Stocks In Action: October 19, 2012

Pennar Engineered Building Systems Limited (PEBS Pennar), a subsidiary of Pennar Industries Limited, has bagged four orders worth Rs 50 crore from IOT Infrastructure & Energy Services Limited (IOT), Oil Country Tubular Limited (OCTL), Dynatron Services Private Limited and East Line Steels Private Limited. The Rs 1,440-crore Pennar Industries is engaged in the production of cold-rolled steel strips, metal profiles and engineering components. On the back of this news the scrip may see some positive momentum today.

As per news reports, Lupin Pharmaceuticals yesterday said that its subsidiary has received the American health regulator USFDA’s approval to market its generic oral contraceptive tablets ‘Kurvelo’ in the U.S. market. The approval has been granted to its subsidiary, Lupin Pharmaceuticals Inc. Post this news one may see some positive movement in the stock today.

Persistent Systems announced its September quarter result yesterday wherein it reported a net profit of Rs 44.64 crore - up by 37.8 per cent on a year-on-year basis. Traction in the company’s intellectual property (IP)-focused business drove PS’ revenue for the second quarter ended September 30, 2012. The revenue for the quarter grew by 37.2 per cent year-on-year at Rs 326.86 crore. The IP-led revenue for the quarter jumped by 48 per cent year-on-year from USD 7.65 million to USD 11.36 million. Considering these figures, one may see some positive momentum in the stock today.

As per news reports, telecom major Bharti Airtel yesterday launched its fourth generation (4G) broadband services in Pune. The services, however, will be available only to postpaid customers as of now. Bharti Airtel is the only company to start 4G data services in the country and Pune is the third city on its network. The company already offers high-speed wireless broadband services in Kolkata and Bangalore. Bharti Airtel has priced the devices at Rs 4,999 and the monthly tariff plans are priced between Rs 999 and Rs 2,999. The company has also announced a package of Rs 150 for Airtel broadband TV service that will allow users to access close to 76 channels and on-demand videos. The launch of the 4G service will help the company to strengthen its market share in the coming years. This is a positive step taken by the company and one may see an upside in the stock today.

Of the companies that are to announce their Q2FY13 results today are Adani Ports, Adani Power, Alembic Pharma, Bajaj Finserv, eclerx, Exide, Gati, Gujarat State Fertilizers Company, ING Vysya Bank, ITC, L&T Finance, NIIT, Raymond, South Indian Bank, Strides Arcolab, Tata Sponge, TCS and Zee Entertainment. These stocks are likely to see volatility with the market direction being defined by how the results are.