Nifty hovers around 8250; IT & pharma gain, metals down

10:40am Rohit Ferro Tech shares in demand

"The board of directors of the company on Monday approved the proposal to sell, transfer or otherwise dispose of the Jaipur manufacturing unit of the company located at Kalinganagar industrial Complex, District: Jajpur, Orissa as going concern by way of slump sale or otherwise, subject to the such approvals and permission as may be required for such sale," said the company in its filing to the exchange.

Rohit Patni, managing director and Suresh Kumar Patni, director of the company has been authorized to negotiate the proposed deal with the prospective acceptable purchasers.

10:20am Market Expert

Sanjeev Prasad, Kotak Institutional Equities says the Street has largely focused on economic reforms, pace of economy recovery linked to economic reforms and decline in interest rates as the most important drivers for the Indian market for 2015.

“We broadly agree with the drivers and our Model Portfolio largely reflects the same. Our large positions in banks and automobiles reflect our positive views on economic recovery and lower interest rates,” he adds.

“We have taken the opportunity to remove Idea Cellular from the portfolio and add 100 basis points each to Infosys and Tech Mahindra. We have also removed GAIL from the Model Portfolio and allocated the 200 basis points weight to Reliance Industries,” says Prasad.

10:00am Market Check

Equity benchmarks remained in a consolidation mode due to lack of volumes at institutional desk. The Sensex rose 3.28 points to 27399.01 and the Nifty advanced 1.65 points to 8247.95. Technology and healthcare stocks gained while metals, oil & gas and select banks stocks were under pressure.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 0.5 percent each. About 1018 shares have advanced, 686 shares declined, and 57 shares are unchanged on the Bombay Stock Exchange.

Larsen and Toubro gained 1 percent as the government approved ordinance to amend the Land Acquisition Act to remove barriers in a range of sectors like power, housing, defense to kick start stalled projects, there by making the procedure to acquire land faster. Subsidiary L&T Construction bagged orders worth Rs 2,521 crore in December.

Container Corporation is expected to be a big beneficiary of Land Acquisition Amendment, as the implementation of Dedicated Freight Corridor/Industrial Corridor would get a boost. Company is planning to develop several multimodal logistics parks/private freight terminals (PFT) across India and along the DFC. The stock gained 0.6 percent.

Tata Steel fell 0.6 percent as reports suggest that the company has warned of a hit to its profitability in the third quarter of the current fiscal year because of the closure of its captive iron-ore mines in Jharkhand and Odisha, which forced the company to operate below capacity for more than a month during the quarter.

Jindal Stainless climbed 3.6 percent as company will demerge business into three verticals namely ferro-alloys, coke oven & stainless steel businesses via slump sale route. Shareholders of Jindal Stainless will get shares by the resulting de-merged company, Jindal Stainless (Hisar), under the ratio of 1:1.

IDBI Bank surged 2 percent. The bank told that the timing seems right to monetise stake in CARE, and will look to monetise a part of or whole stake in CARE. The bank believes it could receive between Rs 600-700 crore for entire shareholding at current market price. It also indicated it is looking to sell stake in NSE at right price with right buyer.

Blue Star jumped 3 percent as the company forayed into in-built water purifier segment by collaborating with Eureka forbes. Rohit Ferro-Tech surged 19 percent as the board approved proposal to sell, transfer Jaipur manufacturing unit. More information please visit this site www.bigprofitbuzz.com

Nifty ends below 8250, Sensex up 154 pts; banks in red

3:30 Market close: The market ended on higher note. The Sensex closed up 153.95 points or 0.6 percent at 27395.73, and the Nifty was up 45.60 points at 8246.30. About 1616 shares have advanced, 1312 shares declined, and 117 shares are unchanged.

Metal stocks ruled the roost with Sesa Sterlite, Hindalco and Coal India gaining 2-4 percent each. Other gainers in the Sensex were Tata Motors and Hero Motocorp.

Bharti Airtel fell  over 1 percent while banks in red with some marginal loss. ICICI Bank and SBI were down 0.2-0.6 percent.

3:10 pm Market data: The level of investments in domestic shares through participatory notes (P-Notes) declined to Rs 2.5 lakh crore (USD 39 billion) in November after hitting nearly a 7-year high in the preceding month.

According to the data released by the Securities and Exchange Board of India (Sebi), the total value of P-Note investments in Indian markets (equity, debt and derivatives) dropped to Rs 2,49,210 crore last month from Rs 2,65,675 crore (USD 43 billion) in October.

Investment in October was the highest level since February 2008, when the cumulative value of such investments stood at Rs 3,22,743 crore.

2:50 pm Building muscles in 2015? Talwalkars Better Value Fitness Limited, popularly known as Talwalkars has set out an aggressive gym expansion plan for 2015 with its operations commencing by June.

Company CFO Anant Gawande is confident of beating their 20 percent profit growth guidance by 6-7 percent in the current fiscal backed by Q4 performance being stronger than Q3. In addition, he sees share of value added services advancing to 35 percent from 22-23 percent in 3-4 years.

Being country's largest chain of health clubs, the company is now set to rollout state of the art club, which is anticipated to generate revenues Q3FY16 onwards,

Meanwhile, its market share stands at 16 percent of organised market and capex stands at Rs 85 crore for FY15.

2:30 pm Buzzing: Metal stocks like Hindalco and Tata Steel are also up 2-3 percent with the index gaining 2.4 percent. The new found love for metal stocks is because the cabinet is likely to take up Land and Mining ordinances this week which may give Centre few discretionary powers over states.

The mining ordinance may give the Central government discretionary powers over states incase they take too long to renew or give licences for mining and introduce strong penalties in case of any wrongdoings. The mining ordinance is to do with amendments to MMRDA Act.

Kotak has upgraded Sesa Sterlite to buy from a reduce rating. The brokerage has set a target price of Rs 250 on the stock, stating that Sesa Sterlite is likely to gain most from the coal mining auctions.

 L&T up 1% on Rs 894 cr order; Morgan Stanley says need more

The market gives up some of its gains, but still holding firm. The Sensex is up 165.21 points at 27406.99 and the Nifty up 50.30 points at 8251. About 1682 shares have advanced, 1067 shares declined, and 119 shares are unchanged.

Sesa Sterlite is up 4 percent. Other gainers are Hindalco, Coal India, Tata Steel and Tata Motors. Axis Bank, M&M and ICICI Bank are in red.

As stock market authorities prepare a new framework for risk-based supervision of various

market entities, top exchanges BSE and NSE have extended the deadline for brokers to submit necessary details for putting in place this new model. The two exchanges had earlier asked their members to provide necessary details by December 24 for this risk-based supervision module. 

Meanwhile, the economy is expected to grow "much better" in 2015-16 as compared with the current financial year, Finance Minister Arun Jaitley said. The Indian economy grew by 5.3 percent in the September quarter from a year earlier, and is expected to grow 5.5 percent in the current financial year that ends on March 31. More information please visit this site www.bigprofitbuzz.com

Nifty hovers around 8250; Tata Motors & Coal India gainers

The market is maintaining its uptrend with support from metals and auto stocks. The Sensex is up 155.21 points or 0.6 percent at 27396.99 and the Nifty is up 44.45 points or 0.5 percent at 8245.15. About 1651 shares have advanced, 980 shares declined, and 103 shares are unchanged.

Sesa Sterlite, Hindalco, Tata Steel, Coal India and Tata Motors are top gainers in the Sensex while Axis Bank, SBI and M&M are in red.

Inflows of foreign direct investment into India rose by about 25 percent to USD 17.35 billion in the April-October period of the current fiscal, Commerce and Industry Minister Nirmala Sitharaman said.

Improvement in the macroeconomic situation and investor sentiment on account of a series of steps taken by the new government helped attract higher FDI, she said. In April-October 2013, the country had received USD 13.82 billion foreign inflows. More information please visit this site www.bigprofitbuzz.com

Sensex, Nifty strong; midcaps, smallcaps gain too

Equity benchmarks continued to see buying interest with the Sensex rising 183.65 points to 27425.43 and the Nifty climbing 55.40 points to 8256.10.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices gaining 0.8 percent. More than three shares advanced for every share declining on the Bombay Stock Exchange.

Sesa Sterlite topped the buying list, up 3 percent followed by Tata Motors, ONGC, Bharti Airtel, Hindalco Industries and GAIL with 1-2 percent gains. Tata Steel rose 1.4 percent after the steel maker started mining operations in 4 Odisha mines on December 15.

Engineering and construction major L&T advanced nearly a percent after its subsidiary L&T Hydrocarbon Engineering received order worth Rs 894 crore from ONGC.

In the broader space, RPP Infra gained more than 3 percent on bagging Rs 48 crore order from TN Water Supply & Drainage Board. More information please visit this site www.bigprofitbuzz.com

Nifty ends at 8201; TCS & HDFC gainers, Maruti falls 1%

03:30 pm Market closing

After a sluggish day, the market ended on a flat note. The Sensex ended up 33.17 points at 27241.78 and the Nifty was up 26.60 points at 8200.70. About 1406 shares have advanced, 1427 shares declined, and 126 shares are unchanged.

TCS, HDFC, L&T, Hindalco and Sun Pharma are top gainers in the Sensex. The top losers are Maruti, BHEL, ITC, HUL and Cipla.

03:00pm Market Update

The Sensex fell 39.51 points to 27169.10 while the Nifty rose 1.80 points to 8175.90. The market breadth was negative as declining shares outnumbered advancing ones by a ratio of 1401 to 1294 on the Bombay Stock Exchange.

Gujarat Gas, Reliance Capital, State Bank of India, Union Bank of India, Bank of India and Tata Steel were most active shares on exchanges.

02:45pm Interview

RB Kabra, President, HSIL said the company has plans to pare its long-term debt by raising capital worth Rs 250 crore. The current debt for the company including the working capital stands at Rs 950 crore, out of which Rs 550 crore is long-term debt and Rs 400 crore is working capital debt.

The company plans to raise capital in the next few weeks, said Kabra.

The company has also scaled down the overall revenue growth outlook from 20 percent to 15 percent. The lower growth forecast was on back of a drop in a business category which they have now exited, said Kabra. The building products business would grow at around 16-18 percent but the packaging product would continue to do well this year.

Talking about the market share he said, with the total ceramic sanitary ware market being divided in to two parts, organised and unorganised, the company per se has 40 percent market share out of the overall 60 percent organised market.

Meanwhile, Kabra said the company will continue its focus on premium products because customers nowadays prefer aesthetically better looking products.

02:25pm Nikkei update

Japanese stocks ticked up today, with sentiment buoyed by bullish expectations for 2015 helping to overcome slight losses from profit-taking in the morning session.

The Nikkei benchmark closed up 0.1 percent at 17,818.96 in quiet trade. The average added 1.1 percent over the holiday-shortened week, which saw the thinnest trade volume since May.

Market heavyweight Fanuc Corp added 0.4 percent, accounting for a third of the Nikkei's overall gains.

The broader Topix gained 0.4 percent to 1,427.50, while the JPX-Nikkei Index 400 gained 0.3 percent to 12,693.12, reports Reuters.

02:00pm Market Check

Equity benchmarks continued to be rangebound with the Sensex falling 53.04 points to 27155.57 and the Nifty losing 2.70 points to 8171.40. About 1231 shares have advanced, 1369 shares declined, and 132 shares are unchanged.

The volumes were abysmal today with cash market volumes at less than Rs 6,000 crore.

UR Bhatt of Dalton Capital expects the Nifty to be in the range of 7900-8300 till the Budget and public sector banks could be the big gainers of 2015.

In the largecap space, ITC, Zee Entertainment, ICICI Bank, Grasim, Maruti Suzuki, Tata Motors and BHEL fell 0.9-1.3 percent whereas Jindal Steel and DLF topped the buying list on Nifty, up 2.5-3 percent. HCL Technologies, Hindalco, Tech Mahindra, Sesa Sterlite, Infosys, HDFC and TCS gained 0.6-1.6 percent.

The rupee continued to slip on month end dollar demand, trading at 63.65 to the dollar versus a close of 63.51 on Wednesday. Dollar inflows are likely to pick up only next week.

In important news in the telecom space today, Bharti Airtel decided to charge higher tarriff for voice over internet protocol (VOIP), said it would charge VOIP players 16 times the rate of normal data pack charges. Telecom minister Ravi Shankar Prasad said the government will look into it and come back with a structured response. More information please visit this site www.bigprofitbuzz.com