Down and Out! L&T,​ ​J​ust Dial among 403 scrips that hit 52-week low

The fall in the index was led by losses in BHEL, Adani Ports, Hindalco, L&T and ONGC. The fall in the index was led by losses in capital goods, oil & gas, metal, consumer durable,pharma, energy, banks, and auto stocks.

The Indian equity market ha​s extended losses for the fifth straight session. The fall in the index was led by losses in BHEL, Adani Ports, Hindalco, L&T and ONGC. The fall in the index was led by losses in capital goods, oil & gas, metal, consumer durable,pharma, energy, banks, and auto stocks.

A total of 403 stocks touched a new 52-week low on the NSE are Aarti Drugs Limited, Aban Offshore Limited, ABG Shipyard Limited, Adani Enterprises Limited, Adani Ports and Special Economic Zone Limited, Adhunik Metaliks Limited, Adlabs Entertainment Limited, Accel Frontline Limited, AGC Networks Limited, AIA Engineering Limited, Akzo Nobel India Limited, Allahabad Bank, Alok Industries Limited, Anant Raj Limited, Andhra Bank, Ansal Properties & Infrastructure Limited, Ansal Housing and Construction Limited, Apcotex Industries Limited, Aro Granite Industries Limited, Automotive Stampings and Assemblies Limited, Ashiana Housing Limited, Agro Tech Foods Limited, Aurionpro Solutions Limited, Austral Coke & Projects Limited, Autoline Industries Limited, AYM Syntex Limited, Bajaj Electricals Limited, Balkrishna Industries Limited, Balmer Lawrie & Company Limited, Bank of Baroda, Bank of India, BASF India Limited, Bayer Cropscience Limited, Bombay Burmah Trading Corporation Limited, Bedmutha Industries Limited, BF Investment Limited, BF Utilities Limited, BGR Energy Systems Limited, Bharat Forge Limited, Bharat Gears Limited, Bharat Heavy Electricals Limited, Bhushan Steel Limited, Binani Industries Limited, Birla Corporation Limited, Birla Cotsyn (India) Limited, Birla Ericsson Optical Limited, Bombay Dyeing & Mfg Company Limited, Bosch Limited,  Canara Bank, C & C Constructions,  Career Point Limited, Credit Analysis And Research Limited, Castex Technologies Limited, Castrol India Limited, Celebrity Fashions Limited, Central Bank of India, Centum Electronics Limited Century Plyboards (India) Limited Century Textiles & Industries Limited CESC Limited, Chambal Fertilizers & Chemicals Limited, Clariant Chemicals (India) Limited, Coffee Day Enterprises Limited,Colgate Palmolive (India) Limited, Container Corporation of India Limited, Coromandel International Limited, Corporation Bank, Cox & Kings Limited, Crompton Greaves Limited, Cyber Media (India) Limited, Cyient Limited, D B Realty Limited, DCM Limited, Delta Corp Limited, Den Networks Limited, Dena Bank, Dhanlaxmi Bank Limited, Dewan Housing Finance Corporation Limited, Diamond Power Infra Ltd, DLF Limited, D-Link (India) Limited, Dolphin Offshore Enterprises (India) Limited, Dredging Corporation of India Limited, DS Kulkarni Developers Limited, Dynamatic Technologies Limited, Edelweiss Financial Services Limited, Elder Pharmaceuticals Limited, Elecon Engineering Company Limited, Emkay Global Financial Services Limited, Engineers India Limited, Eros International Media Limited, Esab India Limited, Everest Industries Limited, Excel Industries Limited, The Federal Bank Limited, Financial Technologies (India) Limited, Gammon Infrastructure Projects Limited, Gandhi Special Tubes Limited, Garden Silk Mills Limited, GATI Limited, Gateway Distriparks Limited, Great Eastern Shipping Company Limited, Glenmark Pharmaceuticals Limited.

Gujarat Mineral Development Corporation Limited, Goa Carbon Limited, Godrej Industries Limited, Grindwell Norton Limited, Gujarat State Fertilizers & Chemicals Limited, GOL Offshore Limited, Gujarat Alkalies and Chemicals Limited, Gujarat Fluorochemicals Limited, GVK Power & Infrastructure Limited, HBL Power Systems Limited, HCL Technologies Limited, HEG Limited, HeidelbergCement India Limited, Hercules Hoists Limited, Hester Biosciences Limited,
Hexa Tradex Limited, Hinduja Global Solutions Limited, HIL Limited Hindalco Industries Limited, Hindustan Copper Limited, Hindusthan National Glass & Industries Limited, Hindustan Oil Exploration Company Limited, Hinduja Foundries Limited, Hotel Leela Venture Limited, Indiabulls Ventures Limited, ICICI Bank Limited,, IDBI Bank Limited, IDFC Limited, IFB Industries Limited, IFGL Refractories Limited, IL&FS Engineering and Construction Company Limited, IL&FS Transportation Networks Limited, Indian Metals & Ferro Alloys Limited, India Glycols Limited, Indian Bank, India Nippon Electricals Limited,, Indoco Remedies Limited, Indraprastha Medical Corporation Limited, Inox Wind Limited, Insecticides (India) Limited, Indian Overseas Bank, IRB Infrastructure Developers Limited, ISMT Limited, IL&FS Investment Managers Limited, IVRCL Limited, Jaihind Projects Limited, Jay Bharat Maruti Limited, JBF Industries Limited, JCT Electronics Limited, Jindal Saw Limited,, Jindal Steel & Power Limited, Jain Irrigation Systems Limited, JK Cement Limited, JK Tyre & Industries Limited, JM Financial Limited, Jaiprakash Associates Limited, Jaypee Infratech Limited, Jaiprakash Power Ventures Limited, Jindal Stainless Limited ,Jindal Stainless (Hisar) Limited, JSW Energy Limited, Jubilant Foodworks, Just Dial Limited, Kalpataru Power Transmission Limited, Kamat Hotels (I) Limited, Karma Energy Limited, Kaushalya Infrastructure Development Corporation Limited, Kemrock Industries and Exports Limited, Kirloskar Brothers Limited, Kitex Garments Limited, Kolte - Patil Developers Limited, Kopran Limited, Kotak Mahindra Mutual Fund, The Karnataka Bank Limited, L&T Finance Holdings Limited, Lakshmi Machine Works Limited, LG Balakrishnan & Bros Limited Liberty Shoes Limited, Lincoln Pharmaceuticals Limited, Larsen & Toubro Limited, Lux Industries Limited, Bank of Maharashtra, Mahindra CIE Automotive Limited, Maharashtra Seamless Limited, Manaksia Limited, Mangalam Cement Limited, Marksans Pharma Limited, Mastek Limited, Max India Limited, Maxwell Industries Limited, MBL Infrastructures Limited, Mcleod Russel India Limited, Multi Commodity Exchange of India Limited, MEP Infrastructure Developers Limited, Merck Limited, MM Forgings Limited, MMTC Limited, MOIL Limited, Monsanto India Limited,Monte Carlo Fashions Limited, Morarjee Textiles Limited, MRF Limited, MSP Steel & Power Limited, Munjal Auto Industries Limited, Munjal Showa Limited, Murli Industries Limited, State Bank of Mysore, Nahar Capital and Financial Services Limited, Nath Bio-Genes (India) Limited, National Steel And Agro Industries Limited, Navneet Education Limited, Nava Bharat Ventures Limited, Nestle India Limited, Network18 Media & Investments Limited, Neyveli Lignite Corporation Limited, NMDC Limited, Noida Toll Bridge Company Limited, Nalwa Sons Investments Limited, Oil India Limited, Oil Country Tubular Limited, OCL Iron and Steel Limited, Oil & Natural Gas Corporation Limited, Opto Circuits (India) Limited, Orchid Pharma Limited, Oriental Bank of Commerce, The Orissa Minerals Development Company Limited, PAE Limited, Palred Technologies Limited, Panacea Biotec Limited, Huhtamaki PPL Limited, Parabolic Drugs Limited, Paras Petrofils LimitedPeninsula Land Limited Power Finance Corporation Limited PTC India Financial Services Limited PG Electroplast Limited Phillips Carbon Black Limited Pilani Investment and Industries Corporation Limited Pitti Laminations Limited, Punjab National Bank, Pochiraju Industries Limited, Poly Medicure Limited, Prabhat Dairy Limited, Precot Meridian Limited, Premier Limited, Prism Cement Limited, Punjab & Sind Bank, Puravankara Projects Limited, Rain Industries Limited, Rainbow Papers Limited, Rane Holdings Limited, Ratnamani Metals & Tubes Limited, Raymond Limited, Rashtriya Chemicals and Fertilizers Limited, Rural Electrification Corporation, Repco Home Finance Limited, Rico Auto Industries Limited, Ramkrishna Forgings Limited, Radha Madhav Corporation Limited, Rolta India Limited, R. S. Software (India) Limited, R Systems International Limited, Sadbhav Engineering Limited, Sadbhav Infrastructure Project Limited, Steel Authority of India Limited, Salzer Electronics Limited, State Bank of Bikaner and Jaipur, State Bank of India, State Bank of Travancore, Schneider Electric Infrastructure Limited, Seamec Limited, Selan Exploration Technology, Star Ferro and Cement Limited, Shakti Pumps (India) Limited, Shalimar Paints Limited, Sharda Motor Industries Limited, Shreyas Shipping & Logistics Limited, Shriram EPC Limited Shyam Century Ferrous Limited, Simplex Infrastructures Limited Sintex Industries Limited, SKM Egg Products Export (India) Limited, SML Isuzu Limited, Snowman Logistics Limited, Sona Koyo Steering Systems Limited, Savita Oil Technologies Limited, The South Indian Bank Limited, Sun Pharma Advanced Research Company Limited, Speciality Restaurants Limited, The State Trading Corporation of India Limited, Styrolution ABS (India) Limited, Sundaram Finance Limited, Sundram Fasteners Limited, Sunteck Realty Limited, Supreme Infrastructure India Limited,Surana Industries Limited, Suven Life Sciences Limited, Suzlon Energy Limited, Syndicate Bank, Talbros Automotive Components Limited, Talwalkars Better Value Fitness Limited, Tata Chemicals Limited, Tata Coffee Limited, Tata Global Beverages Limited, Tata Investment Corporation, Tata Metaliks Limited, Tata Power Company Limited, Tata Sponge Iron Limited, Tribhovandas Bhimji Zaveri Limited, TCI Finance Limited, Tata Consultancy Services Limited, TD Power Systems Limited, Teamlease Services Limited, Tech Mahindra Limited, Tourism Finance Corporation of India Limited, Tilaknagar Industries Limited, Time Technoplast Limited, Timken India Limited, TTK Healthcare Limited, T T Limited

Meanwhile, the BSE Sensex is down 214 points at 22,737.

Axis Bank added to MSCI Emerging Market Index

The three largest additions to the MSCI ACWI Value Index measured by full company market capitalization will be Jardine Matheson (Hong Kong), Axis Bank (India) and Mid-America Apartment (US).

Axis Bank Ltd, one of India’s leading private sector lender, has been added to the MSCI Emerging market Index.

The three largest additions to the MSCI ACWI Value Index measured by full company market capitalization will be Jardine Matheson (Hong Kong), Axis Bank (India) and Mid-America Apartment (US).

Axis Bank’s current market capitalization stands at Rs. 91,384 crore on BSE.

DLFdown 8%

Report says that West Asian sovereign funds Abu Dhabi Investment Authority and Qatar Investment Authority, along with Kotak Realty Fund and another global investor, are forming consortium to bid for 40% stake being sold by DLF's promoters in the company's rental arm DLF Cyber City Developers Limited.

DLF stock was down by 8% at Rs. 75. Report says that West Asian sovereign funds Abu Dhabi Investment Authority and Qatar Investment Authority, along with Kotak Realty Fund and another global investor, are forming consortium to bid for 40% stake being sold by DLF's promoters in the company's rental arm DLF Cyber City Developers Limited.

The scrip opened at Rs. 83 and has touched a high and low of Rs. 83.3 and Rs. 72.5 respectively. So far 7745465(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 14497.65 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 169.15 on 06-Apr-2015 and a 52 week low of Rs. 79.9 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 100.95 and Rs. 79.9 respectively.

The promoters holding in the company stood at 74.99 % while Institutions and Non-Institutions held 18.7 % and 6.31 % respectively.

The stock is currently trading above its 200 DMA.

BHEL crashes by 11%; Q3 net loss at Rs. 1102 crore

The Company has posted a net loss of Rs. (11019.90) mn for the quarter ended December 31, 2015 as compared to net profit of Rs. 2126.00 million for the quarter ended December 31, 2014.

BHEL stock was lower by 11% at Rs. 106 after company posted Q3 results yesterday.

The Company has posted a net loss of Rs. (11019.90) mn for the quarter ended December 31, 2015 as compared to net profit of Rs. 2126.00 million for the quarter ended December 31, 2014.

Total Income has decreased from Rs. 64720.60 mn for the quarter ended December 31, 2014 to Rs. 54961.30 million for the quarter ended December 31, 2015.

Bharat Heavy Electricals Ltd is currently trading at Rs. 106.45, down by Rs. 13.9 or 11.55% from its previous closing of Rs. 120.35 on the BSE.

The scrip opened at Rs. 115 and has touched a high and low of Rs. 115 and Rs. 105.8 respectively. So far 4529299(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 29456.87 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 289.85 on 21-Jul-2015 and a 52 week low of Rs. 119.4 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 137.8 and Rs. 119.4 respectively.

The promoters holding in the company stood at 63.06 % while Institutions and Non-Institutions held 33.08 % and 3.86 % respectively.

The stock is currently trading above its 200 DMA.

Coal India drops 1%; Q3 net profit rises 14%

Total income has increased from Rs. 199448.60 million for the quarter ended December 31, 2014 to Rs. 209533.50 million for the quarter ended December 31, 2015.

Coal India dropped 1% to Rs.302.45 on BSE. The company has posted a net profit after taxes, minority interest and share of profit of associates of Rs. 37182.50 million for the quarter ended December 31, 2015 as compared to Rs. 32624.90 million for the quarter ended December 31, 2014. Total income has increased from Rs. 199448.60 million for the quarter ended December 31, 2014 to Rs. 209533.50 million for the quarter ended December 31, 2015.

The scrip opened at Rs. 307.9 and has touched a high and low of Rs. 318 and Rs. 300.7 respectively. So far 1687555(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 192680.56 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 286.9 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs. 336.8 and Rs. 296.3 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.44 % and 2.91 % respectively.

The stock is currently trading above its 200 DMA.

Wockhardt whacked 10.3% after Q3 net profit drops sharply

The pharma company reported consolidated net profit of Rs.60.97 crore for the quarter ended December 31, 2015, registering decline of 82.44% yoy

Wockhardt plunged 10.3% to Rs.785.10 on BSE. The pharma company reported consolidated net profit of Rs.60.97 crore for the quarter ended December 31, 2015, registering decline of 82.44% yoy and 43.33% qoq. The company’s consolidated revenue stood at Rs. 1,075.77 crore, down 22.16% yoy and 12.66% qoq.

The scrip opened at Rs. 850 and has touched a high and low of Rs. 850 and Rs. 770 respectively. So far 950034(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 9673.95 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2000 on 08-Apr-2015 and a 52 week low of Rs. 846.2 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 1059.5 and Rs. 846.2 respectively.

The promoters holding in the company stood at 74.19 % while Institutions and Non-Institutions held 11.88 % and 13.8 % respectively.

The stock is currently trading above its 200 DMA.

Sun Pharma Q3 numbers likely to surge

IIFL forecasts the company’s net profit for Q3 FY16 to jump 40%.

Sun Pharmaceuticals will announce its financial results on February 12 for the third quarter ended December 31, 2015.

IIFL expects net revenue to rise at a rate of 14.5% yoy. IIFL forecasts the company’s net profit for Q3 FY16 to jump 40%.

Sun Pharma Q3 revenues would be impacted due to continued pressure on US supplies due to Halol remediation and pressure on base business as evidenced in Q2 results; we expect adjusted US revenues (for US$40mn one off income in Q2) to decline 1.5% qoq while domestic revenues would inch up 1.5% qoq. Overall we expect 2.7% revenue decline leading to concurrent pressure on margins (‐130bps qoq) and ~17% sequential decline in PAT. We expect InSite acquisition to be factored in Q3 and would look for management commentary on Halol, Ranbaxy integration and US business outlook

Other key Q3 results on February 12 include Adani Ports & SEZ, Adani Power, Apollo Hospitals, BPCL, ITDC, IOCL, Kolte Patil, Man Industries, M&M, Marksans Pharma, Nestle, NMDC, Punj Lloyd, Shakti Pump, Rashtriya Chemicals, Repro India, Shilpa Medicare, Suven Lifesciences and Sun TV.

Gold futures spike by over US$50 to touch one-year high

Gold for April delivery jumped by US$53.20, or 4.5%, to end at US$1,247.80 an ounce after touching a high of US$1,263.90.

Gold futures rose by more than US$50 an ounce to settle at the highest level in about a year on Thursday, as global investors turned to safe haven assets amid sharp losses in equity markets.

Gold for April delivery jumped by US$53.20, or 4.5%, to end at US$1,247.80 an ounce after touching a high of US$1,263.90. 

Prices logged their highest settlement since Feb. 5, 2015. They also saw their largest one-day dollar and percentage gain since Sept. 19, 2013.

Equity markets in Asia, Europe and US fell sharply on the back of uncertainty over growth in the global economy.

Federal Reserve Chairwoman Janet Yellen acknowledged in her congressional testimony on Wednesday that jitters in international financial markets and the world economy could impact the outlook for the US. 

Yellen also signaled that the US central bank could postpone further rate increases if the current weakness in global markets persists.

The US dollar slumped to its lowest level since 2014 against the Japanese yen late on Wednesday.

In India, spot gold prices climbed further by INR 215 to touch INR 28,800 per 10 grams.

ONGC gas dispute...RIL also part of Shah panel

“I have been given to understand that RIL would be participating in the panel,” ONGC Chairman & MD Dinesh K Sarraf told reporters on Thursday.

Reliance Industries Ltd. (RIL) has agreed to participate in the AP Shah panel probing the allegation of theft of gas from the public sector company ONGC’s Krishna Godavari fields, reports a financial newspaper.

“I have been given to understand that RIL would be participating in the panel,” ONGC Chairman & MD Dinesh K Sarraf told reporters on Thursday.

Two rounds of meetings have already been held by the Shah panel. 

In the first round, RIL had expressed a desire to stay away from the panel. However, in the second meeting held this week, RIL has said that it will participate in the panel’s proceedings, reports the paper.

Shah, former Chief Justice of the Delhi High Court, has been appointed by the Union Petroleum Ministry to study the report of US-based consultant DeGolyer & MacNaughton (D&M).

D&M has said that 11.122 billion cubic meters (bcm) of natural gas had migrated from ONGC’s fields to the adjoining KG D6 block - KG-DWN-98/3 - operated by RIL, along with partners BP and Niko Resources.

Earlier, RIL and Niko Resources had questioned the jurisdiction of the Shah panel and instead wanted the dispute to be resolved by arbitration.

Wipro,Sun Pharma, Coal India, Wockhardt among 25 Stocks in focus today

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

Mahindra & Mahindra Ltd: M&M, one of the leading automobile companies, will announce its financial results on February 12 for the third quarter ended December 31, 2015. IIFL expects net profit to dip to Rs. 787.2 crore at a rate of 6.8% yoy and 4.9% qoq.

Wipro: The IT Company has signed a definitive agreement to acquire HealthPlan Services from Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry.

Sun Pharmaceuticals: Sun Pharma will announce its financial results on February 12 for the third quarter ended December 31, 2015. IIFL expects net revenue to rise at a rate of 14.5% yoy. 

Tata Motors: The company’s revenue stood at Rs. 72,256.40 crore, up 2.91% yoy and 17.84% qoq.

Reliance Industries, ONGC: RIL has agreed to participate in the AP Shah panel probing the allegation of theft of gas from the public sector company ONGC’s Krishna Godavari fields, reports a financial newspaper.

Blue Star: Blue Star Ltd. plans to build a greenfield plant in Jammu first and later take up another plant in Sri City in Andhra Pradesh, ED & President B. Thiagarajan said on Thursday.

State Bank of India: State Bank of India,  India's largest PSU lender, reported standalone net profit of Rs. 1,115.34 crore for the quarter ended December 31, 2015, registering decline of 61.67% yoy and 71.24% qoq.

Coal India: The company posted 10.7% growth in its coal supplies during the quarter ending December 2015 of the fiscal 2015-16.  The company’s consolidated revenue stood at Rs. 19,599.42 crore, up by 7.04% yoy and 12.06% qoq.

Hero MotoCorp: The Company posted a net profit after tax of Rs. 7,958.10 million for the quarter ended December 31, 2015 as compared to Rs. 5,829.80 million for the quarter ended December 31, 2014.

Wockhardt: Wockhardt Ltd posted a net profit after taxes, minority interest and share of profit of associates of Rs. 609.70 mn for the quarter ended December 31, 2015 as compared to Rs. 3472.50 mn for the quarter ended December 31, 2014.

ONGC: Oil & Natural Gas Corpn Ltd, multinational oil and gas company, reported standalone net profit of Rs.1,285.62 crore for the quarter ended December 31, 2015, registering decline of 64% yoy.

BGR Energy Systems: The company’s standalone revenue stood at Rs. 616.31 crore, down 37.66% yoy and 25.95% qoq.

BHEL: The company’s standalone revenue stood at Rs. 5,325.37 crore, down 14.08% yoy and 10.32% qoq.

J Kumar Infra: J Kumar Infrastructure Ltd has announced that it has bagged orders worth Rs 133.8 crore From MMRDA.

Tata Steel: Tata Steel will commence commercial steel production from Kalinganagar plant, the company's only greenfield steel mill outside Jamshedpur, from the next fiscal.

NALCO: The company’s standalone revenue stood at Rs. 1,635.26 crore, down 14.2% yoy and 9.91% qoq.

Aurobindo Pharma: The pharma company has received final approval from USFDA to manufacture and market Levofloxacin in 5% Dextrose injection.

TBZ: Tribhovandas Bhimji Zaveri has collaborated with Amazon to sell its diamond jewellery range and gold coins.

Rupa & Company: Rupa & Company Ltd, Kolkata based publishing company, reported standalone net profit of Rs.14.08 crore for the quarter ended December 31, 2015, registering growth of 78.21% yoy.

Liberty Shoes: The company’s standalone revenue stood at Rs. 123.31 crore, down by 14.73% yoy but up by 19.3% qoq.

Chennai Petroleum Corporation: The company’s standalone revenue stood at Rs. 5,088.24 crore, down 46.08% yoy and 14.95% qoq.

Ashok Leyland: The company’s standalone revenue stood at Rs. 4,085.34 crore, up 21.55% yoy but down 17.3% qoq.

Jubilant Foodworks: Jubilant Foodworks, franchisee of leading company Domino's Pizza and Dunkin Donuts, reported standalone net profit of Rs.31.74 crore for the quarter ended December 31, 2015, registering decline of 9.35% yoy.

Indraprastha Gas: The company’s standalone revenue stood at Rs. 929.22 crore, down 1.61% yoy and 4.12% qoq.

Coffee Day Enterprises: The company’s consolidated revenue stood at Rs. 679.60 crore, up 14.78% yoy and 2.07% qoq.

Indian Bank: Indian Bank, state-owned financial services company, reported standalone net profit of Rs. 42.30 crore for the quarter ended December 31, 2015, registering decline of 84.75% yoy and 88.54% qoq.

BEML: The company’s standalone revenue stood at Rs. 763.52 crore, up by 32.35% yoy and 22.91% qoq.

Bank Of India: Bank of India, nationalised bank with a presence in all the major trade centers of the world, reported standalone net loss of Rs. 1,505.58 crore for the quarter ended December 31, 2015, against net profit of Rs. 173.38 crore in the corresponding quarter of the previous year.

Man Industries India: The company will announce its financial results on February 12 for the fourth quarter ended December 31, 2015. IIFL expects net revenue to increase to Rs. 369 crore at a rate of 82.7% yoy and 15% qoq.

Sensex, Nifty to open on a weak note

Global rout, shocking slippages by PSU banks and the margin calls triggered thereafter can continue to cause havoc though. Globally, investors seem to have lost faith in the ability of their Central Banks to revive economic growth. While ECB and Japan persist with their easing policy, US Fed seems confused whether to hike rates or not. Investors with at least 15-24 months horizon should be on an active stock lookout as valuations are getting attractive.

Memories of 2008 have returned to haunt the market as the sharp crash in the indices on Thursday sent Indian indices into bear territory. The hug has got tighter especially this week as global sell-off accentuated sending stocks in a tizzy. The silver lining is that after the bear market phases of January 2008 to March 2009 and November 2010 and January 2012, the indices have zoomed with a vengeance gaining over 100% in a year. For now we have to contend with multiple headwinds and hope that the budget doesn’t have any negative surprise.

The outlook is a weak start again. On the macro front, IIP, CPI and Export-Import data are on tap. Among the results scheduled today are Mahindra & Mahindra, BPCL, HPCL, NMDC, Indian Oil Corporation, Nestle India, Canara Bank, Ceat, Corporation Bank, Sun Pharma, Godrej Industries, Dhanlaxmi Bank, Adani Power, Suven Life Sciences and Andhra Bank. For the last couple of weeks, Fridays have shown encouraging signs of revival in battered markets. Global rout, shocking slippages by PSU banks and the margin calls triggered thereafter can continue to cause havoc though. Globally, investors seem to have lost faith in the ability of their Central Banks to revive economic growth. While ECB and Japan persist with their easing policy, US Fed seems confused whether to hike rates or not. Investors with at least 15-24 months horizon should be on an active stock lookout as valuations are getting attractive."

US stock indices declined for a fifth successive session on Thursday, dragged lower by the ongoing global turmoil in the financial markets and lingering worries over falling oil prices.

With a view to addressing the expected tightening of liquidity conditions in March on account of advance tax payments by corporate and in order to provide flexibility to the banking system in its liquidity management towards March-end 2016, the Reserve Bank of India will inject adequate additional liquidity using a combination of appropriate instruments, while continuing with its normal Liquidity Adjustment Facility (LAF) operations.

RBI Governor Raghuram Rajan stated that for deep surgery like loan recast, banks must recognise the problem.

Putting stressed projects on track may need deep surgery, he said adding that Govt will support state-run banks with capital infusion as needed.

GoAir is planning to hire Goldman, Kotak Bank and BOFA-ML to manage its $150mn IPO, according to reports.

Trent Ltd. on Thursday said that online retailer Amazon.com Inc has bought a 26% stake in its publishing unit Westland for about INR 9.5 crore.

Gold futures rose by more than US$50 an ounce to settle at the highest level in about a year on Thursday, as global investors turned to safe haven assets amid sharp losses in equity markets.