Tuesday, October 27, 2009

BOR: Market Outlook: Indian markets may have negative opening today on the back of weak global cues as Wall Street ends lower;

Market Outlook: Indian markets may have negative opening today on the back of weak global cues as Wall Street ends lower; on the back of financials, commodities drag & Asia trading lower; Hang Seng, Nikkei, Straits Times down. Nifty has supports at 4880-4920 and resistances are at 5050–5080. Stock specific action could be seen on the counter. F&O expiry is near & expect so volatility, well overall trend on markets is expected to stay above 4900 and the trend is still intact UP. Yesterday market has cracked and closed below 4950 mark thus comprising the up trend but still 4900 will hold until F&O expiry.

Results today: Reliance Power, RNRL, Wipro, Tata Steel, Ispat, Jet Airways, Kingfisher, Kotak Mahindra Bank, PFC, Cadila, Crompton Greaves, Dewan Housing, Dish TV, Everest Kanto, Fortis Healthcare, GMR Industries, Gokaldas, HMT, IFCI, Lanco Infratech. Abhishek Ind, Aegis Logistics, Alfa Laval, Aro Granite, Astrazeneca, Aventis, Birla Cotsyn, BOC India, CCL Products, Ceat, Datamatics Global, Deepak Fertilizers, Emco, Finolex Cables, Fresenius Kabi, Genus Power, GIC Housing, GTL, Himatsingka Seide, Hindustan Copper, Indo Tech Transformers, Indraprastha Gas, Inox Leisure, Ipca Labs, Jagran Prakashan, Jai Corp, Jindal Drilling, JK Lakshmi Cement, Jyothy Laboratories, Jyoti Structures, Kansai Nerolac, Lotus Eye Care, Madras Cements, Maharashtra Seamless, Mahindra Forgings, Mahindra Holidays, Mahindra Ugine, Mangalam Cement, Mcleod Russel, Morepen Laboratories, Mukta Arts, Nitin Fire, Ratnamani Metals, SEAMEC, SPIC, Subros, Phoenix Mills, Tourism Finance, Trent, Trigyn Tech, Unity Infraprojects, UTV Software, Vivimed Labs, Zensar Tech

Global events to watch for today:

  • ICSC-Goldman Store Sales
  • S&P Case-Shiller HPI
  • US Consumer Confidence
  • State Street Investor Confidence Index
  • 4-Week Bill Auction
  • 2-Yr Note Auction

Global indices Update @ 9:

Dow Jones : 9867 (-104.22)

Nasdaq : 2141 (-12.62)

Nikkei 225 : 10210 (-151.77)

Hang seng : 22222 (-367.02)

SGX CNX Nifty : 4932 (-39.5)

INR / 1 USD : 46.58

On the global counter: Wall Street ends lower; financials, commodities drag & Asia trading lower; Hang Seng, Nikkei, Straits Times down. The US markets retreated on Monday, led by financials and commodities, as the dollar rebounded. Financials were the day's biggest decliner after Rochdale Securities analyst Richard Bove downgraded three of the industry's bigger names- Suntrust, Fifth Third Bancorp, and US Bancorp. The CBOE volatility index meanwhile, jumped more than 9% to over 24, its biggest one-day jump in two years.

Stocks in action for the day: Tata Motors, Idea, Wipro, Sesa Goa, RIL

RIL-RNRL Hearing to resume at SC on today

Tata Motors Q2: -Revenues up 13% at Rs 7,978 crore versus Rs 7,078 crore -OPM at 13.1% versus 7.4% -Reported PAT up 2.1 times at Rs 749 crore versus Rs 347 crore -APAT up 39% at Rs 379 crore versus Rs 272 crore ((Other income includes Rs 370 crore from sale of Tata steel shares)) -Forex loss of Rs 15 crore versus Rs 245 crore

Idea Cellular -: -Idea Cellular launches 1 paise per second tariff in Mumbai -Idea Cellular tariff applicable to all local and STD calls -Idea Cellular tariff applicable only in Mumbai -Idea Cellular tariff only for pre-paid subscribers as of Now

Vijay Mallya: -Paid off $500 million of Whyte & Mackay acquisition debts -Not actively considering stake dilution in Whyte & Mackay -Treasury stock in hand currently at about $200 million -No need to raise funds currently

Satyam to be merged with Tech Mahindra after June next year: The Mahindra group, the new owner of Satyam Computers and the largest shareholder in Tech Mahindra, is set to merge the two companies after June next year to transform the combined entity into an Indian information and communication technology powerhouse.

Govt plans to say 'no' to FDI in multi-brand retail: The government plans to expressly clarify that foreign direct investment (FDI) in multi-brand retail is no-go territory, dashing the Hopes of Indian retailers expecting that the new rules announced earlier this year would allow them to bring in overseas partners and capital.

Entertainment Network India (ENIL), India’s leading private FM radio operator and the owner of the Radio Mirchi brand, has reported a net profit of Rs 3.8 crore for the quarter ended September 30, 2009, against a loss of Rs 3.3 crore for the corresponding period of the previous financial year.

RIL seeks new gas buyers to fully exploit KG reserves

MCA orders SFIO probe into Sesa Goa ((Sterlite says investigation relates to transactions in 2002, much before acquisition of Sesa Goa))

IDBI Bank says expect equity issue by January 2010

Era Infra bags new order worth Rs 126.3 crore

Ex-split: Educomp Solutions from Rs 10 to Rs 2

49 lakh Allied Digital QIP shares to hit market today

Kingfisher still in NSE F&O curb, Aban comes out


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