INDIAN EQUITY MARKET -25 FEB

INDIAN BENCHMARK upbeat to begin with. Tata Power's board will deliberate on various fund raising options, including by way of preferential issue of shares to institutional investors, on February 27.

FURTHER, Ranbaxy Labs will be in focus after Japanese drugmaker Daiichi Sankyo Co Ltd said that its Indian unit Ranbaxy Laboratories Ltd has suspended shipment of pharmaceutical ingredients produced at its Toansa and Dewas plants. JP Associates may be in action on reports of stake sale of cement plants.

Trend in FII flows: The FIIs were net buyers of Rs.266cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 248cr, as per the provisional figures released by the NSE.

INDIAN EQUITY MARKET -21 FEB

INDIAN BENCHMARK rebounded tracking their Asian peers and overnight gains on Wall Street with banks and IT majors lifting the Nifty above 6,100 levels in early trades. Power Finance Corp and Rural Electrification Corp have disbursed transitional loans worth Rs337bn to state-owned power distribution companies.

FURTHER, Jindal Steel and Power Ltd announced the launch of its new retail brand Jindal Panther TMT rebars, signifying the company’s foray into the retail product segment. Bharti Airtel will move the Supreme Court of Nigeria against a judgement, dated 14 February, of the Court of Appeal, Lagos that ruled in favour of Econet Wireless of Nigeria.

Trend in FII flows: The FIIs were net buyers of Rs.206cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 600cr, as per the provisional figures released by the NSE.

INDIAN EQUITY MARKET -20 FEB

INDIAN BENCHMARK opened lower as most Asian markets slipped due to disappointing provisional Chinese PMI data. Apollo Hospitals Ltd has lined up an investment of Rs20bn in the next 2-3 years for adding 2000 new beds.

FURTHER, Reliance Industries is in talks with four or five export credit agencies (ECA) to raise over $1 bn (Rs 6,220 crore) in the next four month. NTPC laid the foundation stone for a 1,600-MW power plant in Madhya Pradesh, plans to set up two more projects in the state.

Trend in FII flows: The FIIs were net buyers of Rs.468cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 338cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET -19 FEB

INDIAN BENCHMARK open flat amid mixed Asian cues but profit taking is likely to cap further gains after the rally yesterday which pushed the benchmark indices to 3-week closing highs. Canara Bank plans to sell Rs10bn worth of non-performing assets by the end of this financial year.

FURTHER, Ashok Leyland may see some action after the company is considering sale of its Chennai property to trim its debt. Power Grid Corp plans to invest more than Rs610bn in the next three financial years, with a significant chunk of funds to be raised by way of bonds and debentures.

Trend in FII flows: The FIIs were net buyers of Rs.292cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 154cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET -17 FEB

INDIAN BENCHMARK have started the trading session on a higher note ahead of interim budget. Bharti Airtel is set to buy Loop Mobile for about Rs7bn. Under the deal, besides subscribers, Bharti will take over the towers and other network assets of Loop.

FURTHER, HDIL has posted a net profit after taxes, minority interest and share of profit / (loss) of associates of Rs. 51 mn for the Quarter ended December 31, 2013 whereas the same was at Rs. 1073.50 mn for the Quarter ended December 31, 2012. Biocon and US generic drug maker Mylan have challenged Delhi High Court’s interim order which barred them from using Swiss drug innovator Roche’s data to sell their jointly developed biosimilar version of breast cancer drug Trastuzumab.

Trend in FII flows: The FIIs were net sellers of Rs.15cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 45cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET

INDIAN BENCHMARK opened higher tracking mixed global cues, after breaking its three-day winning streak yesterday. Telecom companies will remain in focus. Sun Pharmaceutical Industries Ltd announced that the US FDA has granted its subsidiary final approval for its Abbreviated New Drug Application to market a generic version of Temodar, Temozolomide Capsules, 5 mg, 20 mg, 100 mg, 140 mg, 180 mg and 250 mg

FURTHER, Indian Oil Corporation Ltd has posted a net loss of Rs. 9614.50 mn for the quarter ended December 31, 2013 as compared to net profit of Rs. 33319.60 million for the quarter ended December 31, 2012. Bharti Airtel acquired 115 MHz of airwaves in 15 circles in the 1800 MHz band and three circles in the 900 MHz bands for a total of Rs185.3bn.

Trend in FII flows: The FIIs were net buyers of Rs.399cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 292cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET -13 feb

INDIAN BENCHMARK continued their upward trend, opening with modest gains. The index of industrial production for December 2013 came in at a negative 0.6 percent, while consumer price inflation stood for January at 8.79 percent, a two-year low, versus 9.87 percent in the previous month.

FURTHER, Coal India Ltd has 11.4 per cent drop in consolidated net profit at Rs 3,894 crore for the financial year's third quarter (October-December) versus Rs 4,395 crore in the corresponding period last year. Cipla  consolidated revenues were up 22 per cent year-on-year to Rs 2,581 crore in the financial year’s third quarter, on the back of a strong exports performance, higher costs dented profitability, leading to a 16.5 per cent fall in net profit to Rs 284 crore.

Trend in FII flows: The FIIs were net buyers of Rs.211cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 261cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET -12 january

INDIAN BENCHMARK started the trading session on a higher note amid a rally in global markets, following the US Federal Reserve policy stance to continue trimming its monetary stimulus measures.

FURTHER, Tata Steel consolidated net sales of Rs 36,410 crore in the December quarter, up 14 per cent from the corresponding period last year, led by 5.6 per cent growth in deliveries. GMR Infrastructure Ltd has posted a net loss after tax and Minority Interest of Rs. (4410.90) mn for the quarter ended December 31, 2013 as compared to net loss of Rs. (2174.50) mn for the quarter ended December 31, 2012. 

Trend in FII flows: The FIIs were net sellers of Rs.165cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net buyers of Rs. 242cr, as per the provisional figures released by the NSE.

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INDIAN EQUITY MARKET WRAP UP-11 january

INDIAN BENCHMARKS end flat ahead of key economic data

INDIAN BENCHMARKS  ended flat with a positive bias, amid a range bound trade as investors remained cautious ahead of key economic data due for release tomorrow and to new Federal Reserve Chair Janet Yellen's first testimony before lawmakers. AstraZeneca Pharma India surged 16% to Rs 854 after reporting a net profit of Rs 1.52 crore for the quarter ended December 31, 2013.

Further, Dr Reddy's Laboratories third quarter profit growing over 70 percent compared to same quarter last year.  Consolidated net profit increased to Rs 618.53 crore from Rs 363.3 crore. Shares of Bharat Forge were up 5% at Rs 367.55 as the company after market hours on announced plans to merge two of its subsidiaries.

The crucial resistance for Nifty is now seen at 6100 and above this 6170. Support for the immediate term is now placed at 6030 and next support will be 5965.

News to watch:

·         Watch out for the quarterly earnings of Apollo Tyres, BPCL, Cipla, Coal India, Tata Comm.  on 12^th Feb.

·         Watch out for the Consumer Price Index (CPI) & Indian Industrial Production (IIP) on 12th Feb.

·         Watch out for the Wholesale Price Index (WPI) on 14th Feb.

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