BSE Sensex up for 3rd day; Coal India, Hero Moto, RIL shine

Key equity benchmarks surged in the late afternoon trade to extend its rally for three consecutive sessions after big rout last week. The news of monsoon expected to hit India in the next 3-4 days helped lift the sentiment considering agriculture contributes significantly to the country's growth.

The Sensex closed at 20160, up 130 points and the Nifty ended at 6111.25, up 28 points. The breadth of the market was neutral. About 1196 shares advanced, 1142 shares declined, and 171 shares were unchanged.
 
Major gainers in the Nifty were Hero Motocorp , Jaiprakash Associates , BHEL , Coal India and Mahindra and Mahindra , up between 3 to 6 percent.

Laggards included Ranbaxy Labs , Kotak Mahindra Bank , Sun Pharma , UltraTech Cement and SBI , down 1 to 2 percent.

"India is likely to get a bigger share of foreign flows amongst emerging markets in the next few months," said Prabhat Awashthi of Nomura Financial Advisory today.

He, however, cautions that analysts are not very bullish on India getting on stable growth trajectory, going forward. He also believes that rate cuts are not necessary if economic dynamics are moving in right direction.

Shares of Coal India rallied to 3-month high on better-than-expected earnings and price hike. The overhang of offer for sale however remains on the stock.

Reliance Industries extended its rally and surged another 2 percent today. Over 2 crore shares changed hands on the National Stock Exchange at Rs 848 via block deal.

Earnings Central
State-run GAIL India's March quarter profit more than halved to Rs 618 crore quarter-on-quarter on higher employee cost and depreciation cost. Sales also declined marginally to Rs 12408 crore.

Colgate Palmolive disappointed the street with its fourth quarter net profit at Rs 123 crore as against Rs 131 crore in a year ago period. The fall in bottomline was due to higher advertisement spends. Net sales grew slightly higher-than-expected 18.3 percent to Rs 811.6 crore.

3:45pm OFS update: AstraZeneca Pharma offer-for-sale (OFS) fully subscribed at 2.2 times. It got bid  81.1 lk shares till 3:15pm. Its indicative price was at Rs 522.03 per share vs floor price of Rs 490 per share. AstraZeneca Pharma ends at  Rs 667.90, down Rs 130.75, or 16.37 percent on the BSE.

3:41 pm Market update: The Sensex ends up 130.05 points at 20160.82, and the Nifty closes at 6111.25 up 28.10 points.

3:30 pm Weak indices: BSE Bankex and BSE Healthcare index closed in the read. Sun Pharma , SBI , Sterlite Industries, Cipla and HDFC are key losers in the index.

Boardroom:
JK Tyre sees improvement in sales by Sept-Oct of this year

See 25-30% EBITDA, profit growth in FY14: McLeod Russel

Earnings update:
GAIL's March quarter net profit narrowed to Rs 618 crore from Rs 1285 crore sequentially. During the same period, net sales was at Rs 12408 crore. Tax expense was at  Rs 522.7 crore while subsidies at Rs 587 crore. The stock is quoting at Rs 327.50, up Rs 1.70, or 0.52 percent on the BSE.

Expert take: India has no case for rating upgrade, says CLSA's Rajiv Malik

The market has picked up momentum in late afternoon trade. The Sensex is up 119.25 points or 0.60% at 20150.02, and the Nifty up 24.75 points or 0.41% at 6107.90.

Oil and gas, auto, consumer durables and power stocks are on buyers' radar today.

Hero Motocorp , BHEL , Coal India , RIL and ITC are key gainers in the Sensex. The real action lies in the midcap space. Opto Circuits , HDIL and Sintex are some of the top gainers in trade today

Among the loser stocks are Sun Pharma, SBI, Sterlite, Tata Power and Cipla.

02:58pm The BSE Sensex is up 151 points or 0.75 percent at 20181.77, and the Nifty up 36.05 points or 0.59 percent at 6119.20.

Indian equities remain in a positive terrain following rally in European markets. France's CAC, Germany's DAX and Britain's FTSE are up 1-1.7 percent.

02:50pm Colgate shares fell 1.5 percent, after it reported lower-than-expected fourth quarter net profit at Rs 123 crore as against analysts' forecast of Rs 142 crore, despite higher-than-expected volume growth of 12 percent. The company had reported a profit of Rs 131 crore in fourth quarter of previous financial year.

However, net sales grew by 18 percent year-on-year to Rs 811.6 crore during the quarter.

02:45pm  Videocon Industries is marginally up as cogencis' sources say Anadarko is keen on selling 10 percent in Mozambique block to Shell.

It is learnt that Videocon may announce deal with ONGC-OIL within 2 weeks.

Anadarko Petroleum Corporation is the operator of Rovumal block, offshore Mozambique, with a 36.5 percent working interest. Mitsui E&P Mozambique Area 1 holds 20 percent stake, BPRL Ventures 10 percent Videocon 10 percent and PTT  Exploration 8.5 percent.

02:40pm Havells India climbed more than 6 percent, after it reported 20 percent growth year-on-year in profit at Rs 109.7 crore during the fourth quarter. Total income rose by 11.7 percent Y-o-Y to Rs 1,169.6 during January-March quarter.

Essar Shipping spiked 6 percent amid large volumes, despite weak earnings during March quarter. Consolidated net profit dropped quite sharply to Rs 0.05 crore from Rs 55 crore year-on-year and total income declined to Rs 729 crore from Rs 826.4 crore Y-o-Y.

02:35pm The Indian rupee depreciated further, inching towards 56 mark. It was trading at 55.95, down 38 paise or 0.69 percent compared to previous day's closing value.

02:30pm The BSE Sensex came off day's high, rising 91.13 points to 20121.90, and the Nifty is up 20.65 points or 0.34% at 6103.80.

Tata Global Beverage rose by 2.5 percent, after its fourth quarter consolidated profit after tax grew by 76.6 percent to Rs 96 crore and net sales increased 5 percent to Rs 1,811 crore.

02:20pm Sources say Adani Power is likely to raise around Rs 3,000 crore through external commercial borrowing to reduce interest cost by 5 percent.

It is learnt that the fund raising will be at the rate of 6.5-7 percent. According to sources, raising funds from Chinese banks will refinance Tiroda debt.

Also Read - Report card: How broking firms grade Coal India Q4 results

660 MW already commissioned in Tiroda plant and another 660 mw unit will get commissioned by July, sources add. The stock gained one percent.

02:10pm Infinite Computer Solutions is locked at 10 percent upper circuit at Rs 90.65, after the board of directors of the company said would consider buyback of shares on June 5.

Met Department says monsoon may hit parts of northeastern states in 3-4 days.

02:00pm Equity benchmarks extended gains in afternoon trade, led by index heavyweights Reliance Industries and ITC , which both rallied more than 2 percent.

The BSE Sensex is up 173.62 points or 0.87% at 20204.39, and the Nifty up 43.25 points or 0.71% at 6126.40.

Also Read - Stable growth far cry, but FIIs will favour India: Nomura

Top gainers: Hero MotoCorp, Coal India and BHEL rallied more than 3 percent.

Private sector lender HDFC Bank recouped morning losses, rising nearly 0.6 percent while its rival ICICI Bank shares gained 1 percent.

01:58pm Indoco Remedies Q4: The company reported flat growth in net profit at Rs 12.9 crore compared to Rs 12.5 crore in the same quarter last year. Sales were up close to 9 percent at Rs 160.5 crore. The stock was up 4 percent.

01:53pm Tata Global Q4 results: Consolidated net profit jumped to Rs 96 crore from Rs 54.2 crore, a year ago. The stock surged 3 percent. The company posted consolidated net sales of Rs 1811 crore against Rs 1724 crore.

01:47pm More trouble for IT companies

IT companies have raised their concerns over certain clauses in the US immigration bill's legislation which was approved in their senate recently. Some of the clauses, if enforced, will bar the model of sending engineers for short-term projects and issuing temporary work permits.

Impact: Nomura sees 150-400bps margin hit for IT cos from US bill

01:40pm Europe update: DAX, CAC and FTSE up between 1-1.5 percent. It will be interesting to see if Indian markets too rally tracking positive European shares.

01:35pm Peninsula Land lost over 5 percent today on dismal fourth quarter results. The management however remains optimistic to sell 4 million sq ft over the next three-four years.

Full interview Projects worth 4mn sqft in pipeline for 3-4 yrs: Peninsula

01:29pm Monsoon check: Indian meteorological department (IMD) said monsoon may hit parts of north-eastern states in 3 to 4 days.

Editor's Pick- Talent shortage: Employers struggle to fill vacancies

01:23pm Shares of JK Tyre were up 3 percent after Arun Bajoria, president and director of JK Tyre told CNBC-TV18, "I expect an improvement in the company's performance on a whole year basis despite the reduced sales currently owing to the sluggishness in the auto markets."

Full interview: JK Tyre sees improvement in sales by Sept-Oct of this year

01:20pm Astrazeneca cracks 14 percent after the company sets the floor price for the offer for sale at Rs 490 per share, a significant discount to its current market price.

01:18pm Midcap buzzers: Key gainers in the broader markets were KSK Energy (Rs 54.60, 4.70%), Gujarat State Petronet (Rs 60.50, 4.31%), Opto Circuits (Rs 50.95, 4.30%), Havells India (Rs 727.70, 4.23%), HDIL (Rs 52.10, 3.89%).

01:11pm Earnings Central: In earnings today, Sun Pharma revenues may surge 26 percent and margins could expand over 43 percent. Also news reports indicate Sun Pharma could be looking to buyout Germany-based pharmaceutical firm Stada.

GAIL is strong ahead of its numbers, year on year profits could surge to over Rs 1000 crore on lower subsidy burden at Rs 600 crore.

01:02pm Power stocks buzzing in trade

Power Minister Jyotiraditya Scindia has said that the ministry has discussed transmission issues with advisory group which will give list of five actionable items on coal and gas. The group will also give list of actionable items on hydro and transmission. The ministry will meet again on changes in electricity Act on June 26. BSE Power index is up 1.2 percent from its previous close.

Indian shares were trading volatile in the afternoon trade ahead of the derivatives expiry on Thursday. European markets also opened marginally in flat tracking positive closing of Asian shares.

At 13.03 hrs IST, the Sensex was up 49.21 points or 0.25% at 20079, and the Nifty was up 10.45 points or 0.17% at 6093. About 1065 shares have advanced, 1030 shares declined, and 150 shares were unchanged.

Major gainers in the Sensex were BHEL (Rs 204.05, 3.71%), Coal India (Rs 324.10, 3.38%), GAIL (Rs 334.05, 2.53%), Bharti Airtel (Rs 315.75, 2.13%) and Hero Motocorp (Rs 1,695.30, 2.06%)

Laggards included Sun Pharma (Rs 998.45, 1.62%), HDFC (Rs 916.80, 1.19%), Mahindra and Mahindra (Rs 941.40, 1.1%), Larsen  (Rs 1,450.75, 1%) and Sterlite Industries (Rs 95.25, 0.94%)

12:55 pm Warning bells! S&P warns that asset quality of Indian banks will remain weak in 2013. The rating agency is expecting Indian banks' non-performing assets to surge in FY14. Banks' credit cycle and performance is seen improving from FY 15, it adds. BSE Bankex is down 0.3 percent from its previous close.

12:50 pm  Power Minister Jyotiraditya Scindia has said that the ministry has discussed transmission issues with advisory group which will give list of five actionable items on coal and gas. The group will also give list of actionable items on hydro and transmission. The ministry will meet again on changes in electricity Act on June 26. BSE Power index is up 1.2 percent from its previous close.

Don't miss: Trading tips for 7 stocks that will announce Q4 earnings today

12:45 pm Buzzing now: BHEL is quoting at Rs 203.00, up Rs 6.25, or 3.18 percent on the BSE.

12:40 pm Macro talk: The Reserve Bank of India is likely to take steps to address the tight liquidity situation in the banking system, Deputy Governor HR Khan said on Tuesday, reports Reuters.

The RBI was making an assessment on the liquidity situation, Khan told reporters on the sidelines of a central bank event, responding to a question on the timing of open market operations.

The deputy governor also said the government's cash balance was "quite substantial", which is an indicator of excess idle money with the government, outside of banks.

12:35 pm Market:  The Sensex is up 15.89 points at 20046.66, and the Nifty is down 2.95 points at 6080.20.

12:30 European Market update: The European markets opened in the positive territory. FTSE 100, CAC 40, DAX are up 0.9 percent, 0.3 percent and 0.5 percent respectively.

12:25 pm Loser: TV Today Network slips 8 percent to Rs 78.00 on the BSE. The company's standalone net profit fell 13% year-on-year (yoy) to Rs 6.36 crore for the fourth quarter ended March 31, 2013.

12:20 pm: Sterlite Industries, Sun Pharma, M&M, HDFC and SBI are major losers in the Sensex.

Check out: Oil prices, dollar may set off on new relationship

12:15 pm AstraZeneca Pharma OFS update: Gets bids for 1.1 lakh shares vs issue of 37.5 lakh till 11:55 am. Indicative price at Rs 513.74 per share vs floor price of Rs 490 per share. The stock is quoting at Rs 704.05, down Rs 94.60, or 11.84 percent on the BSE.

12:10 pm Gainers: Coal India, GAIL, Bharti Airtel, BHEL and ONGC continue to lead the Sensex gainers.

Report card: How broking firms grade Coal India Q4 results

The Nifty cools off after touching 6100 in early trade as investors look a bit cautious. The Sensex is up 5.28 points at 20036.05, and the Nifty is down 2.80 points at 6080.35. About 958 shares have advanced, 973 shares declined, and 142 shares are unchanged.

Realty stocks are gaining strength. HDIL (up 3.8 percent), Sobha Developer (2.8 percent) are lead gainers among the realty stocks.

Prabhat Awasthi of Nomura says investor sentiment has improved over the past few months and is hopeful that India will get more foreign flows in the next few months. However, he does not expect big-bang reforms till elections are out of the way.

11:59am Adani Power rose more than one percent after the board of directors approved allotment of 45 crore shares to Adani Enterprises, which holds 63.99 percent stake in the company , at Rs 53.11 a piece on preferential basis.

The company will get nearly Rs 2,389.95 crore through this preferential issue.

11:55am Escorts rallied 8 percent. Joint MD, Nikhil Nanda expects normal monsoon this year, aiding tractor growth. "We pleasently surprised by 40 percent jump in tractor sales in April."

He says he is confident of increasing tractor volumes going ahead. Nanda expects revival in farm equipment segment in FY14.

11:50am Coal India remains top gainer among largecaps, rising more than 3 percent after fourth quarter earnings. Barclays is overweight on the stock with a target price of Rs 411.

"The company reported a strong 13 percent beat to PAT estimates on the back of higher-than-expected incentives and realisations on FSA (fuel supply aggrement) volumes. Dividend payout increased to 51 percent for FY13," Barclays report said.

11:45am Alembic Pharmaceuticals shares surged 13 percent to Rs 132.25 amid large volumes. Telecom operator Idea Cellular gained for the second consecutive session today, rising more than six percent since Monday.

Smallcap - Kirloskar Brothers jumped 5 percent after the company turned profitable with fourth quarter net at Rs 24 crore as against loss of Rs 20.6 crore reported in a year ago period.

11:40am Financial Technologies gained 2 percent after media reports that the company is in talks with PE players to sell 6 percent stake in IEX and the deal is expected to be around Rs 300-500 crore.

Sun TV Network declined 1.5 percent ahead of offer for sale issue that will open on Wednesday. Promoter Kalanithi Maran, who holds 77 percent stake in the company, will sell 78.8 lakh shares or 2 percent stake via OFS for complying minimum public shareholding norms of 25 percent by June 2013.

11:30am Indian equity benchmarks remain in a consolidation phase since early trade. But the BSE Sensex holds the 20,000 level, which is down 13.32 points to 20,017.45. Meanwhile, the Nifty slipped 10.40 points to 6072.75.

Jindal Stainless rallied 4 percent after the board of directors of the company approved issue of 1.34 crore equity shares on preferential basis to promoters at Rs 74/share.

However, the stock avoided reacting to weak quarterly earnings. It reported a loss of Rs 180 crore during the fourth quarter as against profit of Rs 18.5 crore in a year ago period.

11:25am Tata Chemicals touched a fresh 52-week low of Rs 298.55 Tuesday, after the company reported a consolidated loss at Rs 188 crore during the January-March quarter due to exceptional loss of Rs 514.6 crore. It had reported a profit of Rs 139 crore in corresponding quarter of last fiscal.

11:20am JK Tyre gained 2.68 percent to Rs 120.70 despite fall in topline and bottomline numbers. Net profit of the company dropped significantly to Rs 33.7 crore during the fourth quarter as against Rs 86.3 crore crore reported in a year ago period.

Company will invest Rs 800 crore on capacity expansion and will double its capacity of Chennai manufacturing facility over two years.

11:10am Havells India touched a new 52-week high of Rs 720, rising 3 percent ahead of fourth quarter earnings. Analysts on an average expect the company to report 11 percent growth year-on-year in standalone profit after tax at Rs 102 crore.

Reliance Broadcast Network dropped more than 2 percent on profit booking. In previous session the stock rallied nearly 6 percent after the company raised advertisement rates.

11:00am Equity benchmarks erased early gains due to profit booking, after witnessing a 326 points rally in previous session.

The BSE Sensex is down 57.12 points or 0.29 percent at 19973.65, and the Nifty down 26.10 points or 0.43 percent at 6057.05.

Housing finance company HDFC and private sector lender HDFC Bank are down 1.2 percent and 0.8 percent, respectively.

Top lender State Bank of India slipped more than one percent whereas its rival ICICI Bank gained 0.5 percent.

10:53am Sensex lost 150 points from day's high on profit booking at hihgher levels. The Sensex was down 48 points at 19982 and the Nifty was down 19 points at 6063. About 867 shares advanced, 827 shares declined, and 108 shares were unchanged.

10:50am Trading Bets: ICICI Direct has a buy on Infosys with a target of Rs 2345 and then Rs 2370. The broking firm recommends placing a stop loss at Rs 2295.

AnandRathi has a buy on Hindustan Zinc with a target of Rs 126 and stop loss at Rs 117.

10:48am Board of Jindal Stainless has okayed to issue over 1 crore shares on a preferential basis to promoters at Rs 74 apiece. The stock was up over 4 percent.

10:46am Pipavav Defence has allotted 2.45 crore shares or 3.5 percent to Saab AB for over Rs 200 crore, priced at Rs 82 a share. The stock is up less than a percent.

10:43am Peninsula Land cracked 5 percent post weak results. Sales were down 61 percent and profits were down 56 percent at Rs 36 crore. The second quarter of weak earnings was mostly due to no revenue recognition of Peninsula business park sales.

10:32am Shares in Coal India jumped to three-month highs after its consolidated fourth quarter earnings beat estimates coupled with price hike.

Coal India said it would raise prices as of Tuesday, adding the hikes would increase revenue by about 21.19 billion rupees for the rest of the fiscal 2013-14 year.

10:30am Technical check: Heavyweights like Reliance Industries , Coal India, Bharti Airtel and IDFC were trading above their 100 day moving average.

10:25am GAIL is up 2 percent ahead of its earnings today.

Net sales are seen 13 percent higher year-on-year, while the big move will be seen in the EBITDA and bottomline where a 100% growth is expected as per CNBC-TV18 poll. Additionally, subsidy is also seen much lower at Rs 600 crore compared to Rs 1360 crore last year.

10:15am CLSA outlook ahead of GDP numbers

Economists are expecting 4.8 percent GDP growth in Q4 and annual GDP growth at decade low of close to 5 percent.

Although a sub 5 percent real GDP growth and an improving WPI inflation will trigger expectations of a rate cut, the Reserve Bank of India is likely to cite trade deficit, pressure on rupee and elevated retail inflation as reasons to desist from easing repo rates in June, maintained CLSA.

10:09am Results Poll: Aluminium major Hindalco is expected to post around 17 percent decline in its Q4 PAT on lower other income and high depreciation charges. Mahan smelter was to be commissioned in 4QFY13 but has not been commissioned yet. This block is critical for Hindalco as it will boost its profitability. The stock has been a big underperformer and down over 10 percent year-to-date.

Read: Here's what to expect from Hindalco in Q4

10:05am Block Deal: Reliance Industries  ( RIL ) shares gained one percent in early trade Tuesday, after more than two crore equity shares changed hands on National Stock Exchange at Rs 848 a piece via block deal. RIL has advanced for the third consecutive session today, rising 6.7 percent since last Friday.

Full article: Reliance Industries gains after block deal of 2 cr shares

Indian shares were consolidating in the morning trade tracking positive regional shares. Japan's Nikkei was up 1 percent recovering from a 1.4 percent drop in the opening bell. Investors will take cues from US and UK markets when they resume trade after holidays on Monday.

At 10.00 hrs IST, the Sensex is up 40.93 points or 0.20% at 20071.70, and the Nifty up 8.45 points or 0.14% at 6091.60. About 781 shares have advanced, 469 shares declined, and 70 shares are unchanged.

Key gainers in the Nifty were Coal India (Rs 324.50, 3.41%), Bharti Airtel (Rs 316.25, 2.30%), Jaiprakash Associates (Rs 70.55, 2.25%), GAIL (Rs 331.05, 2.02%) and ONGC (Rs 332.00, 1.54%).

Laggards included UltraTech Cement (Rs 1,981.00, 1.62%), Hindalco (Rs 109.40, 1.08%), DLF (Rs 213.05, 1.05%), Kotak Mahindra Bank (Rs 782.00, 0.94%) and Ranbaxy Labs (Rs 401.05, 0.93%)

9:50 am Macro outlook: The Prime Minister Manmohan Singh is hopeful that Indian economy will grow by 6 percent in FY14. Singh is confident India can return to growth path of 8 percent.

9:45 am RIL Block Deal: 2.04 crore RIL shares changed hands on NSE at Rs 848 per share.

9:35 am OFS update: AstraZeneca offer-for-sale (OFS) opens and the shares crashes 14.37 percent on low floor price which is set at Rs 490 per share. It is quoting at Rs 683.90, down Rs 114.75, or 14.37 percent on the BSE.

Expert comments:
Nifty may head 50pts higher, traders be cautious: Sukhani

Another sub-5% print likely, rate cut not before July: CLSA 

9:25 am Big gainers: Coal India , GAIL , ONGC , Hero Motocorp and Bharti Airtel are early gainers in the Sensex.

What Udayan says: Big rally not justified

After the massive rally on Monday, the market opened on a quiet note. The Sensex is up 41.40 points or 0.21% at 20072.17, and the Nifty gains 3.20 points to be at 6086.35. About 191 shares have advanced, 67 shares declined, and 36 shares are unchanged.

Asian markets were mixed in morning trade. Japanese stocks fell on Tuesday. The Nikkei stock average opened down 1.4 percent, extending Monday's 3.2 percent plunge.

On the home turf, Coal India (up 4.6 percent) is the big index mover on  March quarter earnings. Coal India has approved rationalisation of coal prices, which will fetch additional revenue of Rs 2119.36 crore for the balance period of financial year 2013-14. The yearly additional revenue would be around Rs 2511.58 crore.

In earnings to watch today, according to a CNBC-TV18 poll, Sun Pharma's revenues may surge 26 percent and the company could see a higher margin performance this quarter. However profit growth could be constrained by higher tax rates.

Havells is likely to post an improvement in sales on the back of new product launches. CNBC-TV18 poll indicates 11 percent profit growth while margins may contract by 130 bps. Given the fact that the company continues to face declining demand, profit margins in the Sylvania business and pricing pressure in Europe would be a key monitorable.

According to a CNBC-TV18 poll, Jain Irrigation's revenues are seen flat at Rs 1250 crore year-on-year. Profits are expected to decline 37 percent to Rs 108 crore. Margins are expected to be largely stable. The company is guiding for positive sales growth in Q4 and 20 percent year-on-year growth during FY14

HPCL will declare numbers from the oil marketing space. A CNBC-TV18 poll indicates over 4 percent sales growth while profits could rise 42 percent. One could expect gross refining margins of USD 3.8 per barrel versus 1.9 last quarter, this GRM uptick may be due to recovery in both diesel and gasoline cracks.

From the power finance space- REC will declare results.  A CNBC-TV18 poll expects steady set of numbers. The NII growth is likely as per previous quarters and profits could be 29 percent higher. NIMs are expected to be a little lower, but around the 5 percent record highs of Q3FY13. Asset quality is likely to be at comfortable levels despite 51 percent of its loan book being exposed towards the infra-power space especially the distribution segment.

Other companies which are expected to announce March quarter earnings are GAIL, Hindalco , Power Grid, Sun, CESC , Colgate , EIL, Godrej Industries , Jain irrigation, Parsvnath Developers , Aban Offshore , Bilcare , Bombay Dyeing , Cinemax India , Dishman Pharma , Essar Shipping , Gayatri Projects , Gitanjali Gems , Gravita India , Havells India , Hinduja Global, Indoco Remedies , Indswift Labs, Jagran, Lovable, Neyveli Lignite , Pidilite, PVR , Tata Comm, TBZ and Texmo Pipes.

The Indian rupee opened lower at 55.69 per dollar against previous close of 55.56.

Tirthankar Patnaik, Religare said, "Global cues caused the rupee to depreciate to 56/USD as the dollar strengthened due to yen depreciation. Despite high capital inflows, markets have fallen 3 percent in the last month. We maintain our 53-55/USD range for the rupee with temporary overshoots, but if yen touches 105, we could revise our range to 54-57/USD."