Monday, 6 April 2015

Sensex, Nifty rangebound; Geometric up 4%, Sun TV bleeds

01:40pm Market Expert: Fourth quarter earnings is likely to fall short of market expectations, feels Sanjeev Prasad, Senior Executive Director & Co Head (Strategy), Kotak Institutional Equities.

In an interview with CNBC-TV18, Prasad sees risks to earning s estimates in the auto, metal, banking, energy and capital good sectors.

He expects aggregate March quarter net profits of Sensex companies to grow 6.3 percent year-on-year. 

Kotak Securities has already trimmed estimates for companies in the metals and mining sectors, says Prasad.
Prasad says a pick up in investment cycle is still 3-4 quarters away, and making matters difficult for investors is that quality stocks are extremely expensive at current prices.

01:25pm NTPC in Focus: State-run NTPC is looking at bringing its coal import bill to 'zero' in the next five years and will rely on the fossil fuel made available by Coal India and the company's own mines. The power major is one of the country's largest consumers of coal.

"Our aim is to have zero import of coal, and manage with the coal from Coal India sources or our own mines," NTPC CMD Arup Roy Choudhury told PTI.

When asked about the timeframe in which the PSU plans to have nil coal imports, Choudhury said, "You can say in the next five years."

NTPC ventured into coal mining as part of its backward integration process for fuel security. The company has been allotted 10 coal blocks including Chatti-Bariatu, Chatti-Bariatu (South) and Kerandari in Jharkhand, Dulanga in Odisha and Talaipalli in Chhattisgarh.

Its another block -- Pakri-Barwadih -- in Jharkhand is likely to commence coal production by the end of this calender year and the remaining mines subsequently.

01:00pm Market Check

The market remained rangebound in afternoon trade with the Nifty hovering around 8600 level. Healthcare and FMCG stocks gained strength while banking & financials stocks continued to see selling pressure.

The Sensex climbed 72.67 points to 28332.81 and the Nifty rose 20.65 points to 8606.90. About 1553 shares have advanced, 933 shares declined, and 169 shares are unchanged on the BSE.

Geometric shares rallied 4 percent as sources told CNBC-TV18 that private equity player General Atlantic is looking to pick up the Godrej Group’s 38.4 percent controlling interest in the IT company.

Sun TV lost over 9 10 percent amid heavy volumes after the Enforcement Directorate issued an order to attach properties and assets worth Rs 742 crore belonging to Kalanithi and Dayanidhi Maran. For more information please visit this site

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