Key benchmark indices edged slightly higher at the onset of trading. The barometer index, the S&P BSE Sensex was currently up 19.46 points or 0.07% at 27,960.10. The market breadth indicating the overall health of the market was strong.
The rate of inflation based on wholesale price index (WPI) is seen easing further to 2.1% in October 2014, from 2.38% in September 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil WPI inflation data for October 2014 at 12:00 noon today, 14 November 2014.
Sun Pharmaceutical Industries dropped in volatile trade after Q2 results. Cipla dropped after weak Q2 outcome. DLF advanced after decent Q2 earnings. Tata Power Company declined after reporting reverse turnaroun in Q2. Tata Motors advanced after reporting global wholesales for October 2014.
Asian equities were mixed today, 14 November 2014.
Foreign portfolio investors bought shares worth a net Rs 690.61 crore yesterday, 13 November 2014, as per provisional data.
At 9:16 IST, the S&P BSE Sensex was up 19.46 points or 0.07% at 27,960.10. The index gained 48.37 points at the day's high of 27,989.01 in early trade. The index rose 8.23 points at the day's low of 27,948.87 in early trade.
The CNX Nifty was up 9.80 points or 0.12% at 8,367.65. The index hit a high of 8,368.70 in intraday trade. The index hit a low of 8,360.70 in intraday trade.
The BSE Mid-Cap index was up 24.43 points or 0.24% at 10,126.60. The BSE Small-Cap index was up 41.67 points or 0.37% at 11,201.21. Both these indices outperformed the Sensex.
The market breadth indicating the overall health of the market was strong. On BSE, 751 shares gained and 468 shares fell. A total of 34 shares were unchanged.
Sun Pharmaceutical Industries declined 0.47% at Rs 904.30. The stock hit a high of Rs 920.10 and a low of Rs 893. The company after market hours yesterday, 13 November 2014, reported 15% rise in consolidated net profit to Rs 1572 crore on 13% rise in net sales/income from operations to Rs 4751 crore in Q2 September 2014 over Q2 September 2013. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 18% to Rs 2161 crore in Q2 September 2014 over Q2 September 2013. EBITDA margin stood at 45% in Q2 September 2014, higher than 44% in Q2 September 2013.
Dilip Shanghvi, Managing Director of the Company said: "We remain focused on strengthening our existing businesses and developing a differentiated and specialty product basket as well as planning for the Ranbaxy integration. We also continue to review opportunities to expand and strengthen our global footprint".
Cipla lost 0.58% at Rs 620.50. The stock hit a high of Rs 624.85 and a low of Rs 612.55. The company's consolidated net profit declined 16.58% to Rs 298.68 crore on 7.06% growth in total incomet to Rs 2790.59 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
DLF rose 2.27% at Rs 142.05 after consolidated net profit rose 9% to Rs 109.06 crore on 4% decline in total income to Rs 2135.59 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
Tata Power Company lost 3.27% at Rs 85.85 after the company reported a consolidated net loss of Rs 78 crore in Q2 September 2014, compared with net profit of Rs 75 crore in Q2 September 2013. Revenue declined 4.23% to Rs 8394 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
Commenting on the Company's performance,Mr. Anil Sardana,CEO & Managing Director, Tata Power said, During the second quarter of FY15, the company reported robust operational performance by its businesses maximizing shareholder value. In this quarter, we have successfully received the distribution and transmission license for Mumbai for the next 25 years. This would help us to continue to empower the Mumbaikars with their 'Right to choose' the best service provider while helping us set consumer service and cost efficiency benchmarks in the power distribution business. We are working on additional roll-out plan for customer acquisition across Mumbai.
Tata Motors rose 1.27% at Rs 532.95. The company after market hours yesterday, 13 November 2014 said that the Group global wholesales in October 2014, including Jaguar Land Rover, were 82,026 units. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in October 2014 were 32,049 units. Global wholesales of all passenger vehicles in October 2014 were 49,977 units. Global wholesales of Tata Motors' passenger vehicles in October 2014 were 11,790 units. Global wholesales for Jaguar Land Rover for the month were 38,38,187 units.
Tata Motors is set to announce Q2 September 2014 earnings today, 14 November 2014.
Asian equities were mixed today, 14 November 2014. Key indices in Hong Kong, Taiwan, Singapore, and Indonesia were up 0.02% to 0.24%. Key indices in China, Japan, and South Korea were off 0.15% to 0.89%.
US stocks closed slightly higher yesterday, 13 November 2014, but a continued sell-off in energy stocks, due to falling oil prices, weighed on the S&P 500.
In US, more workers quit their jobs in September as hires reached their highest level in nearly seven years, the Labor Department said yesterday, 13 November 2014. Hires increased to a seasonally adjusted 5 million, a level last seen in December 2007. Quits rose to a seasonally adjusted 2.8 million in September from 2.5 million in the previous month, data showed.
Federal Reserve Chair Janet Yellen yesterday, 13 November 2014 said that the growing globalization of financial markets requires the Federal Reserve to understand how economic developments in other nations may affect the US economy. Yellen said the Fed needs better insights into things such as global capital flows to achieve its domestic objectives of maximum employment and price stability. Yellen's remarks came at the start of a two-day conference sponsored by the Fed, the European Central Bank and the Federal Reserve Bank of New York.
Powered by Capital Market - Live News
