12:00
Moneycontrol BureauLive Market Commentary 12:20pm TCS Q4 earnings today
Analysts believe the company is unlikely to surprise with its quarterly earnings given the management had indicated (in its analyst meet held in March) that revenues and margins in fourth quarter will be lower than third quarter. However, the company had also said FY15 will better than FY14 .
According to CNBC-TV18 poll, profit after tax of the company is likely to fall 2.9 percent sequentially to Rs 5,175 crore but revenues (in rupee terms) may increase 1.7 percent Q-o-Q to Rs 21,662 crore and (in dollar terms) 2.2 percent to USD 3515 million during March quarter.
12:10pm Market Expert
Elections are usually a good time for the market, which is evident from the fact that nearly 80 percent of the Sensex returns in the last 30 years have come in during the two years of a new government. That's the word coming in from Saurabh Mukherjea CEO, Institutional Equities, Ambit Capital who believes Indian equities are in midst of a similar run.
Typically, post elections, cheaper stocks tend to rally. Mukherjea advises investors to focus on buying decently run companies available at attractive valuations. "We expect 15-20 percent returns on Indian market in next 2 years," he told CNBC-TV18.
12:00pm Equity benchmarks are rangebound with the Nifty gyrating around 6730 level. The index falls 3.80 points to 6729.30 and the Sensex declines 15.22 points to 22469.71. About 1156 shares have advanced, 1077 shares declined, and 159 shares are unchanged.
Banks and metals stocks continue to see buying interest while capital goods, technology and healthcare stocks are under pressure. Top lenders SBI, ICICI Bank, HDFC Bank and Axis Bank gain 0.6-1 percent.
Car maker Maruti Suzuki gains 2 percent after brokerage house Nomura says it maintains buy rating on the stock with increased target price of Rs 2295 (from Rs 2135 earlier).
Index heavyweights Reliance Industries and ITC advance 0.6 percent and 1.4 percent, respectively. Shares of Tata Steel and Hindalco Industries gain 1-1.5 percent.
However, technology stocks like TCS, Wipro and Infosys fall 1-2 percent on profit booking. TCS will announce its March quarter earnings today and Wipro's numbers will be on April 17. Shares of HDFC, L&T, Dr Reddy's Labs, Hero Motocorp and BHEL decline around a percent.
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