13th Jan Morning Market Updates:

13th Jan Morning Market Updates  15:14
Nifty may correct today as an impact of poor IIP numbers announced yesterday.Kindly follow all buy recommendations in ositive market bias or if spot Nifty crosses 5870 as a confirmation. For a hedge one can buy 5800 puts while opening.

Today's Recommendation
BuyAxisbank Abv1315 sl1305 T1326/1332

BuyBhartiartl Abv349 sl345 T355
BuyBPCL Abv620 sl615 T631
BuyDrreddy Abv1685 sl1677 T1713P
BuyGail Abv513 sl510 T518
BuyHDFCBank Abv2220 sl2197 T2265
BuyHindalco Abv240 sl235 T247
BuyITC Abv173 sl171 T176
BuyPNB Abv1202sl1192T1220P
BuyRelcapital Abv630sl623T663 (P)

Infosys Results :
India's leading IT company announced its second quarter results today.
The management said that seasonality led to lower volume growth in the third quarter.
Infosys' performance in the December quarter has been tad below street estimates. The company has reported consolidated net profit at Rs 1,780 crore as against Rs 1,737 crore in previous quarter, a growth of 2.48% (based on IFRS - International Financial Reporting Standards).

Operating profit also increased just by 2.34% at Rs 2,147 crore as against Rs 2,098 crore on quarter-on-quarter (QoQ) basis.
According to the management, the company is currently witnessing strong volume growth as it has held on to margins despite rupee appreciation. The company’s margins constant stood at 30.2% while pricing improved by 1.6% during the quarter.
Chalking out plans, the management feels that industry could see growth of 18-20% next year. During the quarter, the company has added 40 clients. There was gross addition of 11,067 employees in the quarter. However, the company sees rupee to be volatile and feels that rupee appreciation is due to capital inflows.