सेन्सेक्स (17,305.87 ) - 387.31 अंक गिरकर, नीफ़्टी (5,211.25) - 120.55 अंक गिरकर, बंद.
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Friday, August 5, 2011
Thursday, August 4, 2011
सेन्सेक्स (17,693.18 ) - 247.37 अंक गिरकर, नीफ़्टी (5,331.80) - 73.00 अंक गिरकर, बंद.
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Result Update: Bharti Airtel (Q1 FY12) – Market Performer
CMP Rs426, Target Rs461, Upside 8.2%
± Q1
revenues largely in line; EBIDTA and pre-FX PAT lower than expectation;
reported PAT impacted by Rs1.8bn of derivative & FX fluctuations
± India
& S Asia revs in line at +4.2% qoq driven by +3.3% increase in
wireless revenues; RPM declines 0.7% vs 1% rise for Idea
± Wireless EBIDTA margin halts multi-quarter decline, up ~60bps qoq; enterprise EBIDTA stumbles again after revival seen in Q4
± Africa US$ revenue growth at +6% qoq above our estimate driven by robust 9.5% traffic growth; MOU/sub also up 5% qoq
± Africa EBIDTA margin disappoint; EBIDTA stays flat qoq, impacted by higher network opex; Africa capex at US$420mn
± Expect
stock to consolidate after a stellar ~30% outperformance vs Sensex;
remain +ve on business but lower our rating as valuation do not permit
>10% upside. Rate MP with 9-mth TP Rs461
Market Commentary
The
start today could be a tad better after US stocks snapped an
eight-session losing streak. Asian markets are not doing too badly. The
big question is whether we can covert any relief pop into wider gains.
Given the macro-economic backdrop (both local and global), that may be
slightly tough.
Locally,
elevated inflation and its impact on interest rates is the biggest
headwind. GDP growth forecast has also been scaled down. Monsoon has
been below par. There are fears of the Government overshooting its
budget deficit. Disinvestment is in a limbo. The Centre is under attack
for a number of issues – from corruption to economic management. The RBI
is no mood to relent even as it seeks support from New Delhi.
Overseas
too things appear to have gone from bad to worse. The US has managed to
avert a default but worries prevail over a possible downgrade. Recent
data points have not been encouraging. The debt crisis continues to
hound the eurozone.
A sideways pattern with a negative bias is what we foresee in the near term. The key indices may trade in a tight band.
IFCI Bond Issue
listing likely on 5th August 2011
Today Listing
Inventure Growth IPO BSE
Code: 533506
The premium of L & T Finance has tumbled
to bottom level of Rs. 0.75 in Grey market
Deep differences between two merchant
bankers might be the core reason for this controversy
L
& T Finance Holding IPO Finally Subscribed 5.34 (average)
Inventure Growth IPO Basis of allotment
For
Further information scroll to primary market
Wednesday, August 3, 2011
सेन्सेक्स (17,940.55 ) - 169.34 अंक गिरकर, नीफ़्टी (5,404.80) - 51.75 अंक गिरकर, बंद.
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Market Commentary
World
markets are going through yet another rough patch, with the Dow down
for eight straight days. The S&P 500 is in the red for 2011. This is
Wall Street’s worst losing streak since October 2008.
The
initial euphoria over the US debt deal has given way to apprehensions
about the health of the global economy. The eurozone credit crisis also
keeps rearing its ugly head intermittently.
Risk
aversion is on the rise, with the Swiss franc hitting record high
versus the euro. Gold and government bonds too are seeing
‘flight-to-safety’ buying.
The
opening is likely to be pretty weak amid a world-wide carnage. The rest
of the day’s proceedings will hinge on how overseas markets perform. A
recovery is not ruled out after the recent selloff.
Equities
and other risky assets are not on the buying list for the time being
unless you are willing to patiently wait it out. Stay lighter till the
near-term uncertainties ebb. Given the global economic backdrop, India’s
8% GDP growth may not be that bad. Medium-to long-term investors could
look at quality stocks at lower levels.
Sell Stocks for Today
|
LIC Housing
|
Sell
|
206.00
|
|
Yes Bank
|
Sell
|
310.30
|
|
Bharat Forge
|
Sell
|
298.00
|
|
Hexaware
|
Sell
|
90.00
|
|
BRFL
|
Sell
|
285.00
|
|
Axis Bank
|
Sell
|
1343.00
|
|
I.B. Real
|
Sell
|
95.00
|
|
Sail
|
Sell
|
116.00
|
|
Reliance Comm.
|
Sell
|
99.00
|
|
Arvind
|
Sell
|
85.00
|
|
TTK Prestige
|
Sell
|
2790.00
|
|
DLF
|
Sell
|
227.85
|
|
JSW Steel
|
Sell
|
673.00
|
|
Bank of India
|
Sell
|
576.00
|
|
Jubilant Food
|
Sell
|
873.00
|
|
Praj Industries
|
Sell
|
80.95
|
|
Tata Motors
|
Sell
|
956.40
|
|
Renuka Sugar
|
Sell
|
69.60
|
|
Hanung Toys
|
Sell
|
138.00
|
|
United Spirit
|
Sell
|
991.00
|
|
GMDC
|
Sell
|
164.50
|
|
Bharti Airtel
|
Sell
|
432.05
|
|
IOB
|
Sell
|
135.00
|
|
Federal Bank
|
Sell
|
405.00
|
|
BOB
|
Sell
|
861.00
|
|
Central Bank
|
Sell
|
111.00
|
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