Cues from advance tax payments

Marketmen will take cue from the advance tax announcements most companies had made on December 15. According to media reports, Sensex heavyweights such as Reliance Industries, State Bank of India, Tata Motors and M&M have paid lower tax compared with the previous year's figure. Others such as Piramal Healthcare, UltraTech Cement, Grasim and Larsen & Toubro have also paid lower. Indian Oil and BPCL did not pay any tax. These stocks will see little buying interest. On the other hand, companies such as Ambuja Cements, ACC and Hindustan Zinc have paid higher taxes. These stock will remain firm, if overall market conditions show some improvement.