ACC plunges 3%; Q4 net dips 69%

.The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 1023.90 mn for the quarter ended December 31, 2015 as compared to Rs. 3262.20 mn for the quarter ended December 31, 2014.

ACC stock slipped by 3% at Rs.1236.The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 1023.90 mn for the quarter ended December 31, 2015 as compared to Rs. 3262.20 mn for the quarter ended December 31, 2014. 

Total Income has increased from Rs. 28796.80 mn for the quarter ended December 31, 2014 to Rs. 29312.20 million for the quarter ended December 31, 2015.

ACC Ltd is currently trading at Rs. 1237, down by Rs. 32.05 or 2.53% from its previous closing of Rs. 1269.05 on the BSE.

The scrip opened at Rs. 1251 and has touched a high and low of Rs. 1256.75 and Rs. 1236 respectively. So far 62084(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 23826.41 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1774.8 on 02-Mar-2015 and a 52 week low of Rs. 1207 on 20-Jan-2016. Last one week high and low of the scrip stood at Rs. 1310 and Rs. 1250.85 respectively.

The promoters holding in the company stood at 50.3 % while Institutions and Non-Institutions held 33.54 % and 16.17 % respectively.

The stock is currently trading above its 200 DMA.

Sensex, Nifty hit fresh 52-week low

The INDIA VIX is up by 2.92% at 23.1225. Out of 1,780 stocks traded on the NSE, 1,145 declined, 315 advanced and 320 remained unchanged today.

At 10:09 AM, the S&P BSE Sensex is trading at 23,545 down by 213 points, while NSE Nifty is trading at 7,149 down 66 points.

The BSE Mid-cap Index is trading down by 0.90% at 9,928. whereas BSE Small-cap Index is trading down by 1.07% at 10,168.

Among sectoral indices, the BSE Capital Goods, Banking, FMCG, Oil and Gas and Metal indices are shed over 1% each.

Dr.Reddy's Lab, SBI, Tata Motors, GAIL and Bharti Airtel are among the gainers, whereas Cipla, BHEL, ICICI Bank, Asian Paints, Maruti Suzuki and Tata Steel are losing sheen on BSE.

The INDIA VIX is up by 2.92% at 23.1225. Out of 1,780 stocks traded on the NSE, 1,145 declined, 315 advanced and 320 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trades today, while 123 stocks touched a new 52-week low on the NSE.

Indian Rupee opened weaker by 10 paise at 67.95/$ in early trade on Thursday as against the previous close of 67.85/$. On a global front, market participants remained cautious ahead of Fed chief Janet Yellen testimony to US Senate. In this respect, she stated that the central bank will not likely undo the process of policy normalization, which has been initiated during December.

Asian markets are playing catch up on the downside as they opened after a break. Hong Kong is down over 3%, South Korea’s Kospi has dropped over 2%. US markets closed in the red. The Dow Jones Industrial Average lost 99.64 points, or 0.6%, to end at 15,914.74 - its fourth straight day of declines. This marks the blue-chip index’s longest period of declines since Aug. 18 to Aug. 25. Weakness in Walt Disney Co., which hit a 52-week low, and IBM cut about 50 points from the Dow industrials. The S&P 500 index finished unchanged at 1,851.86. Materials and Energy sectors led the losses, following a drop in oil prices. Only two of the S&P 500’s 10 sectors closed in the green: Healthcare was up 0.9% and Technology gained 0.4%. The S&P 500 is down 9.4% year to date. The Nasdaq Composite index advanced by 14.83 points, or 0.4%, to settle at 4,283.59.

Finolex Cables rallied 2% to Rs.225 on BSE. The company reported a net profit of Rs. 52.7 crore for the quarter ended December 31, 2015 as compared to Rs. 38.2 crore for the quarter ended December 31, 2014. The company's total income has increased from Rs. 5827.3 million for the quarter ended December 31, 2014 to Rs. 5963.4 million for the quarter ended December 31, 2015.

State Bank of India zoomed 1.7% to Rs.161.60 on BSE. The bank is scheduled to announce its December quarter earnings today. IIFL forecasts the bank's standalone net profit for Q3 FY16 to soar to Rs. 3,347.2 crore, growing at a rate of 15% yoy; however, it is likely to dip 13.7% qoq.   

Lakshmi Vilas Bank slipped 1.8% to Rs.92 on BSE. The bank has cut the minimum lending rate by 0.15% to 10.55% with effect from February 8, 2016.

Engineers India cracked 3% to Rs.162 on BSE. The company reported standalone net profit of Rs.62.08 crore for the quarter ended December 31, 2015, registering growth of 3.6% yoy. The company’s standalone revenue stood at Rs. 368.37 crore, down by 7.52% yoy and 18.24% qoq. 

State Bank of India zooms 1.7% ahead of Q3 results

The bank is scheduled to announce its December quarter earnings today.

State Bank of India zoomed 1.7% to Rs.161.60 on BSE. The bank is scheduled to announce its December quarter earnings today. IIFL forecasts the bank's standalone net profit for Q3 FY16 to soar to Rs. 3,347.2 crore, growing at a rate of 15% yoy; however, it is likely to dip 13.7% qoq.

The scrip opened at Rs. 159.95 and has touched a high and low of Rs. 162.45 and Rs. 159 respectively. So far 5063054(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 123389.34 crore.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 315.8 on 04-Mar-2015 and a 52 week low of Rs. 158.05 on 10-Feb-2016. Last one week high and low of the scrip stood at Rs. 176.8 and Rs. 158.05 respectively.

The promoters holding in the company stood at 60.18 % while Institutions and Non-Institutions held 28.55 % and 9.32 % respectively.

The stock is currently trading above its 200 DMA.

MOIL down by 2%; to set up solar power plant

The company will invest Rs.620 mn for setting up a 10.5MW solar power project for captive use for mines in Madhya Pradesh and Maharashtra.

MOIL is currently trading at Rs. 189.8, down by Rs. 4.35 or 2.24% from its previous closing of Rs. 194.15 on the BSE. The company will invest Rs.620 mn for setting up a 10.5MW solar power project for captive use for mines in Madhya Pradesh and Maharashtra.

The scrip opened at Rs. 194.5 and has touched a high and low of Rs. 194.5 and Rs. 189.1 respectively. So far 19377(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3261.72 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 298.8 on 12-Mar-2015 and a 52 week low of Rs. 183.2 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 202.3 and Rs. 192 respectively.

The promoters holding in the company stood at 80 % while Institutions and Non-Institutions held 9.81 % and 10.19 % respectively.

The stock is currently trading above its 200 DMA.

Engineers India cracks after poor Q3 numbers

The company’s standalone revenue stood at Rs. 368.37 crore, down by 7.52% yoy and 18.24% qoq.

Engineers India cracked 3% to Rs.162 on BSE. The company reported standalone net profit of Rs.62.08 crore for the quarter ended December 31, 2015, registering growth of 3.6% yoy. The company’s standalone revenue stood at Rs. 368.37 crore, down by 7.52% yoy and 18.24% qoq.

The scrip opened at Rs. 165 and has touched a high and low of Rs. 165 and Rs. 159.3 respectively. So far 337569(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5635.32 crore.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 252 on 01-Jan-2016 and a 52 week low of Rs. 157.9 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 185 and Rs. 165.1 respectively.

The promoters holding in the company stood at 69.37 % while Institutions and Non-Institutions held 20.06 % and 10.58 % respectively.

The stock is currently trading above its 50 DMA.

Nifty trades below 7,200 mark

The INDIA VIX is up by 1.41% at 22.7825. Out of 1,741 stocks traded on the NSE, 906 declined, 307 advanced and 235 remained unchanged today.

At 9:37 AM, the S&P BSE Sensex is trading at 23,664 down by 95 points, while NSE Nifty is trading at 7,183 down 32 points.

The BSE Mid-cap Index is trading down by 0.42% at 9,976. whereas BSE Small-cap Index is trading down by 0.50% at 10,226.

Among sectoral indices, the BSE Capital Goods, Banking, FMCG, Oil and Gas  and Metal indices are shed over 1% each. Telecom indices is in green on BSE.

Dr.Reddy's Lab, SBI, Tata Motors, GAIL and Bharti Airtel are among the gainers, whereas Cipla, BHEL, ICICI Bank, Asian Paints, Maruti Suzuki and Tata Steel are losing sheen on BSE.

The INDIA VIX is up by 1.41% at 22.7825. Out of 1,741 stocks traded on the NSE, 906 declined, 307 advanced and 235 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trades today, while 73 stocks touched a new 52-week low on the NSE.

Indian Rupee opened weaker by 10 paise at 67.95/$ in early trade on Thursday as against the previous close of 67.85/$. On a global front, market participants remained cautious ahead of Fed chief Janet Yellen testimony to US Senate. In this respect, she stated that the central bank will not likely undo the process of policy normalization, which has been initiated during December.

Asian markets are playing catch up on the downside as they opened after a break. Hong Kong is down over 3%, South Korea’s Kospi has dropped over 2%. US markets closed in the red. The Dow Jones Industrial Average lost 99.64 points, or 0.6%, to end at 15,914.74 - its fourth straight day of declines. This marks the blue-chip index’s longest period of declines since Aug. 18 to Aug. 25. Weakness in Walt Disney Co., which hit a 52-week low, and IBM cut about 50 points from the Dow industrials. The S&P 500 index finished unchanged at 1,851.86. Materials and Energy sectors led the losses, following a drop in oil prices. Only two of the S&P 500’s 10 sectors closed in the green: Healthcare was up 0.9% and Technology gained 0.4%. The S&P 500 is down 9.4% year to date. The Nasdaq Composite index advanced by 14.83 points, or 0.4%, to settle at 4,283.59.

ITC announces 3 projects worth Rs. 3000 Cr in West Bengal

Chief Minister Mamata Banerjee assured ITC Chairman YC Deveshwar that her government would provide any cooperation necessary for more such projects in the future.

ITC on Wednesday announced three projects in West Bengal involving an investment of INR 3,000 crore.

Chief Minister Mamata Banerjee assured ITC Chairman YC Deveshwar that her government would provide any cooperation necessary for more such projects in the future.

She also stressed on the need to cooperate with the industry to take the state on a growth path.

“Let us not disturb the industry. Let us fully cooperate with them. When the world is moving ahead, Bengal cannot afford to sit back. Collective interest is bigger than individual interest,” Mamata said.

She was speaking after laying the foundation stone of an integrated consumer goods manufacturing unit at Panchla in Howrah and an IT Park at Rajarhat near Kolkata.

ITC Chairman Deveshwar said that the West Bengal government was unable to provide the group with contiguous plots.

“We had asked for 60 acres, but we got 40 acres at one place and another 18 acres at another. If we want to expand and increase production, it is more beneficial to get contiguous plots," he said.

"For instance, we want to set up a cold chain and start manufacturing frozen foods. Right now we simply don’t have the land for that,” said Deveshwar

If ITC gets better opportunities elsewhere, the group would expand outside the state, he added.

ITC would engage more with the West Bengal farmers, Deveshwar said, adding that it was experimenting with a special variety of seeds, which will not absorb moisture. ITC is also developing a special kind of potato seeds.

The ITC facility at Panchla is spread over 800,000 feet and will manufacture packaged foods, including noodles and potato chips, and is expected to be commissioned by January next year.

The facility at Uluberia is being built over 400,000 square feet and is likely to be completed by May 2016.

The IT park at Rajarhat will come up in phases over 27 lakh square feet of built up space. The project to be completed by 2018, will create direct employment for 5,000 people.

The ITC is further developing a Royal Bengal hotel next to the Shonar Bangla hotel in Kolkata. With an investment of INR 1000 crores, the new hotel is set to be ready by the end of next year.

Oracle Financial Services Software Q3 PAT at Rs. 289.4 crore

The company's total Income has increased from Rs. 982.3 crore for the quarter ended December 31, 2014 to Rs. 1,052.1 crore for the quarter ended December 31, 2015.

Oracle Financial Services Software Ltd has announced the following results for the quarter ended December 31, 2015:

The company has posted a net profit of Rs. 289.4 crore for the quarter ended December 31, 2015 as compared to Rs. 249.7 crore for the quarter ended December 31, 2014. Total Income has increased from Rs. 982.3 crore for the quarter ended December 31, 2014 to Rs. 1,052.1 crore for the quarter ended December 31, 2015.

On a standalone basis, the company has posted a net profit of Rs. 233.9 crore for the quarter ended December 31, 2015 as compared to Rs. 234.3 crore for the quarter ended December 31, 2014. Total Income has increased from Rs. 877.8 crore for the quarter ended December 31, 2014 to Rs. 918.1 crore for the quarter ended December 31, 2015.

SBI, Ambuja Cements, Bharti Airtel 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.

State Bank of India: SBI, the largest lender in the country, will announce its financial results on February 11 for the third quarter ended December 31, 2015. IIFL forecasts the bank's standalone net profit for Q3 FY16 to soar to Rs. 3,347.2 crore, growing at a rate of 15% yoy; however, it is likely to dip 13.7% qoq.       

Tata Motors: Tata Motors will announce its Q3 numbers today. IIFL forecasts the company’s net profit for Q3 FY16 to decline to Rs. 3,341.9 crore, at a rate of 6.7% yoy and 877.6% qoq.

Ambuja Cements: Ambuja Cements, major cement producing company in India, reported standalone net profit of Rs.109.96 crore for the quarter ended December 31, 2015, registering decline of 66.54% yoy.


Bharti Airtel: Bharti Airtel is in talks to merge its wholly-owned Sri Lanka unit into Dialog Axiata in a likely share-swap deal, according to reports.

Reliance Infrastructure Ltd: Reliance Infra is in talks with global pension funds and investment companies, including the Canada-based Brookfield Asset Management Inc and CPP Investment Board (formerly the Canada Pension Plan Investment Board) to sell its portfolio of road assets, reports a business daily.

HUL:The company may sell its commoditised businesses such as atta, rice and salt brands as it looks to realign its food portfolio, as per media reports.

ITC: The company announced three projects in West Bengal involving an investment of INR 3,000 crore.

Cipla: Cipla , global pharmaceutical manufacturers, reported consolidated net profit of Rs.343.20 crore for the quarter ended December 31, 2015, registering growth of 4.68% yoy, but decline of 20.42% qoq.

Petronet LNG: Petronet LNG reported standalone net profit of Rs.178.39 crore for the quarter ended December 31, 2015, registering growth of 9.85% yoy, but decline of 28.31% qoq.

Mercator: Shipping and logistics company Mercator said it has sold its Singapore bulk cargo business to three investors for a token amount of three Singapore dollars.

Shipping Corporation: Shipping Corporation of India Ltd posted a net profit of Rs. 596.60 mn for the quarter ended December 31, 2015 as compared to Rs. 313.50 mn for the quarter ended December 31, 2014.

Coal India: Coal India, the largest coal miner in India, will announce its Q3 results today. IIFL forecasts the company’s net revenue for Q3 FY16 to rise to Rs. 19,003 crore, growing at a rate of 7% yoy and 8.6% qoq.

MOIL: The company will invest Rs.620 mn for setting up a 10.5MW solar power project for captive use for mines in Madhya Pradesh and Maharashtra.

ACC: ACC Ltd posted a net profit after taxes, minority interest and share of profit of associates of Rs. 1023.90 million for the quarter ended December 31, 2015 as compared to Rs. 3262.20 mn for the quarter ended December 31, 2014.

Ruchi Soya Industries: The company’s standalone revenue stood at Rs. 8,185.29 crore, up by 41.68% yoy and 44.82% qoq.

DFM Foods: DFM Foods Ltd, maker of packaged snacks, reported standalone net profit of Rs. 6.59 crore for the quarter ended December 31, 2015, registering growth of 111.22% yoy.

Tata Global Beverages: The company’s consolidated revenue stood at Rs. 2,081.47 crore, down by 2.78% yoy but up by 2.31% qoq.

Sequent Scientific: Sequent Scientific  will announce its Q3 numbers today. IIFL forecasts the company’s net revenue for Q3 FY16 to soar to Rs. 177 crore, growing at a rate of 58% yoy and 11.3% qoq.

Shipping Corporation of India: The company’s standalone revenue stood at Rs. 987.04 crore, registering decline of 6.21% yoy and 9.03% qoq.

Kalpataru Power: Kalpataru Power Transmission, power plant major, reported standalone net profit of Rs.38.11 crore for the quarter ended December 31, 2015, registering decline of 7.03% yoy and 7.09% qoq.

AXISCADES Engineering Technologies: The company’s consolidated revenue stood at Rs. 97.65 crore, up 16.92% yoy and 2.01% qoq.

Asahi India Glass: Asahi India Glass Ltd, leading integrated glass company, reported standalone net profit of Rs. 25.53 crore for the quarter ended December 31, 2015, registering growth of 124.54% yoy and 13.97% qoq.

Engineers India: The company’s standalone revenue stood at Rs. 368.37 crore, down by 7.52% yoy and 18.24% qoq.
Glaxosmithkline Pharma: Glaxosmithkline Pharma reported standalone net profit of Rs.79.90 crore for the quarter ended December 31, 2015, registering growth of 76.38% yoy, but decline of 16.81% qoq.

Lakshmi Vilas Bank: Lakshmi Vilas Bank, one of India’s fast growing banks, announced reduction in the base rate from the earlier rate of 10.70% p.a. to 10.55% p.a.

Sensex, Nifty to open on a weak note

Asian markets are playing catch up on the downside as they opened after a break. Hong Kong is down over 3%, South Korea’s Kospi has dropped over 2%.

The market is trying hard to maintain some balance. Though it manages few spikes intra-day and pares some losses, the indices are finding it hard to even close in the green. US Fed Chair Janet Yellen said what the market wished to hear. In her testimony said the Fed expects that with gradual adjustments in the monetary policy stance, economic activity will expand at a moderate pace in the coming years and that labour market indicators will continue to strengthen. Yellen says going by the strength in the US labour market, Fed was primed for 'gradual rate hike path' to achieve its two per cent inflation target.

The outlook is a weak start again. The Nifty has breached previous low of 7240 and has also closed below the same. We expect that index will shift to new zone on the downside and unless some bottom fishing happens aggressively, Nifty could slide towards 6889 in the near term.

Heavy-weight results are on tap including SBI, Tata Motors, ONGC, Coal India, Bharat Heavy Electricals Ltd, Hero Motocorp, Essar Shipping, Ashok Leyland, Bank Of India, BEML, 3I Infotech, Amtek Auto, A2Z Infra Engineering and Coffee Day Enterprises.

Asian markets are playing catch up on the downside as they opened after a break. Hong Kong is down over 3%, South Korea’s Kospi has dropped over 2%.

US markets closed in the red. The Dow Jones Industrial Average lost 99.64 points, or 0.6%, to end at 15,914.74 - its fourth straight day of declines. This marks the blue-chip index’s longest period of declines since Aug. 18 to Aug. 25. Weakness in Walt Disney Co., which hit a 52-week low, and IBM cut about 50 points from the Dow industrials. The S&P 500 index finished unchanged at 1,851.86.

Materials and Energy sectors led the losses, following a drop in oil prices. Only two of the S&P 500’s 10 sectors closed in the green: Healthcare was up 0.9% and Technology gained 0.4%. The S&P 500 is down 9.4% year to date. The Nasdaq Composite index advanced by 14.83 points, or 0.4%, to settle at 4,283.59.

Finland-based Nordea Fund acquired over 17 lakh equity shares of Reliance Infrastructure for Rs. 75.16 crore through an open market transaction.

Bharti Airtel is in talks to merge its wholly-owned Sri Lanka unit into Dialog Axiata in a likely share-swap deal, two people familiar with the matter said.

Mylan NV said that it has agreed to buy Swedish pharmaceutical company Meda AB for US$7.2 billion in cash and stock.

Mukesh Bansal, who was handling the commerce and advertising operations at Flipkart, quit on Wednesday after a two-year stint.

Bansal would, however, be an advisor to the company, Flipkart said in a statement.

Some e-commerce companies will shut down in the next few months, Future Group’s Kishore Biyani was quoted as saying on Wednesday.