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Wednesday, January 15, 2014

INDIAN trimmed some of their early gains on profit taking at higher levels after stocks surged to five week highs on Wednesday after sharp decline in December WPI raised hopes that the RBI would continue to maintain status quo on key policy rates. Shares of HCL Tech trading higher by 2% at Rs 1,366 after it posted a Q2 consolidated net profit of Rs 1,496 crore, up 5.7% q-o-q and 58.4% y-o-y. Consolidated revenue came it at Rs 8,184 crore, up 2.8% q-o-q and 30.4% y-o-y.

TCS was marginally up ahead of its third quarter earnings scheduled to be announced later today. Shares of Bharti Airtel, Idea Cellular and Reliance Communication are succumbing to selling pressure as the telecom operators applied for spectrum auction slated for February 3.

Trend in FII flows: The FIIs were net buyers of Rs. 713cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 690cr, as per the provisional figures released by the NSE.


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