The sensex and NSE
rallied to record high levels during late trading on Wednesday 23.04.2014 riding on
across the board buying. The BSE benchmark sensex
closed at all-time high of 22,876.54 on increased capital inflows driven
by robust earnings.
The current upsurge was in continuation to a rise of 351.61 points on Thursday, and surpassed its previous intra-day record high of 22,792.49 set on April 10.
The current upsurge was in continuation to a rise of 351.61 points on Thursday, and surpassed its previous intra-day record high of 22,792.49 set on April 10.
Prime India Opportunity on Thursday has offloaded 0.9 percent equity
stake in RS Software. It had bought 1,96,092 equity shares of the
company at Rs 175 on April 1.
German-based promoter Bayer AG, which held 15.65 percent stake as of
March 2014, has reduced stake by selling 5.1 percent equity in Bayer
CropScience on Thursday to its Gujarat-based 100 percent subsidiary
Bilag Industries Private Limited (new name is Bilag Vapi Private
Limited).
Bridge India Fund, the largest non-promoter shareholder, has raised its
stake in Gulf Oil Corporation by 0.5 percent to 8.25 percent on
Thursday.
Huge buying is taking place in Tata Metaliks shares on Thursday as Tata
Steel says its shareholders will meet on May 16 to discuss merger of
Tata Metaliks with the company. The stock gained as much as 20 percent
intraday while Tata Steel climbed over a percent.
The brokerage expects Hathway’s subscriber base to grow to 11 million
from 7.6 million currently. "With 11 million subscriber realised,
average revenue per users (ARPU) will rise by around 75 percent," it
explains.
Brokerages recommended buying the stock further. Citi remains a buyer
with a revised target of Rs 1600 from Rs 1580. Mindtree is one of its
top picks and reassuring commentary impresses the brokerage house.
Gautam Thapar owns 42.7 percent of the power transmission and
distribution company. According to the media report, the entire stake is
on the block.
Reliance Communications says headline tariffs will increase from 1.5
paise per second to 1.6 paise per second, while tariffs on discounted
and promotional plans will increase by up to 20 percent.
Analysts feel the net interest margin may be stable due to wholesale
funds being stable sequentially and guided by the management to be
stable while some expect NIM to moderate 10-12 basis points Q-o-Q.
According to CNBC-TV18 poll, profit after tax of the company is likely
to fall 2.9 percent sequentially to Rs 5,175 crore but revenues (in
rupee terms) may increase 1.7 percent Q-o-Q to Rs 21,662 crore and (in
dollar terms) 2.2 percent to USD 3515 million during March quarter.
Net interest income of the company grew 23.8 percent to Rs 106.49 crore from Rs 86 crore during the same period.
JP Morgan reiterates overweight rating on the stock with a target of Rs
4000. "Infosys 'bread-and-butter'deal win rates are improving. However,
reliance on key veterans for growth is key risk for it," the firm says.
Investors are lapping up shares of Clariant Chemicals (India) after the
company has signed an agreement to sell Thane land for Rs 1,154.25
crore. The stock gained as much as 12.34 percent intraday to touch a new
52-week high of Rs 741.90.
Brokerage house Motilal Oswal Financial Services on Friday has sold
2,91,874 shares of ABG Shipyard at Rs 246.39 on the National Stock
Exchange via block deal that was worth Rs 7.2 crore.
Kedia Securities and Vijay Kishanlal Kedia, largest non-promoter
shareholders, offloaded 2.3 percent stake of Atul Auto via three block
deals.
Bajaj Holdings and Investment, one of the largest non-promoter
shareholders, has sold 3.5 lakh shares of rating agency Credit Analysis
and Research at Rs 800 apiece via block deal on the Bombay Stock
Exchange.
IDBI Trusteeship Services has sold 766,029 equity shares of education
solutions provider CORE Education at Rs 12.99 apiece on April 11 and
11.20 lakh shares at Rs 12.56 on April 1 via block deals that were worth
Rs 2.4 crore.