Watch out for Oil stocks like Cairn India for some gains today.
In an interesting development, the government is proposing to increase foreign direct investment in Direct-to-Home (DTH) to 74 per cent, and up to 24 per cent in FM Radio.We like Dish TV Rs 40.10, Sun Tv Rs 243 and our favorite Rs 179. Bag Films and Adlabs are other companies that have minor exposure to FM radio.
Investors have punished Tata Motors, which fell more than 8 percent on reporting huge loss for the quarter and the Suzlon Energy got it's share of treatment as investors dumped the stock after lacklustre results. It will be interesting to see how the stock of Pyramid Saimira reacts to the news of sale of its assets abroad.
As expected midcaps fared better yesterday with a 1.14 percent against a 0.14 percent gain on the Sensex. JP Hydro, Praj Ind, Indus Ind Bank, Educomp and Glory Polyfilms are some of the stocks to keep on radar from a short term perspective.