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Reliance Industries, Adani Transmission, Petronet LNG hit record high
Posted on 18th October 2017
Ashok Leyland, Finolex Industries, Havells India, NBCC (India), NIIT Technologies and Petronet LNG are among 21 stocks from the S&P BSE500 index hit new highs today.

Reliance Industries (RIL), Kotak Mahindra Bank, Adani Transmission, Hindalco Industries and Indraprastha Gas are among 21 stocks from the S&P BSE500 index, which hit their respective new highs on the BSE on Wednesday in an otherwise weak market.

Ashok Leyland, Finolex Industries, Havells India, NBCC (India), NIIT Technologies, Petronet LNG, Tata Chemicals and Vakrangee too hit record highs today. At 10:38 AM; the S&P BSE Sensex was trading 0.31% or 102 points lower at 32,508.

RIL hit a new high of Rs 894, up 2% on the BSE, extending its 4% gain in past four trading sessions. The company had reported a 12.5% increase consolidated net profit at Rs 8,109 crore for the second-quarter ended September 2017 (Q2FY18) on back of higher margins from its core refining and petrochemical businesses.

“Future outlook for refining and petrochemical segments look upbeat as the company ramps up off gas cracker and commences operations of petcoke gasifiers. We are raising estimates for petrochemicals and Jio, while we moderately cut forecasts for refining segment,” analyst at IIFL Wealth Management said in a note and retains BUY rating on the stock with a two year price target of Rs 1,300.

Johnson Controls-Hitachi Air Conditioning India, Bajaj Electricals and Whirlpool of India from the consumer electronics sector hit all-time high on expectation of higher demand in festival season.

The Q2FY18 performance of the consumer electrical sector is likely to witness a sequential recovery owing to restocking by trade channels post Goods and Services Tax (GST) roll-out on 1 July 2017.

“Post GST, the consumer demand is reviving gradually. Last year despite of the adverse impact of Demonetization in December, Whirlpool of India was able to maintain robust growth. This year we expect better performance with more disposable income, good monsoon, rollout of GST and growing demand ahead of festive season,” the brokerage firm Kisan Ratilal Choksey Shares and Securities said in a note.

The outlook at the Petronet LNG’s 5 million MT terminal at Kochi currently remained under -utilized on account of lack of pipeline connectivity. GAIL has recently started the work of its Kochi-Koottanud-Mangalore-Bangalore pipeline, which is expected to get completed by the end of 2018.

Thus, we expect to see the company to be headed for a significant increase in the bottom-line. Better utilization at Dahej and a moderate increase in the re-gasification tariffs can further contribute to earnings. If the GAIL pipeline gets completed on schedule, the company could receive additional 1-1.5 MMTPA of gas going forward, the brokerage firm said in Diwali picks.

Related Companies: Reliance Industries Limited (RIL)   

Other Latest News
Maruti to roll out new entry-level car in 2020
Posted on 17th July 2018
New Delhi: Maruti Suzuki India Ltd, the seller of every second car in the country, plans to introduce its first entry-level car in India in more than two decades, as a revival in rural consumption is expected to boost demand for such vehicles.

The made-in-India car, code-named Y1K, is in the development stage at the company’s newly built research and development facility in Rohtak, said two people with direct knowledge of the matter.


Sensex rises over 100 points after sharp fall in crude prices; OMC stocks rally
Posted on 17th July 2018
The BSE Sensex recovered over 107 points to 36,431.17 in early trade on Tuesday on fresh buying by investors after a sharp drop on global crude oil prices and a strengthening rupee.

The 30-share index, which had lost 224.64 points in the previous two sessions, rebounded 107.40 points, or 0.30%, to 36,431.17 with stocks of oil & gas, FMCG, infrastructure, PSU, banking, consumer durables and auto sectors rising by up to 1.69%.


Akshay Kumar beats Salman Khan in Forbes list of 100 highest-paid entertainers
Posted on 17th July 2018
Bollywood actors Akshay Kumar and Salman Khan are among the world’s 100 highest-paid entertainers, according to a Forbes list topped by American boxer Floyd Mayweather. Akshay is ranked 76th on the Forbes list of the World’s Highest Paid Celebrities 2018 while Salman is on the 82nd spot.

Analyst corner: Maintain ‘add’ on Infosys with target price of Rs 1,405
Posted on 17th July 2018
Infosys reported a broadly in-line Q1FY19 on both revenues and margins. Revenue decline in the financial services vertical of 0.2% QoQ in CC terms and high attrition of 23% on a Quarterly Annualized (QA) basis were the key negatives. However, 8% QoQ growth in CC terms in digital revenues, $1.12bn of deal TCV (vs $905mn in Q4FY18) and addition of 4 clients in the >$100 mn revenue bucket were the key positive highlights.

FSSAI nudges food firms to disclose accurate nutrition value
Posted on 17th July 2018
Food Safety and Standards Authority of India (FSSAI) has recently launched the Eat Right Movement in a bid to encourage food companies to make accurate disclosures of the nutritional values or calorific value of foods. Additionally, the movement also aims to make consumers aware of the salt, sugar and sodium levels or fat content in the products they purchase or foods they consume.

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