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Tuesday, 14 October 2014

Choppy Sensex, Nifty close lower; DLF tanks 28%, BHEL up 4%


03:30pm Market Closing
 
Equity benchmarks closed marginally lower amid consolidation on Tuesday ahead of two state elections (Maharashtra and Haryana) tomorrow. The Sensex fell 34.74 points to close at 26349.33 and the Nifty declined 20.25 points to 7864.

 About 1301 shares have advanced, 1622 shares declined, and 109 shares are unchanged.

 DLF tanked 28.56 percent post Sebi order. BPCL, Cairn India, HCL Technologies, Tata Motors, HDFC, ONGC, Sesa Sterlite and HDFC Bank were down 1-2 percent.

 However, BHEL, Axis Bank, Bajaj Auto, Tata Power, SBI and IndusInd Bank topped the buying list, up 2-4 percent. 

03:15pm Symphony Q1 earnings
 
Air coolers maker Symphony surpassed street expectations on every parameter with the first quarter (July-September) standalone net profit rising 51 percent to Rs 21.6 crore on the back of strong growth in revenue and operational income. Profit in the year-ago period was Rs 14.3 crore. 

According to CNBC-TV18 poll estimates, analysts had expected the company to report profit of Rs 18 crore on revenue of Rs 96 crore for the quarter. 

Net sales grew 42.5 percent to Rs 102.7 crore in the quarter ended September 2014 compared to Rs 72.1 crore in same quarter last year. 

Operating profit or EBITDA climbed 71.4 percent on yearly basis to Rs 23.8 crore and margin expanded by 390 basis points to 23.2 percent during the quarter, which were expected at Rs 19.9 crore and 20.7 percent, respectively.

 02:58pm Brent Crude check

 Brent crude fell to just above USD 88 a barrel in a well-supplied market as expectations faded that OPEC could cut output in an effort to shore up prices. 

The global oil benchmark has declined more than 20 percent from the 2014 high in June as supplies rose and demand slowed in the United States, Europe and China. 

Investors expecting a production cut from OPEC to support prices were disappointed as Saudi Arabia and Kuwait played down the possibility of the Organization of the Petroleum Exporting Countries reducing output. 

OPEC, which produces about 40 percent of the world's crude oil, is due to meet in late November to discuss output targets, reports Reuters. More information please visit this site www.bigprofitbuzz.com

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