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Equity Research Report: Religare Morning Digest

Markets may continue to trade volatile on Wednesday due to rollover and unwinding of positions ahead of July F&O expiry. Keep extra caution in cash segment positions.
30 Jul 2014 | 07:00 AM

Market Outlook for the day Markets may continue to trade volatile on Wednesday due to rollover and unwinding of positions ahead of July F&O expiry. Keep extra caution in cash segment positions.


Corporate News: 


L&T reported a more than two-fold increase in consolidated net profit at Rs 967 crore for the quarter ended June 2014. It was Rs 459 crore in the same period a year ago. The total income  increased 10% to Rs 19,252 crore as against Rs 17,505 crore in June 2013.

Hindustan Unilever Ltd's net profit grew marginally by 4 per cent at Rs. 1,057 crore in the quarter ended June 30, 2014. During the quarter, the domestic consumer business grew at 13 per cent ahead of market, with 6 per cent underlying volume growth. All segments registered double digit growth.

Dabur Ltd reported 13.33% increase in consolidated net profit at Rs 210.81 crore for the first quarter ended June 30, 2014-15, on account of strong performance in the FMCG segment.

Bank of Baroda reported Q1 net profit of Rs 1,362 crore as compared to Rs 1,168 crore in the year-ago quarter, an uptick of 16.5%. The bank's gross NPAs rose to 3.11% compared to 2.94% sequentially. Net NPAs were also up from 1.52% to 1.58% q-o-q.


Economy News

A Committee of Secretaries has approved a rejig of natural gas allocation policy, giving city gas distribution firms like Indraprastha Gas Ltd top priority for allocation of domestically produced fuel. The issue will now go to the Cabinet Committee on Economic Affairs (CCEA) for final approval.

Results on July 30,2014: CESC, Mphasis, IRB Infra, Dr. reddys Lab, Pidilite, Lupin.


Market Roundup 

After an almost flattish opening, the key benchmark indices edged lower and ended on a negative note for a second consecutive day. On the sectoral front, Realty, Metal, Oil & Gas and Auto remain the key laggards. On the flip side FMCG, IT and Healthcare managed to close well in green. A bout of volatility was witnessed ahead of derivative expiry on July 31. The BSE Mid-Cap index lost 38.99 points or 0.42%, marginally better than Sensex whereas BSE Small-Cap Index was off 70.53 points or 0.7% underperformed the Sensex.

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