'India' Tag RSS Syndication from SeekingAlpha.com Equitymaster submits:

Indian markets traded amidst volatility today but managed to end marginally in the positive. It largely toed the line of corporate India, which outlined some mixed performance today. Stocks from the banking and FMCG sectors were the best performers today. Those from the oil & gas and pharma sectors fared amongst the worst. On the broader BSE, one stock declined for one that closed in the positive.

The BSE Sensex and NSE Nifty closed with gains of around 35 points (0.2%) and 15 points (0.3%) respectively. Midcap cap stocks followed suit, as the BSE Midcap index closed up by around 0.2%. The BSE Smallcap index closed marginally weak.

Complete Story » Equitymaster submits:

With markets making further inroads into the negative territory, the indices closed the day significantly in the red. The BSE Sensex lost in the region of 120 points today (down 0.7%) whereas NSE Nifty shed around 30 points (down 0.6%). BSE Midcap and Small cap indices also ended lower however the selling was not as intense as in their larger counterparts. The advance to decline ratio stood at 2:3 on the overall Sensex as 3 stocks declined for every two that gained. Among heavyweights, Reliance Industries proved to be the wrecker in chief as more than 60% of the decline in Sensex could be attributed to the energy major. While the company did post decent results, perhaps the expectations from the market were quite high given the heavy selling pressure the stock came under.

India was the only major Asian index that closed in the red today as all the others witnessed good amount of buying interest. Europe though is trading largely in the negative currently. The rupee was trading at Rs 46.7 to the dollar at the time of writing.

Complete Story » Equitymaster submits:

The BSE Sensex and NSE Nifty closed with gains of around 55 points (0.3%) and 10 points (0.2%) respectively. Midcap cap stocks followed suit, as the BSE Midcap index closed up by around 0.3%. The BSE Smallcap index closed marginally weak.

Complete Story » Equitymaster submits:

Markets continued to go downhill during the closing hours of trade, thus ending the day significantly in the negative. The BSE Sensex lost around 110 points (down 0.6%) whereas NSE Nifty shed in the region of 30 points (down 0.6%). Fall in BSE Midcap and Small cap indices was even greater, with both the indices losing in the region of around 1% each. Two stocks declined for every one that gained ground on the Sensex today.

Among global indices, while Asian indices closed mostly in the green today, mixed trend is being observed in Europe currently. The rupee was trading at Rs 47 to the dollar at the time of writing.

Complete Story » Robert Salomon submits:

For those of you who read my blog, you know that I’ve had an interest in Tata’s (TTM) acquisition of Jaguar and Rover. When it was announced, I failed to see the value proposition in the combination of Tata and JLR, and I remain somewhat skeptical of JLR’s ability to provide value to Tata (for background see Jaguar/Rover Revisited, Jaguar/Rover Update, and Buyer’s Remorse).

Irrespective of my opinion, it was with great interest that I read this week’s Economist, which contained an article on Tata’s progress with those previously beleaguered brands:

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Syntel, Inc. (SYNT)

Q2 2010 Earnings Call

July 22, 2010 10:00 am ET

Complete Story » Equitymaster submits:

While the indices languished in the red for a larger part of the trading session today, renewed buying at lower levels towards the tail end of the day led the indices to close well above the dotted line. While the BSE Sensex closed higher by around 136 points (up 1%), the NSE Nifty gained around 43 points (up 0.8%). Midcap and smallcap stocks also did well as the BSE Midcap and BSE Smallcap notched gains of 0.4% and 0.3% respectively. Barring IT stocks, stocks across sectors closed in the green.

As regards global markets, Asian indices closed mixed today while European indices have opened in the green. The rupee was trading at Rs 47.18 to the dollar at the time of writing.

Complete Story » Trader Mark submits:

I cannot find any specific news on Dr. Reddy's Laboratories (RDY) and it was not down a material amount in India overnight, so I am not sure why it is being hit so hard in the U.S.

Whatever the case, in the past two sessions it has weakened considerably and if it closes where it is as I type, it will have broken the 50-day moving average on a closing basis for the first time since mid May. That is always a concern and the general policy when this happens is reduce exposure and then watch what it does next.

Complete Story » Equitymaster submits:

Strong buying activity across index heavyweights throughout today's trading session led the indices to close well above the dotted line. While the BSE Sensex closed higher by around 99 points (up 0.6%), the NSE Nifty gained around 31 points (up 0.6%). Midcap and smallcap stocks also did well as the BSE Midcap and BSE Smallcap notched gains of 0.5% and 0.4% respectively. While metals, auto and oil & gas stocks found favour, healthcare stocks were at the receiving end.

As regards global markets, Asian indices closed mixed today while European indices have opened in the green. The rupee was trading at Rs 47.26 to the dollar at the time of writing.

Complete Story » Trader Mark submits:

First a few quick words on earnings season. We're just over a week into it and "sell the news" is dominating.

Monday evening we had IBM (IBM) and Texas Instruments (TXN). IBM is doing fine on the bottom line but the top line is struggling. This is not really an American company anymore but a true multinational with 60%+ of its business overseas, so currency shifts affect it greatly. That issue, along with some weakness in future order flow, appears to be the culprit. Why do we care about IBM? In the (stupid) price-weighted Dow, the higher the share price the more effect the stock has on the index; hence IBM is a massive weight at 9%, or about 3x as much impact as a more practical equal weight index. Therefore, IBM's performance is going to have an outsized effect on today's action. As an aside, the Texas Instruments report was actually quite fine, but "sell the news" is hitting it just as did Intel a week ago. This must be respected.

Complete Story » Outsourcing Insider submits:

By Audrey B.

Expectations were high for the end of quarter results of India’s number two outsourcer, Infosys (NASDAQ:INFY). As the first of its peers to release quarterly results (see earnings call transcript here), the outsourcing company is responsible for setting the tone for India’s outsourcing sector. It was therefore a big disappointment when Infosys announced a 2.6% drop in profit for the period of April to June 2010.

Complete Story » Equitymaster submits:

Indian markets had a rather volatile session today as they oscillated to either side of Friday's close. Any foray above the dotted line proved futile as renewed profit booking at higher levels took a toll. While the BSE Sensex closed lower by around 27 points, the NSE Nifty lost around 7 points. Midcap and smallcap stocks managed to buck the trend as both the BSE Midcap and BSE Smallcap closed higher, albeit with miniscule gains. While banking and metals stocks found favour, FMCG stocks were at the receiving end.

As regards global markets, Asian indices closed in the red today while most European indices have opened in the green. The rupee was trading at Rs 47.10 to the dollar at the time of writing.

Complete Story » IPE at UNC submits:

by Kindred Winecoff

Matthew Continetti asks a good question:

Why do Americans spend so much time analyzing China's growth, but not India's? Yes, the growth of Chinese economic and military power since Deng Xiaoping proclaimed "to get rich is glorious" has been nothing short of extraordinary. But India has also embraced markets over the years, and the results have been equally amazing. We tend to think of India in terms of its relations with Pakistan and Afghanistan, and in terms of its cultural power, rather than in terms of the economic and geopolitical benefits of a prosperous South Asian democracy. But that should end. We have a lot to gain by befriending India, and a whole lot to lose.

Complete Story » Michael Johnston submits:

ETF analysts Michael Johnston and Eric Dutram talk about the recent shift in the competitive landscape and debate the ultimate impact iShares’ decision to slash expenses on its gold ETF. Watch the video below to hear their thoughts on the recent escalation of the ETF “price wars,” as well as what surprised them most about the announcement.

The team also discusses a couple of the more interesting new ETF products to hit the market in recent weeks, focusing on some of the most targeted ETF options for emerging markets exposure:

Complete Story » World Market Pulse submits:

The Indian Cabinet finalized a symbol for its currency, the Indian Rupee on Thursday July 15th 2010, denoting the strength of its growing economy joining a select club of countries whose currencies have a unique identity. The Indian Rupee today became the fifth currency in the world to get its unique symbol which is an amalgam of the Devnagiri Script 'Ra' and the Roman capital 'R' without the stem and two parallel lines running at the top symbolizing an equality sign.

India retains the reputation of developing the concept of coinage and issued some of the earliest coins in the history of mankind, which were the base for other currencies of the world. Continuing on the trails of its golden heritage, the Indian Rupee, the currency of Modern day India has formalized a new symbol for the Indian rupee, which reflects and captures the Indian ethos and culture. The Indian rupee is one of the well-established currencies in the world and in terms of sheer volume, the Indian Rupee is one of the most widely used financial instrument in the world currently being used by almost 20% of the world's population. With India becoming the hotbed of financial investment in recent times, the Indian Rupee is now ready to write a new chapter to complement its glorious past heritage. The significant strength exhibited by the Indian rupee in the recent years along with the continued good performance of the Indian economy have raised the issue of greater internationalization of the Indian rupee. Developing an important brand for the wider Indian economy among international investors and highlighting India's increasing global economic ambitions, the country has joined an elite group as the Indian cabinet approved a new symbol for its national currency emulating the pound, the euro, the dollar and the yen in having its unique distinguishing identity.

Complete Story » Equitymaster submits:

Indian markets closed on a weak note for the second consecutive day. Today's weakness was largely owing to selling in stocks from the energy and realty sectors. FMCG and IT stocks however bucked the trend and closed strong. On the broader BSE, one stock lost for every one that closed in the positive.

The BSE Sensex and NSE Nifty closed with losses of around 30 points (0.2%) and 5 points (0.1%) respectively. However, mid and small cap stocks bucked the trend. Both the BSE Midcap and BSE Smallcap indices closed up by 0.1% each.

Complete Story » Equitymaster submits:

A strong bout of profit booking led the indices to head lower during the closing hours of trade and thus end the day in the negative. While Sensex closed with a loss in the region of 50 points (down 0.3%), NSE Nifty too edged lower by around 15 points (down 0.3%). BSE Midcap and Small cap indices also inched below the break even mark today, registering a marginal decline. Nearly three stocks declined for every one that gained on the Sensex today.

While most Asian indices closed in the positive today, Europe has opened on a mixed note. The rupee was seen trading at Rs 46.6 to the dollar at the time of writing.

Complete Story » Gad Allon submits:

by Martin Lariviere

A few weeks ago I asked where sewing would be done in the future. One could equally ask where cars will be made. Detroit has long been synonymous with building cars but that business has clearly been winding down. Now The Wall Street Journal offers a suggestion as to what will be the new Detroit (A New Detroit Rises in India’s South, Jul 9). It points to Chennai in the state of Tamil Nadu, India.

Complete Story » Shlomi Cohen submits:

Yesterday marked the opening of SEMICON West in San Francisco, which calls itself the flagship annual event for the global microelectronics industry - from electronic design automation to processing and manufacturing. Analysts at investment bank Needham & Company recommend semiconductor equipment stocks, and they think that an optimistic conference this week will launch a wave of investor demand for the shares.

Among Needham's recommended stocks is Israeli firm Nova Measuring Instruments Ltd. (Nasdaq:NVMI), which on Thursday announced several installations with a total of seven new customers by the end of the third quarter. The announcement, and announcements of other new orders in the second quarter, is likely to lead Nova management to raise guidance for its annual results for the second time this year. With the release of first quarter results in May, the company raised annual revenue guidance to up to $66 million, compared with guidance for $63 million issued in February.

Complete Story » Larry Dignan (ZDNet) submits:

Infosys’ (INFY) first quarter results were in line with expectations for the most part and the outlook also looks solid. However, the Indian outsourcing firm is wrestling with a 25 percent spike in employee attrition—the highest mark since 2004, analysts say.

The turnover figures are always worth tracking for Indian outsourcing firms. These companies are moving upstream to more “transformational” deals including business process outsourcing and consulting. Meanwhile, these companies are in growth mode and a high attrition rate becomes a bit of a distraction.

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