What to do? - IIFL

It's been a volatile week thus far and the indices appear undecided about the immediate course. A lot of measures have been announced and taken but markets want to see some quick results too. T Moody's has warned that a deteriorating rupee scenario could lead to a rating downgrade for the country. Moody's changed its outlook for the US economy from negative to stable.

The outlook is a weak start. Focus will be on stocks like TCS and RIL. TCS' net profit rose to Rs 3,831 crore from Rs 3,318 crore in the same quarter a year ago. The IT major's revenues rose 21% to Rs 17,987 crore (Rs 14,869 crore). Expect buying interest on the counter. RIL will be in focus too and is expected to record a net profit growth of 13-15% for the quarter.

RBI Governor D Subbarao has said the currency's exchange rate will largely be market-determined but central bank would intervene to prevent disruptions to macro-economic stability.

Source : Equity Bulls

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