Sensex & Nifty sluggish, Brent rises; Bharti falls 2%

1:55 pm Result: Pharmaceutical firm Wockhardt's third consolidated net profit increased 14 percent year-on-year to Rs 347 crore led by strong operational income and other income.

Consolidated total income rose 11.8 percent to Rs 1,382 crore during October-December quarter from Rs 1,236.4 crore in the year-ago period.

Operating profit (EBITDA) surged 92.4 percent on yearly basis to Rs 463 crore and operating profit margin spiked a whopping 1400 basis points to 33.5 percent in the quarter ended December 2014.

Other income jumped 4.5 times year-on-year to Rs 28.5 crore while finance cost declined to Rs 12 crore from Rs 30.5 crore during the same period.

1:45 pm Growth: India needs to grow at 7-8 percent a year to create more job opportunities for young people and double the size of the economy in 10 years, Minister of State for Finance Jayant Sinha said.

"We want to put India on sustainable non-inflationary growth trajectory of 7-8 percent growth. We need to have 7-8 percent growth to provide employment to young people that join workforce every year," Sinha said at 15th Delhi Sustainable Development Summit today.

"7-8 percent growth will double size of economy in the next 10 years. For this we need to build our productive capacity, but also need to ensure that our growth is sustainable," he added. The minister also stressed upon need to protect the environment.

1:30 pm Result: Canara Bank's third quarter net profit climbed 60.4 percent year-on-year to Rs 656 crore boosted by higher other income and lower provisions.

Net interest income, the difference between interest earned and interest expended, grew 6.9 percent to Rs 2,380.5 crore during October-December quarter compared to Rs 2,227 crore in same quarter last fiscal.

Provisions for bad loans declined 20 percent year-on-year (up 3.4 percent sequentially) to Rs 841.3 crore during the quarter with the provision coverage ratio at 59.44 percent at the end of December 2014.

Asset quality weakened a bit during the quarter as gross non-performing assets (NPA) increased 56 basis points Y-o-Y (up 43 bps Q-o-Q to 3.35 percent and net NPA rose 3 bps year-on-year (up 11 bps sequentially) to 2.42 percent.

Don't miss: Crompton Greaves slips 6%; Why are analysts still bullish?

The market is still flat with the Nifty managing to hold above 8750 marginally. The 50-share index is up 5.20 points at 8761.75. The Sensex is up 25.39 points at 29025.53, and the Nifty About 1323 shares have advanced, 1319 shares declined, and 242 shares are unchanged.

Sesa Sterlite is up 4 percent while ONGC gain 4 percent, Hindalco, Coal India and Tata Steel are other gainers in the Sensex. Among the losers are Axis Bank, BHEL, TCS, Bharti and Tata Motors.

Crude oil futures prices rose 0.96 percent to Rs 3,257 per barrel today as speculators engaged in enlarging positions, tracking a firming trend in Asian cues. At the Multi Commodity Exchange, crude oil for delivery in February traded Rs 31, or 0.96 percent, higher at Rs 3,257 per barrel, with a business turnover of 19,103 lots. The oil for March also moved up by Rs 30, or 0.90 per cent, to Rs 3.334 per barrel, with a business volume of 1,040 lots.

Analysts attributed the rise in crude oil futures to a firming trend in Asia, extending gains from the previous day due to a significant decline in US drilling activity. Crude also gained strength with the dollar dropping to a one week low after some weak US factory orders data in December.

Sensex, Nifty flat; Axis Bank dips again, Crompton tanks 6%

The market remained listless in morning trade. The Sensex rose 21.32 points to 29021.46 and the Nifty advanced 5.85 points to 8762.40. The broader markets too are flat in trade.

About 1083 shares have advanced, 808 shares declined, and 200 shares are unchanged on the Bombay Stock Exchange.

State-run oil & gas explorer ONGC rallied nearly 3 percent as government moves to iron-out the subsidy sharing formula and fast-track ONGC divestment. Oil ministry asked government not to impose any subsidy burden on upstream companies if crude prices stay at or less than USD 60 a barrel.

Sun Pharma climbed over 2 percent followed by HDFC, Infosys, Bharti Airtel, Sesa Sterlite, Tata Steel and GAIL with more than 1 percent gain.

However, Axis Bank fell another 3 percent after lossing 5 percent in previous session. Its rivals ICICI Bank and State Bank of India lost further, down 1-1.6 percent. TCS declined 1 percent.

Hero Motocorp shed more than a percent on earnings miss. Revenue in Q3 fell 0.5 percent with margins contracting 100 basis points to 12 percent on higher promotion/branding costs. Goldman Sachs cut FY15-18 EPS by 5-14 percent and target price lowered to Rs 2529.

Crompton Greaves tanked 6 percent on disappointing results, both standalone and consolidated results show year-on-year pressure on the topline and there was continued weakness in subsidiaries. JP Morgan cut FY16/17e earnings by around 11 percent and lowered target price to Rs 195 from Rs 215.

Sensex, Nifty under pressure; Reliance, ONGC, Bharti up

1:55 pm SEBI: Capital markets regulator Sebi has sought clarification from the merchant banker of State Bank of Travancore on the firm's proposed Rs 485-crore rights issue. Without disclosing the details, Sebi said "clarifications (are) awaited from lead manager" for the proposed rights issue. In rights issue, shares are issued to existing investors based on their holdings at a pre-determined price and ratio.

According to the latest weekly update to the processing status of draft offer documents filed with Sebi, the regulator said clarifications are awaited on the proposed rights issue of State Bank of Travancore as on January 30 this year. The status is updated on a weekly basis by the regulator and the next update of the status, as on February 6, would be uploaded on Sebi's website the next working day. Sebi said it might issue observations on State Bank of Travancore document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought from them.

1:40 pm Market outlook: The government needs to move faster on the divestment process, as institutional investors are concerned about the government’s approach to the fiscal deficit, feels Gautam Trivedi, MD & CEO, Religare Capital. In an interview, Trivedi says market is having high expectations from the Railway Budget as well as Union Budget. On the positive side, he says foreign investor interest remains strong even as domestic institutions have been booking profits. He expects corporate earnings to grow 10-15 percent this year. Trivedi is cautious on banks, particularly state-owned banks, as he feels the fourth quarter numbers could be even worse than the third quarter ones. HDFC Bank is his top pick in the banking space.

1:30 pm Result: NHPC disappointed street on Tuesday by reporting a 30.6 percent decline (year-on-year) in profit at Rs 180 crore due to higher interest cost.

Profit was expected at Rs 300 crore on revenue of Rs 1,378 crore for the quarter, according to the average of estimates of analysts.

Net sales of the state-run hydro power generation company grew 3.9 percent to Rs 1,167 crore during October-December quarter from Rs 1,123.4 crore in same quarter last fiscal.

Operating profit declined 10.1 percent on yearly basis to Rs 561 crore and margin slipped 740 basis points to 48.1 percent in the quarter gone by. Analysts had expected operating profit at Rs 757 crore and margin at 54.9 percent for the quarter.

Don't miss: PNB tanks 7% on Q3 NPA pinch; UBS downgrades to neutral

The market continues to be under pressure. The Sensex is down 173.79 points or 0.6 percent at 28948.48, and the Nifty is down 54.40 points or 0.6 percent at 8743.00. About 1156 shares have advanced, 1450 shares declined, and 259 shares are unchanged.

Sesa Sterlite, Reliance, Tata Motors, ONGC and Bharti are top gainers in the Sensex. Among the losers are Axis Bank, Bajaj Auto, M&M, HDFC and SBI.

Signalling strong demand for government bonds, overseas investors have put in bids worth Rs 813 crore, oversubscribing a Rs 310 crore auction for debt securities by more than two times.

The auction was held at 'nse-ebid' platform for allocation of investment limits in government debt securities worth Rs 310 crore (USD 50.2 million). The auction attracted bids for Rs 813 crore (USD 131.64 million), as per the bourse.

At the end of two-hour auction last evening, as many as 43 bids were made in the auction, of which 21 were declared successful. The debt auction quotas give overseas investors the right to invest in debt up to the limit purchased.

Foreign investors have so far put in over Rs 23,000 crore in the debt market in 2015. The equity market has also seen similar trends with overseas fund inflows of more than Rs 18,244 crore since the beginning of the year.

Prepare Your Allergy First Aid Kit

Allergy is a very common health problem that may be suffered by most people. You may be one of them suffering from allergy. If you are allergic to some allergens, you should prepare your allergy first aid kit wherever you are. There are several items that you should bring everyday to prevent your allergic reactions. These items are very useful to help you solve your allergic problems anytime anywhere. You should bring these items at home, work, or event gym area. Here are some items that should be contained inside your first aid kit 

1.    Epinephrine

For some people with serious allergy symptoms, this hormone is very useful because it can save their life. There are many benefits that you can get from this hormone. Epinephrine can reduce the allergic symptoms for most people. There are many products that you can use as the best epinephrine products in the market. You can use some epinephrine auto injector products, such as EpiPen or Auvi-Q. You should be very careful in reading the packaging of these products. Take a look at the expiration date. Do not use any medications that pass the expiration date. Do not store this medicine in your car. It may change the composition when it is exposed to direct sunlight. 

2.       Inhaler

This product is very useful to help you with your asthma problems. There are many different inhalers that are available on the health stores. You can choose the best product based on the customer reviews from the Internet. You can also discuss with your personal doctors before purchasing an inhaler for you. This product is very important, especially for people with asthma like symptoms during their allergic reactions. Do not use other people’s inhaler. Different inhalers may contain different ingredients. Therefore, you should only use an inhaler that is prescribed to you. 

3.       Antihistamines

This is another important medication that you should have in your first aid kit. Antihistamine medications, such as Benadryl, can be used to target histamine or other chemicals inside your body during your allergic reaction. This product is very useful to slow down the allergic reaction inside your body. Some doctors claim that this product is very useful to save your life during an allergic reaction. There are many forms of antihistamines. You can purchase this medicine in forms of liquid, pill, or chewable product. The best one is the liquid antihistamines. The liquid product can act much faster than any other forms of antihistamines. 

4.       Diphenhydramine

If you have allergy, you should consider this product. It is considered as one of the most important allergy medications that are available on the market. This product can relieve you from most types of allergic reactions. In some cases, this medicine is also used to treat anaphylaxis. If you are allergic to bug bites or poison plants, you can use this medicine to reduce the allergic symptoms. It can save your life, especially if you use this product correctly. It is available in pill or cream forms. When you want to solve your skin allergic reactions, you should use the cream products. 

5.       Medical Information

When you prepare your first aid kit, you should not forget the medical information. It is essential for you to create a medical information about your allergy and your allergy kits. You should put all information regarding your allergic reaction, medicines that you should take, some emergency contacts, health insurance information, and any other important information in your medical checklist. You need to update this information regularly. You also need to keep your doctors’ personal number. This is very crucial, especially when you have an emergency allergic reaction.

They are some important items that you should put inside your allergy first aid kit. If you are an allergy sufferer, you should bring all of those items when you are traveling. This advice is very important because these medications may save your life, especially if you suffer some severe allergic reactions. Do not forget to consult with your doctor regularly to check your body condition. You also need to bring your personal medications inside your first aid kit. This first aid kit can act as the best treatment for solving your allergy problems anywhere anytime you are. More information please visit site www.flattenyourabs.net