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The Information technology companies posted decent result yesterday as the sector registered double-digit growth. The employees in the sector were expecting some steep hikes but the companies have disappointed them to a certain extent.

Member of the board and director, Human Resource, Infosys Technologies Ltd, TV Mohandas Pai has already shattered hopes of the high salary hikes to the levels of last year as he said that this possibility was highly unlikely.

The coffee giant, Starbucks based in Seattle, will finally venture into India which is primarily known for its tea drinking habit. Starbucks is currently prominent in Europe and USA and is an integral part of the life of the people there.

The foreign company will be tying up with Tata Coffee for buying coffee beans from India and will also be looking forward for the opening of outlets across the nation. They will be banking upon the fast growth of India for decent returns.

Raw material cost woes continue; EBITDA/t at new low

In Q3FY11, SAIL's revenues grew 15% YoY to Rs115.1bn on higher volume (up 11% YoY) and improved realisations (4% YoY rise). However, EBITDA declined 30% YoY to Rs18.0bn on higher raw material, employee and power cost. Consequently, EBITDA/t declined to a 2-yr low (and ~6-yr low excl. Dec'08 qtr) to Rs5,517. PAT declined 34% YoY to Rs11.1bn despite lower interest expense and fall in effective tax rate (32.0% vs 33.9%).

Coromandel International's (CIL) Q3FY11 results were inline with our expectations as net sales grew by 16.3% YoY to ~Rs20.4bn (PINCe 14.7% and ~Rs20.1bn respectively). OPM contracted slightly by 96bps to 10.8% resulting in an overall operating profit of Rs2.2bn. Other income was down 9.2% to ~Rs331mn. Consequently, net profit increased marginally by
3.8% YoY to ~Rs1.5bn.

Technical analyst Anil Manghnani of Modern Shares and Stockbrokers has maintained ‘buy’ rating on State Bank Of India stock.

The analyst said that the investors can buy the stock with a stop loss of Rs 2500

The stock of the bank, on January 13, closed at Rs 2560.65 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 3515 and a low of Rs 1890 on BSE.

Current EPS & P/E ratio stood at 153.76 and 16.61 respectively.

State Bank of India and Bharti Airtel signed up a JV deal to offer up banking services to the country's unbanked millions.

Rubber yesterday traded with the negative node and settled -0.01% down at 22590. Natural rubber, which has beaten other commodities this year, may extend a record rally as rains cut supply, compounding a seasonal output drop, while climbing car sales boost demand, according to analysts and fund managers. In yesterday's trading session Rubber has touched the low of 22499 after opening at
22410, and finally settled at 22590. For today's session market is looking to take support at 22501, a break below could see a test of 22413 and where as resistance is now likely to be seen at 22676, a move above could see prices testing 22763.

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