After a modest start indices lost the gains on ground on some selling pressure. Profit booking was seen in Large caps while midcaps and small caps saw some value buying. IT and Auto took the hit while among the gainers were Banks, oil and gas, realty, metals and power stocks. Markets remained ranged bound between 200 points for most part of the day. Though the global cues were negative Indian markets seems to be isolating slowly from the US markets. RIL was major gainer as investors are expecting it to come out with Reliance Fresh IPO. Results season is on cards and expectations are high. Asian markets ended in red. European Indices are trading mix.
Sensex was down by 99 points at 20728.05.Weighing on the Sensex were losses in Bharti Tele (907.3,-6 percent), Wipro (461.4,-5 percent), Maruti (854.95,-5 percent), Infosys (1530.2,-3 percent) and TCS (960.8,-3 percent). Losses were restricted by gains in Hero Honda (704.15,+7 percent), NTPC (284.95,+5 percent), RIL (3216.3,+3 percent), BHEL (2473.95,+2 percent) and RCVL (805.15,+1 percent).
Sayaji Hotels is mainly in the hotel and restaurant business. The hotels of the company are located in Indore and Baroda. The restaurant business of the company is managed by a 100% subsidiary 'Sanchi Hotels Pvt Ltd' which was formed in October 2006. The restaurants of the company are operational under the brand name of 'Barbeque-Nation' and come in the category of high end restaurants. Restaurant business seems to be the next revenue driver for the company. Sayaji is now in the transition phase. Sayaji can be considered as an investment option with 2-3 year time frame the back of favorable macro scenario. Do read our note on the company to know why. Sayaji closed higher by 6% for the day.
Balkrishna Industries is into manufacturing of Agri and OTR tyres. 80% of the tyre revenues are from exports. Majority of the exports are to Eastern Europe with 60% to the Agriculture sector. The company's performance was good especially in the headwinds of higher raw material prices. It is in the process of expansion and that is because the demand supply remains in favour of the company. There are not much global capacities coming on and the demand scenario is quite robust. The company is extremely confident of having price hikes and maintaining its margins. The stock has performed since our coverage. Do read our research note to know more.
Technically Speaking: Sensex traded volatile in both territories to finally end in red. It made intraday high of 20,959 and days low of 20,662. Volume was a bit dull at Rs 7033crs. The breath was in favor of Advances, where Advances stood at 1551 and Declines at 1304. Sensex resistance stands at 21,000 and support lies at 20500 - 20200 on daily charts.
Sensex was down by 99 points at 20728.05.Weighing on the Sensex were losses in Bharti Tele (907.3,-6 percent), Wipro (461.4,-5 percent), Maruti (854.95,-5 percent), Infosys (1530.2,-3 percent) and TCS (960.8,-3 percent). Losses were restricted by gains in Hero Honda (704.15,+7 percent), NTPC (284.95,+5 percent), RIL (3216.3,+3 percent), BHEL (2473.95,+2 percent) and RCVL (805.15,+1 percent).
Sayaji Hotels is mainly in the hotel and restaurant business. The hotels of the company are located in Indore and Baroda. The restaurant business of the company is managed by a 100% subsidiary 'Sanchi Hotels Pvt Ltd' which was formed in October 2006. The restaurants of the company are operational under the brand name of 'Barbeque-Nation' and come in the category of high end restaurants. Restaurant business seems to be the next revenue driver for the company. Sayaji is now in the transition phase. Sayaji can be considered as an investment option with 2-3 year time frame the back of favorable macro scenario. Do read our note on the company to know why. Sayaji closed higher by 6% for the day.
Balkrishna Industries is into manufacturing of Agri and OTR tyres. 80% of the tyre revenues are from exports. Majority of the exports are to Eastern Europe with 60% to the Agriculture sector. The company's performance was good especially in the headwinds of higher raw material prices. It is in the process of expansion and that is because the demand supply remains in favour of the company. There are not much global capacities coming on and the demand scenario is quite robust. The company is extremely confident of having price hikes and maintaining its margins. The stock has performed since our coverage. Do read our research note to know more.
Technically Speaking: Sensex traded volatile in both territories to finally end in red. It made intraday high of 20,959 and days low of 20,662. Volume was a bit dull at Rs 7033crs. The breath was in favor of Advances, where Advances stood at 1551 and Declines at 1304. Sensex resistance stands at 21,000 and support lies at 20500 - 20200 on daily charts.
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