NDPMS Wealth Management

Dr. Reddy's Laboratories   - RU3QFY2013 Dr. Reddy’s Laboratories (DRL) reported more or less just-in 3QFY2013 top-line and bottom-line performance. The company’s net sales increased by 3.5% yoy    (23%  adjusted  for  the  base  effect).  The  growth  came  in  on  back  of  24%  yoy (adjusted) in the US and Emerging Markets. On the EBIT margins came in at 15.0% V/s expected 15.8%. Consequently the net profit came in at `363cr, a dip of 29.1%, mostly in line with expectations of `339cr. DRL reported net sales of `2,865cr for 3QFY2013, registering 23.0% yoy growth, which was a tad lower than our estimate of `2,700cr. The U.S. and Emerging markets grew by 24% yoy (adjusted) were the key growth drivers for the company. The domestic market reported a strong growth of 12.0% yoy. On the positive side the PSAI segment posted a robust growth of 28.0% yoy during the quarter. The company’s E...

Nik's Diary The Indian market opened on a weak note tracking negative cues from SGX Nifty which is trading lower. A majority of the Asian indices too are trading in the red following data points from Europe that signal that the region’s recession is deepening, and on concerns that China will do more to control economic growth. The US market ended lower as traders continued to cash in on the recent strength in the markets, which lifted the major indices to multi-year highs. The concerns about the outlook for monetary stimulus from the Federal Reserve also weighed on stocks along with the disappointing reports on weekly jobless claims and Philadelphia manufacturing activity. According to the Labor Department report, initial jobless claims climbed to 362,000 in the week ended February 16th vs expectations of 359,000. Separately, the Philadelphia Federal Reserve report stated that the regional manufacturing activity fell to a negative 12.5 in February from a negative 5.8 in Janu...

Nik's Diary The Indian market opened on a negative note tracking SGX Nifty and major Asian markets which are trading lower, after minutes of the Federal Reserve meeting showed that US policy makers are divided over further stimulus measures. The US market ended on a negative note on Wednesday partly due to profit booking. A negative reaction to the minutes of the latest Federal Reserve meeting also generated selling pressure. In addition, a larger-than-expected decline in US housing starts, which fell 8.5% to a seasonally adjusted annual rate of 890,000 in January 2013 from the revised December 2012 estimate of 973,000, impacted the market. The European markets ended Wednesday's trading session with mixed results, following yesterday's strong rally mainly due to the negative housing start data released in the US. Back home in India, the shares rose marginally on Wednesday, with the Reliance Industries stock rallying after company expressed plans to invest over US$5bn...

Nik's Diary The Indian market opened marginally positive, mirroring SGX Nifty which is trading marginally higher in the opening trades. Major Asian indices are also trading in the positive zone. The US markets ended on a positive note on Tuesday following Monday's President's Day holiday. The market moved notably higher following the rally in Europe and optimism about further merger-and-acquisition activity which helped generate continued buying interest. European stock markets posted broad-based gains on Tuesday, boosted by stronger-than-expected German ZEW economic sentiment data. The ZEW economic expectation index jumped 16.7 points to 48.2 in February, exceeding analysts’ expectations of 35.0 points. Back home in India, Indian shares rose notably on Tuesday, with gains accelerating in the afternoon helped by firm European cues. Going ahead, investors are likely to keep an eye on reports on housing starts and producer price inflation as well as the release of the  m...

Nik's Diary The Indian market opened flat to positive, mirroring SGX Nifty which is trading marginally higher in the opening trades. The major Asian indices are trading on a mixed note after the minutes of last month’s Bank of Japan meeting indicated that Japan’s economy remains relatively weak. The US markets were closed on Monday following the President's Day holiday. The European markets traded mostly lower, amid no major announcement on the earnings or economic data front. Back home in India, the domestic market moved in a narrow range before ending modestly higher. Stocks pared early gains, tracking mixed European cues and weak industrial metal prices. However, the underlying sentiment remained slightly cautious as global ratings agency Moody's warned that a continued rise in India's current-account deficit is ‘credit negative’ for the country. It also stated that the rising current account deficit and external debt may impact the nation's credit risk pr...