Jul 29

Daily Market Commentary : 28th July 2016

The Indian stock market rallied for second consecutive session amid smooth rollovers in F&O expiry. Sentiment got a boost after the Union Cabinet cleared changes in the GST Constitutional Amendment Bill in a bid to strengthen the chances of passage of the crucial legislation that can potentially transform the tax structure by subsuming all indirect taxes and creating a single market. In addition, short covering also saw indices move higher towards the end. Nifty closed with a gain of 51 points at 8,666, while BSE Sensex ended with a gain of 184 points at 28,209.

On the global front, Asian stocks closed on mixed note. The Shanghai Composite index and Hong Kong’s Hang Seng index closed marginally lower. Nikkei 225 gained 1%.

Indian Hume Pipe hit 20% upper circuit after it reported 311.17% rise in net profit at Rs.26 crore for the quarter ended June 30, 2016 against Rs.6.32 crore in the corresponding quarter a year ago.

Asian Paints climbed 6% to Rs.1126 after it posted 18.46% increase in consolidated net profit at Rs.552.56 crore for the first quarter ended June 30, 2016 as compared to net profit of Rs.466.42 crore in the same period of previous fiscal.

Tree House dropped 3.4% on BSE. The company reported net loss of Rs.45.48 crore, compared to Rs.18 crore profit same period last year.

Sintex Industries slipped 3.7% on BSE. The company reported 10% rise in net profit at Rs.62.78 crore for the quarter ended June 30, 2016 against Rs.56.96 crore in the corresponding quarter a year ago.

Punjab National Bank fell 2.8% after it reported 57% year-on-year fall in net profit figures at Rs.306 crore for the quarter ended June 30, 2016.

Logistic stocks closed higher on the BSE. The Union cabinet on Wednesday approved key changes to the constitution amendment bill for goods and services tax, doing away with a 1% additional levy on supply of goods, and proposing full compensation to states for five years for revenue loss arising from transition to GST.

Menon Pistons Ltd rallied 5% to Rs.155 after the company said its board approved splitting of shares of the company from Rs.10 to Rs.1 a share.

USDINR trade today trading up six paise at 67.08 per US dollar..

Out of 1,518 stocks traded on the NSE, 638 declined and 818 advanced today.

Top 5 Nifty Gainers: CIPLA (2.29%), Bajaj Auto (1.74%), Tata Steel (1.66%), Lupin Ltd (1.54%) and Sun Pharma (1.43%).

Top 5 Nifty Losers: ICICI Bank (-3.16%), Bharti Airtel (-2.59%), BHEL (-2.41%), HDFC (-1.53%) and Wipro (-1.45%)

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Jul 28

Daily Market Commentary : 27th July 2016

Stock market in India ended with modest gains on Wednesday amid a highly volatile trading session. Indices slipped sharply lower in the first half with the Nifty slipping below the 8600 mark. However as the day progressed benchmarks stabilized and staged a smart recovery in the last half an hour led by gains in the telecom, auto, telecom and banking stocks. The pharma, FMCG, consumer durables and realty stocks. Nifty closed with a gain of 25 points at 8,616, while BSE Sensex ended with a gain of 48 points at 28,024.

On the global front, Asian shares closed mixed. Japan’s Nikkei and Hong Kong’s Hang Seng gained between 0.50%-1% while China’s Shanghai Composite closed in red.

Dabur gained 1.4% after the company reported 11.8% rise in net profit at Rs.292.80 crore for the quarter ended June 30, 2016 against Rs.261.84 crore in the corresponding quarter a year ago.

Zee Entertainment rose 2.8% to Rs.487 on BSE. The company has posted a net profit of Rs.1703.60 million for the quarter ended June 30, 2016 as compared to Rs.1376.80 million for the quarter ended June 30, 2015.

Dr Reddys Laboratories dropped 10% to Rs.2988 on BSE. The country largest car maker will start selling its first light commercial vehicle (LCV) – Super Carry towards the end of August. The company has posted a net profit after taxes and share of profit of associates of Rs.1535 million for the quarter ended June 30, 2016 as compared to Rs.6474 million for the quarter ended June 30, 2015.

Maruti Suzuki India advanced 1.6% to Rs.4559 on BSE. The company has posted a net profit of Rs.14,862 million for the quarter ended June 30, 2016 as compared to Rs.12,081 million for the quarter ended June 30, 2015.

Shree Renuka Sugars soared 11% after the company has informed BSE that under the Judicial Protection Law (11.101/2005 Recuperacao Judicial), the designated court in Sao Paulo, Brazil has on July 26, 2016, approved the Re-organisation Plan of the Company’s subsidiary viz., Renuka Vale do Ivai S/A (Renuka VDI).

Adf Foods rallied 13% to Rs.109 on BSE. The company experienced a spurt in volumes by more than 24.45 times. The company’s has approved a buyback of Equity Shares at a price not exceeding INR 125 per equity share of Rs. 10/- each for an aggregate amount not exceeding INR 18 crore.

Ingersoll-Rand (India) Ltd jumped 5% to Rs.756 after the company reported its net profit at Rs.15.8 crore for the quarter ended June 30, 2016 as compared to Rs.7.2 crore for the quarter ended June 30, 2015.

Ambuja Cements slipped 1% to Rs.267 on BSE. The company has posted a net profit of Rs.3995.10 million for the quarter ended June 30, 2016 as compared to Rs.2263.50 million for the quarter ended June 30, 2015.

PI Industries climbed 3.4% to Rs.762. The company has posted a net profit of Rs.1268.60 million for the quarter ended June 30, 2016 as compared to Rs.858.70 million for the quarter ended June 30, 2015.

Educomp Solutions Limited surged 5.5% to Rs.14.05 after the company has accorded its approval to divest its entire shareholding in Vidya Mandir Classes Limited (being 67% shareholding of VMCL), a subsidiary of the Company and Educomp Learning Hour Private Limited, a step down subsidiary of the Company (hereinafter collectively referred to as the “Sale Share”)- by executing the share purchase agreement dated July 25, 2016 with the buyer.

USDINR trade today trading up nine paise at 67.18 per US dollar.

Out of 1,494 stocks traded on the NSE, 720 declined and 717 advanced today.

Top 5 Nifty Gainers: Asian Paints (7.41%), Maruti Suzuki (1.58%), SBI (1.12%), Coal India (1.09%) and ITC Ltd (0.95%).

Top 5 Nifty Losers: Tata Steel (-1.92%), L&T (-1.26%), Infosys Ltd (-0.92%), Hind. Unilever (-0.50%) and Wipro (-0.47%)

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Jul 27

Daily Market Commentary : 26th July 2016

After a strong rally in the previous session, indices failed to carry forward the momentum on Tuesday. Indices that held firm throughout the day slipped sharply in the last hour amid a sudden bout of selling witnessed in the realty, auto, health care and banking stocks. Sentiment was hit after index heavyweight Dr Reddy’s Labs announced disappointing quarterly earnings. The stock dropped 4.4% as it posted a net profit of Rs.4091 million for the quarter ended June 30, 2016 as compared to Rs.4934 million for the quarter ended June 30, 2015. Nifty closed with a loss of 45 points at 8,591, while BSE Sensex ended with a loss of 119 points at 27,977.

On the global front, Asian stocks closed on mixed note. Japanese stocks edged lower as expectations receded with regard to the government’s soon-to-be announced fiscal stimulus package. The Nikkei 225 Average closed down 1.45%. The Shanghai Composite index and Hong Kong’s Hang Seng index closed up.

Amtek Auto surged 7.5% to Rs.51.60 on BSE. The company expanded its planned asset sale to include additional overseas businesses as it looks to reduce leverage, as per media reports.

KG Denim climbed 7% to Rs.98 on BSE. The company reported 481.25% increase in net profit at Rs.9.30 crore for the quarter ended June 30, 2016 against Rs.1.60 crore in the corresponding quarter a year ago. During the quarter under review, EBITDA were at Rs.23.5 crore compared with Rs.15.9 crore.

Claris Lifesciences slipped 1.8% to Rs.246 on the BSE after the company announced that it has received Abbreviated New Drug Application (ANDA) approval for Bupivacaine injection.

Himalya International hit 20% upper circuit at Rs.10.96 on BSE.The company reported net loss at Rs.0.4 crore for the quarter ended June 30, 2016 as compared to Rs. 3.5 crore for the quarter ended June 30, 2015. The company’s total income has increased by 15.1% at Rs.28.9 crore for the quarter against Rs.25.1 crore in the corresponding quarter of the previous year.

Bajaj Finance jumped 9.7% to Rs.9,853 after the company posted a net profit of Rs.424 crore for the quarter ended June 30, 2016 as compared to Rs.276 crore for the quarter ended June 30, 2015. The company’s total income has increased from Rs.1655.8 crore for the quarter ended June 30, 2015 to Rs.2301.1 crore for the quarter ended June 30, 2016.

Sobha zoomed 3.7% to Rs.334.65 after the real estate company said it had bought back 17.59 lakh shares of the company from existing shareholders for Rs.58 crore.

PNC Infratech gained 1.5% to Rs.565. The company bagged a project worth Rs.232.91 crore for four-laning of a road in Uttar Pradesh.

USDINR trade today trading up six paise at 67.29 per US dollar.

Out of 1,472 stocks traded on the NSE, 994 declined and 433 advanced today.

Top 5 Nifty Gainers: ICICI Bank (3.78%), Maruti Suzuki (2.74%), BHEL (2.07%), HDFC (1.99%) and SBI (1.81%).

Top 5 Nifty Losers: Dr. Reddys Lab (-8.81%), Tata Steel (-0.72%), Bajaj Auto (-0.57%), Lupin Ltd (-0.43%) and Axis Bank (-0.12%)

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