Tuesday January 22, 11:30 AM
Strong buying interest... |
|
By Equitymaster.com
IT stocks are recovering sharply from lower levels. There is strong buying in frontline auto and pharma stocks. Markets are waiting for HLL to declare its quarterly results. Nifty futures have bounced back to positive territory. Rupee is trading strong to the dollar.
The BSE Sensex is at 3,400 (up 18 points) and the NSE Nifty is at 1,098 (up 7 points). The rupee is trading at Rs 48.28 per US dollar.
Balaji Telefilms is up 5%. The company has declared encouraging results for 3QFY02. While revenues have grown by 70%, operating margins have shown a spectacular rise due to shift towards commissioned programs. The company's programs cumulatively occupy 18-20% of total prime time currently. Mukta Arts is up 2%.
HCL (HCLL.BO, news) Tech is down 0.3% after the company announced below expected results this mornings. While sequentially revenues have grown by 8%, net profit has grown by 26%. Markets were expecting a net profit growth of 35% approximately.
Dr. Reddy (REDY.BO, news) 's has attracted strong interest in last few trading sessions after Cipla (CIPL.BO, news) results disappointed on its margins. Dr. Reddy's is currently up 2% and is trading strong above Rs 1,000 mark.
|
