BangaloreBangaloreHyderabadRest of India Mon - Sun 09:00-18:00 +91-814-708-4334, +91-636-192-2946 Mon - Sun 09:00-18:00 +91-9963640037 +91-636-192-2946 Mon - sun 10:00-18:00 +34-354-5468-8

Q2 results of Colgate Palmolive and TATA Power, Indian Markets bounce back from crucial support…. Market updates for 29/10/18

PurpleTrades - stock market courses > News > Q2 results of Colgate Palmolive and TATA Power, Indian Markets bounce back from crucial support…. Market updates for 29/10/18

Report by- Sabyasachi Bhattacharya

 

Colgate Palmolive announced their Q2 results; Profit appreciates 11% to Rs 196 crores-

Colgate Palmolive India’s second quarter profit grew by 10.6 percent year-on-year to Rs 196.37 crore, driven by good volume growth and operating income. Aggressive efforts in the market have brought about an upswing in the overall growth momentum resulting in a volume growth of 7 percent in Q2. Let us take a look at the key insights of their report-

  • Profit in corresponding period last fiscal stood at Rs 177.57 crore.
  • Revenue from operations during the quarter increased 7.66 percent to Rs 1,168 crore YoY, with volume growth of 7 percent.
  • EBITDA grew by 9.55 percent year-on-year to Rs 329.57 crore and margin expanded 48 basis points to 28.21 percent for quarter ended September 2018 despite rising advertising and other expenses.
  • Advertising expenses during the quarter increased 16.5 percent to Rs 138.94 crore and other expenses rose 14 percent to Rs 211.6 crore YoY, but employees cost fell 7.2 percent to Rs 76.41 crore YoY.
  • Colgate said the company continued its leadership positions in toothpaste and toothbrush categories with a volume market share of 52.5 percent and 44.2 percent in April-September period respectively.

 

 

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

 

Source- MoneyControl, Purple Trades Research Department 

 

Tata Power announced their Q2 results; Profit appreciates 11% to Rs 196 crores-

Tata Power Company has reported a healthy 85.1 percent on year growth in second quarter profit to Rs 393.4 crore due to low base in year-ago period. Let us take a look at the key insights of their report-

  • Profit in the corresponding period last fiscal stood at Rs 213 crore, which was impacted by impairment in respect of other property, plant and equipment and goodwill (Rs 35.63 crore) and damages towards contractual obligations (Rs 113.17 crore).
  • Revenue from operations during the quarter grew by 6.7 percent to Rs 7,332.6 crore compared to same period last year.
  • Tata Power said during the quarter, pursuant to receipt of true-up tariff order from the Regulatory Commission for the years 2014-15, 2015-16 and 2016-17, the company has recognised net income of around Rs 92 crore comprising of a credit of around Rs 274 crore in regulatory income and a charge of around Rs 182 crore to revenue from operations.
  • On the operational front, EBITDA (earnings before interest, tax, depreciation and amortisation) fell 4.5 percent year-on-year to Rs 1,725.9 crore and margin contracted by 280 bps to 23.5 percent for the quarter ended September 2018.
  • The operational numbers were ahead of estimates. A CNBC-TV18 poll of analysts had estimated EBITDA at Rs 1,680 crore and margin at 21.8 percent.

 

 

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

 

Source- MoneyControl, Purple Trades Research Department 

 

 

Volatile Wednesday on Dalal Street as Indian Indices move forward-

Chart source- Upstox

Indian Markets bounced back from the levels of 10,000 as expected. As you can see in the chart given above the markets moved in an amazing manner, making higher highs and lower lows. The expected support of 10,000 mark worked well and investors had a high expectation for the day even before the markets opened as Nifty opened up 150 points higher. As it opened the only time BEARS took charge was the starting of the day when they dragged the Index down to the previous day’s close. But from there-on the markets never really looked back and started moving forward. As predicted by our experts in PURPLE TRADES, the resistance came at 10,200 mark where the market was halted for a brief period of time but that halt also didn’t last long as the BULLS pulled the markets above the 10,200 mark and from there-on the Index went on to touch the 10,250 mark. An extremely strong day of trade come to a close, with the Sensex jumping over 700 points, while the Nifty ended above 10,250-mark. Intense buying among PSU banks, automobiles, infra, IT, metals, and pharmaceuticals boosted the indices. The Nifty Midcap index rose 3 percent. Index heavyweights such as Reliance Industries, ITC, Infosys, and TCS rallied and aided sentiment. At the close of market hours, the Sensex closed up 718.09 points or 2.15% at 34067.40, while the Nifty ended higher by 220.90 points or 2.20% at 10250.90. The market breadth is positive as 1,814 shares advanced, against a decline of 769 shares, while 1,046 shares were unchanged.

Nifty moved upwards as predicted 2 days ago by our experts in Purple Trades. To read the predicted report click below-

 

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

The major Indices of the European Markets, DAX and CAC, were seen in the green. The Asian markets also moved forward as Straits Times and Hang Seng were in the Green but Nikkei was seen in the RED. US market Index NASDAQ was also seen in the red.

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

 

Call Now Button
Scroll Up