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Q2 results of Gail India and Saregama India, Indian Markets remained flat amidst high volatility…. Market updates for 06/11/18

PurpleTrades - stock market courses > News > Q2 results of Gail India and Saregama India, Indian Markets remained flat amidst high volatility…. Market updates for 06/11/18

Report by- Sabyasachi Bhattacharya

 

Gail India announced their Q2 results; Profit surges 55% to Rs 1,963 crores-

Gail India has reported 55.8 percent jump in its QoQ net profit at Rs 1,963 crore on the back of better operating performance. Let us take a look at the key insights of their report-

  • The company had reported net profit at Rs 1259.25 crore in the quarter ended June 2018.
  • Revenue of the company was up 11.4 percent at Rs 19,275 crore against Rs 17,299 crore.
  • Operating profit or EBITDA of the company rose 29 percent at Rs 2,928 crore versus Rs 2,270, while margin was up 790 bps at 15.2 percent versus 7.3 percent.
  • Tax expenses were up at Rs 934 crore vs Rs 681, QoQ.
  • The natural gas EBIT was up 27.3 percent at Rs 894 crore, while revenue was up 16.7 percent at Rs 1,531 crore.
  • The natural gas marketing revenue rose 11.5 percent at Rs 15,652 crore, while EBIT was up 89.5 percent at Rs 1,045 crore.

Source- MoneyControl, Purple Trades Research Department   

 

Saregama India announced their Q2 results; Profit jumps to a whopping 233%-

Saregama’s year-on-year (YoY) net profit jumped by 233 percent to Rs 1.5 crore in the second quarter, mostly driven by a 40 percent increase in the sales of Carvaan, the portable digital audio player. Let us take a look at the key insights of their report-

  • The company’s revenues were up 64 percent to Rs 13.84 crore.  The growth story of Saregama is driven by the domination of Carvaan, with 2.29 lakh units sold in the second quarter of 2018-19. Also, the new premium variant of Carvaan,  Carvaan Gold and Mini 2.0, were launched in the quarter.
  • Building on the success, Saregama is investing heavily in consumer research and technology in order to come up with customer friendly products.
  • The first product from this partnership, Carvaan Gold, has been launched in time for the festival season. Carvaan Gold is designed using Harman Kardon sound technology and speakers. It comes in a hi-end metallic body, and is available in exclusive champagne gold and rose gold colours. The product also comes with a companion app that allows users to create their own playlist or select their favourite song on Carvaan.
  • Additionally, according to the Q2 results, Saregama has also seen a 28 percent increase of its B2B licensing business.
  • “We have been consistent in our upward surge in revenue and profits quarter on quarter, and we expect this trend to continue. We expect all our business verticals namely digital music licensing, Carvaan, Yoodle films and TV production business to grow steadily and profitably over the next few years,” said Mehra.

Source- MoneyControl, Purple Trades Research Department     

 

 

Bosch announced their Q2 results; Profit jumps to a 19% to Rs 420 crores-

Bosch reported a surge of 19 percent (year on year) in its net profit for September quarter at Rs 420 crore against Rs 353 crore. Let us take a look at their report-

  • The revenue rose 14 percent at Rs 3,201 crore against Rs 2,812 crore year on year.
  • At an operating level, the earnings before interest, taxes, depreciation and amortization rose 17 percent at Rs 596.2 crore against Rs 508 crore year on year. The operating margin has been reported at 18.6 percent against 18.1 percent last year.
  • The company also approved a share buyback of up to 10.28 lakh shares at Rs 21,000 apiece. The buyback will take place through a tender offer.
  • At 14:02 hrs Bosch was quoting at Rs 19,485.25, down Rs 140.40, or 0.72 percent, on the BSE. It touched an intraday high of Rs 19,979.00 and an intraday low of Rs 19,311.40.
  • The company saw a surge of 19 percent (year on year) in its net profit for September quarter at Rs 420 crore against Rs 353 crore.

Source- MoneyControl, Purple Trades Research Department     

 

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

Chart source- Upstox

Indian markets had a range-bound day as NSE index Nifty closed by making a spinning top on daily charts. As you can see on the chart given above Nifty opened up with a GAP-UP and then during the lunch hours fell below yesterday’s close. Durig the mid hours there wasn’t really much volatility in the market although in the morning as well as the afternoon session there was high volatility seen. Even Bank Nifty fell heavily amidst selling pressure in the last few hours of the day. It was a flat end to the session on Tuesday, with the Nifty holding 10,500-mark. Among sectors, automobiles, banks, consumption and PSU banks took a big hit, while energy, IT and infrastructure names gained the most. In the broader market, the Nifty Midcap index ended down over half a percent. At the close of market hours, the Sensex closed up 40.99 points or 0.12% at 34991.91, while the Nifty ended higher by 6.00 points or 0.06% at 10530.00. The market breadth was negative as 1,264 shares advanced, against a decline of 1,278 shares, while 153 shares were unchanged. Yes Bank, TCS, and Zee Entertainment were the top gainers, while Vedanta, SBI, and Cipla lost the most.

 

Our experts at PURPLE TRADES  predicted on Monday that the market would have a hard time breaching 10,600 and might fall which it did throughout the day. 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 Asian Markets ended up in the GREEN. Heavy selling was seen across all the global markets including US markets and European markets.

 

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

 

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