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Friday 13 February 2015

Sensex reclaims 29000, Bank Nifty surges; auto & pharma up

1:50 pm ITC shopping: FMCG major ITC has entered into an agreement with Johnson & Johnson to acquire its brands, 'Savlon' and 'Shower To Shower', in India. This acquisition will be ITC's first purchase in the personal care segment. "The company entered into asset purchase agreements with Johnson & Johnson Ltd, India & Johnson & Johnson Pte Ltd, Singapore yesterday for purchase of 'Savlon' and 'Shower To Shower' trademarks and other intellectual property, respectively, primarily for use in India," ITC said in a BSE filing.

Savlon is an antiseptic brand while Shower To Shower is a personal care product brand. These agreements are subject to customary closing conditions and regulatory permissions as may be necessary, it added. During the third quarter ended December 2014, ITC reported 10.47 per cent rise in net profit at Rs 2,635 crore as against a net profit of Rs 2,385.34 crore in corresponding quarter a year earlier.

1:30 pm Result poll: M&M will announce its third quarter earnings on Friday. Consolidated net profit is expected to decline 39 percent year-on-year to Rs 615 crore, according to a poll. Consolidated numbers include Mahindra Vehicle Manufactures numbers as well. Total income of the utility vehicle maker is seen falling 13 percent to Rs 8,900 crore during October-December quarter from Rs 10,241.6 crore in same quarter last year, dented by lower sales volumes.

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The market continues to surge as the Sensex is up 207.54 points at 29012.64. The Nifty is up 67.75 points at 8779.30.  About 1391 shares have advanced, 1209 shares declined, and 200 shares are unchanged. 

SBI, M&M, TCS, Sun Pharma and Wipro are top gainers in the Sensex. Among the losers are BHEL, GAIL, ONGC, HDFC Bank and Infosys.

Japan's Nikkei share average fell on Friday, retreating from a 7.5-year closing high the previous day as investors took profits from gainers such as Fanuc Corp, but buying in cyclical stocks exposed to consumer demand limited the losses.

A ceasefire agreement between Russia and Ukraine also eased tensions in the market. The Nikkei shed 0.4 percent to 17,913.36, retreating from 17,979.72 marked on Thursday, the highest closing level since July 2007. For the week, the Nikkei gained 1.5 percent. More information please visit this site www.bigprofitbuzz.com

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