 "Reliance Industries, TCS, HDFC, HDFC Bank, Adani Ports hit new high")
Reliance Industries (RIL), Tata Consultancy Services (TCS), Housing Development Finance Corporation (HDFC), HDFC Bank and Adani Ports and Special Economic Zone from the S&P BSE Sensex have hit their respective new high on BSE in intra-day trade today.
The benchmark Sensex touched a record high of 35,701 on BSE in early morning today, was up 0.37% at 35,644 at 12:36 PM.
APL Apollo Tubes, Biocon, Coffee Day Enterprises, DCM Shriram, Delta Corp, Godrej Consumer Products, Godrej Properties and Jubilant FoodWorks are among 20 stocks from the S&P BSE500 index touching their respective record highs today.
RIL, the largest gainer among the Sensex, was up 5% to Rs 975 after the company reported a 25% rise in a consolidated net profit at Rs 94.23 billion for the October-December 2017 quarter (Q3FY18) with higher profitability in petrochemicals and its telecom venture Jio. The company had profit of Rs 75.33 billion during the quarter ended December 2016.
TCS hit a new high of Rs 3,022, up 2%, gaining 14% in past one month. The market capitalisation of the IT major touched a record high of Rs 5.76 trillion. The stock today turned ex-interim dividend for Rs 7 per share.
Cyient, NIIT Technologies and MphasiS are others from the information technology (IT) sector too hit new highs today.
According to analysts at JP Morgan IT services spending is likely to cyclically firm up/strengthen in 2018. Except for telecommunications and some parts of traditional US retail, we sense growing client confidence across industries spanning BFSI (banking, financial services and insurance), manufacturing, consumer goods, logistics and utilities – even in energy with rising oil prices likely to spur capex in this sector.
For India IT to benefit more solidly and sustainably from rising spending in new areas beyond the anticipated cyclical pick-up in FY19, the industrialization of digital theme (of digital projects getting consistently larger to incorporate fuller system integration programs) must hit an inflection point, in our view. Moderate valuations, prospects of gently greater growth (say, 2-3% points higher in FY19) in the wake of synchronized stronger global growth coupled with potential INR depreciation may well see India IT become a counter-consensus sector pick for 2018, the foreign brokerage said in latest report.
HDFC Bank gained 2% to Rs 1,986, extending its past week’s 5% gain on BSE. The private sector lender reported 20% growth in net profit at Rs 46.4 billion in Q3FY18 over the previous year quarter, backed by rise in interest and fee income.
Jubilant FoodWorks rallies 7.5% to Rs 2,247, extending its Friday’s 8% surge, after reported a healthy SSS growth at 17.8% in Q3FY18 driven largely by order growth across existing as well as new customers.
Everyday value” has helped drive consumption across day parts as it provides a regular value pricing while reducing the need to give discounts. The company expects value to be a big driver of growth. The company expects reduction in Goods and Services Tax (GST) rate from 18% to 5% to benefit the industry as the tax hurdle for customer upgrade reduces.
The benchmark Sensex touched a record high of 35,701 on BSE in early morning today, was up 0.37% at 35,644 at 12:36 PM.
APL Apollo Tubes, Biocon, Coffee Day Enterprises, DCM Shriram, Delta Corp, Godrej Consumer Products, Godrej Properties and Jubilant FoodWorks are among 20 stocks from the S&P BSE500 index touching their respective record highs today.
RIL, the largest gainer among the Sensex, was up 5% to Rs 975 after the company reported a 25% rise in a consolidated net profit at Rs 94.23 billion for the October-December 2017 quarter (Q3FY18) with higher profitability in petrochemicals and its telecom venture Jio. The company had profit of Rs 75.33 billion during the quarter ended December 2016.
TCS hit a new high of Rs 3,022, up 2%, gaining 14% in past one month. The market capitalisation of the IT major touched a record high of Rs 5.76 trillion. The stock today turned ex-interim dividend for Rs 7 per share.
Cyient, NIIT Technologies and MphasiS are others from the information technology (IT) sector too hit new highs today.
According to analysts at JP Morgan IT services spending is likely to cyclically firm up/strengthen in 2018. Except for telecommunications and some parts of traditional US retail, we sense growing client confidence across industries spanning BFSI (banking, financial services and insurance), manufacturing, consumer goods, logistics and utilities – even in energy with rising oil prices likely to spur capex in this sector.
For India IT to benefit more solidly and sustainably from rising spending in new areas beyond the anticipated cyclical pick-up in FY19, the industrialization of digital theme (of digital projects getting consistently larger to incorporate fuller system integration programs) must hit an inflection point, in our view. Moderate valuations, prospects of gently greater growth (say, 2-3% points higher in FY19) in the wake of synchronized stronger global growth coupled with potential INR depreciation may well see India IT become a counter-consensus sector pick for 2018, the foreign brokerage said in latest report.
HDFC Bank gained 2% to Rs 1,986, extending its past week’s 5% gain on BSE. The private sector lender reported 20% growth in net profit at Rs 46.4 billion in Q3FY18 over the previous year quarter, backed by rise in interest and fee income.
Jubilant FoodWorks rallies 7.5% to Rs 2,247, extending its Friday’s 8% surge, after reported a healthy SSS growth at 17.8% in Q3FY18 driven largely by order growth across existing as well as new customers.
Everyday value” has helped drive consumption across day parts as it provides a regular value pricing while reducing the need to give discounts. The company expects value to be a big driver of growth. The company expects reduction in Goods and Services Tax (GST) rate from 18% to 5% to benefit the industry as the tax hurdle for customer upgrade reduces.
“We expect price increase post GST and lower discounting (competitive pressures reduced) to aid SSS growth, going forward. Further continued benefits from cost-saving initiatives along with reduction in losses at Dunkin format (expected to halve in FY18 to c100bps and breakeven by end-FY19) should aid margin expansion,” analysts at IIFL Institutional Equities said in earnings upgrade. The brokerage house maintains ‘buy’ rating on stock with target price of Rs 2,500.
| COMPANY | LATEST | ALL TIME HIGH | PREV HIGH | PREV DATE |
| ADANI PORTS | 436.90 | 443.35 | 443.35 | 06-Nov-17 |
| APL APOLLO | 2517.65 | 2550.00 | 2540.00 | 19-Jan-18 |
| BIOCON | 577.40 | 578.75 | 575.30 | 19-Jan-18 |
| COFFEE DAY ENTER | 365.30 | 374.60 | 372.00 | 11-Jan-18 |
| CYIENT | 640.00 | 683.00 | 675.00 | 19-Jan-18 |
| DCM SHRIRAM | 605.00 | 628.05 | 626.90 | 19-Dec-17 |
| DELTA CORP | 348.45 | 348.85 | 343.50 | 16-Jan-18 |
| GODREJ CONSUMER | 1091.95 | 1094.50 | 1083.65 | 27-Jul-17 |
| GODREJ PROPERT. | 862.45 | 868.90 | 858.00 | 11-Jan-18 |
| H D F C | 1874.80 | 1924.70 | 1917.00 | 18-Jan-18 |
| HDFC BANK | 1971.00 | 1986.00 | 1959.80 | 19-Jan-18 |
| INFO EDG.(INDIA) | 1410.10 | 1457.50 | 1439.00 | 02-Jan-18 |
| JUBILANT FOOD. | 2244.00 | 2246.95 | 2114.65 | 19-Jan-18 |
| MPHASIS | 800.50 | 814.10 | 810.00 | 18-Jan-18 |
| NIIT TECH. | 756.15 | 764.05 | 736.00 | 11-Jan-18 |
| RADICO KHAITAN | 383.25 | 403.85 | 368.60 | 19-Jan-18 |
| RELIANCE INDS. | 970.15 | 974.50 | 959.00 | 24-Nov-17 |
| SUPREME INDS. | 1436.75 | 1489.95 | 1470.00 | 19-Jan-18 |
| TCS | 3012.00 | 3022.00 | 2979.00 | 19-Jan-18 |
| WABCO INDIA | 7800.00 | 7869.95 | 7860.00 | 19-Jan-18 |
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