New York: 09:32 || London: 14:32 || Mumbai: 18:02 || Singapore: 20:32

Reports India

Indian stock market daily morning report (July 30, 2014, Wednesday)

July 30, 2014, Wednesday, 06:12 GMT | 01:12 EST | 09:42 IST | 12:12 SGT
Contributed by Keynote Capitals


Views on markets today

- Markets, on Monday, extended losses amid profit taking as lack of buying interest by institutional investors dragged the BSE benchmark index below 26,000. Weakness in RIL, ICICI Bank, Tata Motors and ONGC weighed on the indices heavily.

For the day, the Sensex was down 136 points at 25,991 and the Nifty gave off 42 points to trade at 7,749.

The broader markets underperformed as both the mid and smallcap indices were down 0.4-0.7%.

The markets were closed for trading on Tuesday, July 29, on account of Ramzan ID.

- Reliance Power rose 2.09% and Jaiprakash Power Ventures gained 3.43% on BSE after Reliance Power signed memorandum of understanding to acquire entire hydro power portfolio of Jaiprakash Power Ventures.

Reliance Power (RPower) and Jaiprakash Power Ventures (JPVL) made the announcement on Sunday, 27th July, 2014.

- Hindustan Unilever closed 3.69% up at Rs 686.45 on BSE, after net profit rose 3.68% to Rs 1,056.85 crore on 13.35% growth in total income to Rs 7,918.45 crore in Q1 June, 2014 over Q1 June, 2013.

- Dabur India closed 0.65% down at Rs 198.05 on BSE after consolidated net profit rose 13.33% to Rs 210.81 crore on 13.01% increase in total income to Rs 1,904.80 crore in Q1 June, 2014 over Q1 June, 2013.

Among the 12 BSE Sectoral Indices 5 indices closed in positive while 7 indices ended the day in negative. Top Gainers: BSE Consumer Durables up by 0.57% and BSE FMCG by 0.38%. Top Losers: BSE Realty down by 2.69% and BSE Metal by 1.51%.

Market breadth was negative at ~0.67 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

India has made insignificant improvement on the Human Development Index (HDI) between 2012 and 2013, the Human Development Report 2014, released on here reveals. Stuck on the 135th rank like last year, the HDI value of the country rose marginally from 0.583 to 0.586 on the index.

The Human Development Report, an assessment carried out by the United Nations Development Programme (UNDP), ranks countries on the basis of key social indicators to review how nations have fared on developmental and social goals. It ranks countries on an index reflecting long-term progress on human development — long and healthy life, access to education and standard of living.


Buzzing Stocks

- Ashok Leyland closed 1.65% down at Rs 32.75 on BSE after the company reported a net loss of Rs 47.95 crore in Q1 June, 2014, lower than net loss of Rs 141.75 crore in Q1 June, 2013.

- Eveready Industries India closed 1.23% up at Rs 86.30 on BSE after net profit jumped 157.3% to Rs 10.60 crore on 15.7% growth in net sales to Rs 323.49 crore in Q1 June, 2014 over Q1 June, 2013.

- Raymond closed 2.85% down at Rs 407.80 on BSE after the company reported a consolidated net loss of Rs 32.85 crore in Q1 June, 2014, lower than net loss of Rs 49.6- crore in Q1 June, 2013.

- Indiabulls Real Estate closed 2.33% down at Rs 75.35 on BSE after consolidated net profit fell 46.5% to Rs 38.85 crore on 18.8% rise in total income to Rs 623.4- crore in Q1 June, 2014 over Q1 June, 2013.

- Force Motors closed 1.34% up at Rs 539.10 on BSE after net profit rose 35.95% to Rs 19.40 crore on 8.31% rise in net sales to Rs 538.42 crore in Q1 June, 2014 over Q1 June, 2013.

- Thomas Cook (India) closed 1.53% up at Rs 116.15 on BSE after consolidated net profit rose 43.4% to Rs 46.60 crore on 82.7% rise in net sales to Rs 549.12 crore in Q2 June, 2014 over Q2 June, 2013.

- JK Lakshmi Cement closed 11.47% up at Rs 245.85 on BSE after net profit surged 157.7% to Rs 40.46 crore on 31.1% rise in total income to Rs 602.92 crore in Q1 June, 2014 over Q1 June, 2013.

- Bank of Baroda closed 0.53% up at Rs 866.10 on BSE after net profit rose 16.61% to Rs 1361.8- crore on 9% increase in total income to Rs 11,682.50 crore in Q1 June, 2014 over Q1 June, 2013.

- Havells India closed 1.99% down at Rs 1206.15 on BSE after net profit rose 13.32% to Rs 107.27 crore on 22.18% increase in total income to Rs 1,288.41 crore in Q1 June, 2014 over Q1 June, 2013.

- GAIL (India) closed 0.76% down at Rs 424.65 on BSE, with the stock reversing initial gain triggered by the company announcing signing of a Memorandum of Understanding with Sumitomo Corporation, Japan.

- IDBI Bank and United Bank of India rose by 0.83% to 5.20 on BSE on reports the government has asked United Bank of India and IDBI Bank to prepare a merger plan. United Bank of India (UBI) (up 5.20%) and IDBI Bank (up 0.83%), edged higher.

- Wockhardt closed 7.80% down at Rs 691.70 on BSE on profit booking after the stock jumped 27.90% to Rs 750.25 on Friday, 25 July, 2014, from a recent low of Rs 586.60 on 1- July, 2014.

- Sintex Industries closed 1.74% up at Rs 87.95 on BSE, after the company's wholly owned subsidiary announced acquisition of SIMONIN group.

- Mastek closed 3.37% up at Rs 194.90 on BSE after the company said its UK-based subsidiary signed a major contract with British Telecom.

Stock Market Forum