IT Sector expected to post solid Q1 earnings - MC

De-risk yourself by being in the IT sector
Brokerage firms are expecting Infosys' overseas revenues to grow by 38%, Wipro's global revenues to ramp up by 45% and Satyam's overseas revenues to grow by 31.7% in the first quarter of FY07.We never had Infosys and Wipro trading at lesser valuations, so typically whenever the fresh FIIs came in they had to buy these stocks at those valuations and these stocks became richer in valuations. Infosys and Wipro are suitable for fresh investors.
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Hot stocks for next week: Experts
Deven Choksey, KR Choksey Sec: Reliance, Infosys, Glenmark, look good in a falling market.
Rahul Mohindar, Viratechindia.com: Reliance, Infosys will be the key stocks to give market direction.
Sumeet Rohra, Antique Stock Broking: Watch out for ONGC, Infosys, TCS and Reliance.
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QoQ margins will stay flat for most of the companies and the profits of banks may decline due to the Held To Maturity, HTM, transfers.
Among the non-ferrous stocks, he says that they are expecting strong numbers from Hindalco, while he feels that Tata Steel and SAIL may post strong sequential numbers.
He adds that oil marketing companies may see a strong net profit growth and he expects strong numbers from the auto and infrastructure sector.
For textiles, actually expecting a decline in the PAT and your report mentions that it is primarily because of Arvind Mills.
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Stocks trading at a discount to their book value
Market price of 37 stocks from the BSE 500 companies are trading at a discount to their book value. While Chennai Petroleum’s stock price on June 12 was equal to its book value, the next 110 companies were available at a price to book value of between 1-2.
While as many as 80 companies are available between a P/BV of 2-3, 66 companies were trading at a P/BV of 3-4, and 52 companies were available at a P/BV of 4-5.
The 30-stock benchmark, BSE Sensex, on the other hand, is available at a much higher P/BV of 4.05 and 12-month PE multiple of 17.16 as on June 12.
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