The markets lose steam, close at over one month low:
After gap up opening market could not sustain on higher side fall sharply and lost previous day gain despite positive global cues. Selling pressure in Pharma, IT, small-caps and banking stocks dragged the indices to close near the day’s low.
HEADLINES FOR THE DAY:
- Dr Reddy’s shares gains on inks pact to distribute Biocodex products in Romania.
- GAIL shares tanks after analysts negative on consecutive EBITDA loss.
- Nestle gains as Maggi noodles clears final tests, relaunch likely late November.
- Auto stocks were in demand; Tata Motors gains 6 percent.
- Steel Strips wins new order to supply 120000 wheels in a year.
Q2 RESULTS CORNER:
- Marico reported robust Q2 numbers, profit for the quarter jump 27 percent to Rs 150.70 crore against Rs 118.3 crore for the same quarter last year.
- Godrej Prop Q2 net profit shot up 128 percent to Rs 106.20 crore on the back of solid growth due to BKC deal.
- IDBI reported marginally up in Q1 net profit, which stood at Rs 119.50 crore on the back of other income, operating profit and net interest income but higher provisions limited growth.
- PTC India reported marginal growth in Q2 as the net grows 5% to Rs 111 crore.
- Financial Technologies reported net loss in the quarter two of Rs 35 crore due to fall in other income. The company had posted Rs 327.41 crore of profit last year same quarter.
- Shares of Whirlpool India tanks after Q2 net down 7%, which stood at Rs 37.60 crore.
- Adlabs Ent hits fresh low on the back weak Q2 numbers. Reported Rs 6.20 crore of loss this quarter.
- DLF share gains after company reported 21 percent rise in Q2 net profit which seen at Rs 131.50 crore against Rs 109 crore.
KEY STOCKS FOR THE DAY:
- Jain Irrigation extends previous day gains on the back of positive news flow that company bags order worth Rs 4.73 billion from MSEDCL.
- Petronet LNG gains as much as after RBI nod for investments by FIIs (Foreign Portfolio Investors) /RFPIs (Registered Foreign Portfolio Investors).
- Shemaroo shares dip despite of the company launches Miniplex on Airtel Digital TV.
- As per the media reports Indusind Bank appoints new country head for Investment Banking to Pramod Kasat.
- Amtek Group shares were in focus as a group plans to sell the coffee chain Barista.
- IOC stock gains as company to fully operationalize Paradip refinery by early next month.
- SAIL (Steel Authority of India Limited) ends on a flat to negative note as a company to supply steel for Iran’s rail expansion plan.
Results on 5th November 2015:
- Arvind, Bajaj Elec, Castrol, Cipla, Gujrat Gas, Jubilant Food, ICRA and Tata Steel are coming up with its Q2 (Quarter 2) results tomorrow, Thursday.
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