Castrol India FY10 net profit up 29% yoy

The net profit of the company rose by 31.06% to Rs105.90 crore for the quarter ended December 31, 2010 as compared to Rs80.80 crore for the quarter ended December 31, 2009.Total income increased by 14.83% to Rs706.80 crore for the quarter ended December 31, 2010 from Rs615.50 crore for the quarter ended December 31, 2009

Stocks To Watch Today

Chambal Fertilizers & Chemicals Ltd,
Cmp:73.50,
Action:Buy,
Target:79.
Jaiprakash Associates Ltd,
Cmp:85.65,
Action:Buy,
Target:95.
Greaves Cotton Ltd,
Cmp:89.00,
Action:Buy,Hold,
Target:100.
Shree Ashtavinayak Cine Visions Ltd,
Cmp:6.90,
Action:Buy,
Target:25.

What experts says about banking sector?

 J V Capital Services,

You have got to look at banking again. There are a lot of headwinds. There are a lot of worries on inflation, higher interest rates, effect on their margins but the sector as a whole, valuation wise, is pretty reasonable. Some of the private sector banks are obviously trading at a higher premium to the PSU banks but with all these scams, it is very unlikely you are going to get some significant kind, hopefully you are not going to get any further significant scam in the banking space. That way, it is relatively insulated from that viewpoint.So this is one sector, which might be rocky over the next 3-6 months but on any significant correction, you go and you buy. You have seen the State Bank at 2500-2600 levels, it has given you a 10% upside pretty fast. So you can obviously take some profits out. So that’s one sector on which we remained quite bullish on and we feel over the next one year, there will be decent returns.

What experts says?

 ASHWANI GUJRAL,chief Market Strategist,Ashwani Gujral.Com,

Auto stocks best bought before budget,Till the budget, the sector will remain under pressure. But what we have seen in previous budgets is that if the worst does not happen, these stocks tend to have pretty sharp rallies. So the downside will get captured before the budget and probably at those levels, longer term investors can get in. From there they might be able to get at least a trading rally if nothing else. So these stocks are best bought before the budget, one day before or say the same day before its announced.

Why Markets Down Today?

Turmoil in Middle East and North Africa rattled the indices across the globe and also led to spike in commodities. Owing to such tensions, the Indian markets remained under pressure and closed the volatile session on a weak note. Investor sentiments were impacted looking at the global fall, leading to heavy selling with the Nifty closing below the 5500 mark. Crude oil prices rising 9% to above $94 a barrel on the New York Mercantile Exchange was also a major concern. However, index heavyweight Reliance Industries, which surged after signing a $7.2 billion deal with BP, provided much needed to the markets.The Sensex closed at 18296, down by 142 points and the Nifty stood at 5469, lower by 49 points.