ESCORTS (RR FINANCIAL)

OUTLOOK

• The key benchmark indices may remain volatile as investors may refrain from taking large positions ahead of extended holiday. Market will remain closed on Monday, 19 October 2009 on account of Diwali. Asian markets were trading mixed.

• Investors will keenly watch Q2 result from India's largest software services exporter TCS today, 16 October 2009. A total of ten brokerages expect a between 6.8% fall to a 4.9% growth in TCS' consolidated net profit as per US accounting standards at between Rs 1416.30 crore to Rs 1595.40 crore in Q2 September 2009 over Q1 June 2009. Their expectations peg a between 0.4% to 3.8% growth in revenue at between Rs 7237.70 crore to Rs 7478.40 crore in Q2 September 2009 over Q1 June 2009.

• Meanwhile, Inflation based on the wholesale price index (WPI) rose 0.92% in 12 months to 3 October 2009, slightly above previous week's annual rise of 0.7%, data released by the government on Thursday showed. Within the WPI, the food articles index rose 13.34%. The government revised upwards inflation for the year through 8 August 2009 to a much smaller decline of 0.37% from an estimated fall of 1.53%.

• The IPO of Indiabulls Power was subscribed 21.84 times. Indiabulls Power, a unit of Mumbai-based developer Indiabulls Real Estate, is developing five thermal power plants in western and central India, with total capacity of 6,600 megawatts, and will use the issue proceeds to fund two projects. The issue closed on Thursday, 15 October 2009.

• Asian stocks were trading mixed today as a decline among financial shares was offset by a weakening yen that boosted the outlook for Japan's exporters.

• US markets closed with marginal gains after a topsy- turvy session on Thursday on positive economic news and better than estimated earnings from Goldman Sachs and Citigroup.

• As per provisional data, foreign funds on Thursday, 15 October 2009, bought equities worth a net Rs 752.48 crore. Domestic funds dumped stocks worth a net Rs 443.08 crore

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