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Reports India

Indian stock market daily morning report (July 21, 2014, Monday)

July 21, 2014, Monday, 07:04 GMT | 02:04 EST | 10:34 IST | 13:04 SGT
Contributed by Keynote Capitals


Views on markets today

- Benchmark share indices rebounded in the week to July 1- after the Reserve Bank of India exempted the mandatory reserve requirements on funds raised through bonds for extending credit to housing and infrastructure sectors. Further, hopes of cut in key policy rates amid easing inflation also aided sentiment.

- For the week, the 30-share Sensex ended up 617 points or 2.5% at 25,642 and the 50-share Nifty ended up 204 points or 2.7% at 7,664.

- Shares of nine IT companies rose by 0.35% to 3.74%, in the intraday tarde, on BSE after sector major TCS reported good Q1 June 2014 earnings.

- TCS (up 3.74%), Wipro (up 2.78%), Hexaware Technologies (up 2.40%), hCl Technologies (up 2.18%), MphasiS (up 1.53%), Tech Mahindra (up 1.48%), CMC (up 1.02%), Infosys (up 0.44%) and Oracle Financial Services Software (up 0.35%), edged higher.

- Three PSU OMCs lost 1.31% to 2.43%, in the intraday trade, on BSE as crude oil futures jumped amid Europe's worst geopolitical crisis since the end of the cold war.

- HPCL (down 2.43% at Rs 398), BPCL (down 1.83% at Rs 580), and Indian Oil Corporation (down 1.31% at Rs 335.50) edged lower.

- Greenply Industries closed 7.58% up at Rs 806.55 on BSE after net profit surged 33.95% to Rs 30.22 crore on 7.55% growth in total income from operations to Rs 517.0- crore in Q1 June, 2014 over Q1 June, 2013.

- Among the 12 BSE Sectoral Indices 4 indices closed in positive while - indices ended the day in negative. Top Gainers: BSE IT up by 1.43% and BSE Teck by 0.91%. Top Losers: BSE Power down by 1.34% and BSE Realty by 0.88%.

- Market breadth was sharply negative at ~0.90 as investors sold large cap stocks. On provisional basis, FII's bought Rs19.12bn worth of Indian equities and DII's sold Rs 13.16bn worth of equities.


Economic and Corporate Developments

- Finance Minister Arun Jaitley has promised several steps aside from those in his Union Budget to aid economic revival and growth.

- Saying recent macroeconomic data suggested signs of revival, he assured investors of a stable tax regime, while highlighting the importance of targeting subsidies to identified sections.


Buzzing Stocks

- Kotak Mahindra Bank closed 2.22% up at Rs 935.10 on BSE, extending Thursday's 3.45% rise triggered by the company's board raising foreign institutional investment limit to 40%.

- TCS closed 2.58% up at Rs 2,442.65 on BSE after the company reported 3.9% growth in consolidated net profit to Rs 5,56- crore on 2.6% growth in revenue to Rs 22,111 crore in Q1 June, 2014 over Q4 March, 2014.

- Mindtree closed 0.76% up at Rs 887.45 on BSE after net profit surged 31.5% to Rs 129.40 crore on 2.4% growth in revenue to Rs 843.50 crore in Q1 June, 2014 over Q4 March, 2014.

- Wipro closed 1.83% up at Rs 547.70 on BSE after the company announced that it has entered into a strategic alliance with Alberta-based ATCO, one of Canada's premier corporations.

- Rolta India closed 3.39% up at Rs 109.90 on BSE after the company announced the successful pricing of 8.875% Senior Notes in the international markets, aggregating to $300 million by its wholly-owned subsidiary, Rolta Americas LLC.

- Bajaj Holdings & Investment closed 1.29% up at Rs 1,263.95 on BSE after consolidated net profit rose 17.83% to Rs 522 crore on 24.11% increase in total income to Rs 175 crore in Q1 June, 2014 over Q1 June, 2013.

- Rallis India rose 2.64%, in the morning trade, to Rs 223.30 on BSE after consolidated net profit surged 35% to Rs 37 crore on 14% growth in net sales to Rs 465 crore in Q1 June, 2014 over Q1 June, 2013.

- Seamec jumped 8.86%, in the noon trade, to Rs 116.70 on BSE after the company said it won a five year contract worth $15.26 million from ONGC.

- Arshiya was locked at 5% upper circuit at Rs 27.20 on BSE after the company said its board has allotted 4.50 crore shares on preferential allotment basis to promoters pursuant to CDR scheme.

- Sasken Communication Technologies closed 0.80% up at Rs 302.25 on BSE after consolidated net profit fell 52.3% to Rs 8.36 crore on 6.3% decline in revenue to Rs 108.19 crore in Q1 June, 2014 over Q1 June, 2013.

- Manappuram Finance and Muthoot Finance rose by 3.30% to 4.76%, in the intraday trade, on BSE after the central bank announced draft guidelines for setting up of payments banks and small banks. Muthoot Finance (up 4.76%) and Manappuram Finance (up 3.30%), edged higher.

- Zee Entertainment Enterprises closed 2.03% down at Rs 294.65 on BSE after consolidated net profit declined 6.26% to Rs 210.57 crore on 7.57% growth in total income to Rs 1.124.65 crore in Q1 June, 2014 over Q1 June, 2013.

- Pantaloons Fashion & Retail closed 2.75% up at Rs 127.20 on BSE ahead of the company's board meeting held on18th July, 2014, to consider rights issue of shares.

- Adani Enterprises closed 0.70% up at Rs 454.80 on BSE after the company said that Adani Mining Pty and POSCO E&C entered into a binding agreement to develop a rail line in Galilee Basin, Queensland.