HUL quarterly numbers seen below expectations
Consumer goods major HUL seems to have a new obsession, that of holding its board meeting and announcing its quarterly results on public holidays. The company has issued a communication to stock exchanges that its board meeting will be held on January 26 to consider the unaudited financial accounts for the quarter ended December 2009, along with the limited review report of the auditors for the corresponding period.
The last quarterly results were also announced on a Sunday. Market watchers are amused by this move considering that multinationals as a rule begin their weekends on Friday evening every week. This has also led to some speculation that the company’s quarterly numbers may be below market expectations.
Old Fox & gang looking for quick returns lap up Dish TV
DISH TV shares were among the notable gainers in Friday’s lacklustre session, rising nearly 7% to close at Rs 50.35. On BSE, around 90 lakh shares, thrice the two-week daily average volume in the stock, were traded on BSE, with 42% of it resulting in delivery. Dealers tracking the counter say Old Fox and gang were big buyers at the counter on Friday.
It is not clear if the Fox is in it for the long haul or is merely looking for some quick returns. While the company continues to post losses at the net level, it has shown a good growth in revenues for the half year ended September. Also, it appears that the company may end the current financial year with much lower losses compared with last year.
Contrarian play seen at bank counters ahead credit policy
WITH the indecisive movements in benchmark indices giving little opportunities to trade, smart traders are using their skills to make money in sectoral plays. They have sold stock futures of banks and capital goods, while bought that of oil and information technology. But some bravehearts within the trader community have suddenly reversed their short positions in banks, two weeks before RBI’s monetary and credit policy review.
They are going against the crowd on judgement that the undertone has been too pessimistic about the outcome of the policy review. It is widely expected that the central bank may hike cash reserve ratio, but a slight dip in bond yields this week, even as inflation rate showed a jump, has these traders go contrarian. Derivative market participants said some of these traders have created long positions in futures and options contracts in banks.
Contributed by Kala Vijayraghavan, Santosh Nair & Nishanth Vasudevan
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Src: ET, DP Blog , Businessline and etc
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