Sunday, January 18, 2015

Sensex, Nifty hold early gains; GAIL rises 3%, HUL falls

Equity benchmarks maintained early gains with the Sensex rising 188.91 points to 28310.80 and the Nifty climbing 50.75 points to 8564.55.

The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices rising 1 percent each. Nearly three shares advanced for every share declining on the Bombay Stock Exchange.

Wipro surged 7 percent as the company reported stronger-than-expected results with a constant currency growth of 3.7 percent which is the highest in the last 12 quarters and better than peers. JP Morgan says attractive valuations (14.6x FY16 & 12.9x FY17 EPS) could still give more than 15 percent potential stock return over CY15.

HCL Technologies gained 2.5 percent ahead of board meet on January 28-30 to consider bonus issue. GAIL India surged 3 percent after the management that the company won't have to pay subsidies in the second half of current financial year 2014-15.

However, HUL declined 1.5 percent, retreating from its life-time highs ahead of its earnings today. A poll expects around 10 percent revenue growth of Rs 7,963 crore, operating margins of 17.8 percent and 5-6 percent volume growth YoY in Q3.  

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