Nifty futures and bank nifty future market closed at 10487/ 25669.according to technical analysis if nifty futures and bank nifty future moves up-word in upcoming treading sessions then 10560/ 25910 will be next resistance level, if it break this level then nifty futures and bank nifty future can touch 11100 / 28335 level . it will be hard resistance. meanwhile in reveres there is support on 10414/ 25400 for nifty futures and bank nifty future after breaking this support with volume there is big support for nifty futures and bank nifty future on 10300/24900.NSE - WEEKLY NEWS LETTERS
? TOP NEWS OF THE WEEK
1 Godrej Consumer Products Q2FY18 consolidated net profit rises 12.6% yoy
1 Consolidated Results Q2FY18: (Rs. in crore)
Q2FY18 YOY( %)
REVENUE 2506.60 2.80
EBITDA 570.30 13.40
EBITDA MARGIN (%) 22.80 214
NET PROFIT 361.90 12.60
Godrej Consumer Products ltd revenue for the quarter came in at Rs. 2506.6 crore, registering 2.8% yoy increase. This was primarily driven by 3.4% and 8% yoy increase in revenues from Indian and African business.EBITDA for the quarter rose by 13.4% yoy to Rs. 570.3 crore with a corresponding margin expansion of 214 bps. EBITDA margin for the quarter stood at 22.8%. This margin expansion was aided by 4.5% yoy decline in cost of raw material consumed.The PAT for the quarter came in at Rs. 361.9 crore, yoy increase of 12.6%.Board has declared interim dividend of Rs.1 per share of Rs. 1 each.
Yes Bank Q2FY18 standalone net profit rises 25% yoy to Rs 1,002 crore
2 Standalone Results Q2FY18: (Rs. in crore)
Q2FY18 YOY( %)
NII 1885 33.5
NPA(%) 1.82 99
PROVISION 447 176
NET PROFIT 1002 25
Yes Bank reported Q2FY18 earnings in line with street estimates. The NII for the quarter was 1.5% higher than the street estimates of Rs1855 crore. While, net profit for the quarter was slightly below the estimates of Rs.1002 crore.NII for the quarter rose by 33.5% yoy to Rs.1885 crore in Q2FY18 vs Rs.1412 crore in previous year corresponding quarter. This was largely due to 18.1% yoy to Rs.4800 crore in Q2FY18.NIM’s for the quarter showed improvement at 3.7% vs 3.4% in Q2FY17.Asset quality of the bank deteriorated drastically as GNPA’s for the quarter rose by 197% yoy to Rs.2720 crore in Q2FY18 vs Rs.916 crore in previous year corresponding quarter. In percentage to total advances GNPA’s advanced by 99 bps to 1.82% in Q2FY18 vs 0.83% in Q2FY17. Also, NNPA for the quarter rose by 75 bps to 1.04% vs 0.29% in Q2FY17.Further Bank also reported divergence in GNPA’s & NNPA’s to Rs.6355 crore & 4819 crore for FY17.Provisions for the quarter rose by 176% yoy to Rs.447 crore in Q2FY18 vs Rs.161 crore in previous year corresponding quarter.Also, provision coverage ratio for the bank looks low at 43.3% in Q2FY18 vs 64.8% in Q2FY17.However, net profit for the quarter rose by 25% yoy to Rs.1002 crore in Q2FY18 vs Rs.801 crore in Q2FY17.
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