Monday, February 28, 2011

Coal India and ITC rock among the biggies

Coal India and ITC saw spectacular gains today among the biggies. Coal India saw the rise due to its decision of hiking the coal prices by 30-45% for all its non-regulated customers w.e.f 26 Feb 11. ITC is under no pressure to hike cigarette prices in near term. The state budgets coming up would be watched.

It is another story that Infosys was accused by an American employee of breaking immigration laws. This would add "fuel to the fire" in local jargon to the anti-outsourcing sentiment. It didnt see any negative impact on the prices though. Maybe the move towards local investment and into "product" related sectors or an anticipated acquisition is in the mind of most people. Though the "acquisition" doesn't seem what Infy will do with the current oldies on the board.

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