Use this space to put some text. Update this text in HTML Powered by Blogger.
There was an error in this gadget

Friday, 7 November 2014

Sensex, Nifty end flat; HDFC Bank, Hero major laggards

03:30 pm Market closing

The market has ended flat. The Sensex is down 47.25 points at 27868.63 and the Nifty is down 1.30 points at 8337.00.  About 1445 shares have advanced, 1562 shares declined, and 103 shares are unchanged.

Dr Reddy's Labs,  Axis Bank, Sun Pharma, HUL and ONGC were top gainers in the Sensex. Among the losers were BHEL, GAIL, Hero Moto, Sesa Sterlite and HDFC Bank.

03:10 pm Results

Public sector lender UCO Bank's second quarter net profit fell 74 percent year-on-year to Rs 103.5 crore dented by higher provisions and lower net interest income but was supported by higher other income. Profit was Rs 400.2 crore in the year-ago period.

Net interest income (NII - the difference between interest earned and interest expended) declined 11.9 percent to Rs 1,383 crore in the quarter ended September 2014 compared to Rs 1,570 crore in same quarter last year. However, other income (non-interest income) climbed 71.6 percent year-on-year to Rs 358.97 crore in the quarter gone by.

Provisions and contingencies jumped 23.3 percent Y-o-Y (up 80.9 percent sequentially) to Rs 935.3 crore in the second quarter of current financial year 2014-15.

Asset quality deteriorated sequentially. Gross non-performing assets (NPA) declined 12 basis points on yearly basis (up 89 bps quarter-on-quarter) to 5.20 percent while net NPA rose 2 bps year-on-year (up 82 bps quarter-on-quarter) to 3.15 percent during the quarter.

02:50pm Chambal Fertilisers hits 52-week high

Chambal Fertilisers and Chemicals beat street expectations on all parameter except textile business. Net profit in July-September quarter climbed 22 percent year-on-year to Rs 115 crore on strong operational performance. Profit in the year-ago period was Rs 94 crore.

Profit was expected at Rs 95 crore on revenue of Rs 2,400 crore for the quarter, according to the average of estimates of analysts polled by CNBC-TV18.

Net sales rose by 1 percent to Rs 2,507 crore in the quarter ended September 2014 compared to Rs 2,489 crore in same quarter last year.

Operating profit grew by 28 percent year-on-year to Rs 247 crore and margin expanded by 220 basis points to 10 percent during the quarter, which both were higher than analysts' estimates of Rs 203 crore and 8.5 percent, respectively.

The stock hit 52-week high of Rs 70 on the BSE, up by Rs 5 compared to Wednesday's close.

02:30pm Gold Update

Gold tumbled to a fresh 4-1/2 year low and looked set to post its third straight weekly drop on Friday, as the US dollar rallied on economic optimism and expectations the Federal Reserve could raise rates sooner rather than later.

A robust US nonfarm payrolls report later in the day could provide more evidence of a strengthening economy, influencing the Fed and possibly hurting gold, a non-interest-bearing asset. More information please visit this site

No comments:

Post a Comment