The Indian stock markets are expected to be range bound and volatile ahead of the RBI’s short term credit policy review due tomorrow. China, Hong Kong, Singapore, Korea and Taiwan markets are shut today because of Chinese New Year. Nikkei is trading up at 0.12%.
With Reliance Industries posing a net profit decrease by 13.6% year-on-year, markets would react a little heavily on the script. And considering Reliance to be the uno of the Indian stock markets, the opening session will definitely to be watched at. However, some experts believe that Reliance Industries will alone be not the decision maker of the market direction this morning. This is because the markets are ignoring Reliance Industries for a long time because of its lacklusture performance. Also, the Indian markets are in a short term upward trend which would continue for few more sessions.
Nomura, in its report on Reliance Communications dated January 17, 2012 said that the FCCB refinancing removes near-term concerns and has given a NEUTRAL rating on the script with a target of Rs. 90.
Kotak Institutional Equities has given some interesting calls on stocks in its research report dated Jan 23, 2012. Here are few calls from the report.
Reliance Industries - BUY with a target of Rs. 925. Buy-back program details a pleasant surprise, results not so.
ITC - ADD with a target of Rs. 230. All well, almost.
Wipro - ADD with target of Rs. 460. Good quarter and outlook
Hindustan Zinc - ADD with target of Rs. 150. In-line quarter, no ‘silver lining’ in production target.
Axis Bank - BUY with target of Rs. 1350. Few concerns addressed; capital constraints may pose an overhang.
Exide Industries - SELL with target of Rs. 100. Pick-up in inverter sales leads sequential improvement
United Spirits - BUY with target of Rs. 900 - One-offs spoil the picture.
Indian stock markets are flat for almost all throught the day. The SENSEX colosed at 16751.73 gaining 12.72 (0.08%) while the NIFTY closed at 5046.25 slipping by 2.35 (-0.05%) points. The CNX Midcap closed at 6834.20 adding 31.05 (0.46%) points while BSE Smallcap closed at 6294.01 gaining 16.74 (0.27%).
Maruti Suzuki Q3 net down 64% on lower sales, rupee decline. The script closed up 5.18% at Rs. 1160.65 gaining 5.18%.
Rupee hits 10-week high on inflows; outlook bullish
L&T eyes sales target for FY12, despite tough environment; L&T Q3 net up 18% at Rs 991 cr
Kotak Mahindra Bank Q3 net rises 21%
GAIL Q3 net up 13%, plans capex of Rs 9Kcr for FY13
January 23rd, 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
The markets closed flat today after a stellar rally yesterday. The SENSEX closed at 16451.50 down 14.55 (-0.09%) while the NIFTY closed at 4955.80 slipping 11.50 (-0.23%). Much of the damage was in midcap and smallcap stocks with the CNX Midcap closing at 6647.50 down 77.80 (-1.16%) while BSE Smallcap closed at 6195.70 down 62.75 (-1%).
It appeared that the markets have already lost stream and the short term peak was already approached. Experts however say that considering that some renewed buying interest was seen, it is too early to say that the revesal of course is on charts.
While Reliance Industries closed up, TCS which announced good numbers yesterday took a beating today. Experts believe the current stock price already is factoring its potential near-future growth and that a target of Rs. 1200 is max for the script, atleast in the next 12 months time frame.
Reliance is considering a share buyback on January 20 when it will be announcing its results. This moved the script which closed at Rs. 779.75 up 37.70 (5.08%) with a volume of 9.25m shares traded.
The Supreme Court of India Essar Oil is not eligible for sales tax benefit and that the company will have to pay sales tax to Gujarat State Government of approximately Rs 6300 cr. The script closed at 51.15 slipping 7.05 (-12.11%) with 24.8m shares traded.
Lenders may infuse USD 250 mn equity in Kingfisher Airlines. The script closed at Rs. 25.35 gaining 0.25 (1%) with a volume of 14.49m shares traded.
January 18th, 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 market movement today is making experts believe that the upside is still in tact and that Nifty would be crossing 5000. All eyes now shifted on what the Reserve Bank of India will be doing in regard to CRR in its upcoming review. With December 2011 inflation at 7.47%, experts are having mixed views on RBI’s possible stance on CRR.
SENSEX today closed at 16189.40 gaining 34.80 (0.22%) while the NIFTY closed at 4873.90 gaining 7.90 (0.16%). While the CNX Midcap closed in the red at 6647.05 losing 6.50 (-0.1%), the BSE Smallcap closed in the green marginally at 6192.03 gaining 20.28 (0.33%).
LIC is reported to have hiked its stake in Wockhardt by 1% in Oct-Dec Quarter. Wockhardt buying interest today with the script touching Rs. 350.85 gaining Rs. 14.45 (4.3%) today with a volume of 489.5k shares traded.
Cash strapped UB group plans to list W&M overseas according to sources. United Spirits shot to Rs. 632.10 today gaining Rs. 32.75 (5.46%) with a volume of 2.36m shares traded.
January 16th, 2012
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