Stocks
Sensex, Nifty await fresh cues: Tuesday closing report
Close below any previous day’s low may pull the Nifty further lower
 
The upmove following victory of Bharatiya Janata Party (BJP) in general elections seems to have slowed  down. The Indian indices tried to move higher but were pulled down by institutional selling. The BSE 30-share Sensex opened at 24,555 while NSE 50-share Nifty opened at 7,310. Both the benchmarks immediately rose to their respective days high but soon lost strength and edged lower. Sensex hit a high of 24,587 and slide to hit a low of 24,300 and after a range bound session closed at 24,377 (up 14 points or 0.06%).  Nifty moved from the high 7,354 to hit a low of 7,248 and closed at 7,276 (up 12 points or 0.16%). The NSE recorded a volume of 192.55 crore shares. India VIX fell 6.77% to close at 19.2325.
 
The top five gainers among the other indices on the NSE were Media (4.81%), Realty (4.72%), Smallcap (2.80%), IT (2.35%) and Metal (2.09%) while the top five losers CPSE (3.15%), Energy (2.67%), PSE (1.42%), PSU Bank (1.07%) and Dividend Opportunities (0.94%).
 
Of the 50 stocks on the Nifty, 25 ended in the green. The top five gainers were Sesa Sterlite (8.01%), NMDC (5.11%), Bhel (3.64%), Tata Steel (3.58%) and Wipro (3.21%). The top five losers were Coal India (6.41%), ONGC (4.43%), Hero MotoCorp (3.73%), Reliance Industries (3.58%) and Bank of Baroda (3.12%).
 
Of the 1,581 companies on the NSE, 1,212 closed in the green while 334 closed in the red while 35 closed flat.
 
The first budget of the new government is expected by July 2014. India's southwest monsoon is on its natural course and rain is expected to occur at many places across Andaman & Nicobar islands by Wednesday, Indian Meteorological Department (IMD) said in its forecast issued on Monday.
 
Today all the software stocks in the Sensex 30 pack managed to move higher, led by Infosys (3.19%), Wipro (2.61%) and TCS (1.39%).
 
Coal India (5.89%) was the top loser among the Sensex 30 stock and was among the top loser in the ‘A’ group of the BSE. MMTC (10.65%) was among the top three gainers in ‘A’ group of BSE. Jaiprakash Power Ventures which was the top gainer yesterday in the ‘A’ group of BSE was the top loser today (down 7.71%) among the ‘A’ group stocks of BSE. The company reported poor quarterly results and is in the process of getting shareholder approval to raise funds of upto Rs3,000 crore for ongoing projects and to reduce its debts.
 
US indices closed Monday in the green. Asian indices showed mixed performance. Hang Seng (0.57%) was the top gainer while Jakarta Composite (2.37%) was the top loser. European indices were showing mixed performance while US Futures were trading marginally higher.

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As Narendra Modi arrives, @PMOIndia cleans its slate
@PMOIndia, the Twitter handle used by Dr Manmohan Singh, has now become clean like a new one. The old official Twitter handle of Dr Singh is now renamed as @PMOIndiaArchive
 
The official Twitter handle of Dr Manmohan Singh, the outgoing Prime Minister, @PMOIndia has become clean as new. With the Narendra Modi-led government setting to take over the reins, the handle @PMOIndia has been now renamed as @PMOIndiaArchive. The new, cleaned @PMOIndia has zero tweets and it does not follow anyone. However, there are 2,434 followers to this handle.
 
 
@PMOIndiaArchive, on its profile page has 1.24 million followers, 4,506 tweets and it was following 44 persons. Its profile pages says, "Archival material under the RTI Act for @PMOIndia till 20/5/2014. @PMOIndia will be available shortly."
 
Bharatiya Janata Party (BJP), however, has criticised the change in handle by the outgoing PM. It says, “Outgoing team wrongly renamed Twitter handle of @PMOIndia with respect to laws and global norms of handover of digital assets.”
 
Now compare this with the Narendra Modi's personal Twitter handle, @NarendraModi. It has 4.22 million followers, 5,141 tweets and follows 1045 on the micro-blogging site.

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COMMENTS

Prof Rajagopalan

3 years ago

Alice in wonderland

Congress President Sonia Gandhi tendering her resignation to herself being the President, making all pre-arrangements with her henchmen to request her to continue in the post by withdrawing her resignation is viewed as something unheard of in the history of the world. Are we to take Sonia Gandhi as simple and foolish as "Alice in wonderland" and flinging her cap over the windmill taking India as the looking glass house or playing too clever a game with 120 crores of people in the country making it a nation of political eunuchs ? Certainly she has proved wrong! There is a limit to any type of tom foolery!

Atul Auto FY14 net profit up 15% to Rs29.80 crore
For the full year, Atul Auto reported a higher net profit on increase in vehicle sales and higher revenues   
 
Atul Auto Ltd (Atul Auto), the Gujarat based three-wheeler manufacturer, reported a higher full year net profit driven by sales growth.
 
For the 12 month to end-March, Atul Auto said its net profit increased 15% to Rs29.80 crore from Rs25.93 crore while its total revenues, including sales, grew 18% to Rs430.14 crore from Rs363.84 crore, a year ago period.
 
During the full year, Atul Auto said it sold 5,517 (17%) more units of vehicles at 37,557 from 32,040 units, a year ago. 
 
During FY14, Atul Auto said its expenses increased 19% to Rs389.86 crore from Rs328.19 crore a year ago period, It paid taxes of Rs12.95 crore, a 15% more from Rs11.30 crore a year ago period.
 
 
As on 31 March 2014, FIIs shareholding in the company grew to 1.46% from 0.11%, public shareholding grew to 43.47% from 43.27% and promoter shareholding fell to 55.07% from 56.62% compared with a year ago period. However domestic institutional investors (DIIs) are not holding any stake in Atul Auto.
 
 
For the quarter to end-March, Atul Auto said its net profit grew 12% to Rs8.45 crore from Rs7.55 crore while its total revenues, including sales, grew 17% to Rs112.59 crore from Rs96.08 crore, same period last year.
 
Atul Auto's reserves and surplus increased 32% to Rs83.27 crore from Rs63.10 crore a year ago period. 
 
Atul Auto declared a final dividend of Rs3.5 per share.
 
 
Atul Auto closed Tuesday 3.8% down at Rs373 on the BSE, while the S&P BSE Sensex ended the day marginally up at 24,470. 
 
For more stock results, check out this page 

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