Indian stock market daily morning report (January 21, 2014, Tuesday)
January 21, 2014, Tuesday, 05:31 GMT | 00:31 EST | 11:01 IST | 13:31 SGT
Views on markets today
- Markets ended higher on Monday, shrugging off weak global cues, with IT majors gaining the most after they reported better-than-expected third quarter earnings.
The 30-share Sensex ended up 141 points at 21,205 and the 50-share Nifty gained 42 points to close at 6,304.
- UltraTech Cement closed 0.27% up at Rs 1,720.80 on BSE after net profit fell 38.44% to Rs 370 crore on 1.46% decline in net sales to Rs 4,786 crore in Q3 December 2013 over Q3 December 2012.
- Reliance Industries closed 1.70% down at Rs 869.50 on BSE after net profit rose 0.2% to Rs 5,511 crore on 10.5% growth in revenue to Rs 1,06,383 crore in Q3 December 2013 over Q3 December 2012.
- Wipro closed 3.77% up at Rs 573.30 on BSE after consolidated net profit rose 4.28% to Rs 2,014.70 crore on 3.06% increase in total income from operations (net) to Rs 11,327.40 crore in Q3 December 2013 over Q2 September 2013.
- Among the 12 BSE Sectoral Indices 11 sectors closed in positive while 1 sector ended the day in negative. Top Gainers: BSE IT up by 2.83% and BSE Teck by 2.50%. Top Losers: BSE Oil & Gas down by 0.96%.
Market breadth was positive at ~1.13 as investors bought large cap stocks. On provisional basis, FII's bought Rs 3.85bn worth of Indian equities and DII's sold Rs 3.10bn worth of equities.
Economic and Corporate Developments
- Foreign institutional investors (FIIs) have accumulated equity shares of mid and small-sized companies as their holdings in select stocks by as much as eight percentage points during the October-December quarter, the latest shareholding pattern data shows.
Of the 453 mid-and-small cap firms that have so far declared their December quarter shareholding pattern reveal that FIIs have increased their stake in nearly 42% or 190 companies and in 101 companies, their holdings remain unchanged. While, in the remaining 162 firms they have reduced their stake during the recently concluded quarter.
- Aurobindo Pharma closed 6.31% up at Rs 409.25 on BSE after the company announced the signing of a binding offer to acquire commercial operations in seven Western European countries from Actavis plc.
- NTPC closed 0.19% up at Rs 131.85 on BSE after the company said its board has accorded the investment approval for Darlipali Super Thermal Power Project in Odisha.
- PTC India closed 4.60% up at Rs 60.20 on BSE after net profit jumped 314.9% to Rs 90.7- crore on 47.5% growth in total income to Rs 2,771.05 crore in Q3 December 2013 over Q3 December 2012.
- Biocon closed 2.92% up at Rs 454.40 on BSE after the company said it will start selling a breast cancer drug, developed jointly with US-based Mylan, in the country from next month.
- Force Motors closed 6.35% down at Rs 339.90 on BSE, after the company reported net loss of Rs 8.36 crore in Q3 December 2013 as compared to net profit of Rs 8.12 crore in Q3 December 2012.
- Subex hit an upper circuit limit of 5% at Rs 9.26 on BSE after the company announced that it has won five new customer deals, worth $10 million, across key emerging markets.
- Reliance MediaWorks closed 19.07% up at Rs 55.25 on BSE, after the company's board of directors approved proposed delisting offer.
- South Indian Bank closed 3.95% up at Rs 21.05 on BSE after the central bank allowed foreign investors to buy shares in South Indian Bank as the foreign shareholding in the bank has gone below the prescribed limit.
- Nucleus Software Exports closed 19.97% up at Rs 162.50 on BSE after consolidated net profit jumped 113.71% to Rs 23.2- crore on 9.37% growth in total income from operations (net) to Rs 89.96 crore in Q3 December 2013 over Q2 September 2013.
- Dewan Housing Finance Corporation closed 3.65% up at Rs 214.20 on BSE after net profit rose 51.69% to Rs 138.39 crore on 54.78% increase in total income to Rs 1,301.36 crore in Q3 December 2013 over Q3 December 2012.
- Tata Sponge Iron closed 4.14% up at Rs 309.50 on BSE after net profit rose 18.1% to Rs 24.31 crore on 0.1% decline in total income to Rs 207.15 crore in Q3 December 2013 over Q3 December 2012.