1. India-GlobalMarketSummary 14-11-2014
• Intraday volatility continued as market trimmed gains in mid-afternoon trade. The market
breadth indicating the overall health of the market was positive. Global crude oil prices
extended yesterday's steep slide. Indian government's decision last month to decontrol diesel
prices and a sharp decline in global crude oil prices recently would reduce the government's
fuel subsidy burden and help contain its fiscal deficit. The steep slide in global crude oil prices
will also help India in containing its current account deficit and fuel price inflation. India
imports 80% of its crude oil requirement. Nifty rose 0.38% to 8389.90 and Sensex rose 0.38%
to 28046.66
• IT stocks edged higher on weak rupee. State Bank of India (SBI) edged higher in volatile trade
after announcing strong Q2 results. DLF advanced after decent Q2 numbers. Tata Power
Company declined after reverse turnaround in Q2. In the foreign exchange market, the rupee
edged lower against the dollar.Brent crude futures edged lower amid concerns over excess
supply.
• The government yesterday, 13 November 2014, announced increase in excise duty on petrol
and diesel by Rs 1.50 per litre each.
• The annual rate of inflation based on wholesale price index (WPI) eased to 1.77% in October
from 2.38% in September 2014, data released from the government today, 14 November 2014,
showed. Meanwhile, the rate of WPI inflation for August 2014 was revised upwards to 3.85%
from 3.74% reported earlier.
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2. • State Bank of India rose 1.95% after the company reported strong Q2 September 2014 results during trading hours today, 14
November 2014
• CESC rose 3.96% after net profit rose 12.28% to Rs 192 crore on 1.15% increase in total income to Rs 1678 crore in Q2
September 2014 over Q2 September 2013
• Hindustan Copper declined 1.61% after the company reported 72.24% drop in net profit to Rs 17.21 crore on 33.2% fall in
total income to Rs 237.62 crore in Q2 September 2014 over Q2 September 2013.
• Bharat Heavy Electricals dropped 1.88% after the company reported 72.61% fall in net profit to Rs 124.84 crore on 33.13%
fall in total income to Rs 6340.14 crore in Q2 September 2014 over Q2 September 2013
• United Spirits rose 0.92% after the company reported a net loss of Rs 27.83 crore in Q2 September 2014 compared with net
profit of Rs 94.27 crore in Q2 September 2013.
• Shipping Corporation of India rose 2.75% after the company reported net profit of Rs 18.59 crore in Q2 September 2014
compared with net loss of Rs 123.53 crore in Q2 September 2013.
• Gujarat Gas Company declined 1.27% after the company said its consolidated net profit fell 35.13% to Rs 77.25 crore on
17.01% decline in total income to Rs 699.11 crore in Q2 September 2014 over Q2 September 2013.
• Housing Development and Infrastructure rose 1.27 after consolidated net profit rose 35.53% to Rs 57.87 crore on 31.33%
decline in total income to Rs 304.84 crore in Q2 September 2014 over Q2 September 2013
• Sun Pharmaceutical Industries reported 15% rise in consolidated net profit to Rs 1572 crore on 13% rise in net sales/income
from operations to Rs 4751 crore in Q2 September 2014 over Q2 September 2013.
• Tata Power Company reported net loss of Rs 78 crore in Q2 September 2014, compared with net profit of Rs 75 crore in Q2
September 2013.
• Cipla's consolidated net profit declined 16.58% to Rs 298.68 crore on 7.06% growth in total incomet to Rs 2790.59 crore in
Q2 September 2014 over Q2 September 2013.
• DLF's consolidated net profit rose 9% to Rs 109.06 crore on 4% decline in total income to Rs 2135.59 crore in Q2 September
2014 over Q2 September 2013.
• Steel Authority of India's net profit declined 44.97% to Rs 649.49 crore on 1.3% growth in total income to Rs 11840.64 crore
in Q2 September 2014 over Q2 September 2013.
• Tata Motors said that the Group global wholesales in October 2014, including Jaguar Land Rover, were 82,026 units. Global
wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in October 2014 were 32,049 units.
• Infosys said that media reports indicating that the company is in race to acquire Airbus unit CIMPA are speculative.

3. Global news
• European stocks edged higher today, 14 November 2014, after latest data showed Germany and France returned to growth
in the third quarter, signaling that a slow recovery has taken hold in the region. Asian stocks were mixed today, 14
November 2014. Trading in US index futures indicated that the Dow could gain 21 points at the opening bell today 14
November 2014. US stocks eked out small gains yesterday, 13 November 2014. The Dow Jones Industrial Average
gyrated between gains and losses, but ended the session at a fresh record high -- recording its 25th record closing high this
year.
• German gross domestic product rose 0.1% in the three month through September after shrinking a revised 0.1% in the
second quarter, the Federal Statistics Office in Wiesbaden said today, 14 November 2014. The French economy grew
0.3% after contracting 0.1% in the April-June period.
• According to survey of economic forecasters released yesterday, 13 November 2014, by the European Central Bank
(ECB), inflation in the eurozone is expected to remain super low for the remainder of this year and accelerate only
gradually in the next two years, according to a survey of economic forecasters. According to the quarterly survey,
consumer prices are expected to grow just 0.5% this year, down from the August forecast of a 0.7% rise. Next year, the
inflation rate is expected to come in at 1% followed by 1.4% in 2016. These rates are far below the ECB's inflation target
of just below 2% over the medium term. Over a longer five-year horizon, the inflation rate is expected to be closer to the
ECB's objective, at 1.8%. That compares with a 1.9% rate forecast in the previous survey.
• Forecasters surveyed by the ECB also marked down their projections for economic growth over the next two years.
Economists expect gross domestic product growth of 0.8% this year, down from 1% in the August round of forecasts.
GDP is expected to expand 1.2% next year and 1.5% in 2016, which were also below the August projections.
• China's industrial output growth in October unexpectedly dropped, reflecting the continued headwinds faced by the
Chinese economy, official data showed yesterday 13 November 2014.
• In US, more workers quit their jobs in September as hires reached their highest level in nearly seven years, the Labor
Department said yesterday, 13 November 2014. Hires increased to a seasonally adjusted 5 million, a level last seen in
December 2007. Quits rose to a seasonally adjusted 2.8 million in September from 2.5 million in the previous month, data
showed.
• Federal Reserve Chair Janet Yellen yesterday, 13 November 2014, said that the growing globalization of financial
markets requires the Federal Reserve to understand how economic developments in other nations may affect the US
economy. Yellen said the Fed needs better insights into things such as global capital flows to achieve its domestic
objectives of maximum employment and price stability. Yellen's remarks came at the start of a two-day conference
sponsored by the Fed, the European Central Bank and the Federal Reserve Bank of New York
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