UltraTech Cement's standalone profit after tax is expected to fall 12 percent year-on-year to Rs 549 crore in the quarter ended June, according to a CNBC-TV18 poll. Higher interest and depreciation cost associated with acquisition of Jaiprakash Associates’ Gujarat plants may impact the bottomline. The company will announce its earnings on July 20. Total income from operations is seen rising 7 percent to Rs 6,088 crore in the first quarter of financial year 2015-16 from Rs 5,692 crore in the year-ago period led by capacity growth. Total volumes are expected to inch up nearly 3 percent to 12.3 million tonnes, supported by new capacity addition and acquired assets. Operating profit may increase by 1 percent year-on-year to Rs 1,062 crore but margin may decline 110 basis points to 17.4 percent in the quarter gone by. Analysts feel weak pricing environment and lower international coal prices (against higher railway freight costs) may impact operating profit margin.
Anand Kumar of Bank of America Merrill Lynch said benign crude prices would be a positive for India. He thinks a further decline could lead to a small rally in the Indian equity markets despite the near-term concerns of earnings and valuations. Lower crude prices on the back of this higher supply should help Indian economy as it helps in managing the twin deficit as well as inflation and strengthens the case for rate cuts, he believes. According to him, key beneficiaries of lower crude prices will be HPCL, Asian Paints, Jubilant, SBI, ICICI Bank, Adani Ports.
The market has opened marginally higher in early trade Monday led by private banks, auto and pharma stocks. However, it immediately erased gains to trade with losses. The Sensex declined 83.37 points to 28379.94 and the Nifty fell 34.40 points to 8575.45. About 495 shares have advanced, 159 shares declined, and 75 shares are unchanged on the BSE. Cipla, Hero Motocorp, Bajaj Auto, HDFC Bank, BPCL, NMDC and Idea Cellular gained 0.5-1 percent while ACC, UltraTechCement, Tata Power, Ambuja Cements and HDFC lost 1-3 percent. Analysts suggest that in the near term, equities will take cues from the ongoing earnings season as well as the monsoon Parliament, which opens tomorrow. The Indian rupee has opened with a marginal loss of 8 paise at 63.55 per dollar today against Friday's closing value of 63.47 a dollar. Agam Gupta of Standard Chartered said, "We expect local government banks to provide a floor to the pair as they buy dollars around 63.45 levels." "We expect the USD-INR pair to trade in the range of 63.40-63.60/dollar for the day," he added. Asian markets are moving broadly higher, though Japan and Indonesia are closed for public holidays. Dollar hit a three-month high against a basket of major currencies after solid US inflation and housing data supported expectations for the Federal Reserve to raise interest rates in coming months.
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Anand Kumar of Bank of America Merrill Lynch said benign crude prices would be a positive for India. He thinks a further decline could lead to a small rally in the Indian equity markets despite the near-term concerns of earnings and valuations. Lower crude prices on the back of this higher supply should help Indian economy as it helps in managing the twin deficit as well as inflation and strengthens the case for rate cuts, he believes. According to him, key beneficiaries of lower crude prices will be HPCL, Asian Paints, Jubilant, SBI, ICICI Bank, Adani Ports.
The market has opened marginally higher in early trade Monday led by private banks, auto and pharma stocks. However, it immediately erased gains to trade with losses. The Sensex declined 83.37 points to 28379.94 and the Nifty fell 34.40 points to 8575.45. About 495 shares have advanced, 159 shares declined, and 75 shares are unchanged on the BSE. Cipla, Hero Motocorp, Bajaj Auto, HDFC Bank, BPCL, NMDC and Idea Cellular gained 0.5-1 percent while ACC, UltraTechCement, Tata Power, Ambuja Cements and HDFC lost 1-3 percent. Analysts suggest that in the near term, equities will take cues from the ongoing earnings season as well as the monsoon Parliament, which opens tomorrow. The Indian rupee has opened with a marginal loss of 8 paise at 63.55 per dollar today against Friday's closing value of 63.47 a dollar. Agam Gupta of Standard Chartered said, "We expect local government banks to provide a floor to the pair as they buy dollars around 63.45 levels." "We expect the USD-INR pair to trade in the range of 63.40-63.60/dollar for the day," he added. Asian markets are moving broadly higher, though Japan and Indonesia are closed for public holidays. Dollar hit a three-month high against a basket of major currencies after solid US inflation and housing data supported expectations for the Federal Reserve to raise interest rates in coming months.
For More Detail Visit -- http://www.allianceresearch.in/
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