Nifty trades above 7,150 mark

The INDIA VIX is down 2.06% at 21.9125. Out of 1,741 stocks traded on the NSE, 431 declined, 926 advanced and 384 remained unchanged today.

At 9:26 AM, the S&P BSE Sensex is trading at 23,608 up 54 points, while NSE Nifty is trading at 7,176 up 13 points.

In broader market, the Midcap has gained 0.08% at 9,957 and the Smallcap index has advanced 0.62% at 10,068.

ONGC, Adani Ports, NTPC, Tata Motors, Cipla, Tata Steel and Bharti Airtel are among the gainers, whereas L&T, Coal India, TCS, HDFC, Maruti Suzuki and Asian Paints are losing sheen on BSE.

The INDIA VIX is down 2.06% at 21.9125. Out of 1,741 stocks traded on the NSE, 431 declined, 926 advanced and 384 remained unchanged today.

A total of three stocks registered a fresh 52-week high in trades today, while 12 stocks touched a new 52-week low on the NSE.

Indian Rupee opened lower by 7 paise at 68.13/$ in early trade on Tuesday as against the previous close of 68.13/$. On macroeconomic side, India’s exports contracted during January, the 14th consecutive monthly decline. Exports fell 13.6% on yoy basis, impacted by weak overseas demand. On inflation side, wholesale prices fell 0.0% during January, registering the contraction for the 15th consecutive month.

Most Asian markets are higher with Japan's benchmark Nikkei up a percent. China's CSI300 has gained 2.07%. Hong Kong's Hang Seng is up 1.44%, South Korea's Kospi is up 1.2% and Taiwan's TWSE is higher by 1.3%.  The result season is mostly out of the way and few names to announce their numbers include Net 4 India and Tirupati Inks.

The Government has extended for the second time U.K. Sinha’s term as Chairman of Securities & Exchange Board of India (SEBI).

Bharat Petroleum Corporation Ltd. (BPCL) says that the expansion work at its Kochi refinery is on track for scheduled commissioning in May this year, with about 90 per cent of the work done.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

The Government announced the first-ever policy for the capital goods sector which envisages creation of 21 million additional jobs by 2025.

The Union Petroleum and Natural Gas Minister Dharmendra Pradhan has stressed on the need to enhance domestic production of Oil & Gas through process and technical improvements, besides enhanced exploratory coverage.

Piyush Goyal, Union Minister of State(IC) for Power, Coal and New & Renewable Energy said, “The efforts of Government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 & 2020, a five year period, of about $ 250 billion.

Reliance Jio Infocomm has teamed up with eight leading global carriers including British Telecom (BT), Deutsche Telekom, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM to forge an international operator alliance to bring innovative products and services, according to reports.

Titagarh Wagons mulls merger of ship building biz

Shareholders met to consider a proposal for merger of its wholly-owned subsidiary Titagarh Marines Ltd., along with two of its subsidiaries - Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd - with Titagarh Wagons.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

Shareholders met to consider a proposal for merger of its wholly-owned subsidiary Titagarh Marines Ltd., along with two of its subsidiaries - Corporate Shipyard Pvt Ltd and Times Marine Enterprise Ltd - with Titagarh Wagons.

However, the formal approval for the Scheme of Amalgamation before the Calcutta High Court will take some time, according to the financial newspaper.

The merger would mark Titagarh Wagon’s entry into ship building and would also include manufacturing of barges for the Indian Navy, according to the daily.

Titagarh Wagons Ltd ended at Rs. 127.85, up by Rs. 11.4 or 9.79% from its previous closing of Rs. 116.45 on the BSE.

The scrip opened at Rs. 120 and touched a high and low of Rs. 129.9 and Rs. 120 respectively. A total of 2294686(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1475.19 crore.

The BSE group 'B' stock of face value Rs. 2 touched a 52 week high of Rs. 174.6 on 10-Mar-2015 and a 52 week low of Rs. 86 on 03-Jun-2015. Last one week high and low of the scrip stood at Rs. 141.4 and Rs. 108 respectively.

The promoters holding in the company stood at 46.11 % while Institutions and Non-Institutions held 29.38 % and 24.5 % respectively.

The stock traded above its 50 DMA.

Punjab National Bank declares United Breweries (Holdings) as wilful defaulters

The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

United Breweries (Holdings) Ltd has informed BSE that the Punjab National Bank vide its letter dated February 11, 2016, received by the Company on February 15, 2016, has declared the company as a ‘Willful Defaulter’.

The company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

Stock view:

United Breweries (Holdings) Ltd ended at Rs. 22.7, up by Rs. 1.25 or 5.83% from its previous closing of Rs. 21.45 on the BSE.

The scrip opened at Rs. 22.05 and touched a high and low of Rs. 23.2 and Rs. 22.05 respectively. A total of 152034(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 151.68 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 35.8 on 10-Nov-2015 and a 52 week low of Rs. 17 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 26.55 and Rs. 20.3 respectively.

The promoters holding in the company stood at 52.34 % while Institutions and Non-Institutions held 4.88 % and 42.78 % respectively.

The stock traded above its 100 DMA.

Tata Chemicals unit to sell stake in Gez Mauritius for $5.5 million

Tata Chemicals Ltd has entered into an agreement with Rademan Janse van Rensburg for sale of its entire stake in Grown Energy Zambeze Holdings, Mauritius (‘GEZ Mauritius’) for a consideration of US$ 5.5 million.

Tata Chemicals Ltd has informed the BSE that the company’s wholly owned subsidiary, Bio Energy Venture - 1 (Mauritius) Pvt. Ltd has entered into a Definitive Agreement (‘Agreement’) with Mr. Rademan Janse van Rensburg (‘Purchaser’) for sale of its entire stake in Grown Energy Zambeze Holdings Pvt. Ltd, Mauritius (‘GEZ Mauritius’) for a consideration of US$ 5.5 million subject to fulfilment of certain condition precedents laid down in the agreement (‘Closing Date’). As per the Agreement, the purchaser will discharge the above consideration on a deferred payment basis over a period of five years ending on December 31, 2020.

GEZ Mauritius is the holding company of Grown Energy Zambeze Limitada (‘GEZ Ltda’), which owns the company’s biofuel assets in Mozambique. The company, through its subsidiaries, owns 95% stake in GEZ Ltda. The purchaser, one of the founder members of GEZ Ltda. has been a shareholder since inception and currently holds the balance 5% ownership in GEZ Ltda. along with another investors.

Stock view:

Tata Chemicals Ltd ended at Rs. 340.65, up by Rs. 5.9 or 1.76% from its previous closing of Rs. 334.75 on the BSE.

The scrip opened at Rs. 344.95 and touched a high and low of Rs. 344.95 and Rs. 328.05 respectively. A total of 562082(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8678.4 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 525.7 on 23-Jul-2015 and a 52 week low of Rs. 324.9 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 375 and Rs. 324.9 respectively.

The promoters holding in the company stood at 30.98 % while Institutions and Non-Institutions held 47.48 % and 21.54 % respectively.

The stock traded above its 200 DMA.

Vedanta ties up with Odisha Govt for aluminium park

The proposed aluminium park has the potential to attract investment of INR 1,000 crore and generate direct & indirect employment of about 17,000 people, according to the paper.

Vedanta has signed an agreement with the Odisha government to set up an aluminium park adjacent to its aluminium smelter at Jhasarguda, reports a business daily.

The company has a 1.6 million tonnes production capacity at the smelter.

The proposed aluminium park has the potential to attract investment of INR 1,000 crore and generate direct & indirect employment of about 17,000 people, according to the paper.

The proposed aluminium park is slated to come up on 240 acres.

Vedanta would be able to sell aluminium in molten form to manufactures within the park instead of supplying it in ingots or sheets, leading to cost savings for the company as well as its customers, Vedanta's CEO for Aluminium Abhijit Pati has been quoted as saying. 

It would also make the production of aluminium products cost-efficient, he adds.

Units within the park can start production at short notice and Vedanta, with adequate smelting capacity and 3,600 MW of power generation, can assure uninterrupted supply at very competitive prices, says Pati.

The Odisha government will provide the necessary infrastructure for setting up the industries with financial incentives, he adds. 

Both Vedanta and the Odisha government will hold global road-shows to attract investment in the aluminium park.

Vedanta, Mahindra & Mahindra, BPCL, among 15 Stocks in focus today

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

Vedanta: Vedanta has signed an agreement with the Odisha government to set up an aluminium park adjacent to its aluminium smelter at Jhasarguda, reports a business daily.

Reliance Jio Infocomm: The company has partnered with eight global carriers to put in place a knowledge-sharing alliance to home in on new and popular telecom innovations and services and bring them to India.

HeidelbergCement India Ltd: The company has taken a stride in environmental sustainability by successfully commissioning the Waste Heat Recovery based Power Generation Plant at its Narsingarh Plant in Damoh, Madhya Pradesh on February 15, 2016.

Mahindra & Mahindra: M&M signed a MoU, under the aegis of 'Ultra Mega Project', with Government of Maharashtra to invest Rs. 8000 crore to cater to the auto manufacturing plants in Maharashtra.

Titan: New PAN norms are definitely a dampener for the jewellery sector and it is not helping in curbing the so-called black money, Titan Company's MD Bhaskar Bhat has been quoted as saying by a financial newspaper.

BPCL: Bharat Petroleum Corporation Ltd. (BPCL) says that the expansion work at its Kochi refinery is on track for scheduled commissioning in May this year, with about 90 per cent of the work done.

Titagarh Wagons Ltd:The company plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

United Breweries (Holdings):The company has informed that the Punjab National Bank vide its letter dated February 11, 2016, received by the Company on February 15, 2016, has declared the Company as a ‘Willful Defaulter’. The Company is in consultation with its legal counsels to challenge the decision by taking appropriate legal action that may be required in this regard.

Tata Chemicals: Tata Chemicals Ltd has informed BSE that the Company’s wholly owned subsidiary, Bio Energy Venture - 1 (Mauritius) Pvt. Ltd has entered into a Definitive Agreement (‘Agreement’) with Mr. Rademan Janse van Rensburg (‘Purchaser’) for sale of its entire stake in Grown Energy Zambeze Holdings Pvt. Ltd, Mauritius (‘GEZ Mauritius’) for a consideration of US$ 5.5 million subject to fulfilment of certain condition precedents laid down in the agreement (‘Closing Date’). As per the Agreement, the Purchaser will discharge the above consideration on deferred payment basis over a period of 5 years ending on December 31, 2020.


Biocon Ltd: The pharma company received approval to sell the generic equivalent of Astrazenaca Plc’s cholesterol-lowering pill Crestor in the European Union.

DLF: The real estate company plans to launch a new luxury property with, The Chanakya, as per media reports.

ICICI Bank: ICICI Bank announced that the Bank had secured the approval of shareholders at the AGM held on 29 June 2015 for the Board/Committee of the Board to borrow by way of securities including but not limited to bonds and non-convertible debentures upto Rs. 50,000 crore on private placement basis.

BHEL: BHEL commissioned a 101-MW gas-based combined cycle power plant on engineering, procurement and construction (EPC) basis in Tripura.

Allcargo Logistics: The logistic company reported a 14.30 per cent decline in net profit at Rs. 61.51 crore for the quarter ended December 2015 due to decline in income.

Jain Irrigation Systems Ltd: The company reported consolidated net profit of Rs 9.21 crore for the quarter ended on December 31, against a loss of Rs 39.68 crore in the year ago period.


Ramky Infrastructure Ltd: The companmy's net loss has narrowed to Rs 12.35 crore in the quarter ended December 31.

Eon Electric: The company has secured a contract worth Rs 40 crore for installing LED streetlights in Rajasthan. Under this project, Eon will install over 1 lakh LED streetlights across various cities in the state.

NALCO: The company plans to invest Rs. 20,550 crore for expansion of alumina refinery, according to reports.

Sensex, Nifty to open higher

Most Asian markets are higher with Japan's benchmark Nikkei up a percent. China's CSI300 has gained 2.07%. Hong Kong's Hang Seng is up 1.44%, South Korea's Kospi is up 1.2% and Taiwan's TWSE is higher by 1.3%. The result season is mostly out of the way and few names to announce their numbers include Net 4 India and Tirupati Inks.

Markets world over are heaving a sigh of relief. Not that obstacles have vanished in a jiffy but investors seem to be taking note of any positive vibes that come their way. Some cheer has come from the European Central Bank (ECB) as ECB President Mario Draghi said the central bank will not hesitate to act to boost its stimulus in March if it believes that recent financial-market turmoil or lower oil prices could weigh further on consumer prices. Back home, the prime minister Narendra Modi is reaching out to leaders of major political parties ahead of the Budget session of Parliament which begins on Feb 23.

The indices are set for a positive start. The Nifty’s resistance zone is around 7550 so investors may choose to tread cautiously around these levels. Worries around the Union Budget, upcoming State Elections and jittery global markets together will grant ample time to investors to accumulate stocks over at least 3-4 months. Most Asian markets are higher with Japan's benchmark Nikkei up a percent. China's CSI300 has gained 2.07%. Hong Kong's Hang Seng is up 1.44%, South Korea's Kospi is up 1.2% and Taiwan's TWSE is higher by 1.3%.  The result season is mostly out of the way and few names to announce their numbers include Net 4 India and Tirupati Inks.

The Government has extended for the second time U.K. Sinha’s term as Chairman of Securities & Exchange Board of India (SEBI).

Bharat Petroleum Corporation Ltd. (BPCL) says that the expansion work at its Kochi refinery is on track for scheduled commissioning in May this year, with about 90 per cent of the work done.

Titagarh Wagons Ltd. plans to merge its ship building business, currently carried out through subsidiaries, with the company, reports a business daily.

The Government announced the first-ever policy for the capital goods sector which envisages creation of 21 million additional jobs by 2025.

The Union Petroleum and Natural Gas Minister Dharmendra Pradhan has stressed on the need to enhance domestic production of Oil & Gas through process and technical improvements, besides enhanced exploratory coverage.

Piyush Goyal, Union Minister of State(IC) for Power, Coal and New & Renewable Energy said, “The efforts of Government have ushered the power sector in a new level of growth altogether which provides for the sector a possible investment opportunity, between 2015 & 2020, a five year period, of about $ 250 billion.

Reliance Jio Infocomm has teamed up with eight leading global carriers including British Telecom (BT), Deutsche Telekom, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM to forge an international operator alliance to bring innovative products and services, according to reports.

Birla Sun Life Mutual Fund launches FinGo

The launch of BSLMF FinGo follows the recent introduction of the 3-step eKYC from Birla Sun Life Mutual Fund, and is part of the company’s continued efforts to make the experience of mutual fund investing simpler, easier and more convenient for investors.

Birla Sun Life Asset Management Company Limited, a part of Aditya Birla Financial Services Group and investment manager for Birla Sun Life Mutual Fund (BSLMF), announced the launch of a user-friendly mobile application - FinGo offering users ease and convenience across a wide variety of services. Users can now use Birla Sun Life Mutual Fund FinGo to monitor their investments with Birla Sun Life Mutual Fund (BSLMF), perform seamless transactions on the go, post their queries, and service requests among a host of other conveniences. BSLMF FinGo is available for download on Google Play Store.

Speaking on the launch of BSLMF FinGo, A. Balasubramanian, Chief Executive Officer, Birla Sun Life Asset Management Company said, “Birla Sun Life Mutual Fund FinGo is our way to simplify mutual fund processes with digitization, to enhance its appeal across a wider set of users, and non-users across geographies. The app hosts smart, in-built features such as Quick Transact which allows users to save and repeat their favourite transactions. With its wide variety of services and utility, I am confident that BSLMF FinGo will add great value to our investors, as well as distribution partners.”

The launch of BSLMF FinGo follows the recent introduction of the 3-step eKYC from Birla Sun Life Mutual Fund, and is part of the company’s continued efforts to make the experience of mutual fund investing simpler, easier and more convenient for investors.

BSLMF FinGo is packed with functionalities ranging from Exploring investments, Investing and Transacting, Reviewing Investments, Calculators, Views and Updates and Services to name a few. Users can plan for their financial goals, browse through information of products from BSLMF, go through Fund Factsheets, invest, transact, review their investments, link folios, post queries, make service requests, and subscribe to notifications such as NFO, Dividend, or NAV updates. Users can also stay updated with views and information from BSLMF through Fund Manager Views, and Informative videos.

Free fall continuous in Wockhardt post poor Q3 results

Wockhardt posted a net profit after taxes, minority interest and share of profit of associates of Rs. 60.97 crore for the Q3FY16 as compared to Rs. 347.25 crore for the Q3FY15.

Shares of Wockhardt are currently trading 2.65% lower at Rs. 740.65 on BSE after the company last week posted poor Q3 results for the quarter ended December 31, 2015.

Wockhardt posted a net profit after taxes, minority interest and share of profit of associates of Rs. 60.97 crore for the Q3FY16 as compared to Rs. 347.25 crore for the Q3FY15. Total Income decreased from Rs. 1,376 crore for the quarter ended December 31, 2014 to Rs. 1,116.58 crore for the quarter ended December 31, 2015.

Sensex, Nifty consolidate gains

The INDIA VIX is down 9.59% at 22.3050. Out of 1,798 stocks traded on the NSE, 190 declined, 1,348 advanced and 260 remained unchanged today.

The Indian stock market rally on the back of firm global markets. Today, top gainers from NSE are Bank of Baroda, Vedanta, Tata Steel, Hindalco, Adani Ports, SBI, L&T, Axis Bank, Tata Motors and PNB.

The market continues to trade on a gung-ho note, on the back of strong gains in – metal, realty, capital goods, oil and gas, energy and auto shares.

At 1:27 PM, the S&P BSE Sensex is trading at 23,567 up 581 points, while NSE Nifty is trading at 7,167 up 186 points.

In broader market is out-performing the BSE headline index, the Midcap has gained over 3.49 percent at 9,950 and the Smallcap index has advanced 3.58 percent at 10,028.

Among Nifty gainers - Bank of Baroda and Vedanta have rallied over 10 percent each at Rs. 134 and Rs. 70.10. Tata Steel, Hindalco have jumped over 5 percent each at Rs.237.80 and Rs. 65.16, respectively.

Tata Steel, SBI, L&T, Coal India, Adani Ports and Tata Motors are among the gainers, whereas Bharti Airtel, HUL, Dr.Reddy's and Asian Paints are losing sheen on BSE.

The INDIA VIX is down 9.59% at 22.3050. Out of 1,798 stocks traded on the NSE, 190 declined, 1,348 advanced and 260 remained unchanged today.

A total of four stocks registered a fresh 52-week high in trades today, while 43 stocks touched a new 52-week low on the NSE.

Indian Rupee opened higher by 5 paise at 68.19/$ in early trade on Monday as against the previous close of 68.23/$. On Friday, Indian rupee scaled higher against the greenback, helped by modest recovery in the domestic equities. On macroeconomic side, US retail sales during January grew in line with the expectations at 0.2%, while core retail sales (excluding auto) were reported at.1%. In Europe, Eurozone Q4 GDP readings came in +.3% on q‐o‐q basis, while rising 1.5% on yoy basis. Germany's Q4 GDP rose by 0.3% on q‐o‐q and 2.1% on y‐o‐y basis. However, Eurozone industrial production numbers disappointed, falling 1% on mom basis.

Marksans Pharma slipped 7% to Rs.44.70 on BSE. The pharma company reported consolidated net profit of Rs.17.93 crore for the quarter ended December 31, 2015, registering decline of 35.29% yoy. The company’s revenue stood at Rs. 217.51 crore, up 1.97% yoy but down 14.88% qoq.

Bank of Baroda soared 11.5% to Rs.127.50 on BSE. The bank has posted a net loss of Rs. 3,342 crore for the quarter ended December 31, 2015 as compared to net profit of Rs. 333 crore for the quarter ended December 31, 2014.  The bank's Net Interest Income (NII) stood at  Rs. 2705.34 crore, registering decline of 17.67% yoy and 16.61% qoq.

NMDC surged 9.6% to Rs.85.80 on BSE. The company has fixed February 25, 2016 as the Record Date for the purpose of Payment of First Interim Dividend for the financial year 2015-16.  The company reported standalone net profit of Rs.655.04 crore for the quarter ended December 31, 2015, registering decline of 58.88% yoy.


Tata Motors jumped 2% to Rs.304.65 on BSE. The company is believed to be working on reducing the engine size for its diesel vehicles to circumvent the sales ban imposed by the Supreme Court in Delhi-NCR, reports a business daily. The Mumbai-based company is looking to downsize engines to below 2,000cc (2 litre) for its models, according to the financial newspaper.

ITC gained 1% to Rs.303.05 on BSE. The company is planning to invest Rs. 800 crore in Odisha over the next few years to set up a hotel property and a food processing park in the state, ITC Chairman and Managing Director Y C Deveshwar reportedly said at Make in India event. The hotel property will come up in Bhubaneshwar, while the food processing park details are being worked out, report added.