Today's market 03/06/14

Views on markets today

- Markets ended on a strong note on account of strength in the capital goods space and a bounce back in the banking counters ahead of the RBI policy meeting on Tuesday. The Sensex closed at 24,685, stronger by 46- points and the Nifty was up 133 points at 7,363.

The mid and smallcap scrips were back in demand. The smallcap and midcap indices advanced over 2% each in the day's trade.

- Shares of - companies that run insurance business rose by 2.31% to 11.19% on BSE on reports the finance ministry could recommend an increase in the limit on foreign direct investment in insurance sector to 49% from 26%.

Reliance Capital (up 11.19%), Max India (up 11.02%), Aditya Birla Nuvo (up 4.39%), State Bank of India (up 4.23%), Religare Enterprises (up 2.89%), ICICI Bank (up 2.80%), Bajaj Finserv (up 2.63%) and HDFC (up 2.31%), edged higher.

- Shares of nine metal firms rose by 0.09% to 4.70% on BSE after strong Chinese data.

Jindal Steel & Power (up 4.70%), Steel Authority of India (Sail) (up 4.11%), NMDC (up 3.79%), Tata Steel (up 2.27%), Hindalco Industries (up 1.59%), Hindustan Zinc (up 1.53%), Bhushan Steel (up 0.72%), JSW Steel (up 0.49%) and Sesa Sterlite (up 0.09%), edged higher.

- L&T closed 6.23% up at Rs 1,645.40 on BSE after net profit surged 69% to Rs 2,723 crore on 11% growth in gross revenue to Rs 20,229 crore in Q4 March, 2014 over Q4 March, 2013.

- Maruti Suzuki India closed 2.53% up at Rs 2,326.85 on BSE after the company said its total sales rose 19.2% to 1 lakh units in May, 2014 over May, 2013.

- Hero MotoCorp closed 1.76% up at Rs 2,385.10 on BSE after the company said on Sunday, 1st June, 2014, its sales rose 8% to 6.02 lakh units in May, 2014 over May, 2013.

- Among the 12 BSE Sectoral indices, 10 indices closed in positive while 2 indices ended the day in negative. Top Gainers: BSE Capital Goods up by 4.93% and BSE Bankex by 3.28%. Top Losers: BSE Healthcare down by 0.92% and BSE FMCG by 0.82%.

Market breadth was sharply positive at ~1.95 as investors bought large cap stocks. On provisional basis, FII's bought Rs 2.34bn worth of Indian equities and DII's sold Rs 1.48bn worth of equities.

Economic and Corporate Developments

- Manufacturing activity inched up in May compared to the previous month, according to the widely-tracked HSBC Purchasing Managers' Index (PMI). The index for manufacturing rose marginally to 51.4 points in May from 51.3 points in April. Any score above 50 points shows growth.

Buzzing Stocks

- Cox & Kings closed 7.91% up at Rs 182.10 on BSE after the company reported a consolidated net loss of Rs 46 crore in Q4 March, 2014, lower than net loss of Rs 49 crore in Q4 March, 2013.

- M&M closed 0.81% up at Rs 1,240.45 on BSE after the company disclosed its sales numbers for the month of May, 2014 on Sunday, 1st June, 2014.

- Ruchi Soya Industries closed 3.75% down at Rs 42.40 on BSE after the company reported a net loss of Rs 9.65 crore in Q4 March, 2014 as compared to net profit of Rs 78.5- crore in Q4 March, 2013.

- Bajaj Auto closed 1.16% up at Rs 1,975.90 on BSE after the company said its total vehicle sales rose 4% to Rs 3.51 lakh units in May, 2014 over May, 2013.

- NMDC closed 3.38% up at Rs 175.95 on BSE after net profit surged 33.93% to Rs 1,962.14 crore on 17.6% growth in total income to Rs 4,412.03 crore in Q4 March, 2014 over Q4 March, 2013.

- Uflex closed 19.58% up at Rs 123.65 on BSE after consolidated net profit rose 45.9% to Rs 60.10 crore on 17.5% increase in net sales to Rs 1,376.87 crore in Q4 March, 2014 over Q4 March, 2013.

- Shalimar Paints closed 8.02% down at Rs 82.55 on BSE after the company reported a consolidated net loss of Rs 10.29 crore in Q4 March, 2014 as against net profit of Rs 0.37 crore in Q4 March, 2013.

- Easun Reyrolle closed 5.26% down at Rs 74.80 on BSE after the company reported a net loss of Rs 16.0- crore in Q4 March, 2014 as against net profit of Rs 12.46 crore in Q4 March, 2013.

- REI Agro was locked at 5% upper circuit at Rs 2.87 on BSE after the company reported a net loss of Rs 49.70 crore in Q4 March, 2014 as against net profit of Rs 67.73 crore in Q4 March, 2013.

- Coal India closed 0.59% up at Rs 373.35 on BSE after the company and its subsidiaries achieved 94% of targeted production at 36.27 million tonnes in May, 2014.

- Jyoti Structures was locked at 10% lower circuit at Rs 54.90 on BSE after the company reported a net loss of Rs 12.53 crore in Q4 March, 2014 as compared to net profit of Rs 22.20 crore in Q4 March, 2013.

- Pipavav Defence and Offshore Engineering Company closed 3.55% down at Rs 65.20 on BSE on profit booking after the stock surged 57.76% in the preceding 11 trading sessions to Rs 67.60 on 30th May, 2014, from a recent low of Rs 42.85 on 15th May, 2014.

- Arvind closed 4.61% up at Rs 191.90 on BSE after the Arvind OG Nonwovens, a joint venture between Arvind and OG Corporation of Japan, inaugurated its manufacturing facilities near Ahmedabad, Gujarat, on 31st May, 2014.

- Tata Power closed 2.02% up at Rs 105.95 on BSE after the company said it commissioned its second 25 megawatts solar farm in Palaswadi, Maharashtra.

Today's market as on 02/05/14

- The markets ended the last session of the week and the first day of the June derivatives series on a monotonous, albeit choppy, note in the absence of any enthusing cues from the global front. The Sensex was stuck in a narrow range of around 150 points before ending at 24,217, lower by 16 points and the Nifty ended below the crucial psychological support level of 7,250 at 7,230, down 5 points.

- Shares of 6 defence equipment manufacturers rose by 2.44% to 20% on BSE on media reports of potential increase in foreign direct investment limit in the sector to 100% from current 26%.

- Astra Microwave (up 20%), Walchandnagar Industries (up 10%), BEML (up 7%), Dynamatic Technologies (up 5%), Pipavav Defence and Offshore Engineering Company (up 5%) and Bharat Electronics (up 2.44%), edged higher.

- Rail-related shares surged on media reports that the government is likely to announce foreign direct investment policy for railways soon. Kernex Microsystem closed 7.34% up at Rs 74.55, Kalindee Rail Nirman closed 5% up at Rs 103.35 and Titagarh Wagons closed 5% up at Rs 250.10.

- Among the 12 BSE Sectoral indices, 10 indices closed in positive while 3 indices ended the day in negative. Top Gainers: BSE Healthcare up by 2.59% and BSE Realty by 2%. Top Losers: BSE Consumer Durables down by 1.78% and BSE Bankex by 1.59%.

Market breadth was positive at ~1.13 as investors bought large cap stocks. On provisional basis, FII's bought Rs 29.77bn worth of Indian equities and DII's sold Rs 4.58bn worth of equities.

NIFTY BUY OR SELL FOR 19 MARCH 2014

VIEW ON NIFTY

BEARISH ONLY BELOW 6451 TGT 6169 STOPLOSS 6529

BULLISH ABOVE ONLY 6558 TGT 6678 STOPLOSS 6481 

NIFTY BUY OR SELL CALLS FOR TOMORROW MARKETS

NIFTY VIEW :


Bearish, only if below 6438, target 6157; stop-loss: 6527.

            Bullish,  only if above 6545, target 6676; stop-loss: 6468.                          

IFCI MAY BUYS IDBI STAKE IN SHCIL

AS THE NEWS IFCI MAY BUYS IDBI STAKE IN SHCIL. ITS WILL HELP TO IDBI BANK TO REDUCE ITS SOME DEBTS OF COMPANY. AS WELL AS IFCI MAY ALSO COME SOME LOSS DUE PURCHASE OF SHCIL. AS PER THE MARKET SENTIMENTS NO USE OF TAKING STAKE OF SHCIL,IN SUCH TIME IFCI WILL COME IN MORE LOSSES.AND NOT ONLY INCREASE DEBTS BUT ALSO INCREASE EXPENSES OF THE COMPANY. IN 2009 NEWS COME THAT IDBI IS BUYING STAKE IN SHCIL AND FROM THAT DAY IDBI IS NOT GIVING ANY RETURNS TO HIS SHAREHOLDER BUT FROM THAT TIME ITS LOSSES TO SHAREHOLDER. SO ON THIS NEWS I THINK IDBI WILL BENEFITED BY SELLING ITS STAKE TO IFCI AND MAY IFCI WILL GET LOSS. SO BUY IDBI AND SELL IFCI , BUT FIRST COME WITH CONFIRM NEWS ABOUT THIS.

   

MARKET AS ON 6-12-2013

Views on markets today

- Markets ended lower on Wednesday as investors turned cautious and booked profits ahead of the assembly election results due on Sunday.

The 30-share Sensex ended down 146 points at 20,70- and the 50-share Nifty ended down 40 points at 6,160.

- Five telecom stocks rose by 0.09% to 2.91%, in the early trading, on BSE after a panel of ministers on Tuesday, 3 December 2013, approved crucial changes to the rules on mergers and acquisitions in the fragmented telecom industry.

Bharti Airtel (up 1.32%), Idea Cellular (up 0.09%), MTNL (up 1.36%), Tata Teleservices (Maharashtra) (up 2.91%) and Reliance Communications (up 1.22%) gained.

- Eight stocks closed down by 4.92% to 16.76% on BSE after the NSE said it would suspend trading in shares of these companies from 10 December 2013 for non-compliance of certain provisions of the listing agreement.

Amar Remedies (down 4.92%), Aqua Logistics (down 16.76%), Asian Electronics (down 4.88%), Edserv Softsystems (down 5.13%), First Leasing Company of India (down 4.72%), Geodesic (down 4.87%), KDL Biotech (down 4.96%), KLG Systel (down 4.96%), Birla Power Solutions (down 5.26%) edged lower on BSE.

- Among the 13 Sectoral Indices 5 indices closed in positive while - indices ended in negative. Top Gainers: BSE Power up by 0.31% and BSE Metal by 0.26%. Top Loser: BSE Realty down by 2.67% and BSE FMCG by 1.36%.

Market breadth was negative at ~0.82 as investors sold large cap stocks. On provisional basis, FII's bought Rs 0.42bn worth of Indian equities and DII's sold Rs 0.18bn worth of equities.


Economic and Corporate Developments

- India's services sector, which constitutes the biggest chunk of its economy, shrank for the fifth month in a row in November, according to the widely-tracked HSBC purchasing managers' index released on Wednesday.

This may dash hopes of any significant recovery in the second half, particularly in the services sector, which grew at 11-year low in the second quarter of 2013-14 in the official GDP data.

Services PMI inched up to 47.2 points in November from 47.1 in October, remaining in the negative zone. PMI above 50 means expansion and below that number it is a decline.


Buzzing Stocks

- Pfizer closed 1.23% down at Rs 1,710.60 on BSE on profit booking after gaining 20.99% in prior seven trading days.

- Essar Oil closed 1.84% up at Rs 55.30 on BSE after the company said it has received a notice from promoter company, Essar Energy Holdings seeking conversion of FCCBs aggregating $262 million into equity shares.

- Force Motors closed 1.99% up at Rs 398.80 on BSE, with the stock extending its recent rally.

- Jyothy Laboratories closed 5.86% up at Rs 199.70 on BSE after the company said it has allotted 1.5 crore equity shares, aggregating Rs 262.72 crore, to Sahyadri Agencies on preferential allotment basis.

- Eicher Motors closed 4.34% down at Rs 4,918.80 on BSE, with the stock sliding on profit booking after recent rally triggered by a foreign brokerage upgrading the stock to buy from underperform.

- Infotech Enterprises closed 5.30% up at Rs 289.25 on BSE after 0.36% equity changed hands in a bulk deal on 4th December 2013.

- Thomas Cook (India) rose 4.21%, in the intraday, to Rs 84.20 on BSE after the company said it has expanded its footprint in South India with the launch of its new branch outlet in Pondicherry on 4th December, 2013.

- VST Tillers Tractors closed 5.04% to Rs 626.05 on BSE after HDFC Mutual Fund bought 1.71% stake in the company on Tuesday, 3 December 2013.

- Orient Bell jumped 3.52%, in the early trade to Rs 51.50 on BSE after the company on Tuesday, 3 December 2013, announced a licensing deal with Disney Consumer Products India to launch Disney and Marvel branded tiles collection in the country.

- Mahindra Holidays & Resorts India rose 3.19%, in the morning trade, to Rs 259 on BSE after the company announced the divestment of investment in the company's two Austrian subsidiaries.

- Cairn India rose 0.42% to Rs 321 on BSE as US crude oil futures advanced for a 4th straight day as TransCanada Corp. said it will start part of its Keystone XL pipeline next month and data showed United States crude inventories fell.

- Fedders Lloyd Corporation closed 1.71% down at Rs 28.70 on BSE as the stock turned ex-dividend on 4th December 2013, for dividend of Rs 1 per share for the year ended 30 June 2013.

- Dish TV India surged 3.97% to Rs 60.20 on BSE after a block deal of 12.74 lakh shares was executed in the counter on BSE at Rs 60 per share at 13:51 IST.

MARKET VIEW AS ON 03/12/2013

Views on markets today

- Markets ended higher on Monday as better-than-expected second quarter GDP numbers released late Friday boosted the sentiment.

The 30-share Sensex ended up 106 points at 20,89- and the 50-share Nifty ended up 42 points at 6,218.

- Among the 13 Sectoral Indices 12 indices closed in positive while 1 sector ended in negative. Top Gainers: BSE Healthcare up by 2.00%, BSE Capital Goods by 1.61% and BSE Bankex by 1.16%. Top Loser: BSE Oil & Gas down by 0.38%.

Market breadth was positive at ~1.45 as investors bought large cap stocks. On provisional basis, FII's bought Rs 7.90bn worth of Indian equities and DII's bought Rs 6.18bn worth of equities.


Economic and Corporate Developments

- After contracting for three consecutive months, manufacturing activity saw an eight-month high expansion in November as rising domestic orders provided impetus, according to the widely-tracked HSBC Purchasing Managers' Index (PMI).

The HSBC PMI for manufacturing stood at 51.3 points in November, up from 49.6 points in October this year. A reading below 50 points to contraction, while one above it shows expansion.

- Committed to keep fiscal deficit under check, Prime Minister Manmohan Singh has convened a high-level meeting today to push forward the disinvestment programme with a view to achieve the budgetary target of Rs 40,000 crore in the current fiscal.

The meeting, according to sources, will be attended by Finance Minister P Chidambaram, and other concerned ministers.

"PM wants to review the progress with regard to disinvestment programme. Issues concerning Coal India, Bhel, Hindustan Zinc and Balco are likely to be discussed," according to a source.

The government has budgeted to raise Rs 40,000 crore from minority stake sale in PSUs in the current fiscal. With eight months of the fiscal over, it has managed to garner only over Rs 1,325 crore through stake sale in six PSUs.


Buzzing Stocks

- Jubilant Life Sciences closed 4.89% up at Rs 145.95 on BSE, with the stock extending Friday's rally triggered by the company receiving abbreviated new drug application approval from USFDA for a generic version of AstraZeneca's Seroquel.

- Shoppers Stop surged 4.62% to Rs 345 on BSE after a block deal of 4.5 lakh shares was executed in the counter on BSE at Rs 331.05 per share at 10:30 IST.

- Eicher Motors closed 6.83% up at Rs 5,006.10 on BSE, extending recent gains triggered by a foreign brokerage upgrading the stock to buy from underperform.

- State Bank of India rose 1.35%, in the early trade to Rs 1,846 on BSE after the bank said it plans to raise up to Rs 9,576 crore through issue of equity shares to institutional investors or a follow-on public offer or any other mode.

- Swan Energy closed 2.92% up at Rs 111.11 on BSE after the company said it has been selected by the Gujarat Maritime Board as the developer for a Greenfield project in Gujarat.

- ONGC closed 1.54% down at Rs 293.90 on BSE on reports the Gujarat high court on Saturday, 30 November 2013, directed the company to pay royalty dues worth over Rs 10,000 crore to the state government.

- L&T closed 2.22% up at Rs 1,066.55 on BSE after the company said it is evaluating alternatives for monetisation of certain assets of its subsidiary L&T Infrastructure Development Projects.

- Amtek India closed 19.96% up at Rs 80.85 on BSE after net profit surged 86.9% to Rs 55.13 crore on 48.9% increase in net sales to Rs 558.25 crore in the quarter ended September 2013 over the quarter ended September 2012.

- Maruti Suzuki India closed 0.96% down at Rs 1,661.35 on BSE after the company said its total sales declined 10.7% to 92,140 units in November 2013 over November 2012.

- Idea Cellular rose 1.37% to Rs 177.85, in the early trade, on BSE after the company said its board has approved increase in the aggregate investment limit of Foreign Institutional Investors from 24% to 49% of the paid-up equity capital of the company.

- Power Grid Corporation of India closed 1.74% down at Rs 93.40 on BSE as the price band for the company's follow on public offer was set at a discount to ruling market price.

- Financial Technologies (India) closed 0.30% down at Rs 166.20 on BSE after net profit fell 61.16% to Rs 27.01 crore on 12.83% decline in total income to Rs 128.92 crore in Q2 September 2013 over Q2 September 2012.

- Mahindra & Mahindra closed 1.34% up at Rs 958.25 on BSE after the company said its total auto sales declined 18% to 39,255 units in November 2013 over November 2012.