BHEL Q1 PAT falls 82% to Rs. 33.89 cr

Total Income has decreased from Rs. 5,502.8 crore for the quarter ended June 30, 2014 to Rs. 4,854.1 crore for the quarter ended June 30, 2015.

Bharat Heavy Electricals Ltd has posted a net profit of Rs. 33.89 crore for the quarter ended June 30, 2015 as compared to Rs. 193.5 crore for the quarter ended June 30, 2014. Total Income has decreased from Rs. 5,502.8 crore for the quarter ended June 30, 2014 to Rs. 4,854.1 crore for the quarter ended June 30, 2015.

The company reported sales stood at Rs. 4,280 crore as compared to Rs. 5,067 crore in a year ago period.

The company has an outstanding order book of Rs. 1.16 lk crore.

Tata Motors gains ahead of Q1 results

The company is scheduled to announce its results today.

Tata Motors continues to trade on a firm note on the Bombay Stock Exchange (BSE), on hopes that the company may report good earnings.

The company is scheduled to announce its results today.

So far during the day, the stock has climbed to a high at Rs 390, and is now up 1.5 percent at Rs 388.

The counter has logged trades of around 476,000 shares as compared to its daily average volume of 1 million shares.

Meanwhile, the BSE Sensex is flat at 28,292.

Tata Motors in Focus Ahead of Q1 Earnings

Tata Motors shares traded flat ahead of its June quarter results due later in the day. Analysts will be closely tracking how the Jaguar Land Rover-maker has performed in the key market of China.
 
Tata Motors shares are down 25 per cent over the last three months amid rising concerns about the slowdown in sales in China - the world's fastest-growing market. China caters to around one third of JLR's demand. On a consolidated level, JLR caters to around 80 per cent of Tata Motors annual sales.

Tata Motors is expected to post a 42 per cent year-on-year decline in its consolidated net profit at Rs 3,136 crore, according to consensus Street estimates. Its revenue is likely to remain flat year-on-year at Rs 64,070 crore.



Analysts like Ambareesh Baliga are bullish on Tata Motors after the recent correction. Tata Motors is looking attractive at current levels one should look at buying this stock, Mr Baliga said.



However, Nischal Maheshwari of Edelweiss Capital asked investors to avoid the stock. "There is value in Tata Motors but why would you want to own a stock which gets majority of its earnings from abroad and specially from China where there are lot of problems," he said.



As of 9.41 a.m. Tata motors shares traded 0.26 per cent higher at Rs 383.90 apiece, compared to 0.1 per cent decline in the broader Nifty.

Crude oil in New York falls to lowest since March

On the New York Mercantile Exchange, the West Texas Intermediate (WTI) futures dropped 49 cents, or 1.1%, to close at US$44.66 a barrel, its lowest settlement price since March.

Crude oil prices in New York fell below US$45 per barrel amid continued concern over the ongoing global supply glut, a stronger US dollar and weakness in the Chinese economy.

On the New York Mercantile Exchange, the West Texas Intermediate (WTI) futures dropped 49 cents, or 1.1%, to close at US$44.66 a barrel, its lowest settlement price since March.

On the other hand, Brent crude oil fell 7 cents, or 0.1%, to US$49.52 a barrel on London’s ICE Futures exchange.

Meanwhile, US oil production rose last week by 52,000 barrels a day to 9.5 million barrels a day amid peak summer demand season.

Separately, Iranian officials asserted that Tehran intends to quickly increase its crude oil production, once the international sanctions are lifted following the recently concluded nuclear deal.

Gold prices fall below Rs. 25,000 on weak global cues

Globally, gold prices have taken a hit in anticipation of rate hike by the US Federal Reserve. A stronger dollar in view of the Fed rate hike has also dented sentiment for the precious metal.

Gold prices in India dropped below Rs. 25,000 per 10 gram on Thursday even as international prices of the yellow metal continued to hover around five-year lows.

In Delhi, gold of 99.9% and 99.5% purity fell by Rs. 40 each to INR 24,980 and INR 24,830 per 10g, respectively, its weakest level since 6th August 2011. Domestic gold prices have now lost INR 280 in the last three days.

In the domestic market, demand from retail investors is said to be low, as they expect gold prices to sink further.

Globally, gold prices have taken a hit in anticipation of rate hike by the US Federal Reserve. A stronger dollar in view of the Fed rate hike has also dented sentiment for the precious metal.

Gold prices in London are heading for a seventh straight week of losses, the longest stretch in a decade.

Meanwhile, Gold futures traded in New York finished higher on Thursday as US stocks declined a day ahead of the monthly jobs report.

Gold futures for August delivery settled up US$4.50, or 0.4%, to US$1,090.10 an ounce, after closing at US$1,085.60 in the prior session.

Media Stock Selloff Leaves Wall Street Bruised

Wall Street ended sharply lower on Thursday as weak earnings reports from media companies stirred fears that more viewers are ditching cable TV, dragging the sector to its worst two-day loss since the financial crisis.

The selloff was compounded by nervousness ahead of key jobs data on Friday that could provide clues about the timing of the first Federal Reserve interest rate hike in almost a decade.

Viacom fell 14.22 per cent to its lowest in almost four years after reporting lower-than-expected quarterly revenue due to weakness in its cable TV business. Walt Disney was off 1.79 per cent and down for a second session after it lowered profit guidance for its cable networks unit on Tuesday.

The S&P 500 media index lost 2.12 per cent and notched its biggest two-day fall since November 2008, with Time Warner, Comcast and CBS all in the red and Twenty-First Century Fox down 6.4 per cent.

"All the media stocks are down and it seems people just want to get out of the sector at any cost and take any loss," CLSA analyst Vasily Karasyov said.

Viacom's results and Disney's warning put the spotlight on a trend of viewers shifting from cable TV to Internet-based services such as Netflix, which rose 2.21 per cent.

The Dow Jones industrial average fell 0.69 per cent to end at 17,419.75 and the S&P 500 lost 0.78 per cent to 2,083.56. The Nasdaq Composite dropped 1.62 per cent to 5,056.44, its biggest one-day tumble since early July.

Eight of the 10 major S&P sectors were lower, with the health index's 2.09 per cent fall leading the decliners. Allergan fell 5.1 per cent after the Irish drugmaker reported a second-quarter loss.

In other earnings-driven stock moves, Tesla fell 8.88 per cent and Keurig Green Mountain slumped as much as 29.75 per cent after reporting disappointing numbers.

Investors were also jittery ahead of the release of U.S. non-farm payroll numbers, which are expected to have risen by 223,000 in July, matching gains in June.

The Fed has said it will raise rates only when it sees a sustained recovery in the economy.

After the bell, Zynga fell 6 per cent after it posted a disappointing quarterly report.

With about three-quarters of the S&P 500 companies having reported, second-quarter earnings are estimated to have increased 1.6 per cent while revenues are projected to have fallen 3.4 per cent.

However, valuations look stretched. The S&P 500 is trading at a 25 per cent premium to its historical median price-to-sales ratio, Jack Ablin, chief investment officer at BMO Private Bank said in a note to clients.

In Thursday's session, declining issues outnumbered advancing ones on the NYSE by a rate of 1.47 to 1. On the Nasdaq, that rate was 2.46 to 1 favouring decliners.

The S&P 500 index posted 18 new 52-week highs and 44 new lows; the Nasdaq Composite saw 64 new highs and 169 new lows.

About 7.8 billion shares changed hands on all U.S. exchanges, well above an average 6.77 billion in the past five sessions, according to BATS Global Markets data.

Your Provident Fund Money Now Enters Stock Market: 10 Facts

In a historic move, retirement fund body Employees' Provident Fund Organisation (EPFO) on Thursday kick-started its investment in the stock markets for the first time.

Here is a 10-Point Cheat-Sheet

1) The provident fund body plans to invest Rs 5,000 crore this fiscal year.

2) Labour Minister Bandaru Dattatreya told NDTV that EPFO plans to gradually increase its investment in stock markets. The initiative to invest in stock markets was started to provide better returns for subscribers, he added. Currently, the rate of interest on provident fund deposits is 8.75 per cent.

3) The Labour Ministry had notified new investment pattern for EPFO in April, allowing the body to invest minimum of 5 per cent and up to 15 per cent of its funds in equity or equity related schemes. However, the EPFO management has decided to only invest 5 per cent of its incremental deposits in stock market during the current fiscal.

4) EPFO has Rs 8.5 lakh crore under its management, most of it invested in government bonds. It has a base of around 6 crore subscribers.

5) EPFO will invest in stock markets through exchange traded funds (ETF) that track the country's two main share indices - Sensex and Nifty. An ETF comprises a basket of stocks and it trades on an exchange like a stock and tracks an index.

6) EPFO's equity investment will be run by State Bank of India's asset management unit.

7) Analysts have welcomed the pension fund's decision to buying stocks. They hope that like state-run Life Insurance Corp of India, EPFO can be a steady source of funds especially in times of market turbulence.

8) But some analysts were disappointed at the initial amount. "The government needs to increase its investment into equities," said G Chokkalingam, founder of Equinomics, a research and fund advisory firm.

9) EPFO's initial amount of Rs 5,000 crore is only a fraction of the Rs 47,000 crore that Life Insurance Corp invested in stocks in the year to March 2015.

10) Indian shares were Asia's second-best performers in dollar terms last year but have retreated after hitting record highs in March. (With Agency Inputs)

Asian Shares Track Wall Street Lower Ahead of Jobs Data

Tokyo: Asian shares got off on the back foot on Friday, on track for a weekly loss, following Wall Street lower as caution reigned ahead of U.S. employment data that may help determine whether the Federal Reserve could raise interest rates as early as next month.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent in early trading, down about 1.6 per cent for the week, after U.S. equities logged solid losses in the wake of disappointing earnings results.

Japan's Nikkei stock index fell 0.2 per cent as investors awaited the outcome of the Bank of Japan's two-day policy meeting later this session, at which it is widely expected to maintain its stimulus programme.

The key focus for investors came later in the global day, when economists expect the U.S. employment report to show that 223,000 jobs were created in July. On Thursday, U.S. jobless claims rose from the previous week, though the positive trend was intact.

"Today's report on the US labour market is likely to be of even greater than usual interest because of the Fed's 'data dependent' approach to policy in what remains of 2015," strategists at Barclays said. The dollar index stood at 97.810, on track for a weekly gain of about 0.5 per cent, its second straight weekly rise as this week's economic data backed expectations that the U.S. central bank will deliver a rate hike next month.

The dollar was steady on the day at 124.73 yen, while the euro edged slightly higher to $1.0924. Sterling was not far from overnight lows hit after the Bank of England sent a dovish message, with only one member voting for an immediate rate hike versus expectations for at least two members. The pound was flat at $1.5511, after falling as low as $1.5465.

In commodities trading, U.S. crude futures edged up after dropping to multi-month lows overnight after a large drop in U.S. crude inventories failed to boost prices.

U.S. crude was up about 0.2 per cent at $44.76 after skidding as low as $44.20 on Thursday, not far from the six-year low of $42.05 hit in March. Brent rose 0.2 per cent to $49.62 a barrel, pulling away from Thursday's six-month low. 

Sensex Likely to Edge Lower; Tata Motors to be in Focus

8:58 a.m.: Market expert Ambareesh Baliga says that Nifty crossing 8,600 will be difficult as reforms have taken a back seat and macro numbers are not looking attractive.

8:53 a.m.: Eros International: Eros will be in focus today as Salman Khan Starrer "Bajrangi Bhaijaan" crossed Rs 300 crore mark 20 days post its release.

8:50 a.m.: The initial US jobless claims edged up by 3000. Crucial jobs report will be released today. Analysts expect that 223,000 jobs were created in July. This data is most closely watched data ahead of Fed Sept rate decision.

8:30 a.m.: The foreign institutional investors purchased shares worth Rs 108.93 crore while the domestic institutional investors sold shares worth Rs 111.78 crore.

8:10 a.m.: Below are the stocks which will be in focus today:

From the large-cap space, Tata Motors, Mahindra & Mahindra, BHEL and Grasim Industries will be on traders' radar as all these companies will report their first quarter numbers later in the day.

From the mid-cap space, Finolex Industries, Future Retail, Gateway Distriparks, Gujarat State Petronet, Neyveli Lignite, Repco Home Finance, Sobha and Kalpatru Power will be in focus today as these companies will also reporte their first quarter numbers.

Vedanta: Vedanta shares will be in limelight today as company said that it will continue to engage with its shareholders. Synergies from merger with Cairn India will accrue to all shareholders.

Tata Steel: Reports suggest that Tata Steel is likely to undergo debt refinancing exercise to bring down interests cost.

Coal India: Economic Times report suggests that Coal India will invest Rs 62,590.50 crore by 2020 to produce 908 million tonnes of coal.

NTPC: NTPC commissioned unit 1 of 500 mw Vindhyachal Station. Total installed capacity of Vindhyachal Station is at 4,760 megawatt with this total installed capacity of NTPC group is at 45,548 megawatt.

7:50 a.m.: The Sensex and Nifty are likely to edge lower tracking subdued trading of Nifty futures on the Singapore Stock Exchange. The Nifty traded on the Singapore Exchange also known as the SGX Nifty was down 0.35 per cent or 30 points at 8,583.

Meanwhile, most of the Asian markets edged lower tracking weakness in the US markets. The weakness in Asian shares came ahead of the US employment data that will help US Fed to determine in raising interest rates next month.

Japan's Nikkei slipped 0.28 per cent, KOSPI fell 0.15 per cent and Taiwan Weighted was down 0.4 per cent.

Meanwhile, Chinese shares moved up after the Chinese government infused funds into the stock markets. Shanghai Composite and Shanghai Shenzen advanced over 2 per cent each.

Overnight, Wall Street ended sharply lower on Thursday as weak earnings reports from media companies stirred fears that more viewers are ditching cable TV, dragging the sector to its worst two-day loss since the financial crisis.

The Dow Jones industrial average fell 0.69 per cent to end at 17,419.75 and the S&P 500 lost 0.78 per cent to 2,083.56. The Nasdaq Composite dropped 1.62 per cent to 5,056.44, its biggest one-day tumble since early July.