Accenture expects revenue of $7-7.3 bn in Sept-Nov quarter

Global technology services and consulting company Accenture expects revenue in the September-November quarter to be in range of USD 7-7.3 billion. For fiscal September-August 2014, the firm has forecast revenue growth of 2-6 percent.

The firm reported a 4 percent increase in revenue to USD 7.1 billion for the fourth quarter of fiscal 2013 from a year earlier, while revenue for the entire fiscal climbed 3 percent to USD 28.6 billion.

"Accenture expects net revenues for the first quarter of fiscal 2014 to be in the range of USD 7-7.3 billion," it said in a release. "For fiscal 2014, the company expects net revenue growth to be in the range of 2-6 percent in local currency."

The company estimates operating cash flow in fiscal 2014 to be in the range of USD 3.6 billion-3.9 billion, property and equipment additions to be USD 400 million and free cash flow at USD 3.2 billion-3.5 billion.

Operating cash flow was USD 3.3 billion and free cash flow was USD 2.9 billion in fiscal 2013.

"We remain focused on investing to further differentiate our industry, technology and business process capabilities, particularly in digital marketing, mobility, analytics and cloud," Accenture Chairman and CEO Pierre Nanterme said.

Accenture is targeting new bookings for fiscal 2014 in the range of USD 32-35 billion against new bookings for fiscal 2013 of USD 33.3 billion.

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Fundamentals strong; growth to improve in second half: PM

Asserting that the fundamentals of the Indian economy are strong, Prime Minister Manmohan Singh has said GDP will improve in the second half of fiscal 2013-14 and that the government is commitment to get back to a sustainable growth rate of 8-9 percent.

Addressing investors here, Singh said the government will contain the fiscal deficit at 4.8 percent of GDP and work towards achieving the medium-term objective of reducing the current account deficit (CAD) to 2.5 percent of GDP.

"The results of our efforts will be visible in the second half of the year. We expect stronger growth in 2013-14 than in 2012-13. The second half of the year should see a distinct turnaround, partly because of the good monsoon and partly because of the steps we have taken," he said.

The Indian economy grew at a four-year low of 4.4 percent in the April-June quarter. In 2012-13, it clocked a decade low level of growth at 5 percent.

"It is a fact that our growth rate has slowed down. We grew at an average of about 8 percent for a decade. Last year, our growth rate dipped to 5 percent. To some extent, this reflects the slowdown in the global economy and in all emerging markets," Singh said.

The government, he said, is committed to getting India back to a sustainable growth path of 8-9 percent.

"The fundamentals of the Indian economy remain strong...Our forex reserves stand at over USD 270 billion and are more than sufficient to meet India's external financing requirements," Singh said.

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Heavy rainfall expected in north Gujarat, south Rajasthan

The withdrawal line of southwest monsoon continues to pass through Kalpa, Hissar, Jodhpur and Nalia. Isolated rain and thundershowers are expected to bring down temperatures in Jammu & Kashmir, Himachal Pradesh, Uttarakhand and Haryana. South and east Rajasthan is likely to receive light to moderate rain at few places, keeping the mercury near normal. A predominantly cloudy sky with chances of light rain will not allow the maximum temperature in the national capital to rise above 33 degrees.

The upper air cyclonic circulation  over  north Bay of Bengal and  neighbourhood  extending up to mid tropospheric levels still persists.  Under its influence, a low pressure area will develop over Bay of Bengal leading to thundershowers in West Bengal and Orrisa. Jharkhand and north eastern states may receive light to moderate rain. Temperatures are expected to drop by a couple of notches after 48 hours in the north eastern states.

An upper air cyclonic circulation still lies over north Gujarat and adjoining south Rajasthan, and is expected to bring heavy rainfall in this region. Day temperatures of Gujarat will rise significantly as rainfall succumbs. Chhattisgarh will also receive moderate rainfall in the next 24 hours.

The southern peninsula will remain mainly dry due to the absence of any significant low pressure system. Nevertheless, isolated light rain is a possibility in coastal Andhra Pradesh. Temperature will rise by a couple of degrees in coastal Andhra Pradesh. While, it will remain near normal in interior Karnataka and Tamil Nadu. Bangalore, as always will remain comfortable with maximum and minimum temperatures at 29 and 20 degrees respectively.

By: Skymetweather.com

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Go long on Infosys, advises Rajat Rajgarhia

Sep 28, 2013, 12.18 PM IST

Rajat Rajgarhia, Director- Research of Motilal Oswal Securities is of the view that one may buy Infosys with a long term view.

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Go long on Infosys, advises Rajat Rajgarhia

Rajat Rajgarhia, Director- Research of Motilal Oswal Securities is of the view that one may buy Infosys with a long term view.

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Go long on Infosys, advises Rajat Rajgarhia

Rajat Rajgarhia, Director- Research of Motilal Oswal Securities is of the view that one may buy Infosys with a long term view.

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Rajat Rajgarhia, Director- Research of Motilal Oswal Securities told CNBC-TV18, "As we are now entering the earning season and would recommend investors to be long on some of the currency denominated companies where earnings are going to be fairly strong like Infosys . Even Bajaj Auto has not performed but the earning traction will now slowly start coming in and also Bharti Airtel ."

"Once some more stability comes on, after this correction into the financials at lower levels, one can also look at stocks like ICICI Bank ," he adds.

On September 27, 2013 Infosys closed at Rs 3,006.40, down Rs 6.95, or 0.23 percent.

The share touched its 52-week high Rs 3,172.70 and 52-week low Rs 2,249 on 11 September, 2013 and 29 April, 2013, respectively.

Also Read: Texas court grants relief to Infosys in Versata case

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Himadri Chemicals' director Basudeb Sen retires

Sep 28, 2013, 12.20 PM IST

Himadri Chemicals & Industries has informed that Mr. Basudeb Sen, Director of the Company who had expressed his unwillingness to be re-appointment and has retired by rotation at the Annual General Meeting held on September 23, 2013.

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Himadri Chemicals' director Basudeb Sen retires

Himadri Chemicals & Industries has informed that Mr. Basudeb Sen, Director of the Company who had expressed his unwillingness to be re-appointment and has retired by rotation at the Annual General Meeting held on September 23, 2013.

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Himadri Chemicals' director Basudeb Sen retires

Himadri Chemicals & Industries has informed that Mr. Basudeb Sen, Director of the Company who had expressed his unwillingness to be re-appointment and has retired by rotation at the Annual General Meeting held on September 23, 2013.

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Himadri Chemicals & Industries Ltd has informed BSE that Mr. Basudeb Sen, Director of the Company who had expressed his unwillingness to be re-appointment and has retired by rotation at the Annual General Meeting held on September 23, 2013.Source : BSE

Read all announcements in Himadri Chem

Action in Himadri Chemicals and Industries

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Servotech Engineering Industries: Outcome of AGM

'); } Sep 28, 2013, 12.21 PM IST Servotech Engineering Industries has informed that the 18th Annual General Meeting (AGM) of the Company was held on September 28, 2013.

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Servotech Engineering Industries Ltd has informed BSE that the 18th Annual General Meeting (AGM) of the Company was held on September 28, 2013.Source : BSE

Read all announcements in Servotech En

To read the full report click here

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Action in Servotech Enterprises

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Sudar Industries: Outcome of AGM

Sep 27, 2013, 12.22 PM IST

Sudar Industries Ltd has informed that the 12th Annual General Meeting (AGM) of the Company was held on September 27, 2013.

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Sudar Industries: Outcome of AGM

Sudar Industries Ltd has informed that the 12th Annual General Meeting (AGM) of the Company was held on September 27, 2013.

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Sudar Industries: Outcome of AGM

Sudar Industries Ltd has informed that the 12th Annual General Meeting (AGM) of the Company was held on September 27, 2013.

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Rupee appreciation may add downside pressure on Silver

Sushil Finance's report on bullion

Spot Silver prices declined by 0.37 percent in Yesterday's trading session on the back of fall in Spot gold prices coupled with strength in DX. Further, mixed global market sentiments along with the negative pending home sales data from US added downside pressure on the prices. However, sharp downside was cushioned due to favorable unemployment claims data from US.

In the Indian Markets, silver prices fell by 1.08 percent taking cues from Spot silver prices coupled with appreciation in the Indian Rupee. Silver prices touched an intraday low of 48322/Kg and closed at 48639/Kg.

Outlook:

We expect spot Silver prices to trade on the negative note on the back of weak economic data from the globe. Further, rise in worries over possible US federal debt default may add downside pressure on the prices. Additionally, uncertainty over the US Federal Reserve's stimulus outlook may keep prices under pressure. However, weakness in DX along with the rise in risk appetite in the global markets may cushion sharp fall in the prices. In the Indian Markets, appreciation in the Indian Rupee may add downside pressure on the prices.

We expect spot gold prices to trade on the negative note on the back of rise in risk appetite in the global markets which may keep investors away from safe haven. Additionally, uncertainty over the US Federal Reserve's stimulus outlook may keep prices under pressure. However, rise in worries over possible US federal debt default and weakness in Dollar Index may cushion sharp fall in the prices or even reversal may be seen. In the Indian Markets, appreciation in the Indian Rupee may add downside pressure on the prices.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Sell Chana below Rs 3000: Geojit Comtrade

Geojit Comtrade's report on agricultural commodities

Chana Oct NCDEX: Chana prices plummeted sharply from a high of 3070 and closed the day at 3000 levels. Prices need to break the trend line support of 3000 to trigger the next leg of selloffs towards 2950 and then to 2880 levels for the day. Moreover, daily RSI (14) is also seen negative for the day. On the other hand, inability to do so could see short covering rallies 3030/3060 levels.

Refined Soy oil Oct NCDEX: Required to break above 669 for the buying momentum to continue towards 671/676 levels.

CPO Sep MCX: Any successful trades above 531, could see pullbacks to 536/540 levels in the near term.

Cardamom Oct MCX: Cardamom prices nosedived and later closed the day at 738.30. It need to break and sustain below 738 for the continuation of downside moves to 720 and then to 700 levels. However, if prices break and sustain above 770, could extend the short covering rallies to 780/795 levels. Major upside moves would trigger only above 805 regions.

Strategies:
Buy Refined Soy oil above Rs 669
Buy CPO on dips
Sell Chana below Rs 3000

(Prices in Rs.)

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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Expect spot gold prices to trade positive: Sushil Finance

Sushil Finance's report on bullion

A spot gold price increased by 1.32 percent in yesterday's trading session on the back of weakness in dollar Index. Further, rise in worries over US debt ceiling crisis increased the demand for safe haven. Additionally, US Federal reserve decision to continue with its bond buying programme supported prices to trade in green. However, mixed economic data from globe capped sharp upside in the prices.

In the Indian Markets, gold prices rose by 0.79 percent taking cues from Intl spot gold prices. However, appreciation in the Indian Rupee prevented sharp upside in the prices. Gold prices touched an intraday High of 30290/10gms and closed at 30215/10gms.

Outlook: We expect spot gold prices to trade on the positive note on the back of rise in worries over possible federal debt default. Further, US Federal reserve decision to continue with its bond buying programme may support prices to trade in green. Apart from that, expectation of rise in US unemployment claims may support prices. However, strength in Dollar index may cushion sharp upside in the prices. In the Indian Markets, depreciation in the Indian Rupee may support prices to remain in positive terrain.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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