03:30pm Market Closing: The
market saw major buying interest in last couple of hours of trade today. The
Sensex rallied 244.32 points or 0.86 percent to 28504.46 and the Nifty climbed
73.65 points or 0.86 percent to 8659.90.
The broader markets outperformed benchmarks with
the BSE Midcap and Smallcap indices surging more than 1 percent. About 1818
shares have advanced, 917 shares declined, and 169 shares are unchanged on the
BSE.
03:10pm BHEL Results: State-runpower equipment maker Bharat Heavy Electricals (BHEL) disappointed street with
its provisional numbers for the financial year 2014-15. According to its
tentative financial results (flash results) net profit fell 62 percent to Rs
1,314 crore during the year compared to Rs 3,461 crore in previous year.
Profit before tax too dropped 62 percent to Rs
1,906 crore during the same period. Total turnover for FY15 stood at Rs 30,806
crore, down 23.6 percent compared to Rs 40,338 crore in FY14.
Flash order inflow during the year was Rs 30,814crore, a growth of 10 percent compared to Rs 28,007 crore in previous year.
02:50pm Market Update: The
Sensex climbed 210.88 points to 28471.02 and the Nifty surged 66.45 points to
8652.70. About 1710 shares have advanced, 925 shares declined, and 164 shares
are unchanged on the BSE.
02:45pm L&T in News: Larsen
& Toubro (L&T) said its construction arm has bagged orders worth
Rs 5,492 crore across various segments in March.
In the building and factories segment, L&T
Construction has won projects, including a major order for construction of a mix
use development complex in Mumbai, it said. "The scope involves civil,
structural, architectural, finishes, mechanical, electrical and plumbing
works," it said.
In the power transmission and distribution
business it has bagged orders in both the domestic and international markets,
including add-ons, it said.
"New orders and variations have been won
from various reputed customers in the Middle East which includes engineering,
procurement, and construction of 200 kv and 132 kv substations and power up-gradation
works at certain facilities," the company said.
02:30pm RBI Policy expectations: JPMorgan economist Sajjid Z Chinoy expects the Reserve Bank of India to keep
benchmark interest rates unchanged at Tuesday’s monetary policy review.
“We expect RBI to stay on hold at upcoming policy
review as CPI inflation
rises and core-core inflation momentum accelerates,” says the JP Morgan note to clients.
Chinoy does expect the RBI to cut the cash reserve ratio (CRR) either but sees the central bank continuing with its relaxation of statutory liquidity ratio norms.
“We expect more easing later in the year,
anticipating inflation will remain benign. Collapse of the current account
deficit, and strong capital inflows allow RBI to focus on domestic dynamics,”
says the JP Morgan note.
02:00pm Market Check
The market gained strength in afternoon trade
with the Sensex rising more than 150 points led by pharma, FMCG, capital goods
and recovery in select banks stocks.
The Sensex jumped 158.86 points to 28419 and the
Nifty climbed 47.10 points to 8633.35. The BSE Midcap and Smallcap indices
gained 0.9 percent and 1.2 percent, respectively.
About 1669 shares have advanced, 937 shares
declined, and 173 shares are unchanged on the Bombay Stock Exchange.
Sun Pharma extended rally, up 6 percent on the
day of ex-date for merger of Ranbaxy with the company and on settlement of
litigation for generic Angiomax with The Medicines Company, US.
Shares of ITC, Tata Motors, ONGC, Dr Reddy's
Labs, Mahindra & Mahindra, HUL, Cipla, NTPC, GAIL and Hindalco rallied 2-3
percent. For More information please visit this site www.appsmine.org
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