Sensex, Nifty give up gains after hitting all time high: Tuesday closing report

Nifty will be directionless though any decline will attract buyers

Ahead of April futures and options expiry, the bourses witnessed a highly volatile session. In the initial hour and half, the benchmark hit its life time high but soon started giving up gains, finally closing marginally lower than its yesterday's close.
Sensex opened at 22,771 while the Nifty opened at 6,823. Sensex hit a high of 22,853 and moved to hit a low of 22,727 and closed at 22,758 (down 6 points or 0.03%) while the Nifty moved lower to the level of 6,806 from the level of 6,838. Nifty closed at 6,815 (down 2 points or 0.03%). The NSE recorded a volume of 79.23 crore shares.

The top five gainers among the other indices on the NSE are C P S E (0.90%), Energy (0.81%), P S E (0.64%), Infra (0.50%) and Finance (0.30%). The five losers were Media (1.83%), P S U Bank (1.18%), Metal (0.76%), M N C (0.57%) and Nifty Midcap 50 (0.56%).
Of the 50 stocks on the Nifty, 19 ended in the green. The top five gainers were B P C L (4.37%), Lupin (2.83%), Gail (1.75%), H D F C Bank (1.71%) and L T (1.69%). The top five losers were Sesa Sterlite (4.12%), Wipro (2.65%), P N B (2.22%), Jindal Steel (1.86%) and IndusInd Bank (1.63%).
Of the 1,565 companies on the NSE, 747 closed in the green, 731 closed in the red while 87 closed flat.

The monsoon in India, which provides more than 70% of annual rainfall, will be normal this year amid forecasts for the emergence of an El Nino that previously caused droughts, government officials said.
Larsen & Toubro (L&T) on Monday said that it is calling off its joint venture with Future Generali Insurance. Larsen & Toubro had on 26 March 2013 announced that their general insurance subsidiary L&T General Insurance (LTGI) was in talks with Future Generali Insurance (FGI) for the formation of a joint venture (JV) that would combine and continue the business of general insurance in India. L&T (up 1.65%) was the top gainer in the Sensex 30 pack.
Yesterday’s top gainer Sesa Sterlite (down 4.01%) ended as the highest loser among the Sensex stocks. Supreme Court on Monday allowed mining in the top iron ore exporting Goa state with an upper limit of 20 million tonne per year.
Unitech was in the news that it plans to increase its construction spending so that it can deliver at least six million sq ft of developed area this financial year.  The company was among the top two gainers in ‘A’ group on BSE.
Although the revenue of MRF increased for the March 2014 quarter over March 2013 quarter, its net profit fell. MRF was the top loser in ‘A’ group on the BSE, it fell 7.14% to closed at Rs 21,879.50.
US indices closed in the positive on Monday.
The Chicago Fed National Activity Index decreased slightly in March. However, the Conference Board's leading economic index rose in March and February, signaling that growth could accelerate in coming months.
Except for Nikkei 225 (0.85%) and Hang Seng (0.13%) all the other Asian indices ended mostly in the green. Straits Times (0.67%) was the top gainer.
European indices were trading in the green while US Futures were trading flat.


HDFC Bank FY14 net profit up 26% to Rs8,478 crore

For FY14, HDFC Bank reported a net profit of Rs8,478 crore mainly on increase in its net interest income and growth in its loan portfolio

HDFC Bank Ltd, the second largest private sector bank in India, reported a 26% higher net profit for FY2013-14 mainly on increase in its net interest income (NII) and growth in its loan portfolio.

For the 12 month to end-March, HDFC Bank said its net profit increased 26% to Rs8,478.8 crore from Rs6726.28 crore, while its total revenues, including interest income, grew 17% to Rs49,055.18 crore from Rs41,917.49 crore,  a year ago period.

During FY14, the private sector lender said NII and other income increased 16.5% to Rs26,402.3 crore from Rs22,663.7 crore of FY13. However, its net interest margin (NIM) declined marginally to 4.4% compared with 4.5% of FY13.

As on 31 March 2014, total advances of HDFC Bank increased 26.4% to Rs3.03 lakh crore. HDFC Bank's total deposits during the year increased 24% to Rs3.67 lakh crore and saving account deposits grew 16.9% to Rs1.03 lakh crore while current account deposit grew 17.5% to Rs61,488 crore, compared with same period a year ago. HDFC Bank’s CASA deposits stood at 44.8% of total deposits as on 31 March 2014.

As on 31 March 2014, HDFC Bank's capital adequacy ratio (CAR) stood at 16.1%, gross non performing assets ratio (GNPAs) stood at 0.98% of total advances. Its net non-performing assets stood at 0.3% of net advances.  
For the quarter to end-March, HDFC Bank said its net profit grew 23% to Rs2,326.52 crore from Rs1,889.14 crore while its total revenues, including interest income, grew 15% to Rs12,789.98 crore from Rs11,127.54 crore, same period last year.

As on 31 March 2014, the bank's total number of branches (including extension counters) and ATM network stood at 3,403 and 11,256, respectively.

HDFC Bank declared a final dividend of Rs6.85 per share.

HDFC Bank closed Tuesday 1.36% up at Rs726.35 on the BSE, while the 30-share Sensex ended the day flat at 22,758.

For more stock results, check out this page


Persistent Systems FY14 net profit up 32% to Rs249.27 crore

For FY14, Persistent Systems reported a net profit of Rs249.27 crore on robust revenue growth in its infrastructure and healthcare business

Persistent Systems Ltd, information technology (IT) and software services provider, reported a 32% higher net profit during FY2014 on strong revenue growth from its infrastructure and systems as well as life sciences and healthcare business.

For the 12-months to end-March, Persistent Systems said, its consolidated net profit increased 32.9% to Rs249.27 crore from Rs187.61 crore, while its total revenues grew 28.9% to Rs1,669.15 crore from Rs1,294.51 crore, same period last year.

During FY14, the company’s revenues from infrastructure and systems segment grew 41.76% to Rs1,164.02 crore while life sciences and healthcare business grew 53.92% to Rs208.12 crore. However, its revenues from telecom and wireless business fell 12% to Rs296.99 crore compared with FY13.

“We continue to see healthy growth and demand for our expertise in software product development and technology services. The recent formation of Accelerite builds our product-centric business unit, while the rest of Persistent continues to focus on digital transformation and next generation product development services where it is a well-respected market leader”, said, Dr Anand Deshpande,chairman and managing director, Persistent Systems.

For the quarter to end-March, Persistent Systems said, its net profit grew 29.5% to Rs67.19 crore from Rs51.88 crore even as its total revenues rose 33.8% to Rs446.73 crore from Rs333.95 crore in the year ago period.

Persistent Systems declared a final dividend of Rs4 per share.

Persistent Systems closed Tuesday marginally higher at Rs1,062 on the BSE, while the 30-share benchmark Sensex ended the day flat at 22,758.

For more stock results, check out this page


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