• Indian stock market daily morning report (September 14, 2015, Monday)

    Markets Today

    - Benchmark share indices came off their early highs to end flat as investors turned cautious ahead of the July IIP data to be released later today and consumer price inflation data for August on Monday in addition to the US Fed's stance on key interest rates next week.

    The 30-share Sensex ended down 12 points at 25,610 after touching a high/low of 25,876/25,530 and the Nifty ended up 1 point at 7,789 after hitting a high/low of 7,865/7,834. In the broader markets, the BSE Mid-cap ended up 0.2% while the Small-cap index gained 0.6%.

    - Godrej Consumer Products closed 1.36% up at Rs 1,224.80 on BSE after the company said it has completed the acquisition of balance 40% stake in Cosmetica Nacional, a market leading hair colorant and cosmetics company in Chile.

    - Arvind closed 0.62% up at Rs 261.30 on BSE after the company said it struck a deal to run the Indian operations of cosmetics and beauty retailer Sephora, owned by a French luxury conglomerate.

    - Raymond closed 1.25% down at Rs 387.55 on BSE on profit booking after the company said that its wholly-owned subsidiary completed the acquisition of Robot Systems from Gokaldas Exports for Rs 28 crore.

    - TVS Motor Company closed 1.93% up at Rs 232.60 on BSE after the company said it signed a memorandum of understanding with the Government of Tamil Nadu.

    - Among the 12 BSE sectoral indices, 7 indices closed in positive shile 5 indices closed in negative. Top Gainers: BSE Realty up by 0.73% and BSE IT by 0.44%. Top Losers: BSE Metal down by 1.53% and BSE Capital Goods by 0.52%.

    Market breadth was positive at ~1.24 as investors bought large cap stocks. On provisional basis, FII's sold Rs 7.54bn worth of Indian equities while DII's bought Rs 4.11bn worth of Indian equities.


    Economic and Corporate Developments

    - Aided by strong show on capital goods front, factory output growth for July came in at 4.2%, much higher than 3.8% growth recorded in June this year. For April-July 2015, the index of industrial production (IIP) recorded 3.5%, marginally lower than 3.6% growth in same period last year. Capital goods output grew 10.6% in July as against contraction of 3% in same month last year. In nine out of last ten months, capital goods output has recorded positive growth. Manufacturing sector - which accounts for 75% weightage in IIP - -grew 4.7% in July as against contraction of 0.3% in July last year.

    - The FIPB today cleared 14 foreign investment proposals including that of Shyam Sistema Teleservices and IIFL Holdings. The Foreign Investment Promotion Board (FIPB) chaired by Economic Affairs Secretary Shaktikanta Das in its meeting considered 23 FDI proposals, deferred decisions on five and rejected four.


    Buzzing Stocks

    - Amtek Auto closed 53.62% up at Rs 46.70 on BSE after the company said it raised Rs 74.99 crore through preferential allotment of 44.37 lakh equity shares to the promoter group companies.

    - Manappuram Finance closed 3.61% up at Rs 21.50 on BSE on bargain hunting after the stock fell 9.19% in the preceding five trading sessions to Rs 20.75 yesterday, 10 September 2015, from a recent high of Rs 22.85 on 3 September 2015.

    - JMC Projects (India) closed 3.47% up at Rs 205.90 on BSE after the company said that its board of directors approved raising of funds upto Rs 160 crore through rights issue of equity shares to the existing shareholders of the company.

    - Sundaram Multi Pap closed 5.41% up at Rs 2.34 on BSE after the company said its subsidiary E-Class Education System has partnered with Techno Electronics for a tablet tender by Brihanmumbai Municipal Corporation.

    - Shares of two aviation companies closed 5.21% to 5.80% up on BSE after robust earnings of unlisted rival IndiGo boosted hopes of a turnaround in the aviation sector. Jet Airways (India) (up 5.80%) and SpiceJet (up 5.21%), edged higher.

    - SeQuent Scientific closed 3.42% up at Rs 847.50 on BSE after the company announced that its wholly owned subsidiary SeQuent Research has opened its new Good Laboratory Practices compliant Analytical Services Centre at Bengaluru.

    - Engineers India closed 0.62% down at Rs 185.60 on BSE on profit booking after the stock rose 6.02% in the preceding four trading sessions to Rs 186.75 yesterday, 10 September 2015, from a recent low of Rs 176.15 on 4 September 2015.

    - Sobha closed 4.06% up at Rs 265.35 on BSE on bargain hunting after the stock fell 11.04% in the preceding seven trading sessions to Rs 255 yesterday, 10 September 2015, from a recent high of Rs 286.65 on 1 September 2015.

    - Elder Pharmaceuticals was locked at upper circuit of 20% at Rs 100.80 on BSE on media reports that the company is planning to sell its assets for debt reduction.

    - Sun Pharmaceutical Industries closed 0.64% up at Rs 845.60 on BSE after the company in a clarification with regard to media reports on divestment of Ireland plant said that the Ireland facility has been identified by the firm for divestment.

    - Brooks Laboratories hit a lower circuit of 10% at Rs 58.30 on BSE after the stock market regulator issued a final order banning the company, its directors and other key personnel from the securities markets for five years.

    - IL&FS Engineering and Construction Company closed 1.63% down at Rs 66.40 on BSE after market regulator Sebi yesterday, 10 September 2015, directed the company to disgorge Rs 59.16 crore among others in Satyam scam case.

    - Ashapura Intimates Fashion closed 0.04% up at Rs 231.40 on BSE after the company said that its board of directors will meet on 18 September 2015, to consider preferential allotment of warrants.

    - MRF closed 0.26% down at Rs 40.533.60 on BSE on profit booking after the company said it signed a memorandum of understanding with the Government of Tamil Nadu.

    Contributed by Keynote Capitals
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