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Equity Research Report: Religare Morning Digest

Market Outlook for the day - Possibility of some profit taking from the current levels cannot be ruled out but the overall bias still remains in favor of the bulls.
31 Oct 2013 | 07:00 AM
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    Highlights for Today
Market Outlook for the day - Possibility of some profit taking from the current levels cannot be ruled out but the overall bias still remains in favor of the bulls.
Key Indices – Levels to watch out for the day
INDEX (Spot) RESISTANCE 2 RESISTANCE 1 LTP SUPPORT 1 SUPPORT 2
SENSEX 21360 21180 21033.97 20940 20800
NIFTY 6360 6300 6251.70 6220 6170
BANK NIFTY 11600 11380 11249.35 11170 11000
CNXIT 8950 8880 8835.15 8770 8700
 
Corporate News

Lupin consolidated net profit surged 40% to Rs 406.20 crore on 18% growth in net sales to Rs 2631.50 crore in Q2 September 2013 over Q2 September 2012.

Havells India net profit surged 44.55% to Rs 125.72 crore on 22.31% growth in total income to Rs 1181.76 crore in Q2 September 2013 over Q2 September 2012.

Jindal Steel & Power (JSPL)'s consolidated net profit tumbled 49.62% to Rs 452.07 crore on 4.96% increase in total income to Rs 4968.71 crore in Q2 September 2013 over Q2 September 2012.

OBC’s net profit declined 16.8% to Rs 251.41 crore on 3.45% growth in total income to Rs 4987.71 crore in Q2 September 2013 over Q2 September 2012.

Bharti Airtel consolidated net profit fell 29% to Rs 512 crore on 9.9% increase in total revenues to Rs 21324 crore in Q2 September 2013 over Q2 September 2012.

Grasim Industries consolidated net profit fell 27.42% to Rs 450 crore on 3.54% increase in revenue to Rs 6849 crore in Q2 September 2013 over Q2 September 2012.

LIC Housing Finance net profit surged 27.57% to Rs 310.07 crore on 23.66% growth in total income to Rs 2302.41 crore in Q2 September 2013 over Q2 September 2012.

Results on October 31, 2013: Balrampur Chini, Bank of India, Bank of Baroda, Century Textiles, Dr. Reddy, Gillette India, IDFC, Jindal Saw, Union Bank
 
    Trading/ Investment Ideas
Technical Calls
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
PUNJLLOYD BUY 28.4 28-28.2 27 30.5 3-5 DAYS
 
Derivatives Call
Company
Name
Recommendation CMP Initiation
Range
Stop
loss
Target Time
Frame
ITC BUY OCT FUT 335.8 330-332 325 345 3-5 DAYS
 
Fundamental Picks for delivery (1 - 2 Years)
Large Caps Bajaj-Auto, HCL Tech, HUL, M&M, NTPC, Sun Pharma, Lupin, ITC, L&T, TCS, Adani Ports&SEZ
Midcaps & Small Caps Amara raja batteries, GCPL, Bata India, Shriram Transport Finance,
M&M Financial Services, Havells India, Bajaj Corp Ltd, LIC housing, Yes Bank
Note – For our running recommendations and past performance, please click here
    Market Roundup
 
Key benchmark indices edged higher as Asian and European stocks rose on speculation Federal Reserve policy makers won't announce any major changes to monetary stimulus in a two day meeting closed on 30 October 2013. BSE Sensex closed above the psychological 21,000 mark, having alternately moved above and below that level in intraday trade. The Sensex and the CNX Nifty, both, hit their highest level in nearly three years. Pharma and FMCG performed better and its BSE indices closed more than 1% up. The market breadth was positive.
 
Regenerate OTP
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