Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 17 points at the opening bell.
The rate of inflation based on wholesale price index (WPI) is seen easing further to 2.1% in October 2014, from 2.38% in September 2014, as per the median estimate of a poll of economists carried out by Capital Market. The government will unveil WPI inflation data for October 2014 at 12:00 noon today, 14 November 2014.
Among corporate news, Sun Pharmaceutical Industries after market hours yesterday, 13 November 2014, reported 15% rise in consolidated net profit to Rs 1572 crore on 13% rise in net sales/income from operations to Rs 4751 crore in Q2 September 2014 over Q2 September 2013. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 18% to Rs 2161 crore in Q2 September 2014 over Q2 September 2013. EBITDA margin stood at 45% in Q2 September 2014, higher than 44% in Q2 September 2013.
Dilip Shanghvi, Managing Director of the Company said: "We remain focused on strengthening our existing businesses and developing a differentiated and specialty product basket as well as planning for the Ranbaxy integration. We also continue to review opportunities to expand and strengthen our global footprint".
On a consolidated basis, Tata Power Company reported net loss of Rs 78 crore in Q2 September 2014, compared with net profit of Rs 75 crore in Q2 September 2013. Revenue declined 4.23% to Rs 8394 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
Cipla's consolidated net profit declined 16.58% to Rs 298.68 crore on 7.06% growth in total incomet to Rs 2790.59 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
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DLF's consolidated net profit rose 9% to Rs 109.06 crore on 4% decline in total income to Rs 2135.59 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
Steel Authority of India's net profit declined 44.97% to Rs 649.49 crore on 1.3% growth in total income to Rs 11840.64 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
Tata Motors after market hours yesterday, 13 November 2014 said that the Group global wholesales in October 2014, including Jaguar Land Rover, were 82,026 units. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in October 2014 were 32,049 units. Global wholesales of all passenger vehicles in October 2014 were 49,977 units. Global wholesales of Tata Motors' passenger vehicles in October 2014 were 11,790 units. Global wholesales for Jaguar Land Rover for the month were 38,38,187 units.
Infosys after market hours yesterday, 13 November 2014, said that media reports indicating that the company is in race to acquire Airbus unit CIMPA are speculative.
Hindustan Petroleum Corporation (HPCL) reported 166.59% surge in net profit to Rs 850.21 crore on 0.35% fall in total income to Rs 51964 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market hours yesterday, 13 November 2014.
The government's announcement of a hike in excise duty on petrol and diesel pulled key benchmark indices lower yesterday, 13 November 2014. The S&P BSE Sensex fell 68.26 points or 0.24% to settle at 27,940.64, its lowest closing level since 11 November 2014.
Foreign portfolio investors bought shares worth a net Rs 690.61 crore yesterday, 13 November 2014, as per provisional data.
Asian equities were mixed today, 14 November 2014. Key indices in Hong Kong, Taiwan, Singapore, and Indonesia were up 0.01% to 0.29%. Key indices in China, Japan, and South Korea were off 0.16% to 0.64%.
US stocks ended yesterday's mixed trading activity slightly higher, but a continued sell-off in energy stocks, due to falling oil prices, weighed on the S&P 500.
In US, more workers quit their jobs in September as hires reached their highest level in nearly seven years, the Labor Department said yesterday, 13 November 2014. Hires increased to a seasonally adjusted 5 million, a level last seen in December 2007. Quits rose to a seasonally adjusted 2.8 million in September from 2.5 million in the previous month, data showed.
Federal Reserve Chair Janet Yellen yesterday, 13 November 2014 said that the growing globalization of financial markets requires the Federal Reserve to understand how economic developments in other nations may affect the US economy. Yellen said the Fed needs better insights into things such as global capital flows to achieve its domestic objectives of maximum employment and price stability. Yellen's remarks came at the start of a two-day conference sponsored by the Fed, the European Central Bank and the Federal Reserve Bank of New York.
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