Highlights for Today
Market Outlook for the day – Considering current chart patterns, we are keeping a cautious view on the market. Thus, the day traders are advised to keep tight stop losses.
Tata Motors’ consolidated net profit for the October-December quarter was Rs 4,805 crore, compared to Rs 1,630 crore a year ago, which was boosted by strong demand for its luxury Jaguar Land Rover vehicles.
TV18 Broadcast consolidated net profit surged 142.72% to Rs 51.70 crore on 2.55% growth in operating revenue to Rs 525.50 crore in Q3 December 2013 over Q3 December 2012.
Hindustan Construction Company said that it has bagged orders worth Rs 725 crore in various business segments.
Oriental Bank of Commerce said that is likely to sell in this quarter bad loans worth Rs 800-1,000 crore to asset reconstruction firms.
India Cements’ net profit to decline by 98% to Rs 0.42 crore in the quarter ended December 31, 2013. Total income fell to Rs1,037.64 crore from Rs 1,083.88 crore.
Results on 11 Feb 2014: DB Realty, Dr. Reddys Lab, Everest Kanto, GMR Infra, HCL Infosystems, HPCL, JK Tyre, Pratibha Industries, Prism Cement, Tata Steel
Key benchmark indices edged lower in a choppy trading session as the market sentiment was affected adversely by data showing that foreign funds remained net sellers of Indian stocks on Friday. The market edged higher in early trade. It swung between gains and losses in mid-morning trade. It continued to trade in a narrow range near the flat line in mid-afternoon trade. It weakened and hit fresh intraday low in late trade. The market breadth, indicating the overall health of the market, was positive.