MARUTI'S NET UP BY 21%, STOCK DOWN RS 30

Maruti has reported a 21 percent  increase in net profit at Rs 762 crore in April-June quarter of current financial year led by volume growth and higher other income. 

The company's cost reduction and localisation initiatives, growth in volumes and favourable foreign exchange helped improve the bottomline during the quarter.

Revenue grew by 11 percent to Rs 11,369 crore in the quarter ended June 2014 compared to Rs 10,237 crore in corresponding quarter of last fiscal supported by sales volumes growth of 12.6 percent.

However the stock lost Rs 30, after the results were announced.

FITCH MAINTAINS STABLE OUT LOOK FOR INDIA

Fitch Ratings  has retained the 'BBB-' sovereign rating - the lowest investment grade - on India and a revision will depend on the government's efforts to usher in bold reforms.

The agency has also retained 'stable' outlook for the country's ratings.

ICICI BANK'S STAND ALONE NET AT RS 2655 CR

ICICI  Bank has posted a net profit of Rs. 2655 crores for the quarter ended June 30, 2014 as compared to Rs. 2274 crores for the quarter ended June 30, 2013. Total Income has increased from Rs. 12904 crores for the quarter ended June 30, 2013 to Rs. 14616 crores for the quarter ended June 30, 2014.

SBI Q1FY 15 RESULTS

State Bank of India will be announcing its first quarter results on August 08, 2014.

HCL TECHNOLOGIES - FY 14 RESULTS

HCL Technologies Ltd has announced the following results for the quarter & year ended June 30, 2014:

For the Quarter ended June 30, 2014

The Company has posted a net profit of Rs 19832.40 million for the quarter ended June 30, 2014 as compared to Rs 14472.10 million for the quarter ended June 30, 2013. Total Income has increased from Rs 42857.00 million for the quarter ended June 30, 2013 to Rs 50067.10 million for the quarter ended June 30, 2014.

For the Year ended June 30, 2014

The Company has posted a net profit of Rs 59846.20 million for the year ended June 30, 2014 as compared to Rs 37047.20 million for the year ended June 30, 2013. Total Income has increased from Rs 128363.30 million for the year ended June 30, 2013 to Rs 171564.90 million for the year ended June 30, 2014.

The Consolidated audited results for the year ended June 30, 2014:

The Group has posted a net profit of Rs 65095.10 million for the year ended June 30, 2014 as compared to Rs 40400.90 million for the year ended June 30, 2013. Total Income has increased from Rs 258876.70 million for the year ended June 30, 2013 to Rs 328210.60 million for the year ended June 30, 2014.

LIC UPS STAKE IN ITC

LIC has increased its stake to 14.42%, in ITC, buying 4.39 crore shares in the three months ended June. 

SAMSUNG OPERATING PROFITS DOWN IN Q2

Samsung Electronics has reported a 25 per cent fall in second-quarter operating profit, in line with guidance, due to disappointing returns from its smartphone business. 

The world's biggest smartphone maker reported an April-June operating profit of $7.03 billion. 

TECH, OIL&GAS AND INFRA STOCKS TO SHINE

NIFTY may close above 7830 level today, the last of F&O expiry for the month. The rally is expected to be led by oil &gas, tech and infra stocks, among others. After yesterday's drubbing L&T is expected to gain grounds in today's trade. Similarly tech stocks- Infy, TCS, Wipro and HCL Tech may advance further. RIL and ONGC stocks, due to covering of short positions may stay in positive territory. NIFTY may breach 7830 level by close.

S S MUNDRA IS DEPUTY GOVERNOR OF RBI

The government has appointed S S Mundra, chairman and managing director of Bank of Baroda as the deputy governor of the Reserve Bank of India.

Mundra assumed the charge as Chairman and Managing Director of Bank of Baroda in January, 2013. Prior to his elevation as Chairman and Managing Director of Bank of Baroda, he was the Executive Director of Union Bank of India.

NIFTY TOP GAINERS

Gainers
Symbol	LTP	% chng	Volume
LUPIN BHARTIARTL PNB DLF KOTAKBANK	1,180.00 373.30 981.00 200.70 970.80	5.48 5.47 4.38 3.27 3.14	21,27,298 1,12,40,864 11,73,964 1,08,29,360 10,30,461

LUPIN POSTS STELLAR PERFORMANCE IN Q1

Lupin has recorded excellent performance in the first quarter of FY15. The company has posted a profit after taxes of Rs. 625 crores for the quarter ended June 30, 2014 as compared to Rs. 401 crores for the quarter ended June 30, 2013. Total Income has increased from Rs. 2577 crores for the quarter ended June 30, 2013 to Rs. 3370 crorres for the quarter ended June 30, 2014.

The stock has gained around 6% at this time and trading at Rs 1187.

BHARAT FORGE'S Q1 NET AT RS 145 CR

Bharat Forge has posted a net profit of Rs 145 crore for the first quarter of FY15 as against Rs 91 crore reported in March- June 2013. EPS for the quarter stood Rs 6.83 per share as against Rs 3.89 reported in the same quarter last year. Total revenue for the quarter is at Rs 988 crores as against Rs 7928 crores. The stock is trading at Rs 711, as of now, up 1%.

IIFL TRADES FLAT AHEAD OF ITS RESULT

IIFL will announce its first quarter results today. The stock is trading flat at Rs 126.

L&T DOWN 6%, BUY AT CMP

L&T is down 6% in the early trade as the Q1 results are market expectations. However we have a different opinion. Under the given circumstances L&T has done very well. Sentiments, more than fundamentals is pulling down the stock. It should recover by close and we have buy  recommendations on L&T at CMP( Rs 1546).  The stock will provide decent appreciation in 3-6 months time.

2025 : TATA GROUP AIMS FOR WORLD'S TOP 25

Tata group plans to invest USD 35 billion in the next three years as part of its vision 2025 by when it expects to achieve market capitalisation comparable to the world's top 25 companies.

MARKETS TO OPEN ON STRONG NOTE

After two days of negative trend stock markets are expected to open on strong note. Results announced by ITC, SSLT, Bharti Airtel and L&T are in tune with / more than what market expected and these stocks are likely to support the indices in moving upwards.

FUTURE RETAIL : RS 1600 RIGHTS ISSUE ON CARDS

Future Retail has filed initial papers with SEBI to raise up to Rs 1,600 crore through a rights issue. As per the draft letter of offer, the company would issue certain classes of shares to its public shareholders on a rights basis.

BHARTI AIRTEL'S Q1 FY 15 CONSOLIDATED NET UP BY 61%

Bharti Airtel's consolidated net stood at Rs 1108 crores for the quarter ended June 30, 2014 as compared to Rs. 689 crores for the quarter ended June 30, 2013. Total Income has increased from Rs 20299 crores for the quarter ended June 30, 2013 to Rs 23005 crores for the quarter ended June 30, 2014.

RANBAXY'S NET LOSS AT RS 186 CRORE

Ranbaxy's consolidated net loss for the March -June quarter stood at Rs 186 crores as compared to Net Loss of Rs. 524 for the quarter ended June 30, 2013. Total Income has decreased from Rs 2669 crores for the quarter ended June 30, 2013 to Rs 2451 crores for the quarter ended June 30, 2014.

SSLT CONSOLIDATED NET AT RS 376 CRORE

SSLT for quarter ended June 30 2014  has posted a  profit  Rs. 376 crores as against Rs. 414 crores profit for the quarter ended June 30, 2013. Total Income is Rs. 18466 crores for the quarter ended June 30, 2014 where as the same was at Rs. 384 crores for the quarter ended June 30, 2013.

The Scheme of Amalgamation and Arrangement amongst Sterlite Energy Limited , Sterlite Industries (India) Limited , Vedanta Aluminium Limited , Ekaterina Limited , Madras Aluminium Company Limited  and the Company (the "Scheme") has been sanctioned by the Honourable High Court of Madras and the High Court of Judicature of Bombay at Goa. The Scheme has been given effect to in the quarter ended September 30, 2013. Consequent to the effectiveness of the Scheme as above, the results for the quarter and the figures in respect of earnings per share, are not comparable with previous corresponding period.

ITC Q1 FY 15 RESULTS

ITC has posted a net profit of Rs. 2186 crores for the quarter ended June 30, 2014 where as the same was at  Rs. 1891 crores for the quarter ended June 30, 2013. Total Income is Rs. 9482 crores for the quarter ended June 30, 2014  as against Rs. 7613 crores for the quarter ended June 30, 2013.

UBS : FIIs CAN STILL BUY AROUND $ 135 BILLIONS OF STOCKS

Foreign investors have been buyers in Indian equity for every month for almost a year now but their quantum is not yet outsized and they can still buy around USD 135 billion of stocks in the wide-based benchmark index Nifty, according to an  UBS research report.

KARVY STOCK BROKING VS SEBI - NEXT HEARING ON 11-09-2014

SAT will take up the case of KARVY Stock Broking vs SEBI on 11-09-2014.

NSE NEWS: MOCK TRADING ON 02-08-2014

NSE will be conducting a Mock trading  session in the Futures & Options Segment on Saturday, August 02, 2014 as per the following schedule:

Saturday, August 02, 2014 Time

Normal Market open time 10:15 hrs.

Normal Market close time 15:30 hrs.

Position Limit/Collateral value Set up cut off time 15:40 hrs.

Trade modification end time 15:40 hrs.

Live Re-login start time 17:30 hrs.

Live Re-login close time 18:00 hrs.

UNWINDING OF POSITIONS DRAGS INDICES

Sensex lost 135 and NIFTY 42 points due to unwinding of long positions ahead of F&O expiry. Both FIIs and DIIs have net bought in cash market amounting to Rs 131 crores. Cement, infra, metal, power and realty stocks were subdued due coal shortage problems in the months to come.  Regular and uninterrupted supply of coal has direct bearing the above segments. HUL posted stellar numbers and gained Rs 22 in today's trade. Tech stocks too were in lime light. Select bank and pharma stocks attracted buyers at lower levels. 

LARSEN & TOUBRO'S Q1 FY15 NET AT RS 967 CR

Larsen & Toubro has posted a net profit (consolidated) of profit  Rs. 967 crores for the quarter ended June 30, 2014 as compared to Rs. 459 crores for the quarter ended June 30, 2013. Total Income has increased from Rs. 17504 crores for the quarter ended June 30, 2013 to Rs. 19252 crores for the quarter ended June 30, 2014. EPS for the quarter stood at Rs 10.40.

HUL'S NET MARGINALLY UP

HUL has posted a net profit of Rs. 1057 crores for the quarter ended June 30, 2014 as compared to Rs. 1019 crores the quarter ended June 30, 2013.  The total Income has increased from Rs. 6985 crores for the quarter ended June 30, 2013 to Rs. 7918 crores for the quarter ended June 30, 2014.

The stock is up Rs 19 and trading around Rs 682, where as the Sensex is down 180 points as of now.

BOB POSTS DECENT NUMBERS IN Q1, STOCK UP RS 10

BOB has reported a 17% increase in net in the first quarter of FY15, compared to the same period last year.  Net profit stood at Rs 1362 crores as against Rs 1168 in March -June 2103.

The stock is up Rs 10 and  trading around Rs 872 as of now.

BHARTI ADDS 10 CRORE SUBSCRIBERS IN LAST 2 YEARS

Bharti Airtel's subscriber base across mobile, fixed line and DTH services has crossed 30 crores, with the company garnering the latest 10 crores in less than two years.

SENSEX OPENS FLAT, SUN SBI, INFY, HERO AND M&M UP 1% EACH

Sensex opened flat with negative bias. SBI,INFY, Hero MotoCorp, M&M and Sunpharma are up 1% each in the morning trade. HUL,TCS, Coal India and Tata Motors have lost one percent each.

IRDA : LIC STANDS TALL IN DOING ETHICAL LIFE INSURANCE BUSINESS.

HDFC Standard Life, Birla SunLife and Reliance Life top the chart of unfair business practices among two dozen life insurance companies, as per IRDA.

As per IRDA 10,819 complaints were filed by consumers against HDFC Standard life during April 1-July 20, 2014.

These complaints relate to alleged "selling of (life insurance) policies by making false lucrative offers".

The data further revealed that 6,185 complaints were received against Birla Sun Life, followed by 6,168 against Reliance Life during the period.

The track record of country's largest insurer LIC was much better as compared to private counterparts. There were only 763 complaints against Life Insurance Corporation (LIC), though it has over 80 per cent of market share.

Among the major private players, ICICI Prudential Life has a comparatively better record compared to its peers with 3,649 complaints.

WIPRO TO INVEST RS 500 CR FOR VISAKHAPATNA CENTER

Wipro plans to expand its operations in coastal city of Visakhapatnam in Andhra Pradesh with an investment of Rs 500 crore. The SEZ will come up on three acres of land. 

The facility comprising five lakh square feet will create an employment of 6,400 over next five years.

The Andhra Pradesh government has given in principle approval for this project.

MORGAN STANLEY MAINTAINS STABLE RATINGS FOR INDIA

Morgan Stanley says that India's Sovereign credit rating is expected to remain stable over the next 12-month period.

MS expects India's Sovereign Rating to remain stable in the next 12 months period. Decisive and timely action by the government to reduce the fiscal deficit through lower expenditure, moderate rural wage growth in line with productivity, and reduced energy subsidies would be needed to trigger an upgrade.

WIPRO : UBS AND PRABHUDAS LILLADHER RECOMMENDS BUYING

UBS and Prabhudas Lilladher have recommended  a 'buy' rating on the stock. UBS has a target price of Rs 635, while Prabhudas Lilladher has a 12-month target price of Rs 680, which translates into an upside of nearly 23 per cent from Friday's closing price of Rs 550.35.

According to them growth momentum in H2FY15 on the back of large deal wins. Moreover, return of discretionary spend in the US and outsourcing penetration in Continental Europe make demand outlook healthier. 

SUN PHARMA'S SHARE PRICE DEFIES LOGIC

Sunpharma has risen 25% in the last one month. Now it is trading at 50 PE and 11 times its book value (CMP Rs 783). Soon it will be merging Ranbaxy with self. It will face merger and integration related problems. Defying all these the stock is galloping. One reason could be the low floating stock. Promoters hold 64%, Institutions 28% and the rest 8% with the public / others.   What is more interesting is the stock does not see any selling pressure even when the overall market sentiment is negative and when most index stocks move towards south. Sometimes fundamentals, technicals and logic wont work in the stock market. One only hopes every thing is alright with Sunpharma.

VODAFONE'S REVENUE UP BY 10%

Vodafone has reported an increase of about 10 per cent in its services revenue at Rs 10,323 crore in first quarter ended June.

The company's total customer base stood at 17 crore, as on 30-06-2014.

As of June 30, active Internet customers of Vodafone India stood at 57 million, including 10 million 3G customers and 29 million smartphone users.

RBI PENALISES 12 LEADING BANKS FOR LAXITY

RBI has penalized 12 banks for laxity in handling the loan account of defaulted Deccan Chronicle Holdings. The banks are ICICI Bank , Axis Bank , Canara Bank , IDBI Bank ,  Yes Bank ,  Andhra, Corporation, Indussind, Kotak Mahindra, SBH, HDFC and Ratnakar bank.

The penalty ranges from Rs 5lacs to Rs 1.5 crore.

Riddhi Siddhi Gluco Biols files papers for buy back

Riddhi Siddhi Gluco Biols has filed papers with SEBI for buy back of 23,69, 575 equity shares at a price of Rs 450, on proportionate basis. 

INFRA LENDING : ICICI BANK MAY RAISE RS 500 CRORE

ICICI Bank   may raise Rs 500 by issuing 10 year bonds. As per the new RBI guidelines money so raised for are exempt from maintaining mandatory reserves. The coupon rate could be around 9 percent.

SUN PHARMA MAY OVER TAKE HDFC

Sunpharma closed at Rs 780, up 4.24 percent in today's trade. The market cap of the company stood at Rs 1.61 lac crore. HDFC closed at Rs 1064, which gave the stock market cap of Rs 1.67 lac crore and it is the 10th most valued company on the Indian bourses, as on date.

In the last one month Sunpharma has gained 25%, where as HDFC has gained less than 7%. The speed at which Sunpharma is moving, it may replace HDFC as the 10th most valued company, in the next few trading sessions.

ITC MAY REPORT RS 2400 CR NET FOR Q1, FY15

ITC will announce its Q1 FY15 results on July 29, 2014. The company may report net profit around Rs 2400 crore.

HERO MOTOCORP FY 15 Q1 RESULTS

Hero MotoCorp will announce its Q1 FY15 results on 05-08-2014.

STOCK WATCH : BUY WIPRO AT CMP RS 548

Wipro has fallen 5 odd percent as its first quarter numbers were below the market expectations. Traditionally Wipro's Q1 numbers are subdued. The performance otherwise is satisfactory. The stock should reach the level of Rs 600 before the second quarter results are out. One can accumulate Wipro at CMP.

THIS IS WHAT WE WROTE ON FACE BOOK ON 13-08-2012

BUY FACEBOOK AT $20 A SHARE 

Facebook IPO was irrationally priced at $38 a share. The fair value would have been around $20 a share. FB made a disastrous debut in the exchange and losing ground continuously. There are investors, IPO and open market who have put in money at $38 a share waiting for an opportunity to exit. They may exit eventually at a loss. That may put the stock under pressure further. That time would be ideal time to invest in FB stock and wait for 3-4 quarter results.  Facebook is profitable, it keeps its nearly one billion users logged in every day and stays there longer than in any other Internet site. FB is aggressively experimenting with new ways to drum up advertising — its main source of revenue. FB may also open up its site to on line gaming in countries where it is legally permitted. Around $20 a share, down ward risk is limited. One can invest for short to medium term, for decent returns.

Facebook is now trading around $ 76 a piece. It has appreciated 380%in two years.

ITC IS SET TO REVAMP RURAL REACH

ITC is revitalizing its distribution strategy for fast moving consumer goods with a greater focus on supplying products directly to retailers. This involves an ambitious target of directly reaching out to one lakh villages which account for 80% of India's rural consumer goods consumption. 

AMAZON'S LOSS WIDENS

Amazon has reported a loss of $126 millions in the second quarter as against $7 million net loss in the year-ago period.

Total revenues for the quarter stood at $19.34 billions.

.

ADANI GROUP UNDER CBI SCANNER

CBI has registered a Preliminary Enquiry  against Adani Group. DRI is investigating charges of overvaluation and evasion of customs duty. The DRI has been investigating into 3 group companies since 2010. The companies under the DRI radar are  Adani Power Maharashtra, Adani Power Rajasthan, Maharashtra Eastern Grid Power Transmission Company. 

SKS MICRO'S REVENUE UP BY 30%

SKS Microfinance  for the first quarter of FY 15 has reported an revenue of Rs 152 crore, an increase of 30% on YoY basis.  The company's net stood at Rs 49 crore, compared to Rs 4.96 crore in the corresponding quarter of previous year.

SEBI TO GET MORE TEETH

A Bill to effectively empower the market regulator Sebi to crack down on ponzi schemes and investment frauds was approved by the Cabinet today.

WIPRO BEATS ESTIMATES

Wipro, like TCS has beaten the analysts estimates. The company reported a 29.5 per cent growth in its consolidated net profit at Rs 2,103.2 crore for April-June period, helped by large deals in the application and infrastructure space.

Wipro had reported a net profit of Rs 1,623.3 crore in the year-ago period.

Consolidated net sales rose by 15.5 per cent to Rs 11,245.5 crore in April-June quarter of the current fiscal from Rs 9,733.2 crore in the same quarter of 2013-14.

TOP TEN MARKET CAP, INFY AT 7

Company Name	CMP		Market Cap (Rs. Cr)
TCS		2,591	507,506
ONGC		404	345,727
Reliance		1,038	335,671
ITC		356	283,584
Coal India		385	243,653
HDFC Bank		842	202,996
Infosys		3,374	193,801
SBI		2,552	190,577
ICICI Bank		1,501	173,595
HDFC		1,034	162,100

HINDALCO Q1 RESULTS

Hindalco Industries will announce its Q1 results on 01-08-2014.

KFA IS LIKELY TO JOIN THE WILLFUL DEFAULTERS LIST.

KFA which owes around Rs 4000 crores to various banks, including SBI is close to be declared as a willful defaulter, according to sources in the banking circle. The process involves uncovering diversion of funds by borrowers, something which was detected by Ernst & Young during its forensic audit of Kingfisher Airlines.

CAIRN TANKS 5% ON POOR NUMBERS, CORPORATE GOVERNANCE

Cairn India which reported poor numbers for Q1 of FY15 has lost around 55 in the opening trade. More than the results what is seen as negative to the stock is the corporate loan ($1.20 billions) extended by the company to a Vedanta group entity. The stock as of now trading around Rs 330, down Rs 15. 

HSBC : CHINA'S MANUFACTURING PMI AT 18 MONTHS HIGH

China's factory activity expanded at its fastest pace in 18 months in July as new orders surged,  according to preliminary HSBC survey. The latest indication is that the economy is picking up as government stimulus measures kick in.

The HSBC/Markit Flash China Manufacturing Purchasing Managers' Index rose to 52.0 in July from June's final reading of 50.7.

This is good news for Indian metal stocks, which are expected to gain momentum in the bourses today.

MARKETS MAY LOSE SOME SHINE BY CLOSE

Stock markets are expected to open firm but may close in red by close. Profit booking and unwinding of positions ahead of F&O expiry may weigh heavily in today's trade.

CAIRN INDIA'S NET DROPS

Cairn India has reported a 65 per cent drop in its first quarter net profit after booking a one-time depreciation charge on new accounting rules. Revenues were up by 10 per cent to Rs 4,483 crore.

Net profit in April-June quarter fell 65 per cent to Rs 1,093 crore, from Rs 3,127 crore, in the same period a year ago.

The drop in net profit is primarily due to change in method of depreciation from Straight line method to Unit of production . Cairn booked a charge of Rs 1,627.39 crore for change in the way depreciation of oil and gas assets is calculated.

WORLD BANK GROUP TO PUMP $ 18 BILLIONS TO INDIAN ECONOMY

The World Bank Group today committed $18 billion loan to India over the next three years as it supports the country's potential 9 per cent growth rate.

CITI : INDIA WILL OUT PERFORM

Citigroup research reports says Foreign investors are bullish on India with likely boost in economic growth coupled with lower inflation and current account deficit and expecting the country to outperform other emerging markets.

WORLD BANK CHIEF BATS GUJARAT MODEL OF GOVERNENCE

India will be a far easier place to do business if the country adopted the practices and processes that Gujarat follows,  says World Bank's president, in what could be seen a thumbs up for Prime Minister Narendra Modi’s much-touted Gujarat model of governance.

World Bank group president Jim Yong Kim, who is on a three-day visit to India, said that India can leap-frog at least 50 notches from its current 134th position in the bank’s Ease of Doing Business survey if all states followed the Gujarat model.

FB'S REVENUE, NET SOARS

Facebook has reported a net income of $791 million, up from $333 million, a year earlier. Revenue rose to $2.91 billion from $1.81 billion. The stock closed at $75.24, up 5.54 percent.

Revenue increased 61% as advertisers continued to pour money into the social network's deep well of users and unparalleled stockpile of personal information. This is especially the case on mobile devices, where users are gravitating in large numbers. Mobile-advertising accounted for 62% of advertising revenue in the quarter, up from 59% in the first quarter and 30% a year ago.

The company now has 1.32 billion active users every month, up 14% on last year.

Of those users more than a billion are on mobile devices.

MARKET CAP OF TCS IS MORE THAN THAT OF INFY, WIPRO, HCL TECH, TECH MAHI, MINDTREE AND CMC

 The market cap of TCS is at Rs 5.06 lac crore, based on the today's closing price of Rs 2580. The combined market cap of Infy (1.92), Wipro (1.40),HCL Tech (1.08), Tech Mahindra (0.50), MindTree ((0.08) and CMC (0.06) comes to Rs 5.04 lac crores, which lesser than that of TCS.

NIFTY : TOP GAINERS / LOSERS

GAINERS

Symbol	LTP	% chng	Volume
BPCL INFY BOB HINDALCO WIPRO	605.75 3,345.30 856.55 193.25 570.50	3.95 3.45 2.95 2.66 2.10	12,10,061 14,78,417 22,46,548 1,69,08,175 22,32,380

Losers
Symbol	LTP	% chng	Volume
AMBUJA CEM ULTRA CEMCO ACC IDFC GRASIM	216.00 2,449.95 1,454.15 157.70 3,334.00	-3.18 -2.80 -2.34 -2.14 -1.77	19,94,396 3,10,668 1,56,358 96,10,494 80,124

HONDA LAUNCHES MOBILIO

Honda Cars India  has launched its multiutility vehicle Mobilio at Rs. 6.49 lakh on-wards.

Petrol version ranges from Rs. 6.49 lakh to Rs. 8.76 lakh while the diesel variants range from Rs. 7.89 lakh to Rs. 10.86 lakh.

CREDIT SUISSE : INDIA WILL OUT PERFORM

Credit Suisse says that the Indian market has been driven by improving risk appetite globally as well as a bottoming out of growth, and not just the change in government. Thus, while some in the market may be disappointed by the pace of change driven by the new government, the broader market is likely to still do well.

  
The brokerage is of the view that the India will be able to sustain its premium valuations (vis-à-vis other EMs), irrespective of the pace of economic reforms, which has been one of the driving forces.

JSW ENERGY'S NET UP BY 52 PERCENT

The consolidated net profit of JSW energy for the first quarter stood at Rs. 325 crores as compared to Rs. 214 crores for the quarter ended June 30, 2013. Total Income has increased from Rs. 2517 crores for the quarter ended June 30, 2013 to Rs. 2600 crores for the quarter ended June 30, 2014.

BENCH MARK INDICES SLIPS INTO RED

Benchmark indices - NIFTY and Sensex are trading in negative territory. Cement, pharma, bank and oil&gas stocks have dragged the indices from day's high to the low point. Profit booking at higher level has also contributed to the indices coming down. Tech stocks - Infy and TCS have gained more than 1 percent with decent volumes.

VIBGYOR SCHOOL CHAIRMAN ARRESTED

Police have arrested the chairman of Vibgyor school, Sri Rustom Kerrawala, in Bangalore, where a 6-year-old girl was allegedly raped earlier this month by the school's skating instructor. 

RIL BATS FOR HIGHER GAS PRICE

Reliance Industries has informed the petroleum ministry that the new price of $8.4 a unit for gas is not the right price and was “well below the arm’s length price.” The company has also sought a price correction from 2012, thereby rejecting wholesale the $4.2 per unit being paid to it for the past five years.

TCS'S MARKET CAP @ RS 5 LAC CRORE

Market cap of tech major TCS has touched Rs 5 lac crore. The stock is as of now trading around Rs 2556.

NIFTY TOUCHES 7800, BANK STOCKS SURGE

BANK BARODA ICICIBANK PNB INFY HINDALCO

863.65 1,508.85 935.80 3,286.05 190.90

3.80 1.73 1.67 1.62 1.41

4,12,205 4,61,759 1,23,183 1,80,341 23,05,412

(prices above as at 9.39 a.m.)

NIFTY touched 7800 level in the early trade aided by surge in bank and tech stocks.

ICICI DIRECT BULLISH ON ULTRA TECH, TARGET RS 2700

ICICI direct.com has set a target of Rs 2700 on Ultra Tech. It says UltraTech’s Q1FY15 numbers came in lower than our estimates at the PAT level mainly on account of low operating margins. While sales volumes reported healthy growth of 15.8% YoY, realisation declined 1.5% YoY to Rs 4725/tonne, which resulted in 14% growth in topline to Rs 5649.5 crore, in line with our expectations. Q1FY15 sales also include 18 days sales from the recently acquired Jaypee Cement plant. Low realisation and high cost pressure (power & freight) led to a fall in EBITDA, which declined 17% YoY to Rs 843/tonne on a per tonne basis. Operating margins were down 332 bps YoY to 17.8 %. With low margins and high interest cost (up 51.8% YoY to Rs 100.2 crore), net profit declined 7% YoY to Rs 625.6 crore. 


Being a net debt free company, UltraTech is well positioned to reap the benefit of a recovery in demand and generate healthy free cash flows in future. The stock is currently trading at 15.5x and 12.1x EV/EBITDA for FY15E and FY16E, respectively, against last four year’s average valuations of 14.0x. They value the stock at 13.0x its FY16E thereby arriving at a target price of Rs 2700. With limited upside, they maintain their HOLD recommendation on the stock. UltraTech remains our preferred pick among large cap cement stocks, which can be accumulated on declines.

RBI TO ANNOUNCE TOO BIG TO FAIL BANKS LIST SOON

The RBI has set out a framework for identifying and dealing with large banks, termed domestic systemically important banks or D-SIBs.

A size beyond 2 per cent of GDP will be one of the criteria for designating a bank as a D-SIB and it will be subject to higher capital requirements. RBI will soon come out with a too big to fail list soon.

BANK STOCKS TO RALLY

Bank stocks are likely to rally in today's trade in view of the two important developments that has taken place over night. First one is RBI has relaxed the norms financing against gold by removing the cap. Secondly the finance ministry has written to the corporate affairs ministry, asking the latter to exempt banks from the corporate-social responsibility (CSR) spending mandated by the Companies Act. These two  news are positive for bank stocks. Front line stocks like SBI, ICICI, HDFC, PNB, Axis and BOB are likely to gain in today's trade.

INDIAN HOTEL'S RIGHTS ISSUE OPENS ON 04/08/2014

The Rs 1,000-crore rights issue of  Indian Hotels Company  will open on August 4.

The company is offering 18.2 crore 'compulsorily convertible debentures' for cash at Rs55 a piece to its existing shareholders on rights basis for an aggregate amount of up to Rs 1000 crore.

Every investor holding 40 equity shares of IHCL would be eligible to buy 9 'compulsorily convertible debentures' of the company.

The issue closes on August 20.

INFY INKS PACT WITH DAIMLER

Tech major Infosys has entered  into a multi-year agreement with German auto giant Daimler to provide a host of technology-related services. This deal will cover management of infrastructure services and data centers, providing e-collaboration and middle-ware services as well as overseeing database operations. The stock gained Rs 42 and closed at 3243 in yesterday's trade.

RBI RELAXES GOLD LOAN RESTRICTIONS FOR BANKS

Reserve Bank of India has relaxed the limit on loans that banks can sanction against pledging of gold ornaments and jewellery. The existing limit is Rs 1 lac.

The new guide lines says Banks, as per their board approved policy, may decide upon the ceiling with regard to the quantum of loans that may be granted against the pledge of gold jewellery period of such loan should not exceed 12 months from the date of sanction. 

However the Loan to Value shall be maintained at 75 per cent through the tenure of the loan and ornaments for non-agricultural end uses.

BRICS CONTRIBUTES TO APPLE'S GROWTH

Apple has reported quarterly profits of $7.75 bn up 12% on the same period last year.

Apple saw strong growth in BRICS countries - Brazil, Russia, India, South Africa, and especially China where iPhone sales rose by 48%.

The company sold 35.2 million iPhones from March to June, an increase of 13% from the same time in 2013.

GLOBAL CUES AND NET BUYING BY DIIs / FIIs MAY TAKE NIFTY TO ALL TIME HIGH

NIFTY is just 42 points away from surpassing the all time high level. Global cues and net buying by both DIIs and FIIs may take NIFTY beyond its previous high. Bank NIFTY was subdued yesterday after Axis Bank's results were announced. In today's rally they may bounce back. Auto, FMCG and cement stocks are also expected to gather momentum. F&O expiry is just 6 trading days away.  Short covering of positions in some speculative counters may add fuel to the indices fire. 

NOKIA EFFECT : MICROSOFT REPORTS FALL IN PROFITS

Microsoft has reported a 7% fall in profit during the second quarter. Microsoft's Nokia division, which it acquired in April, lost $692m.

The company said profit during the March to June period was $4.6bn compared with $4.97bn during the same period last year.