3:30 pm Market
closing It is a day of breaking records. The benchmark indices have ended at
record high levels once agian. The Sensex was up 98.84 points at 28008.90 and
the Nifty was up 20.65 points at 8383.30. About 1517 shares advanced, 1528
shares declined, and 105 shares were unchanged. Banks and auto lend major
support. Axis Bank was up 3 percent while Bajaj Auto, Tata Motors, Hero and ITC
were up 1-2 percent each. Among the laggrads were Cipla, Tata Steel, NTPC and
L&T.
02:55pm Interview Shemaroo Entertainment has had a good first half
this fiscal year. Its H1 FY15 PAT rose 73 percent year-on-year, driven by the
digital business growth. Hiren Gada, whole-time director and CFO, Shemaroo
Entertainment expects to see margin improvement ahead with digital business
improving ahead. He says the company aims to do better in the second half of
the fiscal year. The company’s EBITDA margins have been in the range of 23-27
percent. Gada says business on mobile platform has also been growing. 02:35pm
Logistics stocks in demand Transport Corporation, Gati, Snowman Logistics,
Patel Integrated and Allcargo Logistics rallied 3-12 percent.
02:25pm Adani
Enterprises in focus Gujarat-based Adani Enterprises turned profitable with
second quarter consolidated net at Rs 210 crore aided by strong operational
performance. The loss in the year-ago quarter was Rs 417 crore. The company
missed street expectations on topline and bottomline front but beat estimates
on operational front. Profit was expected at Rs 324 crore on revenue of Rs
15,584 crore for the quarter. Consolidated total income from operations grew by
3.4 percent to Rs 14,067 crore in the quarter ended September 2014 compared to
Rs 13,602 crore in same quarter last year. Core operating profit (earnings
before interest, tax, depreciation and amortisation) surged 64.1 percent
year-on-year to Rs 2,985 crore and margin expanded 780 basis points to 21.2
percent in the quarter gone by, which both were higher than analysts'
expectations of Rs 2,755 crore and 17.7 percent, respectively.
02:00pm Market
Check Equity benchmarks trimmed gains in afternoon trade with the Sensex
climbing 104.93 points to 28014.99 and the Nifty rising 21 points to 8383.65
led by banking & financial and auto stocks. About 1537 shares have
advanced, 1392 shares declined, and 116 shares are unchanged on the Bombay
Stock Exchange. Prolonging bullish tone of the market, Ravi Muthukrishnan,
Co-head research, ICICI Securities has a Nifty target of 9,200 in a year’s
time. In addition, he expects earnings to grow 16-18 percent in FY15-16. With
most earnings meeting street estimates, winter session of Parliament coming in
and anticipation of various reforms encircling the Budget, he sees huge upside
for the market hereon.
Rate sensitives like banks and autos indices touched
record highs ahead of the retail inflation data later today that is expected to
be lower than in September. A CNBC-TV18 poll expects the October CPI to drop to
5.63 percent versus 6.46 percent in September on account of recovery in monsoon
and sharp fall in commodity prices. Bajaj Hindusthan climbed over 5 percent
after the company reduced its net loss significantly to Rs 131 crore in
July-September quarter from Rs 509.5 crore in same quarter previous fiscal led
by lower expenses, cut in sugar business loss, higher other income and strong
profit in distillery business. Oil India fell nearly 3 percent after reporting
profit of Rs 608.3 crore on revenue of Rs 2,081 crore for the quarter, which
were lower than analysts' expectations of Rs 850 crore and Rs 2,600 crore,
respectively. Global markets remained under pressure. European markets like
Germany's DAX and France's CAC declined 1-1.5% after the announcement of
regulatory penalties for the alleged manipulation of forex markets. The UK
Financial Conduct Authority (FCA) has imposed fines totalling more than USD 1.7
billion on lenders like Citi Bank, JPMorgan Chase and UBS.
Moneycontrol Bureau
03:30 pm Market closing
It is a day of breaking records. The benchmark indices have ended at
record high levels once agian. The Sensex was up 98.84 points at
28008.90 and the Nifty was up 20.65 points at 8383.30. About 1517 shares
advanced, 1528 shares declined, and 105 shares were unchanged.
Banks and auto lend major support. Axis Bank was up 3 percent while
Bajaj Auto, Tata Motors, Hero and ITC were up 1-2 percent each.
Among the laggrads were Cipla, Tata Steel, NTPC and L&T.
02:55pm Interview
Shemaroo Entertainment has had a good first half this fiscal year. Its
H1 FY15 PAT rose 73 percent year-on-year, driven by the digital business
growth. Hiren Gada, whole-time director and CFO, Shemaroo Entertainment
expects to see margin improvement ahead with digital business improving
ahead. He says the company aims to do better in the second half of the
fiscal year.
The company’s EBITDA margins have been in the range of 23-27 percent.
Gada says business on mobile platform has also been growing.
02:35pm Logistics stocks in demand
Transport Corporation, Gati, Snowman Logistics, Patel Integrated and
Allcargo Logistics rallied 3-12 percent.
02:25pm Adani Enterprises in focus
Gujarat-based Adani Enterprises turned profitable with second quarter
consolidated net at Rs 210 crore aided by strong operational
performance. The loss in the year-ago quarter was Rs 417 crore.
The company missed street expectations on topline and bottomline front
but beat estimates on operational front. Profit was expected at Rs 324
crore on revenue of Rs 15,584 crore for the quarter.
Consolidated total income from operations grew by 3.4 percent to Rs
14,067 crore in the quarter ended September 2014 compared to Rs 13,602
crore in same quarter last year.
Core operating profit (earnings before interest, tax, depreciation and
amortisation) surged 64.1 percent year-on-year to Rs 2,985 crore and
margin expanded 780 basis points to 21.2 percent in the quarter gone by,
which both were higher than analysts' expectations of Rs 2,755 crore
and 17.7 percent, respectively.
02:00pm Market Check
Equity benchmarks trimmed gains in afternoon trade with the Sensex
climbing 104.93 points to 28014.99 and the Nifty rising 21 points to
8383.65 led by banking & financial and auto stocks.
About 1537 shares have advanced, 1392 shares declined, and 116 shares
are unchanged on the Bombay Stock Exchange.
Prolonging bullish tone of the market, Ravi Muthukrishnan, Co-head
research, ICICI Securities has a Nifty target of 9,200 in a year’s time.
In addition, he expects earnings to grow 16-18 percent in FY15-16.
With most earnings meeting street estimates, winter session of
Parliament coming in and anticipation of various reforms encircling the
Budget, he sees huge upside for the market hereon.
Rate sensitives like banks and autos indices touched record highs ahead
of the retail inflation data later today that is expected to be lower
than in September. A CNBC-TV18 poll expects the October CPI to drop to
5.63 percent versus 6.46 percent in September on account of recovery in
monsoon and sharp fall in commodity prices.
Bajaj Hindusthan climbed over 5 percent after the company reduced its
net loss significantly to Rs 131 crore in July-September quarter from Rs
509.5 crore in same quarter previous fiscal led by lower expenses, cut
in sugar business loss, higher other income and strong profit in
distillery business.
Oil India fell nearly 3 percent after reporting profit of Rs 608.3 crore
on revenue of Rs 2,081 crore for the quarter, which were lower than
analysts' expectations of Rs 850 crore and Rs 2,600 crore, respectively.
Global markets remained under pressure. European markets like Germany's
DAX and France's CAC declined 1-1.5% after the announcement of
regulatory penalties for the alleged manipulation of forex markets. The
UK Financial Conduct Authority (FCA) has imposed fines totalling more
than USD 1.7 billion on lenders like Citi Bank, JPMorgan Chase and UBS.
Read more at: http://www.moneycontrol.com/news/local-markets/record-high-again-sensex-ends-above-28000-nifty-at-8383_1225977.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/local-markets/record-high-again-sensex-ends-above-28000-nifty-at-8383_1225977.html?utm_source=ref_article
Moneycontrol Bureau
03:30 pm Market closing
It is a day of breaking records. The benchmark indices have ended at
record high levels once agian. The Sensex was up 98.84 points at
28008.90 and the Nifty was up 20.65 points at 8383.30. About 1517 shares
advanced, 1528 shares declined, and 105 shares were unchanged.
Banks and auto lend major support. Axis Bank was up 3 percent while
Bajaj Auto, Tata Motors, Hero and ITC were up 1-2 percent each.
Among the laggrads were Cipla, Tata Steel, NTPC and L&T.
02:55pm Interview
Shemaroo Entertainment has had a good first half this fiscal year. Its
H1 FY15 PAT rose 73 percent year-on-year, driven by the digital business
growth. Hiren Gada, whole-time director and CFO, Shemaroo Entertainment
expects to see margin improvement ahead with digital business improving
ahead. He says the company aims to do better in the second half of the
fiscal year.
The company’s EBITDA margins have been in the range of 23-27 percent.
Gada says business on mobile platform has also been growing.
02:35pm Logistics stocks in demand
Transport Corporation, Gati, Snowman Logistics, Patel Integrated and
Allcargo Logistics rallied 3-12 percent.
02:25pm Adani Enterprises in focus
Gujarat-based Adani Enterprises turned profitable with second quarter
consolidated net at Rs 210 crore aided by strong operational
performance. The loss in the year-ago quarter was Rs 417 crore.
The company missed street expectations on topline and bottomline front
but beat estimates on operational front. Profit was expected at Rs 324
crore on revenue of Rs 15,584 crore for the quarter.
Consolidated total income from operations grew by 3.4 percent to Rs
14,067 crore in the quarter ended September 2014 compared to Rs 13,602
crore in same quarter last year.
Core operating profit (earnings before interest, tax, depreciation and
amortisation) surged 64.1 percent year-on-year to Rs 2,985 crore and
margin expanded 780 basis points to 21.2 percent in the quarter gone by,
which both were higher than analysts' expectations of Rs 2,755 crore
and 17.7 percent, respectively.
02:00pm Market Check
Equity benchmarks trimmed gains in afternoon trade with the Sensex
climbing 104.93 points to 28014.99 and the Nifty rising 21 points to
8383.65 led by banking & financial and auto stocks.
About 1537 shares have advanced, 1392 shares declined, and 116 shares
are unchanged on the Bombay Stock Exchange.
Prolonging bullish tone of the market, Ravi Muthukrishnan, Co-head
research, ICICI Securities has a Nifty target of 9,200 in a year’s time.
In addition, he expects earnings to grow 16-18 percent in FY15-16.
With most earnings meeting street estimates, winter session of
Parliament coming in and anticipation of various reforms encircling the
Budget, he sees huge upside for the market hereon.
Rate sensitives like banks and autos indices touched record highs ahead
of the retail inflation data later today that is expected to be lower
than in September. A CNBC-TV18 poll expects the October CPI to drop to
5.63 percent versus 6.46 percent in September on account of recovery in
monsoon and sharp fall in commodity prices.
Bajaj Hindusthan climbed over 5 percent after the company reduced its
net loss significantly to Rs 131 crore in July-September quarter from Rs
509.5 crore in same quarter previous fiscal led by lower expenses, cut
in sugar business loss, higher other income and strong profit in
distillery business.
Oil India fell nearly 3 percent after reporting profit of Rs 608.3 crore
on revenue of Rs 2,081 crore for the quarter, which were lower than
analysts' expectations of Rs 850 crore and Rs 2,600 crore, respectively.
Global markets remained under pressure. European markets like Germany's
DAX and France's CAC declined 1-1.5% after the announcement of
regulatory penalties for the alleged manipulation of forex markets. The
UK Financial Conduct Authority (FCA) has imposed fines totalling more
than USD 1.7 billion on lenders like Citi Bank, JPMorgan Chase and UBS.
13:20
Sensex, Nifty continue to surge; Brent falls below $81/bbl
Brent crude dropped below USD 81 a barrel, holding just above a
four-year low as concerns over a mounting oil glut outweighed
geopolitical and supply disruption risks in Ukraine and Libya.
Read more at: http://www.moneycontrol.com/news/local-markets/record-high-again-sensex-ends-above-28000-nifty-at-8383_1225977.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/local-markets/record-high-again-sensex-ends-above-28000-nifty-at-8383_1225977.html?utm_source=ref_article
03:30 pm Market closing
It is a day of breaking records. The benchmark indices have ended at
record high levels once agian. The Sensex was up 98.84 points at
28008.90 and the Nifty was up 20.65 points at 8383.30. About 1517 shares
advanced, 1528 shares declined, and 105 shares were unchanged.
Banks and auto lend major support. Axis Bank was up 3 percent while
Bajaj Auto, Tata Motors, Hero and ITC were up 1-2 percent each.
Among the laggrads were Cipla, Tata Steel, NTPC and L&T.
02:55pm Interview
Shemaroo Entertainment has had a good first half this fiscal year. Its
H1 FY15 PAT rose 73 percent year-on-year, driven by the digital business
growth. Hiren Gada, whole-time director and CFO, Shemaroo Entertainment
expects to see margin improvement ahead with digital business improving
ahead. He says the company aims to do better in the second half of the
fiscal year.
The company’s EBITDA margins have been in the range of 23-27 percent.
Gada says business on mobile platform has also been growing.
02:35pm Logistics stocks in demand
Transport Corporation, Gati, Snowman Logistics, Patel Integrated and
Allcargo Logistics rallied 3-12 percent.
02:25pm Adani Enterprises in focus
Gujarat-based Adani Enterprises turned profitable with second quarter
consolidated net at Rs 210 crore aided by strong operational
performance. The loss in the year-ago quarter was Rs 417 crore.
The company missed street expectations on topline and bottomline front
but beat estimates on operational front. Profit was expected at Rs 324
crore on revenue of Rs 15,584 crore for the quarter.
Consolidated total income from operations grew by 3.4 percent to Rs
14,067 crore in the quarter ended September 2014 compared to Rs 13,602
crore in same quarter last year.
Core operating profit (earnings before interest, tax, depreciation and
amortisation) surged 64.1 percent year-on-year to Rs 2,985 crore and
margin expanded 780 basis points to 21.2 percent in the quarter gone by,
which both were higher than analysts' expectations of Rs 2,755 crore
and 17.7 percent, respectively.
02:00pm Market Check
Equity benchmarks trimmed gains in afternoon trade with the Sensex
climbing 104.93 points to 28014.99 and the Nifty rising 21 points to
8383.65 led by banking & financial and auto stocks.
About 1537 shares have advanced, 1392 shares declined, and 116 shares
are unchanged on the Bombay Stock Exchange.
Prolonging bullish tone of the market, Ravi Muthukrishnan, Co-head
research, ICICI Securities has a Nifty target of 9,200 in a year’s time.
In addition, he expects earnings to grow 16-18 percent in FY15-16.
With most earnings meeting street estimates, winter session of
Parliament coming in and anticipation of various reforms encircling the
Budget, he sees huge upside for the market hereon.
Rate sensitives like banks and autos indices touched record highs ahead
of the retail inflation data later today that is expected to be lower
than in September. A CNBC-TV18 poll expects the October CPI to drop to
5.63 percent versus 6.46 percent in September on account of recovery in
monsoon and sharp fall in commodity prices.
Bajaj Hindusthan climbed over 5 percent after the company reduced its
net loss significantly to Rs 131 crore in July-September quarter from Rs
509.5 crore in same quarter previous fiscal led by lower expenses, cut
in sugar business loss, higher other income and strong profit in
distillery business.
Oil India fell nearly 3 percent after reporting profit of Rs 608.3 crore
on revenue of Rs 2,081 crore for the quarter, which were lower than
analysts' expectations of Rs 850 crore and Rs 2,600 crore, respectively.
Global markets remained under pressure. European markets like Germany's
DAX and France's CAC declined 1-1.5% after the announcement of
regulatory penalties for the alleged manipulation of forex markets. The
UK Financial Conduct Authority (FCA) has imposed fines totalling more
than USD 1.7 billion on lenders like Citi Bank, JPMorgan Chase and UBS.
13:20
Sensex, Nifty continue to surge; Brent falls below $81/bbl
Brent crude dropped below USD 81 a barrel, holding just above a
four-year low as concerns over a mounting oil glut outweighed
geopolitical and supply disruption risks in Ukraine and Libya.
Read more at: http://www.moneycontrol.com/news/local-markets/record-high-again-sensex-ends-above-28000-nifty-at-8383_1225977.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/local-markets/record-high-again-sensex-ends-above-28000-nifty-at-8383_1225977.html?utm_source=ref_article