Saturday, October 08, 2005

Infosys Technologies to Announce Second Quarter Results on October 11, 2005

Infosys Technologies to Announce Second Quarter Results on October 11, 2005
Infosys Technologies Limited, a world
leader in consulting and information technology services, will
announce results for its Second Quarter ended September 30, 2005 on
Tuesday, October 11, 2005, IST. The results will also
be available on the Infosys web-site,
   Following the release, Infosys CEO, President and Managing
Director, Mr. Nandan M. Nilekani; COO and Deputy Managing Director,
Mr. S Gopalakrishnan; CFO and Member of the Board, Mr. T. V. Mohandas
Pai, and other members of senior management will comment on the
company's performance. This will be telecast by CNBC-TV 18 to its
viewers as a part of its "Boardroom" series, direct from Bangalore, at
10:30 a.m. IST on October 11, 2005. An archive of this event can be accessed at after 2.00 p.m. IST on October 11, 2005.

Fears of slowdown in FII inflow, weak global markets infect Sensex

Fears of a slowdown in FII inflow and weakness in global markets pulled the Sensex sharply off the higher level last week.
For the week ended 7 October 2005, the Sensex plunged 142.92 points or 1.6% to settle at 8,491.56. The S&P CNX Nifty lost 27.35 points or 1.05% to 2,574.05.
The market held firm in the first two trading sessions of the week, on Monday and Tuesday, before losing ground substantially in the next three trading sessions.
The Sensex jumped 63 points on Monday and spurted 102 points on Tuesday, boosted by strong GDP growth data for Q1 June 2005, expectations of strong Q2 results and reports suggesting that monsoon rains were good this year. The Sensex crossed the 8,800-mark for the first time in its history on Tuesday (4 October 2005).
On Wednesday, the barometer index lost 75 points, and on Thursday it plunged 196 points. It lost 37 points on Friday.
Reinforcing market concern about more US interest rate increases, a top Fed official said on Wednesday that the central bank must be specially wary of inflation, bolstering recent remarks that suggested Fed officials should keep raising rates. Fears of more rate hikes in the US sent global markets reeling.
Rising US interest rates and a weakening rupee have sparked fears that the flow of funds into India may begin to ease. The rupee struck a fresh 10-month low last week. Strong FII inflows have been the driver of the market’s solid surge over the past few months. The cumulative FII inflow in calendar 2005 has reached $ 8.65 billion (till 4 October 2005), as compared to an inflow of $ 8.51 billion in whole of calendar 2004.
Strong September sales boosted auto stocks earlier during the week. However, they cooled off later, in a weak market.
Weakness in the rupee and expectations of strong Q2 results boosted IT pivotals. Infosys kicks off the earnings reporting season on 11 October 2005.
ICICI Bank witnessed a sell-off after the private sector bank said on Wednesday its board will consider further issue of equity capital.
A sharp fall in global crude oil prices triggered renewed buying in shares of oil-refining-cum marketing firms such as BPCL, HPCL and Indian Oil Corporation.
Expectations of a hike in cement prices boosted cement scrips. As per market talks, a hike in cement prices post monsoon is on the cards.
Index heavyweight Reliance Industries (RIL) slipped on profit taking. Market men expect RIL to report strong Q2 September 2005 results.
Welspun Gujarat Stahl Rohren spurted after the company announced on Monday it had bagged a major export order worth Rs 500 crore.
Jet Airways spurted on Friday after the company said it has raised domestic fares on all its routes within India effective October 14, 2005 by 10%.

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