Markets Today
- Markets ended the session on a mixed note, amid choppy trades, as investors turned cautious ahead of May F&O expiry due on Thursday. Disappointing earnings from Tata Motors and Tech Mahindra were a major drag on the markets. However, buying demand among financials and oil shares limited the losses to a great extent.
Meanwhile, the sentiment was dampened further by concerns surrounding US interest rate hike after the US reported better-than-expected economic data. The Sensex ended the session at 27,564.66, higher by 33.25 points or 0.12%, while the Nifty settled below the crucial technical level of 8,350 at 8,335, down 5 points or 0.06%.
- Among the 12 BSE sectoral indices, 8 indices closed in positive while 4 indices closed in negative. Top Gainers: BSE Bankex up by 1.19% and BSE Oil & Gas by 0.97%. Top Losers: BSE Auto down by 2.11% and BSE IT by 1.88%.
Market breadth was negative at ~0.83 as investors sold large cap stocks. On provisional basis, FII's sold Rs 9.34bn worth of Indian equities while DII's bought Rs 5.94bn worth of Indian equities.
Economic and Corporate Developments
- The highest ever addition in electricity generation capacity in the past one year has led to power deficit in the country dipping to an all time low of 3.6%, Power and Coal Minister Piyush Goyal said today. Highlighting the achievements of the Narendra Modi Government in power and coal sector, he told at a press conference that 22,566 mega-watt (MW) of generation capacity was added in the last one year.
Also, there has been the highest ever increase in transmission line capacity of 22,100 circuit km and highest ever increase in substation capacity of 66,554 MW, he said. “Power deficit at 3.6% in India is the lowest in its history.” Goyal said state-owned Coal India Ltd produced a record 32 million tonnes of dry fuel and is looking at producing 100 million tonnes by 2020.
- The country will become self-reliant in urea and fertiliser in the next four years and is aiming to become the steel hub of the world, Union Minister for Chemicals and Fertilisers, Ananth Kumar said. In fact, India will be an export-focussed country from the current import-oriented one in the urea sector, Kumar, who was here to take part in Jan Kalyan Parv to mark one year of the Narendra Modi government, told reporters today.
Buzzing Stocks
- GAIL (India) closed 1.84% down at Rs 381.15 on BSE after net profit fell 47.45% to Rs 510.75 crore on 2.99% decline in total income to Rs 14529.95 crore in Q4 March 2015 over Q4 March 2014.
- Hind Rectifiers closed 13% up at Rs 73 on BSE after net profit rose 36.28% to Rs 3.23 crore on 3.94% fall in net sales to Rs 34.82 crore in Q4 March 2015 over Q4 March 2014.
- TTK Prestige closed 5.68% down at Rs 3,701 on BSE after net profit dropped 62.76% to Rs 9.76 crore on 5.01% increase in total income to Rs 287.24 crore in Q4 March 2015 over Q4 March 2014.
- Shares of three public sector oil marketing companies closed 1.88% to 3.27% up on BSE as global crude oil prices declined yesterday, 26 May 2015. BPCL (up 1.88%), HPCL (up 2.44%) and Indian Oil Corporation (up 3.27%) edged higher.
- United Spirits closed 2.98% down at Rs 3,509.05 on BSE after the company reported net loss of Rs 1799.28 crore in Q4 March 2015, lower than net loss of Rs 5380.10 crore in Q4 March 2014.
- Bharat Heavy Electricals closed 3.34% up at Rs 249.05 on BSE, with the stock extending yesterday's gain triggered by reporting strong results on sequential basis in Q4 March 2015.
- Reliance Power closed 1.12% up at Rs 54.15 on BSE after consolidated net profit rose 2.8% to Rs 276.47 crore on 20.1% increase in total income to Rs 1680.77 crore in Q4 March 2015 over Q4 March 2014.
- Tech Mahindra closed 14.24% down at Rs 549.35 on BSE after consolidated net profit before special adjustment related to Mahindra Engineering Services fell 39.23% to Rs 472 crore in Q4 March 2015 over Q3 December 2014.
- Tata Motors closed 5.12% down at Rs 471.65 on BSE after consolidated net profit declined 56.2% to Rs 1716.50 crore on 3.4% increase in total income to Rs 67821.21 crore in Q4 March 2015 over Q4 March 2014.
- Shares of Vedanta closed 1.69% down at Rs 192.05 on BSE after the company bought upto 5.33% stake in subsidiary Cairn India at an average market price of Rs 220.40 per share, the oil company said in an exchange filing today.
- Bharti Airtel closed 1.91% up at Rs 408.50 on BSE after Tanzania's government agreed to buy back a 35% stake in the state-run telecom company from the local subsidiary of Bharti Airtel for 14.6 billion shillings ($7.07 million), a senior official said.
- ABG Shipyard closed 1.62% down at Rs 146.05 on BSE touching an intraday low of Rs 136.80 its lowest level since May 2009, after the company said that its standalone net loss had widened to Rs 375 crore in the quarter ended March 2015 (Q4) due to a massive fall in total income.
Contributed by Keynote Capitals
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