The first buyer of my second book - Shivangi Dhingra....
Friday, October 22, 2010
Friday, October 15, 2010
My second novel: "The Inheritance" has been published...
Cheers! My second novel: "The Inheritance" has been published. Click on the following link to check out the details and also to place an order on the publisher's website: http://www.atlanticbooks.com/browse/details.asp?id=22396
Infosys Q2 net profit up 13 pct
MUMBAI (Reuters) - Infosys Technologies (INFOSYS.BO : 3137 -47.25), India's second-largest software services exporter, beat street estimates with a 13 percent rise in quarterly net profit helped by increased spending on IT projects by clients.
Bangalore-based Infosys said today net profit for its second quarter ended Sept. 30 rose to 17.4 billion rupees ($395 million) from 15.4 billion rupees a year ago.
Brokerages polled by Reuters had forecast profit of 17.17 billion rupees for Infosys, which counts Goldman Sachs, BT Group and BP among its main clients.
Shares in Infosys rose 2 percent to an all-time high after the results but turned negative later.
COMMENTARY:
AMBAREESH BALIGA, VICE-PRESIDENT, KARVY STOCK BROKING, MUMBAI
"It is better than expectations, but there's nothing to be enthused about it. Rupee will play a spoil sport going forward. We don't expect a major bump up in the stock price.
"Billing rates are not going up for the sector although there's good growth in volumes. Also there's pressure from overhead expenses."
PRAKASH DIWAN, HEAD OF INSTITUTIONAL BUSINESS AT NETWORTH STOCK BROKING, MUMBAI
"I would not read much into the fall in stock price. The stock was pricing in most near-term positives. It had run up a lot on expectations and such a reaction is expected.
"Also, Infosys has had a history of beating its own guidance and street estimates. So, people do tend to factor in that before results"
NIRAJ DEWAN, DIRECTOR, QUANTUM SECURITIES, NEW DELHI:
"On the margins side there was some pressure but that is more because of the rupee dollar movement. If the rupee dollar appreciation continues, then there could be some disappointment in the current quarter in terms of margins. Attrition would be another challenge, as the rate of attrition was higher in this quarter than the last."
"The stock is pressured because it has already run up and the guidance they are giving is not towards the higher end, it is towards the lower end of expectations."
ROHIT ANAND, RESEARCH ANALYST, PINC RESEARCH, MUMBAI:
"In dollar terms the growth is good. Expecting a good set of numbers from other IT companies as well, especially the large caps. Going ahead, there might be some problems of rupee appreciation, otherwise things look good."
TEJAS DOSHI, HEAD OF RESEARCH, SUSHIL FINANCE, MUMBAI
"Revenue growth looks pretty exciting. It looks like they have increased the bottom end of the earnings guidance and not the top end of the guidance. One of the reasons for that may be, the core business seems to have improved, but then the rupee dollar situation is not that conducive. So, may be on the bottom line we are not seeing much of a change."
VIKAS PERSHAD, CEO OF VEDA INVESTMENTS, CHICAGO
"I think, it does show that IT spending cycle is stronger than some believed. For the larger companies, given Infosys results, we may see similarly good results. I prefer Infosys over TCS and Wipro (WIPRO.NS : 479.5 -10.75) in the Indian IT space. All this said, we need to pay attention to the rupee appreciation."
SUBHASHINI GURUMURTHY, ANALYST, AMBIT CAPITAL, MUMBAI:
"The results are good and the guidance for the year also looks good. Hence, I have a buy on this stock."
"Infosys has already given two wage hikes to employees and hence, this aspect won't affect Infosys rest of the year."
GAJENDRA NAGPAL, CEO, UNICON FINANCIAL INTERMEDIARIES, NEW DELHI
"The results are better than market expectations. We are very pleased. They have raised the dollar revenue guidance. That means they are making inroads into new customers. I expect the market to respond positively."
K. K. MITAL, HEAD OF PORTFOLIO MANAGEMENT SERVICES, GLOBE CAPITAL, NEW DELHI
"The results are okay. The positives are the upward revision in full year guidance. After this, other IT companies are also expected to report in-line numbers. I think Infosys stock may rise post results, but profit booking is not ruled out."
Bangalore-based Infosys said today net profit for its second quarter ended Sept. 30 rose to 17.4 billion rupees ($395 million) from 15.4 billion rupees a year ago.
Brokerages polled by Reuters had forecast profit of 17.17 billion rupees for Infosys, which counts Goldman Sachs, BT Group and BP among its main clients.
Shares in Infosys rose 2 percent to an all-time high after the results but turned negative later.
COMMENTARY:
AMBAREESH BALIGA, VICE-PRESIDENT, KARVY STOCK BROKING, MUMBAI
"It is better than expectations, but there's nothing to be enthused about it. Rupee will play a spoil sport going forward. We don't expect a major bump up in the stock price.
"Billing rates are not going up for the sector although there's good growth in volumes. Also there's pressure from overhead expenses."
PRAKASH DIWAN, HEAD OF INSTITUTIONAL BUSINESS AT NETWORTH STOCK BROKING, MUMBAI
"I would not read much into the fall in stock price. The stock was pricing in most near-term positives. It had run up a lot on expectations and such a reaction is expected.
"Also, Infosys has had a history of beating its own guidance and street estimates. So, people do tend to factor in that before results"
NIRAJ DEWAN, DIRECTOR, QUANTUM SECURITIES, NEW DELHI:
"On the margins side there was some pressure but that is more because of the rupee dollar movement. If the rupee dollar appreciation continues, then there could be some disappointment in the current quarter in terms of margins. Attrition would be another challenge, as the rate of attrition was higher in this quarter than the last."
"The stock is pressured because it has already run up and the guidance they are giving is not towards the higher end, it is towards the lower end of expectations."
ROHIT ANAND, RESEARCH ANALYST, PINC RESEARCH, MUMBAI:
"In dollar terms the growth is good. Expecting a good set of numbers from other IT companies as well, especially the large caps. Going ahead, there might be some problems of rupee appreciation, otherwise things look good."
TEJAS DOSHI, HEAD OF RESEARCH, SUSHIL FINANCE, MUMBAI
"Revenue growth looks pretty exciting. It looks like they have increased the bottom end of the earnings guidance and not the top end of the guidance. One of the reasons for that may be, the core business seems to have improved, but then the rupee dollar situation is not that conducive. So, may be on the bottom line we are not seeing much of a change."
VIKAS PERSHAD, CEO OF VEDA INVESTMENTS, CHICAGO
"I think, it does show that IT spending cycle is stronger than some believed. For the larger companies, given Infosys results, we may see similarly good results. I prefer Infosys over TCS and Wipro (WIPRO.NS : 479.5 -10.75) in the Indian IT space. All this said, we need to pay attention to the rupee appreciation."
SUBHASHINI GURUMURTHY, ANALYST, AMBIT CAPITAL, MUMBAI:
"The results are good and the guidance for the year also looks good. Hence, I have a buy on this stock."
"Infosys has already given two wage hikes to employees and hence, this aspect won't affect Infosys rest of the year."
GAJENDRA NAGPAL, CEO, UNICON FINANCIAL INTERMEDIARIES, NEW DELHI
"The results are better than market expectations. We are very pleased. They have raised the dollar revenue guidance. That means they are making inroads into new customers. I expect the market to respond positively."
K. K. MITAL, HEAD OF PORTFOLIO MANAGEMENT SERVICES, GLOBE CAPITAL, NEW DELHI
"The results are okay. The positives are the upward revision in full year guidance. After this, other IT companies are also expected to report in-line numbers. I think Infosys stock may rise post results, but profit booking is not ruled out."
Wednesday, October 13, 2010
Sensex zooms up 484 points; biggest single day gain in six months
In the biggest single day gain in six months, stock market benchmark Sensex today moved up a whopping 484 points to hit 33-month high of 20,687 on record inflows from foreign funds and strong overseas sentiment. The Bombay Stock Exchange''s 30-share barometer closed the day 484.54 points, or 2.4 per cent, up at 20,687.88 -- its best closing since January 14, 2008, when the index had ended at 20,728.05.
The National Stock Exchange 50-share wide-based Nifty index too spurted by 2.31 per cent to close at 6,231.50. Intra-day, the Sensex had zoomed 500 points to hit a high of 20,703, just 500 points short of its highest close of 21,206.77 -- achieved on January 10, 2008.
Today''s gain was the highest rise in a single day, since May 10, 2010, when the Sensex had rallied by 561 points. India was the best performing market among Asian peers today.
The broad based rally was led by IT, capital goods and banking stocks. Investors continue to remain bullish on IT stocks ahead of Infosys results, brokers said.
It was IT sector that stole the show on the Dalal Street, with Infosys zooming 2.57 per cent ahead of September quarter result -- to be announced on October 15. TCS climbed about 5 per cent -- the most in Sensex pack -- and Wipro 3.69 per cent.
Investor sentiment was also upbeat after technology major Intel Corp beat the Wall Street forecast by reporting a 59 per cent jump in third quarter profit to USD 2.95 billion. Analysts said, the sentiment on Street turned buoyant on China''s positive trade data, rebound in Australia''s consumer confidence in October and expectations of further steps by the US Fed to bolster the economy.
Back home, attractive pricing of Coal India Ltd IPO also helped boost the sentiments. The government Tuesday set a price band of Rs 225 to Rs 245 a share for the country''s largest ever IPO (expected garner over Rs 15,000 crore) by state-run CIL. "The liquidity driven rally piggybacking poor IIP numbers is a strong indication of the underlying strength in markets," Consortium Securities AVP Vishwesh Choudhary said.
Inflows from overseas fund houses are about to cross the magical Rs 1,00,000 crore mark, the highest net investment in a single in year in Indian equities. As per market regulator Sebi data, FIIs have infused a whopping Rs 99,874 crore so far this year in Indian stock market.
Reliance Industries Ltd, that holds the maximum weight in the Sensex, surged 1.67 per cent to settle at Rs 1,071.50. Financial was another sector that attracted heavy buying, with HDFC zooming 4.47 per cent, HDFC Bank 2.52 per cent, SBI 2 per cent and ICICI Bank 1.23 per cent.
NTPC was the sole loser stock in the entire Sensex pack. The scrip ended with a loss of 0.88 per cent.
The National Stock Exchange 50-share wide-based Nifty index too spurted by 2.31 per cent to close at 6,231.50. Intra-day, the Sensex had zoomed 500 points to hit a high of 20,703, just 500 points short of its highest close of 21,206.77 -- achieved on January 10, 2008.
Today''s gain was the highest rise in a single day, since May 10, 2010, when the Sensex had rallied by 561 points. India was the best performing market among Asian peers today.
The broad based rally was led by IT, capital goods and banking stocks. Investors continue to remain bullish on IT stocks ahead of Infosys results, brokers said.
It was IT sector that stole the show on the Dalal Street, with Infosys zooming 2.57 per cent ahead of September quarter result -- to be announced on October 15. TCS climbed about 5 per cent -- the most in Sensex pack -- and Wipro 3.69 per cent.
Investor sentiment was also upbeat after technology major Intel Corp beat the Wall Street forecast by reporting a 59 per cent jump in third quarter profit to USD 2.95 billion. Analysts said, the sentiment on Street turned buoyant on China''s positive trade data, rebound in Australia''s consumer confidence in October and expectations of further steps by the US Fed to bolster the economy.
Back home, attractive pricing of Coal India Ltd IPO also helped boost the sentiments. The government Tuesday set a price band of Rs 225 to Rs 245 a share for the country''s largest ever IPO (expected garner over Rs 15,000 crore) by state-run CIL. "The liquidity driven rally piggybacking poor IIP numbers is a strong indication of the underlying strength in markets," Consortium Securities AVP Vishwesh Choudhary said.
Inflows from overseas fund houses are about to cross the magical Rs 1,00,000 crore mark, the highest net investment in a single in year in Indian equities. As per market regulator Sebi data, FIIs have infused a whopping Rs 99,874 crore so far this year in Indian stock market.
Reliance Industries Ltd, that holds the maximum weight in the Sensex, surged 1.67 per cent to settle at Rs 1,071.50. Financial was another sector that attracted heavy buying, with HDFC zooming 4.47 per cent, HDFC Bank 2.52 per cent, SBI 2 per cent and ICICI Bank 1.23 per cent.
NTPC was the sole loser stock in the entire Sensex pack. The scrip ended with a loss of 0.88 per cent.
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