Monday, 9 March 2015

BF Utilities stock rallies 6%

The stock so far has touched a high of Rs. 740 and a low of Rs. 666.

Shares of BF Utilities India Ltd surged 6% and is trading at Rs. 726.85. In an official declaration, the company announced that the 14th Annual General Meeting (AGM) of the Company will be held on March 30, 2015.

The stock so far has touched a high of Rs. 740 and a low of Rs. 666. Around 5.52 lakh shares have been traded so far at the counter on the BSE, as against the bi-weekly average of 3.42 lakh. 

Meanwhile, the BSE Sensex so far has plunged to a low of 29,072.33 and now is down 1.28 per cent (376.62 points). 

Natco Pharma gains 3% on launching drug in Nepal

The stock hit a high of Rs. 1,580 and a low of Rs. 1,536 on BSE today. 

Natco Pharma is trading higher on the BSE on the back of launching Hepatitis C drug in Nepal.

The company today informed the BSE that it has launched the first generic version of sofosbuvir in Nepal, which is used for chronic hepatitis C infection.

The stock opened with a gain of 1.5 per cent at Rs. 1,536. So far, the stock has jumped to a high of Rs. 1,580 - up 4.4 per cent from its previous close.

Now, the stock is up 3 per cent at Rs. 1,566. The BSE counter has registered trades of around 11,000 shares, as against two-week daily average volume of 7,431 shares.

Meanwhile, the Sensex has plunged 381 points at 29,068. 

Dr.Datsons Labs partner with Clinton Foundation; stock shoot 6%

The stock has hit a high of Rs. 8.05 and a low of Rs. 7.24 on BSE today. 


Shares of Dr.Datsons Labs Ltd were trading up 6% at Rs. 8 on BSE today. The stock opened at Rs. 7.40 as against the previous close of Rs. 7.47 on BSE. It has hit a high of Rs. 8.05 and a low of Rs. 7.24 on BSE today.

Dr. Datsons Labs patner with Clinton Foundation to supply Anti-Malarial Drugs to Eliminate Malaria on UNITAID-CHAI Malaria Treatment Project 2015. Dr. Rajendra Kamat (VC & MD ) nominated for receiving The International Aristotle Award in Turket on March 21st and 22nd 2015 at Turkey.

Total traded quantity on the counter stood at over 3.91 lk shares on BSE.

Meanwhile, the benchmark BSE Sensex is trading at 29,058 down 391 points. 

Nifty holds 8,800 level

The BSE Sensex has now plunged 365 points; Breadth too remains negative.

National-Stock-ExchangeThe market continues to trade on a gloomy note in the noon deals dragged down by losses in banking, realty, IT and energy shares.

At 12:32 hrs, the Sensex is down 365 points at 29,084. The NSE Nifty has so far managed to sustain above the 8,800-level, and is now down 118 points at 8,820

The broader market has extended its losses.  The CNX Midcap and the CNX Smallcap indices have dropped 0.5 per cent each at 13,277 and 5,805, respectively. The Nifty Junior has shed 0.3 per cent at 19,920.

Sectorwise, the Bank Nifty has slipped over 2 per cent. The CNX Infra and the CNX IT indices have tumbled nearly 2 per cent each. The CNX Energy and the CNX Realty indices have shed over a per cent each.

The CNX Pharma index, however, continues to trade in green zone - up 0.2 per cent.

Out of 50-Nifty stocks, only seven stocks are trading in green zone. Jindal Steel is the top Nifty gainer - up 7 per cent at Rs. 198 on winning Tara block in Chhattisgarh.

Hindustan Unilever has jumped over 2 per cent at Rs. 960. Lupin has added 1.4 per cent at Rs. 1,865.

Bajaj Auto, Dr Reddy's and Coal India have spurted around a per cent each, while Reliance Industries is trading on a flat note.

On the other hand, Sesa Sterlite is the top Nifty loser - down 4.1 per cent at Rs. 201. Gail India, UltraTech Cement and NTPC have tumbled over 3 per cent each at Rs. 389, Rs. 3,083 and Rs. 153, respectively.

Hindalco, Axis Bank, ICICI Bank and Tata Power are among the major losers.

The market breadth is negative in the noon deals. Out of 1,703 stocks have traded on the NSE -  916 stocks have declined, while 536 stocks have advanced. 

BHEL commissions supercritical Thermal unit in Bihar; stock down 2%

The share price has hit a high of Rs. 269 and a low of Rs. 263 on BSE today.

Shares of Bharat Heavy Electricals Ltd were trading down 2% at Rs. 265 on BSE today. The company commissions 660 MW Supercritical Thermal unit in Bihar.

The stock opened at Rs. 269 as against the previous close of Rs. 270 on BSE. It has hit a high of Rs. 269 and a low of Rs. 263 on BSE today.

Total traded quantity on the counter stood at over 1.32 lk shares on BSE.

Meanwhile, the benchmark BSE Sensex is trading at 29,088 down 361 points. 

Sensex, Nifty in red... Banking, IT slip

The Volatility index has jumped over 8.5 per cent. Bank Nifty is the top loser.

The market continues to trade on a weak note on the back of heavy selling across-the-sectors.

The BSE Sensex so far has plunged to a low of 29,017 and now is down 1.4 per cent (411 points) at 29,038.

Similarly, the Nifty tumbled to a low of 8,801 and now is down 1.4 per cent (132 points) at 8,806.

The volatility index - India VIX has jumped 8.6 per cent to 15.6875.

The broader market is trading marginally in red zone. The CNX Midcap and the CNX Smallcap indices have shed 0.2-0.3 per cent each at 13,314 and 5,824, respectively.

Barring the CNX Pharma index, all the sectoral indices are trading in the negative territory. The Bank Nifty is the top loser - down 2 per cent on account of profit-taking ahead of IIP and CPI data this Thursday.

Axis Bank is the top loser in banking space, down 3 per cent at Rs. 599, followed by Kotak Bank and Bank of India, which have tumbled 2.4 per cent each at Rs. 1,378 and Rs. 224, respectively.

ICICI Bank has dropped 2.3 per cent at Rs 340. Yes Bank has slipped 2.2 per cent at Rs. 838.

Canara Bank, HDFC Bank and Bank of Baroda are some of the significant losers.

So far, 46 stocks have registered 52-week high. Colgate Palmolive, Container Corporation of India, Dhanuka Agritech, Eros International, Eveready Industries, Glenmark Pharmaceuticals and Lotus Eye Care Hospital are among the prominent gainers.

Whereas, Antarctica, Birla Power Solutions, Educomp Solutions, Shree Ganesh Jewellery House, Vishnu Chemical are among the losers, which has hit 52-week low

Punjab Chem zooms 9% on robust FY16 outlook

The stock has skyrocketed by 39 per cent on strong volume in the last two trading sessions.

Punjab Chemicals and Crop Protection has extended gains in early deals after the company forecasted bumper profits in FY16.

The company on 5 March, 2015, issued a release to the BSE stating that it expects to earn a profit of Rs. 4.50 crore for the FY15, followed by a bumper profit of Rs. 20 crore in FY16.

The release further added that, for the nine-month period ended December 2014, the company had clocked a net profit of Rs. 4.08 crore. Gross sales from Rs. 314 crore at the end of December is expected to be around Rs. 400 crore at the end of the fiscal year.

Following the release, the stock was locked at the 20 per cent upper limit at Rs. 126 on Thursday. This morning the stock so far has touched a high of Rs. 146, and is now up 9 per cent at Rs. 137.

In the process, the stock has skyrocketed by 39 per cent in the last two trading sessions.

The counter has seen 6.6 times jump in volume with trades of around 68,000 shares as against the two-week daily average volume of around 9,000-odd shares on the BSE.

Meanwhile, the Sensex has shed 353 points at 29,096.

Sensex stuck at lower levels; Healthcare smiles

All sectoral indices are trading in red, except, the BSE healthcare index up 0.5 per cent at 17,074. 

Bombay-Stock-Exchange-BuildingThe market are witnessing heavy losses, on the back of sharp fall in index heavy-weights like banks, power, realty and IT.

At 10:46 AM, the S&P BSE Sensex is trading at 29,095 down 354 points, while NSE Nifty is trading at 8,824 down 114 points.

The broader market are under-performing the BSE benchmark index, the Midcap and Smallcap indices are down over 0.5 per cent each at 10,962 and 11,397, respectively.

All sectoral indices are trading in red, except, the BSE healthcare index up 0.5 per cent at 17,074.

The Bankex continues to trade lower by 2 per cent at 21,157. The IT, Power, Realty and Capital Goods indices are the other significant losers.

The breadth is extremely negative in morning trade - out of 2,152 stocks traded on the BSE so far 1,311 stocks have declined, while 745 stocks have advanced.

Among Sensex-50 stocks - Sesa Sterlite has plunged over 3.5 per cent at Rs. 202. Gail India and Axis Bank have slipped over 3 per cent each at Rs. 391 and Rs. 598, respectively.

Tata Power, ICICI Bank, Hindalco, NTPC, HDFC and Infosys are the other prominent losers.

On the other hand, Hindustan Unilever and Dr Reddy's have jumped over 1.5 per cent each at Rs. 955 and Rs. 3,494, respectively.

Coal India has also spurted almost a per cent at Rs. 367 

Suzlon Energy plans to sell forging and foundry company: Reports

The company invested Rs 1,000 crore in forging and foundry company. 


Suzlon Energy is reportedly planning to sell its forging and foundry company.

The company invested Rs 1,000 crore in  forging and foundry company.

"We are in the process of divesting stake in our forging company, SE Forge. If and when we get good valuation, we will exit as forging and foundry are not our core business," Suzlon Chairman Tulsi Tanti reported.

The company is focused on profitably rationalising all aspects of our overall business and plans to sell, which comprise 3-4 manufacturing units, senior company executive reported.

Mindtree stock plunges 6%

Mindtree's operating margins are expected to decline marginally. 

Mindtree stock was down by 6% at Rs. 1384 on reports that its March quarter organic growth (in US dollars) will be marginally negative.

The stock has hit a high of Rs. 1445 and a low of Rs. 1368.

Total traded quantity on the counter stood at over 4972 shares.

Mindtree's operating margins are expected to decline marginally.

Jindal Steel soars on winning Tara block

The stock has soared 7 per cent to Rs. 198 on the BSE.

Jindal Steel has soared to a high of Rs. 201 in early morning deals on winning yet another block at a bargain price.

According to media reports, the company has won the Tara block in Chhattisgarh for Rs 2,103 crore, with a bid at Rs. 126 per tonne.

The stock continues to trade on a robust note at Rs. 199, up 7 per cent. The counter has seen trades of around 670,000 shares so far on the BSE.

Meanwhile, the Sensex has slumped 347 points to 29,101.

Pipavav Defense stock plunges 6%

The stock has hit a high of Rs. 65 and a low of Rs. 63. 

Pipavav Defense and Offshore Engineering stock was lower by 6% at Rs. 64.

The stock has hit a high of Rs. 65 and a low of Rs. 63.

Total traded quantity on the counter stood at over 19.98 lk shares.

Anil Ambani, Chairman, Reliance ADAG Group, says he will leave no stone unturned to make Pipavav Defence and Offshore Engineering India’s biggest defence manufacturer. Anil Ambani, met with employees of Pipavav Defence and Offshore Engineering workers besides meeting Nikhil Gandhi of the Pipavav Group.

Pipavav Defence has one of the world's largest Infrastructure facilities - spread over 841 acres of land on the West Coast of India (Gujarat), Gulf of Cambay, with 210 acres of fully developed water front land and 250 acres developed for shipbuilding


Bharti Airtel to double 4G network by next fiscal

At present, Bharti Airtel has a base station of 20,000 and is planning to add another 20,000 next financial year.

Bharti Airtel is planning to double its 4G network by next fiscal, according to a media report.

At present, the telecom player has a base station of 20,000 and is planning to add another 20,000 next financial year, the report added.

Speaking at the sidelines of the Mobile World Congress 2015 event in Barcelona, Bharti Airtel Chairman Sunil Bharti Mittal said that the company has decided to roll out 4G.

Mittal further said that the company will be rolling out mobile tower sites to use its 20 MHz broadband wireless access spectrum, the report added.

Dilip Shangvi’s Sun Pharma market cap zooms over Rs. 26,000 crore in a week

Sun Pharma’s promoter Dilip Shanghvi recently overtook Mukesh Ambani as India's richest person, with shares of Sun Pharma and Sun Pharma Advanced Research Company, or Sparc (Sun Pharma's research and development arm), closing at record highs.

A truncated week saw the Indian equity market shut shop with marginal gains on Thursday amid highly volatile trading session.

Cement, infrastructure and metal stocks witnessed considerable amount of selling pressure as a result the market tanked heavily in intra-day trades. On the other hand, FMCG and Pharma shares saw unabated buying support.

Sun Pharma’s market cap zoomed by Rs. 26,162.98 crore to Rs. 2,14,845.98 crore, clocking the biggest gain among the Top- 10 Sensex firms. Sun Pharma’s promoter Dilip Shanghvi recently overtook Mukesh Ambani as India's richest person, with shares of Sun Pharma and Sun Pharma Advanced Research Company, or Sparc (Sun Pharma's research and development arm), closing at record highs.

The combined market valuation of top five Sensex companies rose by Rs. 48,822.93 crore last week. TCS, RIL, HDFC Bank and HDFC saw gain in market cap while ITC, ONGC, Infosys, CIL and SBI lost weight.

Sensex plunges 300 points...Nifty down 100 points

The BSE Mid-cap Index is trading down 0.64% at 10,975, whereas BSE Small-cap Index is trading down 0.44% at 11,407. 

With indices hitting new highs recently, and the big events of the budget and surprise rate cut over, opportunities are not going to come easy for the market. Before the result season kicks in, we are already hearing voices of concern to temper any better expectations. Infosys will reportedly announce its numbers later than usual while TCS will be in focus today after its CFO said that its results will be in line with last year following weakness in the energy segment.

At 9:30 AM, the S&P BSE Sensex is trading at 29,144 down 306 points, while NSE Nifty is trading at 8,843 down 95 points.

The BSE Mid-cap Index is trading down 0.64% at 10,975, whereas BSE Small-cap Index is trading down 0.44% at 11,407.

Some buying activity is seen healthcare sector, while banking, capital goods, IT, auto and power sectors are showing weakness on BSE.

Dr Reddy's Lab, HUL and Coal India are among the gainers, whereas Adani Power, Idea Cellular, TCS, Unitech and Yes Bank are losing sheen on BSE.

Global cues have nothing to suggest an immediate upmove. ECB will commence its monthly US$66.3bn bond purchases today. The events unfolding in Greece will be eyed. The ECB stimulus US stocks were lower on Friday on reports that US Federal Reserve could raise interest rates sooner than anticipated. Nonfarm payrolls rose 295,000 last month, after a downwardly revised 239,000 gain in January. Asian markets are mostly lower. Japan’s Nikkei has lost almost a percent while Hang Seng is down over 1%. China’s Shanghai is also in the red.

Hindalco and Jindal Power could be in focus after they bagged a mine each during the coal auctions on the third day.  Concerns of US sanctions for dealing with Iran could take hit sentiment of IOC, ONGC and OIL.

The Foreign portfolio investors (FPIs) have bought shares worth a net amount of Rs. 31,256 crore till March 5 this year, while in the debt segment, their net inflows stand at Rs. 37,296 crore, taking the total to Rs. 68,552 crore (USD 11.08 billion), as per the data compiled by the Central Depository Services Ltd (CDSL), says a report.

TCS, RIL, HDFC Bank and HDFC also saw rise in m-cap, while ITC, ONGC, Infosys, CIL and SBI shed weight. The m-cap of Sun Pharma surged Rs. 26,162.98 crore to Rs. 2,14,845.98 crore, the biggest gain among the top - 10 Sensex firms, says a report.

With a view to encourage availability of affordable housing to such borrowers, RBI has decided that in cases where the cost of the house/dwelling unit does not exceed Rs.10 lakh, banks may add stamp duty, registration and other documentation charges to the cost of the house/dwelling unit for the purpose of calculating LTV ratio.

The broader indices are under-performing the CNX Nifty index, the Midcap index has declined over 0.5 per cent at 13,261. The Nifty Junior and Smallcap indices are also down 0.4 per cent each at 3,453 and 19,900, respectively.

All sectoral indices are trading in red, the Bank Nifty, IT, Infra, PSU Bank and Auto indices are the top losers.

Hindalco is the top loser in the Nifty space, down nearly 4 per cent at Rs. 142, despite winning Dumri coal block.

Axis Bank, UltraTech Cement, ICICI Bank, Kotak Bank and Sesa Sterlite are some of the other significant losers.

Indices to open weak

With indices hitting new highs recently, and the big events of the budget and surprise rate cut over, opportunities are not going to come easy for the market.

Stock-Market
With indices hitting new highs recently, and the big events of the budget and surprise rate cut over, opportunities are not going to come easy for the market. Before the result season kicks in, we are already hearing voices of concern to temper any better expectations. Infosys will reportedly announce its numbers later than usual while TCS will be in focus today after its CFO said that its results will be in line with last year following weakness in the energy segment.
The indices are expected to open on a weak to flat note. Global cues have nothing to suggest an immediate upmove. ECB will commence its monthly US$66.3bn bond purchases today. The events unfolding in Greece will be eyed. 

The ECB stimulus US stocks were lower on Friday on reports that US Federal Reserve could raise interest rates sooner than anticipated. Nonfarm payrolls rose 295,000 last month, after a downwardly revised 239,000 gain in January. Asian markets are mostly lower. Japan’s Nikkei has lost almost a percent while Hang Seng is down over 1%. China’s Shanghai is also in the red.

Hindalco and Jindal Power could be in focus after they bagged a mine each during the coal auctions on the third day.  Concerns of US sanctions for dealing with Iran could take hit sentiment of IOC, ONGC and OIL.

Questioning the new GDP growth numbers, the RBI has asked the government for more information to figure out the "potential growth rate" — a key parameter in monetary policy decisions, says a report in ET.

The Foreign portfolio investors (FPIs) have bought shares worth a net amount of Rs. 31,256 crore till March 5 this year, while in the debt segment, their net inflows stand at Rs. 37,296 crore, taking the total to Rs. 68,552 crore (USD 11.08 billion), as per the data compiled by the Central Depository Services Ltd (CDSL), says a report.

TCS, RIL, HDFC Bank and HDFC also saw rise in m-cap, while ITC, ONGC, Infosys, CIL and SBI shed weight. The m-cap of Sun Pharma surged Rs. 26,162.98 crore to Rs. 2,14,845.98 crore, the biggest gain among the top - 10 Sensex firms, says a report.

With a view to encourage availability of affordable housing to such borrowers, RBI has decided that in cases where the cost of the house/dwelling unit does not exceed Rs.10 lakh, banks may add stamp duty, registration and other documentation charges to the cost of the house/dwelling unit for the purpose of calculating LTV ratio.

The ongoing auction of telecom spectrum in India is likely to increase the gap between the country's top telecommunication companies (telcos) and their smaller peers, Standard & Poor's Ratings Services said.

The Swachh Bharat cess will be levied on select services at the rate of up to 2 per cent, depending upon the need for funds to take forward the Prime Minister’s national cleanliness drive.

CCI has approved Reliance Industries' proposed deal to sell 49% stake in a textile firm to Chinese company RuYi, says report.Under the proposed deal, CSTT Co Holdings would acquire 49% stake in a textile company to be incorporated by RIL as its wholly owned subsidiary. RIL’s existing textile business is the founding business of RIL and operates under the well-known brand ‘Vimal’
SAP is planning to slash about 2,250 posts, or around 3 percent of its global workforce, according to reports. Last year, the company cut similar percentage of jobs, Stefan Ries, SAP's chief of human resources quoted.

Apple Inc will be added to the Dow Jones industrial average next month, says a report.


Top economic news of the day - March 09, 2015

The government has received investment proposals worth over Rs.253.5bn for electronics manufacturing in the country under the two schemes launched to boost domestic production of such goods. 

With government taking steps to improve the ease of doing business and attracting foreign investments, FDI inflows into the services sector grew by 44% to $2.29bn in the April-December period of the current fiscal. 
 
The government has received investment proposals worth over Rs.253.5bn for electronics manufacturing in the country under the two schemes launched to boost domestic production of such goods. 
 
Railway Minister has finally given green signal to the two much awaited big-ticket FDI proposals for setting up diesel and electric locomotive plants in Bihar at a cost of Rs.2400bn. 
 
The government is planning to form a committee to tackle issues related to exporters as well as boosting outward shipments.