Muthoot Finance (MFL), with gold loan portfolio of Rs.130 billion, is the largest gold financing company in India. With about 20% market share in gold loan business, the company services to the needs of more than 4.1 million customers. A NBFC-ND-SI, MFL has about 67% of its branches located in gold-rich region of South India and accounts for 75% of total loan portfolio from this region. The ... [Continue Reading]
Nifty Futures Trading Target Level For 18 April 2011, Buy above 5890
Nifty future is trading strong today, and is still trading above its strong resistance level of 5888, we will however be bullish as long as nifty is trading above 5890 level (on closing basis). Risks are increasing as technical indicators are mixed momentum from current levels. We will advice traders to stay long in today's market, unless nifty futures trades below 5876 level. If nifty futures ... [Continue Reading]
Infosys Technologies Ltd. (INFOSYSTCH) Q4 Profit Surges 2% at Rs.1818cr
India's second largest IT services exporter Infosys Technologies Limited. has announced quarter fourth result as, net profit was reported to be at Rs.1,818 crore, a growth of just 2.15% over Rs.1,779.8 crore same in previous quarter (Q3). Revenues went up 2% to Rs.7,250 crore as against Rs.7,105.6 crore on Q on Q basis. However these numbers were below the market expectations Dalal street was ... [Continue Reading]
Intraday Stock For 15 April 2011: Sell INFOSYSTCH At 3035, Target 2965
Stock for intraday trading: Sell Infosys Technologies Limited (INFOSYSTCH) @ 3035 for target 2997 and 2965 place protective stop loss at 3063. As soon as the Q4 result was declared we have seen the panic selling in this stock. At CMP of 3035 it is already trading very negative by more than 8%, and is more likely to be bearish today, So it seems to attract more sellers in this counter. The open ... [Continue Reading]
Nifty Futures Trading Target Level For 13 April 2011, Sell Below 5884
Nifty future is trading lower by 77 points today, but it is still trading above its strong support level of 5802, we will however be bullish as long as nifty is trading above 5802 level (on closing basis). Risks are increasing as technical indicators are loosing the upward momentum from current levels. We will advice traders to stay short in today's market, unless nifty futures closes above 5871 ... [Continue Reading]
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