Market Outlook: Indian markets will have flat to positive opening today. Nifty has major supports at 4000-4040 and resistances are at 4180-4200. A pull back to resistance levels is expected. Over outlook for the markets today is that of caution as the weekend factor and overseas cues may curb buying enthusiasm.
Infosys Q1 results meet Rupee guidance: Infosys Technologies Ltd, India's No. 2 software services exporter, reported a 17.2 percent rise in quarterly profit, beating market expectations, as it boosted sales in newer markets. Infosys Q1 profit at 1, 527 cr vs 1,613 cr (QoQ) | Sales at 5,472 cr vs 5,635 cr | Operating profit at 1,668 cr | Sales from telecom 992 cr
Nifty Outlook: Pivot Point: 4078
R1: 4117, R2: 4153, R3: 4192
S1: 4042, S2: 4003, S3: 3967
Results today: Infosys, Infomedia India, UTV Software, Shiv-Vani Oil, Rei Agro, Spanco
Indian ADRs: Infosys up 1%, Satyam up 10%, Tata Motors up 4%, HDFC Bank up 2%
Wall Street ends flat amid choppy trade & Asian markets trading lower; Hang Seng down. The Wall Street ended a choppy Thursday trade largely flat. Stocks made modest gains following Alcoa's better than estimated earnings, disappointing retail sales data, and a mixed weekly jobless claims report. The CBOE volatility index which dropped back below 30, finishing at 29.78. On the economic front, the latest initial jobless claims fell more than expected to 565,000. It was the first time since January that initial claims came in below 600,000. However, the market response remained muted since the claims took place ahead of a holiday. The Dow Jones was up 4.76 points, or 0.1%, to 8,183.17. The S&P 500 index rose 3.12 points, or 0.4%, to 882.68, while the NASDAQ Composite Index gained 5.38 points, or 0.3%, to 1,752.55.
Stocks in action for the day: Mah Satyam, HCC, Bajaj Hind, HDIL, Praj
June 1-July 8 rainfall at 151 mm, 36% below normal: NW18
SEBI favours 25% public shareholding in all listed companies -Norms may fix annual hike in public shareholding -10% equity dilution for IPO over Rs 100 crore may be scrapped
Tata Motors: Exclusive: -Vendors to be reimbursed after Nano production starts
-Vendors to be reimbursed over 4 years
Praj Q1 Standalone YoY: -Sales down 18.3% at Rs 126.42 crore versus Rs 154.76 crore -OPM up 264 bps at Rs 21.89% versus 19.25% -Net Profit up 2.34% at Rs 25.33 crore versus Rs 24.75 crore -EPS at Rs 1.38 versus Rs 1.34 -Exchange Gain of Rs 3.79 crore versus loss Rs 7.6 crore -Other Income at Rs 11.61 crore versus Rs 1.95 crore ((Reversal of provision of doubtful debt))
Board meets: -Anant Raj on allotment of 2 crore convertible warrants to promoters -Rishabhdev Technocable on fund raising
RIL-RNRL: Govt to take call on its counsel by July 14
Mahindra Satyam gets 5-year multi-million dollar SAP contract from GSK
HCC bags Rs 387.5 crore order for power plant in Bhutan
Mint Exclusive: Kingfisher Airlines clears Rs 50 crore of dues to AAI (Airports
uthority of India): Sources
Zenotech Labs open offer starts on July 15, closes on August 3
Madras Cements to go for captive thermal plants with investment of Rs 280 crore
Bajaj to launch 100 cc bike on July 27
Wockhardt says CDR (corporate debt restructuring) package approved by empowered group on June 30
Eicher June truck, bus sales down 23.9% at 2,036 units (YoY)
Aegis Logistics board approves buy back up to Rs 143/sh ((CMP Rs 122))
Era Infra board meet on July 13 on QIP issue, increase in FII investment limit from 40% to 65%
Bajaj Hindusthan still in NSE F&O curb
7.03 crore HDIL shares to hit the market ((QIP issue))
3.54 crore Bajaj Hindusthan shares to hit the market ((QIP issue))
Ex-event: Shaw Wallace ((amalgamation with United Spirits))
ICICI Ventures fund raising plans hit roadblocks post recent changes on company’s top management
Infosys Q1 results meet Rupee guidance: Infosys Technologies Ltd, India's No. 2 software services exporter, reported a 17.2 percent rise in quarterly profit, beating market expectations, as it boosted sales in newer markets. Infosys Q1 profit at 1, 527 cr vs 1,613 cr (QoQ) | Sales at 5,472 cr vs 5,635 cr | Operating profit at 1,668 cr | Sales from telecom 992 cr
Nifty Outlook: Pivot Point: 4078
R1: 4117, R2: 4153, R3: 4192
S1: 4042, S2: 4003, S3: 3967
Results today: Infosys, Infomedia India, UTV Software, Shiv-Vani Oil, Rei Agro, Spanco
Indian ADRs: Infosys up 1%, Satyam up 10%, Tata Motors up 4%, HDFC Bank up 2%
Wall Street ends flat amid choppy trade & Asian markets trading lower; Hang Seng down. The Wall Street ended a choppy Thursday trade largely flat. Stocks made modest gains following Alcoa's better than estimated earnings, disappointing retail sales data, and a mixed weekly jobless claims report. The CBOE volatility index which dropped back below 30, finishing at 29.78. On the economic front, the latest initial jobless claims fell more than expected to 565,000. It was the first time since January that initial claims came in below 600,000. However, the market response remained muted since the claims took place ahead of a holiday. The Dow Jones was up 4.76 points, or 0.1%, to 8,183.17. The S&P 500 index rose 3.12 points, or 0.4%, to 882.68, while the NASDAQ Composite Index gained 5.38 points, or 0.3%, to 1,752.55.
Stocks in action for the day: Mah Satyam, HCC, Bajaj Hind, HDIL, Praj
June 1-July 8 rainfall at 151 mm, 36% below normal: NW18
SEBI favours 25% public shareholding in all listed companies -Norms may fix annual hike in public shareholding -10% equity dilution for IPO over Rs 100 crore may be scrapped
Tata Motors: Exclusive: -Vendors to be reimbursed after Nano production starts
-Vendors to be reimbursed over 4 years
Praj Q1 Standalone YoY: -Sales down 18.3% at Rs 126.42 crore versus Rs 154.76 crore -OPM up 264 bps at Rs 21.89% versus 19.25% -Net Profit up 2.34% at Rs 25.33 crore versus Rs 24.75 crore -EPS at Rs 1.38 versus Rs 1.34 -Exchange Gain of Rs 3.79 crore versus loss Rs 7.6 crore -Other Income at Rs 11.61 crore versus Rs 1.95 crore ((Reversal of provision of doubtful debt))
Board meets: -Anant Raj on allotment of 2 crore convertible warrants to promoters -Rishabhdev Technocable on fund raising
RIL-RNRL: Govt to take call on its counsel by July 14
Mahindra Satyam gets 5-year multi-million dollar SAP contract from GSK
HCC bags Rs 387.5 crore order for power plant in Bhutan
Mint Exclusive: Kingfisher Airlines clears Rs 50 crore of dues to AAI (Airports
uthority of India): Sources
Zenotech Labs open offer starts on July 15, closes on August 3
Madras Cements to go for captive thermal plants with investment of Rs 280 crore
Bajaj to launch 100 cc bike on July 27
Wockhardt says CDR (corporate debt restructuring) package approved by empowered group on June 30
Eicher June truck, bus sales down 23.9% at 2,036 units (YoY)
Aegis Logistics board approves buy back up to Rs 143/sh ((CMP Rs 122))
Era Infra board meet on July 13 on QIP issue, increase in FII investment limit from 40% to 65%
Bajaj Hindusthan still in NSE F&O curb
7.03 crore HDIL shares to hit the market ((QIP issue))
3.54 crore Bajaj Hindusthan shares to hit the market ((QIP issue))
Ex-event: Shaw Wallace ((amalgamation with United Spirits))
ICICI Ventures fund raising plans hit roadblocks post recent changes on company’s top management
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