However, total income increased to Rs 871.58 during the third quarter of current fiscal, against Rs 818.8 crore in the same period last year.
Looking ahead, the company expects USD 180-181 million in revenue and net income (excluding the hedging gain/loss) to be in the range of USD 22.5-23 million for the fourth quarter of this fiscal.
During the quarter, the revaluation and mark to market foreign exchange gain for the quarter were at Rs 21.6 crore as compared to foreign exchange gain of Rs 19.7 crore during the previous quarter.
The company has over all cash and cash equivalents (including short term investments) post revaluation gain of USD 10.7 million, at Rs 1,416 crore, as compared to Rs 2,165.5 crore at the close of previous quarter.
Shares of Patni Computers were trading at Rs 460.10 on the BSE, down 1.11 per cent from the previous close.
There was no change in the pattern of trading in the national capital on Saturday, as prices continued to hover around previous levels in the absence of any worthwhile moving factors
Following are today's rates in Rs per quintal:
Sugar ready M-30 2,900-3,000 and S-30 2,890-2,990.
Mill delivery M-30 2,680-2,780 and S-30 2,670-2,770.
Sugar mill gate prices (excluding duty): Kinonni 2,720, Asmoli 2,730, Mawana 2,690, Titabi 2,680, Thanabhavan 2,675, Budhana 2,670 and Dorala 2,685.
It was trading with volumes of 573,661 shares. Yesterday the share closed down 0.03% or Rs 0.05 at Rs 176.50.
Share Price Movement During The Last 12 Months | ||||
Period | Price | Latest Price | Gain/Loss (Rs.) | % Gain/Loss |
3-Days | 178.55 | 170.2 | -8.35 | -4.68 |
5-Days | 182.95 | 170.2 | -12.75 | -6.97 |
7-Days | 178.9 | 170.2 | -8.7 | -4.86 |
15-Days | 172.05 | 170.2 | -1.85 | -1.08 |
1-Month | 171.35 | 170.2 | -1.15 | -0.67 |
3-Month | 163.6 | 170.2 | 6.6 | 4.03 |
6-Month | 203.29 | 170.2 | -33.09 | -16.28 |
9-Month | 217.28 | 170.2 | -47.08 | -21.67 |
1-Year | 208.71 | 170.2 | -38.51 | -18.45 |
At 4 p.m., the partially convertible rupee was at 44.28/29 per dollar, off the day's low of 44.41/50, but still weaker than 44.10/11 at close on Friday, when it had risen to 43.95, its highest since Aug. 29, 2008.
"The dollar has recovered versus majors and some of that is rubbing off on the rupee too. Stocks, however, recovered from the day's lows, capping further losses, The index of the dollar against six majors up 0.3 percent.
“Commodities will clearly catch up, they are not the leading sectors but once you have benign liquidity, they will tend to move up. Tata Steel is likely to retest levels of Rs 680–Rs 690 which has been a stiff resistance. So held support at Rs 620. I think Rs 620 to about Rs 680 should be the range to this one."
Tata Steel touched an intraday high of Rs 658 and an intraday low of Rs 641. At 14:59 hrs the share was quoting at Rs 649.20, up Rs 11.15, or 1.75%. It was trading with volumes of 1,502,101 shares. Yesterday the share closed up 0.81% or Rs 5.10 at Rs 638.05.
“Its difficult to say where the NIFTY will be by December because there could be intermittent corrections. Overall the trend remains up. His problem is that he has bought the wrong stock if he has a 3 month kind of view. Reliance Industries is an underperformer. If you have to be for 3 months you have to be in an outperformer something which is at new highs which would include Banking, Consumption, Agri those kind of themes. Reliance Industries has been unable to take out, may be highs, which it made before the judgment even after all this rally. So Reliance Industries is a longer term call right now. Its not a 3 month kind of call he needs to move his sectors in case he only has a December type of view and he is making decent money. Reliance Industries could easily come back to a Rs 1020 in case the market corrects. So we have a trading kind of view, Reliance is probably done for a while."
BSE Midcap Index was up 0.91 per cent and BSE Smallcap Index moved 1.14 per cent higher.
Sectorally, BSE IT Index was up 2.59 per cent, BSE FMCG Index gained 1.62 per cent and BSE Realty Index moved 1.60 per cent higher.
Sensex gainers included TCS (4.08%), HDFC (3.41%), IDFC (2.86%),JaiPrakash Associates (2.59%) and ITC (2.28%).
NTPC (-0.31%), Hero Honda (-0.11%) and Cairn India (-0.06%) were the only index losers.
Market breadth was positive on the NSE with 2209 advances against 1058 declines.
European markets also had a positive start. FTSE 100 gained 0.49 per cent and CAC 40 advanced 0.65 per cent.
- Vedanta Resources said on Monday the open offer price for Cairn India's minority shareholders is the final price, but added that it cannot move forward with the offer until it gets regulatory approval.
- Plastics and textile maker Sintex Industries Ltd said on Monday it posted a net profit of 734.3 million rupees on net sales of 4.95 billion rupees for the quarter ended Sept. 30.
- India's Shoppers Stop Ltd, owned by the K. Raheja group, expects same store sales, a key indicator of growth for retailers, to rise more than 20 percent from a year ago.
- The rupee resumed its climb towards 25-month highs on Monday, bolstered by firm stocks, stronger regional peers and the dollar's weakness against major currencies.
- India would intervene in the foreign exchange markets if needed to maintain stability, the Reserve Bank of India's (RBI) governor said during a panel discussion at the International Monetary Fund in Washington on Saturday.
- Finance Minister Pranab Mukherjee indicated here that the Government of India was wanting to implement more reforms in the financial sector.
- The dollar slid to a 15-year low against the yen and Asian stocks rose on Monday as U.S. jobs data boosted the chances of easier U.S. monetary policy and IMF and G7 meetings produced little to ease global currency tension.
- Gold climbed for a second day and silver extended gains to a 30-year high on speculation governments will seek ways to boost their economies by lowering currency values, boosting demand for commodities.
- Oil rose a second day in New York as speculation the Federal Reserve will pump more money into the U.S. economy drew investors and hedge funds to commodities.
Support Zone: IT HAS FIRST SUPPORT CLOSE TO THE LEVEL OF 6130 & AFTER IT MAY GET THE NEXT SUPPORT CLOSE TO THE LEVEL OF 6100.
Support Zone: IT HAS FIRST SUPPORT CLOSE TO THE LEVEL OF 12494 & AFTER IT MAY GET THE NEXT SUPPORT CLOSE TO THE LEVEL OF 12440.
At 1:10 pm; National Stock Exchange’s Nifty was at 6114.70, up 11.25 points or 0.18 per cent. The broader index touched a high of 6187.75 and low of 6105.95 in trade so far.
Bombay Stock Exchange’s Sensex was at 20305.94, up 55.68 points or 0.27 per cent. The 30-share index touched a high of 20461.27 and low of 20250.26 in trade so far.
“Nifty is showing signs of pausing after making a top of 6223 and ending the week below its 5-DMA of 6143. The undertone is quite strong as the midcap and the small cap indices have closed positively for the week.
Going forward we believe that if spot Nifty fails to hold above the 6150 level then it’s possible that we could test 6020 / 5970. Immediate support for Spot Nifty is seen in the area of 6067 – 6020 levels where buying could emerge. Resistance is seen at 6150–6185,”
BSE Midcap Index was up 0.75 per cent and BSE Smallcap Index moved 1.33 per cent higher.
BSE Metal Index advanced 1.35 per cent, BSE Auto Index climbed 1.32 per cent higher and BSE Oil&gas Index moved 0.91 per cent up. BSE IT Index was down 0.43 per cent.
Meanwhile the European markets were up with modest gains. FTSE 100 was up 0.04 per cent, CAC 40 moved 0.15 per cent higher and DAX gained 0.03 per cent.
Copper and nickel prices rose up to Rs 5 per kg in the non-ferrous metals market on Saturday on sustained buying by stockists, influenced by a firming trend in base metals at the London Metal Exchange.
Trading sentiment remained better as copper at the London Metal Exchange rose to a 27-month high after a larger-than-forecast cut in US jobs spurred speculation that the Federal Reserve will take more steps to bolster the economy which weighed on the dollar.
Meanwhile, copper for delivery in three months rose 2.6 per cent, to $8,310 a tonne.
In the national capital, copper wire scrap, copper wire bar and copper mixed scrap were up by Rs 2 each to Rs 423, Rs 442 and Rs 403, while nickel(4x4) added Rs 5 to Rs 983-987 per kg.
Following are the quotations in Rs per kg: Tin ingot 815, zinc ingot 123.50, nickel plate (4x4) 983-987, gun metal scrap 226, bell metal scrap 228, copper wire scrap 423, copper wire bar 442, copper mixed scrap 403.00, utensil scrap 224 and Chadripital 175.
Lead ingot 125, lead imported 127, aluminium ingots 102, sheet cutting 105, aluminium wire scrap 102 and aluminium utensils scrap 102.
Nifty Futures Support and Resistance
Resisatnce Zone: IT HAS FIRST RESISTANCE CLOSE TO THE LEVEL OF 6175 & AFTER IT MAY FACE THE NEXT RESISTANCE CLOSE TO THE LEVEL OF 6208.
Support Zone: IT HAS FIRST SUPPORT CLOSE TO THE LEVEL OF 6103 & AFTER IT MAY GET THE NEXT SUPPORT CLOSE TO THE LEVEL OF 6064.
Bank Nifty Futures Support and Resistance
Resistance Zone: IT HAS FIRST RESISTANCE CLOSE TO THE LEVEL OF 12618 & AFTER IT MAY FACE THE NEXT RESISTANCE CLOSE TO THE LEVEL OF 12711.
Support Zone: IT HAS FIRST SUPPORT CLOSE TO THE LEVEL OF 12449 & AFTER IT MAY GET THE NEXT SUPPORT CLOSE TO THE LEVEL OF 12372.
- Bharti Airtel will partner telecom gear makers Ericsson and Huawei to expand and manage its mobile network in Bangladesh, where it took control of a mobile carrier this year.
- Tata Steel the world's seventh-largest steelmaker, said on Thursday sales from its Indian operations rose 14 percent in the July-September quarter, to 1.66 million tonnes.
- Kalpataru Power Transmission will invest Rs 90.04 crore in its unit JMC Projects India owards preferential issue of 43.5 lakh shares at Rs 207 each.
- The rupee strengthened to its strongest level in 25 months on Thursday, probably on inflows related to a qualified institutional placement by a large automobile company.
COMMODITY | EXCHANGE | CLOSING PRICE | % CHANGE |
JEERA | NCDEX | 13170 | -0.58% |
PEPPER | NCDEX | 18761 | -0.01% |
TURMERIC | NCDEX | 14600 | -0.48% |
GUARSEED | NCDEX | 1975 | 0.71% |
GUARGUM | NCDEX | 4693 | 0.28% |
CHANA | NCDEX | 2309 | 0.17% |
SOYABEAN | NCDEX | 2062 | 1.13% |
SOYA OIL REFINED | NCDEX | 498.8 | 0.96% |
MUSTARDSEED | NCDEX | 545.3 | 0.62% |
COTTONSEED | NCDEX | 1057.5 | 1.54% |
GUR | NCDEX | 978.8 | 1.31% |
POTATAO | NCDEX | 578 | 1.85% |
CARDMOM | MCX | 1035 | 0.90% |
MENTA OIL | MCX | 933.1 | 4.00% |
- UltraTech Cement's production rose 2.91% to 28.19 lakh metric tonne, while dispatches rose 2.71% to 28.47 lah metric tonne, in September 2010 over September 2009.
- Real estate firm Oberoi Realty Ltd said on Tuesday it is planning to foray into new cities such as the National Capital Region, Hyderabad and Bangalore.
- RIL reportedly plans to raise at least $1 billion in the biggest dollar-denominated bond sale by a non-bank India company to fund investments.
- The rupee recovered from the day's lows on Tuesday afternoon tracking losses in the dollar versus major currencies and also boosted by continued capital inflows into.
- The Reserve Bank of India (RBI) is considering measures to deal with an influx of foreign fund flows, a RBI deputy governor said on Tuesday, adding that inflation persists well above the Reserve Bank's comfort zone.
- Foreigners have bought a record $19.7 billion of Indian equities this year, with about one-third of that entering the market since the start of September, putting upward pressure on the rupee.
- The yen fell and government bond futures jumped on Tuesday after the Bank of Japan unveiled a slew of monetary policy easing steps, while Australia's dollar tumbled as its central bank unexpectedly held interest rates steady.
- Federal Reserve Chairman Ben S. Bernanke called on U.S. lawmakers to consider rules limiting federal spending, annual deficits or accumulated debt to curtail the risk of a fiscal crisis.
- Oil rose to trade near an eight-week high after the U.S. Federal Reserve Chairman said the central bank's asset sales have boosted the economy, while disruptions at France's biggest oil port continued.
News Highlight
US Gold hits record above $1,330/oz as dollar slides.
US Oil rises after Japan cuts rates, dollar falls.
US Copper rises on weak dollar, tin at contract high.
Indian Spices rally; Jeera rebounds from contract low.
Fundamental Review
US Gold rallied to record highs above $1,330 an ounce in Europe on Tuesday as the dollar fell versus the Euro, with recent volatility in the currency markets boosting demand for the metal as a safe store of value. US Copper rose in synch with precious metals on Tuesday, as the Euro jumped versus the dollar and after Japan unexpectedly lowered interest rates, raising expectations of further boosts for other major economies.
GOLD(DEC) TREND BULLISH:R2 19450 ,R1 19260, S1 18800, S2 18500 STRATEGY Buy on Dips
SILVER(DEC) TREND BULLISH: R2 33900, R1 33500 , S1 32850, S2 32500 STRATEGY Buy on Dips
COPPER(NOV) TREND CONSOLIDATE: R2 376, R1 368, S1 356,S2 348 STRATEGY Buy on Dips
CRUDE(OCT) TREND CONSOLIDATE: R2 3750 ,R1 3700, S1 3615 ,S2 3545 STRATEGY Buy on Dips
NATURALGAS(OCT) TREND CONSOLIDATE: R2 178, R1 173, S1 162, S2 155, STRATEGY Sell on Higher levels
LEAD(OCT) TREND CONSOLIDATE: R2 105.60, R1 103.30, S1 99.00,S2 97.10 STRATEGY Buy on Dips
ZINC(OCT) TREND CONSOLIDATE:R2 104.40, R1 101.20, S1 97.70, S2 95.50, STRATEGY Buy on Dips
NICKEL(OCT) TREND CONSOLIDATE:R2 1155, R1 1110, S1 1038, S2 1000 STRATEGY Buy on dips
NCDEX LEVELS
SOYABEAN(NOV) TREND CONSOLIDATE :R2 2050, R1 2020,S1 1950, S2 1910 STRATEGY Sell on Higher Levels
TURMERIC(OCT) TREND CONSOLIDATE: R2 14510, R1 14250, S1 13800,S2 13580 STRATEGY Buy on lower levels
GUARSEED (OCT) TREND BEARISH :R2 2120, R1 2095, S1 2030, S2 1990, STRATEGY Sell on Higher Levels
CHANA(OCT TREND CONSOLIDATE : R2 2375,R1 2330,S1 2274, S2 2240 STRATEGY Sell on Higher Levels
JEERA(OCT) TREND CONSOLIDATE: R2 13700, R1 13460, S1 13100, S2 12950 STRATEGY Sell on Higher Levels
PEPPER(OCT) TREND BEARISH: R2 19400, R1 19150, S1 18480, S2 18200 STRATEGY Sell on Higher Levels
GUR(NOV) TREND CONSOLIDATE : R2 985, R1 978, S1 940, S2 928 STRATEGY Sell on Higher Levels
MUSTARDSEED(NOV) TREND CONSOLIDATE : R2 551, R1 545.50, S1 537, S2 526, STRATEGY Sell on Higher Levels
The jobless rate probably rose in September for a second month
as the year-old U.S. recover failed to generate enough jobs to keep
up with a growing labor force.
Corporate News:
* India’s government has started fresh talks with Axis Bank to sell its stake in the bank amid soaring stock markets
* Hero Honda Motors Ltd. sold 433,641 units in September,
compared with 401,290 a year earlier
* JSW Steel Ltd. and Steel Authority of India Ltd.: The
companies raised prices of the alloy by as much as 3 percent starting
on Oct. 1.
Impact: Positive
* National Aluminium Co. will complete a deal with coal
suppliers in Indonesia by January to provide fuel for its $4 billion
aluminum project in that country.
* Reliance Industries Ltd. cut crude oil output at the MA
offshore field in the KG-D6 block to 22,000 barrels a day for about
two months, compared with about 31,000 barrels a day in April.
* Sun Pharmaceutical Industries Ltd. received tentative approval
from the U.S. drug regulator to sell a copy of Orion Pharmaceuticals
Inc.’s Stalevo tablets, used for the treatment of Parkinson’s disease.
Impact: Positive.
* Tata Motors Ltd. is seeking to raise at least $525 million
selling shares to institutional investors to help reduce debt and fund
growth.
* Dabur India Ltd., a maker of packaged honey, traditional
medicine and hair oil, plans acquisitions overseas as domestic competition intensifies
* JP Associates September Cement sales rose form 727000 to 1.17
million tonnes
Impact: Positive.
* KPIT Cummins acquires CPG Solutions
Impact: Positive
* Tata Steel hikes prices by up to Rs 1,500 a tonne
Impact: Positive.
Bajaj Auto (BAJAJAUTO.NS: 2101.05 dwn) rallied nearly 3 percent to an all-time high after the No. 2 motorcycle maker said September sales rose 26 percent.
Car sales in India raced ahead in September helped by strong economic growth, while demand in the United States, Europe and Japan stayed stuck in low gear.
Maruti Suzuki, Tata Motors (TATAMOTORS.BO:1136.05 +38.75 up) and Mahindra & Mahindra were up between 0.8 percent and 3.2 percent.
Mahindra Satyam (SATYAM.BO: 90.75 -0.45 dwn) earlier known as Satyam Computer Services, was down 0.7 percent in choppy trade after the outsourcer said on Friday it had received a notice from the U.S. Securities and Exchange Commission saying the market regulator may file a civil suit alleging fraud.
By 10:53 a.m. (0523 GMT), the 30-share BSE index was up 0.79 percent at 20,606.94 points, with 21 of its components advancing.
In early trade, the benchmark rose as much as 1.3 percent and hit 20,706.74, its highest since January 2008, and is about 600 points away from a record high. The index is up nearly 18 percent in the year to date.
"No one wants to read into any caution right now. People are ignoring all likely negatives and are focused on optimism,"
Foreign funds have pumped $19.2 billion into Indian equities so far in 2010, compared with $17.5 billion in 2009.
Bajaj Auto was up 2.1 percent at 1,575.45 rupees after hitting a record 1,589.90.
Financials firmed as investors expected loan demand to catch up in the world's second-fastest growing major economy after China.
Top lender State Bank of India (SBIN.NS:3274 +1.85) was up 0.7 percent while rivals ICICI Bank (ICICIBANK.NS:1165.85 +30.65 up) and HDFC Bank rose 2 percent and 0.3 percent respectively.
IT firms rose after Accenture raised its earnings outlook for the new fiscal year on Friday and boosted its dividend, defying concerns that a sluggish global economy could hurt sales.
Leading outsourcers Tata Consultancy Services (TCS.NS: 963.3 +1.5 up), Infosys Technologies (INFOSYS.BO:3117 +13.6 up), and Wipro (WIPRO.NS:470.55 +8.85 up) were up between 1.3 percent and 2.1 percent.
In the broader market, gainers led losers in a ratio of 1.7:1 on volume of 183 million shares.
The 50-share NSE (^NSEI:6180 +36.6 up) index was up 0.8 percent at 6,190.60 points.
Elsewhere, the MSCI's measure of Asian markets other than Japan was up 1 percent, while Japan's Nikkei traded flat.
STOCKS ON THE MOVE
* Sun Pharmaceutical Industries rose 1.7 percent to 2,064 rupees after the drugmaker said late on Friday it got tentative U.S. FDA approval for generic Stalevo tablets.
* Jaiprakash Associates
MAIN TOP 3 BY VOLUME
* Koutons Retail on 5.6 million shares
* Suzlon Energy on 4.9 million shares
* Tirupati Inks on 4.7 million shares
It was trading with volumes of 5,926,110 shares. Yesterday the share closed up 12.43% or Rs 25.90 at Rs 234.30.
Share Price Movement During The Last 12 Months | ||||
Period | Price | Latest Price | Gain/Loss(Rs.)
| % Gain/Loss |
3-Days
| 211.05
| 247.35
| 36.3 | 17.2 |
5-Days
| 208.3 | 247.35
| 39.05
| 18.75 |
7-Days
| 207.75
| 247.35
| 39.6 | 19.06 |
15-Days
| 185.4 | 247.35
| 61.95 | 33.41 |
1-Month
| 187.55
| 247.35
| 59.8 | 31.88 |
3-Month
| 166.50
| 247.35
| 80.85 | 48.56 |
6-Month
| 156.45 | 247.35
| 90.90
| 58.10
|
9-Month
| 188.50
| 247.35
| 58.85 | 31.22 |
1-Year
| 181.55
| 247.35
| 65.80
| 36.24 |