Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 12 points at the opening bell. Indian stocks will today, 15 April 2015, react to economic data released after market hours on Monday, 13 April 2015 which showed that Consumer Price Index (CPI) inflation slowed down to three-month low in March 2015. Meanwhile, the government will today, 15 April 2015 unveil data on Wholesale Price Index (WPI) for March 2015. Asian stocks were trading mixed today, 15 April 2015.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 417.01 crore on Monday, 13 April 2015, as per provisional data as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 46.42 crore on Monday, 13 April 2015, as per provisional data.
Kotak Mahindra Bank announced after market hours on Monday, 13 April 2015, that it has reduced its base rate by 0.15% to 9.85% per annum with effect from 16 April 2015. All categories of loan (other than the exceptions permitted by the Reserve Bank of India) will be priced with reference to the revised base rate.
ICICI Bank reportedly cut its home loan rate for both existing as well as new borrowers by 25 basis points (bps) to 9.9% yesterday, 14 April 2015.
Axis Bank reportedly cut its home loan rate by 20 basis points (bps) to 9.95% yesterday, 14 April 2015.
ACC's consolidated net profit tumbled 40.84% to Rs 236.54 crore on 0.65% decline in total income to Rs 3140.31 crore in Q1 March 2015 over Q1 March 2014. The result was announced on Tuesday, 14 April 2015.
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Cement sales volume fell 10.18% to 5.82 million tonnes in Q1 March 2015 over Q1 March 2014. With slackened demand from infrastructure and general construction sector in Q1 March 2015, the overall cement sales volume registered a decline over Q1 March 2014.
Net sales realization of cement business improved in Q1 March 2015 compared with Q1 March 2014. While the company maintained a stringent check on input costs, the overall operating costs for cement business registered an increase of 3.6% in Q1 March 2015 as compared to Q1 March 2014.
Operating EBITDA rose 43.38% to Rs 609.48 crore in Q1 March 2015 over Q1 March 2014. Operating EBITDA reflects continued margins improvements and also includes accrual of an amount of Rs 139.74 crore pursuant to favourable order dated 24 February 2015, of the Jharkhand High Court pertaining to disputes related to incentives for the period August 2005 to March 2015, which were earlier committed by the State of Jharkhand but was denied thereafter.
The profit before tax (PBT) fell 19.06% to Rs 310.12 crore in Q1 March 2015 over Q1 March 2014. PBT includes an additional charge of Rs 164.45 crore being the carrying amount as of 1 January 2015 of fixed assets with no remaining useful life (as revised) as of that date in accordance with the provisions of Schedule II of the Companies Act 2013 becoming applicable to the company with effect from 1 January 2015.
Cement demand is likely to improve in the next two quarters, while focus on performance will continue, ACC said.
Shares of companies whose fortunes are linked to orders from Indian Railways will be in focus after Prime Minister Narendra Modi on Monday, 13 April 2015, said that India is modernizing its Railway systems including signals and railway stations. In his address at the inauguration of the Indo-German Business Summit in Hannover, Germany, Modi said that India is planning metro rail in fifty cities and high speed trains in various corridors.
Telecom stocks and index heavyweight stocks led gains as key benchmark edged higher on the first trading session of the week on Monday, 13 April 2015. The S&P BSE Sensex rose 165.06 points or 0.57% to settle at 29,044.44, its highest closing level since 5 March 2015.
Shares of aviation companies, hospitality firms and tour operators will be in focus after Prime Minister Narendra Modi on Monday, 13 April 2015, said India is focusing on upgrading existing airports and putting up regional airports to enhance connectivity to places of economic and tourist importance. In his address at the inauguration of the Indo-German Business Summit in Hannover, Germany, Modi said that the scope and potential, the breadth and length of infrastructure and related developments is very huge in India.
Inflation based on the wholesale price index (WPI) is expected to remain in negative zone in March 2015. WPI inflation is expected at negative 2.2% for March 2015, as per the median estimate of a poll of economists carried out by Capital Market. WPI inflation was negative 2.1% in February 2015. The government will unveil data on WPI for March 2015 today, 15 April 2015.
Government data released after market on Monday, 13 April 2015 showed that the all-India general CPI inflation slowed down to three-month low of 5.2% in March 2015 (new base 2012=100) from 5.4% in February 2015. Food items were major contributors to the CPI inflation decline in March 2015.
The corresponding provisional inflation rate for rural area was 5.6% and urban area 4.7% in March 2015 as against 5.8% and 5% in February 2015. The core CPI inflation was flat at 3.9% in March 2015.
The consumer price index (CPI) inflation decline in March 2015 was mainly driven by decline in inflation for the food and beverages group at 6.2% in March 2015 from 6.8% in February 2015. Inflation for clothing and footwear eased to 6.3%, while housing inflation also fell to 4.8% in March 2015. On the other hand, the Inflation for miscellaneous items rose to 3%, while that for fuel and light inched up to 5.1% from 4.7%.
The World Bank and the International Monetary Fund (IMF) yesterday, 14 April 2015 reportedly emphasized the need for India to push forward the reforms agenda, including a cut in subsidies, even as they remained largely optimistic about the economic prospects of the country and pointed out that it would do better than China. The forecasts, both projected that the economy would expand by 7.5% this financial year.
IMF said in its bi-annual World Economic Outlook, released in Washington DC yesterday, 14 April 2015 that India's growth at 7.5% in 2015-16 will surpass China's decelerating growth of 6.8% in the same year.
The Prime Minister of India Narendra Modi and the Federal Chancellor of Germany Angela Merkel met in Hannover and Berlin yesterday, 14 April 2015 to exchange views on upgrading and further strengthening strategic partnership. We view each other's development as mutually reinforcing and offering significant opportunities for expanding cooperation between the two countries, as per the joint statement issued yesterday, 14 April 2015. Our common objective is to encourage greater synergies between German engineering, experience in sustainable development, innovation and skills, and the new opportunities available in India and through 'Make in India', 'Clean India', 'Digital India' and other initiatives towards achieving economic growth and sustainable development, the press release said. India's participation as Partner Country at Hannover Messe 2015 is a welcome expression of our common desire to strengthen this cooperation, it added.
Prime Minister Narendra Modi on Monday, 13 April 2015, said India is trying to introduce an element of transparency and predictability in taxation system. In his speech at the inauguration of the Indo-German Business Summit in Hannover, Germany, Modi said that the government has fast tracked approvals in industry and infrastructure. This includes environmental clearances, extending the industrial licences, delicencing of defence items and simplification of cross-border trade. Meanwhile, Modi said in his remarks at the Community Reception in Berlin yesterday, 14 April 2015, that the time is right for India to emerge as a global manufacturing hub. The Prime Minister called for balanced growth in the Indian economy, with equal emphasis on agriculture, manufacturing and services.
Asian stocks were trading mixed today, 15 April 2015. Key benchmark indices in China, Taiwan, Hong Kong and Indonesia fell by 0.12% to 0.83%. Key benchmark indices in Singapore, Japan and South Korea rose by 0.03% to 0.48%.
China's economy expanded at its slowest pace in six years in the first quarter, weighed down by a slumping property market, industrial overcapacity and sluggish overseas demand, data released today, 15 April 2015 showed. China's gross domestic product rose 7% from a year earlier in the first quarter, slowing from 7.3% recorded in the fourth quarter of 2014 and 7.4% for all of last year.
Value-added industrial output in China rose 5.6% in March from a year earlier, slowing from 6.8% growth in the combined January-February period, data from the National Bureau of Statistics showed today, 15 April 2015. Month-on-month, industrial output increased 0.25% in March from February, when output rose 0.45% from January.
US stocks ended yesterday, 14 April 2015 mostly higher, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong dollar.
In US economic data, sales at US retailers rose in March by the largest amount in a year, rebounding after three straight monthly declines. US producer prices rose a seasonally adjusted 0.2% in March after four straight monthly declines, the Labor Department said yesterday, 14 April 2015.
In Europe, investors are awaiting the European Central Bank (ECB) rate decision to be declared later in the global day today, 15 April 2015. As per reports, the ECB will probably keep interest rates unchanged at record lows as it assesses the impact of the quantitative-easing program it began last month.
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