Several major brokerage houses have given a buy call for private banking major IndusInd Bank. Nirmal Bang has given buy call with target price of Rs 413 in October research report. The bank has announced results as per analyst expectations and stock closed at Rs 363 today.
Prabhudas Lilladher gave buy rating to the stock with target price of Rs 400. The report expressed satisfaction over asset quality of the bank and lower credit cost during the first half of financial year.
Indian government's recent reform measures will not be able to improve the country's credit profile, ratings agency Moody's Investors Service says.
Despite the recent measure to rein in deficit, Moody's Investors Service has estimated that the country's fiscal deficit would exceed 5.1 per cent level in the current fiscal year.
The union government of India recently reduced subsidy on diesel by increasing its prices by Rs 5 per litre, and capped the number of subsidized LPG cylinders to six per annum per household.
Tata Consultancy Services (TCS) expects its volume growth to slip to 4.5-4.8 per cent in the July-September quarter, from 5.3 per cent seen in the previous quarter.
The company said induction of freshers, low-margins in Asia-Pacific, and a minor shift to onsite for new deal starts would led to the probable retardation in the volume growth. In addition, the company is unlikely to benefit from rupee depreciation, which may lead to further decline in margins.
Research house Nirmal Bang has suggested buy call for Lupin with target price of Rs 633. Nirmal Bang has said in its research report dated 11, May 2012 that the results are in expectations.
The major issue was forex loss and the one-time tax on inventory sold to overseas subsidiaries of the company.
In its latest research report, Nirmal Bang, an equity research firm said that Yes Bank Limited stock can give good returns in the long term.
According to Nirmal Bang Research, the stock of the bank can be bought to achieve a target of Rs 370.
Today (March 08), the shares of the company opened at Rs 272.10 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 388 and a low of Rs 237.70 on BSE.
Current EPS & P/E ratio stood at 19.23 and 14.28 respectively.
NIIT Tech has large exposure to high-growth niche verticals such as insurance and travel. New service lines would boost non-linear growth and lead to improvement in realizations. NIIT Tech has been able to achieve volume growth in Europe despite economic headwinds.
Recent wins in the Indian market: Five-year BSF contract of Rs2,280mn;
Good performance in the BFSI and travel & transport verticals, which contribute ~73% to revenue;
Large untapped opportunity in the APAC markets, which are expected to be highest IT spenders in CY11;
Pepper August delivery gained Rs 827 and settled at Rs 21479/quintal on restricted supplies in the spot as farmers awaited further rise in prices, good domestic demand and firmness in international market. Supply is weak both in domestic and overseas markets.
In India, production has stagnated between 45,000-50,000 tonnes whereas domestic consumption is rising. Spot pepper climbed 552 rupees to end at 20,811 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 21479/quintal while low of Rs 20650/quintal. Now support for the pepper is seen at 20926 and below could see a test of
SENSEX closed at 17935, up 243 points and Nifty at 5368, up 77 points from the previous close. CNX MIDCAP index was up 1.5% and BSE SMALLCAP index was up 2%. The market breadth was positive with advances at 1059 against declines of 231 on the NSE. Top gainers included RELINFRA, HEROHONDA, BHARTIARTL, DLF and TATASTEEL. Top losers are listed as HUL, TCS, GRASIM, LT, ITC, IDEA and BPCL.
Next Day Trading Session:
In the earlier hours Indian indices traded almost flat but heavy selling pressure witnessed in the final hour of the session led it to close down on a weak note. SENSEX closed at 17590, 121 points down, NIFTY at 5262, 40 points down, CNX MIDCAP index was up 0.13% and BSE SMALLCAP index was up 0.90%. Top gainers are listed as LDF, TATAMOTORS, STERLITE, BHEL, HUL and CAIRN. Top losers included HDFCBANK, INFOSYS, WIPRO, GRASIM, SUNPHARMA, HCLTECH and WIPRO.
Next Day Trading Session:
Washington - The United States and Bolivia are "close" to reaching an agreement for the normalization of diplomatic ties, Bolivian Foreign Minister David Choquehuanca said Tuesday in Washington.
At the second round of bilateral dialogue, however, the two countries did not agree on a return of their ambassadors to each other's capitals.
"We are close to reaching an agreement. We have established that we will keep working to reach a new framework agreement that will allow us to establish a constructive relationship," Choquehuanca said.
Chisinau - Russian Foreign Minister Sergei Lavrov on Friday described a recent US suggestion that portions of an European anti- missile radar system might be based in Ukraine "extravagant and rather unexpected."
Lavrov made the remarks carried by the Interfax news agency in response to a journalist's question during a meeting of Commonwealth of Independent States (CIS) state heads, in the Moldovan capital Chisinau.
Crude oil: The counter is seen resisting the 21 DMA on the closing basis. The counter traded negative yesterday and closed below the 7 DMA also. The RSI dropped yesterday with fall in prices; RSI may even breach the MA if prices continue downside. The –DI remains on the upside, which indicates downtrend in the counter. Thus the counter may test 3250 and 3225 levels as long as prices traded below the 3360 levels.
Copper: The counter looks weak as it traded below the 7 DMA and resisted to enter the channel. The indicator also affirms the weakness as RSI is dropping and –DI rules on the upside. The prices are expected to remain weak below the 290 levels, targeting 284-282. However on breaching 291 on upside the counter may test 296 on the upside.
Nickel: The counter remained sideways to up yesterday and closed above the trend line and above the 7 &21 DMA. The RSI indicates strength in the counter as RSI maintains above the MA since a week. Thus the counter looks positive as long as prices traded above 835 levels, targeting 860-68 levels.
Gold: The counter have turned bullish after breaching the resistance at 15690 levels and close above all the short term moving averages. The RSI has breached the MA, while ADX indicates bullishness in the counter. Thus one can remain long in the counter at every dips above 15675 levels, as the counter has potential to inch-up higher to 16000 levels in near term.
U. S. crude oil futures edged higher on Tuesday, lifted by a weak dollar that helped boost commodities and as optimism about economic recovery and corporate earnings sent equities higher, providing further support to crude oil.
The API said that crude stocks fell 254,000 barrels in the week to Oct. 2, against the forecast for a 2.2-million-barrel increase in a poll of analysts.
A British newspaper reported that Gulf Arab states were in secret talks to abandon the U. S. currency in oil trade. Big oilproducing countries denied the report.
A slumping U. S. dollar and signs the global economy was recovering helped ignite a broad-based rally in the industrial metals complex on Tuesday, buoying the price of copper in London back up over the $6,000-a-tonne level.
Copper, used in power and construction, has surged 96 percent so far this year, largely supported by hefty buying by the Chinese Reserves Bureau and Chinese investors.
Japan's top six copper smelters are planning to increase output cautiously in the next six months as a gradual recovery in domestic demand helps offset slower Chinese buying, but several will stop short of restoring full production.
U. S. gold futures scaled an all-time high at $1,045 an ounce on Tuesday, gaining more than 2 percent as investors piled into the metal to preserve the value of their dollar-denominated assets against erosion by a weakening dollar and inflation.
Silver too followed the rise in gold and outperformed the yellow metal, gaining over 4 percent on COMEX and over 2 percent on MCX. The upside was capped in precious metals owing to the phenomenal rise in rupee against the dollar.
In its latest research report, Nirmal Bang, an equity research firm said that PVP Ventures Ltd can give good returns in the near term.
According to Nirmal Bang Research, the stock of the company can be bought with a strict stop loss of Rs 38 to achieve a target of Rs 60.
Today (Oct 07), the shares of the company opened at Rs 43.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 60.30 and a low of Rs 5.80 on BSE.
In its latest research report, Nirmal Bang, an equity research firm said that Kingfisher Airlines can give good returns in the short term.
According to Nirmal Bang Research, the stock can be bought with a strict stop loss of Rs 54.
The report also stated that, if the stock maintains above 59 with average volume of 30 lakh shares, then it will hit a target of Rs 71.
Today (Oct 07), the shares of the company opened at Rs 59.85 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 73.45 and a low of Rs 22 on BSE.
Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a 'buy' on Tata Steel stock with a short term.
The report further stated that if the counter is successful to breach Rs 515 levels, then it will hit 545.
The stock has strong support at Rs 493.
Today (Oct 07), the shares of the company opened at Rs 520 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 61.64 & 8.42 respectively. The share price has seen a 52-week high of Rs 545 and a low of Rs 146.35 on BSE.
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