Thursday, 23 May 2019



Shares of Sun TV Network were trading 4% higher on Thursday after counting of votes in early trend shown that Dravida Munnetra Kazhagam (DMK) is leading in Tamil Nadu.

As per media reports, the Congress-DMK alliance are likely to win 34-38 seats out of the total 39 seats in the Lok Sabha Election 2019.

As per India Today-Axis My India exit poll, the AIADMK and BJP alliance may win at most 4 seats. DMK is also expected to come back to the power in the state as the result of the bypolls in the 22 Assembly seats will also be announced on Thursday along with the Lok Sabha results.

Sun TV Network Ltd's share price is currently at Rs574.55, up by Rs21.2 or 3.83%, from its previous close of Rs553.35 on the BSE.

The scrip opened at Rs577.30 and has touched a high and low of Rs597 and Rs567.75, respectively. So far, 20,32,558 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs21,806.67cr.

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IndusInd Bank shares rallied another 5 percent intraday on May 23 as brokerages remained strong despite weak earnings in March quarter.

The management after earnings told CNBC-TV18 that the bank wanted to put IL&FS behind in FY19 and entire exposure to IL&FS has turned into NPAs in Q4. "We made additional provisions of Rs 1,120 crore in Q4 and we expect 90–100 percent recovery from IL&FS operating company."

The private sector lender reported a massive 62.2 percent year-on-year decline in profit at Rs 360.1 crore in Q4, which was far below CNBC-TV18 poll estimates of Rs 744 crore. The sharp increase in provisions (majorly related to IL&FS) and less than expected growth in NII dented earnings growth.

"IIB's earnings were below estimates mainly due to the bank providing incrementally Rs 1,120 crore on recognizing IL&FS which had been indicated earlier. Ex-IL&FS, core performance has been decent but was weak on NII due to impact from cost of funds and was led by other income," Prabhudas Lilladher said.

"Bank explained provisions on IL&FS are enough. Also, it has only 1.9 percent FB+NFB exposure to recent stressed groups, also SMA-1 & SMA-2 together remains benign at 0.6 percent of loans," he added.

Net interest income grew 11.2 percent YoY to Rs 2,232.4 crore in Q4, with loan growth at 28.6 percent YoY. "Net interest margin ex-IL&FS remained stable and with Bharat Financial, net interest margin should cross 4 percent," the management said.

Asset quality weakened with the gross NPA rising at 2.10 percent in Q4 against 1.13 percent in Q3FY19. Provisions shot up sharply to Rs 1,561 crore in the quarter ended March 2019, compared to Rs 606.7 crore in December quarter and Rs 335.6 crore in Q4FY18.


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Shares of Bank of Baroda (BoB) surged almost 14 per cent to Rs 143.60 in Thursday's session, a day after the public lender reported its March quarter results.

BoB reported a loss of Rs 991.37 crore in the March quarter against Rs 3,102.34 crore in the corresponding quarter last year.

Provision and contingencies declined 19 per cent to Rs 5,399.29 crore against Rs 6,672.38 crore in the same period last year.

"The bank has been reporting healthy traction in domestic loan growth while operating metrics are showing gradual improvement. We expect fresh slippages to moderate over FY20/21,"

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Wednesday, 22 May 2019





Drug major Cipla on Wednesday posted better-than-expected financial results for the quarter ended March 31. The pharma firm had posted 106 per cent year-on-year (YoY) rise in profit at Rs 367 crore in Q4FY19 against Rs 179 crore in the same period last year. 

Analysts in a ET NOW poll had projected a profit of Rs 320 crore during the quarter under review.

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Shares of Dewan Housing Finance Corporation (DHFL) cracked nearly 18 per cent in Wednesday's trade, a day after the NBFC said it would neither accept new deposits nor allow premature withdrawals. 

Premature withdrawals would be allowed only in cases of medical or financial emergency, DHFL said.

The decision comes just after rating agency CARE downgraded DHFL’s fixed deposit programme worth Rs 20,000 crore from A to BBB-.

Crisil had earlier downgraded Rs 850 crore worth of DHFL commercial papers due to delays in fund inflows from asset sales and securitisation deals. About half a dozen investors have shown interest in buying stakes in DHFL.

Meanwhile, the company was holding talks with US-based Oaktree Capital Management to raise up to Rs 18,000 crore by selling real estate builder loan portfolios, ET reported on May 17.




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Shares of Tech Mahindra fell almost 4 per cent in Wednesday's session to Rs 745.30, a day after the company reported a 7.32 per cent YoY drop in consolidated profit at Rs 1,132.50 crore for the March quarter.

The IT firm had posted a profit of Rs 1,222 crore in the same quarter last year.

Revenue for the quarter rose 10.40 per cent to Rs 8,892.30 crore compared with Rs 8,054.50 crore in the year-ago quarter.


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Shares of DLF jumped almost 6 per cent to Rs 181.20 in Wednesday's session, a day after the realty developer reported a 68 per cent on-year (YoY) rise in its consolidated net profit at Rs 410 crore for the quarter ended March 2019.

Total income for the period rose 44 per cent to Rs 2,660.95 crore, the company said in a regulatory filing.

The company has declared a dividend of Rs 2 per share for the year ended March.

Its consolidated revenue at the end of the financial year jumped 18 per cent to Rs 9,029 crore, while net profit stood at Rs 1,316 crore.

DLF achieved net sales of Rs 2,435 crore during the year, as against Rs 1,000 crore a year ago.



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