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Reports India

Indian stock market daily morning report (January 30, 2014, Thursday)

January 30, 2014, Thursday, 04:55 GMT | 00:55 EST | 10:25 IST | 12:55 SGT
Contributed by Keynote Capitals


Views on markets today
 
- Markets closed flat with a slight negative bias after a volatile session that saw key benchmark indices move in a narrow range.
 
The 30-share Sensex closed 36 points lower at 20,647 levels and the 50-unit Nifty closed almost flat at 6,120 levels. BSE mid-cap ended 0.1% higher and small-cap indices was down 0.2%.
 
- ICICI Bank closed 1.69% down at Rs 1001.95 on BSE after net profit rose 12.53% to Rs 2,532.21 crore on 15.4% growth in total income to Rs 14,255.96 crore in Q3 December 2013 over Q3 December 2012.
 
- Bharti Airtel rose 2.46%, in the morning trade, to Rs 313.85 on BSE after consolidated net profit surged 115.1% to Rs 610 crore on 13.3% growth in total revenue to Rs 21,939 crore in Q3 December 2013 over Q3 December 2012.
 
- Havells India closed 3.43% up at Rs 770.55 on BSE after net profit rose 28.32% to Rs 121.47 crore on 12.76% increase in total income to Rs 1,195.10 crore in Q3 December 2013 over Q3 December 2012.
 
- Among the 12 BSE Sectoral Indices 5 Sectors closed in positive while 7 Sectors ended the day in negative. Top Gainers: BSE Capital Goods up by 0.96% and BsE Healthcare by 0.76%. Top Losers: BSE Metal down by 1.35%, BSE Consumer Durables by 0.76%.
 
Market breadth was negative at ~0.90 as investors sold large cap stocks. On provisional basis, FII's bought Rs 2.50bn worth of Indian equities and DII's sold Rs 0.17bn worth of equities.
 
 
Economic and Corporate Developments
 
- In a major boost for overseas entities, the government has said that Foreign Portfolio Investors would attract uniform tax rate across categories.
 
FPIs bring together all the three investment categories -- FIIs, their sub-accounts and QFIs.
 
Besides, the tax rate for FPIs would be the same as that extended to Foreign Institutional Investors. The new system would be especially beneficial for Qualified Foreign Investors who were subjected to higher tax rate earlier.
 
The Central Board of Direct Taxes has notified that new class of investors, FPIs, would be treated as FIIs under the Income-tax Act, 1961.
 
 
Buzzing Stocks
 
- Reliance Power closed 0.83% down at Rs 63.25 on BSE after the company said that commercial operation has commenced at the second 660 MW unit of the 3,960 MW Sasan ultra mega power plant.
 
- NTPC closed 0.66% down at Rs 127.85 on BSE after net profit rose 10.2% to Rs 2,861.2- crore on 19% increase in net sales to Rs 18,779.39 crore in Q3 December 2013 over Q3 December 2012.
 
- Maruti Suzuki India closed 7.11% up at Rs 1,674.35 on BSE, recovering from Tuesday's steep slide triggered by the company's decision to route the expansion project in Gujarat through a 100% subsidiary of Suzuki Motor Corporation, Japan.
 
- GIC Housing Finance closed 2.79% down at Rs 101.05 on BSE after net profit rose 1.9% to Rs 23.64 crore on 13.6% growth in total income to Rs 158.49 crore in Q3 December 2013 over Q3 December 2012.
 
- Sesa Sterlite closed 3.03% down at Rs 193.80 on BSE after consolidated net profit surged 276.12% to Rs 1,868.29 crore on 7802.57% spurt in total income to Rs 19,912.90 crore in Q3 December 2013 over Q3 December 2012.
 
- OnMobile Global closed 12.27% down at Rs 28.60 on BSE after the company reported consolidated net loss of Rs 8.37 crore in Q3 December 2013 as against net profit of Rs 20.64 crore in Q3 December 2012.
 
- PTC India Financial Services closed 4.95% up at Rs 14.00 on BSE after net profit surged 278.7% to Rs 106.90 crore on 184.3% spurt in operating income to Rs 194.80 crore in Q3 December 2013 over Q3 December 2012.
 
- Transport Corporation of India closed 1.75% down at Rs 92.55 on BSE after net profit rose 26.9% to Rs 14.39 crore on 4.6% growth in net sales to Rs 514.8- crore in Q3 December 2013 over Q3 December 2012.
 
- HPCL closed 5.61% up at Rs 240.20 on BSE after the firm said that its wholly owned subsidiary has entered into a sale purchase pact with AWE, Australia to acquire stake in 2 Australian gas fields for total consideration of AUD 85 million
 
- McNally Bharat Engineering Company jumped 5.65%, in the afternoon trade, to Rs 56.10 on BSE after the company said its Singapore-based subsidiary has sold its entire stake of 41.66% in Hayward Tyler Group Plc UK for 12.3 million pounds.
 
- Shriram Transport Finance Company closed 1.52% up at Rs 618.00 on BSE after consolidated net profit declined 13.44% to Rs 324.85 crore on 22.06% growth in total income to Rs 2,197 crore in Q3 December 2013 over Q3 December 2012.
 
- GAIL (India) closed 0.35% up at Rs 346.30 on BSE after net profit surged 30.7% to Rs 1,679.40 crore on 27.79% growth in total income to Rs 16,246.71 crore in Q3 December 2013 over Q3 December 2012.
 
- Hero MotoCorp closed 2.85% up at Rs 2,070.85 on BSE after the company showcased five new two-wheeler models.

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