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travi

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Steel news is big bhai, China is closing down some old styled furnaces that will create some 80 million T dent in their total output as in the news.
But somone said that China has a 1.3 billion T capacity and its no biggie.
 

TraderRavi

low risk profile
Shutdowns in China give hope to Indian steel makers, stocks rally

MUMBAI: Steel stocks including JSW Steel , Tata Steel and SAIL rallied 4-5% on Wednesday on reports of Chinese capacity shutdowns.However, this development may not benefit Indian steel producers much since there is no reduction in Chinese steel production, believe industry experts. The Chinese stance in the steel sector matters since it accounts for almost half of global demand and half of the world's steel production.

“Total Chinese crude steel capacity is around 1,200 million tonnes with annual production of 804 million tonnes. So shutting down 50-100 million tonnes of capacity may not change the industry dynamics,“ said Seshagiri Rao, group CFO of JSW Steel, India's largest steel maker.


According to media reports, China intends to shut down 50-90 million tonnes of capacity in 2017. It will still have 310-350 million tonnes of excess capacity . Last year, China had cut around 43 million tonnes of capacity but it did not affect its steel output. China produced 804 million tonnes of steel in 2016, similar to that in the previous year. At 112 million tonnes, its export in 2016 was also in line with the level a year ago.

“Chinese capacity cut is a sentimental positive because it is considered as a step in the right direction by China for its steel industry . But, it will not affect Indian steel companies much since the output cut is much less due to low utilisation. The oversupply issue still persists,“ said Abhisar Jain, VP-metals and mining, Centrum.

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst
 

TraderRavi

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TraderRavi

low risk profile
TCS Q3 profit rises 3%, revenue & margin in line; attrition dips

Tata Consultancy Services , the country's largest IT services provider, on Thursday said its third quarter (October-December) profit increased 2.9 percent sequentially to Rs 6,778 crore, driven by the strong digital business and great execution work. It touched USD 1 billion-mark in profit for the first time. Revenue during the quarter increased 1.5 percent to Rs 29,735 crore and dollar revenue growth was 0.3 percent at Rs 4,387 crore compared with previous quarter. Constant currency revenue growth for the quarter was at 2 percent with volume growth of 1 percent on sequential basis. "The resilience of business model and strength of operating strategy has been brought to the fore by performance in Q3, traditionally a quarter of weak demand," N Chandrasekaran, MD & CEO said, who expects Q4 to follow normal trend.

Overall numbers matched analysts' expectations. Profit was estimated at Rs 6,489 crore (down 1.5 percent QoQ) and revenue at Rs 29,577 crore (up 1 percent) in Q3, according to average of estimates of analysts polled by CNBC-TV18. Dollar revenue growth was expected at only 0.2 percent and constant-currency revenue growth at around 1-1.5 percent compared with previous quarter. Other income, which also supported profitability, increased by 12.77 percent or by Rs 135 crore to Rs 1,192 crore QoQ. Digital business registered a 30.2 percent growth on year-on-year basis, TCS said. Its contribution to total revenue increased to 16.8 percent in December quarter from 16.1 percent in September quarter and 15.9 percent in June quarter. "To support and sustain digital business, we continue to build new capabilities in digital technologies, empower employees to enhance agility in workplace and invest more to develop IP-based platforms and products," Chandrasekaran said.

On the H1-B Visa Reform Bill reintroduced in the US Congress last week, he said there would be some visa regulatory changes and there could be regulations in the form of increase in visa fee or in the form of number of visa that IT companies will get but the company has been preparing well if the number of visas decline. In Q3, growth was led by energy & utilities segment (up 5.8 percent QoQ), hi-tech (up 2.6 percent), BFSI (up 2.1 percent), manufacturing (up 2.1 percent) and retail (1.9 percent) in constant currency. "From a geography perspective, business from emerging markets like Latin America and India clocked double digit growth of 12.5 percent and 10.3 percent sequentially, respectively while North America grew 2.2 percent and UK showed 1.7 percent growth quarter-on-quarter," TCS said. Infrastructure services showed 9.5 percent sequential growth and engineering & industrial services 3.1 percent in the quarter ended December 2016. "Strength in growing segments like Platforms, Cloud and Internet of Things is evident from the growth in Asset Leveraged Solutions (up 21 percent sequentially)," the IT major said.

Read more at: http://www.moneycontrol.com/news/re...tion-dips_8256981.html?utm_source=ref_article
 

TraderRavi

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Tata Sons Appoints N Chandrasekaran As Chairman Tata Sons

Says Chandrasekaran To Take Charge From February 21, 2017
Selection Panel Unanimously Recommended N Chandrasekaran
Chandrasekaran Has Demonstrated Exemplary Leadership As TCS CEO & MD Believe Chandrasekaran Will Inspire Group To Realise Its Potential
Rajesh Gopinathan Appointed TCS CEO
NG Subramaniam Appointed TCS COO
 

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