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Investors with a horizon of 6-12 months can consider following scrips for their investment. These companies have potential to give higher returns than index over a long term. TATA Steel has achieved its target of 708

Corporate Highlights

Bharti Airtel, India's top mobile phone carrier, repaid debt of $415 million taken for the rollout of third-generation mobile services in the December quarter. The company, 32.2% owned by Southeast Asia's top telecoms firm SingTel, earlier posted a biggerthan- expected 41% in quarterly profit, as interest costs and currency fluctuations weighed.

Indian market had a gap-up opening but selling pressure at higher levels led indices to shed most of their gains, finally closed marginally positive. Cements and Auto faced major selling pressure while Realty and Oil-Gas traded with good gains. The Sensex closed at 18090, up 68 points from its previous close, and Nifty shut shop at 5432, up 14 points. The CNX Midcap index was down 0.3% and the BSE Smallcap index was up 0.1%. The market breadth was positive with advances at 683 against declines of 618 on the NSE. The top Nifty gainers were Tata Motors, RIL, HCL Tech and TCS and prime losers included Hero Honda, BHEL, NTPC and Bajaj Auto. The FIIs were net sellers with sales worth Rs 81.73 Cr

Market Outlook

Blue Star Ltd’s (BSL) Q3FY11 results were disappointing and below our expectations as net sales grew by 4.2% YoY to Rs6.1bn (PINCe Rs9.7bn). OPM contracted by 210bps to 7.7% on account of higher other expenses. Lower operating margins coupled with higher effective tax rate (28.7% against 24.1% YoY) translated in a 37.4% fall in adj net profit to Rs224mn.

Subdued performance by Electro-Mech (MEP) segment: Revenues from MEP segment (contributes ~70% to topline) degrew by 4.9% YoY. PBIT margin for the segment contracted by

The Kerala government on Wednesday entered into an agreement with its Dubai-based promoters for establishing the Smart City IT project in Kochi. This was a long pending project which was on halt due to some disputes between the two parties.

It is anticipated that Smart City project will generate direct employment for 80,000 people and indirect employment to another 20,000 people.

The dispute was regarding the land ownership but the dispute was resolved at the talks between Chief Minister V S Achuthanandan and Ahmed Homaid al Tajir, member of the Supreme Committee for Dubai World Group and Public Holding Group.

Bharti Airtel has registered a 41% drop in its net profit for the quarter ended December 31, 2010. This plunge is due to one time-brand development costs and foreign exchange losses. Last year during same period, company had posted the net profit at Rs. 2195 crore against Rs 1,303 crore in the Q3 of current year.

China's primary aluminium production rose to 1.246 million tonnes in December from 1.197