India Market Summary for the week ended 30-5-2014

I Review of the Week

Market review for the week ended 30 May 2014

• Market declined in the week ended Friday, 30 May 2014, on profit booking after logging gains in prior three weeks.

• The Sensex logged decline in three out of five trading sessions in the week just gone by.

• Among the 30-share Sensex pack, 19 stocks declined and rest of them gained in the week ended Friday, 30 May 2014.

• Sensex declined 1.92% to 24,217.34 and Nifty fell 1.86% to 7,229.95 for the week ended 30 May 2014.

India Market Summary for the week ended 30-5-2014

Government Policies during the week • Nil

Economic data

• Indian economy grew 4.7% in 2013/14, slower than an official estimate of 4.9% and higher than 4.5% growth a year earlier. It marks the second straight year of sub-5 % growth - the worst slowdown in more than a quarter of a century. Economic growth for the quarter to end-March came in at 4.6% from a year earlier, compared with 4.8% estimated by analysts in a Reuters poll and a revised 4.6% growth in the previous three months.

Corporate Announcements• Hindustan Unilever (up 7.07%), Dr Reddy's Laboratories (up 6.09%) and Sesa Sterlite (up 4.34) edged

higher from the Sensex pack. • HDFC (down 5.89%), Bajaj Auto (down 1.54%) and Cipla (down 0.72%) edged lower from the Sensex

pack. • Reliance Industries (RIL) fell 5.59%. RIL said that the company's board of directors has approved

funding of upto Rs 4000 crore to Independent Media Trust (IMT), of which RIL is the sole beneficiary, for acquisition of control in Network18 Media & Investments (NW18) including its subsidiary TV18 Broadcast (TV18).

• ONGC fell 7.17% .The company's net profit surged 44.3% to Rs 4889 crore on 2.3% decline in gross revenue to Rs 21403 crore in Q4 March 2014 over Q4 March 2013. ONGC's net profit rose 5.6% to Rs 22095 crore on 1.1% growth in gross revenue to Rs 84201 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

• On consolidated basis, ONGC's net profit rose 9.4% to Rs 26507 crore on 7.5% growth in turnover to Rs 178205 crore in FY 2014 over FY 2013.

• GAIL (India) dropped 11.36% .The company's net profit rose 57.24% to Rs 972.03 crore on 17.56% rise in total income to Rs 14977.89 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Monday, 26 May 2014. Net profit rose 8.78% to Rs 4375.27 crore on 20.94% rise in net sales to Rs 57245.10 crore in the year ended March 2014 over the year ended March 2013.

• Coal India shed 6.64%. The company's consolidated net profit fell 18.09% to Rs 4434.18 crore on 1.22% increase in total income to Rs 22382.35 crore in Q4 March 2014 over Q4 March 2013.

• Shares of private sector banks were mostly lower. Axis Bank (down 1.54%), ICICI Bank (down 2.89%) declined. HDFC Bank rose 0.58%. State-run State Bank of India (SBI) fell 7.74%.

Corporate Announcements• Tata Motors dropped 3.69% on weak Q4 result. The company's consolidated net profit declined 0.68% to

Rs 3918 crore on 16.6% growth in revenue (net of excise) to Rs 65317 crore in Q4 March 2014 over Q4 March 2013. Tata Motor's consolidated net profit surged 41.42% to Rs 13991 crore on 23.3% growth in revenue (net of excise) to Rs 232834 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

• Mahindra & Mahindra (M&M) rose 6.25%. The company's net profit rose 0.86% to Rs 896.88 crore on 4.92% rise in total income to Rs 11099.22 crore in Q4 March 2014 over Q4 March 2013.

• Maruti Suzuki India declined 4.83%. • Hero MotoCorp rose 0.09%. Hero MotoCorp's net profit declined 3.45% to Rs 554.43 crore on 6.31% rise

in net sales to Rs 6455.70 crore in Q4 March 2014 over Q4 March 2013. Hero MotoCorp's net profit declined 0.43% to Rs 2109.08 crore on 6.54% rise in net sales to Rs 25124.91 crore in the year ended March 2014 over the year ended March 2013.

• L&T rose 2.46%. The company said it has received two engineering, procurement and construction (EPC) orders valued at around $480 million for setting up dual fuel fired gas based combined cycle power plants in Bangladesh. Separately, company said that its construction division has won new orders worth Rs 2458 crore across various business segments this month.

• Bharat Heavy Electricals' (Bhel) lost 11.12%. The company's net profit fell 43.02% to Rs 1844.59 crore on 21.42% fall in total income to Rs 15320.38 crore in Q4 March 2014 over Q4 March 2013. On a consolidated basis, Bhel's net profit fell 47.66% to Rs 3502.86 crore on 17.68% fall in total income to Rs 41192.43 crore in the year ended 31 March 2014 over the year ended 31 March 2013.

• Bhel said that consequent to merger of Bharat Heavy Plates & Vessels (BHPV) with the company with effect from 30 August 2013, the financial results of HPVP unit (erstwhile BHPV) have been included in the above results. In view of this, figures for the current reporting period are not comparable with the figures in corresponding period of previous year.

India Market Summary for the week ended 30-5-2014

Corporate Announcements• Tata Power Company shed 1.79% . The company reported a consolidated net loss of Rs

145.33 crore in Q4 March 2014 compared with consolidated net profit of Rs 181.36 crore in Q4 March 2013. Total income fell 1.92% to Rs 8897.56 crore in Q4 March 2014 over Q4 March 2013. The result was announced after market hours on Thursday, 29 May 2014.

• Tata Power Company posted a net loss of Rs 259.97 crore in the year ended 31 March 2014 (FY 2014), higher than net loss of Rs 85.43 crore in the year ended 31 March 2013 (FY 2013) mainly due to foreign exchange losses. Total income rose 5.66% to Rs 35086.84 crore in FY 2014 over FY 2013.

• Hindalco Industries slipped 2.89%. The company's net profit fell 48.51% to Rs 248.15 crore on 19.68% rise in total income to Rs 8647.53 crore in Q4 March 2014 over Q4 March 2013.

• Infosys slumped 4.07%. The company announced the resignation of its President and Member of the Board B. G. Srinivas. The resignation of Srinivas is effective 10 June 2014, Infosys said in a statement.

• Infosys said that Al Hilal Bank, one of the fastest growing banks in the UAE has successfully implemented the award winning Infosys Finacle e-banking solution.

• Pharmaceutical Industries Sun Pharma rose 3.88%. The company's consolidated net profit jumped 57% to Rs 1587 crore on 32% increase in net sales/income from operations to Rs 4044 crore in Q4 March 2014 over Q4 March 2013.

• Cipla shed 0.72%. The company's consolidated net profit declined 6% to Rs 261 crore on 27% growth in sales to Rs 2429 crore in Q4 March 2014 over Q4 March 2013.

India Market Summary for the week ended 30-5-2014

Top Gainers and Losers of the week (NSE)

COMPANY PRICE ON PRICE ON CHANGE

May 30, 2014 (Rs)

May 23, 2014 (Rs) (%)

TECH MAHINDRA 1,923.00 1,786.35 7.60%HIND. UNILEVER 603.35 561.5 7.50%DR. REDDYS LAB 2,460.65 2,308.70 6.60%M&M 1,235.50 1,159.30 6.60%GRASIM IND. 3,179.25 3,001.35 5.90%

COMPANY PRICE ON PRICE ON CHANGE

May 30, 2014 (Rs)

May 23, 2014 (Rs) (%)

IDFC LIMITED 126.3 143.25 -11.80%BANK OF BARODA 842.65 954.5 -11.70%GAIL 377.8 425.4 -11.20%BHEL 242.2 272.15 -11.00%PNB 943.8 1,037.85 -9.10%

India Market Summary for the week ended 30-5-2014

II Forth coming week

Government policies / announcements• The RBI undertakes a monetary policy review on Tuesday, 3 June 2014

Economic data • Markit Economics will unveil HSBC India Manufacturing PMI, which

gauges the business activity of India's factories, for May 2014 on Monday, 2 June 2014.

• Shares of automobile companies will be in focus as auto companies start unveiling monthly sales volume data for May 2014 from Sunday, 1 June 2014

India Market Summary for the week ended 30-5-2014

Market outlook

• The outcome of the Reserve Bank of India's (RBI) monetary policy review and the result of the monthly surveys on India's manufacturing and services sector for May 2014 will dictate the trend on the bourses next week.

• Indian stocks will on Monday, 2 June 2014, react to data on India's GDP growth for Q4 March 2014 which will be released by the government after trading hours on Friday, 30 May 2014.

• GDP growth slowed sharply at 4.7% in Q3 December 2013. • With Q4 March 2014 earnings season over, macroeconomic data,

trend in investment by foreign institutional investors, trend in global markets, trend in other global emerging markets, the movement of rupee against the dollar and crude oil price movement will dictate trend on the Indian bourses over near and medium term.

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