END OF THE DAY REPORT (24 April 2015):
Markets remain under pressure; Realty and IT stocks falls, FMCG gains:
Markets fall over 1 percent on the last day of trading session of this week led by IT major Infosys reported weak Q4 numbers. Sensex dips 297 points to end at 27437 while Nifty tanks 93 points end at 8305.
HEADLINES FOR THE DAY:
- Crisil shares dips near around 6 percent erases early gains on profit booking.
- Bharti Airtel and Hero MotoCorp dips on block deals.
- Reliance Capital signs MOU with Samsung Asset Management for strategic alliance.
- Jet Airways dips as much as plans to sell 16 aircrafts including long-haul ones due to slack demand.
- M&M finance gains in early trades as bad loans shrink
KEY STOCKS FOR THE DAY:
- DLF dips on media reports that SC (Supreme Court) issued a notice to the company regarding SEBI (Securities and Exchange Board of India) appeal.
- Crompton Greaves dips as much as after entity of the promoter Group of the company i.e. Avantha Holdings announced the sale of its entire 34% stake worth Rs 2,000 crore which is lower than market expectations.
- Shares of Cairn were under pressure on weak Q4 number as reported net loss of Rs 241 crore due to lower crude oil prices, revenue of the company also dipped by 47 percent to Rs 2677 crore.
- ITC gains as planned to set up four food processing parks in Tamil Nadu with an investment of up to Rs 250 crore each.
- ONGC moved higher by 3% as the company has agreed to conduct tests prescribed by upstream regulator DGH in its Krishna Godavari basin block to confirm 3 important gas discoveries to end a standoff that stalled its USD 8 dollar project.
- GAIL surged has received approval from Haryana govt department in Yamunanagar for laying gas pipeline for supply of gas to its prospective customers in this area.
- Bank dips on concerns that unseasonable rains would lead to severe crop damages as a result of which non-performing loans in the Agri-segment would rise thereby hurting profits.
- Tata Power dips as a company is focusing on overseas projects as its Mundra power plant (4,000 MW) in Gujarat remains stuck in a tariff dispute that has reduced its appetite for domestic projects.
- Suven Life today reported that wins new five product patents in five countries (Australia, Europe, Hong Kong, Israel, Norway) for NCEs (New Chemical Entities).
- Infosys reported a 4.7 percent fall in Q4 net profit, which stood at Rs 3097 crore q-o-q basis. Revenue up by 4.2 percent on yearly basis however dips 2.8 percent quarterly wise. Stock hits fresh three months low on this news flow.
- Shares of Gujrat Gas were under pressure despite of two positive news about the company, Firstly, the Company has reported a 27.2 % rise in Q4 net profit, which stood at Rs 62.67 crore and secondly CCI (Competition Commission of India) closed case of anti-competitive against the company.
- Sasken communication reported a 67.8 % fall in Q4 net profit today on a yearly basis.
SOME STOCKS FOR NEXT TRADING SESSION (Monday):
- Aurobindo Pharma was trading near around its important support level, Below 1265 selling pressure could be seen, its next support is seen near around 1215-1200 while resistance 1345-1375.
- M&M finance gains in early trades today on the positive news of bad loans shrink, Further more buy could be expected buy above 285.30 its next resistance is seen around 290-292 while support 275-270.
- UPL showed good recovery from a lower level and made hammer in daily and weekly charts which indicate more buying from here. Buy above 439.50 its next resistance is seen around 439.50-447.80 while support 423-418.
- In BHEL daily charts it has made a doji which indicates fresh buying as well as in weekly charts we can hammer candle which also supports buying from here, So buy above 237 its next important resistance is seen around 245 while support 222-220.
- European stocks gains as investors eyed the release of German business climate data due later in the day and boosted by strong corporate earnings numbers.
- Australia shares gains led by Metals & Mining, Resources and Materials stocks while China stocks were under pressure led by Financials sectors, Life Insurance and Banking.
NEWS TO WATCH OUT:
- Watch out for the Quarterly numbers of Alembic Pharma, Andhra Bank, Geometric, Granules India, ICICI Bank, JSW Energy, Maruti Suzuki and UPL on Monday i.e. on 27th April 2015.
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