10:30am FII View
Bhuvnesh
Singh, Barclays says the Q2FY15 earnings season is off to a positive start as
13 BSE-100 companies have reported so far and 54 percent registered 'beats' on
earnings consensus estimates.
“FY15 EPS
growth rate estimate for BSE-100 has steadied at 16.8 percent, up 40 basis
points since the end of the last earning season. This compares with 8.6 percent
EPS growth in FY14 and 2.8 percent in FY13,” he adds.
“We
reiterate our long-term view that positive earnings momentum is required to
sustain the returns of Indian equities,” says Singh.
10:00am Market Check
Equity benchmarks
extended gains with the Sensex rising 173.90 points to 26603.75 and the Nifty
jumping 49.40 points to 7928.80 supported by banks, capital goods, metals and
telecom stocks.
More than
two shares advanced for every share declining on the Bombay Stock Exchange. The
broader markets advanced too with the BSE Midcap and Smallcap indices rising 1
percent and 0.8 percent, respectively.
Jindal
Steel and Gail India topped the buying list, gaining 5-5.5 percent followed by
NTPC, Hindalco Industries, BHEL and Sesa Sterlite with 2-3 percent upmove.
ICICI Bank, HDFC Bank, Tata Motors, Larsen and
Toubro, State Bank of India, Axis Bank, Bharti Airtel, Wipro and Tata Steel
jumped 1-1.7 percent. However, ONGC and Coal India were top losers, falling
over a percent followed by ITC with 0.7 percent loss.
PNB gained nearly 2 percent ahead of its
results. CNBC-TV18 poll expects a 10 percent NII growth at Rs 4,421 crore and a
142 percent jump in profits to Rs 1,224 crore.
BGR Energy
surged 4 percent on the back of an order win of Rs 250 crore. Order is for the
electrical sub stations segment of the electrical projects division.
Shriram
Transport Finance fell 2.5 percent after Q2 profit declined 7.5 percent on the
back of a rise in provisions. NII growth was steady at 12 percent.
Punjab
Communications surged 5.5 percent as the Punjab government through a cabinet
committee on disinvestment has decided to liquidate all assets of the company.
The government holds 71.2 percent stake in the company. More information please
visit this site www.bigprofitbuzz.com
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