Syngene Intl sparkles on debut

The stock is now trading around Rs. 314 as against the issue price of Rs. 250.

Syngene International has debuted at a smart 18 percent premium on the BSE at Rs. 295.

The company had successfully raised Rs. 550 crore from its recent IPO (Initial Public Offer). The issue was subscribed by nearly 24 times.

The stock so far in the day has touched a high of Rs. 314, and is now trading at Rs. 312. The counter has seen trades of around 2.65 million shares on the BSE.

Meanwhile, the Sensex is down 11 points at 28,100.

SBI Q1 Net Profit up 10.24% to Rs.3,692 cr

Total Income has increased from Rs. 4,07,392.10 million for the quarter ended June 30, 2014 to Rs. 4,47,308.70 million for the quarter ended June 30, 2015.

SBI  has announced the following results for the quarter ended June 30, 2015

The Unaudited Standalone results for the Quarter ended June 30, 2015:

The Bank has posted a net profit of Rs. 36924.30 million for the quarter ended June 30, 2015 as compared to Rs. 33490.80 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 4,07,392.10 million for the quarter ended June 30, 2014 to Rs. 4,47,308.70 million for the quarter ended June 30, 2015.

The Consolidated Results are as follows:

The Unaudited Consolidated results for the Quarter ended June 30, 2015

The Group has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 47135.70 million for the quarter ended June 30, 2015 as compared to Rs. 44481.50 million for the quarter ended June 30, 2014. Total Income has increased from Rs. 606209.30 million for the quarter ended June 30, 2014 to Rs. 629274.60 million for the quarter ended June 30, 2015.

22 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Indian Oil Corporation Ltd: The oil company is expecting its new LNG receiving terminal at Ennore, Tamil Nadu in joint venture with Tamil Nadu Industrial Development Corporation, to be ready by 2018.

Jet Airways: Jet Airways announced flat 30% discount in flights on both international and domestic sectors on base fares for all classes of travel to celebrate the country's 69th Independence Day.

IL&FS Transportation Networks Ltd: The company said that its consolidated net profit plunged 97.90 per cent to Rs 2.90 crore for the quarter ended June 30, on account of higher expenses and finance cost.

Tilaknagar Industries Ltd: Allied Blenders & Distillers (ABD) has called off talks to acquire Tilaknagar Industries due to differences over valuation of the latter, a top executive has been quoted as saying.

Wockhardt: The pharma company reported over five-fold jump in its consolidated net profit at Rs. 114.20 crore for the quarter ended June 30, 2015 mainly on account of robust sales.

Tata Motors: JLR will launch the new Discovery Sport in India on September 2, 2015 and retailers are now accepting bookings for the premium SUV.

Nestle: The United States Food & Drug Administration (FDA) has reportedly tested several shipments of Maggi noodles from India for lead content and has not found excess lead levels.

HDIL Ltd: The company has posted a net profit for Q1 stands at Rs. 59.2 crore.The total income at Rs. 266.7 crore.

Pantaloons Fashion Ltd: The net loss for the quarter was at Rs. 73 Crore.The total Income for the quarter stands at Rs. 439.3 Crore.

Ashiana Housing Ltd: The net profit for the quarter was at Rs. 6.7 Crore.The total income was at Rs. 22 Crore.

eClerx Services Ltd: The IT company has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 732.395 mn for the quarter ended June 30, 2015 where as the same was at Rs. 534.001 million for the quarter ended June 30, 2014.

Finolex Cables Ltd: The Company has posted a net profit of Rs. 48 crore for the quarter ended June 30, 2015 as compared to Rs. 34.6 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 579.5 crore for the quarter ended June 30, 2014 to Rs. 596.8 crore for the quarter ended June 30, 2015.

Jain Irrigation Systems Ltd: The company has posted a net profit of Rs. 187.60 million for the quarter ended June 30, 2015 as compared to Rs. 201.30 million for the quarter ended June 30, 2014.

Hindustan Petroleum Corporation Limited: The company has launched eco-friendly Bio-Diesel Blended Diesel B5 HSD in New Delhi, Visakhapatnam and Hyderabad.

IL&FS Transportation Networks Ltd: The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 2.9 crore for the quarter ended June 30, 2015 as compared to Rs. 137.7 crore for the quarter ended June 30, 2014. Total Income has increased from Rs. 1,648 crore for the quarter ended June 30, 2014 to Rs. 1,737.7 crore for the quarter ended June 30, 2015.

Sadbhav Engineering: The company has won bids for two NHAI projects worth Rs. 15.57 bn and it will develop sections of the six-lane Eastern Peripheral Expressway in Haryana and Uttar Pradesh.

Vedanta: The company has received necessary government approval and will resume operations from at its biggest iron ore mine at Codli in Sanguem taluka in Goa.

Allcargo: The company net profit at Rs. 29.20 crore in the quarter ended June 2015 as against Rs. 20.07 crore during the previous quarter ended June 2014. Sales rose 15.99% to Rs. 300.28 crore in the quarter ended June 2015 as against Rs. 258.89 crore during the previous quarter ended June 2014.

Bharti Airtel: The telecom company reduced rates of its home broadband plans by up to 30% for all new activations as the company won't be charging any premium for higher speed.

Chennai Petroleum Corporation Ltd: CPCL has lined up Rs. 1,393 crore capital expenditure plans for this year, out of which Rs. 1,300 crore would be spent for Resid upgradation project, as per media reports.

Biocon & Syngene Ltd: Biocon's research arm Syngene International which recently concluded its IPO, will make its debut on the stock market on Tuesday at 10:00 A.M.

ICICI Bank: The bank said it would charge small ticket home loan at its base rate- which now stands at 9.70%. The bank said that under the new scheme - ICICI- Saral Rural Housing Loan- loans can be availed by rural women between Rs0.5mn and Rs1.5mn for which the bank will charge a floating rate home loan of 9.70%.

Power Grid up on steady Q1 nos

The company's Q1FY16 net profit surged over 20 percent to Rs. 1,367 crore when compared with Rs. 1,137 crore in Q1FY15.

Power Grid Corporation spurted over 2 percent to a high of Rs. 141 on the back of steady Q1 performance.

The company's Q1FY16 net profit surged over 20 percent to Rs. 1,367 crore when compared with Rs. 1,137 crore in Q1FY15. Total income was up 17.5 percent at Rs. 4,788 crore from Rs. 4,075 crore.

The stock, however, has now pared gains and is up mere 0.5 percent at Rs. 139. The counter has seen trades of around 49,000 shares so far on the BSE.

Meanwhile, the Sensex is down 24 points at 28,070.

China devalues Yuan, Asian stocks tumble

In what came as a shocking news for the currency markets, the tightly-controlled Chinese currency depreciated to record low of almost 2% against the U.S. dollar, hitting a 3-year low.

In a bid to control the Chinese economy that has shown signs of fragility, China's central bank has devalued its currency Yuan, to make it more market-friendly.

In what came as a shocking news for the currency markets, the tightly-controlled Chinese currency depreciated to record low of almost 2% against the U.S. dollar, hitting a 3-year low. People's Bank of China (PBOC)'s statement said that it had changed the way it calculated the currency's daily midpoint against the greenback. It added that the move is a one-time adjustment, to relieve pressure off exports.

Markets did not react conducively to the decision of PBOC to devalue the yuan. Nearly all the Chinese indices are trading in red, with Shanghai Stock Exchange Composite Index down 0.69%, while CSI 300 Index relegating by 0.79%. Nikkei 225 fell by 0.23% and TOPIX declined by 0.13%.

The yuan dropped to 6.2950 per dollar, while the euro declined to $1.0985. 

Titan jumps on huge block deal

The stock jumped over 2% after around 1.94 crore shares changed hands in a single block deal.

Titan jumped over 2 percent to touch a high of Rs. 336 in opening trades this morning on the back of heavy volume.

The counter witnessed a huge block deal of around 1.94 crore shares around Rs. 335 on the BSE.

The stock is now up over a percent at Rs. 333, and around 1.95 crore shares have changes hands at the counter on the BSE.

Meanwhile, the Sensex has slipped 39 points to 28,063.

Sensex, Nifty in red; metal, auto stocks drag

The broader market is out-performing the CNX Nifty index, the Midcap and Smallcap indices have gained 0.3-0.5 percent each at 14,146 and 5,875, respectively.The Volatility index - India VIX - is now down 0.3 percent at 15.42.The IT index is also up 0.5 percent at 11,624.

The market after starting the day on a positive note - with the BSE Sensex up almost 100-odd points at 28,193 and the NSE Nifty up 23-odd points at 8,548, soon slipped into the negative zone amid reports that government will list GST bill for passage in the Rajya Sabha today.

The key benchmark indices touched a low of 28,082 and 8,509, respectively.

Now, the BSE Sensex is down 26 points at 28,075 and the NSE Nifty is down six points at 8,520.

The broader market is out-performing the CNX Nifty index, the Midcap and Smallcap indices have gained 0.3-0.5 percent each at 14,146 and 5,875, respectively.

The Volatility index - India VIX - is now down 0.3 percent at 15.42.

Among sectors, the CNX Metal, FMCG and Energy indices are down 0.3 percent each at 2,104, 20,730 and 8,520, respectively.

On the other hand, the PSU Bank index has jumped over a percent at 3,623. The Realty index has advanced almost a per cent at 185.

The IT index is also up 0.5 percent at 11,624.

NMDC is the top loser among Nifty-50 stocks, down 1.5 percent at Rs. 103. Tata Steel, Asian Paints, BPCL and BHEL have dropped over a percent each.

ITC, Hindalco, ACC and NTPC have shed almost a percent each.

On the other hand, Infosys and SBI (ahead of results) have jumped 1.5 percent each at Rs. 1,102 and Rs. 287, respectively.

Vedanta, Bank of Baroda, Cipla, Punjab National Bank, Lupin and Power Grid are the other notable gainers.