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Volumes jump at Abbott India counter
Sep 08,2016

Abbott India clocked volume of 1.07 lakh shares by 12:46 IST on BSE, a 210.01-times surge over two-week average daily volume of 1,000 shares. The stock rose 0.70% to Rs 4,613.85.

Patel Engineering notched up volume of 30.51 lakh shares, a 14.75-fold surge over two-week average daily volume of 2.07 lakh shares. The stock rose 9.93% to Rs 93.55.

Bannari Amman Sugars saw volume of 51,000 shares, a 10.42-fold surge over two-week average daily volume of 5,000 shares. The stock rose 0.43% to Rs 1,960.

Federal-Mogul Goetze (India) clocked volume of 1.03 lakh shares, a 10.29-fold surge over two-week average daily volume of 10,000 shares. The stock fell 5.66% to Rs 503.85.

Jammu & Kashmir Bank saw volume of 19.19 lakh shares, a 9.83-fold rise over two-week average daily volume of 1.95 lakh shares. The stock rose 11.03% to Rs 79.05.

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Bhel slips on profit booking
Sep 08,2016

Meanwhile, the S&P BSE Sensex was up 44.85 points or 0.16% at 28,971.21.

On BSE, so far 19.57 lakh shares were traded in the counter as against average daily volume of 9.23 lakh shares in the past one quarter. The stock hit a high of Rs 159 and a low of Rs 153.55 so far during the day. The stock had hit a 52-week low of Rs 90.40 on 29 February 2016. The stock had hit a 52-week high of Rs 219.70 on 27 October 2015. The stock had outperformed the market over the past one month till 7 September 2016, surging 16.01% compared with 3.02% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rallying 34% as against Sensexs 7.1% rise.

The large-cap company has equity capital of Rs 489.52 crore. Face value per share is Rs 2.

Shares of Bharat Heavy Electricals (Bhel) had rallied 15.5% to settle at Rs 159.80 yesterday, 7 September 2016, after the company announced strong Q1 June 2016 results during market hours. The companys net profit jumped 54.2% to Rs 77.77 crore on 29% growth in net sales to Rs 5522.76 crore in Q1 June 2016 over Q1 June 2015.

In a post-result conference call held yesterday, 7 September 2016, Bhel said that the companys sales growth in Q1 June 2016 is largely due to focus on expeditious execution of the orders on hand rather than any one off item.

Bhels order inflow in Q1 June 2016 stood at Rs 3223 crore with about Rs 2307 crore accounted by power sector and balance by industry and international. The companys order backlog stood at Rs 1.08 lakh crore as on 30 June 2016.

Of the Rs 50000 crore of order book branded as slow moving orders, three projects worth Rs 30000 crore are awaiting clearance and expect to commence work in next 3-4 months, Bhel said.

Bhel said that the financial closure for the Bangladesh Power project is expected to be achieved in October 2016 and post that the company will account the order of about Rs 10000 crore in its books of accounts.

State-run Bhel is an integrated power plant equipment manufacturer. It is one of the largest engineering and manufacturing companies in India engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a wide range of products and services for core sectors of the economy, viz. power, transmission, industry, railways, renewable energy, oil & gas, water and defence. The Government of India currently holds 63.06% stake in Bhel (as per the shareholding pattern as on 30 June 2016).

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Maruti Suzuki hits record high after brokerage maintains buy rating
Sep 08,2016

Meanwhile, the BSE Sensex was up 63.89 points, or 0.22%, to 28,990.25.

On BSE, so far 38,000 shares were traded in the counter, compared with average daily volume of 74,750 shares in the past one quarter. The stock hit a high of Rs 5,448.90 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 5,316.05 so far during the day. The stock hit a 52-week low of Rs 3,202.10 on 29 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, 7.44% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 28.04% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 151.04 crore. Face value per share is Rs 5.

The brokerage reportedly stated that potential for discounts on the companys vehicles will narrow sharply going ahead. The companys improved positive free cash flow outlook is positive for the stock, it reportedly said.

Maruti Suzuki Indias net profit rose 23% to Rs 1486.20 crore on 12.1% rise in net sales to Rs 14654.50 crore in Q1 June 2016 over Q1 June 2015.

Maruti is Indias biggest car maker in terms of market share. Japanese parent Suzuki Motor Corporation currently holds 56.21% stake in Maruti (as per the shareholding pattern as on 30 June 2016).

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Metal stocks gain on impressive Chinese trade data
Sep 08,2016

Tata Steel (up 4.23% at Rs 406.45), National Aluminium Company (up 3.27% at Rs 50.60), Steel Authority of India (up 2.79% at Rs 53.35), Jindal Steel & Power (up 2.18% at Rs 86.80), Hindalco Industries (up 1.97% at Rs 162.95), Vedanta (up 1.18% at Rs 176.15), Hindustan Copper (up 0.95% at Rs 69.35) and JSW Steel (up 0.84% at Rs 1,866) edged higher. NMDC (down 0.79% at Rs 113.65) and Hindustan Zinc (down 0.59% at Rs 227) edged lower.

The S&P BSE Metal index was up 1.24%. It outperformed the Sensex which was up 19.29 points or 0.07% at 28,945.65.

The S&P BSE Metal index had outperformed the market over the past one month till 7 September 2016, advancing 4.27% compared with 3.02% rise in the Sensex. The index had also outperformed the market in past one quarter, surging 24.56% as against Sensexs 7.1% rise.

Chinas imports rose 1.5% year-on-year in August, Chinas customs said today, 8 September 2016, the first rise in 22 months and beating expectations in a positive sign for the worlds second-largest economy. Exports dropped 2.8% on-year in August, according to customs, also beating expectations.

China is the worlds largest consumer of steel, copper and aluminum.

Meanwhile, copper edged higher in the global commodities market. High Grade Copper for December 2016 delivery was currently up 0.33% at $2.1045 per pound on the COMEX.

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Orient Paper & Industries spurts as board to mull business rejig
Sep 08,2016

The announcement was made after market hours yesterday, 7 September 2016.

Meanwhile, the BSE Sensex was up 32.70 points, or 0.11%, to 28,959.06.

On BSE, so far 7.91 lakh shares were traded in the counter, compared with average daily volume of 1.50 lakh shares in the past one quarter. The stock hit a high of Rs 81.95 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 74.80 so far during the day. The stock hit a 52-week low of Rs 23.35 on 9 November 2015. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 23.79% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 56.09% as against Sensexs 8.08% rise.

The small-cap company has equity capital of Rs 20.49 crore. Face value per share is Re 1.

Orient Paper & Industries said that its board will meet on 15 September 2016 to consider raising funds by way of rights issue of equity shares. The board will also consider various options for business restructuring of the company.

Orient Paper & Industries reported net loss of Rs 3.43 crore in Q1 June 2016 as against net loss of Rs 5.90 crore in Q1 June 2015. Net sales declined 5.2% to Rs 392.34 crore in Q1 June 2016 over Q1 June 2015.

Orient Paper & Industries is engaged in the manufacture and sale of paper with a wide range of writing, printing, industrial and specialty papers.

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IT shares witness selling pressure
Sep 08,2016

Infosys (down 2.75%), HCL Technologies (down 2.71%), Tech Mahindra (down 2.36%), Wipro (down 1.77%), Oracle Financial Services Software (down 1.75%), Hexaware Technologies (down 1.23%), MindTree (down 0.98%), MphasiS (down 0.87%) and Persistent Systems (down 0.5%), edged lower.

TCS slumped 5.36% to Rs 2,315.85.

The S&P BSE IT index was down 3.03% at 10,108.16. It underperformed the S&P BSE Sensex, which was up 0.15% at 28,970.67.

The BSE IT index had underperformed the market over the past 30 days till 7 September 2016, sliding 5.09% compared with 3% rise in the Sensex. The index had also underperformed the market in past one quarter, falling 7.95% as against Sensexs 8.08% rise.

TCS announced after market hours yesterday, 7 September 2016, that it intends to update investors on business trends in Q2 September 2016. Based on data at the end of August 2016, the company has characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the banking, financial services and insurance (BFSI) vertical in the United States - resulting in a sequential loss of momentum.

The BFSI vertical reportedly contributed around 40% to TCS revenue in Q1 June 2016.

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GE T&D India tumbles after reverse turnaround in Q1
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was up 58.44 points or 0.2% at 28,984.80.

On BSE, so far 14,000 shares were traded in the counter as against average daily volume of 12,243 shares in the past one quarter. The stock hit a high of Rs 329.30 and a low of Rs 317.60 so far during the day. The stock had hit a 52-week low of Rs 313.55 on 1 September 2016. The stock had hit a 52-week high of Rs 568.70 on 9 September 2015. The stock had underperformed the market over the past one month till 7 September 2016, sliding 3.87% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, declining 8.93% as against Sensexs 7.1% rise.

The mid-cap company has equity capital of Rs 51.21 crore. Face value per share is Rs 2.

GE T&D Indias net sales rose 11.6% to Rs 854.56 crore in Q1 June 2016 over Q1 June 2015.

GE T&D India (formerly Alstom T&D India) is a leading player in the power transmission business. It has a predominant presence in all stages of the power supply chain.

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TCS tumbles on outlook warning
Sep 08,2016

Meanwhile, the BSE Sensex was down 16.91 points, or 0.06%, to 28,909.45.

On BSE, so far 1.23 lakh shares were traded in the counter, compared with average daily volume of 66,344 shares in the past one quarter. The stock hit a high of Rs 2,367 and a low of Rs 2,287 so far during the day. The stock hit a 52-week high of Rs 2,769 on 5 October 2015. The stock hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had underperformed the market over the past 30 days till 7 September 2016, falling 7.68% compared with 3% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 5.06% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Re 1.

TCS announced after market hours yesterday, 7 September 2016, that it intends to update investors on business trends in Q2 September 2016. Based on data at the end of August 2016, the company has characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the banking, financial services and insurance (BFSI) vertical in the United States - resulting in a sequential loss of momentum.

The BFSI vertical reportedly contributed around 40% to the companys revenue in Q1 June 2016.

Meanwhile, some other media reports suggested that TCS chief marketing officer (CMO) John Lenzen has quit. Lenzen, who was based out of Chicago, joined TCS in 2004, and was a member of the Tata Group Brand Advisory Council. He has already updated his LinkedIn profile and lists his current designation as CMO at CareerBuilder, a Chicago-based recruitment software firm, reports added.

TCS consolidated net profit fell 0.4% to Rs 6317 crore on 3% rise in revenue to Rs 29305 crore in Q1 June 2016 over Q4 March 2016.

TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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Ashok Leyland turns volatile after announcing restructuring pact with Nissan Motor
Sep 08,2016

The announcement was made after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was down 12.69 points or 0.04% at 28,913.67.

On BSE, so far 4.04 lakh shares were traded in the counter as against average daily volume of 12.87 lakh shares in the past two weeks. The stock was volatile. The stock lost as much as 1.01% at the days low of Rs 87.60 so far during the day. The stock rose as much as 1.29% at the days high of Rs 89.65 so far during the day. The stock had hit a 52-week low of Rs 78.05 on 11 February 2016. The stock had hit a record high of Rs 112.80 on 13 April 2016. The stock had underperformed the market over the past one month till 7 September 2016, advancing 0.51% compared with 3.02% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 16.51% as against Sensexs 7.1% rise.

The large-cap company has equity capital of Rs 284.59 crore. Face value per share is Rs 1.

Ashok Leyland announced a restructuring agreement with Nissan Motor Co. that will enable both companies to enter into a new phase in their business interaction. Nissan has agreed to sell to Ashok Leyland all of Nissans shares in three joint venture (JV) companies that were formed in 2008. These JVs focus on technology development, and manufacturing of powertrains and vehicles. Under the agreement, these JVs will become wholly-owned Ashok Leyland subsidiaries, upon receipt of all necessary approvals from the regulatory authorities in India. The process is expected to be concluded later this year, Ashok Leyland said.

Ashok Leylands Managing Director Vinod Dasari said that the company has decided to acquire Nissans stake in the three JV companies, and this will help Ashok Leylands efforts to concentrate on its core business initiatives and its customers. Ashok Leyland will continue its relationship with Nissan under the new arrangement, Dasari added.

Ashok Leylands net profit jumped 101.2% to Rs 290.78 crore on 10.6% growth in net sales to Rs 4175.79 crore in Q1 June 2016 over Q1 June 2015.

Ashok Leyland is one of the leading manufacturers of medium and heavy commercial vehicles in India.

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ONGC gains after Q1 results
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the BSE Sensex was down 28.53 points, or 0.10%, to 28,897.83.

On BSE, so far 3.07 lakh shares were traded in the counter, compared with average daily volume of 6.62 lakh shares in the past one quarter. The stock hit a high of Rs 254.70 and a low of Rs 247.85 so far during the day. The stock hit a 52-week high of Rs 267.65 on 12 October 2015. The stock hit a 52-week low of Rs 188 on 12 February 2016. The stock had outperformed the market over the past 30 days till 7 September 2016, rising 7.03% compared with 3% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.41% as against Sensexs 8.08% rise.

The large-cap company has equity capital of Rs 4277.75 crore. Face value per share is Rs 5.

ONGC has notified seven (7) new discoveries in Q1 June 2016 and eight (8) so far in the financial year ending March 2017 (3 new prospect discoveries and 5 new pool discoveries).

The company reported 2.02% decline in total crude oil production to 6.012 million metric tonne (MMT) in Q1 June 2016 over Q1 June 2015.

The company reported 17.78% decline in net realisation of crude oil to Rs 3085 per bbl in Q1 June 2016 over Q1 June 2015. In Dollar terms, the company reported 21.97% decline in net realisation of crude oil to $46.10 per bbl in Q1 June 2016 over Q1 June 2015.

ONGC did not bear any under-recovery discount in Q1 June 2016. However, in terms of the decision of the Government of India, the company had shared under-recoveries of oil marketing companies (OMCs) amounting to Rs 1096 crore in Q1 June 2015 by allowing discount in the prices of crude oil based on the rates of discount communicated by Petroleum Planning and Analysis Cell (PPAC).

ONGC is Indias largest oil and gas exploration firm by sales.

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GAIL (India) gains after strong Q1 results
Sep 08,2016

The result was announced after market hours yesterday, 7 September 2016.

Meanwhile, the S&P BSE Sensex was down 3.50 points or 0.01% at 28,922.86.

On BSE, so far 60,000 shares were traded in the counter as against average daily volume of 2.32 lakh shares in the past two weeks. The stock hit a high of Rs 407 and a low of Rs 400 so far during the day. The stock had hit a 52-week high of Rs 407.80 yesterday, 7 September 2016. The stock had hit a 52-week low of Rs 272.75 on 7 September 2015.

The large-cap company has equity capital of Rs 1268.48 crore. Face value per share is Rs 10.

GAIL (India) attributed the sharp surge in its bottom line in Q1 June 2016 to turnaround in its petrochemical business and partial sale of stake in Mahanagar Gas. The companys profit after tax (PAT) excluding gain from stake sale in Mahanagar Gas rose 118% to Rs 846 crore in Q1 June 2016 over Q1 June 2015. The companys bottom line growth during the quarter was also supported by increase in natural gas sales and transmission volumes.

Meanwhile, shares of GAIL (India) turned ex-dividend today, 8 September 2016, for final dividend of Rs 3 per share for the year ended 31 March 2016 (FY 2016). Before turning ex-dividend, the stock offered a dividend yield of 0.75% based on the closing price of Rs 396.50 on BSE yesterday, 7 September 2016.

State-run GAIL (India) is Indias largest natural gas company with a market share of over 80% in natural gas transmission. Apart from natural gas transmission, distribution and processing, GAIL has diversified business interests in LPG transmission, petrochemicals, city gas projects and exploration and production activities. Government of India (GoI) holds 56.11% stake in GAIL (as per shareholding pattern as on 30 June 2016).

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SBI hits 52-week high
Sep 07,2016

The announcement was made after market hours yesterday, 6 September 2016.

Meanwhile, the S&P BSE Sensex was down 30.18 points or 0.1% at 28,947.84.

On BSE, so far 54.58 lakh shares were traded in the counter as against average daily volume of 26.13 lakh shares in the past one quarter. The stock hit a high of Rs 270 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 260.40 so far during the day. The stock had hit a 52-week low of Rs 148.30 on 12 February 2016. The stock had outperformed the market over the past one month till 6 September 2016, advancing 11.45% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 30.34% as against Sensexs 8.22% rise.

The large-cap state-run bank has equity capital of Rs 776.28 crore. Face value per share is Rs 1.

State Bank of India (SBI) said it has raised Rs 2100 crore from issue of AT1 Basel III compliant non-convertible, perpetual, subordinated, unsecured debt instrument in the nature of debentures to Yes Bank on private placement basis. The coupon rate on the debentures is 9% per annum payable annually with call option after 5 years or any coupon payment date thereafter.

SBIs net profit fell 31.7% to Rs 2520.96 crore on 9.4% rise in net sales to Rs 48928.60 crore in Q1 June 2016 over Q1 June 2015.

SBI is Indias biggest bank in terms of branch network. The Government of India currently holds 60.18% stake in SBI (as per the shareholding pattern as on 30 June 2016).

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Redington (India) firms up ahead of iPhone 7 launch
Sep 07,2016

Meanwhile, the BSE Sensex was down 38.85 points, or 0.13%, to 28,939.17.

On BSE, so far 1.60 lakh shares were traded in the counter, compared with average daily volume of 69,385 shares in the past one quarter. The stock hit a high of Rs 122.70 and a low of Rs 117.55 so far during the day. The stock hit a 52-week high of Rs 132 on 24 September 2015. The stock hit a 52-week low of Rs 95.10 on 28 July 2016. The stock had outperformed the market over the past 30 days till 6 September 2016, rising 12.26% compared with 2.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 11.44% as against Sensexs 7.24% rise.

The mid-cap company has equity capital of Rs 79.96 crore. Face value per share is Rs 2.

Apples new iPhones called the iPhone 7 and iPhone 7 Plus are set to launch later in the global day today, 7 September 2016. According to reports, iPhone 7 and iPhone 7 Plus will go on sale in India on 16 September 2016.

Redington India is one of the key distributors for Apple products in India.

On a consolidated basis, net profit of Redington India rose 13.21% to Rs 93.08 crore on 27.26% rise in net sales to Rs 9632.95 crore in Q1 June 2016 over Q1 June 2015.

Redington (India) is a supply chain solutions provider worldwide to leading manufacturers of information technology, telecom, lifestyle and consumer electronics products.

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HDFC slips on profit booking
Sep 07,2016

Meanwhile, the S&P BSE Sensex was up 27.46 points or 0.09% at 29,005.48.

On BSE, so far 40,000 shares were traded in the counter as against average daily volume of 1.69 lakh shares in the past one quarter. The stock hit a high of Rs 1,463.25 so far during the day, which is a record high for the counter. The stock hit a low of Rs 1,418.50 so far during the day. The stock had hit a 52-week low of Rs 1,012 on 25 February 2016. The stock had outperformed the market over the past one month till 6 September 2016, advancing 8.54% compared with 3.2% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 16.23% as against Sensexs 8.22% rise.

The large-cap company has equity capital of Rs 316.59 crore. Face value per share is Rs 2.

Shares of HDFC had rallied 7.17% in the preceding seven trading sessions to settle at Rs 1,454.90 yesterday, 6 September 2016, from its close of Rs 1,357.60 on 25 August 2016.

HDFCs net profit rose 37.5% to Rs 1870.73 crore on 19.4% growth in total income to Rs 8393.33 crore in Q1 June 2016 over Q1 June 2015.

HDFC is Indias first retail housing finance company and is currently one of the largest originators of housing loans in the country.

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Indoco Remedies turns volatile after receiving USFDA observations
Sep 07,2016

The announcement was made during trading hours today, 7 September 2016. Shares tumbled after this announcement. However, shares bounced back as the company added that all the observations are correctable and the company expects to complete the corrective and preventive actions within a period of 30 days.

Meanwhile, the BSE Sensex was up 18.87 points, or 0.07%, to 28,996.89.

On BSE, so far 1.29 lakh shares were traded in the counter, compared with average daily volume of 6,341 shares in the past one quarter. Trading in the counter was volatile. The stock rose 12.15% at the days high of Rs 360.35 so far during the day,which is also a 52-week high for the counter. The stock fell 7.53% at the days low of Rs 297.10 so far during the day. The stock hit a 52-week low of Rs 244 on 25 February 2016. The stock had outperformed the market over the past 30 days till 6 September 2016, rising 3.31% compared with 2.82% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.47% as against Sensexs 7.24% rise.

The small-cap company has equity capital of Rs 18.43 crore. Face value per share is Rs 2.

Indoco Remedies said that US Food and Drug Administration (USFDA) inspected the companys Goa plant II from 31 August 2016 to 4 September 2016. The injectable Abbreviated New Drug Application (ANDA) filings triggered this inspection.

At the end of the inspection, six 483 observations were issued. All the observations are correctable and the company expects to complete the corrective and preventive actions within a period of 30 days. None of the 483s are related to data integrity issue, the company said.

An FDA Form 483 is issued to a firm at the conclusion of an inspection when an investigator has observed any conditions that in their judgement may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

Net profit of Indoco Remedies declined 4.95% to Rs 19.79 crore on 15.79% rise in net sales to Rs 252.72 crore in Q1 June 2016 over Q1 June 2015.

Indoco Remedies is a fully integrated, research-oriented pharma vompany with presence in 55 countries.

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