Companies & Sectors
Electronic gadgets top choice for e-tailers this R-Day sale
New Delhi : With the Republic Day online sale offering some great discounts entering its last phase, the nation's top e-taliers have seen a tremendous response from the customers for mobile phones and other electronic gadgets.
 
According to Snapdeal, the demand for mobile phones and accessaroies and other eletronic gadgets soared since it started its sale with a tagline "Republic of Savings" on January 21 for six days, offering discounts of up to 70 percent.
 
“The response from the public is fantastic for mobile phones ranging from Rs.10,000 like Lenovo A6000. With special offers on Nexus5, I-phone 5S and Micromax, sales are rising as Republic Day approaches,” Rahul Taneja, vice president (category management) of Snapdeal, told IANS.
 
“Apart from mobile phones, JBL headphones and Canon 1200D cameras, Boothtooth audio equipment and sound bass of JBL demand are rising,” Taneja stated as the Snapdeal sale ends on January 26.
 
Almost all the major e-retailers like Flipkart, Amazon, eBay, Myntra and Snapdeal have come up with their own themes on Republic Day.
 
Flipkart’s "Republic Day" three-day sale that was kicked-off on January 20 saw consumers buying heavily into electronic brands like Micromax, Lenovo, Samsung, Apple, Canon and Nikon.
 
According to Flipkart, it saw 30 percent growth in traffic with home appliances and large appliances among the top searched categories.
 
“Samsung Galaxy On5 and On7 sold close to a lakh units with 10 times spike in air fryers. Memory cards were the top-selling item with 300 percent growth in this segment,” a Flipkart statement said.
 
For Amazon, the "Great Indian Sale" that was spread across three days from January 21-23 saw great response.
 
“With this 72-hours marathon deals, our customers had a delightful time shopping in the New Year across a wide selection of products at best possible price-points," Samir Kumar, vice president with Amazon India, said.
 
The Amazon ‘Great India Sale’ had limited-time deal on brands like GoPro Cameras, ME Electronics and Ravensburger Puzzles.
 
According to Amazon, video games and music witnessed their biggest days in terms of units sold on first day of sale.
 
Customers also availed up to 7.5 percent off on HDFC bank debit and credit card on Flipkart.
 
On Amazon, customers enjoyed instant discounts on Amazon.in gift cards while Citibank credit card holders were given 10 percent cash back in addition to great savings during the sale.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Nifty, Sensex may rally subject to dips – Monday closing report
As long as Nifty is above 7,400, the index may rise
 
We had mentioned in Friday’s closing report that Nifty, Sensex were in rally mode and that Nifty would rise this week subject to dips. The investors in the Indian equity markets were in a favourable mood in Monday’s trading and the major indices were on an upward trajectory based on macroeconomic cues. The gains were however small, and were less than 0.5% mainly due to poor trading volumes. The trends of the major indices during Monday’s trading are given in the table below:
 
 
Positive global indices, coupled with firm crude oil prices and a stable rupee, supported the upward movement of the Indian equity markets. Initially, the bellwether indices opened on a positive note in sync with their Asian peers. Even the firm closing of the domestic and the US markets last week supported the upward trajectory. Moreover, the short-covering rally was supported by firm oil prices and a stable rupee which gained eight paise at the opening, starting the week at 67.55 to a US dollar from its previous close of 67.63. Further, expectations of an additional stimulus from the ECB (European Central Bank) by March this year boosted investors’ confidence. However, gains were capped by profit bookings and caution over the upcoming rate setting meeting of the FOMC (Federal Open Market Committee) scheduled for January 27-28. The FOMC assumes significance as higher interest rates in the US are expected to lead away FPIs (Foreign Portfolio Investors) from emerging markets such as India. In addition, selling pressure was witnessed on account of the F&O (Futures and Options) expiry slated for Thursday. The S&P BSE market breadth favoured the bulls with an advance decline ratio of nearly 2:1. There were 1,673 advances and 900 declines.
 
Air-conditioning and commercial refrigeration major Blue Star Ltd is warming up to solar power air-conditioners, tying up with the Indian Institute of Technology-Madras (IIT-M), said a senior official  on Monday. He also said that the company will be setting up new plants in Sri City in Andhra Pradesh and in Jammu at an outlay of around Rs150 crore with a total production capacity of 0.5 million room air-conditioners per annum. "We are tying up with IIT-M for development of products. We will look at development of solar power air-conditioners with IIT-M," B Thiagarajan, executive director of the company, told reporters adding that “the total outlay will be around Rs150 crore and the capacity of the two plants will be around 0.5 million units per day. The new plants will also make freezers and water coolers." Blue Star shares closed at Rs354.50, up 1.05% on the BSE.
 
Private sector HDFC Bank Ltd. on Monday said it closed the third quarter with around 20% growth in its net profit. In a statement, the bank said it posted a net profit of Rs3,356.84 crore for the quarter ended December 31, 2015, up from Rs2,794.51 crore posted for the quarter ended December 31, 2014. According to HDFC Bank, the total income for the period under review stood at Rs18,283.31 crore, up from Rs14,930.74 crore for the quarter ended December 31, 2014. As on December 31, 2015, in quantum terms the bank's gross and net non-performing assets went up to Rs4,255.20 crore and Rs1.260.60 crore respectively from Rs3,467.91 crore and Rs903.66 crore as on December 31, 2014. HDFC Bank shares closed at Rs1,039.95, up 0.94% on the BSE.
 
Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 0.75%, at 2,938.51 points. The smaller Shenzhen index rose 0.8% to close at 10,192.53 points, Xinhua reported. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, gained 0.43% to close at 2,158.82 points.
 
Tokyo stocks closed higher on Monday as a recovery in oil prices, hopes for more easing from the Bank of Japan and rally in Chinese shares bolstered investor sentiment. The 225-issue Nikkei Stock Average gained 152.38 points, or 0.90%, from Friday to end the day at 17,110.91, Xinhua reported. The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 18.44 points, or 1.34%, to finish at 1,392.63. All industry categories on the main section closed in positive territory, with notable advancers comprising food, mining and other financing business-related issues. The day's turnover was 2,412.4 billion yen ($20.31 billion).
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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Jammu's cold breaks 71-year record
Srinagar : With the minimum temperature settling at barely half a degree Celsius above the freezing point, Jammu city on Sunday recorded its coldest day since 1945, the weatherman said on Monday.
 
People in Jammu continued to shiver as throughout the past week, with dense fog and chilly wave affecting their lives on Monday.
 
The weather office has forecast chilly days in Jammu till January 27. "Foggy weather accompanied by chilly wind will continue in Jammu city till 27th of this month," said Sonam Lotus, director of Jammu and Kashmir meteorological department.
 
The dense fog forced cancellation and rescheduling of trains to and from Jammu city. The air traffic also remained suspended due to poor visibility. Motorists used headlights and blinkers to caution the vehicles ahead in the fog-blanketed city. 
 
The minimum temperature recorded in Jammu city on Monday was 3.2 degrees Celsius. It was 4.9 in Katra, 1.9 in Batote, fractionally above the freezing point at 0.1 at Banihal and 0.8 in Udhampur town, and minus 0.9 in Bhaderwah. 
 
In Srinagar, the night temperature stayed well below the freezing point at minus 3.3 degrees Celsius on Monday, while it was minus 5.9 in Pahalgam and minus 4.5 in Gulmarg. 
 
In the Ladakh region, the minimum temperature was a whopping minus 14.7 degrees Celsius in the Leh town and minus 15.6 in Kargil town. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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