OUR BTST- BALRAMPUR CHINI
FII Gross purchases Rs 3446 Cr, Gross sales Rs 5896 Cr, Net Sellers Rs 2449 Cr.
MF Gross Purchases Rs 895 Cr, Gross Sales Rs 514 Cr, Net Buyerss Rs 381 Cr.
OUR PICKS - RELCAP,PENINSULA LAND,ANUH PHARMA,DCB
SELL N SELL IFCI TILL 75-80 LEVELS ON OPENING
Today, Nifty has support at 5,672 and resistance at 5,847 and BSE Sensex has support at 18,872 and resistance at 19,384.
The market may edge higher amid steady-to-firm Asian markets. However, a major upmove is likely as traders are unlikely to build large positions ahead of a long weekend. The market remains closed on Friday, 21 December 2007 on account of Bakri Id and also on Tuesday, 25 December 2007 on account of Christmas.Traders are likely to start building positions towards the end of the month based on expectations of Q3 December 2007 results due next month.
As per provisional data, FIIs were net sellers of shares to the tune of Rs 1454.06 crore on Wednesday, 19 December 2007. Domestic funds bought shares worth a net Rs 350.60 crore on that day.
Stocks in News:
IFCI stake sale has been called off due to differences with Sterlite-Morgan Stanley consortium over management control.
Kingfisher and Deccan board approves merger.
Glenmark receives domestic patent for its asthma molecule, Oglemilast.
BHEL’s bid to build Rs84bn electricity-generation factory gets rejected.
Reliance Industries (RIL) is in talks with Tata Chemicals to sell KG basin gas.
Tata Power eyes shipping and logistics business and plans to raise Rs40bn from domestic and international market.
SAIL signs a pact with Rail Vikas for transportation of 5 lakh tons of imported coking coal per year.
Vale, world’s largest iron ore pellets manufacturer, is in talks with Tata Steel to set up a steel slab plant in Brazil.
Reliance Retail to enter food trading business as a part of major re-structuring of its food and grocery initiative.
Dabur India is planning acquisitions of an FMCG company in foods or personal care segment.
Hero Honda forays into used two-wheeler trading business under the ‘Hero Honda SURE!’ brand.
Union Bank is planning to enter mutual fund business and venture capital business.
Welspun India buys 76% stake in Portugal-based company for Rs600mn.
MRF plans to spend Rs5bn towards setting up a greenfield two-wheeler and four-wheeler tyre facility in TN.
Rolta India plans to enter real estate business through a group company, Rolta Infrastructure.
JK Tyres to hike tyre prices in next quarter.
EMCO promoters keen to raise stake in the company to 51%.
The telecom spectrum panel recommends the government to consider new allocation options, including auction.
Allahabad High Court asks UP Government to rework the cane state advisory price SAP) fixed by it for purchase of sugarcane.
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
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