GIVE MISS CALL ON :- +91 99774 99927

TOP CORPORATE NEWS- 10 May 2019

corporate news (2)

Canara Bank Q4 net loss at Rs551.53cr
Shares of Canara Bank were trading 3% higher on Friday in the last hour of the trading session. The bank net loss of the fourth quarter of FY19 narrowed to Rs551.53cr vs. a loss of Rs4.859.77cr in the same period a year ago.NII of the bank for Q4FY19 increased by 17.2% to Rs3, 500.15cr. GNPA stood at 8.83% vs. 10.25% on qoqo basis, while it NNPA at 5.37% vs. 6.37% (qoq).Provision Coverage Ratio as of March 31, 2019, is 68.13%

SBI gains 3% post Q4FY19 numbers
Shares of State Bank of India (SBI) were trading 3% higher on Friday after the bank’s Q4FY19 NII came at Rs22,954cr as against Rs19,974cr, which is up by 14.9% yoy. Notably, the bank has reported a net profit of Rs838.4cr in Q4FY19, which is below consensus estimates, as against loss of Rs7,718cr yoy. Its GNPA for Q4FY19 came at 7.53% against 8.71% qoq, which has decreased by 118bps. NNPA for the quarter came at 3.01% against 3.95% qoq, which has declined by 94bps.The bank has reported operating profit for Rs16,933cr for the quarter as against Rs15,883cr. The PCR for the quarter came at 78.7%. Gross slippages for the quarter came at Rs7,691cr, the bank said in a press note today.

PNB Housing Finance net profit up 51% in Q4
For Q4FY19, PNB Housing Finance net profit grew by 51% to Rs379.7cr from Rs251.6cr. Net Interest Income registered a growth of 13% to Rs609.7cr from Rs540.8cr. The company Net Interest Margin (NIM) for Q4FY19 stood at 3.18% compared to 3.59% for Q4FY18. Gross Margin, net of acquisition cost but including fees, for Q4FY19 stood at 3.51% compared to 3.78% for Q4FY17-18.The spread on loans for Q4FY19 stood at 2.59% compared to 2.98% for Q4 FY18, the company said in the filing. The Board of Directors recommended the final dividend of Rs9 per equity share of Rs10 for FY19. Dividend payout ratio for the year inclusive of dividend distribution tax is 16.8%.Disbursements grew by 9% to Rs36, 079.4cr during FY19 from Rs33, 194.7cr over FY18.

Tata Motors JLR total April sales decline 13.1% yoy
Tata Motors, in its press note to the exchanges on Friday, informed that Jaguar Land Rover (JLR) retail sales in April 2019 were 39,185 vehicles, down 13.3% compared to April 2018.”The introduction of the all-electric Jaguar I-PACE and the sales ramp up of the new Range Rover Evoque continue to be encouraging, however, retail sales of other models were lower primarily reflecting the continuing weaker market conditions in China,” the company said in a press note to the exchanges today.

P. S. Reddy takes charge as the MD & CEO of MCX
P. S. Reddy today took charge as the Managing Director and Chief Executive Officer (MD & CEO) of Multi Commodity Exchange of India Ltd. (MCX), and as a Director on the Board. Reddy appointment has been approved by the Securities and Exchange Board of India (SEBI), for a period of five years with effect from May 10, 2019. Prior to joining MCX, he was associated with Central Depository Services (India) Ltd. (CDSL) and its subsidiaries for over 12 years in various capacities, with MD & CEO being his last position held.Prior to this, P. S. Reddy worked with BSE Ltd. for over 18 years, leading various departments such as Listing, Surveillance, Inspection, Investor Service, and HRD among others.

HCL Tech declines 5% post Q4FY19 numbers
Shares of HCL Tech declined 5% on Friday after the company PAT for the fourth quarter of FY19 declined 1.6% qoq at Rs2, 568cr. The company revenue grew 1.9% qoq to Rs15, 990cr. EBIT came in at Rs3, 039cr, down 1.5% qoq against median consensus estimate of Rs3, 100cr. EBIT margins contracted by 65bps qoq to 19%. Further, HCL Tech has guided for cc revenue growth for FY20 at 14-16% and margin guidance at 18.5-19.5%. HCL continued its strong deal win momentum in Q4, signing 17 transformational deals, reflecting a strong mix of Mode 1 and Mode 2 services.

CapitalStars Provides  Free Trial To Our Client…

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future cperformance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

Leave a Reply

Checking...

Ouch! There was a server error.
Retry »

Sending message...

FREE TRIAL REQUEST


CapitalStars FORUM