Tecpro Systems
India Equity Analysis, Reports, Recommendations, Stock Tips and more!
Search Now
Recommendations
Sunday, July 10, 2011
Monsoon covers more parts of Gujarat and Rajasthan
The southwest monsoon has further advanced over remaining parts of Gujarat and some more parts of Rajasthan, the Indian Meteorological Department (IMD) said. Conditions are favourable for further advance of southwest monsoon over remaining parts of Rajasthan and thus would cover the entire country during the next 23 days, the weather office said.
Monsoon rains were 25% below normal in the week ended July 6, slowing from the 10% above average rains in the previous week, the IMD said on Thursday. The slowing rains reflect a weakness in the monsoon over rice, cotton and oilseeds growing areas of east, west and central India. But the weekly rains were above normal over the cotton and rice growing areas of Andhra Pradesh.
Gross direct tax collections up 23.91% in Q1 FY12
Gross direct tax collections during the first quarter of the current fiscal (April - June 2011) were up by 23.91%. Gross direct tax collections rose to Rs. 1,04,136 crore as against Rs. 84,041 crore during the same period last year. Gross collection of Corporate Taxes was up by 23.49% and stood at Rs. 68,223 crore against Rs. 55,244 crore in the same period last year. Gross collection of personal income tax was up by 24.63% which rose to Rs. 35,859 crore as against Rs. 28,772 crore during the same period last year. Net tax collections, however, stood at Rs. 57,268 crore, down from Rs. 68,675 crore in the same period in last fiscal. This was on account of an increase of 205.01% in tax refunds, which stood at Rs. 46,868 crore as against Rs. 15,366 crore in the same period during the last fiscal.
Weekly Newsletter - July 10 2011
It was a fairly choppy week. The main stock indices gained ~0.5% each, thanks to a big rally on Thursday. Some of those gains were wiped out on Friday. More pain could be in the offing following a dismal US jobs report. Over the weekend, China will release its trade data and ECB president Trichet will deliver a speech.
US trade balance and FOMC minutes will be out on July 12. A spate of important Chinese statistics, including Q2 GDP report, will be issued on July 13. Fed chief Ben Bernanke will testify before the Congress. European banks’ stress-test results are due on July 15. A lot of other global data points will also be watched closely.
Back home, the Government will release IIP and inflation data next week while the pace of the results announcement will accelerate. Infosys, TCS, Bajaj Auto, JSW Steel, Canara Bank, Godrej Properties, LIC Housing and Coal India will declare their Q1 earnings.
Since the Nifty failed to close above 200-DMA, that level will be crucial from short-term trading perspective. It is expected to find support between 5500 and 5600. FII flows will be another key factor to keep in mind.
Friday, July 08, 2011
Infosys Q1 results in focus
The crucial corporate earnings season has just begun. Investors will closely watch the post-Q1 June 2011 result management commentary to gauge the future earnings outlook at a time when firms are witnessing cost pressures amid rising interest rates and staff costs. A hike in transportation costs will add to cost pressure of India Inc. As per reports, freight rates have gone up by 8% to 9% on all routes across India following the recent hike in diesel prices.
BSE Mid-Cap, Small-Cap indices outshine Sensex
Volatility ruled the roost as the barometer index BSE Sensex fell below the psychological 19,000 level, a day after regaining that mark on Thursday, 7 July 2011. Investors were cautions ahead of the onset of the Q1 June 2011 earnings season.
The Sensex rose 95.24 points or 0.51% to 18,858.04 in the week ended Friday, 8 July 2011. The 50-unit S&P CNX Nifty rose 33.45 points or 0.59% to 5660.65. The BSE Mid-Cap index jumped 94.64 points or 1.37% to 6,996.31. The BSE Small-Cap index rose 150.73 points or 1.83% to 8,375.14. Both the BSE Small-Cap, Mid-Cap indices outperformed the Sensex.
Mining, metal stocks tumble as market retracts from 9-1/2-week high
Mining and metal stocks led decline on the bourses as profit booking emerged after recent strong rally in share prices. Mining and metal stocks tumbled on reports a panel of ministers has approved the draft Mining Bill, which calls for miners to give to local communities an amount equivalent to royalties so as to compensate people displaced by such projects. The barometer index BSE Sensex fell below the psychological 19,000 level, a day after regaining that mark on Thursday, 7 July 2011. The Sensex ended 220.26 points or 1.15% lower, off 273.66 points from the day's high and up 40.33 points from the day's low. The market breadth was weak.
BSE Bulk Deals to Watch - July 8 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
8/7/2011 531761 Amulya Leas RITESH STOCK BROKING PRIVATE LIMITED B 25100 45.60
8/7/2011 531761 Amulya Leas RAJESH GUPTA B 41914 45.50
8/7/2011 531568 Ashutosh Paper HIGH VALUE TRADERS PVT LTD B 35000 144.49
8/7/2011 533469 BIRLAPACIFIC V P PATEL S 1411946 22.00
8/7/2011 500077 Cable Corp CLAREVILLE CAPITAL INDIA MASTER FUND LIMITED B 1900000 29.00
Subscribe to:
Posts (Atom)