10:30am FII View
Bhuvnesh Singh, Barclays says the Q2FY15 earnings season is
off to a positive start as 13 BSE-100 companies have reported so far and 54
percent registered 'beats' on earnings consensus estimates.
“FY15 EPS growth rate estimate for BSE-100 has steadied at
16.8 percent, up 40 basis points since the end of the last earning season. This
compares with 8.6 percent EPS growth in FY14 and 2.8 percent in FY13,” he adds.
“We reiterate our long-term view that positive earnings
momentum is required to sustain the returns of Indian equities,” says Singh.
10:00am Market Check
Equity benchmarks extended gains with the Sensex rising
173.90 points to 26603.75 and the Nifty jumping 49.40 points to 7928.80
supported by banks, capital goods, metals and telecom stocks.
More than two shares advanced for every share declining on
the Bombay Stock Exchange. The broader markets advanced too with the BSE Midcap
and Smallcap indices rising 1 percent and 0.8 percent, respectively.
Jindal Steel and Gail India topped the buying list, gaining
5-5.5 percent followed by NTPC, Hindalco Industries, BHEL and Sesa Sterlite
with 2-3 percent upmove.
ICICI Bank, HDFC
Bank, Tata Motors, Larsen and Toubro, State Bank of India, Axis Bank, Bharti
Airtel, Wipro and Tata Steel jumped 1-1.7 percent. However, ONGC and Coal India
were top losers, falling over a percent followed by ITC with 0.7 percent loss.
PNB gained nearly 2
percent ahead of its results. CNBC-TV18 poll expects a 10 percent NII growth at
Rs 4,421 crore and a 142 percent jump in profits to Rs 1,224 crore.
BGR Energy surged 4 percent on the back of an order win of
Rs 250 crore. Order is for the electrical sub stations segment of the
electrical projects division.
Shriram Transport Finance fell 2.5 percent after Q2 profit
declined 7.5 percent on the back of a rise in provisions. NII growth was steady
at 12 percent.
Punjab Communications surged 5.5 percent as the Punjab
government through a cabinet committee on disinvestment has decided to
liquidate all assets of the company. The government holds 71.2 percent stake in
the company
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