India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Monday, May 30, 2011
Market may open flat to slightly higher; ONGC in focus on Q4 results
The market may open flat to slightly higher after previous two days gains. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 3 points at the opening bell. Foreign institutional investors (FIIs) bought shares worth Rs 222.03 crore and domestic funds bought shares worth Rs 388.25 crore on Friday, 27 May 2011, as per provisional figures released by the stock exchanges.
ONGC, M&M, Reliance Communications, Indian Oil Corporation, BPCL and National Aluminum Company are set to unveil Q4 results today, 30 May 2011.
Daily News Roundup - May 30 2011
Minister panel wants Cairn and Vedanta to bear the royalty burden for the Rajasthan oil fields. (BL)
The CBI is probing Idea Cellular and the Tatas for alleged violation of licence conditions in 2005-06. (ET)
DLF to mop up Rs70bn from sale of 5 IT Parks & Hotel business. (ET)
ACC plans million-ton cement unit in Udupi district. (BS)
ABB plans Rs1.15bn unit in Karnataka. (BS)
Aban Offshore plans to raise US$400mn. (BS)
Canara Bank to open 100 rural branches this fiscal. (BL)
Reliance Industries buys gas from Petronet, Shell for captive use. (BS)
Tata Chemicals acquires 16.7mn shares in EPM Mining, US. (BL)
Sensex ends week static...Still in red for May
Indian stock indices recovered towards the end of the week from an 8-week low, as investors ignored the rise in food inflation and bought across sectors. Strong Q4 earnings posted by the likes of Tata Steel and Coal India boosted investor sentiment. On the whole, the Indian market was volatile through the F&O week. Finally, the Sensex and the Nifty closed flat at 18,264 and 5,476 respectively.
Oil & gas stocks advanced led by gains in ONGC after an oil ministry official said the government may raise diesel prices, a move that could reduce the company’s share of the cost to subsidize fuel prices. Most banking shares rose on bargain hunting after recent steep slide.
Sluggish start seen...earnings to hold sway
"Opportunity follows struggle. It follows effort. It follows hard work. It doesn't come before." - Shelby Steele.
May hasn’t provided too many opportunities to investors as far as the Indian equities are concerned. It has been a hard grind with the key indices down 5-6%. FIIs have been net sellers amid concerns that sticky inflation will hit economic growth and earnings. There have been a few negative surprises in Q4 results. Global markets have been wobbly too amid a spate of pressure points.
Markets register modest losses this week
Losses were limited this week, with the Sensex closing lower by 60 points and the Nifty down 10 points.
Major headlines of the week
Food inflation at 8.55% versus 7.47%
BHEL net profit up 47% in Q4
DLF Q4 net profit at Rs737 crore
Tata Steel FY11 consolidated net profit at Rs8,993 crore
Upstream companies subsidy share to be restored at 33.3%
Crude closes above $100 mark
Mixed economic data keep price gains under check
Crude oil prices ended higher on Friday, 27 May 2011 at Nymex. But gains were capped by mixed set of economic data. Prices rose on Friday as ongoing problems of the Eurozone and the weak dollar. Renewed concerns about unrest in Middle East and North Africa pushed up prices further.
Sunday, May 29, 2011
Subscribe to:
Posts (Atom)