Trading News
STOCK MARKET REVIEW: 24 AUG 2012
BSE SENSEX and NIFTY closed below the important 5400 level first time in this week ahead of settlement as weaker Asian cues weighted down the sentiments after doubts over the Greece’s future in Euro Zone and easing of hopes of U.S. Analysts are expecting if market breaches the 5350 level, it would be better to close long positions and start looking for sell or to take short positions. However downside rally was led by infrastructure and banking stocks as index heavy weight Reliance Infrastructure cracked 3 percent along with banking major ICICI BANK and AXIS BANK down by 2 percent each while ONGC, COAL INDIA and BPCL tried to cap the falls.
The SENSEX closed 67 points down at 17,783 and the NIFTY stood at 5,390 down by 25 points.
BSE Small-Cap index was down 0.78% while the BSE Mid-Cap index finished 0.58% down.CNX MIDCAP 50 index was down 0.39% and S&P CNX 500 was down around 0.45%.
Nifty Gainers
Today’s nifty top gainer were
ONGC changed 2.13% with 21, 38,045 volumes
COALINDIA changed 2.09% with 44, 74,419 volumes
BPCL changed 1.20% with 8, 35,158 volumes
Nifty Losers
Today’s nifty top losers were
RELIANCE INFRA with volume 21, 45,464 and changed -3.01%
DLF with volume 43, 47,071 and changed -2.92%
JPASSOCIAT with volume 1, 00, 41,060 and changed -2.91%
TATA POWER’s expansion plans receive a jolt as MERC halts migration of large clients for a year.
Tata Power Company's aggressive expansion in Mumbai received a setback as Maharashtra's power regulator the Maharashtra Electricity Regulatory Commission (MERC) has ordered that for the next one year, large electricity consumers such as commercial establishments and industries cannot switch from one distribution company to another.
L&T may raise up to Rs 3,200crore through share sale or issue of other equity-linked instruments.
Engineering major Larsen & Toubro may raise up to Rs 3,200crore through share sale or issue of other equity-linked instruments over the next year. The company has planned capital expenditure worth Rs 1,700crore in the current fiscal 2012-13
GVK wins approval for $10bn Aussie coal mine, rail project.
GVK Power and Infrastructure won environmental approval for its A$10 billion Alpha coal and rail project in Australia's Queensland state, with 19 conditions to protect the environment. The Alpha coal project is being run by Hancock Coal, 79% owned by GVK and would produce 32 million tons a year.
Network18 sells partial stake in for Rs 100cr.
The Network18 Group announced that it has entered into an agreement to dilute its majority stake in India’s premier entertainment ticketing website - Bookmyshow.com. Network18 was the majority shareholder in BIGTREE Entertainment Private Limited, the holding company of the entertainment ticketing website BookMyShow.com, holding a 60% stake
STOCK MARKET REVIEW: 23RD AUG 2012
BSE SENSEX and NIFTY benchmarks started off on a firm note, and after moving in tight band, drifted lower in late afternoon trade and ended flat in a choppy session, though NIFTY spent most of the session consolidating, keeping hopes of 5600 very much alive for active traders. IT stocks hogged the limelight of the day after minutes from the Federal Reserve meeting suggest the US central bank is moving towards monetary stimulus measures. FMCG, PHARMA and metal stocks too saw some bright spells. Cairn India, Ranbaxy Labs, TCS, Wipro and Infosys were top gainers in the Nifty. Mahindra and Mahindra, Reliance Infra, Larsen, Reliance and ONGC were the top losers.
The SENSEX closed 9 points up at 17,856 and the NIFTY stood at 5,415 up by 2 points.
BSE Small-Cap index was down 0.14% while the BSE Mid-Cap index finished 0.07% down.CNX MIDCAP 50 index was down 0.12% and S&P CNX 500 was down around 0.04%.
Nifty Gainers
Today’s nifty top gainer were
CAIRN changed 3.36% with 30, 55, 767 volumes
RANBAXY changed 2.68% with 27, 54, 638 volumes
TCS changed 2.57% with 11, 68, 513 volumes
Nifty Losers
Today’s nifty top losers were
RELIANCE INFRA with volume 23, 05, 371 and changed -2.10%
RELIANCE with volume 38, 04, 968 and changed -1.73%
M&M with volume 6, 29, 268 and changed -1.72%
TBZ plans to open 43 new stores by 2015.
TRIBHUVANDAS BHIMJI ZAVERI (TBZ) said volumes have been quite good for the company in the first quarter and going forward, they are looking ahead to Q3 and Q4 for better performances. TBZ also has plans to expand operations and open 43 new stores by the end of 2015.
FINANCE MINISTRY approves 49% FDI in insurance & pension sector.
The Finance Ministry has approved foreign direct investment in insurance and pension sectors up to 49%. The Insurance and Pension Bills will now need Cabinet approval before coming up before Parliament. In earlier report the limit was 26% but these bills were relooked and now the FDI limit stands at 49%.
STOCK MARKET REVIEW: 22 AUG 2012
BSE SENSEX and NIFTY benchmarks consolidated after hitting fresh 5 months highs in yesterday’s trade. PHARMA, IT and AUTO stocks were on buyer's list today. Realty, power and consumer durables witnessed some profit booking. BHARTI AIRTEL fell to its lowest intraday level since October 2008, after Credit Suisse downgraded the stock. BHARTI AIRTEL was accompanied by SESAGOA, STERLITE Industries, IDFC and PNB on the losing side. Top gainers on the Nifty were Ranbaxy Labs, BPCL, Bank of Baroda, Infosys and Dr Reddys Labs. Ranbaxy Laboratories surged over 3% as analysts cited improved sales potential in key US markets.
The SENSEX closed 38 points down at 17,846 and the NIFTY stood at 5,412 down by 8 points.
BSE Small-Cap index was down 0.22% while the BSE Mid-Cap index finished 0.21% down.CNX MIDCAP 50 index was down 0.52% and S&P CNX 500 was down around 0.19%.
Nifty Gainers
Today’s nifty top gainer were
RANBAXY changed 4.28% with 19, 11, 718 volumes
BPCL changed 2.67% with 16, 28, 925 volumes
BANK BARODA changed 1.52% with 4, 90, 000 volumes
Nifty Losers
Today’s nifty top losers were
BHARTI AIRTEL with volume 1, 11, 12, 966 and changed -3.98%
IDFC with volume 32, 15, 626 and changed -1.73%
SESAGOA with volume 18, 99, 557 and changed -1.68%
July consumer inflation eases to 9.86%.
India's annual consumer price inflation eased slightly in July to 9.86%, on the back of fall in petrol prices at the pump. Food prices for consumers accelerated to 11.53% in July from 10.71% in June. Inflation as measured by India's benchmark wholesale price index dropped to 6.87% in June, nearly three-year low, helped by slower increases in fuel prices.
MRPL looks beyond Iran for high sulphur oil.
MRPL has drawn up a plan for tapping spot markets for sulphur oil as imports from Iran, its biggest supplier, have been hit by western sanctions. Refiners in India, Iran's biggest oil client , have struggled to find insurance and shipping for imports since the EU brought in sanctions banning insurance firms from Iranian oil shipments.
Tata Steel to pay $471mn to redeem dollar bonds.
Tata Steel will pay about USD 471 million to redeem its foreign currency convertible bonds maturing on September 5. The equity conversion price of the securities is nearly double the current stock value of the company. The equity conversion price of the bonds was set at about Rs 727 a share.
L&T gets notice for non-payment of Rs 160-cr excise duty.
The central excise department has slapped a notice on infrastructure major Larsen and Toubro (L&T) for alleged non-payment of excise duty of Rs 160crore. L&T allegedly cleared the goods without payment of duty and registration under central excise, and cleared a substantial quantity of these parts and removed them from the factory without payment of duty.
STOCK MARKET REVIEW: 21 AUG 2012
BSE SENSEX and NIFTY benchmarks had a huge gush of liquidity propelling a rally after a big weekend. The 50-share NSE Nifty surpassed the 5400 level quite nicely in late trade, for the first time since March 16, 2012, which rose 54.70 points or 1.02% to close at 5421. The 30-share BSE benchmark surged over 1 per cent in trade to hit its five-month high led by sustained buying in consumer good and auto shares after rains eased fears of drought. Foreign institutional investors have consistently bought more than Rs 7,500crore worth of equity shares since June 27 and during the same period, the market rallied 7.5%, just on hopes of some policy action, reform action or diesel price hike Infosys (2.3 per cent), ICICI Bank (1.6 per cent) and HDFC (2.3 per cent) were the gainers.
The SENSEX closed 194 points up at 17,885 and the NIFTY stood at 5,421 up by 54 points.
BSE Small-Cap index was up 0.52% while the BSE Mid-Cap index finished 0.24% up.CNX MIDCAP 50 index was up 0.27% and S&P CNX 500 was up around 0.81%.
Nifty Gainers
Today’s nifty top gainer were
STERLITE changed 4.82% with 56, 19, 353 volumes
DLF changed 3.83% with 44, 07, 131 volumes
SESAGOA changed 3.71% with 15, 06, 184 volumes
Nifty Losers
Today’s nifty top losers were
BHARTI AIRTEL with volume 1, 40, 21, 413 and changed -1.54%
CAIRN with volume 15, 42, 180 and changed -1.17%
PNB with volume 4, 76, 933 and changed -1.01%
Reliance Capital sold its AMC & MF unit stake to Nippon Life for Rs 1,450crore.
Reliance Capital is financial services arm of Anil Ambani - led Reliance Group and is present in businesses like asset management, mutual fund, insurance, brokerage, and has completed sale of 26 per cent stake in its asset management and mutual fund unit to Japanese financial services giant Nippon Life for Rs 1,450crore.
BHEL to set up new manufacturing facility in Maharashtra.
Engineering major BHEL plans to set up a new manufacturing facility in Maharashtra for which it would invest Rs 159crore. BHEL, which has a special focus on power plant equipment, plans a 90,000 ton capacity production facility.
GITANJALI buys 15.3% stake in Japanese firm VERITE for Rs 25crore.
GITANJALI Group, the leading branded Jewellery manufacturer and retailer, has acquired a 15.3 per cent stake in Japanese firm VERITE for Rs 25crore. The company has acquired the stake through its Hong Kong- based wholly-owned subsidiary and this stake will increase the presence of the GITANJALI group in one of the leading diamond jewellery markets of the world.
Union Bank to seek Rs 950-1,000 crore from government.
Union Bank of India will seek around Rs 950-1,000crore capital from the government. The bank is expecting a business growth of 18 per cent to 19 per cent, while advances and deposits to grow by 18 per cent and 15 per cent, respectively.
STOCK MARKET REVIEW: 17 AUG 2012
BSE SENSEX and NIFTY benchmarks provisionally ended flat after erasing gains in the second half of trade. The markets gained in an intraday trade due to stability in global markets on the hopes of easing Eurozone credit crisis, but the three CAG (Comptroller and Auditor General) reports tabled in parliament in afternoon trade washed out gains of the market. The much-awaited Comptroller and Auditor General report on coal block allocation pegged the loss caused due to allocation of coal blocks at Rs 1.86 lakh crore, and said 25 firms including ESSAR Power, HINDALCO, Reliance Power, Tata Steel, Tata Power and JSPL were benefited from this coal blocks. HINDALCO Industries declined 2.5% and Jindal Steel plunged 4% whereas Tata Steel and Sterlite Industries were down over 0.8%.
The SENSEX closed 33 points up at 17,691 and the NIFTY stood at 5,366 up by 3 points.
BSE Small-Cap index was up 0.02% while the BSE Mid-Cap index finished 0.05% up.CNX MIDCAP 50 index was down 0.91% and S&P CNX 500 was up around 0.02%.
Nalco to foray into energy sector.
Aluminium giant NALCO is all set to invest around Rs 40,000crore to make a foray into energy sector besides implementing a host of new projects and expansion works. The company is also planning to set up a Rs 4,500crore alumina refinery in Gujarat with one million tons per annum capacity and a 1.4 million tons per annum alumina refinery in Andhra Pradesh.
ICICI raises $750m worth bonds from overseas market.
Private sector lender ICICI Bank has raised USD 750 million through bonds in the international market. The five-and-a-half-year fixed rate notes carry a coupon rate of 4.70%.The offering, had an order book of USD 5.7 billion with interest from over 312 investors.
IDFC Q1 net profit up 21% to Rs 380 cr.
State-run Infrastructure Development Finance Corporation 's (IDFC) consolidated net profit rose by 21% year-on-year to Rs 379.78crore in the quarter ended June 2012.Total income jumped 36.19% to Rs 1,840crore from Rs 1,351crore during the same period.
Oriental Bank of Commerce cuts base rate by 10bps to 10.40%.
Oriental Bank of Commerce slashed its base rate by 10 basis points to 10.40%. The move is expected to be followed by some mid-size rival banks and eventually translate into lower rate of interest for borrowers. However, it did not change its base rate (at 10%) or the minimum benchmark rate below which lenders are not allowed to lend.
STOCK MARKET REVIEW: 14 AUG 2012
BSE SENSEX and NIFTY benchmarks closed with a high note surpassing their respective barriers. NIFTY closed near 5-month high crossing 5350 mark and setting a positive undertone for the market in near term. The market shrugged off gloomy trade deficit data and gave thumbs up to lower than expected monthly inflation data. India's wholesale price index (WPI) rose a lower-than-expected 6.87% in July from a year earlier, mainly driven by higher food prices. Banking stocks were the biggest beneficiary from inflation data as it also sparked hopes of rate cut from the Reserve Bank of India. Top commercial vehicle maker Tata Motors jumped 2.6% and country's largest private steel producer Tata Steel rallied 2.4%.
The SENSEX closed 94 points up at 17,728 and the NIFTY stood at 5,380 up by 32 points.
BSE Small-Cap index was up 0.25% while the BSE Mid-Cap index finished 0.30% up.CNX MIDCAP 50 index was up 0.19% and S&P CNX 500 was up around 0.50%.
Nifty Gainers
Today’s nifty top gainer were
TATA MOTORS changed 3.31% with 84, 49, 460 volumes
RANBAXY changed 3.30% with 6, 85, 487 volumes
IDFC changed 2.85% with 49, 59, 742 volumes
Nifty Losers
Today’s nifty top losers were
SUNPHARMA with volume 14, 47, 149 and changed -2.33%
HDFC with volume 26, 70, 753 and changed -2.08%
HINDALCO with volume 67, 82, 889 and changed -1.24%
L&T Construction bags Rs 2,008crore orders in July and August.
L&T Construction has bagged new orders worth Rs 2008crore across various business segments in July and August. The company's power transmission and distribution unit has secured orders worth Rs 607crore in both domestic and international markets, the buildings and factories unit has won contracts worth Rs 674crore.
Tata Power eyes overseas transmission project.
Tata Power is looking at overseas opportunities in transmission business and therefore forayed into the transmission sector by picking up a 51 per cent controlling stake in a 1,200-circuit km (high voltage 220 kv and 110 kv) TALA Transmission project.
SUN PHARMA wins over Taro with higher offer.
Sun Pharmaceutical Industries has upped the buy-out price for its Israeli unit TARO PHARMA by 60%, winning over Taro's board and ending a long battle to gain full control of the US listed drug maker. Sun Pharmaceutical will pay USD 571 million to buy about a third of Taro's 44.5 million shares at USD 39.50 a share, up from an offer of USD 24.50 a share.
India Cements Q1 net down 39% to Rs 62 cr.
The Chennai-based India Cements ' net profit fell higher than expected 39% year-on-year to Rs 62crore in the quarter ended June 2012, Net sales rose 13.7% to Rs 1,201.4crore from Rs 1,056.8crore during the same period.
STOCK MARKET REVIEW: 13TH AUG 2012
BSE SENSEX and NIFTY benchmarks ended a range bound session in the green as it gained momentum in the last hour of trade after a consolidation that started on Wednesday. The market has already rallied 5% in previous two weeks, and is waiting for the trigger to drive the rally further, that trigger may be some reforms by the government to revive sluggish economy growth or stimulus from Euro zone or US central banks. Tomorrow's inflation will also be closely watched by the market as the Reserve Bank of India's main target is to bring inflation down below comfort level of 7%. HDFC, HDFC BANK LTD and RELINFRA were the major gainers of the session.
The SENSEX closed 75 points up at 17,633 and the NIFTY stood at 5,348 up by 27 points.
BSE Small-Cap index was up 0.54% while the BSE Mid-Cap index finished 0.46% up.CNX MIDCAP 50 index was up 1.19% and S&P CNX 500 was up around 0.64%.
Nifty Gainers
Today’s nifty top gainer were
HDFC changed 3.46% with 18, 20, 437 volumes
DLF changed 3.14% with 34, 80, 868 volumes
RELINFRA changed 3.05% with 15, 57, 298 volumes
Nifty Losers
Today’s nifty top losers were
HINDALCO with volume 44, 83, 143 and changed -1.50%
TATA MOTORS with volume 90, 53, 644 and changed -1.49%
HEROMOTO with volume 4, 06, 415 and changed -1.29%
Aviation companies owe Rs 40,621 cr to banks: Govt.
Aviation companies owe Rs 40,621 crore to banks as on June 2012, of which the outstanding loan by country's largest lender SBI is over Rs 5,000 crore. While the banks have disbursed Rs 47,056 crore to airline companies from 2009-10 to June 30, 2012, the total outstanding outstanding as on June 2012 stood at Rs 40,621 crore, finance minister said in a written reply to the Lok Sabha.
Insurance cos may be allowed to invest upto 20% in equities.
It could be the big boost to market and the government's divestment agenda. Govt sources have indicated that the investment cap on insurance companies may be hiked. Insurance companies may now be allowed to invest upto 20% in market, reports Aakansha Sethi. The current cap for insurance companies is only 10%.
Bharti's nos disappoint; bearish on Indian telcos: Nomura.
The largest telecom operator in India, Bharti Airtel disappointed the street with lower than expected numbers in the first quarter of FY13. The company's consolidated net profit fell by 24.23% quarter-on-quarter to Rs 762.2 crore. Bharti's net sales too grew at a meager 3.3% to Rs 19350.1 crore from Rs 18729.4 crore in the corresponding quarter last year.
GAAR provisions to apply from assessment yr 2014-15: FinMin.
In a statement in the lower house of the parliament, the finance ministry said that provisions on GAAR will be applicable from the assessment year 2014-15 and the guidelines will be prescribed through subordinate legislations.
STOCK MARKET REVIEW: 10TH AUG 2012
BSE SENSEX and NIFTY benchmarks ended in consolidation due to the bad news from the corporate front which kept on pouring this week, denting investor’s sentiment. VERITAS-INDIABULLS tangle, tepid IIP numbers and substandard results from sectoral heavyweights like SBI, RANBAXY and BHARTI AIRTEL sums up the entire week. The NIFTY is witnessing a choppy session in the absence of positive cues from the global peers. Gains in oil & gas, technology and FMCG were offset by losses in auto, banks and reality sectors.
The SENSEX closed 3 points down at 17,557 and the NIFTY stood at 5,320 down by 2 points.
BSE Small-Cap index was down 0.24% while the BSE Mid-Cap index finished 0.07% up.CNX MIDCAP 50 index was down 0.11% and S&P CNX 500 was down around 0.08%.
Nifty Gainers
Today’s nifty top gainer were
BPCL changed 3.59% with 20, 05, 942 volumes
MARUTI changed 2.46% with 6, 38, 468 volumes
KOTAK BANK changed 2.33% with 10, 36, 012 volumes
Nifty Losers
Today’s nifty top losers were
TATA MOTORS with volume 1, 10, 63, 424 and changed -4.11%
SBIN with volume 1, 08, 76, 117 and changed -3.24%
RANBAXY with volume 17, 64, 686 and changed -3.05%
Aviation companies owe Rs 40,621 cr to banks: Govt.
Aviation companies owe Rs 40,621 crore to banks as on June 2012, of which the outstanding loan by country's largest lender SBI is over Rs 5,000 crore. While the banks have disbursed Rs 47,056 crore to airline companies from 2009-10 to June 30, 2012, the total outstanding outstanding as on June 2012 stood at Rs 40,621 crore, finance minister said in a written reply to the Lok Sabha.
Insurance cos may be allowed to invest upto 20% in equities.
It could be the big boost to market and the government's divestment agenda. Govt sources have indicated that the investment cap on insurance companies may be hiked. Insurance companies may now be allowed to invest upto 20% in market, reports Aakansha Sethi. The current cap for insurance companies is only 10%.
Bharti's nos disappoint; bearish on Indian telcos: Nomura.
The largest telecom operator in India, Bharti Airtel disappointed the street with lower than expected numbers in the first quarter of FY13. The company's consolidated net profit fell by 24.23% quarter-on-quarter to Rs 762.2 crore. Bharti's net sales too grew at a meager 3.3% to Rs 19350.1 crore from Rs 18729.4 crore in the corresponding quarter last year.
GAAR provisions to apply from assessment yr 2014-15: FinMin.
In a statement in the lower house of the parliament, the finance ministry said that provisions on GAAR will be applicable from the assessment year 2014-15 and the guidelines will be prescribed through subordinate legislations.
STOCK MARKET REVIEW: 8 AUG 2012
BSE SENSEX and NIFTY shed the previous gains and ended almost flat on WEDNESDAY after investors booked profit and index heavy weight and India’s largest telecom operator Bharti Airtel posted poor quarterly numbers. The cut in India’s gross domestic products (GDP) forecast by CLSA and CITI to 5.5 percent and 5.4 percent from 6.0 percent and 6.2 percent respectively also weight over the sentiments. Indian equities traded higher in early trading hours but took a U- turn later as negative opening of European markets led the rally after Bank of England cut the economic growth. However Bharti Airtel crashed 6.6 percent over the poor earnings, company’s net profit fell 24.23 percent quarter-on-quarters to 762.2 crore while M&M and BPCL tried to hold NIFTY into positive terrain.
The SENSEX closed 2 points down at 17,600 and the NIFTY stood at 5,338 up by 2 points.
BSE Small-Cap index was down 0.39% while the BSE Mid-Cap index finished 0.19% down.CNX MIDCAP 50 index was down 0.33% and S&P CNX 500 was down around 0.12%.
Nifty Gainers
Today’s nifty top gainer were
M&M changed 3.87% with 28, 43,430 volumes
BPCL changed 3.02% with 9, 54,575 volumes
HINDALCO changed 1.98 % with 86, 88,039 volumes
Nifty Losers
Today’s nifty top losers were
BHARTIARTL with volume 3, 34, 23,428 and changed -6.43%
GAIL with volume 22, 43,064 and changed -3.02%
DLF with volume 49, 51,225 and changed -2.07%
RIL gas output decline causing power generation shortfall.
Reliance Industries' eastern offshore KG-D6 gas field has seen output drop to 29 million units a day, against a planned 80 million units, causing acute shortage in power generation. As against 80 mm smcd, it is producing only 29 mm scmd.
CRISIL Research cuts 2012-13 GDP growth forecast to 5.5%.
Rating agency CRISIL has slashed its forecast for the country's GDP growth this fiscal to 5.5% from 6.5% earlier, citing deficient monsoon and the worsening of the crisis in Eurozone as the major factors. Also, it expects lower foreign capital flows this financial year, and so has lowered its target for the rupee to 53 per US dollar, from 50 to the USD earlier.
AUROBINDO PHARMA, GLENMARK get FDA nod for generic montelukast sodium tablets.
Drug firms AUROBINDO PHARMA and GLENMARK have received approval from the US health regulator to manufacture and market generic montelukast sodium tablets used for treating asthma and allergies. They would immediately commence distribution of the product. The annual sales of montelukast sodium tablets 10 mg were nearly $3.5 billion and that of chewable tablets were $1.1 billion in 2011-12.
STOCK MARKET REVIEW: 7TH AUG 2012
BSE SENSEX and NIFTY benchmarks rose to their highest levels on hopes the RESERVE BANK OF INDIA will be pressured into lowering interest rates. Inflow of foreign money too aided the rally as foreign institutional investors have bought more than 4000crore worth of Indian equities in previous seven sessions. Country’s largest lenders State Bank Of India and ICICI Bank surged more than 2%. Even the technology players Infosys and TCS gained more than 2%. Top commercial vehicle maker TATA MOTORS continued to trade with more than 4% gains and India’s second largest two-wheeler maker Bajaj- Auto rallied 3%. On the other side two-wheeler major HEROMOTO CORP was down 1.4% due to the adjustment for dividend of Rs.45 per share.
The SENSEX closed 188 points above at 17,601 and the NIFTY stood at 5,336 up by 54 points.
BSE Small-Cap index was up 0.36% while the BSE Mid-Cap index finished 0.35% down.CNX MIDCAP 50 index was up 0.13% and S&P CNX 500 was up around 0.81%.
Nifty Gainers
Today’s nifty top gainer were
TATA MOTORS changed 4.15% with 1, 21, 44, 274 volumes
IDFC changed 3.59% with 81, 33, 532 volumes
DLF changed 3.57% with 87, 84, 555 volumes
Nifty Losers
Today’s nifty top losers were
CAIRN with volume 22, 51, 094 and changed -1.42%
HEROMOTO with volume 4, 00, 985 and changed -1.33%
POWERGRID with volume 30, 92, 576 and changed -1.20%
STOCK MARKET REVIEW: 6TH AUG 2012
BSE SENSEX and NIFTY ended on a firm foot as better than expected payrolls data in the U.S. and the emerging optimism for the solution to Euro zone debt-crisis aided the rally. The foreign institutional investors (FII’s) bought equities worth Rs.208.69crores and on account of hopes of some reforms in the monsoon parliament session, the market moved towards positive rally. Index heavyweight RELIANCE INDUSTRIES hogged the limelight, rising 5.7% due to sharp rally in crude. Country’s largest private sector lenders ICICI BANK and HDFC BANK were up by 1.5%-2% while their rival SBI rose 0.6%. DR REDDY’s (0.89%), ITC (0.33%), TCS (0.21%), COAL INDIA (0.20%), and HUL (0.09%), were the only losers.
The SENSEX closed 193 points above at 17,391 and the NIFTY stood at 5,288 up by 66 points.
BSE Small-Cap index was up 0.79% while the BSE Mid-Cap index finished 0.53% down.CNX MIDCAP 50 index was up 0.58% and S&P CNX 500 was up around 1.05%.
Nifty Gainers
Today’s nifty top gainer were
RELIANCE changed 5.51% with 85, 38, 202 volumes
TATA MOTORS changed 3.67% with 75, 13, 035 volumes
JP ASSOCIATES changed 3.07% with 1, 19, 55, 613 volumes
Nifty Losers
Today’s nifty top losers were
BPCL with volume 10, 04, 863 and changed -3.02%
WIPRO with volume 11, 45, 808 and changed -0.94%
DRREDDY with volume 1, 38, 142 and changed -0.92%
RIL plan to buy stake in Petronet LNG terminal.
Reliance Industries plans to take a stake in a new gas import terminal of Petronet LNG have been grounded under pressure from the oil ministry, which has had a strained relationship with RIL since last year. Reliance and BP, which are partners in oil and gas blocks in India and have set up a joint venture for gas marketing and infrastructure, had been negotiating with Petronet for a stake in the upcoming LNG terminal.
India's services growth index falls slightly.
India's services sector growth rate saw a slight fall in July but remained in the positive terrain for the ninth month in a row, amid rise in new orders and employment levels holding up. Service sector activity grew at a steady pace in July, with growth in new orders and employment holding up.
Jet Air makes profit in Q1 after 5 quarters, stock up 2%.
After five straight quarterly losses, Jet Airways has reported a net profit of Rs 24.70crore for the April-June period on improved yields and cost cutting measures. Sales of the company too rose 30% to Rs 4587crore as the airline witnessed sharp increase in its passenger load factors on account of rival Kingfisher Airlines curtailing operations.
DB Corp in talks to acquire DCHL print business.
DB Corp is in talk to acquire Deccan Chronicle Holdings (DCHL) print business, turning out to be a positive news for DB Corp. This news of the company taking over the printing business of DCHL turned favourable for the stock prices of the company.
STOCK MARKET REVIEW: 3RD AUG 2012
BSE SENSEX and NIFTY edged lower on Friday from a selloff provoked by
the European Central Bank’s (ECB) failure to satisfy investors hopes of swift
action to tackle the debt crisis. Indian shares ended on a lower note for a
second day of losses as worries about the impact summer drought hit, but
broader losses were kept in check as defensive stocks rallied. Shares of
state-run banks fall on concerns a looming drought would increase defaults
of farm loans, leading to higher provisioning in coming quarters. Top ranked
SBIN dropped by 1%, while OBC dropped by around 2.2% and Allahabad
Bank retreats by 1.5%.Tractor maker MAHINDRA & MAHINDRA shares
dropped by 1.7% as the growing likelihood of a drought in India threatens to
hit rural sales.
The SENSEX closed 18 points down at 17,206 and the NIFTY stood at 5,215
down by 12 points.
BSE Small-Cap index was down 0.05% while the BSE Mid-Cap index finished
0.17% down.CNX MIDCAP 50 index was down 0.40% and S&P CNX 500 was
down around 0.26%.
Nifty Gainers
Today’s nifty top gainer were
ASIAN PAINTS changed 2.92% with 1, 12, 529 volumes
WIPRO changed 1.97% with 11, 16, 011 volumes.
NTPC changed 1.77% with 63, 97, 020 volumes.
Nifty Losers
Today’s nifty top losers were
STER with volume 45, 58, 138 and changed -2.82%.
JINDAL STEEL with volume 7, 89, 047 and changed -2.51%.
TATA STEEL with volume 41, 04, 495 and changed -2.48%.
Monsoon rains 4% below average in past week
India's monsoon rains were 4% below average in the week to August 1, the weather office said on Thursday, improving from a fifth below average in the previous week as rainfall revived in soybean and rice growing areas of India.
Yes Bank raises Rs 1,180 cr foreign loan
Private bank Yes Bank today said it has raised around Rs 1,181 crore through a dual currency syndicated loan facility from foreign markets. The facility has a maturity of one year and will be used for general corporate purposes and trade finance, the city-based private lender said in a statement. The bank had entered the market with an intention to raise USD 140 million euro and 32
million euro, but increased the amount to USD 155 million euro and 50 million euro following.
Maruti Manesar union leaders sent to 7 days police custody
Ten office bearers of Maruti Suzuki Workers' Union (MSWU), including President Ram Meher and General Secretary Sarabjit Singh, who were arrested yesterday, have been sent to seven days police custody by a local judicial magistrate. While producing them before the court of the magistrate today, the police sought ten days custody alleging that they were the main accused in the violence
at Maruti Suzuki's Manesar plant on July 18 in which one senior official was killed and 100 others were injured.
Nomura downgrades Asian Paints, sees no swift rebound
Nomura downgrades Asian Paints its target price to Rs 3,455 from Rs 3,500, citing concerns about
slowing volume growth, the possibility of price cuts and an increase in A&P spending over the next few quarters.
STOCK MARKET REVIEW: 1ST AUG 2012
BSE SENSEX and NIFTY although ended on positive note but it was a
completely lackluster session for the Indian benchmarks. The 30-Share
BSE index was up by 3 points and NIFTY closed up by 11 points. Today’s
consolidation after nearly 600 points rally on the SENSEX in the previous
three sessions indicated that the market seems still hopeful for some actions
on reforms after cabinet reshuffle. Even the outcome of Federal Reserve’s
and ECB meetings will be closely watched by the market. However, the
broader markets outperformed benchmarks, as BSE Midcap and Smallcap
indices gained 1% each. CIPLA, KOTAK BANK, AMBUJA CEMENTS gained
3%-4% whereas COAL INDIA, ONGC and SESA GOA tanked by 2%-3%.
The SENSEX closed 21 points up at 17,257 and the NIFTY stood at 5,240 up
by 11 points.
BSE Small-Cap index was up 1.16% while the BSE Mid-Cap index
finished .94% up.CNX MIDCAP 50 index was up 1.01% and S&P CNX 500
was up around .28%.
Nifty Gainers
Today’s nifty top gainer were
CIPLA changed 4.46% with 65, 69, 810 volumes
KOTAKBANK changed 3.71% with 10, 40, 064 volumes
AMBUJA CEMENTS changed 3.19% with 23, 81, 566 volumes
Nifty Losers
Today’s nifty top losers were
COAL INDIA with volume 26, 53, 693 and changed -2.59%
ONGC with volume 20, 33, 285 and changed -2.32%
SESA GOA with volume 21, 40, 733 and changed -2.13%
STOCK MARKET REVIEW: 31 JULY 2012
BSE SENSEX and NIFTY moved in the positive territory with BSE benchmark rising with 92 points and NSE benchmark rose by 29 points. The benchmarks were in a downward trend in initial hours of the market due to the unchanged rate cuts by RESERVE BANK OF INDIA. However, the stability in the European markets ahead of European Central Bank (ECB) meet helped Indian Markets to bounce back. A high buying pressure was seen in index heavyweights IT, Realty and FMCG sector. WIPRO, ONGC , HDFC and GAIL surged by 1%-2% whereas BHARTI AIRTEL, SBIN , JINDAL STEEL & POWER and M&M tanked by 1%-2%.
The SENSEX closed 92 points up at 17,236 and the NIFTY stood at 5,229 up by 29 points.
BSE Small-Cap index was up .11% while the BSE Mid-Cap index finished .77% up.CNX MIDCAP 50 index was up .80% and S&P CNX 500 was up around .55%.
Nifty Gainers
Today’s nifty top gainer were
GRASIM changed 3.96% with 2, 44, 821 volumes
ONGC changed 3.83% with 27, 50, 557 volumes
DLF changed 3.62% with 84, 44, 077 volumes
Nifty Losers
Today’s nifty top losers were
BHARTI AIRTEL with volume 79, 47, 206 and changed -2.70%
BANKBARODA with volume 17, 76, 809 and changed -2.65%
HEROMOTO with volume 2, 50, 491 and changed -1.30%
Havells India Q1 Net dips 11% to Rs 71.3 cr.
Electrical goods maker Havells India today reported 10.54 per cent fall in its consolidated net profit for the quarter ended June 30 at Rs 71.3crore due to adverse conditions in global markets.The company had posted a net profit of Rs 79.7crore in the corresponding period last year.
Spice Jet returns to profits in Q1, stock up 16%.
After five straight quarterly losses, low fare carrier Spice jet has posted a Rs 56crore profit for the June quarter. The stellar performance of the company can, well be attributed to higher passenger load factors and better revenues per passenger. Had the Rupee not appreciated against the dollar, the carrier would have posted better results. Sales of the company rose 51% to Rs 1,407 year-on-year
OCK MARKET REVIEW: 27TH JULY 2012
BSE SENSEX and NIFTY ended on a firm note with SENSEX rising 183 points to 16,823.14 and NIFTY gained 53 points and closed at 5,096.65. The fall in the European markets have impacted the Indian markets as European markets have rallied quite sharply yesterday. The top NIFTY gainers include STERLITE, TATAMOTORS and TATA STEEL with 4.5%, 4.4% and 3.7% gains respectively. However, country’s largest lender SBIN plunged more than 3% whereas its rivals ICICI BANK and HDFC BANK gained 2% and 0.4% respectively. State-owned power equipment manufacturer BHEL was down 1.7% whereas two-wheeler major HEROMOTO CORP tanked 2%.
The SENSEX closed 215 points up at 16,855 and the NIFTY stood at 5,099 up by 56 points.
BSE Small-Cap index was down -.98% while the BSE Mid-Cap index finished -.83% down.CNX MIDCAP 50 index was down -.49% and S&P CNX 500 was up around .76%.
Nifty Gainers
Today’s nifty top gainer were
STER changed 4.57% with 58, 73, 553 volumes
TATA STEEL changed 4.40% with 51, 03, 017 volumes
TATA MOTORS changed 3.78% with1, 17, 13, 519 volumes
Nifty Losers
Today’s nifty top losers were
PNB with volume 33, 78, 892 and changed -4.95%
SBIN with volume 42, 08, 734 and changed -3.54%
BANKBARODA with volume 7, 92, 256 and changed -2.49%
GDP growth unlikely to revive in FY13: ICRA
Firm interest rates and substantial Government borrowing to exert pressure on Bank credit offtake in FY 13; GDP growth unlikely to revive in current financial year, says ICRA. A hardening of inflationary expectations as a result of a weaker-than-normal monsoon performance has emerged as a significant risk.
RIL, BP cut investment in MA oilfield to USD 1.96 bn
Reliance Industries and its British partner BP plc have revised downwards the investment required for developing the MA oilfield in the predominantly gas-rich KG-D6 block by USD 276 million to USD 1.96 billion. RIL had in 2006 proposed to invest USD 2.234 billion in developing the Dhirubhai-26 or MA discovery, the only oil find in the KG-DWN-98/3 (KG-D6) block in Krishna Godavari basin off the east coast.
ACC Q2 beats forecast, net profit up 26.5% to Rs 415 cr
ACC’s June quarter consolidated net profit shot up higher than expected 26.5% year-on-year to Rs 415 crore, while analysts on an average had expected around Rs 380 crore. Consolidated net sales during the same period rose 15% to Rs 2,919 crore while consensus expectations stood at Rs 2,757 crore.
Rupee seen rising to 54 or higher by Dec: RBS survey
The rupee is likely to rise to 54 or higher by December and to rise further to 53 by March 2013, according to an RBS survey of over 130 market participants. Positioning wise, about 58% of market participants believe that USD/INR is trading neutral, while 27% believe the market is short.
STOCK MARKET REVIEW: 26TH JULY 2012
BSE SENSEX and NIFTY closed negatively on the second consecutive session and was near day’s low on the back of weak cues from European peers and as traders exited open positions on the last day of the July F&O series. The 30-share BSE benchmark fell 108 points to 16,738.04 and the 50-share NSE benchmark was down 35 points to 5074.30. Index heavyweight ITC, Reliance Industries and Infosys dropped 1% each. Country’s largest lender SBI tanked 1.6% while its rivals ICICI BANK and HDFC BANK tanked by 0.6% each. Commercial vehicle maker TATAMOTORS, software services exporter WIPRO and private power provider TATAPOWER tumbled 2% each. However, drug producer SUN PHARMA retained its top position in the buying list, rising by 2.6% while rival DR REDDY’s LABS gained 1.4%.
The SENSEX closed 188 points down at 16,657 and the NIFTY stood at 5,043 down by 67 points.
BSE Small-Cap index was down -2.06% while the BSE Mid-Cap index finished -2.14% down.CNX MIDCAP 50 index was down -2.63% and S&P CNX 500 was down around -1.41%.
Nifty Gainers
Today’s nifty top gainer were
AMBUJA CEMENTS changed 3.24% with 95, 58, 247 volumes
NTPC changed 1.23% with 29, 02, 591 volumes
BAJAJ-AUTO changed 1.19% with 7, 18, 970 volumes
Nifty Losers
Today’s nifty top losers were
PNB with volume 8, 12, 104 and changed -4.44%
DLF with volume 44, 99, 892 and changed -4.10%
TATA POWER with volume 42, 35, 105 and changed -3.53%
Muted Q1 shouldn't be considered indicator for IT ind
Software industry body Nasscom today said less-than-expected first quarter results by top IT companies should not be considered as an indicator for the whole industry, whose fundamentals are still "strong". Replying to a query on the first quarter results of top companies not meeting industry expectations, Nasscom President Som Mittal said, "I think it is wrong for us to evaluate things based on one quarter's performance.
High costs, low fares causing airline losses: Naresh Goyal
teep operational costs and low air fares in India are causing sustained losses for domestic airlines, Jet Airways chief Naresh Goyal said today. "While the growth outlook for our industry is very promising, Indian carriers are faced with stiff headwinds, both from the cost and revenue standpoint, which pose a serious risk to realising the potential.
Will sustain current revenue growth momentum: KPIT Cummins
IT company KPIT Cummins reported an over two-fold rise in consolidated net profit at Rs 53.55 crore for the June quarter against Rs 24.39 crore posted in the same period a year ago. Revenues during first quarter of this financial year rose by 82.6% to Rs 538.26 crore compared to Rs 294.78 crore in the corresponding period in FY2011-12.
HCL Tech will reach out for new deals by Oct-Nov
HCL Technologies , India's fourth-largest software services exporter, reported a 67.3% rise in quarterly net profit, just shy of expectations, after winning more outsourcing orders amid the global economic uncertainty.
OCK MARKET REVIEW: 25TH JULY 2012
BSE SENSEX and NIFTY both benchmarks closed on negative grounds. The BSE benchmark fell 72.36 points to 16,844.72 and the NSE benchmark was down 17.15 points to 5109. The Indian rupee too recovered from day’s low of 56.41 to 56.21. HCL TECH was amongst the top gainers with 6.7% change due to whopping Q1 results. Cigarette major ITC rallied 1.3% while private sector lender HDFC BANK gained 0.6%. Shares of ICICI BANK, TCS and INFOSYS turned positive. FMCG major HUL remained lower by more than 2%, L&T and public sector lender bank SBI went down .75%. Among metal and mining stocks, Sterlite, Hindalco, Coalindia, and Tatasteel dropped by 1-2% whereas Jindalsteel tanked 4%.
The SENSEX closed 43 points up at 16,921 and the NIFTY stood at 5,128 up by 10 points.
BSE Small-Cap index was up .19% while the BSE Mid-Cap index finished .16% up.CNX MIDCAP 50 index was up .46% and S&P CNX 500 was up around .24%.
Nifty Gainers
Today’s nifty top gainer were
HINDUNILVR changed 7.57% with 1, 24, 34, 286 volumes
RANBAXY changed 3.03% with 5, 42, 436 volumes
STER changed 2.71% with 59, 85,485 volumes
Nifty Losers
Today’s nifty top losers were
WIPRO with volume 36,15,888 and changed -3.07%
SAIL with volume 30, 64,007 and changed -2.80%
LT with volume 17, 84,131 and changed -1.75%
Diesel price hike? Not before vice-prez polls, say sources
Diesel price hike seems difficult before the vice-presidential poll, say oil ministry sources. Sources also inform that the UPA government is yet to consult allies on the possible diesel price hike. Diesel prices are highly subsidised in India because of its extensive use in commercial transport as well as the farm sector; any increase in diesel price is likely to bring in political disaffection for the government.
Eicher to enter personal vehicle segment
Commercial vehicle maker Eicher Motors today announced its entry into the personal vehicle segment by tying up with the US-based Polaris Industries to form an equal joint venture, which will invest Rs 250 crore in the next three years to set up a manufacturing facility.
Lupin Q1 PAT up 33.5% to Rs 280 cr, stock up 2.5%
Drug producer Lupin reported strong numbers on all parameters in the quarter ended June 2012. Profit after tax grew by 33.5% year-on-year 80.2% quarter-on-quarter to Rs 280.4 crore in the first quarter of financial year 2012-13. Company benefitted from currency depreciation, hence that added 7% to the topline and resulted in a 44% growth; without currency depreciation, revenues grew by 37%.
STOCK MARKET REVIEW: 24 JULY 2012
BSE SENSEX and NIFTY traded slightly higher for most of the time on the session and ended almost flat as traded over the global uncertainties. Indian equities bounced back as index heavyweight Hindustan Unilever surged almost 7.5 percent ahead of its strong Quarterly numbers as company’s net profit doubled year-on-year to rupees 1331.2 crore in JUNE quarter. From the local end, expectations over the hike in diesel prices supported the markets a bit which is to be increased after the Voice-president election. However India’s biggest Oil and Gas producers Reliance Industries and ONGC gained around 1 percent each along with banking giants State Bank of India and ICICI Bank moved up 0.1% to 0.4% while Wipro slipped more than 3 percent over its poor quarterly earnings. Sail and L&T further created the pressure over the gains.
The SENSEX closed 40 points up at 16,918 and the NIFTY stood at 5,128 up by 10 points.
BSE Small-Cap index was up 0.13% while the BSE Mid-Cap index finished 0.16% up.CNX MIDCAP 50 index was up 0.48% and S&P CNX 500 was up around 0.25%.
Nifty Gainers
Today’s nifty top gainer were
HINDUNILVR changed 7.57% with 1, 24, 34,286 volumes
RANBAXY changed 3.03% with 5, 42,436 volumes
STER changed 2.71% with 59, 85,485 volumes
Nifty Losers
Today’s nifty top losers were
WIPRO with volume 36, 15,888 and changed -3.07%
SAIL with volume 30, 64,007 and changed -2.80%
L&T with volume 17, 84,131 and changed -1.75%
Govt puts together contingency plan for economy: Sources
he government has put together a contingency plan to revive the economic growth of the country. Government sources told CNBC-TV18 that the government may consider swap lines and PSU tax-free bonds to boost the economy. The government has put together a contingency plan to revive the economic growth of the country. Government sources told that the government may consider swap lines and PSU tax-free bonds to boost the economy.
FDI in retail: Govt to face stiff opposition in parliament
overnment is likely to face stiff opposition on FDI in retail in the Monsoon session of Parliament beginning on August 8. An indication to this effect was given by Sharad Yadav, who said that there will be unanimity within the NDA on the issue and that his party will also reach out to other parties including UPA allies to put up united fight against this "biggest assault" on Indian economy.
IT spending in India to grow at 16.3% to $43.57bn: IDC
IT spending in the country is expected to grow by 16.3% to USD 43.57 billion (Rs 2.43 lakh crore) in 2012, on increased spending by SMEs and rising investment in emerging technologies, research firm IDC today said. According to IDC's report "India IT Market Overview Report - 2012", the total IT market in India is expected to grow to USD 43.57 billion in 2012 from USD 37.46 billion (Rs 2.09 lakh crore) in 2011.
HUL Q1 net profit beats estimates, up 112% to Rs 1331.2 cr
FMCG major Hindustan Unilever 's (HUL) net profit grew higher-than-expected by 112.31% year-on-year to Rs 1,331.2 crore in the quarter ended June 2012, which was led by other income and exceptional items during the quarter. Analysts had expected a net profit of Rs 710 crore for the quarter.
STOCK MARKET REVIEW: 20 JULY 2012 BSE SENSEX and NIFTY traded slightly lower on FRIDAY shed previous gains as traded over the weak global cues. NIFTY struggled near the 5200 levels for the whole day and managed to hold the level closed just above at 5208. Negative opening of European markets further dragged the market down. Index heavyweight and refinery major Reliance Industries closed 0.70 percent down ahead of its quarterly numbers today posted a 3 percent sequential rise in net profit. However Capital goods, Reality tanked almost 1 percent along with Banking stocks as Banks fell after Reserve Bank of India recommended strict regulations on loan restructuring while India’s largest two wheeler maker Bajaj-auto, along with Maruti and Asian Paints remained on buying radar of the investors.
The SENSEX closed 120 points down at 17,158 and the NIFTY stood at 5,205 down by 35 points.
BSE Small-Cap index was down 0.11% while the BSE Mid-Cap index finished 0.23% down.CNX MIDCAP 50 index was down 0.34% and S&P CNX 500 was down around 0.54%.
Nifty Gainers
Today’s nifty top gainer were
BAJAJ AUTO changed 2.73% with 11, 68,705 volumes
MARUTI changed 2.65% with 45, 53,174 volumes
ASIANPAINT changed 2.23% with 4, 20,649 volumes
Nifty Losers
Today’s nifty top losers were
BHEL with volume 63, 35,549 and changed -3.02%
KOTAKBANK with volume 13, 61,386 and changed -2.82%
DRREDDY with volume 11, 33,580 and changed -2.75%
Maruti violence will not affect industrial environment: CII
Confederation of Indian Industry today said the violence at a Maruti plant at Manesar, which claimed the life of a senior company official, would not have any impact on the industrial growth in the long run. "The incident is extremely unfortunate but this is not the case which is only happening in India. This happens all over.
RIL net to dip on weak petchem margin, falling KG-D6 output
Reliance Industries (RIL) is expected to post a Year-on-Year (y-o-y) decline in profit for the third consecutive quarter (April-June) as margins in its core businesses of refining and petrochemicals continue to be under pressure. However, as has been the case in the last couple of quarters, analysts expect the company's profit to receive some support from other income, which is largely derived from treasury operations utilizing the excess cash on its books.
Tata Power completes second 800 MW unit of Mundra UMPP
Tata Power has completed construction of the second 800 MW unit of its flagship Mundra ultra mega project in Gujarat, taking the company's overall capacity to over 6,000 MW. The country's largest power producer today said it has synchronised the second 800 MW of 4,000 MW Mundra Ultra Mega Power Project (UMPP).
Shriram Transport Finance plans to raise Rs 600cr via NCDs
Non-banking finance company Shriram Transport Finance today announced the launch of a Rs 300-crore debt issue, with a greenshoe option of equivalent amount, will open for subscription on July 16. This is the fourth debt issue from the company. As much as 80% of the non-convertible debenture (NCD) issue is reserved for retail investors with half being reserved for small individual investors, the company's managing director Umesh Revankar told reporters here.
STOCK MARKET REVIEW: 19TH JULY 2012
BSE SENSEX and NIFTY traded slightly higher and extended the gains for the second consecutive session as traded over the positive global cues. Oil and Gas stocks topped the buying list today as Diesel price hike expectations boosted the sentiment after the presidential elections today. However index heavyweight Infosys, BHEL, BPCL and TCS led the rally as INFY and BPCL surged approximately 3 percent on the session. BHEL and TCS jumped 2.48 percent and 0.4 percent respectively while India’s largest car maker Maruti tanked nearly 9 percent on THURSDAY as strike at its Manesar plant and telecom giant Bharti Airtel fell 2 percent ahead of EGoM meet tomorrow where government may decide spectrum reserve price.
The SENSEX closed 93 points up at 17,274 and the NIFTY stood at 5,242 up by 26 points.
BSE Small-Cap index was up 0.37% while the BSE Mid-Cap index finished 0.12% up.CNX MIDCAP 50 index was up 0.28% and S&P CNX 500 was up around 0.42%.
Nifty Gainers
Today’s nifty top gainer were
CAIRNS changed 3.02% with 46, 87,695 volumes
BPCL changed 2.99% with 12, 16,614 volumes
INFOSYS changed 2.80% with 13, 63,292 volumes
Nifty Losers
Today’s nifty top losers were
MARUTI with volume 83, 44,781 and changed -9.19%
BANKBARODA with volume 10, 19,416 and changed -3.05%
KOTAKBANK with volume 29, 73,758 and changed -2.96%
Govt examining RIL-BP position, will take right approach
The government today said discussions are on with Reliance Industries and its partner BP Plc which have warned of further drop in KG-D6 gas output in the absence of investments approvals by the Oil Ministry, and maintained that it would take 'right approach' and 'suitable decision' on the issue.
CCEA likely to take up SAIL disinvestment proposal tomorrow
The Cabinet Committee on Economic Affairs (CCEA) is likely to consider tomorrow a proposal for disinvesting government's 10.82% stake in Steel Authority of India (SAIL), official sources said. The proposal, mooted by the Department of Disinvestment, was deferred in the last week's meeting of CCEA as Steel Minister Beni Prasad Verma and Steel Secretary D R S Chaudhary were not in the city.
"Dr Reddy launches Atorvastatin calcium tablets in US
Pharma major Dr Reddy's Laboratories today announced that it has launched Atorvastatin calcium tablets, a bioequivalent generic version of Lipitor tablets in the US market. The company has launched Atorvastatin calcium tablets in 10 mg, 20 mg, 40 mg and 80 mg, a bioequivalent generic version of Lipitor tablets in the US market on July 17.
Govt looking at LPG subsidy cut
The government is close to taking a decision on capping the number of subsidised LPG cylinders to "econonomically not weaker" sections to bring down the subsidies by up to Rs 10,000 crore annually, Minister of State for Petroleum and Natural Gas R P N Singh said today. The government is also looking at partial decontrol of diesel, he said.
INDIAN FACE
BSE SENSEX and NIFTY traded negative for the fifth consecutive session on TUESDAY and ended almost flat as investors booked profits. Markets started the session with gap up opening of more than 100 points over the positive European cues but could not hold and slipped later led by the TATA group shares.
Index heavy weight Reliance Industries also slipped after company reported continuous fall in gas output at its KG-D6 basin and may stop by 2015if fresh capex is not announced.
However Tata Group shares topped the selling list as TCS tanked 2 percent, Tata Motors 1.5 percent and Tata Steel 0.7 percent well supported by two wheeler major Bajaj-Auto, 2.45 percent down on the session.
GLOBAL FACE
Asian stock markets traded higher on the session and extended the gains as short covering pulled the markets and investors made fresh positions over the hopes to get further monetary stimulus as lower than expected retail sales number raised the hopes.
European markets traded mixed on TUESDAY as investors waited for the Fed chairman Ben Barnanke’s view over the total economy growth outlook scheduled later in the day. FTSE traded 0.32% down while DAX and CAC traded 0.51% and 0.40% up respectively.
U.S. Stock index futures traded higher as hope over the better than expected corporate earnings and inflation data cheered the investors along with the chances of U.S. to go for monetary stimulus.
INDIAN MARKET | ||
INDICES | CLOSE | PREVIOUS |
SENSEX | 17,105.30 | 17,103.31 |
NIFTY | 5,192.85 | 5,197.25 |
ASIAN MARKET | ||
INDICES | CLOSE | PREVIOUS |
NIKKEI | 8,755.00 | 8,724.12 |
HANG SENG | 19,455.33 | 19,121.34 |
KOSPI | 1821.96 | 1817.79 |
SACTORIAL INDICES | ||
INDICES | CLOSE | CHANGE (%) |
CNX 100 | 5,088.40 | -0.15 |
S&P CNX DEFTY | 3,267.90 | 0.28 |
S&P CNX 500 | 4,123.05 | -0.28 |
CNX MIDCAP | 7,334.45 | -0.76 |
BANK NIFTY | 10,558.05 | -0.10 |
TOP GAINERS | ||
SCRIPT | CLOSE | CHANGE (%) |
WIPRO | 363.00 | 2.04 |
DRREDDY | 1,705.10 | 1.78 |
ITC | 255.80 | 1.49 |
SUNPHARMA | 628.95 | 1.20 |
TOP LOSERS | ||
SCRIPT | CLOSE | CHANGE (%) |
RELINFRA | 516.00 | -3.49 |
BPCL | 376.55 | -3.10 |
BAJAJ-AUTO | 1,446.00 | -2.72 |
AXISBANK | 1,021.40 | -2.38 |
MARKET MOVERS UPSIDE | ||
SCRIPT | CLOSE | CHANGE (%) |
COALINDIA | 354.30 | 1.1 |
ITC | 255.50 | 1.4 |
HDFCBANK | 583.25 | 0.1 |
BHARTIARTL | 324.15 | 1.4 |
MARKET MOVERS DOWNSIDE | ||
SCRIPT | CLOSE | CHANGE (%) |
ONGC | 283.90 | [1.1] |
TCS | 1,185.90 | [1.8] |
RELIANCE | 719.35 | [0.1] |
SBIN | 2,199.10 | [0.0] |
FII & DII ACTIVITY | ||
INSTITUTION | NET BUY (CR.) | NET SELL (CR) |
FII | 2088.27 | 1613.32 |
DII | 777.45 | 1043.66 |
NSE TOTALS | ||
INDICES | ADVANCES | DECLINES |
NIFTY | 17 | 33 |
BANK NIFTY | 5 | 6 |
STOCK MARKET REVIEW: 18 JULY 2012
BSE SENSEX and NIFTY traded negative in opening hours but bounced back later towards the closing cheered over the positive European cues. NIFTY closed above the 5200 important level trading in a tight range between 5150-5300 since last two weeks over the lack of major global and domestic front. Indian rupee depreciated by 32 paise to 55.43 against the U.S. DOLLAR towards the last hours of trading. However Larsen & Toubro, TCS, led the rally along with India’s no 1 two wheeler maker Bajaj-Auto as rallied over 5 percent on the session. Another Auto major Heromoto Company ended with the 0.7 percent gains over the positive Quarter 1 results to be announced tomorrow while Punjab National Bank, Tata Motors and DRREDDY led the downside.
The SENSEX closed 80 points up at 17,185 and the NIFTY stood at 5,217 up by 24 points.
BSE Small-Cap index was up 0.29% while the BSE Mid-Cap index finished 0.53% up.CNX MIDCAP 50 index was up 0.29% and S&P CNX 500 was up around 0.41%.
Nifty Gainers
Today’s nifty top gainer were
BAJAJAUTO changed 5.32% with 26, 26,124 volumes
TATAPOWER changed 3.34% with 25, 12,483 volumes
SESAGOA changed 2.91% with 21, 83,075 volumes
Nifty Losers
Today’s nifty top losers were
PNB with volume 6, 84,061 and changed -2.98%
TATAMOTOR with volume 1, 17, 71,162 and changed -1.95%
BANKBARODA with volume 9, 91,427 and changed -1.95%
Axis Bank Q1 net up 22% at Rs 1,153 cr; NPA rises
India's third largest private sector lender Axis Bank 's first quarter (April-June) net profit rose more than 22% year-on-year to Rs 1,150 crore, boosted by a robust loan book that grew nearly 30% y-o-y to Rs 1.71 lakh crore. A poll estimate by CNBC Awaaz had showed 20% rise in net profit on an average. Even if, the Q1 net was slighly higher than the expectation but Axis Bank shares fell more than 2% in the late afternoon trade on asset quality concern.
CIL may finalise Rs 1,700 cr explosive contract on July 31
State-run Coal India 's board may finalise on July 31 a massive Rs 1,700-crore contract for procuring explosives for mining needs of its subsidiaries apart from resolving fuel supply pact row with power firms. "List of successful bidders for explosive supplies worth Rs 1,700 crore for the next three years for its subsidiaries will be placed before the CIL board for a final nod," a top official told.
Earnings to remain strong going ahead: Bajaj Finserv
In an interview Sanjiv Bajaj, managing director, Bajaj Finserv & Investments pointed out that the strong profit growth seen in life insurance, general insurance and Bajaj Finance helped the company to clock a rise of 51% in net profit. Bajaj Finserv’s consolidated net profit for the first quarter of FY13 stood at Rs 195 crore versus Rs 129 crore, year-on-year, YoY. Consolidated income from operations was at Rs 927 crore against Rs 613 crore, YoY.
SC directs Essar Oil to pay Rs 1-k cr to Guj Govt
The Supreme Court has directed Essar Oil to pay dues of Rs 1,000 crore as sales tax to the Gujarat government by July 30. After the payment has been made, the coercive action already taken by Gujarat Government will be stayed.
STOCK MARKET REVIEW: 17JULY 2012
BSE SENSEX and NIFTY traded negative for the fifth consecutive session on TUESDAY and ended almost flat as investors booked profits. Markets started the session with gap up opening of more than 100 points over the positive European cues but could not hold and slipped later led by the TATA group shares. Index heavy weight Reliance Industries also slipped after company reported continuous fall in gas output at its KG-D6 basin and may stop by 2015if fresh capex is not announced. However Tata Group shares topped the selling list as TCS tanked 2 percent, Tata Motors 1.5 percent and Tata Steel 0.7 percent well supported by two wheeler major Bajaj-Auto, 2.45 percent down on the session. Downside was well weighted by Capital goods, Steels, Auto and Oil & Gas stocks while Drreddy, Sunpharma and FMCG major ITC capped the falls.
The SENSEX closed 2 points up at 17,105 and the NIFTY stood at 5,192 down by 4 points.
BSE Small-Cap index was down 0.86% while the BSE Mid-Cap index finished 0.82% down.CNX MIDCAP 50 index was down 0.76% and S&P CNX 500 was down around 0.28%.
Nifty Gainers
Today’s nifty top gainer were
WIPRO changed 2.04% with 15, 21,834 volumes
DRREDDY changed 1.78% with 3, 84,352 volumes
ITC changed 1.49% with 31, 34,473 volumes
Nifty Losers
Today’s nifty top losers were
RELINFRA with volume 19, 82,455 and changed -3.49%
BPCL with volume 15, 60,275 and changed -3.10%
India won't meet $1trillion infra investment target: Montek
Planning Commission today said India will not be able to achieve USD 1 trillion target for investment in the infrastructure sector during the 12th Plan (2012-17) in view of lower economic growth prospects. "The earlier figure was based on the 9% growth target and if the growth target is less, it (investment target) does not have to be same number," Planning Commission Commission Deputy Chairman Montek Singh Ahluwalia said.
FMCG cos may not see price increases in near term: Marico
Delay in monsoon in many parts of the country has pushed Kharif crop sowing. There has been a 19% (YoY) decline in areas where major crops are sown. "As far as we are concerned, our input material is not exactly within this coverage of monsoon because most of the crops are grown elsewhere," Saugata Gupta, CEO, Marico told.
22% monsoon deficiency; rains to pick up post July 20: IMD
While the entire country is hoping for rains, the Director of the Indian Meteorological Department, SC Bhan provided some hope saying that the monsoon is expected to pick up post July 20. Bhan said, "Right now the monsoon as a whole is deficient by 22% and for the next 3-4 days, rainfall activity would be confined to the north east, eastern and central India, including Madhya Pradesh, Chattisgarh, eastern Uttar Pradesh.
Oilcos raise jet fuel prices by 1.7%
Snapping a three-month trend of price cuts, state-owned oil firms today hiked jet fuel rates by 1.7% in line with firming international oil rates. The price of aviation turbine fuel (ATF), or jet fuel, in Delhi was hiked by Rs 1,039.1 per kilolitre (kl), or 1.7%, to Rs 62,208.18, according to Indian Oil Corp , the nation's largest oil firm.
STOCK MARKET REVIEW: 16TH JULY 2012
BSE SENSEX and NIFTY traded in a tight range bound session on MONDAY and extended the falls in later trading hour ahead of FRIDAY and took the NIFTY to slip below the important 5200 level over the weak monsoon worries. According to the weather department monsoon may miss the forecast in JULY and may be insufficient in September although inflation eased in June and data out at 7.25 percent against expected 7.62 percent and previous month’s 7.55 percent. Indian rupee appreciated by 30 paise in early trading hours, declined 4 paise to 55.18 against the U.S. DOLLAR. However Metals and Technology Stocks took the heavy fall over the index and metal index and IT index tanked more than 2 percent each while Pharma and Banking stocks capped the downside.
The SENSEX closed 110 points down at 17,103 and the NIFTY stood at 5,194 down by 33 points.
BSE Small-Cap index was down 0.61% while the BSE Mid-Cap index finished 0.62% down.CNX MIDCAP 50 index was down 0.66% and S&P CNX 500 was down around 0.57%.
Nifty Gainers
Today’s nifty top gainer were
BHARTIARTL changed 3.80% with 58, 04,296 volumes
MARUTI changed 1.73% with 5, 99,621 volumes
DRREDDY changed 1.72% with 3, 11,343 volumes
Nifty Losers
Today’s nifty top losers were
TATASTEEL with volume 40, 09,844 and changed -4.26%
TCS with volume 18, 10,070 and changed -3.69%
TATAMOTORS with volume 86, 47,941 and changed -3.03%
PM sets up committee to frame GAAR guidelines by Sept 30
Within a fortnight of the Finance Ministry issuing draft guidelines on GAAR, Prime Minister Manmohan Singh today set up a committee to prepare fresh norms on the controversial tax provision to bring "greater clarity" and prepare a roadmap by September 30 for its implementation.
Growing global eco uncertainties: Export dips 5.45% in June
India's exports contracted for the second consecutive month in June by 5.45% year-on-year to USD 25 billion in the wake of growing economic uncertainties in developed economies. Reflecting slowdown in the domestic economy, imports too dipped sharply by 13.6% to USD 35.37 billion from USD 40.8 billion in June 2011, resulting in a narrower trade deficit of USD 10.3 billion during the month.
HDFC Bank Q1 net up 31% on higher other income
India's second largest private sector lender HDFC Bank 's first quarter net profit rose nearly 31% year-on-year to Rs 1,417 crore, Reserve Bank may not cut interest rates in its month-end policy review to boost industrial growth which slipped to 2.4% in May, say experts. "I do not think there will be either infusion of liquidity or cut in policy rates by the RBI in its quarterly policy review," HDFC Bank chief economist Abheek Barua said.
LIC to invest Rs 60,000 cr in equities in FY13
India's largest domestic institutional investor - Life Insurance Corporation of India (LIC India) used the sluggish market conditions in FY12 to increase its exposure to equities. The Big Daddy of insurers invested Rs 49,960 crore during the year as against Rs 43,224 crore in FY11, an increase of 26% year-on-year.
OCK MARKET REVIEW: 13 JULY 2012
BSE SENSEX and NIFTY traded lower and ended almost flat as investors remained on the edge and eyed the inflation data scheduled to be announced on 16 JULY. Inflation numbers would play a key role to review the monetary policy by Reserve Bank of India and take the final decision accordingly. Experts are expecting June inflation in range of 7.55%-7.8% against the previous month’s 7.55% and core inflation in the range 4.9%-5.5% against 4.8% in MAY. Indian rupee outperformed today and appreciated smartly by 63 paise to 55.31 against the US DOLLAR. However TCS, Heromoto Company and banking leader HDFC Bank helped the market to recover while Jindal Steel and Power, Tata Power and SBI traded under pressure.
The SENSEX closed 22 points down at 17,209 and the NIFTY stood at 5,225 down by 11 points.
BSE Small-Cap index was down 0.12% while the BSE Mid-Cap index finished 0.23% down.CNX MIDCAP 50 index was down 0.37% and S&P CNX 500 was down around 0.26%.
Nifty Gainers
Today’s nifty top gainer were
HEROMOTOCO changed 1.22% with 1, 73,631 volumes
TCS changed 1.06% with 36, 07,822 volumes
HDFCBANK changed 1.02% with 23, 77,011 volumes
Nifty Losers
Today’s nifty top losers were
JINDALSTEEL with volume 22, 42,583 and changed -3.80%
HINDALCO with volume 62, 26,238 and changed -2.40%
TATAPOWER with volume 26, 12,550 and changed -2.18%
Diesel hike likely after July 19: Sources
India is likely to raise diesel prices after presidential polls on July 19, an oil ministry source said on Thursday, as the government attempts to cut the amount of money it pays out to keep prices lower. "This has been the thinking for quite some time," that a price rise could come after presidential polls, the source said, requesting anonymity.
Govt should restrict its role in banks, FIs to boards: RBI
The Reserve bank today expressed concern over the government "occasionally exercising" its ownership rights in banks and financial institutions through channels outside of their boards, and asked it to show exemplary corporate governance.
TCS rubs salt in Infosys' wounds with strong Q1 earnings
India's top software services provider Tata Consultancy Services reported slightly better-than-expected results for April-June, a stark contrast to its rival and number two Infosys , which had earlier in the day disappointed the street with a lower-than-expected quarterly profit and cut its full year US dollar revenue guidance sharply. TCS first quarter net profit rose 38% year-on-year (12% sequentially) to Rs 3,280.5 crore, while revenue was also up 38% (up 12% quarter-on-quarter) to Rs 14,869 crore.
RBI unlikely to cut rates but inflation holds key: Experts
All eyes are now on the May inflation data expected on July 16, as it is crucial to the Reserve Bank of India's monetary policy review. Economists feel that the central bank is unlikely to move key rates in its monetary policy review on July 31 even though industrial product output grew marginally higher at 2.4% in May from the month ago period. However, capital goods output fell 7.7%, while that for consumer goods grew 4.3%.
India GDP growth seen at 6.5% this year: ADB
The Asian Development Bank (ADB) cut its growth forecasts for developing Asia on Thursday, saying financial and economic problems in Europe and the United States had cut demand for exports, although Southeast Asia remained a bright spot. In a revision to its April outlook, the development bank cut its forecast for developing Asia, which excludes Japan, to 6.6% for 2012 from 6.9%. It also cut its forecast for 2013 to 7.1% from 7.3%.
HDFC
Q1 net profit up 19% on strong loan growth
India's largest housing finance company HDFC on Wednesday reported nearly 19% year-on-year growth in net profit at Rs 1,002 crore, supported by robust loan growth. A CNBC TV18 poll estimate was expecting a similar kind of bottomline growth. Net interest income (NII) or the difference between interest earned and paid out, increased at the same pace of about 19% y-o-y to Rs 1,526 cr.
Bankers appeal for further liquidity easing from govt: BoI
an effort to give a boost to the investment climate in the country, the Prime Minister's top economic advisor C Rangarajan had met representatives from the banking, mutual funds and insurance industries on Tuesday. Alok Mishra, CMD, Bank of India and Chairman of Indian Bank Association tells that the bankers are asking the government to boost investment sentiment.
Will TCS steal a march over Infy yet again?
India's top IT services provider Tata Consultancy Services is expected to put up a better first quarter performance than rival Infosys which will announce its first quarter results early Thursday. The two companies have had a contrasting performance over the last few quarters, and the Tata Group company is expected to continue to outperform its Bangalore-based rival.
SBI sheds gains on lower forecast for FY13 loan growth
Country's largest lender State Bank of India (SBI) erased early gains on Wednesday after the bank presented a little tepid outlook on its loan growth. In its analyst meet, SBI said it expected loan growth at 16-17% in FY13 as against its initial target of 19-20%. According to the bank, non-performing assets (NPAs) are likely to rise by Rs 3,000-4,000 crore in the first quarter of current financial year. But it sees no major stress on asset quality in FY13
IndusInd Bank expects 25-30% growth rate in FY13
IndusInd Bank declared a better than expected first quarter result on Tuesday. The company reported a jump in net profit at Rs 236 crore supported by higher net interest income (NII) and other income growth. NII grew 24.1% y-o-y to Rs 484 crore while other income shot up more than 48% to Rs 319 crore during the quarter.
HCL to grow faster than competition: Nayar
Vineet Nayar, Vice Chairman and CEO of one of India's big five technology companies, HCL Technologies, joined the company as a management trainee in 1985. Nayar is also best-selling author of a management book which is called Employees First, Customers Second.
IT majors roll out hikes ahead of earnings season
As the results season comes around, there is news of IT majors rewarding their employees. Big boy, Infosys , has started the process of salary hikes and promotions, albeit to a very small percentage of its employees. Sunanda Jayaseelan reports on how increments and promotions in the sector have been this year.
Banks net to plunge 11% QoQ: StanChart Secs
Led by state-run banks which are set to report increased strains on asset quality, the banking sector is set to see profits decline by 11% in Q1 sequentially but a 43% spike in the same on an annualised basis, says a StanChart Securities report. The state-run banks will see increased strains on their asset quality and more loan recasts pulling down their first quarter profit by 14 percent quarter on quarter (QoQ), though there will a full 53% spike in post-tax profit on an annualised basis, says the report.
IndusInd Bank Q1 net profit up 31% at Rs 236 cr
Kickstarting the first quarter (April-June) earnings, private sector lender IndusInd bank reported a forecast beating 31% year-on-year jump in net profit at Rs 236 crore supported by higher net interest income (NII) and other income growth. A CNBC TV18 poll expected the bank to post 27% growth in net profit in Q1.
SAIL, Kobe ink final pact for Rs 1,500cr plant in WB
India's largest steel maker SAIL today inked the final pact with Japan's Kobe Steel to set up a 500,000-tonne plant in West Bengal to produce a key steel making raw material. The facility entailing an investment of Rs 1,500 crore would use Kobe's specialised technology ITmK3 (iron making technology mark three) to produce nuggets to be shared equally by the partners for captive use, an official release said.
STOCK MARKET REVIEW: 11 JULY 2012 BSE SENSEX and NIFTY traded in a range bound session on WEDNESDAY and ended in red erased more than half of yesterday’s gains as investors remained on edge and booked profits. Due to weak global cues investors remained cautious and avoided fresh positions in the market. Country’s largest software services exporter TCS and IT giant INFOSYS surged almost 1 percent in the morning traded but erased the gains later ahead of 1st Quarter earnings result and ended almost flat. However banking stocks supported the market today as Kotak Bank and Bank of Baroda jumped 1.31 percent and 0.54 percent respectively while Reliance infrastructure and Auto major Tata Motors traded under pressure.
The SENSEX closed 129 points down at 17,489 and the NIFTY stood at 5,306 down by 40 points.
BSE Small-Cap index was down 0.24% while the BSE Mid-Cap index finished 0.12% down.CNX MIDCAP 50 index was down 0.32% and S&P CNX 500 was down around 0.60%.
Nifty Gainers
Today’s nifty top gainer were
LT changed 1.32% with 16, 71,311 volumes
KOTAKBANK changed 1.31% with 10, 01,497 volumes
BPCL changed 0.92% with 7, 79,549 volumes
Nifty Losers
Today’s nifty top losers were
HINDALCO with volume 60, 43,053 and changed -3.25%
RELINFRA with volume 17, 99,312 and changed -2.64%
TATAMOTORS with volume 86, 99,925 and changed -2.23%
STOCK MARKET REVIEW: 10 JULY 2012
BSE SENSEX and NIFTY traded higher and bounced back on the session got a recovery of 1 percent over the strong global cues. Investors looked keen and participated in the market made fresh positions as hoped that consolidation phase is now going to end and markets may got the rhythm very soon. Indian rupee appreciated quite sharply on TUESDAY gained 44 paise against the DOLLAR at 55.55. All sectoral indices closed in green like CAPITAL GOODS, AUTO, FMCG, METALS, BANKS and REALITY were up almost 1-1.75 percent. Private lender HDFC BANK surged 2 percent while another banking giant ICICI BANK gained 1.37 percent on the session.
The SENSEX closed 226 points up at 17,391 and the NIFTY stood at 5,345 up by 70 points.
BSE Small-Cap index was up 0.80% while the BSE Mid-Cap index finished 1.10% up.CNX MIDCAP 50 index was up 1.27% and S&P CNX 500 was up around 1.23%.
Nifty Gainers
Today’s nifty top gainer were
AXISBANK changed 4.07% with 31, 19,268 volumes
JPASSOCIAT changed 3.48% with 1, 30, 43,937 volumes
RELINFRA changed 3.09% with 21, 49,087 volumes
Nifty Losers
Today’s nifty top losers were
ACC with volume 4, 40,324 and changed -0.89 %
WIPRO with volume 14, 92,238 and changed -0.41%
inflation may curb RBI from cutting rates: Rangarajan
The Reserve Bank will find it difficult to cut interest rates in its monetary policy review later in the month in absence of softening of inflation, C Rangarajan said today. "I believe if the inflation rate, particularly non-food manufacturing, shows decline then there will be scope for RBI to adopt easier stance," he said on the sidelines an event organised by the National Housing Bank here.
FMCG cos Q1 growth seen strong; low rains cloud outlook
Fast moving consumer goods companies are expected to report on average around 20% year-on-year sales growth in the Jan-March quarter, helped by some softening of input costs and price hikes. However, all eyes and ears will be on the companies' outlook for the rest of the year as there is a growing concern that a deficient monsoon season could hurt consumer demand.
India likely to grow less than 6% in FY13: Survey
India's GDP growth will likely be less than 6% for FY13, according to 72% of respondents in a client survey by Standard Chartered Bank. 12% of the 125 corporate respondents said growth may be even less than 5%. However, 85% of the respondents said India can return to its pre-crisis growth levels of about 9% before 2016. The view is likely driven by the fact that the 2014 general elections will effect a change in the political scenario which will be more conducive to economic growth, the bank said in a note.
Jet Air bullish on enhancing ancillary revenues three-fold
At a time when Indian airlines are going through a financial crisis, market leader Jet Airways is planning to boost its ancillary revenues over three fold. This time around, the airline has tied up with Disney Channel's 'Jet Set Go' and will wrap a Boeing 737--800 aircraft with popular Disney characters Mickey and Friends.
STOCK MARKET REVIEW: 9 JULY 2012
BSE SENSEX and NIFTY traded lower on MONDAY as investors booked profits over the weaker global cues. Slower pace in global economy growth and sluggish U.S. job data along with poor inflation report from CHINA weighted over the sentiments as hit a 29 months low. Investors looked cautious over 5350-5400 level for NIFTY, expect difficult to breach unless a strong dose of positive news. Depreciating Indian rupee also added the fuel to the fire as tanked by 44 paise against the DOLLAR at 55.84 hitting an intraday low of 56.06. However TCS, DLF and DRREDDY tried to support the market on today’s session while Reliance Infra, Jindal Steel, and Ranbaxy Laboratories dragged the markets down.
The SENSEX closed 148 points down at 17,372 and the NIFTY stood at 5,275 down by 42 points.
BSE Small-Cap index was down 1.13% while the BSE Mid-Cap index finished 1.30% down.CNX MIDCAP 50 index was down 1.47% and S&P CNX 500 was down around 0.95%.
Nifty Gainers
Today’s nifty top gainer were
TCS changed 1.09% with 9, 56,383 volumes
DLF changed 1.09% with 71, 78,135 volumes
DRREDDY changed 0.29% with 2, 01,391 volumes
Nifty Losers
Today’s nifty top losers were
RELINFRA with volume 16, 81,882 and changed -3.56%
JINDALSTEEL with volume 15, 51,401 and changed -3.12%
JPASSOCIAT with volume 1, 19, 09,150 and changed -2.98%
Govt gives state-run oil retailers Rs 14K-cr as subsidy
State-run oil retailers received Rs 14,000 crore from the government since June-end as part of the subsidy payout for the financial year ended in March, three officials with direct knowledge said. The oil retailers received the amount in two tranches--one in June-end, and the other on July 3, the officials told Reuters on Friday.
StanChart upgrades short-term rating for rupee
Standard Chartered upgrades its short-term rating for the rupee to "neutral" from "underweight", and revises its end-September forecast to 56 from previous forecast of 57.50, adding the cross has "likely" hit the high for the year. StanChart cites India's authorities' steps to promote capital inflows and is more benign global environment in a report dated Thursday.
Audi, JM Fin likely to close Rs 426cr realty deal in Mumbai
In a major commercial real estate transaction, car maker Audi and financial services group, JM Financial are close to lapping up a Rs426 crore deal in central Mumbai, said in report. For the entire transaction JM Financial will be paying Rs 300 crore while Audi will be paying Rs 126 crore to Sheth Developers, add sources.
Here's how Oxycodone will help Glenmark boost sales
Phrama major Glenmark received new drug applications (NDA) status for Oxycodone from USFDA a long time back. Oxycodone is a drug used for severe pain. It is made out of poppy seeds and was first invented in 1916 in Germany. CNBC-TV18's Ekta Batra dips deep and gives details of how this would be positive for the company.
Mahindra enters Kenyan passenger vehicles market
Auto major Mahindra & Mahindra today introduced a range of utility vehicles, including XUV500 and Scorpio, in Kenya as it forays into the passenger segment in the African country. The company, which has been selling tractors in Kenya, has appointed Simba Corporation as its sole dealer there. "Mahindra & Mahindra today launched its international range of utility vehicles and pick-ups for the Kenyan market," the Indian auto major said in a statement.
Commodities fall most in two weeks on US, Europe economic woes.
Commodities fell the most in two weeks as signs of a faltering U.S. economy and escalating debt woes in Europe signaled less demand for energy and metals. The Standard & Poor’s GSCI Spot Index (MXWD) of 24 raw materials declined 2.4 percent to settle at 605.15 at 4:17 p.m. in New York, the biggest decline since June 21. Crude oil and gold dropped the most in two weeks, and industrial metals including lead, aluminum and copper slumped.
Crude Oil declines after employment report
Oil fell for a second day after a report showed U.S. employers hired fewer workers than forecast in June, increasing concern that slower economic growth will reduce demand for oil. Oil slipped after the Labor Department said payrolls rose 80,000, less than the 100,000 increase forecast by economists surveyed by Bloomberg. The International Monetary Fund will reduce its estimate for global growth this year
Copper Extends losses after weak us job data
The metal used in power and construction fell to a session low of $7,559.75 shortly after a report showed that U.S. employers hired at a dismal pace in June. Copper, however, was already in negative territory before the release of the U.S. job data because although China, the euro zone and Britain all loosened monetary policy on Thursday, investors were underwhelmed by the central banks' moves.
STOCK REVIEW: 6 JULY 2012
BSE SENSEX and NIFTY again traded in a tight range bound session for the fifth consecutive day over the weaker global cues. Even a rate cut of 25 basis points from European Central Bank could not cheer up the market and took it to end almost flat. Investors are waiting for some policy action or to establish new reforms from newly appointed finance minister Manmohan Singh to gear up the rally. Indian rupee depreciated by 54 paise or 1 percent on the second consecutive session against the DOLLAR at 55.48. However banking stocks supported the market today as banking major ICICIBANK ended with 1.65 percent gain while Metal stocks and Auto sector put the pressure over the gains.
The SENSEX closed 7 points down at 17,531 and the NIFTY stood at 5,317 down by 9 points.
BSE Small-Cap index was down 0.21% while the BSE Mid-Cap index finished 0.65% down.CNX MIDCAP 50 index was down 0.78% and S&P CNX 500 was down around 0.31%.
Nifty Gainers
Today’s nifty top gainer were
ICICIBANK changed 1.65% with 50, 88,500 volumes
M&M changed 1.41% with 18, 79,136 volumes
HINDUNILVR changed 1.17% with 19, 33,814 volumes
Nifty Losers
Today’s nifty top losers were
JINDALSTEEL with volume 30, 68,423 and changed -3.45%
SESAGOA with volume 22, 80,277 and changed -2.03%
MARUTI with volume 6, 10,988 and changed -1.97%
BoE injects 50bn pounds of monetary stimulus
The Bank of England launched a third round of monetary stimulus on Thursday, announcing it would restart its printing presses and buy 50 billion pounds of asset purchases with newly created money to help the economy out of recession. The move was widely expected after BoE Governor said last month the economic outlook had deteriorated since the BoE called a halt to its second round of asset purchases - also known as quantitative easing - in May.
China cuts interest rates for second time this year
China's central bank cut interest rates for the second time in two months on Thursday in the latest attempt to bolster slowing growth in the world's second-largest economy. Benchmark lending rates will be lowered by 31 basis points to 6%, and deposit rates will be reduced by 25 basis points to 3%, the People's Bank of China said in a statement on its website.
Analysts bullish on cement stocks despite CCI penalty
Cement company stocks are on an uptrend despite the Competition Commission of India (CCI) slapping a Rs 6000 crore penalty on them for forming a cartel. Analysts say, sector stocks are likely to see a correction as companies have left the CCI order overhang partly behind by deciding to contest the order.
SBI top deck recast: 5 deputy MDs, 18 chief GMs appointed
Oil ministry seeks PMO hand for nod on E&P blocks
According to our sources, the oil ministry has told the PMO that one of the big areas of concern is the lack of statutory clearances, which is impacting E&P activity in the country. In the past out of the 194 blocks that are under operation 79 of these blocks were impacted due to the lack of clearances. Right now 46 blocks amounting to USD 12 billion are impacted as they do not have clearances from the Ministry of Defence, the Air force, Navy and DRDO.
STOCK MARKET REVIEW: 5 JULY 2012
BSE SENSEX and NIFTY traded slightly higher in a range bound session for the fourth consecutive day. Markets are continuously trading flat as passing through the consolidation phase waiting for a trigger to get a certain direction. As for as, global front is considered, investors are keenly eying the European central bank’s decision to get the fresh monetary stimulus. Indian rupee depreciated by 57 paise on today’s session or by 1.07 percent at 55.05 against the DOLLAR. However Banking stocks led the rally as banking major ICICI BANK, HDFC BANK and KOTAK BANK surged 2.15%, 1.15% and 1% respectively while STERLITE, BAJAJ-AUTO and SESAGOA limited the gains.
The SENSEX closed 75 points up at 17,538 and the NIFTY stood at 5,327 up by 24 points.
BSE Small-Cap index was up 1.64% while the BSE Mid-Cap index finished 0.90% up.CNX MIDCAP 50 index was up 0.78% and S&P CNX 500 was up around 0.57%.
Nifty Gainers
Today’s nifty top gainer were
IDFC changed 2.96% with 84, 55,989 volumes
CIPLA changed 2.20% with 13, 01,510 volumes
ICICIBANK changed 2.15% with 37, 47,080 volumes
Nifty Losers
Today’s nifty top losers were
ASIANPAINT with volume 1, 45,217 and changed -2.39%
ONGC with volume 53, 20,465 and changed -1.79%
BAJAJ-AUTO with volume 5, 29,214 and changed -1.72%
K'taka mines may start ops from mid-Aug: Kalyani Steel
Karnataka has recommended the approval of eight iron ore mines. RK Goyal, MD of Kalyani Steel said that these mines had to follow the rehabilitation and resettlement process, in accordance with the Supreme Court directive. Although, they have been cleared, only some mines are expected to start operations from mid-August. Goyal anticipates all the mines, except Category C, to start operations soon.
Slowdown in orders due to weak macro environment: L&T
In an interview SN Subrahmanyan, whole-time director & senior executive vice president, L&T talks about the latest happening in his company and sector. He also outlines what the road ahead looks like for Larsen & Toubro.
DLF almost has Aman Resorts signed, sealed, delivered!
In a exclusive, Nayantara Rai learns from sources that DLF has entered into an MoU for selling Aman Resorts. This deal has been on the block for nearly two years. Sources say they have entered into an MoU with an international consortium which is made up of private equity players as well as hospitality players. The deal is said to be a minimum 15-20 days away. DLF is looking at a valuation of about Rs 1,700 crore.
Mfg plant to start production in 4 months: Videocon
Home appliances manufacturer Videocon Industries ' Rs 1500 crore manufacturing plant in Tamil Nadu would begin production in next three to four months, according to a top company official. The company, in 2010, inked a MoU with the Tamil Nadu Government for setting up the plant at an investment of Rs 1500 crore.
New plant's 400KV cables to raise margins by 1%: KEC Intl
STOCK REVIEW: 4 JULY 2012
BSE SENSEX and NIFTY traded in range bound session for the third consecutive session on WEDNESDAY after markets waited for the fresh trigger to extend the rally. Although European markets traded higher and ended at two months high over the speculation to get more policy stimulus from European leaders. From a broad market perspective NIFTY is expected to trade in range between 5100-5500 in near term but might be more to stocks specific. However Metal stocks topped the buying list today and remained on the radar of investors as metal index ended 2 percent up with metal giants JSW STEEL, JINDAL STEEL, SESAGOA and STERLITE up more than 3.50 percent each while ONGC, WIPRO and DRREDDY traded under pressure.
The SENSEX closed 26 points up at 17,452 and the NIFTY stood at 5,302 up by 15 points.
BSE Small-Cap index was up 0.91% while the BSE Mid-Cap index finished 0.84% up.CNX MIDCAP 50 index was up 0.51% and S&P CNX 500 was up around 0.39%.
Nifty Gainers
Today’s nifty top gainer were
STER changed 5.45% with 1, 36, 63,254 volumes
SESAGOA changed 3.92% with 90, 23,038 volumes
JINDALSTEEL changed 3.69% with 42, 54,285 volumes
Nifty Losers
Today’s nifty top losers were
ONGC with volume 36, 32,751 and changed -2.24%
ASIANPAINT with volume 1, 11,805 and changed -1.86%
DRREDDY with volume 5, 22,279 and changed -1.71%
Indian economy isn't broken, can be fixed in a year: Kamath
KV Kamath, Chairman of Infosys is rather bullish on Indian growth. He thinks that it is necessary to look at the past and the future. It is necessary for people to answer the questions about what it takes to sustain growth and accordingly, create the triggers for driving demand, growth and transformation.
Govt considering Rs 2,000 cr VC fund for pharma
The Government today said it is considering forming a venture capital fund of Rs 2,000 crore to promote research and development (R&D) in the pharmaceutical sector. "We are considering a proposal of venture capital fund of Rs 2,000 crore for drug industry. We are talking with Exim Bank for this," Commerce and Industry Minister Anand Sharma told reporters here.
LIC hikes stake in Cairn India to over 5%
Life Insurance Corp of India (LIC) has hiked its stake in Cairn India to over 5% through open market route that are about 5% costlier than the price at which the firm's former promoter, Cairn Energy has been selling its shares. LIC, according to regulatory filing to the stock exchanges, on June 22 bought 778,009 share of Cairn India from the open market at about Rs 324 per share. After the acquisition, LIC's shareholding in Cairn India, which was last year bought by London-based mining group Vedanta Resources, has gone to 5.029% from 4.988% previously.
Maruti Suzuki plans to hike exports to counter rupee fall
India's largest passenger car maker Maruti Suzuki is working on a new strategy to step up its exports, a move promoted to counter the weakening rupee. Maruti Suzuki on Monday reported a 20.3% increase in sales, including exports, at 96,597 vehicles in June from 80,298 units sold in the corresponding month of last year.
Lupin gets US FDA nod for oral contraceptive generic
Lupin 's subsidiary Lupin Pharmaceuticals Inc has received US Food and Drug Administration approval to sell Norgestimate and Ethinyl Estradiol tablets in various strengths. Lupin's Norgestimate and Ethinyl Estradiol tablets are the generic equivalent of Ortho Tri-cyclen Lo tablets of Janssen Pharmaceuticals and are indicated for prevention of pregnancy in women who choose oral contraceptives as a method of contraception.
EQUITY REVIEW: 2 JULY 2012
BSE SENSEX and NIFTY traded in a tight range bound session on MONDAY and ended flat after touching an intraday high 5302. Markets are looking for a fresh trigger to extend the rally as it surged almost 2 percent on FRIDAY after European Union leaders agreed to bring the borrowing cost down with in immediate action and Indian government issued the GAAR guidelines. However positive opening of European markets helped NIFTY to touch 5300 level for intraday. The pressure was created by Cigarette major ITC, Steel major JINDAL STEEL and Auto giant TATAMOTORS as tanked more than 2 percent each while index heavy weight State Bank of India, HDFC Bank, TCS and Bharti Airtel climbed 1-2 percent on the session.
The SENSEX closed 39 points down at 17,398 and the NIFTY stood at 5,278 down by 1 points.
BSE Small-Cap index was up 1.09% while the BSE Mid-Cap index finished 0.90% up.CNX MIDCAP 50 index was up 0.97% and S&P CNX 500 was up around 0.25%.
Nifty Gainers
Today’s nifty top gainer were
ACC changed 3.98% with 6, 52,701 volumes
DLF changed 3.02% with 61, 01,516 volumes
GRASIM changed 2.16% with 83,398 volumes
Nifty Losers
Today’s nifty top losers were
ITC with volume 98, 28,658 and changed -4.21%
JINDALSTEEL with volume 25, 61,563 and changed -3.41%
HEROMOTO with volume 3, 27,541 and changed -1.93%
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TCS appoints Cyrus Mistry, OP Bhatt as Directors
Ratan Tata presented his new army at the TCS annual general meeting. OP Bhatt and Cyrus Mistry have been appointed as the new Directors on the board. Ratan Tata introduced Cyrus Mistry to the shareholders and investors saying that he was confident of Mistry's capability of leading the company to new heights of success.
Pawar to head EGoM that will decide on spectrum auction
Agriculture Minister Sharad Pawar will head a high-powered ministerial panel tasked with the onus of deciding on auction of telecom spectrum, a top DoT official said today. The Empowered Group of Ministers (EGoM) has been reconstituted after Pranab Mukherjee, who was heading it, resigned as Finance Minister to contest the Presidential elections.
May infrastructure output up 4.6% YoY: Govt
India's infrastructure sector output grew 4.6 percent in May from a year earlier, faster than an upwardly revised annual growth of 3.9 percent in the previous month, government data showed on Friday. The output grew 4.2 percent between April and May compared with 5.0 percent in the same period a year ago. The infrastructure sector accounts for 37.9 percent of India's industrial output.
Marico completes Paras personal care business acquisition
FMCG major Marico on Friday said it has completed the acquisition of Halite Personal Care India, the demerged personal care business of Paras Pharma from Reckitt Benckiser. Reckitt Benckiser had acquired Paras Pharma in December 2010, but had later said it would only focus on the company's healthcare business. The personal care business was subsequently transferred into a seperate company -- Halite Personal Care, in which Marico, which makes products like Parachute coconut oil and Saffola cooking oil, acquired 100% stake.
See 20-40% returns from Indian equities in 6 months: Garner
Morgan Stanley believes that the emerging markets are discounting a recession scenario at the moment. In his opinion, allowing the European stability mechanism and direct recapitalization of banks are seen as positive developments. Garner expects 20-40% returns from the Indian equity market in the next six months.
MARKET STRATEGY 2 JULY 2012
For the day we are expecting a cautiously optimistic start as domestic macro-economic headwinds are negating the positive vibes set off by the EU summit.
July is supposed to be a crucial month for various summer crops (kharif). A normal southwest monsoon also helps in the winter farming season (rabi) as it builds up the reservoirs across the nation. monsoon is likely to be the biggest headache in the near term, be it for the Government, farmers, consumers or companies.
Markets across the world will focus on the latest manufacturing PMI data, along with the ECB policy meeting and US jobs report. US markets will be shut on Wednesday for Independence Day.
The Nifty broke the 5080-5200 trading range after three weeks. The breakout point of 5200 could turn into a strong support. Data on IIP, inflation, corporate earnings and the RBI's month-end policy meeting will drive the sentiment all through July.
For the day, Indian markets will look out for data on merchandise exports.
July is supposed to be a crucial month for various summer crops (kharif). A normal southwest monsoon also helps in the winter farming season (rabi) as it builds up the reservoirs across the nation. monsoon is likely to be the biggest headache in the near term, be it for the Government, farmers, consumers or companies.
Markets across the world will focus on the latest manufacturing PMI data, along with the ECB policy meeting and US jobs report. US markets will be shut on Wednesday for Independence Day.
The Nifty broke the 5080-5200 trading range after three weeks. The breakout point of 5200 could turn into a strong support. Data on IIP, inflation, corporate earnings and the RBI's month-end policy meeting will drive the sentiment all through July.
For the day, Indian markets will look out for data on merchandise exports.
EQUITY WRAP UP
We had showed the level of 5200 as an important support. A break out beyond that level was eagerly awaited. Nifty registered an impressive break out beyond 5200 on the first day of new July series and rallied sharply till the end at 5278. It is now within a spike distance of the mentioned next crucial level of 5300 which is an important Fibonacci level also. a very important resistance is now seen at 5440 for this week.
The level of 5090 is now the most important support level for the week. The current uptrend can be said to intact till the time it is above the level of 5090.
The level of 5090 is now the most important support level for the week. The current uptrend can be said to intact till the time it is above the level of 5090.
Copper Market updates
Copper for September delivery climbed 5 percent to settle at $3.4965 a pound on the Comex. The increase was the biggest since Nov. 30. Prices added 5.5 percent this week, the biggest such gain since January. For the quarter, prices were down 8.6 percent.
Losses in the quarter have been led by coffee, cotton and oil, with the 13 percent decline in the S&P GSCI exceeding the 6.4 percent drop in the MSCI All-Country world Index of equities. Raw materials have also been hurt by signs of slower growth in China, the world’s largest user of base metals.
Even record power sector consumption cannot save low Natural Gas prices
As a result of the bearish weather and continued strong production growth, nat gas stockpiles are now extremely high. Inventories sat at 2.48 tcf at the end of March, breaking the previous record set in 2009 by 825 bcf, and compares to 1.59 tcf last year and 1.55 tcf for the average of the last 5 years.
Oil surges mostin more than a year on European development
Oil rose the most in more than three years on optimism that Europe’s debt crisis may be contained after leaders agreed to ease repayment rules for emergency loans to Spanish banks and relax conditions on help for Italy.
Futures gained 9.4 percent, trimming the biggest quarterly decline since the final three months of 2008, as leaders of the 17 euro countries dropped requirements that taxpayers get preferred creditor status on aid to Spain’s banks. Prices also advanced because a European Union ban on the purchase, transport, financing and insurance of Iran’s oil starts in July.
Commodity up most in 6 months on Europe optimism
Commodities jumped the most in 39 months on optimism that Europe’s debt crisis may be contained after leaders agreed to ease repayment rules for emergency loans to Spanish banks and relax conditions on help for Italy.
EQUITY REVIEW (INTRADAY): 29 JUN 2012
BSE SENSEX and NIFTY railed 2.5 percent each on FRIDAY over the global markets rally. Indian equities ended at highest level in 2012 with biggest gains as European Leaders concluded and agreed to take an emergency action to solve the ITALY and SPAIN’S borrowing costs on the first day’s meeting. Markets also fuelled with the hopes to get some positive decisions as India got its new finance minister as Man Mohan Singh took the charge. Rupee appreciated by 82 paise at 55.97 at the closing time of Indian markets. However Banking, Metal, FMCG, Pharma and Engineering sector out performed today while only Cairns India, BPCL and Coal India traded under pressure.
The SENSEX closed 440 points up at 17,429 and the NIFTY stood at 5,278 up by 130 points.
BSE Small-Cap index was up 1.31% while the BSE Mid-Cap index finished 1.62% up.CNX MIDCAP 50 index was up 2.15% and S&P CNX 500 was up around 2.35%.
Nifty Gainers
Today’s nifty top gainer were
JINDALSTEEL changed 8.49% with 60, 20,991 volumes
TATAPOWER changed 6.12% with 81, 96,084 volumes
STER changed 5.33% with 66, 02,623 volumes
Nifty Losers
Today’s nifty top losers were
CAIRNS with volume 6, 57, 64,501 and changed -6.14%
BPCL with volume 6, 49,301 and changed -1.22%
COALINDIA with volume 21, 97,837 and changed -0.24%
Get Equity Tips, Intraday Tips, Commodity Tips, Commodity Levels Here.... The Nifty is likely to trade in a range in the near term unless of course the government try out some positive surprises.
The glum mood over the GAAR issue could well take a backseat as the Government is all set to resolve outstanding tax issues in the next couple of weeks. So despite less greenery in the global markets our main indices are looking at a smiling start.
Another positive development is crude oil remains lower and petrol prices have been scaled down by Rs 2.46 per litre. Any further positive news on the policy front could keep the momentum going for a while. Problems confronting the eurozone remain the biggest risk.
Another positive development is crude oil remains lower and petrol prices have been scaled down by Rs 2.46 per litre. Any further positive news on the policy front could keep the momentum going for a while. Problems confronting the eurozone remain the biggest risk.
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