Market Wrap-up (28th October 2015):
Markets end on weak note; Cautious ahead of FOMC meet :
Benchmark Indices opened lower and moved in a narrow range for the whole session and closed lower as investors seemed to be cautious ahead of the two day FOMC meet and F&O expiry ahead. If nifty closes below 8200, then more slugs can be seen while crucial resistance is still seen around 8300.
HEADLINES FOR THE DAY:
- Initial Public Offer of Indigo raised Rs 832 cr from investors on its opening day.
- DEN Networks jumped in otherwise markets after RBI raised the FII limit to rise to 74% in the company.
- Reliance Industries signed the revised listing agreement with BSE as per new Listing Regulation by SEBI and became the first corporate to do such agreement.
- Nestle India resumed manufacturing of Maggi at three of its plants, at Nanjangud in Karnataka, Moga in Punjab and Bicholim in Goa.
- NIIT Technologies hiked more than 5% as it entered into a long term strategic agreement with Flydubai, Dubai-based airline.
- Crompton Greaves reported that the company is selling its power systems business in Canada to PTI Holdings Corporation for an enterprise value of CAD 20 min subject to post-closing adjustments.
- Yes Bank has operationalized its IFSC Banking Unit (IBU) in the Gujarat International Finance Tec City (GIFT).
Q2 RESULTS CORNER:
- Maruti Suzuki reported shining results as net profit jumped 42% to Rs 1,225.56 cr v/s Rs 862.54 Cr (YoY); Net Sales rose by 13%.
- Axis Bank Q2 earnings rose 19% to Rs 1,915.6 Cr (YoY); Net interest income grew by 15.2%, while gross NPA increased 4.7% (QoQ) and 23.2% (YoY).
- Lupin posted disappointing Q2 as its net profit declined by 35% (YoY) although Revenue increased 4.7%.
- Alembic Pharmaceuticals ( APLLTD) ends lower despite of increased profit as net PAT increased to Rs. 772.70 mn vs Rs. 2889.00 mn (YoY) .
- Himachal Futuristic Communications Limited (HFCL) ended lower despite of rise in company’s PAT by 4%.
- Mahindra Holidays Ltd (MHRIL) Q2 net profit stands at Rs. 28.9 crore and total income for the quarter is at Rs.233 cr.
- Strides Arcolab Ltd (STAR) Q2 net profit after taxes at Rs. 189.795 mn v/s Rs. 7978.290 mn (YoY) while Total Income increased to Rs3905.917 mn from Rs. 2973.239 mn.
- Shasun Pharma Ltd Q2 net profit at Rs. 13.1 crore; total income is at Rs.339.3 crore..
- TVS Motor Q2 cheered after the company announced Q2 net profit increased by 23% (YoY).
- Dish TV ends in red despite its Q2 net profit for the quarter is at Rs. 86.9 cr and Consolidated total income were at Rs. 752.4 crore.
- State Bank Of Mysore saw an uprise as its Q2 net profit up by 2% at Rs 132 cr and gross NPA was at 4.19%.
- Sterlite Technologies slips as the company reported net loss for the quarter stands at Rs. 15.5 crore.
- Inox Wind jumps around 4% as its consolidated net profit raised by 63.48% to Rs. 89.13 cr vs Rs. 54.52 cr (YoY).
NEWS WHICH LED STOCKS ENDS IN GREEN ZONE:
- Spicejet up on after company reveals the exciting discount sale offers for domestic as well as international flights.
- Cosmo Films surged around 17% on high volumes, current market cap of the company is Rs. 421.85 cr.
- Shares of Gujarat Apollo Industries surged by more than 3% after the company’s board decided to consider a share buyback proposal on its Q2 earnings on Nov 5.
NEWS WHICH LED STOCK ENDS IN RED ZONE:
- Coal India marginally lower on delay in disinvestment as the Department of Disinvestment has put off the appointment of merchant bankers for CIL stake sale yet again.
Results on 27TH October 2015:
- AMBUJA CEMENT, DABUR INDIA, EXIDE INDUSTRIES, GREENPLY INDUSTRIES, JK TYRE, JSWENERGY, JETAIRWAYS, JUSTDIAL, KEC INTERNATIONAL, MCX INDIA, PIDILITE, RAYMOND, SUNTV, SYNDICATE BANK, TATA ELXSI, TORRENT POWER are coming up with its Q2 (Quarter 2) results on 28TH October, Wednesday.