Apr 26

Daily Market Commentary : 25th April 2016

The Indian equity market started off the week on a weak note as benchmarks gradually slipped throughout the day led by selling pressure in the power, metals, oil & gas and the auto stocks. Even the mid-cap and small-cap indices ended in the red. IT and telecom indices were the exceptions as they managed to close with marginal gains. with a loss of 44 points at 7,855 while Sensex ended with a loss of over 159 points at 25679.

M&M Financial Services Ltd climbed 8% to Rs.297 after the company posted Q4 results. The Group has posted a net profit after taxes and minority interest of Rs. 4113.267 mn for the Quarter ended March 31, 2016 as compared to Rs. 3672.551 mn for the Quarter ended March 31, 2015

Kesar Terminals & Infrastructure rallied 10.6% to Rs.433.80 after the logistics company said that it has commenced rail terminal operations and movement of goods train from the Multimodal Composite Logistics hub of Kesar Multimodal Logistics (KMLL) – the subsidiary of the company at Powarkheda, district Hoshangabad, Madhya Pradesh (MP).

Kalpataru Power Transmission Ltd gained 1.8% to Rs.217 on BSE. The company received new orders in excess of Rs.1,150 crore.

Persistent Systems Ltd slipped 3.8% to Rs. 717. The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 808.07 million for the Quarter ended March 31, 2016 as compared to Rs. 760.50 mn for the Quarter ended March 31, 2015.

Cairn India Ltd dropped 3% to Rs.145. The company has slashed its capital expenditure for FY17 by one-third to US$100 million (Rs. 660 crore), reports a business daily. In an investor presentation post announcing FY16 earnings, Cairn India said that for FY17, a capex of US$100 million is planned.

Sasken Communication cracked 4.2% to Rs.346 on BSE. The company reported consolidated net profit of Rs. 174.63 crore for the quarter ended March 31, 2016, registering growth of 1451.71% qoq and 5866.18%. The company’s consolidated revenue stood at Rs. 119.82 crore, down 5.1% qoq but up 14.8%.

Bharti Airtel gained 1.6% to Rs.359 on BSE. The board of directors of the company will consider 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.

Ultratech Cement closed marginally higher by 0.21% at Rs.3,277.60 on BSE. The company reported consolidated net profit of Rs. 722.56 crore for the quarter ended March 31, 2016, registering growth of 9.95% yoy and 32.36%.

USDINR trade today trading down 22 paise at 66.71

Out of 1,402 stocks traded on the NSE, 888 declined and 470 advanced today.

Top 5 Nifty Gainers: Tata Steel (1.84%) M&M (1.17%), BHEL (1.07%), NTPC (1.00%), and ONGC (0.73%).

Top 5 Nifty Losers: ICICI Bank (-1.94%), Adani Ports & Sez (-1.68%), Hero Moto Corp (-1.48%), Bajaj Auto (-0.75%) and Axis Bank (-0.72%).

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