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ACC and Cyient Q2 results, Indian Markets bleed on Dalal Street…. Market updates for 17/10/18

PurpleTrades - stock market courses > News > ACC and Cyient Q2 results, Indian Markets bleed on Dalal Street…. Market updates for 17/10/18

Report by- Sabyasachi Bhattacharya

 

ACC announced their Q2 results; Net Profit rises up by 15% to Rs 209 crores-

Cement major ACC reported a rise of 15 percent (Year-on-year) in its net profit for the September quarter at Rs 209.1 crore. The firm had reported a profit of Rs 181.5 crore during the same quarter of last year. Let us take a look at some key insights from their report-

  • The consolidated revenue rose to Rs 3,364 crore, up 10 percent from Rs 3,054 crore year on year.
  • The operating profit rose to Rs 444 crore, up 7 percent from the corresponding quarter of last year.
  • Cement Volume is constantly showing growth at 10%.
  • Ready mix concrete volume growth at 12%.
  • While costs of input materials such as coal, petcoke, diesel and slag continued to increase, they were partly offset by improvements in operating efficiencies and productivity.

 

 

Take a look at the company’s report, released today.

Source- MoneyControl, Purple Trades Research Department 

 

Cyient announced their Q2 results; Profit increased 54% to Rs 127.1 crores-

Information technology firm, Cyient, reported a net profit of Rs 127.1 crore for the September quarter, up around 54 percent from the previous quarter. On a year on year basis, the profit rose 14 percent from Rs 111.4 crore that the company reported in the same quarter of last year. Let us take a look at the key factors from their report-

  • Its consolidated revenue rose to Rs 1,187 crore, up from Rs 1,080 crore posted during the previous quarter. In Q1 of FY18, this figure stood at Rs 965.4 crore.
  • The firm’s dollar revenue came in at $168.9 million, a rise of 5.5 percent QoQ, and 12.5 percent YoY.
  • The operating profit grew to Rs 162.6 crore from Rs 131.6 crore posted during the previous quarter. This is a growth of 24 percent.
  • The company also declared an interim dividend of Rs 6 per share.
  • The operating margin is reported at 7 percent, a rise from 12.2 percent from the previous quarter.
  • Net profit of Rs 127.1 crore for the September quarter, up around 54 percent from the previous quarter.

Take a look at the company’s report, released today.

Source- MoneyControl, Purple Trades Research Department 

Markets bleed heavily as major Indices end up in the RED-

Chart source- Upstox

Indian Markets had a rough day on Dalal Street as major indices went into RED by the end of the day. Nifty as you can see had a Gap-Up opening but couldn’t sustain that movement and had a major fall from thereon. The 50-share index, which rose above 10,700 in the opening tick, ended the day just above 10,450. As you can see in the chart Nifty moved in a Swing-movement fashion through-out the day. Yesterday’s close did provide a crucial support to the markets but it couldn’t be sustained for long. Non-banking financial companies (NBFCs), particularly housing finance companies, saw a big fall, which spilled over to other financial names as well. As a result, sectoral indices such as PSU banks as well as Bank Nifty ended 1.5-3 percent lower. A sell-off in the midcaps segment also added to the weak sentiment. Automobiles, metals, pharmaceuticals and energy sectors were the other big losers. Increasing price of Crude Oil and heavy inflow of money into the bonds market in US are causing such an event in Indian Markets. At the close of market hours, the Sensex is down 382.90 points or 1.09% at 34779.58, while the Nifty ended lower by 131.80 points or 1.25% at 10453.00. The market breadth was negative as 705 shares advanced, against a decline of 1,884 shares, while 942 shares were unchanged. Asian Market Indices were trading in the Green today as Nikkei was up by 291.88 points today. The same effect of Asian markets wasn’t seen in Indian Markets.

Let’s take a look at the performance of major Indices.

Source- MoneyControl, Purple Trades Research Department 

 

 

 

 

Top sectors that moved the market today- Data source- Moneycontrol

 

 

Top Gainers for today-   Data source- Moneycontrol

 

 

Top losers for today- Data source- Moneycontrol

 

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