Reliance Industries were down 2% in a sluggish market as the numbers were marginally below market expectations.
Reliance Industries, which will post its July-Sept results on Saturday is likely to benefit from a stronger refinery margin and a weak rupee, say analysts. However, falling gas output from its KG-D6 oil fields and margin pressure in the petrochemicals business means it will be hardly able to maintain its performance Year-on-Year (y-o-y)
Ajay Parmar, Head - Institutional Research, Emkay Global Financial Services Ltd speaks to CNBC-TV18 about his strategy report titled 'Earnings at Risk'. For FY12, he tells CNBC-TV18 he sees earnings growth at 19%.
SKS Microfinance shares rose 10% to Rs 299 in the afternoon trade on Tuesday. However, the surge came after the stock was beaten down badly in recent times on regulatory concerns in microfinance sector in particular.
Jubilant Foodworks can touch Rs 700-750, says Ajay Parmar, Head-Institutional Research, Emkay Global Financial Services Ltd.
Greaves Cotton has target of Rs 120, says Ajay Parmar, Head-Institutional Research, Emkay Global Financial Services Ltd.
Hexaware Technologies has target of Rs 85, says Ajay Parmar, Head-Institutional research, Emkay Global Financial Services Ltd.
The markets took a breather after two days of back-to-back rallies. The indices consolidated in a narrow band and finally closed with handy gains. The NSE Nifty ended higher for the third consecutive session at 5,481 with 25 points up, while the BSE Sensex ended at 18,273.80 with a 70 point gain.
Ajay Parmar, Head-Institutional Equities, Emkay Global Financial Services is positive on fertilizer space.
Ajay Parmar, Head-Institutional Equities, Emkay Global Financial Services is bullish on IT and pharma space.
Banking stocks may underperform, says Ajay Parmar, Head-Institutional Equities, Emkay Global Financial Services.