Views on markets today
- Markets finished flat amid a choppy trading session owing to weakness in metal stocks due to weak Chinese factory data and disappointing quarterly results posted by Tata Steel. Also, earning numbers of blue-chips including ITC and SBI due tomorrow contributed to the decline. However, a stellar rally in the auto stocks led by Bajaj Auto limited losses on the bourses. The Sensex dropped 28 points to end at 27,809 and the Nifty shed 2 points to close at 8,421.
- DLF closed 0.73% up at Rs 124.25 on BSE after consolidated net profit fell 21.87% to Rs 171.62 crore on 16.67% decline in total income to Rs 2101.16 crore in Q4 March 2015 over Q4 March 2014.
- Wabco India closed 2.13% down at Rs 5,563 on BSE after net profit fell 7.26% to Rs 30.39 crore on 21.41% growth in total income from operations (net) to Rs 383.19 crore in Q4 March 2015 over Q4 March 2014.
- Tata Steel closed 5.11% down at Rs 342.90 on BSE after the company posted consolidated net loss of Rs 5674.29 crore in Q4 March 2015 as compared to net profit of Rs 1035.87 crore in Q4 March 2014.
- Among the 12 BSE sectoral indices, 6 indices closed in positive while 6 indices closed in negative. Top Gainers: BSE Realty up by 0.96% and BSE Auto by 0.80%. Top Losers: BSE FMCG down by 0.76% and BSE Power by 0.61%.
Market breadth was negative at ~0.76 as investors sold large cap stocks. On provisional basis, FII's sold Rs 1.86bn worth of Indian equities while DII's bought Rs 4.04bn worth of Indian equities.
Economic and Corporate Developments
- For the sixth quarter in a row, India continued to lead the global confidence index in anticipation of improvement in the economy through reforms and stimulus announced by the central government, says a report.
According to global information and insights provider Nielsen, in the first quarter of 2015, India's consumer confidence score rose to 130 followed by Indonesia (123) and Philippines (115). While, the consumer confidence in urban India has increased by 9 points from first quarter in 2014 (121), 44% of respondents polled feel that India is still in "economic recession".
- The Reserve Bank is in discussions with the government on ways to reduce cash usage in the system and will soon be coming out with a paper on the same, its executive director G Padmanabhan said today.
"We are looking at various ways to incentivise cashless transactions, and various aspects are being considered like looking at charges for card payments," Padmanabhan told reporters on the sidelines of a National Payments Corporation of India event here.
Buzzing Stocks
- Balaji Telefilms closed 5.92% up at Rs 75.10 on BSE after the company reported consolidated net profit of Rs 9.54 crore in Q4 March 2015 as against net loss of Rs 27.40 crore in Q4 March 2014.
- Zee Entertainment Enterprises closed 0.44% down at Rs 316.90 on BSE in a volatile trade after consolidated net profit rose 6.06% to Rs 230.77 crore on 19.51% rise in total income to Rs 1403.47 crore in Q4 March 2015 over Q4 March 2014.
- CESC closed 0.30% down at Rs 587.35 on BSE in a volatile trade after net profit rose 0.41% to Rs 244 cr on 14.64% growth in total income to Rs 1448 cr in Q4 March 2015 over Q4 March 2014.
- Shipping Corporation of India closed 0.09% up at Rs 56.75 on BSE after net profit jumped 666.54% to Rs 101.49 crore on 15.06% decline in total income to Rs 1111.20 crore in Q4 March 2015 over Q4 March 2014.
- Strides Arcolab closed 8.56% up at Rs 1,187.90 on BSE after the firm said it has entered into agreements to acquire a generic pharmaceutical business in Australia and related assets from Aspen for approximately 380 million Australian dollars.
- Lakshmi Machine Works closed 2.13% up at Rs 3,675 on BSE after net profit rose 25.23% to Rs 67.25 cr on 0.64% rise in total income to Rs 683.71 cr in Q4 March 2015 over Q4 March 2014.
- IRB Infrastructure Developers closed 1.28% up at Rs 245.10 on BSE after the company bagged Rs 2650 crore Agra-Etawah Bypass project from National Highway Authority of India.
- Aarti Drugs closed 6.78% down at Rs 687.50 on BSE after net profit fell 14.1% to Rs 18.86 crore on 1.5% decline in net sales to Rs 277.61 crore in Q4 March 2015 over Q4 March 2014.
- Bajaj Auto closed 6.94% down at Rs 2,299.75 on BSE on bargain hunting after net profit fell 18.58% to Rs 622 crore on 4.35% decline in turnover to Rs 4894 crore in Q4 March 2015 over Q4 March 2014.
- Claris Lifesciences closed 10.43% up at Rs 310.30 on BSE on reports Cadila Healthcare plans to acquire the generic sterile injectables business of Claris Lifesciences.
- Crompton Greaves closed 1.44% down at Rs 167.50 on BSE after a faction of employees of the unrecognised union disrupted production at the Nasik factory opposing the wage settlement reached by the management with the recognised union.
- Whirlpool of India closed 2.35% up at Rs 751.65 on BSE after net profit jumped 55.5% to Rs 55.27 crore on 19.8% growth in net sales to Rs 890.08 crore in Q4 March 2015 over Q4 March 2014.
- Mahindra & Mahindra closed 0.68% down at Rs 1,242.50 on BSE in a volatile trade after the company said it has entered into a strategic partnership with Mitsubishi Heavy Industries in the agricultural machinery field.
- Bajaj Finserv closed 0.59% up at Rs 1,458.60 on BSE in a volatile trade after consolidated net profit dropped 0.07% to Rs 707.12 crore on 17.07% rise in total income to Rs 2406.65 crore in Q4 March 2015 over Q4 March 2014.
- TD Power Systems closed 6.65% down at Rs 312.90 on BSE after consolidated net profit declined 95.42% to Rs 0.65 crore on 2.16% growth in total income from operations (net) to Rs 187.06 crore in Q4 March 2015 over Q4 March 2014.
Contributed by Keynote Capitals
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