Posts filed under 'Telecom'
The Indian markets continued to hold the 5200 mark of the Nifty. The markets however are choppy. With the Supreme Court giving its verdict cancelling 122 telecom licenses, telecom and banking stocks have got a shocker. However, Idea and Bharti stocks took it as a positive.
Post-noon, the markets had an upward run to close the day in the green.
SENSEX closed at 17431.85 gaining 131.27 (0.76%) points while the NIFTY appears to be now heading towards the 5400 mark. It closed at 5269.90 gaining 34.20 (0.65%) yesterday.
CNX Midcap closed at 7225.90 gaining 37.50 (0.52%) while the BSE Smallcap closed at 6608.97 gaining 35.39 (0.54%).
February 2nd, 2012
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
The weak global market, particularly the possible downgrade of US and the usual European economy worries have a toll on the Indian stock markets today. The Sensex has once again come below the 18k mark.
The Sensex closed the day at 17940.55 losing 169.34 points or 0.94% in todays trade. Nifty managed to close the day at 5404.80. The CNX Midcap closed the day at 7884.65 while the BSE Smallcap index closed at 8109.39. The markets had a huge gap down opening but have managed to recover some lost ground but it wasn’t enough supported even after the European markets opened their trading day. Earlier, almost all Asia Pacific markets closed or ware trading in the red.
SAIL that took some beating after the poor quarterly numbers seems to have managed to come back to the Rs. 121 mark. The script closed today at 121.75. Other gainers Reliance Infra, Sesa Goa, BPCL and Tata Power are other gainers of the day. L&T seemed to be the most beaten down stock after it witnessed selling pressure. The script closed the day at 1660.65 losing 4.23% in trade today. Other leading losers include Tata Motors, Axis Bank, Bajaj Auto and DLF amongst others.
Sans FMCG and PSE, all sectorial indices on the NSE closed the day in the red. CNX Infra and CNX Pharma are the top sectoral losers on the NSE.
Bharti Airtel (BSE: 532454; NSE: BHARTIARTL; ISIN: INE397D01024) reported its quarterly numbers today. Its net profit is down 13% at Rs. 1215 and was much in line with what markets are expecting. The stock closed the day at Rs. 426.75 down 1.23%. Market experts feel the script can see some good upside and are suggesting a Buy with a target of Rs. 500.
August 3rd, 2011
Thanks to the second bailout package approval for Greece, there is positive news in the equity markets round the world. It all started yesterday evening with the European and the US markets ending in the green. The positive feeling continued in the Australian and the Asian markets and India joined the group with a positive close at the end of the trading session.
The Sensex closed the day up 286 points at 18722.30. The Nifty closed the day at 5633.95 up 92.35 points.
Bharti Airtel announced today that it is increasing the prices of its on-net calls across four circles in Delhi, Andhra Pradesh, and Rajasthan. Airtel is a strong leader in these circles and this would translate to some positive inflows. This pushed the stock upward with the script having opened at 398, touched an intraday high of 412.80 to finally close at 410.95 on the BSE. This translates to around 4.06% upward change in the share price which is great news, particularly from the bleeding telecom sector.
Axis Bank announced its quarterly results today which came out to be in positive and the markets took the opportunity to react to it in positive. The script was flat till post lunch after which it zoomed to reach to Rs. 1296.95.The stock gained Rs. 57.55 in today’s session and is up 4.65%.
July 22nd, 2011
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