Sunday, 15 May 2011

Market Today

Monday, May 16, 2011 6:37 AM

Indicators point to more downside, Cash is king

Dalal Street is likely to friend with volatility again as global cues suggest a decent correction in equity and commodity markets going ahead. Asian markets are trading in the red on Monday.

Markets - Uneasy at current levels

While majority of the market pariticpants are betting on a range bound tend, we think the other way. Going by the global conditions, markets are likely to slide in the coming days. We advice investors to stay away from the market for some more time.

Suzlon returns to profit in Q4, Banks might feel the pressure
Suzlon Energy Ltd, India’s largest wind-turbine maker, posted a quarterly profit for the first time since December 2009 on strong orders and better cost controls.Net income for the group in the three months ended March 31 was 4.3 billion rupees ($96 million) compared with a 1.9 billion-rupee loss a year earlier, the Ahmedabad-based company said today . Suzlon sees revenues rising by 44% to Rs 26000 cr in FY12‎. Stock is likely to outperform today.

News Bytes

* Pharma majors take JV route to India
* Hotel Leelaventure board will meet to discuss fundraising
* IMF boss faces sex charges, France in shock
* Arvind lines up realty JV in Gujarat
* Dr Reddy’s Q4 net doubles; tops forecast
* Idea, Spice face licences cancellation in Karnataka, Andhra
* Oil companies hike petrol price by Rs 5/litre
* Suzlon sees revenues rising by 44% to Rs 26,000 cr in FY 12

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