Friday 29 April 2016
Govt may provide Rs 200 cr each for 3 new bulk drug parks
Government is looking at the financial viability for providing Rs 200 crore each to three new bulk drug manufacturing parks in order to create common minimum facilities, Parliament was informed today. In 2013, government had constituted a high level committee headed by V M Katoch to study the whole issue of active pharmaceutical ingredients (APIs) of critical importance. "The committee has since submitted its recommendations. After examining the recommendations, government is now looking into the financial viability of supporting the proposal for providing assistance for common minimum facilities for three greenfield bulk drugs/API parks to the extent of Rs 200 crore each," Minister of State for Chemicals and Fertilisers Hansraj Gangaram Ahir said in a written reply to the Rajya Sabha.
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Indian Stock Updates on Today's Market
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The market is seeing sudden spurt in buying aided by heavyweights. The Sensex is up 83.21 points or 0.3 percebt at 25686.31, and the Nifty is up 21.30 points or 0.3 percent at 7868.55. About 920 shares have advanced, 519 shares declined, and 77 shares are unchanged. Lupin, Cipla, Tata Steel, Maruti and Axis Bank are top gainers while ICICI Bank, Bharti, M&M, HUL and Reliance are losers in the Sensex.
HCL Tech extended Thursday's fall after weak earnings and was down nearly 5 per cent to be the top loser in Nifty. Idea Cellular, which reported earnings post market hours yesterday, was down 2.7 per cent. The telecom operator reported 25 per cent sequential drop in its net profit at Rs 575 crore for the March quarter.
Indian Shares Updates on Today's Market
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The S&P BSE Sensex made a smart recovery from early morning losses to gain over 100 points on Friday, led by gains in Infosys, HDFC Bank, Sun Pharma and Lupin.The Nifty50 was trading above its support level of 7,850, supported by gains in power, consumer durable, capital goods, and banking stocks.
Idea Cellular down as much as 4.1 pct.India's 3rd largest telecom company posts a near 39 pct fall in March-quarter profit.Voice traffic growth of 9 pct y-o-y and data traffic growth of 51 pct y-o-y, both missed estimates, according to CLSA.Idea, along with Bharti Airtel and Vodafone's India unit have been heavily spending on ramping up 4G networks in anticipation of Reliance Industries 4G telecom service launch later this year.
Wednesday 27 April 2016
79 investment proposals worth Rs 3,300 cr cleared: HP Minister
Himachal Pradesh government has approved 79 proposals envisaging investment of Rs 3,300.16 crore out of total 117 proposals received in recent investor meets, state Industries Minister Mukesh Agnihotri said today. The minister said as many as 117 Industrial proposals with estimated investment of Rs 6,031.37 crore were received as a result of "investors meets" organised by the government at Mumbai, Bengaluru, Ahmedabad and New Delhi last year.
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Oil prices jump on weak dollar, strong investor appetite
Crude oil futures rose half a dollar in early Asian trading on Wednesday and remained near 2016 highs on the back of strong investor sentiment and a weak dollar, although analysts warned this month's bull-run could soon run out of steam. International Brent crude futures were trading at USD 46.26 per barrel at 0023 GMT, up 52 cents, or 1.1 percent, from their last settlement. US West Texas Intermediate (WTI) crude was also up 52 cents, or 1.2 percent, at USD44.56 a barrel. WTI was further lifted after the American Petroleum Institute (API) reported a drawdown of nearly 1.1 million barrels in U.S. crude inventories last week versus a 2.4 million-barrel build expected by analysts in a Reuters poll.
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The market has opened lower as the Sensex is down 86.39 points or 0.3 percent at 25920.91. The Nifty is down 20.95 points or 0.3 percent at 7941.70. About 279 shares have advanced, 121 shares declined, and 31 shares are unchanged. Bharti Airtel, ONGC, Adani Ports, Coal India and BHEL are top gainers while Axis Bank, ICICI Bank, M&M, Maruti and Dr Reddy's Labs are losers in the Sensex.
Banking stocks underperformed, with the Nifty Bank slipping 0.5 per cent in early trade. Private lender Axis Bank was the top Nifty loser, falling over 3 per cent, after it placed Rs 22,600 crore worth of corporate loans under a "watch list". Over two years, 60 per cent of these loans can slip into non-performing assets, the lender said.
Indian Share Market Trading Terms and Updates
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The S&P BSE Sensex slipped over 100 points on opening before paring most losses to trade rangebound in trade on Wednesday led by losses in ICICI Bank, HDFC, SBI and Lupin.The 50-share NSE Nifty50 traded around its crucial psychological level of 7,950 dragged by banking, pharma, IT and financial services stocks.
Axis Bank Ltd down as much as 4.6 pct to its lowest since April 20; posts biggest intraday pct fall since Feb. 11.India's third-biggest private sector lender by assets sees bad loans rising in the current financial year.Lender also expects credit costs to be sharply higher, after Q4 profit fall.While this increased transparency is desirable and positive, we believe the higher stress guidance is likely to negatively affect the stock, says HSBC.
Tuesday 26 April 2016
Maruti Q4 net profit falls 12% at Rs 1134 cr on higher tax
Maruti has posted lower profit in January-March quarter on higher tax and lower other income. The four-wheeler major's net profit fell 11.7 percent in Q4FY16 at Rs 1133.6 crore from Rs 1284.2 crore in corresponding quarter last fiscal. During the quarter, total income rose 12.3 percent at Rs 15306 crore in Q4 against Rs 13624.8 crore year-on-year. In Q4, other income fell to Rs 121.2 crore against Rs 320 crore on annual basis. The company has said that loss of 10,000 units due to reservation agitation, increased advertising expenses and lower other income slightly impacted profits this quarter.
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Credit Suisse downgrades Just Dial on JD Omni concerns
Credit Suisse has downgraded Just Dial to neutral from outperform with a reduced target price of Rs Rs 950 from Rs 1000. The brokerage is not very upbeat on the stock even though it has has more than doubled from its recent lows. Credit Suisse feels that maintaining pace of paid listing growth, particularly outside the top-ten cities, and competition from vertical players and others are challenges for Just Dial.
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Indian Stock Market Trading News and Levels
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The market has opened lower as the Sensex is down 77.87 points or 0.3 percent at 25601.06. The Nifty is down 21.90 points or 0.3 percent at 7833.15. About 313 shares have advanced, 357 shares declined, and 32 shares are unchanged. Hindalco, Bharti, Tata Steel, M&M and Axis Bank are top gainers while ICICI Bank, ITC, GAIL, Maruti and Hero are losers in the Sensex.
Indian stock markets opened lower, as expected. The BSE Sensex declined over 100 points, while the Nifty slipped below 7,850 on weak global cues.Tobacco major ITC, which has a large weightage in the Nifty, traded 1.5 per cent lower. Private lender ICICI Bank slipped 1.3 per cent. Gail India, Tata Motors and HCL Tech were other Nifty stock that traded with over 1 per cent losses.
Indian Share Market News Updates and Levels
The S&P BSE Sensex slipped over 100 points in morning trade on Tuesday, led by losses in ITC, ICICI BankBSE -2.19 %, Tata Motors, Axis BankBSE -0.91 %, and Sun Pharma.The Nifty50 slipped below its crucial psychological level of 7850 weighed down by losses in power, oil & gas, consumer durable, capital goods, banks, and auto stocks.
The Sensex .BSESN fell for a second consecutive session on Monday as worries about increased capex hit heavyweight Reliance Industries (RELI.NS), while Cairn India (CAIL.NS) was hit after posting a quarterly loss.The Nifty .NSEI fell 0.56 percent to close at 7,855.05, while the Sensex .BSESN ended down 0.62 percent at 25,678.93.
Monday 25 April 2016
Bharti Airtel up 2%, to consider buy back of shares
Share prices of Bharti Airtel advanced 2 percent intraday Monday as the company's board is going to consider the buy back of shares. "The company will consider to recommend final dividend for the financial year ended March 31, 2016 or buy back of equity shares of the company or a combination thereof, in its meeting scheduled to be held on April 27, 2016," as per BSE release. Also, it will consider and take on record the audited financial results for the fourth quarter (Q4) and financial year ended on March 31, 2016, in the said meeting.
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UltraTech Q4 beats estimates, profit rises 11% on strong EBITDA
UltraTech Cement 's fourth quarter earnings beat analysts' expectations on all counts Monday with standalone profit rising 10.9 percent year-on-year to Rs 681.4 crore, helped by lower tax & finance cost and better operational performance. Revenue increased 4.7 percent to Rs 6,503.66 crore in January-March quarter compared to Rs 6,211 crore in same quarter last fiscal, driven by volume growth.
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The market has kick-started the week with mild gains. The Sensex is up 22.17 points at 25860.31, and the Nifty is down 4.50 points at 7894.80. About 357 shares have advanced, 168 shares declined, and 28 shares are unchanged. GAIL, Bharti Airtel, Dr Reddy's, SBI and HDFC Bank are top gainers while BHEL, Hero MotoCorp, Lupin, Maruti and ITC are losers.
NTPC was the top Nifty loser, down 1.4 per cent to Rs 142. Reliance Industries which reported earnings post the market hours on Friday also fell 1 per cent to Rs 1,029. Tata Steel, ONGC, Asian Paints, HDFC, ITC, Lupin, HDFC Bank, Sun Pharma, Eicher Motors and Tata Motors were also among the losers, down 0.4-1 per cent each.
Indian Share Market Alert and News
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The S&P BSE Sensex turned choppy in morning trade on Monday led by losses in RIL, HDFC, ITC, HDFC Bank, and ONGC. The Nifty50 was trading around its crucial resistance level of 7900weighed down by losses in power, oil & gas, and metal stocks. The broader market outperformed the benchmark indices with the BSE Midcap and smallcap indicies climbing 0.25 and 0.30 per cent, respectively.
Indian shares edged down on Friday, a day after hitting their highest levels this year, as investors booked profits in recent outperformers, but indexes still posted a near 1 percent weekly gain on the back of strong overseas flows.
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