Market Outlook: Indian market may have flat to negative opening today on account of mixed global cues. Nifty has supports at 5050-5070 and resistances are at 5180-5200. The dips should be used as buying opportunity.
Results today: Hero Honda, JP Associates, Chambal Fert, Yes Bank, Adhunik Metaliks, Agro Tech Foods, Everonn Education, Indraprastha Medical, Lanco Industries, MM Forgings, OCL India, Omnitech Info, Pidilite, Sakthi Sugars, Wabco-TVS, Xpro India, Zuari Industries
Global events to watch for today:
- US Bank Reserve Settlement
- MBA Purchase Applications
- EIA Petroleum Status Report
Global indices Update @ 9:
Dow Jones : 10041 (-50.71)
Nasdaq : 2163 (-12.85)
Nikkei 225 : 10305 (-31.58)
Hang seng : 22339 (-145.7)
SGX CNX Nifty : 5103 (-03.00)
INR / 1 USD : 46.04
On the global counter: Wall Street ends lower on poor economic data & Asian markets trading lower; Hang Seng, Nikkei down. The
Stocks in action for the day: Tech Mah, Jyoti Struct, Hero Honda, SBI
RIL counsel says RIL cannot be asked to subsidise gas sale to RNRL: ((Alert: Next hearing of RIL-RNRL case today))
Oil Secretary: -88 paise under-recovery on petrol/litre & 8 paise on diesel -Will review if price hike is needed in 15 days.
Tech Mahindra says merger with Mahindra Satyam 8-12 months away Mahindra Satyam: sources: Increases out-of-court settlement offer to Upaid -Settlement offer increased to $40 million from $10 million -Upaid & Mahindra Satyam hearing in January 2010 -Alert: Upaid seeking $1 billion for forgery, fraud, contract breach Mahindra Satyam gets CLB nod to extend fin reporting to June 30, 2010 NYSE warns of Satyam for delisting ADRs for late filing of A/Cs
SBI issue closes: -SBI raises $750 million through 5 years bonds in international market -SBI
-Current midswap at 2.73% -SBI received orders worth $3.3 billion, issue subscribed 5 times
Hero Honda: -Production in Gurgaon plant hurt by shortage of components -No impact at Dharuhera plant as it was a planned holiday
Essar group pulls out of bidding context with JSPL for Australian coal co Rocklands
Jyoti Structures bags Rs 833 crore order in
HCC bags Rs 167.7 crore water supply contract in
Tata Motors buys remaining 79% in Hispano Carrocera via call option
Aban to deploy 3 rigs by November
Oil PSU faces Rs 5,000 crore monthly loss as crude hits $80/bbl
Aban comes out of NSE F&O curb
Network 18 Media board approves deregistration as NBFC from RBI
Nu Tek India board approves stock split from Rs 10 to Re 1
FIIs need RBI nod to buy further shares of Bank of India as trigger limit hit
Tech Mahindra Q2: -Revenues at Rs 1141.8 crore versus Rs 1113 crore -Net profit at Rs 169 crore versus Rs 131.3 crore -EBIDTA at Rs 292.5 crore versus Rs 280.5 crore. -Margins at 25.6% versus 25.2%
Sesa Goa Q2 YoY: -Net sales down 40% at Rs 534 crore versus Rs 897 crore (QoQ down 38% versus Rs 999 crore) Operating profits at Rs 144 crore versus Rs 420 crore -OPM 27% versus 48% (QoQ 41%) Net profit down 51% at Rs 166 crore versus Rs 336 crore (QoQ down 61% versus Rs 422 crore)
GATI Q2 YoY: -Revenue up 8.3% to Rs 171.46 crore versus Rs 158.32 crore -OPM at 12.76% versus 5.9% -PAT at Rs 2.27 crore versus Rs 42 lakhs
Radico Khaitan Q2 YoY: -Revenue up 7.6% to Rs 187 crore versus Rs 173.92 crore -OPM at 17.05% versus 13.5% -PAT at Rs 9.71 crore versus Rs 6.03 crore
TVS Electronics Q2 YoY: -Revenues down 6.2% at Rs 51.4 crore versus Rs 54.8 crore -OPM down 58 bps at 5.29% versus 5.88% -Net Loss of Rs 0.48 crore versus Profit of Rs 0.54 crore -Interest costs at Rs 2.03 crore versus Rs 1.47 crore
JK Paper Q2: -Sales at Rs 285.35 crore versus Rs 282.94 crore -OPM at 22.14% versus 17.05% -Net Profit up 1.58x at Rs 23.4 crore versus Rs 9.07 crore -Interest Costs down 24% at Rs 10.57 cr vs Rs 13.95 crore -Q2 last year had forex losses of Rs 3.33 crore
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