SENSEX, NIFTY HOLD GAINS; BAJAJ AUTO, BHEL LAGGARD

DLF Q4 net may fall 29%, high interest costs to dent profit The Sensex is up 199.12 points or 0.7 percent at 27844.65 and the Nifty is up 58.90 points or 0.7 percent at 8424.55. About 1315 shares have advanced, 976 shares declined, and 171 shares are unchanged. Tata Power, SBI, TCS and HDFC twins are top gainers in the Sensex. Among the losers are Tata Steel, Bajaj Auto, Hindalco, BHEL and Tata Motors. Faced with competition from mammoth new refineries in the Middle East and soft fuel demand in key markets, Asian refiners are trying a variety of tactics to cope from investing in refineries in emerging markets to using cheaper energy sources. Less complex and older refineries in Asia, however, might be forced to cut run rates or shut, industry executives said at an energy conference.
IT shares have gained ground as the rupee depreciated against the US dollar due to appreciation of the American currency overseas riding on strong economic data. TCs and Wipro have gained over 1%.
Infosys has surged over 1%. Infosys chief executive officer Vishal Sikka, during a recent investor conference, acknowledged that other than resuming the growth curve for the company, his focus is also to get discipline and operational excellence back.
Tata Power is trading higher by 3% to Rs 78 on the NSE after the company reported a better-than-expected consolidated net profit of Rs 159 crore in the fourth quarter ended March 31, 2015 (Q4) mainly due to lower depreciation and lower coal prices.
From the financial space, ICICI Bank, HDFC Bank, SBI and HDFC have gained between 1-2%.

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