• Indian stock market daily morning report (May 05, 2015, Tuesday)

    Views on markets today

    - Benchmark indices rebounded after losses in the previous three week to end nearly two percent higher, amid short covering, led by a rally in auto and oil stocks.

    The passage of the Finance Bill 2015-16 laying emphasis on clarifications on issues like the Income Tax Return form and the Minimum Alternate Tax (MAT) levied to FIIs also boosted sentiment.

    The 30-share Sensex ended 479 points higher at 27,491 and the 50-share Nifty surged 150 points to close at 8,332.

    - ONGC surged 7.4% on reports that the government will foot the entire subsidy bill that oil marketing companies incur on selling LPG and kerosene below market prices in FY2016.

    - Bajaj Auto closed 7.40% up at Rs 2,093.70 on BSE after total sales rose 1% to 3.36 lakh units in April 2015 over April 2014.

    - All the 12 BSE sectoral indices closed in positive. Top Gainers: BSEOil & Gas up by 3.52%, BSE Realty by 2.51%, BSE Healthcare by 2.35% and BSE FMCG by 2.08%.

    Market breadth was positive at ~2.35 as investors sold large cap stocks. On provisional basis, FII's bought Rs 0.60bn worth of Indian equities while DII's bought Rs 1.46bn worth of Indian equities.


    Economic and Corporate Developments

    - India's manufacturing activities; now a focus area for the government at the Centre saw a moderation in growth in April when compared with the previous month, because of lower new orders, showed the widely tracked HSBC Purchasing Managers' Index (PMI). As expansion in new orders slowed, firms did not increase output much and reduced hiring. Manufacturing PMI in April fell to 51.3 points from 52.1 in March. But it was higher than the 51.2 points in February.

    - Railway Minister Suresh Prabhu has advocated the need for having a regulatory mechanism independent of the service provider for attracting private capital into Railways. Asked about the contours of the proposed regulatory body, he said, "(It would be) like all regulators on telecom, power or Sebi." He further said, "Arvind Pangariya has been requested to suggest a road map. He is independent, very intellectual, very competent and also part of our system as he is vice chairperson in NITI Ayog.

    - Permanent Account Number (PAN) has been made mandatory for private firms seeking central excise registration. The registration will now be given within two days of filing online applications, as per the new simplified rules formed by the Finance Ministry "to improve the ease in doing business in manufacturing". Applicants seeking registration shall mandatorily quote PAN of the proprietor or the legal entity being registered in the application form, a Finance Ministry order said.


    Buzzing Stocks

    - Adani Ports & Special Economic Zone closed 9.07% up at Rs 346.40 on BSE after consolidated net profit rose 24.71% to Rs 660.73 crore on 54.56% rise in net sales to Rs 1668.25 crore in Q4 March 2015 over Q4 March 2014.

    - Zee Entertainment Enterprises closed 2.48% up at Rs 320.50 on BSE after 0.41% equity changed hands in a bulk deal on BSE today, 4 May 2015.

    - Future Retail closed 12.06% up at Rs 129.65 on BSE after the company's board of directors approved the consolidation and realignment of its retail operations with Bharti Retail.

    - Shriram Transport Finance Company closed 14.93% down at Rs 828.20 on BSE after consolidated net profit declined 73.25% to Rs 84.23 crore on 12.65% rise in operating income to Rs 2420.82 crore in Q4 March 2015 over Q4 March 2014.

    - Aditya Birla Nuvo and Pantaloons Fashion and Retail surged on BSE after the Aditya Birla Group announced it will consolidate all its branded apparel businesses into Pantaloons Fashion and Retail. Aditya Birla Nuvo closed 12.59% up at Rs 1,768 while Pantaloons Fashion and Retail closed 19.93% up at Rs 136.60.

    - NTPC closed 1.36% up at Rs 152.35 on BSE after the company signed a pact with the State Government of Jharkhand for performance improvement and capacity expansion of Patratu Thermal Power Station.

    - TVS Motor Company closed 5.84% up at Rs 249.35 on BSE, after the company reported 14% rise in total sales to 1.95 lakh units in April 2015 over April 2014.

    - Grasim Industries closed 0.58% up at Rs 3,618.25 on BSE in a volatile trade after consolidated net profit fell 25.4% to Rs 506.68 crore on 4.48% rise in total income to Rs 8929.23 crore in Q4 March 2015 over Q4 March 2014.

    - Tata Motors closed 0.34% down at Rs 506.70 on BSE, with the stock reversing initial gain triggered by declaring good sales in April 2015.

    - Oberoi Realty closed 7.23% up at Rs 290 on BSE after consolidated net profit rose 33.74% to Rs 103.02 crore on 54.35% rise in net sales to Rs 338.59 crore in Q4 March 2015 over Q4 March 2014.

    - IDFC closed 0.06% up at Rs 167.95 on BSE in a volatile trade after consolidated net profit rose 48.17% to Rs 382.21 crore on 16.4% growth in total income to Rs 2583.78 crore in Q4 March 2015 over Q4 March 2014.

    - Maruti Suzuki India closed 0.71% up at Rs 3,758.65 on BSE after the company's total sales jumped 29.6% to 1.11 lakh units in April 2015 over April 2014.

    - Shares of Mahindra & Mahindra closed 4.72% up at Rs 1,199.25 on BSE after the company reported strong growth in tractor exports during April 2015 compared with the same month last year.

    - Hindalco closed 3.25% up at Rs 133.25 on BSE as the company need not apply for fresh environment clearances (EC) for four blocks allotted to them in the recent auction as the government has transferred to them the approvals granted to the earlier allottees.

    Contributed by Keynote Capitals
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