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Reports India

Indian stock market daily morning report (April 15, 2014, Tuesday)

April 15, 2014, Tuesday, 05:23 GMT | 01:23 EST | 09:53 IST | 12:23 SGT
Contributed by Keynote Capitals


Views on markets today

- Benchmark share indices ended lower, amid weak global cues, as traders booked profits ahead of the truncated week and February IIP data due for release later. Meanwhile, markets came off their day's lows in late trades following a rebound in IT shares ahead of fourth quarter earnings from Infosys early next week.

The 30-share Sensex ended down -6 points at 22,629 and the 50-share Nifty closed 20 points lower at 6,776.

- Maruti Suzuki India closed 1.46% down at Rs 1,930.50 on BSE after the company said it will proactively replace fuel filler neck of 103,311 vehicles manufactured between 12th November, 2013 and 4th February, 2014.

Man Industries (India) rose 2.2-%, in the morning trade, to Rs 71.-0 on BSE, with the stock extending Thursday's rally triggered by the company's robust order book.

Shares of Shasun Pharmaceuticals and Sequent Scientific closed 5.06% to 6.23% up on BSE as the joint venture company of these two firms has successfully completed the transactions which were agreed upon at the time of formation of the JV firm.

Among the 12 BSE sectoral indices, 5 indices closed on positive while 7 indices ended the day in negative. Top Gainers: BSE IT up by 1.54% and BSE Teck by 1.21%. Top Losers: BSE Oil & Gas down by 1.2-% and BSE Auto by 1.20%.

Market breadth was positive at ~1. 16 as investors bought large cap stocks. On provisional basis, FII's sold Rs 3.62bn worth of Indian equities and DII's bought Rs 3.65bn worth of equities.


Economic and Corporate Developments

- Gold and silver imports into India, the world's second-biggest buyer of the metal, dropped 40% to $33.46 billion in 2013/14, a trade ministry source said on Friday, following a series of restrictions imposed by the government to curtail the current account deficit.

However, the fall in gold and silver imports narrowed in March, registering a fall of 17.27% from a year earlier to $2.76 billion, the source, who did not want to be named, told Reuters.

Last month, the Reserve Bank of India (RBI) allowed five more private banks to import the yellow metal, in what many saw it as a first significant step in easing of tough rules on imports.


Buzzing Stocks

- Tata Motors closed 1.69% down at to Rs 423.50 on BSE after the company's British luxury car unit Jaguar Land Rover reported good sales in Q1 March, 2014.

- Adani Enterprises closed 7.37% down at Rs 435.60 on BSE, with the stock reversing recent rally on profit booking.

- GTL Infrastructure was locked at 5% upper circuit at Rs 1.90 on BSE after the company said it has allotted 1-.55 lakh equity shares upon conversion of FCCBs at a conversion price of Rs 10 per share.

- NCC closed 13.0-% up at Rs 51.45 on BSE, with the stock extending recent steep rally triggered by the company's board of directors approving raising funds upto an amount of Rs 650 crore through rights issue of equity shares.

- IndusInd Bank closed 4.4-% down at Rs 4--.95 on BSE after the Reserve Bank of India notified that foreign share holding in the private sector bank has reached the trigger limit.

- Piramal Enterprises closed 5.43% up at Rs 5-6.35 on BSE, with the stock extending Thursday's 3.73% gains triggered by the firm's announcement that it has agreed to divest its entire equity stake in Vodafone India.

- Sanghi Industries surged 6.7-%, in the morning trade, to Rs 1-.10 on BSE, after 1.9-% equity changed hands in a bulk deal on BSE today, 11th April 2014.

- Bharat Forge closed 1.26% down at Rs 439.25 on BSE, with the stock sliding on profit booking after recent gains.

- Housing Development & Infrastructure gained 1.52%, in the morning trade, to Rs 76.75 on BSE after a foreign fund hiked its stake in the realty firm through a bulk deal on Thursday, 10th April 2014.

- Prime Focus closed 4.15% up at Rs 31.35 on BSE, with the stock extending recent rally triggered by the company's technology subsidiary raising Rs 45 crore through a private placement of optionally convertible debentures.

- Ester Industries closed 3.57% up at Rs 13.05 on BSE after the company said it has allotted 2.07 crore warrants each convertible into one equity share at a conversion price of Rs 10.10 per share to a non-promoter entity on preferential basis.

- Ratnamani Metals & Tubes closed 2.10% up at Rs 265.50 on BSE, after the company bagged two orders for supply of Carbon Steel Pipes aggregating to Rs 412.62 crore.

- Electrosteel Castings closed 2.73% up at Rs 22.60 on BSE after the company said its board of directors have decided to issue equity shares to the promoters of the company on preferential basis.

- NMDC closed 0.97% up at Rs 151.10 on BSE after the company unveiled provisional production and dispatches data for the year ended 31st March, 2014.

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