Friday, January 16, 2009

Market Watch: Frontline stocks firm; Tier II, III lose momentum....

Key indices firmed up gains in afternoon trade on sustained buying in energy, power and PSU stocks. However, second line stocks pared most of their early gains. Investors shied away from midcap and smallcap stocks.

Brokerages remain positive on Tata Consultancy Services (TCS), despite net profit for the third quarter falling below market expectations, citing cheaper valuations compared to its larger industry peers and relatively higher visibility in earnings.


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