Epic Research Closing Bell ~ Market Updates Tips Tricks Recommendations

Epic Research Closing Bell

Sensex ended down 143.84 points or 0.6 percent at 26121.40, and the Nifty slipped 39.10 points or 0.5 percent at 7915.20. About 1491 shares have advanced, 1127 shares declined, and 127 shares are unchanged. Tata Motors, Maruti, ITC, Vedanta and SBI were top gainers while Sun Pharma, BHEL, Dr Reddy’s Labs, Wipro and ICICI Bank were losers in the Sensex.

Jet Airways will acquire 75 fuel-efficient 737 MAX 8 aircraft from US plane maker Boeing. The decision to buy new single-aisle aircraft was confirmed at the biennial Dubai Air show today, according to a Boeing release. The deal price was not disclosed in the release. Jet Airways will be the first airline in India to take delivery of the 737 MAX planes, it said, adding this also marks the largest order in Jet Airways’ history and supports the airline’s aircraft replacement strategy with modern planes. The order includes conversions of 25 Next-Generation (NG) 737s to 737 MAX 8s, as well as options and purchase rights for an additional 50 aircraft. The new single-aisle airplane will deliver 20 percent lower fuel use than the first NG 737s and the lowest operating costs in its class.

Tata Power Company has turned profitable in July-September quarter. Consolidated net profit stood at Rs 247.3 crore during the quarter against loss of Rs 77.75 crore in year-ago period on strong operational performance.Revenue increased by 11 percent to Rs 9,541.2 crore in second quarter of FY16 compared to Rs 8,584 crore in same quarter last fiscal, led by power business (TPTCL and TPSSL) that grew 10.4 percent but coal segment revenue dropped 13.4 percent.

Bharat Petroleum Corporation’s (BPCL) July-September quarter net profit declined 57 percent sequentially to Rs 1,018 crore but more than doubled compared to Rs 464.22 crore in year-ago period. Revenue dropped 10.6 percent quarter-on-quarter and 25 percent year-on-year to Rs 46,473 crore during the quarter. Other income shot up 108 percent to Rs 686.5 crore from Rs 330 crore while tax expenses were down 57.5 percent to Rs 476 crore from Rs 1,120 crore on sequential basis. Crude throughput declined to 5.96 million tonne during the quarter compared to 6.07 million tonne in preceding quarter and 6.09 million tonne in year-ago period. BPCL’s average gross refining margin during April-September period of 2015 was USD 6.2 a barrel against USD 2.36 a barrel in same period last fiscal.

Glenmark Pharma has received final approval from the US health regulator for its cream used for treatment of fungal skin infections. It has been granted final approval by the United States Food & Drug Administration (USFDA) for Clotrimazole and Betamethasone Dipropionate cream USP, 1 percent 0.05 percent,” the company said in a statement. The product is generic version of Merck, Sharp and Dohme Corporation’s Lotrisone cream in the same strength.

Adani Ports and Special Economic Zone (APSEZ), India’s largest port developer and operator, will acquire the Kattupalli Port in Tamil Nadu from L&T Shipbuilding Ltd (LTSB) a subsidiary of Larsen and Toubro Ltd. The company did not disclose the financial details of the transaction. Adani Ports said in a stock exchange filing that its subsidiary Adani Kattupalli Port Pvt. Ltd has entered into an in-principle agreement for the strategic acquisition. The transaction is subject to necessary approvals from the government of Tamil Nadu and the central government, and the port being demerged from LTSB.

Allahabad Bank has reported 25.21% rise in its net profit at Rs 177.1 crore for the quarter ended September 30, 2015 as compared to Rs 141.44 crore for the same quarter in the previous year. However, the bank’s total income has decreased by 1.84% to Rs 5317.06 crore for the quarter under review from Rs 5416.63 crore for the corresponding quarter of the previous year.

SREI Infrastructure Finance has reported 61.57% fall in its net profit at Rs 8.15 crore for the quarter ended September 30, 2015 as compared to Rs 21.21 crore for the same quarter in the previous year. However, the company’s total income has increased by 7.34% to Rs 505.96 crore for the quarter under review from Rs 471.36 crore for the corresponding quarter of the previous year.

Andhra Bank has reported 73.89% rise in its net profit at Rs 251.26 crore for the quarter ended September 30, 2015 as compared to Rs 144.49 crore for the same quarter in the previous year. The bank’s total income has increased by 7.25% to Rs 4744.16 crore for the quarter under review from Rs 4423.62 crore for the corresponding quarter of the previous year.

Commodities

Uptick in demand lifts mentha oil 0.6% in futures trade; Zinc up 0.5% on global cues; Cardamom up by 3.9% on rising demand; Nickel up 0.6% on positive global cues, spot demand; Coriander down 2% on higher supply; Palm oil up 1.3% on spot demand; Silver futures up by 0.6% on global cuesData to Watch