BSE Sensex flat; Nifty holds 6150; pharma, infra up

Moneycontrol Bureau
Live Market Commentary

Nectar LifeSciences surged over 30 percent in 3 days. See what management has to say.

See 2% margin growth in FY14: Nectar Lifesciences

TTK Prestige Q4 Results out, better than estimates. Stock up 3 percent.

The company posted 40 percent jump in net profit to Rs 28 crore compared to Rs 19.7 crore, a year ago. Sales suregd to Rs 283 crore from Rs 232.5 crore, in the same quarter last fiscal.

Commodity check: In commodities, Brent crude gains to 103 dollars per barrel. Gold continues its decline, down over a percent today to 1380 dollar levels.

Also Read: Gold demand in India rises by 27% in Jan-Mar: WGC

Currency check: In the currency space, the euro is trading at sub 1.29 levels to the dollar. The dollar index is strong, inching close to the 84 mark. Indian Rupee at 54.84, up 6 paise.

MUST READ: AirAsia's Chandilya will have to be cost leader in India

Bajaj Auto Boardroom: Rajiv Bajaj, MD of Bajaj Auto told CNBC-TV18, "Bangladesh and Sri Lankan markets continue to underperform. I don’t see growth in these markets right now. EBITDA margins will be maintained at 20 percent."

"Exports contribute at 33% of total revenue. Bajaj Auto is optimistic of maintaining double digit exports growth. The company continues to gain market share at retail level. " he added.

On 3-wheelers, he expects 10-12 percent growth in this segment going forward.

VIP Boardroom: International biz to recover; eye 11-12% CSD sales in FY14, says VIP

F&O Action Fresh longs seen in JP Associates (OI +29 lakh shares), DLF (OI up 6%), IDFC, Dr Reddy's, HDIL (OI +17 lakh shares), Unitech and IVRCL.

India VIX at 18.2, Nifty Open Interest Put Call Ratio at 1.24 vs 1.25. Highest OI Seen in Nifty 5800 Put, Nifty 6000 Put and Nifty 6200 Call .

01:31 pm Bajaj Auto Results out, in-line with estimates: Net profit at Rs 766 crore compared to CNBC-TV18 poll of Rs 709 crore. Revenues at Rs 4990 crore. Stock up 1.5 percent.

News flash: No respite for Indian Rupee, 55 levels on cards, say Experts

01:17pm The broader markets are performing even better than the benchmark indices. Apollo Hospital (Rs 1,039.00, 7.57%), Indiabulls Real (Rs 85.10, 6.31%), Linde India (Rs 265.00, 5.60%), HDIL (Rs 59.50, 5.22%) Bajaj Finance (Rs 1,460.50, 4.33%).

Bajaj Auto Results Poll: Some key factors to note this time

According to a CNBC-TV18 poll, revenues may rise nearly 3 percent to Rs 4,780 crores. However, profits may decline over 8 percent, Y-o-Y. Margins are expected to be lower.

- Lost 1% market share overall in FY13
- Outlook for volumes in both domestic and export markets.
- Update on RE-60 production timelines (quadricycle development)
- New launches for FY14 

01:13 pm Bank Nifty surged over a percent at 13265.75, up 188 pts

01:10 pm Sectoral Gainers: Sharesof realty, oil&gas, pharma, banks and capital goods surged in the afternoon trade

It was a stable session for the Nifty above 6150 after hitting 30-month highs in early trade. Pharma, financials and infrastructure led the charge. The midcap index outperformed, up 0.5 percent.

At 12.57 hrs IST, the Sensex was up 31.97 points at 20244.93, and the Nifty gained 22.30 points  at 6169.05. About 1064 shares have advanced, 1113 shares declined, and 144 shares are unchanged.

Key gainers in the Sensex were Dr Reddys Labs (Rs 2,130.00, 3.17%), Cipla (Rs 421.90, 2.54%), Reliance (Rs 836.70, 2.19%), SBI (Rs 2,435.15, 2.12%), ICICI Bank (Rs 1,214.00, 1.88%)

Laggards included ITC (Rs 334.75, 2.31%), Infosys (Rs 2,329.60, 1.3%), TCS (Rs 1,454.25, 1.02%), Jindal Steel (Rs 309.50, 0.96%) and Tata Motors (Rs 305.50, 0.94%).