Infy strikes first on Thursday morning followed by TCS results after hours and then the limelight quickly shifts to banking as HDFCBANK reports on Friday itself, MindTree having skipped signal bars to run the results on Sunday and one feels HDFCBANK might run things late too as
growth in credit will be stronger and also catch up on rural growth while NIMs might not keep up before increasing realisations on loans again inthe April – June quarter.. HDFC Bank is unlikely to be compared on Fee income growth with Indusind but may continue back on a handsome growth after an average Q4 while 30 growth in Profits and 20 growth in Sales is a given, again handsomely beating INR!0B expectations on NPAT and . Axis Bank will have reported by Wednesday and may have mixed tidings with a sharper cut in NIMs for a SELL on news flavvor by Wednesday
The street is as alawys positively expectant on Infosys after de-rating the stock but being the eternal optimist, my followers may be a little shocked to realise that I don’ t think bad news in i/nfosys has been factored well enough. But this time around, weak global demand will be welcomed with less derision and more participants ready for a short play on the ‘bellwether’ as Dollar guidance of 8% growth may be struck down further because of the same reason they are postponing hiring – no clients, less additions.
TCS is expected to gorw profits 35% over Q1 last year and Infosys itself will improve EBITDA by 100 points on the Rupee average rate moving out of bounds but that is unlikely to keep Infy at 2488 and thus see an intra day correction in TCS tomorrow before it is ready for its own results announcement. Ideally , be very sure of the sentiment before you move in these scrips.
Buy JUBILANT FOODS and TITAN INDUSTRIES
The Rupee has trended down and MCX and FT finally up only 2% to 1180 and 800 as they make the happy announcement for MCX SX which has been trading just currencies
TATAGLOBAL and PRIME FOCUS seem to be the best picks int he sideays move the market is hoping to stick to and REC and PFC have been creeping up. ONGC is likely to outscore 280 on a diesel price hike and BPCL already up at 782. If there is another Vertical move HPCL and BPCL will move further
- India Morning Report (July 10, 2012) : Choices to get Sector specific again (awardz.wordpress.com)
- Morning Trading Strategies – India July 09, 2012 (awardz.wordpress.com)