Indian stock market daily morning report
Markets ended lower on Monday as investors turned cautious and booked
profits ahead of the RBI monetary policy review on Tuesday. FMCG majors
coupled with bank shares contributed the most to the decline.
The 30-share Sensex ended down 113 points at 20,570 and the 50-share Nifty closed 44 points lower at 6,101.
- Shares of two gold finance companies hit their upper circuit limits of 5% each on BSE on market buzz that the central bank may allow them to lend 75% of the value of jewellery compared with 60% at present.
Muthoot Finance and Manappuram Finance were both locked at their respective 5% upper circuit of Rs 104.70 and Rs 15.73.
- Bharat Gears was locked at 20% upper circuit at Rs 42 on BSE after net profit jumped 672.9% to Rs 3.71 crore on 8.5% growth in net sales to Rs 108.69 crore in Q2 September 2013 over Q2 September 2012.
- Ajanta Pharma closed 14.74% up at Rs 839.75 on BSE after net profit surged 155% to Rs 56 crore on 50% growth in revenue from operations to Rs 280 crore in Q2 September 2013 over Q2 September 2012.
- Colgate-Palmolive (India) closed 3.96% down at Rs 1,228.10 on BSE after net profit declined 24.51% to Rs 109.52 crore on 16% growth in net sales to Rs 895.70 crore in Q2 September 2013 over Q2 September 2012.
- Among the 13 BSE Sectoral Indices, 3 sectors ended the day in positive while 10 sectors ended in negative. Top Gainers: BSE Consumer Durables up by 1.29% and bSe Capital Goods by 0.98%. Top Losers: BSE FMCG down by 2.56% and BSE Realty by 2.10%.
Market breadth was negative at ~0.702 as investors sold large cap stocks. On provisional basis, FII's bought Rs 6.37bn worth of Indian equities and DII's sold Rs 9.03 worth of equities.
Economic and Corporate Developments
- The government and the RBI are considering easing the 80:20 rule that requires importers to supply at least 20% of their imports to exporters.
Officials said the rule is inhibiting imports and traders have made a presentation to the government to relax the condition as it is troublesome for them to show proof of export for every lot of imports.
Buzzing Stocks
- Excel Crop Care was locked at 5% upper circuit at Rs 289.40 on BSE after the company said its board will consider a scheme of arrangement between the company and Gujarat-based TML Industries.
- Dabur India closed 3.75% down at Rs 175.65 on BSE after consolidated net profit rose 23.4% to Rs 249.74 crore on 14.9% growth in net sales to Rs 1,749 crore in Q2 September 2013 over Q2 September 2012.
- HOV Services hit an upper circuit limit of 20% at Rs 38.90 on BSE on a media report that the company has put its BPO company, SourceHOV for sale and is expecting a valuation of $1.2 billion.
- Neyveli Lignite Corporation closed 1.47% down at Rs 57.05 on BSE after net profit declined 28.3% to Rs 240 crore on 2.5% growth in net sales to Rs 1,382.82 crore in Q2 September 2013 over Q2 September 2012.
- Taj GVK Hotels & Resorts lost 1.16% to Rs 55.20 on BSE after the company reported net loss of Rs 1.90 crore in Q2 September 2013 as against net profit of Rs 1.6- crore in Q2 September 2012.
- Essel Propack closed 5.40% up at Rs 43.95 on BSE after consolidated net profit rose 23.45% to Rs 28.69 crore on 10.38% increase in net total income from operations to Rs 526.07 crore in Q2 September 2013 over Q2 September 2012.
- Bharti Infratel closed 1.50% dwon at Rs 154.15 on BSE after consolidated net profit fell 22.43% to Rs 277.40 crore on 2.35% increase in revenue to Rs 2,683.70 crore in Q2 September 2013 over Q1 June 2013.
- Commercial Engineers & Body Builders Company lost 4.6% at Rs 11 on BSE after the company reported net loss of Rs 15.0- crore in Q2 September 2013 as against net profit of Rs 16.29 crore in Q2 September 2012.
- Everest Industries closed 13.71% down at Rs 129.95 on BSE after the company reported net loss of Rs 6.65 crore in Q2 September 2013 as against net profit of Rs 12.51 crore in Q2 September 2012.
- Kolte-Patil Developers rose 3.82%, in the morning trade, to Rs 80.20 on BSE after consolidated net profit jumped 64.4% to Rs 32.23 crore on 1.3% fall in net sales to Rs 187.43 crore in Q2 September 2013 over Q2 September 2012.
- KEC International closed 10.86% up at Rs 34.20 on BSE after consolidated net profit surged 34% to Rs 22 crore on 6.6% growth in net sales to Rs 1,77- crore in Q2 September 2013 over Q2 September 2012.
- Just Dial closed 3.13% up at Rs 1,057.95 on BSE after net profit rose 97.93% to Rs 28.66 crore on 28.56% rise in net sales to Rs 112.66 crore in Q2 September 2013 over Q2 September 2012.
- JSW Energy closed 2.71% down at Rs 44.95 on BSE after net profit fell 35.82% to Rs 163 crore on 2.5% decline in total income from operations to Rs 2,025 crore in Q2 September 2013 over Q2 September 2012.
The 30-share Sensex ended down 113 points at 20,570 and the 50-share Nifty closed 44 points lower at 6,101.
- Shares of two gold finance companies hit their upper circuit limits of 5% each on BSE on market buzz that the central bank may allow them to lend 75% of the value of jewellery compared with 60% at present.
Muthoot Finance and Manappuram Finance were both locked at their respective 5% upper circuit of Rs 104.70 and Rs 15.73.
- Bharat Gears was locked at 20% upper circuit at Rs 42 on BSE after net profit jumped 672.9% to Rs 3.71 crore on 8.5% growth in net sales to Rs 108.69 crore in Q2 September 2013 over Q2 September 2012.
- Ajanta Pharma closed 14.74% up at Rs 839.75 on BSE after net profit surged 155% to Rs 56 crore on 50% growth in revenue from operations to Rs 280 crore in Q2 September 2013 over Q2 September 2012.
- Colgate-Palmolive (India) closed 3.96% down at Rs 1,228.10 on BSE after net profit declined 24.51% to Rs 109.52 crore on 16% growth in net sales to Rs 895.70 crore in Q2 September 2013 over Q2 September 2012.
- Among the 13 BSE Sectoral Indices, 3 sectors ended the day in positive while 10 sectors ended in negative. Top Gainers: BSE Consumer Durables up by 1.29% and bSe Capital Goods by 0.98%. Top Losers: BSE FMCG down by 2.56% and BSE Realty by 2.10%.
Market breadth was negative at ~0.702 as investors sold large cap stocks. On provisional basis, FII's bought Rs 6.37bn worth of Indian equities and DII's sold Rs 9.03 worth of equities.
Economic and Corporate Developments
- The government and the RBI are considering easing the 80:20 rule that requires importers to supply at least 20% of their imports to exporters.
Officials said the rule is inhibiting imports and traders have made a presentation to the government to relax the condition as it is troublesome for them to show proof of export for every lot of imports.
Buzzing Stocks
- Excel Crop Care was locked at 5% upper circuit at Rs 289.40 on BSE after the company said its board will consider a scheme of arrangement between the company and Gujarat-based TML Industries.
- Dabur India closed 3.75% down at Rs 175.65 on BSE after consolidated net profit rose 23.4% to Rs 249.74 crore on 14.9% growth in net sales to Rs 1,749 crore in Q2 September 2013 over Q2 September 2012.
- HOV Services hit an upper circuit limit of 20% at Rs 38.90 on BSE on a media report that the company has put its BPO company, SourceHOV for sale and is expecting a valuation of $1.2 billion.
- Neyveli Lignite Corporation closed 1.47% down at Rs 57.05 on BSE after net profit declined 28.3% to Rs 240 crore on 2.5% growth in net sales to Rs 1,382.82 crore in Q2 September 2013 over Q2 September 2012.
- Taj GVK Hotels & Resorts lost 1.16% to Rs 55.20 on BSE after the company reported net loss of Rs 1.90 crore in Q2 September 2013 as against net profit of Rs 1.6- crore in Q2 September 2012.
- Essel Propack closed 5.40% up at Rs 43.95 on BSE after consolidated net profit rose 23.45% to Rs 28.69 crore on 10.38% increase in net total income from operations to Rs 526.07 crore in Q2 September 2013 over Q2 September 2012.
- Bharti Infratel closed 1.50% dwon at Rs 154.15 on BSE after consolidated net profit fell 22.43% to Rs 277.40 crore on 2.35% increase in revenue to Rs 2,683.70 crore in Q2 September 2013 over Q1 June 2013.
- Commercial Engineers & Body Builders Company lost 4.6% at Rs 11 on BSE after the company reported net loss of Rs 15.0- crore in Q2 September 2013 as against net profit of Rs 16.29 crore in Q2 September 2012.
- Everest Industries closed 13.71% down at Rs 129.95 on BSE after the company reported net loss of Rs 6.65 crore in Q2 September 2013 as against net profit of Rs 12.51 crore in Q2 September 2012.
- Kolte-Patil Developers rose 3.82%, in the morning trade, to Rs 80.20 on BSE after consolidated net profit jumped 64.4% to Rs 32.23 crore on 1.3% fall in net sales to Rs 187.43 crore in Q2 September 2013 over Q2 September 2012.
- KEC International closed 10.86% up at Rs 34.20 on BSE after consolidated net profit surged 34% to Rs 22 crore on 6.6% growth in net sales to Rs 1,77- crore in Q2 September 2013 over Q2 September 2012.
- Just Dial closed 3.13% up at Rs 1,057.95 on BSE after net profit rose 97.93% to Rs 28.66 crore on 28.56% rise in net sales to Rs 112.66 crore in Q2 September 2013 over Q2 September 2012.
- JSW Energy closed 2.71% down at Rs 44.95 on BSE after net profit fell 35.82% to Rs 163 crore on 2.5% decline in total income from operations to Rs 2,025 crore in Q2 September 2013 over Q2 September 2012.
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