Investors will await GDP data for the March quarter even as a slowdown from the previous quarter is anticipated.
It almost feels like many FIIs sold in May and went away. F&O data indicates that traders appear bearish as June series begins. Fall in inflows from foreign funds has been an issue for the market and Sebi has voiced its concerns over the possible impact of MAT on foreign funds saying fear of MAT has rattled many offshore investors and must be dispelled at the earliest, according to a report.
Rollover in Nifty futures to June series fell below 70% as against a recent average of 75%. Open interest in Nifty futures have plummeted to almost two-year lows. Interest-rate sensitives saw some build-up ahead of the RBI policy next week.
The outlook is a subdued start. Investors will await GDP data for the March quarter even as a slowdown from the previous quarter is anticipated. Focus will be on the new entrants in the F&O space from today.
These include stocks like Dewan Housing, Kaveri Seeds, Ajanta Pharma, Britannia, South Indian Bank, Oil India, BEL, Amara Raja Battery, Castrol, CEAT, Bajaj Finance, Pidilite, Page Industry and SRF. Global attention remains on how Greece's debt talks unfold.
Shares of ONGC will be in focus after the company has posted a net profit of Rs. 39350.70mn for the quarter ended March 31, 2015 as compared to Rs. 48890mn for the quarter ended March 31, 2014. US markets were dull. The Dow fell marginally while S&P 500 shed 0.13%. Nasdaq Composite lost 0.17%. Among the Asian markets, China has recovered after crashing on account of brokers tightening margin trading requirements and the central bank reduced liquidity. Japan's Nikkei and Hong Kong's Hang Seng indices are trading higher too.
Aurobindo Pharma board has considered and recommended for issue of ONE bonus equity share for every ONE equity share held as on a Record Date to be determined. Sundaram Mutual Fund acquired 170,000 shares of Ador Welding at Rs. 209 each on the BSE in a bulk deal. The information of the seller was not available. Ador Welding was down 0.6 percent at Rs. 209. Arcadia Share & Stock Brokers bought 35,000 shares of Tirupati Industries (India) at an average price of Rs. 53.49. The seller was not known. The stock zoomed 9 percent to Rs. 54.20.
Prithvi Softech recorded a bulk deal at an average price of Rs. 22.34 on the BSE. Amrapali Capital and Finance Services, BB Realty, Beryl Drugs, BNRathi Securities, Excel Castronics, Gold Coin Health Foods, Unique Estates Developments, Unitech International and VCU Data Management were some of the other stocks to record bulk deals on Thursday.
SpiceJet reported a net profit of Rs 22.5cr for Q4FY15, a turnaround from the net loss of Rs 321.5cr for the same quarter last year. On an EBITDA basis, SpiceJet reported positive Rs 80cr, against negative Rs 235cr the previous year. Astrazeneca Pharma soared 13.7% to Rs. 976 on the back of Q4 turnaround. The company reported a Q4 standalone net profit of Rs. 38.13 crore as against net loss of Rs. 2.57 crore in the corresponding quarter a year ago.
Orchid Chemicals & Pharmaceuticals advanced 2.2% to Rs. 50.30 after the company received US Food and Drug Administration (USFDA) nod for hypertension drug Felodipine. Gammon Infrastructure Projects skyrocketed over 12% to Rs. 12.51 after the Central Bank allowed foreign institutional investors (FIIs) and foreign portfolio investors (FPIs) to invest up to 49 per cent of the paid-up capital in the company. Godrej Industries gained 3.5% at Rs. 376 on the back of 21.9 percent growth in Q4 consolidated net at Rs. 139 crore, as against Rs. 114 crore in Q4FY14. Max India slipped 2% to Rs. 471 on the back of reverse turnaround in the March quarter. The company reported a net loss of Rs. 8.25 crore for Q4FY15 as against a net profit of Rs. 8.36 crore in Q4FY14.
Bhushan Steel slumped to a fresh 52-week low at Rs. 53.50 on the back of widening Q4 losses. The company incurred a net loss of Rs. 361 crore for Q4FY15, as against a net loss of Rs. 19.57 crore in Q4FY14. The stock finally ended 1.3 percent lower at Rs. 57.20.
Adlabs Entertainment plunged 10.3% to Rs. 148 on incurring a net loss of Rs. 31.15 crore in Q4FY15, as against Rs. 30.05 crore in Q4FY14. Seamec zoomed 5.3% to Rs. 116 on reporting over two-fold jump in Q4 net profit at Rs. 27.85 crore as against Rs. 12.10 crore in a year ago period. Bata India was up 1% at Rs. 1,051 on reporting 48% surge in Q4 net profit at Rs. 58.43 crore for the quarter ended March, 2015, when compared with Rs. 39.44 crore in a year ago period.
