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Sunday, January 23, 2011
Results of the DP Group Survey
Do you actively read the mails sent to the group?
Yes 131 (94%)
No 9 (6%)
Do you click on the links in the mails ?
Yes 126 (90%)
No 14 (10%)
When do you read the group mail ?
Morning 32 (23%)
Evening 33 (24%)
Both 78 (56%)
(People may select more than one checkbox, so percentages may add up to more than 100%.)
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Yes 109 (78%)
No 4 (3%)
Slightly 27 (19%)
(People may select more than one checkbox, so percentages may add up to more than 100%.)
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Weekly Stock Picks - Jan 23 2011
Buy Mphasis
Buy Central Bank of India
Buy Pantaloon Retail
Buy M&M
Buy IRB Infra
Weekly Newsletter - Jan 23 2011
After a two-week drubbing, the market managed to claw its way back somewhat but the undertone is still fragile in the face of concerns over near-term headwinds like FII outflows, governance deficit, economic slowdown and high inflation. Results have started pouring in but are mostly in line with estimates. As always, there have been a few positive surprises and a few nasty ones as well. Globally, things appear to be more or less quiet with global indices continuing their outperformance vis-à-vis India.
Food inflation moderates further to 15.52 %
Food inflation in India moderated for the second week in a row in the early part of January after spiking to nearly a two-year peak in late December, providing some more relief to both policymakers and consumers alike. The annual rate of inflation in the sensitive Food Articles space decreased in the week ended January 8, data released by the Government showed.
This was the second decline in food inflation after rising for five consecutive weeks. Inflation in the Food Articles group fell to 15.52% in the week ended January 8 from 16.91% in the week ended January 1, the Union Commerce & Industry said. Inflation in the Food Articles space was at 18.62% in the year-ago period.
India on a roll...12 MF schemes feature in Best 25 list
That India is on the move is a well articulated fact. And, when an economy consistently does well for a number of years, naturally there is a cascading effect on the capital market as well. India is no exception to that age-old economic rule. Its stock market has gained substantially in terms of market cap as well as in its stature among the world's top markets in the world. Last year's record FII inflow and the huge interest in new issues is ample proof of that.
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Bajaj Auto
Bajaj Auto has put up a strong show in the quarter ended December 2010 despite rising input costs and interest rate hikes that would have a bearing on sales.
This performance has been aided by good volumes, greater realisations and superior margins. We reiterate a buy at the current market price of Rs 1311. At this level, the stock trades at PE of 15 times its trailing twelve month earnings and 13 times its estimated earnings for FY12.
Axis Bank
Axis Bank, with its large deposit base and fee income, may be among the private banks best placed to thrive in a rising interest rate scenario. The bank has continued to deliver strong profit growth (35 per cent for the nine months ended December 2010) on a high base.
Markets indicate bounce is overdue
The Sensex exhibited choppy movement in a rather narrow trading band this week. The BSE benchmark index from a low of 18,779, rallied to a high of 19,167, and eventually ended with a gain of 147 points at 19,008. The intra-week range was just 390 points as against 908 points and 1,035 points in the preceding two weeks.
The good news is that the Sensex managed to hold its head above the 200-DMA (Daily Moving Average) on the daily charts, which is now at 18,717. And secondly, it also took support close to the lower end of the Bollinger Band on the weekly charts, which is 18,745. Further lower, the Sensex has support at 18,400, the medium-term (50-weeks) moving average. Deeper down, the index has strong support around 18,425 as per the yearly Fibonacci chart.
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