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NIFTY analysis with experts, Q2 results of M&M and Page Industries, Indian markets end a range-bound day on a flat note…. Market updates for 14/11/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 results of M&M and Page Industries, Indian markets end a range-bound day on a flat note…. Market updates for 14/11/18

Report by- Sabyasachi Bhattacharya

 

Mahindra and Mahindra announced their Q2 results; Profit up by 26% YoY to Rs 1778.75 crores-

Automobile major, Mahindra and Mahindra, reported a net profit of Rs 1,778.75 crore for the September quarter. This implies a jump of 26 percent from the profit of Rs 1,410.86 crore posted during the same quarter of last year. Let us take a look at the key insights of their report-

  • The results include combined financials for Mahindra & Mahindra as well as Mahindra Vehicle Manufacturers (MVML).
  • . The total revenue increased to Rs 12,790. 17 crore during the quarter against Rs 12,019.37 crore posted during Q2 of FY18. The revenue grew 6 percent year on year.
  • At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA) fell to Rs 1,849 crore from Rs 1,923 crore posted last year.
  • The operating margin was reported at 14.4 percent, down from 16 percent last year.
  • The company has posted a one-time gain of Rs 137.5 crore during the quarter, while its tax expense grew to Rs 848 crore from Rs 555 crore last year.
  • Its tractor segment revenue grew to Rs 4,028 crore, up 1.8 percent YoY from Rs 3,958 crore posted last year. Meanwhile, the tractor EBIT fell 3 percent at Rs 813 crore from Rs 841 crore last year.

 

 

Let’s take a look at their report-

Source- MoneyControl, Purple Trades Research Department 

 

 

Page Industries announced their Q2 results; Profit jumps by 10% to Rs 92.6 crores-

Page Industries has registered 10 percent jump in its year on year net profit at Rs 92.6 crore in the quarter ended September 2018. Let us take a look at the key insights of their report-

  • It had reported profit of Rs 84.05 crore in the same quarter last year.
  • Revenue rose 10 percent at Rs 690.7 crore against Rs 625.7 crore.
  • Its operating profit or EBITDA was up 11 percent at Rs 142.8 crore, while margin was at 20.7 percent.
  • The other income was at Rs 10.8 crore, while tax expense was at Rs 49.3 crore.
  • The board declared second interim dividend of Rs 41 per share and special dividend of Rs 110 per share on an equity share.

 

Let’s take a look at their report-

Source- MoneyControl, Purple Trades Research Department 

 

Indian Indices move in a range bound fashion amidst low volatility-

Chart source- Upstox

Indian markets had a range bound day after a bullish run yesterday. It wasn’t able to break major resistances and supports. Nifty had a GAP-UP opening today as you can see on the chart above. The Index soon started falling from those levels and finally consolidated in the late morning session before moving upwards during the lunch session. In the end of the day it had both an upwards as well as downwards movement. Traders seemed to be cautious about the market as no major movement was witnessed today and Nifty only lost a few points at the end of the day. The Sensex is down 2.50 points at 35141.99, while Nifty down 6.20 points or 0.06% at 10576.30. About 1174 shares have advanced, 1397 shares declined, and 138 shares are unchanged.

 

 

 

 

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

Global Indices had a mixed reaction today as European market Indices FTSE was seen in the GREEN but CAC and DAX were seen in the RED. Even the Asian markets had a mixed reaction as NIKKEI was seen in the GREEN but Straits Times was seen in the RED. US markets were up as NASDAQ was in the GREEN.

Source- MoneyControl, Purple Trades Research Department 

 

 

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

  • 10,535 is a short term support for Nifty.
  • If Nifty breaks 10,535 then it has the potential to go down to the next support at around 10,500..
  • 10,620 is a short term resistance for Nifty.
  • If Nifty goes above 10,620 then it can potentially go up to 10,650 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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