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Reports India

Indian stock market daily morning report (May 21, 2014, Wednesday)

May 21, 2014, Wednesday, 06:15 GMT | 01:15 EST | 09:45 IST | 12:15 SGT
Contributed by Keynote Capitals

Views on markets today

- Benchmark indices ended marginally positive amid range bound trades as gains in IT and index heavyweight shares like ITC and HDFC helped offset losses in oil shares.

The Sensex ended at 24,377, gaining marginally by 14 points and the Nifty closed at 7,276, up 12 points.

- Shares of 14 real estate developers rose by 1.67% to 17.47%, in the intraday trade, on BSE on renewed buying.

Unitech (up 17.47%), Phoenix Mills (up 16.95%), D B Realty (up 10.87%), Oberoi Realty (up 9.36%), HDIL (up 7.95%), Prestige Estates (up 5.89%), Parsvnath Developers (up 4.93%), Godrej Properties (up 3.91%), Peninsula Land (up 3.8%), Anant Raj (up 3.13%), Sobha Developers (up 2.43%), DLF (up 2.22%), Indiabulls Real Estate (up 2.11%) and Sunteck Realty (up 1.67%), edged higher.

- Aditya Birla Nuvo closed 0.89% up at Rs 1243.10 on BSE after consolidated reported net profit declined 11.55% to Rs 176 crore on 1.65% growth in revenue to Rs 7,112 crore in Q4 March, 2014 over Q4 March, 2013.

- eClerx Services closed 2.16% up at Rs 1,204.95 on BSE after consolidated net profit rose 3.41% to Rs 64.45 crore on 1.17% decline in total income from operations to Rs 216.93 crore in Q4 March, 2014 over Q3 December, 2013.

- Whirlpool of India closed 6.27% up at Rs 274.65 on BSE after net profit jumped 43.63% to Rs 35.55 crore on 6.29% growth in total income from operations to Rs 666.33 crore in Q4 March, 2014 over Q4 March, 2013.

- ONGC closed 3.96% at Rs 399.40 on BSE, with the stock sliding on profit booking after recent rally.

- Among the 12 BSE Sectoral indices, 10 indices closed in positive while 2 indices ended the day in negative. Top Gainers: BSE Realty up by 4.89% and BSE teck by 2.40%. Top Losers: BSE Oil & Gas down by 3.26% and BSE Bankex by 0.77%.

Market breadth was sharply positive at ~2.81 as investors bought large cap stocks. On provisional basis, FII's sold Rs 1.02bn worth of Indian equities and DII's sold Rs 6.56bn worth of equities. The ratio of NSE Total Market Capitalization to GDP (at Current Prices) stands at 294.8%.

Economic and Corporate Developments

- Narendra Modi, who was formally elected the leader of the BJP parliamentary party and the NDA, will take oath as Prime Minister on May 26, BJP chief Rajnath Singh said yesterday.

NDA leaders led by L K Advani met President Pranab Mukherjee to convey support to the Narendra Modi-led government.

Singh said BJP had support letters of 10 allies of the NDA which includes 335 MPs.

Buzzing Stocks

- Wipro closed 2.61% up at Rs 494.05 on BSE after the company signed a deal with Japan's Takeda Pharmaceutical Company to provide IT infrastructure management services.

- Sintex Industries closed 5.00% up at Rs 85.10 on BSE, with the stock extending Monday's 18.32% rally triggered by the allotment of 1.64 crore equity shares at Rs 69.01 per share to promoter group companies.

- Reliance Infrastructure closed 2.71% down at Rs 711.95 on BSE after consolidated net profit fell 14.3% to Rs 621.42 crore on 20.73% decline in total income to Rs 5,036 crore in Q4 March, 2014 over Q4 March, 2013.

- Reliance Power closed 1.69% up at Rs 87.35 on BSE after consolidated net profit rose 1% to Rs 269 crore on 11% rise in total income to Rs 1,400 crore in Q4 March, 2014 over Q4 March, 2013.

- Automobile Corporation of Goa closed 7.48% down at Rs 289.00 on BSE as the stock turned ex-dividend yesterday on 20th May 2014, for final dividend of Rs 12.50 per share for the year ended 31st March, 2014.

- Coal India closed 5.89% down at Rs 366.70 on BSE on profit booking after the stock surged 32.47% in the preceding seven trading sessions to Rs 389.65 on 19th May, 2014 from a recent low of Rs 294.15 on 8th May, 2014.

- IL&FS Engineering and Construction Company closed 13.85% up at Rs 72.35 on BSE after the company reported a net profit of Rs 33.59 crore in the quarter ended 31st March, 2014 as against net loss of Rs 45.92 crore in quarter ended 31st March, 2013.

- Dynamatic Technologies closed 3.08% up at Rs 920.00 on BSE after the company said it has signed an agreement for sale of additional non-core assets for Rs 70 crore.

- J Kumar Infraprojects closed 11.29% up at Rs 239.45 on BSE after GMO Emerging Domestic Opportunities Fund acquired 4% equity stake in company through bulk deals on Monday, 19th May, 2014.

- Bank of Baroda closed 3.17% down at Rs 938.45 on BSE after index provider MSCI said it will delete the stock from its MSCI global standard indexes, effective 2nd June, 2014.

- SpiceJet closed 3.32% up at Rs 17.10 on BSE on reports the company is in advanced talks to get funding.

- FDC closed 2.23% up at Rs 126.00 on BSE after the company said it has purchased a land including factory building at Andheri (West), Mumbai, for a total consideration of Rs 115 crore.

- Munjal Auto Industries closed 7.08% up at Rs 63.50 on BSE after net profit rose 14.9% to Rs 13.66 crore on 16.3% growth in net sales to Rs 217.84 crore in Q4 March, 2014 over Q4 March, 2013.

- Bhel closed 3.60% up at Rs 277.90 on BSE after the company said it signed a pact with an Indonesian firm to set up power plant in the region.