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Sensex, Nifty strong; ICICI, HDFC Bank, Tata Motors up 2%

Aug 14, 2014, 02.51 PM IST | Source: Moneycontrol.com

Shares of ICICI Bank, HDFC Bank, Tata Motors, Sesa Sterlite, GAIL and Tata Power rallied 2-3 percent followed by Larsen and Toubro, ONGC, Sun Pharma, Axis Bank, Tata Steel and NTPC with 1-1.7 percent.

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Sensex, Nifty strong; ICICI, HDFC Bank, Tata Motors up 2%

Shares of ICICI Bank, HDFC Bank, Tata Motors, Sesa Sterlite, GAIL and Tata Power rallied 2-3 percent followed by Larsen and Toubro, ONGC, Sun Pharma, Axis Bank, Tata Steel and NTPC with 1-1.7 percent.

14:45

The News International Team

02:40pm Interview

Kohinoor Foods, one of the largest basmati rice exporters from India, aims to clock turnover of Rs 1,475 crore in FY15. Speaking to CNBC-TV18 about the financial performance of the company in Q1FY15 and the road ahead, managing director Satnam Arora said the company expects 15 percent jump in overall basmati production for FY15. 

He further added that its export markets continue to perform well and Kohinoor Foods has managed to make a good entry into Iran market. “The order inflows are growing with steady momentum from Iran market,” he said. However, its domestic growth continues to remain sluggish, Arora said.

02:20pm Hindalco Industries in News

World’s largest aluminium rolling company Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to Rs 327.5 crore dented by higher power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was Rs 474.1 crore.

Total income from operations jumped 37 percent to Rs 7,996 crore in the quarter ended June 2014 from Rs 5,838 crore in same quarter last year supported by both copper as well as aluminium businesses.

“Copper revenue grew by 37.3 percent on yearly basis to Rs 4,990.3 crore with earnings before interest and tax (EBIT) rising 28.5 percent while aluminium business reported 36.2 percent growth at Rs 3,011.30 crore with EBIT increasing nearly 4 times,” said the company in its filing.

02:00pm Equity benchmarks extended rally in afternoon trade with the Sensex gaining 166.81 points at 26085.76 and the Nifty rising 41.90 points to 7781.45 supported by private banks, oil & gas, auto (select), steel and healthcare stocks.

About 1495 shares have advanced, 1278 shares declined, and 127 shares are unchanged.
 
Shares of ICICI Bank, HDFC Bank, Tata Motors, Sesa Sterlite, GAIL and Tata Power rallied 2-3 percent followed by Larsen and Toubro, ONGC, Sun Pharma, Axis Bank, Tata Steel and NTPC with 1-1.7 percent.

Drug maker Cipla gained over a percent ahead of Q1 earnings. Net profit is expected to decline 28 percent year-on-year to Rs 347.8 crore while revenue may increase by 23 percent to Rs 2830.4 crore in the quarter ended June 2014.

However, Hero Motocorp dropped 2.5 percent after MSCI reduced stock’s weightage to 0.62 percent from 1.24 percent in its India Equity Index. HDFC fell nearly 2 percent.

13:23

Sensex, Nifty steady; banks, infra, pharma lend support

The Sensex is up 132.43 points at 26051.38 and the Nifty is up 32.05 points at 7771.60. About 1352 shares have advanced, 1281 shares declined, and 119 shares are unchanged. GAIL, Sesa Sterlite, Tata Motors, ICICI Bank and HDFC Bank are top gainers in the Sensex. Among the laggards are Hero, HDFC, Wipro, Bharti and Tata Steel.

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12:00

Sensex, Nifty, Midcap & Smallcap firm; WPI inflation easesRead More »

Shares of Tata Motors, Sesa Sterlite and Gail India topped the buying list, up more than 2 percent followed by HDFC Bank, ICICI Bank, Larsen and Toubro, Sun Pharma and Maruti Suzuki with 1-1.8 percent.

Read More »

11:01

Nifty races towards 7800; GAIL up 3%, Hero drags 3%Read More »

GAIL, Sesa Sterlite, Hindalco, ICICI Bank and Sun Pharma are top gainers in the Sensex. Among the losers are Hero Motocorp, HDFC, Bajaj Auto, Tata Steel and Wipro.

Read More »

10:00

Sensex hits 26000, Nifty above 7750; banks, IT, FMCG leadRead More »

Shares of HDFC Bank, ITC, ICICI Bank, TCS, Larsen and Toubro, Sun Pharma, Mahindra and Mahindra, Hindalco Industries, Sesa Sterlite and Gail India gained 1-1.7 percent followed by Infosys, Reliance Industries and Tata Motors with marginal gains.

Read More »

09:11

Sensex, Nifty flat; ONGC, Tata Steel fall 1% post Q1 resultRead More »

Sun Pharma, L&T, Tata Power, HDFC and ICICI Bank are top gainers in the Sensex. Among the losers are ONGC, Tata Steel, Sesa Sterlite, Bharti and ITC.

Read More »

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