Metal Players of the India Stock Market!

Steel Authority of India (SAIL) is an India-based steel making company that has five integrated steel plants and three alloy steel plants. Despite a 12 per cent increase in the quarterly profit, Steel India NSE has missed expectations with lower sales.

Steel Authority of India has reported a drop in the net sales to 106.63 billion rupees as compared to a year earlier. The low operating margins have been attributed to increase in the fuel costs, increase in other expenses, and higher wage expenses. In contrast to the estimated net profit of 7.3 billion rupees for the quarter ending September, SAIL has said that the net profit rose to 5.43 billion rupees.

Another player in the metals market is Sterlite Industries India Ltd, which is a non-ferrous and mining company that operates in three segments; Phosphoric acid, copper, and other business segment. India’s Sterlite NSE plans to raise 5 billion rupees by a bond issued at 9.40 percent. The Indian metal producer will issue 10-year bonds, available at Axis Bank, with an option to end after a period of 5 years.

ICICI Bank and IDFC on NSE performance statistics

Markets are favorable today for bank and realty stocks in the morning trade (22 November); thanks to reform hopes. The positive domestic opening of the indices of the Indian bourses is also triggered by improved Asian cues. With the winter session of the Parliament to begin today, investors are waiting for some optimistic news that would boost economic growth. Not all banking companies are in the uptrend. ICICI Bank on NSE saw its shares falling while IDFC on NSE was in an upbeat momentum. 

At 10:43 am, price of ICICI Bank NSE stocks was Rs. 1044, which was down 0.45 or .04 percent. Volume of shares traded was 453,209. While the previous close was at Rs. 1044.45, it opened at Rs. 1045.50. Difference noticed between bid and offer price of ICICI Bank NSE stocks was by .05 paise at Rs. 1043.95 for 10 and Rs. 1044 for 149 respectively.

IDFC NSE stock was priced at Rs. 102.25, which was up Re. 1.00 or +0.99 percent. Volume of shares traded was 545,007. The previous close saw its price closing at Rs. 101.25; it opened at Rs. 101.05. The difference noticed between bid and offer price of the stocks was by 0.05 paise.

Cairn India and Cipla on NSE

As the day advances, stock market results change too either in the positive or negative. The early morning trade saw both the sensex and nifty exhibiting a lackluster trend and by pre-noon caught the uptrend momentum. At 11.37 a.m., the sensex was up 86.67 points at 18,415.99 while the nifty was up 23.50 points at 5595.05. Cause of the uptrend is a blend of firming Asian markets and gains in stocks of IT, oil and gas, and metal sectors.

Though oil stocks gained on an average, Cairn India NSE could not catch the momentum. The company’s shares went down by 1.07 per cent at 11.41 am, i.e down Rs. 3.55 to be perched at Rs. 328.10. The previous close price of Cairn India NSE stocks was Rs. 331.65 and it opened at Rs. 332. A difference of 0.10 paise was noticed in the bid and offer price at Rs. 328.00 for 100 and 328.10 for 18 respectively.

The pharmaceutical sector showed mixed results with Cipla on NSE perched at Rs. 386.50 at 12:10 pm, up Rs. 6.65 or +1.75 percent. Volume of shares traded was 1,159,957. While the previous close was Rs. 379.85, it opened at Rs. 380. The difference between bid and offer price of Cipla NSE shares was 0.15 paise.

TCS and Tata Motors on NSE

Can you expect the stock market to be bullish everyday? Such a situation would never occur. Bearish and bullish trends are but humdrum affairs in any stock market. As of November 20 market statistics, the nifty moved up marginally by 0.15 points while the sensex ended losing 10 points. But amid the volatility, Tata Consultancy Services on NSE and Tata Motors on NSE exhibited a bullish trend with buyers driving the price of these shares higher.

Volume of shares of Tata Consultancy Services NSE traded was 628,020. At 17:00 hours, the price was at Rs. 1272.80. It rose by Rs 10.45 or +0.83 percent. Previously the price closed at Rs. 1262.35 and it opened at Rs. 1275. The bid price was Rs. 1272.80 for 11794 shares. The day’s low and high prices were Rs. 1256.05 and Rs. 1282.90 respectively. According to the 52 week price change dynamics, the lowest witnessed was Rs. 1041 and the highest Rs. 1439.80.

Price of share of Tata Motors NSE was Rs. 266.10, up Rs. 2 or +0.76 percent. Volume of shares traded was 6,864,096. While the previous close was Rs. 264.10, it opened at Rs. 268.05. The day’s low and high price tags were Rs. 261.70 and 270.35 respectively.

Bharti Airtel soaring high on the spectrum!

The stock price of Bharti Airtel rose almost 2.3% as brokerage firms recommend buy for India's number one telecom service provider. Bharti airtel stocks have gained in the choppy market where other stocks have majorly lackluster.
Bharti shares have so far in the month of November gained 15% and last week proved to it's best inning since september as it's shares surged 9.3% after the 2G Spectrum auction failed to get buyers at the anticipated costs. As on Monday 19th November, the stock has hit a low of INR302.5 and an intraday high of INR311.1

Bharti Airtel definitely seems to be wooing traders after agencies like Credit Suisse and Goldman Sachs upgraded Bharti Airtel from 'underperform' to 'outperform' and from 'neutral' to 'buy' respectively. Both brokerage agencies opine that regulatory risk is reduced in case of Bharti Airtel and the potential of tariff hike is high with reduced competition on the domestic front as telecom operators are focusing on reducing losses.

Wipro’s Q2 Profit Rose to 24% Beating the Estimates

The profit for Wipro, ranked as India’s no. 3 software service provider, rose to 24 per cent at 16.11 billion rupees, which has exceeded the estimates by analysts. In view of the trend, the forecast for the company’s revenue would rise to 1.3-3.2 per cent for quarter ending December.

Wipro has added 53 new clients for the IT services during the second quarter of fiscal year. A year earlier, the Q2 revenue of the software tycoon rose to 17 per cent at 106.57 billion rupees.

Wipro Ltd has stated that all its non-IT services will be folded to a new firm focusing on outsourcing. This will include the company’s medical diagnostics and consumer care services as well. The step is taken in an effort to promote growth in view of competition from local and global rivals. In order to speed up the growth amongst peers, Wipro’s chairman Azim Premji also replaced company’s two co-CEOs.