Daily Archives: Monday November 5th, 2018

Market closes with declines

stock market news

 

On the occasion of Dhanteras in the Mumbai-market, there was a lot of excitement. The Nifty dived to 10,477 while the Sensex was broken up to 34,811.6. However, the BSE 30-share index Sensex fell 61 points, or 0.2 percent, to close at 35,951. On the other hand, NSE’s 50-share index Nifty closed at 295, i.e. 0.25 percent, at 10,524 level.

There is also pressure in mid-caps and smallcap stocks. BSE’s mid-cap index has fallen 0.5 percent, while the mid-cap index of the Nifty has come down by 0.5 percent. BSE’s smallcap index closed down 0.3 percent.

Pharma, private banks, media, FMCG, auto, capital goods, there has been selling consumer Dyurebls, Power and Oil & Gas shares. Bank Nifty closed at 25,748 level with an increase of 0.2 percent. Today, purchases are seen in PSU banks, realty and IT shares.

Cipla, IOC, Indiabulls Housing, IndusInd Bank, BPCL, NTPC, Power Grid, ONGC and Hero Moto have been closed down by 7.3-1.5 per cent in the giants. However, SBI, Axis Bank, UPL, Wipro, HCL Tech, Reliance Industries and Bajaj Auto climbed 3.4-1 per cent in the giants.

Sun TVs, Adani Enterprises, GSK Pharma, SAIL and Reliance Infra have been down 6.9-4.2 per cent in mid-cap stocks. However, NBCC, Ramco Cement, Union Bank, JSW Energy and Torrent Power in mid-cap stocks have climbed 6.2-3.5 per cent. Small distilleries, Venkies, Indian International, Kaya and Kirloskar Brothers in smallcap stocks have been broken down to 16.3-8.2 per cent.

Nirmal Bang’s Diwali shares get better returns

nifty plus

 

Mumbai- A list of Diwali stocks has been prepared by Nirmal Bang. The foremost brokerage has expressed the hope that it will get better returns in the stocks which have been advised to put a stake in this.

The brokerage house has advised the purchase of Britannia Industries at a target of Rs 7,120, which is likely to increase by 26% from present value. While City Union Bank has advised to buy it at a target of Rs 235 with a return of 39% in its share price. It has suggested buying shares of Eicher Motors at a price of Rs 36,529 in the bigger shares and expressed the returns of 61 per cent in this.

It has been advised to buy Kajaria Ceramics stock at the target of Rs 492 and it has expressed the possibility of getting 20 per cent returns. Similarly, Whirlpool India is expecting a return of 39% in the stock and it has been advised to buy it at the target of Rs 1,900. Thomas Cook’s shares have been advised to buy on the target of 300 rupees and it is expected to return 41 percent.

Similarly, it has advised the stock of Sanofi India to buy on the target of Rs 7,570 and it is expected to grow by 29%. Phoenix Mill has expressed the possibility of 38 percent increase in the stock and it has been advised to buy it at the target of Rs 791. It has recommended buying PVR at the target of Rs 1,785 and it is expected to grow by 28%.

SBI net profits of 945 crores

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Mumbai: The country’s largest lender, State Bank of India (SBI) has a net profit of Rs 945 crore during the second quarter (July-September) of the current financial year.

During the second quarter, the growth of the bank’s borrowings has been 11.11 percent on an annual basis, while the slipage is declining 159 bps. Operating profit, however, declined by 30.47 percent to Rs 13,905 crore from Rs 19,999 crore. Net interest income has increased by 12.48 per cent to Rs 20,906 crore.

Bank chairman Rajneesh Kumar said on the occasion of the result that interest income on the bank’s borrowings has increased by 7.05 percent and it has reached Rs 38,326 crore. Interest expenditure on deposits has increased by 2.81 per cent and it has reached Rs 34,934 crore. Talking of the half year, the bank has a net loss of Rs 3,931 crore during this period. This loss was originally due to low business income and mark to market loss.

During this period, the total deposits of the bank have gone up by 7.02 per cent and it has increased to Rs 28,07,420 crore. The amount of domestic savings account has increased by 8.55 percent and it has gone up to Rs 10,52,728 crore. The current account deposits have been rising by 6.05 per cent and it has reached Rs 1,74,076 crore. The credit deposit amount is 8.19% and the ratio is 45.27%.

The total lending of the bank has increased by 11.11% to Rs 17,78,321 crore, in which the share of retail has increased by 8.91% to Rs 10,33,022 crore. SMEs accounted for 5.24% in borrowings and 14.23% in retail personal loans and 14.30% in corporate borrowing yearly. Meanwhile, the gross NPA of the bank declined by Rs 2,12,840 crore to Rs 2,05,864 crore, which is 9.95 per cent. Net NPA has decreased by 45 bps to 4.84 percent.

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