Over 300 stocks have hit fresh 52-week low on the BSE including names like NALCO, Indiabulls Housing Finance, Vedanta, Indian Bank, NTPC, IDBI Bank, JSW Steel, Tata Chemicals, Coal India and Balkrishna Industries.
The stocks that hit new 52-week low on the NSE were ABG Shipyard, Gayatri Highways, Punj Lloyd, IL&FS Transportation Networks, Nagarjuna Fertilizers, Raj Rayon Industries and Rolta India, among others
In an interview to CNBC-TV18, KK Singh, CMD of Rolta India spoke about the results and his outlook for the company.
Rolta India has seen a steady quarter. Higher finance cost weighs on profit but margins have improved. In an interview to CNBC-TV18, KK Singh, CMD of Rolta India discussed more about the performance.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Colgate Palmolive, Coffee Day, MMTC and Rolta India and sell Cipla.
Speaking to CNBC-TV18, KK Singh, Chairman and Managing Director of Rolta India, said a conscious decision to decline contracts for third party-based projects had contributed to a flattish third quarter.
Tata Motors | Sun Pharma | DLF | Cadila Health | Jindal Steel | SpiceJet | Adani Enterprises | MOIL | Cox & Kings | HDIL | Liberty Shoes | Voltas | National Fertilisers | Ashiana Housing | Power Mech | Intellect Design Arena are stocks, which are in the news today.
Shahina Mukadam, Independent Market Expert advises buying India Cements with a target of Rs 150.
Prakash Gaba of prakashgaba.com is of the view that one may stay invested in Rolta.
Sameet Chavan of Angel Broking is of the view that one may buy Axis Bank with a target of Rs 474.
Forex moves contributed to reduction of other expenses, says KK Singh, CMD of Rolta India.
Shares of the company opened on a bullish note at Rs 57, then jumped 18.29 percent to touch an early high of Rs 64.65 on BSE.
Prakash Gaba of prakashgaba.com is of the view that Nifty has support at 8240 and resistance at 8391 while Bank Nifty has support at 18500 and resistance at 18800.
The total income from operation of the company declined by 25.52 per cent during the reported quarter at Rs 736.95 crore from Rs 989.59 crore in the corresponding period of 2015-16.
On September 16, 2016 Wisdomtree Issuer PLC - Wisdomtree Emerging Markets Smallca sold 9,17,484 shares of Rolta and 5,52,646 shares of Aban Offshore.
In an interview with CNBC-TV18, KK Singh, CMD of Rolta said that the company has been consciously cutting down software work to focus on its IP business and does not expect more erosion of revenue due to pruning of system integration work.
