Market may open higher; TCS's Q3 results in focus

The market may open higher on mostly higher Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 18 points at the opening bell. IT major, TCS announces Q3 results today, 14 January 2013. On macro front, the Central Statistics Office (CSO) will unveil data on inflation based on the combined consumer price index CPI) for urban and rural India and also inflation based on the wholesale price index (WPI) both for December 2012, today, 14 January 2013. WPI inflation is projected to rise to 7.3% in December 2012 from 7.24% in November 2012, as per the median estimate of a poll of economists carried out by Capital Market. Among the components of WPI inflation, the non-food manufacturing inflation or core inflation had hit 2-1/2-year hit low at 4.49% in November 2012. Inflation based on the consumer price index (CPI) edged up to 9.9% in November 2012 from 9.75% in October 2012. Petronet LNG's net profit rose 7.82% to Rs 318.50 crore on 31.52% rise in total income to Rs 8347.69 crore in Q3 December 2012 over Q3 December 2011. The company announced Q3 results before market hours today, 14 January 2013. Jaiprakash Power Ventures reported a net loss of Rs 97.58 crore in Q3 December 2012 compared to net profit of Rs 59.52 crore in Q3 December 2011. Total income rose 4.93% to Rs 438.31 crore in Q3 December 2012 over Q3 December 2011.The company announced Q3 results before market hours today, 14 January 2013 The results under review are in respect of 300 mega watts (MW) Jaypee Baspa II H.E. Plant, 400 MW Jaypee Vishnuprayag H.E. Plant, 1000 MW Jaypee Karcham Wangtoo H.E. Plant and Unit 1 of 2 X 250 = 500 MW Jaypee Bina Thermal Power Plant. The Jaypee Bina Thermal Power Plant had commenced commercial operation of its first unit of 250 MW on August 31, 2012, therefore the results of the current quarter are not comparable with the figures of corresponding quarter of previous year. Jaiprakash Power Ventures said that the board of directors of the company at its meeting held on January 12, 2013, has authorised, subject to approval of the shareholders by passing the resolution by way of postal ballot, raising of funds / resources upto Rs 3500 crore through various Domestic/International options, including QIP/ ECB with rights of conversion into shares / FCCBs/ ADRs/ GDRs/ FPO/ Optionally or Compulsorily Convertible Redeemable Preference Shares etc., pursuant to Section 81 of the Companies Act, 1958 for the company's ongoing projects and/or the projects of its joint venture and subsidiary companies. FMCG and agri-sector stocks will be in focus after the Centre said after trading hours on Friday, 11 January 2013, said that as per reports received from various states, sowing of rabi or winter crops so far this year has exceeded the area sown by this time last year. FMCG firms derive substantial revenue from rural India. The total rabi sown area stands at 580.83 lakh hectares (LH) against 578.34 LH during same time last year. The Election Commission on Friday, 11 January 2013, said that assembly polls will be held in Tripura on 14 February 2013. Assembly polls in two other states viz. Meghalaya and Nagaland will be held on 23 February 2013. The counting of votes for assembly elections held in Tripura, Meghalaya and Nagaland will take place on the same day on 28 February 2013. The focus on the stock market is currently on Q3 December 2012 results. Investors and analysts will closely watch the management commentary that would accompany the result which could cause revision in their future earnings forecast of the company for the current year and or next year. Axis Bank announces Q3 results tomorrow, 15 January 2013. Bajaj Auto unveils Q3 results on 16 January 2013. Hero MotoCorp announces Q3 results on 17 January 2013. HCL Technologies announces its Q2 December 2012 results on the same day. Reliance Industries, Wipro, HDFC Bank and ITC unveil Q3 results on 18 January 2013. UltraTech Cement unveils Q3 results on 19 January 2013. HDFC, NTPC, Asian Paints and Cairn India unveil Q3 results on 21 January 2013. Kotak Mahindra Bank unveils Q3 results on 22 January 2013. L&T unveils Q3 results on 24 January 2013. Maruti Suzuki India unveils Q3 results on 25 January 2013. ICICI Bank and Grasim Industries unveil Q3 results on 31 January 2013. Siemens will unveil its Q1 December 2012 results on 31 January 2013. IDFC announces Q3 results on 1 February 2013. Mahindra & Mahindra and Hindalco Industries unveil Q3 results on 8 February 2013. The barometer index, BSE Sensex, ended almost unchanged for the day on Friday, 11 January 2013 as gains a rally in IT stocks offset decline in index heavyweights ITC and Reliance Industries (RIL). The 50-unit S&P CNX Nifty edged lower on that day. The Sensex settled almost unchanged for the day at 19,663.64 on Friday. Foreign institutional investors (FIIs) bought shares worth a net Rs 825.18 crore on Friday, 11 January 2013, as per provisional data from the stock exchanges. Most Asian stocks rose on Monday, 14 January 2013. Key benchmark indices in China, Hong Kong, Indonesia, and South Korea rose by 0.2% to 0.75%. Key benchmark indices in Singapore and Taiwan fell by 0.7% to 0.74%. Bank of Japan holds a two-day meeting on interest rates in Japan on 21 and 22 January 2013. U.S. stocks ended little changed on Friday, 11 January 2013 with Wells Fargo & Co. weighing on the financial sector after the bank reported a decline in its net interest margin. The Federal Open Market Committee (FOMC) holds a two-day meeting on interest rates in the United States on 29 and 30 January 2013.