"On the earnings front, consensus estimates show that the aggregate earnings growth for the Sensex companies is likely to be limited to high single digits in Q1 FY-2012 in spite of the expectations of a strong 20 pc plus growth in the aggregate revenues during the same period", says Shaji Nair , Senior Manager, Equity Sales at Sharekhan Lt.
Most analysts believe that stock markets may witness high volatility this week amid strong quarterly results expected from IT bellwethers TCS and Infosys.
U.S. stocks fell on Friday as a weak jobs report faded optimism that the US economy was recovering and hoping earning season would revive an appetite for investors.
The Dow Jones industrial average slipped 62.29 points, or 0.49 percent, to 12,657.20 at the close. The Standard & Poor's 500 Index shed 9.42 points, or 0.70 percent, to 1,343.80. The Nasdaq Composite Index dropped 12.85 points, or 0.45 percent, to 2,859.81.
In early trade Hong Kong was trading 0.8 pc lower, Tokyo slipped 0.40 pc, Seoul was trading 1.05 pc lower and Shanghai was down 0.1 pc.
At 08:00 AM, Nifty India stock futures in Singapore were down 14 points at 5650, indicating a weak opening in the domestic market.
Important earning results to watch out today include Essar Oil , Sintex Industries and Essar India Ltd.
indian Stocks to watch monday july 11 2011 :
PTC India after the leading power trading solutions provider sais is mulling floating two private equity funds as part of efforts to strengthen its financing capabilities.
BHEL after government approved 5 pc stake sale in the company via FPO. The ministry approved stock split in ratio of 1:2 ahead of divestment.
Reliance Power and Lanco will be in focus as first national auction for auction power plant ends today and both these companies have to submit bids by the end of the day. Also Reliance Power halts work on Krishnapatnam UMPP, mega power project citing higher costing of coal. Cash flows for the company are likely to be impacted by Indonesia's minimum price rule.
Hindal and Essar Power will be in focus after the environment minister denied clearance to the Mahan coal block which was suppose to power the thermal power plant of both these companies.
DB Realty after enforcement directorate has slapped Rs 7100 cr fine on Etisilat with regards to FEMA in connection to 2G scam case.
Idea cellular after one of the private equity holders which is providence fund is looking to exit from their 10 pc stake in the company. The current stake of the private equity player is valued at Rs 2700 cr.
Core Projects and Supreme Industries after Core Projects is looking to buy out Supreme Industries Andheri property in a deal valued ar Rs 350 cr.
GMR Infra and GVK after finance ministry decided to impose service tax on the development fees collected before the development fees was banned in both Bombay and Delhi airports.
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