As expected, the key benchmarks powered their way higher to close at the highs of the day. The momentum increased during last hour of trade with benchmarks fast approaching their all-time high levels. Nifty is nearing our target/resistance level of 6350-6360 and with momentum readings approaching their overbought zones on lower timeframe charts; fresh longs could be fraught with unfavorable risk reward ratio. Traders should continue with their existing long positions and be vigilant of the market moves, as profit booking could emerge near these crucial levels.
The major support for Nifty is placed around 6070. The intraday supports in Nifty are placed around 6250 and 6215, whereas resistances are seen around 6330 and 6360. Nifty November Future has been trading at 32-33 points premium to the spot. The implied volatility on the Nifty November Options of ATM strike calls were at 15.85 and for puts were at 18.24. India VIX closed at 18.39. PCR for Nifty based on open interest was at 1.50 and PCR for the day based on volumes was at 0.93 for the market.
Cash
Market:
FII 5667.87 - 3792 = 1875.87 Cr.
DII 1207.4 - 2041.19 = (833.79) Cr.
FII
Derivatives Market:
| In Cr. | Buy | Sell | Net |
| INDEX FUTURES | 7479.86 | 6989.44 | 490.42 |
| INDEX OPTIONS | 23733.51 | 25792.27 | -2058.76 |
| STOCK FUTURES | 6776.33 | 6498.90 | 277.44 |
| STOCK OPTIONS | 645.56 | 503.04 | 142.51 |
Corporate
Action:
| Ex-Date | Company | Purpose |
| 01-Nov-13 | R Systems International Limited | 2nd Interim Dividend Rs.8.50 Per Share (Purpose Revised) |
| 01-Nov-13 | Nestle India Limited | 2nd Interim Dividend Rs.18/- Per Share (Purpose Revised) |
| 01-Nov-13 | Marico Limited | Scheme Of Arrangement And First Interim Dividend |
Stocks
In News:**
Bank of Baroda net dips 10% on bad-loan provisioning
More money set aside towards bad loans and higher operating expenses weighed on Bank of Baroda’s bottom line in the July-September 2013 quarter. The sector bank reported a 10% drop in net profit at Rs 1,168 cr in the reporting period against Rs 1,301 cr in the year ago period. Growth in net interest income (the difference between interest earned and expended) was almost flat at Rs 2,895 cr (Rs 2,862 cr in the year ago period). The bank set aside Rs 838 cr (Rs 725 cr) towards bad loans. Further, it set aside more (Rs 89 cr vs Rs 41 cr in the year-ago period) by way of provision for standard advances. Operating expenses, including employee costs, rose 33% at Rs 1,744 cr (Rs 1,308 cr). During the quarter, bad loans (in gross terms) increased by Rs 1,125 cr to Rs 10,888 cr as on September-end 2013. Restructured loans increased by Rs 1,485 cr in the reporting quarter to Rs 22,155 cr.
TI standalone net falls 14%
Tube Investments of India Ltd has reported a 14% drop in standalone net profit for the quarter ended September 30, compared with the corresponding quarter last year. In the consolidated performance of the Murugappa Group company, the financial services and insurance businesses contributed to a 10% growth in net profit. The net profit was Rs 31.96 cr (Rs 37.19 cr) on a total income of Rs 864.07 cr (Rs 929.42
cr). The bicycle division registered a 15% drop in volumes. Revenue was Rs 325 cr (Rs 377 cr).
Mahindra sells over 6.5 lakh Boleros
Mahindra & Mahindra Ltd (M&M) has sold more than 6.5 lakh units of its flagship sports utility vehicle (SUV) Bolero in India. The entry-level SUV, launched in 2000, has been the highest selling for the past seven years. M&M had sold 1.18 lakh vehicles in the financial year 2013, a 17% growth from about 1 lakh units sold during the previous fiscal.
EIH posts Rs 7 cr profit in Q2
EIH Ltd reported a net profit of Rs 7.03 cr in the second quarter to September 30, 2013, against a net loss of Rs 18.30 cr. The company said that it made a profit of Rs 11.34 cr on sale of stake in its subsidiary Mercury Car Rentals Ltd. As a result of this stake sale, MCRL ceased to be its subsidiary and EIH’s stake came down to 40%.
NBCC net up 22% at Rs 60.05 cr in Q2
State-run National Buildings Construction Corporation Ltd (NBCC) posted a 22% increase in net profit at Rs 60.05 cr for the second quarter ended on September 30, on account of higher income. The company had clocked a net profit of Rs 49.20 cr in the same quarter last year. Total income during July-September period increased to Rs 865.82 cr from Rs 649.84 cr in the same period last year.
Future Retail Q3 net loss at Rs 8 cr
Future Retail Ltd reported net loss at Rs 8 cr for the third quarter ended September 30, 2013. The company had posted net profit of Rs 66 cr in the same quarter last year. The financial numbers are not comparable with September 2012 quarter due to the demerger of the company’s lifestyle fashion businesses that included Central, Brand Factory, Pantaloons, among others. During the quarter, Future Retail’s net sales stood at Rs 2,263 cr. Net sales in the same period last year were at Rs 3,021 cr.
Titan Q2 net up 3.59% at Rs 186.65 cr
Titan Company Ltd reported a 3.59% increase in standalone net profit at Rs 186.65 cr for the second quarter ended September 30, 2013-14. The company had reported net profit of Rs 180.17 cr for the July-September quarter of last fiscal, 2012-13. Titan’s net sales were at Rs 2,290.02 cr during Q2 2013-14, an increase of 1.40% as against Rs 2,258.29 cr in the year-ago period.
Adani Enterprises reports Rs 417 cr net loss in Q2
Hit hard by forex losses and jump in finance costs, Adani Enterprises reported a consolidated net loss of Rs 416.95 cr for its second quarter ended September 30, 2013. The flagship firm of the Adani group had reported a net profit of Rs 320.21 cr in the corresponding quarter of the previous fiscal. On a standalone basis even, the company posted a net loss of Rs 102.25 cr in the last quarter as against a net profit of Rs 141.95 cr reported in the Q2FY13. Consolidated net sales of Adani Enterprises, however, rose by 32% to Rs 13,548.31 cr in the second quarter, as its trading and power businesses reported strong revenue growth.
Dr Reddy’s peaks in Q2 as net profit surges 76% to Rs 690 cr
Aided by high-margin product launches in North America and strong growth in emerging markets, Dr Reddy’s Laboratories Ltd recorded its highest sales and profit numbers for the July-September quarter. The company’s consolidated net profit increased 76% to Rs 690 cr in the second quarter, from Rs 392 cr a year ago. Revenue went up 17% to Rs 3,357 cr. Its earnings per share stood at Rs 40.47 against Rs
More money set aside towards bad loans and higher operating expenses weighed on Bank of Baroda’s bottom line in the July-September 2013 quarter. The sector bank reported a 10% drop in net profit at Rs 1,168 cr in the reporting period against Rs 1,301 cr in the year ago period. Growth in net interest income (the difference between interest earned and expended) was almost flat at Rs 2,895 cr (Rs 2,862 cr in the year ago period). The bank set aside Rs 838 cr (Rs 725 cr) towards bad loans. Further, it set aside more (Rs 89 cr vs Rs 41 cr in the year-ago period) by way of provision for standard advances. Operating expenses, including employee costs, rose 33% at Rs 1,744 cr (Rs 1,308 cr). During the quarter, bad loans (in gross terms) increased by Rs 1,125 cr to Rs 10,888 cr as on September-end 2013. Restructured loans increased by Rs 1,485 cr in the reporting quarter to Rs 22,155 cr.
TI standalone net falls 14%
Tube Investments of India Ltd has reported a 14% drop in standalone net profit for the quarter ended September 30, compared with the corresponding quarter last year. In the consolidated performance of the Murugappa Group company, the financial services and insurance businesses contributed to a 10% growth in net profit. The net profit was Rs 31.96 cr (Rs 37.19 cr) on a total income of Rs 864.07 cr (Rs 929.42
cr). The bicycle division registered a 15% drop in volumes. Revenue was Rs 325 cr (Rs 377 cr).
Mahindra sells over 6.5 lakh Boleros
Mahindra & Mahindra Ltd (M&M) has sold more than 6.5 lakh units of its flagship sports utility vehicle (SUV) Bolero in India. The entry-level SUV, launched in 2000, has been the highest selling for the past seven years. M&M had sold 1.18 lakh vehicles in the financial year 2013, a 17% growth from about 1 lakh units sold during the previous fiscal.
EIH posts Rs 7 cr profit in Q2
EIH Ltd reported a net profit of Rs 7.03 cr in the second quarter to September 30, 2013, against a net loss of Rs 18.30 cr. The company said that it made a profit of Rs 11.34 cr on sale of stake in its subsidiary Mercury Car Rentals Ltd. As a result of this stake sale, MCRL ceased to be its subsidiary and EIH’s stake came down to 40%.
NBCC net up 22% at Rs 60.05 cr in Q2
State-run National Buildings Construction Corporation Ltd (NBCC) posted a 22% increase in net profit at Rs 60.05 cr for the second quarter ended on September 30, on account of higher income. The company had clocked a net profit of Rs 49.20 cr in the same quarter last year. Total income during July-September period increased to Rs 865.82 cr from Rs 649.84 cr in the same period last year.
Future Retail Q3 net loss at Rs 8 cr
Future Retail Ltd reported net loss at Rs 8 cr for the third quarter ended September 30, 2013. The company had posted net profit of Rs 66 cr in the same quarter last year. The financial numbers are not comparable with September 2012 quarter due to the demerger of the company’s lifestyle fashion businesses that included Central, Brand Factory, Pantaloons, among others. During the quarter, Future Retail’s net sales stood at Rs 2,263 cr. Net sales in the same period last year were at Rs 3,021 cr.
Titan Q2 net up 3.59% at Rs 186.65 cr
Titan Company Ltd reported a 3.59% increase in standalone net profit at Rs 186.65 cr for the second quarter ended September 30, 2013-14. The company had reported net profit of Rs 180.17 cr for the July-September quarter of last fiscal, 2012-13. Titan’s net sales were at Rs 2,290.02 cr during Q2 2013-14, an increase of 1.40% as against Rs 2,258.29 cr in the year-ago period.
Adani Enterprises reports Rs 417 cr net loss in Q2
Hit hard by forex losses and jump in finance costs, Adani Enterprises reported a consolidated net loss of Rs 416.95 cr for its second quarter ended September 30, 2013. The flagship firm of the Adani group had reported a net profit of Rs 320.21 cr in the corresponding quarter of the previous fiscal. On a standalone basis even, the company posted a net loss of Rs 102.25 cr in the last quarter as against a net profit of Rs 141.95 cr reported in the Q2FY13. Consolidated net sales of Adani Enterprises, however, rose by 32% to Rs 13,548.31 cr in the second quarter, as its trading and power businesses reported strong revenue growth.
Dr Reddy’s peaks in Q2 as net profit surges 76% to Rs 690 cr
Aided by high-margin product launches in North America and strong growth in emerging markets, Dr Reddy’s Laboratories Ltd recorded its highest sales and profit numbers for the July-September quarter. The company’s consolidated net profit increased 76% to Rs 690 cr in the second quarter, from Rs 392 cr a year ago. Revenue went up 17% to Rs 3,357 cr. Its earnings per share stood at Rs 40.47 against Rs
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in Ban Period:
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Source:**economictimes.com , nseindia.com
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