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NIFTY analysis with experts, Q2 results of Allahabad Bank, Sun Pharma and Apollo Tyres, Indian Markets move upwards amidst high volatility…. Market updates for 13/11/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 results of Allahabad Bank, Sun Pharma and Apollo Tyres, Indian Markets move upwards amidst high volatility…. Market updates for 13/11/18

Report by- Sabyasachi Bhattacharya

 

Allahabad Bank announced their Q2 results; Loss of Rs 1,822.7 crores reported-

Allahabad Bank on Tuesday reported a net loss of Rs 1,822.7 crore for the September quarter. The lender had posted a profit of Rs 70.2 crore during the same quarter of last year. Let us take a look at the key insights of their report-

  • It reported a fall of 8 percent year on year in its net interest income to Rs 1,150.5 crore against Rs 1,254.5 crore.
  • Asset quality for the bank saw some further deterioration as gross NPA ratio rose to 17.53 percent from 15.97 percent in the previous quarter. The net NPA ratio rose to 7.96 percent from 7.32 percent during the June quarter.
  • On an absolute basis, the gross NPA rose to Rs 27,236 crore during the quarter against Rs 25,068 crore during June. Meanwhile, the net NPA also creeped up to Rs 11,083 crore against Rs 10,410 crore last quarter.
  • The provisions stood at Rs 2,356 crore from Rs 2,736 crore last quarter.

 

Let’s take a look at their report-

Source- MoneyControl, Purple Trades Research Department 

 

 

Sun Pharma announced their Q2 results; Profit falls to Rs 218 crores-

Sun Pharma reported a net loss of Rs 218 crore for the September quarter on the back of one-time loss of Rs 1,214.38 crore. The company had posted a net profit of Rs 912.12 crore during the corresponding quarter of last year. Let us take a look at the key insights of their report-

  • At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA) was posted at Rs 1,531.1 crore, a rise of 11 percent to previous year’s operating profit of Rs 1,375.5 crore.
  • The revenue stood at Rs 6,937.63 crore for quarter under review, up from Rs 6,650.34 crore reported during last year. This implies a rise of 4 percent year on year.
  • The operating margin was reported at 22.1 percent against 20.7 percent last year.
  • At the close of market hours, Sun Pharmaceutical Industries was quoting at Rs 561.70, down Rs 27.85, or 4.72 percent, on the BSE. 
  • It touched an intraday high of Rs 594.90 and an intraday low of Rs 556.05.

Let’s take a look at their report-

Source- MoneyControl, Purple Trades Research Department 

 

Apollo Tyres announced their Q2 results; Profit falls to Rs 218 crores-

Apollo Tyres on Tuesday reported 4.19 percent increase in consolidated net profit at Rs 146 crore for the second quarter ended September 30. The company had posted a net profit of Rs 140.17 crore in the same quarter last fiscal, Apollo Tyres said in a regulatory filing. Let us take a look at the key insights of their report-

  • Total income during the reported quarter stood at Rs 4,269.68 crore. It was at Rs 3,496.3 crore in the year-ago period, it added.
  • The company said its sales grew 23 percent to close at Rs 4,192 crore during the quarter from Rs 3,418 crore in the same period last fiscal led by Indian operations.
  • In the first half of 2018-19 (April-September), sales grew 22 percent to reach Rs 8,442 crore as against Rs 6,931 crore in the year-ago period.
  • Net profit for the period was up 74 percent at Rs 398 crore as compared to Rs 228 crore in the same period last year, the company added.
  • They are looking forward to a similar growth momentum in the next few quarters as well.

Source- MoneyControl, Purple Trades Research Department 

 

 

Indian Indices move forward after breaking key resistance level-

Chart source- Upstox

Indian markets had a good day today as major Indices move forward. Nifty as you can see on the chart given above had GAP-DOWN opening. It technically broke a support in the morning but couldn’t sustain it. Early morning saw a bit of consolidation period but soon the markets started moving upwards and then the BEARS couldn’t make a come back from there on. As you will notice that Nifty had a very hard time breaking the support of 10,465. But once it did break the resistance of 10,530 it moved upwards to close at 10,580. Last 15mins saw a brief period of selling pressure by the BEARS. This will provide a crucial resistance for tomorrow’s move. In terms of sectors, energy, infra, metals, banks and automobiles were the top gainers, while pain was seen in the pharmaceuticals’ space. The midcap index, too, ended on a positive note, closing over one-third of a percent higher. At the close of market hours, the Sensex ended up 331.50 points or 0.95% at 35144.49, while the Nifty closed up 100.30 points or 0.96% at 10582.50. The market breadth was narrow as 1,305 shares advanced, against a decline of 1,283 shares, while 150 shares were unchanged. Shares of NTPC, ICICI Bank, Eicher Motors and IOC were the top gainers, while Sun Pharma and Tata Motors lost the most.

 

 

 

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

Global Indices had a mixed reaction today as both Asian and US markets were seen in the RED but the European market was seen in the GREEN.

Source- MoneyControl, Purple Trades Research Department 

 

 

Key Points for Traders to watch out for while trading Nifty tomorrow-

  • Nifty has broken the resistance at 10,530 and moved to 10,580, the next crucial resistance will be at 10,600.
  • Market breath is very negative as many PUTS have been unwound today. Also much heavy CALL Writing has been seen on the levels of 10,600 and also at 10,500.
  • 10,565 is a short term support for Nifty.
  • If Nifty breaks 10,565 then it has the potential to go down to the next support at around 10,520 or 10,500.
  • 10,620 is a short term resistance for Nifty.
  • If Nifty goes above 10,620 then it can potentially go up to 10,690 or above.

 

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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