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IT stocks dip. Markets weak.

Markets had a bad start on negative global sentiment and weaker-than-expected TCS and HCL quarterly numbers.
TCS and HCL Tech fell 7% each post their quarterly numbers. Metal, telecom, technology and financial stocks were on sellers’ radar. Heavyweight Reliance Industries too down more than 1% after falling 4% yesterday.Tata Consultancy Services reported a lower-than-expected 15% year-on-year rise in second quarter net profit at Rs 2,439 crore.
HCL Tech reported a fall of 2.5% QoQ in consolidated net profit of Rs 497 crore for the quarter ended September 2011.

Tata Motors, Wipro, Infosys, Hindalco, Tata Steel, Sterlite, Sesa Goa, JSPL, DLF, ICICI Bank, IDFC, SBI and L&T were pulling the markets down.
IFCI plunged 3% post fall in second quarter profits.

MindTree jumped 4% post good numbers in Q2. ING Vysya Bank rose 2.5% post September quarter results.

Petronet LNG was up 1% ahead of results today.


 

 

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