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    Sensex rangebound, Nifty directionless; top fifteen stocks in focus

    Synopsis

    The fall on the 30-stock benchmark index is being led by losses in heavyweights TCS, Tata Motors, HDFC and Reliance Industries.

    ET Online
    NEW DELHI: The S&P BSE Sensex was trading with a loss of over 100 points. The fall in the index was led by losses in TCS, Tata Motors, HDFC and Reliance Industries.

    Tracking the momentum, the 50-share Nifty index was also trading in a range but below its crucial psychological level of 7800, weighed down by losses in realty, oil & gas, IT and auto stocks.

    At 11 am, the Sensex was at 26,022.32; down 104.43 points.

    Nifty was at 7,761.10; down 29 points.

    Market Highlights @ 11 AM

    - Bharti Airtel: Co's total subscriber base crosses 30 crore mark

    - Earnings: Central Bank of India expects margins to improve to 3% by year end

    - Earnings: Central Bank of India has seen de-growth in corp loans, around 8%

    - Earnings: Central Bank of India looking to sell stake in IL&FS this year to meet cap requirement

    - Earnings: Central Bank of India expects to get Rs 581 crore from LIC which will bring down govt stake

    - Earnings: Central Bank of India needs a total Rs 2,000 crore capital this year

    - Earnings: Central Bank of India expects recoveries to improve substantially in next 2 recoveries

    - Earnings: Central Bank of India says it sold Rs 700 crore of bad loans to ARCs

    - Earnings: Believe fresh slippages will reduce going forward, says Central Bank of India

    - Earnings: Central Bank of India expects gross NPAs around 5.61% by year end

    - Earnings: Central Bank of India posts a profit of Rs 192 cr in Q1 FY15; says efforts to clean the balance sheet have started paying off

    - Earnings: Open to merging with any bank, will follow Govt directive, says United Bank of India

    - Earnings: Ground work for a merger with any bank has to be planned out: United Bank of India

    - Earnings: United Bank of India will need cultural & technology synergies if merger is proposed

    - Earnings: United Bank of India: Surprised to hear about merger talk with IDBI Bank

    - Not heard about merging with IDBI Bank from Finance Mininstry, says United Bank of India

    - Adani among MOST indebted groups, plans to raise Rs 10,000 crore via share sale



    - CNX Auto up for second day; index up: 0.88%.

    - Motherson,Amtek Auto,Exide,Tata Motors top gainers on CNX Auto index.

    - Earnings: Manappuram Finance's Q1 PAT Rs 44crore vs Rs 52.9 crore, down 17%YoY

    - Q1 NII Rs 245 crore vs Rs 308.8 crore, down 21%YoY

    - Q1 Gross NPAs at 1.56%, up due to seasonal factors

    - Earnings: Manappuram Finance says need clarity on whether NBFCs can convert to small banks

    - Manappuram Finance: Expect asset quality stress to reduce going forward | Expect gold prices to remain around current levels

    - CNX Pharma rallies for 9th day; index up 0.39%.

    - CNX PSU Bank at day's high; all 12 banks gain; index up 1.02%.


    Here is a list of fifteen stocks which are in focus today:

    Reliance Power & JP Power Ltd: Anil Ambani-controlled Reliance Power plans to acquire the entire hydroelectricity portfolio of the Jaiprakash Group for about RS 12,000 crore and has signed an initial agreement for India's biggest deal in the infrastructure sector other than telecom.

    At 10:00 a.m.; Reliance Power was trading 2.04 per cent higher at Rs 92.70 and JP Power Ventures was trading 5 per cent higher at Rs 19.80.

    Repco Home Finance Ltd: The Reserve Bank of India (RBI) on Friday said foreign investors cannot purchase shares of Repco Home Finance and South Indian Bank as their shareholding in these companies has crossed the threshold limit.

    At 10:00 a.m.; the stock was trading 0.6 per cent higher at Rs 440.

    GMR Infrastructure Ltd: GMR Infrastructure's airport business that made a profit last financial year after three years of losses is now set upon a financially stable path which entails an imminent IPO, cash compensation from an earlier project, a stringent filter on future projects and limited capital outflows, its group finance chief said recently.

    At 10:00 a.m.; the stock was trading 0.4 per cent higher at Rs 25.35.

    Wipro Ltd: Wipro is setting up a corporate venture arm to be spearheaded by Rishad Premji that will initially invest up to $100 million (Rs 600 crore) in startups to help the country's third-largest software exporter fill the missing innovation strand.

    At 10:00 a.m.; the stock was trading 0.2 per cent higher at Rs 551.60.

    Bank of Baroda: The public sector bank is expected to report 1.9 per cent YoY growth in net profit for the quarter ended June 30 to Rs 1190 crore as compared to Rs 1168 crore reported in the year-ago period.

    At 10:00 a.m.; the stock was trading 1.2 per cent higher at Rs 872.

    Larsen & Toubro Ltd: The infrastructure major is expected to report 17 per cent YoY growth in net profit to Rs 775 crore for the quarter ended June 30, as compared to Rs 664 crore reported in the year-ago period.

    At 10:00 a.m.; the stock was trading 0.5 per cent higher at Rs 1664.

    Adani Group companies: Gautam Adani is making big plans to mop up a total of Rs 10,000 crore through a qualified institutional placement (QIP) of shares of Adani Enterprises, Adani Power and Adani Ports & Special Economic Zone to fuel the group's growth.

    At 10:00 a.m.; Adani Enterprises was trading 2 per cent higher at Rs 433.95.

    Havells India Ltd: The company is expected to report 21 per cent YoY growth in net profit to Rs 115 crore for the quarter ended June 30 as compared to Rs 95 crore reported in the year-ago period.

    At 10:00 a.m.; the stock was trading 1.2 per cent lower at Rs 1221.

    Central Bank of India: Net profit rose to Rs 191 crore against Rs 21 crore in corresponding quarter and the bank announced that Life Insurance Corporation will double its stake in the bank to 10 per cent by infusing Rs 581 crore.

    At 10:00 a.m.; the stock was trading 8 per cent higher at Rs 72.30.

    Indian Overseas Bank: Public sector Indian Overseas Bank has reported over two-fold jump in net profit for the first quarter ended June 30, 2014 at Rs 271.72 crore.

    At 10:00 a.m.; the stock was trading 2.8 per cent higher at Rs 72.

    Thomas Cook & Sterling Holidays: The Rs 870-crore merger deal of travel firm Thomas Cook (India) with resort owner Sterling Holiday Resorts India has got clearance from BSE and NSE.

    At 10:00 a.m.; Thomas Cook was 3.8 per cent higher at Rs 118.75.

    ICICI Bank Ltd: ICICI Bank is set to become the first bank to raise money through infrastructure bonds to fund affordable housing under a recently announced programme, as the nation's largest non-state lender readies an issue of as much as Rs 1,000 crore.

    At 10:00 a.m.; the stock was trading 0.3 per cent lower at Rs 1470.

    NTPC: The USD 1.2-billion Indo-Bangla power joint venture is planning to award the contract for construction of the plant by April 2015 and expected to start commercial generation by FY18.

    At 10:00 a.m.; the stock was trading 0.2 per cent lower at Rs 148.60.

    SKS Microfinance Ltd: With some respite in its borrowing cost in the first quarter due to the profit it had made last year and on higher capital base, SKS Microfinance has announced 1 percentage point reduction in lending rates.

    At 10:00 a.m.; the stock was trading 0.6 per cent lower at Rs 285.25.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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