Auto Index Nears 52-Week High; Tata Motors, M&M Shine

Sharemasterindia.com: The CNX auto index gained over one per cent, close to its year high of 8,175.7 on Wednesday supported by buying in heavy weights like Tata Motors, Hero MotoCorp and Mahindra and Mahindra.
Tata Motors gained nearly 3 per cent to a day high of rupee“>Rs. 524.75 as recent fall in diesel prices and an improved economic outlook will support the company in achieving higher sales of commercial vehicles and passenger vehicles. Other commercial and passenger vehicle manufacturer Mahindra & Mahindra was also up over 2 per cent at Rs. 1,305.
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Eveready Gains on Rival Duracell’s Planned Sale by P&G

Sharemasterindia.com: Battery maker Eveready Industries India jumped 4.4 per cent, its highest since April 2006.
Rival Duracell’s sale by Procter & Gamble Co will lead to higher relative valuations and aid market share, said traders.Read More...

Dr Reddy’s Q2 Net Falls 17%, Stock Down 2%

Sharemasterindia.com: Dr Reddy’s Laboratories, India’s second-largest drugmaker by revenue, reported a 17 per cent drop in its second-quarter profit, pushing its shares down over two per cent.
The company, whose formulations include drugs for cardiovascular disorders, oncology and pain management, posted a net profit of rupee“>Rs. 574 crore compared with Rs. 690 crore a year earlier.
As of 12.48 p.m. Dr Reddy’s shares traded 1.9 per cent lower at Rs. 3,023 underperforming the Nifty which was up 0.4 per cent.Read More....

Punjab National Bank Falls; CMD Demits Office

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Shares of Punjab National Bank fell 1.5 per cent after chairman and managing director KR Kamath completed his term yesterday. Mr Kamath’s exit was a surprise for some investors who were expecting an extension for him, traders said

India Ranked 142 in Latest ‘Ease of Doing Business’ Report: World Bank

Washington(Sharemasterindia.com): India has been placed at 142 among 189 countries in the latest World Bank’s “Ease of Doing Business” report released today, a drop by two places from the last year’s ranking.
The drop in India’s ranking from last year’s 140 is mainly because other nations have performed much better, bank officials said.
In the 2014 report, India had 52.78 points and in this year’s report it has 53.97 points.
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CCL Products Hits All-time High After Earnings

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Instant coffee processor CCL Products India rose as much as 11 per cent on Wednesday and marked an all-time high of Rs140.30.
The company’s consolidated net profit in September-quarter rose 29 per cent to rupee“>Rs. 26.14 crore ($4.27 million).Read More....

Rupee Edges Higher to 61.25/Dollar Ahead of Fed Meet Outcome

Sharemasterindia.com: The rupee traded marginally higher at 61.25 versus previous close of 61.32.
All eyes are on Fed meet outcome due after market hours. Most Asian currencies were trading stronger against the dollar.
Nifty was up 0.45 per cent and the dollar index traded flat

Just Dial Rebounds 7% After Falling 21% Post Q2 Earnings

Sharemasterindia.com: Just Dial shares gained over seven per cent to a day high of rupee“>Rs. 1,457 on value buying after falling nearly 21 per cent, post announcement of its earnings which disappointed investors.
Net profit of the company grew 10 per cent year-on-year to Rs. 31.49 crore in September quarter compared to Rs. 28.66 crore in the corresponding quarter of last fiscal. But what disappointed the street the most was the 240 basis points decrease in its operating margin to 28.9 per cent for the quarter ended September 2014. The company said increase in staff cost has resulted in the drop in operating margin.
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Hero MotoCorp Gains on RBI’s FII Investment Approval

Shares in Hero MotoCorp gained today after the Reserve Bank of India allowed FII investment of up to 49 per cent.
Hero MotoCorp shares were up 1.2 per cent to 3,072.35 rupees as of 9:50 a.m.
Also, sales boost seen due to festive demand, said traders.

Gold Holds Near $1,230, Fed Eyed

Singapore(Sharemasterindia.com): Gold steadied near $1,230 an ounce on Wednesday, clinging to modest gains from the previous session, ahead of the next guidance from the Federal Reserve on whether it will hike US interest rates sooner or keep them lower for longer.
The Fed wraps up its two-day policy meeting later on Wednesday at which it is expected to end its bond purchases amid signs of strength in the US economy.
But policymakers will likely reinforce its stated willingness to wait longer before raising interest rates after a volatile month in financial markets.
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The Nifty opened higher on Wednesday tracking positive global markets and futures trade on Singapore Stock Exchange. Both foreign and domestic investors turned net sellers of Indian equities on Tuesday. Foreign investors sold stocks worth rupee“>Rs. 108 crore, while domestic investors were net sellers to the tune of Rs. 100 crore in the cash segment.
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Sensex Rises Above 27,000; Nifty Inches Toward 8,100

BSE Sensex and Nifty moved higher today, buoyed by a rally in global markets. The Sensex rose over 150 points to hit 27,059 while Nifty rose to 8,081.05 at its day’s high.
The gains were broad-based with all the sectoral indices on the BSE moving higher. The breadth of the market was positive with BSE midcap and smallcap indices rising nearly 0.5 per cent.
Asian shares advanced to one-month highs on Wednesday, helped by Wall Street which gained on optimism over corporate earnings and prospects the U.S. Federal Reserve will reaffirm its willingness to wait longer before raising interest rates.
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