Pre-Market report on 22.04.2008
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naresh0...@yahoo.co.in
Apr 22, 2008, 12:09:28 AM4/22/08
to Kences1
Subdued trade on cards, Reliance Industries to dictate
===================================================
Wall Street after an amazing run last week cooled off after Bank of
America declared dismal numbers. Dow Jones closed down 24 points to
end the day at 12,825.02, while Nasdaq closed up 5 points at 2,408.
Crude continued to march ahead at a rapid pace to close at USD 117.48,
a barrel on the NYMEX. We are bullish on Dow Jones above 12,750.
Japanese markets dipped down 143 points on negative global cues and
weaker dollar in the early trades.
Petro margins boost Reliance Industries numbers
Boosted by strong refining margins, RIL's net profit rose to Rs.3912
crore from Rs.3156 crore, a year-on-year (YoY) growth of 23.95
percent. Reliance Industries chairman and managing director Mukesh
Ambani said he sees the company's key investments in oil and gas
development and refining to commission this year, and added he expects
them to be key drivers to deliver earnings growth in the near future.
TCS disappoints
TCS declared pathetic Q4 numbers when compared to the peers. The net
profit for the quarter rose marginally to Rs 1,245 crore from Rs 1,195
crore in the year-ago quarter. The net profit dipped by about 6.17 per
cent in comparison with the third quarter of the last fiscal. But the
company appears to be upbeat about the future. Markets are likely to
give a thumbs down to the stock today. Meanwhile Satyam Computer
Services announced a 17.84 per cent jump in its January-March quarter
profit after tax at Rs 468.45 crore. Satyam had reported a PAT of Rs
397.51 crore for the fourth quarter ended March 31, 2007.
In terms of performance Infosys appears to be a clear winner among the
large cap IT pack, while Mindtree took honours in the midcap IT space.
Reliance Industries might save the day for the Indices and is likely
to propel stocks from the Oil & Natural gas space.
Midcaps rule the roost
There is no stopping for the midcaps, which were beaten black and blue
earlier. We are ardent favourites of the good midcap stocks as the
growth potential is immense. We expect the trend to continue today
also.
Market Close Box
BSE Sensex 16761.06 279.86
NSE Nifty 5039.35 80.95
USD Rs.39.89
Oil Nymex $117.4
D.Naresh Kumar
Research Dept.
===================================================
Wall Street after an amazing run last week cooled off after Bank of
America declared dismal numbers. Dow Jones closed down 24 points to
end the day at 12,825.02, while Nasdaq closed up 5 points at 2,408.
Crude continued to march ahead at a rapid pace to close at USD 117.48,
a barrel on the NYMEX. We are bullish on Dow Jones above 12,750.
Japanese markets dipped down 143 points on negative global cues and
weaker dollar in the early trades.
Petro margins boost Reliance Industries numbers
Boosted by strong refining margins, RIL's net profit rose to Rs.3912
crore from Rs.3156 crore, a year-on-year (YoY) growth of 23.95
percent. Reliance Industries chairman and managing director Mukesh
Ambani said he sees the company's key investments in oil and gas
development and refining to commission this year, and added he expects
them to be key drivers to deliver earnings growth in the near future.
TCS disappoints
TCS declared pathetic Q4 numbers when compared to the peers. The net
profit for the quarter rose marginally to Rs 1,245 crore from Rs 1,195
crore in the year-ago quarter. The net profit dipped by about 6.17 per
cent in comparison with the third quarter of the last fiscal. But the
company appears to be upbeat about the future. Markets are likely to
give a thumbs down to the stock today. Meanwhile Satyam Computer
Services announced a 17.84 per cent jump in its January-March quarter
profit after tax at Rs 468.45 crore. Satyam had reported a PAT of Rs
397.51 crore for the fourth quarter ended March 31, 2007.
In terms of performance Infosys appears to be a clear winner among the
large cap IT pack, while Mindtree took honours in the midcap IT space.
Reliance Industries might save the day for the Indices and is likely
to propel stocks from the Oil & Natural gas space.
Midcaps rule the roost
There is no stopping for the midcaps, which were beaten black and blue
earlier. We are ardent favourites of the good midcap stocks as the
growth potential is immense. We expect the trend to continue today
also.
Market Close Box
BSE Sensex 16761.06 279.86
NSE Nifty 5039.35 80.95
USD Rs.39.89
Oil Nymex $117.4
D.Naresh Kumar
Research Dept.
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