Market Updates02 Jun11
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Market Outlook »
Nifty back above 2 year trend supports.
Nifty back above 2 year trend supports, more hurdles ahead as prices inch back towards the 200 DEMA around 5,600.The daily candle chart of the Nifty shows a large bodied bullish candle, which indicates a near term optimistic outlook. The anticipated follow up buying occurred, sending indices higher along expected lines.The coming session is likely to witness a resistance at the 5620 levels on advances. Support is likely at the 5500 levels below which the 5470 maybe tested.
Buy EROS International 149.00 target 160
Buy TVS Motors 54.15 target 60
Buy JSW Steel 975.00 target 995
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Buy EDSERV Soft. 144.25 target 155
Buy Mangalore Chemical 32.70 target 40
Buy Phoenix Mills 186.20 target 195
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Investment »
Voltamp
Voltamp numbers are ahead of expectations as the EBITDA margins reverted back to the pre-FY11 levels. However, demand scenario remains challenging as
Investment »
Simplex Infra
Order inflow for fiscal 2011 much better than other construction peers. However, execution growth during FY11 was lower than the management guidance.
Stock Watch
Revenue of the company for Q4FY11 and full year FY11 reported a growth of 16% and 15% YoY respectively led by strong order book. Revenue growth was better than our estimates.Order inflow during FY11 was lower than
Stock of the Week
Arvind is engaged in the manufacture of textiles and branded segments. Operates in three segments, textiles which inlcude yarn,fabric and branded garments and others which include EPABX and rural automatic exchange systems, It services and construction business. With an equity base of Rs 254cr supported with huge reserves of Rs 1235cr. For FY11 it recorded net sales of Rs 2691cr with net profit of Rs 134cr. FY11 EPS is Rs 5.64. At cmp the stock is available at a forward multiple of just 14.
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