The BSE Mid-cap Index is trading down 0.13% at 10,978, whereas BSE Small-cap Index is trading up 0.01% at 11,793.
MRF manufacturing plant in Medak district has been in operation since 1990 and about Rs. 4,300 crore has so far been invested in the unit here, report stated.
At 9:33 AM, the S&P BSE Sensex is trading at 28,666 down 50 points, while NSE Nifty is trading at 8,675 down 31 points.
The BSE Mid-cap Index is trading down 0.13% at 10,978, whereas BSE Small-cap Index is trading up 0.01% at 11,793.
Some buying activity is seen in oil and gas, fmcg, metal and realty sectors, while IT, consumer durable, banking and auto sectors are showing weakness on BSE.
Reliance Industries, Sun Pharma, ONGC, Hindalco Industries and Bharti Airtel are among the gainers, whereas TCS, Bajaj Auto, Wipro and Hero Motocorp are losing sheen on BSE.
On expected lines, IT companies continue to disappoint to some extent. TCS saw ~30% drop in net profit for Q4 after it rewarded staff with a one-off bonus. Overall weakness and cross currency issues also weighed on the performance.
The attention now will shift to Reliance in particular. Though crude oil prices fell, no major change was seen in demand for petroleum products, which means product spreads have increased leading to better GRMs. Reliance Industries could well report one of its best GRM in Q4. The recent movement in the stock seems to suggest that the street is speculating on whether RIL can clock a net profit close to the Rs.6000 mark.
MMTC is ready to divest 15 per cent more of its equity in the current fiscal in line with the government’s intent of increasing public holding in State-run units to at least 25 per cent.Based on current market valuation, the stake sale could fetch the exchequer an estimated Rs. 800 crore, a report stated.
Meanwhile, Prime Minister Narendra Modi has vowed to “clean up” the mess left behind by the others. “There is a new atmosphere of trust in our nation... We say ‘jan gana man adhinayak’ — that ‘Jan Man’ has changed,” Modi said in Canada.
California-based Glaucus Research, issued a "strong sell" report on software firm Rolta India, saying the company does not produce free cash flow and cannot repay offshore bondholders without refinancing. Rolta's crashed on the report. Rolta Chief Financial Officer Hiranya Ashar rejected the Glaucus report as "inaccurate and completely baseless".
Maharashtra has emerged on top with a share of over 21 per cent in the total investments attracted by real estate sector across India as of 2014-15 followed by Uttar Pradesh (14 per cent), Gujarat (13 per cent), Karnataka (12 per cent) and Haryana (eight per cent) that are amid top five states in this regard, apex industry body ASSOCHAM said.
Among sectors, the CNX IT index has dropped over a percent at 11,917. The Bank Nifty, Auto, Infra and PSU Bank indices are the other notable losers.
On the other hand, the Energy index has gained over 0.5 percent at 8,970. The Realty and FMCG indices have added 0.2 percent each.
In the Nifty space - TCS slipped 2.4 percent to Rs. 2,520. Lupin, Tech Mahindra and IndusInd Bank have dropped over 2 percent each.
Ultratech, Wipro, HCL Technologies, Bajaj Auto and Yes Bank are the other prominent losers.
On the other hand, Reliance jumped 1.5 percent at Rs. 942 ahead of earnings. Bharti Airtel, Sun Pharma, ONGC and Sesa Sterlite are the other notable gainers.
MRF manufacturing plant in Medak district has been in operation since 1990 and about Rs. 4,300 crore has so far been invested in the unit here, report stated.
At 9:33 AM, the S&P BSE Sensex is trading at 28,666 down 50 points, while NSE Nifty is trading at 8,675 down 31 points.
The BSE Mid-cap Index is trading down 0.13% at 10,978, whereas BSE Small-cap Index is trading up 0.01% at 11,793.
Some buying activity is seen in oil and gas, fmcg, metal and realty sectors, while IT, consumer durable, banking and auto sectors are showing weakness on BSE.
Reliance Industries, Sun Pharma, ONGC, Hindalco Industries and Bharti Airtel are among the gainers, whereas TCS, Bajaj Auto, Wipro and Hero Motocorp are losing sheen on BSE.
On expected lines, IT companies continue to disappoint to some extent. TCS saw ~30% drop in net profit for Q4 after it rewarded staff with a one-off bonus. Overall weakness and cross currency issues also weighed on the performance.
The attention now will shift to Reliance in particular. Though crude oil prices fell, no major change was seen in demand for petroleum products, which means product spreads have increased leading to better GRMs. Reliance Industries could well report one of its best GRM in Q4. The recent movement in the stock seems to suggest that the street is speculating on whether RIL can clock a net profit close to the Rs.6000 mark.
MMTC is ready to divest 15 per cent more of its equity in the current fiscal in line with the government’s intent of increasing public holding in State-run units to at least 25 per cent.Based on current market valuation, the stake sale could fetch the exchequer an estimated Rs. 800 crore, a report stated.
Meanwhile, Prime Minister Narendra Modi has vowed to “clean up” the mess left behind by the others. “There is a new atmosphere of trust in our nation... We say ‘jan gana man adhinayak’ — that ‘Jan Man’ has changed,” Modi said in Canada.
California-based Glaucus Research, issued a "strong sell" report on software firm Rolta India, saying the company does not produce free cash flow and cannot repay offshore bondholders without refinancing. Rolta's crashed on the report. Rolta Chief Financial Officer Hiranya Ashar rejected the Glaucus report as "inaccurate and completely baseless".
Maharashtra has emerged on top with a share of over 21 per cent in the total investments attracted by real estate sector across India as of 2014-15 followed by Uttar Pradesh (14 per cent), Gujarat (13 per cent), Karnataka (12 per cent) and Haryana (eight per cent) that are amid top five states in this regard, apex industry body ASSOCHAM said.
Among sectors, the CNX IT index has dropped over a percent at 11,917. The Bank Nifty, Auto, Infra and PSU Bank indices are the other notable losers.
On the other hand, the Energy index has gained over 0.5 percent at 8,970. The Realty and FMCG indices have added 0.2 percent each.
In the Nifty space - TCS slipped 2.4 percent to Rs. 2,520. Lupin, Tech Mahindra and IndusInd Bank have dropped over 2 percent each.
Ultratech, Wipro, HCL Technologies, Bajaj Auto and Yes Bank are the other prominent losers.
On the other hand, Reliance jumped 1.5 percent at Rs. 942 ahead of earnings. Bharti Airtel, Sun Pharma, ONGC and Sesa Sterlite are the other notable gainers.
No comments:
Post a Comment