Market Outlook:
Markets opened on subdued note witnessed selling in the latter half of the session to close in red. On the sectoral front Oil & Gas, Bankex, Realty contributed to the fall whereas Health Care, IT and Consumer Durable ended with marginal loses. The Advance decline ratio was in favour of declining counters (Advances = 1047/ Declines=1657).
Pattern Formation: On the Daily chart, for the fourth consecutive trading sessions we are witnessing narrow range body formation. Further, the 20-day EMA and the 200-day SMA is on the verge of giving a negative crossover. This is sign of weakness.
Future Outlook: In view of the above formation on the daily chart, it is evident that markets are cautious at current level. In coming trading session 4874 is crucial level, if breached then nifty may test 4850 - 4820
level. On the flip side, if nifty for the first hour manages to trade and close above 4910 level then only a pullback up to 4940 - 4980 levels could be expected, as hourly are extremely over sold.
Data Alert From Overseas –
• French Prelim GDP q-o-q at 11:00 am.
• German Prelim GDP q-o-q at 11;30 am
• Europe Flash GDP q-o-q at 2:30 pm.
Domestic Sector News –
• AVIATION: Air India's board has approved a 50-bln-rupee asset monetization plan under a financial restructuring plan. As per the plan approved by the government, Air India plans to monetise assets worth 5 bln rupees every year.
• INFORMATION TECHNOLOGY: NASSCOM has stuck to its 2012-13 (Apr-Mar) growth forecast of 11-14% for the industry.
• OIL & GAS: State-owned oil retailers are pushing the government to allow a hike of 8 rupees a litre in petrol prices.
• TELECOM: The Telecom Commission will meet on May 24 to discuss TRAI's recommendations on auctioning spectrum.The government will focus first on TRAI's recommendations on 2G spectrum auction, and then address the department's other recommendations. TRAI favours lowering foreign direct
investment limit in tower firms to 74% from 100% now
Domestic Stock Specific News -
• India Apr WPI inflation rate 7.23% vs 6.89% Mar.
• Moody's cuts fincl strength rtg of ICICI Bk, HDFC Bk, Axis Bk, LIC.
• Moody's cuts LIC FX insurance fincl strength rtg to Baa3 vs Baa2.
• Speciality Restaurants sets IPO price band at 146-155 rupees/shr.
• IMD likely to forecast southwest monsoon onset date on Tue.
• Jain Irrigation to acquire Kibbutz Naan's 50% stake in JV co.
• BHEL gets 3.80-bln-rupee order for 160 MW Rajasthan power plant.
• Sun Pharma gets US FDA OK for generic of Parkinson's drug Stalevo.
International News -
• Industrial production in the eurozone fell by 0.3% in March.
Today’s Result –
Abirlanuvo, Advanihotr , Akzoindia , Adhunik , Agrodutch ,Alchem , Cumminsind , FSL ,Amar , DCHL , Gammonind ,Amlsteel , Dcmfinserv, Gisolution ,Anikinds , Deccance , GSS ,AQUA , DEN , Guficbio ,Arihant, Dhampursug, Harrmalaya, Assamco , Dishman , HCIL, Atul, Dynamatech, Heliosmath, Austral, Easunreyrl , Hindnatgls, Bang , Elderpharm, Hindujafo, BANKBARODA
, Emamiinfra, Horizoninf ,Bglobal, EMCO, Icsa ,Bilenergy , Emtexind , Il&fsengg, Birlapower, Erainfra , Indiainfo, Celebrity, Esselpack, Indothai ,Cmahendra , Eurocera , Indowind ,Consofinvt , Euromulti , Indswftltd ,Cranessoft , Firstwin, Indterrain ,Infinite, Pael, Shreecem, Jaibalaji, Pantaloonr, Simbhsugar, Jindcot, Paracables, Sirpaper, Jktyre, Paral, Srhhlindst ,Karmaeng , Paraspetro, Srhhypoltd, Karurkcp, Pateleng, Sterlinbio, Kesarent, Pbainfra, Stertools, KGL, Pioneeremb, Supremeinf ,Kineticmot, Plethico, Suryapharm, Kndengtech, Praeng, Taksheel, Kohinoor, Rajvir, Teledatait, Kopran , Ramsarup , Thomascott, Logixmicro , Ranasug , irumalchm ,Lumaxauto , Ranklin, Tulip, Lykalabs , Regenceram , Tulsyan ,Madrasfert , Relmedia , Twilitaka , Mahscooter , Rkdl , Ugarsugar ,Mawanasug , Ruchira , Unitech ,Metkore , S&spower , Valueind , Mmtc , Sagcem , Varunship ,Muthootfin , Sakuma , VHL ,MVL , Salsteel , Videoind ,Nehaint , Samtel , Vipul ,Neocure , Shahalloys ,
Viseshinfo ,Oisl , Shiv‐vani , Visuintl ,Orginfo , Zenithcomp , Zenithinfo
Results Announced on 14-05-2012 -
• Adani Power Jan-Mar net loss Rs. 290.16 cr rupees vs profit of Rs. 174.32 cr rupees (Y-o-Y).
• Larsen & Toubro Jan-Mar net profit 4456.50 cr rupees vs Rs. 3957.89 cr rupees (Y-o-Y).
• Compact Disc Jan-Mar net profit 3.76 cr rupees vs 6.53 cr rupees (Y-o-Y).
• JSW Steel Jan-Mar net profit 752.18 cr rupees vs 832.66 cr rupees (Y-o-Y).
• Indraprastha Gas Jan-Mar net profit 80.75 cr rupees vs 69.15 cr rupees (Y-o-Y).
• Dolphin Offshore Jan-Mar net profit 6.17 cr rupees vs 11.73 cr rupees (Y-o-Y).
• CCL Products Jan-Mar net profit 16.72 cr rupees vs 9.16 cr rupees (Y-o-Y).
• Monnet Ispat Jan-Mar net profit 83.09 cr rupees vs 76.57 cr rupees (Y-o-Y).
• ARSS Infrastructure Jan-Mar net loss 72.96 cr rupees vs 35.28 cr rupees loss (Y-o-Y).
• HMT Jan-Mar net loss 8.64 cr rupees vs 19.72 cr rupees loss (Y-o-Y).
• Abbott India Jan-Mar net profit 27.08 cr rupees vs 5.94 cr (Y-o-Y).
• Ashok Leyland Jan-Mar net profit 258.73 crrupees vs 298.22 cr rupee (Y-o-Y).
• KS Oils Jan-Mar net loss 105.79 cr rupees vs 33.06 cr PAT (Y-o-Y).
• SREI Infra Jan-Mar net profit 13.21 cr rupees vs 14.20 cr (Y-o-Y).
• Kemrock Ind Jan-Mar net profit 14.50 cr rupees vs 20.42 cr rupee (Y-o-Y).
• Lovable Lingerie Jan-Mar net profit 6.52 cr rupees vs 21.65 cr rupee (Y-o-Y).
EX- Dividend + Board Meeting -
EX- Dividend – Automobile Corp, D B Corp.
Board Meeting (Purpose) – 8K Miles Software (Bonus), Aditya Birla Nuv (Dividend), Advani Hotels Dividend), Haldyn Glass (Dividend), Rabha Plast (General ), Himadri Chem (Dividend), India Infoline (Dividend), Atul (Dividend), INFINITE (Dividend), Sagar Cements (Dividend), JK Tyre (Dividend), Shree Cement (Dividend), Chettinad Cem (General), Cummins India (Dividend), Deccan Cements (Dividend), Maharashtra Scoot (Dividend), Dhampur Sug Mil (Dividend, Dividend on Preference Shares), Torrent Cables (Dividend), Ugar Sugar (Dividend), Emco (Dividend), Muthoot Fin (Dividend), Vardhman Hold (Dividend), Welcast Steel (Dividend), Parle Software (Dividend).