Market summary pptx 22.7.2013


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Market summary pptx 22.7.2013

  1. 1. India-GlobalMarketSummary 22-7-2013 • Market closed flat after trading volatile. The market, which jumped in early trade, wiped off intraday gains in late trade after weak Q1 results from engineering & construction major L&T sent capital goods shares tumbling. The market breadth, indicating the overall health of the market, was negative. Sensex rose 0.05% to 20,159.12 and Nifty rose 0.04% to 6,031.80. Among the 30-share Sensex pack, 19 stocks rose and rest of them fell. • Engineering & construction major L&T tumbled over 7% after reporting weak Q1 results. Weak Q1 results from L&T had ripple effect on shares of power equipment major Bharat Heavy Electricals (Bhel), which also fell sharply. Reliance Industries (RIL) declined after Q1 results. Asian Paints dropped after the company reported weak Q1 result at the fag end of the trading session. IT major TCS scaled record high. Housing Development Finance Corporation (HDFC) edged higher after the company reported good Q1 results on Friday, 19 July 2013. Among metal stocks, Tata Steel hit 52-week low. • L&T fell 7.46% after company reported weak Q1 results. The company's net profit declined 12.46% to Rs 756.03 crore on 3.69% growth in total income to Rs 13027.66 crore in Q1 June 2013 over Q1 June 2012. L&T's order inflow jumped 28% to Rs 25159 crore in Q1 June 2013 over Q1 June 2012.
  2. 2. • Asian Paints consolidated net profit fell 4.57% to Rs 275.20 crore on 11.6% growth in income from operations to Rs 2841.10 crore in Q1 June 2013 over Q1 June 2012. • Wockhardt t has received a warning letter from the USFDA listing the observations made by it during its earlier inspection of Wockhardt's Waluj facility near Aurangabad. • Wockhardt said that the company continues to cooperate with USFDA to resolve the issues at the earliest. • Federal Bank's net profit declined 44.49% to Rs 105.66 crore on 12.52% growth in total income to Rs 1869.05 crore in Q1 June 2013 over Q1 June 2012. • Federal Bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.91% as on 30 June 2013, as against 0.98% as on 31 March 2013 and 0.62% as on 30 June 2012. • Bajaj Holdings & Investment rose 2.37% to Rs 793.50 at 10:18 IST after consolidated net profit surged 27% to Rs 443 crore on 93.15% growth in net sales plus other income to Rs 141 crore in Q1 June 2013 over Q1 June 2012. • Unichem Laboratories lost 3.18%, with the stock extending Friday's 5.61% slide on disappointing quarter result • Unichem Laboratories' net profit rose 8.9% to Rs 36.09 crore on 0.26% growth in total income to Rs 265.57 crore in Q1 June 2013 over Q1 June 2012. • JK Paper lost 1.56% after net profit declined 90.2% to Rs 1.38 crore on 2.9% growth in net sales to Rs 354.66 crore in Q1 June 2013 over Q1 June 2012. • Housing Development Finance Corporation advanced 2.77%, with the stock reversing post result slide after reporting steady Q1 results • Balrampur Chini Mills fell 3.95% as the stock turned ex-dividend today, 22 July 2013, for dividend of Rs 2 per share for the year ended 31 March 2013.
  3. 3. Global news • European stocks rose for a fourth day on Monday extending a seven-week high ahead of data on house sales in the US. Asian markets edged higher on Monday after China removed a floor on banks' lending rates and after Japan's ruling government regained control of the parliament's upper house, raising hopes for further reforms in both economies. Trading in US index futures indicated that the Dow could see a flat opening on Monday, 22 July 2013. US stocks closed mixed on Friday, 19 July 2013. The S&P 500 index eked out gains to end at another all-time high on Friday, 19 July 2013 while losses for the technology sector weighed on the Dow Jones Industrial Average and the Nasdaq Composite after disappointing earnings from Advanced Micro Devices Inc. and Microsoft Corp • A day after his party won a resounding victory in national upper-house elections, Japanese Prime Minister Shinzo Abe on Monday, 22 July 2013, said that the government's top priority remains rebuilding the economy. Calling the Liberal Democratic Party's (LDP) win "a supportive push" from voters for his economic policies of easy money, massive government spending and deregulatory reforms, Mr. Abe said he would continue to implement growth policies, including tax cuts on capital investments. • Meanwhile, the People's Bank of China removed a floor on banks' lending rates, according to a July 19 statement. China currently caps the interest rates that banks pay on deposits, a factor that often pushes savers toward riskier investments in search of higher returns.
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