Key benchmark indices extended gains and strike uninformed intraday high in mid-afternoon trade. The barometer index, a SP BSE Sensex, and a 50-unit CNX Nifty, both strike their top turn in some-more than 4-1/2 weeks. The Sensex was adult 115.72 points or 0.55%, adult 108.17 points from a day’s low and off 8.33 points from a day’s high. The marketplace breadth, indicating a altogether health of a market, incited disastrous from certain in mid-afternoon trade. The marketplace perspective was increasing by information display that unfamiliar supports remained net buyers of Indian bonds on Tuesday, 25 Feb 2014.
Index heavyweight and cigarette vital ITC extended intraday gains. Select FMCG bonds declined. PSU OMCs were in direct on renewed buying. Polaris Financial Technology galloped to 52-week high on high volume. Paper Products surged after a company’s Indian upholder sole his whole 3.01% interest in a organisation to his unfamiliar partner Huhtavefa BV during a estimable reward to statute marketplace price. Clariant Chemicals (India) tumbled after a association reported retreat turnaround in Q4 during trade hours today, 26 Feb 2014.
Among a side counters, Ajanta Pharma scaled record high. Amtek Auto and Bharat Forge strike 52-week high.
Key benchmark indices edged aloft amid initial volatility. The Sensex shortly extended initial gains. The Sensex pared gains in morning trade. Key benchmark indices hovered in certain territory in early afternoon trade. Key benchmark indices extended gains and strike uninformed intraday high in afternoon trade. The Sensex and a 50-unit CNX Nifty, both, strike their top turn in some-more than 4-1/2 weeks. Key benchmark indices extended gains and strike uninformed intraday high in mid-afternoon trade. The barometer index, a SP BSE Sensex, and a 50-unit CNX Nifty, both strike their top turn in some-more than 4-1/2 weeks.
The marketplace perspective was increasing by information display that unfamiliar supports remained net buyers of Indian bonds on Tuesday, 25 Feb 2014. Foreign institutional investors (FIIs) bought shares value a net Rs 423.41 crore on Tuesday, 25 Feb 2014, as per provisional information from a batch exchanges.
The marketplace might sojourn flighty during a remaining partial of a trade event as traders hurl over positions in a futures and options (FO) shred from a near-month Feb 2014 array to Mar 2014 series. The nearby month Feb 2014 FO contracts finish today, 26 Feb 2014. The batch marketplace stays sealed tomorrow, 27 Feb 2014, on comment of Mahashivratri.
At 14:15 IST, a SP BSE Sensex was adult 115.72 points or 0.55% to 20,968.19. The index jumped 124.05 points during a day’s high of 20,976.52 in mid-afternoon trade, a top turn given 24 Jan 2014. The index rose 7.55 points during a day’s low of 20,860.02 in early trade.
The CNX Nifty was adult 30.25 points or 0.49% to 6,230.30. The index strike a high of 6,231.45 in intraday trade, a top turn given 24 Jan 2014. The index strike a low of 6,202.10 in intraday trade.
The BSE Mid-Cap index was adult 5.08 points or 0.08% during 6,467.40 and a BSE Small-Cap index was adult 18.78 points or 0.29% during 6,440.48. Both these indices underperformed a Sensex.
The marketplace breadth, indicating a altogether health of a market, incited disastrous from certain in mid-afternoon trade. On BSE, 1,309 shares declined and 1,278 shares gained. A sum of 148 shares were unchanged.
Among a 30-share Sensex pack, 22 bonds gained and rest of them declined. GAIL (India) (up 2.48%), Wipro (up 2.39%) and Dr. Reddy’s Laboratories (up 2.09%) edged aloft from a Sensex pack.
Index heavyweight and cigarette vital ITC rose 1.71% to Rs 327.40, with a batch fluctuating intraday gain. The batch strike high of Rs 327.60 and low of Rs 322.40 so distant during a day.
Select FMCG bonds declined. Godrej Consumer Products (down 1.88%), Marico (down 1.65%) and Tata Global Beverages (down 1.17%) declined.
PSU OMCs were in direct on renewed buying. BPCL (up 2.19%), HPCL (up 2.54%) and Indian Oil Corporation (up 1.33%) gained.
Polaris Financial Technology galloped 12.81% to Rs 163 after distinguished a 52-week high of Rs 164.90 in intraday trade. On BSE, so distant 35.16 lakh shares were traded in a conflicting as conflicting normal daily volume of 1.26 lakh shares in a past one quarter.
Polaris Financial Technology expelled construction during marketplace hours today, 26 Feb 2014 per media reports “US shaped Fiserv in talks to acquire interest in Polaris”, that a association is not for sale. It serve pronounced that during a 3rd Quarter formula in Jan 2013, a house of directors certified a supervision organisation to try options that would produce an procedure to a association for a subsequent theatre of a growth. The context was around leveraging untapped intensity in a enlargement engines i.e. Services, Products and a board of opportunities that are accessible to it as a heading Specialist in a tellurian Financial Technology arena. In line with a difficult Governance beliefs a association follows, stakeholders have been updated on progress. As announced, a vital legs of a restructuring routine have been finished final entertain in Q3 2014, Polaris said. With a unaccompanied concentration on Banking Financial Technology for over 2 decades, Polaris has built really strong and extensive resources to spearhead transformational projects for a BFSI vertical. The restructuring practice has been misconstrued by a certain territory of stakeholders with steady discuss of probable sale. Despite a association clarifications, these rumours continue to surface, impacting patron relationships, distracting Management and employees, Polaris said. The association pronounced that it is staid to precedence a abounding resources in banking and record to accelerate enlargement of a dual graphic businesses – Products (Intellect) business and IT Services business.
Paper Products surged 9.23% to Rs 91.15 after a company’s Indian upholder sole his whole 3.01% interest in a organisation to his unfamiliar partner Huhtavefa BV for Rs 190.11 per share on Friday, 21 Feb 2014.
On 21 Feb 2014, Paper Products’ Indian promoter, Suresh Gupta, sole 18.84 lakh equity shares, or 3.01% equity, of Paper Products in an off-market transaction to Huhtavefa BV by a negotiated private chain during an sum volume of Rs 35.81 crore.
The transaction cost works out to Rs 190.11 per share, a pointy reward of 146.74% compared to a stock’s shutting cost of Rs 77.05 on Friday, 21 Feb 2014.
Post transaction, Huhtavefa BV’s interest in Paper Products has increasing 63.78%, from 60.77% earlier.
Shares of Paper Products fell 1.28% to Rs 77.05 on Friday, 21 Feb 2014. However, a batch surged 10.97% to Rs 85.50 on Monday, 24 Feb 2014. It fell 2.40% to Rs 83.45 on Tuesday, 25 Feb 2014.
Clariant Chemicals (India) tumbled 5.02% after a association reported a net detriment of Rs 6.10 crore in Q4 Dec 2013 as conflicting net distinction of Rs 22.05 crore in Q4 Dec 2012. The Q4 outcome was announced during trade hours today, 26 Feb 2014.
Clariant Chemicals (India)’s sum income from operations declined 3.37% to Rs 280.60 crore in Q4 Dec 2013 over Q4 Dec 2012.
Clariant Chemicals (India)’s net distinction surged 64.62% to Rs 166.77 crore on 13.82% enlargement in sum income from operations to Rs 1247.86 crore in a year finished 31 Dec 2013 (FY 2013) over a year finished 31 Dec 2012 (FY 2012).
Clariant Chemicals (India)’s sales turnover rose 13.25% to Rs 1213.20 crore in FY 2013 over FY 2012. Considering a sale of Textile, Paper and Emulsions (TPE) business, effective from 1 Oct 2013, a net sales has left adult by 25.3% over a prior year, on a like-to-like basis, a association pronounced in a statement.
Speaking on a company’s financial performance, Dr. Deepak Parikh, Vice Chairman and Managing Director, Clariant Chemicals (India) said, “Clariant’s new business developments are a illustration of a accelerated enlargement skeleton in a market. India is a pivotal concentration segment and we devise to deposit in a business to try new opportunities and urge Clariant in India’s profitability to produce value to all a stakeholders. We have done extensive swell during 2013 with a same set of rarely dedicated and encouraged colleagues, equipments and technology; and this unfolds a operational strength that continues to support us to attain inspite a serious mercantile environment. Our joining stays indifferent on providing innovative and patron focussed solutions conflicting a businesses, for a win-win conditions to all”.
Ajanta Pharma gained 2.73% to Rs 1,013.90 after attack a record high of Rs 1,025 in intraday trade.
Amtek Auto jumped 6.78% to Rs 96.90 after attack a 52-week high of Rs 97.30 in intraday trade.
Bharat Forge rose 2.12% to Rs 373 after attack a 52-week high of Rs 376.30 in intraday trade.
In a unfamiliar sell market, a rupee edged revoke conflicting a dollar with month-end dollar direct from importers including oil firms weighing on domestic currency. The partially automobile rupee was hovering during 61.95, compared with a tighten of 61.935/945 on Tuesday, 25 Feb 2014.
Government bond prices fell on worries that food acceleration might sojourn high after Farm Minister Sharad Pawar pronounced a continue bureau will give a opinion on a expected impact of El Nino on India’s monsoon in mid-April. The produce on 10-year benchmark sovereign paper, 8.83% GS 2023, was hovering during 8.901% aloft than a tighten of 8.8745% on Tuesday, 25 Feb 2014. Bond produce and bond prices pierce in conflicting direction. Pawar also pronounced that a impact of a El Nino continue settlement is doubtful to be as serious this year as in 2009. Indian farmers count heavily on a annual June-September monsoon rains, as 55% of farmland does not have irrigation facilities. Australia’s Bureau of Meteorology and a US Climate Prediction Center have warned of increasing chances of a lapse of a El Nino continue settlement that can trigger drought, attack prolongation of pivotal dishes such as rice, wheat and sugar.
The supervision will betray information on sum domestic product (GDP) for Q3 Dec 2013 after trade hours on Friday, 28 Feb 2014. The GDP grew during softened gait of 4.8% in Q2 Sep 2013, from 4.4% enlargement available in Q1 Jun 2013.
Reserve Bank of India subsequent undertakes financial process examination on 1 Apr 2014. Citing cost pressures, a Reserve Bank of India lifted a pivotal lending rates by 25 basement points after Third Quarter Review of Monetary Policy for 2013-14 on 28 Jan 2014.
On a domestic front, eleven informal parties shaped an fondness on Tuesday, 25 Feb 2014, to competition ubiquitous elections, presenting themselves as an choice to a statute Congress celebration and a antithesis Bharatiya Janata Party. Prakash Karat, a personality of a Communist Party of India (Marxist), that is partial of a new coalition, pronounced a partnership was fake in an bid to keep a country’s dual vital inhabitant parties out of power. Mr. Karat indicted a obligatory Congress of crime and misrule, and announced a BJP non-professional to run a nation given of a argumentative primary ministerial claimant Narendra Modi, who Mr. Karat denounced as a “challenge to a really physical edifice” of India. “We need an alternative,” Mr. Karat said.
Among members of a new confederation are a Communist Party of India (Marxist), a Communist Party of India, Janata Dal (United), Samajwadi Party, Biju Janata Dal and a All India Anna Dravida Munnetra Kazhagam. The fondness includes informal chieftains from a politically essential states of Bihar, Uttar Pradesh, Tamil Nadu and Orissa. The dual important exceptions are Mamata Banerjee, a absolute arch apportion of West Bengal, and Kumari Mayawati, a resurgent revoke standing personality in Uttar Pradesh.
European bonds were mostly revoke on Wednesday, with instruction lacking in a arise of choppy sessions for Asia and Europe. Key benchmark indices in UK and France were down 0.07% to 0.24%. In Germany, a DAX rose 0.02%.
German consumer certainty increasing to a seven-year high, suggesting a German economy is gaining broad-based strength after information expelled Tuesday showed it grew in a fourth entertain on a behind of exports.
The GfK consumer meridian indicator for Mar rose to 8.5 points, a Nuremberg-based organisation pronounced Wednesday. It was a top turn for a indicator given Jan 2007. The index uses information from a stream month to plan a perspective indicator for a entrance month. The figure is above February’s upwardly revised reading of 8.3.
“Consumers are still assured that a German economy has overcome a diseased proviso in a prior year and is entering a plain upswing,” wrote GfK.
Data expelled Tuesday showed that Germany’s economy grew by 0.4% in quarterly terms during a finish of a year, violence an enlargement rate of 0.3% in a third quarter. Foreign trade was a categorical motorist of growth.
Asian bonds edged aloft on Wednesday, 26 Feb 2014, as appetite shares advanced, tackling declines by raw-material companies. Key benchmark indices in China, Hong Kong, South Korea and Taiwan were adult 0.29% to 0.54%. Key benchmark indices in Singapore, Japan and Indonesia were off 0.54% to 1.14%.
China’s executive bank a People’s Bank of China cut a yuan’s regulating by 0.01% to 6.1192 per dollar, a weakest given Dec. 20 amid conjecture it is looking to conflicting one-way appreciation bets on a currency.
The People’s Bank of China on Tuesday, 25 Feb 2014, emptied another 100 billion yuan ($16.4 billion) from income markets.
A assembly of China’s lawmakers to set mercantile process and enlargement targets starts subsequent week in Beijing.
Trading in US index futures indicated that a Dow could allege 29 points during a opening bell on Wednesday, 26 Feb 2014. US bonds finished a choppy trade event revoke on Tuesday, 25 Feb 2014, as murky reports on home prices and consumer certainty dampened a mood. The gait of US home-price enlargement slowed down during a finish of 2013, yet notwithstanding this a year saw a fastest calendar-year cost enlargement in 8 years, according to information expelled on Tuesday. The US consumer certainty index also dipped essentially given Americans are reduction certain about a economy in a subsequent 6 months, even yet they perspective a stream sourroundings as most improved, a Conference Board pronounced on Tuesday.
About $1.7 billion was taken out of US equity exchange-traded supports on 24 Feb 2014, bringing sum withdrawals to roughly $6 billion this month, according to reports.
Federal Reserve Chair Janet Yellen will attest for a US Senate on financial process tomorrow, 27 Feb 2014.
The US Federal Reserve bought $2.66 billion of Treasuries due from Feb 2023 to Nov 2023 on Tuesday, 25 Feb 2014, underneath a quantitative-easing impulse plan to reason down borrowing costs and fuel mercantile growth.
The Federal Open Market Committee (FOMC) subsequent undertakes financial process examination on 18-19 Mar 2014. After a financial process review, a FOMC on 29 Jan 2014 announced it will revoke monthly bond purchases by another $10 billion to $65 billion.
Powered by Capital Market – Live News
Article source: http://www.business-standard.com/article/news-cm/polaris-financial-technology-gallops-to-52-week-high-on-high-volume-114022600581_1.html