Market Outlook: Indian markets may witness a corrective bounce back buoyed by a recovery in the US & Asian markets. It fell steeply in the last few days and now some upside can be seen as Investors are feeling comfort to enter the market at this levels. Domestic institutions like MF’s & Insurance companies would start investing now as good some of investment will be collected under tax saving scheme & would be deployed in the markets which can bring some support to carry markets on the positive side.
Global Events to watch for today
- 4-Week Bill Announcement
- 3-Month Bill Auction
- 6-Month Bill Auction
Global indices Update @ 8:
Dow Jones : 10012 (+10.05)
NASDAQ : 2141 (+15.69)
Nikkei 225 : 10007 (- 48.11)
Hang seng : 19577 (- 87.81)
SGX CNX Nifty : 4725 (+21.50)
INR / 1 USD : 46.56
On the global counter:
Stock in action for the day: Rel MediaWorks, Inox, Kingfisher Air, Ansal
Jubilant Foodworks lists today Jubilant Foodworks Q3 -Income up 50% at Rs 117.4 crore -Net profit up at Rs 11.4 crore versus Rs 1.8 crore Jubilant Foodworks FY10 Guidance -Sales seen at Rs 415-420 crore -EBITDA seen at Rs 65 crore -PAT seen at Rs 32 crore, EPS at Rs 5 -((Market cap of Rs 923 crore, at issue price, PE = 29 times and Mcap/sales=2.2 times))
Reliance MediaWorks objects Inox’s acquisition of Fame, says the price was lower than a competing bid of Rs 80/sh from it
Govt drops Bank M&A plans following adverse views from RBI and political quarters
Kingfisher Airlines hires US firm to restructure and improve its operational and financial performance
ICICI Pru arm to take 40% in Ansal realty project in
ARSS Infra
Aviation sector investors could look at SpiceJet stock: The Dec ‘09 quarter results highlighted the the viability of the low-cost carrier (LCC) model. SpiceJet, the leading LCC operator recorded net In the air profit of Rs 105 crore in Dec ‘09 quarter compared to a net loss a year ago. SpiceJet fared much better than Jet Airways despite being a much smaller niche player. We believe that in the coming quarters, it would continue its stellar performance given its focus on LCC model. Long-term investors are advised to accumulate the stock at current price.
NTPC FPO subscribes fully, retail investors shy away!: National Thermal Power Corporation (NTPC) has been fully subscribed on close. The issue which closed on Feb.5, 2010 was subscribed 1.2 times. The QIB segment was subscribed 2.18 times while retail investors subscribed only 0.25 times. The company had launched FPO of 4,122 million equity shares.
McNally Bharat bags orders worth Rs 566.4 mn: McNally Bharat Engineering Company announced that it has received two orders worth Rs 566.4 million. The project work of the first order includes design, engineering, supply of equipment, under loading, storage, handling, erection testing and commissioning and structural work at site of an HDPS system for Aditya Aluminium Smelter Project of Hindalco for a total value of Rs. 283.2 million.
Maruti looks to drive out of Suzuki
Hathway Cable’s IPO: Bet for investors: Hathway Cable & Datacom is entering the capital market with an offer of close to 2.7 crore shares at a face value of Rs 10 each. Established Hathway Cable in 1995, the Rajan Raheja Group promoted company is a leading cable television services provider in
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