The market is likely to open higher on positive Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 10.50 points at the opening bell. Mahindra & Mahindra, Tata Steel, Hindalco Industries and BPCL unveil their Q1 results today, 13 August 2013. The market will react to the weak industrial production data for June 2013 and also another data showing easing of inflation in July 2013. Both the data were released by the government after trading hours on Monday, 12 August 2013.
Asian markets were trading higher led by sharp upmove in Japanese shares which rose after yen eased following a report on Tuesday that said the Prime Minister Shinzo Abe is considering a corporate tax cut as a way to offset the impact of a planned two-stage increase in the sales tax.
ONGC's net profit fell 33.92% to Rs 4015.98 crore on 3.35% decline in total income to Rs 20505.03 crore in Q1 June 2013 over Q1 June 2012. The company announced Q1 result after market hours today, 12 August 2013.
ONGC gave a gross subsidy discount of Rs 12622 crore in Q1 June 2013, which was higher than Rs 12346 crore in Q1 June 2012. The subsidy discount impacted the profit before tax (PBT) by Rs 10803 crore and profit after tax (PAT) by Rs 7131 crore. ONGC shares the under recoveries of state-run oil marketing companies (PSU OMCs) by allowing discount in the prices of crude oil, PSD kerosene, and domestic LPG based on the rates of discount communicated by the Ministry of Petroleum and Natural Gas and the Petroleum Planning and Analysis Cell.
ONGC said that due to changes in accounting policies, the profit before tax was higher by Rs 222 crore.
ONGC said it has provided for Rs 1611 crore in Q1 June 2013 towards contribution for conversion of Post Retirement Benefit Scheme from Defined Benefit Scheme to Defined Contributory Scheme based on guidelines of the Department of Public Enterprise.
ONGC reported 4 hydrocarbon discoveries in Q1 June 2013 and an additional discovery in August 2013.
Kotak Mahindra Bank has raised the base rate by 25 basis points to 10% per annum with effect from 13 August 2013. All categories of loans (other than exceptions permitted by RBI) will henceforth be priced with reference to the revised base rate, the bank said. The bank has also raised its benchmark prime lending rate (BPLR) by 25 basis points with effect from 13 August 2013. The announcement was made after market hours on Monday, 12 August 2013.
Sesa Goa after market hours on Monday, 12 August 2013, said that the Division Bench of the High Court of Bombay at Goa vide its order dated 12 August 2013 has dismissed the appeal filed by the shareholder of Sesa Goa and sanctioned the Scheme of amalgamation and arrangement amongst Sterlite Industries (India), Madras Aluminium Company, Sterlite Energy, Vedanta Aluminium and Sesa Goa and their respective shareholders and creditors and the scheme of amalgamation of Ekaterina with the company and their respective shareholders and creditors.
L&T turns ex-dividend today, 13 August 2013, for dividend of Rs 12.33 per share for the year ended 31 March 2013 (FY 2013).
HPCL reported net loss of Rs 1460.48 crore in Q1 June 2013, lower than net loss of Rs 9248.80 crore in Q1 June 2012. Total income rose 16.23% to Rs 51968.01 crore in Q1 June 2013 over Q1 June 2012. The company announced Q1 result after market hours on Monday, 12 August 2013.
Maruti Suzuki India turns ex-dividend today, 13 August 2013, for dividend of Rs 8 per share for the year ended 31 March 2013 (FY 2013).
Hindustan Copper's net profit fell 61.32% to Rs 18.57 crore on 26.91% fall in total income to Rs 245.75 crore in Q1 June 2013 over Q1 June 2012. The company announced Q1 result after market hours on Monday, 12 August 2013.
DLF's consolidated net profit fell 38.11% to Rs 181.19 crore on 5.33% rise in total income to Rs 2453.18 crore in Q1 June 2013 over Q1 June 2012. The company announced Q1 result after market hours on Monday, 12 August 2013.
Industrial production registered a contraction of 2.2% in June 2013, data released by the government after trading hours on Monday, 12 August 2013, showed. Mining production registered a decline of 4.1% and manufacturing production fell 2.2%. Electricity generation remain stagnant in June 2013. As per use-based classification, production of basic goods declined 1.9% in June 2013. Capital goods production fell 6.6%. Production of intermediate goods rose 1.1%. Consumer goods production declined 2.3%. Production of consumer durables declined 10.5%. Production of consumer non-durables rose 5%.
On a cumulative basis, industrial production registered a contraction of 1.1% during April-June 2013.
Inflation based on the consumer price index (CPI) eased in July 2013, data released by the government after trading hours on Monday, 12 August 2013, showed. The combined consumer price index (CPI) for urban and rural India eased to 9.64% in July 2013, from 9.87% in June 2013. The data showed that inflation under the category 'food and beverages' stood at 11.24% in July 2013.
Key benchmark indices edged higher on Monday, 12 August 2013, as index heavyweight and cigarette major ITC gained after a foreign brokerage upgrade. The S&P BSE Sensex advanced 157.64 points or 0.84% to 18,946.98, its highest closing level since 5 August 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 408.35 crore on Monday, 12 August 2013, as per provisional data from the stock exchanges.
Asian markets were trading higher on Tuesday, 13 August 2013, led by sharp upmove in Japanese shares which rose after yen eased following a report on Tuesday that said the Prime Minister Shinzo Abe is considering a corporate tax cut as a way to offset the impact of a planned two-stage increase in the sales tax. Key benchmark indices in Hong Kong, Indonesia, Singapore, South Korea, Japan and Taiwan were up by 0.2% to 1.41%. China's Shanghai Composite index fell 0.28%.
Japan's core machinery orders, seen as a leading indicator of capital spending, fell 2.7% in June, the Cabinet Office said Tuesday. Core machinery orders, which exclude volatile purchases for power-generation equipment and ships, can nonetheless vary wildly from month to month: They rose 10.5% in May, fell 8.8% in April, and rose 14.2% in March. A quarterly forecast included with the June results showed expectations the orders would fall 5.7% in the July-September period compared to the previous quarter.
US stocks closed a low-volume, light-news session with slight losses on Monday, though the technology-dominated Nasdaq Composite managed a gain.
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