A leading private sector bank Axis Bank Ltd. has announced its third quarter (ended December 2010) results today. The company has reported net profit of Rs 891 crore in Q3FY11 as against Rs 656 crore in previous quarter, which recorded growth of 35.82%. While net interest income (NII) grew by 28.47% to Rs.1,733 crore from Rs.1,349 crore on, year on year basis (YoY). Other income also raised to ... [Continue Reading]
L&T Q3 Net Profit Surges 9.34% to Rs.840.6 crore
India's largest engineering firm Larsen & Toubro Ltd. (L&T) has announced its quarter 3 (Q3) results today. The company has reported a net profit of Rs.840.6 crore in Q3FY11 as against Rs.768.8 crore in same period of previous year, a growth of 9.34%. Also, the company earned one time gain of Rs 35 crore. Strong growth in revenues which was reported a surge of 40.52% to Rs.11,413 crore ... [Continue Reading]
Nifty Futures: Support Resistance Level For 17 January 2011
Nifty futures saw a negative breakdown of 5700 level, heading towards 5631 level. We now have negative outlook in nifty, we see we can correct towards 5515 level or even 5466 level. The major negative news in markets are growing inflation, surging crude oil prices, this will create pressure in interest rates in near term. So we will look for the selling opportunity near 5678 level for near term ... [Continue Reading]
Petrol Price Hike for the Second time in January
India's leading oil marketing companies (OMC) has hiked the petrol prices by Rs.2.54 from Saturday midnight. This is a second price in the month of January 2011. This price hike will worry the markets participants in short term as price hike will create inflation pressure. How Will Petrol Prices Affect the Stock Market: Whenever price hike is imposed on petrol, we have seen profit booking in the ... [Continue Reading]
Nifty Futures Support Resistance Level For 14 January 2011
Nifty futures was trading in range for previous 2 sessions after 6 days of straight correction. But nifty still above 5700 mark is a relief for markets. So we can conclude that a consolidation period will continue for few session before a bounce back to 5950 levels. So as long as nifty is trading above 5700 level we see limited downside upto 5700 with upside potential target of 5950 level. So we ... [Continue Reading]
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