The Bombay Stock Exchange Building at Dalal Street, Mumbai. (Photographer: Anirudh Saligrama/BloombergQuint)

Sensex, Nifty End At Record; HDFC AMC Jumps 65% On Debut

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Closing Bell: Sensex, Nifty End At Fresh Record Closing Highs

Indian equity benchmarks closed at a record high. The S&P BSE Sensex Index closed 0.36 percent higher at 37,691.89 and the NSE Nifty 50 Index closed at 11,387.10, up 0.2 percent.

The market breadth was tilted in favour of buyers. Seven out of 11 sectoral gauges compiled by NSE advanced, led by NSE Nifty PSU Bank Index's 2.6 percent gain. On the flipside, NSE Nifty Pharma Index was the top sectoral loser, down 0.97 percent.

Sensex, Nifty End At Record; HDFC AMC Jumps 65% On Debut

VIP Industries Says On Track To Beat FY19 Forecast

VIP Industries expects to exceed its earlier revenue forecast for the current financial year, its Chairman Dilip G Piramal told BloombergQuint in an interaction.

Key highlights from the conversation:

  • All four flagship brands did well.
  • The only disappointment would be our export market in June quarter.
  • Don't expect a further decline in margins.
  • Did not hike prices as we were expecting volume growth.
  • Could take price hikes in October.
  • Market share should be close to 52-53 percent.
  • Expect to exceed earlier 2018-19 revenue guidance.

HUL Inks Pact With Vijaykant Diary To Acquire Adityaa Milk Ice Cream Business

Hindustan Unilever Ltd. (HUL) today, entered into an agreement with Vijaykant Diary to acquire Adityaa Milk ice cream business, according to its media statement on the exchanges.

“Ice creams and frozen desserts is an exciting category and we see great potential for growth. We believe this acquisition will complement our existing portfolio of Kwality Wall's,” HUL’s Chairman and Managing Director Sanjiv Mehta said.

India Will Be Less Volatile Compared To Peers, Says Macquarie's Viktor Shvets

India has a lot of trapped liquidity, which will make it less volatile, compared to its emerging markets peers, said Viktor Shvets of Macquarie Group. He expects India to continue doing well over next three-to-four months.

Key highlights from Shvets interaction on BloombergQuint:

  • Domestic liquidity is driving Indian markets.
  • Good companies in India are very expensive.
  • Trapped liquidity will make India less volatile.
  • India consumes too much, invests too little.
  • India has a lot of trapped liquidity.
  • Emerging-markets likely to remain under pressure over the long-term.
  • Liquidity crunch, bond volatility, China some key concerns for ems.
  • India will continue to do well over next three-to-four months.
  • Dollar will stabilise over next three-to-four months.
  • India has performed well compared to EM peers.
  • Investments will rise once more structural reforms take place.
  • India has not done enough supply side reforms.
  • India's twin deficits have crept up over the last 18 months.
  • EMs like India are seeing inflation growing faster than economic growth.
  • Bank of Japan reluctant to participate in rate tightening.
  • 4 percent is the right interest rate for us if it was an isolated economy.
  • Question is whether central banks know what they are doing.

Stocks Reacting To Earnings

Marksans Pharma (Q1, YoY)

  • Stock rose as much as 14.3 percent to Rs 33.45.
  • Net profit up 72.2 percent at Rs 24.8 crore.
  • Revenue up 6.4 percent at Rs 235.2 crore.
  • Ebitda up 22.4 percent at Rs 35.4 crore.
  • Margin at 15.1 percent versus 13.1 percent.

Firstsource (Q1, QoQ)

  • Stock fell as much as 5.4 percent to Rs 69.05.
  • Net profit down 4.5 percent at Rs 88.6 crore.
  • Revenue at Rs 919 crore versus 897.2 crore.

HIL (Q1, YoY)

  • Stock rose as much as 5.4 percent to Rs 2,444.80.
  • Net profit at Rs 52 crore versus Rs 36.8 crore.
  • Revenue up 22.5 percent at Rs 496.2 crore.
  • Ebitda up 31.7 percent at Rs 83.7 crore.
  • Margin at 16.9 percent versus 15.7 percent.

Arvind (Q1, YoY)

  • Stock rose as much as 4.4 percent to Rs 438.
  • Net profit at Rs 66.5 crore versus Rs 59.7 crore.
  • Revenue at Rs 2,861 versus 2,594 crore.
  • Ebitda up 17.7 percent at Rs 246.3 crore.
  • Margin at 8.6 percent versus 8.1 percent.
  • Revenue from branded apparel up 18 percent.
  • Expect final nod for separating branded apparel in the current quarter.

Graphite India (Q1, YoY)

  • Stock rose as much as 3.5 percent to Rs 1,094.75.
  • Net profit at Rs 957 crore verus Rs 30 crore.
  • Revenue at Rs 1,965 crore versus Rs 390 crore.
  • Ebitda at Rs 1,436 crore versus Rs 38 crore.
  • Margin at 73.1 percent versus 9.7 percent.

Astron Paper (Q1, YoY)

  • Stock rose as much as 7.6 percent to Rs 130.
  • Net profit up 53 percent at Rs 5.2 crore.
  • Revenue up 60.2 percent at Rs 80.4 crore.

Vinati Organics (Q1, YoY)

  • Stock rose as much as 8.2 percent to Rs 1,066.80.
  • Revenue up 43.5 percent at Rs 264.7 crore.
  • Net profit up 106.8 percent at Rs 64.3 crore.
  • Ebitda up 82.7 percent at Rs 91.7 crore.
  • Margin at 34.6 percent versus 27.2 percent.