A bout volatility was witnessed in early trade as key benchmark indices fluctuated alternately between positive and negative terrain in early trade. The barometer index, the S&P BSE Sensex, was currently down 12.67 points or 0.05% at 26,090.56. The market breadth indicating the overall health of the market was strong. Reliance Capital declined after announcing Q1 results. Reliance Communications (RCom) dropped after announcing Q1 results. Cipla declined after announcing weak Q1 results.
At 9:21 IST, the S&P BSE Sensex was down 12.67 points or 0.05% to 26,090.56. The index gained 39.01 points at the day's high of 26,142.24 in early trade. The index fell 18.36 points at the day's low of 26,084.87 in early trade.
The CNX Nifty was down 5.15 points or 0.07% to 7,786.55. The index hit a high of 7,794.10 in intraday trade. The index hit a low of 7,782 in intraday trade.
The market breadth indicating the overall health of the market was strong. On BSE, 791 shares gained and 455 shares fell. A total of 55 shares were unchanged.
The BSE Mid-Cap index was up 28.54 points or 0.32% at 9,036.39. The BSE Small-Cap index was up 46.70 points or 0.48% at 9,870.76. Both these indices outperformed the Sensex.
Tata Motors rose 1.89%. The company after market hours on Thursday, 14 August 2014, said that its global wholesales declined 8.46% at 80,151 units in July 2014 over July 2013. Global wholesales rose 5.98% at 80,151 units in July 2014 over June 2014.
Cipla dropped 0.92% to Rs 443.90 after announcing weak Q1 results. The stock hit high of Rs 447.50 and low of Rs 442 so far during the day. The company's consolidated net profit declined 39.17% to Rs 295 crore on 13.6% growth in net sales to Rs 2647 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Thursday, 14 August 2014. The stock market was closed on Friday, 15 August 2014, on account of Independence Day.
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Cipla's income from operations rose 8.3% to Rs 2720 crore in Q1 June 2014 over Q1 June 2013. EBITDA declined 21.44% to Rs 542 crore in Q1 June 2014 over Q1 June 2013. EBITDA in Q1 June 2013 includes certain large one-off items.
Domestic sales rose 17% to Rs 1289 crore in Q1 June 2014 over Q1 June 2013, largely driven by growth in respiratory, anti-infective and cardiac therapies, Cipla said in a statement. Exports and formulations rose 12.7% to Rs 1218 crore in Q1 June 2014 over Q1 June 2013. Exports of APIs declined 5.4% to Rs 140 crore in Q1 June 2014 over Q1 June 2013. The growth in export revenues was primarily due to growth in anti-retroviral, anti-asthma and anti-allergic segments, Cipla said in a statement.
Cipla said that the current year figures include the relevant results of Cipla's subsidiaries from the date they became subsidiary of the company and therefore the corresponding figures for the previous period are not comparable.
Reliance Communications (RCom) lost 1.41% to Rs 119 after announcing Q1 results. The stock hit high of Rs 120.70 and low of Rs 119 so far during the day. The company's consolidated net profit rose 21.4% to Rs 132 crore on 2.1% growth in revenue to Rs 5523 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Thursday, 14 August 2014.
RCom's total EBITDA rose 9.5% to Rs 1863 crore in Q1 June 2014 over Q1 June 2013. EBITDA margin stood at 33.7% in Q1 June 2014, amongst the highest in the industry, with strong contribution from both India and Global businesses, RCom said in a statement.
Revenue from India operations rose 1.3% to Rs 4718 crore in Q1 June 2014 over Q1 June 2013. EBITDA of India operations rose 16% to Rs 1693 crore in Q1 June 2014 over Q1 June 2013. Revenue from Global operations declined 5.1% to Rs 1073 crore in Q1 June 2014 over Q1 June 2013.
RCom generated operational cash flow (EBITDA) of Rs 1863 crore in Q1 June 2014, paid net finance charges of Rs 767 crore and invested Rs 415 crore on capex during the quarter. The company remains free cash flow (FCF) positive and this is expected to continue, RCom said in a statement.
Reliance Capital declined 0.38% to Rs 560 after announcing Q1 results. The stock hit high of Rs 562 and low of Rs 558.85 so far during the day. The company's consolidated net profit rose 23% to Rs 164 crore on 11% growth in total income to Rs 2144 crore in Q1 June 2014 over Q1 June 2013. The result was announced after market hours on Thursday, 14 August 2014.
As on 30 June 2014, the net worth of the company stood at Rs 12643 crore.
Reliance Capital had a net debt equity ratio of 1.86 as on 30 June 2014. The company continues to enjoy the highest ratings of A1+ by ICRA and CRISIL, for its short term borrowing program and CARE AAA by CARE for its long term borrowing program, Reliance Capital said in a statement.
As on 30 June 2014, the assets of the company stood at Rs 45869 crore.
In his Independence Day address to the nation from the ramparts of the Red Fort, Prime Minister Narendra Modi on Friday, 15 August 2014, announced a vision of "Come and Make in India", inviting manufacturers from across the world to invest in India, and help boost India's industrial growth. He called upon the youth of India to unleash their entrepreneurial spirit and work towards manufacturing in India, the various items that add to the country's import bill. Let "Made in India" become a synonym of excellence, he added. Modi also announced that a new institution would be created to replace the Planning Commission. This new institution would respect the federal structure of the country, he asserted.
In a major new scheme to universalize banking access and financial inclusion, the Prime Minister announced the Pradhanmantri Jan-Dhan Yojana which will provide for a bank account, a debit card and an insurance amount of Rs 1 lakh, to poor families.
The Prime Minister said development and good governance are the only two tracks which could take the nation forward.
In a function at Solapur, the Prime Minister on 16 August 2014 outlined a comprehensive vision for new modes of infrastructure development in the country, which would include nationwide connectivity networks of roads, power transmission lines, gas grids and water grids. He asserted that roads and highways development will be given priority by the new Government, drawing inspiration from the Golden Quadrilateral and Pradhan Mantri Gram Sadak Yojana launched by former Prime Minister Atal Bihari Vajpayee. The Prime Minister said the Government is concerned at the large number of stalled SEZ projects across the country, and a high-level team has been constituted to review the problems and resolve them at the earliest. He added that his Government wishes to create an environment for ease of business, and encouragement for youth. Elaborating his theme of Come, make in India, which he mentioned during his Independence Day address, the Prime Minister said his Government will encourage foreign investment in shipbuilding.
Asian stocks declined on Monday, 18 August 2014, as health-care shares gained while banks slid with consumer companies. Key benchmark indices in South Korea, Taiwan, Singapore and Hong Kong were off 0.31% to 0.76%. Key benchmark indices in China, Japan, and Indonesia were up 0.07% to 0.38%.
Most US stocks ended lower on Friday, 15 August 2014, as increasing violence in Ukraine sent oil prices to the biggest increase in a month.
Ukrainian forces have reportedly raised their national flag over a police station in the city of Luhansk which was for months under rebel control, Kiev said on Sunday, 17 August 2014, in what could be a breakthrough in Ukraine's efforts to crush pro-Moscow separatists. Russia denies helping the rebels and accuses Kiev, backed by the West, of triggering a humanitarian crisis through indiscriminate use of force against Russian speakers in eastern Ukraine who reject the Ukrainian government's rule.
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