Brent crude remained below $65 per barrel, not far above five-year lows hit in the previous session.
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Thursday, December 11, 2014
GAIL Falls on Lower Crude Price
Brent crude remained below $65 per barrel, not far above five-year lows hit in the previous session.
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Rupee Falls to 62.17/Dollar; Profit-taking on Global Risk-Off
Sharemasterindia.com: The rupees
fell to 62.17 per dollar against Wednesday’s close of 62.02 as risk
aversion globally driving some profit-taking in the currency, say traders.The Indian unit is approaching month’s low of 62.25 hit on December 1.
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Sensex Falls 250 Points, Nifty Below 8,300
Sharemasterindia.com: Indian stock markets tumbled after a flat start on Thursday with the BSE Sensex falling over 250 points or 0.8 per cent in morning trade. The broader Nifty slipped below the key 8,300 mark for the first time since November 7.Thursday’s selloff came on the back of weakness in global sentiments. Most stock markets in Asia traded with deep cuts after the Dow fell over 200 points overnight. Global markets have been falling because of a crash in energy stocks, which are being weighed down by lower crude prices.
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Gold Climbs Towards 7-Week High as Dollar, Equities Slide
Singapore(Sharemasterindia.com): Gold
edged towards a seven-week high on Thursday as a sell-off in global
equities and the dollar burnished the metal’s safe-haven appeal, though
weaker oil prices capped gains.The dollar index fell for a fourth session in a row on strength in the yen, while Asian stocks eased on global growth concerns.
Gold is seen as an alternative investment to riskier assets such as equities. Weakness in the greenback also makes dollar-denominated bullion more attractive.
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Friday, November 21, 2014
Kotak Mahindra Bank, ING Vysya Hit Record High on Merger Deal: 10 Facts
Sharemasterindia.com: Kotak Mahindra Bank on Thursday announced a $2.4 billion all-share deal to acquire its smaller
peer ING Vysya. Kotak’s takeover of ING Vysya is the first major deal
in four years and the transaction is expected to close in the second
half of 2015. Shares in the two lenders hit record highs for a second
successive session on Friday.Here are 10 facts to know about the deal:
1) Kotak Bank’s takeover of ING Vysya is the biggest deal in India’s banking sector and will create the country’s fourth largest private sector lender by branch network. The combined banking entity will have 1,214 branches with a widespread network across the country. Most of ING Vysya’s branches are in South India, while Kotak’s branches are concentrated in West and North India.
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BSE Sensex, Nifty Trade Flat; Banking Stocks in Focus
Here are 10 facts to know about the deal:
1) Kotak Bank’s takeover of ING Vysya is the biggest deal in India’s banking sector and will create the country’s fourth largest private sector lender by branch network. The combined banking entity will have 1,214 branches with a widespread network across the country. Most of ING Vysya’s branches are in South India, while Kotak’s branches are concentrated in West and North India.
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Asia Shares Take Comfort From US Data, Yen Nurses Losses
Tokyo(Sharemasterindia.com): Asian shares took
solace from data showing broad US economic strength even as signs of
spreading weakness in China and Europe checked risk appetite, while the
yen nursed its losses after sliding to multiyear lows against the dollar and euro overnight.MSCI’s broadest index of Asia-Pacific shares outside Japan was up slightly in early trade. It was on track for a weekly loss of over 1 per cent, but was underpinned by record finishes by the Dow Jones industrial average and S&P 500 after a spate of US data added up to a picture of broad economic strength.
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Wednesday, November 19, 2014
HPCL, BPCL Gain; Citi Raises Target Price
Sharemasterindia.com: Shares in oil marketing companies Bharat Petroleum Corporation and Hindustan Petroleum Corporation gained over 2 per cent on Wednesday.Citigroup has upgraded Hindustan Petroleum Corp to buy from neutral and has raised price target to Rs 710 from Rs 513.
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L&T, Voltas Gain; BoAML Bullish on Industrials
Global brokerage major Bank of America Merrill Lynch (BoAML) maintains bullish view on industrials and suggests buy on L&T and Voltas with a target price of Rs 2,133 and Rs 348 respectively. Target price on both the stocks are more than 25 per cent from their current market prices. The brokerage says these stocks are well below their historical peak and could get re-rated further.
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Aurobindo Pharma Promoter Nityananda Reddy Attacked, Shares Choppy
Sharemasterindia.com:
Aurobindo Pharma director and vice chairman K Nityananda Reddy was
attacked by an unidentified man in the posh Banjara Hills area of
Hyderabad today.
Mr Nityananda Reddy escaped unhurt and no one was injured in the firing incident. There have been no arrests so far.
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Mr Nityananda Reddy escaped unhurt and no one was injured in the firing incident. There have been no arrests so far.
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Wednesday, November 12, 2014
PSU bank employees go on strike; private banks remain open
NEW DELHI(Sharemasterindia.com): Employee unions of public sector banks
went on a nationwide strike today to press for wage revision, affecting
banking services like cheque clearance and withdrawal from branches
across the country.However, branches of private sector banks like ICICI and HDFC remained open. At the same time, most of the ATMs of all banks were functioning normally, as per initial reports.
“Strike is complete and total. This strike has been forced upon us as bank management did not yield to our scaled down demands,” United Forum of Bank Unions (UFBU) Convener M V Murali told PTI.
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Aurobindo Pharma up 4%; US arm highest bidder to buy Natrol
“Under the auction process, Aurobindo USA emerged as the highest and best bidder with a bid of USD 132.5 million to acquire the assets of Natrol with an agreement to take on certain liabilities,” it said in a statement to the BSE.
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Tata Motors, Mahindra & Mahindra Gain After Price Hike
Sharemasterindia.com: Shares in Tata Motors and Mahindra & Mahindra gained on Wednesday after these companies announced price increase in the range of 1-2 per cent for their products to offset higher input cost.Tata Motors gained 2.85 per cent to an intraday high of rupee“>Rs. 536.65, while shares in Mahindra & Mahindra gained nearly one per cent to a day high of Rs. 1,272.4 on Wednesday.
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Rupee Trades Flat, Share Gains Offset Broad Dollar Rise
Sharemasterindia.com: The rupee was trading at 61.53 vs Tuesday’s close of 61.55. Shares will be watched for clues on foreign fund flows.The Nifty rose 0.4 per cent to hit an all-time high at 8,400.
Most Asian currencies were trading weaker versus dollar, while index of the dollar versus six majors was up 0.1 per cent.
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Nifty Hits 8,400 for First Time as Record Rally Continues
Sharemasterindia.com: BSE Sensex and Nifty rose to record highs today, amid a rally in global markets and strong foreign inflows.The Nifty rose above 8400 for the first time, after rising nearly 40 points. The Sensex gained nearly 190 points to rise to a new high of 28,101.
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Power Grid Shares Fall 2% on Q2 Miss
The company reported a net profit of Rs. 1,201 crore, down 3 per cent year-on-year on account of higher finance cost. Its revenues grew 9 per cent y-o-y to Rs. 4,178.5 crore.
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Tuesday, November 11, 2014
Sensex, Nifty Edge Higher to Hover Near Record Highs
Sharemasterindia.com: BSE Sensex and Nifty edged higher today amid positive momentum from the government’s reforms measures, buying from foreign investors and higher global markets.Asian markets were mostly higher following a record close overnight on Wall Street.
Foreign institutional investors bought Indian equities worth rupee“>Rs. 355 crore on Monday, taking its total to Rs. 9,592 crore from October 29.
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Saturday, November 8, 2014
PM Modi With Spade Cleans Assi Ghat in Varanasi
Exceptionally Good Conditions in Place for 10% Growth: Deepak Parekh
Mumbai(Sharemasterindia.com):
Bullish over robust fundamentals and improving macroeconomic
conditions, industry leader Deepak Parekh on Saturday said India
currently has “exceptionally good conditions” in place to aspire for 10
per cent economic growth, but much needs to be done to achieve that
target.While stating that a 10 per cent GDP growth was certainly achievable, Mr Parekh, however, said he would not “hazard a guess” on the time frame for achieving a double-digit growth.
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Most Wall Street Firms Still See Fed Rate Hike by June 2015: Poll
New York(Sharemasterindia.com): Wall Street’s biggest banks remain convinced the Federal Reserve will raise interest rates by June 2015, a Reuters poll found, and economists also said the market was underestimating how aggressively the US central bank will tighten policy.Fourteen of 19 primary dealers, or the banks that deal directly with the Fed, said they expect the first rate hike by June 2015, with borrowing costs rising to 1 per cent at the end of that year.
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Insurance bill will be passed in Winter Session, says Jaitley
Sharemasterindia.com: Union Finance Minister Arun
Jaitley on Friday expressed the confidence that Insurance Amendment
Bill, which seeks to raise the Foreign Direct Investment (FDI) from 26
per cent to 49 per cent, will be passed in the forthcoming Winter
Session of Parliament.“I hope to get a positive report from the select committee. Insurance bill may be passed (in the coming session of Parliament),” he said at a book release function in which he was pitted against former Finance Minister P Chidambaram at a book release function.
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Markets Week Ahead: Inflation Data, Cabinet Changes Key
Sharemasterindia.com: Consumer Price Index-based inflation data will be key for the markets in the week beginning November 10. A sharp fall in consumer or retail inflation would raise hopes for a rate cut by the Reserve Bank of India (RBI) in its December 2 policy review.The government is also expected to announce a Cabinet reshuffle on Sunday.
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Friday, November 7, 2014
Sensex Edges Lower on Profit-Taking, US Jobs Data Eyed
Sharemasterindia.com: The BSE Sensex
edged lower on Friday after setting records in each of the previous
four sessions as investors took profits in recent outperformers such as
State Bank of India, with caution also prevailing ahead of monthly US jobs data.Continue Reading
HDFC Bank Falls, Zee Entertainment Gains on MSCI Rejig
Sharemasterindia.com: Shares in HDFC Bank fell nearly 2 per cent to a day low of rupee“>Rs. 898.50 on Friday as the MSCI removed the stock from its MSCI India index.HDFC Bank had a weightage of 1.9 per cent in the MSCI India index. MSCI in its earlier review has said HDFC Bank will be excluded from the MSCI India index if FII (Foreign Institutional Investors) limit issue is not resolved before November 2014.
HDFC Bank had sought Foreign Investment Promotion Board’s (FIPB) approval to increase the foreign shareholding in the company to 74 per cent, which has been pending since last year.
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Hero MotoCorp Shares Fall 3% on Bain Capital Stake Sale
Sharemasterindia.com: Shares in Hero MotoCorp fell 3 per cent to a day low of rupee“>Rs. 2,874.4 on Friday as the US private investment firm Bian Capital is selling nearly 4.3 million shares in the company.Bain Capital is selling the stocks at a price range of Rs. 2,859.58 to Rs. 2,963.3. The issue has already been subscribed and is likely to be closed today.
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BSE Sensex, Nifty Fall; Banks Lead Losses
Sharemasterindia.com: BSE Sensex and Nifty
came under some pressure today after hitting record highs in the
previous four sessions. Profit-taking was seen in banking, oil & gas
and capital goods stocks. Weak Asian markets also weighed on the sentiment.The Sensex fell over 150 points to hit at 27,739 at day’s low. Nifty also slipped below the 8300 levels.
Market analyst Sarvendra Srivastava says Nifty is likely to trade in the 8200-8350 range in the near term.
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Dr Reddy’s, Endo Get FDA Approval to Launch Generic Valcyte
Mumbai(Sharemasterindia.com): The US Food and Drug Administration (FDA) said it has
granted final approval to Indian drugmaker Dr Reddy’s Laboratories Ltd
and US firm Endo International Plc to make cheaper copies of Roche
Holding AG’s antiviral Valcyte.The move comes after Ranbaxy Laboratories Ltd said on Thursday that FDA had stripped the company of its tentative approval to launch the first copy of the drug due to quality control issues at its manufacturing plants.
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Ranbaxy Shares Fall 5% on US FDA Blow
Sharemasterindia.com: Shares in Ranbaxy fell over 5 per cent to a day low of rupee“>Rs.
618.85 in the opening session on Friday after the US Food and Drug
Administration (FDA) revoked a tentative approval for Ranbaxy
Laboratories two drugs.The US FDA has withdrawn its approval for Ranbaxy’s Laboratories to make a cheaper version of AstraZeneca’s heartburn drug Nexium after Ranbaxy’s plants were banned over quality control issues.
The USFDA has also revoked a tentative approval and six-months exclusivity for generic version of Roche Holding’s antiviral Valcyte drug.
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Asian Shares Slump, Euro Wallows Near Lows
Tokyo(Sharemastereindia.com): Asian shares edged
down on Friday ahead of US employment data later in the session, while
the euro wallowed around two-year lows after European Central Bank President Mario Draghi vowed to take more easing steps to spark growth in the euro zone.Investors were likely to remain cautious ahead of the key US nonfarm payrolls report. Solid gains in employment would increase speculation that the USFederal Reserve could raise US interest rates in the middle of next year.
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Gold Poised for Third Weekly Drop; US Jobs Data in Focus
Singapore(Sharemasterindia.com): Gold held close to a 4-1/2 year low and looked set to post its third
straight weekly drop on Friday, as the US dollar rallied on
expectations the Federal Reserve could raise rates sooner rather than
later.A robust US nonfarm payrolls report later in the day could provide more evidence of a strengthening economy, influencing the Fed and possibly hurting gold, a non-interest-bearing asset.
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Sensex Edges Higher, Nifty Hovers Near 8,350
The Sensex was up 20 points at 27,936 while Nifty edged up to 8,347, up 9 points.
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Ranbaxy, Sun Pharma, Hero MotoCorp in Focus Today
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Tuesday, November 4, 2014
Hot Stock Tips for 05.11.2014
Gold Prices at 4-Year Lows: Should You Buy Now?
Sharemasterindia.com: Gold
prices have dropped to 26,350 levels in India – the lowest in nearly
four years. And some analysts say that gold prices could be heading even
lower. A weak trend in global markets, strong US economic data and a
stronger dollar have been cited for their weak outlook on the precious
metal.Here is why analysts expect gold prices to fall:
Dollar’s rise against major currencies: The rise of the greenback has been one of the big factors behind the plunge in global gold prices. The gains in the greenback negatively impact the price of commodities priced in dollars such as gold, silver and oil. Since gold is a dollar-denominated commodity, it becomes more expensive for buyers in other currencies to purchase the yellow metal when the greenback gains. This tends to impact gold demand.
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Sanofi Says First Dengue Vaccine May be Available in H2 2015
Paris(Sharemasterindia.com): Sanofi said on Monday that a late-stage clinical study showed that its dengue vaccine candidate met its main goal and was highly effective against severe cases of the disease.The French drugmaker’s Sanofi Pasteur division intends to file for registration for the vaccine in several endemic countries next year, it said in a statement.
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Asia Stocks Dip as Japan Outperforms, Dollar Soars
Tokyo(Sharemasterindia.com): Asian stocks
dipped in early trade on Tuesday with disappointing Chinese data and a
Wall Street slip dampening the mood, although Japan bucked the trend and
rose sharply on follow-through momentum generated the Bank of Japan’s surprise monetary easing last week.The dollar was firmly on the front foot, hovering at multi-year highs against the yen and euro, after the BOJ’s easing on Friday added pressure on the European Central Bank to follow suit.
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BSE TOP GAINER 03.11.2014
| Scrip Code | Scrip Name | Group | LTP | Chg | % Chg |
|---|---|---|---|---|---|
| 532798 | NETWORK18 | A | 56.35 | 5.40 | 10.60 |
| 507878 | UNITECH | A | 22.55 | 2.10 | 10.27 |
| 532254 | POLARIS | A | 207.15 | 19.15 | 10.19 |
| 513683 | NEYVELILIG | A | 94.05 | 7.25 | 8.35 |
| 532693 | PUNJLLOYD | A | 41.25 | 3.15 | 8.27 |
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Monday, November 3, 2014
Why Dr. Reddy’s, Pfizer, Wyeth are Up Today
Sharemasterindia.com: Shares in Dr. Reddy’s Lab gained nearly 3 per cent to a day high of rupee“>Rs.
3,261 on Monday as the company is planning to file two new drug
applications (NDA) with the US Food and Drug Authority by the end of
2015.The company said one drug is in late phase of clinical trials.
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Rupee Falls to 61.49/Dollar on Broad Dollar Gains
Sharemasterindia.com: The rupee traded at 61.49 versus its previous
close of 61.3950/4050 as dollar gained overseas. China October official
PMI dipped to 50.8, vs forecast of 51.2, September 51.1Continue Reading
Strong Dollar Squeezes Commodities, Bank of Japan Puts ECB in a Bind
Disappointing surveys out of China’s manufacturing and services sectors highlighted the relative health of the US economy, and piled pressure on other countries to ease monetary policy yet further.
The dollar came within a whisker of 113.00 yen in early trade, before taking a breather at 112.75. It has climbed over 3 per cent since the Bank of Japan stunned markets by doubling down on its already massive stimulus program.
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Jet Airways, SpiceJet Surge on Jet Fuel Price Cut
Sharemasterindia.com: Shares in aviation companies like Jet Airways, SpiceJet surged on Monday as jet fuel prices were cut by a steep 7.3 per cent on Saturday.This was the fourth straight cut in jet fuel prices since August on the back of falling crude oil prices.
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Sensex Nears 28,000, Nifty Hits 8,350
Sharemasterindia.com: BSE Sensex and Nifty extended their record run today gaining nearly 0.3 per cent in early trade. The Sensex rose nearly 100 points at its day’s high, touching 27,969. Nifty rose to 8,350 to its day’s high.Indian markets have gained for the tenth time in last eleven sessions, buoyed by the reforms momentum and a rally in global markets.
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Crude Oil Prices Mixed in Asian Trade
US benchmark West Texas Intermediate (WTI) for December delivery fell four cents to $80.50 while Brent crude for December was up four cents at $85.90 in mid-morning trade.
“The focus right now is on the manufacturing data to be released. We are looking for signs of industrial growth, which will in turn mean greater crude demand,” Daniel Ang, investment analyst at Phillip Futures in Singapore, told AFP.
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TVS Motor, Maruti Suzuki, Mahindra & Mahindra in Focus Today
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Friday, October 31, 2014
Sensex Surges Over 500 Points in Record-Setting Rally, Nifty Rises Above 8,300
Sharemasterindia.com: BSE Sensex and Nifty
surged to fresh highs for the second consecutive day, buoyed by the
positive momentum from the recent reform measures announced by the government and higher global markets.Sensex rose over 500 points to a new high of 27,854 while Nifty surged nearly 150 points to cross 8,300 for the first time ever.
Global markets rallied today after the Bank of Japan surprised financial markets by significantly expanding its massive stimulus programme. Tokyo’s Nikkei share index jumped almost 5 per cent in its biggest rise since June last year. European stocks were higehr while US futures prices pointed to similar gains when trading resumes in New York.
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Rupee Rises to 61.34 a Dollar Tracking Stronger Equities
Sharemasterindia.com: The rupee on Friday rose to a day high of 61.34 per dollar versus its previous close of 61.45/46 as stronger Asian currencies and local equities aided the Indian unit.Continue Reading
Titan Shares Slump 7% After Earnings
Sharemasterindia.com: Shares in watches and jewellery maker Titan Company slumped as much as 7.4 per cent on Friday, heading towards its biggest single-day fall since September 2013 as its July-September earnings lagged some estimates.Its profit rose 28.6 per cent to rupee“>Rs. 240 crore and sales rose by 55.7 percent to Rs. 3,565 crore.
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Bharti Airtel Falls Despite Profit Beat in Q2
Sharemasterindia.com: Shares in Bharti Airtel fell over one per cent to a day low of rupee“>Rs. 400.50 on Friday despite a beat in Q2 net profit. Bharti reported a 24 per cent sequential jump in its net profit to Rs. 1,383 crore in the July -September quarter, while its revenue declined half a per cent sequentially to Rs. 22,845 crore.Analysts polled by NDTV had estimated its net profit at Rs. 1,287 crore on sale of Rs. 23,227 crore. Bharti, although beat street estimates on net profit but its revenue missed street estimates by nearly 2 per cent mainly due to disappointing performance in its Africa business which continued to lag behind.
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IDFC Hits 3-Month High; Operating Profit Beats Some Estimates
Strong non-interest income boosted operating profits to Rs. 900 crores, say traders.
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Nifty Rises Above 8200 For First Time, Sensex Scales 27,500
Sharemasterindia.com: BSE Sensex and Nifty
rallied to fresh highs today for the second consecutive day, buoyed by
the positive momentum from the recent reform measures announced by the government and higher global markets.BSE Sensex and Nifty set new record highs for a second day. Sensex rose over 180 points to a new high of 27,529.89 while Nifty gained over 50 points to rise above 8200 for first time.
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ITC, Mahindra & Mahindra, Bharti Airtel in Focus Today
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Thursday, October 30, 2014
Sensex Hits Record High on Continued Reform Push; IT Stocks Rally
Sharemasterindia.com: Indian stock markets rallied sharply on Thursday with the Sensex rising nearly 300 points to an all-time high of 27,390.60. The Nifty jumped 90 points to hit a new record high of 8,181.55.Continued reform push by the government has boosted sentiments, traders say. On Wednesday, the government relaxed rules for foreign direct investment (FDI) in construction development.
The new rules make it easier for foreign companies to invest in India and many projects will now qualify for FDI through automatic route (no FIPB clearance will be required), analysts say.
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Maruti Suzuki Q2 Beats Estimates, Net Jumps 29%
Mumbai(Sharemasterindia.com):India’s biggest carmaker Maruti Suzuki India beat analyst estimates with a roughly 29 per cent rise in its quarterly net profit, helped by higher car sales and a positive foreign exchange impact.
Maruti Suzuki, controlled by Japan’s Suzuki Motor Corp, said its net profit for the July-September quarter was rupee“>Rs. 863 crore compared with Rs. 670 crore a year earlier.
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IT and Pharma Stocks Gain on US Fed’s Optimism
Software exporter HCL Tech was up 3.7 per cent, while Infosys gained 1.76 per cent and rival Tata Consultancy Services added 1.59 per cent.
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Raymond Shares Fall 5% on Weak Earnings
Sharemasterindia.com:
Shares in Raymond fell nearly 5 per cent to a day low of rupee“>Rs. 464.1 on Thursday as its earnings disappointed investors.
The company reported a 26 per cent fall in its September quarter net profit.
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Shares in Raymond fell nearly 5 per cent to a day low of rupee“>Rs. 464.1 on Thursday as its earnings disappointed investors.
The company reported a 26 per cent fall in its September quarter net profit.
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Rupee Falls to 2-Week Low on Fed’s US Economic Outlook
Sharemasterindia.com:The rupee fell to a two-week low against the dollar on Thursday as the greenback posted gains after the U.S. Federal Reserve statement at the conclusion of its meeting was seen as showcasing more confidence about the U.S. economy prospects.
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Tech Mahindra Posts Profit of Rs. 720 Crore in Q2
Sharemasterindia.com: Shares in Tech Mahindra gained over 4 per cent to a day high of rupee“>Rs. 2,502.2 on Thursday as the company reported strong set of earnings for the July to September quarter of FY15 on Wednesday post market hours.Its net profit grew 14 per cent sequentially to Rs. 720 crore while its revenue grew 7 per cent to Rs. 5,488 crore in the reporting period. Analysts polled by NDTV had estimated its net profit at Rs. 726 crore on sales of Rs. 5,377 crore.
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Realty Stocks Jump on FDI Relaxation; Orbit, Sobha Lead
Sharemasterindia.com: Shares in realty and construction companies jumped on Thursday, a day after the government relaxed rules for foreign direct investment in construction development. The new rules make it easier
for foreign companies to invest in India and many projects will now
qualify for FDI through automatic route (no FIPB clearance will be
required), analysts say.The government wants to open up the construction sector to attract investments so that it can deliver on Prime Minister Narendra Modi’s promise to create 100 “smart cities” in India by 2020.
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Sensex Edges Higher, Nifty Rises Above 8,100
Sharemasterindia.com: BSE Sensex and Nifty were higher today but the gains were capped after the US central bank ended its historic stimulus programme in a move widely expected.Asian stocks were mixed and the dollar surged to a three-week high versus the yen after the US Federal Reserve ended its massive quantitative easing programme, as expected, but laced its economic assessment with a tinge of optimism.
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Bharti Airtel, Maruti Suzuki, ICICI Bank in Focus Today
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Wednesday, October 29, 2014
Auto Index Nears 52-Week High; Tata Motors, M&M Shine
Sharemasterindia.com: The CNX auto index gained over one per cent, close to its year high of 8,175.7 on Wednesday supported by buying in heavy weights like Tata Motors, Hero MotoCorp and Mahindra and Mahindra.Tata Motors gained nearly 3 per cent to a day high of rupee“>Rs. 524.75 as recent fall in diesel prices and an improved economic outlook will support the company in achieving higher sales of commercial vehicles and passenger vehicles. Other commercial and passenger vehicle manufacturer Mahindra & Mahindra was also up over 2 per cent at Rs. 1,305.
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Eveready Gains on Rival Duracell’s Planned Sale by P&G
Rival Duracell’s sale by Procter & Gamble Co will lead to higher relative valuations and aid market share, said traders.Read More...
Dr Reddy’s Q2 Net Falls 17%, Stock Down 2%
Sharemasterindia.com: Dr Reddy’s Laboratories, India’s second-largest drugmaker by revenue, reported a 17 per cent drop in its second-quarter profit, pushing its shares down over two per cent.The company, whose formulations include drugs for cardiovascular disorders, oncology and pain management, posted a net profit of rupee“>Rs. 574 crore compared with Rs. 690 crore a year earlier.
As of 12.48 p.m. Dr Reddy’s shares traded 1.9 per cent lower at Rs. 3,023 underperforming the Nifty which was up 0.4 per cent.Read More....
India Ranked 142 in Latest ‘Ease of Doing Business’ Report: World Bank
Washington(Sharemasterindia.com): India has been placed at 142 among 189 countries in the latest World Bank’s “Ease of Doing Business” report released today, a drop by two places from the last year’s ranking.The drop in India’s ranking from last year’s 140 is mainly because other nations have performed much better, bank officials said.
In the 2014 report, India had 52.78 points and in this year’s report it has 53.97 points.
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CCL Products Hits All-time High After Earnings
Instant coffee processor CCL Products India rose as much as 11 per cent on Wednesday and marked an all-time high of Rs140.30.
The company’s consolidated net profit in September-quarter rose 29 per cent to rupee“>Rs. 26.14 crore ($4.27 million).Read More....
Just Dial Rebounds 7% After Falling 21% Post Q2 Earnings
Sharemasterindia.com: Just Dial shares gained over seven per cent to a day high of rupee“>Rs. 1,457 on value buying after falling nearly 21 per cent, post announcement of its earnings which disappointed investors.
Net profit of the company grew 10 per cent year-on-year to Rs. 31.49 crore in September quarter compared to Rs. 28.66 crore in the corresponding quarter of last fiscal. But what disappointed the street the most was the 240 basis points decrease in its operating margin to 28.9 per cent for the quarter ended September 2014. The company said increase in staff cost has resulted in the drop in operating margin.
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Net profit of the company grew 10 per cent year-on-year to Rs. 31.49 crore in September quarter compared to Rs. 28.66 crore in the corresponding quarter of last fiscal. But what disappointed the street the most was the 240 basis points decrease in its operating margin to 28.9 per cent for the quarter ended September 2014. The company said increase in staff cost has resulted in the drop in operating margin.
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Gold Holds Near $1,230, Fed Eyed
Singapore(Sharemasterindia.com): Gold
steadied near $1,230 an ounce on Wednesday, clinging to modest gains
from the previous session, ahead of the next guidance from the Federal
Reserve on whether it will hike US interest rates sooner or keep them lower for longer.The Fed wraps up its two-day policy meeting later on Wednesday at which it is expected to end its bond purchases amid signs of strength in the US economy.
But policymakers will likely reinforce its stated willingness to wait longer before raising interest rates after a volatile month in financial markets.
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Dr. Reddy’s Lab, Tech Mahindra, Sesa Sterlite in Focus Today
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Sensex Rises Above 27,000; Nifty Inches Toward 8,100
BSE Sensex and Nifty
moved higher today, buoyed by a rally in global markets. The Sensex
rose over 150 points to hit 27,059 while Nifty rose to 8,081.05 at its day’s high.The gains were broad-based with all the sectoral indices on the BSE moving higher. The breadth of the market was positive with BSE midcap and smallcap indices rising nearly 0.5 per cent.
Asian shares advanced to one-month highs on Wednesday, helped by Wall Street which gained on optimism over corporate earnings and prospects the U.S. Federal Reserve will reaffirm its willingness to wait longer before raising interest rates.
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