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Reports India

Indian stock market daily morning report (May 26, 2014, Monday)

May 26, 2014, Monday, 07:05 GMT | 02:05 EST | 10:35 IST | 13:05 SGT
Contributed by Keynote Capitals


Views on markets today

- The markets picked up momentum in the noon session to end the week on a high due to strength in banking and oil stocks. The optimistic cues from the global front would have also contributed to the positive mood on Dalal Street.

The Sensex ended at 24,693, up 31- points and the Nifty ended comfortably above the 7,300 mark at 7,367, up 90 points.

The broader markets continued their outperformance for the fifth consecutive session; the midcap and smallcap indices jumped by nearly 2% each at 8,66- and 9,12- respectively.

- State Bank of India, after hitting three year high in the intraday trade, closed 9.69% up at Rs 2,755.25 on BSE as the bank's gross non-performing assets to gross advances declined to Rs 61,605.35 crore as on 31st March, 2014, from Rs 67,799.33 crore as on 31st December, 2013.

- ITC closed 0.77% down at Rs 342.15 on BSE after net profit rose 18.16% to Rs 2,278.01 crore on 11.88% increase in total income from operations to Rs 9,238.52 crore in Q4 March, 2014 over Q4 March, 2013.

- Ashok Leyland closed 13.67% up at Rs 32.85 on BSE after net profit surged 142.2% to Rs 363.39 crore on 17.31% fall in total income to Rs 3,092.51 crore in Q4 March, 2014 over Q4 March, 2013.

- Munjal Showa closed 6.69% down at Rs 105.25 on BSE after net profit declined 15.73% to Rs 18.85 crore on 4.98% growth in net sales to Rs 416.90 crore in Q4 March, 2014 over Q4 March, 2013.

- Colgate-Palmolive (India) closed 0.85% up at Rs 1,373.85 on BSE after net profit rose 7.39% to Rs 132.30 crore on 10.38% increase in total income to Rs 931.22 crore in Q4 March, 2014 over Q4 March, 2013. Also, the company's new manufacturing unit in Gujarat started commercial production of toothpaste on 21st May, 2014.

- Among the 12 BSE Sectoral indices, 10 indices closed in positive while 2 indices ended the day in negative. Top Gainers: BSE Power up by 3.66% and BSE Oil & Gas by 2.16%. Top Losers: BSE Consumer Durables down by 0.82% and BSE FmCG by 0.47%.

Market breadth was sharply positive at ~2.60 as investors bought large cap stocks. On provisional basis, FII's bought Rs 4.16bn worth of Indian equities and DII's sold Rs 1.35bn worth of equities.


Buzzing Stocks

- Ester Industries was locked at 5% upper circuit at Rs 16.19 on BSE, with the stock extending Thursday's gains triggered by the company reporting turnaround results in Q4 March, 2014.

- HDFC Bank closed 1.63% down at Rs 789.50 on BSE on reports the government has turned down the bank's proposal to raise the cap on foreign institutional investment to 67.55% from 49%.

- JK Lakshmi Cement closed 3.28% up at Rs 178.05 on BSE after net profit after adjusting for exceptional item and tax surged 59% to Rs 52.91 crore on 21% growth in turnover to Rs 721.55 crore in Q4 March, 2014 over Q4 March, 2013.

- CMC rose 2.07% to Rs 1,502.20, in the opening trade, on BSE after the Reserve Bank of India allowed foreign institutional investors to purchase up to 35% of the paid-up capital of the company.

- Jain Irrigation Systems closed 10.58% up at Rs 122.30 on BSE after net profit jumped 95% to Rs 81.60 crore on 8.9% growth in sales including other operating income and excise duty to Rs 1,428.10 crore in Q4 March, 2014 over Q4 March, 2013.

- Gujarat State Petronet closed 2.03% down at Rs 79.60 on BSE after net profit fell 43.35% to Rs 91.46 crore on 34.37% decline in total income to Rs 245.92 crore in Q4 March, 2014 over Q4 March, 2013.

- Gitanjali Gems closed 4.69% down at Rs 97.50 on BSE on profit booking after the stock surged 58.48% in the preceding four trading sessions to Rs 102.30 on 22nd May, 2014, from a recent low of Rs 64.55 on 16th May, 2014.

- SKS Microfinance closed 3.73% down at Rs 272.05 on BSE, with the stock sliding on profit booking after recent rally after the company announced closure of QIP issue of 1.77 crore shares to qualified institutional buyers at Rs 225 per share.

- IG Petrochemicals was locked at 20% upper circuit at Rs 37. on BSE after the company reported a net profit of Rs 14.17 crore in Q4 March, 2014 as against net loss of Rs 20.37 crore in Q4 March, 2013.

- Ashoka Buildcon closed 9.68% up at Rs 144.45 on BSE after GMO Emerging Domestic Opportunities Fund purchased 1.25% equity stake in the company via bulk deal on NSE on Thursday, 22nd May, 2014.

- Reliance Communications closed 4.07% up at Rs 144.35 on BSE on reports China's Citic Telecom is likely to pick up a 50% stake in Reliance Communication's undersea cable business.

- Heritage Foods closed 3.58% down at Rs 340.25 on BSE after consolidated net profit declined 53.49% to Rs 6.91 crore on 10.97% growth in total income from operations to Rs 437.74 crore in Q4 March, 2014 over Q4 March, 2013.

- Bhel closed 3.28% up at Rs 272.45 on BSE after the company said it commissioned the fourth and final 130 megawatt hydro generating unit at Parbati III Hydro Electric Project in Himachal Pradesh.

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