IDFC Bank's Q4 net profit up 7%

IDFC Bank on Tuesday reported a rise of seven per cent in its net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 176 crore from Rs 165.1 crore reported in the fourth quarter of 2015-16.

The operating income of the bank rose by just one per cent to Rs 558.4 crore during the January-March quarter of 2016-17 from Rs 554.5 earned

Wipro growth forecast hit by healthcare, weak retail

MUMBAI/BENGALURU - Wipro Ltd, India's third-biggest software services exporter, said cancellations of healthcare projects and weak retail spending in its key U.S. market would hit revenue growth.

Headquartered in the technology hub of Bengaluru, Wipro said on Tuesday that its consolidated net profit grew 0.4 percent to 22.67 billion rupees ($353 million) in its fi

Welspun India Q4 cons PAT dips 21.5% at Rs 153.80 cr

Textile firm Welspun India on Tuesday reported a 21.5 per cent decline in its consolidated net profit after taxes (PAT) at Rs 153.80 crore during the three months ended March 31, 2017. “The Mumbai-based company had posted consolidated PAT of Rs 195.90 crore in the corresponding period of previous fiscal, said Welspun India in a filing to Bombay Stock Exchange. The consolidated total reven

Can Fin Homes Q4 net jumps 49% at Rs 70.87 cr

Can Fin Homes, engaged in the business of housing finance, on Tuesday reported a 49.35 per cent growth in its standalone net profit at Rs 70.87 crore during the three months ended March 31, 2017. “The Canara Bank promoted company had posted standalone net profit of Rs 47.45 crore in the corresponding period of previous fiscal, said Can Fin Homes in a filing to Bombay Stock Exchange. The t

Wipro posts small rise in quarterly profit; outlook muted

MUMBAI - India's No.3 software services firm Wipro Ltd reported a small rise in quarterly profit on Tuesday, driven by revenue growth from financial solutions and healthcare customers.

The company however, said it expects quarterly revenue, on a sequential basis, to fall or stay flat in the ongoing quarter.

The muted growth outlook comes as Indian softwa

Rallis India falls 6% on weak Q4

Shares of Rallis India tumbled 6 per cent on the Bombay Stock Exchange after the company reported a 10 per cent dip in its consolidated net profit at Rs 31 crore for the quarter ended March 2017 (Q4FY17), compared to Rs 34.5 crore in year ago quarter.

Weighed down by disappointing Q4, shares of the company declined as much as 6.04 per cent to hit intra-day low of Rs 235.50 apiece on t

Rallis India's consolidated Q4 net profit down 8.8%

Agro-chemicals major Rallis India on Monday reported a decline of 8.82 per cent in its consolidated net profit for the fourth quarter of 2016-17.

The Tata Group company's net profit declined to Rs 3l crore from Rs 34 crore reported for the corresponding quarter of 2015-16.

The company's total comprehensive income dropped by 8.57 per cent to Rs 32 crore from

ACC jumps over 6% as Q1 beats estimates

Shares of ACC rallied over 6 per cent on the Bombay Stock Exchange after the company reported a fall of 8.9 per cent in its consolidated net profit after taxes (PAT) at Rs 211.06 crore for the first quarter ended March 31, 2017, albeit, beating analysts estimates of Rs 162 crore, helped by higher sales volume. Following Q1, shares of the cement maker gained as much as 6.32 per cent to hit intra

RIL spurts 1.5% ahead of Q4

Shares of Reliance Industries rose over 1 per cent in early trade on the Bombay Stock Exchange ahead of the fourth quarter earnings report to be announced later in the day. According to Economic Times, the country’s largest private sector enterprise is likely to report over 5 per cent year-on-year growth in net profit for the quarter ended March 31, 2017.

Ahead of Q4, shares of

China policymakers bullish on economy, cite strong Q1 GDP, stable yuan

SHANGHAI  - Policymakers in China are pushing a bullish message on the world's second-biggest economy after a solid first quarter, pointing to a slow down in capital outflows and a stable yuan after a selloff last year stoked fears of instability.

Speaking at a G20 summit meeting of the world's top economies in Washington last week, finance minister Xiao

Neutral On Tata Consultancy Services Ltd For Target Rs.2,400.00 - Motilal Oswal

Margin aspirations face a stern test

 Mirrors opportunities and concerns similar to INFO: Retail and BFSI dragged TCS’ 4QFY17 CC revenue growth to 1% QoQ (est. of +2%). Like INFO, TCS demonstrated strength in Communications, cited concerns in Retail and optimism in BFSI through the course of the year. We now model 8.2% CC revenue growth for

22/04/2017 12:27:39 PM | Posted in Broking Firm Views - Long Term Report read full news
Hold ACC Ltd For Target Rs.1,560.00 - Emkay

Lower costs led to beat at operating level, maintain HOLD

* ACC reported EBITDA of Rs3.4bn against our estimate of Rs3.1bn supported by lower opex/tn and impact of Ind-AS. EBITDA/tn of Cement was at Rs476 against our estimate of Rs429. Sales volume growth at 3.8% YoY was a positive surprise

* Sales volume was at 6.6mt against our estimate of

22/04/2017 12:16:56 PM | Posted in Broking Firm Views - Long Term Report read full news
HDFC Bank's Q4 net profit up 18%

 HDFC Bank on Friday reported a rise of 18.25 per cent in net profit for the fourth quarter (Q4) of 2016-17.

The company's net profit rose to Rs 3,990.09 crore from Rs 3,374.22 crore reported in the fourth quarter of 2015-16.

The total income of the bank rose 14.30 per cent to Rs 21,560.66 crore during in January-March 2017 from Rs 18,862.61 in the corresponding per

Q4FY17E Order momentum continues - Karvy

Project awards seen pick-up during Apr-Feb 2017

Construction sector is expected to post moderate performance for Q4FY17, primarily on account of weak execution in newly won projects. Awarding of new orders have been strong in key segments like Roads & Urban Infra during the quarter, though it remained below the initial targets set by govt (on delay

22/04/2017 10:55:31 AM | Posted in Broking Firm Views - Sector Report read full news
ACC first-quarter profit beats estimates on higher cement sales volume

India's ACC Ltd, a unit of the world's largest cement maker, Lafargeholcim Ltd, reported a 9 percent fall in its first-quarter net profit, but beat analysts' expectations, helped by stronger cement sales volume.

Consolidated net profit fell to 2.11 billion rupees ($32.67 million) for the quarter ended March 31, from 2.32 billion rupees a year earlier, the company's thi

India Agrochemicals - Channel checks South spoils the party in Q4 - RCML

Channel checks: South spoils the party in Q4

Our interactions with agrochemical dealers and players indicate that (a) a below-normal northeast monsoon has severely affected the southern region, (b) pan-India rabi acreage is up 6% YoY but the states of Tamil Nadu and Karnataka have posted declines, (c) southern reservoirs are at very low storage levels,

21/04/2017 4:00:38 PM | Posted in Broking Firm Views - Sector Report read full news
Euro zone economy races into fourth-quarter with bumper growth - PMI

By Jonathan Cable

LONDON - The euro zone economy bounded into the second quarter with strong broad-based growth, according to a survey showing businesses increased activity at the fastest rate for six years as new orders stayed robust.

Signs the bloc is on a sustainable growth path, along with inflationary pressures, will be welcomed by the European Central

Mastek hits 52-week high on robust Q4

Shares of Mastek zoomed nearly 15 per cent, hitting 52-week high, on the Bombay Stock Exchange after Mumbai-based software firm reported a significant jump of over two-fold in its consolidated net profit after taxes (PAT) at Rs 14.45 crore for the fourth quarter ended March 31, 2017. Driven by strong Q4, shares of the company gained as much as 14.67 per cent to hit 52-week high of Rs 273.45 api

UK retail sales post biggest quarterly fall since 2010

By Andy Bruce and Alistair Smout

LONDON - British retail sales posted their biggest quarterly fall in seven years during the first three months of 2017, as rising prices since last year's Brexit vote put more pressure on consumers, official data showed on Friday.

Sterling fell to a day's low after the weaker-than-expected figures, extending a decline

HDFC Bank profit rise drives shares to record

By Devidutta Tripathy

MUMBAI - Shares in HDFC Bank, India's second-biggest lender by assets, hit a record high on Friday thanks to higher than expected quarterly profit and a stable bad loans portfolio.

Net profit rose 18.3 percent from a year earlier to 39.9 billion rupees ($617.60 million) for its fiscal fourth-quarter to March 31, HDFC Bank said, slig

Mindtree fourth-quarter net profit plunges 27 percent, misses estimates

Information technology company Mindtree Ltd said consolidated net profit fell 27 percent in the fourth quarter hurt by a foreign exchange loss and fewer client additions.

The lower-than-expected profit came in at 972 million rupees ($15.04 million) for the three months ended March 31, marking the fourth consecutive quarterly profit decline. http://bit.ly/2opPMde

Analysts on

Hindustan Zinc fourth-quarter profit beats estimates

India's biggest zinc miner Hindustan Zinc Ltd posted a 42 percent jump in fourth-quarter net profit on Thursday, topping street estimates, helped by higher income from zinc production and an increase in metal prices.

Net profit rose to 30.57 billion rupees ($473.2 million) for the January-March quarter from 21.47 billion rupees a year earlier. The profit growth is the biggest in a

Pernod rides U.S. and China growth, but India presents speed bump

By Dominique Vidalon and Pascale Denis

PARIS - Pernod Ricard's third quarter sales beat forecasts on Thursday, lifting its shares, but the French spirits group cautioned that a ban on alcohol sales near Indian highways would slow growth in its second-largest market.

Pernod, the world's second-biggest spirits group after Britain's Diageo, maintain

Impact of US Fed`s interest rate rises on China capital flows diminishing - China FX regulator

BEIJING - The impact of United States interest rate increases on China's capital flows has been diminishing, State Administration of Foreign Exchange spokeswoman Wang Chunying said on Thursday.

China will closely monitor the Fed's interest rate increases and any shrinking in its balance sheet, said Wang.

(Reporting by Kevin Yao; Editing by Joseph Rad

Morgan Stanley's quarterly profit surges on trading gains

Morgan Stanley reported a 74 percent jump in quarterly profit on Wednesday, topping analysts' estimates, as revenue from bond trading nearly doubled following interest rate hikes by the Federal Reserve.

The bank's results stood in sharp contrast to those of chief rival Goldman Sachs, the only lender among the big Wall Street banks to have reported a drop in trading revenue.