Friday 15 July 2016

Sensex, Nifty to open on a positive note

Asian markets are trading higher. Japan's Nikkei surged 1.14%, Hong Kong's Hang Seng was up 0.65% and Shanghai Composite are trading marginally higher.

Stock-market-bull
The indices are set to open on a positive note. Asian markets are trading higher. Japan's Nikkei surged 1.14%, Hong Kong's Hang Seng was up 0.65% and Shanghai Composite are trading marginally higher.

US stocks closed higher on Thursday. The Dow Jones Industrial Average closed at an all-time high for the third consecutive day, ending the day up 0.73% at 18,506 points. The S&P 500 ended half a per cent higher, at 2,163 points. The Nasdaq Composite had its sixth positive day of gains, closing half a per cent higher at 5,034 points.

On the other hand, the India's wholesale price index (WPI) rose 1.62% YoY in the month of June as compared to 0.79% in May.

Finance Minister Arun Jaitley reportedly said that those who have not yet declared their undisclosed foreign assets will face the consequences.“One of the objectives behind 2015 black money law was providing an opportunity to assessees to comply and some people made use of that opportunity,” Finance Minister Arun Jaitley said.

On the international front, the Bank of England has held the UK's main interest rate at 0.5% despite speculation that it would cut rates.The Monetary Policy Committee (MPC) voted 8-1 to leave rates unchanged, but minutes of the meeting showed most members expect the Bank will take some action next month.

Among other stocks in focus:

Infosys: The IT company will announce its Q1 results today.

Reliance Industries Ltd: Reliance Industries Ltd will announce its Q1 result today.

TCS: The company registered a net profit of Rs.6,317 crore, up 9.9% yoy but down 0.4% qoq. The operating margin stood at 25.1% while operating profit was registered at Rs.7,347 crore.

HDFC: The company has raised Rs.3,000 crore through these rupee-denominated bonds that got over-subscribed by 4.3 times.

Wockhardt: Drug major Wockhardt Ltd has sought shareholders’ approval for raising up to Rs.1,200 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

DCB Bank: The bank posted net profit of Rs.47.01 crore for the first quarter ended June, which was marginally up from Rs.46.87 crore posted in the corresponding quarter of FY16.

PNC Infratech: PNC Infratech has been declared the L1 (lowest) bidder for the project of four laning / two laning with paved shoulders from 0.00 km to 83.453 km of Dausa-Lalsot-Kauthun section of NH-11 A (Extension) in the state of Rajasthan under NHDP IV, on Hybrid Annuity Model for a bid project cost of Rs.881 crores.

Vimta Labs: The company said its net profit rises 114% from a year ago to Rs.2.71 crore in June quarter as compared to Rs.1.26 crore a year ago.

Rajesh Exports: The company has bagged Rs. 786 crore worth export order.

Titan Company Ltd: The company said that it would acquire around 62% of shares in online jewellery Carat Lane Trading Pvt Ltd, for a consideration of Rs.3.57 billion.

Can Fin Homes: The copany has reported a jump of 54.9% in the April-June quarter's net profit at Rs.49.72 crore.

SPML Infra: SPML Infra said its joint venture with Tata Projects has secured three new orders for design and construction of sewerage systems with provision of treated wastewater reuse from the Rajasthan government.

Vedanta: Vedanta Resources plc has repaid in full and redeemed the $514.8 million of outstanding amount on its 5.5% 2016 convertible bonds due on 13th July 2016.

Power Finance Corporation: The board of directors of the company has approved increase in the authorized share capital of the company from present Rs.2,000 crore divided into 200 Crores equity shares of Rs.10 each to Rs. 10,000 crores divided into 10,000 crore equity shares of Rs. 10 each and corresponding amendment in the capital clause of Memorandum of Association of the company.

Cyient:
 The consolidated net profit surged 12% to Rs.74 crore in Q1 FY17 as against Rs.66 crore.

Dishman Pharma:Dishman Pharmaceuticals and Chemicals' wholly owned subsidiary, namely Carbogen Amcis AG., Switzerland, has successfully completed inspection from United States Food and Drug Administration (USFDA) for its two sites located at Aarau and Neuland without any adverse observations and received the Establishment Inspection Report.

Granules Pharma: Granules Pharmaceuticals Inc (GPI), a wholly-owned arm of Granules India Ltd, will be acquiring 12.5% stake in the US-based USpharma.

Hero MotoCorp: Hero MotoCorp launched the new Splendor iSmart 110 – the first motorcycle to be developed completely in-house, with Hero’s own technology.

Spice Mobility: Spice Mobility Ltd has announced that Spice Digital Limited (SDL), a subsidiary of the Company, has acquired further 3.07% stake in Sunstone Learning.

Results: Reliance Industries, Infosys,Mastek, LIC Housing Finance, NIIT Technologies, Steel Strips Wheels Ltd, Linear Industries, Mahashree Trading, Hatsun Agro Product, Golkonda Aluminium Extrusions, Amal, India Gelatine & Chemicals

Global Data: CNY M2 Money Supply (YoY) (Jun), CNY Industrial Production (YoY) (Jun),CNY NBS Press Conference SPEECH, CNY Gross Domestic Product (YoY) (Q2), CNY Gross Domestic Product (QoQ) (Q2),CNY Retail Sales (YoY) (Jun),CNY Urban investment (YTD) (YoY) (Jun), EUR Global Trade Balance (May), EUR Trade Balance EU (May), EUR Trade Balance n.s.a. (May), EUR Trade Balance s.a. (May),EUR Consumer Price Index (MoM) (Jun),EUR Consumer Price Index - Core (MoM) (Jun), EUR Consumer Price Index - Core (YoY) (Jun), EUR Consumer Price Index (YoY) (Jun),GBP BOE's Governor Carney speech SPEECH, USD Current Account (Q2), USD NY Empire State Manufacturing Index (Jul), USD Retail Sales ex Autos (MoM) (Jun), USD Retail control (Jun),USD Retail Sales (MoM) (Jun), USD Consumer Price Index Core s.a (Jun),USD Consumer Price Index (MoM) (Jun), USD Consumer Price Index n.s.a (MoM) (Jun),USD Consumer Price Index Ex Food & Energy (MoM) (Jun),USD Consumer Price Index (YoY) (Jun), USD Consumer Price Index Ex Food & Energy (YoY) (Jun), CAD Manufacturing Shipments (MoM) (May),USD Capacity Utilization (Jun), USD Industrial Production (MoM) (Jun),GBP CB Leading Economic Index (Jun), USD Reuters/Michigan Consumer Sentiment Index (Jul)PRELIMINAR, USD Business Inventories (May)

Trends in FII flows: The domestic institutional investors (DIIs) were net sellers of Rs.8.74 bn in the cash segment on Thursday, while FIIs were net buyers of Rs.8.69 bn, as per the provisional figures released by the NSE.

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