Indian Markets closed

Indian Markets are closed today (elections in Mumbai) and tomorrow( May Day , Labour Day).
International Markets today are in green and this may impact our markets when they reopen on Monday morning.
Indian Markets are expected to open with a gap of +1.5-2.5%.

Nifty agin testing 3500 mark

Will the Nifty able to sustain the 3500 mark is the million dollar question.
Though the Asian markets are in red, there is a strong buying in the Indian counter.
If Nifty reaches the 3523, once can see a clear bull rally and markets can test the 3600 in a couple of days.
On the other hand, if the markets touch 3426, the market may move back to 3287.

TIP: Buy IDBI at 66.15 ( as of 11.15 A.M, its trading at 66.80). Sell it at 68.90 with a stop loss of 63.90.

Market News at 11.35 A.M

The markets, today, are range bound fluctuating between +- 0.5% and though the bulls seems to be gaining in this race, looking at the world markets the market may go down today.
Expect the market to be rage bound in the next few sessions (+- 100 points).

TIP: Buy HCL Tech at 127.10 ( at 11.38 A.M its trading at 127.80) and sell at 131.90- 134.90;Stop Loss at 122.90

Update on Indian Markets

Indian markets seems to be more resilient when compared to the world markets. Today most of the world markets are down by 2-5%. From today's low of 3324 it bounced back to 3370 ( NSE as of 12.15).
However, Indian Markets may be waiting for the European Markets to start and by end of today the Markets may go down by 3%.
Tip: Short Sell PNB at Rs.483 with a stoploss of Rs.487.30 and a target of Rs. 468-464.

April 20, 2009: Indian Markets are Range Bound

Today, Indian markets are swinging between +- 1% . As with the rest of the world, awaiting the news from US market, for guidance. This week major companies are expected to announce their Quarterly results and also provide the guidance for the things to come.
Today's major gainers are HCL TECH, ABB and Reliance Infrastructure Limited.
Updated as on April 20, 2009 time 14.45

Infosys Technologies (NASDAQ: INFY) Announces Results for the Quarter and Year Ended March 31, 2009

Infosys has come with its quarterly results and the markets have given them thumps up ( I didn't get it)
Well, the results are below what the markets have expected.
Some of the Data:
Fiscal 2010 revenues expected to decline by 6.7% to 3.1%
Fiscal 2009 revenue growth of 11.7% reported

Consolidated results for the quarter ended March 31, 2009
Revenues were $ 1,121 million for the quarter ended March 31, 2009; YoY decline was 1.8%
Net income after tax was $ 321 million for the quarter ended March 31, 2009; YoY growth was
2.6%
Earnings per American Depositary Share (ADS)* increased to $ 0.56 from $ 0.55; YoY growth of
1.8%

Consolidated results for the year ended March 31, 2009
Revenues were $ 4,663 million for the year ended March 31, 2009; YoY growth was 11.7%
Net income after tax* before exceptional item was $ 1,281 million for the year ended March 31,
2009; YoY growth was 10.1%
Earnings per American Depositary Share (ADS)* increased to $ 2.25 from $ 2.04; YoY growth of
10.3%

Others
37 clients were added during the quarter by Infosys and its subsidiaries
Gross addition of 4,935 employees (net 1,772) for the quarter and 28,231 employees
(net 13,663) for the year by Infosys and its subsidiaries
104,850 employees as on March 31, 2009 for Infosys and its subsidiaries
The Board of Directors recommended a final dividend of Rs. 13.50 per ADS (equivalent to $ 0.27
per ADS at the prevailing exchange rate of Rs. 50.72 per US$) for fiscal 2009.The dividends are
payable on the ADSs outstanding as on record date, at the prevailing exchange rate on the
payment date and are subject to approval by the shareholders.

With the global markets once again resuming there bull run, lets hope it will continue..for a long long time.

Tech Mahindra buys Satyam Computers

Good news to all the stake-holders and the employees: Tech Mahindra buys Satyam Computers. They have bid for the company at RS 58 and are a clear winner in the race to buy Satyam.
L&T's bid was at Rs 45. Even though L&T have lost in the bidding, they sure must be happy to know that their investment (close to 13%) in Satyam is in good hands.
Lets hope that Tech Mahindra will be able to bring the company back to its glorious days.