Traders Comment

Pidilite Industries Ltd Buy above Rs 602

Pidilite Industries Ltd has bounced back from 200 DMA. We recommend a buy above Rs 602 with the stoploss of Rs 585 for the target of Rs 577.

Technical call of the Day

Hindustan Unilever (Mar) Future Sell below Rs 860

We recommend a sell in Hindustan Unilever (Mar) future below Rs 860 with the stoploss of Rs 875 for the target of Rs 838.

• Nestle India has posted a net profit of Rs.259 crore, down 19.06 per cent for the quarter ended March, compared with Rs.320 crore in the corresponding period last year. Net sales stood at Rs.2,296 crore, down 8.4 percent. The net domestic sales decreased by 8.7 per cent, export sales fell by 4.8 per cent. While the company has by now re-launched four variants of Maggi Noodles, it has also been focusing on expanding presence in other categories with new launches such as Munch Nuts, Kitkat Duo, Nestle a+ Grekyo, among others.

• Nestle India has posted a net profit of Rs.259 crore, down 19.06 per cent for the quarter ended March, compared with Rs.320 crore in the corresponding period last year. Net sales stood at Rs.2,296 crore, down 8.4 percent. The net domestic sales decreased by 8.7 per cent, export sales fell by 4.8 per cent. While the company has by now re-launched four variants of Maggi Noodles, it has also been focusing on expanding presence in other categories with new launches such as Munch Nuts, Kitkat Duo, Nestle a+ Grekyo, among others.

• Nestle India has posted a net profit of Rs.259 crore, down 19.06 per cent for the quarter ended March, compared with Rs.320 crore in the corresponding period last year. Net sales stood at Rs.2,296 crore, down 8.4 percent. The net domestic sales decreased by 8.7 per cent, export sales fell by 4.8 per cent. While the company has by now re-launched four variants of Maggi Noodles, it has also been focusing on expanding presence in other categories with new launches such as Munch Nuts, Kitkat Duo, Nestle a+ Grekyo, among others.

• Nestle India has posted a net profit of Rs.259 crore, down 19.06 per cent for the quarter ended March, compared with Rs.320 crore in the corresponding period last year. Net sales stood at Rs.2,296 crore, down 8.4 percent. The net domestic sales decreased by 8.7 per cent, export sales fell by 4.8 per cent. While the company has by now re-launched four variants of Maggi Noodles, it has also been focusing on expanding presence in other categories with new launches such as Munch Nuts, Kitkat Duo, Nestle a+ Grekyo, among others.

Economic Snapshot

• Retirement fund body EPFO can now invest up to 65% of its investible deposits in government bonds, up from 50% currently. A proposalby the Labour Ministry in this regard has been approved by the Finance Ministry, which will pave the way for additional Rs 11,000 crore investment by EPFO in government bonds every year.
• The Centre has issued fresh guidelines for foreign domestic investments (FDI) in e-commerce allowing 100 per cent FDI in the marketplace-based model — an arrangement where e-commerce companies provide an online platform to other vendors to sell their products.
• The Central Board of Direct Taxes (CBDT) has signed 11 more unilateral advance pricing agreements (APAs), taking the overall number to 59. They includes three bilateral APAs — one with Japan and two with the UK (signed in February). An APA is an agreement between a corporate taxpayer and the tax authority on its transfer pricing methodology and the tax rate applicable on inter-company transactions. It usually runs for a few years and helps avoid disputes with the tax authorities over transfer pricing. The latest round of 11 APAs cover a range of transactions, including ITeS, corporate guarantee, software development services, overseas distribution of goods manufactured by Indian companies and royalty ayments.