TECHNICAL AND FUNDAMENTAL TECHNIQUES

Net interest income increased 13 percent year-on-year to Rs 881.63 crore in quarter ended December 2018. Shares of Jammu and Kashmir Bank (J&K Bank) gained 6.6 percent intraday Monday on the back of strong numbers declared by the company for the quarter ended December 2018 (Q3FY19). The bank has reported a 43 percent year-on-year increase in December quarter profit at Rs 103.75 crore, driven by other income and operating income. Profit in same quarter last year stood at Rs 72.47 crore. Net interest income increased 13 percent year-on-year to Rs 881.63 crore in quarter ended December 2018. Asset quality weakened as gross non-performing assets were higher at 9.94 percent as of  December 2018 against 9 percent as of September 2018. Net NPA were also higher at 4.69 percent against 3.91 percent, QoQ. Other income (non-interest income) grew by 52 percent year-on-year to Rs 163.5 crore and operating profit jumped 11 percent to Rs 425 cror...

The IT major reported 12 percent quarter on quarter (QoQ) decline in December quarter net profit to Rs 3,609 from Rs 4,110 crore last quarter. Analysts remain largely mixed on Infosys’ Q3 performance, especially highlighting the pressure on margins. Upbeat about better revenue and revenue guidance, some brokerages such as CLSA have raised target price. The IT major reported 12 percent quarter on quarter (QoQ) decline in December quarter net profit to Rs 3,609 from Rs 4,110 crore last quarter. The revenue was at Rs 21,400 crore, up around 4 percent over the previous quarter's Rs 20,609 crore. The earnings before interest and taxes (EBIT) was at Rs 4,830 crore, while the EBIT margin was 22.6 percent. The company has maintained FY19 EBIT margin guidance at 22-24 percent. The dollar revenue grew 2 percent quarter-on-quarter to $2,987 million. The constant currency revenue growth was 2.7 percent. Interestingly, the company raised its FY19 constant currency guidance ...

The company reported a growth of 10 percent in its net profit for December quarter at Rs 331.3 crore against Rs 300 crore during the same period of last year. Shares of Bandhan Bank fell 2 percent in the early trade on Friday after research house Macquarie has downgraded the stock to underperform with a target at Rs 400 per share. It introduce 20 percent capital allocation discount to its target multiple, while acquisition of Gruh at expensive raises capital allocation concerns. The risk of another expensive or ill-conceived merger an overhang, it feels. The company reported a growth of 10 percent in its net profit for December quarter at Rs 331.3 crore against Rs 300 crore during the same period of last year. The net interest income grew 54 percent at Rs 1,124 crore against Rs 732 crore last year. Operating profit for the quarter under review rose 57 percent at Rs 900 crore against Rs 574 crore in the same quarter of last year. At 09:17 hrs ...

Brokerage house Citi has maintained sell rating on the stock and cut target to Rs 1,785 per share. Share price of Tata Consultancy Services (TCS) was down 1.7 percent in the early trade on Friday on the back of Q3 numbers announced by the company on January 10. The company has reported a 2.6 percent sequential growth in December quarter profit at Rs 8,105 crore, with constant currency revenue growth of 1.8 percent QoQ meeting analyst expectations on Thursday. The bottomline growth was driven by other income (up 59 percent QoQ), but limited due to weak operational performance. The company had reported a profit at Rs 7,901 crore in quarter ended September 2018. Revenue during the quarter grew by 1.3 percent quarter-on-quarter to Rs 37,338 crore in October-December quarter, the country's largest IT services exporter said in its filing. The year-on-year growth in profit was 24.1 percent, and revenue in constant currency terms increased by 12.1 percent ...

We expect modest return from the stock in the medium term and recommend accumulation only on correction. Tata Consultancy Services  (TCS) delivered in-line performance in Q3FY19. Expect modest  returns going forward as global macro concerns, supply constraints in delivery and heady valuation partially masks the strong demand environment. Key Positives Double-digit growth (12.1 percent YoY) in Constant Currency. Digital continues to impress with a share of 30.1 percent and reporting strong YoY growth of 52.7 percent. Growth is seen across geographies led by UK, Continental Europe and Asia Pacific. The key market of North America, with a share of over 51 percent, has also shown a good 8.2 percent growth YoY. Traction in key verticals with BFSI growth improving to 8.6 percent from 6.1 percent in the September quarter is aided by the North American market and insurance vertical. Life sciences, energy and utilities and ...

Larsen & Toubro (L&T) awarded a contract worth Rs 147.73 crore for supply of optical fibre cables to be executed by May 2019. Shares of Himachal Futuristic Communication (HFCL) gained 5.8 percent intraday Friday after company won orders worth Rs 502 crore. The company has received the purchase orders worth Rs 502.73 crore approximately from Larsen & Toubro and a consortium led by ITI for creating OFC Network Infrastructure under BharatNet Phase-II project in Andhra Pradesh and Maharashtra respectively. Larsen & Toubro (L&T) awarded a contract worth Rs 147.73 crore for supply of optical fibre cables to be executed by May 2019. Company bagged another order worth Rs 355 crore from Aksentt Tech Services (ITI led  consortium) which is to be executed by October 2019. At 09:28 hrs Himachal Futuristic Communication was quoting at Rs 24.10, up Rs 0.95, or 4.10 percent on the BSE. GET ONE DAY FREE TRIAL>>> GOLD SILVER TI...

SINGAPORE (Reuters) - Oil slipped on Friday amid concerns over the outlook for the global economy, but output cuts agreed by major exporters underpinned crude prices and kept markets on track for a strong weekly climb. International Brent crude futures ( LCOc1 ) were at $61.55 per barrel at 0333 GMT, down 13 cents, or 0.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures ( CLc1 ) dropped 7 cents, or 0.1 percent, to $52.52 per barrel. Traders said the declines came on lingering concerns over the health of the global economy. "If we experience an economic slowdown, crude will underperform due to its correlation to growth," said Hue Frame, portfolio manager at Frame Funds in Sydney. Most analysts have downgraded their global economic growth forecasts below 3 percent for 2019, with some even fearing a looming recession amid trade disputes and spiraling debt. For now, however, there is hope that the trade war between Washington and ...