Inflation Now Stands At 11.98%,Q1 Results Of Indian Companies: Intra Day Trading Calls For Aug 1st

01 Aug

Posted by Shyam as IntraDay Calls, Results, Inflation

The Inflation bug is back on the doors with a small rise this time for the week ending July 19,2008. The inflation figures now stands at 11.98% compared to 11.89% last week. This has been mainly due to a marginal price rise in food and manufactured goods in the last few days. Even though the inflation has inched upwards, but over all the pace of rise has been a little slower. We also saw some monetary action taken by the RBI by hiking the key interest rates like CRR and repo rate in order to contain the inflation. But the measures taken will take some time to show its effect.

Inflation stood at 4.65% in the corresponding period last year. The rising food and crude oil prices has resulted in this and it is expected to cross 13% in near future. The overall growth of the economy is slowed down by the rising inflation. The Indian markets were range bound yesterday with sensex gaining marginally by 68 points to close at 14,355 levels and nifty shut shop at 4,333 levels gaining 19 points from its previous close.

The US markets have closed in red after the GDP and job less data came in.Dow lost 1.78% yesterday.The Asian markets have also started trading in red with Nikkei-225 down by 2.21% already. So we can see a gap down open in the Indian markets today. Some of the banking stocks looks good on the cards to be bought. Investors can buy at every dip and accumulate good quality stocks for long term.

Some of the Indian companies have come up with their Q1 results yesterday.RCom came out with its Q1,2009 results where in it posted 23.8% rise in quarterly profits. But the show was rather unimpressive as compared to its rival Airtel.Suzlon has reported a rise of 97% in profits in Q1,2009.Its net profit stands at $394 million compared to $200 million last year. Tata Steel also reported a growth of 21.78% in net profits compared to the same period last year. The profit figures stood at Rs 1,488 crores.

The results season was led by DLF when it came out with its Q1,2009 results and posted a rise of 23% compared to year ago period. The profits now stands at Rs 1,864 crores with a revenue of Rs3,846 crores.It missed the the mark by a little margin the expectations. It was a bit obvious with the slow down coming in the realty sector for some time. The stock is also being hammered in the markets in the last few months.

Now some intra day trading tips for today: Tata power(cmp 1160),DLF(cmp 509),I-Flex(cmp 1402),LIC housing finance(cmp 321), UBI(cmp 132),Chambal Fertilizer(cmp 76),Cairn India(cmp 241),Tata chemicals(cmp 319).

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