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Indian stock market daily morning report (February 14, 2014, Friday)
Views on markets today
- Market snapped its three day winning streak as investors booked profits at higher levels. Weakness in Asia and Europe dragged domestic benchmark share indices with banking and financial stocks leading the decline.
The 30-share Sensex ended 255 points, or 1.25 percent lower than its previous close at 20,193 levels and the 50-unit Nifty was down 83 points at 6,001.
- Tata Communications closed 3.85% down at Rs 290.80 on BSE after consolidated net profit declined 54.56% to Rs 36.51 crore on 0.02% growth in net sales to Rs 4,953.65 crore in Q3 December 2013 over Q2 September 2013.
- Hindalco Industries closed 3.19% down at Rs 100.20 on BSE after net profit declined 23.04% to Rs 334 crore on 5.83% growth in revenue from operations to Rs 7,273 crore in Q3 December 2013 over Q3 December 2012.
- Shares of three credit rating agencies gained 1.03% to 4.4%, in the intraday trade, on BSE after CARE announced that a consortium led by IDBI Bank is in talks with potential buyers to offload stake in the company.
CRISIL (up 4.4%), CARE (up 3.73%) and ICRA (up 1.03%) edged higher.
- Among the 12 BSE Sectoral Indices only 1 Sector closed in positive while 11 Sectors ended the day in negative. Top Gainer: BSE Realty up by 0.39%. Top Losers: BSE bankex down by 2.11% and bSe Capital Goods by 2.06%.
Market breadth was sharply negative at ~0.53 as investors sold large cap stocks. On provisional basis, FII's bought Rs 4.00bn worth of Indian equities and DII's sold Rs 2.92bn worth of equities.
Economic and Corporate Developments
- Consumer Price Index-based inflation, a widely tracked rate after a Reserve Bank of India (RBI) panel recommended targeting it, has declined for a second month in a row. The rate of price rise fell to a two-year low of 8.79 per cent in January from 9.87 per cent in the previous month. The inflation had reached a record 11.16 per cent in November and was blamed for the Congress' rout in the recent assembly elections.
Inflation in both urban's and rural parts is on a downswing. While it fell to 8.09 per cent in January from 9.11 per cent in December in urban India, rural areas saw the rate of rise coming down to 9.43 per cent from 10.49 per cent.
- Max India rose 1.88%, in the morning trade, to Rs 189.75 on BSE after net profit surged 176.68% to Rs 73.6- crore on 16.58% growth in total income to Rs 295.54 crore in Q3 December 2013 over Q3 December 2012.
- Cipla closed 7.70% down at Rs 381.00 on BSE after consolidated net profit fell 17% to Rs 284 crore on 22% growth in income from operations to Rs 2,581 crore in Q3 December 2013 over Q3 December 2012.
- Coal India closed 3.39% down at Rs 267.10 on BSE, after consolidated net profit fell 11.39% to Rs 3,894.09 crore on 2.92% fall in total income to Rs 19,110.74 crore in Q3 December 2013 over Q3 December 2012.
- Eicher Motors closed 8.81% up at Rs 4,809.95 on BSE after net profit jumped 117.9% to Rs 74.43 crore on 78% growth in net sales to Rs 525.44 crore in Q4 December 2013 over Q4 December 2012.
- Reliance Industries closed 1.22% down at Rs 807.45 on BSE on reports that the Anti-Corruption Bureau of the Delhi state government has registered a FIR on Chief Minister Arvind Kejriwal's complaint on gas pricing.
- Tata Motors rose 1.16%, in the afternoon trade, to Rs 380.40 on BSE, after the company's British luxury car unit Jaguar Land Rover reported 12% rise in sales to 39,106 vehicles in January 2014 from January 2013.
- NCC closed 7.31% down at Rs 24.10 on BSE after consolidated net profit declined 61.58% to Rs 4.76 crore on 22% growth in turnover to Rs 1,903.1- crore in Q3 December 2013 over Q3 December 2012.
- Muthoot Finance closed 7.88% down at Rs 163.40 on BSE on profit booking after recent sharp rally.
- United Breweries closed 1.97% up at Rs 803.70 on BSE after net profit surged 65.6% to Rs 55.51 crore on 13.68% increase in total income to Rs 956.- crore in Q3 December 2013 over Q3 December 2012.
- Hindustan Copper closed 3.23% down at Rs 59.85 on BSE after net profit declined 9.1% to Rs 68.96 crore on 37.3% growth in net sales to Rs 426.4- crore in Q3 December 2013 over Q3 December 2012.
- Eros International Media closed 2.99% up at Rs 161.80 on BSE after consolidated net profit jumped 41.08% to Rs 91.99 crore on 17.15% growth in total income from operations to Rs 432.6- crore in Q3 December 2013 over Q3 December 2012.
- Page Industries closed 1.13% down at Rs 5,570.00 on BSE after net profit surged 36.2% to Rs 34.63 crore on 39.9% growth in net sales to Rs 302.51 crore in Q3 December 2013 over Q3 December 2012.
- Sun Pharmaceutical Industries closed 0.60% up at Rs 614.70 on BSE after consolidated net profit surged 73.73% to Rs 1531.09 crore on 51.59% increase in total income to Rs 4446.82 crore in Q3 December 2013 over Q3 December 2012.
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