Sensex, Nifty ended in green; Housing Finance shares hit new highs

Housing Finance companies hit new record on Tuesday's trading with Indiabulls Housing Finance, Can Fin Homes and LIC Housing Finance touching a 52-week high.

Share price of Indiabulls Housing Finance ended at Rs 1,076.95 per piece soaring over Rs 60 or 5.93%. The company hit a 52-week high of Rs 1,080 in intraday tradings.

Can Fin Homes jumped over Rs 217 or 8.30% on BSE at Rs 2,832.95 per piece. A 52-week high of Rs 2,855 was recorded during the day.

LIC Housing Finance after crossing a 52-week high of Rs 711.55 per piece during the day, finished at Rs 705.35 per piece above Rs 36 or 5.53%.

Other companies like Housing Development Finance Corporation (HDFC), Dewan Housing Finance Corporation (DHFL) and GIC Housing Finance also were soared between the range of 3% - 8%.

Sensex closed at 29,921.18 slightly higher by 3 points or 0.01%, while Nifty 50 ended at 9,313.80 above 9 points or 0.10%.

Top gainers on BSE were – ONGC at Rs 192.15 per piece up 3.14%, followed by HDFC at Rs 1,582.95 per piece (2.99%), Maruti Suzuki at Rs 6,705.65 per piece (2.76%), Gail India at Rs 429.95 per piece (1.46%), Bajaj Auto at Rs 2,904.95 per piece (1.28%) and Hero MotoCorp at Rs 3,351 per piece (1.22%).

Among losers involved Lupin at Rs 1,304.45 per piece down 2.49%, followed by Bharti Airtel at Rs 347.50 per piece (2%), Reliance Industries at Rs 1,370.90 per piece (1.71%), Sun Pharma at Rs 632.35 per piece (1.59%), NTPC at Rs 162.10 per piece (1.40%) and Tata Motors at Rs 451.65 per piece (1.34%).

Outlook on the sudden spike in Tea stocks.

Auto space and Banking stocks showing strength in the market.

Kansai Nerolac on Tuesday reported more than 81% decline in its standalone net profit for the fourth quarter ended March 31, 2017 result. 

The company reported net profit of Rs 116.17 crore in Q4, witnessing decline by 81.24% yearon-year (YoY) and 6.28% quarter-on-quarter (QoQ) basis. 

Standalone total income stood at Rs 1,085.98 crore, which was up by 8.24% yoy but came down by 7.05% qoq. 

For the financial year 2016-17 (FY17), the company's consolidated net profit stood at Rs 510.08 crore down 43.45% yoy but total income saw growth of 8.86% yoy to Rs 4,682.53 crore. 

In its meeting held on Tuesday, the company's Board of Directors had recommended a normal Dividend of 250% ( Rs.2.50 per share of the face value of Re. 1 each ) and a special dividend of 50% (Rs.0.50 per share of the face value of Re.1 each), thus aggregating to a total dividend of 300% ( Rs 3.00 per share of the face value of Re.1 each) for the year.

Share price of Kansai was trading at Rs 396.25 per piece on BSE, up 0.099%.

Share price of Ambuja Cement have tumbled by more than 4% despite reporting four-folds jump in net profit in the quarter ended March 31, 2017.

The company reported net profit of Rs 247 crore in the quarter, as against net profit of Rs 53.50 crore in the corresponding period of the previous year.

At 1306 hours, shares of Ambuja were trading at Rs 238.10 per piece on BSE, down Rs 8 or 3.19%.

Indications of range bound trade in the market.

Mahindra & Mahindra on Tuesday reported 6% decline in its total sales for the month of April 2017. The company sold a total of 39,357 units this month compared to 41,863 units in the similar month of the previous year.

In April month, domestic sales stood at 37,829 units, down 4% as against 39,357 units sold in April 2016. While exports saw a decrease of 39% to 1,528 units versus 2,506 units of April 2016.

Rajan Wadhera, President, Automotive Sector of M&M said, “We are hopeful that the new financial year will bring in positive sentiments for the automotive industry with the key demand drives in place. At Mahindra, we have registered a marginal de-growth in the month of April.”

Despite the decline in April sales number, Mahindra shares were trading positive above Rs 7 or 0.59% at Rs 1,342.50 per piece on BSE.

Reliance Communication on Tuesday said that the shareholders have approved the demerger of tower business of Reliance Infratel with Brookfield Infrastructure Group. 

In a BSE filing, RCom said, "Reliance Infratel Limited - a subsidiary of RCom at their meeting held on April 29, 2017 pursuant to the order of the National Company Law Tribunal (NCLT), have approved with 98% majority the Scheme of Arrangement for demerger of the Tower division of the RITL into Towercom Infrastructure Private Limited (TIPL).

RCom will receive upfront cash payment of Rs 11,000 crore ($1.7 billion) and 'B' class non voting shares in TowerCo providing 49% future economic upside from the business. 

Combination of RCom's wireless business with Aircel and monetisation of tower business together will reduce debt of Anil Ambani-backed RCom by nearly Rs 31,000 crore - which 70% of its total debt. 

Share price of RCom was trading at Rs 33.90 per piece down 1.74%.

Deposit interest or property may be attached: SC warns Unitech. 

Share price of Unitech was trading flat at Rs 5.69 per piece on BSE.

As a part of its initiative to tackle over visa-related issues, Infosys on Monday announced its plan to hire 10,000 American workers over the next two years. 

Vishal Sikka, Chief Executive Officer, Infosys said, “Infosys is committed to hiring 10,000 American technology workers over the next two years to help invent and deliver the digital futures for our clients in the United States." 

Share price of Infosys was trading slightly higher by Rs 2 or 0.23% on BSE at Rs 921.50 per piece. 

Indian Rupee was trading lower against US dollar. The rupee was trading at 64.143 down 0.072 paisa or 0.11% against dollar.

Top gainers on BSE involved Maruti Suzuki taking the lead after when it posted nearly 20% jump in its car sales for the month of April 2017. 

Share price of Maruti surged over Rs 137 or 2.11% on BSE, trading at Rs 6,663 per piece. 

Maruti posted a 19.5% jump in total sales in April at 151,215 units compared to 126,569 units sold in the same month of the previous year. 

Other gainers were - Hero Motocorp trading at Rs 3,360.25 per piece up 1.50%, HDFC at Rs 1,560 per piece (1.49%), ONGC at Rs 189.05 per piece (1.48%), Asian Paints at Rs 1,134.95 per piece (1.37%) and Bajaj Auto at Rs 2,897.75 per piece (1.02%). 

Among losers on BSE involved Tata Motors trading at Rs 453.20 per piece down 1%, followed by Reliance Industries (Rs 1,387.45 per piece), Dr Reddy's Laboratories (Rs 2,584 per piece), Hindustan Unilever (Rs 928.15 per piece) and Bharti Airtel (Rs 353.30 per piece) trading negative in the range of 0.30% - 0.90%.

Indian markets open in green with Sensex regaining 30,000-level. 

At 9.17 am, Sensex was trading at 30,032.29 above 113 points or 0.38%, while Nifty 50 climbed over 35 points or 0.38% trading at 9,339.85. 

Asian Markets were trading on a higher note as Japan and Hong Kong shares sees rally. 

Japan's Nikkei was trading at 19,446.18 up 135 points or 0.70%, while Hong Kong's Hang Seng was trading at 24,707.79 above 92 points or 0.38%. 

Taiwan shares also surged above 62 points or 0.63% trading at 9,934.06. 

Meanwhile, Austrailia shares were trading below 33 points or 0.55% at 5,943.60.

China's Shanghai SE Composite Index was down 6 points or 0.18% at 3,149.05. 

A Reuters report said, "Asian shares advanced on Tuesday, helped by rising optimism on the technology industry and easing concerns over North Korea, while the dollar edged up to one-month high versus the yen."