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Indian stock market daily morning report (August 08, 2014, Friday)

August 8, 2014, Friday, 06:45 GMT | 01:45 EST | 11:15 IST | 13:45 SGT
Contributed by Keynote Capitals


Views on markets today

- Benchmark share indices ended lower on Thursday, amid a volatile trading session, with IT majors declining the most after the rupee appreciated against the US dollar and lower revenue growth guidance from its competitor Cognizant.

The S&P BSE Sensex lost 76 points to end at 25,589 while the CNX Nifty shed 23 points to end at 7,649.

- Shares of nine companies whose business is related to railways surged by 1.22% to 11.6%, in the intraday trade, on BSE, after the Cabinet on Wednesday, 6th August, 2014 reportedly approved up to 100% foreign direct investment in railway infrastructure.

Texmaco Rail and Engineering (up 11.6%), BEML (up 3.51%), Titagarh Wagons (up 4.98%), Kalindee Rail Nirman (Engineers) (up 5%), Kernex Microsystems (India) (up 4.95%), Stone India (up 4.88%), Hind Rectifiers (up 4.94%), Container Corporation of India (up 2.04%) and Bharat Heavy Electricals (up 1.22%) edged higher.

- Shares of seven defence equipment makers rose 0.09% to 3.2%, in the intradat trade, on BSE after the Union Cabinet on Wednesday, 6th August, 2014 reportedly approved raising the foreign direct investment limit in defence sector to 49% from 26%.

Bharat Electronics (up 1.32%), Taneja Aerospace (up 1.31%), Bharat Electronics (up 1.33%), Dynamatic Technologies (up 3.2%), Astra Microwave Products (up 1.45%), Walchandnagar Industries (up 0.09%) and BEML (up 0.51%) gained.

- Puravankara Projects closed 8.68% up at Rs 96.80 on BSE after consolidated net profit declined 14.55% to Rs 58.25 crore on 25.11% growth in total income from operations to Rs 461.62 crore in Q1 June, 2014 over Q1 June, 2013.

- Vesuvius India closed 3.63% down at Rs 787.70 on BSE after net profit declined 20.19% to Rs 14.11 crore on 3.9% growth in total income from operations to Rs 157.65 crore in Q2 June, 2014 over Q2 June, 2013.

- Among the 12 BSE Sectoral Indices 2 Indices closed in positive while 10 Indices ended the day in negative. Top Gainers: BSE Consumer Durables up by 0.75% and BSE Oil & Gas by 0.46%. Top Losers: BSE IT down by 1.27% and BSE Teck by 1.14%.

Market breadth was negative at ~0.75 as investors sold large cap stocks. On provisional basis, FII's sold Rs 0.73bn worth of Indian equities while DII's bought Rs 2.28bn worth of equities.


Buzzing Stocks

- Jindal Steel & Power closed 3.04% up at Rs 282.60 on BSE after declaring Q1 result after market hours on Wednesday, 6th August, 2014.

- JB Chemicals & Pharmaceuticals closed 3.77% down at Rs 189.00 on BSE, with the stock sliding on profit booking after Wednesday's 15.12% rally triggered by the company reporting strong Q1 earnings.

- Rossel India was locked at 5% lower circuit at Rs 57.30 on BSE after the company reported net loss of Rs 3.20 crore in Q1 June, 2014 as against net profit of Rs 0.59 crore in Q1 June, 2013.

- GlaxoSmithkline Consumer Healthcare closed 0.25% up at Rs 4,885.70 on BSE after net profit rose 8.46% to Rs 130.12 crore on 8.92% growth in total income to Rs 1,011.73 crore in Q1 June, 2014 over Q1 June, 2013.

- Bharti Infratel closed 6.59% up at Rs 253.05 on BSE, as the floor price for offer for sale of shares by promoter Bharti Airtel was set at a discount to the stock's ruling market price.

- Shasun Pharmaceuticals closed 3.43% down at Rs 149.20 on BSE after the company reported consolidated net loss of Rs 4.80 crore in Q1 June, 2014, lower than net loss of Rs 6.57 crore in Q1 June, 2013.

- Lakshmi Machine Works closed 2.82% up at Rs 3,853.20 on BSE after net profit jumped 91.4% to Rs 48.57 crore on 36% growth in total income to Rs 598.41 crore in Q1 June, 2014 over Q1 June, 2013.

- Amara Raja Batteries closed 1.29% up at Rs 523.25 on BSE, with the stock extending Wednesday's gains triggered by the company reporting decent Q1 earnings.

- Gati closed 4.84% up at Rs 130.95 on BSE after consolidated net profit jumped 71.64% to Rs 11.50 crore on 23.39% growth in total income to Rs 397.63 crore in Q1 June, 2014 over Q1 June, 2013.

- Pricol closed 8.06% up at Rs 44.50 on BSE after net profit declined 86.09% to Rs 6.14 crore on 11.07% growth in total income from operations to Rs 231.16 crore in Q1 June, 2014 over Q June, 2013.

- M M Forgings was locked in 20% upper circuit at Rs 283.90 on BSE after net profit rose 70% to Rs 13.24 crore on 26.7% rise in net sales to Rs 121.31 crore in Q1 June, 2014 over Q1 June, 2013.

- Trident closed 10.42% down at Rs 22.35 on BSE after net profit declined 26.92% to Rs 32.30 crore on 4.6% growth in net revenue to Rs 913.30 crore in Q1 June, 2014 over Q1 June, 2013.

- Bhushan Steel was locked in 20% lower circuit at Rs 243.70 on BSE, with the stock extending recent fall.

- Atul Auto closed 5.33% up at Rs 659.70 on BSE, after HDFC Mutual Fund bought 2.73% stake in the company on Wednesday, 6th August, 2014.