Sensex consolidates, Midcap outperforms; Axis.....!
HDFC twins fall Benchmark indices remained volatile in morning ahead of corporate earnings and Union Budget that scheduled to be announced on Globally investors awaited Friday's inauguration of Donald Trump as US president. indices continued to consolidate. The Sensex was up 30.11 points at 27287.75 and the Nifty gained 3.75 points at 8420.75. About 1213 shares advanced against 966 declining shares on the BSE. Orient Green Power Company shares rallied more than 9 percent intraday. A media report indicated that Infrastructure Leasing and Financial Services (IL&FS) is in advanced talks to merge its wind energy assets with Chennai-based listed Orient Green Power.
"The boards of IL&FS and Orient are expected to meet soon and discuss a merger proposal which, if cleared, will help the entity to acquire more wind energy assets. The plan is to consolidate and use stock and cash to acquire assets that will help scale up capacity to over 2,000 MW by financial year 2018," a media report said quoting unnamed sources. 10:20 am Railway capex: In its highest-ever capital expenditure, the Railway Ministry is planning a capital outlay of about Rs 1.3 lakh crore and expecting a gross budgetary support of Rs 55,000 crore (GBS) for the fiscal year 2017-18, according t a media report. During the current fiscal the Indian Railways spent only about 54 percent of its planned capital expenditure. The budgetary support this year was at Rs 45,000 crore. Despite this, it is seeking a higher support this year. The ministry is hopeful of the budgetary support on the back of a unified Union and Railway Budget. Recently, Railway minister Suresh Prabhu unveiled plans to undertake measures to trim costs significantly and reduce dependence on imported fuel. The plan, named Mission 41k, aims to electrify 24,000 kilometre of railway tracks over a five-year period.
Buy, sell, hold: 15 stocks that to watch out for your portfolio indices remained volatile in morning ahead of corporate earnings and Union Budget that scheduled to be announced on February 1. Globally investors awaited Friday's inauguration of Donald Trump as US president. The 30-share BSE Sensex was up 2.44 points at 27260.08 and the 50-share NSE Nifty fell 5.50 points to 8411.50 while the broader markets moderately higher on positive breadth. About 1078 shares advanced against 793 declining shares on the exchange. Ensuing fortnight will see meaningful Q3FY17 earnings which remain the key monitorable and likely impact of demonetisation and management commentary will be key to watch out for,
Dharmesh Kant of Motilal Oswal Securities says. While the individual stock performance is based on Q3 FY17 earnings, he believes overall markets are likely to remain range bound as market will closely watch the Union Budget. Axis Bank fell 1.6 percent ahead of quarterly earnings today. The country's third largest private sector lender's third quarter profit is expected to fall 63.1 percent year-on-year to Rs 801.6 crore and net interest income may grow 9.8 percent to Rs 4,568.5 crore, according to average of estimates of analysts polled HDFC, HDFC Bank, Asian Paints, ICICI Bank and ITC were under pressure while Tata Motors, Reliance Industries, Adani Ports, Infosys and HUL gained.
Read more for Indian Stock Tips-http://www.aceinvestmentadvisory.com
HDFC twins fall Benchmark indices remained volatile in morning ahead of corporate earnings and Union Budget that scheduled to be announced on Globally investors awaited Friday's inauguration of Donald Trump as US president. indices continued to consolidate. The Sensex was up 30.11 points at 27287.75 and the Nifty gained 3.75 points at 8420.75. About 1213 shares advanced against 966 declining shares on the BSE. Orient Green Power Company shares rallied more than 9 percent intraday. A media report indicated that Infrastructure Leasing and Financial Services (IL&FS) is in advanced talks to merge its wind energy assets with Chennai-based listed Orient Green Power.
"The boards of IL&FS and Orient are expected to meet soon and discuss a merger proposal which, if cleared, will help the entity to acquire more wind energy assets. The plan is to consolidate and use stock and cash to acquire assets that will help scale up capacity to over 2,000 MW by financial year 2018," a media report said quoting unnamed sources. 10:20 am Railway capex: In its highest-ever capital expenditure, the Railway Ministry is planning a capital outlay of about Rs 1.3 lakh crore and expecting a gross budgetary support of Rs 55,000 crore (GBS) for the fiscal year 2017-18, according t a media report. During the current fiscal the Indian Railways spent only about 54 percent of its planned capital expenditure. The budgetary support this year was at Rs 45,000 crore. Despite this, it is seeking a higher support this year. The ministry is hopeful of the budgetary support on the back of a unified Union and Railway Budget. Recently, Railway minister Suresh Prabhu unveiled plans to undertake measures to trim costs significantly and reduce dependence on imported fuel. The plan, named Mission 41k, aims to electrify 24,000 kilometre of railway tracks over a five-year period.
Buy, sell, hold: 15 stocks that to watch out for your portfolio indices remained volatile in morning ahead of corporate earnings and Union Budget that scheduled to be announced on February 1. Globally investors awaited Friday's inauguration of Donald Trump as US president. The 30-share BSE Sensex was up 2.44 points at 27260.08 and the 50-share NSE Nifty fell 5.50 points to 8411.50 while the broader markets moderately higher on positive breadth. About 1078 shares advanced against 793 declining shares on the exchange. Ensuing fortnight will see meaningful Q3FY17 earnings which remain the key monitorable and likely impact of demonetisation and management commentary will be key to watch out for,
Dharmesh Kant of Motilal Oswal Securities says. While the individual stock performance is based on Q3 FY17 earnings, he believes overall markets are likely to remain range bound as market will closely watch the Union Budget. Axis Bank fell 1.6 percent ahead of quarterly earnings today. The country's third largest private sector lender's third quarter profit is expected to fall 63.1 percent year-on-year to Rs 801.6 crore and net interest income may grow 9.8 percent to Rs 4,568.5 crore, according to average of estimates of analysts polled HDFC, HDFC Bank, Asian Paints, ICICI Bank and ITC were under pressure while Tata Motors, Reliance Industries, Adani Ports, Infosys and HUL gained.
Read more for Indian Stock Tips-http://www.aceinvestmentadvisory.com
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