Stocks
Sensex, Nifty may record further gains – Wednesday closing report

The market has moved to uncharted territory. For the uptrend to reverse, the Nifty  has to close below any previous day’s low

 

In line with most of the Asian indices, the benchmarks in India also rose further on Wednesday. With the seventh consecutive session of positive closing, both the S&P BSE Sensex and CNX Nifty ended the day at their all-time highs. Positive data from the US also helped the upward momentum to continue.


Sensex and Nifty opened in the positive at 26,130 and 7,795, respectively. Sensex hit its high at 26,189 while Nifty hit its all-time high at 7,809. In today's volatile session, both Sensex and Nifty gave up all the intraday gain when it hit its low for the day at 26,000 and 7,753, respectively. Howeer, both made a smart recovery and closed at 26,147 (up 122 points or 0.47%) and at 7,796 (up 28 points or 0.36%). The NSE recorded a volume of 86.38 crore shares. India VIX rose 0.34% to close at 14.6900.

 

Among the other indices on the NSE, the top five gainers were IT (2.18%), PSU Bank (0.68%), Service (0.67%), CNX 100 (0.25%) and Bank Nifty (0.23%) while the top five losers were Media (1.11%), Smallcap (0.65%), Commodities (0.54%), MNC (0.53%) and CPSE (0.49%).


Of the 50 stocks on the Nifty, 22 ended in the green. The top five gainers were BPCL (3.95%), Infosys (3.45%), Bank of Baroda (2.95%), Hindalco (2.66%) and Wipro (2.10%). The top five losers were Ambuja Cements (3.18%), UltraTech Cement (2.80%), ACC (2.34%), IDFC (2.14%) and Grasim (1.77%).


Of the 1,610 companies on the NSE, 579 companies closed in the green, 957 companies closed in the red while 74 companies closed flat.


The Reserve Bank of India (RBI) on Tuesday said that it is expected that about 4-6 banks may be designated as domestic systemically important banks (D-SIBs) and that the RBI will disclose the names of the banks classified as D-SIBs in the month of August every year starting from 2015.


Infosys has secured a multi-year deal from automaker maker Daimler AG for the management of infrastructure services and data centres. Infosys would provide management of infrastructure services and data centres, e-collaboration and middleware services as well as overseeing database operations. Infosys (3.46%) was the top gainer in Sensex 30 pack.


The Appellate Tribunal for Electricity (APTEL) has allowed Tata Power to charge higher rates from state utilities since March this year, on account of a rise in the cost of imported fuel. However the company is disallowed from collecting arrears before March this year. Tata Power (1.25%) was among the top two losers in the Sensex 30 stock.
MCX-SX has written to market regulator SEBI saying that it wants to end its business ties with Financial Technologies. Financial Technologies (9.99%) was again today the top gainer in the ‘A’ group on the BSE.


MRF posted a net profit of Rs230.22 crore for the quarter ended June 2014 as compared to the net profit of Rs227.28 crore for the quarter ended June 2013. While its total revenue increased to Rs 3,336.98 crore from Rs3,051.46 crore for the relevant period. The company declared an interim dividend of Rs3 per share (FV Rs10 per share) for the year ending 30 September 2014. MRF (6.03%) was among the top two gainers in the ‘A’ group on the BSE.


According to reports, Attorney General Mukul Rohatgi has told the Central Bureau of Investigation (CBI) to file a charge-sheet against former minister for telecom, Dayanidhi Maran and his brother Kalanidhi Maran in the Aircel-Maxis deal. Dayanidhi Maran is accused of coercing C Sivasankaran to sell his entire stake in Aircel, a mobile service provider, to Malaysia-based Maxis group. Kalanithi Maran held 75% stake in Sun TV Network as of 30 June 2014. Sun TV (7.07%) was the top loser in the ‘A’ group on the BSE.


US indices closed Tuesday in the green zone. The US consumer price index increased 0.3% in June 2014 after a 0.4% gain in May 2014, figures from the Labour Department showed. Purchases of existing houses advanced 2.6% to a 5.04 million annual rate in June 2014, the National Association of Realtors reported.


Except for Nikkei 225 (0.10%) and Seoul Composite (0.03%) all the other Asian indices which were trading today closed in the green. Hang Seng (0.80%) was the top gainer.

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TCS market cap crosses Rs5 lakh crore

The market cap of the Tata group IT company stood at Rs5.07 lakh crore. TCS is followed by state-run ONGC at Rs3.48 lakh crore, RIL at Rs3.31 lakh crore, ITC at Rs2.78 lakh crore and Coal India at Rs2.43 lakh crore

 

Tata Consultancy Services (TCS) on Wednesday attained a market valuation of over Rs5 lakh crore for the first time, helped by a rally in the stock. The market capitalisation (m-cap) of TCS surged to Rs5.07 lakh crore, the highest for the company since its listing in 2004.

In dollar terms, TCS’ market valuation rose to $83 billion.

Interestingly, TCS’s current market capitalisation is higher than the combined valuation of Infosys (Rs1.90 lakh crore), HCL Technologies (Rs1.08 lakh crore), Wipro (Rs1.40 lakh crore) and Tech Mahindra (Rs50,416.95 crore).

TCS rose 2.21% to close Wednesday at Rs2,586.90 on the BSE, after touching a  a new 52-week high at Rs2,595 during the day.

The Tata group company's share has been in strong position, rallying more than 8% in five consecutive sessions from last Thursday, after the company posted a 45% jump in June quarter net profit.

TCS is also currently the country’s most valued company in terms of market valuation.

The IT major was followed by State-run ONGC whose m-cap stood at Rs3.48 lakh crore, Reliance Industries Ltd (RIL) Rs3.31 lakh crore, ITC (Rs2.78 lakh crore) and Coal India (Rs2.43 lakh crore).

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Value Investing
There are many approaches to stock investing, one of the most popular being value investing. The basic idea is to identify stocks that are undervalued. For this, several methods are used, some simple and others complex. We follow a certain formula which has worked well for both, the Street Beat section and KenSource Stockletters. We will share with you some of the simple approaches to pick...
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