The Great Eastern Shipping Company (G E Shipping) has signed a contract to sell ‘Jag Padma’, a Medium Range (MR) product tanker. The 1996 built vessel of about 47,172 dwt will be delivered to the buyers in May 2014.
Including ‘Jag Padma’, the Company's current fleet stands at 30 vessels, comprising 22 tankers (8 crude carriers, 13 product carriers, 1 LPG carrier) and 8 dry bulk carriers (1 Capesize, 3 Kamsarmax and 4 Supramax) with an average age of 10 years aggregating 2.42 mn dwt.
Great Eastern Shipping Company is India’s largest private sector shipping company. The company’s major businesses include shipping and offshore.
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Crude oil futures traded higher on MCX after falling in New York in response to data showing rise in stockpiles in the United States, while investors are keeping an eye on the US jobs figures to be released later today.
The contract at for May delivery was trading Rs 6004.00, up by 0.08% or Rs 5.00 from its previous closing of Rs 5999.00. The open interest of the contract stood at 8270.00 lots.The contract for June delivery was trading at Rs 6001.00, up by 0.07% or Rs 4.00 from its previous closing of Rs 5997.00. The open interest of the contract stood at 1204.00 lots on MCX. |
Benchmarks equity indices, halving their early gains, were trading near day’s low level on the back of disappointing macro-economic data that underpinned profit-booking at higher level in afternoon deals. Sentiment took a hit after India’s factory growth showed no sign of improvement last month, as tepid demand restrained output even as price pressures eased. The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit was at 51.3 in April, similar to the March level. This data came right after output growth of eight core industries, which have a weight of 37.9% in the overall Index of Industrial Production (IIP). , slowed down to 2.5% in the month of March from a year earlier. However, positive regional counterparts sustained the upwards momentum of the markets. Off day’s low, while Sensex was trading below the psychological 22,450, Nifty held above the crucial 6700 mark with gains of over one tenth of a percent. Meanwhile, broader indices too, witnessing selling pressure, akin to frontline indices pared half of their gains and were trading with profit of around half a percent.
On the global front, most of the Asian shares were set for positive close on hopes of an upbeat US payrolls report later in the session. The focus of investors, a day after the May Day holiday in Europe except in the United Kingdom, will be on the US non-farm payrolls, which probably advanced by 210,000 jobs in April, up from a gain of 192,000 in March.
Closer home, while stocks from Healthcare, Information Technology and realty counters were holding the benchmark’s neck in green, those from Metal, Capital Goods and Auto counters were restricting the gains of markets. Meanwhile, airline stocks, namely Jet Airways, Spicejet and Global Vectra were trading mixed after ATF prices were slashed by 1% after decline in international rates. The overall market breadth on BSE was in the favour of advances which thumped declines in the ratio of 1145:689; while 28 shares remained unchanged.
The BSE Sensex is currently trading at 22447.98, up by 30.18 points or 0.13% after trading in a range of 22575.62 and 22417.94. There were 16 stocks advancing against 14 stocks declining on the index.
The broader indices too pared gains; the BSE Mid cap index was up by 0.42%, while Small cap index was up by 0.69%.
The gaining sectoral indices on the BSE were Healthcare up by 0.96%, IT up by 0.92%, Teck up by 0.74% Realty up by 0.70%, and Consumer Durables up by 0.52%. While, Metal down by 1.31%, Capital Goods down by 1.18%, Auto down by 0.32% and Power down by 0.04% were the losing indices on BSE.
The top gainers on the Sensex were Tata Power up by 2.50%, Cipla up by 1.39%, Infosys up by 1.22%, HDFC up by 1.05% and DR Reddy’s Lab up by 0.97%. On the flip side, Hindalco Inds down by 2.67%, Tata Steel down by 2.45%, L&T down by 1.74%, M&M down by 1.52% and Maruti Suzuki down by 1.47%.
Meanwhile, marking the second reduction since April, Jet fuel or ATF prices were slashed by 1% on Thursday tracing a decline in international rates. ATF prices were reduced by 4%, or Rs 3,025.34 per kl, on April 1.
According to Indian Oil Corporation (IOC) the nation’s largest fuel retailer, the price of aviation turbine fuel (ATF) in Delhi was lowered by Rs 766.34 per kilolitre, or 1%, to Rs71,033.87 per kl, while in Mumbai it costs Rs 73,306.89 per kl as against Rs74,105.16 per kl previously. Rates vary at different airports because of local sales tax or VAT.
The price cut is expected to reduce the financial burden of the cash-strapped carriers, since Jet fuel comprises about 50% of airline expenditure. Further, this fall has been complemented by the strengthening of rupee against the dollar in the last couple of months. Despite the fall in fuel prices, especially for the fourth quarter of FY 14, it is unlikely that airlines will come out of the red. According to a Center for Asia Pacific Aviation (CAPA) report, Indian airlines, Air India, Jet Airways and Spice Jet, are expected to post a combined loss of $ 1.2 billion (about R7,500 crore) for FY 2014.
The CNX Nifty is currently trading at 6,705.20, up by 8.80 points or 0.13% after trading in a range of 6,737.65 and 6,697.10. There were only 29 stocks advancing against 21 declining on the index.
The top gainers of the Nifty were NMDC up by 2.86%, Tata Power up by 2.50%, Lupin up by 2.40%, BPCL up by 2.17% and Ambuja Cements up by 2.05%. On the flip side, Jindal Steel down by 5.58%, Tata Steel down by 2.53%, Hindalco Inds down by 2.49%, Maruti Suzuki down by 1.75% and SSLT down by 1.70% were the major losers on the index.
Asian equity indices were trading mixed; Jakarta Composite up by 0.24%, Hang Seng added 0.52% and Taiwan Weighted advanced 0.86%. While, Nikkei 225 and Straits Times down by 0.19% and 0.43% respectively were the only losers amongst Asian pack.
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Edelweiss Financial Services is currently trading at Rs. 34.20, up by 0.15 points or 0.44% from its previous closing of Rs. 34.05 on the BSE.
The scrip opened at Rs. 35.30 and has touched a high and low of Rs. 35.30 and Rs. 34.00 respectively. So far 28224 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 37.80 on 25-Apr-2014 and a 52 week low of Rs. 24.90 on 26-Nov-2013.
Last one week high and low of the scrip stood at Rs. 37.80 and Rs. 33.80 respectively. The current market cap of the company is Rs. 2626.33 crore.
The promoters holding in the company stood at 37.15%, while Institutions and Non-Institutions held 22.62 % and 40.23 % respectively.
Edelweiss Financial Services, one of India's leading diversified Financial Services Company has acquired Mumbai based Forefront Capital Management, a high net worth focused Asset Management Company that spans the alternative as well as the traditional investment space. Forefront will be part of the Edelweiss Group and this will further strengthen and diversify Edelweiss's presence in the asset management space.
Forefront currently manages a wide array of investments focused on the absolute return space, from value oriented equity strategies to multi-asset allocation strategies and has developed deep expertise in the full spectrum of India focused asset management - research, advisory, investments and trade execution. Distributed by leading banks, wealth management houses and IFAs, it caters to close to 200 clients across 12 cities that include corporate treasuries, promoters, CXOs, and prominent single family offices
Edelweiss Financial Services (EFSL) is India’s leading diversified financial services company. It is engaged in the business of investment banking, brokerage services, asset management and financing.
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Credit rating agency, CARE has revised rating of Jain Irrigation Systems’ Long-term Bank Facilities worth Rs 1,581.41 crore from BB+ to BBB- and Short-term Bank Facilities worth Rs 583.01 crore from A4+ to A3. The rating agency has also revised rating of company’s Commercial Paper worth Rs 300 crore from A4 to A3.
The revision in the ratings assigned to the bank facilities of Jain Irrigation Systems (JISL) takes into account the various measures taken by the company towards improving the overall working capital management and concomitant improvement in the liquidity profile of the company. The renewed focus on collection and fundamental shift in business model has helped JISL to improve the collection efficiency.
Jain Irrigation Systems is a manufacturer of a wide variety of PVC pipes, PE pipes, water and gas transportation pipes, ducts for optical fibre cables and drip irrigation pipes. It is also engaged in tissue culture of bananas and pomegranates and is the world’s largest processor of mangoes and is the world’s second largest processor of onions and vegetables.
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TEECL is currently trading at Rs. 172.35, up by 2.45 points or 1.44% from its previous closing of Rs. 169.90 on the BSE.
The scrip opened at Rs. 170.00 and has touched a high and low of Rs. 175.00 and Rs. 170.00 respectively. So far 7750 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 187.00 on 29-Apr-2014 and a 52 week low of Rs. 69.00 on 02-Aug-2013.
Last one week high and low of the scrip stood at Rs. 187.00 and Rs. 159.00 respectively. The current market cap of the company is Rs. 995.39 crore.
The promoters holding in the company stood at 59.28%, while Institutions and Non-Institutions held 3.34% and 37.38% respectively.
Techno Electric & Engineering (TEECL), a leading EPC player in the Power Transmission and Distribution Sector, has secured new orders worth over Rs 400 crore. The company has received first order for 765/400 KV Sub-Station Extension package for Solapur, Aurangabad, Kurnool & Raichur and 400 KV Package for Sagardighi and Behrampur Sub-Station Extension from PGCIL for Rs. 125 crore. The company has received second order for 400 KV GIS Sub-station package with associated line at Patran from Patran Transmission Company for Rs. 175 crore. The company has received third order for 220/132/33 KV Grid Sub-Stations at Sonenagar and Samastipur from Bihar State Power Transmission for Rs. 140 crore. TEECL continues to maintain order inflow from PGCIL, NTPC, reputed Utilities and International market in Africa Region.
Techno Electric & Engineering Company, headquartered in Kolkata, is a leading EPC company in the power sector. It provides engineering, procurement and construction services to all the three segments of power sector namely generation, transmission and distribution.
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IDBI Bank is currently trading at Rs. 69.15, up by 0.95 points or 1.39% from its previous closing of Rs. 68.20 on the BSE.
The scrip opened at Rs. 70.25 and has touched a high and low of Rs. 71.75 and Rs. 68.85 respectively. So far 444818 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 92.70 on 20-May-2013 and a 52 week low of Rs. 52.30 on 04-Sep-2013.
Last one week high and low of the scrip stood at Rs. 71.75 and Rs. 66.65 respectively. The current market cap of the company is Rs. 11171.44 crore.
The promoters holding in the company stood at 76.50%, while Institutions and Non-Institutions held 14.07% and 9.43% respectively.
IDBI Bank has posted a fall of 6.53% in its net profit after tax at Rs 518.23 crore for the quarter ended March 31, 2014 as compared to Rs 554.45 crore for the same quarter in the previous year. However, total income of the bank has increased by 4.27% at Rs 7866.52 crore for quarter under review as compared to Rs 7543.78 crore for the quarter ended March 31, 2013.
For the year ended March 31, 2014, the bank has posted fall of 40.41% in its net profit after tax at Rs 1121.40 crore as compared to Rs 1882.08 crore for the same period in the previous year. However, total income of bank has increased by 4.56% at Rs 29576.27 crore for year under review as compared to Rs 28283.81 crore for the period ended March 31, 2013.
For the year ended March 31, 2014, on the consolidated basis, the bank has posted a fall of 39.02% in its net profit after tax at Rs 1151.74 crore as compared to Rs 1888.90 crore for the same period in the previous year. However, total income of bank has increased by 4.61% at Rs 29720.25 crore for year under review as compared to Rs 28409.63 crore for the period ended March 31, 2013.
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HCL Technologies, a leading global IT services company and Cummins Inc., a global power leader, have received the prestigious Outsourcing Excellence Award from the Outsourcing Center for demonstrating a successful partnership of 10-years.
For this award, Outsourcing Center reviewed more than 100 entries, including relationships from Fortune 500 organizations. HCL and Cummins were selected for the Best Long Term Relationship category for tangibly demonstrating a partnership that successfully represents best practices, creates and sustains a competitive advantage, provides business transformation, achieves compelling value, and significantly benefits both buyer and service provider over time.
Since 1997, this award has recognized the world’s most successful outsourcing relationships, and over the last few years has emerged as one of the most renowned awards in the outsourcing industry.
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TVS Motor Company is set to launch new products, including an economy-category motorcycle and a scooter, in the next three months. In this regard, the company has lined-up capital expenditure of around Rs 250 crore. The company is upbeat about FY15 and expects to improve its market share in the two-wheeler industry from 12.5 per cent to 14-14.5 per cent.
Moreover, the company is betting big on the TVS Jupiter and TVS Wego. It may be noted that the company sold about 100,000 units of TVS Jupiter since its launch in September 2013.
TVS Motor Company is the flagship of the $6 billion Indian conglomerate, TVS Group which recently celebrated one hundred years in the automotive business in India. The company recently won 'India's Most Trusted Two Wheeler Brand' Award from the Times Group.
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Tata Power Company is currently trading at Rs. 80.05, up by 2.00 points or 2.56% from its previous closing of Rs. 78.05 on the BSE.
The scrip opened at Rs. 78.90 and has touched a high and low of Rs. 80.40 and Rs. 78.50 respectively. So far 210308 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 92.06 on 02-May-2013 and a 52 week low of Rs. 65.86 on 06-Aug-2013.
Last one week high and low of the scrip stood at Rs. 84.60 and Rs. 77.40 respectively. The current market cap of the company is Rs. 21609.96 crore.
The promoters holding in the company stood at 32.47%, while Institutions and Non-Institutions held 48.24% and 19.10% respectively.
Tata Power, one of India’s largest integrated power companies, is planning to increase generation capacity to 646.7 MW from green energy sources by executing projects which are in advance stages. The company has a gross installed capacity of 912 MW from clean energy sources of which 447 MW comes from hydropower, and 465 MW comes from renewable sources of energy, namely, wind and solar power.
The company’s clean energy projects comprise of hydro power projects in Maharashtra with gross installed capacity of 447MW; wind farms in Maharashtra, Gujarat, Karnataka, Tamil Nadu and Rajasthan, with gross installed capacity of 437MW and solar projects in Maharashtra, Gujarat and Delhi, with gross installed capacity of 28MW.
Tata Power is India's largest integrated power company with a significant international presence. The Company has an installed generation capacity of 8521 MW in India and a presence in all the segments of the power sector viz. Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
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| Potato futures traded higher on MCX as traders created fresh positions on the back of rising demand in the spot market. Limited stocks position in the physical market on the back of restricted arrivals from producing belts in Uttar Pradesh, Punjab and West Bengal also influenced the commodity price in future trade. The contract for May delivery was trading at Rs 1380.20, up by 0.81% or Rs 11.10 from its previous closing of Rs 1369.10. The open interest of the contract stood at 1157.00 lots. The contract for June delivery was trading at Rs 1470.00, up by 0.87% or Rs 12.70 from its previous closing of Rs 1457.30. The open interest of the contract stood at 2042.00 lots on MCX. |
| Turmeric futures edged lower on NCDEX as speculators booked profits at prevailing higher levels, driven by weak demand in the spot market. Besides, adequate stock position in the spot market along with higher arrivals in the physical markets also dampened the sentiments. The contract for May delivery was trading at Rs 6684.00, down by 0.77% or Rs 52.00 from its previous closing of Rs 6736.00. The open interest of the contract stood at 9355.00 lots. The contract for June delivery was trading at Rs 6834.00, down by 0.67% or Rs 46.00 from its previous closing of Rs 6880.00. The open interest of the contract stood at 6925.00 lots on NCDEX. |
ICICI Bank is currently trading at Rs. 1258.95, up by 14.15 points or 1.14% from its previous closing of Rs. 1244.80 on the BSE.
The scrip opened at Rs. 1252.00 and has touched a high and low of Rs. 1264.00 and Rs. 1250.00 respectively. So far 46,110 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1317.85 on 25-Apr-2014 and a 52 week low of Rs. 758.80 on 28-Aug-2013.
Last one week high and low of the scrip stood at Rs. 1317.85 and Rs. 1235.00 respectively. The current market cap of the company is Rs. 1,45,382.00 crore.
The Institutions and Non-Institutions held 63.07% and 7.77% respectively. ICICI Bank has inaugurated a new branch at Ashok Nagar in Chennai, becoming the first private sector bank to have 100 branches in the city. The bank had marked its foray into retail banking in 1994 by opening a branch in Chennai, at Cenotaph Road in Teynampet.
The new branch situated at No.18 A, Ashok Enclave, First Avenue, Ashok Nagar will remain open for customers from 9:00 am to 6:00 pm on Monday to Friday and 9.00 am to 2.00 pm on Saturday. The branch has an extensive wealth management lounge serviced by a dedicated team of wealth managers to cater to the needs of high net worth customers. It will offer the entire gamut of ICICI Bank products including a comprehensive range of deposits, loans, NRI services and offer locker facility.
ICICI Bank has 3753 branches and extension counters and 11,315 ATMs spread across the country. In FY 2013-14, the Bank added 653 branches and 834 ATMs to its network. It also has a widespread network of 392 branches and 1184 ATMs in Tamil Nadu. The Bank services its large customer base through a multi-channel delivery network of branches, ATMs, call center and internet banking.
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Western India Shipyard has secured two prestigious repair orders from its esteemed clients namely, Coast Guard Vessel ICGS Sangram and M.T. Hansa Prem of Mercator Lines, for major repairs. The company has 4 vessels undergoing extensive repairs in its shipyard namely, M. V. Quing of Sahara Shipping, M. V. Casino Royal of Deltin Group; Caravel Pride of Caraval Logistics and Crane Barge S. C. Mallinath. The scope of repairs includes surface protection, steel renewal, deck equipment, and other civil, electrical, mechanical and navigational equipment jobs. The company has received a new vessel from Timblo Dry docks for outfitting of crew accommodation. The approximate value of the repairs is about Rs 10.25 crore.
Western India Shipyard offers services such as routine maintenance and damage repairs, cargo hold/tank space blasting and coating, main engine overhauls, rudder, propeller and tail shaft repairs, and cargo gear overhaul and repairs.
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Bharti Airtel has launched 4G data services on mobiles in the cities of Chandigarh, Mohali and Panchkula under the Punjab circle. Earlier, company had launched 4G data services via dongles in the three cities. The company has joined Bengaluru as cities with such services, which offer high speed internet, on mobiles. While data browsing will be on the 4G network using TD-LTE technology, or on the 2300 Mhz band, voice calls will be routed on the 2G network seamlessly with the circuit switch fall back technology.
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
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Coriander future traded modestly higher on NCDEX, as speculators created fresh positions tracking a firm trend at spot market on pick-up in demand. The trading sentiment improved further following limited stocks on restricted arrivals from major growing belts.
The contract for May delivery was trading at Rs 9406.00, up by 0.30% or Rs 28.00 from its previous closing of Rs 9378.00. The open interest of the contract stood at 27570.00 lots.
The contract for June delivery was trading at Rs 9635.00, up by 0.18% or Rs 17.00 from its previous closing of Rs 9618.00. The open interest of the contract stood at 36380.00 lots on NCDEX.
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TVS Motor Company has recorded 15% increase in total sales registering 1,90,683 units in the month of April 2014 against 1,65,214 units recorded in the month of April 2013. The company's total exports grew by 41% with sales increasing from 21,714 units in the month of April 2013 to 30,650 units in April 2014.
The total two wheeler sales increased by 14% from 160,502 units recorded in April 2013 to 183,179 units in April 2014. Domestic two wheeler sales registered a growth of 11% increasing from 142,794 units in April 2013 to 158,907 units in April 2014.
Scooters sales grew by 55% increasing from 29,692 units in April 2013 to 46,069 units in April 2014. Motorcycles sales grew by 9% increasing from 67,849 units in the month of April 2013 to 73,636 units in April 2014. Further, three wheeler sales of the company registered an increase of 59%, growing from 4,712 units in April 2013 to 7,504 units in April 2014.
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Chana futures traded down on NCDEX, as speculators reduced their holdings on ample stocks position in the physical market due to large supplies from the new season crop in Madhya Pradesh state. Further, sluggish demand in the spot market too was putting pressure on chana prices.
The contract for May delivery was trading at Rs 3050.00, down by 0.52% or Rs 16.00 from its previous closing of Rs 3066.00. The open interest of the contract stood at 77600 lots.
The contract for June delivery was trading at Rs 3113.00, down by 0.64% or Rs 20.00 from its previous closing of Rs 3133.00. The open interest of the contract stood at 84350 lots on NCDEX.
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Atul Auto has registered 6.80% growth in its April 2014 sales. The company has sold 2,403 units in the month against 2,250 units sold in April 2013. The company had registered 6.07% growth in its March 2014 sales. The company had sold 3,214 units in the month against 3,030 units sold in March 2013.
Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.
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Godawari Power and Ispat has started mine development activities with gradual extraction of iron ore from its Boria Tibu Iron Ore Mines located at village Boria Tibbu, Dist Rajnandgaon in Chhattisgarh. The mine development activities are expected to be completed within a period of 6 months.
The annual rated capacity of aforesaid Iron Ore Mines upon completion of mine development activities will be 7,05,000 Metric Ton Per Annum as per approved Mining Plan.
Godawari Power and Ispat is engaged in the production of sponge iron, steel billets, ferro alloys, HB wires, oxygen, fly ash bricks and is also in the power business. GPIL is a flagship company of Raipur-based Hira Group of Industries, which is an integrated steel manufacturer and is having dominant presence in the long product segment of the steel industry; mainly into mild steel wire.
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GMR Infrastructure has received an amount of Rs 1,740 crore amounting euro 209 million, as culmination of divestment of its 40% equity stake in Istanbul Sabiha Gökçen Uluslararasi Havalimanı Yatırım, Yapım Ve İşletme A.Ş (ISG) and LGM Havalimanı İşletmeleri Ticaret Ve Turizm A.Ş (LGM Tourism) to Malaysian Airports Holding Berhard (MAHB), for a final amount of Rs 1,740 crore in terms of definitive agreements signed subsequent to the exercise of Right of First Refusal by MAHB under the existing shareholders agreement of ISG, on December 23, 2013.
This is the second major divestment of overseas assets by the GMR Group in over a year. This divestment helps the group in capitalizing on equity release of Rs 1,740 crore, in addition to reducing the proportionate debt of Rs 1,412 crore amounting euro 169.55 million carried in the balance sheet as well as guarantees to an extent of Rs 2,298 crore amounting euro 276.03 million.
GMR Infrastructure is a Bangalore headquartered global infrastructure major with interests in Airports, Energy, Highways and Urban Infrastructure sectors. It has successfully employed the public-private partnership model to build a portfolio of high quality assets.
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Indian Oil Corporation (IOC) is currently trading at Rs. 264.65, up by 2.00 points or 0.76% from its previous closing of Rs. 262.65 on the BSE.
The scrip opened at Rs. 265.00 and has touched a high and low of Rs. 267.15 and Rs. 264.00 respectively. So far 7556 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 320.45 on 16-May-2013 and a 52 week low of Rs. 186.20 on 31-Jul-2013.
Last one week high and low of the scrip stood at Rs. 273.50 and Rs. 258.80 respectively. The current market cap of the company is Rs. 64826.33 crore.
The promoters holding in the company stood at 68.57%, while Institutions and Non-Institutions held 6.97% and 24.46% respectively.
IOC has inked agreement with National Security Guard (NSG) for supply of fuels and lubricants. The State-owned company will cater to all fuel requirements of NSG. IOC has always been a trusted partner and that NSG could bank upon the company for meeting their various fuel requirements.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
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Indian equity benchmarks, after witnessing four consecutive sessions of drubbing, have made a decent start and are trading in fine fettle in early deals on Friday, on the back of strength in the financial space. However, gains remained capped to certain extent on account of weak core sector data. The index of eight core industries slowed to 2.5 per cent in March from 7 percent recorded in the same month a year ago, as output of crude oil, natural gas and fertiliser declined. Auto companies too have came up with disappointing sales data for the month of April and were weighing on the sentiments of the marketmen.
On the global front, the US markets made mostly negative closing in last session and traders opted to remain on sidelines ahead of the release of April’s jobs report on Friday, overlooking a positive batch of economic indicators. Asian markets too were trading mostly in the red at this point of time, as investors awaiting the US payrolls report and while China’s markets are closed, others remained subdued.
Back home, on the sectoral front, banking, healthcare and realty witnessed the maximum gain in trade, while capital goods and auto remained the only losers on the BSE sectoral space. The broader indices too were trading with traction in early deals, while the market breadth on the BSE was positive; there were 1,065 shares on the gaining side against 449 shares on the losing side while 72 shares remain unchanged.
The market breadth on BSE remains positive with advances to declines in the ratio of 1032:429. BSE Sensex and NSE Nifty were trading near their psychological 22,500 and 6,700 levels respectively.
The BSE Sensex is currently trading at 22500.40, up by 82.60 points or 0.37% after trading in a range of 22575.62 and 22488.62.There were 17 stocks advancing against 13 declines on the index. The broader indices were trading in green; the BSE Mid cap index was up by 0.79% and Small cap index up by 1.04%.
The top gaining sectoral indices on the BSE were, Bankex up by 0.91%, PSU up by 0.81%, Health Care up by 0.79%, Consumer Durables up by 0.75% and Realty up by 0.65%, while Capital Goods down by 0.05% and Auto down by 0.04% were the losers on the sectoral index.
The top gainers on the Sensex were Hero MotoCorp up by 1.28%, ICICI Bank up by 1.22%, Dr Reddys Lab up by 1.11%, HDFC up by 1.02% and Tata Power up by 1.02%. On the flip side, Mahindra & Mahindra was down by 1.62%, Maruti Suzuki was down by 0.99%, Gail India was down by 0.92%, Hindalco Inds was down by 0.85% and L&T was down by 0.66% were the top losers on the Sensex.
Meanwhile, as monsoon rainfall is likely to be weak this year, the agriculture ministry is making unprecedented preparations to make sure that food production will not badly hit by the weather. At Present, chief officials of the Agriculture Ministry are on state tours and are consulting with farmers on drought preparedness. However, in the previous year, agriculture ministry did not take any action even after the month of June went without rain. The Ministry is working hard to counter impact of weak monsoon rains amid concerns that inflation may remain sticky in the current financial year as a possible El Nino effect on the monsoon is likely to push up food prices and geopolitical uncertainties are also expected to pump up global commodity rates.
The Agriculture Ministry has also planned to suggest farmers to use of seeds that are less water intensive as well as contingency plans. Agriculture Commissioner JS Sandhu has asserted that Ministry’s plan include recommending short-duration crops in some regions and planting of Basmati, which needs lesser water than regular grades of rice. Further, he added that states will be recommended to coordinate with different departments like irrigation and power to ensure supply of canal water and electricity.
Over the past four months, retail prices of pulses and rice have already risen 10% to 27% from a year earlier due to unseasonal rain and hailstorms. On commodity wise, prices of urad dal has increased from Rs 41,000 per tonne to Rs 45,000 per tonne in last four months, while prices of yellow peas have gone up to Rs 30,000 per tonne from Rs 26,500 per tonne.
The CNX Nifty is currently trading at 6,725.55 up by 29.15 points or 0.44% after trading in a range of 6,737.65 and 6,709.95. There were 37 stocks advancing against 13 declines on the index.
The top gainers of the Nifty were NMDC up by 3.06%, Asian Paint up by 2.28%, BPCL up by 1.91%, PNB up by 1.45% and ICICI Bank up by 1.37%. On the flip side, M&M down by 1.75%, Cairn down by 1.58%, Jindal Steel down by 1.33%, Maruti down by 1.14% and GAIL down by 1.09% were the top losers on the index.
Asian equity indices were traded in mixed; Shanghai Composite increased by 0.30%, Jakarta Composite was up by 0.29%, Hang Seng was up by 0.53% and Taiwan Weighted was up by 0.82%.On the flip side, KLSE Composite decreased 0.10%, Nikkei 225 was down by 0.38%, Straits Times was down by 0.37% and KOSPI slipped by 0.21%.
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Asian equity indices are exhibiting mixed trade in early deals on Friday, with investors treading cautiously ahead of the release of crucial US monthly non-farm payrolls data later in the day. The overnight mixed close on Wall Street too was preventing investors from indulging in significant moves. The Japanese market dropped with investors indulging in some profit taking. The mood was somewhat cautious with investors digesting a slew of Japanese economic data and a late profit warning from Sony overnight. On the economic front, the unemployment rate in Japan was a seasonally adjusted 3.6% in March that was in line with expectations and unchanged from the previous month. Among other markets in the Asia-Pacific region, Singapore, Malaysia and South Korea are trading weak. Hong Kong, Indonesia and Taiwan are trading higher.
KLSE Composite declined 2.46 points or 0.13% to 1,869.06, Nikkei 225 tumbled by 63.31 points or 0.44% to 14,421.82, Straits Times slipped 14.98 points or 0.46% to 3,249.73 and Seoul Composite was down by 4.52 points or 0.23% to 1,957.27.On the flip side, Hang Seng surged by 119.34 points or 0.54% to 22,253.31, Jakarta Composite was up by 17.17 points or 0.35% to 4,857.32 and Taiwan Weighted was ugained 73.02 points or 0.83% to 8,864.46.
Shanghai market remained shut for the trade today for Labour Day Holiday.
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Wipro, a leading global Information Technology, Consulting and Outsourcing company is increasing its commitment to the South African market with the launch of a new 100-seater Learning Centre in Johannesburg, South Africa. The facility has classroom and presentation rooms, with the required infrastructure to enable Wipro to run internship programs on different technologies, simultaneously.
Wipro enables customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk management.
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Indian Oil Corporation (IOC) has inked agreement with National Security Guard (NSG) for supply of fuels and lubricants. The State-owned company will cater to all fuel requirements of NSG. IOC has always been a trusted partner and that NSG could bank upon the company for meeting their various fuel requirements.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.
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Hero MotoCorp is currently trading at Rs. 2212.10, up by 18.25 points or 0.83% from its previous closing of Rs. 2193.85 on the BSE.
The scrip opened at Rs. 2205.00 and has touched a high and low of Rs. 2222.00 and Rs. 2205.00 respectively. So far 3715 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2320.00 on 07-Apr-2014 and a 52 week low of Rs. 1565.95 on 25-Jun-2013.
Last one week high and low of the scrip stood at Rs. 2265.40 and Rs. 2141.00 respectively. The current market cap of the company is Rs. 44330.63 crore.
The promoters holding in the company stood at 39.92%, while Institutions and Non-Institutions held 38.83% and 21.25% respectively.
Hero MotoCorp, the country’s largest two-wheeler maker has reported a 14.41% increase in its total sales at 5,71,054 units in April 2014, as compared to 4,99,113 units sold in the same month last year.
The sales of over 5.71 lakh units in April is the result of a series of initiatives that the company has undertaken in the past few months, including new launches, customer-friendly initiatives and brand building activities.
Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
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Bata India has reported results for the first quarter ended March 31, 2014
The company has posted a rise of 2.44% in its net profit at Rs 39.40 crore for the quarter ended March 31, 2013 as compared to Rs 38.46 crore for the same quarter in the previous year. Total income of the company has increased by 9.10% at Rs 502.77 crore for quarter under review as compared to Rs 460.81 crore for the quarter ended March 31, 2013.
Bata India is the largest retailer and leading manufacturer of footwear in India and is a part of the Bata Shoe Organization. The company manufactures footwear for men, women and children. The company manufactures shoes of various quality such as leather, rubber, canvas and PVC shoes.
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Dena Bank, a public sector lender has re-launched its term deposit product ‘DENA - 444’ with maturity tenor of 444 days for its retail customers. The scheme will be open for a limited period from May 1, 2014 to June 30, 2014, a window of 60 days.
The scheme offers interest rate of 9.15% per annum to General Public. Senior citizens will be offered an interest rate of 9.65%. The scheme would be available both on cumulative basis (Interest compounded on quarterly basis) and non-cumulative basis at all branches of the bank.
Dena Bank has reported 67.16% fall in its net profit at Rs 67.80 crore for third quarter ended December 31, 2013 as compared to Rs 206.44 crore for the same quarter in the previous year. However, total income of the bank has increased by 10.56% at Rs 2662.80 crore for quarter under review as compared to Rs 2408.42 crore for the quarter ended December 31, 2012.
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| Bajaj Auto is currently trading at Rs 1925.00, up by 11.55 points or 0.60% from its previous closing of Rs. 1913.45 on the BSE. The scrip opened at Rs. 1915.00 and has touched a high and low of Rs. 1927.90 and Rs. 1913.00 respectively. So far 2754 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 2193.85 on 17-Oct-2013 and a 52 week low of Rs. 1683.35 on 28-Aug-2013. Last one week high and low of the scrip stood at Rs 2002.00 and Rs 1902.00 respectively. The current market cap of the company is Rs 55703.15 crore. The promoters holding in the company stood at 50.02%, while Institutions and Non-Institutions held 25.68% and 24.30% respectively. Bajaj Auto, the second-largest motorcycle manufacturer has registered a 4% drop in total sales to 331,529 units in April 2014 against 344,178 units in April 2013. The sales of the motorcycles decreased by 0.39% and stood at 299,636 units in the month under review against 300,827 units in April 2013. The company has reported a 26% drop in Commercial Vehicles sales which stood at 31,893 units as compared to 43,351 units in month of April 2013. Meanwhile, the company’s total exports out of the above stood at 150,714 units, an increase of 16% as compared to 130,329 units sold in the corresponding month last year. Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal. |
Hero MotoCorp, the country’s largest two-wheeler maker has reported a 14.41% increase in its total sales at 5,71,054 units in April 2014, as compared to 4,99,113 units sold in the same month last year.
The sales of over 5.71 lakh units in April is the result of a series of initiatives that the company has undertaken in the past few months, including new launches, customer-friendly initiatives and brand building activities.
Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
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Hero MotoCorp, the country’s largest two-wheeler maker has reported a 14.41% increase in its total sales at 5,71,054 units in April 2014, as compared to 4,99,113 units sold in the same month last year.
The sales of over 5.71 lakh units in April is the result of a series of initiatives that the company has undertaken in the past few months, including new launches, customer-friendly initiatives and brand building activities.
Hero MotoCorp is the World’s single largest two-wheeler motorcycle company. Honda Motor Company of Japan and the Hero Group entered a joint venture to setup Hero Honda Motors in 1984. Hero Honda Motors changed its name to Hero MotoCorp following the exit of its erstwhile Japanese promoter, Honda, from the company.
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Country’s largest car maker Maruti Suzuki India (MSI) reported 11.4% fall in total sales at 86,196 units in April 2014, against 97,302 units in the same month last year.
The company’s domestic sales declined 12.60% during the month to 79,119 units, as against 90,523 units in April, 2013. However, export sales increased 4.4% during the month to 7,077 units as against 6,779 units in April 2013.
Sales of compact cars were up 9.90% during the month at 23,659 units as against 21,535 units in the same month last year, while van sales decreased 4.30% to 8,322 units in April as against 8,696 units. Moreover, sales of compact sedan Dzire declined by 17.70% at 16,008 units last month, as compared with 19,446 units in April 2013.
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Kotak Mutual Fund has launched the New Fund Offer (NFO) of Kotak FMP Series 160 (1039 Days), a close ended income scheme. The NFO opens for subscription on May 02, 2014 and closes on May 07, 2014. No entry load or exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000.
The scheme’s performance will be benchmarked against CRISIL Short Term Bond Fund Index and its fund managers are Mayank Prakash and Abhishek Bisen.
The investment objective of the scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. The Scheme will invest in debt and money market securities, maturing on or before maturity of the scheme.
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Copper futures declined on Thursday after the manufacturing expanded less than estimated in the world’s top consumer China. Data showed that China’s official manufacturing purchasing managers’ index inched up to 50.4 in April, just below an expectation of 50.5, however higher than the 50.3 reported last month. The commodity weakened further after the Federal Reserve decided to taper its monthly bond-buying program by $10 billion for the fourth consecutive meeting.
Copper futures for July delivery fell 0.2% to settle at $3.215 a pound on the Comex metals division of New York Mercantile Exchange. While, copper on the London Metal Exchange closed up 0.05% at $6,645 a metric ton.
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ICICI Bank has inaugurated a new branch at Ashok Nagar in Chennai, becoming the first private sector bank to have 100 branches in the city. The bank had marked its foray into retail banking in 1994 by opening a branch in Chennai, at Cenotaph Road in Teynampet.
The new branch situated at No.18 A, Ashok Enclave, First Avenue, Ashok Nagar will remain open for customers from 9:00 am to 6:00 pm on Monday to Friday and 9.00 am to 2.00 pm on Saturday. The branch has an extensive wealth management lounge serviced by a dedicated team of wealth managers to cater to the needs of high net worth customers. It will offer the entire gamut of ICICI Bank products including a comprehensive range of deposits, loans, NRI services and offer locker facility.
ICICI Bank has 3753 branches and extension counters and 11,315 ATMs spread across the country. In FY 2013-14, the Bank added 653 branches and 834 ATMs to its network. It also has a widespread network of 392 branches and 1184 ATMs in Tamil Nadu. The Bank services its large customer base through a multi-channel delivery network of branches, ATMs, call center and internet banking.
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Piramal Enterprises has agreed to acquire 65,79,840 equity shares in Shriram City Union Finance (SCUFL), representing 9.99% of the post-diluted equity share capital of SCUFL, by way of subscription to fresh shares pursuant to a preferential allotment by SCUFL.
The company had recently agreed to acquire an effective 20% equity stake in Shriram Capital, a financial services company, for an aggregate consideration of Rs 2,014 crore. Shriram Capital (SCL) is the overarching holding company for the financial services and insurance entities of the Shriram Group, created with the primary objective of optimizing the synergies across the group’s entities.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
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Piramal Enterprises has agreed to acquire 65,79,840 equity shares in Shriram City Union Finance (SCUFL), representing 9.99% of the post-diluted equity share capital of SCUFL, by way of subscription to fresh shares pursuant to a preferential allotment by SCUFL.
The company had recently agreed to acquire an effective 20% equity stake in Shriram Capital, a financial services company, for an aggregate consideration of Rs 2,014 crore. Shriram Capital (SCL) is the overarching holding company for the financial services and insurance entities of the Shriram Group, created with the primary objective of optimizing the synergies across the group’s entities.
Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
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Clariant Chemicals (India) has executed the business transfer agreement, and transferred the business of leather services as a going concern on slump sale basis to Stahl India for a lump-sum consideration of Rs 156 crore effective from May 01, 2014.
Recently, Clariant entered into an agreement to sell its land located in Kolshet, Thane aggregating to about 87 acres to Ishwer Realty and Technologies, a subsidiary of Lodha Developers for an aggregate consideration of Rs 1,154.25 crore.
Clariant Chemicals (India) represents a valuable repository of manufacturing and marketing experience. Its constituents were all well respected companies who played an invaluable role in the development of the textiles, leather, paints, plastics, printing inks and agrochemicals industries in India.
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Bajaj Auto, the second-largest motorcycle manufacturer has registered a 4% drop in total sales to 331,529 units in April 2014 against 344,178 units in April 2013. The sales of the motorcycles decreased by 0.39% and stood at 299,636 units in the month under review against 300,827 units in April 2013. The company has reported a 26% drop in Commercial Vehicles sales which stood at 31,893 units as compared to 43,351 units in month of April 2013.
Meanwhile, the company’s total exports out of the above stood at 150,714 units, an increase of 16% as compared to 130,329 units sold in the corresponding month last year.
Bajaj Auto is a $2.3 billion company founded in 1926. It is world’s fourth largest two and three-wheeler manufacturer. Bajaj Auto has three plants in all, two at Waluj and Chakan in Maharashtra and one plant at Pant Nagar in Uttaranchal.
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Mahindra & Mahindra (M&M), India's leading SUV manufacturer, has reported its auto sales numbers which stood at 36,274 units during April, 2014. The Passenger Vehicles segment sold 18,148 units in April, 2014, as against 20,748 units during April 2013.
The company’s domestic sales stood at 34,107 units during April 2014, as against 39,902 units during April 2013. The 4-wheelers commercial segment has sold 11,677 units, while the 3-wheelers segment clocked 3,532 units in April 2014. Exports for the month stood at 2,167 units, a growth of 42%.
Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
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Marico is currently trading at Rs. 209.80, up by 6.15 points or 3.02% from its previous closing of Rs. 203.65 on the BSE.
The scrip opened at Rs. 207.75 and has touched a high and low of Rs. 212.85 and Rs. 207.75 respectively. So far 4,943 shares were traded on the counter.
The BSE group 'A' stock of face value Re 1 has touched a 52 week high of Rs. 248.09 on 31-May-2013 and a 52 week low of Rs. 188.21 on 25-Jun-2013.
Last one week high and low of the scrip stood at Rs. 212.85 and Rs. 200.10 respectively. The current market cap of the company is Rs. 13,671.00 crore.
The promoters holding in the company stood at 59.69%, while Institutions and Non-Institutions held 33.48% and 6.83% respectively.
The company has posted a rise of 60.14% in its net profit at Rs 177.12 crore for the quarter ended March 31, 2014 as compared to Rs 110.60 crore for the same quarter in the previous year. Total income of the company increased by 31.03% at Rs 969.53 crore for quarter under review as compared to Rs 739.92 crore for the quarter ended March 31, 2013.
On consolidated basis, the company has reported 5.85% rise in its net profit at Rs 88.77 crore for the quarter ended March 31, 2014 as compared to Rs 83.86 crore for the same quarter in the previous year. Total income of the company went up by 7.55% at Rs 1084.89 crore for quarter under review as compared to Rs 1008.75 crore for the quarter ended March 31, 2013.
For the year ended March 31, 2014, the company has posted a jump of 34.52% in its net profit at Rs 577.20 crore as compared to Rs 429.08 crore for the same period in the previous year. Total income of company improved by 13.29% at Rs 3916.86 crore for year under review as compared to Rs 3457.29 crore for the period ended March 31, 2013.
For the year ended March 31, 2014, on the consolidated basis, the company has posted a rise of 22.61% in its net profit at Rs 485.38 crore as compared to Rs 395.86 crore for the same period in the previous year. Total income of company has increased by 2.39% at Rs 4744.41 crore for year under review as compared to Rs 4633.71 crore for the period ended March 31, 2013.
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The Indian markets continued their southbound journey and ended with modest cuts in last session, before going for a holiday. Today, the start is likely to remain soft with traders reacting to the weak core sector data. The index of eight core industries slowed to 2.5 per cent in March from 7 percent recorded in the same month a year ago, as output of crude oil, natural gas and fertiliser declined. Auto companies too have came up with disappointing sales data for the month of April and will weigh on the sentiments of the marketmen. Also, Rating agency, ICRA in its latest report expects an extended pause on Reserve Bank of India's policy rates, with monetary easing getting stretched until at least early-2015. It has stated that it may dampen any early revival in the other sectors of the economy as well and the sticky rates would limit improvements in consumption demand. However, the ailing aviation stocks may get some relief, as the Aviation Turbine Fuel (ATF) prices were slashed by about 1%. This is the second reduction in the ATF, since the beginning of the year, after a 4% reduction in April.
There will be lots of important result announcements to keep the markets buzzing. 3I Infotech, Godrej Properties, Grasim Inds, Heidelberg Cement, HCC, Pfizer, Reliance Comm, Reliance Cap etc. are the important companies to announce their numbers today.
The US markets made mostly negative closing in last session and traders opted to remain on sidelines ahead of the release of April's jobs report on Friday, overlooking a positive batch of economic indicators. Also, as the Fed continued its tapering and kept the rates unchanged. The Asian markets have made a mixed start and some of the indices are trading in red waiting for the US payrolls report and while China’s markets are closed, others remained subdued.
Back home, Indian equity benchmarks extended their southward journey for fourth consecutive session and ended the volatile day of trade slightly in the red. Domestic bourses kick-started the session on a strong note but were unable to hold the gains, as investors booked profit at higher levels. Though, some recovery was witnessed in dying hour of trade but proved too little to bring back markets into the green. Earlier, markets made a gap-up start on the back of strong global set-up. Some support came with an Assocham CEO survey of which around 50 per cent of Indian CEOs said they are optimistic about the Indian economy, and expect it to be stronger in the next six months. Sentiments also got boost after World Bank’s report highlighted that India has replaced Japan to become the world's third biggest economy in terms of purchasing power parity (PPP). The World Bank's International Comparison Program (ICP) 2014 reported India's share in World GDP at 6.4% to $5.75 trillion in 2011 compared with China's at 14.9% and the US at 17.1%. Appreciation in Indian rupee too supported the sentiments with rupee rising to its highest in more than a week on heavy dollar selling by exporters and corporates. Supportive cues from US and Asian markets too provided some support to local bourses, however, disappointing cues from European market took their toll on domestic sentiments in late trade. Back home, sentiments also remained dampened due to both, domestic poll-related and global geo-political worries. Meanwhile, selling was witnessed in metal stocks on reports the Chinese Academy of Social Sciences (CASS), one of Beijing’s top government think tanks, has revised its 2014 GDP growth forecast down to 7.4%, below the official 7.5% target, and said that growth could slow to as low as 7%. Stocks related to telecom sector too tumbled during the trade, led by Bharti Airtel which fell over 2% fall despite reporting 89% year-on-year jump in consolidated net profit at Rs 962 crore for the fourth quarter ended March 31, 2014 (Q4), backed by strong growth in voice and data revenues. Additionally, shares of real estate companies succumbed to selling pressure, tumbling by up to 11% in late noon deals. Finally, the BSE Sensex declined by 48.39 points or 0.22%, to 22417.80, while the CNX Nifty was down by 18.85 points or 0.28% to 6,696.40. Indian markets remained closed on Thursday on account of a local holiday.
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