Daily Indian Stock Market Outlook Fundamental Picks by FairWealth Securities
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
JSW Steel reported 9% increase in its crude steel production in January to 5.8 lakh tonnes from 5.33 lakh tonnes a year earlier. The Sajjan Jindal-led firm's flat rolled products' output increased by 39% to 4.62 lakh tonnes during the month from 3.34 lakh tonnes in the same month last year. However, long rolled products' production dipped to 0.91 lakh tonnes registering a 10% decline from 1.01 lakh tonnes in January 2010.
Sanofi-Aventis SA and Genzyme Corp are likely to approve a takeover of the US biotechnology company and are discussing a price of about $74 a share plus potential additional payments tied to the performance of a Genzyme drug.
Economy Highlights
India's GDP growth for the 2010/11 fiscal year is estimated to grow at 8.6%. Based on current exchange rates, India is likely to have moved up in global GDP rankings to within the top 10 economies. India's farm output is expected to grow 5.4%, while industry growth this fiscal is expected at 6.2% in the current fiscal that ends in March. The service sector growth is projected to grow 11% this fiscal. India's economy has grown at 8.9% for two consecutive quarters in the current financial year, provisional data released by the government showed.