Sterlite Industries.
Revenues had increased by 15.4% due to increased volumes in Copper and Zinc business and LME prices. Though the raw material costs has increased with the copper concentrate being lower from its copper mines. The employee cost had increased due to wage settlement at HIND Zinc. There have been capacity expansion to the extent of 15%. The inventories have also improved.
Sterlite Industries is largely looking to consolidate and integrate its existing business. The stock may be researched further for Investment.
Tata Steel
Tata steel has recently got an approval to increase the capacity at its Jamshedpur plant by 45%. This stock has been beaten down during the recent correction in the market. The appreciation of Yuan has been playing into the increasing interest in commodity stocks. One may look to invest in this stock after further research.
Nifty ETF
Trading at near its 52 week high. One may become book profits at these levels as Nifty BeES might face resistance at 540 levels. There has been a continous rally in the last 10-12 trading sessions. It is advisable to have short positions in the index. I ex[ect the european markets to open gap down after the french bank BNP Paribas was downgraded by fitch. However i expect the market to start finding some support at 5300 levels.
Other News
The Supreme court has decided that there should be a payment of Rs 1 lakh / tower in delhi. If the same gets implemented pan India the impact could be heavy.
The rollover have been lower for this month vis a vis the last month roll overs.
No comments:
Post a Comment