The news highlights in the sector include first quarter results of Sun Pharma, Aurobindo Pharma, Cipla, Cadila Healthcare among others. The US pricing pressure looks more structural than a temporary event.
The expansion plans/investments in new areas to reduce dependence on traditional businesses continued. The company is seeing nascent signs of recovery. Should investors put the stock back on their radar?
"Upcoming RBI's monetary policy and ongoing June 2017 quarter earnings will drive the market sentiment this week," said Vijay Singhania, Founder-Director, Trade Smart Online.
Total income grew by 4.80 per cent to Rs 2,389.57 crore during the quarter under review as against Rs 2,279.93 crore in the year-ago period, Exide Industries said in a BSE filing.
Yes Bank reported better than expected earnings for the quarter ended June 30 mostly on all the key parameters and the asset quality has also shown considerable improvement on a quarter-on-quarter basis (QoQ).
The total income of the Reliance Capital's subsidiary for the April-June period of the current fiscal was up marginally at Rs 490 crore as against Rs 485 crore in the year-ago quarter.
"Domestic metal names will report sequential decline in earnings led by lower prices, increased input costs and lower volumes (a few cases of outages). We expect earnings of steel companies to decline sequentially due to lower steel realisation...and use of high cost coal inventory," it said in a report.
PBT for the April-June quarter of last fiscal, 2016-17, was Rs 28 lakh. The total income for the quarter ended June 30, 2017-18, was Rs 82 crore, up 51 per cent. It had revenue of Rs 54 crore in the June quarter of last year, the company said in a statement.
V G Mathew, MD & CEO of the bank, announcing the results, stated that during the first quarter in FY18, the Bank’s operating profit registered a growth of Rs 120 Crores (46.25 per cent) and Profit after Tax registered a growth of Rs 6 Crore (6.74 per cent), driven by strong performance to increase in NII and Other Income, the bank said in a release here.
The overall demand stood at 1,262 tonne in Q1 2016, according to the WGC's latest Gold Demand Trends report.
However, similar to currencies, gold too has seen highs and lows in 2016 with events such as the U.K.'s decision to leave the European Union and US elections. While many analysts have said gold can reach USD 1,300 per ounce this year, the asset class continues to remain under pressure.
Forbes said that government must remove cash withdrawal restrictions at the earliest to give a "psychological boost" to consumers. That, he said, is the single action required from government to spur consumption.
Domestic steel demand remained largely stagnant in Q1 2016-17, with consumption growing by just 0.4 percent year-on-year (y-o-y) during this period, ICRA said in a statement.
"The Consumer Confidence Index score for India in Q3, 2016 has climbed five points to 133 from 128 in the previous quarter to reclaim the top spot on the global index. This is a bounce back to the same levels of optimism seen in Q1, 2016.
According to global deal tracking firm Mergermarket's Q1-Q3 global and regional M&A report, there were 12,283 deals worth USD 2.2 tillion in the January-September period, while in the same period last year there were 13,263 transactions worth USD 2.8 tillion.
While announcing its first quarter earnings, Infosys had slashed its annual sales growth guidance to 10.8-12.3 percent in US dollar terms for 2016-17, down from the previous forecast of 11.8-13.8 percent.
According to a CNBC-TV18 poll, BHEL was expected to post weak June quarter. The company was seen reporting net loss at Rs 15 crore in April-June quarter while revenue was likely to be flat at Rs 4630 crore. Its EBITDA loss in Q1 was expected at Rs 205 crore year-on-year.
Quarterly smartphones shipment data by the International Data Corporation suggests penetration is, at least temporarily, losing steam.
Pipe maker Jindal SAW Friday said its standalone net profit fell by 32 percent to Rs 65.78 crore for the quarter ended June 30, 2016.
Cable manufacturer Shilpi Cable Technologies (SCTL) today reported a 13 per cent increase in net profit to Rs 62.43 crore for the quarter ended June 30 2016.
The letter has resulted in a delay of some of important product launches this year and also necessitated a significant cost towards the remediation efforts, Prasad added.
In Q1 volume growth is seen between 11-12 percent and anything above 10 percent will be considered positive. EBITDA margin expansion of 50 basis points will also be positive.
The two-day Federal Open Market Committee's (FOMC) monetary policy meeting is not expected to make any change in interest rates but may provide hints on timing of its next interest rate hike.
The company's consolidated net profit was down at Rs 5 lakh against Rs 2.8 crore, in the same quarter last fiscal.
Abneesh Roy of Edelweiss Securities expects HUL's EBIDTA margins to expand about 50-60 basis points.