03:30pm
Market Closing
The Sensex rose 109.19 points or
0.42 percent to close at 26108.53 and the Nifty climbed 32.40 points or 0.42
percent to 7780.60.
About 1336 shares have advanced, 1501 shares
declined, and 117 shares are unchanged.
02:55pm
Crompton in focus
Avantha Group-owned Crompton Greaves is likely
to sell part stake in its demerged consumer products business, sources told
CNBC-TV18.
Crompton Greaves on Thursday had
announced the demerger of its consumer products business unit into a separate
company and also opened doors for foreign investors by raising the investment
limit to 100 percent of the paid-up equity share capital.
According to sources, the group may
sell up to 10 percent stake in the demerged consumer products entity to private
equity players, with valuations standing at around Rs 8000 crore. So far, Bain
has emerged as the only serious PE player in talks to acquire stake.
02:40pm
Zee Entertainment rallies
The Sensex gained more than 200 points in last
hour of trade while Zee Entertainment climbed nearly 4 percent.
Zee slightly missed street
expectations on topline and bottomline front but operational performance was
higher than expectations during July-September quarter. Consolidated net profit
fell 3.7 percent to Rs 227.6 crore in second quarter of current financial year
2014-15 due to lower subscription revenue and sports division losses. Profit in
the year-ago period was Rs 236.3 crore.
Net profit was expected at Rs 235
crore on revenue of Rs 1,160 crore for the quarter, according to the average of
estimates of analysts polled by CNBC-TV18.
Consolidated total income from
operations increased marginally to Rs 1,118 crore from Rs 1,101 crore on
year-on-year basis. Advertising revenue in Q2 increased 7 percent on yearly
basis to Rs 625.94 crore while subscription revenue declined over 7 percent to
Rs 424.45 crore from Rs 458.12 crore during the same period.
2:25pm
Market Check
The Sensex shot up 180.51 points or 0.69
percent to 26179.85 and the Nifty jumped 52.55 points or 0.68 percent to
7800.75.
About 1282 shares have advanced, 1390
shares declined, and 103 shares are unchanged.
02:20pm Top Gainers
Shares of HDFC Bank, Mahindra and
Mahindra and BHEL topped the buying list in the Sensex, up 3-4 percent followed
by ICICI Bank, HDFC, Larsen and Toubro, State Bank of India, Axis Bank, Bharti
Airtel, Hero Motocorp, Tata Steel and Cipla with 2-2.7 percent gains.
Index heavyweights ITC and Reliance Industries
climbed nearly a percent.
02:00pm
Market Check
Equity benchmarks extended gains with the
Sensex rising 166.02 points to 26165.36 and the Nifty climbing 48.90 points to
7797.10. The broader markets gained too; the CNX Midcap advanced 0.8 percent.
Banks stocks drove the major gains
in benchmarks with BSE Bankex rising over 2 percent while technology stocks
pulled the BSE IT index down by 3.5 percent.
Sunil Singhania of Reliance MF says
he expects growth to return to the Indian markets. He is looking at a 20
percent earnings growth over the next five years and valuation wise, India is
not as expensive as other emerging markets.
It’s a twin blow for the tech
sector. TCS tanked more than 7 percent after dollar revenue growth missed
expectations. Management told cnbc-tv18 that softness in certain businesses may
continue for two more quarters. HCL Technologies too took a hard knock on
similar growth worries; dollar revenue for Q1 came in lower than estimate; the
stock lost 9 percent.
The rupee recovered marginally to
61.53 after falling to 7-month low of 61.83 yesterday. Fresh selling of dollars
by exporters and banks resulted in rupee recovery.
It is a mixed day for global
markets. European markets gained more than 1 percent while Asian markets like
Japan and Taiwan Weighted fell another 1-1.5 percent after yesterday's blow. A
comment from hawkish Federal Reserve official James Bullard on Thursday that
the Fed should continue bond buying lifted sentiment and surprised many
observers. More information please visit this site www.bigprofitbuzz.com
No comments:
Post a Comment