3:30 pm Market end:
It was a difficult day for traders as bears
rampaged the street with blood. Snapping 10-day of winning streak, the Nifty
retreated from a kissing distance of 9000. The 50-share index ended first day
of February F&O series at 8808.90, down 143.45 points or 1.6 percent. The
Sensex slumped 498.82 points or 1.7 percent at 29182.95. About 1258 shares have
advanced, 1609 shares declined, and 246 shares were unchanged.
Banks played spoilsport as Bank Nifty lost over 3
percent, dragged by ICICI Bank, SBI, HDFC twins and Axis Bank. Other losers in
the Sensex were Dr Reddy's Labs and Coal India.
Tata Power remianed big gainer of the day (up 4
percent), while BHEL, NTPC, Sesa Sterlite and Wipro lead the Sensex.
3:20 pm Result: Dabur India
matched street expectations on Friday with the third quarter consolidated net
profit rising 16.4 percent year-on-year to Rs 282.8 crore.
"Dabur India ended the third quarter of
2014-15 with strong growth in its key categories of health supplements, hair
care, toothpastes and home care. The growth was despite a challenging business
environment and continued softer consumption trend across the industry,"
said the FMCG major in its filing.
Consolidated net sales grew 9.2 percent to Rs
2,074 crore during October-December quarter from Rs 1,899.6 crore in the
year-ago period.
Toothpaste business for Dabur grew 19 percent
during the quarter and home care business reported an over 16 percent growth
while health supplements business grew 13.5 percent.
3:10 pm 3G spectrum auction: Government
has issued details for auctioning 5 Mhz of 3G spectrum across 17 out of 22
service area at a pan-India base price of Rs 3,705 crore per megahertz. The
quantum of spectrum in 2100 Mhz band (3G) being put for auction is 75 percent
less than the quantum recommended by telecom regulator TRAI and demanded by
industry. In the latest amendment to notice inviting application for spectrum
auction set to start from March 4, the DoT has said that only one entity will
be able to win 3G spectrum in one service area.
One block of 5 MHz has been put for auction in
all service areas except Jammu & Kashmir, Bihar, Himachal Pradesh, West
Bengal and Punjab. This amounts to a total of 85 MHz from which government
estimates to garner Rs 17,555 crore. Of this a sum of Rs 5,793 crore is
expected to be realised in the current financial year.
3:00 pm Restructing: Adani
Enterprises, the flagship of the USD 9.4 billion Adani Group announced a
complex restructuring of its various businesses.
Under the terms of the recast, Adani Enetrprises
port business will be transferred to subsidiary Adani Ports and Special
Economic Zone, its power businesses to Adani Power(APL), and transmission
business to unlisted Adani Transmissions, which will subsequently be listed.
Also, Adani Mining Private Limited (AMPL), a
wholly owned subsidiary of AEL is proposed to be merged into AEL. The scheme is
subject to approvals from the stock exchanges, Sebi, shareholders, creditors
and the Gujarat High Court.
2:50 pm Market check: The market
is under tremendous pressure with the Sensex falling over 500 points. The
30-share index is down 554.86 points or 1.9 percent at 29126.91 and the Nifty
slips 159.75 points or 1.8 percent at 8792.60. About 1113 shares have advanced,
1663 shares declined, and 246 shares are unchanged.
NTPC, Tata Power, Sesa Sterlite, BHEL and Hero
MotoCorp are top gainers in the Sensex. Among the losers are ICICI Bank, SBI,
Coal India, Dr Reddy's Labs and HDFC.
2:30 pm Coal India OFS update: Coal
India offer-for-sale (OFS) is fully subscribed. The floor price of OFS was
fixed at Rs 358/share, a discount of around 4.5 percent from Thursday closing
price. The government will divest upto 10 percent stake via OFS, by selling
31.58 crore shares with an option to sell additional 31.58 crore share.
Till 1:55 PM , the PSU had recieved bid for 18.8
crore (59.6 percent) of 31.58 crore base size
Don't miss: HCL Tech Q2 net up 2.3%, $
revenue rises 4%, bonus issue at 1:1
The Nifty snapped 10-day winning streak today,
falling below the 8800-mark weighed by banking & financials post
disappointing set of earnings from the ICICI Bank and Bank of Baroda.
The Sensex dropped 518.47 points or 1.75 percent
to 29163.30 and the Nifty lost 157.50 points or 1.76 percent to 8794.85. About
1161 shares have advanced, 1580 shares declined, and 242 shares are unchanged
on the BSE.
ICICI Bank missed street expectations on Friday
with the third quarter net profit rising 14 percent year-on-year to Rs 2,889
crore, impacted by higher provisions. Net interest income (NII ) grew 13.9
percent to Rs 4,812 crore during October-December quarter from Rs 4,225 crore
in the year-ago period. The stock fell 6 percent.
Bank Of Baroda disappointed street on Friday by
reporting a 68 percent (Y-o-Y) decline in profit at Rs 334 crore for quarter
ended December 2014. Higher provisions and tax rate impacted the bottomline.
The stock tanked 11 percent.
No comments:
Post a Comment