Companies and Markets

Companies & Markets

Software makers’ Q3 profit to shrink on muted demand

India’s top five software exporters’ net profit may fall in the fiscal third-quarter on disruptive trends, increasing competitive intensity and pricing pressure along with muted demand and likely lower other income.

Tata Consultancy Services (TCS), Infosys and three other top software exporters’ net profits are likely to fall by 3 per cent in the October-December quarter, the median estimates of a Tickernews poll of key brokerages showed.

Software makers are expected to report one of the weakest sets of results in the quarter.

SBI in image makeover mode; don’t belch, tells staff

The country’s largest bank, the State Bank of India (SBI), wants an image makeover. The lender in a three-page communication to its over two lakh employees has prescribed a dress code along with grooming guidelines and etiquette tips.

Select sectors trade in record premiums as mkt hits new highs

With the market scaling new heights, several sectors are trading at a huge premium to their historical average price to earnings (P/E) multiple. Investors, naturally, expect a sharp turnaround in corporate earnings over the next few quarters. Sectors like auto, PSU banks, capital goods, consumer, infrastructure and retail are trading at 20 to 35 per cent premium to their historical P/E and price to book P/B multiple.

Nifty shows early signs of exhaustion

The key indices ended with modest gains in range-bound trading on Tuesday. The Sensex rose 90.40 points, or 0.26 per cent, to settle at 34,443.19, while the Nifty 50 rose 13.40 points, or 0.13 per cent, to 10,637. Both indices hit record high in intraday as well as on closing basis. Continuous foreign fund inflows and bets by investors amid optimism over Q3 FY 2018 earnings and upcoming budget helped the key indices to hit record highs.

Brighter earnings season seen for most sectors

FC Bureau Mumbai The earnings expectations for the October-December quarter across the sectors are looking up, barring a few sectors like Information Technology, Telecom, Public Sector Banks, Cement and Pharmaceuticals.

Brighter earnings season seen for most sectors

FC Bureau Mumbai The earnings expectations for the October-December quarter across the sectors are looking up, barring a few sectors like Information Technology, Telecom, Public Sector Banks, Cement and Pharmaceuticals.

South Indian Bank Q3 net rises 3% to Rs 115 crore

Private sector South Indian Bank on Tuesday posted a 3.25 per cent rise in net profit at Rs 115 crore for the third quarter ended December 2017. The bank had posted a net profit of Rs 111.38 crore in the year-ago quarter.

Total income decreased to Rs 1,735.77 crore during the quarter against Rs 1,737.47 crore in the year-ago period, the banks said in a stock exchange filing.

The gross non-performing assets (NPAs) of the bank declined to 3.4 per cent of the total advances from 3.98 per cent.

Losses of public sector general insurers widen

Intense competition continues to extract a heavy toll on public sector non-life insurance companies. Offering insurance at unviable rates for large chunky corporate businesses has resulted in underwriting losses widening for them.

Single spot price for gold soon

There will soon be a single spot price for gold for the entire country. At present, spot prices differ from metro to metro and lack of transparency in supply-demand results in suppliers levying premiums. A uniform spot price could be a reality as setting up of a spot exchange is a major initiative of the ‘gold policy,’ which is expected to be unveiled by March, said a source privy to the development. The spot exchange will aim at establishing one spot rate, especially with the goods and services tax bringing in a uniform tax structure.

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