Infosys results for this quarter have generally disappointed the markets resulting in a bad day for IT stocks in general. Infosys crashed by almost 7% today and closed at Rs 1976. Satyam lost about 8.5 % today and closed at Rs 448. All the sectors were up today except for IT. The major factor contributing towards this downfall is obviously the rising rupee. In this calendar year rupee has appreciated by almost 11%. Considering that you can imagine the kind of impact it will have on the IT Company’s financial numbers. Infosys alone has lost almost Rs 2000 cr because of this appreciation.
Thursday, 11 October 2007
Wednesday, 10 October 2007
Infosys
Some market experts have given a target of Rs 2300 for Infosys. What becomes of this stock in the short term will become clear tomorrow when Infosys comes out with its quarterly results. Technology sector is looking quite positive in general, more so becase almost all of them had hit their 52 week lows. I personally like Satyam quite a lot. It has risen quite smartly from almost Rs 300 levels a few days back to Rs 370 today. BTW, I had given a tip for Satyam ... :-)
Reliance Petroleum
Anil Manghnani hold the view that Reliance Petroleum can touch Rs 189 if it goes above Rs 176. This does not come as a surprise to me considering the pace at which Reliance stocks have been moving in the very recent past. Reliance Energy touched its 52 week high again (no surprise there again!) at Rs 1624 on reports that its subsidiary Reliance Energy Transmission has bagged a project worth Rs 2000 cr. Anybody investing in stock market should at least have one Reliance stock in their portfolio otherwise its not worth it!!
Stock Tips: 3i Infotech
Stock market trading tip: 3i Infotech is a very good stock investment option in the mid-cap IT space. They have very good growth prospects. The financial year 2008 guidance is at Rs 1000-1100 cr in revenues which means 53-68% yoy growth and profits of Rs 145-155 cr i.e 39-48% yoy growth.
Tuesday, 9 October 2007
Air India IPO
Air India is reported to be coming out with an IPO to offload 15% of its stake after completion of its merger with Indian Airlines. The parent company will be called National Aviation Company of India Ltd (NACIL).
World’s Richest
The combined wealth of Mukesh and Anil Ambani is about $ 91 billion, making them the richest in the world, as reported by Economic Times. They have taken over the Walton family, who controls 39% stake in Wal-Mart and is valued at about $71 billion. And all this is thanks to the booming stock markets of India.
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