CLSA maintains 'underperform' on Infosys Technologies, HCL Tech, Tech Mahindra and Wipro

	Dated:05 November,2012

Top Headlines Sensex edges higher; gains for 4th day as defensives lead

ITC and drug makers rose amidst global risk aversion ahead of U.S. elections and a key parliamentary vote in Greece.

CLSA cautious on IT sector; downgrades TCS to 'Sell'

CLSA maintains 'underperform' on Infosys Technologies, HCL Tech, Tech Mahindra and Wipro while downgrading TCS to 'sell'.

Hot stock: Brokerages see over 70% upside in IRB Infrastructure

IRB saw a 10% jump in Q2 net profit to Rs 121 cr, beating analysts' estimates. Its total income rose 15% YoY to Rs 878 cr in Sept quarter.


Views on Stocks/Markets

• Sell Jaiprakash Associates: Mitesh Thacker

• Buy Zee Entertainment: Ashwani Gujral

• Sell Balrampur Chini Mills: Sandeep Wagle

IPO/Global Markets European shares edge lower

• Asian markets mostly down

• Global shares fall

Rupee / Gold

• Rupee hits 1-1/2 month lows

• Gold gains Rs 130 to Rs 31,080

• Gold importers stock up

More 'Market' News

• Need another round of reforms for FII interest to continue: Ambit Capital

"We need another burst of reforms to give encouragement and hope to those who believe in Indian equities."

• Tech Mahindra profit rises 23 pct at Rs 296 crore, beats estimates

The company took at hit of Rs 60 crore on account to forex loss during the quarter as compared to forex loss of Rs 37.6 crore last quarter.

• Investors should remain 100% invested in equities: David Pezarkar, Daiwa AMC

It would make sense to look at stocks where the earnings upcycle might be driven by economic upcycles, says David Pezarkar.

Market Round-up SENSEX 18755.45 193.75 NIFTY 5704.20 6.50 NASDAQ 2141.54 17.78 DJIA 10060.06 19.61 RS/$ 46.79 -0.14 NSE Gainers Scrip Price(Rs.) %Change Kwality Dairy (India) Ltd 36.95 + 19.58 HB Stockholdings Ltd. 13.90 + 18.80 Cinemax India Ltd. 117.75 + 17.99 Elgi Rubber Company Ltd. 28.75 + 15.93 Nectar Lifesciences Ltd 21.55 + 13.72 NSE Losers Scrip Price(Rs.) %Change Nucent Estates Ltd. 3.45 -28.12 Vadilal Industries Ltd. 194.95 -17.55 Simplex Castings Ltd. 54.40 -12.96 Parabolic Drugs Ltd. 21.10 -12.63 Zylog Systems Ltd. 108.60 -9.99