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Wednesday, January 02, 2013
Royal Orchid Hotels surges on board's consent for CDR
Royal Orchid Hotels surged 5.56% to Rs 45.60 at 11:22 IST on BSE after the company said its board has accorded its consent for making reference to the Corporate Debt Restructuring Cell for restructuring the debts of the company. The company made the announcement after market hours on Tuesday, 1 January 2013. Meanwhile, the BSE Sensex was up 155.17 points or 0.79% at 19,735.98. On BSE, 9,137 shares were traded in the counter as against average daily volume of 2,031 shares in the past one quarter. The stock hit a high of Rs 47.35 and a low of Rs 45 so far during the day. The stock had hit a 52-week low of Rs 41.50 on 4 June 2012. The stock had hit a 52-week high of Rs 59.20 on 3 March 2012. The stock had underperformed the market over the past one month till 1 January 2013, declining 2.92% compared with the Sensex's 1.25% rise. The scrip had also underperformed the market in past one quarter, sliding 11.29% as against Sensex's 4.02% gain. The small-cap company has equity capital of Rs 27.23 crore. Face value per share is Rs 10. Royal Orchid Hotels reported consolidated net loss of Rs 12.11 crore in Q2 September 2012, much higher than net loss of Rs 2.22 crore in Q2 September 2011. Net sales declined 0.8% to Rs 35.56 crore in Q2 September 2012 over Q2 September 2011. Royal Orchid Hotels operates 21 business and leisure hotels in 16 popular destinations.
Crisis wards off…Nifty hits 2-year high
The Indian indices extended their gains on Wednesday with the Nifty crossing the psychological 6000 mark intra-day; the last time it touched these levels was in Jan 2011. The Sensex managed to end above the 19,700 mark. The "fiscal cliff" crisis was averted after the House of Representatives approved a Senate bill that raised tax for the rich and delayed spending cuts. Asian Markets were higher on Wednesday. Hong Kong was up 1.91%, while Singapore gained 1.26% and Seoul rose 1.48%. Financial markets in Japan and China were closed for a public holiday. "Nifty continued Tuesday’s momentum and scaled past the 6,000 mark in intra-day trade as indices across Asia rallied on the US fiscal cliff being averted. Sentiment also improved after India's manufacturing activity surged to a six-month high in December 2012. Going ahead, we firmly believe the government policy measures will continue as downgrade fears have not been completely dispelled.This will provide further impetus to the recent rally", says Amar Ambani; Head of Research - IIFL. Wall Street ended higher as Dow Jones finished up 1.28%, the S&P 500 gained 1.69% and the Nasdaq Composite surged 2%. The House voted by 257 votes to 167 to pass the original bill with minority Democrats joining a smaller number of majority Republicans to pass the legislation. The dollar rose to 87.18 yen from 86.69 yen on Monday and the euro strengthened to $1.3272 from $1.3192. On oil markets, New York's main contract, light sweet crude for delivery in February gained 63 cents to $92.45 a barrel. Gold was at $1,677.72 at 0440 GMT compared with $1,658.90 late Friday. Finally, BSE Sensex closed 19714, up 133 points over the previous close. It had earlier touched a day's high of 19756 and a day's low of 19686. It opened at 19693. The NSE Nifty closed at 5,993 up 42 points over the previous close. It earlier touched a day’s high of 6,006 and a day’s low of 5982. It opened at 5,982. The BSE Small-Cap index and BSE Mid- Cap index was trading up at 1%. RIL, SBI, ICICI Bank, Tata Steel, Hero MotoCorp, Sun Pharma, ICICI Bank, NTPC, Bharti Airtel, Sun Pharma, BHEL, HDFC, ONGC, Dr Reddys Lab, Bajaj Auto, Tata Motors, Hindalco Inds, are among gainers in Sensex and Nifty. Infosys, TCS, Wipro, Coal India, HUL, M&M were among losers in Sensex and Nifty. Oil and Gas, HC, PSU, Power, Realty, Metal, Teck, Oil and Gas, Consumer Durables, Bankex, Capital Goods, Metal, are the gainers. Realty, IT, FMCG indices are the losers. The advance decline ratio was in favour of the bulls. 1766 stocks advanced against 1184 declining stocks. Only 151 stocks remained unchanged. The INDIA VIX on NSE shot up down by 0.21% to end at 13.66. It hit a day’s high of 13.91 and day's low of 12.99. Stocks which hit 52-week high during the week were Reliance Cap, Hinduja Vent, Agro Tech Foods, LIC Housing Fin, MRF. Stocks which hit 52 week low during the week were Autoriders Fin, EIH, Geodesic, BCL Forgings, Indiaco Vent. Other Corporate News The seasonally adjusted HSBC Purchasing Managers’ Index posted 54.7 in December, up from 53.7 in November. Finance Minister P. Chidambaram speaking on 14th Finance Commission hinted at a possible hike in gold import duty. FM is mulling over the option as oil and gold import bill weigh heavy on the current account deficit situation of the country. Current account deficit has widened to 5.4% in the September quarter.
Nifty hits 23 month high, Sensex ends above 19700
Key indices ended near day's high as the U.S. House of Representatives approved a deal on the fiscal cliff, sparking broad-based buying. The Sensex rose 133 points while the Nifty shut shop 42 points higher. Headlines for the day: Elecon Engg bags order from NMDC TRAI slashes cable landing charges by 50% BofA-ML revises target price of Tata Motors Union Bank alters FCNR deposits rates Indian Indices: Today, the Indian equities witnessed an extremely strong trading session, the Nifty hit 6000 mark for the first time in 2013, while the Sensex rallied over 19700 led by buying interest in rate sensitive stocks and other sectors. The Indian markets carried forward yesterday's rising trend and ended the second trading session of January 2013 on a strong note. The market breadth was also encouraging for the investors. The total market turnover was at the highest level of Rs3.92 lakh crore. The NSE Nifty touched 23-month high and closed at highest level since January 07, 2011. Movement of the Indian indices for the day: The Indian markets closed on a positive note in today's trade owing to cheerful trading in global markets. Today, the Indian indices stayed higher throughout the day owing to gains in index heavyweights which helped the markets to remain on an upbeat mode. All the sectors were on the buyer's radar except IT and FMCG. The key Indian stock indices accelerated further in the late morning deals, with the NSE Nifty hovering around the 6,000 mark and the BSE Sensex up over 150 points amid broad-based buying. Later, the Nifty touched a high of 6,006, breaching the 6,000 mark for the first time in two years and the Sensex saw a high of 19,757. The rally in Indian Indices also came from strong European cues. The broader markets too ended trade on a positive note. The BSE Midcap index rose by 0.56%, while the BSE Smallcap index was up by 0.90% in trade today. Adding further, the Nifty today breached the 6000-mark for the first time in nearly 23 months on broad based buying after the US House of Representatives approved a rare tax increase, averting the fiscal cliff. The BSE Sensex ended above 19,700; highest since January 07, 2011. On currency front, the Indian rupee rose by 37 paise to trade at fresh two-week high of Rs54.31 against the US dollar in early trade at the Interbank Foreign Exchange. The rise was due to increased dollar selling by exporters and banks amid sustained foreign capital inflows. The Sensex ended at 19714.24, up by 133.43 points, while the Nifty shut shop at 5993.25, up by 42.40 points. Following are the stocks/ sectors which were in news today: 1. Bharat Heavy Electrical Limited ended 2.38% higher as the government imposed 35% safeguard duty on electrical insulators imported from China. 2. Bajaj Auto gained 3.07% after the company said that its total sales in December increased 13% year-on-year to 343,946 units, due to higher demand for motorcycles and rise in exports. 3. KEC International secured new orders worth of Rs1,511 crore in its transmission, power systems and cable business from India, Oman, Nepal and Americas. The stock closed 5.71% higher in trade today. 4. PC Jeweller surged 6.27% in today’s trade, extending its previous day’s over 10% rally on the Bombay Stock Exchange. Market sentiment: The market breadth stood in favor of advances. Of the 3101 stocks traded on the BSE, 1797 (57.95%) rose, 1166 (37.60%) fell and 138 (4.45%) stocks remained unchanged. Sectoral & stock screening: All the 13 sectoral indices closed in the green zone except IT and FMCG which were the only losing sectors down by 0.07% and 0.26% respectively. Top Gainers- BSE CD up by 1.65%, BSE CG rose by 1.40%, BSE Oil&Gas was up by 1.29% Among 'A' group stocks, top three gainers were- Gitanjali Gems rose by 8.09%; Videocon Industries up by 6.47% and JP Infratech surged by 5.73%. Top three losers were- Torrent Power declined by 1.99%, Colgate Palmolive was down by 1.90% and IPCA Labs fell by 1.83%. Global signals: Asian stock markets rose on Wednesday after the US House of Representatives passed a deal to stave off the so-called fiscal cliff. European shares rose across the board at the start of the new year after US lawmakers approved a deal to prevent a fiscal crunch that had threatened growth in the world's largest economy. US stocks were poised to rally on Wednesday in their first session of the New Year after lawmakers passed a bill preventing huge tax hikes and spending cuts that threatened to jeopardize economic growth.
Nifty January 2013 futures at premium
Turnover surges Nifty January 2013 futures were at 6033.95, at a premium of 40.70 points over spot closing of 5993.25. Turnover on NSE's futures & options (F&O) segment surged to Rs 95416.87 crore from Rs 74896.83 crore on Tuesday, 1 January 2013. State Bank of India (SBI) January 2013 futures were at 2468, at a premium over spot closing of 2451.90. United Spirits January 2013 futures were at 2001.50, at a premium over spot closing of 1984.90. Reliance Industries (RIL) January 2013 futures were at 852.40, at a premium over spot closing of 844. In the spot market, the 50-unit S&P CNX Nifty advanced 42.40 points or 0.71% to settle at 5,993.25, its highest closing level since 6 January 2011. The January 2013 derivatives contracts expire on 31 January 2013
Sensex, Nifty attain highest closing level in almost two years
Key benchmark indices edged higher for the second day in a row as stocks rose across the globe after the House of Representatives on Tuesday, 1 January 2013, passed a bill to undo much of the fiscal cliff threatening the US economy which is the world's biggest economy. The barometer index, BSE Sensex and the 50-unit S&P CNX Nifty, both, attained their highest closing level in almost two years. The Sensex jumped 133.43 points or 0.68%, off close to 40 points from the day's high and up about 30 points from the day's low. The market breadth, indicating the overall health of the market, was strong. Indian stocks rose for the second straight day. From a recent low of 19,426.71 on 31 December 2012, the Sensex has risen 287.53 points or 1.48% in two trading sessions. From a 52-week low of 15,664.91 on 6 January 2012, the Sensex has risen 4,049.33 points or 25.84%. The Sensex advanced 86.81 points or 0.44% in December 2012. The barometer index jumped 3,971.79 points or 25.69% in calendar 2012.
Positive start likely on Asian support
The Indian markets are expected to open in the green zone tracking positive Asian cues. SGX Nifty is also trading 74.50 points higher. Events for the day: India December Markit Manufacturing PMI. Stock in news: Hero MotoCorp posts marginal rise in sales. OBC cuts interest rate on home loans by 0.1%. NMDC in talks for coking coal mines in Russia, Mozambique.
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