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Reports India

Indian stock market daily morning report (May 05, 2014, Monday)

May 5, 2014, Monday, 05:16 GMT | 00:16 EST | 08:46 IST | 11:16 SGT
Contributed by Keynote Capitals


Views on markets today

- Market concluded Friday's range bound trades by registering marginal losses as sentiment turned sombre after data released today showed that manufacturing activity remained stagnant in April in world's third biggest economy.

Investors also remained cautious over escalating tensions in Ukraine and looming US April jobs data slated to be released later.

The 30-share Bombay Stock Exchange (BSE) Sensex closed 14 points lower at 22404 levels while 50-unit Nifty index of the National Stock Exchange (NSE) shed 2 points to close at 6,694 levels.

- IDBI Bank closed 1.32% up at Rs 69.10 on BSE as the bank's gross non-performing assets declined to Rs 9960.16 crore as on 31 March 2014, from Rs 10012.44 crore as on 31 December 2013.

- JSW Energy closed 3.45% down at Rs 51.70 on BSE after consolidated net profit fell 47.91% to Rs 175 crore on 10.56% decline in total income from operations to Rs 205- crore in Q4 March 2014 over Q4 March 2013.

- Hero MotoCorp closed 0.14% up at Rs 2,197 on BSE after total sales rose 14.4% to 571,054 units in April 2014 over April 2013.

- Among the 12 BSE Sectoral indices 6 indices closed in positive while 6 index ended the day in negative. Top Gainers: BSE IT up by 1.09% and BSE Healthcare by 0.93%. Top Losers: BSE Capital Goods down by 1.7-% and BSE Metal by 1.41%.

Market breadth was positive at ~1.09 as investors bought large cap stocks. On provisional basis, FII's bought Rs.3.-7bn worth of Indian equities and DII's sold Rs.4.06bn worth of equities.

 

Economic and Corporate Developments

Growth in manufacturing activities remained stagnant in the first month of the current financial year, as per the widely tracked HSBC purchasing managers' index (PMI).

PMI stood intact at 51.3 points in April, same as March. A reading above 50 denotes expansion and the one below implies contraction.

Both manufacturing output and new order growth eased further in the month, even as factories across the country continued to report improving operating conditions, said Markit Economics, a financial information firm which compiles the data.


Buzzing Stocks

- HeidelbergCement India closed 12.73% up at Rs 46.95 on BSE after net profit surged 2075% to Rs 47.-5 crore on -.96% rise in net sales to Rs 402.99 crore in Q1 March 2014 over Q1 March 2013.

- KEC International closed 1.79% up at Rs 76.95 on BSE after the company reported a consolidated net profit of Rs 34 crore in Q4 March 2014 as against net loss of Rs 14 crore in Q4 March 2013.

- Hindustan Construction Company closed 7.09% up at Rs 20.40 on BSE after the company reported a net profit of Rs 24.40    crore in Q4 March 2014 as against net loss of Rs 50.30 crore in Q4 March 2013.

- Carborundum Universal closed 2.63% up at Rs 142.45 on BSE after consolidated net profit jumped 107.7% to Rs 24.94 crore on 9.7% rise in net sales to Rs 525.05 crore in Q4 March 2014 over Q4 March 2013.

- Shriram City Union Finance closed 4.23% up at Rs 1233.10 on BSE after consolidated net profit rose 20.49% to Rs 151.36 crore on 0.-5% decline in total income to Rs -33.94 crore in Q4 March 2014 over Q4 March 2013.

- Fulford (India) was locked at 10% upper circuit at Rs 1,194.95 on BSE, with the stock extending recent steep rally triggered by the company's promoter offering a substantial premium to delist shares of Indian unit.

- Swaraj Engines closed 1.63% up at Rs 733.25 on BSE, with the stock extending Wednesday's 6.06% rally triggered by the company reporting strong Q4 March 2014 earnings.

- Bata India closed 4.62% down at Rs 1,01-.-0 on BSE after net profit rose 2.44% to Rs 39.40 crore on 9.15% rise in total income from operations (net) to Rs 495.43 crore in Q1 March 2014 over Q1 March 2013.

- Merck closed 2.77% down at Rs 655 on BSE after net profit declined 74.5-% to Rs 3.55 crore on 6.41% growth in total income from operations to Rs 193.71 crore in Q1 March 2014 over Q1 March 2012.

- NOCIL closed 4.-1% down at Rs 17.-0 on BSE after net profit declined 55.5% to Rs 10.0- crore on 46.5% growth in net sales to Rs 172.34 crore in Q4 March 2014 over Q4 March 2013.

Bajaj Auto closed 0.46% down at Rs 1,904.65 on BSE after the company declared sales volume data for April 2014 during market hours today, 2 May 2014.

Aarti Drugs closed 15.--% up at Rs 412.35 on BSE after net profit jumped 5-.94% to Rs 21.95 crore on 2-.45% growth in total income from operations to Rs 2-3.04 crore in Q4 March 2014 over Q4 March 2013.

Mahindra & Mahindra closed 1.46% down at Rs 1,056.55 on BSE after the company reported weak sales in April 2014 over April 2013.

PTC India Financial Services closed 10.36% up at Rs 1-.-5 on BSE after net profit surged 91% to Rs 46.36 crore on 94% growth in total revenue to Rs 149.44 crore in Q4 March 2014 over Q4 March 2013.

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