Market ends in green on July F&O expiry; Nifty settled above 8400:
Market gains for the second consecutive session on the day of July series F&O expiry after the government today cleared important changes to the government's constitutional amendment Bill on the proposed national GST (goods and services tax) This positive news lifted Sensex and Nifty half a percent higher, Nifty finally managed to close above 8400 mark.
HEADLINES FOR THE DAY:
- Logistics stocks like Gati gains as govt clears tax amendment bill.
- Cipla shares moved higher as (partner) Sandoz gets nod for key generic.
- Crompton Greaves gains nearly 3% as wins new contract in Portugal.
- TVS Motors gains on the back of future growth plans
KEY STOCKS FOR THE DAY:
- HDFC shares moved higher after the bank said it gets nod from its board to raise upto Rs 5000 crore via secured redeemable non-convertible debentures and warrants to qualified institutional buyers.
- Sun Pharma shares fall in a positive market, according to media reports; the company is planning to reduce staff in R&D division.
- Essar Oil Managing Director & CEO L K Gupta today said that company received a nod from stock exchange (NSE and BSE) to delist its shares.
- IndusInd Bank moved higher today after the bank told that it has launched an Internet Payment Gateway for enabling online acceptance of credit/ debit and prepaid card.
- RESULTS BLOG:
- Shares of Colgate Palmolive fall in a positive market as company quarter one profit dips 15 percent, which stood at Rs 114 crore against 134.91 crore same quarter last year.
- ITC shares gains after the company reported missing street expectation numbers, Q1 profit up by 3.6 percent at Rs 2265 crore but revenue drag by 7 percent.
- NTPC ends on a flat note, net dips 3 percent in the April-June quarter 2015 which stood at Rs 2135 crore loss due to fall in gross generation.
- Shares of Dena bank gains despite of negative news in the market; Bank reported an 81 percent fall in q1 net profit on the back of higher provisions as well as NPA increased.
- Dr Reddy's shares moved higher more than five percent today after Pharma Company reported a 14 percent rise in net for the Q1 at Rs 626 crore profit led by US & India biz.
- STAR reported more than double net profit this quarter at Rs 42 crore compared to Rs 19 crore reported same month last year.
- Shares of IDFC fall in an otherwise market as reported 46 percent drop in Q1 at Rs 241 crore.
- Shares of Jyothy Lab fall despite of positive market and news flow in the market, as the company reported marginal up in Q1 profit at Rs 45 crore against Rs 42 crore.
- Oriental Bank of Commerce (OBC) gains more than 4 percent despite of negative quarter one number on the back of higher provisioning for bad debt or non-performing assets (NPAs).
- Bank of Baroda gains after the bank reported better than expected Q1 numbers.
- IPCA Lab Q1 net drop 86 percent at Rs 19 crore company reported 136.74 crore of profit same quarter last year.
- Kotak Bank quarter one net profit dips 26 percent stood at Rs 516.60 crore against 698.3 crore for the same quarter last year asset quality worsens.
CALLS FOR NEXT TRADING SESSION:
- SRF had given breakouts of all its resistance and managed to closed above it, More buying seen as it ends with a Big bullish candle with huge volumes in stocks. Buy above 1387 targets 1400.80/1414.90/1429 SL 1373.
- Asian Paints trading near its resistance breakouts could be seen in the next trading session. Buy above 869.70 targets 878.40/887.40/869 SL 861.
NEWS TO WATCH OUT:
- Watch out for the Quarterly numbers APLLTD, CESC, Den, ICICI Bank, Raymond, Sriram Transport, Sun TV, Titan etc on Thursday i.e. on 31st July 2015.
Daily News Alerts (DNA)
Indian markets look positive today over positive signal coming up from the FOMC meeting in the US over no increase in interest rates soon. Among corporate announcements, IDFC, ITC, Bank of Baroda, Dr Reddy's Laboratories, Kotak Mahindra Bank and NTPC announce Q1 results today. Kotak Mahindra Bank looks positive; FM allows it to raise more funds through FPIs. RIL likely to sell US shale gas holdings, which will bring in additional cash to the company. Comex Gold is most likely to move downwards after going below USD 1094. Crude is expected to remain stable for a while.
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