Ultratech Cement Q2 PAT at Rs. 426 crore

The company’s sales stands at Rs. 5,951 crore for the quarter under review from Rs. 5,270 crore for the corresponding quarter of the previous year.

Ultratech Cement, India's biggest cement company and India’s largest exporter of cement clinker, has announced the following unaudited standalone results for the quarter ended September 30, 2015.

The company reported its Q2 net profit at Rs.426 crore for the quarter ended September 30, 2015 as compared to Rs 414 crore for the same quarter in the previous year. The company’s sales stands at Rs. 5,951 crore for the quarter under review from Rs. 5,270 crore for the corresponding quarter of the previous year.

SBI Composite Index for October ​shows moderate growth

The yearly SBI Composite Index for Oct’15 is at 53.6 (Moderate Growth), compared to last month index of 53.9 (Moderate Growth). However, the Monthly Index increase to 50.8 (Low Decline) in Oct’15, from 48.4 (Low Decline) in Sep’15.

In continuation of the launch of the SBI Composite Index on December 9, 2014, State Bank of India herewith releases yearly as well as monthly Composite Index value for the month of October 2015.
​​
The yearly SBI Composite Index for Oct’15 is at 53.6 (Moderate Growth), compared to last month index of 53.9 (Moderate Growth). However, the Monthly Index increase to 50.8 (Low Decline) in Oct’15, from 48.4 (Low Decline) in Sep’15. The upturn has been majorly driven by manufacturing, while mining and electricity are still acting as a drag on economic activity. Besides, the positive trends in capital goods sector suggest the possible pick-up in economic momentum. IIP is also driven majorly by manufacturing (particularly capital goods) as revealed by higher ex-mining and ex-electricity growth.

The m-o-m growth in ASCB credit was at 12-month high as of fortnight ended 02 Oct’15 and our internal prognosis suggests that sectors like power, steel, green energy, hydrocarbon and telecom will see a strong credit demand in the coming quarters. We also expect a smart growth in in personal loan segment especially in housing (due to rationalization of risk weights and LTV ratios) and in vehicle loan (due to festive season). The rationalization of risk weights and LTV ratios will equip banks with more capital, and our internal estimate (albeit based on certain assumptions) suggests that RBI move would release capital worth Rs 7,785 crore for entire banking industry. As our SBI index predicts the industrial growth in 2-month advance, our index numbers suggest around 7% growth in IIP for either the month of Sep’15 or Oct’15, or possibly both.

Further Centre has decided to extend the disbursement of the recently announced Rs 6000 crore soft loan to sugar sector October 16. Overall, “Minimum government, maximum governance” can yield some improvement by about minimum of 4% of net sales or so for sugar sector.

The Index captures two components of the manufacturing cycle namely month-on-month and year-on-year growth on a scale of 0 to 100. Index above 50 implies growth over previous respective period and less than 50 will suggest a contraction over respective period. 

Infosys to acquire Noah Consulting for US$70mn

The board has Considered and approved to acquire 100 percent stake in Noah Consulting LLC, head quartered in Houston, Texas (USA), a leading provider advanced information management consulting services for the oil and gas industry.

Infosys announced a definitive agreement to acquire Noah Consulting, LLC, a leading provider of advanced information management consulting services for the oil and gas industry. This acquisition was an all-cash deal, with an aggregate purchase consideration of US$70 million.

Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets. Noah's deep domain expertise in upstream oil and gas, coupled with their tools, solution accelerators and proprietary methodologies, makes them a leader in driving strategic data management engagements. This acquisition combines Noah’s deep industry knowledge, information strategy planning, data governance and architecture capabilities with Infosys’ ability to provide technology and outsourcing services on a global scale to oil and gas clients.

Commenting on the acquisition, Rajesh Murthy, EVP and Global Head of Energy, Communications and Services, Infosys said, “The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment. This requires a well-defined and executed information and data management strategy that will allow companies to increase efficiencies across the lifecycle – from exploration to production. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally.”

“Our oil and gas clients are adjusting to a new normal of lower oil prices. There is an urgency to improve the efficiency and effectiveness of their operations in a safe and reliable manner. This acquisition is part of Infosys’ strategy to bring next generation data analytics solutions to the oil and gas industry” said Sanjay Purohit, EVP and Global Head of Infosys Consulting.

John Ruddy, President of Noah Consulting said, “We are excited about the new capabilities that the combination of Noah and Infosys will bring to our clients. Together, we can effect transformational change for our oil and gas clients by using information management to integrate supply chain, safety, environmental and financial data with geoscience, engineering and other operational and technical data – an industry challenge that has never been addressed effectively. We look forward to making a difference together.”

Reliance Industries Shares Jump 5% on Record Q2 Profit

Reliance Industries shares jumped nearly 5 per cent on Monday after the oil-to-retail conglomerate posted record quarterly profit on the back of strong refining margins. RIL was the top Nifty gainer in morning trade.

Controlled by billionaire Mukesh Ambani, Reliance Industries on Friday reported a 12.5 per cent jump in consolidated net profit to Rs 6,720 crore, even though plunging crude prices dragged revenue down by more than a third to Rs 75,117 crore.

Higher profits came largely from gross refining margins, which rose to $10.60 per barrel, the highest in seven years and up from $8.30 in the same quarter a year earlier.

RIL generates the bulk of its revenue from refining and petrochemicals, but it has been expanding into consumer businesses such as retail and telecom to aid growth. The company confirmed plans to launch its keenly awaited 4G telecommunication service by "around December".

Reliance Industries has spent more than $14 billion to date on telecom alone, and is spreading into fashion, grocery and online banking. Its telecom arm is building India's biggest fourth-generation (4G) broadband network and plans a December launch for its Jio brand.

The company's retail business achieved a milestone of Rs 5,000 crore quarterly turnover mark for the first time. RIL said its retail division will also sell its own brand of 4G LTE smartphones under the brand name LYF, pronounced "life".

Most brokers raised their earnings per share estimate after RIL's solid Q2. CLSA upped its FY16-17 EPS estimate by 3-6 per cent, while Kotak increased RIL's EPS by 3-8 per cent.

As of 09.39 a.m., RIL shares traded 4.2 per cent higher at Rs 959.50, outperforming the 0.24 per cent gain in the broader Sensex.

Sugar prices rise 25% in two months

The International Sugar Organization (ISO) has predicted that the global sugar market will slip into a deficit after enjoying a surplus for several years.

After falling by more than 20% during January-July 2015, sugar prices have reportedly risen by ~25% over the past two months.

Erratic monsoon in the major sugarcane producing states in Uttar Pradesh, Karnataka and Maharashtra, and pick-up in festival demand have sent sugar prices higher of late, reports a business daily.

Sugar prices at the National Commodities & Derivatives Exchange jumped to Rs. 2,699 per quintal on October 7 from Rs. 2,164.15 per quintal on July 31.

Sugar price was trading at Rs. 2,718.35 per quintal on commodity bourses on January 1.

According to experts, sugar price may rise further to Rs. 3,000 per quintal by the end of March 2016.

In its first advance estimate for sugar season 2015-16, the Indian Sugar Mills Association (ISMA) has estimated production of 270 lakh tonnes, which is lower by 10 lakh tonnes compared to the preliminary estimates of July.

The International Sugar Organization (ISO) has predicted that the global sugar market will slip into a deficit after enjoying a surplus for several years.

ISO has projected a deficit of ~2.5 million tonnes in 2015-16 and forecast more than double deficit of 6.2 million tonnes in 2016-17.

RIL stock surges 4% on Q2 earnings

The Group has posted a net profit after tax, minority interest and share of profit of associates of Rs. 67200 million for the quarter ended September 30, 2015 as compared to Rs. 59720 mn for the quarter ended September 30, 2014.

Shares of Reliance Industries Ltd were trading higher by 4% at Rs. 953, after the company posted Q2 results on Friday.

The Group has posted a net profit after tax, minority interest and share of profit of associates of Rs. 67200 million for the quarter ended September 30, 2015 as compared to Rs. 59720 mn for the quarter ended September 30, 2014. 

Total Income has decreased from Rs. 1118060 mn for the quarter ended September 30, 2014 to Rs. 724970 million for the quarter ended September 30, 2015.

The scrip opened at Rs. 941.6 and has touched a high and low of Rs. 959 and Rs. 941.6 respectively. So far 198978(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 295445.96 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1067 on 23-Jul-2015 and a 52 week low of Rs. 796.75 on 30-Mar-2015. Last one week high and low of the scrip stood at Rs. 914.7 and Rs. 883 respectively.

The promoters holding in the company stood at 45.21 % while Institutions and Non-Institutions held 31.77 % and 19.85 % respectively.

The stock is currently trading below its 200 DMA.

China’s Q3 GDP grows by 6.9%

China's economy grew 6.9% yoy in the third quarter, compared with 7% in the previous three months.

China's economy grew 6.9% yoy in the third quarter, compared with 7% in the previous three months. Expectations were it would grow by 6.8% in July-September period.

12 Stocks in focus today

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

HCL Tech: The IT Company has announced net profit for the quarter stood at Rs.1,726 crore vs Rs.1,783 cr QoQ.

RIL: Reliance Industries Ltd has  posted a net profit after tax, minority interest and share of profit of associates of Rs. 67,200 million for the quarter ended September 30, 2015 as compared to Rs. 59,720 mn for the quarter ended September 30, 2014.

Vedanta: The company has signed an early agreement to invest Rs.84 billion to expand and develop its mineral and mining base in Rajasthan.

South Indian Bank: The bank reported 22.4% rise in its net profit of Rs. 93.4 crore for the quarter ended September 30, 2015 as compared to Rs. 76.3 crore for the same quarter in the previous year.

CRISIL Ltd: The company has posted a net profit of Rs. 768.70 million for the quarter ended September 30, 2015 as compared to Rs. 711.10 mn for the quarter ended September 30, 2014.

DLF: The company is planning to develop 4 million sq. ft of office space in Chennai.The company will expand its DLF IT Special Economic Zone (SEZ) in Manapakkam, while in the second project, it will build a SEZ for IT and ITeS at Taramani.

M&M: Mahindra & Mahindra is planning to enter the premium motorcycle segment overseas, including Latin America, South East Asia and North Africa with its recently launched 300cc bike “Mojo”

Unichem Lab: The pharma company reported net profit for the quarter stands at Rs 23.1 crore. Revenues from Domestic Formulations stood at Rs. 188.5 crs as against Rs. 166.6 crs in the same period last year showing a growth of 13.1%.

Tata Sponge Iron Ltd: The company reported   net profit for the second quarter ended September 30 has nosedived by a whopping 75% to Rs. 5.69 cr as against net profit of Rs. 22.53 cr reported in the corresponding period a year ago.

Nestle India: The vastly popular Maggi noodles will be back on the store shelves within the next two months after Nestle India announced that all samples of the instant snack have cleared tests conducted by three laboratories.

National Buildings Construction Corporation Ltd : The company has informed BSE that Acharya N. G. Ranga Agricultural University (ANGRAU), Hyderabad has entrusted the project of civil works at different colleges of ANGRAU in the state of Telangana to NBCC for estimated amount of Rs. 126.33cr (approx).

Maruti Suzuki India: The company is planning to introduce features like airbags and anti-lock braking system as an option in its mass market models, much ahead of Government regulations coming into force in 2017.
Bajaj Electricals: The company has launched a new range of light emitting diodes (LED) luminaries called under the brand “.nxt”. It will provide this range of LED lights under this brand for IT/ITES, modern work spaces, pharmaceuticals and retail.

Hindustan Copper Ltd: The company will commence its Rs. 2.1 billion Surda mine expansion project work after the dispute between the lead contractor and the sub-contractor was resolved.

Unichem Q2 Net Edges Up 3.5% to Rs 23 Cr

New Delhi: Drug firm Unichem Laboratories today reported a 3.49 per cent rise in its standalone net profit at Rs 23.09 crore for the September quarter.

The company had posted a net profit of Rs 22.31 crore in the same period of the previous fiscal, Unichem Laboratories said in a filing to BSE.

Stand-alone total income from operations of the company also rose to Rs 305.55 crore for the quarter under review as against Rs 278.15 crore a year ago.

Unichem Laboratories manufactures a range of formulations and active pharmaceutical ingredients (APIs).

HCL Tech September Quarter Profit Meets Estimates

Mumbai: HCL Technologies Ltd, India's fourth largest software services exporter by revenue, reported a 8 per cent fall in quarterly net profit on Monday, but met Street estimates as its core manufacturing clients added more projects.

Revenue in dollar terms rose 8 per cent to $1.54 billion. In September, HCL Tech said its revenue in US dollars would have adverse impact of 80 bps on a sharp depreciation of multiple currencies against the dollar.

HCL is part of a $150-billion Indian outsourcing sector that generates the bigger part of its sales by providing services like IT network installation and development of software applications to Western clients.

Consolidated net income for HCL Technologies under US accounting standards rose to Rs 1,726 crore in the quarter ended September 30, down 8 per cent from a year earlier.

Analysts on average expected the company to report a net profit of Rs 1,723 crore, according to Thomson Reuters data.