Nifty Settles Above 8000; Midcap Index Outperforms with 1% gain

Dalal Street CapitalHeightSupported by positive Asian and European markets, the Indian stock market closed Wednesday trading session in the positive zone for the second consecutive session.

Investors still expected sentiment to remain weak given continued worries about the economic impact from Narendra Modi’s action, with volatility expected ahead of the monthly expiry of derivative contracts on Thursday.

Economic Affairs Secretary Shaktikanta Das said that banks, NABARD and RBI have been advised to make cash available to district cooperative banks to ensure that farmers have access to funds. A total of Rs 21,000 crore has been sanctioned by NABARD to district central cooperative bank.

With the new currencies yet to reach many of the rural areas, the government said Rs 500 and Rs 2000 notes have been made available in 1.55 lakh post offices across the country. In addition, to promote greater usage of payments through e-wallets, RBI has decided to increase the monthly transaction limit for individuals from Rs 10,000 to Rs 20,000. Similar enhancements have also been announced by RBI for merchants.

Asian markets, Hong Kong’s Hang Seng and Shanghai Composite Index were marginally down, while Japan’s Nikkei was marginally up.

The S&P BSE Sensex closed at 26,052, up 91 points, while NSE Nifty ended the day at 8,033, up 31 points. A total of 6 stocks registered a fresh 52-week high in trade today, while 35 stocks touched a new 52-week low on the NSE. Out of 1,883 stocks traded on the NSE, 371 declined, 1243 advanced and 269 remained unchanged today.

The BSE Mid-cap Index is trading up 1.22% at 12043, whereas BSE Small-cap Index is trading up 1.51% at 11802.

Healthcare, Metal, Consumer Durables, Capital Goods sectors saw promising traction towards end of the trading hours, while Banking, Finance, Telecom, Power sectors indicated lack of trading activity on BSE.

Lupin, Hindalco, Asian Paints, Tata Steel, Bosch and L&T were the top gainers, whereas M&M, HDFC, Bank of Baroda, Maruti, Gail, BPCL and Bharti Airtel were the losers on NSE in the closing hours.

The India VIX was down 1.50% at 18.1875. The Rupee was trading lower at Rs. 68.50/$. Gold was trading at Rs 29,173 per 10 gms and silver was trading at Rs 40,795 per kg. Crude Oil is trading Rs 3306 per lot.

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Buzzing Stocks: Reliance Capital, Jet Airways, Lupin shine, while Wockhardt, Siemens fall

Top Stocks For TodayReliance Capital, a part of Anil Ambani led Reliance Group, today announced value unlocking in the Radio and TV businesses that will reduce its debt by approx. Rs 1,900 crore (US$ 283 million) upon final completion of stake sale transactions. The stock is currently trading at Rs 426.5, up by Rs 6.65 or 1.58% from its previous closing of Rs 419.85 on the BSE.

Siemens posted a net profit after tax of Rs 2,873.7 crore for the year ended September 30, 2016 as compared to Rs 1,174 crore for the year ended September 30, 2015.

Jet Airways (India) Ltd is currently trading at Rs 355.5, up by Rs 13.9 or 4.07% from its previous closing of Rs 341.6 on the BSE.

A2Z Infra Engineering Ltd  rallied 5%. The company’s subsidiary A2Z Green Waste Management Limited (previously known as A2Z Infrastructure) (A2Z Green”), has on November 19, 2016, agreed to a framework with one of its lenders for a settlement of its various debt obligations aggregating Rs 4161.84 million.

Bharat Petroleum Corporation Ltd is currently trading at Rs 635, down by Rs 7.05 or 1.1% from its previous closing of Rs 642.05 on the BSE.

Shares of metal stocks were trading higher for the second straight day on BSE. The BSE Metal index is trading up 2.2% or 219 points at 10,216 as against the previous close of 10,011. The Metal index opened at 10,101 and hits a high of 10,240 and a low of 10,080.

Lupin climbed 3.5% after the company has received tentative approval for its Abacavir Sulfate and Lamivudine Tablets, 600 mg/300 mg from the USFDA to market a generic version of ViiV Healthcare Company’s Epzicom Tablets, 600 mg/300 mg.

Larsen & Toubro soared 3%. Larsen & Toubro on Tuesday reported an 84% surge in its consolidated net profit to Rs 1,435 crore for the quarter ended September 30 as compared to Rs 778 crore in the same period last year.

Wockhardt dropped 2.2% after the company informed the exchange that USFDA has issued a Warning Letter to C P Pharmaceuticals Limited, Wrexham, United Kingdom, a step down Subsidiary of the Company.

Sun Pharma rose 1.6%.  The company announced the execution of definitive agreements by its wholly owned subsidiary, for the acquisition of 85.1% of JSC Biosintez, a Russian pharmaceutical company engaged in manufacture and marketing of pharmaceutical products in Russia and CIS region.

Siemens gained 1%. The company will announce its Q2 numbers today.

Canara Bank inched up 0.50% on  the BSE. The bank is planning to sell a portion of its 43%  stake in business arm Can Fin Homes as part of the government’s diktat asking public sector banks look to sell their noncore businesses.

UltraTech Cement is trading in green on the BSE. The company on Tuesday said the Competition Appellate Tribunal (COMPAT) has granted a stay on an order passed by the fair trade regulator Competition Commission of India against the company on deposit of 10% of the penalty amount.

Birla Corporation rallied 2%. Birla Corporation reported an over two-fold jump in standalone net profit at Rs 58 crore for the second quarter ended September 30, 2016. It had registered a net profit of Rs 23 crore in the year-ago period.

EIH is trading marginally lower at Rs 101.65. The company that runs hotels and resorts under Oberoi and Trident brands said it plans to delist its global depository receipts from the London Stock Exchange in February 2017.

Bharti Airtel slipped 1% to Rs 301.55 on the BSE. The telecom company said its customers in the city could face some “teething issues” over the next few days as the country’s largest telecom operator upgrades its 3G network.

Suven Life Sciences advanced 2%. Suven Life Sciences has secured two patents – one each from China and Mexico for its new chemical entities (NCEs) used in the treatment of neurodegenerative diseases.

NMDC gained 1.2%.  Leading steel companies across the globe are showing interest in buying the Nagarnaar steel plant of the NMDC, which is coming up in Chhattisgarh’s Bastar district, as per media reports.

Vedanta soared 4.2% after the company is looking at increasing its captive power generation capacity by 1200MW amid rising production. The company is considering setting up 350MW super-critical units in joint ventures at its different production bases in the country.

Reliance Capital Ltd
BSE 435.90 16.05 (3.82%)
NSE 435.70 15.80 (3.76%)

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Live Stock Market Updates – Sensex, Nifty erase morning gain

Dalal Street CapitalHeightAt 10:10 AM, the S&P BSE Sensex is trading at 26,292 down mere seven points, while NSE Nifty is trading at 8,145 up 33 points.

The BSE Mid-cap Index is trading down 0.21% at 12,019, whereas BSE Small-cap Index is trading down 0.41% at 11,859.

Axis Bank, Tata Motors, Lupin, SBI, Bharti Airtel and ICICI Bank are among the gainers, whereas Wipro, Dr Reddy’s, Sun Pharmaceuticals, Power Grid and Coal India are losing sheen on BSE.

Some buying activity is seen in banking, auto financial services, FMCG and realty sectors, while media and IT sectors are showing weakness on NSE.

The INDIA VIX is down 6.75% at 18.1850. Out of 1,853 stocks traded on the NSE, 524 declined, 927 advanced and 402 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trade today, while 16 stocks touched a new 52-week low on the NSE.

Moody’s has affirmed India’s Baa3 rating and the positive outlook but no upgrade is on the anvil.

Global cues turned weak as profit booking sets in after a week of heady gains both on the indices & bond yields. With US dollar also weakening emerging markets saw a relief rally with Brazilian index up almost 2% even as most European markets ended in the red. We could see some Asian markets also bounce from oversold territory as value buying emerges.

On the global front, all eyes will be on Janet Yellen as she speaks before congress today.

Nasscom cut growth guidance for the industry to 8-10 % in constant currency terms from 10-12%. According to the guidance, India will continue to gain market share of 7% of global software and IT services and 56% of global sourcing.

New Delhi has woken up to tremors as a 4.4 magnitude earthquake struck on the Delhi-Haryana border early morning. The first day of Parliament’s Winter session saw the Opposition launch an attack on the government for the demonetisation of high value currencies.

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Lupin Q2 Profit Rises 58% to Rs 662 cr

Lupin Q2 profit rises 58% to Rs 662 cr, North America biz up 73%
Pharma major Lupin ‘s second quarter earnings missed analysts’ expectations on Wednesday with profit rising 57.7 percent year-on-year to Rs 662.2 crore on US business growth. The stock surged 3.6 percent after Democratic Party candidate Hillary Clinton lost US elections but it shed all gains due to lower-than-expected quarterly earnings. Revenue during the quarter increased 28.9 percent to Rs 4,290.5 crore compared with year-ago period, driven by US, Japan as well as India businesses.

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Results to watch out for! Cipla, Lupin, Bosch, Power Grid in Focus

The results which are expected today are Cipla, Lupin, Apollo Tyres, Bosch, Power Grid Corporation, REC, PFC, Eveready Industries, Godrej Properties, Indian Bank, Karnataka Bank, UCO Bank, J&K Bank, Aarti Drugs, Punjab & Sind Bank, JK Tyre & Industries, FDC, Hikal, Capital First, Edelweiss Financial,  Max India, NCC, L&T Infotech, Narayana Hrudayalaya, Orient Cement.

Parag Milk Foods, Pidilite Industries, Ramco Cements, TBZ, Ujjivan Financial Services, VIP Industries, Ansal Housing, Caplin Point, DFM FOODS, Emkay Global, HOV Services, Huhtamaki PPL, IG Petrochemicals, ITD Cementation India, Jamna Auto Industries, Kesoram Industries, Lumax Auto Technologies, Mold-Tek Technologies, Morepen Laboratories, MRO-TEK, Mukand, Orchid Pharma, Ramco Systems, Rico Auto Industries, Sanghvi Movers, Saregama India, Satin Creditcare, Snowman Logistics, Speciality Restaurants, Udaipur Cement Works, Venus Remedies, Voltamp Transformers.

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Live Stock Market Updates – Sensex falls over 350 points; Nifty holds 8,500

sensex fallsThe Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues. The domestic market dropped the most in four-weeks tracking a rout in global equities amid mounting anxiety ahead of next week’s American presidential election.The Nifty slipped below its crucial psychological level of 8,550 weighed down by losses in realty, power, oil & gas, metal, consumer durables, capital goods and banking stocks.

At 2:54 PM, the S&P BSE Sensex is trading at 27,580 down 296 points, while NSE Nifty is trading at 8,529 down 97 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

NTPC, Dr Reddy’s, M&M and HUL are among the gainers, whereas ONGC, SBI, ICICI Bank, Adani Ports and GAIL are losing sheen on BSE.

All the BSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 7.45% at 16.9075. Out of 1,871 stocks traded on the NSE, 1,337 declined, 182 advanced and 352 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

TajGVK Hotels & Resorts Ltd is currently trading at Rs 126.5, up by Rs 5.3 or 4.37% from its previous closing of Rs 121.2 on the BSE. The company reported net profit at Rs 3.4 crore for the quarter ended September 30. EBITDA increased by 39.5% yoy to Rs 15.7 crore while EBITDA margins increased by 526 bps yoy to 23.9% driven by operational efficiencies.

Zensar Technologies Ltd is currently trading at Rs 1048, up by Rs 116.7 or 12.53% from its previous closing of Rs 931.3 on the BSE. Zensar Technologies Limited, an RPG Company and the shareholders of Foolproof Ltd. today announced that they have entered into a definitive agreement for Zensar to acquire Foolproof Limited along with its two wholly owned subsidiary companies in UK and one wholly owned subsidiary Company in Singapore for an undisclosed sum.

Mahindra & Mahindra Ltd climbed 3% on the BSE after the automaker’s sales grew 1% which included a 28% jump in exports for the month of October.

Bharti Infratel Ltd is currently trading at Rs 369.9, up by Rs 14.7 or 4.14% from its previous closing of Rs 355.2 on the BSE.

DCB Bank slipped 1% after huge block deal.Around 1.23 million shares of the bank has changed hands in a two block deal.

Bajaj Auto is trading lower after the company said that its domestic motorcycle sales rose 5% in the month of October 2016, at 212,997 units as against 202,042 units in the same month of last year.

MIC Electronics tumbled 9% to Rs 16 on BSE after consolidated net profit declined 71.6% to Rs 2 crore on 2% rise in net sales to Rs 54 crore in Q2 September 2016 over Q2 September 2015.

Cox & Kings slipped 1% after the company has partnered with UAE Exchange India, the leading financial institution, to provide Inward remittance and domestic money transfer services in India.

Escorts is trading marginally lower on BSE after the company reported strong tractor sales in October 2016 over October 2015. Domestic tractor sales rose 52% to 8,859 units in October 2016 over October 2015. Export rose 270% to 111 units in October 2016 over October 2015.

Dabur India advanced 1.3% after the company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.

MOIL rallied 5.6%  to Rs 381. The company has increased prices of various grades of manganese ore for the October-December quarter effective from November 1, 2016. The prices have been increased by 30% on the existing prices of all Ferro Grades of ore, while prices have been increased by 25% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.

Lupin is trading lower on the BSE. The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.

Tata Motors fell 2.6%. The company sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7% year-on-year rise in US October sales figures.

Coal India is trading 1% lower at Rs 326. Coal India produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.

Majesco zoomed 2.8%. The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.

VST Industries slipped 2.8% to Rs 2,400. VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.

IL&FS Engineering is trading marginally lower. The company will announce its Q2 numbers today.

Maithan Alloys tanked 12.3%. The company informed BSE that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200%, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.

BGR Energy Systems slumped 3%. BGR Energy Systems  received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.

NHPC inched up 0.19% after the company announced commissioning of a 50MW wind power project in Rajasthan.

Ujaas Energy zoomed 14.4%. The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Central Bank of India slipped 1.3%. The board on Tuesday considered and approved raising of equity capital by issuance and allotment of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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Live Stock Market Updates – Sensex Slips Over 250 Points; Realty, Banking, IT Drag

stock market crash todayThe Sensex and Nifty staged a gap down opening in trades today on the back of weak global cues. The domestic market dropped the most in four-weeks tracking a rout in global equities amid mounting anxiety ahead of next week’s American presidential election.The Nifty slipped below its crucial psychological level of 8,550 weighed down by losses in realty, power, oil & gas, metal, consumer durables, capital goods and banking stocks.

At 1:42 PM, the S&P BSE Sensex is trading at 27,594 down 282 points, while NSE Nifty is trading at 8,536 down 91 points.

The BSE Mid-cap Index is trading down 1.40% at 13,254 whereas BSE Small-cap Index is trading down 1.44% at 13,362.

NTPC, Dr Reddy’s, M&M and HUL are among the gainers, whereas ONGC, SBI, ICICI Bank, Adani Ports and GAIL are losing sheen on BSE.

All the BSE sectoral indices were trading in the negative territory.

The INDIA VIX is up 7.45% at 16.9075. Out of 1,871 stocks traded on the NSE, 1,337 declined, 182 advanced and 352 remained unchanged today.

A total of 19 stocks registered a fresh 52-week high in trade today, while nine stocks touched a new 52-week low on the NSE.

Mahindra & Mahindra Ltd climbed 3% on the BSE after the automaker’s sales grew 1% which included a 28% jump in exports for the month of October.

Bharti Infratel Ltd is currently trading at Rs 369.9, up by Rs 14.7 or 4.14% from its previous closing of Rs 355.2 on the BSE.

DCB Bank slipped 1% after huge block deal.  Around 1.23 million shares of the bank has changed hands in a two block deal.

Bajaj Auto is trading lower after the company said that its domestic motorcycle sales rose 5% in the month of October 2016, at 212,997 units as against 202,042 units in the same month of last year.

MIC Electronics tumbled 9% to Rs 16 on BSE after consolidated net profit declined 71.57% to Rs 2 crore on 2% rise in net sales to Rs 53.97 crore in Q2 September 2016 over Q2 September 2015.

Cox & Kings slipped 1% after the company has partnered with UAE Exchange India, the leading financial institution, to provide Inward remittance and domestic money transfer services in India.

Escorts is trading marginally lower on BSE after the company reported strong tractor sales in October 2016 over October 2015. Domestic tractor sales rose 51.9% to 8,859 units in October 2016 over October 2015. Export rose 270% to 111 units in October 2016 over October 2015.

Dabur India advanced 1.3% after the company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.

MOIL rallied 5.6%  to Rs 381. The company has increased prices of various grades of manganese ore for the October-December quarter effective from November 1, 2016. The prices have been increased by 30% on the existing prices of all Ferro Grades of ore, while prices have been increased by 25% on all grades of SMGR (Mn 30%) and SMGR Low (Mn 25%) on the prevailing prices.

Lupin is trading lower on the BSE. The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.

Tata Motors fell 2.6%. The company sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7% year-on-year rise in US October sales figures.

Coal India is trading 1% lower at Rs 326. Coal India produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.

Majesco zoomed 2.8%. The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.

VST Industries slipped 2.8% to Rs 2,400. VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.

IL&FS Engineering is trading marginally lower. The company will announce its Q2 numbers today.

Maithan Alloys tanked 12.3%. The company informed BSE that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200%, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.

BGR Energy Systems slumped 3%. BGR Energy Systems  received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.

NHPC inched up 0.19% after the company announced commissioning of a 50MW wind power project in Rajasthan.

Ujaas Energy zoomed 14.4%. The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Central Bank of India slipped 1.3%. The board on Tuesday considered and approved raising of equity capital by issuance and allotment of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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Top 17 Stocks in Focus Today: Tata Motors, Lupin, Dabur

Top Stocks For TodayDabur India Ltd: The company is planning to acquire personal care business of CTL group in South Africa, as per media reports.The acquisition will mark Dabur’s entry into the South African personal care market, the company said in a statement.

Moil: MOIL signed a pact with Madhya Pradesh government to conduct mineral exploration in the state.

Lupin: The pharma company said that it has received final approval from the USFDA to market norgestimate and ethinyl estradiol tablets marked for use by females of reproductive potential to prevent pregnancy.

Jubilant Life Sciences: The company has received approval from the US health regulator to market Rosuvastatin Calcium tablets, used for the treatment of hyperlipidemia, in the American market.

Tata Motors Ltd: Tata Motors sold 16,311 units of passenger vehicles in October, up 28% from the year ago. Jaguar Land Rover, a wholly owned subsidiary of Tata Motors, reported 7 per cent year-on-year rise in US October sales figures.

Coal India:  Coal India  produced 273.57 million tonnes (MT) of coal in the first seven months of the ongoing fiscal, lower than the 307 MT target, as per media reports.

Gujarat State Petroleum Corp, ONGC: Gujarat government-owned company Gujarat State Petroleum Corp may hive off the Deen Dayal field in the Krishna-Godavari basin into a separate asset if Oil and Natural Gas Corp. Ltd decides to buy a stake in it, as per media reports.

Majesco: The company reported a consolidated net profit of Rs 7 crore for the quarter ended September 30, 2016 against net loss of Rs 0.78 crore in the same quarter a year ago.

Dena Bank and State Bank of Bikaner and Jaipur: Both public sector lenders on Tuesday slashed benchmark lending rates by up to 0.1%.

VST Industries: VST Industries reported 11% rise in net profit at Rs 35 crore for the quarter ended September 30, 2016 against Rs 32 crore in the corresponding quarter a year ago.

Amtek Auto: The company is expected to shortlist bidders for its German division Tekfor as soon as next week.

Eicher Motors: Royal Enfield, the two-wheeler division of Eicher Motors, on Tuesday posted a 33 per cent rise in total sales at 59,127 units in October.

IL&FS Engineering: The company will announce its Q2 numbers today.

Maithan Alloys: The company informed bourses that due to adverse market conditions, the production at the Kalyaneshwari Plant has been cut by 15 per cent with effect from October 31, 2016. Between July and October 2016, the cost of imported manganese ore, which accounts for the major cost of production has increased by 200 per cent, imported coke by 80%, whereas the sales price of silico manganese, the finished product, has increased only by 30%.

BGR Energy Systems: BGR Energy Systems  received a contract worth Rs.2,600 crore from Tamil Nadu Generation and Distribution Corp. Ltd for the execution of a thermal power project. The contract should be completed in three years.

Strides Shasun: Strides Shasun got approval from the US Food and Drug Administration for anti-retroviral Abacavir tablets used for the treatment of patients with HIV infection.

Godrej Properties: Godrej Properties announced that it has sold over 60,000 sq meters of villas with a booking value in excess of Rs 300 crore in a single day at the launch of its first project, Crest, at its 100 acre township Godrej Gold Links.

NHPC: NHPC announced commissioning of a 50MW wind power project in Rajasthan.

Ujaas Energy: The company has bagged an order from Airports Authority of India for design, manufacturing and commissioning of rooftop grid-connected solar photovoltaic system.

Central Bank of India: The board on Tuesday considered and approved raising of equity capital by issuance and allotement of up to 1.71 crore equity shares of the face value of Rs 10 each at the issue price of Rs 91.45 per equity share aggregating to Rs 156.79 crore to Life Insurance Corporation of India including its various schemes on preferential basis.

Dabur India Ltd
BSE 291.35 1.30 (0.45%)
NSE 290.95 [0.30] ([0.10]%)

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Opening Bell – Sensex falls over 250 points; Metal, Banking stocks drag

stock market downAt 9:15 AM, the S&P BSE Sensex is trading at 27,597 down 279 points, while NSE Nifty is trading at 8,542 down 83 points.

The rupee opened lower by eight paise at 66.78/$ as against the previous close of 66.70/$.

Asian markets opened weak as overnight US indices triggered a sharp correction in global markets with Europe, Latin America following suit. This after pollsters predicted a closer than expected result in the US elections on the 8th November which showed both candidates evenly poised. This set the “cat among st the pigeons’ & the Dow Jones slipped to July levels from where the rally started giving up all the gains of the last 4 months.

Expect high volatility as data is analysed by experts & opinion on the results keeps market on the tenter hooks. Gold continues to hit new highs as uncertainty drives the price higher.

The Fed meet underway is expected to keep rates unchanged. Investors have priced in a status quo for now ahead of the US Presidential elections.

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Live Stock Market Updates – Nifty trades below 8650

Dalal Street CapitalHeight

The domestic market are trading flat as global investors remained cautious as the acrimonious US presidential election campaign entered its final week. The Bank of Japan on Tuesday held off on expanding stimulus and maintained short-term interest rate target. Market is also watching global cues, with the U.S. Federal Reserve’s meeting set to begin on Tuesday, which could provide clues on a December rate hike.

The Indian equity market opened higher on Tuesday after Chinese manufacturing gauges climbed to two-year highs and Bank of Japan kept monetary rates unchanged.

At 1:36 PM, the S&P BSE Sensex is trading at 28,009 up 78 points, while NSE Nifty is trading at 8,662 up 36 points.

The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) a gauge of manufacturing performance jump to 54.4 in October from 52.1 in September, indicative of a robust improvement in manufacturing business conditions in the country. Manufacturing sector growth in India hit a 22-month high in October, driven by a sharp and accelerated increase in new orders, purchasing activity and output.

The BSE Mid-cap Index is trading up 0.37% at 13,523 whereas BSE Small-cap Index is trading up 0.21% at 13,612.

HDFC, Hero MotoCorp, Tata Steel, Lupin and Adani Ports are among the gainers, whereas ONGC, Axis Bank, Infosys, M&M, Coal India and Sun Pharmaceuticals are losing sheen on BSE.

Some buying activity is seen in metal, telecom, power, utilities and basic materials sectors, while consumer durables, banking,power, IT, teck and FMCG are showing weakness on BSE.

The INDIA VIX is up 0.85% at 15.6225. Out of 1,888 stocks traded on the NSE, 760 declined, 832 advanced and 296 remained unchanged today.

A total of 115 stocks registered a fresh 52-week high in trade today, while 10 stocks touched a new 52-week low on the NSE.

Ashok Leyland Ltd is currently trading at Rs 91.55, up by Rs 0.2 or 0.22% from its previous closing of Rs 91.35 on the BSE. The company posted its total sales in October at 12,533 vehicles versus 9,803 vehicles last year. The company said October M&HCV sales were at 9,574 vehicles versus 7,176 vehicles last year. Its LCV sales stood at 2,959 vehicles compared to 2,627 vehicles last year.

PC Jeweller Ltd is currently trading at Rs 497.5, down by Rs 13.55 or 2.65% from its previous closing of Rs 511.05 on the BSE.

Nihar Info Global Ltd advanced 1.6%. The company has received the Purchase Orders from My Home Constructions, Rain Industries and Pamidi RSB Build Tech in the last ten days.

Eicher Motors jumped 3% after the company reported a 33% increase in total sales in October 2016 at 59,127 units as against 44,522 units in the same month last year. During October 2016, the number of motorcycle units exported, increased by 95% to 748 units from 384 units in October 2015.

Strides Shasun Limited gained 1% after the company announced that it has received approval from the United States Food & Drug Administration (USFDA) for Abacavir Tablets USP, 300 mg.

Maruti Suzuki dropped 0.32% to Rs 5,880 after its sales dipped in the month of October. The company sold 1,33,793 units in October compared to 1,34,209 vehicles in October 2015.

BGR Energy Systems soared 5.3% after the company has been awarded the Balance of Plant (BoP) Contract from TANGEDCO for 1×800 MW North Chennai Thermal Power Project – Stage III. BGR Energy secured this contract in an International  competitive bidding which witnessed stiff competition. The value of the contract is Rs 2,600 crore The contract completion period is 36 months from the date of award.

Allcargo Logistics rose 1% to Rs 191 after the company said its board will meet on 7 November 2016, to consider a proposal for buyback of the equity shares of the company.

Sical Logistics gained 2% to Rs 222.10 after the company securing contract from West Bengal Power Distribution Corporation.

Kitex Garments tanked 10.4% to Rs 458 on BSE after net profit fell 52.4% to Rs 12.92 crore on 20.5% decline in net sales to Rs 95.55 crore in Q2 September 2016 over Q2 September 2015.

Bharti Infratel zoomed 2%. KKR and pension giant Canada Pension Plan Investment Board (CPPIB) are in talks with Bharti Airtel to acquire a significant stake in its listed tower arm Bharti Infratel, as per media reports.

Reliance Industries is trading marginally higher on the BSE. The Directorate General of Hydrocarbons is understood to have computed the penalty payable by Reliance Industries (RIL) for exploiting natural gas that migrated to its KG-D6 block from ONGC’s adjacent asset at upwards of $1 bn, as per media reports.

NBCC inched up 1% after the government will engage state-run construction company NBCC to monetise around 771 acre of prime land held by erstwhile VSNL, a company that the government had sold to the Tata group in 2002 as part of its asset-sale programme.

ONGC slipped 1% to Rs 287.  ONGC Videsh Ltd, the overseas arm of state-owned ONGC, has completed the acquisition of additional 11% interest in Russia’s Vankor oilfield, taking its total stake to 26%.

Karnataka Bank is trading lower by 0.57% on the BSE. The bank informed the BSE that the board of directors at its meeting held on Friday finalised the right issue opening and issue closing dates. The issue opens on November 7, and closes on November 21. Last date for request of split application form is November 15.

Ujaas Energy climbed 13.8%. The company reported a net profit of Rs 9.7 crore for the quarter ended September 30 compared with Rs 3.3 crore reported in the year-ago period.

Heritage Foods slipped 2.4%. The company said it would acquire the dairy business of Reliance Retail through a slump sale. The company has executed a binding agreement for the acquisition. The proposed transaction is subject to regulatory approvals and other conditions and procedures that are customary for similar transactions, Heritage Foods said in a BSE filing.

Avanti Feeds gained 2% after the company reported its consolidated net revenue for Q2 of FY17 was 34% higher YoY at Rs 713 crore. However, reported Ebitda fell by 11% YoY to Rs 56 crore and Ebitda margins shrank 397 bps YoY to 7.9%.

The rupee opened higher by seven paise at 66.72/$ as against the previous close of 66.79/$.

Asian markets opened on a weak note following the US indices which closed marginally in the red after very range bound trade. Uncertainty on the US elections which are due next week coupled with rise in bond yields kept sentiment weak. The only exception continues to be Brazil & Russia where the indices continue to tread higher with more money chasing growth as economies see better times ahead. Mutual Funds pumped in net Rs. 8,106 crore, foreign funds pulled out more than Rs. 10,000 crore in October; a bulk of the withdrawals was in debt.

The dollar has weakened. China’s manufacturing sector saw its fastest pace of expansion in recent years as Purchasing Managers’ Index (PMI) moved higher to 51.2 in October.

Crude oil prices, which were subdued for weeks rose marginally on expectations of some consensus among OPEC members in managing production. The email saga may be haunting Clinton but polls suggest she is still ahead in the race for US President. The Bank of Japan maintained status quo on rates. Fed outcome tomorrow will be eyed though nothing much is expected ahead of US presidential elections.

India’s core sectors grew 5% in September driven by strong growth in the steel and petroleum products sectors. The growth in the Index of Eight Core Industries is stronger than the 3.2% rise in August.

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