| Highlights for Today |
| Market Outlook for the day - Going forward, we expect positive bias to prevail and 6150 is the probable target in near future. |
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| Key Indices – Levels to watch out for the day |
| INDEX (Spot) |
RESISTANCE 2 |
RESISTANCE 1 |
LTP |
SUPPORT 1 |
SUPPORT 2 |
| SENSEX |
20230 |
20080 |
19958.47 |
19780 |
19690 |
| NIFTY |
6100 |
6050 |
6009.00 |
5950 |
5920 |
| BANK NIFTY |
11980 |
11860 |
11722.80 |
11590 |
11500 |
| CNXIT |
7360 |
7280 |
7249.40 |
7150 |
7000 |
|
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Corporate News
Infosys net profit grew 3.7% to Rs 2,374 crore compared with Rs 2,289 crore in the same period last year, while revenues grew 17.2% to Rs 11,267 crore. On a sequential basis, however, the net profit was down 0.8 per cent while revenues grew 7.8%.
Sun Pharmaceutical Industries has received final approval from the US health regulator for its generic Repaglinide tablets used for the treatment of diabetes. The company is eligible for a 180-day marketing exclusivity in the US as its subsidiary is the first-to-file an abbreviated new drug application (ANDA) for the product with a para IV certification.
Dr Reddy’s Laboratories has launched Decitabine for Injection (50mg), a therapeutic equivalent generic version of Dacogen (Decitabine for Injection) in the US market.
Sintex Industries consolidated net profit fell 0.36% to Rs 46.62 crore on 4.40% increase in total income from operations to Rs 1128.11 crore in Q1 June 2013 over Q1 June 2012.
Elder Pharmaceuticals board has approved the proposal for carrying out restructuring of company's business to reduce the debt.
IVRCL has secured new orders aggregating Rs 1097.57 crore across its various business segments.
Economy News
India’s industrial output growth rate contracted by 1.6 percent in May after showing 2.3 percent growth in the previous month. |
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| Trading/ Investment Ideas |
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| Technical Calls |
Company
Name |
Recommendation |
CMP |
Initiation
Range |
Stop
loss |
Target |
Time
Frame |
| DABUR |
BUY |
158.55 |
156-157 |
154 |
165 |
3-5 DAYS |
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| Derivatives Call |
Company
Name |
Recommendation |
CMP |
Initiation
Range |
Stop
loss |
Target |
Time
Frame |
| INDUSINDBANK |
SELL JULY FUT |
505 |
509-511 |
519 |
493 |
3-5 DAYS |
|
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| Fundamental Picks for delivery (1 - 2 Years) |
| Large Caps |
ACC, Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC, L&T, TCS, Adani Ports&SEZ |
| Midcaps & Small Caps |
GCPL, Bata India, Shriram Transport Finance,
M&M Financial Services, Havells India, Bajaj Corp Ltd, LIC housing, Yes Bank |
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| Note – For our running recommendations and past performance, please click here |
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| Market Roundup |
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| Key benchmark indices surged after IT major Infosys kicked off the Q1 earnings season by reiterating its revenue guidance for the current year. Gains in European stocks also aided gains on the domestic bourses the barometer index, the S&P BSE Sensex, hit 6-week high. On macro front, India's merchandise exports declined 4.56% to $23.785 billion in June 2013 over June 2012. Imports rose 0.37% to $36.034 billion. Oil imports jumped 13.74% to $12.767 billion. Non-oil imports declined 6.71% to $23.267 billion. |
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