Wednesday, May 30, 2012
The market today ended trade in red on falling rupee and GDP concerns. The Sensex ended at 16,312.15, down 126.43 points while the Nifty fell 39 points. Major Headlines: IT dept freezes bank a/cs of KFA M&M Q4 net profit jumps by 39% United Spirits cons Q4 net profit slips by 67% Colgate Palmolive Q4 net profit slips by 14%
At Rs 160.65 on BSE Shares of Speciality Restaurants settled at Rs 160.65 on BSE, a 7.1% premium over initial public offer price of Rs 150 per share. The equilibrium price of Speciality Restaurants during the one-hour auction in pre-open session was set at Rs 153, a premium of 2% to the initial public offer (IPO) price of Rs 150. In light of high volatility and price movement observed on first day of trading, market regulator Securities & Exchange Board of India (Sebi) had vide its circular dated 20 January 2012 put in place a framework of trade controls for IPO and re-listed scrips. Price bands for issue size up to Rs 250 crore for the first day in the normal trading session will be 5% of the equilibrium price. Additionally, the trading shall take place in trade to trade segment for first 10 days from commencement of trading. For issue size greater than Rs 250 crore, the applicable price bands for the first day are fixed at 20% of the equilibrium price.
Key benchmark indices dropped in choppy trade as stocks fell across the world stocks amid incessant worries about Spain's finances and the fallout from the European debt crisis. The barometer index, BSE Sensex, lost 126.43 points or 0.77%, up about 20 points from the day's low and off close to 120 points from the day's high. The market breadth was weak. BSE Mid-Cap and Small-Cap indices fell over 1% each. The Sensex has declined 1,006.66 points or 5.81% in May 2012 so far (till 30 May 2012). The barometer index has gained 857.23 points or 5.54% in calendar 2012 so far (till 30 May 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,176.29 points or 7.77%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,819.55 points or 14.73%. Coming back to today's trade, Tata Motors tumbled nearly 12% as the company's American Depository Receipt (ADR) fell almost 3% on Tuesday, 29 May 2012, after the company reported Q4 March 2012 results. The stock declined on heavy volumes. M&M rose in choppy trade after strong Q4 results. Banks stocks fell across the board. GAIL (India) declined on weak Q4 results. ONGC dropped on concerns about the company's high subsidy burden. Index heavyweight Reliance Industries (RIL) edged higher in volatile trade. Sun Pharmaceutical Industries gained after strong Q4 results.
Indian Oil Corporation, Oil India, Reliance Communications, Reliance Infrastructure, Bharat Forge, Voltas, Coal India
Indian Oil Corporation, Oil India, Reliance Communications, Reliance Infrastructure, Bharat Forge, Voltas
Prices end near the daily low on a late-session downside move Bullion metal prices ended lower on Tuesday, 29 May 2012 at Comex. Prices ended the U.S. day session modestly lower and near the daily low on a late-session downside move. The U.S. dollar index rallied, the Euro currency slumped and crude oil prices weakened in the immediate wake of a credit rating downgrade for Spain. Gold for June delivery ended lower by $20.20 or 1.3%, to end at $1,548.7 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday. Gold for August delivery, which is the most-active contract, fell $20.20, or 1.3%, to settle at $1,551 an ounce. On Tuesday, silver prices for July delivery ended lower by 60 cents or 2.1% at $27.79.
The marker may edge lower in early trade on weak Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 32.50 points at the opening bell. GAIL (India) and DLF unveil Q4 results today, 30 May 2012. Mahindra & Mahindra (M&M) and Jaiprakash Associates also unveil FY 2012 results today. Tata Motors announced after market hours on Tuesday that consolidated net profit jumped 136.35% to Rs 6234 crore on 44.14% rise in total income to Rs 51066.48 crore in Q4 March 2012 over Q4 March 2011. Tata Motors' sales (including exports) of commercial and passenger vehicles for FY 2011-12, stood at 926,353 units, representing a growth of 10.7 % as compared to the corresponding period last year. In the domestic market, the company's commercial vehicles sales for the Quarter ended March 31, 2012, stood at 155,672 units, an increase of 16.2% over the corresponding period last year. The commercial vehicles sales during FY 2011-12 increased by 15.7 % to 530,204 units, as compared to the corresponding period last year. The company's market share in commercial vehicles was 59.4% for FY 2011-12.
In yet another senior-level exit at Infosys, Ritesh Idnani, senior vice-president and chief operating officer of its BPO arm, has resigned. (ET) Infrastructure conglomerate GVK has received environmental clearance from the Queensland government in Australia for its Alpha coal and rail project, for which it has set aside US$10bn. (ET) Gitanjali Group is planning to invest up to US$75mn in increasing its number of outlets in the UAE to 110 within two years. (ET) Shareholders of Escorts have approved a controversial restructuring proposal that envisages the merger of one subsidiary and two affiliates with the tractor maker. (ET)
The BSE Sensex ended at 16,438, gaining by 0.13% or 21 points. Market participants heaved a sigh of relief as a boring trading session finally came to an end with the key indices finishing nearly flat. After opening with a slight positive bias, the Indian markets did show some strength in the first half but the upswing was short lived, as the frontline indices erased all the day's gains in the second half. The key indices lost steam after the European markets surrendered some of the early gains. The BSE Sensex ended at 16,438, gaining by 0.13% or 21 points. It had earlier touched a day’s high of 16,544 and a day’s low of 16,410. It opened at 16,500. The NSE Nifty settled at 4990, almost unchanged. It touched a day’s low of 4,982 and day’s high of 5,020. HCL Tech, Cairn, Wipro, Coal India, Ranbaxy, Maruti, Bank of Baroda, TCS, Bajaj Auto and ONGC were among the notable leaders on the Sensex and the Nifty. ACC, BPCL, IDFC, SAIL, Grasim, ITC and Sterlite Industries were the notable losers on both the indexes. The INDIA VIX on the NSE gained by 1.6% to close at 24.03. It hit days high of 25.33. It hit a low of 22.70.
Conflict is inevitable, but combat is optional. - Max Lucade. Amid all the external and internal conflicts, our usually soft-spoken and mild-mannered PM has turned combative. Dr. Manmohan Singh has thrown the gauntlet at Team Anna to prove his guilt in the controversy over the allocation of coal blocks. The PM says he is ready to pull the plug on his political career if proven wrong. Another report shows UPA II may not be able to take any further bold measures in light of the stiff political resistance from all sides. The economic environment remains challenging in India; sales of AC makers and lifestyle retailers have turned weak. At the same time, inflation is unlikely to soften materially as can be gauged from reports of yet another price hike by few car makers. The Indian markets will take a cue from Q4 GDP data due on Friday. But, before that we have to contend with the F&O expiry on Thursday and plenty of results.
Indian markets may open on flat to negative note tracking weak Asian cues and on account of SGX Nifty which is trading 26.50 points lower. Events for the day: New Listings: Speciality Restaurants, Monarch Health Services. Results: DLF, Pipavav Defence and Offshore Eng, Financial Technologies (India), Gail (India), Mahindra & Mahindra, Rashtriya Chemicals & Fertilizers, Tata Chemicals, Havells India, Housing Development & Infrastructure Ltd, United Breweries, Colgate-Palmolive (India), Jaiprakash Associates. Headlines for the day: CCI approves RIL stake purchase in Network18 group. Loop Telecom approaches TDSAT seeking refund of licence fee. SBI to approach Moody's for an upgrade. BPCL, HPCL, IOC slide as govt rules out diesel price hike.
Credit rating downgrade on Spain renewed concerns over oil demand Crude prices ended mildly lower on Tuesday, 29 May 2012 at Nymex. Prices dropped for first time in three sessions as credit rating downgrade on Spain renewed concerns over oil demand from the euro zone and buoyed the U.S. dollar. Weaker than expected consumer confidence data at Wall Street also affected prices. Light and sweet crude for July delivery fell $0.10 (0.1%) to $90.76 a barrel on the New York Mercantile Exchange on Tuesday. In the currency market on Tuesday, the U.S. dollar index, which weighs the strength of the dollar against a basket of six currencies rose by 0.4%. The market place was tentative early Tuesday, following a long U.S. holiday weekend, and got more uneasy on the Eagan Jones credit downgrade for Spain. The Euro currency fell to a fresh nearly two-year low on the ratings downgrade news. The latest European Union debt and financial crisis developments also saw the large Spanish bank, Bankia, given significant bailout money over the weekend.
Tuesday, May 29, 2012
On a consolidated basis, Coal India's net profit fell 4.91% to Rs 4013.41 crore on 31.91% growth in total income to Rs 21746.94 crore in Q4 March 2012 over Q4 March 2011. Net profit jumped 36.07% Rs 14788.20 crore on 26.95% growth total income to Rs 69952.33 crore in the year ended March 2012 over the year ended March 2011. Net profit of Engineers India rose 15% to Rs 190.34 crore on 29.5% increase in net sales to Rs 1225.31 crore in Q4 March 2012 over Q4 March 2011. The company's board has recommended a final dividend of Rs 4 per share for the financial year ended March 2012. On a consolidated basis, net profit of Fortis Healthcare jumped 41.34% to Rs 41.54 crore on 206.12% surge in total income to Rs 1,388.57 crore in Q4 March 2012 over Q4 March 2011. Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India will announce their FY 2012 results today, 29 May 2012. Sun Pharmaceuticals Industries will announces its Q4 March 2012 results today, 29 May 2012. Steel Authority of India (Sail) has signed a 50:50 joint venture agreement with Burn Standard Company (BSCL) at Kolkata for setting up a Wagon Components Manufacturing Facility at the premises of BSCL at Jellingham, Purba Medinipore district, in West Bengal, with a capacity to produce 10,000 bogies and 10,000 couplers per annum. The estimated capital outlay for the project is about Rs 200 crore. Welspun Corp, a large diameter pipe manufacturer, said it has received orders worth Rs 2070 crore from international and domestic markets. "Welspun Corp has won pipes and plates orders worth Rs 2,070 crore from international and domestic market. With the addition of these orders, the current order book of the company stands at Rs 7,447 crore," the company said in a statement. Over and above Welspun has internal plate orders valued at Rs 311 crore, it said. NMDC net profit declined 21.74% to Rs 1642.28 crore in the quarter ended March 2012 as against Rs 2098.62 crore during the previous quarter ended March 2011. Sales declined 31.20% to Rs 2593.65 crore in the quarter ended March 2012 as against Rs 3769.75 crore during the previous quarter ended March 2011. Mcleod Russel India reported net loss to Rs 157.39 crore in the quarter ended March 2012 as against net loss of Rs 122.94 crore during the previous quarter ended March 2011. Sales rose 13.62% to Rs 252.55 crore in the quarter ended March 2012 as against Rs 222.27 crore during the previous quarter ended March 2011. 3M India net profit declined 23.07% to Rs 21.77 crore in the quarter ended March 2012 as against Rs 28.30 crore during the previous quarter ended March 2011. Sales rose 25.12% to Rs 395.74 crore in the quarter ended March 2012 as against Rs 316.29 crore during the previous quarter ended March 2011. DCM net profit rose 310.44% to Rs 18.47 crore in the quarter ended March 2012 as against Rs 4.50 crore during the previous quarter ended March 2011. Sales rose 1.45% to Rs 73.42 crore in the quarter ended March 2012 as against Rs 72.37 crore during the previous quarter ended March 2011. Trent net profit rose 116.52% to Rs 19.53 crore in the quarter ended March 2012 as against Rs 9.02 crore during the previous quarter ended March 2011. Sales rose 20.98% to Rs 183.02 crore in the quarter ended March 2012 as against Rs 151.28 crore during the previous quarter ended March 2011. Indoco Remedies net profit rose 3.04% to Rs 12.53 crore in the quarter ended March 2012 as against Rs 12.16 crore during the previous quarter ended March 2011. Sales rose 22.60% to Rs 147.66 crore in the quarter ended March 2012 as against Rs 120.44 crore during the previous quarter ended March 2011. Fertilizers & Chemicals Travancore reported net profit to Rs 38.24 crore in the quarter ended March 2012 as against net loss of Rs 35.24 crore during the previous quarter ended March 2011. Sales rose 19.73% to Rs 802.89 crore in the quarter ended March 2012 as against Rs 670.58 crore during the previous quarter ended March 201
The market may edge higher in early trade tracking mostly higher Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 10 points at the opening bell. The market may remain volatile this week as traders roll over positions from the near-month May 2012 series to June 2012 series. The May 2012 derivatives contracts expire on Thursday, 31 May 2012 Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India announce FY 2012 results today, 29 May 2012. Sun Pharmaceuticals Industries announces Q4 results today, 29 May 2012. Coal India announced after market hours on Monday that consolidated net profit fell 4.91% to Rs 4013.41 crore on 31.91% growth in total income to Rs 21746.94 crore in Q4 March 2012 over Q4 March 2011. Net profit jumped 36.07% Rs 14788.20 crore on 26.95% growth total income to Rs 69952.33 crore in the year ended March 2012 over the year ended March 2011.
Tracking gains in the Asian stocks, the Indian markets are likely to open on a positive note. SGX Nifty is trading 9.50 points higher. Events for the day: Earnings in focus today - Apollo Hospitals Enterprise, Aurobindo Pharma, Ipca Laboratories, Power Grid Corporation of India, Welspun Corp, Hindustan Petroleum Corporation, Oil and Natural Gas Corporation, Steel Authority of India, United Spirits, GMR Infrastructure, Tata Motors, Sun Pharmaceutical Industries, Lanco Infratech, EIH, Hindustan Copper. Headlines for the day: OIL in talks to buy 51% stake in Reliance Gas Transportation. RCom awaits for spectrum guidelines to sell tower biz. Rupee fall won't hurt India's ratings: Moody's. Airtel rating unaffected by Qualcomm deal: Fitch. Hotel Leela promoter firm pledges 18.56% stake with SBI, BOB.
Fortis Healthcare hived off its non-core business and related assets into a separate company to be listed as a business trust on the Singapore exchange to raise around Rs20bn. (ET) Teva will not launch atorvastatin, the generic version of Lipitor, a move that will help Ranbaxy and DRL garner larger sales in the US. (ET) India’s competition watchdog has approved Reliance Industries acquisition of stakes in Raghav Bahl’s media companies Network 18 and TV18 Broadcast. (ET) Jindal Steel & Power has entered into an agreement with Gujarat NRE Coking Coal, an Australian subsidiary of Gujarat NRE Coke, to pick up a 10% strategic stake in the company. (ET)
After rising on a weekly basis after a long time, the Indian stock markets ended with healthy gains on the first day of the new trading week. The NSE Nifty came close to the 5000 mark, surging ~70 points in intraday trade. On the other hand, the BSE Sensex jumped by ~200 points, ending above the 16,400 mark. The BSE Sensex ended at 16,417, gaining by 1.2% or 199 points. It had earlier touched a day’s high of 16,440 and a day’s low of 16,273. It opened at 16,289. The NSE Nifty settled at 4986, up by 65 points or 1.3%. It touched a day’s low of 4,931 and day’s high of 4,995. SBI, BHEL, Tata Power, PNB, Sesa Goa, Axis Bank, Tata Motors, Bank of Baroda, Power Grid Corporation, Hindalco Industries, M&M, ICICI Bank, NTPC, Sterlite Industries and HDFC Bank were among the notable leaders on the Sensex and the Nifty. GAIL, BPCL, Maruti Suzuki and ONGC were the notable losers on both the indexes. The INDIA VIX on the NSE fell by 6% to close at 23.68. It hit days high of 25.40. It hit a low of 23.59.
Danger and delight grow on one stalk. – Proverb. The slight drizzle seems to remind one that monsoons are getting closer and hopefully will be normal. In fact, we’ve had a rather pleasant start to the week, with the main indices spurting on a mild recovery in the global risk appetite. The Rupee too gained from a global bounce. The euro rose after Greece's pro-austerity party topped polls ahead of June elections, raising hopes that the debt-strapped nation will stick to budget cuts and stay in the euro bloc. However, the European markets erased all the gains amid growing concern about Spain’s shaky banking sector. Shares of Bankia sank 28% in Madrid after news that the Spanish government will inject €19bn into the troubled lender. Markets in the US were closed for the Memorial Day holiday. All eyes will be on the latest US monthly jobs report on Friday. Final PMI data for the Chinese manufacturing sector will also be on investors’ radar.
Monday, May 28, 2012
After rising on a weekly basis after a long time, the Indian stock markets ended with healthy gains on the first day of the new trading week. The NSE Nifty came close to the 5000 mark, surging ~70 points in intraday trade. On the other hand, the BSE Sensex jumped by ~200 points, ending above the 16,400 mark. The BSE Sensex ended at 16,417, gaining by 1.2% or 199 points. It had earlier touched a day’s high of 16,440 and a day’s low of 16,273. It opened at 16,289. The NSE Nifty settled at 4986, up by 65 points or 1.3%. It touched a day’s low of 4,931 and day’s high of 4,995. SBI, BHEL, Tata Power, PNB, Sesa Goa, Axis Bank, Tata Motors, Bank of Baroda, Power Grid Corporation, Hindalco Industries, M&M, ICICI Bank, NTPC, Sterlite Industries and HDFC Bank were among the notable leaders on the Sensex and the Nifty. GAIL, BPCL, Maruti Suzuki and ONGC were the notable losers on both the indexes.
If the Bharatiya Janata Party was quick to call for a nationwide strike on May 31, to protest the steepest petrol price hike that this country has ever seen, the response from the Communist parties was about as nimble. While the Red Brigade hasn't given any clear indication on whether or not it supports the BJP, it has decided to observe an 'All India Protest Day' on the very day the BJP has planned its Bharat Bandh. It is a very casual approach toward the solution of the problem, but it may work if the general public will cooperate. The actual problem is that the opposition is not strong enough to protest on any matter related with fuel hike and other strong issue on which public opinion can easily be obtained. The problem lies with the production unit of petrol who are supplying fuel to the government. It's pure monopoly business and until some alternative sources comes ou , these Oil suppliers will continue to take undue advantage, whichever political party is in power. The best solution for the problem is to declare 'No petrol day' once a month, on that day common public should not buy a single drop of petrol , so as to send clear message to the oil suppliers that if whole India keep there vehicle shut for a single day , how much loss the company has to bear.
Coal India has announced the following consolidated results for the quarter & year ended March 31, 2012: The Audited consolidated results for the Quarter ended March 31, 2012 The net profit of the group dropped by 4.92% to Rs4013.41 crore for the quarter ended March 31, 2012 as compared to Rs4220.92 crore for the quarter ended March 31, 2011. The total income of the company increased by 31.92% to Rs21746.94 crore for the quarter ended March 31, 2012 from Rs16485.69 crore for the quarter ended March 31, 2011. The Audited consolidated results for the Year ended March 31, 2012 The net profit of the group advanced by 36.08% to Rs14788.20 crore for the year ended March 31, 2012 as compared to Rs10867.35 crore for the year ended March 31, 2011. The total income of the group increased by 26.95% to Rs69952.33 crore for the year ended March 31, 2012 from Rs55101.42 crore for the year ended March 31, 2011. Coal India closed at Rs315.05, up by 0.57%, with a volume of 2 lakh shares on the BSE.
The Indian markets stayed higher throughout the day on the back positive global cues and continued pullback in the rupee. The Sensex closed 199 points higher and the Nifty rose 65 points. Major Headlines Oil India slips after posting Q4 nos Bharat Forge Q4 net profit jumps by 42% IOC Q4 cons net profit declines by 46% No price hike for diesel, LPG, kerosene: Jaipal Reddy RIL proposes new plan to develop D-6 block
Turnover rises Nifty June 2012 futures were at 4992, at a premium of 6.35 points compared to the spot closing of 4985.65. Nifty May 2012 futures were at 4987.50, near spot closing. Turnover on NSE's futures & options (F&O) segment surged to Rs 136423.91 crore from Rs 122173.77 crore on Friday, 25 May 2012. State Bank of India (SBI) May 2012 futures were at 2106.30, near spot closing of 2104. Tata Motors May 2012 futures were at 277.70, near spot closing of 277.10. Tata Steel May 2012 futures were at 410.40, near spot closing of 410.95. In the cash market, the S&P CNX Nifty jumped 65.25 points or 1.33% to settle at 4,985.65, its highest closing level since 8 May 2012. The near-month May 2012 derivatives contracts expire on Thursday, 31 May 2012.
Key benchmark indices surged as world stocks rose after opinion polls in Greece showed a lead for a party favoring the country's economic bailout in upcoming elections and amid expectations for a policy stimulus in China to support growth. China is the world's second biggest economy after the US. The 50-unit S&P CNX Nifty attained its highest closing level in almost three weeks. The barometer index, BSE Sensex, scaled its highest closing level in 2-1/2 weeks. The Sensex jumped 199.02 points or 1.23%, off about 20 point from the day's high and up about 145 points from the day's low. The market breadth was strong. All the 13 sectoral indices on BSE were in the green. The Sensex has declined 901.97 points or 5.2% in May 2012 so far (till 28 May 2012). The Sensex has gained 961.92 points or 6.22% in calendar 2012 so far (till 28 May 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,280.98 points or 8.46%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,714.86 points or 14.19%.
Sunday, May 27, 2012
Saturday, May 26, 2012
After eight years in power, the Congress-led coalition's pull seems to be diminishing. The result of the ABP News-Nielsen survey conducted on the eve of the UPA-II third anniversary has revealed this. The survey, conducted across 28 cities across the country in April-May 2012, reveals that the BJP would garner 28% of the votes if Lok Sabha elections are held now, while the Congress would manage only 20%. In fact, the BJP has turned out to be the most favoured party. In an interesting revelation, only 69% of those who voted for Congress during 2009 Lok Sabha elections are still intending to vote for it if Lok Sabha elections are held now. 31% are moving away from it and 12% of these respondents now intend to vote for the BJP. Whereas for BJP, 84% will stick with the party and only 2% are switching away from it to Congress. In 2009 elections, 28% of these respondents voted for Congress, while 27% voted for the BJP. But for the BJP, the dip of 8% in the Congress vote share is not a complete gain. The BJP is gaining only a marginal 1%. The remaining 7% dip in Congress vote share among these respondents is gain for regional parties. In the 2009 Lok Sabha elections, Congress had won 207 seats while BJP had got 116 seats. While 32% believed the government's performance was good or very good, a sizable 35% rated the performance as average. Significant 21% respondents said it was poor while 11% rated the performance as very poor. The performance of UPA government has been rated slightly below average with a mean score 2.95, which is lower than the mean score of 3.22 last year.
The Indian rupee recovered from session lows to end slightly higher against the US dollar as the Reserve Bank of India (RBI) intervened to defend the beleaguered domestic currency and exporters sold the greenback. The euro inched up from two-year lows against the dollar on Friday, partly helping the rupee recover. The rupee still closed down for an eight successive week, having hit seven straight record lows since May 16. Its latest was on Thursday when it fell as low as 56.39. This is the rupee's longest losing streak since the 11-week fall that culminated in October 2008. The rupee ended the day at 55.3750 per dollar after being as high as 55.2350 and as low as 56.0850. It opened at 56.00 as against the previous close of 55.6550. Its weekly low was 56.39 while its weekly high was 54.4350. It had closed at 54.39 last Friday. The RBI is likely to have sold dollars in spot markets via public sector banks to prevent the rupee from falling beyond the psychologically key level of 56 per dollar, according to reports. The RBI is also said to have intervened in the forward markets. Some banks were seen selling off their long dollar positions ahead of the weekend. Some selling from exporters who had missed Thursday's deadline to convert half of their foreign currency holdings into rupees was also cited by traders, according to reports. Besides selling of dollars by some public sector banks and exporters, a rebound in the local stocks and steps taken by the RBI helped the rupee recover from an all-time low on Thursday. The RBI will take the required steps, consistent with its policy, to curb swings in the rupee, RBI Governor D. Subbarao said yesterday. "We have taken action to improve the current flows, encourage inflows and also to curb speculation," Subbarao told reporters in Mussoorie. "We will do whatever is necessary, consistent with our policy."
After a long time, the main Indian stock indices managed to register weekly gains. The steep petrol price hike probably did the trick as it sparked off expectations of few more bold policy actions from the usually lethargic UPA II. But, it didn’t take much time for that perception to change as reports of a partial rollback in petrol prices started doing the rounds. Also, an EGoM scheduled for Friday to consider revision in other petroleum products was deferred amid stiff political backlash and public outrage. Whether UPA II manages to improve its scorecard in the remaining two years of its term is anybody’s guess. Things have not exactly been rosy for the Congress-led regime, and the biggest victim of the policy paralysis has been the rupee. Although, the local currency has recovered slightly in the past two sessions, it remains to be seen if it can sustain the pullback in the absence of progress on the policy front. Next week’s release of GDP data will be of interest to market participants amid fear of a deeper downturn.
The Indian markets rose marginally this week after falling for four straight weeks. The Sensex rose 0.40% and the Nifty gained 0.59% for the week ended May 25, 2012. Headline for the week: Oil cos' gains after Petrol hiked by Rs7.54 a litre Fire in your pocket: Petrol prices do it again How is Rupee’s freefall related to Newton’s law? RIL group abandons D4 gas India's economic growth likely to rise 7.5% Petrol prices may be cut next month: Oil cos
Eros International Media rose 1.3% to Rs 166.95 at 14:04 IST on BSE after the company said it will be releasing R Balki produced trilingual movie -- English Vinglish worldwide on 21 September 2012. The company made this announcement during trading hours today, 25 May 2012. Meanwhile, the BSE Sensex was up 37.34 points or 0.23% to 16,259.64. On BSE, 26,000 shares were traded in the counter as against average daily volume of lakh 65,121 shares in the past one quarter. The stock hit a high of Rs 168.50 and a low of Rs 163.55 so far during the day. The stock had hit a record high of Rs 277 on 18 October 2011. The stock had hit a 52-week low of Rs 136.35 on 25 May 2011. The stock had underperformed the market over the past one month till 24 May 2012, falling 13.92% as compared to the Sensex's 5.72% fall. The scrip had also underperformed the market in the past one quarter, declining 11.47% as compared to the Sensex's 9.49% fall. The company has an equity capital of Rs 91.78 crore. Face value per share is Rs 10. Eros International Media said the movie English Vinglish is a trilingual movie shot in Hindi, Tamil and Telugu. Commenting on the development, Mr Sunil Lulla, Managing Director, Eros International Media said, "With English Vinglish, we are excited for Sridevi's return to acting and with Balki and Gauri at the helm, we believe there's a lot of anticipation around the film. Eros is very proud to associate with this project and present it to audiences worldwide". On a consolidated basis, Eros International Media's net profit rose 61.5% to Rs 69.09 crore on 46% growth in net sales to Rs 408.42 crore in Q3 December 2011 over Q3 December 2010. An entertainment firm, Eros International Media, operates on a vertically integrated studio model, controlling content as well as distribution and exploitation across all formats globally, including cinema, digital, home entertainment and television syndication.
The market may remain volatile as traders roll over positions from the near-month May 2012 series to June 2012 series. The May 2012 derivatives contracts expire on Thursday, 31 May 2012 The government will announce Q4 March 2012 gross domestic product (GDP) data on Friday, 31 May 2012. The Indian economy expanded 6.1% in the October-December quarter from a year earlier, the weakest pace of expansion in more than two years, hurt by slower growth in manufacturing output and a contraction in mining production. Automobile and cement shares will be in focus as companies from these two sectors will start unveiling monthly sales volume data for May 2012 from Friday, 1 June 2012. HSBC's monthly purchasing managers' index (PMI), which indicates the health of the manufacturing sector, is likely to be released next week. The HSBC India PMI, compiled by Markit, rose to 54.9 in April from 54.7 in March. The Q4 March 2012 earnings season is drawing towards a close. Investor focus is on the guidance provided by the management for the year ending March 2013 (FY 2013) to gauge the earnings outlook. Coal India announces FY 2012 consolidated results on Monday, 28 May 2012. Tata Motors, ONGC, Steel Authority of India and Power Grid Corporation of India announce FY 2012 results on Tuesday, 29 May 2012. Sun Pharmaceuticals Industries announces Q4 results on the same day. GAIL (India) and DLF unveil Q4 results on Wednesday, 30 May 2012. Mahindra & Mahindra (M&M) and Jaiprakash Associates unveil FY 2012 results on the same day.
The market managed to garner small gains after moving in a tight range in the week ended 25 May 2012. The market fell in three out five trading sessions in the week just gone by. Investors cheered the government's announcement on Wednesday to allow state oil companies to raise petrol prices, seeing it as a step taken forward towards fiscal consolidation. A timely arrival of monsoon rains over the Andaman Sea also helped lift sentiment. State-run oil marketing firms raised petrol prices by Rs 7.50 per litre to Rs 73 per litre effective midnight 24 May 2012. This is the steepest ever increase in petrol prices. The revision in petrol prices comes as the rupee hit an all-time low against the dollar on Wednesday, 23 May 2012, leading to jump in oil import bill for state-run oil refining-cum-marketing firms. The barometer index, BSE Sensex rose 65.07 points or 0.4% to 16,217.82. The 50-unit S&P CNX Nifty gained 28.95 points or 0.59% to 4920.40. The BSE mid-Cap index gained 0.61% and the BSE Small-Cap index gained 1.01%. Both these indices outperformed the Sensex. Key benchmark indices edged higher in volatile trade on Monday, 21 May 2012 as European stocks rose. The BSE Sensex advanced 30.51 points or 0.19% to settle at 16,183.26, its highest closing level since 15 May 2012.
Key benchmark indices settled marginally lower after intraday volatility. The market breadth was positive. The barometer index, BSE Sensex, was down 4.48 points or 0.03%, off 55.66 points from the day's high and up 99.47 points from the day's low. Index heavyweight Reliance Industries (RIL) dropped. The Sensex has declined 1,100.99 points or 6.35% in May 2012 so far (till 25 May 2012). The Sensex has gained 762.90 points or 4.93% in calendar 2012 so far (till 25 May 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 762.90 points or 4.93%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,913.88 points or 15.23%. Coming back to today's trade, cigarette maker ITC was slightly lower as top line growth in Q4 March 2012 fell short of market expectations. Small-car maker Maruti Suzuki India declined for second running day on worries the latest steep hike in petrol prices may hit car sales. Reliance Infrastructure rose as the order book position of its EPC division remained strong. Adani group shares rose. Hindalco Industries rose after the company's US unit Novelis said that the management continues to expect a market recovery going forward and as a result expects FY 2013 adjusted EBITDA to be above FY 2012 level of $1.05 billion.
Tuesday, May 22, 2012
Reliance Industries Ltd approaches banks seeking a five-year loan of about US$1bn (Rs54.74bn). (BS) L&T Infotech said it has entered in a global strategic partnership with BMC Software to provide infrastructure management solutions such as data centre automation, IT service management and cloud computing management. (BS) BHEL has won a contract for supply and installation of Electrostatic Precipitator package for 2x660 MW (1,320 MW) Solapur Supercritical Thermal Power Project. (BS) NTPC and Coal India have agreed to sign new fuel supply agreements (FSA) on 2009 terms. (BL)
After losing for four straight weeks, the Indian stock markets ended the first trading day of the week on a positive note at the end of a lackluster session. Markets did manage to surge higher in early trades on the back of extended rally in banking heavyweight SBI post its robust Q4 results, however those gains could not be sustained due to offloading in IT heavyweights, FMCG and Telecom stocks. Market players preferred to be cautious as the rise was used to reduce positions, leading to a clear distribution throughout the session. In addition, the Indian rupee continued to be weak against the US Dollar, touching intraday record low of 54.91 for a second straight session. The BSE Sensex ended at 16,183, adding 0.2% or 30 points from the last close. It had earlier touched a day’s high of 16,298 and a day’s low of 16,149. It opened at 16,187. The NSE Nifty settled at 4906, up by 14 points or 0.3%. It touched a day’s low of 4,888 and day’s high of 4,937. The market breadth was positive, 1643 stocks advanced and 1027 stocks declined.
One's first step in wisdom is to question everything and one's last is to come to terms with everything. - GC Lichtenberg. The ‘risk off’ trade is likely to take a backseat temporarily. The markets world over seem to be coming to terms with the fact that leaders in Europe could step up efforts to stem the long-running debt crisis. US stocks rallied on Monday. Most European markets inched higher in a choppy session, but Spanish markets remained under pressure due to its precarious fiscal condition. Investors will now look forward to the informal EU summit on Wednesday. Asian indices are up smartly this morning after Germany’s finance minister was quoted as saying that the nation will focus on measures to boost Europe’s economic growth. We expect a positive start for Indian indices. Whether the early pop will sustain remains to be seen. The risk-reward ratio is still not favourable though a technical rebound is not ruled out after a series of weekly losses. Stick to a stock-centric approach. Look for beaten down companies with sound fundamentals, clear earnings visibility and good management. The Nifty has been trading in a tight range of 4850-4950 and a breakout beyond this range could some solace in the near term. Telecom stocks could be in focus on reports of DoT’s unfavourable recommendations on 2G auction.
Lower dollar and firmer crude prices limit selling Bullion metal prices ended moderately lower on Monday, 21 May 2012 at Comex. The key outside markets were mildly bullish for the precious metals Monday, as the U.S. dollar index was slightly lower, while crude oil prices were firmer. That did limit selling pressure in the precious metals markets on Monday. Gold for June delivery ended lower by $3.2 or 0.2%, to end at $1,588.7 an ounce on the Comex division of the New York Mercantile Exchange on Monday. The yellow metal saw some consolidation and a corrective pullback after recent strong gains that pushed prices well up from last week's 10-month low of $1,526.70. On Monday, silver prices for July delivery ended lower by 39 cents or 1.4% at $28.32.
Prices end higher for first time in seven sessions as dollar edges lower Crude prices ended modestly higher on Monday, 21 May 2012 at Nymex. Prices managed to end their long losing streak after the dollar edged lower. Prices rose in tandem with US equities ahead of key meetings this week about Iran's nuclear program. Light and sweet crude for June delivery rose $1.09 (1.2%) to $92.57 a barrel on the New York Mercantile Exchange on Monday. Prices ended higher for first time in seven sessions. In the currency market on Monday, the U.S. dollar index, which weighs the strength of the dollar against a basket of six currencies fell by 0.14%.
Global Cues: The European stocks closed lower on Monday (May 21, 2012), FTSE100 declined by 1.33%, CAC40 fell by 0.13% and DAX slipped by 0.60%. The US stocks closed lower on Monday. Dow Jones fell by 0.59% and Nasdaq slipped by 1.24%. The Asian shares are trading higher on Tuesday (May 22, 2012). SGX Nifty up by 55 points. Events for the day: Results: Container Corporation of India, GTL, Opto Circuits (India), Power Finance Corporation, Wockhardt, Tata Power Co. Stock in news: Govt to provide Rs38,500 cr subsidy to oil cos for Q4 FY12. RBI to take steps to stabilise rupee: Gokarn. Cyrus Mistry, Mallika Srinivasan appointed on Tata Steel Board. ABB bags Rs175 cr order from NTPC.
Key benchmark indices edged higher in volatile trade as European stocks rose on speculation European leaders will come up with a strategy to ease the region's debt crisis when they meet on Wednesday, 23 May 2012. The barometer index, BSE Sensex, advanced 30.51 points or 0.19%, off 115 points from the day's high and up about 35 points from the day's low. The market breadth was strong. Index heavyweight Reliance Industries (RIL) was firm. Auto major Tata Motors rose on bargain hunting after recent steep slide. The market extended gains for the third day in a row today, 21 May 2012. From a recent low of 16,030.09 on 16 May 2012, the Sensex has gained 153.17 points or 0.95% in three trading sessions. The Sensex has declined 1,135.55 points or 6.55% in May 2012 so far (till 21 May 2012). The Sensex has gained 728.34 points or 4.71% in calendar 2012 so far (till 21 May 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1047.40 points or 6.91%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,948.44 points or 15.41%.
Thursday, May 17, 2012
Piramal Healthcare Ltd is set to acquire Decision Resources Group - a US-based company in the healthcare information segment, for a consideration of approximately US$635mn (BS) Reliance Industries has reported that natural gas production from its eastern offshore KG-D6 fields has dropped to about 32.66mscmpd. (BL) Infosys termed the growth target given by industry body Nasscom (11-14%) for the year as ‘ambitious’, given the uncertain domestic and global macro-economic scenario. (ET) Welspun Group has won a 125-MW solar photovoltaic project in Madhya Pradesh. (BS)
After snapping a five-day losing streak in the previous trading session, the Indian markets on Wednesday resumed their fall. The drop was quite sharp amid no sign of resolution to the Greek political crisis, which has triggering a global sell off. Asian stock indices finished sharply lower, as the undertone continued to be shaky amid concerns that political instability in Greece could lead to fresh economic turmoil in the debt-stricken eurozone nation. Fears are also mounting that Greece may eventually have to leave the currency bloc, further denting the prospects for global economic growth. European stock indices too extended losses today on mounting worries about a possible exit from the euro currency bloc. The FTSE index in the UK was down 1%, while the DAX index in Germany slipped 0.7%. The CAC index in France managed to rebound and was trading slightly higher. The Dow industrials ended near a four-month-low on Tuesday as investors continue to shun risky assets and are instead taking a refuge in the US dollar and treasuries.
The serenity of mind, gentleness, silence, self-restraint, and the purity of mind are called the austerity of thought." - Bhagavad Gita. The all-pervasive message at the moment is: fix Greece and the world will be a better place to live. News of fresh election in Greece has raised worries of its exit from the euro and broader financial meltdown. Already there are reports of run on bank deposits. US stocks declined as worries over Greece overshadowed encouraging economic data. Fed policy makers are somewhat worried about US outlook, have hinted at further easing. European stocks closed mostly in red. Asian markets are flat to indecisive.
The Indian markets are expected to begin the session on a positive note tracking supportive Asian markets. SGX Nifty is trading 19.50 points higher. Events for the day: Results: Bajaj Auto, Bajaj Holdings & Investment, Jaypee Infratech, Jaiprakash Power Ventures, United Breweries. Headlines for the day: Federal Bank launches debit cards for HNIs. SpiceJet may deploy Q400 planes in north India. 3 striking AI pilots resume duty, stir continues on day 9.
Speciality Restaurants, promoted by Mr. Anjan Chtterjee and Suchanda Chatterjee, is a fine dining operator with 49 Company owned and operated restaurants, 20 Franchisee and 13 confectionary outlets spread across 20 cities in India and one in Bangladesh. The promoters had launched the network in 1992 under the name Only Fish (later renamed to Oh! Calcutta). First Mainland China restaurant was launched in 1994. Most of tits restaurants located in Metros and Tier 1 cities and it continues to expand its operations in these places and opportunistically in Tier II cities. In future it seeks to expand mainly through ownership and opportunistically through franchising on a Franchisee Owned Company Operated (FOCO) model across India as well as certain international destinations. The FOCO model allows it to enter and operate in markets, which it may not otherwise exploit particularly in to the Tier II cities. Also, the majority of its restaurants are located in western India, which has the highest proportion of people dining out regularly. The Company's flagship brand Mainland China serves Chinese cuisine in a standalone fine dining setting. Chinese is one of most popular foreign cuisines in India. The Company has 36 Mainland China restaurants across India as well as one in Bangladesh. Notably, the revenues contribution from Mainland China is steadily improving from 53.27% in FY'09 to 61.23% in FY'11. It believes that maintaining and enhancing the Mainland China brand is important for maintaining competitive advantage. Also, the brand Oh! Calcutta encompassed seven restaurants across India as well one in Bangladesh. This brand features a range of cuisines from the east India city of kolkata, including the Bengali, Nawabi, British and continental cuisines served in a fine dining setting. The other restaurant brands it owns are Sigree, Flame & Grill, Haka, Just Biryani, KIBBEH, Kix, Machaan, Shack as well the confectionary brand Sweet Bengal. It has consistently improved its revenues and earnings with expanding network of restaurants. The Company increased owned and operated 30 restaurants as on 31st March 2008 to 45 as of 31st March 2011 and further to 49 as of February 29th 2012. Also, the franchise based restaurants from one as of 31st March 2008 increased to 18 as of 31st March 2011 and further to 20 as of February 29th 2011. The revenues increased by 34% to Rs 173.16 crore in FY'11. The Revenue split across the brands in FY'11 was: Mainland China (60.3%) followed by the Oh! Calcutta (12.3%), Sigree (9.5%), Flame & Gril (5.1%), Machaan (4.1%), Haka (3.8%) and others (4.9%). The restaurants in western India has contributed 39% of revenues in FY'11 and 41% of revenues for the nine months ended December 2011. Also, number of guests served were at 2.59 million for FY'11 and 2.09 million in nine months ended December 2011 with an average 7313 and 8127 guests per day respectively. The major portion of proceeds (around Rs 131.60 crore) is proposed to be utilized for opening of 45 New Restaurants for next three fiscal years FY'13, FY'14 and FY'15. Of this, Rs 92.27 crore is planned to be spent towards interior and equipment costs. In addition, Rs 15.1 crore is proposed to be utilised for the development of food plaza in Rajarhat, kolkata, West Bengal. Going forward, The company plans to maintain a tight basket of brands with a focus on Mainland China brand, while targeting a few new market segments. It may introduce new products to adapt to dining trends, shifts in guest spending and tastes and nutrition preferences. Strengths: It has well recognized brands Mainland China and Oh! Calcutta brands with experience of over 17 years. Diversified business model with Mainland China (offers authentic Chinese cuisine), Oh! Calcutta (diverse traditional cuisines), Sigree (authentic Indian cuisine), Flames&Grill (serves Kebabs), Machaan (traditional Indian dishes & children dishes) etc. "Asset light model" as all the restaurant properties are leased. The strong process established over the past 12 years for the quality control, brand standards, operations monitoring and food and service audits. Presence in key strategic locations Weaknesses: The fine dining sector of the restaurant industry is highly fragmented and competitive. The slowdown in the economy could impact the business. Rising property rentals Valuation: Over the last three years (FY08-11), the company's revenues have increased at a CAGR of 27% and reported net profit at a CAGR of 47%. The revenues increased by 34% to Rs 173.16 crore in FY'11. OPM increased to 22% (improved by 150 bps YoY). Accordingly there was robust 44% growth in operating profit to Rs 38.15 crore. There was sharp rise in other income (100%) and marginal decline in interest cost (3%), partly offset by the increase in depreciation (25%). Eventually, PBT grew by 69% to Rs 24.08 crore. After the rise in effective tax rate by 130 bps to 33.5%, there was 66% growth in PAT to Rs 16.02 crore. After adjusting for prior period items, adjusted PAT increased 40% to Rs 15.63 crore. For the nine months ended December 2011, Revenues stood at Rs 149.70 crore with OPM of 20.9%, PAT was Rs 15.02 crore for the same period. At the issue price of Rs 146-155, the P/E works out 43-45 times the FY'11 EPS Rs 3.4 (on post-IPO equity). There is no comparable listed player focused on fine dining. However fine dining is part of Food Service sector of which Jubilant Foodworks is a listed player trading at FY 2011 P/E of 103. Jubilant Food's brand, business model and prospects are more robust than that of Speciality Restaurants. Due to rising urbanization and nuclear families, growing young population, growing number of working women, increasing preference for dining out/ eating outside food and changing food habits away from traditional food, the Food service sector offers excellent growth potential. But there is scarcity of listed stocks in this sector. Hence valuations of such stocks will remain high.
The market may edge higher in early trade tracking mostly higher Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 33 points at the opening bell. Bajaj Auto announces FY 2012 results today, 17 May 2012. Marico said after market hours on Wednesday that it has allotted a total of 2.94 crore equity shares at Rs 170 per share on preferential basis to Indivest Pte., an affiliate of Government of Singapore Investment Corporation, and Baring India Private Equity Fund III Listed Investments. Indivest Pte was allotted 2.2 crore shares and Baring India Private Equity Fund III Listed Investments was allotted 73.52 lakh shares.
Tuesday, May 15, 2012
NTPC fell 2.87% to Rs 143.60 at 15:25 IST on BSE, with the stock extending 5-day 5.49% slide triggered by the state-run power generation firm slashing its capacity addition target for the next five years. Meanwhile, the BSE Sensex was up 99.87 points or 0.62% to 16,315.71. On BSE, 4.61 lakh shares were traded in the counter as against average daily volume of 1.50 lakh shares in the past one quarter. The stock hit a low of Rs 142.60 so far during the day, which is a 52-week low for the counter. The stock hit a high of Rs 147.45 so far during the day. The stock had hit a 52-week high of Rs 192.30 on 8 July 2011.
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price ** 15/5/2012 524412 Aarey Drugs JBSHARES & STOCKS LTD B 114996 21.56 15/5/2012 524412 Aarey Drugs JBSHARES & STOCKS LTD S 123531 20.20 15/5/2012 511706 Action Fin SOMYA TRADERS PVT LTD B 51000 37.00 15/5/2012 530581 Ekam Leasing GAJRAJ JAIN S 57800 33.00 15/5/2012 524830 Elder Health M.PRASAD & CO LTD B 26221 102.45 15/5/2012 524830 Elder Health NIRMALA SHASHIKUMAR SAVADEKAR S 21000 101.50 15/5/2012 500142 FGP UNIVERSAL INDUSTRIAL FUND LIMITED B 225000 2.62
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks 15-MAY-2012,ORCHIDCHEM,Orchid Chemicals Ltd.,CPR CAPITAL SERVICES LTD.,BUY,660802,126.48,- 15-MAY-2012,ORCHIDCHEM,Orchid Chemicals Ltd.,QUADEYE SECURITIES PRIVATE LIMITED,BUY,596770,125.47,- 15-MAY-2012,RSSOFTWARE,R. S. Software (I) Ltd.,VIKAS SUBHASH CHANDWANI,BUY,65220,69.16,- 15-MAY-2012,SHILPAMED,Shilpa Medicare Ltd,TANO MAURITIUS INDIA FVCI II,BUY,200000,245.00,- 15-MAY-2012,ORCHIDCHEM,Orchid Chemicals Ltd.,CPR CAPITAL SERVICES LTD.,SELL,606802,126.67,- 15-MAY-2012,ORCHIDCHEM,Orchid Chemicals Ltd.,QUADEYE SECURITIES PRIVATE LIMITED,SELL,596770,125.52,- 15-MAY-2012,RSSOFTWARE,R. S. Software (I) Ltd.,VIKAS SUBHASH CHANDWANI,SELL,65220,69.16,-
Key benchmark indices snapped five-day losing streak as market sentiment improved after data showed foreign institutional investors (FIIs) bought shares for the third day in a row on Monday, 14 May 2012. The barometer index, BSE Sensex, jumped 112.41 points or 0.69%, off close to 40 points from the day's high and up about 205 points from the day's low. The market breadth, indicating the overall health of the market, turned positive from negative in late trade. Index heavyweight Reliance Industries (RIL) was flat for the day after seeing intraday volatility. Indian stocks today, 15 May 2012, snapped 5-day losing streak. From a recent high of 16,912.71 on 7 May 2012, the BSE Sensex had declined 696.87 points or 4.12% in five trading sessions to 16,215.84 on Monday, 14 May 2012. The Sensex has declined 990.56 points or 5.71% in May 2012 so far (till 15 May 2012). The Sensex has gained 873.33 points or 5.65% in calendar 2012 so far (till 15 May 2012). From a 52-week low of 15,135.86 on 20 December 2011, the Sensex has risen 1,192.39 points or 7.87%. From a 52-week high of 19,131.70 on 8 July 2011, the Sensex has lost 2,803.45 points or 14.65%.
The Indian markets were highly volatile in trade today and closed the session in the negative zone. The Sensex down by 77 points and the Nifty fell 21 points after disappointment from rise in inflation. Major Headlines: April Inflation at 7.23% versus 6.89% in March L&T Q4 cons net profit marginally up by 5% Adani Ports Q4 cons net profit at Rs1102.07 cr Adani Power hits 52-week low after Q4FY12 results JSW Steel Q4 net profit declines by 9.67% Indian Indices: The Indian equity benchmarks wiped out all of its morning session gains and closed the session with marginal losses. Monthly Inflation numbers announced came in higher-than -expected, which also weighed on the sentiments. Weak European markets also added to the woes. Major heavyweight draggers were - RIL, HDFC Bank, ICICI Bank, Tata Motors, ONGC, BHEL and HDFC. Today, Nifty futures stopped trading for around half an hour while trading in the cash markets continued normally. On the economic front, Inflation for April 2012 came in at 7.23% versus 6.89% seen in March 2012. April Inflation was higher than the consensus estimate Looking at the earnings front, Larsen & Toubro shot up by 5% as the company reported a better than expected growth of 31.6% year-on-year in its adjusted profit after tax of Rs1,920 crore for the fourth quarter of FY12. The stock closed the session 1.84% higher in trade today. Also the net profit of JSW Steel in Q4 slipped by 9.67% to Rs752.18 crore for the quarter ended March 2012. At end of the day stock was down by 1.20%. Adani Power hits 52-week low after announcing Q4FY12 results, as the company reported its Q4 net profit at Rs290.16 crore for the quarter ended March 31, 2012. Today stock was down by 3.56%. The Sensex closed at 16215, down by 77 points and the Nifty fell 21 points to close at 4908. Market sentiment: The market breadth stood in favour of declines. Of the 2821 stocks traded on the BSE, 1047 (37.11%) rose, 1657 (58.74%) fell and 117 (4.15%) stocks remained unchanged Sectoral & stock screening: Among the 13 sectoral indices, seven sectors closed in red, while remaining six closed in green. Top Gainers: BSE HC which gained by 0.78%, BSE IT rose 0.41%, BSE CD up 0.36%. Top Losers: BSE Oil & Gas which fell 1.69%, BSE Bankex dropped 1.61% and BSE Realty slipped 1.27%. Among 'A' group stocks, top three gainers were- Divis Lab which rose 7.31%, TTK Prestige up by 4.73% and Lupin surged 4.36%. Top three losers were- Astrazeneca Pharma which slipped 7.45%, Strides Arcolab declined 5.85%, and Aurbindo Pharma skid by 5.68%. Global Signals The Asian shares eased on Monday (May 14, 2012) as investors saw more reasons to cut risk after talks in Greece to form a new government failed. A German vote pointed to growing opposition to austerity steps and China took further steps to support its fragile growth. The European shares fell on Monday to a four-month low as Greece's political deadlock and signs of an economic slowdown in China hit riskier assets, and traders and investors said they would avoid European equities as they felt markets could tumble further. The US stock index futures pointed to a lower opening on the Wall Street on Monday, as the Dow Jones and Nasdaq 100 future are trading in negative