MIC Electronics Ltd
Friday, February 04, 2011
Wipro CFO sells more than half of his company shares. (BS)
Infosys is rehauling its hierarchical system and making internal process more flexible for young employees to stem attrition and attract talent. (ET)
NTPC will not open price bids for the Rs110bn bulk equipment supply tender on Friday. (ET)
Truth makes many appeals, not the least of which is its power to shock. - Jules Renard.
Thank god there was no afternoon shocker on Thursday as was the case on Wednesday. After a five-day rout we had a solid advance. This could sustain as FIIs were net buyers after a long hiatus. Also, the Nifty breached short term resistance of 5470 and closed above 5500. Some short covering is expected around 5550, which may take the Nifty to 5570. A close above 5650 might just shore up investor confidence.
After failing to drive home the advantage in the previous session, the bulls managed to dominate the proceedings on Indian bourses in today’s session. Although a five-day losing sequence was broken on Wednesday, it lacked the punch and strength. But, today was different, with the BSE Sensex cracking a triple ton and the NSE Nifty nearly clocking a triple-digit gain.
Owing to the current global scenario, the Indian indices are likely to open on a flat note. Hind Copper, NCC, Cipla, Suzlon will declare results
Headlines for the day:
Reliance hires advisors to explore Atlas options
Infra fin cos to raise Rs5,000 crore via bonds
SAIL decides to retain merchant bankers for Rs8,000 crore FPO