Tata Steel gains on better-than-expected EBITDA
Shares in Tata Steel (TISC.NS) recover from early losses to gain as much as 2.6 percent, despite reporting April-June net profit that missed estimates, as operating profit came in above expectations.
Brokerage Kotak said Tata Steel's consolidated EBITDA of 34 billion rupees was 10 percent ahead of its estimates.
"The stock may not perform in the near term due to the economic slowdown and fears of steel dumping from China but valuations are attractive," it said in a note in the morning.
Major Results Today:-
Jain Irri,Khaitan Inds,Opto Circuit,Orchid Chem,Relinfra,Rpower,Supreme infra,Tamil Nadu News,UnitechWelcorp, Abg Ship,Amtek Auto,Bajaj Hind,Dhampur Sugar,Essar Oil,Gammon India,Geodesic,Genus Power,HDIL,Hindalco,Hind Copp,IDFC.
Nifty : To trade on long side today 14 August
The Nifty traded in a narrow 20 point range for most of the day. In the last 45 minutes of trading it broke out on the up side. It was a coil getting wound and then going loose. The similar coil is being wound on the daily time frame as well and it could go loose in the coming days, more likely on the upside than down, which is why the analyst says he has taken long positions on the Bank Nifty.
Bank Nifty Trading Levels:
Pivot - 10367, S1-10319, S2-10235, S3-10187, R1-10450, R2-10498, R3-10580
You can fill the form here on the blog to get free tips on your mobile for this week 13 August – 17 August 2012 and for Tomorrow too 16 August 2012..... Have a Happy Trade!!! :)
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