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Metal and mining stocks rally
Jan 11,2017

Meanwhile, the S&P BSE Metal index was up 469.27 points or 4.36% at 11,222.43 and was the top performer among the sectoral indices on the BSE.

The Sensex was currently up 228.06 points or 0.85% at 27,133.60. The rise in the S&P BSE Metal index was higher than than Sensexs decline in percentage terms.

Jindal Steel & Power (JSPL) (up 11.62%), Vedanta (up 1.85%), Hindalco Industries (up 6.18%), JSW Steel (up 6.37%), Bhushan Steel (up 5.15%), Tata Steel (up 3.95%), Hindustan Zinc (up 2.26%), Steel Authority of India (Sail) (up 5.3%), National Aluminum Company (up 5.59%), NMDC (up 2.03%), MOIL (up 0.44%) and Hindustan Copper (up 0.89%) rose.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for March 2017 delivery was currently off 0.04% at $2.6115 per pound on the COMEX.

The BSE Metal index index had underperformed the market over the past 30 days till 10 January 2017, falling 1.2% compared with 1.45% rise in the Sensex. The index, however, outperformed the market in past one quarter, gaining 3.29% as against Sensexs 4.21% fall.

Marketmen are awaiting details on Donald Trumps plan for tax cuts and infrastructure spending. Executives from BHP Billiton, the worlds biggest miner, reportedly met with President-elect Donald Trump for talks on the industry, as the incoming administrations pledges to boost infrastructure spending.

Metal stocks across the globe had advanced yesterday, 10 January 2017 after base metal prices jumped due to better-than-expected producer price inflation in China.

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Welspun India nudges higher after groups investment plans in textile projects
Jan 11,2017

The announcement was made during market hours today, 11 January 2017.

Meanwhile, the BSE Sensex was up 224.68 points, or 0.84%, to 27,124.24.

On the BSE, 42,747 shares were traded in the counter so far, compared with average daily volume of 6.37 lakh shares in the past one quarter. The stock had hit a high of Rs 69.75 and a low of Rs 68.65 so far during the day. The stock had hit a record high of Rs 119.90 on 14 June 2016. The stock had hit a 52-week low of Rs 46.35 on 30 August 2016.

The stock had underperformed the market over the past one month till 10 January 2017, gaining 0.15% compared with the Sensexs 0.57% gains. The scrip had, however, outperformed the market in past one quarter, gaining 21.17% as against the Sensexs 4.21% fall.

The mid-cap company has equity capital of Rs 100.47 crore. Face value per share is Re 1.

Welspun Group, a $2.3 billion global conglomerate operating in home textiles, line pipes and infrastructure announced an investment of Rs 4000 crore for three large textile projects in Gujarat. The three memorandum of understandings (MoUs) which are being signed during the ongoing Vibrant Gujarat Summit 2017 were announced by Mr. BK Goenka - Chairman, Welspun Group at the Summit.

Amongst the larger of the three projects, Welspun will invest Rs 2000 crore in developing an integrated textile manufacturing zone. This will be a part of the Government of Indias Sagarmala project where Kutch is among the first identified key locations.

The company aims to develop a large, modern and futuristic textile industrial complex that will manufacture and supply world class textile products for the global markets. Welspun will leverage on its expertise in developing industrial infrastructures. The Kutch facilitywill provide a unique ecosystem for entrepreneurs to set up manufacturing facilities.

The project will generate direct employment of nearly 5,000 and will provide indirect employment to nearly 15,000 people.

Welspun will further invest Rs 1000 crore in its technical textile business for capacity enhancement, addition of new products and training and skill development. Under this vertical, the company has already made its mark with products for specialised use in healthcare, fire departments and other utilities.

These products include specialised features such as fireretardants, stain resistant, anti-bacterial, PET resistant, and soil resistance, among others. Most of these products are also recyclable. The project will give direct employment to nearly 1,500 people.

Another Rs 1000 crore is being invested in the advanced textile arm of Welspun that focuses on manufacturing specialised materials for applications in aerospace, defense and automobile sectors. The project will generate a direct employment of 2,000 persons and indirect employment of 5,000.

Welspun Group has already invested Rs 10000 crore in Gujarat so far and fresh investments takes total investment to Rs 14000 crore. These investments willfurther consolidate Welspuns global leadership position and explore new avenues for its upcoming businesses in technical as well as advanced textiles.

Welspun India reported consolidated net loss of Rs 147.52 crore in Q2 September 2016 compared with net profit of Rs 179.37 crore in Q2 September 2015. Consolidated net sales rose 18.7% to Rs 1575.71 crore in Q2 September 2016 over Q2 September 2015.

Welspun India is the leading home fashions supplier in the USA and amongst the top 3 global manufacturers of bed and bath linen.

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Jindal Steel & Power leads gainers in A group
Jan 11,2017

Jindal Steel & Power jumped 11.09% to Rs 83.15 at 13:41 IST. The stock topped the gainers in the BSEs A group. On the BSE, 38.39 lakh shares were traded on the counter so far as against the average daily volumes of 9.90 lakh shares in the past two weeks.

JSW Steel surged 5.97% to Rs 188.90. The stock was the second biggest gainer in A group. On the BSE, 16.24 lakh shares were traded on the counter so far as against the average daily volumes of 2.44 lakh shares in the past two weeks.

Hindalco Industries gained 6.09% at Rs 174.15. The stock was the third biggest gainer in A group. On the BSE, 17.62 lakh shares were traded on the counter so far as against the average daily volumes of 10.84 lakh shares in the past two weeks.

IndusInd Bank advanced 5.45% at Rs 1,225.20. The stock was the fourth biggest gainer in A group. On the BSE, 2.96 lakh shares were traded on the counter so far as against the average daily volumes of 89,000 shares in the past two weeks.

Steel Authority of India rose 5.01% to Rs 55.50. The stock was the fifth biggest gainer in A group. On the BSE, 13.18 lakh shares were traded on the counter so far as against the average daily volumes of 4.39 lakh shares in the past two weeks.

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Volumes jump at Gini Silk Mills counter
Jan 11,2017

Gini Silk Mills volume of 2.74 lakh shares by 12:55 IST on BSE, a 210.27-times surge over two-week average daily volume of 1,304 shares. The stock rose 4.18% to Rs 499.80.

The Ramco Cements notched up volume of 10.14 lakh shares, a 78.14-fold surge over two-week average daily volume of 13,000 shares. The stock rose 2.12% to Rs 618.

Colgate-Palmolive (India) saw volume of 3 lakh shares, a 31.05-fold surge over two-week average daily volume of 9,650 shares. The stock declined 0.41% to Rs 888.70.

Federal Bank clocked volume of 52.21 lakh shares, a 14.67-fold surge over two-week average daily volume of 3.55 lakh shares. The stock gained 3.22% to Rs 72.05.

Eicher Motors saw volume of 65,000 shares, a 13.65-fold rise over two-week average daily volume of 4,742 shares. The stock declined 0.01% to Rs 22,985.

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Royal Orchid spurts after acquiring remaining stake in its subsidiary
Jan 11,2017

The announcement was made during market hours today, 11 January 2017.

Meanwhile, the BSE Sensex was up 155.27 points, or 0.58%, to 27,054.83.

More than usual volumes were witnessed on the counter. On the BSE, 33,754 shares were traded in the counter so far as against average daily volume of 13,386 shares in the past one quarter. The stock had hit a high of Rs 86.40 and a low of Rs 75.20 so far during the day. The stock had hit a 52-week high of Rs 115.10 on 11 January 2016. The stock had hit a 52-week low of Rs 56.60 on 17 February 2016.

The stock had underperformed the market over the past one month till 10 January 2017, falling 0.33% compared with the Sensexs 0.57% gains. The scrip had, however, outperformed the market in past one quarter, gaining 15.06% as against the Sensexs 4.21% fall.

The small-cap company has equity capital of Rs 27.23 crore. Face value per share is Rs 10.

Upon acquisition of shares from the joint venture partner, Amartara Hospitality Private Limited has become wholly owned subsidiary of Royal Orchid Hotels. The cost of acquisition is Rs 2.5 crore. Earlier, Royal Orchid held 75.1% stake in Amartara Hospitality. The acquisition is a part of settlement agreement between the joint venture partners.

The consideration shall be payable on or before expiry of three years from 6 January 2017 or on or before the expiry of 30 days after the date on which the immovable property of the company is sold, whichever is earlier.

Amartara Hospitality was incorporated in 2009, with an object of running hospitality business. However, it could not commence its hotel operation as on date. The paid up share capital of Amartara Hospitality is Rs 35.50 crore.

Royal Orchid Hotels net profit rose 33.7% to Rs 2.74 crore on 8.7% decline in net sales to Rs 19.19 crore in Q2 September 2016 over Q2 September 2015.

Royal Orchid Hotels operates business and leisure hotels in popular destinations.

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Indiabulls Housing Finance advances after bulk deal
Jan 11,2017

Meanwhile, the S&P BSE Sensex was up 168.67 points or 0.63% at 27,068.23

Bulk deal boosted volume on the scrip. On the BSE, 17.20 lakh shares were traded in the counter so far as against average daily volume of 1.21 lakh shares in the past one quarter. The stock had hit a high of Rs 713.50 and a low of Rs 688.05 so far during the day.

The stock had hit a record high of Rs 895 on 20 October 2016. The stock had hit a 52-week low of Rs 551 on 24 February 2016. The stock had underperformed the market over the past 30 days till 10 January 2017, falling 0.8% compared with the Sensexs 1.45% rise. The scrip also underperformed the market in past one quarter, sliding 18.67% as against the Sensexs 4.21% fall.

The large-cap company has equity capital of Rs 84.75 crore. Face value per share is Rs 2.

Indiabulls Housing Finance recently announced that it has reduced its home loan rate by 45 basis points to 8.65% for its customers with effect from 3 January 2017.

Indiabulls Housing Finances consolidated net profit rose 23.2% to Rs 684.31 crore on 28.02% growth in total income to Rs 2874.95 crore in Q2 September 2016 over Q2 September 2015.

Indiabulls Housing Finance is a housing finance company. The company also provides other loans, such as loan against residential properties for home improvement and to small businesses, commercial vehicle loans, and corporate loans for housing projects.

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PSU OMCs extend prior sessions gains on fall in crude oil prices
Jan 11,2017

HPCL (up 1.99%), BPCL (up 0.64%) and Indian Oil Corporation (IOCL) (up 0.53%) edged higher.

HPCL, BPCL and IOCL had gained 3.26%, 0.86% and 1.08%, respectively, in the preceding session.

The S&P BSE Sensex was up 143.01 points or 0.53% at 27,043.21.

Lower crude oil prices could decrease under-recoveries of public sector oil marketing companies (PSU OMCs) on domestic sale of liquified petroleum gas (LPG) and kerosene at controlled prices. The government has already freed pricing of petrol and diesel.

In global commodities markets, Brent for March 2017 settlement was up 10 cents at $53.74 a barrel. The contract had dropped $1.3 a barrel or 2.36% to settle at $53.64 a barrel during previous trading session.

Crude oil prices edged up today, 11 January 2017, lifted by a small supply cut by crude exporter Saudi Arabia, but markets remained under pressure from signs that the planned Organization of the Petroleum Exporting Countries (OPEC) output reductions were being poorly implemented and as supplies from elsewhere rose.

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Chembond Chemicals gains on plan to acquire additional stake in JV
Jan 11,2017

The announcement was made after market hours yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 136.03 points, or 0.51% to 27,035.59

On the BSE, 35,000 shares were traded on the counter so far as against the average daily volumes of 8,394 shares in the past one quarter. The stock had hit a high of Rs 220 and a low of Rs 206 so far during the day.

The stock had hit a 52-week high of Rs 257.48 on 28 July 2016. The stock had hit a 52-week low of Rs 159.50 on 17 February 2016. The stock had outperformed the market over the past 30 days till 10 January 2017, rising 2.44% compared with the Sensexs 1.45% gains. The scrip, however, underperformed the market in past one quarter, sliding 6.62% as against the Sensexs 4.21% fall.

The small-cap company has equity capital of Rs 6.72 crore. Face value per share is Rs 5.

Chembond Chemicals said that the company has entered into a share purchase agreement (SPA) with I-Chem Solution Sdn Bhd, Malaysia and I Chembond Water Sdn Bhd, Malaysia, whereby the company, would acquire additional 49% of the equity shares of I Chembond Water Sdn Bhd, Malaysia. Post fulfillment of all the necessary terms, conditions & requirements as mentioned in the SPA, the company would hold 100% of equity share capital of I Chembond Water Sdn Bhd, Malaysia. Further, pursuant to the fulfillment of the terms of the SPA, the joint venture (JV) agreement with I-Chem Solution Sdn Bhd, Malaysia stands terminated.

Chembond Chemicals net profit dropped 27.11% to Rs 2.42 crore on 4.11% rise in net sales to Rs 71.43 crore in Q2 September 2016 over Q2 September 2015.

Chembond Chemicals is engaged in manufacturing a diverse range of specialty chemicals like water treatment, polymers, construction chemicals, high performance coatings, animal nutritions and industrial biotech products.

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Suzlon Energy gains after securing new order
Jan 11,2017

The announcement was made during market hours today, 11 January 2017.

Meanwhile, the S&P BSE Sensex was up 130.47 points or 0.49% at 27,030.03.

On the BSE, 42 lakh shares were traded on the counter so far as against the average daily volumes of 40.30 lakh shares in the past one quarter. The stock had hit a high of Rs 15.70 and a low of Rs 15 so far during the day.

The stock had hit a 52-week high of Rs 21.95 on 11 January 2016 and a 52-week low of Rs 12.47 on 9 November 2016.

The mid-cap company has equity capital of Rs 1004.88 crore. Face value per share is Rs 2.

Suzlon Energy announced that it was awarded 226.80 megawatt (MW) contract from a leading independent power producer (IPP). The order consists of 108 units of S111 90m tubular tower with rated capacity of 2.1 MW. The project will be located in Anantapur district of Andhra Pradesh, and is scheduled for completion by March 2017.

The company has entered into an exclusive supply and installation agreement (SIA) and engineering and construction of the project. It will also be responsible for operation and maintenance services with dedicated life cycle asset management services for an initial period of 10 years. The project has the potential to provide power to over 1.20 lakh households and reduce 0.48 million tonnes of CO2 emissions per annum.

On a consolidated basis, Suzlon Energy reported net profit of Rs 237.62 crore in Q2 September 2016 as against net loss of Rs 201.66 crore in Q2 September 2015. Net sales rose 57.30% to Rs 2746.18 crore in Q2 September 2016 over Q2 September 2015.

Suzion Energy is one of the leading renewable energy solutions providers in the world with an international presence across 19 countries in Asia, Australia, Europe, Africa and North and South America.

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Aviation stocks pick up pace after drop in crude oil prices
Jan 11,2017

Meanwhile, the S&P BSE Sensex was up 145.74 points or 0.54% at 27,045.30.

Jet Airways (India) (up 0.01%), SpiceJet (up 1.94%) and InterGlobe Aviation (up 1.41%) gained.

In global commodities markets, Brent for March 2017 settlement was up 10 cents at $53.74 a barrel. The contract had dropped $1.3 a barrel or 2.36% to settle at $53.64 a barrel during previous trading session.

Crude oil prices edged up today, 11 January 2017, lifted by a small supply cut by crude exporter Saudi Arabia, but markets remained under pressure from signs that the planned Organization of the Petroleum Exporting Countries (OPEC) output reductions were being poorly implemented and as supplies from elsewhere rose.

Lower crude oil prices would benefit aviation firms as jet fuel prices, which typically constitute about 50% of airlines operating costs, are directly linked to international crude oil prices. Jet fuel prices tend to fall with slide in oil prices.

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Bharat Electronics scales record high as board to consider stock-split
Jan 11,2017

Meanwhile, the S&P BSE Sensex was up 127.52 points or 0.47% at 27,027.08

On the BSE, 39,000 shares were traded on the counter so far as against the average daily volumes of 35,718 shares in the past one quarter. The stock hit a high of Rs 1,549.50 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 1,528.60 so far during the day. The stock had hit a 52-week low of Rs 1,009 on 1 March 2016.

The stock had underperformed the market over the past one month till 10 January 2017, rising 0.45% compared with the Sensexs 1.45% gains. The scrip, however, outperformed the market in past one quarter, gaining 20.61% as against the Sensexs 4.21% fall.

The large-cap company has equity capital of Rs 223.36 crore. Face value per share is Rs 10.

Shares of Bharat Electronics had gained 4.02% to settle at Rs 1,512.70 yesterday, 10 January 2017 on reports that a foreign brokerage firm has assigned outperformer rating on the stock with target price at Rs 1,800 per share.

Bharat Electronics will declare its Q3 December 2016 results on 27 January 2017. The companys net profit rose 68.2% to Rs 346.25 crore on 15.1% growth in net sales to Rs 1755.89 crore in Q2 September 2016 over Q2 September 2015.

Bharat Electronics was established at Bangalore, India, by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-unit company servicing the needs of customers in diverse fields in India and abroad.

The Government of India held 74.41% stake in Bharat Electronics (as per the shareholding pattern as on 31 December 2016).

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Somany Ceramics gains after raising short term debt
Jan 11,2017

The announcement was made after market hours yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 132.41 points or 0.50% at 27,032.84.

On the BSE, 1,815 shares were traded in the counter so far as against average daily volume of 4,464 shares in the past one quarter. The stock had hit a high of Rs 489 and a low of Rs 476.55 so far during the day. The stock had had hit a record high of Rs 714 on 26 October 2016. The stock had hit a 52-week low of Rs 321.90 on 26 February 2016.

The stock had underperformed the market over the past one month till 10 January 2017, dropping 8.47% compared with the Sensexs 0.57% gains. The scrip had also underperformed the market in past one quarter, falling 22.38% as against the Sensexs 4.21% fall.

The small-cap company has equity capital of Rs 8.48 crore. Face value per share is Rs 2.

Somany Ceramics said that commercial paper was issued in order to reduce its high interest bearing cash credit limits, which will in turn reduce its cost of borrowing.

Somany Ceramics net profit jumped 116.1% to Rs 23.01 crore on 10.2% rise in net sales to Rs 444.33 crore in Q2 September 2016 over Q2 September 2015.

Somany Ceramics is a manufacturer of ceramic tiles and allied products.

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IndusInd Bank extends gains after announcing good Q3 results
Jan 11,2017

The result was announced at the fag end of market hours yesterday, 10 January 2017. The stock had risen 0.19% to settle at Rs 1,161.85 yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 151.18 points or 0.56% at 27,050.74.

On the BSE, 83,668 shares were traded on the counter so far as against the average daily volumes of 77,876 shares in the past one quarter. The stock had hit a high of Rs 1,207.10 and a low of Rs 1,186.05 so far during the day. The stock had hit a record high of Rs 1,255.30 on 7 September 2016 and a 52-week low of Rs 799 on 11 February 2016.

The stock had outperformed the market over the past one month till 10 January 2017, gaining 4.49% compared with the Sensexs 0.57% gains. The scrip had, however, underperformed the market in past one quarter, falling 4.89% as against the Sensexs 4.21% fall.

The large-cap bank has equity capital of Rs 597.71 crore. Face value per share is Rs 10.

IndusInd Banks gross non-performing assets (NPAs) rose to Rs 971.62 crore as on 31 December 2016 as against Rs 899.01 crore as on 30 September 2016 and Rs 681.13 crore as on 31 December 2015. The ratio of gross NPAs to gross advances increased to 0.94% as on 31 December 2016 as against 0.9% as on 30 September 2016 and 0.82% as on 31 December 2015.

The ratio of net NPAs to net advances stood at 1.88% as on 31 December 2016 as against 1.93% as on 30 September 2016 and 1.92% as on 31 December 2015. The banks provisions and contingencies (excluding tax provisions) rose 22.45% to Rs 216.85 crore in Q3 December 2016 over Q3 December 2015.

IndusInd Bank is a leading private sector bank in India.

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Hind Rectifiers jumps as board to consider rights issue
Jan 11,2017

The announcement was made after market hours yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 133.04 points or 0.49% at 27,032.60.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 6,459 shares in the past one quarter. The stock had hit a high of Rs 99.70 and a low of Rs 95.30 so far during the day.

The stock had hit a 52-week high of Rs 113.60 on 1 November 2016 and a 52-week low of Rs 58.10 on 29 February 2016.

The small-cap company has equity capital of Rs 3.01 crore. Face value per share is Rs 2.

Hind Rectifiers said that a meeting of the board of directors of the company is scheduled on 15 January 2017 to consider, in principle, the issue of equity shares on a right basis to the existing equity shareholders of the company.

Hind Rectifiers reported net loss of Rs 0.86 crore in Q2 September 2016, lower than net loss of Rs 2.05 crore in Q2 September 2015. Net sales rose 62% to Rs 28.57 crore in Q2 September 2016 over Q2 September 2015.

Hind Rectifiers is engaged in developing, designing, manufacturing and marketing power semiconductor, power electronic equipments and railway transportation equipments.

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Endurance Technologies spurts as overseas subsidiary commences operations at new plant
Jan 11,2017

The announcement was made after market hours yesterday, 10 January 2017.

Meanwhile, the S&P BSE Sensex was up 167.59 points or 0.62% at 27,067.15

On the BSE, 27,000 shares were traded on the counter so far as against the average daily volumes of 13,000 shares in the past two weeks. The stock had hit a high of Rs 592.40 and a low of Rs 576.60 so far during the day.

The stock had hit a record high of Rs 674.90 on 20 October 2016. The stock had hit a record low of Rs 518.25 on 21 November 2016.

The mid-cap company has equity capital of Rs 140.66 crore. Face value per share is Rs 10.

Endurance Technologies said that the companys wholly owned subsidiary in Germany, Endurance Amann GmbH, has commenced operations at its new machining plant from 10 January 2017. The plant is located at Massenbachhausen, Germany, in proximity to the existing two plants of Endurance Amann GmbH. The new plant admeasuring about 4,500 square meters will contain machining operations, warehouse and office facilities.

Shares of Endurance Technologies had debuted on BSE on 19 October 2016 at Rs 570, a premium of 20.76% over its initial public offer (IPO) of Rs 472 per share. The IPO of Endurance Technologies had seen strong response from investors. The issue had received bids for 75.52 crore shares and it was subscribed 43.84 times.

Endurance Technologies consolidated net profit rose 14.78% to Rs 89.30 crore on 7.3% rise in total income to Rs 1453.55 crore in Q2 September 2016 over Q2 September 2015.

Endurance Technologies is a two-wheeler and three-wheeler automotive component manufacturer. The company has operations in Europe with highly-automated manufacturing facilities in Italy and Germany. The company is a tier one supplier to original equipment manufacturers (OEMs) for most of its products. In India, the company manufactures a diverse range of technology-intensive automotive components for the two-wheeler and three-wheeler segments. The company also manufactures specified components for four-wheeler passenger vehicles, light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs).

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