INDIAM STOCK MARKET DAILY REPORT FOR TOADY 28-OCT

Views on markets today

- Markets consolidated on Friday and ended lower for the fourth straight session as investors remained cautious and booked profits at higher levels. The gains in IT majors were negated by losses in heavyweights, such as L&T, ITC, HUL and M&M.


The 30-share Sensex ended down 42 points at 20,683 and the 50-share Nifty ended down 19 points at 6,145.

- Idea Cellular closed 1.94% to Rs 171.80 on BSE after profit after tax rose 13.2% to Rs 398.50 crore in Q2 September 2013 from Rs 351.90 crore (despite including Rs 154.30 crore dividend from Indus) in Q2 September 2012.

- Essar Shipping rose 4.01%, in the intraday trade, to Rs 18.15 on BSE after the company reported consolidated net loss of Rs 11.20 crore in Q2 September 2013, lower than net loss of Rs 35.99 crore in Q2 September 2012.

- Thomas Cook (India) closed 2.29% at Rs 78.05 on BSE after consolidated net profit jumped 50.89% to Rs 15.1- crore on 313.51% surge in total income from operations to Rs 436.71 crore in Q3 September 2013 over Q3 September 2012.

- Rolta India closed 1.19% up at Rs 59.40 on BSE after consolidated net profit rose 11.1% to Rs 70.26 crore on 33.5% growth in revenue to Rs 627.77 crore in Q1 September 2013 over Q1 September 2012.

- Deepak Fertilisers and Petrochemicals Corporation jumped 4.73%, in the morning trade, to Rs 110.80 on BSE after net profit rose 11.8% to Rs 45.44 crore on 42.9% increase in net sales to Rs 983.79 crore in Q2 September 2013 over Q2 September 2012.

- Among the 13 BSE Sectoral Indices, 3 sectors ended the day in positive while 10 sectors ended in negative. Top Gainers: BSE IT up by 1.54% and BSE Teck by 0.98%. Top Losers: BSE Realty down by 2.27% and BSE Capital Goods by1.61%.

Market breadth was negative at ~0.91 as investors sold large cap stocks. On provisional basis, FII's bought Rs 6.26bn worth of Indian equities and DII's sold Rs 4.97bn worth of equities.


Economic and Corporate Developments

- Global financial services major HSBC lowered India's current account deficit (CAD) forecast for this financial year to 3.4% of GDP from 4.1% earlier.

HSBC said the country's CAD is at an unsustainable level, and expected to gradually decline in the coming years and in 2014-15, it is likely to be at 3.2% of GDP.


Buzzing Stocks

- GAIL (India) closed 2.23% down at Rs 343.55 on BSE after net profit fell 7.07% to Rs 915.67 crore on 21.95% increase in total income to Rs 14,224.37 crore in Q2 September 2013 over Q2 September 2012.

- IL&FS Investment Managers closed 4.94% up at Rs 18.70 on BSE after the company said its board will meet on 1 November 2013 to consider a proposal to issue bonus shares to shareholders.

- Orient Cement lost 2.56% to Rs 38.00 on BSE after net profit fell 60.52% to Rs 14.45 crore on 9.45% decline in total income from operations to Rs 322.29 crore in Q2 September 2013 over Q2 September 2012.

- Adani Power closed 5.64% down at Rs 33.45 on BSE after the company reported consolidated net loss of Rs 1,071.91 crore in Q2 September 2013, higher than net loss of Rs 260.91 crore in Q2 September 2012.

- TVS Motor Company closed 2.11% up at Rs 50.80 on BSE after net profit jumped 96.59% to Rs 88.84 crore on 16.12% increase in total income from operations to Rs 1,988.37 crore in Q2 September 2013 over Q2 September 2012.

- Indian Overseas Bank closed 3.34% down at Rs 47.80 on BSE after net profit declined 16.33% to Rs 132.55 crore on 8.78% growth in total income to Rs 5,999.75 crore in Q2 September 2013 over Q2 September 2012.

- ABB India closed 2.40% down at Rs 619.10 on BSE on profit booking after the stock rose 17.17% in the preceding five trading sessions to Rs 634.35 on 24 October 2013, from a recent low of Rs 541.40 on 17 October 2013.

- Tata Sponge Iron closed 0.68% down at Rs 305.95 on BSE after net profit declined 28.87% to Rs 18.33 crore on 4.36% decline in net sales to Rs 180.29 crore in Q2 September 2013 over Q2 September 2012.

- ICICI Bank lost 0.80% to Rs 1,013.45 on BSE after net profit rose 20.24% to Rs 2,352.05 crore on 7.54% growth in total income to Rs 12,979.75 crore in Q2 September 2013 over Q2 September 2012.

- Cairn India closed 3.19% down at Rs 313.80 on BSE as the stock turned ex-dividend on 25th October 2013, for interim dividend of Rs 6 per share for the year ending 31 March 2014.

- Unichem Laboratories closed 2.31% up at Rs 170.50 on BSE after the company said it has received the consideration amount of Rs 160.50 crore of the sale proceeds from the sale of its Indore SEZ Plant.

- Monsanto India closed 1.48% up at Rs 709.85 on BSE after the company reported net profit of Rs 7.59 crore in Q2 September 2013 as against net loss of Rs 12.11 crore in Q2 September 2012.

- Atul closed 6.95% up at Rs 383.80 on BSE after net profit rose 14% to Rs 55.54 crore on 6.9% fall in net sales to Rs 574.35 crore in Q2 September 2013 over Q2 September 2012.

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