Posts filed under 'IT & ITes'
The Indian stock markets managed to close the day marginally low compared to the choppy sessions witnessed in the US and the Asian markets yesterday.
The Dow Jones and Nasdaq have lost 634 and 174 points respectively yesterday night and the stock in the Asian stock markets isn’t that different. The Hang Seng lost 1159 points today making it the biggest global loser today. The index is now below the 20k levels and closed at 19330. The Straits Times and Nikkei 225 too have lost a little ground. Taiwan Index, KOSPI and Shangai Composite are relative better placed though they too closed in the red.
The Indian stock markets got a bit of relief from further downfall, thanks largely to the European markets that have witnessed some signs of hope. The FTSE and CAC are in the green after many chooppy sessions by the time the Indian markets have closed. Experts believe the markets have factored all the negative points and are now waiting for the FOMC meeting and take a direction based on its outcome.
The SENSEX closed at 16857.91 cutting its losses to 132.27 (-0.78%). The NIFTY closed at 5072.85 down 45.65 (-0.89%). The CNX Midcap closed at 7509.95 down 83.90 (-1.1%) while the BSE Smallcap is at 7484.57 by closing tme down 156.51 (-2.05%).
CNX IT, CNX Pharma are the two largest sectoral loser on the NSE today. Both have shed 3.5% and 3% respectively. The FMCG index is the only sectoral index to have closed in the green on the NSE today.
Top losers of the day again came from the ADAG pack. Reliance Power, Reliance Infra are down over 6% each. Reliance Communications is back at Rs. 83 levels and is down 5% today.Tata Steel and Dr Reddy lost over 4%. Tata Steel was back at Rs. 486 questioning if this is the right level to enter into the script again for medium to long term gains.
The gainers pack was led by M&M as the script tested the Rs. 700 mark. It closed at Rs. 699.80 up 4.72%. Ambuja Cements is again testing the Rs. 130 levels and is up 3.28% today. Other gainers include DLF, Grasim, JP Associate amongst others.
Mahindra Satyam (BSE: 500376; NSE: SATYAMCOMP; ISIN: INE275A01028) announced its Q1 numbers today. Its PAT is at Rs. 225 Crores. Margin at 14.6% up 168 bps, from 13.0% in Q4 FY11. Total headcount at 31,438 as of June 30, 2011, a net addition of 2,172 for the quarter. Satyam that closed the previous day at 74.30 opened the day at 70.10, touched an intra-day high of Rs. 73.85 and closed at 71.1.
August 9th, 2011
Selling in the Indian stock markets continued for the third day ever since the RBI announced a 50 basis points hike and the weak global environment. The BSE Sensex opened lowered and continued to be battered in its every small attempt to recover. The Sensex closed the day at 18209.52 down 222.73 points. Metal and Realty continued to be the sectors causing the damage followed by Oil & Gas, IT and Banks. The Nifty closed the day at 5487.75 losing 59.05 points or 1.06% in trade today.
Top Nifty losers of the day include Reliance Infra, JP Associates, IDFC, Reliance Capital, Jindal Steel amongst others. The gainers pack include ITC, ACC, Ranbaxy, Grasim and Ambuja Cements. The gaining stocks are largely because of positive quarterly numbers announced by them today.
ITC (NSE Symbol: ITC; ISIN: INE154A01025; Industry: CIGARETTES) opened the day at 198.35, has hit intraday high of 207 and low of 198.35 to close the day at 206.50 up 5.60 or 2.79%. The company has beat street expectations with its net up 24% at Rs. 1330 crores.
HUL too joined ITC in reporting some good numbers. HUL announced its Q1 net is up by 18% YoY.
Bharatiya Global Infomedia Ltd (Scrip ID: BGLOBAL, Scrip Code: 533499) had a disastrous listing today. The script opened at 84 and quickly began losing ground only to close at 27.15. There are over 11 lakh shares in the selling queue at the closing time. The market might have been feeling that the pricing is rather a very high compared to its peer, Bartronic India Ltd, which is also in a similar business.
July 28th, 2011
The Information Technology has seen many ups and downs which are mostly to do with the global economic conditions and the reduced sending of the US corporate. But with things getting better and the large-cap IT stocks having already started to see a rebound, it will be a good time to take a look at the midcap IT section too. And needless to say, Mindtree (BOM:532819)(NSE: MINDTREE)(ISIN Code: INE018I01017) is one of the most favorite amongst Indian midcap IT stocks.
Analysts feel that the calendar year 2010 will see IT spending to gain momentum and Mindtree appears to be well placed to make the best of the situation. Its recent deal wins, one from a large US financial institution and another from a global FMCG giant, are an example as to how swiftly Mindtree gets projects. Improvements in bottom line and operating leverage are expected to help the company to report better profits going forward.
On the BSE, Midtree is currently trading at 636.00 levels. Its 52-week high is at 663.00 (November 18, 2009) and 52-week low is at 187.10 (March 13, 2009). Analysts feel the script can be targeted for Rs. 700.
November 20th, 2009
Friday, September 12, 2008 10:52:44 AM IST
The markets are having yet another opening in the red. NSE Nifty is trading at 4265 levels while BSE Sensex is down by 135-odd points and is trading at 14188 levels.
CNX IT is down 2.97% after the recent volatility in the currency rates. Bank Nifty is down 1.2%. CNX 100 is down 0.59% while CNX 500 is down 0.55%
Top Nifty gainers so far include Maruti, National Aluminium, SAIL, M&M, ITC, ONGC, Power Grid, BHEL, Ambuja Cement and Tata Steel. Top Nifty losers include Infosys (down over 5.3%), Satyam, Bharti Airtel (both down over 3%), DLF, TCS, ICICI Bank (all down over 3%), Wipro, HCL Tech, SBI and Grasim (all down over 1.5%).
BSE Midcap and Smallcap indices are marginally in the red. IT, Realty, Bankex sectoral indices are in the red.
Infosys opened the day at 1753.00 and saw a high of 1753.00 and low of 1647.00 today and is trading at 1657.00. The script closed at 1750.65 yesterday on the Nifty.
Infosys stock is under pressure after a US agency was reporting that Infosys US Dollar reported numbers would require a review after the US Dollar appreciated over European currencies such as the Pound and Euro. Infosys CFO is on a leading business television channel saying that they might have an impact but might not warrant a review at the middle of the quarter and said that the reports are speculative. Infosys has about 28 - 30% of its revenues from non-USD currencies and because of the sudden appreciation of the USD over European and other Asian countries, export service incentive industries having a global presence such as the IT and Pharama are caught into a tangle of currency fluctuations.
1 U.S. dollar = 45.4607 Indian Rupees
1 U.S. dollar = 106.5757 Japanese Yens
1 U.S. dollar = 0.7174 Euros
1 Ounce Gold = $751.80
1 Barrel Crude Oil = $101.36
September 12th, 2008
Friday, September 05, 2008 4:29:42 PM IST
Not much to cheer about, the markets took yet another dull day today. Nifty closed at 4352 down 2.15% while Sensex lost 415 points to close at 14483.83 down 2.79%
Realty stocks are once again hit hard. The BSE Realty index is down 4.17% with Akruti City (down 6%), DLF (down 5.4%), Unitech (down 4.7%), Mahindra Life, India Bulls Real Estate and HDIL (all down over 3%) being the big names in the index that are hit hard today. 7 of the 9 scripts in the index declined today.
Despite some cheer in the USD-INR during mid day, forex did not cheer any IT scripts today. The 11 stock BSE IT had 9 declines today. Aptech (down 5.8%), Infosys, Moser Ber, Wipro, Rolta (all down over 4%), Satyam (down over 3%) all closed the day in the red.
There are not many large cap gainers today. However, BPCL topped the charts and closed the day up 8.57%. Hindustan Unileaver is up 1.85% while ITC and ONGC closed the day marginally in the green.
1 U.S. dollar = 44.2243 Indian Rupees
1 U.S. dollar = 106.1345 Japanese Yens
1 U.S. dollar = 0.7026 Euros
1 Ounce Gold = $795.00
1 Barrel Crude Oil = $106.38
September 5th, 2008
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