Sensex rallies 400 points, Nifty tests 8300, HUL slumps 3%; top 10 stocks in focus

NEW DELHI: The S&P BSE Sensex surged nearly 400 points in trade on Monday. The 50-share Nifty index is now testing 8300.

Markets @ 2:50

Sensex @ 27,504; up 399 points. Nifty @ 8,320; up 129 points.

Top Gainers

VEDANTA (6.0%), SBI (5.6%), HERO MOTO (4.1%), TATA STEEL (3.2%), TATA MOTORS (3.2%)

Top Losers

HUL (-3.2%), ITC (-0.6%), WIPRO (-0.3%)
3-5% uptick in indices if GST gets Rajya Sabha nod?

If the Goods and Services Tax goes through the Rajya Sabha, where the government lacks numbers, it will substantially boost market sentiments, Krishna Kumar Karwa, MD & CFO, Emkay Global Financial Services, told ET Now.

"Since it (GST) has already got approved in the Lok Sabha, there is a small expectation that hopefully, in Rajya Sabha also, the numbers will be managed and it will get approved. But still I would say that currently, the market is not discounting this event. So if this event happens, in the next two-three days, we could see a 3% to 5% further uptick in the indices," Karwa said.

India's long-term prospects sound, buy equities: JPMorgan Asset Management

Experts are optimistic about the long-term prospects of India when it comes to fundamentals, but in the short-term, China, Korea, Taiwan are the favourites. Besides, the recent declines in markets may have opened opprtunities in specific sectors.

"If you look at macroeconomic momentum, there is still a lot more positives coming up from India compared with China. The PBOC, People’s Bank of China, was forced to cut interest rates again over the weekend in order to help the economy. In the case of India, we have started to see some pickup in consumption and investment on the back of politics from last year. So overall, we remain optimistic for the long term in terms of India when it comes to fundamentals but in a short term, really China and North East Asia is winning the battle of the flows," Tai Hui of JPMorgan Asset Management said.

Sandeep Wagle, Founder & CEO, Power My Wealth, gives Buy calls on:

Dish TV - Target of Rs 81.50, stop loss at Rs 76.50

Hindalco – Target of Rs 153, stop loss at Rs 142

Markets @ 12:50

Sensex @ 27,465.11, up 359.72 points. Nifty @ 8,309.80, 118.30 points.

Top Gainers

SBI (4.4%), HINDALCO (4.2%), HERO MOTO (3.9%), VEDANTA (3.8%), TATA STEEL (3.6%)

Top Losers

HUL (-2.7%), RIL (-0.5%), WIPRO (-0.2%)

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Markets @ 1:40

Sensex 27,452.80, up 347.41 points Nifty 8,307.15, up 115.65 points

Top Gainers

Bank of Baroda: 15.7%; Vedanta Limited: 6.0%; Ultratech Cement: 5.3%

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Top Losers

HUL: 2.9%; Wipro: 0.3%; ITC LTD: 0.2%

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Markets @ 11

Sensex @ 27,456, up 351 points. Nifty @ 8,297; up 106 points. Bank of Baroda surges 13% post Q4 results.

Top Gainers

Vedanta (4.0%), HINDALCO (3.5%), HERO MOTO (3.3%), SBI (3.1%), CIL (2.8%)

Top Losers

HUL (-1.9%), BHEL (-0.2%), HDFC BANK (-0.1%)

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Here is a list of ten stocks which are in focus today:

Canara Bank and Oriental Bank of Commerce: Joining the rate-cut bandwagon, two state-owned lenders Canara Bank and Oriental Bank of Commerce cut base rates to 10 per cent, which will lead to lower EMIs for their loan consumers.

Syndicate Bank: State-owned Syndicate Bank reported a marginal 2 per cent growth in net profit to Rs 417 crore in the fourth quarter ended March 31, 2014-15.

Orient Cement Ltd: The cement maker reported an over three-fold jump in its standalone net profit at Rs 85.47 crore for the quarter ended March 2015 on higher realisation in cement prices in south India and cost optimisation.

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Allahabad Bank: State-run Allahabad Bank reported a 28.5% jump in net profit for the quarter to March 2015, riding on treasury gains.

Kansai Nerolac Ltd: Industrial paints maker Kansai Nerolac has decided to set up a manufacturing unit in Gujarat at an estimated cost of Rs 350 crore.

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SAIL: The country's largest steel maker, has charted investment of Rs 1,50,000 crore till 2025 to ramp up steel production from 24 million tonnes to 50 million tonnes.

GlaxoSmithkline (GSK) Consumer Healthcare Ltd: FMCG firm GlaxoSmithkline (GSK) Consumer Healthcare Ltd on Friday reported a 14.60 per cent increase in net profit at Rs 196.78 crore for the fourth quarter that ended on March 31, 2015.

Relaxo Footwears Ltd surged as much as 11.97 per cent in trade on Monday to touch fresh 52-week high of Rs 793 on BSE, after the board recommended dividend and issue of bonus shares in the ratio of 1:1 i.e. one share for every share held.

Federal Bank Ltd: The bank informed BSE on Monday that a meeting of the Board of Directors of the Bank will be held on May 16, 2015, to consider the issue of Bonus shares to the shareholders of the Bank, subject to the approval of the shareholders at the Annual General Meeting.