Tuesday January 22, 09:00 AM
Result oriented activity... |
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By Equitymaster.com
After having run up significantly over the last one month, nerves seem to be cooling off. Markets also seem to be wary of a recovery in tech spending in light of continuous profit warnings from software majors in the US. Meanwhile, as third quarter results unfold for India Inc, action is expected to heat up in selective stocks.
Live quotes on Indian ADRs.
FMCG majors like Hindustan Lever, Dabur and Proctor & Gamble are set to declare results today. If recent sales estimates by one of the leading research agency are any indication, demand has remained lacklustre. However, one has to look at individual company performances. Despite the slowdown, given the understanding of the market and marketing capabilities, companies like HLL are expected to gain market share. The company is expected to report sales growth of around 3%-5% for FY02. On the other hand, topline growth for Dabur and P&G is expected to remain subdued due to slowdown.
CMC, Crompton Greaves, Cummins (CUMM.BO, news) , ICICI Bank (ICBK.BO, news) , Sun Pharma (SUN.BO, news) and Telco are the other major companies that are declaring results today. CMC, Telco and ICICI Bank would be most watched results today. Telco is expected to post a notable rise in sales thanks to the outstanding performance of its passenger car 'Indica V2'. Margins are also expected to increase due to the cost cutting initiatives and value engineering efforts taken by Telco.
In light of continuous profit warnings and cautious earnings outlook for tech majors in the US, software scrips might remain weak.
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