Posts filed under 'IT & ITes'
The Indian stock markets had yet another stellar rally today after the markets decided that Nifty extend its stay at the critical 5200 region. The SENSEX closed at 17300.58 gaining 107.03 (0.62%) while the NIFTY reaffirmed its position and closed at 5235.70 gaining 36.45 (0.70%) points. With this, the immediate pull back is ruled out unless 5300 or even may be 5400 is touched, atleast as per technical charts.
The CNX Midcap closed at 7188.40 gaining 87.85 (1.24%) and the BSE Smallcap ended at 6573.58 adding 110.28 (1.71%) points in trade today. Some experts say that much better longs are building in the midcap space now and that this is the reason for the longer stay of the markets in the stable region.
Of course, not all credit is to the Indian markets. The global economy in general is stable with no specific negative news. The Europe supported well and so did US markets. In fact, this is one of the strong reason why the Indian market closed in the positive. There is indeed volatility in our markets but the actual conquering and cementing its stay in the positive territory was made possible for the Indian markets only after the European markets have opened.
Mahindra Satyam announced good set of Q3 numbers. CP Gurnani gave the credit to BFSI projects and the rupee depreciation helped. The results came out after the markets have closed. Hence, we can expect some positive move in the script tomorrow.
Auto sales numbers have come and they appear to be good. Except for the decline in the tractor numbers of M&M, the sales figures of Tata Motors and Maruti are nice.
The Economic Times was reporting that Core Projects leads race to acquire Aptech. Aptech closed at Rs. 90.45 gaining 2.80 (3.19%) with a volume of 40.65k shares traded.
Carlyle sold 2 cr shares of HDFC at Rs 677/share on the BSE. HDFC was under pressure today and closed at Rs. 688.90 down Rs. 8.95 (-1.28%) with a volume of 4.96m shares traded.
February 1st, 2012
Experts believe the rally in the markets in the last few trading sessions is sustainable for even more sessions and that the longs are still holdable.
SENSEX closed at 16643.74 gaining 192.27 (1.17%). NIFTY closed at 5018.40 gaining 62.60 (1.26%). CNX Midcap closed at 6746.05 gaining 98.55 (1.48%). BSE Smallcap closed at 6272.23 gaining 76.53 (1.24%).
Kirloskar Oil will consider buy back of its shares when it announces its quarterly results on January 25, 2012. The stock jumped upward on the news but cooled off a little as the day progressed. The script closed at Rs. 143.75 gaining 8.80 (6.52%) with a volume of 44.25k shares traded.
An arm of Reliance Industries bought 1.14% stake in Den Networks according to an ET report. Den Networks script jumped at closed at Rs. 70.05 gaining 6.35 (9.97%) amidst a volume of 341.16k shares traded.
Bank of America Merrill Lynch in its company update report on TCS dated January 16, 2012 has given a BUY call on the script. The target price for TCS is Rs. 1330. The post in-line balanced 3Q and encouraging hiring has led to the BUY call.
All eyes are now on the Reliance Industries quarterly numbers that will be released tomorrow.
January 19th, 2012
Positive sentiment in the global markets, particularly because of the good numbers from the Chinese markets and news that there is fresh inflow of foreign money invested in Indian markets has made stocks to have a run today.
The SENSEX was comfortable in jumping having ticked 16466.00 point by closing time today adding 276.60 points (1.71%). NIFTY is more close to the 5k mark after it closed at 4967.30 points today, adding 93.40 (1.92%) in session today. The CNX Midcap closed at 6725.30 gaining 78.25 (1.18%) while BSE Smallcap ticked 6258.45 gaining 66.42 (1.07%).
While the overall market sentiment is positive, those stocks which brought in some piece of positive news have jumped even more.
Maruti Suzuki for instance said that it raised prices of most vehicle models by Rs 2,400-17,000 due to high input costs & currency. And the script zoomed a whopping 10% in a single day! The script closed at Rs. 1109.95 gaining Rs. 105.30 (10.48%).
HCL Tech announced its numbers today. Its Q2 cons net went up 15.4% to Rs 573 cr and revenues rose 13% to Rs 5245 cr QoQ. The script closed at Rs. 425.40 jumping up Rs. 19.45 (4.79%) with a volume of 4.79m shares traded.
Positive sentiment continued in PSU counters, particular in SBI. SBI said it will get Rs 6,000-8,000 cr capital infusion by March. The stock closed at Rs. 1844.00 gaining Rs. 27.60 (1.52%) amidst a volume of 2.27m shares traded.
January 17th, 2012
The 2011-12 Quarter 2 results announcement season has begun today with Infosys announcing its Q2 results today. The Net profit stood at Rs 1906 cr. This translates to about 10.7% rise in profits.
Infosys had a bad session yesterday with the stock dipping 3.17% or Rs. 82.10 to close at 2509.20. Uncertainty of the business from the US and Euro-region is the reason for the IT stocks to be in a skeptical phase. On the other side, the weak Indian Rupee is fueling gains for export oriented companies, particularly the IT, ITES and Pharma sectors.
Prabhudas Lilladher, in its report dated October 12, 2011, says Infosys has beaten the expectations and retains the BUY call. It gave the stock a target of Rs. 3000, an upside of 19.8%. They recommend switch from TCS to Infosys due to lower exposure in Europe and Capital Market.
Microsec has given a BUY call with a target of Rs. 3066
Kotak Securities Private Clients Research, in its report dated Oct 13, 2011 has given a BUY call and gave a target of Rs. 2993. Kotak Institutional Equities has given a target of Rs. 3000.
Bank of America Merrill Lynch feels that Infy was inline in its Q2 and cheered the market by maintaining FY12 revenue guidance on constant currency basis. They have given a BUY call with a target of Rs. 3000.
Nomura has given a BUY call with a target of Rs. 3100.
October 12th, 2011
Closing prices as of 11 Oct 2011
SENSEX 16536.47 -20.76 (-0.13%) NIFTY 4974.35 -5.25 (-0.11%) CNX Midcap 6997.75 10.85 (0.16%) BSE Smallcap 6802.09 15.13 (0.22%).
Top gainers: Tata Motors, NTPC, Sesa Goa, SAIL, Sun Pharma, Bharti Airtel (up over 3% each), Hindalco, Jindal Steel and PNB (up over 2% each)
Top losers: Infosys (down over 3%), HCL Tech, TCS, ONGC and Wipro (down over 2% each)
Trouble at Maruti’s Manesar plant continues with the strike entering into the 5th day. The strike by workers at Suzuki Powertrain India (SPIL) and Suzuki Motorcycle India in support of their colleagues at Maruti’s Manesar plant also continued becoming to appear like a nightmare for Maruti. Maruti Suzuki India (BSE: 532500; NSE: MARUTI; ISIN: INE585B01010) closed marginally in the green at Rs. 1074.75 up Rs. 1.55 (0.14%).
Tata Coffee (BSE: 532301; NSE: TATACOFFEE; ISIN: INE493A01019) which zoomed 10+% yesterday after news of JV with Starbucks to open coffee outlets cooled off a little bit today. The script ended at Rs. 888.20 down Rs. 2.15 (-0.24%) on the BSE.
A small union of Dhanlaxmi Bank, AIBOC Kerala State Union is holding a dharna against Dhanlaxmi Bank. The Union says the bank is playing risky with public money invested in the bank. Dhanlaxmi Bank stock shaked a bit and tested the 52-week low but later cooled when the management came out and said that all is well with the bank. The script closed at Rs. 64.60 losing Rs. 6.90 (-9.65%) amidst a volume of 36.71m shares.
Infosys (BSE: 500209; NSE: INFY; ISIN: INE009A01021) was under pressure today ahead of its quarterly results announcement tomorrow. Kotak earlier said it feels the Infosys Management would give a downward revision of its $ revenue targets considering the situation in the west. Infosys is down Rs. 82.10 or 3.17% and closed at Rs. 2509.20.
October 11th, 2011
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