1. India-GlobalMarketSummary 22-7-2013
• Market closed flat after trading volatile. The market, which jumped in early trade,
wiped off intraday gains in late trade after weak Q1 results from engineering &
construction major L&T sent capital goods shares tumbling. The market breadth,
indicating the overall health of the market, was negative. Sensex rose 0.05% to
20,159.12 and Nifty rose 0.04% to 6,031.80. Among the 30-share Sensex pack, 19
stocks rose and rest of them fell.
• Engineering & construction major L&T tumbled over 7% after reporting weak Q1
results. Weak Q1 results from L&T had ripple effect on shares of power equipment
major Bharat Heavy Electricals (Bhel), which also fell sharply. Reliance Industries
(RIL) declined after Q1 results. Asian Paints dropped after the company reported
weak Q1 result at the fag end of the trading session. IT major TCS scaled record
high. Housing Development Finance Corporation (HDFC) edged higher after the
company reported good Q1 results on Friday, 19 July 2013. Among metal stocks,
Tata Steel hit 52-week low.
• L&T fell 7.46% after company reported weak Q1 results. The company's net profit
declined 12.46% to Rs 756.03 crore on 3.69% growth in total income to Rs
13027.66 crore in Q1 June 2013 over Q1 June 2012. L&T's order inflow jumped
28% to Rs 25159 crore in Q1 June 2013 over Q1 June 2012.

2. • Asian Paints consolidated net profit fell 4.57% to Rs 275.20 crore on 11.6% growth in income from
operations to Rs 2841.10 crore in Q1 June 2013 over Q1 June 2012.
• Wockhardt t has received a warning letter from the USFDA listing the observations made by it during its
earlier inspection of Wockhardt's Waluj facility near Aurangabad.
• Wockhardt said that the company continues to cooperate with USFDA to resolve the issues at the earliest.
• Federal Bank's net profit declined 44.49% to Rs 105.66 crore on 12.52% growth in total income to Rs
1869.05 crore in Q1 June 2013 over Q1 June 2012.
• Federal Bank's ratio of net non-performing assets (NPAs) to net advances stood at 0.91% as on 30 June
2013, as against 0.98% as on 31 March 2013 and 0.62% as on 30 June 2012.
• Bajaj Holdings & Investment rose 2.37% to Rs 793.50 at 10:18 IST after consolidated net profit surged
27% to Rs 443 crore on 93.15% growth in net sales plus other income to Rs 141 crore in Q1 June 2013 over
Q1 June 2012.
• Unichem Laboratories lost 3.18%, with the stock extending Friday's 5.61% slide on disappointing quarter
result
• Unichem Laboratories' net profit rose 8.9% to Rs 36.09 crore on 0.26% growth in total income to Rs 265.57
crore in Q1 June 2013 over Q1 June 2012.
• JK Paper lost 1.56% after net profit declined 90.2% to Rs 1.38 crore on 2.9% growth in net sales to Rs
354.66 crore in Q1 June 2013 over Q1 June 2012.
• Housing Development Finance Corporation advanced 2.77%, with the stock reversing post result slide after
reporting steady Q1 results
• Balrampur Chini Mills fell 3.95% as the stock turned ex-dividend today, 22 July 2013, for dividend of Rs 2
per share for the year ended 31 March 2013.

3. Global news
• European stocks rose for a fourth day on Monday extending a seven-week
high ahead of data on house sales in the US. Asian markets edged higher on
Monday after China removed a floor on banks' lending rates and after
Japan's ruling government regained control of the parliament's upper house,
raising hopes for further reforms in both economies. Trading in US index
futures indicated that the Dow could see a flat opening on Monday, 22 July
2013. US stocks closed mixed on Friday, 19 July 2013. The S&P 500 index
eked out gains to end at another all-time high on Friday, 19 July 2013 while
losses for the technology sector weighed on the Dow Jones Industrial
Average and the Nasdaq Composite after disappointing earnings from
Advanced Micro Devices Inc. and Microsoft Corp
• A day after his party won a resounding victory in national upper-house
elections, Japanese Prime Minister Shinzo Abe on Monday, 22 July 2013,
said that the government's top priority remains rebuilding the economy.
Calling the Liberal Democratic Party's (LDP) win "a supportive push" from
voters for his economic policies of easy money, massive government
spending and deregulatory reforms, Mr. Abe said he would continue to
implement growth policies, including tax cuts on capital investments.
• Meanwhile, the People's Bank of China removed a floor on banks' lending
rates, according to a July 19 statement. China currently caps the interest rates
that banks pay on deposits, a factor that often pushes savers toward riskier
investments in search of higher returns.

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