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BAJAJELEC - Bajaj Electricals News Story

₹453.1 -10.5  -2.3%

Last Trade - 24/09/20

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £551.2m
Enterprise Value £629.4m
Revenue £458.2m
Position in Universe 326th / 3011

Indian shares edge higher; Yellen's speech, Jan CPI on watch

Tue 11th February, 2014 11:02am
* BSE index gains 0.14 pct; NSE ends 0.15 pct higher 
    * Tata Motors surges after unit JLR margins beat estimates 
    * IT stocks gain after Nasscom says exports seen picking up 
in FY15 
 
    By Abhishek Vishnoi 
    MUMBAI, Feb 11 (Reuters) - Indian shares rose on Tuesday as 
Tata Motors rallied after its quarterly earnings surged on 
strong results at unit Jaguar Land Rover, while software 
services providers gained after an industry body predicted 
exports would improve. 
    However, broader gains were in check as Reliance Industries 
 RELI.NS  fell after Delhi Chief Minister Arvind Kejriwal said 
he has asked for legal cases to be filed against company 
Chairman Mukesh Ambani and policymakers over pricing of gas. 
 ID:nL3N0LG1OB  
    Investors are next expected to look at consumer inflation 
due on Wednesday, which is expected to have eased to 9.4 percent 
in January from a year earlier, compared with 9.87 percent in 
December, according to a Reuters poll of analysts.  ECON/IN  
    Globally, emerging markets will also focus on the testimony 
by Federal Reserve Chair Janet Yellen to the U.S. Congress later 
in the day.   ID:nL2N0LC1MU  
    "Moderation in retail inflation would be positive but that 
would lead to only a small rally. Big positions would not be 
taken till global markets give a decisive move," said Paras 
Adenwala, managing director and principal portfolio manager at 
Capital Portfolio Advisors.  
    The benchmark BSE index  .BSESN  rose 0.14 percent, or 29.10 
points, to 20,363.37. 
    The broader NSE index  .NSEI  gained 0.15 percent, or 9.25 
points, to 6,062.70. 
    Foreign investors sold Indian shares worth $72.2 million, 
for an eighth consecutive session on Monday, totalling sales of 
$655 million. 
    Shares of Tata Motors Ltd  TAMO.NS  surged 2.9 percent after 
the company's third-quarter net profit tripled to the highest in 
a year-and-a-half on strong demand for its luxury Jaguar Land 
Rover vehicles.  ID:nI8N0JS02H  
    Software services exporters gained after industry body 
Nasscom said exports from the sector would grow 13-15 percent in 
the fiscal year starting in April, up from 13 percent in fiscal 
2013/14.  ID:nL3N0LG1PT  
    Infosys  INFY.NS  rose 0.6 percent, Tata Consultancy 
Services  TCS.NS  ended higher 0.4 percent and HCL Technologies 
 HCLT.NS  gained 4 percent.  
    Idea Cellular Ltd  IDEA.NS  rose 2.6 percent on value-buying 
after the stock slumped 8.44 percent on Monday, its biggest 
single-day fall since Oct. 23, 2008 after rising prices in a 
mobile spectrum auction set off concerns about profit margins. 
 ID:nL3N0LF39L  
    Bajaj Electricals  BJEL.NS  surged 9.3 percent after the 
company's December-quarter profit rose 71.5 percent to 200.3 
million rupees, beating some analysts' estimates. 
 ID:nWNBS00BCW  
    Tata Steel  TISC.NS  rose 1.9 percent ahead of its earnings 
later in the day. 
    Bharat Forge  BFRG.NS  gained 6 percent after the company 
said it will merge two of its units.  ID:nL3N0LG1HP  
    However, among other stocks that fell, Reliance Industries 
fell 2 percent after Delhi chief minister Kejriwal said Ambani's 
company had created an artificial shortage to "blackmail" the 
government to set higher prices. 
    A Reliance spokesman declined to comment on the allegations. 
    Dr.Reddy's Laboratories Ltd  REDY.NS  fell 0.4 percent on 
profit-taking even after company's December-quarter results beat 
expectations, dealers said.   ID:nWNBS00BCZ  
     
   For additional stocks on the move double click  MEYE          
      
   FACTORS TO WATCH                                              
* Dollar at two-week low ahead of Yellen; Aussie firms    FRX/   
* Brent edges toward $109 on optimism Yellen may assure    O/R   
* Gold, shares up ahead of Yellen                    MKTS/GLOB   
* Foreign institutional investor flows         INFII   INFII01   
* For closing rates of Indian ADRs                       INADR   
                        
   ASIA-PACIFIC STOCK MARKETS:                                   
Pan-Asia........ STXNEWS/AS  Japan....... .T   S.Korea...  .KS   
S.E. Asia....... .SO         Hong Kong... .HK  Taiwan.... .TWX   
Australia/NZ.... .AX         India....... .BO  China.....  .SS   
                         
   OTHER MARKETS:                                                
Wall Street .... .N          Gold ....... GOL/ Currency.. FRX/   
Eurostocks..... .EU          Oil ........ O/R  JP bonds... JP/   
ADR Report ..... ADR/        LME metals. MET/L US bonds..  US/   
Stocks News US.. STXNEWS/US  Stocks News Europe     STXNEWS/EU   
                        
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Indian Data Watch   ID:nINDATA   Asia earnings diary ASIA/EQTY   
U.S. earnings diary RESF/US      European diary        WEU/QTY   
Indian diary        IN/DIARY     Wall Street Week Ahead   .N/O   
Eurostocks Week Ahead  .EU/O                                     
                          
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