Market Outlook for the day – We are maintaining cautious view on Nifty till 7750 spot level is not decisively crossed on the higher side.
Britannia Industries Ltd is planning a capital expenditure of between Rs 150 crore and Rs 200 crore over the next two years and aims to be the number one player in the biscuits segment over the next three years.
PTC India Ltd, has posted 47.4% growth in net profit to Rs 43.74 crore for the first quarter of 2014-15 fiscal on the back high growth in the volume of power traded, both for long-term and short-term trades. The company's total revenue increased 33 per cent to Rs. 3,689.54 crore from Rs. 2,770.46 crore in the same quarter last year.
Indian Oil Corporation (IOC), reported a net profit of Rs. 2,523 crore in the June quarter. It had reported a net loss of Rs. 3,093.23 crore in April-June of last year on delays in payment of Government subsidy.
Results on August 13,2014: Gammon India, GMR Infra, GVK Power, Jyothy Lab, ONGC
Key benchmark indices surged in the late hour trade led by auto, oil & gas, power and banking stocks amid firm global cues. Market surged as macroeconomic worries eased on falling crude oil prices. Barring TECK, all other BSE sectoral indices ended in the green. Among them, auto index gained the most by 1.79 per cent, followed by oil & gas 1.67 per cent, banking 1.41 per cent and consumer durables 1.4 per cent. Only TECk was down 0.05 per cent. The market breadth indicating the overall health of the market turned positive from negative in late trade.