Tuesday, January 17, 2012

Stocks in action for the day: Subex, NCC, Dewan Housing, SBI, HCL Tech

Market Outlook: Indian markets are expected to open with a flat positive note backed by recover attempts seen in the Asian counters. All eyes are on TCS and HCL Technologies ahead of their quarterly results due later today. he software exporters are expected to report a bump in margins, aided by a weak rupee, while eking out revenue growth to meet expectations in an uncertain business environment. Asian shares inched higher and the euro stayed above a 17-month trough on Tuesday as investors focused on economic data from China to gauge the impact of the euro zone debt crisis on global growth.

Results Today : TCS, HCL Tech, VST Industries, Camlin, Chambal Fertilisers, Automotive Axles, Blue Star Infotech, Electrotherm India, Kajaria Ceramics, Maharashtra Scooters and Zee News

Global Markets: The US markets were closed yesterday, therefore no key takeaways. However, in data to watch out for in the US today, empire state manufacturing index is expected to rise to 10.50 for January. European markets closed slightly higher in a choppy session, with weakness in banks after a mass credit downgrade of euro zone countries offset by a rise in defensives, such as pharmaceuticals.

Global events to watch:

ΓΌ Empire State index for January.

Global indices Update @ 8:

Dow Jones : 12422 (-48.96)

NASDAQ : 2710 (-14.03)

Nikkei 225 : 8447 (+69.13)

Hang Seng : 19296 (+284.0)

SGX CNX Nifty : 4901 (+04.00)

Gold (USD/t oz.) : 1655

Nymex Crude (F) : 99.83

INR / 1 USD : 51.65

TECHOUTLOOK : Support for Nifty is at 4840 resistance at 4920.

Call for the day:

Buy South India Bank SL 22 Target 24.5-25.

Stocks in action for the day: Subex, NCC, Dewan Housing, SBI, HCL Tech

The Telecom Regulatory Authority of India (TRAI) has suggested Rs 20 crore as the entry fee for pan India unified licence.

Infosys is looking at increasing its focus on the insurance sector in the coming months, a top official of the company said.

The Government of Singapore has acquired a 1.09% stake, now worth about Rs2,500 crore, in Reliance Industries (RIL).

Tata Motors Ltd after the global vehicle whole sales rose an annual 27 percent in December, the company said in a statement on Monday, driven by strong sales of its passenger cars and luxury Jaguar Land Rover vehicles.

A Group of Ministers (GOM) is likely to recommend import of jet fuel (Aviation Turbine Fuel or ATF) on a case by case basis. At its meeting here the inter-ministerial group is also likely to discuss a proposal to allow foreign airlines to pick up equity in domestic airlines.

ONGC Tripura gets green nod for transmission leg: In a move that may remove part of the hurdles before commercial generation from the upcoming 2 X 363.3 MW gas-based power station of ONGC Tripura Power Company (OTPC), the Union Government has recently granted forest clearance for larger part of the Palatana (Tripura) - Silchar (Assam) leg of the transmission project, according to sources.

RINL bags Steel Minister's trophy again: Rashtriya Ispat Nigam Ltd (Visakhapatnam Steel Plant) has bagged the prestigious “Steel Minister's Trophy” (for its performance in the year 2009-10) for being the best integrated steel plant in the country. This is the second time RINL has won this award.

India's exports rose for the first time in five months, encouraging the government to reaffirm that it would achieve its $300-billion target for the year. Exports in December grew 6.7% to $25 billion over the previous month

South Indian Bank, the Thrissur (Kerala)-headquartered old generation private sector, has reported a 36 per cent increase in net profit at Rs 102 crore in the three-months ended December 31, 2011, against Rs 75 crore in the corresponding period last year.

Aided by a 32 per cent growth in net interest income, ING Vysya Bank's net profit grew 44 per cent during the third quarter of this fiscal compared with the corresponding quarter of last fiscal.

Software services provider Tata Elxsi reported an 84% jump in net profit to Rs.10.3 crore for the third quarter ended December 31. It had posted a net profit of Rs5.6 crore for the October-December period of 2010

Maruti Suzuki Hedges 80% of Yen Exposure on Behalf of Key Vendors. Maruti Suzuki had obtained special permission from the Reserve Bank of India (RBI) to buy forex cover on behalf of its vendors in June 2011.

GAIL Ltd the state-run company is in talks to buy liquefied natural gas (LNG) from suppliers, including Macquarie Energy, which has a share in the U.S.-based Freeport LNG project.

Market regulator Securities and Exchange Board of India (Sebi) has imposed a fine of Rs 5 lakh on India Infoline Securities alleging that the brokerage house had carried out synchronized trades in the shares of Asian Star Company for the period October 10, 2008 to November 20, 2008.

State Bank of India said that the government has approved a capital infusion of Rs.6,000-8,000 crore in the bank by March 31, a step that would help the lender to enhance its business.

Magma Fincorp reported a lower growth in profit of Rs.13.9 crore during the third quarter of 2011-12, down 59% from Rs.32.7 crore in the same quarter last year, due to change in business strategy and accounting policy. The fall in profit is also a consequence of MTM loss of Rs.5 crore on forex exposure.

The diversified Adani Group has zeroed in on Andhra Pradesh to set up a deep-water port with a proposed investment of $1 billion, as part of its plans to touch a cargo handling capacity of 200 million tonnes (mt) by 2015.

Govt Closer to Imposing Duty on Imported Power Tools.


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