The document summarizes market performance and stock updates from India. Benchmark indices gained as the Sensex rose 0.87% and Nifty rose 0.81% recovering some losses from the previous day. Maruti Suzuki is discussing plans to set up a new 750,000 capacity plant, potentially in Gujarat, to maintain its leadership in the domestic car market. Indian Bank's Q3 profit fell 18.8% due to higher provisions, but net interest income grew 30% and asset quality improved.

1. 14TH
FEB 2018

2. Husains
MARKET WRAP
Benchmark indices recouped some of previous day's losses as the Sensex gained 294.71 points
or 0.87 percent at 34,300.47 and the Nifty rose 84.80 points or 0.81 percent to 10,539.80.
About 2,006 shares advanced against 736 declining shares on the BSE. NALCO, Oil India, Bata
India, Sun TV Network, Marico and Amara Raja Batteries rallied 3-7 percent.
Among sectors, Banks, Auto, Metals and Pharma indices gain 1-2 percent. Index heavyweights
HDFC Bank, Reliance Industries, L&T and HDFC gained 1-2 percent.
BROAD MARKET INDICES
INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE
NIFTY 50 10454.95 10518 10556 10485 10539.75 0.81
NIFTY NEXT 50 29728.95 29986 30222 29931 30171.85 1.49
NIFTY MIDCAP 50 5172.05 5216 5273 5208 5257.4 1.65
NIFTY100 LIQ15 4455.3 4488 4511 4462 4498.65 0.97
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3. ASIAN INDEX
INDEX OPEN HIGH LOW CLOSE %CHANGE
NIKKEI 225 21508 21510 21119 21383 -2.38
HANG SENG 29713 29802 29460 29460 -0.16
TAIWAN 10429 10474 10416 10421 0.47
SSE 3128.4 3168.1 3113.6 3153.6 0.75
INDIAN MAJOR SECTORAL INDICES
INDEX P. Close OPEN HIGH LOW CURRENT %CHANGE
NIFTY BANK 25463.65 25530 25758 25485 25701.6 0.93
NIFTY FIN SERVICE 10467.05 10494 10579 10462 10562 0.91
NIFTY IT 12492.7 12545 12592 12391 12422.65 -0.56
NIFTY PHARMA 9222.55 9298 9454 9271 9339.95 1.27
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4. STOCK UPDATE
Maruti Suzuki in talks to set up 750,000 capacity plant, may invest
in Gujarat
Maruti Suzuki, the country’s biggest car maker, is discussing with parent Suzuki Motor
Corporation for setting up new factories in India aimed at defending its iron grip over the
domestic car market.
The maker of Alto and Swift will have new capacities totaling 750,000 units per year for itself
taking its total future installed capacity to a staggering 3 million units per annum. The new
capacities could either come up in Gujarat, where its parent has started operations with its first
plant or it could come at a completely new site.
“Kenichi Ayukawa, Managing Director, Maruti Suzuki said, “Right now, the capacity of (the)
Gujarat plant is 250,000 units per annum. We have started construction of the second plant,
which will start operations in 2019. We are also requesting a third plant there and a decision on
starting operations will be taken this year. There is a capacity of 750,000 per year for the future
in Gujarat. And in the Haryana plant, we have a capacity of 1.5 million. Together, we would have
a capacity of 2.25 million. After that, we have to consider if we want to have another factory in
Gujarat and then should we look at some other site.”
“Our parent company invested in Gujarat. But we have to modify our factory every time and
every year we try to start (production) of a new model this includes full model change and minor
model change. Those kinds of investments we have to make. Also for technology developments
we used to 100 percent dependent on Japan but right now we do sharing for work," added
Ayukawa.
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5. STOCK UPDATE
Indian Bank Q3 profit falls 19%, but NII grows 30%, asset quality
improves
Public sector lender Indian Bank's third quarter (October-December) profit fell by 18.8 percent
year-on-year to Rs 303.1 crore, dented by higher provisions & contingencies and lower other
income; but supported by higher revenue growth with improvement in asset quality.
The bank had reported profit at Rs 373.5 crore in corresponding quarter of last fiscal.Net interest
income, the difference between interest earned and interest expended, grew by 30.2 percent to
Rs 1,623 crore compared to year-ago.
Asset quality improved during the quarter as the gross non-performing assets were lower at 6.27
percent from 6.67 percent in previous quarter and net NPAs were also declined at 3.30 percent
from 3.41 percent QoQ.
In absolute terms, gross NPAs were down 0.3 percent sequentially to Rs 9,595 crore but net
NPAs increased 3 percent to Rs 4,898 crore in Q3.Provisions and contingencies were higher YoY
as well as QoQ, but provisions for non-performing assets declined 39 percent quarter-on-quarter
and 29.5 percent year-on-year to Rs 385.48 crore for quarter ended December 2017.
Other income or non-interest income slipped 8.5 percent to Rs 548.85 crore and operating profit
increased 18.4 percent to Rs 1,209.2 crore compared to year-ago.
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