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Reports India

Indian stock market daily morning report (January 31, 2014, Friday)

January 31, 2014, Friday, 09:40 GMT | 04:40 EST | 14:10 IST | 16:40 SGT
Contributed by Keynote Capitals


Views on markets today
 
- Benchmark share indices ended at their lowest level in two months after further tapering by the US Fed led to a sell-off in emerging markets on concerns that foreign fund inflows would slowdown going forward. Further, expiry of January derivative contracts also weighed on the stock market.
 
The 30-share Sensex ended down 149 points at 20,49- and the 50-share Nifty ended down 46 points at 6,074. The Sensex had ended at 20,535 and the Nifty at 6,092 on November 28, 2013.
 
- Titan Company closed 3.68% up at Rs 222.45 on BSE after net profit declined 18.8% to Rs 165.57 crore on 11.12% decline in total income to Rs 2,701.84 crore in Q3 December 2013 over Q3 December 2012.
 
- TVS Motor Company closed 4.16% to Rs 73.10 on BSE, with the stock extending Wednesday's 4.57% gains triggered by the company reporting strong Q3 earnings.
 
- Bank of India closed 10.47% down at Rs 186.35 on BSE after net profit declined 27.08% to Rs 585.82 crore on 21.27% growth in total income to Rs 10,866.29 crore in Q3 December 2013 over Q3 December 2012.
 
- Among the 12 BSE Sectoral Indices 2 Sectors closed in positive while 10 Sectors ended the day in negative. Top Gainers: BSE Consumer Durables up by 1.73% and BSE Auto by 0.27%. Top Losers: BSE Bankex down by 2.67%, BSE Realty by 2.60%.
 
Market breadth was negative at ~0.47 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
 
- The US' relationship with India is "too important" to be held up on the issue of Narendra Modi becoming India's next Prime Minister and American businesses have "accepted" that they will have to do business with him, a former US Ambassador has said.
 
"Narenda Modi is an able man; we'll have to see how he conducts himself if he rises to the top," Frank Wisner, who had also served as Under Secretary of State for International Security Affairs, said in a teleconference organised by the Asia Society Policy Institute on US-India relationship.
 
"But doing business with him will be an imperative, assuming of course his party is able to form India's next government," he said.
 
 
Buzzing Stocks
 
- National Aluminium Company closed 3.56% down at Rs 35.20 on BSE after net profit rose 10.16% to Rs 131.03 crore on 2.26% decline in total income to Rs 1,764.64 crore in Q3 December 2013 over Q3 December 2012.
 
- Crompton Greaves closed 7.91% up at Rs 110.45 on BSE after the company reported consolidated net profit of Rs 62.02 crore in Q3 December 2013 as compared to net loss of Rs 189.36 crore in Q3 December 2012.
 
- Balaji Amines closed 19.79% down at Rs 38.90 on BSE after net profit declined 41.6% to Rs 4.20 crore on 27.6% growth in net sales to Rs 137.51 crore in Q3 December 2013 over Q3 December 2012.
 
- Tata Motors closed 2.66% up at to Rs 361.20 on BSE after a media report suggested that the company is close to winning a Rs 1,000 crore defence contract.
 
- Usha Martin closed 4.69% down at Rs 29.45 on BSE after consolidated net profit declined 49.3% to Rs 15.43 crore on 8.6% growth in net sales to Rs 965.3- crore in Q3 December 2013 over Q3 December 2012.
 
- VIP Industries closed 0.85% up at Rs 59.20 on BSE after net profit jumped 188.6% to Rs 10.10 crore on 15.3% growth in net sales to Rs 235.10 crore in Q3 December 2013 over Q3 December 2012.
 
- Zensar Technologies rose 1.02%, in the morning trade, to Rs 364.70 on BSE after the company said it has recorded significant order wins amounting to over Rs 180 crore at the start of calendar year 2014.
 
- Mahindra Holidays & Resorts India closed 3.97% down at Rs 231.00 on BSE after net profit declined 32.5% to Rs 20.31 crore on 5.5% growth in net sales to Rs 181.95 crore in Q3 December 2013 over Q3 December 2012.
 
- Tata Global Beverages closed 1.02% down at Rs 140.65 on BSE after consolidated net profit rose 49% to Rs 120 crore on 9% increase in income from operations to Rs 2,081 crore in Q3 December 2013 over Q3 December 2012.
 
- Gujarat State Fertilizers & Chemicals closed 2.37% down at Rs 47.45 on BSE after net profit fell 25.9% to Rs 101.20 crore on 15.7% decline in net sales to Rs 1,458.40 crore in Q3 December 2013 over Q3 December 2012.
 
- Hindustan Construction Company closed 0.38% down at Rs 13.05 on BSE after the company reported a net profit of Rs 5.40 crore in Q3 December 2013 compared with a net loss of Rs 38.50 crore in Q3 December 2012.
 
- JSW Energy closed 1.02% down at Rs 43.80 after consolidated net profit fell 34.72% to Rs 203 crore on 9.04% decline in total income from operations to Rs 2,151 crore in Q3 December 2013 over Q3 December 2012.
 
- Indiabulls Real Estate closed 5.15% down at Rs 53.45 on BSE after consolidated net profit fell 45.73% to Rs 28.36 crore on 31.66% increase in total income to Rs 462.56 crore in Q3 December 2013 over Q3 December 2012.