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TVS Motor and RBL Bank Q2 results, Indian Markets plunge on several Global cues …. Market updates for 23/10/18

PurpleTrades - stock market courses > News > TVS Motor and RBL Bank Q2 results, Indian Markets plunge on several Global cues …. Market updates for 23/10/18

Report by- Sabyasachi Bhattacharya

 

TVS Motor announced their Q2 results; Profit falls 0.9% at Rs 211.3 crores-

TVS Motor, India’s one of the largest two-wheeler producer, on Tuesday reported a fall of 0.9 percent (year-on-year) in its net profit for the September quarter at Rs 211.31 crore. The company had reported a profit of Rs 216.16 crore during the same quarter of last year. Let us take a look at the key insights from their report-

  • Its revenue rose to Rs 4,993.4 crore for the quarter under review, a rise of 23 percent from the revenue of Rs 4,064.72 crore for the corresponding quarter of FY18.
  • At an operating level, the earnings before interest, taxes, depreciation and amortization (EBITDA), is reported at Rs 428 crore, a rise of 18 percent from its previous EBITDA of Rs 362.6 crore.
  • But the operating margin was marginally lower on a y-o-y basis at 6 percent against 8.9 percent last year.
  • The Board also recommended an interim dividend of Rs 2.10 per share.

 

Segment-wise sales

Two-wheeler sales, including exports grew by 13.6% to 10.49 lakh units from 9.23 Lakh units

Motorcycle sales grew by 14.9% to 4.20 Lakh units from 3.65 lakh units

Scooter sales grew by 18.2% to 3.88 lakh units in the quarter ended September 2018 from 3.28 lakh units

Total three wheelers sales grew by 57.4% to 0.40 lakh units from 0.25 lakh units in the quarter ended September 2017.

Source- MoneyControl, Purple Trades Research Department       

 

 

RBL Bank announced their Q2 results; Profit jumps 36% as asset quality stabilizes-

Private sector lender RBL Bank has reported healthy 35.80 percent on year growth in second quarter profit to Rs 204.54 crore, driven by all parameters with stable asset quality. However, higher provisions year-on-year limited profitability. RBL Bank has been a key contender amongst major private sector banks due to its easily available loans and several different services to the common public. Let us take a look at the key insights in their reporting-

  • Net interest income during the quarter shot up 13 percent to Rs 592.97 crore with a whopping loan growth of 36.6 percent and 34 bps improvement in net interest margin YoY.
  • The bank said net advanced increased to Rs 45,872.66 crore in Q2FY19 against Rs 33,576.01 crore in Q2FY18 and deposits grew by 30.68 percent to Rs 47,790.09 crore YoY.
  • Net interest margin improved to 08 percent during the quarter, against 3.74 percent at the end of corresponding period last year.
  • RBL has registered a healthy 18 percent on year growth in other income (non-interest income) to Rs 333.11 crore and operating profit grew by 48.13 percent to Rs 449 crore compared to year-ago. Core fee income was up by 60 percent to Rs 325.24 crore YoY.
  • Asset quality remained stable as gross non-performing assets (NPA) was flat at 4 percent and net NPA was lower at 0.74 percent against 0.75 percent on quarter-on-quarter basis.
  • Provisions and contingencies declined 0.5 percent sequentially to Rs 139.68 crore in Q2FY19, but increased sharply by 86.51 percent YoY.
  • The bank said slippages at the end of September quarter stood at Rs 142 crore, which were lower compared to Rs 148 crore in June quarter. “Write-offs for the quarter were at Rs 65 crore against Rs 61 crore and recoveries were lower at Rs 27 crore against Rs 57 crore QoQ.

 

Take a look at the company’s report, released today-

 

Source- MoneyControl, Purple Trades Research Department       

 

 

Volatile Monday on Dalal Street as Indian Indices move upwards-

Chart source- Upstox

Indian Markets saw a major downtrend throughout the day. Nifty as you can see in the chart above had a Gap-Down opening after which it tried to recover but couldn’t break the resistance provided by the yesterday’s close. From there-on it fell heavily throughout the morning and the lunch session. In the end hours of the market, Nifty consolidated for a brief period where it tested the resistance provided by the lower Purple Line. After it tested that line twice it tried to go up but couldn’t breach the resistance provided by the today’s open. It fell again and tested the lower Purple Line but couldn’t breach it. That supportive line is the 10,100 mark. Nifty again bounced back from that support to move upwards and finally closing above today’s open, a fall in crude prices, which slipped to around USD 79 per barrel is likely to have impacted the movement, but even if it closed above today’s open Nifty still lost about 98 points due to the major Gap-Down opening. At the close of market hours, the Sensex ended lower by 287.15 points or 0.84% at 33847.23, while the Nifty closed down 98.50 points or 0.96% at 10146.80. The market breadth is negative as 822 shares advanced, against a decline of 1,747 shares, while 1,013 shares were unchanged. All the major Global Indices were seen in the red except NASDAQ and SGX Nifty. European markets as well as the Asian Markets were bleeding throughout the day. Today’s day was completely ruled by the bears in all the market segments all across the world.

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

Let us take a look at the factors that might have triggered such a bearish move in the markets-

  • Gold is up by 12.40 points (+1.01%) in today’s market which is showing that more and more investors are taking their money out of the falling markets and moving to save investment options.
  • Brent Crude Oil was seen touching 80$ per barrel in today’s market which must have triggered such a bearish behavior throughout the day but in the end Brent Crude Oil started falling and closed in the red due to which Indian Markets recovered in the last 1 hour of the trading session.
  • Sell-off in US markets along with Asian markets weighed on indices in India. The Nikkei shed over 604 points in trade amid geopolitical fears in Italy along with concerns on interest rate scenario as well as worries in Chinese economy had an adverse impact on US markets.
  • India VIX(Volatility Index) was seen trading at high of 22.34 which was keeping bulls at bay but yet again VIX dropped at the end of the day which was seen as a relief for the bulls and a little recovery was seen by them in the last trading hour of the day.

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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