Reports » India
Indian stock market and companies daily report (January 02, 2014, Thursday)
Indian Markets are expected to open flat today tracking flat opening to SGX Nifty, which is trading marginally down by 0.1%. Most of the Asian indices too are trading flat amid lack of cues as most of the global markets were closed following holiday on Wednesday. Meanwhile, China's manufacturing purchasing managersRs. index came in at 51 for December 2013 which was broadly in-line with the median economist forecast of 51.2.
Indian markets experienced a volatile session and closed marginally lower on Wednesday amid lack of cues from Asia, Europe and US markets which were closed due to the New Year holiday. Meanwhile, the government announced that it will continue its endeavor for liberalizing the foreign direct investment policy in the coming weeks to attract higher foreign investments. Going ahead, trading on Thursday could be impacted by the release of reports on US weekly jobless claims, manufacturing activity, and construction spending.
The trend deciding level for the day is 21,173 / 6,309 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 21,212 - 21,283 / 6,320 - 6,338 levels. However, if NIFTY trades below 21,173 / 6,309 levels for the first half-an-hour of trade then it may correct up to 21,101 - 21,062 / 6,291 - 6,280 levels.
Auto Monthly - December 2013
Mahindra & Mahindra
Mahindra & Mahindra reported slightly lower-than-expected volumes for the month as the total volumes declined 5.7% yoy (9.2% mom) to 56,648 units. Continued weakness in the Automotive segment (led by significant slowdown in utility vehicle sales) was only partially offset by a better-than-expected performance in the Tractor segment. The Tractor segment sustained its strong growth traction, reporting an increase of 15.4% yoy, on the back of good monsoons and better farm output. The Automotive segment (down 12.6% yoy) however, continued to report a disappointing performance, led by a sharp decline of 27.8% yoy in utility vehicle sales. Utility vehicle sales of the company remain impacted by a sluggish demand environment and increased competition. The Four-wheeler pick-up and the Three-wheeler segments however registered a healthy growth of 5.1% and 7.6% yoy respectively. Exports on the other hand posted a decline of 8.7% yoy during the month.
Maruti Suzuki posted lower-than-expected volumes, which declined by 4.4% yoy (1.3% mom) to 90,924 units. Volumes were impacted by a steep fall of 67% yoy in exports. The domestic growth at 5.5% yoy (1.3% mom), however, was broadly in-line with our estimates. The domestic performance continued to be driven by a pick-up in the Mini segment which grew strongly by 16.7% yoy. The Mini segment has registered a growth of 7.9% yoy YTD in FY2014. The Super compact segment too maintained its momentum, registering a strong growth of 18% yoy (0.9% mom) despite stiff competition from Honda's Amaze. Volumes in the Compact (down 14.7% yoy) and Utility vehicle (down 5.5% yoy) segments continued to post sluggish volumes on account of slowdown in demand for diesel cars and also on account of higher competition from Ford and Renault.
Ashoka Buildcon has received LoA for TANGEDCO project
Ashoka Buildcon has received Letters of Acceptance (LoA) for the Projects viz. Execution of Distribution strengthening works under "Re-structured Accelerated Power Development and Reforms Programme (R-APDRP) Part-B" Scheme in Chennai North & South Regions of Tamilnadu Generation and Distribution Co. Ltd. (TANGEDCO), Chennai. The project is on Turnkey basis with total work aggregating to Rs.596.28cr. We maintain our Buy rating on the stock with a target price of Rs.74.
Economic and Political News
- Coal Ministry to seek CCI nod for fast-track mine development
- Government may soon permit FDI in high-speed trains
- Southern power grid connected to national grid
- ONCG to drill more wells in Cambay to explore shale gas
- Steel makers raise price by upto Rs.1,500/tonne
- TNPL sets up paper pulp machinery in Karur district
- Essel Finance to launch US$100mn Shariah fund
Stock Market Forum
- Sell MCX Gold Jun contract at Rs 28960
19 April 2014
- 100% secure stock tips
18 April 2014
- IntelGenx (IGX.V) Reports Second Quarter 2012 Results and Highlights Recent Developme
16 April 2014
- Daily Stock Market Technical Data
16 April 2014
- Skyharbour Resources Ltd. (TSX VENTURE:SYH) Western Athabasca Syndicate Provides Dril
15 April 2014
- Theralase (TSXV: TLT) Developing Next Generation Medical Lasers
15 April 2014
- Get Free Intraday Mcx & Stock Tips Free Trial at Gaining.com
12 April 2014
- Indian Stock Market News
10 April 2014
- Stock market trading calls today
10 April 2014
- Calyx (TSXV: CYX) Provides Corporate Update and Cancels Private Placement Financing
9 April 2014