Kotak Mahindra Bank, Dabur India, Indiabulls Ventures hit new highs
Jubilant FoodWorks, Nestle India, Pidilite Industries and Exide Industries were among 23 stocks from the S&P BSE500 index hitting new highs on the BSE on Wednesday.
 "Kotak Mahindra Bank, Dabur India, Indiabulls Ventures hit new highs")
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Kotak Mahindra Bank, Dabur India, Indiabulls Venture, Jubilant FoodWorks, Nestle India, Pidilite Industries and Exide Industries were among 23 stocks from the S&P BSE500 index hitting new highs on the BSE on Wednesday.
Britannia Industries, Cyient, Escorts, Hexaware Technologies, KPIT Technologies, Mahindra & Mahindra (M&M), M&M Financial Services, Mindtree and Tata Chemicals too hit all-time highs in intra-day trade today.
Kotak Mahindra Bank has surged 6% to Rs 1,288 after the private sector lender reported 27% rise in its consolidated net profit at Rs 17.89 billion for the quarter ended March 2018 (Q4FY18), on healthy growth in advances and higher base of low cost deposits. The bank had profit of Rs 14.04 billion in the year ago quarter.
At the standalone level, the bank reported a 15% rise in its net profit to Rs 11.24 billion, against Rs 9.76 billion in the year ago quarter.
Asset quality improved sequentially as well as on year on year (YoY) basis while coverage ratio improved with credit cost lower than guidance levels.
Gross non-performing assets (GNPA) as a percentage of total advances on a consolidated basis moderated to 1.95% for the quarter, against 2.01% in the December 2017 quarter and 2.25% a year ago. Net NPA stood at 0.86% for the present quarter, down 8 basis points sequentially and 23 basis points YoY.
Dabur India too hit a new high of Rs 382, up 3% on the BSE, after the company reported a good set of numbers for Q4FY18.
The board has also recommended dividend of Rs 6.25 per equity share having face value of Re 1 each (i.e. 625%) which includes final dividend of Re 1.25 per equity share (i.e. 125%) for the financial year 2017-18 and a special dividend of Rs 5/- per equity share (i.e. 500%) to mark the Silver Jubilee year of listing of Dabur India's share in financial year 1993-94.
The fast moving consumer goods (FMCG) reported 18.9% YoY rise in its consolidated net profit at Rs 3.96 billion in Q4FY18.
The consolidated revenue grew 11.1% at Rs 20.33 billion over the previous year quarter. Operating margins improved from 21.8% in Q4FY17 to 23.9% in Q4FY18.
“India operating margin touching a historical high of 27.2% on the back of improved operating efficiencies and judicious cost management. Despite growing competitive intensity, the India business posted a healthy volume growth and continues to outperform the market in key business categories,” Dabur India Chief Executive Officer Sunil Duggal said.
Indiabulls Ventures hit a new high of Rs 513, up 6% on the BSE, extending its 99% surged in the month of April. The board of directors of Indiabulls Ventures is scheduled to meet on Friday, May 4, 2018, to consider and approve the preferential issue of equity shares of the Company, to certain foreign investor(s).
In April 2017, Indiabulls Ventures had raised Rs 44.88 billion by issuing 47.3 million equity shares to Singapore-based Tamarind Capital Pte at an issue price of Rs 94.70 per share to augment the long-term resources of the company for meeting funding requirements for its business purposes.
Disclaimer - Kotak Mahindra and associates are significant shareholders in Business Standard Pvt Ltd
Britannia Industries, Cyient, Escorts, Hexaware Technologies, KPIT Technologies, Mahindra & Mahindra (M&M), M&M Financial Services, Mindtree and Tata Chemicals too hit all-time highs in intra-day trade today.
Kotak Mahindra Bank has surged 6% to Rs 1,288 after the private sector lender reported 27% rise in its consolidated net profit at Rs 17.89 billion for the quarter ended March 2018 (Q4FY18), on healthy growth in advances and higher base of low cost deposits. The bank had profit of Rs 14.04 billion in the year ago quarter.
At the standalone level, the bank reported a 15% rise in its net profit to Rs 11.24 billion, against Rs 9.76 billion in the year ago quarter.
Asset quality improved sequentially as well as on year on year (YoY) basis while coverage ratio improved with credit cost lower than guidance levels.
Gross non-performing assets (GNPA) as a percentage of total advances on a consolidated basis moderated to 1.95% for the quarter, against 2.01% in the December 2017 quarter and 2.25% a year ago. Net NPA stood at 0.86% for the present quarter, down 8 basis points sequentially and 23 basis points YoY.
Dabur India too hit a new high of Rs 382, up 3% on the BSE, after the company reported a good set of numbers for Q4FY18.
The board has also recommended dividend of Rs 6.25 per equity share having face value of Re 1 each (i.e. 625%) which includes final dividend of Re 1.25 per equity share (i.e. 125%) for the financial year 2017-18 and a special dividend of Rs 5/- per equity share (i.e. 500%) to mark the Silver Jubilee year of listing of Dabur India's share in financial year 1993-94.
The fast moving consumer goods (FMCG) reported 18.9% YoY rise in its consolidated net profit at Rs 3.96 billion in Q4FY18.
The consolidated revenue grew 11.1% at Rs 20.33 billion over the previous year quarter. Operating margins improved from 21.8% in Q4FY17 to 23.9% in Q4FY18.
“India operating margin touching a historical high of 27.2% on the back of improved operating efficiencies and judicious cost management. Despite growing competitive intensity, the India business posted a healthy volume growth and continues to outperform the market in key business categories,” Dabur India Chief Executive Officer Sunil Duggal said.
Indiabulls Ventures hit a new high of Rs 513, up 6% on the BSE, extending its 99% surged in the month of April. The board of directors of Indiabulls Ventures is scheduled to meet on Friday, May 4, 2018, to consider and approve the preferential issue of equity shares of the Company, to certain foreign investor(s).
In April 2017, Indiabulls Ventures had raised Rs 44.88 billion by issuing 47.3 million equity shares to Singapore-based Tamarind Capital Pte at an issue price of Rs 94.70 per share to augment the long-term resources of the company for meeting funding requirements for its business purposes.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| BERGER PAINTS | 280.70 | 287.85 | 287.30 | 30-Apr-18 |
| BOMBAY DYEING | 309.15 | 317.45 | 316.30 | 30-Apr-18 |
| BRITANNIA INDS. | 5533.75 | 5560.35 | 5534.95 | 30-Apr-18 |
| CYIENT | 805.80 | 826.25 | 779.45 | 26-Apr-18 |
| DABUR INDIA | 376.80 | 382.30 | 371.70 | 30-Apr-18 |
| ESCORTS | 997.00 | 1018.50 | 1006.50 | 30-Apr-18 |
| EXIDE INDS. | 251.10 | 252.75 | 251.90 | 30-Apr-18 |
| HEXAWARE TECH. | 456.10 | 457.30 | 450.35 | 30-Apr-18 |
| INDIABULLS VENT. | 513.40 | 514.60 | 489.80 | 30-Apr-18 |
| JAMNA AUTO INDS. | 101.50 | 103.20 | 99.90 | 25-Apr-18 |
| JUBILANT FOOD. | 2579.00 | 2594.70 | 2566.40 | 27-Apr-18 |
| KOTAK MAH. BANK | 1277.70 | 1287.75 | 1218.30 | 30-Apr-18 |
| KPIT TECH. | 255.10 | 259.85 | 259.80 | 30-Apr-18 |
| LAK. MACH. WORKS | 8799.95 | 8900.00 | 8500.00 | 30-Apr-18 |
| M & M | 870.15 | 880.00 | 878.40 | 30-Apr-18 |
| M & M FIN. SERV. | 521.80 | 537.50 | 533.70 | 30-Apr-18 |
| MARICO | 345.10 | 348.00 | 347.80 | 13-Sep-17 |
| MINDTREE | 1060.00 | 1102.00 | 1097.95 | 30-Apr-18 |
| NESTLE INDIA | 9330.95 | 9490.00 | 9447.50 | 30-Apr-18 |
| PIDILITE INDS. | 1107.90 | 1110.00 | 1099.00 | 27-Apr-18 |
| RAYMOND | 1134.50 | 1151.70 | 1149.15 | 25-Apr-18 |
| TATA CHEMICALS | 778.60 | 783.95 | 781.20 | 11-Jan-18 |
| TCS | 3501.90 | 3560.00 | 3560.00 | 26-Apr-18 |
| ZENSAR TECH. | 1305.15 | 1323.60 | 1309.95 | 30-Apr-18 |
Disclaimer - Kotak Mahindra and associates are significant shareholders in Business Standard Pvt Ltd
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