TOP CORPORATE NEWS:- 9 Nov 2017

top corporate news

TOP Headlines Of The Day:- 9 Nov 2017

Hindustan Petroleum Corporation Q2FY18 standalone net profit rises 147.4% yoy: Mixed Estimates
Tata Motors Q2FY18 consolidated net profit rises 195% YoY to Rs.2,501 crore: Beats Estimates
Pidilite Industries up 5% as quarterly results beats estimates
Allahabad Bank raises Rs 600 crores via perpetual bonds
Coffee Day Enterprises Q2FY18 consolidated net profit surges 266.9% yoy
Bajaj Electricals Q2FY18 standalone net profit rises 13.7% yoy: Misses Estimates

Hindustan Petroleum Corporation Q2FY18 standalone net profit rises 147.4% yoy: Mixed Estimates
Hindustan Petroleum Corporation Limited reported standalone results for the quarter came in mixed versus street estimates. Revenue for the quarter came in 0.8 % higher than the estimated figure of Rs. 53879 crore. EBITDA for the quarter came in 13.1 % lower than the estimated figure of Rs. 3345 crore. And lastly, net profit for the quarter came in 11.8 % lower than the estimated figure of Rs. 1967 crore.
Hindustan Petroleum Corporation Limited standalone revenue for the quarter came in at Rs. 54335.8 crores, registering 13.6% yoy increase.
EBITDA for the quarter rose by 126.7% YoY to Rs. 2905.6 crore with a corresponding margin expansion of 267 bps. EBITDA margin for the quarter stood at 5.4%.
The PAT for the quarter came in at Rs. 1734.7 crores yoy increase of 147.4%. This was driven by higher proportion in its revenue growth.

Tata Motors Q2FY18 consolidated net profit rises 195% yoy to Rs.2,501 crore : Beats Estimates
Tata Motors Ltd’s Q2FY18 consolidated results for the quarter registered a beat on street estimates. Revenue for the quarter came in 0.2 % higher than the estimated figure of Rs. 69985 crore. EBITDA for the quarter came in 25.8 % higher than the estimated figure of Rs. 7158 crore. And lastly, net profit for the quarter came in 43.1 % higher than the estimated figure of Rs. 1391 crore. further, for Q2Fy18 company sold 152979 units an
increase of 13.8% yoy increase.
Tata Motors Ltd consolidated revenue for the quarter came in at Rs. 70155 crore, registering 8.5% yoy increase. This was primarily driven by a rise in revenue from Tata motors vehicles and Jaguar & Land rover by 14% and 7.2% yoy respectively.
EBITDA for the quarter rose by 42.8% yoy to Rs. 9008 crore with a corresponding margin expansion of 308 bps. EBITDA margin for the quarter stood at 12.8%.
The PAT for the quarter came in at Rs. 2501 crore, yoy increase of 195%.

Pidilite Industries up 5% as quarterly results beats estimates
The stock is up nearly 5% on account of quarterly results for September, 2017 declared on November 8, 2017 beating the market expectations.
The company’s consolidated revenue for the quarter remained same at Rs.1530 crore. EBITDA for the quarter rose by 17.1% yoy to Rs 376 crore with a corresponding margin expansion of 360 bps.
EBITDA margin for the quarter stood at 24.6%. This margin expansion was aided by 20% yoy dip in purchase of stock in trade. Also, 10% yoy decline in other expenses supported margin expansion.The PAT for the quarter came in at Rs 253 crore, the increase of 9.5% as compared to corresponding quarter of previous year.

Allahabad Bank raises Rs 600 crores via perpetual bonds
The bank, through its filing on BSE, has intimated that it has raised Additional Tier 1 (AT-1) capital of bank amounting to Rs 600 crores on November 8, 2017.
The funds are raised through private placement of AT-1 Perpetual Bonds Series III at an annual coupon of 9.34% p.a., discovered through electronic bidding mechanism of NSE (NSE EBP). This fundraising is compliant with Basel III norms.

Coffee Day Enterprises Q2FY18 consolidated net profit surges 266.9% yoy
Coffee Day Enterprises consolidated revenue for the quarter came in at Rs. 878 crore, registering 21.4% yoy increase. This was primarily driven by ~24% yoy jump in the revenue of coffee business.
EBITDA for the quarter rose by 4.1% yoy to Rs. 136 crore with a corresponding margin contraction of 258 bps. EBITDA margin for the quarter stood at 15.5%. This margin contraction was led by higher cost of material consumed as proportionate to sales (~20.7% in Q2FY18 vs ~22.5% in Q2FY18).
The PAT for the quarter came in at Rs. 59.8 crore, yoy increase of 266.9%. This sharp surge in PAT was led by one time gain of Rs. 53.2 crore.

Bajaj Electricals Q2FY18 standalone net profit rises 13.7% yoy: Misses Estimates
Bajaj Electricals’s Q1FY18 standalone results for the quarter registered a miss versus street estimates. Revenue for the quarter came in 14.3% lower than the estimated figure of Rs. 1088 crore. And lastly, net profit for the quarter came in 5.3% lower than the estimated figure of Rs. 20 crore.
Bajaj Electricals standalone revenue for the quarter came in at Rs. 932 crore, registering 7.4% yoy decline. This was primarily driven by decline in both segment i.e. consumer product (down by ~9.2% yoy) and EPC segment, (down 4% yoy)
EBITDA for the quarter fell by 12.9% yoy to Rs. 39.4 crore with a corresponding margin contraction of 27 bps. EBITDA margin for the quarter stood at 4.2%.
The PAT for the quarter came in at Rs. 18.9 crore, yoy increase of 13.7%. This was due to ~29.7% yoy decline in finance cost and ~37.4% yoy surge in the other income.

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