BSE Sensex flat; COMPAT levies 10% penalty on cement cos

Moneycontrol Bureau

52-week highs Heavyweights like Bajaj Finance, Shree Cement, Glaxosmithkline Consumer, Apollo Hospitals, Yes Bank and Indiabulls Real Estate touched fresh 52-week highs in trade today.

Commodity Corner: MCX Gold future down Rs 38 at Rs 26093 per 10 gram. MCX Silver down Rs 64 at Rs 43198.

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Buzzing Stock: Tata Teleservices Maharashtra Limited down 5 percent. The offer for sale indicative price at Rs 3.49 per share. The company received bids for 1.87 lakh shares in offer for sale till 11:35 am.

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Earnings Impact: Sun TV Network's  fourth quarter net profit was up 12 percent at Rs 178 crore compared with Rs 159 crore, a year ago. The stock was down 1.5 percent.

Sun TV Boardroom: S-l Narayanan, Group CFO, Sun Group told CNBC-TV18, "Sun TV has hiked rates at an average of 19 percent for weekdays prime time shows. We have undertook price hikes after almost 24 months." 

On margin picture, he said "The volatility in margins is mostly on proprietary contents. We expect to maintain margins in the range of 75-80 percentage in the long-term."

Delivery Stats

JP Associates
Delivery volume down from 80 lakh to 22 lakh
Delivery percentage up from 16% to 24%

SBI
Delivery volume up from 5 lakh to 9 lakh
Delivery percentage up from 27% to 40%

ICICI Bank
Delivery volume up from 11 lakh to 17 lakh
Delivery percentage up from 46% to 55%

L&T
Delivery volume up from 5 lakh to 12 lakh
Delivery percentage up from 45% to 59%

RIL
Delivery volume up from 11 lakh to 18 lakh
Delivery percentage at 50%

ITC
Delivery volume up from 37 lakh to 53 lakh
Delivery percentage up from 67% to 72%

TCS
Delivery volume up from 8 lakh to 10 lakh
Delivery percentage up from 69% to 78%

Bajaj Auto
Delivery volume up from 3 lakh to 17 lakh
Delivery percentage down from 60% to 34%

11:27 am Buzzing Stock: Gujarat State Fertilizers & Chemicals fell 3 percent after net profit dropped 74.6 percent to Rs 58.44 crore on 10.9 percent rise in net sales to Rs 1696.10 crore in Q4 March 2013 over Q4 March 2012.

11:23 am Cigarette major ITC to announce results today.

ITC is expected to report a net profit of Rs 1,910 crore, up 18 percent year-on-year, while net sales are likely to increase 17 percent to Rs 8,025 crore, according to a CNBC-TV18 poll. Cigarette volumes are seen up 1.5 percent.

CNBC-TV18 Poll: ITC Q4 net profit seen up 18% at Rs 1,910cr

11:12 am Cement stocks buzzing in trade today. COMPAT levies 10 percent penalty of Rs 6300 crore on cement companies.

COMPAT directs cement companies to pay penalty within a month. The failure to pay penalty by the cement companies will result in dismissal of appeals.

ACC up 1.5 percent, Ambuja Cements up 1.8 percent despite levy of penalty.

See how cement stocks are moving

11:05 am Volumes in JM Financial surged more than 6 times the average volume on NSE.

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Indian shares took a breather and consolidated in the late morning trade on Friday. BSE Sensex was holding 20200 mark while Nifty managed to edge above 6150 led by buying in realty, power and IT stocks.

At 10.59 hrs IST, the Sensex is down 14.84 points or 0.07% at 20232.49, and the Nifty down 3.20 points or 0.05% at 6166.70. About 963 shares have advanced, 828 shares declined, and 121 shares are unchanged.

Bank Nifty was trading marginall weak on profit booking. The banking index has rallied over 5 percent in the last one week.  

Key gainers in the Nifty were (Grasim Rs 3,144.95, 1.86%), ACC (Rs 1,271.90, 1.72%), Ambuja Cements (Rs 189.80, 1.71%), Cairn India (Rs 301.70, 1.55%) and Jaiprakash Associates (Rs 81.05, 1.25%).

Laggards included IndusInd Bank (Rs 511.50, 2.49%), Dr Reddys Labs (Rs 2,078.00, 1.93%), Ranbaxy Labs (Rs 468.75, 1.34%), HDFC Bank (Rs 714.35, 1.17%) and Asian Paints (Rs 4,809.20, 1.08%)