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Thursday, October 15, 2015

Solid comeback…Sensex shuts above 27,000 mark
Commenting on the same, Amar Ambani, Head of Research, IIFL, said, “LIC Housing Finance’s Q2 FY16 performance was stronger-than-expected with robust NII growth of 34% yoy and net profit increasing by 19% yoy. A combination of brisk loan growth, margin expansion and stable credit cost should drive significant earnings growth for the company over the next couple of years. RoA is estimated to improve materially from the current cyclical low of 1.3%. Valuation at 2.2x FY17E P/BV remains attractive in the above context.
October 15, 2015: After being under pressure for the past three trading session, the Indian equity market made a smart comeback. Indices closed near day’s high with the Nifty just managing to close near the 8,200 mark while Sensex closed above 27,000 levels. Today’s rally was led by auto stocks, followed by metals, oil & gas, capital goods and power stocks. Even the mid-cap and the small-cap stocks participated in today’s rally. Only the IT stocks ended with losses. TCS continued to decline as it missed street expectations. Wipro and Infy were among the other laggards.

Shares of LIC Housing gained by over 2.5% after announcing quarterly results. The Company posted a net profit of Rs. 4117.368 mn for the quarter ended September 30, 2015 as compared to Rs. 3413.516 mn for the quarter ended September 30, 2014.

Commenting on the same, Amar Ambani, Head of Research, IIFL, said, “LIC Housing Finance’s Q2 FY16 performance was stronger-than-expected with robust NII growth of 34% yoy and net profit increasing by 19% yoy. A combination of brisk loan growth, margin expansion and stable credit cost should drive significant earnings growth for the company over the next couple of years. RoA is estimated to improve materially from the current cyclical low of 1.3%. Valuation at 2.2x FY17E P/BV remains attractive in the above context.”

The BSE Sensex opened at 26,842, touched an intra-day high of 27,038 and low of 26,837. It finally ended with a gain of 230 points at 27,010.

The NSE Nifty opened at 8,134 hitting a high of 8,191 and low of 8,130, before signing off with a gain of 72 points or 0.8% at 8,180.

The India VIX (Volatility) index was down 3.1% to 17.17.

On the global front, China's Shanghai Composite index rallied 2.3% and Hang Seng closed up 2%.

In Europe, The FTSE 100 was marginally up 0.8%. On the other hand, DAX and the CAC 40 gained 1%.

The Indian currency was quoted at 64.93 per US dollar, up 25 paise from the previous trading session.

Zee Ent, Tata Motors, BPCL, Bank of Baroda, BHEL, Maruti Suzuki and Hero MotoCorp were among the gainers on NSE, whereas Cipla, M&M, Wipro, TCS, HUL, Tech Mahindra and NTPC were among the losers today.

Out of 1,748 stocks traded on the NSE, 649 declined and 857 advanced today.

Adani Enterprises rallied 14% at Rs.96. According to reports, the Australian environment ministry cleared Adani’s $7 billion Carmichael coal mine.

Mastek tumbled 18% at Rs. 144 after the company posted Q2 results. The net profit for the quarter ended stands at Rs. 2.6 crore, while sales for Q2 was at Rs 131.7 cr vs Rs 133.3 cr, down by 1.2 % QoQ.

Spicejet soared 7% at Rs. 41. The airline announced its very first red-eye flights within the domestic network on the Delhi – Bangalore route along with a new flight on Delhi – Nanded route, both commencing its operations on 2nd November 2015.

Cyient closed higher by 5% at Rs. 620. The company reported 9.2% rise in net profit at Rs. 98.5 crore for the quarter ended September 30, 2015 as compared 30, 2015 as compared to Rs.90.2 crore for the quarter ended September 30, 2014.

Lakshmi Vilas Bank jumped 3% to Rs. 91. The net profit for the quarter stands at Rs.44.8 crore. Gross NPA for the quarter stands at 1.89%, while Net NPA for Q2 was at 1.01%.

A total of 39 stocks registered a fresh 52-week high in trades today, while 6 stocks touched a new 52-week low on the NSE.

Alpa Laboratories Limited, Ashima Limited, Bafna Pharmaceuticals Limited, Balaji Telefilms, Bombay Rayon Fashions Limited, Can Fin Homes Limited, Cerebra Integrated Technologies Limited, Cyient Limited, Dalmia Bharat Sugar and Industries Limited, Dhampur Sugar Mills Limited, Dynacons Technologies Limited, Emmbi Industries Limited Filatex India Limited, Future Market Networks Limited, Gayatri Projects Limited, Godfrey Phillips India Limited, GP Petroleums Limited, Himatsingka Seide Limited, Hubtown Limited, ITD Cementation India Limited,JB Chemicals & Pharmaceuticals Limited, Kajaria Ceramics Limited, KCP ,Lypsa Gems & Jewellery Limited, Mangalam Drugs And Organics Limited, Mahindra Holidays & Resorts India Limited, NCL Industries Limited, Ortin Laboratories Limited,Palred Technologies Limited, Parenteral Drugs (India) Limited, Rama Steel Tubes Limited, Sakthi Sugars Limited, SKM Egg Products Export (India) Limited, SREI Infrastructure Finance Limited, Themis Medicare Limited, Triveni Engineering & Industries, Vikas GlobalOne Limited, Zee Entertainment Enterprises were some of the prominent stocks to log a fresh 52-week high.

Austral Coke & Projects, Birla Cotsyn (India), Cyber Media (India), KSS, The Peria Karamalai Tea & Produce Company, Visesh Infotecnics  were some of the notable stocks to record a new 52-week low.

Sensex top gainers: The top gainers in the Sensex were Tata Motors  (up 8.2%), BHEL (up 3.2%), Maruti Suzuki (up 3%), Tata Steel  (up 2.8%) and Hero Motocorp (up 2.6%).

Sensex top losers: The top losers in the Sensex were Cipla  (down 1.2%), Wipro  (down 1%), Hindalco (down 0.9%), Hindustan Unilever (down 0.7%) and NTPC  (down 0.7%).

Nifty top gainers: The top gainers in the Nifty were Tata Motors  (up 8.2%), Bank Of Baroda (up 3.7%), BPCL (up 3.6%), BHEL (up 3.2%) and Maruti Suzuki (up 3%).

Nifty top losers: The top losers in the Nifty were Cipla  (down 1.2%), Mahindra & Mahindra (down 1%), Wipro  (down 1%), Hindalco (down 0.9%) and Hindustan Unilever (down 0.7%).

Mid-cap index gainers: The top gainers in the Mid-Cap index were Adani Enterprise (up 14.1%), Gitanjali Gems (up 6.5%), Godrej Industries (up 4.4%), Suzlon Energy (up 4%) and India Cements (up 3.8%).

Mid-cap index losers: The top losers in the Mid-Cap index were Karur Vysya Bank (down 3.7%), Piramal Enterprise (down 2.8%), Hindustan Zinc (down 2.6%), Tv18 Broadcast (down 2.2%) and Bharti Infratel (down 2.1%).

The BSE IT index: The top gainers in the IT sector were Mphasis (up 2.3%), Financial Tech (up 1.3%), Oracle Financial (up 1%), HCL Tech  (up 0.2%).

The top losers in the IT sector were Sasken Communication (down 1.7%), Wipro  (down 1%), TCS (down 0.6%), Tech Mahindra (down 0.5%).

The BSE Metals index: The top gainers in the metals sector were Tata Steel (up 2.8%), Jindal Steel (up 1.8%), Tata Metaliks (up 1.4%), Ispat Industries (up 1%) and JSW Steel  (up 0.8%).

The top losers in the metals sector were Monnet Ispat (down 1.6%), Sunflag Iron (down 1.5%), Bhushan Steel (down 1.5%), Jindal Stainless (down 1%) and Adhunik Metaliks (down 0.6%).

The BSE Oil & Gas Index: The top gainers in the oil & gas space were BPCL (up 3.6%), HPCL (up 2.8%), ONGC (up 2%), GSPL (up 1.2%) and IOC (up 0.8%).

The top losers in the oil & gas space were Hindustan Oil (down 1.5%), Great Offshore (down 1.4%), Essar Oil  (down 1.1%), Chennai Petroleum (down 0.9%) and MRPL (down 0.8%).

The BSE Auto Index: The top gainers in the auto space were Tata Motors  (up 8.2%), Maruti Suzuki (up 3%), Hero Motocorp (up 2.6%), Eicher Motors (up 0.7%) and Bajaj Auto  (up 0.5%).

The BSE Banking Index: The top gainers in the banking space were Bank Of Baroda (up 3.7%), Yes Bank  (up 2.8%), Canara Bank (up 2.8%), State Bank Of India  (up 1.9%) and Union Bank Of India (up 1.5%).

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