ICICI Bank's Q1 profit grows by 17%

ICICI Bank, India's Number 2 lender, posted a 17 per cent rise in quarterly net profit, meeting forecasts, on strong corporate and retailloan demand in a rapidly growing economy.

Banks including bigger rival State Bank of India are seeing an improvement in asset quality as consumer loan defaults slow in an economy forecast to grow about 8.5 per cent in the current year ending next March.

Advances were down 6.92% (YoY) while increased 1.75% (QoQ). Deposits slipped 4.43% (YoY) and were down 0.5% (QoQ).

ICICI said its net profit in April-June, its fiscal first quarter, rose to Rs 10.26 billion ($221 million) from Rs 8.78 billion a year earlier. A Reuters poll of analysts had forecast net profit of Rs 10.30 billion.

Bank credit in India grew an annual 21.7 per cent in early July, according to central bank data, amid a rise in business and consumer confidence, from a low of 9.7 per cent last October and compared with 16.7 per cent at end-March.

Shares in ICICI Bank, valued at nearly $22 billion, have risen 3 per cent this year, roughly in line with a 2 per cent gain in the main Mumbai market but underperforming a 15 per cent jump in the sector index.

The bank expects credit demand to grow by 15 per cent in the year to March 2011, Chief Executive Chanda Kochhar said on Saturday.

Regards,
Free Indian Stock Tips Team

Read More

Genpact Q2 net dips 6%

India's leading BPO firm Genpact today reported a decline of 6.2 per cent in net income at USD 27.8 million for the second quarter ended June 30, 2010, as against Q2 of last fiscal.

The company had net income of USD 29.7 million in the April-June quarter of 2009, Genpact said in a statement. Its revenues rose 12.7 per cent to USD 307.6 million, up from USD 272.9 million during Q2 2009.

The company generated USD 30 million cash from operations in the second quarter of 2010, down from USD 49 million in the second quarter of 2009. The decline was primarily due to increased working capital requirements, Genpact President and CEO Pramod Bhasin said in a statement.

"We had strong revenue growth this quarter as momentum continues to build. Business process management work for Global Clients is the primary driver of this growth," Bhasin said.

"Our outlook remains positive. We continue to expect revenue growth in 2010 of 14 per cent to 17 per cent and adjusted income from operations margin of 17 per cent to 18 per cent," he added.

Bhasin said Genpact's revenues from its leading client, US-based conglomerate, GE also increased across all major service. About 86 per cent of Genpact's revenues for the quarter came from BPO services, up from 83.3 per cent for the second quarter of 2009, while revenues from IT services contributed 14 per cent of total revenues for the second quarter of 2010.

Revenues from clients other than GE grew 16.9 per cent in Q2, 2010, over the second quarter of 2009. Income from global clients now represents about 61.7 per cent of the total revenues, while the rest 38.3 per cent is generated from GE.

The company had cash and cash equivalents at USD 30.8 million during the second quarter, up nearly 7 per cent from USD 28.8 million Q2, 2009.

Regards,
Free Indian Stock Tips Team

Read More

Federal Bank Q1 net dips 3% to Rs 131.86 cr

Federal Bank had a net profit of Rs 136.38 crore in the same period last year, the bank said in a filing to the Bombay Stock Exchange.

However, total income of the company rose to Rs 1,061.68 crore for the quarter ended June 30, as against Rs 1,021.79 crore in the same period year-ago.

Regards,
Free Indian Stock Tips Team

Read More

Shopper's Stop posts 297% net profit in Q1

Leading retailer, Shopper's Stop, has clocked a 297 per cent jump in its net profit at Rs 10-crore in Q1 FY 11 as against Rs 2.5-crore in
the year-ago period.

The company reported a gross retail turnover of Rs 385.7-crore, up 25 per cent, as against Rs 308.1-crore in the year-ago period, a press release issued here today stated.

Regards,
Free Indian Stock Tips Team

Read More

Engineers India Limited FPO oversubscribed to 11.63 times

The Rs 977-crore follow-on offer of the state-run Engineers India got an overwhelming response with the FPO getting oversubscribed to 11.63 times on the third day of the issue today, lapped by institutional investors.

The offer, expected fetch up to Rs 977 crore to the government, received bids for over 39.18 crore shares against 3.36 crore equities on offer, thereby getting subscribed 11.63 times, as per the NSE data.

Today was the last day for institutional buyers to apply for the EIL public offer. The FPO, which opened on July 27, closes tomorrow for others (retail and HNIs).

The company is offering equity shares of Rs 5 each in the price band of Rs 270-290 apiece.

By the end of the third day, the FPO had been subscribed 23.43 times in the portion reserved for qualified institutional buyers (QIBs), as per the NSE data.

In the retail category, the pubic issue was subscribed 41 per cent and in the HNI portion 14 per cent,the NSE data show.

The government, which holds a little of over 90 per cent in EIL, is selling 10 per cent stake through the FPO. The company is a leader in engineering consultancy and had an order book of Rs 6,236 crore as on March 31, 2010. It operates majorly in the hydrocarbon sector, offering end-to-end solutions in engineering and design.

In the secondary market too, EIL counter attracted buying and on the NSE, with the scrip settling 2.28 per cent higher at Rs 330.25.


Regards,
Free Indian Stock Tips Team

Read More

Today's Free Short term Stock and Share Tips

------------------------------------------------------------------------------------------
Today's Free Short term Stock and Share Tips
------------------------------------------------------------------------------------------

ABAN OFFSHORE BUY Above 900 target 930, 955 SL 850


Regards,
Free Indian Stock Tips Team

Read More

SBI - Acquisition of State Bank of Indore

State Bank of India has informed BSE that the Government of India has issued the "Acquisition of State Bank of Indore Order, 2010" vide Order dated July 28, 2010. In terms of the said Order, the entire undertaking of State Bank of Indore shall stand transferred to and vested in the State Bank of India from the 30th day from the date of the Order, i.e. from August 26, 2010. The aforesaid Order has been issued under sub-section (2) of Section 35 of the State Bank of India Act, 1955.

Regards,
Free Indian Stock Tips Team

Read More

Everest Kanto Cylinder Ltd. posted net loss of Rs.125.6 million for Q1

Everest Kanto Cylinder Ltd has announced the Unaudited financial results for the quarter ended June 30, 2010.

The Company has posted a net loss of Rs (125.60) million for the quarter ended June 30, 2010 as compared to net profit of Rs 102.60 million for the quarter ended June 30, 2009. Total Income has increased from Rs 673.70 million for the quarter ended June 30, 2009 to Rs 787.90 million for the quarter ended June 30, 2010.

The Group has posted consolidated net loss after share of minority interest of Rs (115.00) million for the quarter ended June 30, 2010 as compared to net profit of Rs 167.60 million for the quarter ended June 30, 2009. Total Income has decreased from Rs 1539.60 million for the quarter ended June 30, 2009 to Rs 1394.90 million for the quarter ended June 30, 2010.

The stock closed the day at Rs.128.15, down by Rs.2.20 or 1.69%. The stock hit an intraday high of Rs.131.50 and low of Rs.126.75.

The total traded quantity was 269961 compared to 2 week average of 249676.

Regards,
Free Indian Stock Tips Team

Read More

Godrej Industries Net Profit up 48.74 crore

Godrej Industries has posted consolidated net profit of Rs 487.40 million for the quarter ended Jun. 30, 2010 where as the same was at Rs 163.60 million for the quarter ended June 30, 2009.

Total income is Rs 10,030.20 million for the quarter ended June 30, 2010 where as the same was at Rs 7,800.30 million for the same quarter a year ago.

In view of change in the company`s shareholdings in some of the subsidiaries, joint ventures and associates, as also business restructuring including acquisitions, divestments/joint ventures in some of these companies, the consolidated results for the year are not strictly comparable with those of the previous year.

Regards,
Free Indian Stock Tips Team

Read More

Indiabulls Financial Q1 PAT up by 81%

Indiabulls Financial Services Q1 PAT rises by 81% on a Total Revenue of Rs 471 Cr

Indiabulls Financial Services (IBFSL), one of India’s leading and fastest growing private sector financial services company, today announced the unaudited results for the quarter ended June 30, 2010.


The Consolidated Total Revenues stood at Rs. 471.09 crores in Q1 FY 11 while the Profit After Tax was at Rs. 133.63 crore on the back of sustained momentum in loan disbursals and declining Cost-Income ratio achieved through falling costs of borrowing of funds for disbursement. IBFSL is one of the best capitalized NBFCs with a CRAR of 28.48% and has garnered the wherewithal to compete profitably with established players in the home loans market. The quality of its debt too has increased through a planned shift towards longer termed debt at competitive rates.

The Q1 FY 2011 also saw the net worth of IBFSL standing at Rs 4559 crores, showing a growth of 25.4% as compared to the first quarter last fiscal. The Basic Earnings Per Share (EPS) for Q1 FY11 was at Rs 4.42 per share as opposed to Rs 2.99 per share last quarter. Loan Assets have grown 47.4% to Rs 12,535 crores as of June 30, 2010 from Rs 8505 crores in June 30, 2009. Fresh disbursements for the quarter were up 238% at Rs 3,188 crores from Rs 943 crores in Q1 FY 10. The Net Interest Income (NII) for the current quarter was at Rs 265 crores up 40.2% from Rs 189 crores as of June 30, 2009. Mortgage loans, which are of long tenure, will result in sustained asset growth for the company. The quarter saw increasing share of low-risk mortgage loans to over 2/3 of its portfolio. Growth in mortgage loans will lead to lower provisioning costs for the company.

The company received AA (Stable) Rating from ICRA (An Associate of Moody’s Investors Service) and CARE which will contribute towards efficient management of cost of funds as the company enhances its borrowing programme to fund its expanding loan portfolio. In July 2010, IBFSL raised Rs 1,260 crores from allotment of 3 years secured redeemable Non-Convertible Debenture (NCD) to leading banks, PFs and Financial Institutions. The company’s liability profile witnessed shift towards long term debt and NCDs from large number of public sector banks and financial institutions at competitive rates. The Company will continue to further focus on diversifying its sources of funding.

Regards,
Free Indian Stock Tips Team

Read More

Bharat Forge Q1 revenue up by 76%

Bharat Forge Limited, performance for First Quarter of the Financial Year 2010-11

Combined revenue (BFL plus its wholly owned subsidiaries) reached
Rs. 1,013 Crores, Standalone revenue reached Rs. 640 Crores.

Stand-alone revenues for Q1 grew by 76.0% on a YoY basis to reach Rs. 640 Crores.

EBITDA in Q1 grew by 110.7% to Rs 168.8 crores; EBITDA margins expand 440 basis points on a YoY basis.

Wholly owned subsidiaries record impressive turn around.

Bharat Forge Ltd., today announced its Q1 results with combined and standalone revenue reaching Rs. 1,013 crores & Rs 640 crores respectively.

Stand-alone revenue & EBIDTA for Q1 reached Rs. 640 crores and Rs. 168.8 crores, a YoY growth of 76.0% & 110.7% respectively. Combined revenue & EBITDA for the quarter was 1,013 crores and Rs 184.6 cores, a YoY growth of 66.3% & 214.5% respectively.

The Wholly Owned Subsidiaries have recorded a strong performance in this quarter. Revenues have grown by 51.9% to Rs 372 crores while EBITDA for the quarter was Rs 15.8 crores as against a loss at EBITDA level of Rs 21.4 crores in the corresponding quarter previous year. The turnaround in performance of the subsidiaries is on account of restructuring of operations which we carried out last year and improvement in automotive demand environment in Europe. Exports for the quarter grew by 63.2% on a YoY basis to reach Rs 232.9 crores with growth across all geographies and market segments.

Regards,
Free Indian Stock Tips Team

Read More

RIL Q1 net profit seen up 2.3% at Rs 4820 cr

Mukesh Ambani group's flagship company Reliance Industries (RIL) is set to announce its results for the quarter ended June 2010. According to CNBC-TV18 estimates, its net profit is expected to go up 2.3% at Rs 4820 crore from Rs 4710 crore, on quarter-on-quarter basis (QoQ) and up 32.5% versus Rs 3636 crore on YoY basis.

Sales are seen going up 3% at Rs 59300 crore from Rs 57570 crore (QoQ) and up 85% from Rs 32055 crore (YoY).

Operating profit margin is seen flat at 15.80% versus 15.87% (QoQ) and seen improving from 18.47% (YoY).

Regards,
Free Indian Stock Tips Team

Read More

Market view for the week July 26 to 30, 2010

The Sensex recorded yet another 52-week high last week and the response from the market participants was just as indifferent the previous week. There is no doubt about the fact that the short and medium-term trends are still up. The laboured manner in which the index is edging higher suggests that the intermediate term range between 15,500 and 18,500 continues to shackle the index.

The fact that the medium term down-trends in global benchmarks has not reversed yet is another reason why it is best to say on guard. If we consider the movement of the Sensex from February lows, e-wave targets are 18,356 and 19,271. Minor wave count of the move from 15,960 lows gives us the targets at 18,382, 18,668 and 18998.

In other words, there is strong resistance between 18,300 and 18,500. If this zone is surmounted, 19000 would be on the cards. The medium term trend will reverse lower only on a close below 17,370.The Sensex is headed higher in the short-term but it can face hurdles at 18,325, 18,620 and 18,668 in the days ahead. Supports for this period would be available at 17,856 and 17,730.

Regards,
Free Indian Stock Tips Team

Read More

Sesa Goa Q1 Results June 2010

Sesa Goa Results – Announces Qtr Ending June 2010 results,Sesa Goa net profit rose 152.01% to Rs 1025.51 crore in Qtr ending June 2010 for the financial year 2009-2010 compared to Rs 406.94 crore in qtr ending June 2009. Sales rose 101.77% to Rs 1899.18 crore in Qtr ending June 2010 for the financial year 2009-2010 compared to Rs 941.27 crore in qtr ending June 2009.

Regards,
Free Indian Stock Tips Team

Read More

What is Dematerialization?

What is Dematerialization?

Dematerialization is the process by which physical certificates of an investor are converted to an equivalent number of securities in electronic form and credited to the investor�s account with his Depository Participant (DP).

Read More

What is a Depository?

What is a Depository?

A depository is like a bank wherein the deposits are securities (viz. shares, debentures, bonds, government securities, units etc.) in electronic form.

Read More

What is Index?

What is Index?

An Index shows how a specified portfolio of share prices are moving in order to give an indication of market trends. It is a basket of securities and the average price movement of the basket of securities indicates the index movement, whether upwards or downwards.

Read More

What is Mutual Fund?

What is Mutual Fund?

A Mutual Fund is a body corporate registered with SEBI (Securities Exchange Board of India) that pools money from individuals/corporate investors and invests the same in a variety of different financial instruments or securities such as equity shares, Government securities, Bonds, debentures etc. Mutual funds can thus be considered as financial intermediaries in the investment business that collect funds from the public and invest on behalf of the investors. Mutual funds issue units to the investors. The appreciation of the portfolio or securities in which the mutual fund has invested the money leads to an appreciation in the value of the units held by investors. The investment objectives outlined by a Mutual Fund in its prospectus are binding on the Mutual Fund scheme.

The investment objectives specify the class of securities a Mutual Fund can invest in. Mutual Funds invest in various asset classes like equity, bonds, debentures, commercial paper and government securities. The schemes offered by mutual funds vary from fund to fund. Some are pure equity schemes; others are a mix of equity and bonds. Investors are also given the option of getting dividends, which are declared periodically by the mutual fund, or to participate only in the capital appreciation of the scheme.

Read More

What is a Derivative?

What is a Derivative?

Derivative is a product whose value is derived from the value of one or more basic variables, called underlying. The underlying asset can be equity, index, foreign exchange (forex), commodity or any other asset.

Derivative products initially emerged as hedging devices against fluctuations in commodity prices and commodity-linked derivatives remained the sole form of such products for almost three hundred years. The financial derivatives came into spotlight in post-1970 period due to growing instability in the financial markets. However, since their emergence, these products have become very popular and by 1990s, they accounted for about two-thirds of total transactions in derivative products.

Read More

What is an Equity or Share?

What is an Equity or Share?

Total equity capital of a company is divided into equal units of small denominations, each called a share. For example, in a company the total equity capital of Rs 5,00,00,000 is divided into 50,00,000 units of Rs 10 each. Each such unit of Rs 10 is called a Share. Thus, the company then is said to have 50,00,000 equity shares of Rs 10 each. The holders of such shares are members of the company and have voting rights.

Read More

What is Stock Exchange?

What is Stock Exchange?

The Securities Contract (Regulation) Act, 1956 [SCRA] defines 'Stock Exchange' as any body of individuals, whether incorporated or not, constituted for the purpose of assisting, regulating or controlling the business of buying, selling or dealing in securities. Stock exchange could be a regional stock exchange whose area of operation/jurisdiction is specified at the time of its recognition or national exchanges, which are permitted to have nationwide trading since inception. NSE was incorporated as a national stock exchange.

Read More

Short term Financial Options

There are lot of short term financial options are available in financial world. But, one should take care while choosing short term investment options since it's fully risk involves.

While the good side of short term investment, there are some low risk investments are also available. But, they yield less returns while comparing with high risk investments.

Savings Bank Account is one of those investment which often the first banking product people use, which offers low interest (4%-5% p.a.), making them only marginally better than fixed deposits.

Money Market or Liquid Funds are a specialized form of mutual funds that invest in extremely short-term fixed income instruments and thereby provide easy liquidity. Unlike most mutual funds, money market funds are primarily oriented towards protecting your capital and then, aim to maximise returns. Money market funds usually yield better returns than savings accounts, but lower than bank fixed deposits.

Read More

Various Investment Options

Here, we are going to see the various investment options available to invest. In our upcoming topics, we'll see which is the best invstment options to invest and which will give good/high returns.

For getting high returns one should invest in physical assets or financial assets. Different options of physical and financial assets are listed here:

Physical assets - Real estate, gold/jewellery, commodities etc.

Financial assets - Fixed deposits with banks, small saving instruments with post offices, insurance/provident/pension fund etc. or securities market related instruments like shares, bonds, debentures etc.

Read More

Interest Rates

What is Interest?

When we borrow money, we are expected to pay for using it - this is known as Interest. Interest is an amount charged to the borrower for the privilege of using the lender's money. Interest is usually calculated as a percentage of the principal balance (the amount of money borrowed). The percentage rate may be fixed for the life of the loan, or it may be variable, depending on the terms of the loan.

Which factors determine interest rates?

There are different types of interest rates - rates that banks offer to their depositors, rates that they lend to their borrowers, the rate at which the Government borrows in the Bond/Government Securities market, rates offered to investors in small savings schemes like NSC, PPF, rates at which companies issue fixed deposits etc.,

Read More

Start Investing

Start Investing:

In this topic, we are going to see when one to start investing and what factors one should consider while investing.

When one needs to start invest?

Invest Early - By investing early, one can allow their investments more time to grow, whereby the concept of compounding increases their income, by accumulating the principal and the interest or dividend earned on it, year after year.

Invest Regularly - Investment doesn't mean the one time effort by simply putting money and watching it's growth. One should invest regularly on monthly basis at their earlier age itself (may be at the time of entering into a good job).

Invest for long term and not short term - One's goal or vision while investing should be in long term and not in short term. Because, the long term investment only growth in good manner than short term.

What are the key factors one should consider while investing?

Before making any investment, one must ensure to:

1. obtain written documents explaining the investment
2. read and understand such documents
3. verify the legitimacy of the investment
4. find out the costs and benefits associated with the investment
5. assess the risk-return profile of the investment
6. know the liquidity and safety aspects of the investment
7. ascertain if it is appropriate for your specific goals
8. compare these details with other investment opportunities available
9. examine if it fits in with other investments you are considering or you have already made
10. deal only through an authorised intermediary
11. seek all clarifications about the intermediary and the investment
12. explore the options available to you if something were to go wrong, and then, if satisfied, make the investment.

Read More

Investment Basics

Investment Basics:

Here, we are going to see about the investment basics, investment options, various investment types etc.,

What is investment?

The money you earn is partly spent and the rest saved for meeting future expenses. Instead of keeping the savings idle you may like to use savings in order to get return on it in the future. This is called Investment.

Why should we need to invest?

One needs to invest to:
a)earn return on your idle resources
b)generate a specified sum of money for a specific goal in life
c)make a provision for an uncertain future

One of the important reasons why one needs to invest wisely is to meet the cost of Inflation. Inflation is the rate at which the cost of living increases. The cost of living is simply what it costs to buy the goods and services you need to live. Inflation causes money to lose value because it will not buy the same amount of a good or a service in the future as it does now or did in the past.

More on coming posts....

Read More

Free Intraday Stock and Share Tips for July 23, 2010

------------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 23rd, 2010
------------------------------------------------------------------------------------------

UNITECH BUY IN 87 target 89, 92 SL 85


Regards,
Free Indian Stock Tips Team

Read More

Circuit Breakers

The index-based market-wide circuit breaker system applies at 3 stages of the index movement, either way viz. at 10%, 15% and 20%. These circuit breakers when triggered bring about a coordinated trading halt in all equity and equity derivative markets nationwide. The market-wide circuit breakers are triggered by movement of either the BSE Sensex or the NSE S&P CNX Nifty, whichever is breached earlier.

� In case of a 10% movement of either of these indices, there would be
a one-hour market halt if the movement takes place before 1:00 p.m.
In case the movement takes place at or after 1:00 p.m. but before
2:30 p.m. there would be trading halt for � hour. In case movement
takes place at or after 2:30 p.m. there will be no trading halt at the
10% level and market shall continue trading.

� In case of a 15% movement of either index, there shall be a two-hour
halt if the movement takes place before 1 p.m. If the 15% trigger is
reached on or after 1:00 p.m., but before 2:00 p.m., there shall be a
one-hour halt. If the 15% trigger is reached on or after 2:00 p.m. the
trading shall halt for remainder of the day.

� In case of a 20% movement of the index, trading shall be halted for
the remainder of the day.

These percentages are translated into absolute points of index variations on a
quarterly basis. At the end of each quarter, these absolute points of index
variations are revised for the applicability for the next quarter. The absolute
points are calculated based on closing level of index on the last day of the
trading in a quarter and rounded off to the nearest 10 points in case of S&P
CNX Nifty.

Read More

Capital Market Types

The Capital Market system has four types of market.

1.Normal Market:

Normal market consists of various book types wherein orders are segregated
as Regular Lot Orders, Special Term Orders, Negotiated Trade Orders and
Stop Loss Orders depending on their order attributes.

2.Odd Lot Market:

The odd lot market facility is used for the Limited Physical Market.

3.Retdebt Market:

The RETDEBT market facility on the NEAT system of capital market segment
is used for transactions in Retail Debt Market session. Trading in Retail Detail Market takes place in the same manner as in equities (capital market)
segment.

4. Auction Market:

In the Auction market, auctions are initiated by the Exchange on behalf of
trading members for settlement related reasons.

Read More

Hot Stock for intraday trading July20

------------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 20th, 2010
------------------------------------------------------------------------------------------

EIH BUY IN 130 target 133, 137 SL 125


Regards,
Free Indian Stock Tips team

Read More

Today's Free Intraday Stock and Share Tips for July 19th, 2010

------------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 19th, 2010
------------------------------------------------------------------------------------------

GODREJ INDUSTRIES BUY IN 188 target 193, 197 SL 185


Regards,
Free Indian Stock Tips team

Read More

Today's Free Intraday Stock and Share Tips for July 16th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 16th, 2010
-------------------------------------------------------------------------------------

AMTEK AUTO BUY IN 193 target 197, 201 SL 188


Regards,
Free Indian Stock Tips teamprovided on the website.

Read More

Today's Free Intraday Stock and Share Tips for July 15th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 15th, 2010
-------------------------------------------------------------------------------------

FCS SOFTWARE SELL IN 3.30 target 3.10, 2.90 SL 3.50


Regards,
Free Indian Stock Tips team

Read More

Today's Free Intraday Stock and Share Tips for July 14th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 14th, 2010
-------------------------------------------------------------------------------------

UNITECH BUY IN 83 target 86, 90 SL 81


Regards,
Free Indian Stock Tips team

Read More

Nifty reclaims 5400 level and Sensex at 2½ yr closing high

Indian equity benchmarks ended on a positive note Tuesday after pullback in the afternoon taking cues from European peers. Investors took positions in index-heavy weights even as IT bellwether Infosys Technologies announced lower-than-expected first quarter results.

Market opened on a subdued note in line with Asian peers and drifted lower as investors off-loaded Infosys shares. Positive opening of European and buying activity in index heavyweights helped the indices to tide over.

Bombay Stock Exchange’s Sensex ended at 17985.90, up 48.70 points or 0.27 per cent. The index touched a high of 17998.04 and low of 17855.85.

National Stock Exchange’s Nifty closed at 5400.65, up 17.65 points or 0.33 per cent. The broader index hit a high of 5406.20 and low of 5357.85 intraday.

The BSE Midcap and Smallcap indices ended higher by 0.72 per cent.

Amongst the sectoral indices, BSE Realty Index surged 4.03 per cent and BSE Oil&Gas Index moved 1.28 per cent higher. BSE IT Index fell 2.68 per cent and BSE FMCG Index edged 0.29 per cent lower.

IT stocks witnessed profit booking after Infosys reported lower-than-expected 1QFY11 results. The IT major reported consolidated net profit of Rs 1,488 crore for the quarter ended June 2010, down 2.4 per cent from Rs 1,525 crore for the corresponding quarter of 2009. Revenue for the June 2010 quarter was at Rs 6,198 crore, up 13.3 per cent from Rs 5,472 crore year ago. Sequentially and on standalone basis, the company posted net profit of Rs. 1431 crore for the first quarter ended June 30, 2010, marginally lower from Rs. 1430 crore for the quarter ended March 31, 2010. Net sales for the June quarter was at Rs. 5758 crore compared with Rs. 5500 crore for the quarter to March. However, the company raised full-year revenue growth forecast in dollar terms.

“While we must admit that we were expecting a better June quarter, what is truly remarkable is that this usually conservative company has chosen to make a big statement for the future. We were expecting a 3.5%QQ as the base guidance for Sep-10 quarter revenues but the company has guided for 5.1%QQ.

These are meaningful signs of confidence from any company but coming from Infosys, they draw a line in the sand that proclaims robust demand and visibility of growth despite the macro-economic chatter heard from Europe recently.

We believe that our street high estimate of 25-26%YY $-revenue growth for FY11 is reasonable,” said CLSA.

Unitech (6.05%), DLF (4.38%), Suzlon Energy (4.33%), Tata Steel (2.22%), Jaiprakash Associates (2.12%) and Reliance Industries (1.71%) were amongst the top Nifty gainers.

Idea Cellular (-5.85%), Infosys Technologies (-3.42%), TCS (-2.15%), Bharti Airtel (-1.91%) and Wipro (-1.43%) were amongst the losers.

Market breadth was positive on the BSE with 1694 gainers against 1188 losers.

European markets gained momentum and stock futures indicate a positive start in US. At 4:20 pm IST, Dow Jones gained 0.49 per cent, Nasdaq moved 0.77 per cent up and S&P 500 advanced 0.63 per cent.

Regards,
Free Indian Stock Tips Team

Read More

Today's Free Intraday Stock and Share Tips for July 13th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 13th, 2010
-------------------------------------------------------------------------------------

RELCAPITAL SELL IN 775 target 768, 760 SL 780


Regards,
Free Indian Stock Tips team

Read More

Today's Free Intraday Stock and Share Tips for July 12th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 12th, 2010
-------------------------------------------------------------------------------------

PUNJ LLOYD BUY IN Rs.138 Target1 Rs.143, Target2 Rs.147 and Stop Loss Rs.134


Regards,
Free Indian Stock Tips team

Read More

Infosys numbers to set the pace of market this week: Analysts

The Dalal Street is expected to extend the gains of the past sessions this week on hopes of a robust earnings season that begins with theInfosys numbers on Tuesday, and a rebound in the global markets, say analysts.

"The market is likely to see a gap-up opening on Monday and will gain further as investor confidence is upbeat on hopes of a robust first quarter earnings, supported by a rebound in the global markets," Geojit BNP Paribas research head Alex Mathews said.

The market is keenly awaiting the numbers and guidance of the IT bellwether Infosys, which will kick-off the results season on July 13. The IT bellwether not only sets the mood of the sector but the entire market, say analysts.

"The strong rebound in corporate earnings growth witnessed in the March quarter is expected to continue in the first quarter of this fiscal. The adjusted earnings of the Sensex companies are expected to grow by a strong 22.5 percent year-on-year in the June quarter," brokerage firm Sharekhan said in a note.

Progress of the monsoon, coupled with positive economic data, hopes of a robust corporate earnings season and the rebound in global markets will keep investor sentiment upbeat on the Dalal Street, says analysts, adding the progress of the monsoon has already boosted market sentiment and investors are willing to bet high.

"A bumper foodgrain production will substantially ease the inflation rate and will be helpful for the economy," Mathews said.

Last Friday, agriculture minister Sharad Pawar said the country is likely to have bumper foodgrain production in the current crop year on the back of a good monsoon and a rise in area under cultivation.

Analysts say sugar stocks may attract some buying on the government talk over the deregulation of sugar prices in the future. Though the broader market may move in an upward range this week also, stock-specific actions will be more prominent, say brokers.

"Investment sentiment is bullish after the IMF raised the growth outlook for the country and the market is likely to continue the upward journey in the coming days also," Bonanza Portfolio vice-president for equities RL Narayanan said.

Supported by an upgraded global economic outlook by the IMF, coupled with some cool-off in domestic food inflation, the domestic market joined its global markets which ended with good gains past week. During the week, the Sensex recorded a cumulative jump of 2.13 per cent.

Regards,
Free Indian Stock Tips Team

Read More

Satyam promoters wrongfully gained Rs 2643 crore: CBI

CBI has revealed the findings of one of the India's biggest corporate fraud –Ramalinga Raju’s Satyam case. CBI has said that the promoters and family of the company has wrongfully gained Rs 2,743 crore.

In its findings, CBI has stated that Satyam had inflated non-existent cash of Rs 5040 crore. It further said that that Satyam had understated liability of Rs 1,230 crore and over stated debt by Rs 490 crore.

CBI has divulged that promoters of Satyam had floated 327 front companies and published inflated financials. Satyam had taken a loan of Rs 1230 crore loan from the front companies which are not even accounted in books. It further taken unaccounted loan of Rs 1493.84 crore from banks.

The investigation also revealed that Satyam had executed projects in the name of seven non-existent companies. The seven companies include Mobitel, Cellnet, E Care, Synony, Northsea, Autotech and Hargreaves.

Earlier on 18 December, 2008, its employee Joe Abraham had mailed the scam details and circulated among board members, informed CBI.

Regards,
Free Indian Stock Tips Team

Read More

Long-term market trend still in upmode

The stock market swung both ways again last week, but with somewhat larger falls than rallies. The Sensex ended the week 0.65% or 113.58 points lower, and the Nifty 0.61% down. The CNX Midcap Index managed a gain of 0.37%.

ONGC was the biggest winner among index stocks with a 3.3% gain. The other index stocks to go up included NTPC,Reliance Infrastructure, Larsen & Toubro and Hindustan Unilever with gains between 3.1% and 1.0%.

Sterlite Industries was the biggest loser among index stocks with a 4.5% loss. The other index stocks to go down included Jindal Steel & Power, Tata Steel, Hindalco and Cipla with losses falling between 4.3% and 2.9%.

HPCL was the biggest winner among the more heavily traded non-index stocks with an 18.6% gain. The other non-index stocks to go up included VIP Industries, Resurgere Mines & Minerals India, TVS Motor Company, NHPC, Aban Offshore, Insecticides India and Reliance MediaWorks with gains between 12.8% and 7.5%.SEL Manufacturing was the biggest loser among the more heavily traded non-index stocks with a 12.8% loss.

The other non-index stocks to go down included TTK Prestige, Aegis Logistics, Edelweiss Capital, MMTC, Sesa Goa, Cairn India and United Phosphorus with losses falling between 8.7% and 4.9%.

INTERMEDIATE TREND: The market is now in a confirmed intermediate downtrend, which has been on since June 21 with the Sensex topped out at 17,920. The Sensex would start a new intermediate uptrend if it climbs back above 17,800. The equivalent trigger level for the Nifty is 5,350, and that for the CNX Midcap Index is 8,200. (Figures rounded up to the nearest 25).

Almost all the global markets are now in intermediate downtrends, and a global downtrend is on. A majority of indices have fallen to multi-month lows, and our indices are in a relatively better shape by ending the week at one-three week lows.

LONG-TERM TREND: The market’s long-term trend is still not down, as the indices have managed to maintain a sequence of rising intermediate tops and bottoms, barring the last intermediate top which was a whisker below the preceding one for the Sensex and the Nifty. However, the CNX Midcap Index has a higher top. These tops and bottoms have been just 2-3% above their preceding ones, and the long-term trend is best interpreted as sideways, starting in September last year.

The Sensex would enter a bear market if it falls below 15,300, the Nifty under 4,500, and the CNX Midcap below 6,350. The lowest of the last three intermediate bottoms for the indices has been taken as their bear market trigger, in keeping with the sideways long-term view.

This is no longer a broad-based bull market, as nearly a third of the more heavily traded stocks are in longer-term downtrends. The number has been increasing with each intermediate downtrend.

Regards,
Free Indian Stock Tips Team

Read More

Nifty closes above 5350; telecom, banks, metals, realty up

The benchmark Nifty has maintained uptrend for second consecutive day on Friday, led by global cues and closed above 5350 for the first time since June 21, 2010. Telecom, technology (barring TCS), financial, metal, realty and auto companies' shares helped the Sensex to rally 182 points.About 4 lakh shares added in open interest at 5400 call and also good surge in premium of 14.5 points.

The Sensex closed at 17833, up 182 points and the Nifty was at 5352, up 56 points.

Regards,
Free Indian Stock Tips Team

Read More

Today's Free Intraday Stock and Share Tips for July 7th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 7th, 2010
-------------------------------------------------------------------------------------

BHARAT FORGE BUY IN Rs.310 Target1 Rs.318, Target2 Rs.323 and Stop Loss Rs.305


Regards,
Free Indian Stock Tips team

Read More

Sensex ends 173 pts higher on global cues; IT, banks gain

The benchmark Sensex bounced back on Tuesday after witnessing losses for the previous three consecutive days and closed 153 points higher. The rally was led by positive global cues, which was imminent after losses as well as some consolidation in the last few days.

European markets like CAC, DAX and FTSE were trading 2-3% higher while Dow Jones futures gained 1% and Nasdaq futures went up 1.4%, at the time of closing of Indian equities. Even commodities witnessed buying interest; Crude Oil futures rose 1.12% to USD 72.95 a barrel on the New York Mercantile Exchange.

Base metals like copper, zinc, nickel, led, aluminium and tin gained 0.6-1.5% on the London Metal Exchange. Gold went up 0.3% at USD 1210.72 an ounce.

Asian markets also recovered after initial downtrend; Shanghai rose 1.92%. Hang Seng, Jakarta and Taiwan Weighted moved up 1.2-1.5%. Nikkei, Straits Times and Kospi rose 0.6-0.8%.

The 30-share BSE Sensex closed at 17,614.48, up 173.04 points or 0.99% and the 50-share NSE Nifty rose 53.15 points or 1.02% to settle at 5,289.05. The Nifty July futures ended at 11 points premium.

UBS Securities remains positive on India despite global worries, its Head of Research, Suresh Mahadevan, told CNBC-TV18. "The markets are trading at 13 times forward earnings. We are estimating a earnings per share of Rs 1,345 for the Sensex in FY12." He advises buying on dips as valuations are attractive.

However, Gautam Shah of JM Financial remains cautious on Indian markets as he sees them breaking down. "The Nifty may break below 5,050 in the near-term. A 15% fall over the next two months cannot be ruled out."

All the sectoral indices ended in the positive terrain; technology, metal, financial, oil & gas, FMCG and capital goods companies' shares supported the Nifty, which was just 11 points away from the 5300 mark. However, Reliance Communications, Reliance Power, Jaiprakash Associates, Idea Cellular, Hero Honda, ACC, Ambuja Cements and Maruti were the only losers.

Software companies' shares witnessed buying interest ahead of numbers for the quarter ended June 2010. TCS rose 2.7%. Wipro, Infosys and HCL Tech gained 1.3-1.9%.

In the financial space, HDFC Bank and ICICI Bank were up 2-2.55%. SBI was up 1.77% and Axis Bank up 1.4%. Kotak Mahindra Bank, HDFC and IDFC went up 0.2-75%.

Regards,
Free Indian Stock Tips Team

Read More

Sensex trading flat

Nifty was trading flat amid less volatility. It was a lackluster session for the markets on account of strike by BJP. The volumes were sluggish today which clearly indicated lack of participation by investors and traders in market. The turnover might be close to Rs 50,000-60,000 crore at the end of trading session, which will be 40% less than average volume.

The Sensex was up 7.74 points or 0.04% at 17468.69, and the Nifty was up 3.30 points or 0.06% at 5240.40. About 1760 shares advanced, 1199 shares declined, and 365 shares were unchanged.

Buying was seen in pharma, banking, IT and auto stocks. Oil&gas stocks saw some selling pressure. BSE Midcap and Smallcap index were trading in green.

In the largecap space, Reliance Power, PNB, Mahindra and Mahindra, Idea Cellular and GAIL were up 1-1.5%. On the losing side, Reliance Communications, NTPC, Power Grid, BHEL and Hindalco were down 1-1.5%.

Index heavyweight Reliance was trading at Rs 1,066.00 down 0.23% from its previous close of Rs 1,068.45. Tech major Infosys was trading at Rs 2,738.95 up 0.36% from its previous close of Rs 2,729.00. Refinery major HPCL was trading at Rs 469.20 down 1.31% from its previous close of Rs 475.45.

Hindustan Lever was trading at Rs 265.70 down 1.3% from its previous close of Rs 269.20. Cigarette major ITC was trading at Rs 302.55 down 0.03% from its previous close of Rs 302.65.

Top gainers on the BSE Midcap: Trent, IBN18 Broadcast, RCF, Ashok Leyland and United Breweries were up 5-8%.

Top losers on the BSE Midcap: Gee Kay Finance, Andrew Yule, Monnet Ispat, Amtek Auto and MVL were down 2-5%.

Top gainers on the BSE Smallcap: AP Paper Mills, eClerx Services, Jindal Cotex, Empire Industries and Heritage Foods were up 6-11%.

Top losers on the BSE Smallcap: Rollatainers, Sahara One, Atco Corp, Thiru Arooran and Gujarat Natural were down 4-5%.

Regards,
Free Indian Stock Tips team

Read More

Today's Free Intraday Stock and Share Tips for July 5th, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 5th, 2010
-------------------------------------------------------------------------------------

RELIANCE INFRA BUY IN Rs.1195 Target1 Rs.1205, Target2 Rs.1215 and Stop Loss Rs.1185


Regards,
Free Indian Stock Tips team

Read More

RBI ups repo, reverse repo by 25 bps

In an unexpected move, the Reserve Bank of India (RBI), on Friday, raised the repo and reverse repo rates by 25 basis points each. This means that the repo rate, which is the bank's main lending rate, has been hiked from 5.25% to 5.50% and the reverse repo rate, which is the key borrowing rate, has been increased from 3.75% to 4% with immediate effect.

The additional liquidity support to scheduled commercial banks under the LAF to the extent of up to 0.5% of their net demand and time liabilities (NDTL) currently set to expire on July 2, 2010 is now extended up to July 16, 2010.

The RBI explained its dovish step by saying it was a part of the calibrated exit from the expansionary policy.

The rationale

There have been significant macroeconomic developments since the April 2010 Monetary Policy Statement. At the global level, the recovery is strengthening. However, the outlook continues to be clouded by uncertainty in the Euro area.

On the domestic front, the revised growth estimates by the Central Statistical Organisation (CSO) for 2009-10 and for Q4 of 2009-10 suggest that the recovery is consolidating. The manufacturing sector has recorded robust growth in recent months, aided among others, by expanding exports. The strong underlying growth momentum is also evidenced by the sharp upturn in the capital goods sector, acceleration in credit growth and the widening current account deficit. The monsoon situation so far has been decidedly better than during last year holding prospects for good agriculture growth. In its April policy review, the Reserve Bank projected real GDP growth for 2010-11 at 8 per cent with an upside bias. More recent data suggest that the upside bias has largely materialised. The growth projection will be reviewed in the First Quarter Review on July 27, 2010.

The developments on the inflation front, however, raise several concerns. Overall WPI inflation increased to 10.2 in May 2010, up from 9.6 per cent in April 2010. Food price inflation and consumer price inflation remain at elevated levels. There has been some moderation in food price inflation, but the price index of food articles continues to increase. More importantly, the prices of non-food manufactured goods and fuel items have accelerated in recent months. Year-on-year WPI non-food manufacturing products (weight: 52.2 per cent) inflation, which was (-) 0.4 per cent in November 2009 and 5.4 per cent in March 2010, rose further to 6.6 per cent in May 2010. Year-on-year fuel price inflation also surged from (-) 0.8 per cent in November 2009 to 12.7 per cent in March 2010 and further to 13.1 per cent in May 2010. Although entirely justified in terms of long-term fiscal and energy conservation objectives, the recent increase in fuel prices will have an immediate impact of around one percentage point on WPI inflation, with second round effects being felt in the months ahead. Significantly, two-thirds of WPI inflation in May 2010 was contributed by non-food items, suggesting that inflation is now very much generalised and that demand-side pressures are evident.

Regards,
Share to win

Read More

Today's Free Intraday Stock and Share Tips for July 2nd, 2010

-------------------------------------------------------------------------------------
Today's Free Intraday Stock and Share Tips for July 2nd, 2010
-------------------------------------------------------------------------------------

RELIANCE CAPITAL BUY IN Rs.750 Target1 Rs.760, Target2 Rs.765 and Stop Loss Rs.745



Regards,
Share to win

Read More