TOP FIVE CORPORATE NEWS 14 JANUARY 2014

Cairn India buyback starts from January 23; stock up 1.5 percent

Cairn India is trading higher by 1.5% at Rs 329.80 after the company said that its proposed share buyback offer will commenced from 23 January 2014. The stock opened at Rs 325.65 and touched a low of Rs 324.90 so far on the NSE.  A combined 894,000 shares have changed hands on the counter so far on the NSE and BSE.
 

Ranbaxy Lab extends Monday's slide
Shares of Ranbaxy Laboratories have declined after company said it has received the form 483 with certain observations as a result of the recent United States Food and Drug Administration (USFDA) inspection at its active pharmaceuticals ingredient (API) plant at Toansa, Punjab, India.
 

 Morgan Stanley Asia buys 15 lakh shares of Escorts
Shares of Escorts were trading higher after Morgan Stanley Asia (Singapore) PTE bought 15, 09,036 shares at Rs 121.10. In the previous trading session, the share closed at Rs 123.25, up Rs 3.75, or 3.14 percent. The stock opened at Rs 124.30 and touched the high of 126.60 so far on the NSE.
 

ITC raises price of Bristol packet by 15%, shares up 1%
Shares of ITC gained as much as 1.36 percent in morning trade as reports suggest that it has increased Bristol cigarette price. ITC raised Bristol cigarette price by 15 percent to Rs 45 per pack of 10 sticks. Earlier a packet of 10 Bristol stocks costed Rs 38.

Somany Ceramics hit record high on Creador stake buy
Somany Ceramics has soared 13% to Rs 137 after its board approved to issue 4.35 million shares of the company to private equity firm Creador for Rs 50 crore on preferential basis.

INDIAN EQUITY MARKET WRAP UP-14 january

INDIAN BENCHMARKS ended on a weak note.

INDIAN EQUITY BENCHMARKS ended on a weak note after a volatile session led by declines in software exporters such as Tata Consultancy Services Ltd on profit-taking after the recent run-up on better-than-expected quarterly results by peer Infosys Ltd. Cairn India were trading higher by 2% at Rs 332 after the company said that its proposed share buyback offer will commenced from 23 January 2014.

Further, Shares of Coal India rise as market eagerly awaits the quantum of dividend that the company will declare. The stock has rallied more than 5 percent in the past four trading sessions. NIIT Technologies disappointed the street with the third quarter consolidated net profit falling 14.9 percent sequentially, higher-than-expected, to Rs 53.1 crore due to forex loss.

The crucial resistance for Nifty is now seen at 6310 and above this 6360. Support for the immediate term is now placed at 6190 and next support will be 6130.

News to watch:

Watch out for Wholesale Price Index (WPI) on Jan 15.

DAILY EQUITY REPORT 9 TH JANUARY 2014

INDIAN FACE 

INDIAN EQUITY BENCHMARKS rose to mark their first daily gain this year, snapping a five-session losing streak led by Reliance Industries and IT major TCS, as well as exporters such as Tata Consultancy services rose on earnings optimism while Coal India surged on plans for an interim dividend, amid a range bound trading session. 

Further, Shares of Infosys were trading down by at 3475 

ahead of its third quarter earnings due for release on Friday. 

Shares of public sector underrating (PSU) banks are in 

demand, trading higher by up to 8% on hopes of interim 

dividend.

DAILY EQUITY REPORT 8 TH JANUARY 2014

INDIAN FACE 

INDIAN EQUITY BENCHMARKS closed in the negative territory for the fifth consecutive day as FIIs turned sellers over the last one week. This comes in the wake of weak economic data and 

emerging political uncertainties. Also, weak Asian cues 

compounded the negative sentiment. 

Further, Financial Tech was locked in upper circuit of 10% at 

Rs 271, also its highest level since August, with no sellers are 

seen on the counter in otherwise weak market. 

Shares of Tata steel were trading down as after considering an 

increase in the prices of its products in the January-March 

(Q4) of the 2014 financial year.

DAILY EQUITY REPORT -3 JANUARY 2014

INDIAN FACE

INDIAN EQUITY BENCHMARK slipped for the second
consecutive day with the benchmark indices losing over 1%
each in the second half of the trading session as profit booking
emerged at higher levels. It drops on weak PMI. The PMI was
down at 50.7 points in December from 51.3 in the previous
month.

Further, Pratibha Industries was up 6% to Rs 28.65 after the
company has secured construction orders aggregating to Rs
590 crore.

Canara Bank has raised Rs. 5 billion by allotting 18.25 million
equity shares on preferential basis to the government of India.

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