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Reports India

Indian stock market daily morning report (May 08, 2014, Thursday)

May 8, 2014, Thursday, 05:29 GMT | 00:29 EST | 08:59 IST | 11:29 SGT
Contributed by Keynote Capitals


Views on markets today

- Markets slipped on Wednesday, tracking weak global cues amid uncertainty ahead of election results on May 16. Investors worldwide remained wary of US Federal Reserve Chair Janet Yellen's congressional testimony later on 7th May, 2014.

Ukraine fears also weighed on sentiment, with Russia rejecting a peace proposal amidst civil war-like situation in the former Soviet union republic.

The 30-share Sensex slipped 184 points or 0.8% to close at 22,324 levels while 50-unit Nifty index shed 63 points at 6,663 levels.

- Titan Company rose 1.09%, in the opening trade, to Rs 274 on BSE after net profit rose 11.61% to Rs 206.44 crore on 7.04% increase in total income to Rs 2,828.8- crore in Q4 March, 2014 over Q4 March, 2013.

- Lupin closed 1.19% down at Rs 990.20 on BSE after consolidated net profit surged 35.51% to Rs 553 crore on 20.67% growth in total income from operations to Rs 3,120.53 crore in Q4 March, 2014 over Q4 March, 2013.

- Syndicate Bank closed 7.16% down at Rs 99.20 on BSE after net profit declined 30.9% to Rs 409.30 crore on 12.06% growth in total income to Rs 5,357.40 crore in Q4 March, 2014 over Q4 March, 2013.

- Kajaria Ceramics closed 3.84% up at Rs 483.20 on BSE after consolidated net profit jumped 36.85% to Rs 42.11 crore on 19.89% growth in total income from operations to Rs 524.27 crore in Q4 March, 2014 over Q4 March, 2013.

- Infosys closed 3.15% down at Rs 3,064.45 on BSE after a foreign brokerage downgraded the stock to 'sell' from 'buy'.

- Allahabad Bank closed 8.69% down at Rs 95.05 on BSE on profit booking after the company announced Q4 March, 2014 results.

- Among the 12 BSE Sectoral indices 2 indices closed in positive while 10 indices ended the day in negative. Top Gainers: BSE Consumer Durables up by 0.77% and BSE Power by 0.20%. Top Losers: BSE IT down by 2.59% and BSE Teck by 2.23%.

Market breadth was negative at ~0.80 as investors sold large cap stocks. On provisional basis, FII’s bought Rs.1.19bn worth of Indian equities and DII’s sold Rs.2.58bn worth of equities.


Buzzing Stocks

- Gujarat Pipavav Port closed 7.66% up at Rs 96.25 on BSE after net profit jumped 72.51% to Rs 61.02 crore on 25.49% growth in total income from operations to Rs 156.20 crore in Q1 March, 2014 over Q1 March, 2013.

- Gati rose 3.58%, in the opening hour, to Rs 86.70 on BSE after consolidated net profit surged 83% to Rs 13.80 crore on 20% increase in turnover to Rs 386.50 crore in Q3 March, 2014 over Q3 March, 2013.

- Deepak Nitrite rose 1.86%, in the opening trade, to Rs 627.95 on BSE, with the stock extending recent steep rally triggered by the company's board approving stock split and bonus issue.

- Kennametal India closed 6.51% up at Rs 636.75 on BSE after the company reported net profit of Rs 5.2- crore in Q3 March, 2014 as against net loss of Rs 3.10 crore in Q3 March, 2013.

- Hikal closed 2.67% down at Rs 498.65 on BSE after net profit declined 66.8% to Rs 3.07 crore on 20% growth in net sales to Rs 227.54 crore in Q4 March, 2014 over Q4 March, 2013.

- HCL Technologies closed 4.54% down at Rs 1,320.70 on BSE after the company announced a $400 million strategic engagement with DNB Bank ASA, Norway's largest bank and one of the world's leading maritime shipping banks.

- ONGC and BPCL rose by 0.56% to 1.62%, respectively, in the morning trade, on BSE after Anadarko Petroleum Corp raised its reserve estimates for a Mozambique asset where the two Indian energy companies own stakes.

- Everonn Education closed 3.23% up at Rs 40.00 on BSE after the company said its board will meet on 15 May, 2014, inter alia to consider offer of shares through rights issue.

- Ingersoll-Rand (India) rose 3.40%, in the late morning session, to Rs 464 on BSE after net profit rose 16.99% to Rs 21.41 crore on 0.47% decline in net total income from operations to Rs 133.05 crore in Q4 March, 2014 over Q4 March, 2013.

- Clariant Chemicals (India) closed 3.50% down at Rs 670.60 on BSE after net profit fell 38.9% to Rs 15.13 crore on 1.2% decline in net sales to Rs 274.21 crore in Q1 March, 2014 over Q1 March, 2013.

- Voltamp Transformers closed 1.98% down at Rs 531.65 on BSE after net profit fell 36.2% to Rs 9.52 crore on 17.4% decline in net sales to Rs 144.49 crore in Q4 March, 2014 over Q4 March 2013.

- Hindustan Media Ventures closed 2.90% down at Rs 134.00 on BSE after net profit rose 19.86% to Rs 27.21 crore on 18.31% growth in total income from operations to Rs 183.8- crore in Q4 March, 2014 over Q4 March, 2013.

- IRB Infrastructure Developers closed 7.03% up at Rs 124.00 on BSE after the company said it received a letter of award from National Highways Authority of India for a road project in Haryana.