Sensex up 51 points in early trade on positive data

 The benchmark BSE sensex rose over 51 points to 27,880.15 in early trade on Monday on the back of increased buying by funds and investors helped by positive growth data for the March quarter Intraday Trading Tips

The 30-share index, which had gained 321,73 points in the previous session at the beginning of the June series in the derivatives segment, gained 51.71 points, or 0.18%, to trade at 27,880.15. 

Stocks of realty, banking, IT, metal, PSU and power led the gains. 

The NSE Nifty was trading higher by 15.40 points, or 0.18%, at 8,449.05. 

Sentiment turned better as buying activity gathered momentum after India's economy grew 7.5% in the last quarter of 2014-15, brokers said Commodity Trading Tips

Besides, expectations of a rate cut by the Reserve Bank of India at its policy meet tomorrow triggered the flow, they said. 

However, caution prevailed on disappointing company earnings and a weak trend at other Asian markets. 

Among other Asian markets, Hong Kong's Hang Seng shed 0.19% while Japan's Nikkei shed 0.58% in early trade today. 

The US Dow Jones Industrial Average ended 0.64% down in Friday's trade as data showed the economy contracted in the first quarter Nifty Trading Tips

Hyundai sales pace up 1.5% in May to 52,515 units

Hyundai Motor India on Monday reported a 1.5 per cent increase in total sales at 52,515 units in May Free Stock Share Tips

The company had sold 51,718 units in the same month last year, HMIL said in a statement. 

In the domestic market, Hyundai sold 37,450 units last month compared with 36,205 units in May 2014, up 3.4 per cent. However, the company's exports declined 2.9 per cent to 15,065 units as against 15,513 units in the same period last year Financial Astrology Trading Tips

HMIL senior vice president (sales and marketing) Rakesh Srivastava said: "In a market experiencing low growth with decreasing contribution of rural and diesel vehicles sales, Hyundai volumes grew to 37,450 units with fourth consecutive month of more than 10,000 units of highly successful and acceptable Elite & Active, showcasing customers' changing preference towards brands delivering high aspirational value at attainable prices Personal Numerology Trading Tips

Tata Group appoints global headhunters to identify key honchos like MD, CFO

The Tata Group has begun the process of filling up vacancies at some of its key posts as the salt-to-software conglomerate girds up to meet the twin challenges of a slowdown in some areas and explosive growth and opportunities in other sectors Nifty Trading Tips

People with direct knowledge of the matter said that an internationally reputed search firm has been mandated to hunt for an MD of Tata Motors. India's largest truck and bus maker has been leaderless since the death of Karl Slym in January 2014.

DHR International, which is leading the search for the position, is supposed to possess expertise in identifying top talent for automobile companies  Jackpot Trading Tips


Two internal candidates

The Indian partner of a global search firm has also been asked to shortlist candidates for the post of Tata Motors chief financial officer. The incumbent C Ramakrishnan is retiring in June this year and an announcement is expected to be made by July.

"We will announce the details for the new managing director and for the chief financial officer once we have made these appointments," a Tata Motors spokesperson said in an emailed response. "We do not have any additional comments on these at present." DHR International did not respond to an emailed questionnaire. The group is also considering internal candidates for the post of chief financial officer of Tata Sons, the group holding company. For nearly two decades, Ishaat Hussain was among the few financial whiz kids in the Tata Group having led the finance functions in both Tata Steel and Tata Sons Free Stock Share Tips
But in 2012, he became the nonexecutive director at Tata Sons and the group has been examining various alternatives, including external candidates since then. A top executive of a leading Mumbai-based finance firm was tapped for the post but the talks were not successful.

A top official close to the situation said that two internal candidates have been shortlisted and a decision could be made soon. Praveen Kadle, the 54-year-old managing director of Tata Capital who was earlier the chief financial officer of Tata Motors, and Koushik Chatterjee, group executive director (finance and corporate) of Tata Steel are the candidates Financial Astrology Trading Tips

"These matters are internal to the company. As and when we have an announcement to make, we will inform you," a Tata Sons spokesperson said in an emailed response. Both Kadle and Chatterjee, chartered accountants, had been with the group for more than two decades. Kadle was spotted by the group's former chairman Ratan Tata in 1996 when he was directly involved with the sale of Tata's stake to IBM in their joint venture. A year later, Ratan Tata picked him as the vice-president of Tata Motors and five years later he became the finance director and a board member. The group's ambitions of setting up a bank sparked another change and Kadle was moved to head Tata Capital, the subsidiary of Tata Sons.

Chatterjee, who worked closely with Tata Sons Finance Director Ishaat Hussain as his executive assistant rose through the ranks in Tata Steel in the past decade. He was deeply involved with the acquisition of British steelmaker Corus and was instrumental in the financial restructuring of Tata Steel both in India and overseas Personal Numerology Trading Tips

"The role will be more strategic than operational and a trusted candidate will be needed," says the managing director of a search firm. "Internal candidate works well for this role." He cannot be quoted as his firm often works for the group.

Tata Motors, on the other hand, has a different problem. It needs a strong leader capable of rejuvenating the organisation to develop new products and take on competition from multinationals. "They have an excellent track record when it comes to getting talent for the auto sector," said the head of a prominent search company about DHR Commodity Trading Tips

Analysts say the company is being pulled down by lack of local demand and a leader can give the right direction. "A managing director is needed to direct the company but does not mean he can immediately change the performance," says an auto analyst who has tracked the company for over a decade. "They are getting pulled down by domestic demand and a leader will help in making right decisions at the right time."

HSBC manufacturing PMI at 4 month high, job strain stays

The manufacturing output jumped to a 4 month high in May as growth of production and new orders firmed up, but companies took a cautious line on hiring, an HSBC survey said on Monday. 

The headline HSBC India Purchasing Managers' Index (PMI), compiled by Markit, surged to 52.6 in May, from 51.3 in April, with levels of production and new orders rising at the fastest rates since January 2015 Free Stock Share Tips

The PMI is a composite gauge designed to give a single figure snapshot of manufacturing business conditions. A figure above 50 indicates the sector is expanding while one below that level means contraction. 

"PMI data signalled a further robust expansion of the Indian manufacturing economy in May. Both output and new order growth accelerated to 4-month highs whereas the rise in export orders lost traction," Markit Economist Pollyanna De Lima said. 

Despite the uptick in growth, manufacturing employment was broadly unchanged in May. Over 99 per cent of panelists reported same staffing levels, citing uncertainty about the sustainability of growth Financial Astrology Trading Tips

"The outlook for the sector is, however, clouded by a stagnant job market as firms remain uncertain about the sustainability of the upturn," Lima added. 

The total volume of new work received by manufacturing firms increased for the 19th successive month at the quickest pace since January, driven by improved demand from the domestic and foreign markets. However, the rate of expansion of overseas orders moderated in May. 

On inflation, Lima said: "Input cost inflation ticked higher and output prices were raised in May, but inflation rates are nonetheless weak in the context of historical data. This indicates that further rate cuts are still on the horizon." 

The central bank has lowered its policy rate twice so far outside the cycle in 2015, but kept it unchanged at its last review on April 7 due to fears of unseasonal rains affecting food prices. The next policy meet is scheduled to be held tomorrow Intraday Trading Tips

Anadarko's $5.15 billion cleanup deal approved by US court

Petroleum Corp's agreement to pay $5.15 billion to clean up nuclear fuel and other pollution received approval from a federal judge on Monday, the final hurdle for the settlement touted by the US department of justice as the largest-ever environmental cleanup recovery. 

The agreement, reached in April, resolved a lawsuit against Anadarko and its Kerr-McGee unit from creditors of Tronox Inc, the paint materials maker that was once a unit of Kerr-McGee Free Stock Market Tips

Opponents of the settlement could still appeal, but would face tough odds given its broad support among the parties in the case. Barring an appeal, money could be dispersed "within weeks," John Hueston, a lawyer for the Tronox creditors, said in an interview on Monday. 

The lawsuit, which was joined by the US department of justice, alleged Tronox's 2009 bankruptcy was caused by the environmental liabilities it took on when Kerr-McGee spun it off in 2005. It said the spinoff was a scheme by Kerr-McGee to get the liabilities off its books and make itself a more attractive takeover target for Anadarko, which acquired it in 2006 Commodity Trading Tips

The money will fund a wide array of projects across some 2,000 U.S. sites, including $1 billion for the Navajo Nation to address radioactive contamination from Kerr-McGee's old uranium mining operation. 

The bankruptcy judge who oversaw Tronox's Chapter 11 case and presided over the trial, green-lighted the deal in May Intraday Trading Tips

Manhattan federal Judge Katherine Forrest approved the deal on Monday over objections from a creditor group in Columbus, Mississippi, where Kerr-McGee operated a wood treatment plant. The group felt the settlement was too low. 

"The court is sympathetic to the objectors, whose community is coping with the toxic legacy Kerr-McGee has left in its wake," Forrest wrote. "Nevertheless, the court must consider the broad interests of all the parties." 

An attorney for the objectors did not return a call seeking comment on Monday. 

Tronox emerged from bankruptcy in 2011 Nifty Trading Tips

HDFC Bank among top 100 most valuable global brands in 2015

Private sector lender HDFC Bank is the only Indian entity to find a place among the top 100 most valuable brands globally, along with Apple, Google, Microsoft, IBM and Facebook Free Stock Share Tips
HDFC Bank is ranked at 74th position in the BrandZ list compiled by Millward Brown, a global research agency, in association with WPP.

As per the report, the bank is the India's most valuable brand with a value of $14 billion.

Apple tops the chart with a brand value of $246.9 billion, followed by Google with $173.6 billion and Microsoft with $115.5 billion Nifty Trading Tips

At the fourth position is IBM with brand value of $93.9 billion while Visa is at fifth position with value of $91.9 billion.

Among the banking sector, Wells Fargo is at the top at the 16th position having a brand value of $59.3 billion followed by ICBC brand at 22nd position valued at $38.8 billion.

Among others are HSBC at 35th position with $24 billion, RBC Royal Bank at 36th position valued at $23.9 billion and China Construction Bank valued at $22 billion Intraday Trading Tips

ATM use: HDFC Bank to stop paper slips, to send detailed SMSes

The second largest private sector lender HDFC Bank has decided to discontinue issuing slips after cash withdrawals at ATMs and will alert the customer through SMSes.

"We have decided to discontinue issuing receipts after cash withdrawals. The SMS which will be sent will have detailed information on the withdrawn amount and the balance in account," a senior bank official told PTI Free Stock Share Tips

The bank is piloting the initiative at a few ATMs at present and will roll out the same across its network of over 11,700 ATMs by the end of June, the official added.

Cash withdrawals account for the bulk of transactions at ATMs and the bank witnesses an average of 2 crore cash withdrawals every month at its ATMs.

When asked about the benefits for the bank, the official said the switch to paperless mode will help it save under Rs 10 crore a year spent on paper Financial Astrology Trading Tips

At present, customers are given a choice on whether they want a printed receipt or not.

However, much of the receipts get discarded as soon as they come out and if not disposed off in the right way, also pose a security risk as they contain private information.

This is a part of the digital initiative for the bank, under which it had last year launched the 'Green PIN' scheme wherein card-users were given the PIN numbers electronically rather than in a printed kit, the official said Personal Numerology Trading Tips

The official pointed out that customers of other banks who use HDFC Bank's ATMs will also not get the receipt as sending the SMS is mandatory for any bank.

The bank is not doing away with using paper at the ATMs completely and customers wanting to get the receipts can do a separate transaction to get either a mini statement or balance enquiry to get a receipt, the official said.

HDFC Bank added around 500 machines last year and will continue to add machines to complement its branch expansion, the official said Intraday Trading Tips

FinMin, RBI set up panel on reducing cash transactions

To reduce cash transactions in the economy and boost the usage of cards and point of sales (PoS) terminals, the Union finance ministry and Reserve Bank of India (RBI) have set up a committee to look at ways to encourage use of plastic money.

The committee has representatives from National Payments Corporation of  India, State Bank of India and ICICI Bank. It was formed last month Stock Market Trading Tips

A source said it would also look at ways to widen the spread of PoS machines and other enabling infrastructure to increase card acceptance. Last year, RBI had said it was mulling whether to link the deployment of PoS machines by a bank to the number of cards being disbursed.

RBI data at the end of December 2014 showed 1.05 million PoS machines in the country, whereas there are over 500 mn debit cards and at least 20 mn credit cards. In 2013-14, according to a Boston Consulting Group report, the number of cash transactions in the economy was 26 per cent of the total; cheque transactions were 19 per cent. Another 37 per cent were through ATMs or cash deposit machines. Transfer through ECS systems was three per cent; NEFT/RTGS use was four per cent. PoS accounted for five per cent and transactions through the internet were six per cent Financial Astrology Trading Tips

The eventual aim is to move to a cashless economy. RBI has said it would soon be issuing a discussion paper on this. This ties in with the government’s focus on addressing the issue of undisclosed incomes. It has taken steps to improve the use of credit and debit cards and has put limits on cash transactions. For instance, quoting a PAN (income tax record) number has been made mandatory for any sale or purchase over Rs 1 lakh.

Apart from checking the flow of unaccounted money, reduction in cash usage is held to improve cost effectiveness for banks. “By digitising processes end-to-end, engaging customers on the digital channel for sales and transactions, and collectively working towards eradication of cash, banks can achieve up to a 30 per cent jump in sales productivity, reduce administrative staff by 10-15 per cent and improve back-office staff productivity by 20 per cent,” said the BCG report Jackpot Trading Tips

Centre secures approval to sell stake worth Rs 50k cr in 20 PSUs

The finance ministry's department of disinvestment has a pipeline of PSUs in which it plans to sell stake this financial year, as well as the next two. Government sources have told Business Standard the Cabinet Committee on Economic Affairs (CCEA), led by Prime Minister Narendra Modi, has already granted approval for stake sale worth about Rs 50,000 crore (at current prices) in about 20 companies.

This disinvestment pipeline will be offloaded keeping in mind market conditions. To meet the Rs 41,000-crorepublic sector undertaking (PSU) stake sale target for this financial year, the biggest chunk of the planned stake sale will be carried out in FY16 Stock Market Trading Tips

The PSUs in the pipeline range from ONGC, a five per cent stake sale in which could fetch the exchequer Rs 13,607 crore at current prices, to Dredging Corporation of India, in which a five per cent stake sale will fetch Rs 53.2 crore.

Other companies for which stake-sale approvals (for 5-15 per cent stake) are said to have been secured include Power Finance Corp, NMDC, NTPC, Nalco, BHEL, MMTC, National Fertilizers, Rashtriya Chemicals and Fertilizers, Indian Oil, Hindustan Copper, State Trading Corp, India Tourism Development Corp, Engineers India, MOIL, SJVN, and Mangalore Refinery Petrochemicals Free Stock Share Tips

Rural Electrification Corp is also part of the Rs 50,000-crore pipeline. In April, the government divested five per cent stake in the company to kick-start the 2015-16 stake sale process. Companies such as ONGC and NMDC, stake-sale approvals for which were given in 2014-15 as part of that year's divestment plan, are also part of the pipeline.

"The disinvestment department already has in place about Rs 50,000 crore worth of stake to be sold, for which approvals have been granted by the Cabinet. Now, all the government has to do is wait for the right market conditions and sell the stake accordingly. Not all the stake can be sold this financial year; but most will, given the ambitious target. The rest will be sold through the coming two years," said a senior government official Intraday Trading Tips

Officials say the approvals were given through multiple meetings of the CCEA and only a few of these names have been in the public domain. Sources say last week, the Cabinet approved stake sale in 10-12 PSUs, but plans for stake sale in NTPC and Indian Oil alone were reported widely. They add similar instances have happened in the case of past Cabinet meetings, too - though a bunch of companies were cleared, only a few names were in the public domain Commodity Trading Tips

This practice of getting approvals en-masse is a departure from the disinvestment department's earlier practice of seeking Cabinet and regulatory approvals on a company-by-company basis in the first half of a financial year and selling the stake in the second.

As reported by Business Standard earlier, apart from minority stake sales, the finance ministry is also reviving plans for initial public offerings (IPOs) in the case of companies such as Hindustan Aeronautics, Rashtriya Ispat Nigam Ltd, and THDC Ltd, for which it is in talks with the states and ministries concerned Nifty Trading Tips

Markets have a robust morning; Nifty heads towards 8,450

The markets are going strong this morning, thanks to a rally in the financials and IT stocks.

At 10:30am, the Sensex was at 27,862, stronger by 217 points or 0.7% and the Nifty was at 8,427, up 57 points.

The broader markets are also equally strong, with the midcap and smallcap indices gaining around 0.6% each at 10,690 and 11,250 respectively Stock Market Trading Tips

The benchmark indices had ended with modest losses on Tuesday, amid a volatile session of trade, to snap two successive days of gains. However, the markets rebounded this morning due to the favourable cues from the Asian front. 

RUPEE

The rupee opened lower by 10 paise at 63.77 per dollar this morning as against 63.67 on Tuesday. The dollar continues to gain on unexpectedly better US April housing data Intraday Trading Tips

SECTORS AND STOCKS

All the sectoral indices are in the green, with the exception of the metal space.

Tata Power has spurted by 2.8% to Rs 78 to top the gainer's charts on the BSE after the company reported a better-than-expected consolidated net profit of Rs 159 crore in the fourth quarter ended March 31, 2015 (Q4) mainly due to lower depreciation and lower coal prices Nifty Trading Tips

The financial stocks are going strong this morning on continuing hopes of a rate cut by the RBI at its upcoming policy review meet on June 2. Financial heavyweights such as ICICI Bank, HDFC, HDFC Bank and SBI have jumped 1-2% each this morning. In the broader banking universe, Kotak Mahindra Bank, Yes Bank, Bank of India and Bank of Baroda have also nadded 0.5%-1% each.

The IT stocks have build on the gains of the previous session, thanks to the strengthening dollar. Infosys, TCS and HCL Tech and Tech Mahindra have added around 1% each.

The metal space is, however, bucking the strong trend, with Tata Steel and Hindalco losing around 1% each Jackpot Trading Tips

SMART M0VES

Glenmark Pharmaceuticals surged by 3% to Rs 928 on the NSE after the Reserve Bank of India (RBI) allowed foreign institutional investors (FIIs) to buy up to 49% stake in the drug maker.

Jamna Auto Industries rallied 8% to Rs 259 on the NSE after the company reported an over five-fold jump in consolidated net profit at Rs 15.31 crore for the fourth quarter ended March 31, 2015 (Q4) Stock Market Trading Tips

On the other hand, Pidilite Industries slumped by 4% to Rs 572 on the NSE after the company reported a lower-than-expected 10% year on year (yoy) growth in consolidated net profit of Rs 81 crore for the fourth quarter ended March 31, 2015 due to lower other income.

The market breath is strong. Out of 2,001 stocks traded on the BSE, there are 1,274 advancing stocks as against 628 declines Nifty Trading Tips

IRB Infra bags NHAI's Rs 2,650-cr Agra-Etawah project

IRB Infrastructure Developers today said it has bagged Rs 2,650-crore Agra-Etawah Bypass project from the National Highways Authority of India (NHAI).

"The company has emerged as a preferred bidder for the project of six-laning of Agra-Etawah Bypass section of NH-2 in Uttar Pradesh under NHDP Phase V of BOT (Toll) mode," IRB Infrastructure Developers said in a BSE filing Stock Market Trading Tips

It further said: "The estimated project cost of the company is approximately Rs 2,650 crore... The company will get tolling rights on the Agra-Etawah Bypass section of NH-2 from the appointed date."

Last month, the government approved three highway projects with an estimated cost of Rs 5,529 crore.

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the development of eight-laning of Mukarba Chowk to Panipat section of NH-1 in Delhi and Haryana Personal Numerology Trading Tips

The CCEA also okayed four-laning of the Solapur-Bijapur stretch of NH 13 in Maharashtra and Karnataka, with the cost estimated at Rs 1,537.64 crore.

The third one was the six-laning of Agra-Etawah section of NH 2 in UP.

IRB Infrastructure was trading at Rs 246.15 in the morning trade, up 1.71 per cent, from the previous close on BSE Intraday Trading Tips

Sensex down 100 points; Nifty below 8,400 mark

Markets have turned weak and are trading marginally lower weighed down by metal, FMCG and power sectors.

By 10:08, the Sensex was lower by 79 points at 27,758 and the Nifty was quoting at 8,397, down 27 points.

The main losers on the Sensex are Tata Steel, Tata Power, Cipla, Vedanta and BHEL, all slumping between 1-5% Stock Market Trading Tips

Markets have commenced the trading session on a flat note tracking mixed global cues.

By 9:40, the Sensex was lower by 48 points at 27,789 and the Nifty is quoting at 8,403, down 20 points.

Among broader markets, BSE Midcap and Smallcap indices have gained between 0.2-0.3%.

“On Wednesday, the Nifty retested its crucial hurdle around 8440 but failed to cross the same, despite several intraday attempts. It strengthened our belief that profit taking is likely in index, followed by consolidation in the coming days. Hence, traders are advised to uphold cautious approach in long trades and avoid over leveraging in carry over trades,” said Jayant Manglik, President-retail distribution, Religare Securities in a post market note Intraday Trading Tips

"Also, we reiterate our preference to select counters from metal, PSU banks and realty pack for fresh short positions,” he added.

Further, foreign portfolio investors bought shares worth a net Rs 123.49 crore yesterday, as per provisional data.

RESULTS CALENDAR

Ahluwalia Contracts (India), Bajaj Auto, Britannia Industries, CESC, Deepak Fertilisers & Petrochemicals Corporation, Essar Shipping, Indiabulls Real Estate, Kalindee Rail Nirman, MMTC, Shipping Corporation of India, Shree Renuka Sugars, Voltas and Zee Entertainment Enterprises are some of the companies that are likely to announce their March quarter results today Commodity Trading Tips

GLOBAL MARKETS

Asian stocks treaded water early on Thursday, with overnight Wall Street losses acting as a drag, while the dollar held to broad gains after minutes from the Federal Reserve's April minutes contained no major surprises.

The closely-watched Fed meeting minutes showed many officials saw it as premature to hike interest rates in June, which did not take the markets by surprise Nifty Trading Tips

The US economy has shown signs of strength - the latest being this week's upbeat housing data - but overall recovery has not been as robust as expected. The economy grew by a modest 0.2% in the first quarter.

SECTORS & STOCKS

BSE Realty index has gained by almost 1%. However, BSE Metal index has slipped by 0.4%.

The main gainers on the Sensex are Coal India, Dr Reddy’s Labs, RIL, Axis Bank, SBI, ONGC and Tata Motors Jackpot Trading Tips

On the losing side, Tata Steel has slumped over 4%. Tata Steel, the country's oldest steel producer, reported a consolidated loss of Rs 5,674 crore in the March quarter due to a sharp fall in revenue and also because of a non-cash impairment of Rs 4,951 crore it took, most of it on Europe's long products division.

Bajaj Auto has slipped by 1% ahead of its results due today. Other notable losers are Vedanta, GAIl, Cipla, Bharti Airtel and HDFC Bank.

Shares of IRB Infrastructure were trading higher by 2% at Rs 248 on the NSE in early morning trade after the company has bagged Rs 2,650 crore order from the National Highways Authority of India (NHAI) Free Stock Share Tips

Nifty hovers around 8,400; BSE Midcap index falls 0.5%

Benchmark indices are trading weak amid choppy trades weighed down by metal shares and index heavyweights like ITC, HDFC and RIL.

By 10:50, the Sensex was lower by 72 points at 27,766 and the Nifty was quoting at 8,402, down 22 points.
Among broader markets, BSE Midcap and Smallcap indices have slipped between 0.5-1%. The market breadth is positive with 1,163 shares declining versus 832 shares advancing 790 on the BSE Free Stock Share Tips 

In the currency front, the rupee strengthened 17 paise to 63.65 against the dollar in early trade at the Interbank Foreign Exchange today on fresh selling of the US currency by exporters and banks amid a higher opening in the equity market.

ASIAN MARKETS

Japanese shares hit a new 15-year high on Thursday on hopes that its long-moribund economy was finally coming to life, but weak China factory activity capped stock market gains in much of the rest of Asia Personal Numerology Trading Tips

The dollar held on to broad gains after minutes from the Federal Reserve's April meeting minutes contained no major surprises.

Tokyo's Nikkei gained 0.5% a day after the release of stronger-than-expected GDP data.

SECTORS & STOCKS

BSE Metal, FMCG, Oil & Gas, Healthcare, Bankex and Power indices are down almost 1% each. However, BSE Consumer Durables index has gained by almost 1%.

Tata Steel has dipped 5% to Rs 344 on the NSE after reporting a consolidated net loss of Rs 5,674 crore in the quarter ended March 2015 (Q4) due to a sharp decline in revenues and an exceptional loss of Rs 4,811 crore. The company had posted a profit of Rs 1,036 crore in the same quarter last year.

Vedanta, Cipla, GAIL, Hindalco, Tata Power and ITC have slipped between 1-3% Intraday Trading Tips

On the gaining side, Coal India, Tata Motors, Axis Bank, L&T and Bharti Airtel have gained between 1-3%.

Among other shares, Gayatri Projects has rallied 8% to Rs 197, extending its over 10% gain in the past four trading sessions on the NSE, after investment firm Mentor Capital bought stake in the construction & engineering company through the open market.

Claris Lifesciences are trading higher by 11% to Rs 312 on the BSE, accompanied by heavy volumes, after an Economic Times report suggested that Cadila Healthcare has emerged as the front runner to acquire the generic sterile injectables business of the company Nifty Trading Tips

Markets remain weak; Tata Steel falls 5%, Bajaj Auto up 4%

Benchmark indices continue to trade lower amid choppy trades weighed down by metal, financials and index heavyweight ITC and RIL shares.

At 12:40, the Sensex was at 27,786, lower by 51 points or 0.2% and the Nifty was quoting at 8,409, down 14 points Stock Market Trading Tips

The broader markets continue to trade lower in line with the benchmark indices- BSE Midcap index has slipped by 0.6% and the Small index is trading marginally lower.

The market breadth is weak. Out of 2,234 stocks traded on the BSE, there are 875 advancing stocks as against 1,253 declines.

In the currency front, the rupee strengthened to 63.68 against the dollar at the Interbank Foreign Exchange today on fresh selling of the US currency by exporters and banks amid a higher opening in the equity market.

Meanwhile, the Finance Ministry yesterday constituted a three-member committee headed Justice A P Shah to look into the issue of Minimum Alternate Tax (MAT) on foreign institutional investors (FIIs).  Foreign portfolio investors bought shares worth a net Rs 123.49 crore yesterday as per provisional data Free Stock Share Tips

SECTORS & STOCKS

BSE Oil & Gas, FMCG and Healthcare and Bankex indices are down 0.4-1%. However, BSE Auto index has gained over 0.5%.

Tata Steel is the top Sensex loser, down almost 5% after reporting a consolidated net loss of Rs 5,674 crore in the quarter ended March 2015 (Q4) due to a sharp decline in revenues and an exceptional loss of Rs 4,811 crore Financial Astrology Trading Tips

Vedanta has slipped by 2.5%. Rating agency Moody's today said that Vedanta will have to strengthen its balance sheet in FY16 to avoid further pressure on its ratings.  

ITC and SBI are trading lower between 1-2% ahead of their earnings tomorrow.

Other notable losers are Cipla, GAIL, Tata Power, ICICI Bank, RIL and NTPC.

On the gaining side, Bajaj Auto has surged over 4%. The company reported a Q4 net profit of Rs 621.6 crore compared to 762.56 in the year-ago period, a decline of 18.5%. Total income fell 3.9% to Rs 4,739 crore in the quarter Intraday Trading Tips

Mahindra & Mahindra and Tokyo-based Mitsubishi Heavy Industries (MHI) today entered into a strategic partnership for agricultural machinery. The stock is trading marginally positive.

The environment ministry has given Coal India the go-ahead to expand the Jhanjra underground mining project in West Bengal, one of the few such proposals in recent years, which will help the state monopoly extract coal worth more than Rs 8,000 crore without destroying forests. Coal India is up around 3% Nifty Trading Tips

Axis Bank, HUL Tata Motors and Hero Moto are other notable gainer, up 1-3.5%.

Among other shares, ABG Shipyard has tanked nearly 20% to fresh 52-week lows of Rs 138 on the BSE in intra-day trades after the company said that the principal repayments of loans are yet to start.

UltraTech Cement has moved higher by 2.6% to Rs 3,110, extending its 9% rally in the past four days on the BSE, on plans to acquire Jaiprakash Associates' Bhilai plant Jackpot Trading Tips