INDIAN BENCHMARKS fell after earlier marking their highest levels.
INDIAN EQUITY BENCHMARKS fell after
earlier marking their highest levels in five weeks as mobile carriers such as
Idea Cellular slumped on possible high bidding prices at a spectrum auction
next month after eight companies applied to bid. Shares of HCL Tech gained
after they reported a net profit of Rs 1,496 crore. Axis Bank, the country's
third largest private sector lender, reports a 19 percent growth in third
quarter net profit to Rs 1,604.11 crore.
Further, Bajaj Auto Ltd has posted a net
profit after tax of Rs. 9045.50 million for the quarter ended December 31, 2013
as compared to Rs. 8187.40 million for the quarter ended December 31, 2012. Shares
in Ranbaxy Laboratories gained as reports the company has partnered with an
unnamed multinational drug maker. Specialty Restaurants jumped 6% to Rs 135.50
after the company said it has incorporated a joint venture company with
Al-Mohannadi Group in Doha.
The crucial resistance for Nifty is now
seen at 6360 and above this 6415. Support for the immediate term
is now placed at 6295 and next
support will be 6265.
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News to watch:
·
Watch out for the quarterly earnings of
Wipro, Reliance and Federal Bank on 17th Jan.
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