Indices to open flat

There are many issues at hand the market may be grappling with. MAT is an issue which will continue to keep investors edgy. 

There are many issues at hand the market may be grappling with. MAT is an issue which will continue to keep investors edgy. 

 Manufacturing data emanating from China and Japan are showing softness but stock markets have a different take on that as they expect more policy stimulus on account of the slowdown.

The outlook is a flat start. IT major Infosys will declare its numbers today. With Wipro reporting a weaker than expected 1.2% qoq constant currency dollar revenue growth in its IT services segment and an overall muted revenue performance by the company, the investors would be keenly watching out for Infosys. Cross currency movements would affect growth. Crompton Greaves Says Avantha Holdings has proposed to sell consumer electricals business to Advent for Rs. 2000Cr.

Global cues are mixed. US stocks closed higher with Nasdaq hitting an all-time high of 5073.09. Asian markets are mostly lower. Japan's Nikkei is down while Hong Kong's Hang Seng index is up. China's Shanghai index is also trading lower.

Moody's Investors Service says that the finalization by members of the Association of Southeast Asian Nations (ASEAN) of tariff liberalization by the end of 2015 is credit positive for the region and will boost intra-regional trade and economic growth.

Capgemini is planning to acquire Nasdaq-listed Igate, says a report. If the deal is done, it will be one of the biggest M&As in the IT services space. 

Cyient Ltd has posted a net profit after taxes, share in profit of associate and minority interest of Rs. 936.90 million for the Quarter ended March 31, 2015 whereas the same was at Rs. 698.30 million for the Quarter ended March 31, 2014. Total Income is Rs. 7678.50 million for the Quarter ended March 31, 2015 whereas the same was at Rs. 5918.90 million for the Quarter ended March 31, 2014.

In a move to further strengthen its senior management team, Snapdeal, India’s largest online marketplace today announced that it has appointed Vivek Patankar as Senior Vice President –Finance.

Shares of HDFC Bank were closed lower at Rs. 1,013.50 on BSE today. The bank announced 20.6 percent growth in Q4 net profit at Rs. 2,807 crore towards the end of the trading session.

MRF Ltd has posted a net profit of Rs. 3326.20 million for the quarter ended March 31, 2015 as compared to Rs. 1708.70 million for the quarter ended March 31, 2014.Total Income has increased from Rs. 33096.60 million for the quarter ended March 31, 2014 to Rs. 33327.70 million for the quarter ended March 31, 2015.The stock ended 3% higher at Rs. 40077.

Yes Bank Ltd stock ended 7% higher at Rs. 851.the Board of Directors of the Company at its meeting held on April 22, 2015, inter alia, have approved the proposal to seek final approval of Shareholders for increase in the limit for the FII / FPI of up to 74% of the paid up share capital of the Bank from the existing limit of 49% of the paid up share capital.

Clariant Chemicals tumbled 8% to Rs. 901 after the company's Q4 net profit plunged by nearly 30 percent to Rs. 10.65 crore on year-on-year basis.

 

Jet Airways soared to a high of Rs. 427 on plans to reduce its debt. According to media reports, the airline plans to sell 16 aircrafts including Boeing 777 and Airbus A330 due to slack demand. The stock pared gains and ended mere 0.5% higher at Rs. 412.

Biocon surged over 3% to a high of Rs. 470 after the company's subsidiary - Syngene International filed a Draft Red Herring Prospectus with the Securities and Exchange Board of India for an IPO. The stock, however, ended down nearly a percent at Rs. 452.

Tata Power added 0.5% to Rs. 79 as global ratings agency S&P revised upwardly its outlook on the company to 'stable' and reaffirmed its B+ rating citing the progress on tariff revision and stake sale.

Welspun Enterprises scaled a fresh 52-week high at Rs. 434 on receiving Gujarat High Court approval for the scheme of Amalgamation between the company and its subsidiaries - Welspun Infratech, Welspun Plastics Private, Welspun Infra Projects and Welspun Projects. The stock finally ended with a solid gain of 8.3 percent at Rs. 410.

Everest Industries was locked at the 20% upper circuit at Rs. 354 on reporting a three-fold jump in net profit at Rs. 10.07 crore for Q4FY15.

Supreme Petrochem ended 5% higher to Rs. 71.20 after the company's net profit more-than-doubled to Rs. 20.47 crore for Q3FY15.

Ashoka Buildcon closed 5% lower to Rs. 181 after the company announced a 7.5 percent discount to the QIP issue price. The company announced its plans to raise up to Rs. 500 crore by way of issue of 2.84 crore equity shares to eligible Qualified Institutional Buyers (QIB) at Rs. 175.80 each.

Results: Infosys, Siemens, Supreme Industries, Steel Strips Wheels, Cholamandalam Investment and Finance, Fag Bearings India, Amal Ltd, Indiabulls Ventures, Indiabulls Housing Finance, Foseco India, Hinduja Ventures, Parrys Sugar Industries, Sequent Scientific Ltd.