from China. Gasoline spreads have been the saving grace with a sequential increase. Resultantly, benchmark GRMs have weakened on a qoq basis.

For Reliance Industries, IIFL expects the GRMs to decline from US$11.5/bbl in Q3 FY16 to US$10.5/bbl in Q4 FY16. Petrochemical prices too have seen a correction in line with the crude oil prices but the spreads are expected to remain flattish. Crude oil production from MA‐1 field and gas production from KG‐D6 field are likely to see flat trends during the quarter on a qoq basis.

Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines. 

Cairn India Q4 numbers expected to disappoint

IIFL estimates that the company’s net revenues are expected to plummet to Rs. 1,619 crore, at a rate of 36.9% yoy and 17.1% qoq. 

Cairn India Ltd, a billionaire Anil Agarwal-led company, will announce its financial results on April 22 for the fourth quarter ended March 31, 2016.

IIFL estimates that the company’s net revenues are expected to plummet to Rs. 1,619 crore, at a rate of 36.9% yoy and 17.1% qoq.

As per IIFL’s forecast, the company’s net loss for Q4 FY16 is expected to widen to Rs. 199 crore, at a rate of 17.4% yoy.   

Operating Profit Margin is likely to be at 24%, with a yoy fall of 1,228 bps.

For Cairn India, we see weak set of numbers on yoy basis owing to (1) a flattish production profile at Rajasthan field, (2) fall in crude oil prices and 3) higher profit sharing with the government. For ONGC and Oil India, we expect net realizations to improve. Sales volume for crude oil and gas is likely to remain flat on sequential basis.

Our preview coverage universe of 374 companies, representing ~75% of India’s equity market cap is expected to report 4.2% yoy drop in net profit in Q4 FY16. On a qoq basis, profits will rise by 17% on account of low base of preceding two quarters, which had witnessed sequential PAT declines. 

Results to watch out for! Reliance Industries, HDFC Bank, Cairn India

The results which are expected today are Reliance Industries, HDFC Bank, Cairn India,Sasken Communication Technologies, Zensar Technologies. 

The results which are expected today are Reliance Industries, HDFC Bank, Cairn India,Sasken Communication Technologies, Zensar Technologies, Artson Engineering, Amal, Aunde India Limited, DIC India, Filatex India, International Paper Appm, Mahindra Cie Automotive, Stewarts & Lloyds Of India, Ushdev International, Yash Papers.

Stock view:

Reliance Industries Ltd ended at Rs. 1040.9, up by Rs. 2.6 or 0.25% from its previous closing of Rs. 1038.3 on the BSE. The scrip opened at Rs. 1044.9 and touched a high and low of Rs. 1051.5 and Rs. 1035 respectively. A total of 2833515(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 337290.77 crore.

HDFC Bank Ltd ended at Rs. 1091.05, down by Rs. 5.55 or 0.51% from its previous closing of Rs. 1096.6 on the BSE. The scrip opened at Rs. 1100 and touched a high and low of Rs. 1104.9 and Rs. 1088 respectively. A total of 2106599(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 275837.79 crore.

Top 15 stocks in focus today: Reliance Industries, Hindustan Zinc, Piramal Ent

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

Reliance Industries: RIL will announce its Q4 results today. IIFL estimates that the Mukesh Ambani-led company’s net revenues are expected to dip to Rs. 54,601 crore, at a rate of 2.6% yoy and 3.5% qoq.

Hindustan Zinc: Hindustan Zinc , country's leading zinc producer and part of Vedanta Resources, reported standalone net profit of Rs. 2,149.13 crore for the quarter ended March 31, 2016, registering growth of 7.59% yoy and 18.65% qoq.

DHFL: Dewan Housing Finance Ltd is in talks to acquire Andromeda Sales & Distribution Pvt Ltd - one of the largest distributors of loans, mortgage, financing and financial instruments in India, reports a business daily.

Cairn India: Cairn India will announce its Q4 results today. IIFL estimates that the company’s net revenues are expected to plummet to Rs. 1,619 crore, at a rate of 36.9% yoy and 17.1% qoq.

Piramal Enterprises: Piramal Enterprises has invested Rs. 256 crore in Sanghi Industries, a Kutch-based cement company with production capacity of 4.1 million tonnes a year (mtpa).

IndusInd Bank: The bank reported standalone net profit of Rs. 620.35 crore for the quarter ended March 31, 2016, registering growth of 25.25% yoy and 6.77% qoq.

Srei Infrastructure Finance: The company said that the process of stake sale in Viom Networks Limited to American Tower Corporation (ATC) has been completed.

Tata Steel: The UK government is reportedly planning to acquire a minority stake of as much as 25% in Tata Steel's UK business to support the sale. This move comes on the actions taken by the UK government to salvage thousands of jobs after Tata Steel put its entire UK operations on the block, says report.

Bharti Infratel: The board will consider the recommendations for distribution of profits of the Company till the financial year ended March 31, 2016, by way of dividend or buy back of a portion of fully paid up equity shares or a combination thereof, in its meeting scheduled to be held on April 26, 2016.

NMDC: The government is planning to sell 10% of its stake in iron ore mining company NMDC through an offer for sale, as per media reports.

Satin Creditcare Network Ltd: The  board of directors of the company will be held on April 25, 2016, to consider and approve the issuance of 2,50,00,000 Non-Convertible, Rated, Redeemable, Cumulative, Preference Share (NCRCPS) on a private placement basis to the persons belonging to non-promoter group, along with other items of Agenda.

Glenmark Pharmaceuticals: Glenmark Pharma has received three observations from the US health regulator for its Pithampur, Indore plant.

Shreyas Shipping and Logistics: The has added ninth container vessel to its fleet, thereby embarking on providing weekly seamless connectivity between east and west coast of India.

RPP Infra Projects Ltd: RPP Infra Projects has entered into a consortium agreement with Siemens for submitting a joint bid to Power Grid Company of Bangladesh to install substations.

Anuh Pharma: The pharma company said that the World Health Organisation (WHO) has suspended its products – Pyrazinamide and Sulfadoxine – from prequalified list of active pharmaceutical ingredients (API)

Dishman Pharma: Dishman Pharma has announced that it has received nod for Bonus Share issue.

Supreme Industries: The company has posted a net profit of Rs. 115 crore for the quarter ended March 31, 2016 whereas the same was at Rs. 102.2 crore for the quarter ended March 31, 2015.

Cyient: Cyient net profit dropped 24% to Rs. 66 crore in Q4 FY16 as compared to Rs. 86.84 crore in Q3. The company registered a total income of Rs.815.8 crore as against Rs.781.8 crore qoq. Cyient had a one-time loss of Rs.8.7 crore.

Jet Airways: Jet Airways is planning to hire 400 pilots in the next 18 months, according to reports. 

Sensex, Nifty to open on a flat note

The indices may be stuck in a narrow range for the day. Fridays have usually seen a better close but that need not be the case today. Reliance Industries and HDFC Bank will announce their results today. The rupee could weaken on likely dollar demand for importers. 

India will become $10 trillion economy and achieve growth rate of 10 per cent by 2032, Niti Aayog Chief Executive Officer Amitabh Kant reportedly said. This comes close on the heels of the RBI governor calling for implementing reforms for sustained growth in the economy. The Indian market has seen a terrific rise in the last eight weeks and bulls now appear to be in relaxed mode. The ensuing consolidation could test the patience of traders and investors as several overhead resistances come into play, which could make the ride ahead a bit bumpy from here on.  The Nifty is yet to close above the high of January 2016 (7973). On Thursday, it flirted above those levels only to pare all gains to end at 7912.

The outlook is a flat start. The indices may be stuck in a narrow range for the day. Fridays have usually seen a better close but that need not be the case today. Reliance Industries and HDFC Bank will announce their results today. The rupee could weaken on likely dollar demand for importers.

US stock indices slipped on Thursday after rising for the previous three sessions, as investors examined a slew of mixed earnings and crude oil prices softened. Declines in defensive sectors such as Consumer Staples, Telecom and Utilities weighed on the main indexes. The Dow dropped 0.6%, S&P 500 declined 0.5% and Nasdaq closed flat.

On the US economic front, weekly jobless claims fell to the lowest level since 1973 while an index of factory conditions sank back into contraction in April. Meanwhile, the Conference Board’s leading economic index rose 0.2% to 123.4 following a 0.1% drop in February.

Across the Atlantic, the European Central Bank (ECB) left its key interest rates unchanged.
ECB President Mario Draghi said that broad financing conditions in the euro area have improved but that global uncertainties persist, and urged countries to strive for more “growth friendly” policies. Low interest rates are a “symptom of low growth and low inflation, it’s not the monetary policy consequence,” Draghi said.  “If we want to return to higher interest rates, higher growth and inflation is required. Getting back to growth requires the current monetary policy stance,” said.

India will become $10 trillion economy and achieve growth rate of 10 per cent by 2032, Niti Aayog Chief Executive Officer Amitabh Kant reportedly said.

Moody's Investors Service says that the credit quality of many Chinese property developers rated by Moody's will stay weak in 2016, based on their financial results for the fiscal year ended 31 December 2015.