Thursday March 21, 11:30 AM
Second rung software perks... |
|
By Equitymaster.com
The markets continue to slide due to lack of interest. There is buying interest seen in banking stocks. This could be on hopes of consolidation in the sector. Selective auto stocks are also in favour. Top run software stocks are in the red, while second rung stocks are witnessing buying interest.
The BSE Sensex is at 3,565 (down 16 points) and the NSE Nifty is at 1,150 (down 6 points). The rupee is trading at Rs 48.75 per US dollar.
BSES and Tata Power (TTPW.BO, news) are reviewing their bid for a 51% stake in Delhi Vidyut Board (DVB). While BSES is unhappy with the stiff bidding norms and unrealistic loss reduction targets, Tata Power is concerned about the penalty clause on bidders if the loss reduction targets are not met. Both the stocks are down by 0.2%.
SAIL has increased its markets share in western India by 4% to 26% between April 2001 and February 2002. This is a strong positive since western India accounts for 33% of the total domestic markets. SAIL is up by 1%. The hope of an improvement in steel prices has caused buying interest in the stocks. Essar is up by 1.5%, while Tisco is up marginally.
Among the software stocks Infosys, Wipro (WIPRd.BO, news) and Satyam are out of favour. However, stocks like Rolta, Tata Infotech (TTIN.BO, news) , Sonata Software and Trigyn Technologies are in favour with the bourses.
|
