Indian equities might gap up marginally on Tuesday morning as Asian markets are trading in green with Nikkei leading the charge. Wall Street closed mixed on Monday.
News Bytes
* Jindal Power IPO likely in next calendar year: JSPL
* Ranbaxy’s South African JV bags Rs 603 cr order
* Tata Chemicals to buy British Salt for Rs 660 cr
* Reliance Industries plans to shut 200,000 bpd FCC
* Lanco Infra ties up funding for Maharashtra power project
* Diamond Power eyes turnkey to double order book by March
Markets : Not much to talk about
While markets continue to trade ranged, we believe second rung IT stocks are ready for a take-off. Yesterday's trade pointed towards a big move soon in this space. We expect more consolidation in this space going into year 2011.
Place your bets on second rung IT in the short term