NSE WEEKLY NEWS UPDATE

✍ Record closing: Nifty ends at 8322, Sensex soars 519 pts
The market ended at record closing levels with mighty gains. The Sensex was up 519.50 points or 1.9 percent at 27865.83 and the Nifty ended up 153.00 points or 1.9 percent at 8322.20. About 1770 shares advanced, 1214 shares declined and 128 shares were unchanged. GAIL, Tata Power, HDFC, L&T and Tata Steel were top gainers in the Sensex. Deagged by Q2 results, Bharti and ITC were major losers.

✍ NSE cuts Nifty Futures lot size to 25
The National Stock Exchange has halved the lot size of Nifty Futures to 25 from October 31, the day on which new contracts for January 2015 will be available for trading. The Nifty lot size has been 50 since March 2007. The resizing comes on the back of doubling of the Nifty value over this period Lower capitalAccording to current guidelines issued by SEBI and NSE, the value of the derivative contract shall not be less than ₹2 lakh at the time of its introduction. Traders can have lower capital for trading in these futures. Margin requirements will drop proportionately. So, if for 50 Nifty you need 35,000, for 25 you need only ₹18,000. The same will be applicable for options shorting margin requirements as well.
Similarly, the lot size of Nifty Midcap 50 has also been reduced to 75 from the existing 150. The NSE also revised the market lot downwards for 48 stocks, which will Reflect the new lot size from Friday. However, for eight stocks, the revision will reflect from January 2015 only, to avoid operational complexities, the NSE said.

✍ ITC Q2 profit up 8.72% to Rs 2,425.16 crore
Leading conglomerate ITC Ltd on Friday posted a 8.72 per cent rise in its stand-alone net profit to Rs 2,425.16 crore for the second quarter ended September 30, 2014. The company had registered a net profit of Rs 2,230.53 crore in the July-September period of 2013-14. Standalone total income of the company during the quarter under review also increased 14.76 per cent to Rs 9,023.74 crore, compared to Rs 7,862.53 crore in the same period of previous fiscal, ITC Ltd said in a filing to BSE

✍ SBI stock split: Nov 21 is record date
State Bank of India has informed the exchanges that it has fixed the record date as November 21 for the purpose of determining the eligible shareholders for the proposed stock split. The banking major plans to reduce the face value of equity share ₹10 each to ₹1 of 10 equity shares. Stock split will take effect from November 20.

✍ Mahindra & Mahindra Q2 net profit down 4.33% at Rs 946.63 crore
Homegrown auto major Mahindra & Mahindra (M&M) on Friday reported 4.33% decline in standalone profit after tax (PAT) at Rs 946.63 crore for the second quarter ended September 30. The auto major had posted a PAT of Rs 989.5 crore during the same period a year ago. On a standalone basis, net sales during July-September quarter stood at Rs 9,418.10 crore, up 6.84% from Rs 8,814.33 crore earlier, Mahindra & Mahindra said in a filing to the BSE. During the quarter under review, revenue from automotive segment stood at Rs 6,135.69 crore, an increase of 6.14% as compared to Rs 5,780.52 crore in same quarter a year ago. While, revenue from farm equipment in Q2 of FY15 was at Rs 3,406.73 crore, up 8.23% as against Rs 3,147.64 in the corresponding year-ago period.

✍ Maruti Q2 net up 29%; to increase dividend payout
Maruti Suzuki on Thursday reported a 29% rise in second quarter profit and increased the dividend payout ratio in the range of 18% to 30% against the average 10-15% paid over the last few years. The company, controlled 56.3% by Japan's Suzuki, said higher sales and cost-belting measures helped tide over tough market conditions where discounts were high compared to the corresponding quarter of the previous year. Profit in the July-September'14-15 quarter stood at Rs 863 crore against the Rs 670 crore recorded in the same quarter of the previous fiscal while net sales revenue was up 17% at Rs 11,996 crore (Rs 10,212 crore).
The company, which introduced a new car in the Ciaz sedan, said vehicle sales were up 17% in the second quarter at 3.21 lakh units against 2.75 lakh units in the comparable period. And in a move aimed at pleasing investors ahead of a crucial vote to handover the Gujarat plant to parent Suzuki, the company's board approved the adoption of a guideline for a higher dividend payout ratio. It also recommended an increase in the FII limit to 40% from the present 24%, subject to shareholder approval and RBI nod. Chairman RC Bhargava said the company is yet to decide on a final date for the minority shareholders' voting to let Suzuki own and invest in the Gujarat plant, which has been slated to be commissioned in May-June 2017.

✍ Bharti Airtel Q2 net profit zooms 170 per cent
Higher data revenue powered the second quarter profits for Bharti Airtel, the country's largest mobile operator, which grew close to three-fold at Rs 1,383 crore against Rs 512 crore in the corresponding period of last fiscal.This was the fourth straight quarter of profit growth for the company which had reported its first profit growth in four years in the December quarter of 2013.
Total revenues for Bharti Airtel rose 7% in the period at Rs 22,845 crore as compared to Rs 21,324 crore in the corresponding period.

✍ Maruti Suzuki India, Axis Bank joins Rs 1-lakh-cr market-cap club
Maruti Suzuki India, the country’s largest carmaker and Axis Bank, the third largest private bank, have joined the elite club of companies with market capitalisation (m-cap) of more than Rs 1 lakh crore. Shares of both these companies hit their respective lifetime highs during intra-day deal on the bourses.At 1340 hours, shares of Axis Bank up about 2% to Rs 437 on the BSE, taking its market value to Rs 1,03,154 crore.
Axis Bank is at the nineteen positions in overall market capitalization ranking, now joined HDFC Bank, State Bank of India and ICICI Bank, which having m-cap of more than Rs 1 lakh crore.Maruti Suzuki India scrip too surged nearly 3% to Rs 3,331 on the BSE, taking its market value to Rs 1,00,594 crore. The company has become the second auto company after Tata Motors to cross the Rs 100,000 crore marks.
With the addition of Axis Bank and Maruti Suzuki India, total companies having m-cap of more than Rs 1 lakh crore now has 20 members.There are four each companies from information technology and banking sectors and two each from automobiles, fast moving consumer goods (FMCG) and oil and gas sectors are in the list.

✍ ACC Ltd clocks 62% rise in net profit in July-September quarter
Cement manufacturer ACC Ltd today reported a whopping 62 per cent rise in its consolidated net profit for July-September quarter at Rs 192.60 crore on better cost management and improved realisations. The company, which follows January-December as accounting year in line with its majority stakeholder Holcim, had reported Rs 118.90 crore net profit in the same quarter last year.

✍ ICICI Bank Q2 profit up 15%, beats estimates
ICICI Bank has reported a net profit of Rs 2,709 crore for the quarter ended September 2014 — an increase of 15% over Rs 2,352 crore in the corresponding quarter last year — following growth in auto and home loans and improved margins.
Speaking to newspersons after the results, Chanda Kochhar, MD & CEO, ICICI Bank, said that interest rates were headed downward. "We have seen a three- to four-basis-point reduction in the cost of funds. I think it is possible that this trend would continue and some amount of reduction (in lending rates) would take place," she said.

✍ Dr Reddy's second-quarter profit falls 17%
Dr Reddy's Laboratories Ltd, India's second-largest drugmaker by revenue, reported a 17 percent drop in its second-quarter profit due to higher costs, pushing its shares down nearly 3 percent on Wednesday. The company also said it bought the rights to sell the nicotine patch Habitrol in the United States from Novartis Consumer Health Inc, a unit of Swiss firm Novartis . The agreement was entered into on Oct. 18 and is subject to a review by the US Federal Trade Commission, Dr Reddy's said in a statement to the exchanges, without disclosing further details.
The company reported a net profit of 5.74 billion rupees ($93.6 million) for the quarter ended September, down from 6.90 billion rupees a year earlier.

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