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INDICES:
Sensex +131 at 17319 (0.77%), NIFTY +39 at 5248 (0.75%), CNXMIDCAP +55 at 7471
(0.75%)
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SECTORAL
PERFORMANCE: BANKEX 0.59%, AUTO 0.67%, CAPITAL GOODS
0.12%, HEALTHCARE 0.26%, Metal 0.9%, OIL & GAS 1.05%, IT 1.93%, FMCG
-0.27%, PSU 0.79%, REALTY 1.05%, Consumer Durables -0.67%, POWER 0.82%
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MARKET
BREADTH: 327 Advances, 169 Declines (BSE 500)
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VOLUMES: BSE $0.32bn
(-15.73%), NSE $1.68bn (872.62%), F&O $12.58bn (-22.41%)
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TODAY'S
GAINERS: RPWR 6.36%, TCS 3.72%, JSP 3.61%, INFO 2.77%, ACC 2.67%
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TODAY'S
LOSERS: BHEL -2.08%, MSIL -1.85%, DRRD -1.31%, AXSB -1.29%, SAIL -0.84%
MARKET COMMENTARY:
Indian benchmarks despite trimming their gains continued
to trade in green above neutral line in the late afternoon session as investors
started booking profits in the frontline blue chip counters. Traders were seen
piling up position in IT, and Realty while selling was being witnessed in
Health Care, Capital Goods and Consumer Durables sector. The credit rating firm
Moody's has reportedly reviewed three Indian banks ICICI Bank, Axis Bank and
HDFC Bank for a potential downgrades though the debt and deposits ratings for
all 3 banks remain unchanged. Also, most sugar stocks including Bajaj Hindustan
along with shares of textile companies like Arvind, Alok Industries etc traded
with notable gains ahead of a meeting called upon by Indian Prime Minister
Manmohan Singh to deliberate on the objections raised by Agriculture Minister
Sharad Pawar over the export of farm commodities such as sugar and cotton. The
stock market will remain closed tomorrow, i.e. on May 01, 2012, on account of
Maharashtra Day. On the global front, all the Asian markets were trading on a
mixed note, while the European markets too were trading mixed. The subdued
European market weighed on domestic sentiments after reports showed Spain’s
economic growth declined 0.3% in the first quarter however, the number was
better than expectations of 0.4% decline. On the home turf, the market breadth was
positive.
NEWS ON TODAYS MOVERS:
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Orchid Chemicals & Pharmaceuticals rose
1.04%, after the company said it has received approval from the US Food and
Drug Administration for Olanzapine tablets in multiple strengths.
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Maruti Suzuki India fell 1.83% after net
profit declined 3% to Rs 639.84 crore on 17.1% rise in net sales to Rs 11524.52
crore in Q4 March 2012 over Q4 March 2011.
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Bharat Heavy Electricals lost 2.07% after the
Rajasthan Government reportedly scrapped tenders worth Rs 12000 crore that were
bagged by the company without specifying any particular reason.
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ICICI Bank rose 1.57%, with the stock
extending 2-day 3.24% gains triggered by the bank announcing strong Q4
earnings.
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Bank of India jumped 4.82% after net profit
surged 93% to Rs 952.73 crore on 23.1% growth in total income to Rs 8777.73
crore in Q4 March 2012 over Q4 March 2011.
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Oriental Bank of Commerce tumbled 4.42% after
net profit fell 20.6% to Rs 264.90 crore on 29.22% growth in total income to Rs
4564.53 crore in Q4 March 2012 over Q4 March 2011.
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Dabur India rose 1.04% after consolidated net
profit rose 16% to Rs 170.52 crore on 23% growth in net sales to Rs 1363.58
crore in Q4 March 2012 over Q4 March 2011.
CORPORATE NEWS:
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Oriental bank of commerce base rate reduction
effective may 14
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Coal India’s stagnant output growth
unacceptable: chatterji
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Telenor to write down nok 3.9 billion of
indian assets :tel no
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Tata consultancy banking platform wins
letshego holdings order
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Alstom t&d india wins contract worth 840m
rupees
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Bank of india to pay 7 rupees-shr
dividend
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Bank of india 4q net 9.53 bln rupees vs 4.94
bln
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Oriental bank to pay 7.9 rupees-shr dividend
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United phosphorus 4q net 2.02 bln rupees vs
1.12 bln :untp in
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Godrej consumer 4q net 1.93 bln rupees;
analyst est. 1.71 bln
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oriental bank of commerce 4q profit 2.65 bln
rupees vs 3.34b
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united phosphorus to pay final dividend of
0.50 rupee-shr
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moody's reviews icici bank, hdfc bank, axis
bank for downgrade
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Exide industries 4q net 1.43 bln rupees;
analyst est. 1.36 bln
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Jindal steel not planning power unit ipo now,
chairman says
ECONOMIC NEWS:
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India coal ministry additional secretary
chatterji speaks
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