Indian stock market daily morning report (February 03, 2014, Monday)
February 3, 2014, Monday, 05:18 GMT | 00:18 EST | 10:48 IST | 13:18 SGT
Views on markets today
- It was a lackluster session that saw key indices close marginally higher after slipping to 2-month-lows on Thursday after US Federal Reserve stepped on the gas to taper its monthly-bond buying program.
The 30-share Bombay Stock Exchange (BSE) Sensex ended 16 points higher at 20,513 levels and the 50-unit Nifty index of the National Stock Exchange (NSE) closed at 6,090 levels, up 16 points.
- Hero MotoCorp closed 1.47% down at Rs 1970.45 on BSE after net profit rose 7.53% to Rs 524.66 crore on 11.13% growth in total turnover (net sales and other operating income) to Rs 6,876.7- crore in Q3 December 2013 over q3 December 2012.
- State Bank of India closed 0.53% up at Rs 1,525.60 on BSE after the bank said it raised Rs 8031.64 crore by selling shares through qualified institutional placement.
- Aditya Birla Nuvo closed 3.75% up at Rs 1,105.00 on BSE after the company agreed to sell its business and technology outsourcing firm Aditya Birla Minacs Worldwide at an enterprise value of $260 million.
- Motherson Sumi Systems closed 12.97% up at Rs 203.75 on BSE after consolidated net profit surged 143% to Rs 249.60 crore on 20.49% growth in sales to Rs 7,890 crore in Q3 December 2013 over Q3 December 2012.
- Among the 12 BSE Sectoral Indices 11 Sectors closed in positive while only 1 Sector ended the day in negative. Top Gainers: BSE Realty up by 1.63% and BSE Metal by 1.27%. Top Loser: BSE Auto down by 0.43%.
Market breadth was positive at ~1.44 as investors bought large cap stocks. On provisional basis, FII's sold Rs 6.53bn worth of Indian equities and DII's bought Rs 3.27bn worth of equities.
Economic and Corporate Developments
- Fiscal deficit in the first three quarters of the current fiscal year ending March touched 95.2% of the budgeted target for the whole year, suggesting the finance minister of Asia's third-largest economy faces a tough challenge to meet the target.
The fiscal deficit touched Rs 5.16 trillion during April-December, or 95.2% of the full year target, compared with 78.8% a year ago, government data showed on Friday.
Net tax receipts were at Rs 5.1- trillion in the first nine months of the current fiscal year to March 2014, while total expenditure was Rs 11.64 trillion.
- Balasore Alloys closed 10.36% up at Rs 11.61 on BSE after net profit galloped 793.02% to Rs 11.52 crore on 15.34% growth in total income from operations to Rs 188.62 crore in Q3 December 2013 over Q3 December 2012.
- Balkrishna Industries closed 7.38% up at Rs 326.00 on BSE after net profit jumped 66.4% to Rs 123.85 crore on 24.2% growth in net sales to Rs 867.32 crore in Q3 December 2013 over Q3 December 2012.
- Bayer CropScience closed 2.13% up at Rs 1730.00 on BSE after net profit fell 95.68% to Rs 39 crore on 12.07% rise in net sales to Rs 626.60 crore in Q3 December 2013 over Q3 December 2012.
- Suven Life Sciences closed 3.57% up at Rs 76.95 on BSE after the firm said it has received 3 product patents one each from Canada, China and India corresponding to NCEs for treatment of disorders associated with neurodegenerative diseases.
- Oberoi Realty jumped 4.77%, in the opening trade, to Rs 209.80 on BsE after Supreme Court on Thursday, 30 January 2014, dismissed the previous Bombay High Court order that restricted several acres of forest land in suburban Mumbai for development.
- PVR closed 11.15% down at Rs 536.40 on BSE after net profit declined 10.75% to Rs 12.69 crore on 15.35% growth in total income from operations to Rs 223.50 crore in Q3 December 2013 over Q3 December 2012.
- Neyveli Lignite Corporation closed 3.22% up at Rs 57.75 on BSE after net profit jumped 120.6% to Rs 489.02 crore on 4.7% growth in net sales to Rs 1,314.95 crore in Q3 December 2013 over Q3 December 2012.
- Punjab National Bank closed 5.94% up at Rs 548.60 on BSE after net profit declined 42.14% to Rs 755.41 crore on 3.68% growth in total income to Rs 11,922.30 crore in Q3 December 2013 over Q3 December 2012.
- Union Bank of India closed 4.14% up at Rs 108.05 on BSE after net profit rose 15.39% to Rs 348.94 crore on 18.26% increase in total income to Rs 8,230.17 crore in Q3 December 2013 over Q3 December 2012.
- Adani Enterprises closed 0.83% down at Rs 238.15 on BSE after consolidated net profit declined 83.61% to Rs 68.20 crore on 0.71% growth in total income to Rs 13,747 crore in Q3 December 2013 over Q3 December 2012.
- Marico closed 0.38% up at Rs 212.85 on BSE after consolidated net profit rose 31% to 135 crore on 10% growth in revenue from operations to Rs 1,201 crore in Q3 December 2013 over Q3 December 2012.
- IRB Infrastructure Developers closed 5.04% up at Rs 77.10 on BSE after the company at the time of announcement of its Q3 December 2013 results said it has good order book visibility for the next three years.