In markets, there’s turbulence, then there’s whatever you call the last two days, when a 900-point Dow rally was followed 12 hours later by a 1,000-point decline.
Concerns of investors have not entirely abated after Axis Bank‘s December quarter numbers. The stock has been under pressure since it reported higher-than-expected slippages in the second quarter.
Pharmaceutical Company Claris Lifesciences has sold its injectibles business to the US based Baxter. The deal is priced at USD 625 million and will be completed by the second half of 2017.
Hemendra Hazari, an expert, said the non-performing assets are higher than analysts expectation. This watch list is not the end of the story," he said.
Contraction in prices is estimated to be lesser on the back of hardening food inflation, reports CNBC-TV18. The WPI numbers will come at noon.
Ambareesh Baliga, independent market expert, is extremely bullish on power sector and doesn‘t feel a ‘hope trade‘ has been driving BHEL.
Sintex Industries has beat the Street estimates with second quarter consolidated net profit rising 46.8 percent on yearly basis to Rs 107 crore on strong sales and operational performance.
Infosys has posted a robust set of numbers in Q2, beating the Street expectations. For the quarter ended July-September, the company‘s net profit rose 7.3 percent sequentially to Rs 3,096 crore on strong revenue and operational growth.
“The Street is building in a capex cycle of the likes in 2004 and 2008,†Elara says, adding, “while we do not dispute the recovery signals, we are circumspect of the relative outperformance of cyclicals over the medium term (12 months).â€
Reliance Communications reported its Q3 earnings which were lower than what the street was estimating.
Anand Tandon, chief executive officer, JRG Securities says the Nifty is likely to face stiff resistance at 5300 level. Speaking to CNBC-TV18, he says that the market, however, looks attractive at levels below 4800.