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India VIX ahead of election outcome
Tuesday will see the introduction of a new series of India VIX futures, which will expire on May 20. As the Lok Sabha election results would be out on May 16, volatility is set to increase. Traders would be keen to capitalise on the wild swings. Already, far week contracts are quoting at high premiums. May 6 and May 13 futures are ruling at 3,345 and 3,445, against April 29 futures value of 3,160. However, trading volumes in India VIX futures remain weak.
Will results help break Bharti Airtel’s range?
Bharti Airtel closed 0.9 per cent lower on Monday ahead of its FY14 results announcement on Tuesday. The company will also consider announcing a dividend. After moving in a sideways range of ₹265 and ₹375 since November 2012, it is now rising from the lower band of the range. If the results beat market expectations, the stock could test ₹375. However, the trend will become apparent only on a breakout on either side of ₹265-375.
All eyes on IFCI’s financial performance
Shares of IFCI will be on traders’ radars as the company announces its quarterly and annual results for 2013-14 on Tuesday. IFCI, in which foreign institutional investors have been raising stakes steadily for the past three quarters, could not bag a licence from the RBI to start banking operations. The financial major posted a net profit of ₹142.39 crore in Q3 of the previous fiscal on revenues of ₹790.64 crore. For FY2012-13 it reported a net profit of ₹450.8 crore.
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