Sharekhan ValueLine for May 2006

Strong earnings but watch for unpredictables
Last month began with the announcement of India Inc’s fourth quarter results led by Infosys Technologies. The software giant reported a 21% growth in its Q4FY2006 net profit and offered a guidance of 28% net profit growth for the current fiscal. That set the mood for the results season and sent the market soaring by over 300 points, the biggest single-day gain since October 31, 2005. As many as 731 companies have announced their results since and most have beaten market expectations: their aggregate net profit and sales are up 25% and 20% respectively.
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