Metal Players of the India Stock Market!

Steel Authority of India (SAIL) is an India-based steel making company that has five integrated steel plants and three alloy steel plants. Despite a 12 per cent increase in the quarterly profit, Steel India NSE has missed expectations with lower sales.

Steel Authority of India has reported a drop in the net sales to 106.63 billion rupees as compared to a year earlier. The low operating margins have been attributed to increase in the fuel costs, increase in other expenses, and higher wage expenses. In contrast to the estimated net profit of 7.3 billion rupees for the quarter ending September, SAIL has said that the net profit rose to 5.43 billion rupees.

Another player in the metals market is Sterlite Industries India Ltd, which is a non-ferrous and mining company that operates in three segments; Phosphoric acid, copper, and other business segment. India’s Sterlite NSE plans to raise 5 billion rupees by a bond issued at 9.40 percent. The Indian metal producer will issue 10-year bonds, available at Axis Bank, with an option to end after a period of 5 years.

ICICI Bank and IDFC on NSE performance statistics

Markets are favorable today for bank and realty stocks in the morning trade (22 November); thanks to reform hopes. The positive domestic opening of the indices of the Indian bourses is also triggered by improved Asian cues. With the winter session of the Parliament to begin today, investors are waiting for some optimistic news that would boost economic growth. Not all banking companies are in the uptrend. ICICI Bank on NSE saw its shares falling while IDFC on NSE was in an upbeat momentum. 

At 10:43 am, price of ICICI Bank NSE stocks was Rs. 1044, which was down 0.45 or .04 percent. Volume of shares traded was 453,209. While the previous close was at Rs. 1044.45, it opened at Rs. 1045.50. Difference noticed between bid and offer price of ICICI Bank NSE stocks was by .05 paise at Rs. 1043.95 for 10 and Rs. 1044 for 149 respectively.

IDFC NSE stock was priced at Rs. 102.25, which was up Re. 1.00 or +0.99 percent. Volume of shares traded was 545,007. The previous close saw its price closing at Rs. 101.25; it opened at Rs. 101.05. The difference noticed between bid and offer price of the stocks was by 0.05 paise.

Cairn India and Cipla on NSE

As the day advances, stock market results change too either in the positive or negative. The early morning trade saw both the sensex and nifty exhibiting a lackluster trend and by pre-noon caught the uptrend momentum. At 11.37 a.m., the sensex was up 86.67 points at 18,415.99 while the nifty was up 23.50 points at 5595.05. Cause of the uptrend is a blend of firming Asian markets and gains in stocks of IT, oil and gas, and metal sectors.

Though oil stocks gained on an average, Cairn India NSE could not catch the momentum. The company’s shares went down by 1.07 per cent at 11.41 am, i.e down Rs. 3.55 to be perched at Rs. 328.10. The previous close price of Cairn India NSE stocks was Rs. 331.65 and it opened at Rs. 332. A difference of 0.10 paise was noticed in the bid and offer price at Rs. 328.00 for 100 and 328.10 for 18 respectively.

The pharmaceutical sector showed mixed results with Cipla on NSE perched at Rs. 386.50 at 12:10 pm, up Rs. 6.65 or +1.75 percent. Volume of shares traded was 1,159,957. While the previous close was Rs. 379.85, it opened at Rs. 380. The difference between bid and offer price of Cipla NSE shares was 0.15 paise.

TCS and Tata Motors on NSE

Can you expect the stock market to be bullish everyday? Such a situation would never occur. Bearish and bullish trends are but humdrum affairs in any stock market. As of November 20 market statistics, the nifty moved up marginally by 0.15 points while the sensex ended losing 10 points. But amid the volatility, Tata Consultancy Services on NSE and Tata Motors on NSE exhibited a bullish trend with buyers driving the price of these shares higher.

Volume of shares of Tata Consultancy Services NSE traded was 628,020. At 17:00 hours, the price was at Rs. 1272.80. It rose by Rs 10.45 or +0.83 percent. Previously the price closed at Rs. 1262.35 and it opened at Rs. 1275. The bid price was Rs. 1272.80 for 11794 shares. The day’s low and high prices were Rs. 1256.05 and Rs. 1282.90 respectively. According to the 52 week price change dynamics, the lowest witnessed was Rs. 1041 and the highest Rs. 1439.80.

Price of share of Tata Motors NSE was Rs. 266.10, up Rs. 2 or +0.76 percent. Volume of shares traded was 6,864,096. While the previous close was Rs. 264.10, it opened at Rs. 268.05. The day’s low and high price tags were Rs. 261.70 and 270.35 respectively.

Bharti Airtel soaring high on the spectrum!

The stock price of Bharti Airtel rose almost 2.3% as brokerage firms recommend buy for India's number one telecom service provider. Bharti airtel stocks have gained in the choppy market where other stocks have majorly lackluster.
Bharti shares have so far in the month of November gained 15% and last week proved to it's best inning since september as it's shares surged 9.3% after the 2G Spectrum auction failed to get buyers at the anticipated costs. As on Monday 19th November, the stock has hit a low of INR302.5 and an intraday high of INR311.1

Bharti Airtel definitely seems to be wooing traders after agencies like Credit Suisse and Goldman Sachs upgraded Bharti Airtel from 'underperform' to 'outperform' and from 'neutral' to 'buy' respectively. Both brokerage agencies opine that regulatory risk is reduced in case of Bharti Airtel and the potential of tariff hike is high with reduced competition on the domestic front as telecom operators are focusing on reducing losses.

Wipro’s Q2 Profit Rose to 24% Beating the Estimates

The profit for Wipro, ranked as India’s no. 3 software service provider, rose to 24 per cent at 16.11 billion rupees, which has exceeded the estimates by analysts. In view of the trend, the forecast for the company’s revenue would rise to 1.3-3.2 per cent for quarter ending December.

Wipro has added 53 new clients for the IT services during the second quarter of fiscal year. A year earlier, the Q2 revenue of the software tycoon rose to 17 per cent at 106.57 billion rupees.

Wipro Ltd has stated that all its non-IT services will be folded to a new firm focusing on outsourcing. This will include the company’s medical diagnostics and consumer care services as well. The step is taken in an effort to promote growth in view of competition from local and global rivals. In order to speed up the growth amongst peers, Wipro’s chairman Azim Premji also replaced company’s two co-CEOs.

Potential Gains indicated for RIL with Appointment of New Oil Minister

Veerappa Moily has replaced Jaipal Reddy, the ex oil minister as a part of the recent reshuffle of cabinet unveiled on Sunday. Mr. Moily promises to make an efficient effort to encourage foreign investment in addition to pushing Indian oil companies to assertively bid for foreign oil and gas to cover up the growing demands of energy.

Reliance Industries, controlled by Mukesh Ambani, had clashes with ex oil minister over the issues related to gas production at its KG-D6 block in Andhra Pradesh. Reliance Industries Ltd. along with its partner Bharat Petroleum sought a hike in the prices of gas to cope with the rising expenditure to develop the block. Mr. Moily has promised to take quick and detailed decision though he has declined to address the matter specifically.

The shares of Reliance Industries Ltd. rose, with the appointment of new oil minister, to nearly 2 per cent in view of the potential improvement in the relationship between government and RIL.

Mukesh Ambani - Reliance Industries Ltd - Tops the Forbes List!

Mukesh Ambani, chairman of Reliance Industries Ltd, with a wealth of $21 million, has emerged as India’s richest man for the fifth consecutive year, according to Forbes India annual rich list. Lakshmi Mittal has been ranked second despite the loss of $3 million in net worth since last year. Dilip Shanghavi, chairman of India’s biggest drugmaker Sun Pharmaceuticals Ltd., has been the biggest climber with an entry in top five.

Mr. Ambani has maintained the position despite the loss of 7 per cent market value by Reliance Industries Ltd. Mukesh Ambani of RIL has beaten steel tycoon Lakshmi Narayan Mittal and technology czar Azim Premji to top the list.

The 100 richest Indians saw an overall fall of worth which is 20 per cent to $241 billion in one year. The Forbes list consisted of 57 billionaires. According to Forbes, the collective wealth of India’s 100 richest people rose to $250, which is an increase of 3.7 per cent.

The Reliance Industries Ltd shares have been trending fair in the highly volatile share market.

Infosys - A series of disappointing qtrly results!

Can you expect India’s IT bellwether performing below expectations? Not always! In a volatile market, both big and small companies move according to the tide. But Infosys disappointed investors on October 12 when its shares went down below expectations, i.e. by almost 9 percent. The software services provider, which has been in the good books of investors for years together, has been delivering since January this year, a sequence of disappointing growth targets.

What Infosys Q2 results forecasted about its estimated growth rate at 8-10 percent was soon cut to 5 percent, surprising analysts and investors alike. No wonder the firm lost market shares to TCS, its local rival after reporting for the quarter ended September 30, weaker-than-expected operating margins. As per internal statistics in terms of client addition, Infosys exhibited its slowest pace of addition in six quarters, adding only 39 clients in the latest quarter. But a positive atmosphere still prevails!

S&P warning, slashing car industry... what's in store India Inc.?

Economic reforms have no wonder provided respite to India’s downgrading economy. The couple of reforms introduced in September saw both the indices of the Indian bourses exhibiting a positive uptrend momentum. But Standard & Poor rating agency’s warnings seem to dampen the spirits of investors. According to the credit rating agency, within the next two years, India still faced a one-in-three chance of a credit rating downgrade. The warning will turn true if the bad political climate further worsens, if fiscal reforms are sluggishly implemented, if external position declines, and if growth prospects go dim.

To add to the downgrade scenario is the once-booming car industry growing just 1 percent to 3 percent in the current fiscal year. In March 2011 fiscal, India saw car sales growing more than 20 percent. Slow economic growth rate and high interest rates are the principal causes of the slashed car sales growth. Until the economy comes back to momentum, this slashing trend may well continue.

DLF Ltd. shares drop on accusations by Kejriwal!

Scams and accusations do have their negative impacts on stock performances. DLF shares dropping after anti corruption activists Kejriwal and Prashant Bhushan accused DLF for improper dealings with Robert Vadra the son-in-law of the high-flying politician family, Smt. Sonia Gandhi, well corroborates the fact.

As of October 8, in the morning trade at 10 am, DLF Ltd. shares dropped by 3.8 percent. The dropping momentum continued with shares further dropping to 5.08 percent, i.e. by Rs. 12.30 at 11.30 am. This is against a backdrop of both the indices of the Indian bourses - sensex and nifty falling moderately.

DLF denied the allegations and claims made by the India Against Corruption team, saying its business relationship, as has been its practice for all of its business activities, is transparent and adhere to the highest standards of ethics. Robert Vadra countered the accusations too deeming it ‘utterly false, entirely baseless and defamatory’. It is to wait and watch what future has in store for DLF and Robert Vadra!

Sensex Hits 19K mark - Thanks to Government Reforms!

Market analysts and investors are all cheers; thanks to the rising sensex and nifty at a hypersonic pace. It is all because of implementation of reforms that has seen the sensex and nifty recovering fast. If such an uptrend pace prevails, in no time will markets regain the highest points ever gained months ago. Hopes of additional fiscal and economic reforms by the government have set the ball rolling.

 

To add to the upbeat market trend is the rupee hitting the five and half month high. This is again a result of possible announcement by the government of reforms measures. Opening the pension sector to foreign investors and raising cap on foreign direct investment in insurance firms are the boosting factors. These bills are all set to be approved by the Cabinet. And once they are approved, further rise of the rupee, sensex, and the nifty is expected. Hope to see some more reforms introduced in the near future by the government to revive the falling economy of India Inc.