Two-wheeler maker TVS Motor dissapointed street with the first quarter net profit and revenue reporting at Rs 72.3 crore and Rs 2,305.4 crore as against CNBC-TV18 poll of Rs 100 crore and 2,336 crore. The stock plunged 4 percent after rising as much as 5 percent intraday.
Hindalco, Tata Steel, Sesa Sterlite, BHEL and HUL are top gainers in the Sensex. Among the losers are GAIL, Dr Reddy's Labs, Hero Motocorp and HDFC.
Tata Steel, Hindalco Industries, Sesa Sterlite, Mahindra Mahindra, BHEL, Bank of Baroda and HCL Technologies rallied 1-2 percent.
GAIL, Dr Reddy's Labs, Bajaj Auto, Cipla and Hero MotoCorp are top losers in the Sensex. Among the gainers are Tata Steel, Hindalco, BHEL, MM and Tata Power. Shares in steel makers surge after a surprisingly strong reading on Chinese manufacturing.
Cairn India topped the selling list in Nifty, down 4.5 percent after its first quarter bottomline dropped 64 percent on sequential basis due to change in depreciation policy.
Wipro, Sun Pharma, Bajaj Auto, HUL and TCS are top gainers in the Sensex. Among the losers are Bharti, Sesa Sterlite, Reliance, LT and GAIL.
Stable earnings and hefty demand for technology shares supported the market today, say experts. They remain bullish on market, saying it is a good time to buy now but they donât rule out near term correction as rally canât be one way.
Infosys, Hindalco, TCS, Wipro and Hero were up 2-3 percent each. Among the losers were Tata Power, Tata Steel, GAIL, Maruti and ONGC.
Mid and small caps underperform the benchmark indices. IT stocks support the upmove. Infosys, Hindalco, TCS, Wipro and ICICI Bank are top gainers in the Sensex. Among the losers are Tata Steel, Axis Bank, Tata Power, Tata Motors and Sun Pharma.
Midcap IT company Polaris Financial Technology fell more than 5 percent after reporting a consolidated net profit at Rs 38.3 crore in April-June quarter, down 15.6 percent compared to Rs 45.4 crore in previous quarter due to fall in revenues and higher tax cost.
Infosys, Hindalco, TCS, ICICI Bank and SBI are top gainers in the Sensex. Tata Power, NTPC, Tata Steel, Sun Pharma and Coal India are among majr losers. Jet Airways is up 5 percent.
The market capitalisation of top software services exporter Tata Consultancy Services (TCS) surpassed the Rs 5 lakh crore mark today, which is higher than combined market cap of Infosys, HCL Technologies, Wipro and Tech Mahindra.
Bajaj Auto, ICICI Bank, Coal India, ONGC and Dr Reddy's Labs are top gainers in the Sensex. Among the losers are Hero MotoCorp, Wipro and Axis Bank.
Reliance Industries and HDFC were the leaders in trade today, up 3 percent each in addition to 2-3 percent rally in previous session post first quarter earnings. Private sector lender HDFC Bank recouped its losses, up 1.4 percent while its rivals State Bank of India and ICICI Bank closed flat.
The Sensex ended above 26,000 for second time, up 310.63 points or 1.21 percent at 26025.80 and the Nifty was up 83.65 points or 1.09 perent at 7767.85. About 1466 shares advanced, 1497 shares declined, and 114 shares were unchanged.
Abu Dabhi-based energy company, TAQA has withdrawn from the agreement to acquire company's two hydro power projects in Himachal Pradesh for Rs 10,500 crore.
Macquarie has a neutral rating on the stock with lower target of Rs 865 from Rs 931. "We remain positive on the fundamentals of the company and believe a revival in captive cycle could lift earnings. However we believe the earnings revival is built the current price," it said.
After inspecting the companyâs active pharmaceutical ingredients (APIs) manufacturing unit at Raltam, US Food and Drug Administration (US FDA) has raised some concerns in Form 483. Hence the drug manufacturer will suspend shipments to the US markets till the issue is addressed.
Macquaire suggests buying the stock for a target of Rs 377 per share. It says that Cairn India boasts of strong cashflows of over USD 2 billion per year and is arguably the only crude pure play in Asia.
The cabinet has approved raising foreign direct investment (FDI) limit in insurance sector to 49 percent from 26 percent earlier. Finance Minister Arun Jaitley in his maiden Union Budget 2014 had proposed to hike FDI in insurance.
On July 23, 2014 HDFC Trustee Company Ltd A/C bought 4,02,000 shares of Apar Industries.
Credit Suisse is disappointed by ING Vysyaâs performance. It warns that net interest margin (NIM) may come under further pressure as the bank is raising share of large corporates in the loan book.
Attorney-General Mukul Rohtagi has said that there was enough evidence with the agency to file charge sheet against former Telecom Minister Dayanidhi Maran and his brother Kalanithi in the Aircel-Maxis deal case.
Here are a few top buzzing stocks picked by CNBC-TV18's analysts in trade today â KPIT Technologies, Max India, Ceat, Sun TV, ING Vysya and Strides Arcolab.
RBI said aggregate share holdings by Foreign Institutional Investors/Registered Foreign Portfolios Investors/Non-Resident Indian/Persons of Indian origin (PIOs) under PIS in Bank of Baroda have gone below the prescribed threshold caution limit. FIIs held 16.95 percent shares in Bank of Baroda as of quarter ended June 2014, according to BSE data.
TCS' current market capitalisation of Rs 504,666.26 crore is higher than the combined market cap of Infosys (Rs 190,215.73 crore), HCL Technologies (Rs 108,230.21 crore), Wipro (Rs 139,470.18 crore) and Tech Mahindra (Rs 50,485.91 crore).
LHC will invest upto Rs 397 crore directly in MHC by subscribing to fresh equity at Rs 67.50 per share. It will also acquire upto 13.3 percent of existing stake in the Company from Max India at Rs 67.50 per share for upto Rs 383 crore, to achieve an equal shareholding as that of its JV partner Max India.
Operating profit or EBITDA was down by 14 percent to Rs 128 crore in April-June quarter compared to Rs 149 crore in same quarter last year and margin fell 250 basis points to 8.8 percent from 11.3 percent. The management said that margins were hit due to rise in employee cost, higher ad spends and adverse product mix.
At 09:23 hrs Aditya Birla Money was quoting at Rs 21.90, up Re 1, or 4.78 percent. It has touched a 52-week high of Rs 21.90.
On July 22, 2014 HDFC Mutual Fund bought 3,71,173 shares of Centum Electronics at Rs 360.