Financials

Reliance Infrastructure (RInfra) Monday announced its financial results for the year ended March 31, 2014, with a net profit of Rs.1,914 crore ($319 million), an increase over the corresponding previous year’s Rs.1,872 crore.

The total income for financial year 2014 was Rs.20,274 (&3.4 billion), against Rs.23,433 crore in the previous financial year when there was exceptional item of Rs.379 crore pertaining to sale of RPower shares through Offer For Sale mechanism.

A benchmark index of Indian equities markets Monday closed 241 points higher on the back of hopes that the new Narendra Modi-led government would take steps to revive the economy.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) opened at 24,340.32 points and ended trade at 24,363.05 points, up 241.31 points or one percent from the previous day’s close at 24,121.74 points.

The Sensex touched a high of 24,448.47 points and a low of 24,107.99 points intra-day.

Continuing its upward journey, the benchmark BSE Sensex spurted by nearly 276 points in opening trade today on sustained fund inflows on hopes of a stable government at the Centre after the BJP-led NDA’s victory in the Lok Sabha elections.

Sectoral indices led by realty, PSUs, capital goods and bankings stocks continued to trade in the positive territory with gains up to 2.54 per cent.

The 50-share NSE Nifty also gained 65.40 points, or 0.91 per cent, to 7,268.40.

Extending its rising streak for the fourth straight session, the rupee today jumped by another 32 paise to trade at a fresh 11-month high of 58.47 against the US dollar in early trade on sustained foreign capital inflows after the BJP-led NDA swept the Lok Sabha elections.

Increased selling of the dollar by banks and exporters amid sustained foreign capital inflows supported the rupee, dealers said.

Besides, a strong rally in domestic equity market in opening trade and the euro’s gain against the dollar overseas also helped the rupee, they added.

Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells products under Amul brand, is going to invest around Rs 4,000-4,500 crore in next two financial years for processing higher quantity of milk.

GCMMF has already increased its milk processing capacity to 230 lakh litres per day from 170 lakh litres per day in last three years.

“We are looking to invest around Rs 4,000-4,500 crore by the end of 2015-16, mainly on setting up new milk processing plants and other dairy products processing units,” GCMMF managing director RS Sodhi told PTI.

The foreign exchange reserves rose by $1.97 billion to $313.83 billion in the week ended May 9, on higher currency assets.

Previous week, the total reserves rose by $1.94 billion to $311.86 billion. Foreign currency assets (FCAs), a major part of the overall reserves, increased by $1.978 billion to $286.549 billion in the period, RBI said.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

The gold reserves remained unchanged at $20.965 billion, as per the RBI data.

Rakesh Jhunjhunwala, Partner, Rare Enterprises, caught up by the Econonmics Times for his take on the poll verdict, current market scenario and his expectations from the new government.

Triumphant of a non-Congress party with a majority in Parliament in the Lok Sabha is the first time in the history of Independent India. This by itself is a very historical event which has happened in India.

Subsequently, it is the indication of the maturity of Indian democracy. The BJP has performed splendidly in the seats in which the Muslims have got very large voting in Uttar Pradesh.

A fresh boost to domestic markets Friday with the BSE benchmark Sensex zooming to new all-time high of 25,375.63 and NSE Nifty surging to 7,563.50.

BJP was leading in 315 constituencies according to the trends available at 534 seats across the country.

The Nifty hit a record high of 7,563.50.HDFC Bank rose 7.8 percent with the NSE banking index hitting a record high of 15,742.05 points while Lenders such as ICICI Bank surged nearly 10 percent.

Among other blue-chips Reliance Industries gained 6.1 percent while HDFC gained 4 percent.

Indian stocks were virtually on fire leading a key index to breach 25,000 points mark, as Narendra Modi-led Bharatiya Janata Party took a big early lead in India’s national election vote count.

Around 10.50 a.m., the sensitive index (Sensex) of the Bombay Stock Exchange was ruling at a never before high of 25,375.63 points against the previous close of 23,905.60 points, to log a single-day gain of 871.39 points, or 3.65 percent.

Markets watchdog SEBI on Thursday said the stock exchanges are prepared to deal with “any irregularity” in trading on Friday, when the results for the 2014 Lok Sabha elections are to be announced.

“We want to assure investors that we are prepared for any eventuality and if anyone indulges in any irregularity in the market, we are fully prepared for that,” Sebi Chairman UK Sinha told reporters on the sidelines of an Assocham conference here.

(17:32)

Mumbai, May 14 (IANS) A benchmark index of Indian equities markets Wednesday closed in the negative territory — down 56 points or 0.24 percent — after three consecutive sessions of record gains, as oil and gas and capital goods stocks came under heavy selling pressure.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE) had Tuesday crossed the 24,000-mark for the first time in its history recording 24,068.94 points.

The rupee weakened by 14 paise to 60.31 against the US dollar in early trade at the Interbank Foreign Exchange market on Thursday on disappointing IIP numbers.

Forex dealers said dollar’s gains against other currencies overseas and increased demand for the American unit from importers also weighed on the rupee but a higher opening of the domestic equity market capped the fall.

The benchmark BSE Sensex rebounded nearly 152 points in early trade today as funds and investors indulged in enlarging positions ahead of the outcome of the Lok Sabha elections amidst a mixed trend in Asian markets.

The 30-share index, which had slipped from record-high levels by falling 56.11 points in yesterday’s trade, recovered by 151.78 points, or 0.64 per cent, to trade at 23,966.90.

The benchmark BSE Sensex rose over 108 points in early trade on Thursday, following gains in IT stocks, after Infosys reported a better-than-expected rise of 24.9 percent in Q4 net profit at Rs 2,992 crore.

However, disappointing IIP numbers released after market hours on Friday, limited the gain.

Besides, a mixed trend in the other Asian markets also influenced the trading sentiment here.

The benchmark BSE Sensex rose 33 points in early trade today on sustained buying by funds and retail investors amid a mixed trend in other Asian markets.

The 30-share index was up by 33.00 points, or 0.13 per cent, to 23,904.23. The gauge had touched an all-time intra-day high of 24,068.94 in yesterday’s trade.

The Sensex had gained 1,527.19 points in the previous three sessions after exit polls predicted that BJP-led NDA will form the government at the Centre. The NSE Nifty also moved up by 15.40 points, or 0.21 per cent, to 7,124.15.

A benchmark index of Indian equities markets continued its record run for the third consecutive day Tuesday when it reached a fresh high of over 24,000 points.

This surpassed its previous record of 23,573 points hit Monday as the exit polls showed the Bharatiya Janata Party and its allies closing in on a majority in just-ended country’s general elections.

All the sectors were trading in green. The rally was led by capital goods, banking, oil and gas, metal, consumer durables, auto, IT and technology, media and entertainment (TECK) sectors.

The BSE benchmark Sensex on Tuesday breached 24,000 levels for the first time on the brightness backed by exit polls forecast that shows a stable government led by BJP coming to power at the Centre.

All the sectoral indices led by oil and gas, power, PSUs, banking, realty and capital goods sectors are trading in the positive zone.The 30-share Sensex rose by over 514.82 points to trade at an all-time high of 24,066 while the 50-share NSE Nifty zoomed 128.70 to trade at 7,143.

The Reserve Bank of India was a net buyer of dollars worth USD 7.78 billion in the spot forex market in March.

As per the data of Monthly Bulletin for May 2014, the central bank purchased USD 8.75 billion in March while it sold USD 970 million during the month.

However, in February, RBI had sold a net USD 530 million in the spot forex market.

For the entire 2013-14, there were net buys of USD 8.99 billion, showed the data.

RBI sells and purchases dollar in the market to check currency volatility.

The rupee became stronger by 45 paise to 59.60 against the US dollar in early trade today at the Interbank Foreign Exchange market amidst exit polls forecasting the BJP-led NDA forming the government at the Centre.

Increased selling of the dollar by banks and exporters amid sustained foreign capital inflows also supported the rupee, dealers said.

Besides, strong rally in domestic equity market in opening trade also helped the rupee post gains but dollar’s strength against other currencies overseas limited the gains, they added.

Riding on the exit polls forecast that shows a stable govt led by BJP coming to power at the Centre, the benchmark BSE Sensex hit yet another record high of 23,921.91 in opening trade today on heavy fund inflows.

All the sectoral indices led by oil and gas, PSUs, power, banking, realty and capital goods sectors were trading in the positive zone with gains up to 2.21 per cent.

The 50-share NSE Nifty also breached the psychological 7,100 mark for the first time by surging 101.95 points, or 1.45 per cent, to trade at a new high of 7,116.20.

Stocks markets continued their record-breaking show as BSE benchmark Sensex ended at new closing high of 23,551 and NSE Nifty at 7,014.25 in anticipation that exit polls later today will show formation of a stable government at the Centre.

Intra-day, the Sensex rallied to an all-time high of 23,572.88, surpassing previous high of 23,048.49 and the Nifty touched 7,020.75, breaking the earlier high of 6,871.35.

Continuing its record-setting spree, the benchmark BSE Sensex surged nearly 459 points to hit new record high of 23,453.29 ahead of the exit poll results after market hours. The rally was led by strong showing in banking, capital goods, oil and gas and PSU stocks amidst sustained capital inflows.

A benchmark index of Indian equities markets touched a record high of 23,410.36 points Monday, surpassing its previous record of 23,048.49 points hit Friday, ahead of exit polls results.

Good buying was observed in banking, capital goods, oil and gas, metal and auto sectors, while selling pressure was seen in healthcare sector.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 23,031.11 points, was trading at 23,375.31 points in the pre-noon session, up 381.08 points or 1.66 percent from the previous day’s close at 22,994.23 points.

The benchmark BSE Sensex climbed to a new record high of 23,332.90 in opening trade today as fund investors indulged in creating positions ahead of the exit poll results amid a firming trend in the Asian markets.

The 30-share index, which had posted biggest single-day gain of 650.19 points on Friday since September 2013, rallied by another 338.67 points, or 1.47 per cent, to trade at fresh record high of 23,332.90 points.

All the sectoral indices were trading in the positive territory with gains of up to 2.70 per cent.

The market valuation of top seven Sensex firms advanced by Rs 84,494.52 crore last week, in line with an overall strong stock market with RIL and ONGC emerging as the biggest gainers.

The list of gainers include ITC, CIL, HDFC Bank, SBI and ICICI Bank, while those who suffered losses in their market capitalisation (m-cap) were TCS, Infosys and HDFC.

The m-cap of RIL surged Rs 22,319.67 crore to Rs 3,22,369.67 crore, becoming the top gainer among the country’s 10 most valued firms.