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NIFTY’s expected movement for Tuesday ANALYSED by experts, Q2 results of SBI Bank and Cipla, Indian Markets remained flat amidst high volatility…. Market updates for 05/11/18

PurpleTrades - stock market courses > News > NIFTY’s expected movement for Tuesday ANALYSED by experts, Q2 results of SBI Bank and Cipla, Indian Markets remained flat amidst high volatility…. Market updates for 05/11/18

Report by- Sabyasachi Bhattacharya

 

SBI Bank announced their Q2 results; Profit falls  nearly 40%-

State Bank of India reported a net profit of Rs 944.9 crore for the September quarter against a net loss of Rs 4,875.85 crore during the previous quarter. The public sector lender reported a profit of Rs 1,581.55 crore during the corresponding quarter of last year. On a year-on-year basis, the bank has reported a fall of 40 percent. Let us take a look at the key insights of their report-

  • The profit is in stark contrast to Street estimates, which foresaw a net loss for the same quarter. A one-time gain of Rs 1,560 crore was reported during the quarter.
  • The net interest income (NII) is reported at Rs 20,905.7 crore. The bank had reported an NII of Rs 18,585.9 crore during the same period of last year.
  • The public sector lender reported improved asset quality as net NPA ratio fell to 4.84 percent against 5.29 percent during the previous quarter. The collective net NPA stood at Rs 94,810 crore against Rs 99,263.3 that was reported in June quarter.
  • The Gross NPA ratio also declined to 9.95% from 10.69 percent during the June quarter. Overall gross NPAs were reported at Rs 2.05 lakh crore, a fall from Rs 2.12 lakh crore during the previous quarter.
  • Gross slippages stood at Rs 10,888 crore, a fall from Rs 14,349 crore in Q1.
  • The public sector bank’s watchlist has fallen from Rs 22,289 crore to Rs 20,359 crore.

 

                                                   

Let us take a look at the company’s Q2 report-

 

Source- MoneyControl, Purple Trades Research Department   

                                    

 

Cipla announced their Q2 results; Profit falls 11% to Rs 377 crores-

Cipla on Monday, reported a fall of 11 percent (year-on-year) in its net profit for the September quarter at Rs 377 crore. The company had reported a profit of Rs 422.9 during the same period of last year. Let us take a look at the key insights of their report-

  • The revenue fell marginally to Rs 4,012 crore from Rs 4,082.41 crore during the corresponding quarter of last year.
  • The earnings before interest, taxes, depreciation and amortization (EBITDA) fell 13 percent year on year at Rs 702 crore from Rs 804 crore during the same quarter of last year.
  • The operating margin was reported at 17.5 percent against 19.7 percent last year.
  • The company had received various notices of demand from the National Pharmaceutical Pricing Authority (NPPA), Government of India, on account of alleged overcharging in respect of certain drugs under the Drugs (Prices Control) Orders. The total demand against the Company as stated in NPPA public disclosure amounts to Rs 2,610.09 crore.
  • The stock has fallen 7 percent in the past one month. In the past three days, it fell around 4 percent. At 12:50 hrs Cipla was quoting at Rs 604.90, down Rs 3.60, or 0.59 percent. It touched an intraday high of Rs 616.60 and an intraday low of Rs 599.05, on the BSE.

 

 

Let us take a look at the company’s Q2 results-

 

Source- MoneyControl, Purple Trades Research Department 

 

   

Indian Indices had a range-bound day amidst high volatility-

Chart source- Upstox

Indian markets had a very indecisive day as major resistances and supports couldn’t be breached. The market sort of remained flat amidst high volatility. As you can see on the chart the markets opened at the same level where it closed yesterday, this means that the traders and investors were unsure since the beginning about the direction of the market. Throughout the morning session the markets fell heavily before encountering a major support at 10,480. From this level the markets started moving upwards and regained much of the losses that it incurred at the beginning of the day. But it wasn’t enough to keep the Index close at a high. Last hour buying helped the Indices to recover some ground with Nifty ended above 10,500 level. Among the sectors, the Nifty PSU bank index remained the major contributor to the recovery as it ended higher by more than 3 percent. Nifty IT and Metal index also ended in green, while auto, infra, pharma and FMCG index ended in red. At the close of market hours, the Sensex was down 64.02 points at 34,947.63, while the Nifty was down 29 points at 10,524. About 1324 shares have advanced, 1292 shares declined, and 155 shares are unchanged. SBI, Axis Bank, Reliance Industries, Wipro and Coal India are the top gainers, while IndusInd Bank, NTPC, Power Grid Corp, Hero Motocorp and Adani Ports lost the most on the Sensex.

Our experts at PURPLE TRADES  predicted on Friday that if the market couldn’t breach the 10,600 levels then be indecisive about the markets. Read the entire article here to gain important insights-

 

 

 

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

Global Indices were mostly seen in the RED as only European markets ended up in the GREEN. Heavy selling was seen across all the global markets including US markets and Asian markets.

Source- MoneyControl, Purple Trades Research Department   

 

 

Let’s take a look at the EXPECTED movement of NIFTY for tomorrow-

Our experts in PURPLE TRADES  have done some analysis of the markets after today’s move by the Nifty and found out the key factors to watch out for on Tuesday-

  • The key support for Nifty will be provided by 10,500 level as the change in OI was almost 2 Lakhs and the cumulative OI was seen to be at 19 Lakhs. But exact support can be expected to be at 10,480.
  • If the markets fall down further below from 10,500 then the next support is expected to be at 10,400 with a cumulative OI at 13 Lakhs.
  • If the markets move upwards then the first resistance will be provided at 10,550.
  • But the most important resistance level is at 10,600 and the market is not expected to breach that level tomorrow.
  • State Bank of India posted a huge loss in net profits hence this can lead to the downfall in the markets tomorrow.

 

 

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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