Investors and traders in the market are churing their portfolios on a day to day basis, as no one is willing to pump in more money after a big move in the indices in the past 10 days.We have seen some profit booking in Auto and FMCG stocks yesterday after out performing the rest of the pack on Tuesday. We might see some positive action in PSU stocks today on the news that disinvesting government holdings may gather pace after the first week of August. Administrative ministries of around 15 PSU's have been asked to give feedback on the feasibility of coming out with initial public offers.
Reliance Communications (Rs 261) might see some early action after signing a 10,000 Crore deal with Telecom operator Etisalat DB. We like Dr. Reddy's laboratories and Divis Labs are two other stocks that look attractive from a medium term perspective. Divis Laboratories (Rs. 1075) has announced a record date for 1:1 bonus for the share holders. This might provide the much needed trigger for this quality generic drug manufacturer.
Midcap Stocks like IndiaBulls Securities, Gujarat Sidhee Cement and our favorite Deccan Chronicle continued to gain in even a sloppy market. These stocks registered double digit gains in Wednesday's trade. Telecom Majors Bharti Airtel and Idea Cellular are set to report today and are the stocks to keep on radar. Deepak Fertilizers, Gujarat State Petronet, Indian Bank, Zee News and United Phosphorus are the some other companies coming out with their Q1 numbers today.