Q1 Results Raise Market Expectations – Abhay Aima

Market Analyst Abhay AimaAccording to market analyst Abhay Aima that markets will take signals from Q1FY08 results.
Mr. Aima also said that existing interest rates would not restrain the growth.
The main determining factor for market actions in the near-term will be liquidity. Markets are not overvalued and not very cheap either.
Though, the rising rupee would not impact companies with sturdy fundamentals.

FDC Heads Gainers In ‘A’ Group

Novartis IndiaBombay Stock Exchange was the top gainer from A group shares on BSE today. It soared up 14.42% to Rs 398.30. Titan Industries, GMDC, GMR Infrastructure and RPL are among the other gainers.
In the year ended March 2007, the company’s net profit slumped 17.93% to Rs 88.55 crore as compared to Rs 107.89 crore in March 2006. The total sales mounted 3.10% to Rs 542.24 crore in the year ended March 2007 versus Rs 525.92 crore in its corresponding period, last year. The company announced the FY 2007 results on 11 May 2007.

Kajaria Ceramics Up On Large Volume

Kajaria Ceramics Ltd.In early trade, Kajaria Ceramics is quoting at Rs 35.70, up Rs 3, or 9.17%. It touched an intraday high of Rs 35.95 and an intraday low of Rs 32.70.

It is trading with volumes of 3,56,114 shares, compared to its five-day average of 1,53,640 shares, an increase of 131.78%. The share remained up 20% or Rs 5.45 at Rs 32.70 on yesterday’s closure.

Kajaria ceramics ltd is the foremost producer of ceramic wall and floor tiles in India. It is the only ceramic tile making business to achieve ‘Superbrand’ rank in India.

BSE Mid-Cap Index Arrives At New Crest

BSE SensexThe BSE Mid-Cap Index has made fresh all-time highs during this intermediate uptrend. It augmented 33.71 points, or 0.53%, to end at 6,417.90. It also hit a record high of 6435.32 during the day.
The components taking the BSE Mid-Cap Index to an upper rank include Entertainment Network, which increased 20% to Rs 506.60, Novartis India gained 14.42% to Rs 398.30, Honeywell Automation boosted 9.81% to Rs 2060, Lakshmi Energy benefited 9.19% and Titan Industries attained 8.78%. But all these stocks have less than 1% weightage each in the BSE Mid-Cap index.
With the second highest weightage of 1.4% in the BSE Mid-Cap index, GE shipping Company cast off 3.45% to Rs 335.90.

Bonus Issue Plan Excels Suraj Stainless

In afternoon tradeSuraj Stainless Ltd., Suraj Stainless jumped 1.54% to Rs 366.25 after its directors suggested a liberal 2:1 bonus. The company made this declaration during the trading hours.

During the day, the scrip touched an intraday high of Rs 374 and an intraday low of Rs 342.70. There were 2.26 lakh shares for trading on the BSE. During the past one quarter, the scrip has an average daily volume of 18,039. At its existing rate of Rs 366.25, the scrip trades at a PE multiple of 20.80 that is based on its year ended March 2007 EPS of Rs 17.60.

Rupee At One-week Low Vs. US Dollar

CurrencyOn the back of continued buying by importers and surmised intervention by the Central Bank, the rupee ended further down at more than one-week low of 40.87/88 versus the U.S. currency on Monday.
At the Interbank Foreign Exchange (Forex) market, the local unit opened up faintly inferior at 40.76/78 per dollar as compared to its Friday’s close of 40.75/76 a dollar.
It diluted more to close at 40.87/88, a sharp drop of 12 paise over its last end. It moved in a range of 40.76 and 40.8950 a dollar.

Shekhawat Files Nomination For President Seat

Vice President Vice President Bhairon Singh ShekhawatBhairon Singh Shekhawat filed his nomination for the presidential election on Monday. He would be challenging as an Independent contender supported by the National Democratic Alliance, minus the Shiv Sena and the Jammu and Kashmir Panthers Party.
Along with former prime minister Atal Bihari Vajpayee, leader of Opposition in the Lok Sabha L K Advani, Bharatiya Janata Party president Rajnath Singh, Jaswant Singh, Sushma Swaraj, and host of other leaders Mr. Shekhawat submitted two sets of nomination documents to Returning Officer P.D. Achary at Parliament House.

Jet Airways Is Weathering The Storm – Sudarshan Sukhani

Technical Analyst, Technical Analyst Sudarshan SukhaniSudarshan Sukhani is of the view that investor should hold up Jet Airways stock as it has expectations to rise.
Sukhani stated that it is rising from a long-term bear market. It has really emerged of that, and established a large base, and presently it’s moving in the up-ward direction.

Jet Airways Is Weathering The Storm – Sudarshan Sukhani

Jet AirwaysTechnical Analyst, Sudarshan Sukhani is of the view that investor should hold up Jet Airways stock as it has expectations to rise.

Sukhani stated that it is rising from a long-term bear market. It has really emerged of that, and established a large base, and presently it’s moving in the up-ward direction.

L&T Sizzles On Special Payout Plan

Larsen & Toubro Co. Ltd.Larsen & Toubro benefited 2.86% to Rs 2,168 after it made declaration of a board meeting on 3 July 2007 to think about a special dividend for FY 2008. During the day, the scrip hit a high of Rs 2,189.40, which is its all-time high price. Its low during the day was Rs 2,097.

Today, there were 2.47 lakh shares on the counter. In the last one quarter, the average daily volume was 2.11 lakh shares on BSE.
The existing market price of Rs 2,168 brushes off the company’s earning per share of Rs 46.9 for the year ended March 2007 by a PE multiple of 46.22.

ICICI Stake Sale In Subsidiary Fails To Obtain Govt. Nod

ICICI BankICICI Bank was trading flat at Rs 947.55 as its plan to sell a 5.9 per cent stake in a subsidiary has failed to obtain the government's nod.

During the day, the scrip touched a high of Rs 960 and a low of Rs 940. The current market price of Rs 947.55 brushes off its FY 2007 EPS of Rs 30.7, by a PE multiple of 30.86.

BSE Capital Goods Index Achieves All-Time High

Bombay Stock ExchangeTo an all-time high closing, the BSE Capital Goods Index climbed up 132.05 points or 1.13% to 11,830.08. The index ascended by a vigorous 30 per cent in the first six months of this year (Jan-Jun 22), beating up all other sectoral and benchmark exponents in the same period by a big margin.

L&T was the major gainer in the sector and its shares climbed by more than 50 per cent from Rs 1,400 to Rs 2,107 this year. BHEL was trading at Rs 1,440.15 and ABB rise dramatically by almost 27 per cent from Rs 3,735 to Rs 4,730.70.

Colgate Palmolive has shown remarkable performance

Colgate Palmolive Co.Colgate Palmolive Co. said, “Second quarter profit jumped more than analysts estimated on increased sales in Europe and Latin America and a weaker U.S. Dollar.”

Pratibha Patil Files Papers For Presidential Election

Taking the firstPratibha Patil formal step in the direction of becoming the first woman President of India, the UPA-Left candidate Pratibha Patil filed her nomination papers for the Presidential election.
Along with Prime Minister Manmohan Singh and Congress chief Sonia Gandhi, she submitted the documents to the returning officer and Lok Sabha Secretary-General P.D.T. Achary at the Lok Sabha Secretariat.
United Progressive Alliance (UPA) leaders Lalu Prasad, Ramvilas Paswan, Sharad Pawar, Ramdas Athawale and T R Balu were also there. Sitaram Yechury, Gurudas Dasgupta and Abani Roy were also present during nomination filing.

Sunita Williams Selected ‘Person Of The Week’

A leading USSunita Williams television network selected Indian-American astronaut Sunita Williams as 'Person of the Week' after she returned to Earth onboard shuttle Atlantis after a record 195-day stay in space.

On Saturday, the shuttle landed in safety at the Edwards Air Force Base in California after bad weather at the Kennedy Space Centre in Cape Canaveral pressured mission managers to leave out three landing efforts there.

After successful landing, NASA mission control congratulated Sunita and six other members of the Atlantis crew, and the ABC Television Network chose Sunita as ‘Person of the Week’.

Cement Stocks In Limelight

On the back of strong demand, Cement scrips were making recoveries from their previous losses. On Friday, India Cements climbed up 0.83% to Rs 188.10. ACC passed up 0.5% to Rs 851, Ambuja Cements rejected 2.64% to Rs 116.25, Ultratech cement turned down 2% to Rs 819.95 and Birla Corp slumped 4.44% to Rs 244.15.

Hindalco Looks Good On Metal Pack

Hindalco IndustriesHindalco Industries is a on a constant uptrend, with increase in the share price headed by market anticipations that supporters may acquire shares from the open market to ward off a takeover.

The stock had gush forth on deep volumes early this month. It has been on a continued increase since then amid irregular heave in daily trading volumes. In the past one month to 22 June 2007, the stock went up 18.38% to Rs 170, as against 1.75% rise in Sensex. The stock exceeded the stock market in the last three months period also, ascending 25.4% verses 8.89% rise in Sensex.

Congress MLAs’ Suspension Averted By Badal

The suspensionCongress of Cong MLAs for uncivil behaviour in the house was averted by the intervention of the Punjab Chief Minister Parkash Singh Badal.

Behaving in the most irresponsible manner, the Congress legislators created a commotion by uncivilly beating “thalis” (steel plates) with spoons to protest the “failure” of the Government to implement a scheme to provide subsidized food to the people. This compelled Speaker N.S. Kahlon to adjourn the House for an hour.

Minister Tikshan Sud brought forth a resolution seeking the suspension of the Congress legislators, when the House reassembled.

Atlantis Return Delayed Due To Bad Weather

The homecoming of the space shuttle was put off by a day due to bad weather on Thursday. Atlantis, carrying Indian-American astronaut Sunita Williams and six others, was was to return to earth after a 13-day mission, evaded two landing attempts because of thick clouds and thunderstorms at and around the Kennedy Space Centre.

FDC Leads ‘A’ Group Gainers Path

FDC scrip topped gainers’ list in BSE's ‘A’ group shares. FDC
spurted 7.87% to Rs 34.25. The stock climbed on buying prior to its Q4
March 2007 and FY 2007 results on Tuesday, 26 June 2007. The other
gainers in the list include Gesco, Sun TV, IDFC and REL.

In Q3 December 2006, FDC’s net profit came down 19.3% to Rs 0.96
crore as compared to Rs 3.46 crore in Q3 December 2005. Sales climbed
up 26.9% to Rs 112.54 crore in Q3 December 2006 (Rs 88.70 crore).

Syndicate content