Monday, January 25, 2010

BOR: Market Outlook: Indian markets are likely to remain under pressure on account of weak global cues.

Market Outlook: Indian markets are likely to remain under pressure on account of weak global cues. Nifty has support at 4900-4950 and resistances are at 5050-5100. Volatility is expected to heighten as the week progresses in the run-up to the Reserve Bank of India (RBI)’s credit and monetary policy review on Friday and results of some top companies.

Results today: SBI, Hero Honda, M&M, Hindalco, Sterlite, HCL Tech, Power Grid, Godrej Ind, Gujarat Alk, Jet, Voltas, Wockhardt, Aarti Drugs, Alembic, Allcargo, Andhra Bk, blue star, C&C Const, Cadila Health, Cummins, DB Corp, Deepak Fert, Electrotherm, GSK Cons, Himatsingka Seide, Hotel Leela, India Cem, IndiaBulls Fin, Indiabulls Sec, Jyoti Structures, KEC intl, Liberty Shoes, LIC Hsg fin, Mirza Intl, Nelco, Oriental Hotels, Pantaloon retail, Redington, Repro Ind, Shanthi gears, Shasun Cem, Shriram EPC, Supreme Petrochem, Tantia Const, Tata Coffee, Tata Teleserv, TV today , Zydus Wellness, GSPL, Kanoria Chem, Lloyds Steel, Nelco, SPIC.

Global events to watch for today:

• Existing Home Sales
• 4-Week Bill Announcement
• 3-Month Bill Auction
• 6-Month Bill Auction

Global indices Update @ 8:

Dow Jones : 10172 (- 216.9)
Nasdaq : 2205 (- 60.41)
Nikkei 225 : 10463 (- 127.4)
Hang seng : 21488 (- 237.6)
SGX CNX Nifty : 4982 (- 32.00)
INR / 1 USD : 46.10
On the global counter: Wall St sinks on bank, political jitters; Nasdaq down 3% & Asia trading lower; Hang Seng, Nikkei down 1%. US stocks tumbled in their worst three-day slide in 10 months on Friday on fears the White House's plan to curb bank risk-taking would cut profits and a drop in tech shares after Google Inc's disappointing results.` The Dow Jones industrial average dropped 216.90 points, or 2.09%, to 10,172.98. The Standard & Poor's 500 Index slid 24.72 points, or 2.21%, to 1,091.76. The Nasdaq Composite Index fell 60.41 points, or 2.67%, to 2,205.29. For the week, the Dow dropped 4.1%, the S&P 500 lost 3.9% and the Nasdaq tumbled 3.6%. It was the worst week for the S&P 500 and Nasdaq since October and the worst week for the Dow since March.
Stocks in action for the day: Maruti, Tech Mah, NMDC, Bharti, Austral
Good news for telecom companies; -Indian Cell companies may levy call centre charge -Operators have sought TRAI for nod to levy charge: Srcs -Levy may begin soon, post TRAI nod: sources -Calls to help centres free till now -Call Centre charging followed by many telcos overseas
Maruti Suzuki Q3: Numbers beat street estimates, bottomline way above estimates -Revenues up 62% at Rs 7502.8 crore versus Rs 4625.8 crore (estimated Rs 7403 crore) -OPM at 15.1% versus 6.4% (estimated at 12%) -PAT up 3.2 times at Rs 687.5 crore versus Rs 213.5 crore (estimated at Rs 597 crore) Declared investment of Rs 1700 crore to up production capacity at Manesar by 2,50,000 units, to solve prod constraint issue
Grasim Q3: good quarter; higher cement, VSF volumes and lower input prices drive growth -Revenues up 4% at Rs 4788.35 crore versus Rs 4587.86 crore -PAT up 41% at Rs 795.70 crore versus Rs 565.30 crore-OPM at 29% versus 21%
Tech Mahindra Q3 -Consolidated net profit at Rs 172.8 crore versus Rs 168.95 crore (QoQ) -onsolidated net sales at Rs 1187.3 crore versus Rs 1,141.80 crore (QoQ) -Topline includes Rs 150 crore of refund from BT
Essar Oil Q3: GRM’s lower than expectation -Revenue up 18.5% at Rs 9958 crore versus Rs 8405 crore -OPM at 2.22% versus EBITDA loss of Rs 748 crore -Net loss of Rs 226 crore versus loss of Rs 1230 cr.
Infosys Finacle bags 20 deals from RRBs: Infosys' product division, which markets Finacle banking solutions, has received orders from 20 Regional Rural Banks (RRBs) for implementation of Core Banking Solution (CBS).
SpiceJet in action on the back of on robust Q3 numbers: The company's Q3 net profit was at Rs 109 crore versus loss of Rs 18 crore, YoY. Its net sales were at Rs 642 crore versus Rs 472 crore, YoY
Govt okays 10% stake sell in Hind Copper: The stock has gained more than 100% in last one month in anticipation of the divestment.
Wockhardt sells 18 acres in city to Runwal for Rs 200 cr: The Khorakiwala family, promoters of the troubled pharma company Wockhardt, has sold nearly 18 acre of land at Mulund for Rs 200 crore to a city-based developer, Runwal Group.
Choice Hotels acquires 60 pc stake of its franchisee partner: US-based hospitality major Choice Hotels International said on Sunday it has acquired the entire 60 %stake of its franchise partners Sandeep Gupta and Sushil Gupta of Asian Hotels, for an undisclosed sum.
India Equity Partners to buy 25% in IETS for Rs 140 crore: IETS is an education and cluster development initiative of Infrastructure Leasing & Financial Service (IL&FS). Two officials, involved in the deal, said on the condition of anonymity, the private equity firm would pick up nearly 20% in secondary sale by the three existing partners and 5% will be acquired through fresh issue of shares by IETS.
Mcleod Russel declares Q3 result; stk in action
Pratibha Ind approves hike in FII limit to 30%
December Infrastructure sector growth at 6% versus 0.7% (YoY)
Usha Martin raises Rs 468 crore Via QIP
DoT may ask Bharti and Tata Communications to end their contract with Singtel which was alleged offering ILD without a licence
Govt orders SFIO probe into Austral Coke
NMDC profit down 40% to Rs 860 crore – Agencies


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