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Reports India

Indian stock market daily morning report (May 27, 2014, Tuesday)

May 27, 2014, Tuesday, 06:55 GMT | 02:55 EST | 11:25 IST | 13:55 SGT
Contributed by Keynote Capitals


Views on markets today

- Benchmark share indices came off their day's highs to end flat, amid a volatile trading session, as investors turned cautious ahead of key cabinet portfolios that are likely to be announced post Shri Narendra Modi's swearing-in ceremony as the 15th Prime Minister of India later this evening.

The 30-share Sensex ended up 24 points at 24,717 after hitting an all-time high of 25,175 and the 50-share Nifty ended down - points at 7,359 after hitting a high of 7,504.

Markets recorded the fourth highest turnover at Rs 4.74 lakh crore.

The India VIX, a key measure of market's expectation of volatility over the near term, surged 12% to end at 19.81.

- Shares of nine IT companies rose by 0.52% to 1%, in the intraday trade, on BSE on positive economic data in US, the biggest outsourcing market for the Indian IT firms.

Hexaware Technologies (up 1%), TCS (up 0.97%), MphasiS (up 0.88%), HCL Technologies (up 0.85%), Wipro (up 0.82%), Infosys (up 0.80%), Oracle Financial Services Software (up 0.59%), Tech Mahindra (up 0.54%) and CMC (up 0.52%), edged higher.

- Transport Corporation of India closed 6.05% up at Rs 155.25 on BSE after net profit rose 48.02% to Rs 20.53 crore on 0.70% rise in net sales to Rs 535.3- crore in Q4 March, 2014 over Q4 March, 2013.

- Among the 12 BSE Sectoral indices, 6 indices closed in positive while 6 indices ended the day in negative. Top Gainers: bSe Auto up by 1.47% and BSE IT by 1.46%. Top Losers: BSE Realty down by 5.22% and BSE Power by 2.94%.

Market breadth was sharply positive at ~0.77 as investors sold large cap stocks. On provisional basis, FII's sold Rs 0.84bn worth of Indian equities and DII's sold Rs 2.08bn worth of equities.


Economic and Corporate Developments

- The new finance minister would have to get on the Budget exercise for 2014-15 right after he takes charge on Tuesday, as the plan is to present it in Parliament by June-end or the first fortnight of July.

Officials said the initial process had begun and the minister would be presented with facts and figures. Beside, the idea is to have pre-Budget consultations with stakeholders from the first week of the minister taking over, though "a final call will be taken by the new minister", an official said.

The minister customarily meets industry chambers, industrialists, economists, agriculturalists, trade unions and so on for preBudget interactions.


Buzzing Stocks

- MOIL rose 4.29%, in the morning trade, to Rs 335.80 on BSE after net profit surged 35.67% to Rs 149.35 crore on 9.44% growth in net sales to Rs 292.01 crore in Q4 March, 2014 over Q4 March, 2013.

- Vardhman Textiles jumped 9.91%, in the morning trade, to Rs 379.25 on BSE after net profit rose 33.90% to Rs 154.32 crore on 13.85% rise in net sales to Rs 1,282.22 crore in Q4 March, 2014 over Q4 March, 2013.

- Ranbaxy Laboratories and Sun Pharmaceuticals Industries rose by 1.86% to 2.64% on BSE on reports the Andhra Pradesh High Court lifted a temporary stay it imposed on Sun Pharmaceutical Industries' takeover of Ranbaxy Laboratories.

- Hindustan Motors was locked at 10% lower circuit at Rs 11.97 on BSE after the company declared suspension of work at its Uttarpara Plant.

- VA Tech Wabag closed 7.29% up at Rs 1,046.90 on BSE after consolidated net profit rose 18% to Rs 71 crore on 33% increase in total income to Rs 897 crore in Q4 March, 2014 over Q4 March, 2013.

- DLF closed 5.63% down at Rs 204.35 on BSE after the company's subsidiary DLF Emporio successfully placed India's first Commercial Mortgage Backed Security (CMBS) issuance of Rs 525 crore.

- ONGC rose 3.56%, in the morning trade, to Rs 422.00 on BSE after the company said its overseas arm, ONGC Videsh, has signed a deal with Russia's largest oil and gas producer Rosneft to jointly explore hydrocarbons in the offshore Arctic.

- Engineers India closed 4.18% up at Rs 285.45 on BSE after net profit fell 42.69% to Rs 103.55 crore on 7.61% decline in total income to Rs 571.61 crore in Q4 March, 2014 over Q4 March, 2013.

- Eicher Motors closed 3.24% down Rs 7,203.85 on BSE on profit booking after the stock spurted 17.51% in the preceding four trading sessions to Rs 7,444.85 on 23rd May, 2014, from a recent low of Rs 6,335.25 on 19th May, 2014.

- Lanco Infratech was locked at 10% lower circuit at Rs 13.45 on BSE after the company declared weak result for Q4 and year ended 31st March, 2014 after market hours on Friday, 23rd May, 2014.

- Maruti Suzuki India closed 1 87% down at Rs 2 340 35 on BSE after the company launched a CNG variant of its latest compact car Celerio.

- Lakshmi Machine Works closed 3.57% up at Rs 3,500.15 on BSE after net profit jumped 88.4% to Rs 53.70 crore on 27.5% growth in total income to Rs 679.34 crore in Q4 March, 2014 over Q4 March, 2013.

- Dhanlaxmi Bank closed 6.81% down at Rs 43.80 on BSE, after the bank reported a net loss of Rs 134.26 crore in Q4 March, 2014 as against net profit of Rs 28.66 crore in Q4 March, 2013.

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