Posts filed under 'Education'
Indian markets are once again back in the red after Sensex lost 108 points in trade today. However, Sensex is relatively better than in Asian peers which closed deeper in the red today. Nikkei has shed 166 points while Hang Seng was down 596 points. European markets that opened for the Aug 5 trading are in the red with FTSE losing 121 points, CAC losing 123 points and DAX losing 214 points hinting that the US markets should be prepared for more choppy session ahead.
Indian stock market experts say warn that there will be some more bleeding in the IT sector and suggests to stay away from them. They suggest Auto and Banks to be a more comfortable place to live in for long.
Sensex closed the day at 16713 losing 108 points while Nifty closed the day at 5017 losing 22 points.
ADAG group stocks are the best gainers of the day. Reliance Infra and Reliance Capital are up 5% each. Hero Motorcorp gained 5% and has become the preferred stock from the auto sector. Jaiprakash Associates is up 4%. RCOM, Axis Bank and SAIL closed up over 3% each.
The losing end is more broad and is spread. Wipro, Cairn India, HCL Tech are down 3% each. ONGC, BPCL, Infosys, Ambuja Cements, Power Grid, Reliance, Sterlite Industries are all down 2% each.
Reliance Communications (BSE: 532712; NSE: RCOM; ISIN: INE330H01018) said that it is reorganizing its wireless business and is expecting to complete the process in 30 days time. The script closed up gaining Rs. 3.3 at Rs. 88.
Brooks Laboratories (BSE: 533543; NSE: BROOKS; ISIN: INE650L01011) that got listed on the bourses today has seen a disastrous closing. The script opened at Rs. 110, touched an intraday high and low of Rs. 131.10 and Rs. 57.75 to close at Rs. 60.20.
Market reports say that Nikhil Gandhi is likely to take over as chairman of Everonn Education (BSE: 532876; NSE: EVERONN; ISIN: INE678H01010). The company board would be meeting during this week to finalize the decision. The script was locked at 20% lower circuit at Rs. 280.55.
September 5th, 2011
The Indian stock markets missed the usual trend and has closed the day in the green despite its Asian and European peers are in the red. Sensex gained 144 points to close at 16.8k while the Nifty tested 5050 and had managed to close above the 5k mark.
Nifty toppers of the day include Reliance Comm and Rel Capital (both up over 6%), DLF (up 5%), Tata Steel and Sterlite Ind (up over 4%) and Mah and Mah, Reliance Infra and Bajaj Auto (all up over 3%) each. IDFC, HCL Tech, Tata Power and PNB are amongst the top losers.
Everonn Education (BSE: 532876; NSE: EVERONN; ISIN: INE678H01010) saw heavy selling today after news of CBI arresting its MD P Kishore and Additional Commissioner of Income Tax in Chennai, Andasu Ravindar in a bribery case.
Lupin (BSE: 500257; NSE: LUPIN; ISIN: INE326A01037) surged Rs. 19 today and the stock closed the day at Rs. 467.60. There was news that an arm of Lupin and Sanofi Aventis has signed a marketing and distribution pact.
Kotak Institutional Equities has given a SELL call for Reliance Communications with a target of Rs. 80 down from a target of Rs. 95. RCOM’s stretched balance sheet, increased debt (almost 3x from FY 2008 most of the funds of which went to the GSM roll out which is yet to give the desired results and the weak competitive positioning has lead to the deterioration of the script.
Edelweiss says that Coal India’s pricing power can offset its hurdles like wage revision and the implementation of mining tax. They feel that the environmental issues will get resolved by FY2014 which will turnaround the production capacities and hence is a good long story. The script has a target of Rs. 460. JP Morgan has put a September 2012 price target of Rs. 345 valuing the company at 7x FY13E EV/EBITDA.
September 2nd, 2011
Citing institutional selling, the Indian stock markets closed another day in the red. The Sensex is down 247.37 points at 17693.18. The Nifty lost 73 points to close the day at 5331.80.
Much of the damage was in the Auto, Bank, Capital Goods sectors followed by FMCG, Health care and IT.
Top losers of the day are Mahindra & Mahindra, Ranbaxy Labs that lost over 4% each, Reliance Capital and ITC that lost over 3% each. ITC is back below the Rs. 200 mark once again. The gainers list is led by BPCL with a gain over 3.43% in trade today followed by marginal gains in Reliance Infra, GAIL and Reliance Communications.
FII’s sold over Rs. 801.10 crores in Equities and Rs. 1,169.20 crores in the debt markets yesterday (3 Aug). MFs bought Rs. 23.40 crores and Rs. 556.90 crores in equity and debt markets respectively yesterday (3 Aug).
Educomp Solutions (BSE: 532696 | NSE: EDUCOMP | ISIN: INE216H01027) announced its Q1 numbers today. The company reported net profit of Rs. 36 crores in the first quarter of FY12. This number is unchanged compared to the corresponding quarter in the last fiscal.
August 4th, 2011