Tuesday, October 23, 2012
Nifty Range |Stocks Watch Today
Nifty Range Today :- The Nifty remains in a tight range of 5650-5740 and is looking to break out either way for the last 10 trading sessions. The 50-share Nifty index is expected to open soft on Tuesday tracking mixed Asian markets, while investors will keep a close eye on Cairn India and Idea Cellular as both companies reported their quarterly results post market hours on Monday.
Stocks To Watch Today :- Cairn India Ltd after the company said it has more than tripled its net profit in September quarter to Rs. 2,322.18 crore on the back of higher production, and will consider its maiden dividend payout on October 31.
Idea Cellular Ltd after the mobile phone carrier reported its quarterly profit more than doubled, as expected, on the back of higher revenue. The Aditya Biral Group company said its profit for the three months ended September 2012 jumped 127% to 240 crore even as sales rose sharply by 15% to 5,314 crore, compared to the corresponding period last year.
Lupin Ltd will be in focus ahead of quarterly results. The pharma major is likely to report a 4 per cent YoY growth in its net profit for the quarter ended September 30 to Rs 279 crore from Rs 267 crore reported in the year-ago period, according to ET Now estimates.
Sterlite Industries Ltd will be watched ahead of its quarterly results. The company is likely to report a net profit of Rs 1,250 crore for the quarter ended September 2012, up 25 per cent, against a net profit of Rs 997.8 crore in the same quarter a year ago, according to ET Now poll estimates.
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