The BSE Sensex extended gains on Thursday, while the Nifty rose to a 2-1/2 year high, as lenders continued their rally on expectations of early rate cuts by the RBI. Indian shares have gained just over 4% so far this month as foreigners have been net buyers for 20 consecutive sessions, bringing in a net of $12.98 billion. Market analyst Sarvendra Srivastava says the Nifty is approaching target range of 6,250-6,300 and the Bank Nifty is on course to hit 13,500-13,600.
Cairn India: Barclays retains overweight with a target of Rs 430. Cairn India has inexpensive valuations and low expectations, the brokerage said.
JM Financial: Former Citigroup CEO to invest in JM Financial via warrants. Pandit will invest in JM Financial NBFC, proposed bank.
Bata India will go ex-dividend at Rs 6 per share from today.
ITC: Q4 earnings announcement today. Sales seen rising 15.7 per cent to Rs 8,052 crore, while net is seen rising 17 per cent to Rs 1,901 crore.
United Spirits: IDFC maintains outperform saying USL will see significant shift towards premiumization. It stands to be biggest name in Indian consumer space, the brokerage added.
Mahindra Satyam reported weak Q4 on Thursday. Sales were flat (quarter-on-quarter) at Rs 1,935 crore, but net profit dipped 14 per cent quarter-on-quarter to Rs 320 crore. Margins dipped to 20.1 per cent against 21.6 per cent in the December quarter.
Gujarat Pipavav Port: Nomura initiates coverage with a buy and target price of Rs 57 saying the company is an inexpensive play on India's attractive port story.
Sun TV: Q4 sales are seen rising 11 per cent to Rs 474 crore, while net is estimated to rise 15 per cent to Rs 184 crore.
Glaxo, Sun Pharma, Dr Reddy's, Lupin, Glenmark will be in focus as the Drug Pricing Order, 2013 has been notified. The order comes into force from May 2013.
GMR to File Technical Bid for Philippines Airport.
