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Reports India

Indian stock market daily morning report (January 28, 2014, Tuesday)

January 28, 2014, Tuesday, 05:12 GMT | 00:12 EST | 09:42 IST | 12:12 SGT
Contributed by Keynote Capitals


Views on markets today
 
- Benchmark share indices recorded their highest percentage fall since September 3, 2013, amid a sell-off in emerging markets, with rate sensitive shares leading the decline ahead of the third quarter monetary policy review on 28th January, 2014.
 
The 30-share Sensex ended down 426 points or 2% at 20,707 and the 50-share Nifty closed 131 points or 2.1% lower at 6,136.
 
- SKS Microfinance rose 2.94%, in the early trade, to Rs 192.70 on BSE after net profit galloped 1,763.5% to Rs 21.40 crore on 54.8% growth in total income to Rs 139.66 crore in Q3 December 2013 over Q3 December 2012.
 
- Hindustan Unilever closed 1.71% up at Rs 575.55 on BSE after net profit rose 21.91% to Rs 1,062.31 crore on 8.51% increase in total income to Rs 7,366.01 crore in Q3 December 2013 over Q3 December 2012.
 
- Ranbaxy Laboratories closed 7.80% down at Rs 310.25 on BSE, extending Friday's 19.33% fall triggered by the US drug regulator banning the company's Toansa facility in India from importing drugs to the US market.
 
- Adani Power closed 3.79% down at Rs 33.00 on BSE after the company reported a consolidated net loss of Rs 545 crore in Q3 December 2013, lower than net loss of Rs 619.01 crore in Q3 December 2012.
 
- All the 12 BSE Sectoral Indices ended the day in negative. Top Losers: BSE Realty down by 6.82%, BSE Bankex by 3.97% and BSE Metal by 3.81%.
 
Market breadth was sharply negative at ~0.31 as investors sold large cap stocks. On provisional basis, FII's sold Rs 13.34bn worth of Indian equities and DII's bought Rs 1.51bn worth of equities.
 
 
Economic and Corporate Developments
 
- India's imports of gems and jewellery fell over 11% to Rs 15,735 crore in December after a sharp drop in shipments of gold bars and jewellery due to government curbs, the industry body said.
 
The country had imported gems and jewellery worth Rs 17,692 crore in the same month in 2012, it said.
 
"There has been a significant decline in import of gold bars and jewellery because of restrictions. However, import of diamonds is on the rise," Gems and Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah said here.
 
 
Buzzing Stocks
 
- Glenmark Pharmaceuticals closed 5.08% up at Rs 534.90 on BSE after consolidated net profit rose 1.55% to Rs 216.23 crore on 15.92% growth in revenue to Rs 1,601.22 crore in Q3 December 2013 over Q3 December 2012.
 
- Tata Motors closed 6.13% down at Rs 347.80 on BSE after the company said its managing director, Karl Slym, died in Bangkok on Sunday, 26 January 2014.
 
- Torrent Power closed 7.06% down at Rs 99.40 on BSE after the company reported consolidated net loss of Rs 35.51 crore in Q3 December 2013 as against net profit of Rs 95.66 crore in Q3 December 2012.
 
- Fiem Industries closed 3.17% up at Rs 367.40 on BSE after the company said it has signed an MoU with two Japanese companies for a joint venture proposal in India for manufacturing of key sets, door mirrors and outside handles.
 
- Tata Power and Reliance Infrastructure closed down by 4.16% to 5.13%, respectively, on BSE as Maharashtra Chief Minister Prithviraj Chavan will announce in two days, a decision on cutting power tariffs in Mumbai.
 
- Sabero Organics Gujarat closed 2.20% up at Rs 125.60 on BSE after the company said that the board of directors of the company and Coromandel International have approved the merger of the company with Coromandel International.
 
- Omax Autos closed 4.93% down at Rs 35.70 on BSE after the company reported a net loss of Rs 3.76 crore in Q3 December 2013 as against net profit of Rs 3.30 crore in Q3 December 2012.
 
- GMR Infrastructure closed 10.65% down at Rs 20.55 on BSE on equity dilution worries after the company's board approved raising upto Rs 2,500 crore through various options.
 
- Shree Cement fell 3.82%, in the afternoon trade, to Rs 4,230 on BSE after net profit fell 46.89% to Rs 115.49 crore on 7.22% decline in total income to Rs 1,328.03 crore in Q2 December 2013 over Q2 December 2012.
 
- Adani Ports and Special Economic Zone closed 0.55% down at Rs 143.95 on BSE after consolidated net profit rose 25% to Rs 451 crore on 16% growth in total income to Rs 1,244 crore in Q3 December 2013 over Q3 December 2012.
 
- Symphony closed 10.59% up at Rs 456.45 on BSE after net profit rose 48.18% to Rs 24.79 crore on 29.46% increase in total income from operations to Rs 119.26 crore in Q2 December 2013 over Q2 December 2012.
 
- Kewal Kiran Clothing closed 3.32% down at Rs 1,110.80 on BSE after net profit declined 11.5% to Rs 10.62 crore on 12.4% growth in net sales to Rs 86.2- crore in Q3 December 2013 over Q3 December 2012.
 
- Tata Elxsi closed 4.28% up at Rs 379.05 on BSE after net profit surged 146.57% to Rs 21.55 crore on 27.73% increase in net sales to Rs 200.12 crore in Q3 December 2013 over Q3 December 2012.

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