Dalal Street is all set to open higher on Friday thanks to positive Asian markets and renewed buying momentum after yesterday's big rally. Wall Street closed in the green while Asia opened strong today. Nikkei is up 0.4 pct while Kospi is trading 0.9 pct
TCS - Strong numbers
TCS posted a 32% increase in net profit to Rs 2169 crore in the second quarter ended September 2010, boosted by increased outsourcing orders from overseas clients.
TCS was the first IT company to clock $2bn revenue. Current workforce utilization is 83.8 per cent, the highest ever recorded by the company
All in all the stock will get a rousing reception today.
ACC - Q2 disappoints
ACC reported a 77% drop in its quarterly standalone net profit at Rs 100.04 crore. Total income dipped 15.8% to Rs 1,688 crore.
Q2 numbers today
Biocon, Indian Bank, NIIT, SKS Micro, Sobha Developers, Thomas Cook, Vijaya Bank and Wipro reports today.
Nifty looks strong
Thumping response to Coal India and reports that part of the money refunded from Coal India IPO might find its way back to the secondary market is definitely a reason to cheer for Bulls. Q2 numbers were inline with expectations and companies like TCS have outperformed too.
We would stick to our Technical level of 6170-6180 band, a break above which Nifty will see a rocket like move.