OUTLOOK
Today global markets are in negative terrain and our markets may see dull opening for the day.
The weakness in the rupee has helped the markets yesterday, but the outlook will depend on the news flow from the global markets such as the FOMC meeting and the Greece deadline.
The market will watch out for cues from a two-day meeting of the U.S. Federal Reserve that ends on today will also have bearing on teh sentiments in coming days.
The next big catalyst culd come from positive policy action or some softening of inflatrion. Corpoarte earnings next month will also be a key to near term direction for the markets.
We continue to remain cautious on markets.
We continue to remain cautious on markets.
Our value Pick Zylog Systems initiated at 418 for a target of 519. The stock was moving yesterday mainly on weakness of rupee which is beneficial for the IT stocks and which offsets the concernss of lower revenue beacuse of worries in global markets. Zylogs majority of the revenue comes from global sales which is mainly in dollar terms. The company is also among top 500 tehcnology innovators across America.
Promoters have also incresaed thier holding in August which shows business confidence in the company. We have a positive outlook for the company.
Promoters have also incresaed thier holding in August which shows business confidence in the company. We have a positive outlook for the company.
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