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IndusInd Bank and TV18 Q2 results, Indian Markets remained almost flat amid high Volatility…. Market updates for 15/10/18

PurpleTrades - stock market courses > News > IndusInd Bank and TV18 Q2 results, Indian Markets remained almost flat amid high Volatility…. Market updates for 15/10/18

Report by- Sabyasachi Bhattacharya

 

IndusInd Bank announced their Q2 results; Profit jumps 4.6% to Rs 920 crores-

Private sector lender IndusInd Bank released their un-Audited Q2 results today.  IndusInd Bank has reported 4.6 percent year-on-year growth in second quarter profit to Rs 920.25 crore, dented by sharp rise in provisions. Let us take a look at the key insights from their 2nd Quarter report-

  • Net interest income grew by 21 percent year-on-year to Rs 2,203.28 crore in Q2 with robust loan growth at 32.4 percent.
  • Asset quality improved in the quarter ended September 2018 as gross non-performing assets (NPA) fell to 1.09 percent against 1.15 percent in previous quarter and net NPA declined to 0.48 percent against 0.51 percent QoQ.
  • In absolute terms, gross NPA increased 2.3 percent sequentially to Rs 1,781.4 crore and net NPA rose 3.3 percent to Rs 787.6 crore in second quarter of financial year 2018-19.
  • Provisions and contingencies shot up 68.6 percent sequentially and 101 percent year-on-year to Rs 590.27 crore in July-September quarter. The bank has made a contingent provision of Rs 275 crore on certain infrastructure assets, which are standard assets.
  • Other income or non-interest income during the quarter grew by 11 percent to Rs 1,317.3 crore and operating profit surged 22 percent to Rs 1,992.44 crore compared to year-ago.

 

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

 

Source- MoneyControl, Purple Trades Research Department 

 

 

 

TV18 Broadcast announced their Q2 results; Profit increased to Rs 40.36 crores-

TV18 Broadcast, one of India’s largest television broadcasting networks, turned profitable for the quarter ended September 2018 on a sequential basis. The company posted a consolidated profit for the quarter at Rs 40.36 crore against a loss of Rs 6.82 crore in the previous period. Let us take a look at some key points of their report-

  • Consolidated revenue from operations in Q2 grew by 12 percent sequentially to Rs 1,198.33 crore compared to Rs 1,088.19 crore in June quarter.
  • In September quarter 2017, TV18 had reported a profit at Rs 7.33 crore on revenue of Rs 227.23 crore.
  • Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) jumped to Rs 107.8 crore from Rs 39.2 crore and margin expanded to 9 percent from 3.6 percent
  • At the close of market, the stock price was quoting at Rs 39.75, up Rs 4.60, or 13.09 percent on the NSE after strong sequential growth in earnings.

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

Source- MoneyControl, Purple Trades Research Department 

 

 

Volatile Monday on Dalal Street as Indian Indices move upwards-

Chart source- Upstox

Indian markets had a positive opening to this week as they saw a lot of volatility throughout the day. Major Indices Sensex and Nifty closed higher giving a green candle on the daily charts. It’s a good follow-through to the market’s strong close on October 12, 2018, with the Sensex closing over 100 points higher. The Nifty ended above 10,500-mark.  Indian markets traded in a specified range the entire day. As you can see in the charts Nifty started falling in the early sessions till lunch. During lunch hours it consolidated and started moving upwards. At the close of market hours, the Sensex ended up 131.52 points or 0.38% at 34865.10, while the Nifty rose 40 points or 0.38% at 10512.50. The market breadth is positive as 1,637 shares advanced, against a decline of 965 shares, while 895 shares were unchanged. Infosys, ITC, Dr Reddy’s and Cipla were the top gainers, while Mahindra & Mahindra, HUL, and Bajaj Finserv lost the most. Major Global Indices were down today as only DAX and NASDAQ were seen in the green. FTSE and SGX Nifty were seen flat.

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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