Sensex, Nifty Swing; Oil Marketers Rally

Indian stocks fluctuated as investors weighed concerns that a plan by major oil producers to cut supply may fan the price of the nation’s biggest import even as the cost of crude declined.

Shares of the pharmaceutical company swung between gains and losses to trade at Rs 791 apiece.

The company entered into an agreement to purchase research and development assets from Australia based Advent Pharma, which deals in complex specialty generics, according to its stock exchange notification. The total investment for this acquisition is pegged at $12.5 million.

Besides, the drumaker announced its quarterly results for the three months ended September.

Key earnings highlights (Q2, YoY):

Revenue up 7.1 percent at Rs 4751.4 crore.
Net profit down 21.7 percent at Rs 611.4 crore.
Ebitda down 8.2 percent at Rs 1026 crore.
Margin at 21.6 percent versus 25.2 percent.
Exceptional loss of Rs 26.8 crore in the current quarter.
Forex loss of Rs 39.7 crore in current quarter.

Market Check: Sensex, Nifty Fluctuate
Indian equity benchmarks fluctuated between gains and losses.
The S&P BSE Sensex Index traded a little changed at 34,803 and the NSE Nifty 50 Index traded at 10,484.
About 890 stocks declined and 708 stocks advanced on National Stock Exchange.

Cipla Swings On Acquisition Plans
Shares of the pharmaceutical company fluctuated between gains and losses to trade at Rs 528.40.

The drugmaker plans to acquire 33 percent stake in Avenue Therapeutics for $35 million at $6 per share, according to its stock exchange notification. Avenue Therapeutics shares currently trade at $4.16 in the U.S.

Oil Marketers Gains As Crude Resumes Decline
Shares of the oil marketing companies rose in today’s trade after the crude oil extended declines. The Brent crude fell 0.86 percent to trade at 69.52 a barrel.

The stocks were the best performers on the Nifty 50 Index.

Opening Bell: Sensex, Nifty Open Lower

Indian equity benchmarks traded lower for the second day, following its Asian counterparts. The S&P BSE Sensex Index fell as much as 0.4 percent to 34,672 and the NSE Nifty 50 Index fell as much as 0.4 percent to 10,440.55.

The market breadth was tilted in favour of sellers. Seven out of 11 sectoral gauges compiled by National Stock Exchange fell, led by the NSE Nifty Auto Index’s 0.87 percent decline. On the flipside, NSE Nifty Pharma Index was the top sectoral gainer, up 0.4 percent.

Earnings Reactions To Watch: Coal India, Eicher Motors, Jet Airways

Coal India (Q2, YoY)

Revenue up 22.3 percent to Rs 22,198.1 crore.
Net Profit at Rs 3,084.7 crore versus Rs 370.4 crore.
Ebitda at Rs 4,716 crore versus Rs 876.1 crore.
Ebitda Margin at 21.3 percent versus 4.8 percent.
Volume at 290.8 MT versus 269 MT.
Also Read: Q2 Results: Coal India Profit Rises Over Eight Times, Meets Estimates

Eicher Motors (Q2, YoY)

Revenue up 11.1 percent at Rs 2,408.2 crore.
Net profit up 5.9 percent at Rs 548.8 crore.
Ebitda up 6.9 percent at Rs 729.4 crore.
Margin at 30.3 percent versus 31.5 percent.
Also Read: Q2 Results: Eicher Motors’ Profit Misses Estimates

Jet Airways (Q2, YoY)

Revenue up 9.5 percent to Rs 6,161 crore.
Ebitdar loss at Rs 346 crore versus Ebitdar profit at Rs 837 crore.
Net loss at Rs 1,297 crore versus net profit at Rs 50 crore.
Revenue includes one-off item of Rs 111 crore.
Also Read: Jet Airways’ Liabilities Surge After Third Consecutive Loss

Aurobindo Pharma (Q2, YoY)

Revenue up 7.1 percent at Rs 4751.4 crore.
Net profit down 21.7 percent at Rs 611.4 crore.
Ebitda down 8.2 percent at Rs 1026 crore.
Margin at 21.6 percent versus 25.2 percent.
Exceptional loss of Rs 26.8 crore in the current quarter.
Forex loss of Rs 39.7 crore in current quarter.

Godrej Industries (Q2, YoY)

Revenue up 14.8 percent at Rs 2624 crore.
Net profit up 72.1 percent at Rs 135.6 crore.
Ebitda down 14.3 percent at Rs 135.8 crore.
Margin at 5.2 percent versus 6.9 percent.
Cost of property development at Rs 327.6 crore versus Rs 222.1 crore.

Bank of India (Q2, YoY)

Net interest income up 0.6 percent at Rs 2,926.8 crore.
Net loss at Rs 1,156.3 crore net profit at Rs 179.1 crore.
Provisions at Rs 2,827.6 crore versus Rs 2259.7 crore (QoQ)
GNPA at 16.36 percent versus 16.66 percent (QoQ)
NNPA at 7.64 percent versus 8.45 percent (QoQ)

UCO Bank (Q2. YoY)

Net interest income up 47.1 percent at Rs 964.6 crore.
Net loss at Rs 1,136.4 crore versus net loss at Rs 622.6 crore.
Provisions at Rs 1,410.9 crore versus Rs 2,038.3 crore. (QoQ)
GNPA at 25.37 percent versus 25.71 percent (QoQ)
NNPA at 11.97 percent versus 12.74 percent (QoQ)

JK Paper (Q2, YoY)

Revenue up 17.2 percent at Rs 785 crore.
Net profit up 93.6 percent at Rs 109.6 crore.
Ebitda up 48.2 percent at Rs 204.7 crore.
Margin at 26.1 percent versus 20.6 percent.

Nalco (Q2, YoY)

Revenue up 23.9 percent at Rs 3,040.9 crore.
Net profit up 117.4 percent at Rs 510 crore.
Ebitda up 153.7 percent at Rs 850.9 crore.
Margin at 28 percent versus 13.7 percent.

Oil India (Q2, QoQ)

Revenue up 10.4 percent at Rs 3,743.6 crore.
Net profit up 22.6 percent at Rs 862 crore.
Ebitda up 4.7 percent at Rs 1,474.7 crore.
Margin at 39.4 percent versus 41.5 percent.
Other income at Rs 287.8 crore versus Rs 126.8 crore.

Brigade Enterprises (Q2, YoY)

Revenue up 70.4 percent at Rs 825.9 crore.
Net profit up 67 percent at Rs 68.3 crore.
Ebitda up 63 percent at Rs 218.8 crore.
Margin at 26.5 percent versus 27.7 percent.

Apex Frozen Foods (Q2, YoY)

Revenue down 10.4 percent at Rs 255.5 crore.
Net profit down 10 percent at Rs 19.8 crore.
Ebitda down 19.4 percent at Rs 24.9 crore.
Margin at 9.7 percent versus 10.8 percent.

Jindal Saw (Q2, YoY)

Revenue up 76.9 percent at Rs 2,337.2 crore.
Net profit up 69.2 percent at Rs 101.7 crore.
Ebitda up 35.6 percent at Rs 299 crore.
Margin at 12.8 percent versus 16.7 percent.

Quick Heal Technologies (Q2, YoY)

Revenue up 4.2 percent at Rs 108.9 crore.
Net profit down 4 percent at Rs 37.7 crore.
Ebitda flat at Rs 60.3 crore.
Margin at 55.4 percent versus 57.6 percent.
Exceptional Loss of Rs 5 crore this quarter.

Jain Irrigation Systems (Q2, YoY)

Revenue up 20 percent at Rs 1,895 crore.
Net profit up 99 percent at Rs 21.2 crore.
Ebitda up 23 percent at Rs 215 crore.
Margin at 11.4 percent versus 11.1 percent.
Rise in profits from associate companies aided bottomline.

Hathway Cable (Q2, YoY)

Revenue flat at Rs 130.6 crore.
Net loss of Rs 5.9 crore versus net profit of Rs 14 crore.
Ebitda flat at Rs 53.8 crore.
Margins at 41.2 percent versus 41.1 percent.
Higher foreign exchange loss and interest cost impacted bottomline.