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Daily Market Commentary : 4th August 2016

The Indian equity market snapped four-day losing streak and ended higher on Thursday thanks to late buying momentum seen in the realty, auto, telecom and power stocks. The clearance of the GST bill in the Rajya Sabha failed to boost the indices higher indicating that the big event was already factored in. Nifty closed with a gain of mere 6 points at 8,551, while BSE Sensex ended with a gain of 17 points at 27,714.

On the global front, Japan’s Nikkei closed in green, while Hong Kong’s Hang Seng and China’s Shanghai Composite gained 0.4%.

Tata Motors rallied 4.4% to Rs.500.30 after strong July US JLR sales. Jaguar Land Rover sold 9,473 vehicles in July, with a growth of 51.5% compared with 6,253 vehicles in same period last year driven by Jaguar’s recent launches XE, F-Type.

Punj Lloyd jumped 4% to Rs.20.50 after the company informed BSE that Pt Engineering Ltd, subsidiary of the Company has sold its entire shareholding in its wholly owned subsidiary registered in United Kingdom viz Simon Carves Engineering Limited to Engineers and Constructors International, Inc.

Cadila Healthcare soared 6% to Rs.368. The company posted a net profit after taxes, minority interest and share of profit of associates and joint ventures of Rs. 3562 million for the Quarter Ended June 30, 2016 as compared to Rs. 4602 million for the quarter ended June 30, 2015.

Bata India fell 4.4% to Rs.529 on BSE after net profit drop 44% to Rs.50.49 crore on 1.01% decline in total income to Rs.685.69 crore in Q1 June 2016 over Q1 June 2015.

Hawkins Cookers jumped 6.3% after the company reported 94.86% rise in net profit at Rs.9.86 crore for the quarter ended June 30, 2016 against Rs.5.06 crore in the corresponding quarter a year ago.

Ramco Systems shares slid over 16% after the company reported 69.51% fall in net profit at Rs.0.90 crore for the quarter ended June 30, 2016 against Rs.2.95 crore in the corresponding quarter a year ago.

Prakash Industries gained 2.8% after the company secured a Coal Linkage of 53,500 MT per annum for the next 5 years at the base price from South Eastern Coalfields (SECL) in Chhattisgarh. This Linkage is expected to provide long term stability and cost savings in the Company’s Captive Power Plant.

Arvind climbed 3.6% after it reported 11.32% rise in its net profit at Rs.87.45 crore for the quarter ended June 30, 2016 as compared to Rs.78.56 crore for the same quarter in the previous year. The company’s total income increased by 12.13% to Rs.1,489.47 crore for the quarter under review from Rs.1,328.29 crore for the corresponding quarter of the previous year.

Natco Pharma advanced 3.8% to Rs.629 after the company said in a notice to BSE that it received final approval for Generic Tamiflu.

Pricol rose 12.8% to Rs.120 after the company said it reported a net profit of Rs.22.18 crore in June quarter as compared to Rs.1.64 crore a year ago.

Tribhovandas Bhimji Zaveri Ltd 3% to Rs.68 after the company posted 8.8% decline in standalone net profit at Rs.2.47 crore in June quarter as compared to Rs.2.74 crore a year ago.

A total of 32 stocks registered a fresh 52-week high in trades today, whereas 21 stocks touched a new 52-week low on the NSE.

Some of the prominent stocks to log a fresh 52-week high during intra-day are Adhunik Industries Limited, Agri-Tech (India) Limited, Asian Paints Limited, Banco Products (I) Limited, Bannari Amman Spinning Mills Limited, Bedmutha Industries Limited, Birla Cotsyn (India) Limited, Blue Star Limited, Dhampur Sugar Mills Limited, Edelweiss Financial Services Limited, Energy Development Company Limited, Euro Ceramics Limited Garware Wall Ropes Limited, GOCL Corporation Limited, Goldstone Technologies Limited, Gulf Oil Lubricants India Limited, Havells India Limited, Indraprastha Gas Limited.

Indian Bank, Infibeam Incorporation Limited, Jai Balaji Industries Limited, Mahamaya Steel Industries Limited, Manaksia Industries Limited, Natco Pharma Limited, Quess Corp Limited, Shalimar Paints Limited, Shriram Pistons & Rings Limited Sundaram Clayton Limited Tube Investments of India Limited, Viji Finance Limited, Welspun Investments and Commercials Limited, Yes Bank.

Birla Cotsyn (India) Limited, BS LIMITED, Global Offshore Services Limited, J.Kumar Infraprojects Limited,Kalyani Investment Company Limited,KSS Limited,KSK Energy Ventures Limited, Max India Limited, United Spirits Limited, Mindteck (India) Limited, Mold-Tek Technologies Limited.

USDINR trade today down three paise at 66.96 per US dollar.

Out of 1,330 stocks traded on the NSE, 605 declined and 687 advanced today.

Top 5 Nifty Gainers: BHEL (3.14%), ICICI Bank (2.43%), Axis Bank(2.24%), SBI (2.15%) and Tata Steel (1.80%).

Top 5 Nifty Losers: Infosys Ltd. (-0.30%) and Sun Pharma (-0.29%).

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Daily Market Commentary : 4th August 2016


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