Helping You Build Wealth With Honest Research
Since 1996. Read On...

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Profit booking drags indices
Fri, 23 Jul 01:30 pm

Indian indices shed their gains on profit booking in heavy weights during the last two hours of trade. Stocks from consumer durable and capital goods space are trading firm while stocks from the realty and metal space are trading weak.

The BSE-Sensex is trading up by 21 points while NSE-Nifty is trading 5 pints above the dotted line. BSE-Midcap index is trading flat while and BSE-Smallcap index is trading 0.2% below yesterday's closing. The rupee is trading at 47.01 to the US dollar.

IT stocks are currently trading mixed with HCL Tech and Infosys trading firm and TCS and Tech Mahindra trading weak. IT major, Wipro announced its results today. The company has reported a growth of about 4% QoQ in revenues during the quarter. Growth was largely volume driven, with all its segments (except for IT products) reporting an increase in numbers. The company's IT services business, which contributes to nearly 76% of total revenues, reported a 5% QoQ increase. Wipro's IT products business, which forms nearly 11% of total revenues, reported a decline of 6.5% QoQ. Wipro's operating profits increased at a faster pace (7.4% YoY) as compared to the revenues growth, on the back of a 0.8% QoQ expansion in margins, which stood at 22.6% during the quarter ended June 2010.

The company added 4,854 (net employees) during the quarter, taking its total employee strength to 112,925. However, the attrition rate stood at 15.8%, which is a concern for the company. Further, the company's IT services segment added 22 new clients during the quarter, thereby taking the total count of active clients to 858.

Banking stocks are trading mixed with Indusind Bank and Axis Bank trading firm and Bank of India and HDFC Bank trading weak. As per a leading daily, State Bank of India has raised US$ 1 bn through a bond issue to qualified institutional buyers. The issue is in the form of unsecured bonds due in 2015 and is priced at a coupon rate of 4.5% per annum. This issue will help improve the bank's capital adequacy ratio and help the bank grow its asset book. SBI is also planning a rights issue this fiscal subject to government approval.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Profit booking drags indices". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Research Private Limited (formerly Equitymaster Agora Research Private Limited) (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.