INSUBCONTINENT EXCLUSIVE:
NEW DELHI: The June quarter earnings season has come to an end.
The overall results of the 50 companies in the Nifty pack witnessed a
gradual recovery largely on account of smaller base in the year ago quarter
However, some took a hit to their profitability owning to currency volatility and pressure on operational performance given higher
Moreover, PSU banks disappointed on the back of higher provisioning along with slippages and mark-to-market losses.
According to Centrum
Wealth Research, net sales of 40 non-BFSI (out of Nifty 50 companies) grew by 23.2 per cent year-on-year, whereas net profit grew by 21.3
Net interest income (NII) of 10 BFSI (out of Nifty 50 companies), grew by 20.4 per cent YoY, while net profit declined by 47.4 per
cent.
Bajaj Finance stood best performer in the BFSI space in terms of both in net interest income and net profit
The biggest deterioration in profit terms among BFSI stocks was seen again in State Bank of India (on the back of lower trading income and
higher mark-to-market losses)
Among private banks, ICICI Bank reported its first quarterly loss (since its IPO) of Rs 120 crore.
In the non-BFSI segment, Grasim
Adani Ports SEZ was the worst performer in terms of net sales and Tata Motors (which reported a loss on the back of challenges faced by its
subsidiary Jaguar Land Rover in UK) was the worst performer in terms of net profit.
With earnings wrapped up, here are 10 companies on which
on Dilip Buildcon with a target price of Rs 1,271
The company is one of our top picks in India infrastructure story, according to Citi
It further added that road asset sale to the Shrem group is on track and it is targeting order wins of around Rs 10,000 crore in FY19E.
Sun
PharmaCLSA revised target price for Sun Pharma upward to Rs 750 from Rs 600 earlier
crore for the June quarter of 2018-19
It had posted a net loss of Rs 424.92 crore in the year-ago quarter on account of an exceptional item
The company posted 107.84 per cent year-on-year rise in net profit at Rs 254.89 crore for the quarter ended June 2018 against Rs 122.64
crore in the corresponding quarter last year.
Dewan Housing Finance Corporation (DHFL)Japanese brokerage firm Nomura believes that ROE
improvement should drive re-rating for Dewan Housing
with a target price of Rs 350
The state-run company recently posted a 61 per cent rise year-on-year in its consolidated net profit at Rs 3,786.44 crore for the April-June
on Tata Steel with a target price of Rs 890
However, adjusted Ebitda was inline with expectations
India business was also inline with estimates but Europe business remained better than expectations, according to Credit Suisse
The company more than doubled its net profit at Rs 1,934 crore for the quarter ended June 30 against to Rs 921 crore in the year-ago
period.
Cummins IndiaEngine-maker Cummins India recently reported 17.56 per cent decline in its net profit at Rs 183 crore for the first
rating on shares the company with a target price of Rs 850
The global brokerage firm believes the next quarter could possibly carry an upgrade
Sharp correction and under performance over the last two years driving reasonable valuations for
Ipca LabsIpca Laboratories reported a
standalone net profit of Rs 65.52 crore for the quarter ended June 30, mainly on account of robust sales
The drug firm had posted a net loss of Rs 20.25 crore in the year-ago period
The company is poised for mid-teens sales growth
cent jump in its standalone net profit to Rs 414 crore for the first quarter ended June 30, 2018
The aluminium maker had clocked a standalone net profit of Rs 290 crore in the corresponding period a year-ago
lender last week posted a major loss of Rs 4,876 crore for the first quarter ending June, caused by higher provisioning on account of its
accumulated non-performing assets (NPAs), or bad loans
In a stock exchange filing, the SBI said it had earned a net profit of Rs 2,005.5 crore in the same period of last fiscal.
Aditya Birla
The company recently reported a 31 per cent rise in net profit for the three months to June at Rs 227 crore on an income growth of 32 per
cent at Rs 3,374 crore.
The company's assets under management rose to Rs 3,05,684 crore from Rs 2,62,113 crore, and overall lending book
rose to Rs 53,584 crore from Rs 41,066 crore.
Its life insurance and health arm reported a total gross premium of Rs 1,205 crore from Rs 937
