Global cues are not really encouraging. The indices will look at minimizing any further damage unless the weather forecast takes a toll on the market.
The first monsoon forecast by the India Meteorological Department (IMD) on Wednesday is keenly awaited. Fears of El Nino causing atmospheric changes leading to poor monsoon have been around for a while. Unseasonal rains have increased the attention these forecasts command. The recent correction of course may provide better opportunities in the coming days. Sell in May and go away will not be the case if market corrects like this in April.
The outlook is a flat start. Global cues are not really encouraging. The indices will look at minimizing any further damage unless the weather forecast takes a toll on the market. Yes Bank and Mastek results will be eyed. Attention will be on stocks like Sun Pharma again which shed over 9% on Tuesday after Daiichi sold its stake at a discount. While different interpretations are doing the round, Daiichi’s decision to exit Sun may be driven by its philosophy to not stay in a deal where it is a minority holder, says one.
FY15 is turning out to be the worst year in last decade, in terms of PAT growth. Revenue growth, Ebitda and PAT margins have hit decadal lows. While growth slowed down across the board, energy companies singularly pulled down the growth. Investors will do well to stay overweight on private financials, consumer discretionary, industrials, cement, and IT since we there appears maximum potential for earnings upgrades in these sectors over the next 1-2 years.
Hedge funds returned US$54.1 billion in performance-based gains for the first quarter of 2015; their highest Q1 gains on record since 2006 which brings the total industry AUM to a record high of nearly US$2.2 trillion.
Wipro stock will be in action after the company reported net profit at Rs. 2142 crore for Q4.Total Revenues were Rs. 121.4 bn ($1.9 billion), an increase of 4% YoY.
Moody's Investors Service says that Reliance Industries Limited's (RIL, LC: Baa2 positive, FC: Baa2 stable) EBITDA increased by 8% during the quarter ended 31 March 2015 (QE3/2015 or Q4), because of the improved performance of its refining segment, and despite revenues falling by 26%.Moody's points out that revenues fell, due to the slide in crude oil prices. Crude prices have fallen by more than 50% since June 2014.
Government will auction 69 marginal oil and gas fields owned by Oil and Natural Gas Corp and Oil India Ltd, oil secretary reportedly said."Marginal field policy will have approval soon for 69 fields which ONGC and Oil India have agreed to give" Saurabh Chandra reportedly said.
Most CEOs expect positive business conditions and accelerating technology innovation in 2015, according to a recent survey by Gartner, Inc. The 2015 Gartner CEO and senior business executive survey found that growth remains a top priority and technology-related change is viewed as the primary tool to achieve that growth in 2015 and 2016.
Shares of real-estate companies rallied after the Maharashtra government scrapped the controversial Mumbai Development Plan 2034, which had several omissions and flaws.
Wipro Ltd has announced that Rishad Azim Premji is appointed as Whole-time Director of the Company with effect from May 01, 2015. V Ramachandran, Company Secretary has resigned from the services of the Company with effect from close of business hours of April 22, 2015.
HDIL was the biggest percentage gainer, up 3.7 percent at Rs. 122. Oberoi Realty also rallied 3.5 percent to Rs. 293, and Sobha jumped 2.5 percent to Rs. 419. Prestige Estates added 1.5 percent to Rs. 263.
Ramco Systems ended 4% lower at Rs. 633 after the company 45.7 percent drop in Q4FY15 consolidated net profit at Rs. 4.35 crore as against Rs. 8.02 crore in a year ago period.
HOV Services was locked at the 20% lower circuit at Rs. 120, after a purchaser revoked its decision to buy HOV Services investment through its US-based subsidiary - HOVS LLC.
Lanco Infratech zoomed 10.5% to Rs. 5.85 on announcing completion of Udupi power plant sale to Adani Power for an enterprise value of Rs. 6,300 crore - the largest deal in the thermal power space.
Claris Lifesciences ended 1% up at Rs. 277 after it has received the Supplemental Abbreviated New Drug Application (ANDA) approval for Fluconazole Injection in the United States of America (US).
HCL Technologies ended 3% lower at Rs. 391 after the company reported poor Q3 FY15 results. The company has reported a drop of more than 12 percent in consolidated Q3 net profit at Rs. 1,683 crore on q-o-q basis.
Lanco Infratech zoomed nearly 10% to touch a high of Rs. 5.80 on BSE in opening deals on announcing the completion of sale of Udupi power plant.
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