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Equity Research Report: Religare Morning Digest

Market Outlook for the day – Tuesday will be an eventful session as Infosys will be declaring its Q4 numbers and CPI and WPI numbers will also be declared.
15 Apr 2014 | 07:00 AM

Highlights for Today

Market Outlook for the day Tuesday will be an eventful session as Infosys will be declaring its Q4 numbers and CPI and WPI numbers will also be declared.

 

Corporate News:

Maruti Suzuki India announced that it will proactively replace ‘fuel filler neck' of 103,311 vehicles (42,481 units of DZire, 47,237 units of Swift and 13,593 units of Ertiga) manufactured between 12 November 2013 and 4 February 2014.

GMR Infrastructure announced completion of Chennai Outer Ring Road Phase 1 project in Tamil Nadu, this will add Rs 118 crore every year to the cash flow of the company. GMR has won the 29.65 km project through international competitive bidding.

Industry News

According to SIAM; the automobile industry ended the fiscal with a net decline as the overall commercial vehicles segment saw de-growth of 20.23% in 2014 fiscal compared to 2013. But the overall domestic sales of automobiles during April-March FY'14 grew marginally by 3.53% over the same period last year because of growth in scooters and motorcycle sales.

Events on 15th April 2014:  Infosys results, WPI, CPI.

 

Market Roundup 

Key benchmark indices edged lower in choppy trade on the last trading session of the week after the latest data showed that India's merchandise exports fell for the second month in a row in March 2014. Auto and Capital goods stocks edged lower. The Sensex languished in negative terrain in morning trade. Weakness continued on the bourses and market extended losses and hit fresh intraday low in early afternoon trade. Volatility ruled the roost as key benchmark indices weakened once again after trimming intraday losses in late trade.

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