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Reports India

Indian stock market and companies daily report (August 12, 2014, Tuesday)

August 12, 2014, Tuesday, 06:04 GMT | 01:04 EST | 09:34 IST | 12:04 SGT
Contributed by Angel Broking


Views on markets today

- Markets snapped three day losing streak, amid firm global cues, led by auto shares post upbeat first quarter earnings and encouraging sales growth in July.

The 30-share Sensex ended up 190 points at 25,519 and the 50-share Nifty climbed 57 points to end at 7,626.

- Adani Enterprises closed 5.66% up at Rs 479.60 on BSE after the company reported a consolidated net profit of Rs 556.74 crore in Q1 June 2014 compared with net loss of Rs 278.30 crore in Q1 June 2013.

- Seven infrastructure stocks rose 0.51% to 4.93% on BSE after the market regulator Sebi has approved the SEBI (Infrastructure Investment Trusts) Regulations, 2014.

Gammon Infrastructure Projects (up 4.93%), GVK Power & Infrastructure (up 1.48%), IVRCL (up 1.80%), Lanco Infratech (up 2.27%), Punj Lloyd (up 1.04%), L&T (up 1.31%) and Jaiprakash Associates (up 0.51%).

- Eleven realty shares rose by 0.05% to 2.81% on BSE after market regulator gave a final approval to establish real estate investment trusts.

Phoenix Mills (up 0.71%), Indiabulls Real Estate (up 1.05%), Parsvnath Developers (up 1.56%), Peninsula Land (up 0.29%), DLF (up 2.42%), Oberoi Realty (up 1.18%), Anant Raj (up 2.81%), Unitech (up 0.77%), HDIL (up 2.03%), Godrej Properties (up 0.18%) and Sunteck Realty (up 0.05%), edged higher.

- Among the 12 BSE Sectoral Indices 9 Indices closed in positive while 3 Indices ended the day in negative. Top Gainers: BSE Auto up by 2.65% and BSE Realty by 0.96%. Top Losers: BSE Power down by 0.48% and BSE FMCG by 0.41%.

Market breadth was positive at ~1.43 as investors bought large cap stocks. On provisional basis, FII's sold Rs 1.63bn worth of Indian equities while DII's bought Rs 2.34bn worth of equities.


Economic and Corporate Developments

In June the Reserve Bank of India (RBI) allowed banks to appoint NBFC MFIs as business correspondent, a step in sync with the new financial inclusion programme of the government.

However, so far, the experience of MFIs, which have been operating as business correspondent of banks through their not-for-profit wings, has been ridden with operational difficulties.

Instead of being business correspondent, the MFIs want to be agents of banks, which will give them more operational freedom, according to Samit Ghosh, president MFIN and founder of Ujjivan.


Buzzing Stocks

- GAIL (India) closed 4.34% down at Rs 390.15 on BSE after net profit declined 23.1% to Rs 621.44 crore on 4.53% growth in total income to Rs 13544.66 crore in Q1 June 2014 over Q1 June 2013.

- Marico Kaya Enterprises closed 4.65% up at Rs 282.25 on BSE after the company reported a consolidated net profit of Rs 0.63 crore in Q1 June 2014 compared with net loss of Rs 5.90 crore in Q1 June 2013.

- Steel Authority of India closed 2.03% up at Rs 83.00 on BSE after net profit rose 17.51% to Rs 529.8- crore on 9.93% growth in total income to Rs 11536.9- crore in Q1 June 2014 over Q1 June 2013.

- Bosch closed 0.72% up at Rs 13,648.70 on BSE after net profit surged 21.85% to Rs 306.6- crore on 4.05% growth in total income to Rs 2492.19 crore in the quarter ended 30 June 2014 over the quarter ended 30 June 2013.

- Mahindra & Mahindra closed 6.45% up at Rs 1,308.40 on BSE after the company's management issued encouraging outlook.

- Madhucon Projects hit an upper circuit limit of 5% at Rs 40.40 on BSE after net profit rose 177.35% to Rs 6.49 crore on 40.43% rise in net sales to Rs 146.12 crore in Q1 June 2014 over Q1 June 2013.

- Diamond Power Infrastructure closed 4.40% up at Rs 115.00 on BSE after net profit rose 7.2% to Rs 36.46 crore on 39.64% growth in total income to Rs 805.04 crore in Q1 June 2014 over Q1 June 2013.

- Godawari Power and Ispat hit an upper circuit limit of 10% at Rs 153.25 on BSE after consolidated net profit surged 113.82% to Rs 58.93 crore on 16.79% increase in net sales to Rs 596.95 crore in Q1 June 2014 over Q1 June 2013.

- Bank of India closed 3.72% up at Rs 277.30 on BSE after the bank said it has raised an amount of Rs 2500 crore by issue of Basel III complaint, additional Tier-1 bonds by way of private placement.

- Godrej Industries closed 2.01% up at Rs 334.50 on BSE after consolidated net profit rose 46% to Rs 7- crore on 23% increase in total income to Rs 2394 crore in Q1 June 2014 over Q1 June 2013.

- Sun TV Network closed 5.50% down at Rs 396.85 on BSE after net profit rose 0.72% to Rs 165.64 crore on 5% growth in revenue including the IPL revenue to Rs 633.5- crore in Q1 June 2014 over Q1 June 2013.

- IDBI Bank closed 2.41% down at Rs 81.10 on BSE on reports the Central Bureau of Investigation launched a probe into IDBI Bank's Rs 950-crore loan to Kingfisher Airlines.

- Emami closed 4.81% up at Rs 561.25 on BSE after consolidated net profit rose 16.69% to Rs 70.81 crore on 26.01% growth in total income to Rs 502.50 crore in Q1 June 2014 over Q1 June 2013.

- Bhushan Steel was locked at 10% lower circuit at Rs 197.45 on BSE on reports the State Bank of India will push for appointing a managing agency to run Bhushan Steel after the arrest of its vice-chairman and MD Neeraj Singal.