Wednesday, 4 February 2015

Infosys board inducts Roopa Kudva as lndependent Member of the Board; stock up 1%

The stock has hit a high of Rs. 2,149.5 and a low of Rs. 2,128. 

Shares of Infosys was up 1% at Rs. 2,142. Infosys Board Inducts Roopa Kudva as lndependent Member of the Board. 


The stock has hit a high of Rs. 2,149.5 and a low of Rs. 2,128. 

Total traded quantity on the counter stood at over 0.49 lk shares.

Tata Power stock up 4% on Q3 results

The stock has hit a high of Rs91 and a low of Rs87


Shares of Tata Power Company Ltd surged 4% at Rs 90 after the company has posted a net profit/(loss) after tax, minority interest and share of profit of associates of Rs. 1977.40 mn for the quarter ended December 31, 2014 as compared to net (loss) of Rs. (749.10) mn for the quarter ended December 31, 2013. 

The stock has hit a high of Rs91 and a low of Rs87. 

Total Income has increased from Rs. 86059.30 mn for the quarter ended December 31, 2013 to Rs. 93213.40 mn for the quarter ended December 31, 2014.

Central Bank Q3 net profit at Rs.137.6 crore

Total Income has increased from Rs. 67085.00 million for the quarter ended December 31, 2013 to Rs. 70327.00 million for the quarter ended December 31, 2014. 

Central Bank of India has announced a net profit of Rs. 1376.50 million for the quarter ended December 31, 2014 as compared to Rs. 615.30 million for the quarter ended December 31, 2013.

 Total Income has increased from Rs. 67085.00 million for the quarter ended December 31, 2013 to Rs. 70327.00 million for the quarter ended December 31, 2014.

Tata Power Q3 cons net profit at Rs198 crore

Tata Power Earnings Q3 cons sales at Rs8,750 crore.

















Tata Power Company Ltd has posted a net profit/(loss) after tax, minority interest and share of profit of associates of Rs. 1977.40 million for the quarter ended December 31, 2014 as compared to net (loss) of Rs. (749.10) mn for the quarter ended December 31, 2013. 

Total Income has increased from Rs. 86059.30 million for the quarter ended December 31, 2013 to Rs. 93213.40 mn for the quarter ended December 31, 2014.

Tata Power Q3 consolidated sales at Rs8,750 crore.

Raghuram Rajan: We still have concerns about inflation

The new CPI number may have lower weight for food. We Will adhere to monetary policy dates 'as far as possible', added Rajan.

RBI Governor Raghuram Rajan said that "We still have concerns about inflation.There is need to prepare for global financial market volatility, "

 The new CPI number may have lower weight for food. We Will adhere to monetary policy dates 'as far as possible', added Rajan.

 RBI Governor said that we are looking at 'entire package' of fiscal consolidation. Rajan said that Mis-targeted subsidies need to move to capital spending.

Canara Bank zooms 4%

So far, the stock has soared over 7.5 per cent from the day's low. 













Canara Bank wiped out all the losses in the mid-noon deals and rebounded into the positive zone, on the back of strong Q3 earnings.

According to a release issued by the company the BSE, the Bank has reported 60.2 per cent surge in Q3 net profit at Rs. 655 crore as compared to Rs. 409 crore on year-on-year basis.

Total income also increased by almost 12 per cent to Rs. 12,227 from Rs. 10,935 crore in the same above mentioned period.

So far, the stock has soared over 7.5 per cent from the day's low of Rs. 421 to touch a high at Rs. 453 on the BSE.

Now, Canara Bank is up 3.5 per cent at Rs. 455, and has witnessed high volume of around 923,000 shares as against the two-week daily average volume of 161,000 shares.

Meanwhile, the BSE Sensex is up 37 points at 29,037.

India's coffee exports to fall 10% on lower arabica output

Lower shipments by India, the world's sixth-biggest coffee producer, could further stiffen global prices of arabica, which jumped 50 per cent in 2014. 
Lower shipments by India, the world's sixth-biggest coffee producer, could further stiffen global prices of arabica, which jumped 50 per cent in 2014.


MUMBAI: India's annual exports of coffee are set to drop by more than a tenth in the marketing year ending September 30, hit by lower output of the arabica variety as farmers' demand for higher prices erodes overseas competitiveness. 

Lower shipments by India, the world's sixth-biggest coffee producer, could further stiffen global prices of arabica, which jumped 50 per cent in 2014. Italy, Germany and Belgium are India's main coffee buyers. 



Alembic Pharma Q3 PAT at Rs70.6 crore

Total Income has increased from Rs. 4858.50 million for the quarter ended December 31, 2013 to Rs. 5119.10 million for the quarter ended December 31, 2014. 

Alembic Pharmaceuticals Ltd has posted a net profit after tax and share of profit of associates of Rs. 706.60 million for the quarter ended December 31, 2014 as compared to Rs. 659.30 million for the quarter ended December 31, 2013.

 Total Income has increased from Rs. 4858.50 million for the quarter ended December 31, 2013 to Rs. 5119.10 million for the quarter ended December 31, 2014.

Sensex above 29,000

Breadth is positive in the noon deals. CNX Realty, CNX Metal, CNX Pharma and CNX Energy are the major gainers

Stock-Exchange
















The market is now moving in-and-out of the positive zone as investors are waiting for further directional cues.

At 1352 hrs, the Sensex has added 27 points at 29,026. The Nifty is down 1 at 8,756.

Among Sectoral indices, the CNX PSU Bank has smartly recovered all its losses and now, trading marginally negative.

Among banking shares, Canara Bank is the top gainer - up 2.3 per cent at Rs. 450, after the bank posted 60 per cent growth in Q3 net profit.

Syndicate Bank has jumped 1.8 per cent at Rs. 119. Punjab National Bank has added over 1.5 per cent at Rs. 180. Bank of Baroda has gained 1.3 per cent at Rs. 188.

Andhra Bank, Indian Overseas Bank and Bank of India are the other gainers.

The CNX Realty index has soared 3 per cent. The CNX Metal index has jumped over 2 per cent.

The CNX Energy and the CNX Pharma indices have added nearly a per cent each.

The market breadth has turned positive. Out of 1,688 stocks have traded on the NSE - 770 stocks have advanced, while 685 stocks have declined.

Gold futures edge higher with U.S. economy in focus

Gold rises with U.S. economy in focusGold rises with U.S. economy in focus
 Gold edged higher on Tuesday, as market players looked ahead to the release of key U.S. data later in the week for further indications on the strength of the economy and the future path of monetary policy.
On the Comex division of the New York Mercantile Exchange, gold futures for April delivery tacked on $7.30, or 0.57%, to trade at $1,284.20 a troy ounce during European morning hours.
Prices held in a range between $1,272.60 and $1,285.80. On Monday, gold shed $2.30, or 0.18% to settle at $1,276.90.
Futures were likely to find support at $1,257.50, the low from January 30, and resistance at $1,294.60, the high from January 28.
Optimism over the health of the U.S. economy weakened after data on Monday showed that U.S. consumer spending fell at the fastest rate since September 2009 in December.
Separate reports showed that U.S. construction spending rose less than expected in December, while manufacturing growth slowed.
The disappointing numbers came after data last week that showed the U.S. economy grew by a weaker-than-expected 2.6% in the fourth quarter, slowing sharply from growth of 5.0% in the preceding quarter.
Later in the day, the U.S. was to release data on factory orders. Market players also looked ahead to the release of the latest U.S. nonfarm payrolls report on Friday, for further indications on the strength of the recovery in the labor market.
Market analysts expect the data to show that the U.S. economy added 234,000 jobs in January, slowing from a gain of 252,000 in December, while the unemployment rate was forecast to hold steady at 5.6%.
A strong U.S. nonfarm payrolls report was likely to add to speculation over when the Federal Reserve will begin to raise interest rates, while a weak number could boost gold by undermining the argument for an early rate hike.
Gold prices ended January with a gain of $94.20, or 7.96%, as investors sought safety from volatility in global financial markets.
Also on the Comex, silver futures for March delivery jumped 41.9 cents, or 2.43%, to trade at $17.67 a troy ounce. Silver rose 4.3 cents, or 0.25%, to end at $17.25 on Monday. Prices soared $1.47, or 10.31%, in January.
Elsewhere in metals trading, copper for March delivery surged 7.7 cents, or 3.08%, to trade at $2.567 a pound as a rally in oil and global equity markets lifted sentiment.

Oil prices are up nearly 14% in the three sessions including Tuesday, as investors closed out bets on lower prices after data showed the number of U.S. oil drilling rigs had fallen by the most in nearly 30 years last week.
London-traded Brent prices rose $1.97, or 3.6%, to $56.72 a barrel, while Nymex oiltacked on $1.59, or 3.22%, to hit $51.17.
Meanwhile, Asian stocks markets ended mostly higher as a surprise rate cut by Australia’s central bank boosted sentiment.
Shares in Shanghai rallied more than 2% after Monday's soft Chinese manufacturing data added to speculation that policymakers in Beijing may implement fresh stimulus measures to support the economy.
In Europe, markets were boosted by hopes that Greece’s new government would be able to reach a compromise with its international creditors on the terms of its bailout.

Wockhardt Q3 PAT at Rs. 347 crore

Wockhardt Q3 sales at Rs 1,382 cr vs Rs1,236 cr, up 11.8% YoY.
















Wockhardt Q3 PATat Rs 347 cr vs Rs 304 cr, up 14% YoY.

Wockhardt Q3 sales at Rs 1,382 cr vs Rs1,236 cr, up 11.8% YoY.

Wockhardt Q3 Operating Margin at 33.5% Vs 19.5% (YoY 

Century Textiles Q3 net loss at Rs.63.6 crore

Century Textiles Q3 Total Income at Rs.1,847.6 Cr Vs Rs.1,639.3 Cr (YoY)

Century Textiles & Industries Ltd has announced a net loss of Rs. (635.80) million for the quarter ended December 31, 2014 as compared to net profit Rs. 15.80 million for the quarter ended December 31, 2013. 


Total Income has increased from Rs. 16459.60 million for the quarter ended December 31, 2013 to Rs. 18582.50 million for the quarter ended December 31, 2014.

Tata Power stock up 2%

The stock is trading higher ahead of Q3 results.


















Tata Power is trading near day's high ahead of its quarterly earnings.

Now, the stock is up 1.7 per cent at Rs. 88. On the BSE counter, so far, 290,000 shares are traded, when compared with its two-week daily average volume of 619,000 shares.

The board of the company is scheduled announced its Q3 results later today

Reliance Industries raises $750 million from overseas market

On January 22, the company had raised $1 billion by selling 10-year bonds at an interest rate of 4.125%, which the company claimed was the lowest in Asia and with almost no new-issue premium. In 2014, the company had raised over $3.3 billion in forex debt.


Reliance Industries today said it has raised $750 million (about Rs 4,624 crore) through issue of bonds to global investors in the overseas markets.
This is the second time within a few days that the Mumbai-based firm has hit theforex debt market.
"Reliance Industries has priced a Rule 144A/Regulation S offering of $750 million 4.875% Senior Unsecured Notes due 2045," it said in a statement.
On January 22, the company had raised $1 billion by selling 10-year bonds at aninterest rate of 4.125%, which the company claimed was the lowest in Asia and with almost no new-issue premium. In 2014, the company had raised over $3.3 billion in forex debt.
Reliance claimed that this is the first ever single tranche, 30 year deal and lowest coupon ever achieved by an Asian private corporate issuer for a 30-year issuance.
"The Notes have been priced at 262.5 basis points over the 30-year US Treasury Note, at a price of 98.865 to yield 4.948%... The funds will be used for its ongoing capital expenditure," it added.
The issue has been rated Baa2 by Moody's Investors Service.
In terms of geographic distribution, 47% of the Notes were distributed in Asia, 45% in the US and 8% in Europe.
They were distributed to high quality fixed income accounts -- 52% to fund managers, 31% to insurance companies, 8% to pension funds, 6% to central banks and sovereign wealth funds, 2% to banks and one per cent to private banks.
"We are delighted to continue to lead the way for Asian corporates to access long-term financing at attractive rates. Like our previous issuances, we were able to efficiently execute through an intra-day window, despite volatility in asset markets," RIL Joint Chief Financial Officer V Srikanth said.
Bank of America Merrill Lynch, Barclays Bank PLC, Citigroup Global Markets Inc and The Hongkong and Shanghai Banking Corporation Ltd acted as Joint Book runners and Lead Managers. 

HDIL stock down 6%

The stock has hit a high of Rs113 and a low of Rs103.

Shares of HDIL was lower by 6% at Rs111.

The stock has hit a high of Rs113 and a low of Rs103.

Total traded quantity on the counter stood at over 27.31 lk shares.

Banks continue to slide

The Bank Nifty has tumbled over 8 per cent from its all-time high at 20,908 in just six trading sessions


The banking stocks continue to remain under selling pressure for the sixth trading session as asset quality remains a worry. A number of PSU banks reported sharp rise in NPAs in the recently concluded December quarter results.

 Further, the RBI yesterday in its policy review meet left key rates unchanged as it preferred to wait for fresh economic data and the Union Budget before taking its next move.


 The Bank Nifty has dropped to a low of 19,167, and is now down 1.1 per cent (216 points) at 19,167. The Bank Nifty has tumbled 8.3 per cent from its recent all-time high of 20,908 on 28 January, 2015.

 The PSU Bank index has shed 1.8 per cent (72 points) at 3,853

Axis Bank is the major loser today, down 4.4 per cent at Rs. 561. Union Bank of India has slipped nearly 3 per cent to Rs. 200.


 Allahabad Bank, Canara Bank, Indian Overseas Bank, Andhra Bank and SBI are down around 2 per cent each.


 Punjab National Bank, ICICI Bank, Oriental Bank of Commerce, IDBI, Bank of India and Bank of Baroda are other notable losers

Government settled pension related complaints: Dr. Jitendra Singh

Dr. Jitendra Singh said that the present government has announced a number of innovative measures to make the delivery of pension and related documents much more convenient and less time- consuming.



















The Union Minister of State (Independent Charge) of the Ministry of Development of North-Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr. Jitendra Singh has said that the government has been prompt in disposal of grievances received from pensioners from across the country. The Minister was addressing a meeting of All India Standing Committee of Voluntary Agencies of Pensioners (SCOVA), here today. As many as 11,390 pension related complaints had been settled by his department, he added. 

Dr. Jitendra Singh said that the present government has announced a number of innovative measures to make the delivery of pension and related documents much more convenient and less time- consuming. In this context, he referred to the Aadhaar based “Jeevan Pramaan Package” launched by Prime Minister on November 11, 2014 which enables the pensioners to register online their life certificates in digital format. In this way, it eliminates the requirement for an elderly pensioner to physically walk all the way to the concerned authorities to deliver a certificate of his being alive, he said. So far, as many as 39,000 pensioners have already availed of the facility to submit their life certificates online, the Minister added. 

As a part of the significant progressive e-Governance plan, Dr. Jitendra Singh informed that the Department of Pensions has started a web-based pensioners’ portal which is expected to serve as one-stop information source for pensioners across the country. The information available on the pensioners’ portal will include pension rules, different pension schemes, orders issued from time to time, pension calculation process, etc., he added. 

In order to avoid delays, Dr. Jitendra Singh said, an online pension sanction and payment tracking system called “Bhavishya” has been introduced and so far 25 Ministries and Departments have already been initiated into this system. Similarly, he said, another web-based application called “Sankalpa” has been developed which provides a platform for pensioners to access opportunities available for useful interventions in the society. 

Secretary Pensions, Govt of India, Alok Rawat and Joint Secretary, Smt. Vandana Sharma made presentations on the occasion.



TBZ tumbles 4% on dismal Q3 nos

The stock so far has plunged 5.7 per cent to touch a low at Rs. 164.











Tribhovandas Bhimji Zaveri is trading on weak note after the company reported 66 per cent decline in Q3 net profit on year-on-year basis.

The company recorded net profit of Rs. 6.47 crore for Q3FY15, as against Rs. 19.07 crore in Q3FY14.

Whereas, total income rose by 18.4 per cent to Rs. 612 crore from Rs. 517 crore.

The stock opened with a loss of 3.1 per cent at Rs. 168 and soon, plunged 5.7 per cent to touch a low at Rs. 164.

Now, the stock is down 4.4 per cent at Rs. 166. The BSE counter has seen trades of around 12,000 shares, when compared with its two-week daily average volume of 102,000 shares.
Meanwhile, the Sensex is up 42 points at 29,042.

Gold struggles as Greek plan boosts equities

Greece's new government dropped calls for a write-off of its foreign debt and proposed ending a standoff with its official creditors by swapping the debt for growth-linked bonds


Gold was steady but failed to rebound on Wednesday after falling more than 1 percent in the previous session as Greece's plan to end a standoff with creditors lifted the appetite for risky assets such as equities.


 FUNDAMENTALS 

* Spot gold was little changed at $1,260.86 an ounce by 0018 GMT, after falling 1.2 percent on Tuesday. That marked      gold's fourth drop in five sessions.

 * U.S. gold for April delivery was also nearly flat at $1,261.50 an ounce. 

* Greece's new government dropped calls for a write-off of its foreign debt and proposed ending a standoff with its official creditors by swapping the debt for growth-linked bonds

. * New orders for U.S. factory goods fell for a fifth straight month in December, but a smaller-than-previously reported drop in business spending plans supported views of a rebound in the months ahead.

 * The world's largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings slipped to 24.59 million ounces on Tuesday from 24.65 million ounces the day before, which was the highest level since October


. MARKET NEWS


 * Asian stocks rose on the back of Greece's debt plan while the U.S. dollar nursed big losses as a revival in risk appetite swept through crowded trading positions.