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Reports India

Indian stock market daily morning report (July 28, 2014, Monday)

July 28, 2014, Monday, 09:48 GMT | 04:48 EST | 13:18 IST | 15:48 SGT
Contributed by Keynote Capitals


Views on markets today

- Benchmark share indices ended their eight-day winning streak on profit taking after they hit fresh all-time highs in the previous session even as selective buying was seen in defensive pharma and FMCG shares.

The 30-share Sensex ended down 145 points at 26,127 and the 50-share Nifty closed 40 points lower at 7,790.

- Four organised retailers fell by 1.24% to 4.97% on BSE on reports the government has not decided its stance to allow foreign direct investment in the retail sector.

Future Retail (down 4.97%), Store One Retail India (down 4.87%), Shopper's Stop (down 1.44%) and Trent (down 1.24%), edged lower.

- Colgate-Palmolive (India) closed 2.20% down at Rs 1,624.20 on BSE after net profit excluding exceptional item rose 4% to Rs 134.90 crore on 13% growth in net sales to Rs 950.60 crore in Q1 June, 2014 over Q1 June, 2013.

- Steel Authority of India closed 3.16% down at Rs 87.40 on BSE after Finance Minister Arun Jaitley reportedly said today, 25 July 2014, that the government plans to sell 5% stake in the steel major in the current fiscal year.

- HT Media closed 5.56% down at Rs 113.70 on BSE after consolidated net profit declined 31% to Rs 32.70 crore on 3% growth in total revenue to Rs 585.90 crore in Q1 June, 2014 over Q1 June, 2013.

- MindTree closed 4.21% up at Rs 1,020.00 on BSE after the company said it has been selected by ING Vysya as a strategic digital partner for its next generation mobility programme.

- Among the 12 BSE Sectoral Indices 2 indices closed in positive while 10 indices ended the day in negative. Top Gainers: BSE Healthcare up by 1.89% and BSE FMCG by 0.73% Top Losers: BSE Realty down by 2.68% and BSE Metal by 2.33%.

Market breadth was negative at ~0.50 as investors sold large cap stocks. On provisional basis, FII's bought Rs 1.25bn worth of Indian equities and DII's sold Rs 2.10bn worth of equities.


Economic and Corporate Developments

- Government does not have any current proposal to cut the record 10% import duty on gold, Minister of State for Finance Nirmala Sitharaman said on Friday.

She added that the govt has not yet decided its policy stance on foreign direct investment in supermarkets.

In a bid to trim the current account deficit, govt had taken a slew of measures to curb demand for bullion, its second-biggest import after oil.


Buzzing Stocks

- Ambuja Cements closed 3.34% down at Rs 211.00 on BSE after net profit surged 26.2% to Rs 409 crore on 15.4% growth in net sales to Rs 2,706 crore in Q2 June, 2014 over Q2 June, 2013.

- Wipro closed 4.66% down at Rs 549.90 on BSE after consolidated net profit as per International Financial Reporting Standards jumped 30% to Rs 2,100 crore on 14% growth in total revenue to Rs 11,140 crore in Q1 June, 2014 over Q1 June, 2013.

- Glenmark Pharmaceuticals closed 6.83% up at Rs 637.00 on BSE after consolidated net profit jumped 43.65% to Rs 184.84 crore on 20.08% growth in revenue to Rs 1,486.94 crore in Q1 June, 2014 over Q1 June, 2013.

- Bharti Infratel closed 1.21% down at Rs 257.70 on BSE after consolidated net profit surged 29% to Rs 463 crore on 8% growth in revenue to Rs 2,843 crore in Q1 June, 2014 over Q1 June, 2013.

- Biocon closed 7.07% down at Rs 480.30 on BSE after consolidated basis net profit rose 10.06% to Rs 102.91 crore on 2.60% increase in total income to Rs 741.95 crore in Q1 June, 2014 over Q1 June, 2013.

- PI Industries spurted 6.12% to Rs 403.40 on BSE after net profit surged 48% to Rs 71.74 crore on 16% growth in revenue to Rs 471.20 crore in Q1 June, 2014 over Q1 June, 2013.

- Ranbaxy Laboratories closed 4.40% up at Rs 586.00 on BSE after the company said it entered into a licencing agreement with Canada's Cipher Pharmaceuticals Inc to exclusively market the latter's isotretinoin capsules in Brazil.

- Mahindra & Mahindra Financial Services closed 4.76% down at Rs 238.00 on BSE after consolidated net profit declined 16% to Rs 170 crore on 18% growth in total income to Rs 1384 crore in Q1 June, 2014 over Q1 June, 2013.

- Bayer CropScience jumped 13%, in the near noon trade, to Rs 2,038.25 on BSE after net profit rose 23.6% to Rs 108.50 crore on 21.3% increase in net sales to Rs 1,172.40 crore in Q1 June, 2014 over Q1 June, 2013.

- Indiabulls Housing Finance closed 6.81% up at Rs 392.00 on BSE after consolidated net profit rose 20.6% at Rs 423.80 crore on 19.3% growth in total revenue to Rs 1,602.80 crore in Q1 June, 2014 over Q1 June, 2013.

- Century Enka closed 11.66% down at Rs 173.45 on BSE after net profit fell 43.1% to Rs 8.66 crore on 25.1% decline in net sales to Rs 303.43 crore in Q1 June, 2014 over Q1 June, 2013.

- LIC Housing Finance closed 5.42% down at Rs 294.70 on BSE after net profit rose 3.8% to Rs 322.30 crore on 16.76% growth in total income from operations to Rs 2,509.12 crore in Q1 June, 2014 over Q1 June, 2013.

- Indian Bank fell 6.31%, in the intraday trade, to Rs 150.70 on BSE after net profit fell 34.73% to Rs 207.15 crore on 1.23% decline in total income to Rs 4,144.01 crore in Q1 June, 2014 over Q1 June, 2013.