Use this space to put some text. Update this text in HTML

www.bigprofitbuzz.com. Powered by Blogger.
There was an error in this gadget

Thursday, 16 October 2014

Sensex, Nifty rangebound; banks & FMCG gain, metals slip

12:35pm Europe rebounds
 
European markets like France's CAC, Germany's DAX and Britain's FTSE gained around a percent in early trade. 

12:30pm Interview
 
Two-wheeler maker Bajaj Auto eyes very strong exports for October and November. According to MD Rajiv Bajaj, in terms of sustainability, everything looks good right now. 

“October looks good in terms of what we are shipping out, orders of November look promising. But in the last quarter everything just went right whether it was Sri Lanka, Bangladesh, Egypt, Nigeria, Colombia, all these markets one or two of which always played truant,” he adds. 

The company aims to recover its market share by June with the EBITDA margins maintained at 20 percent.
The overseas business of the company did well in Q2. Speaking to CNBC-TV18 post Q2 earnings, Bajaj says the company has entered Ghana and Argentina in recent months. 

Bajaj Auto has planned two new launches over the next four months. The company expects its Pulsar to clock 60,000-65,000 units per month going ahead. 

12:00pm Market Check

 Equity benchmarks were not showing any sign of major move on either side. The Sensex fell 9.80 points to 26339.53 and the Nifty declined 9.05 points to 7854.95. Banking and financials, and FMCG stocks saw buying interest while metals, capital goods and power stocks were under pressure. 

The market breadth was negative. About 1053 shares have advanced while 1417 shares declined on the Bombay Stock Exchange. 

Shane Lee, Director, Economist & Strategist - Equity Research, CIMB is neutral on India. However, he adds that the Indian market has held up rather well. But he is waiting to see how things play out. 

Shares of Hindustan Unilever, Gail, ITC, Tata Motors, Axis Bank, BPCL and NMDC climbed 1-4 percent whereas Hindalco Industries, Sesa Sterlite, Mahindra and Mahindra, Tata Power, Reliance Industries, UltraTech Cement and Cairn India slipped 1-4 percent.

In key earnings today, second quarter is expected to be a strong for TCS and Hero Motocorp. Dollar revenue of TCS may see a 7.3 percent sequential growth to USD 3,965 million with marginal improvement in margins while Hero may report a 43 percent growth in profit Y-o-Y. 

In the midcap space, Cyient, Tilak Finance, Emami, DB Corp and Religare Enterprises gained 4-7 percent while Strides Arcolab, GSFC, Amtek Auto, Den Networks and Persistent Systems lost 5-16 percent. More information please visit this site www.bigprofitbuzz.com





No comments:

Post a Comment