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NIFTY analysis with experts, Q2 results of SpiceJet and Keerthi Ind, Indian markets move ahead as BULLS took charge of the day…. Market updates for 15/11/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, Q2 results of SpiceJet and Keerthi Ind, Indian markets move ahead as BULLS took charge of the day…. Market updates for 15/11/18

Report by- Sabyasachi Bhattacharya

 

SpiceJet announced their Q2 results; Net loss of Rs 389 crores reported-

SpiceJet on Wednesday, posted a net loss of Rs 389.3 crore for the September quarter against a net profit of Rs 105.2 crore that the airline posted during the same quarter of last year. Let us take a look at the key insights of their report-

  • Total income has risen to Rs 1,880.86 crore, up 4 percent year on year from Rs 1,811.4 crore reported last year.
  • The airline posted an operating loss of Rs 321.5 crore during the quarter against an operating profit of Rs 139.5 crore last year.
  • Expenses per ASKM increased by 25% on account of 48% increase in ATF and 10% increase in exchange rate, the airline said in a statement.
  • The carrier reported a net loss on account of rising fuel costs and rupee depreciation.
  • The company will take deliveries of 10 more Boeing 737 MAX aircraft in Q3 and up to

8 MAX aircraft have been planned for inductions in Q4 of FY2019. Further 4 Q400 aircraft shall be inducted during Q3FY 2019 and up to 4 Q400s are planned for inductions in Q4 of FY 2019.

  • The company paid an amount of Rs 272 crore on account of increase in cost of aviation turbine fuel (ATF), Rs 78 crore on account of rupee depreciation and an amount of Rs 46 crore on account of forex losses on its obligations as compared to Q2 2017. Revenue performance remained disciplined and fell by only 1% in spite of severe competition.

Source- MoneyControl, Purple Trades Research Department   

 

 

Keerthi Ind announced their Q2 results; Net sales at Rs 41.77 crores, up by 8.19% YoY-

Keerthi Ind posted a decent Q2 result. The net sales improved for the company amidst good revenue through sales. Net Sales at Rs 41.77 crore in September 2018 up 8.19% from Rs. 38.61 crore in September 2017. Let us take a look at the key insights of their report-

  • Quarterly Net Profit at Rs. 2.19 crore in September 2018 down 13.33% from Rs. 2.53 crore in September 2017.
  • EBITDA stands at Rs. 1.68 crore in September 2018 down 80.24% from Rs. 8.50 crore in September 2017.
  • Keerthi Ind EPS has decreased to Rs. 2.73 in September 2018 from Rs. 3.15 in September 2017.

 

  • Keerthi Ind shares closed at 68.35 on November 14, 2018 (BSE) and has given -46.27% returns over the last 6 months and -61.65% over the last 12 months.
  • The net sales improved for the company amidst good revenue through sales. Net Sales at Rs 41.77 crore in September 2018 up 8.19% from Rs. 38.61 crore in September 2017.

Source- MoneyControl, Purple Trades Research Department     

 

 

Indian Indices move upwards and closed above 10,600-

Chart source- Upstox

Indian markets moved upwards today. BULLS were seen taking the charge today from the beginning of the day only. There was a brief period of consolidation early in the morning but soon the BULLS took the price above and touched the 10,639 mark. But the BULLS were not able to break the 10,639 mark and consolidated there for a brief period of time as well. The market closed below that level and just above 10,600. In the end the benchmark indices ended on positive note with Nifty managed to close above 10,600 level. The Sensex was up 118.55 points at 35260.54, while Nifty was up 40.40 points at 10,616.70. Shares of Jet Airways ended 28 percent higher on the report of Tata-Jet deal. Adani Ports, Kotak Mahindra Bank, Hero Motocorp, Axis Bank and Tata Motors are the top gainers on the Sensex.

 

 

 

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 RED but Straits Times was seen in the GREEN. US markets were down as NASDAQ was in the RED.

Source- MoneyControl, Purple Trades Research Department   

 

 

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

  • 10,570 is a short term support for Nifty.
  • If Nifty breaks 10,570 then it has the potential to go down to the next support at around 10,500..
  • 10,630 is a short term resistance for Nifty.
  • If Nifty goes above 10,630 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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