Pre Session- Sensex seen opening lower; RBI policy meet eyed 30/09/2014

Pre Session- Sensex seen opening lower; RBI policy meet eyed
30/09/2014 08:35
The key domestic benchmarks are likely to open lower tracking a bearish trend in most Asian markets as protests in Hong Kong and concerns over the Chinese economy marred sentiment. China’s Shanghai Composite was trading with slim gains even as China’s HSBC manufacturing PMI stood unchanged at 50.2 in September from the previous month, a sign that manufacturing activity nearly stalled this month. Hang Seng slumped on political protests in Hong Kong, while Japan’s Nikkei 225 slumped as industrial production declined in August. Back home, caution will persist as the RBI announces its monetary policy decision today in which the central bank is unlikely to cut interest rates despite easing of inflationary pressures in Asia’s third biggest economy. The RBI is widely expected to keep its key rate, the repo rate unchanged at 8 per cent today, according to analysts.

Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 9198699.00, NTPC Ltd. 6329937.00, DLF Ltd. 5836396.00, Tata Motors Ltd. 5106197.00 and Jindal Steel & Power Ltd. 4583396.00.

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Excise dept aims to boost luxury tax collection 29/09/2014

Excise dept aims to boost luxury tax collection
29/09/2014 08:05
The excise department is planning to boost its luxury tax collection and in attaining its objective, the department has sought the help of Delhi Police and the tourism and trade and taxes departments, said the PTI report. The excise department seeks help from other departments in maintaining intelligence records of the city's hotels, banquet halls, spas and gyms. According to excise department, which is also in charge of collecting luxury tax in the national capital, they will clamp down heavily on entities who are found to have evaded luxury tax following a study of their financial records. Commenting on the development, Excise Department, Senior official said, “We have requested Delhi Police, the tourism department and the department of trade and taxes to help us keep intelligence records of Delhi's hotels, gyms, spas and banquet halls. We have requested police to give details of such entities registered with them as come under the ambit of luxury tax so that we may first get the exact data.” The official said that hotels which charge a room rent of Rs 750 or more per day come under the purview of luxury tax.

Exchanges need to change mindset: BSE chief 29/09/2014

Exchanges need to change mindset: BSE chief
29/09/2014 13:40
Calling for radical steps within stock exchange space, leading bourse BSE's chief Ashish Chauhan has said that the players in this business need to change their mindset and shift focus from trading revenues to give a boost to the capital-raising atmosphere, reported PTI.
At the same time, he also expressed optimism that Indian exchanges have a potential to become a major capital-raising avenue and can help attract a significant part of global funds, given the high return potential of Indian markets vis-a-vis losses suffered by investors in Chinese and other markets.
"There is almost USD 40 trillion worth money which is available in private hands and is in search of good returns and is looking for more safer harbours.
"India is slowly becoming a market which is attractive not only from return perspective but also from the investor protection perspective. That the Indian markets are now becoming top markets in terms of investor protection.
"However, exchanges would need to shift their mindset. We have to participate in India's growth and become a catalyst and growth engine or our economic growth story. We need to shift focus from trading to capital raising," Chauhan told PTI in an interview here.
"Today, a large portion of the exchanges' revenue come from trading, that is from transaction charges, and we need to focus now more on capital raising," he said.
Chauhan, CEO of Asia's oldest stock exchange which also happens to be the world's largest in terms of number of listed companies, is here to participate in various business meetings and investor roundtables in the backdrop of Prime Minister Narendra Modi's five-day US visit ending tomorrow.
"When Indian stock market automation happened 20 years ago, there was the hope that modern capital markets would bring more domestic investments into Indian markets and the household savings would be channelised into listed companies and those companies would create jobs and take forward our economy.
"But, in last 20 years, we have failed to raise the confidence of Indian investors, especially the retail investors, and because of that their numbers are almost same today," said Chauhan, who also happened to be part of the initial team of BSE's younger rival NSE when it was set up over two decades ago.
BSE's Chief Executive Officer said that although India has made huge strides in making its capital markets more transparent, fair and efficient, "We have somehow not created desired investor confidence because of which they have gone into gold, real estate etc."
"There are two aspects, both for retail and institutional investors. It is about their rights. When an investor invests in a company, the promoters also need to be made accountable for the rights of the minority shareholders.

RBI policy to drive mkts in holiday-shortened week 29/09/2014

RBI policy to drive mkts in holiday-shortened week
29/09/2014 08:16
The Reserve Bank of India's (RBI) monetary policy review on Tuesday would set the tone for the stock market in a holiday-shortened week ahead, said the PTI report. As the stock markets will remain closed on Thursday and Friday for Mahatma Gandhi Jayanthi and Dussehra respectively. Commenting on the development, Bonanza Portfolio, Senior Vice President, Rakesh Goyal said, “This week, RBI's monetary policy scheduled on September 30 shall be key trigger for market movement. Also, Prime Minister Narendra Modi's visit to the US, along with global cues can boost market sentiment, as it may put more light on economic path and other reforms for the country.”

BSE plans to increase trade by 10-times faster 29/09/2014

BSE plans to increase trade by 10-times faster
29/09/2014 08:02
India's leading stock exchange BSE is now planning a slot among the world's most technologically advanced exchanges and is targeting ten-times faster trades on its platform within three years, said the PTI report. Commenting on the development, BSE, CEO, Ashish Chauhan said, the exchange has made significant changes in its technology and has attained a response time of 200 micro- seconds for trades executed on its platform. The aim is to bring the response time further down to 20 micro-seconds within the next three years. "Today 200 micro-seconds of response time puts us in top 5-10 per cent of the exchanges of the world in terms of the ability to give the response time. It is not only about the speed but also about scalability that is the ability to take order. We have also implemented a framework that ensures that this is lowest cost, but highest in terms of technology. We have used open source software. We have utilised the technology prowess of India to ensure that we are able to get more from the same hardware,” he said. "We also implemented in April 2014 the new technology we had acquired from Deutsche Boerse and in 5-6 months that it has been in practice our number of orders per day has gone up already three times. Earlier it was 12-15 crore orders on best of the days, and today we are recording 40-45 crore orders a day on a regular basis," he added.

Net direct tax collection grows by Rs 2.60 lakh cr this fiscal 29/09/2014

Net direct tax collection grows by Rs 2.60 lakh cr this fiscal
29/09/2014 06:15
Net direct tax collection so far in the current fiscal stood at Rs 2.60 lakh crore, said a senior finance ministry official. The gross direct tax collection till September 26, 2014-15 fiscal, was at Rs 3.37 lakh crore, added the press release. Of this, corporate tax contributed was Rs 1.55 lakh crore during the period, the official said. Personal income tax realisation stood at 1.01 lakh crore. Besides, collection of Securities Transaction Tax ( STT) and Wealth Tax stood at Rs 3,222 crore and Rs 357.5 crore respectively. The government has targeted to raise Rs 7.36 lakh crore from direct taxes in 2014-15, up from over Rs 6.36 lakh crore collected last fiscal.

S&P outlook upgrade to boost investor sentiment: India Inc. 29/09/2014

S&P outlook upgrade to boost investor sentiment: India Inc.
29/09/2014 00:12
India Inc. has given thumbs up to leading global rating agency Standard & Poor’s (S&P) decision to upgrade the country’s sovereign rating outlook from negative to stable, and has expressed optimism that the decision may help woo more foreign investment in Asia’s third biggest economy which last quarter grew at the sharpest clip in more than two years. S&P on Friday upgraded its long-term outlook on India’s ‘BBB-/A-3’soveriegn credit rating from negative to stable, removing the risk of a downgrade of India’s rating to junk status as the current account deficit improved amid gold import curbs while a stable and reform oriented government has the ability to push the country into a higher growth trajectory. “What global rating agency Standard & Poor's (S&P) has recognised today has already been acknowledged by global investors who have been pouring money into the Indian debt and stock markets for the last several months," Assocham president Rana Kapoor said. "In fact, our markets have been the best performing. In a way, the rating agencies seem to be behind the curve when it comes to reposing faith in the Indian economy," he added. Prime Minister Narendra Modi has stepped up the reform process by liberilising FDI norms in sectors such as defence and railways while his ambitious ‘Make in India’ campaign seeks to make India a global manufacturing hub. Modi is leaving no stone unturned to push foreign investment in India, a key to sustaining long-term economic growth. Modi’s ability to push structural reforms may boost economic growth and better the country’s fiscal performance, S&P reckons.

India wants US cos. To list on its bourses: Report 29/09/2014

India wants US cos. To list on its bourses: Report
29/09/2014 00:09
According to media reports, India has called on American and other foreign companies to list on the country’s bourses, which may boost liquidity and efficiency of domestic stock markets apart from aiding in the development of the financial sector of Asia’s third biggest economy. The newly proposed Bharat Depository Receipts regime is similar to the existing American Depository Receipt (ADR) regime which makes it possible for Indian companies to list on US bourses, MS Sahoo, the Chairman of the government committee on Depository Receipts said, the PTI reported. Bharat Depository Receipts is a rupee denominated instrument that would be issued by an Indian depository against the listed equity of a foreign company. Sahoo added that policymakers will make sure that the new regime for allowing foreign companies to list on Indian stock exchanges via the issue of a rupee denominated instrument is not misused and that investor interest is protected at all times. Sahoo also underlined the need for a friendly tax structure for the new regime. “A complete suite of BhDRs should be allowed to be issued and traded in India to make the Indian financial system more competitive, and to provide greater choice to Indian investors. “Both Indian - retail and institutional - as well as foreign investors should be allowed to invest in BhDRs”, Sahoo-headed panel on Bharat Depository Receipts said in a report.

Labour market reforms may boost FDI: UBS 29/09/2014

Labour market reforms may boost FDI: UBS
29/09/2014 00:08
According to Swiss banking and financial major UBS, key labour market reforms including allowing flexibility in labour laws may go a long way in boosting foreign investment in the manufacturing sector of Asia’s third biggest economy, giving a boost to Prime Minister Narendra Modi’s ‘Make in India’ drive which seeks to make India a global manufacturing hub. UBS has called on Indian policymakers to allow formal flexibility in labour laws besides ensuring an improved compliance regime, factors that may help woo foreign investors to set up shop in India. Simplifying compliance and processes in the labour market may help the government achieve the ‘ease of doing business’ objective, which has been a major impediment for Indian businesses over the years. "Labour costs are low in India, compared to China. Lack of reliable infrastructure (energy or transport) is arguably a more inhibiting factor for growth of manufacturing in India, including for exports. Besides competitiveness, reliability is a key metricto become a successful and meaningful part of any global supply chain, UBS added. “Formal flexibility in labour laws and improved or simpler compliance regime will definitely help attract new Foreign Direct Investment (FDI), especially in export-oriented manufacturing," it said. UBS urged flexibility in the women employment process while easing restrictions on firings. India’s labour laws at present have been termed ‘regressive’.

India a profitable place to do business: Govt 29/09/2014

India a profitable place to do business: Govt
29/09/2014 00:07
According to media reports, an official from the Indian government has stressed that India has climbed up the rankings in terms of being a profitable place to do business and that the Narendra Modi government is stepping up efforts to make Asia’s third business economy an easier place for business in a bid to woo foreign investors. Manoj Joshi, Joint Secretary in the Indian Finance Ministry, reportedly said that the Modi government is aiming to push India’s ranking in the list of ease of doing business from the current 134th place to atleast 50. "India has been ranked 134th on World Bank list of ease of doing business and Prime Minister Narendra Modi has said he wants to bring it up to at least 50," Joshi said, the PTI reported. "It is a profitable place to do business, although not an easy place. So, government has given it top priority to make it an easier place to do business," he said. The government is taking several measures to make the country an easier place to do business including easing land acquisition norms, FDI liberalisation in defence, insurance and railways sector, tax and financial sector reforms. "We have also taken steps for further liberalisation of FDI regime and many changes are being made in financial markets to allow foreign investors to directly participate in our markets. The revival of corporate bond market is also a key focus area," Joshi said, the PTI added.

Railways to offer six pilgrim special tourist packages from Oct 29/09/2014

Railways to offer six pilgrim special tourist packages from Oct
29/09/2014 17:10
In a move to promote rail tourism in the country and to provide reasonably priced tourism package to tourists, especially the pilgrims in the country, India Railways has finalised six pilgrim special tourist train packages in the first phase, which will kick start from 25th October 2014.
The Minister of Railways, D.V.Sadananda Gowda, in his budget speech in July 2014, promised to run a tourist train covering the pilgrim and tourist places of Karnataka and Maharashtra. He also announced to run tourist trains in various Pilgrim Circuits like Devi Circuit, Jyotirling Circuit, Jain Circuit, Christian Circuit, Muslim / Sufi Circuit, Sikh Circuit, Buddhist Circuit, Famous Temple Circuit etc.
The six packages starting from 25th October 2014, aim at implementing the budget announcement, the Ministry of Railways said in a press release.
Indian Railways Corporation & Tourism Corporation (IRCTC), a Public Sector Undertaking of the Ministry of Railways has been entrusted with the running of all the six Pilgrim Special Tourist Trains. The tourist packages are; Sukhamngalam Yatra, Dham special with Dakshin Darshan via Lucknow, Dham special with Dakshin Darshan via Jaipur, Shikharji Circuit Yatra, Jyotirling Yatra, and Takht Parikrama.
Indian Railways has been giving special emphasis on promotion of Rail Tourism. A few more such Pilgrim Circuit tourist trains, in consonance with the Budget Announcement of the Minister for Railways, are also being planned to launch by this year-end.

Govt cancels 9 SEZs, including Hindalco, Essar, Adani: PTI 29/09/2014

Govt cancels 9 SEZs, including Hindalco, Essar, Adani: PTI
29/09/2014 17:09
The government of India has cancelled sanction of nine special economic zones, which includes big players such as Hindalco Industries, Essar and Adani, expressing concerns over progress of the projects, PTI reported.
As per PTI report, the decision was taken in the meeting of the Board of Approval (BoA) headed by Commerce Secretary Rajeev Kher on September 18.
"The Board noted that the progress made by the following developers/co-developers is not satisfactory. The Board, after deliberations, decided to cancel the formal approval/ notification/co-developer status, as the case may be, in 9 cases," PTI quoted Commerce Ministry as saying this.
The order further said the developers have to refund the duty benefits availed by them, PTI reported.

TRAI recommendations on spectrum pricinglikely by end of Oct 29/09/2014

TRAI recommendations on spectrum pricinglikely by end of Oct
29/09/2014 06:20
Telecom regulator Trai is likely to come out with recommendations on spectrum pricing for the next round of auction by the end of next month, said the media report. According to a source in Trai, "The recommendations are likely to come by the end of October.” The Telecom Regulatory Authority of India (Trai) in August had started the consultation process for the next round of auctions for spectrum held by mobile operators - Airtel, Vodafone, Idea and RCom - as some of their licences are set to expire in 2015-16. Trai will recommend the reserve price of spectrum to be auctioned across 18 out of the 22-telecom service areasacross the country for 900 Mhz and 1800 Mhz bands, used for providing mobile services based on GSM technologystandard, said the media report. The Authority has recently conducted an open house discussion with industry players in order to get their views on reserve price, quantum of spectrum and other issues related to auction. In December 2015, 4 licences of BhartiAirtel, 7 each of Idea Cellular, Reliance Telecom and Vodafone will complete their 20-year term and would require renewal. The companies can renew their licences by paying a fixed fee but for continuing mobile and other wireless services they will need to buy spectrum afresh through auction at market determined rates. By April 2016, two more permits of Bharti and Idea will come up for renewal. As per Trai, 184 Mhz of spectrum in 900 MHz band and 104 MHz in 1800 Mhz band can be put up for the auction. The government, in its Budget Estimates for the current financial year, 2014-15, has projected minimum revenue of Rs 9,355 crore from auction of 800 Mhz as well as the 900 Mhz and 1800 Mhz bands.

IRDA to make suggestions on insurance bill: Media Report 26/09/2014

IRDA to make suggestions on insurance bill: Media Report
26/09/2014 17:14
The Insurance Regulatory Development Authority (IRDA) would make suggestions vis-a-vis the proposed insurance bill to cover different areas like health insurance and e-commerce, IRDA Chairman TS Vijayan said. "We have a number of suggestions and would be placing them before the Select Committee (Parliament). The bill was envisaged somewhere in 2006, and lot of changes have happened in environment since then. When we are bringing the 2014 bill.. what the IRDA opinion is, it is better that latest changes in technology, is also coming into the bill," Vijayan said. He was speaking to reporters on the sidelines of a conference organised by industry body Assocham on 'Digitisation and Enhanced FDI in Insurance - The Road Ahead'. The insurance bill, brought afresh by the NDA government in the recent session of Parliament could not be passed and was referred to the Select committee, added the media report. Replying to a query, Vijayan said some of the major suggestions are related to areas like health insurance, repositories and e-commerce. "Some of the suggestions are in relation to life, non-life and health, which was not there in the one proposed in 2006. Health companies have started working and now we have experience in the health sphere, e-commerce has come. Some of the things have to find place in the bill itself," he said. The IRDA is in favour of capital infusion in the insurance sector so that it can be strengthened, Vijayan said. "What we have been consistently maintaining and is a fact also, is that industry needs capital. If foreign capital is increased, it will be easier flow of capital... We are not saying FDI has to come," he said.

Tamil Nadu Govt launches 'Amma Cement Scheme' 26/09/2014

Tamil Nadu Govt launches 'Amma Cement Scheme'
26/09/2014 15:15
The government of Tamil Nadu on Friday has announced the launch of a new scheme called ‘Amma Cement Scheme’ on the name of its Chief Minister J Jayalalithaa, who is addressed as 'Amma' (Mother) by her supporters, said the PTI report. Under the scheme, the government will procure cement from private manufacturers and sell them at Rs 190 per bag in the wake of possible increase in rates of the key construction component. Further, the Tamil Nadu government had earlier also taken such low-cost initiatives like the Amma Canteen and Amma Mineral water. Further, Jayalalithaa said she had recently discussed with officials the situation regarding production of cement from the state and supply from outside. The erstwhile united Andhra Pradesh contributed about 4-4.5 lakh tonnes of cement for Tamil Nadu's monthly average use of 17-18 lakh tonnes, but the companies there had now hiked the prices by Rs 80-100 per bag. "Subsequently, the supplies to Tamil Nadu had reduced to around 1.50 lakh tonnes to 3 lakh tonnes, creating a favourable situation for the private manufacturers here to increase price of cement," she said in a statement. As per the scheme, beneficiaries are eligible for a maximum of 750 bags for 1500 sqft, and the cement could be bought by submitting the government approved building plan or the road plan. Those wanting to buy cement for repair and renovation are eligible for 10 to 100 cement bags, she added.

Govt’s role crucial to ensure minimal disruption in power sector, says Ind-Ra 26/09/2014

Govt’s role crucial to ensure minimal disruption in power sector, says Ind-Ra
26/09/2014 11:54
The Supreme Court’s (SC) judgment would bring in the much-needed transparency in the coal sector which has been marred with non-transparent ad-hoc allocations, according to India Ratings & Research (Ind-Ra), a leading rating agency. “Over the long-run, this will boost investments in the sector and lower India’s dependence on imported coal, leading to energy security. However, the government must act promptly to ensure minimal operational disruption for the existing operational projects to further build investor confidence,” the agency said in a report. Commenting on Supreme Court verdict, the agency said the judgment was in line with our expectations expressed in the commentary government action key post Supreme Court’s Coal Block Ruling dated 27 August 2014. Ind-Ra expects the government to play a pivotal role in the resolution of coal supplies linked to operational end use projects (EUP). Independent power producers (IPP) with merchant sales are likely to see significant profitability erosion FY16 onwards in the absence of coal linkage beyond March 2015; they will have to rely on imported coal or pay higher for the coal obtained under the auction mechanism, it said. FY15 would see a one-time cash flow hit on such IPP’s due to the penalty to be paid for coal extracted till date. The ability of these merchant IPPs to tie up for domestic coal under linkage route remains remote, it added.

Cancellation of coal block may affect GDP growth: Ind-Ra 26/09/2014

Cancellation of coal block may affect GDP growth: Ind-Ra
26/09/2014 11:53
India Ratings & Research (Ind-Ra), a part of Fitch Group, on Friday said that the coal block cancellation by the Supreme Court (SC) could adversely impact India’s nascent economic recovery. On 24 September, the Supreme Court (SC) cancelled 214 coal blocks allocated since 1993. However, it has allowed four coal blocks to continue operations. At the same time, the SC has imposed a levy of Rs 295 per metric ton of coal extracted till now by all cancelled block holders and this has to be paid by 31 December 2014. The coal extracted between 1 January 2015 and 31 March 2015 will also attract a levy of Rs 295 per cent metric ton. The SC ruling on coal blocks is similar to its earlier ruling of cancellation of 2G licences in February 2012. “While the SC ruling may help in cleaning the rot and could pave the way forward for a transparent system of selling natural resources; it will have an immediate effect on a number of stakeholders and also the overall economy,” the rating agency said in a press release. The impact of this ruling will be felt across various channels and lead to a rise in non-performing assets of the banking sector, an increase in the cost of coal and in turn a rise in power tariffs, pressure on current account and finally on overall inflation in the economy. Besides impacting economic recovery this could also pose challenges for the macroeconomic stability of the economy. While the ruling will have a direct impact on corporates with allocated coal blocks, the tremors will be felt on state governments as well, the agency added.

CCI rejects allegations against Orchid, TDI: Report 26/09/2014

CCI rejects allegations against Orchid, TDI: Report
26/09/2014 00:41
The Competition Commission has rejected complaints of unfair trade practices against realty players Orchid Infrastructure Developers and TDI Infrastructure, reported PTI. THe allegations of anti-competitive practices were in respect to realty projects in Haryana. Haryana's Department of Town and Country Planning and Urban Development Authority were named in the complaints that were filed separately. In its order, Competition Commission of India (CCI) said that Orchid Infrastructure Developers does not appear to be in a dominant position in the relevant market and hence there seems to be no question of abuse of dominance. The informant is a buyer of a residential unit at the developer's 'Orchid Island' in Gurgaon. "... There are many other large real estate developers such as DLF, Anantraj Group, Earth Infrastructure Group etc, operating in the relevant market. "The presence of other renowned builders in the relevant market reiterates that the Informant was not dependent on the Opposite Party No 1 (Orchid Infrastructure Developers) for booking a residential unit in Gurgaon," the order dated September 24 said. In the case of TDI Infrastructure, the informants were purchasers of residential plots at the company's township project at Kundli in Sonepat. CCI said that TDI Infrastructure does not appear to be in a dominant position in the relevant market. "In the absence of dominance of the Opposite Party No 1 (TDI Infrastructure) in the relevant market, its conduct cannot be examined under the provisions of ... Of the (Competition) Act," the regulator said in another order dated September 24.

Sensex up 65 points; Sun Pharma, TCS support 29/09/2014

Sensex up 65 points; Sun Pharma, TCS support
29/09/2014 14:21
Markets continued to trade in range as investors remained cautious ahead of RBI policy review. The Sensex was up by 65 points at 26691.91, while the Nifty was up 11.65 points at 7980.5. The major laggards on the D-street included Tata Steel, ITC, Coal India, Bajaj Auto, SSLT and Tata Power among others. On the global front, Asian markets remained volatile following political unrest in Hong Kong, the worst since China took control 20 years ago. Japanese shares firmed up 0.5 per cent led by exporters' shares following the weakness in the yen. Shanghai Composite was up 0.5 per cent while shares in Hong Kong witnessed selling pressure with the Hang Seng down nearly 2 per cent.

At 2:07PM BSE SENSEX was at 26691.91, up by 65.59 points or by 0.25 per cent, while the NSE Nifty was at 7980.5, up by 11.65 points or by 0.15 per cent.

Markets trade in a range; ITC, Tata Steel weigh 29/09/2014

Markets trade in a range; ITC, Tata Steel weigh
29/09/2014 13:38
The markets continued their rangebound trade during the noon session of trade. The 30-share benchmark index was marginally up by 3 points whereas Nifty was down 10 points. The major laggards on the D-street included Tata Steel, ITC, Coal India, Bajaj Auto, SSLT and Tata Power among others. On the global front, Asian markets remained volatile following political unrest in Hong Kong, the worst since China took control 20 years ago. Japanese shares firmed up 0.5 per cent led by exporters' shares following the weakness in the yen. Shanghai Composite was up 0.5 per cent while shares in Hong Kong witnessed selling pressure with the Hang Seng down nearly 2 per cent.

At 1:19PM BSE SENSEX was at 26629.63, up by 3.31 points or by 0.01 per cent, while the NSE Nifty was at 7979, up by 10.15 points or by 0.13 per cent.

Mid-Session: Sensex up over 30 points; Pharma sector surges 2% 29/09/2014

Mid-Session: Sensex up over 30 points; Pharma sector surges 2%
29/09/2014 12:53
The markets continue to trade in the positive territory during the afternoon session, led by gains in Health Care index followed by IT and Consumer Durables. Among the individual stocks Sun Pharmaceutical Industries, Tata Consultancy, Bharat Heavy Electricals Infosys, GAIL (India) was among the notable gainers. Pharma shares surges. Sun Pharma is the biggest gainer with a surge of 3.5 per cent as apprehensions of an import alert on its Halol plant have largely diminished now.

At 12:31 hour, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 26658.18 up by 31.86 points or by 0.12 % and then NSE Nifty was at 7969 up by 0.15 points or by 0 %.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2795, shares advanced were 1804 while 903 shares declined and 88 were unchanged.

The BSE MIDCAP was at 9517.9 up by 96.5 points or by 1.02 %, while the BSE SMLCAP was at 10681.65 up by 170.66 points or by 1.62 %.

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 835.30,+3.49%), Tata Consultancy Services Ltd. (Rs. 2751.55,+2.56%), Bharat Heavy Electricals Ltd. (Rs. 209.25,+1.95%), Infosys Ltd. (Rs. 3742.00,+1.65%), GAIL (India) Ltd. (Rs. 448.90,+1.21%), among others.

Meanwhile, the top losers of the BSE Sensex pack were Hindalco Industries Ltd. (Rs. 154.65,-1.75%), Coal India Ltd. (Rs. 343.25,-1.36%), Tata Steel Ltd. (Rs. 468.05,-1.30%), ITC Ltd. (Rs. 367.50,-1.14%), Hindustan Unilever Ltd. (Rs. 744.00,-1.09%), among others.

Among the thirteen sectoral indices on BSE, BSE HCS index was at 14175.72 up by 319.87 points or by 2.31%. Strides Arcolab Ltd. (Rs. 690.85,+7.48%), Aurobindo Pharma Ltd. (Rs. 931.00,+5.68%), Glenmark Pharmaceuticals Ltd. (Rs. 725.00,+5.26%), Ranbaxy Laboratories Ltd. (Rs. 626.75,+3.96%), Sun Pharmaceutical Industries Ltd. (Rs. 835.30,+3.49%),.

In BSE, BSE Metal index was at 11514.58 down by -134.68 points or by -1.16%. Jindal Steel & Power Ltd. (Rs. 179.00,-2.69%), Hindalco Industries Ltd. (Rs. 154.65,-1.75%), Coal India Ltd. (Rs. 343.25,-1.36%), Tata Steel Ltd. (Rs. 468.05,-1.30%), Hindustan Zinc Ltd. (Rs. 161.50,-1.28%),.

Sensex opens higher, led by Healthcare stocks 29/09/2014

Sensex opens higher, led by Healthcare stocks
29/09/2014 09:39
The Indian benchmark was trading in green in the morning session of day’s trade. Healthcare sector stocks were on the rise with Aurobindo Pharma leading the pack followed by Strides Arcolab, Ranbaxy Laboratories, Sun Pharmaceutical Industries and Glenmark Pharmaceuticals. At 9:37AM BSE SENSEX was at 26654.52 up by 28.2 points or by 0.11 per cent and then NSE Nifty was at 7942.8 down by -26.05 points or by -0.33 per cent.

The BSE MIDCAP was at 9507.63 up by 86.23 points or by 0.92 per cent. while the BSE SMLCAP was at 10666.54 up by 155.55 points or by 1.48 per cent

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1645 , shares advanced were 1226 while 369 shares declined and 50 were unchanged

The top gainers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 824.50,+2.16 per cent), Bharat Heavy Electricals Ltd. (Rs. 208.90,+1.78 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3263.80,+1.13 per cent), Cipla Ltd. (Rs. 618.15,+1.09 per cent), Reliance Industries Ltd. (Rs. 940.45,+0.73 per cent), among others.

The top losers of the BSE Sensex pack were Coal India Ltd. (Rs. 344.50,-1.01 per cent), Bharti Airtel Ltd. (Rs. 401.00,-1.00 per cent), Tata Power Company Ltd. (Rs. 83.70,-0.71 per cent), Mahindra & Mahindra Ltd. (Rs. 1383.80,-0.71 per cent), ICICI Bank Ltd. (Rs. 1468.00,-0.68 per cent), among others.

The top gainers of the NSE Nifty pack were Sun Pharmaceutical Industries Ltd. (Rs. 821.35,+1.83 per cent), Dr. Reddy's Laboratories Ltd. (Rs. 3256.05,+1.04 per cent), Tata Steel Ltd. (Rs. 475.55,+0.27 per cent), Bank of Baroda (Rs. 899.20,+0.27 per cent), Bharat Heavy Electricals Ltd. (Rs. 205.90,+0.27 per cent), among others.

The top losers of the NSE Nifty pack were Jindal Steel & Power Ltd. (Rs. 180.90,-1.66 per cent), Hindalco Industries Ltd. (Rs. 154.70,-1.62 per cent), Coal India Ltd. (Rs. 343.00,-1.47 per cent), Cairn India Ltd. (Rs. 306.95,-1.46 per cent), NMDC Ltd. (Rs. 164.35,-1.38 per cent), among others.

Among the sectoral indices on BSE, BSE_HCS index was at 14086.83 up by 230.98 points or by 1.67 per cent. Aurobindo Pharma Ltd. (Rs. 923.80,+4.86 per cent), Strides Arcolab Ltd. (Rs. 669.50,+4.15 per cent), Ranbaxy Laboratories Ltd. (Rs. 617.70,+2.45 per cent), Sun Pharmaceutical Industries Ltd. (Rs. 824.50,+2.16 per cent), Glenmark Pharmaceuticals Ltd. (Rs. 700.35,+1.68 per cent)

Pre Session- Sensex to open higher on Asia trend 29/09/2014

Pre Session- Sensex to open higher on Asia trend
29/09/2014 08:33
The key domestic benchmarks are likely to open higher today tracking a positive trend in Asian markets as investors’ cheered robust Q2 US GDP data which showed that the world’s biggest economy grew at the fastest clip since Q4 2011 last quarter, boosting the appetite for risky assets. US economy grew at annualized rate of 4.6 per cent in the April-June quarter of 2014 from the previous quarter, up from a prior estimate of annualized 4.2 per cent expansion. China’s Shanghai Composite rose ahead of tomorrow’s manufacturing PMI which may show a pickup in factory growth. Hang Seng tumbled amid a political crackdown on protestors. Japan’s Nikkei 225 rose as a weaker yen boosted the appeal of exporter stocks. Back home, caution ahead of the RBI policy meet tomorrow where the central bank is expected to maintain status quo on interest rates, may trim gains in the Sensex. Investors will also be eying the Prime Minister Narendra Modi’s US visit aimed at improving strategic ties between the two nations amid a drive to boost foreign investment. RBI policy meet, Modi’s US visit and global cues will drive the Sensex in the holiday-shortened week with markets closed on Thursday and Friday on the occasion of Mahatma Gandhi Jayanthi and Dussehra respectively.

Top traded Volumes on NSE Nifty – Hindalco Industries Ltd. 13351556.00, Jindal Steel & Power Ltd. 12813197.00, Sun Pharmaceutical Industries Ltd. 10008066.00, IDFC Ltd. 7563712.00 and DLF Ltd. 7278970.00.