PVR stock flat

Shares of PVR surged by nearly 0.13% to a high of Rs. 709 on reports that company is planning to open of Multiplex at Aura Mall, Sector E-8, Arena Colony, Bhopal. 

The stock has hit a high of Rs. 713.90 and a low of Rs. 715. 

Total traded quantity on the counter stood at over 510 lk shares.

Indian Rupee: Edges Lower

                     The Indian rupee inched lower at commencement on Friday, 16 January 2015 tracking a mixed set of Asian currencies. Rupee weakened against the dollar after the Swiss National Bank (SNB) unexpectedly abandoned its minimum exchange rate versus the euro currency on Thursday. The SNB widened the negative interest rate it gives on deposits to minus 0.75% from 0.25% and also decided that the 1.20 per euro cap had to be discontinued. The domestic currency opened lower by 4 paise at Rs 62.10 against the US dollar and fell to a 2-day low of 62.20 from an early high of 62.08 so far during the day. In the spot currency market, the Indian unit was last seen trading at 62.15, down 9 paise or 0.14% as compared to previous close at 62.07.

                               Rupee ended at 62.07 per dollar after rising to 61.47 per dollar, its strongest level since Nov. 13, as the central bank stepped in to prevent further sharp appreciation in the rupee. Dollar short-covering was seen globally after Swiss National Bank move on removing band on currency also hurt. The partially convertible rupee ended at 62. 19 on Wednesday.

                               Domestic benchmark indices edged lower in early trade tracking weakness in Asian stocks. Asian shares stepped back on Friday and major currencies mostly stuck to late U.S. levels as investors caught their breath, after Switzerland's unexpected move to abandon its currency cap jolted markets already roiled by plunging commodities prices.

                               Foreign portfolio investors bought Indian shares worth a net Rs 1738.24 crore yesterday, 15 January 2015, as per provisional data. At the time of writing, the S&P BSE Sensex was down 73.31 points or 0.26% at 28,002.24 while the CNX Nifty was down 14.60 points or 0.17% at 8,479.55.

                               India's trade deficit narrowed mainly on account of falling imports due to slump in crude prices and lower gold purchases. Trade deficit during December fell sharply to $9 billion from $16.8 billion in November 2014. While exports for the month came in at $25.40 billion from $25.96 billion in November, imports declined to $34.83 billion from $42.82 billion in the previous month. The dollar index, which measures the US currency's strength against major currencies, was trading at 92.111, down 0.26% from its previous close of 92.352.

                                In the global currency market, the euro hovered above an 11-year trough early on Friday as investors wagered the Swiss move to abandon its currency cap meant it was almost certain the European Central Bank would launch large-scale bond buying next week.

HUL stock up 2%

Hindustan Unilever (HUL) seem to be on joyride, as the stock so far in the month has skyrocketed over 24 per cent (Rs 144) till the date. 

The buying at the counter is on the back of recent upgrades by some foreign broking firms and also in anticipation of a strong show on the earnings front.


The company will be announcing its Q3 earnings next week on January 19, 2015.


Hindustan Unilever has registered a fresh record high at Rs. 944, and is now up almost a per cent at Rs. 938.


So far on the Bombay Stock Exchange (BSE), the counter has seen trades of around 96,000 shares, as against the two-week daily average volume of 252,000 shares.

HSIL stock up 4%

HSIL started the day on a gung-ho note, with a surge of 5.6 per cent at Rs. 435 on the back of strong set of financial earnings.

Yesterday, after market, the company informed the BSE that HSIL booked a net profit of Rs. 30.29 crore in Q3FY15, against Rs. 11.79 crore in Q3FY14.

Total income also rose by 26 per cent to Rs. 462 crore from Rs. 366 crore.

The stock so far has jumped 6.5% to record a 52-week high at Rs. 439.

Now, the stock is up 3.88% at Rs. 428. On the BSE counter, so far, 143,000 shares are traded, when compared with its two-week daily average volume of 55,000 shares.

Top economic news of the day - January 16, 2015

India's trade deficit declined to 10-month low of US$9.43 bn in December mainly on account of falling imports due to slump in crude prices, though exports too have come down.

In a surprise move, the Reserve Bank of India (RBI) cut the reverse repo rate by 25 basis points to 7.75%.

HSIL stock up 4%

HSIL started the day on a gung-ho note, with a surge of 5.6 per cent at Rs. 435 on the back of strong set of financial earnings. 

Yesterday, after market, the company informed the BSE that HSIL booked a net profit of Rs. 30.29 crore in Q3FY15, against Rs. 11.79 crore in Q3FY14. 

Total income also rose by 26 per cent to Rs. 462 crore from Rs. 366 crore. 

The stock so far has jumped 6.5% to record a 52-week high at Rs. 439. 

Now, the stock is up 3.88% at Rs. 428. On the BSE counter, so far, 143,000 shares are traded, when compared with its two-week daily average volume of 55,000 shares.

Top corporate news of the day - January 16, 2015

Ashok Leyland unveiled the Versa EV from its UK arm Optare plc, at the Bus & Special Vehicles Show organised by SIAM in Greater Noida, Delhi NCR.
 
Infosys is open to 'bigger scale' mergers and acquisitions but with a caveat, it is not interested in "yesterdays" companies.
 
Royal Dutch Shell and French firm GDF Suez are likely to take 26 % cent stake each in GAIL India Ltd's proposed floating LNG import terminal at Kakinada in Andhra Pradesh.
 
BHEL has bagged a Rs12bn order for 370 MW gas-based combined cycle power project in Karnataka.
 
An Australian environmental group launched a legal challenge against Adani Enterprises' US$7bn Carmichael coal mine project in the Galilee Basin, renewing the focus on a key issue in a rancorous election campaign in Queensland state.
 
YES Bank plans to seek approval from the regulators for entering into the asset management and the primary dealership business.
 
United Bank of India (UBI) became the first bank to announce a reduction in base rate following the Reserve Bank of India's (RBI) decision to cut repo rate by 25 basis points.
 
Atul announced that it has got the US Food and Drug Administration (FDA) approval for the Dapsonemanufacture facility located at Valsad, Gujarat.
 
Bharat Petroleum Corp Ltd (BPCL) plans to more than double capacity of its Bina refinery in Madhya Pradesh to 15 mn tonnes at a cost of about Rs230bn.
 
SpiceJet announced its fourth change of ownership going back to its original promoter Ajay Singh, at a time when the beleagured airline needs an urgent turnaround.

Spicejet stock hits 10% upper circuit

The Board of Directors of the Company has taken on record the proposal of the principal shareholder and Promoter, Mr. Kalanithi Maran and KAL Airways Private Limited to transfer the ownership, management and control of the Company to Mr. Ajay Singh 

                                                                          Shares of Spicejet has hit 10% upper circuit at Rs20.50.

The Board of Directors of the Company has taken on record the proposal of the principal shareholder and Promoter, Mr. Kalanithi Maran and KAL Airways Private Limited to transfer the ownership, management and control of the Company to Mr. Ajay Singh pursuant to a ‘Scheme of Reconstruction and Revival for the takeover of ownership, management and control of SpiceJet Limited’ to be filed before the Competent Authority, the Ministry of Civil Aviation, Government of India.

The Board has further directed the Company to take further steps to implement and undertake all necessary steps including to make the appropriate application before the Ministry of Civil Aviation, Government of India for seeking approval of the ‘Scheme of Reconstruction and Revival for the takeover of ownership, management and control of SpiceJet Limited’.

Nifty above 8450 levels

At 9:31AM, the S&P BSE Sensex is trading at 28,019 down 56 points, while NSE Nifty is trading at 8,465 down 26 points.

The BSE Mid-cap Index was trading down 0.15%, while BSE Small-cap Index was trading flat.

Consumer Durables indices is only the gainer, while Auto, Power, banking, capital goods, FMCG, healthcare, metal, realty, Oil and gas indices are the losers.

A pleasant surprise was all that was the needed for the market to fire on all cylinders. The repo rate cut by 25bps when the street was expecting it to come through in February policy meeting, at the earliest is a big sentiment booster for the business community and the stock market. Yet, the fact remains that no immediate impact would be seen on prevailing interest rates, since both short and long term bond yields have already softened driven by benign liquidity conditions.

The Finance Minister said reduction in rates will lead to more money in the hand of the consumers and result in greater spending and is positive for the Indian economy.

India's trade deficit declined to 10-month low of US$9.43 bn in December mainly on account of falling imports due to slump in crude prices, though exports too have come down.

IMF Managing Director Lagarde said she doesn’t she Greece leaving the Euro zone, deflation is a huge concern for the Euro zone.