Stocks In Action, 17 September 2012
DSIJ Intelligence / 17 Sep 2012
After closing hours on Friday, 14 September 2012, the government allowed 51 per cent foreign investment in multi-brand retail, 49 per cent in aviation and raised the cap from 49 per cent to 74 per cent in broadcasting. Stocks in this sector will see a major upswing today.
With the above news, keep an eye on Kewal Kiran Clothing, Koutons, Pantaloon Retail, Provogue, Shoppers Stop, Trent in retail. In the aviation sector, Jet Airways, Kingfisher Airlines and Spicejet would see an upward move. Bharti Airtel and Videocon may see the effects of the broadcasting cap increase.
The government announced that they would take up a divestment programme in 4 Public Sector Undertakings (PSUs), of 9.59 per cent in Hindustan Copper, 10 per cent in Oil India, 12.5 per cent in Nalco and 9.33 per cent in MMTC. These stocks too are likely to remain volatile today.
The government announced a diesel price hike to spur the economy but this likely to harm the already bleeding automobile sector which was being driven by a demand boost in diesel vehicles due to the parity between petrol and diesel prices in India. With this price hike, though the parity still remains, auto stocks are likely to be volatile today.
According to media reports, RIL is working on low cost base stations used in telecom services, costing at a mere Rs.1 lakh each. This is believed to be at a cost that is as low as 1/40th of the current equipment deployed by service providers. This would make RIL see an upward direction today.
Over the weekend, Oil India said it achieved record production of oil and natural gas in 2011-12. This figure stood at 3.847 million metric tonnes and 2633.29 million metric standard cubic meters for oil and natural gas respectively. The turnover and net profit of the company too were at peak levels and the stock is likely to be higher today.
Diversified conglomerate ITC inaugurated its eight property in India, the Rs.1200 crore Grand Chola Hotel in Chennai. The 600 room hotel is a significant addition to the company’s product portfolio. On the back of this news, the stock prices of ITC may trade higher.
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