It seems that the prophets of doom have taken a break as Nifty has made a sharp comeback in last two weeks. The run up has been fast and furious and a lot of shorts are being forced to run for cover. Recovery in oil prices has provided the much needed relief for global equity markets.Back home, market participants have somehow managed to ignore weakening Indian currency, not so pleasing quarterly earnings season by India Inc. and have marched ahead conquering the 7500 mark.

Next week’s tone will be set by outcome of RBI meet. It is unlikely that RBI will cut rate in the next policy since inflation has moved broad in-line with its trajectory. Had inflation undershot then there would have been a case to consider a rate cut. However, come April as the banking system moves to marginal cost of funds based lending rate determination, interest rate in general will start coming down and pending transmission of policy rate reduction will get complete. The market has to contend with the fact that some pressure could be witnessed given the precarious situation; both national and international. It would be prudent to apply some caution and use recent gains to reshuffle portfolio.

For the week, BSE Sensex closed at 24,871 (up 1.8%) and NSE Nifty at 7,564 (up 1.9%)

Sensex Top Gainers: The top gainers in Sensex were Sun Pharmaceutical (up 10.5%), Dr Reddy’s Laboratories (up 7.6%), Coal India (up 6.7%), Hindustan Unilever (up 5.7%), Oil & Natural Gas Corp (up 4.5%)

Sensex Top Losers: The top losers in Sensex were Bharat Heavy Electricals (down 5.7%), Adani Ports & Special Economic (down 4.1%), Axis Bank (down 3.8%), Larsen & Toubro (down 3.5%), Bharti Airtel (down 3.1%)

Nifty Top Gainers: The top gainers in Nifty were Power Grid Corp of India (up 11.1%), Vedanta (up 10.9%), Sun Pharmaceutical Industries (up 10.6%), Yes Bank (up 9.2%), Cairn India (up 8.2%)

Nifty Top Losers: The top losers in Nifty were Bharat Heavy Electricals (down 5.9%), Adani Ports & Special Economic(down 4.3%), Axis Bank (down 3.7%), Bank of Baroda(down 3.7%), Larsen & Toubro (down 3.6%)

BSE Mid Cap Top Gainers: The top gainers in Mid Cap Index were Shriram Transport Finance Co L(up 12%), Piramal Enterprises (up 9.5%), UPL (up 9.5%), Yes Bank (up 9.3%), Torrent Power (up 8.5%)

BSE Mid Cap Top Losers: The top losers in Mid Cap Index were Reliance Communications (down 6.8%), Exide Industries (down 3.6%), Colgate-Palmolive India (down 3%), Blue Dart Express (down 3%), Jindal Steel & Power (down 2.6%)

BSE Bank Index Top Gainers: The top gainers in Bank Index were Yes Bank (up 9.3%), IndusInd Bank (up 3.2%), HDFC Bank (up 1.8%).

BSE Bank Index Top Losers: The top losers in Bank Index were Federal Bank (down 5%), Axis Bank (down 3.8%), Bank of Baroda(down 3.4%), State Bank of India(down 2.4%), Punjab National Bank(down 1.5%)

BSE Healthcare Top Gainers: The top gainers in Healthcare Index were Elder Pharmaceuticals (up 21.2%), Morepen Laboratories (up 17.9%), Sun Pharma Advanced Research (up 13.5%), Bliss Gvs Pharma (up 11.7%), Nectar Lifesciences (up 11.4%)

BSE Healthcare Index Top Losers: The top losers in Healthcare Index were Syncom Formulations (down 7.5%), Alembic (down 4.3%), Hester Biosciences (down 3.9%), Claris Lifesciences (down 3.6%), Poly Medicure (down 3%)

BSE Auto Top Gainers: The top gainers in Auto Index were Apollo Tyres (up 4.8%), Ashok Leyland (up 4.3%), Bharat Forge (up 4.2%), Mahindra & Mahindra (up 3.5%), Motherson Sumi Systems (up 3.3%)

BSE Auto Index Top Losers: The top losers in Auto Index were MRF (down 1.8%), Hero MotoCorp (down 0.9%), Tata Motors (down 0.8%), Maruti Suzuki India (down 0.2%).

BSE Oil & Gas Top Gainers: The top gainers in Oil & Gas Index were Cairn India (up 8.2%), Oil & Natural Gas Corp (up 4.5%), Reliance Industries (up 3.1%), Oil India (up 2.8%), Hindustan Petroleum Corp (up 2.2%)

BSE Oil & Gas Index Top Losers: The top losers in Oil & Gas Index were Petronet LNG (down 2.5%), Indian Oil Corp (down 1.3%), GAIL India (down 0.1%)

BSE Metals Index Top Gainers: The top gainers in Metals Index were Vedanta (up 10.7%), Hindustan Zinc (up 10.5%), Coal India (up 6.7%), Tata Steel (up 1.2%), NMDC (up 0.6%)

BSE Metals Index Top Losers: The top losers in Metals Index were Jindal Steel & Power (down 2.6%), Hindalco Industries (down 2.5%), Steel Authority of India (down 0.8%), JSW Steel (down 0.7%)

BSE IT Index Top Gainers: The top gainers in IT Index were Tanla Solutions (up 26.4%), Kellton Tech Solutions (up 20%), Tata Elxsi (up 18.4%), NIIT Technologies (up 14.9%), Persistent Systems (up 12.5%)

BSE IT Index Top Losers: The top losers in IT Index were RS Software India (down 36.5%), Sasken Communication (down 5.7%), Nucleus Software Exports (down 5%), TAKE Solutions (down 4.7%), Cigniti Technologies (down 4.6%)

Yes Bank reported standalone net profit of Rs. 675.74 crore for the quarter ended December 31, 2015, registering growth of 25.06% yoy and 10.70% qoq. The bank’s Net Interest Income (NII) stood at Rs. 1157 crore, clocking growth of 27.27% yoy and 4.37% qoq. Gross non-performing assets (NPA) for the quarter stood at 0.66%, up 24 bps yoy and 5 bps qoq. Provisions stood at Rs. 147.94 crore, were up 111.76% yoy and 42.33% qoq.

Maruti Suzuki reported standalone net profit of Rs. 1,019.30 crore for the quarter ended December 31, 2015, registering growth of 27.07% yoy but decline of 16.83% qoq. The company’s revenue stood at Rs. 15,081.90 crore, clocking growth of 19.67% yoy and 8.24% qoq. Its standalone core operating profit of Rs. 2,170.10 crore for the quarter, clocked growth of 34.01% yoy but decline of 4.37% qoq. Operating profit margin for the current quarter at 14.39% expanded by 154 bps yoy but contracted by 190 bps qoq.

TVS Motor Company reported standalone net profit of Rs.107.70 crore for the quarter ended Q3FY16, registering growth of 19.43% yoy, but decline of 7.48% qoq. The company’s revenue stood at Rs. 2,939.62 crore, up 11.38% yoy and 2.04% qoq. Its standalone core operating profit of Rs. 208.56 crore for the quarter, clocked growth of 30.19% yoy but decline of 1.59% qoq. Operating profit margin for the current quarter at 7.09% expanded 102 bps yoy but contracted 27 bps qoq.

Glenmark pharmaceuticals missed estimates. It reported consolidated net profit of Rs. 170.22 crore for the quarter ended December 31, 2015, registering growth of 48.40% yoy but decline of 13.89% qoq. Company’s revenue stood at Rs. 1,778.2 crore, witnessing growth of 4.52% yoy but decline of 6.86% qoq. It’s core operating profit at Rs. 369.6 crore, recorded growth of 39.15% yoy, but declined by 7.99% qoq. Operating margin at 20.78%, expanded by 517 bps yoy but contracted by 25 bps qoq.

Titan Company reported standalone net profit of Rs. 225.29 crore for the quarter, registering growth of 18.12% yoy and 54.96% qoq. The company’s revenue stood at Rs. 3,426.16 crore, increasing by 17.23% yoy and 28.15% qoq. Its standalone core operating profit of Rs. 309.93 crore for the quarter, clocked growth of 12.37% yoy and 52.86% qoq. Operating profit margin for the current quarter at 9.05% contracted by 39 bps yoy but expanded by 147 bps qoq.

Bharti Airtel results were in line with estimates. It reported consolidated net profit of Rs. 1,116.90 crore for the quarter, registering decline of 22.25% yoy and 26.65% qoq. The company’s revenue stood at Rs. 24,103.40 crore,clocking growth 3.77% yoy and 1.05% qoq. Its consolidated core operating profit of Rs. 8,451.20 crore for the quarter, clocked growth of 8.55% yoy and 2.44% qoq. Operating profit margin for the current quarter at 35.06% expanded by 154 bps yoy and 47 bps qoq.

ICICI Bank reported standalone net profit of Rs. 3,018.13 crore for the quarter ended December 31, 2015, registering growth of 4.46% yoy but marginal decline of 0.39% qoq. The bank’s Net Interest Income (NII) stood at Rs. 5,452.96 crore, clocking growth of 13.32% yoy and 3.83% qoq. Gross non-performing assets (NPA) for the quarter stood at 4.72%, grew by 132 bps yoy and 95 bps qoq. Provisions stood at Rs. 2,844.05 crore, jumping over two-folds yoy and three-folds qoq.

Emami results were in line with estimates. It reported consolidated net profit of Rs. 134.12 crore for the quarter ended December 31, 2015, registering decline of 26.99% yoy but growth of 118.65% qoq. The company’s revenue stood at Rs. 788.53 crore, clocking growth of 13.91% yoy and 37.23% qoq. Its consolidated core operating profit of Rs. 249.50 crore for the quarter, clocked growth of 17.95% yoy and 63.82% qoq. Operating profit margin for the current quarter at 31.64% expanded by 108 bps yoy and 514 bps qoq.

Vedanta reported consolidated net profit of Rs. 17.91 crore for the quarter, registering decline of 98.87% yoy and 98.16% qoq. The company’s consolidated revenue stood at Rs. 14,876.55 crore, declining by 22.59% yoy and 10.17% qoq. Its consolidated core operating profit of Rs. 3,105.73 crore for the quarter, declined by 49.47% yoy and 22.35% qoq. Operating profit margin for the current quarter at 20.88% contracted by 1110 bps yoy and 327 bps qoq.

Dabur India missed estimates. It reported consolidated net profit of Rs. 318.54 crore for the quarter ended December 31, 2015, registering growth of 12.65% yoy but decline of 6.62% qoq. The company’s consolidated revenue stood at Rs. 2,127 crore, clocking growth of 2.31% yoy and 1.47% qoq. Its consolidated core operating profit of Rs. 378.19 crore for the quarter, witnessed growth of 7.48% yoy but decline of 6.5% qoq. Operating profit margin for the current quarter at 17.78% expanded by 85 bps yoy but contracted by 152 bps qoq.
Just Dial missed estimates. It reported standalone net profit of Rs. 26.99 crore for the quarter ended December 31,2015, registering decline of 16.02% yoy and 41.70% qoq. The Company’s revenue stood at Rs.171.33 crore, registering growth of 10.95% yoy and 0.04% qoq respectively. It’s core operating profit narrowed to Rs.37.40 crore, registering decline of 25.36% yoy and 5.84% qoq. Operating margin at 21.82% contracted by 136 bps and 1062 bps on qoq and yoy basis respectively.

United Spirits reported standalone net profit of Rs. 40.95 crore for the quarter, registering decline of 45.2% yoy and 95.59% qoq. The company’s revenue stood at Rs. 2,650.58 crore, expanded 21.74% yoy and 23.54% qoq. Its standalone core operating profit of Rs. 269.21 crore for the quarter, clocked growth of 15.53% yoy but decline of 15.26% qoq. Operating profit margin for the current quarter at 10.16% contracted by 54 bps yoy and 465 bps qoq.

HDFC reported standalone net profit of Rs. 1,520.51 crore for the quarter ended December 31, 2015, registering growth of 6.66% yoy but decline of 5.23% qoq. The company’s Net Interest Income (NII) stood at Rs. 2,390 crore, clocking growth of 10.10% yoy but decline of 4.43% qoq.

Power Grid beat estimates. It reported standalone net profit of Rs. 1613.12 crore, registering growth of 31.26% yoy and 11.4% qoq. The company’s revenue stood at Rs. 5406.58 crore, witnessing growth of 24.19% yoy and 9.93% qoq. It’s core operating profit of Rs. 4795.6 crore increased by 28.22% yoy and 11.05% qoq. Operating margin at 88.7% expanded by 279 bps yoy and 89 bps qoq.

Poor show by Colgate-Palmolive. It reported standalone net profit of Rs. 159.41 crore for the quarter ended December 31,2015, registering growth of 21.81% yoy and 1.58% qoq. The company’s revenue stood at Rs. 1,014.85 crore, witnessing marginal growth of 1.89% yoy but decline of 2.27% qoq. It’s core operating profit at Rs. 231.41 crore, up by 18.91% yoy but down by 9.21% qoq. Operating margin at 22.80% expanded 326 bps yoy but contracted 174 bps qoq.

Source :indiainfoline.com

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