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Infosys and Hero MotoCorp Q2 results, Indian Markets trade range-bound …. Market updates for 16/10/18

PurpleTrades - stock market courses > News > Infosys and Hero MotoCorp Q2 results, Indian Markets trade range-bound …. Market updates for 16/10/18

Report by- Sabyasachi Bhattacharya

 

Infosys announced their Q2 results; Net Profit rises up to Rs 4,110 crores-

IT giant Infosys which is currently the 5th Largest company by Market Capitalization has reported in-line results for the quarter ended September on Tuesday. The net profit came in line with estimates, while it was a miss on margins. Shares of Infosys ended 0.4 percent lower at Rs 696 ahead of results. The company announced its numbers post market hours. Most experts feel that it was a mixed bag from Infosys and the stock could see a lukewarm response from D-Street on Wednesday. Infosys is being conservative with regard to the ask rate. The market will see revenue growth as positive, but the results are a mixed bag, miss on margins is slightly negative. Let us take a look at the key insights of their report-

 

  • Infosys reported a net profit of Rs 4,110 crore for the quarter ended September which was better than Reuters estimate of Rs 4,088 crore
  • The IT major reported nearly 14 percent quarter-on-quarter (QoQ) jump in the net profit for the September quarter. Infosys reported a net profit of Rs 3612 crore in the previous quarter.
  • Revenues for the IT major rose 7 percent on a QoQ basis to Rs 20,609 crore. The company reported consolidated revenues of Rs 19,128 crore in the previous quarter.
  • Digital revenues came in at $905 million (31% of total revenues), a year-on-year growth of 33.5% and sequential growth of 13.5% in the constant currency terms. The H1 revenues grew by 14.7% in INR terms, and 7.1% in constant currency terms.
  • Infosys at its Board meeting held on Tuesday declared an interim dividend of Rs 7/- per equity share and fixed October 27, 2018, as record date and October 30, 2018, as payment date.
  • Operating margin in the second quarter was 7 percent, slightly above the 22-24 percent range Infosys had forecast.
  • The Company has allotted 2,18,41,91,490 fully paid up equity shares of face value Rs 5/- each during the three months ended September 30, 2018, pursuant to a bonus issue approved by the shareholders through postal ballot.

 

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

Source- MoneyControl, Purple Trades Research Department 

 

  

Hero MotoCorp announced their Q2 results; Profit falls 3% to Rs 976 crores-

Two-wheeler major Hero MotoCorp’s second quarter (July-September) profit declined 3.4 percent year-on-year to Rs 976.28 crore, dented by weak operational performance. Hero MotoCorp, backed by sustained demand for its popular range of motorcycles and scooters, continued its sales growth in Q2FY19 compared to the corresponding quarter in the previous fiscal. Hero expects to carry the momentum forward during the rest of the year, and navigate through the cost challenges to deliver profitable and sustained growth. Let us take a look at the key factors in their report-

  • Revenue from operations grew by 6 percent on year to Rs 9,090.94 crore for the quarter ended September 2018, driven by volume growth.
  • The company sold 21.34 lakh units in September quarter, a 5 percent higher over 20.23 lakh units sold in a year-ago.
  • Operational numbers were down for the quarter due to higher depreciation cost (up 11.6 percent YoY), other expenses (18.7 percent) and raw material cost (13.6 percent).
  • EBITDA (earnings before interest, tax, depreciation and amortisation) fell by 5.3 percent to Rs 1,378.7 crore and margin contracted by 222 basis points to 15.2 percent YoY due to higher commodity cost.
  • Profit declined 3.4 percent year-on-year to Rs 976.28 crore, dented by weak operational performance.

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 flat day today as major Indices made no significant movement throughout the day. Nifty as you can see was trading in a range-bound situation. This low volatility or low activity will be welcomed by the long term investors as the same Indices saw major downfalls during the entire September series. Nifty fell almost 1000 points in the September series due to poor macros and Global tensions between USA, China, Saudi and Iraq. The broader markets outperformed benchmark indices with the BSE Midcap rising 1.14 percent and Smallcap up 1.68 percent on positive advance:decline ratio. More than two shares gained for every share falling on the BSE. Benchmark indices closed sharply higher on Tuesday with the Sensex gaining nearly 300 points as all sectoral indices ended in the green despite mixed global cues. The fall crude oil prices and rupee appreciation also boosted sentiment. The 30-share BSE Sensex rose 297.38 points to 35,162.48 and the 50-share NSE Nifty gained 72.30 points at 10,584.80. Reliance Industries, ICICI Bank, HDFC, M&M, SBI, Adani Ports, Axis Bank, ONGC and TCS were leading contributors to Nifty’s gains while HDFC Bank, Infosys, Indiabulls Housing, JSW Steel, Eicher Motors and Maruti Suzuki fell. Nifty Midcap index gained 1.5 percent with strong advance:decline ratio of 3:1. Major Global Indices were trading in the Green today as only Shanghai Composite, Straits Times and NASDAQ were seen in the red. KOSPI was 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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