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Reports India

Indian stock market daily morning report (March 13, 2014, Thursday)

March 13, 2014, Thursday, 05:43 GMT | 02:43 EST | 11:13 IST | 13:43 SGT
Contributed by Keynote Capitals

Views on markets today

- Markets came off their day's highs to end flat amid a range bound trading session on Wednesday as investors turned cautious ahead of industrial production for January and consumer price inflation data for February to be released later today. Weakness in the global market also dampened sentiment.

The 30-share Sensex ended 30 points at 21,856 and the 50-share Nifty ended up 5 points at 6,517.

- Petron Engineering Construction closed 6.99% up at Rs 137.80 on BSE, with the stock extending its recent rally.

- SpiceJet closed 3.32% up at Rs 14.61 on BSE after the budget carrier placed an order with Boeing Co for 42 Boeing B737 Max planes worth $4.4 billion by swapping existing orders of 12 Boeing 737 planes.

- Among the 12 BSE Sectoral Indices 5 sectors closed in positive while 7 sectors ended the day in negative. Top Gainer: BSE Healthcare up by 1.23% and BSE FMCG by 1.22%. Top Losers: BSE Capital Goods and BSE Oil & Gas both down by 0.73%.

Market breadth was negative at ~0.87 as investors sold large cap stocks. On provisional basis, FII's bought Rs 8.64bn worth of Indian equities and DII's sold Rs 8.22bn worth of equities.

Economic and Corporate Developments

- The Indian government has envisaged an investment of $12.1 billion in the airports sector during the 12th Plan period, of which $9.3 billion is expected to come from the private sector for construction of new airports, expansion and modernisation of existing airports, and development of low-cost airports, according to Union civil aviation minister Ajit Singh.

"Rapidly expanding air transport network and opening up of the airport infrastructure to private sector participation have fuelled the growth of the air traffic in India," he said in his inaugural address at India Aviation 2014, an international exhibition and conference on civil aviation, in Hyderabad on Wednesday.

Buzzing Stocks

- Shares of L&T Finance Holdings and Just Dial gained by 4.13% and 4.14% respectively, in the morning trade, on BSE, ahead of their inclusion in futures and options (F&O) segment on the National Stock Exchange.

- DLF closed 0.42% up at Rs 179.15 on BSE after the company said that its wholly owned subsidiary has received its final tranche of payment of Rs 93.5 crore on the sale of balance shares of Galaxy Mercantile, a JV firm.

- Eicher Motors lost 0.95%, in the morning trade, to Rs 5,445 on BSE, as the stock turned ex-dividend for a dividend of Rs 30 per share for the year ended 31st December 2013.

- SKS Microfinance rose 3.66%, in the morning trade, to Rs 206.65 on BSE after the company said it has completed a securitization transaction worth Rs 80.30 crore during the current financial year.

- Vardhman Textiles closed 4.08% up at Rs 342.90 on BSE after a private equity fund hiked its stake in the company on Tuesday, 11th March 2014.

- Garden Silk Mills rose 1.74%, in the opening trade, to Rs 35 on BSE after the firm said its board will meet on 19th March 2014, inter alia, to consider and approve the proposal of conversion of share warrants into equity shares by promoters.

- Godrej Consumer Products closed 1.90% up at Rs 727.20 on BSE, with the stock gaining on bargain hunting after the recent decline.

- Autoline Industries closed 5.57% down at Rs 68.65 on BSE on equity dilution worries after the company said that its board of directors discussed various avenues of raising funds to meet the funding requirements of the company.

- Tech Mahindra closed 1.19% up at Rs 1802.25 on BSE after the company said it has launched its global development center with Alstom Transport, on the occasion of signing a 3 year partnership agreement with Alstom.

- Gateway Distriparks closed 2.08% up at Rs 149.50 on BSE after the company said it has acquired 74 lakh equity shares of Rs 10 each in its subsidiary company, Snowman Logistics from Nichirei Logistics Group Inc. for Rs 25.90 crore.

- Venky's (India) closed 1.76% up at Rs 471.10 on BSE after the company said its board has approved a proposal to acquire poultry and packaging business operations of Venkateshwara Hatcheries, its holding company, ongoing concern basis.

- Tilaknagar Industries closed 2.54% up at Rs 56.45 on BSE after the company said it has executed the agreement and acquired the complete IMFL business of the Kolkata-based IFB Agro Industries.