03:30 pm Market closing
It is a day of breaking records. The benchmark indices have ended at record
high levels once agian. The Sensex was up 98.84 points at 28008.90 and the
Nifty was up 20.65 points at 8383.30. About 1517 shares advanced, 1528 shares
declined, and 105 shares were unchanged.
Banks and auto lend major support. Axis Bank was up 3 percent while Bajaj
Auto, Tata Motors, Hero and ITC were up 1-2 percent each.
Among the laggrads were Cipla, Tata Steel, NTPC and L&T.
02:55pm Interview
Shemaroo Entertainment has had a good first half this fiscal year. Its
H1 FY15 PAT rose 73 percent year-on-year, driven by the digital business
growth. Hiren Gada, whole-time director and CFO, Shemaroo Entertainment expects
to see margin improvement ahead with digital business improving ahead. He says
the company aims to do better in the second half of the fiscal year.
The company’s EBITDA margins have been in the range of 23-27 percent. Gada
says business on mobile platform has also been growing.
02:35pm Logistics stocks in demand
Transport Corporation, Gati, Snowman Logistics, Patel Integrated and
Allcargo Logistics rallied 3-12 percent.
02:25pm Adani Enterprises in focus
Gujarat-based Adani Enterprises turned profitable with second quarter
consolidated net at Rs 210 crore aided by strong operational performance. The
loss in the year-ago quarter was Rs 417 crore.
The company missed street expectations on topline and bottomline front but
beat estimates on operational front. Profit was expected at Rs 324 crore on
revenue of Rs 15,584 crore for the quarter.
Consolidated total income from operations grew by 3.4 percent to Rs 14,067
crore in the quarter ended September 2014 compared to Rs 13,602 crore in same
quarter last year.
Core operating profit (earnings before interest, tax, depreciation and
amortisation) surged 64.1 percent year-on-year to Rs 2,985 crore and margin
expanded 780 basis points to 21.2 percent in the quarter gone by, which both
were higher than analysts' expectations of Rs 2,755 crore and 17.7 percent,
respectively.
02:00pm Market Check
Equity benchmarks trimmed gains in afternoon trade with the Sensex climbing
104.93 points to 28014.99 and the Nifty rising 21 points to 8383.65 led by
banking & financial and auto stocks.
About 1537 shares have advanced, 1392 shares declined, and 116 shares are
unchanged on the Bombay Stock Exchange.
Prolonging bullish tone of the market, Ravi Muthukrishnan, Co-head research,
ICICI Securities has a Nifty target of 9,200 in a year’s time. In addition, he
expects earnings to grow 16-18 percent in FY15-16.
With most earnings meeting street estimates, winter session of Parliament
coming in and anticipation of various reforms encircling the Budget, he sees
huge upside for the market hereon.
Rate sensitives like banks and autos indices touched record highs ahead of
the retail inflation data later today that is expected to be lower than in
September. A CNBC-TV18 poll expects the October CPI to drop to 5.63 percent
versus 6.46 percent in September on account of recovery in monsoon and sharp
fall in commodity prices.
Bajaj Hindusthan climbed over 5 percent after the company reduced its net
loss significantly to Rs 131 crore in July-September quarter from Rs 509.5
crore in same quarter previous fiscal led by lower expenses, cut in sugar
business loss, higher other income and strong profit in distillery business.
Oil India fell nearly 3 percent after reporting profit of Rs 608.3 crore on
revenue of Rs 2,081 crore for the quarter, which were lower than analysts'
expectations of Rs 850 crore and Rs 2,600 crore, respectively. More information
please visit this site www.bigprofitbuzz.com
No comments:
Post a Comment