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Delivery CAll - AMARARAJA +ve above 230 Tgt 250+.
Keep eyes on Shiv vani, Bombay dying, Bhel
Bernake fails to enthuse markets ; Are the Bears ready to hit targets??
On the downside we find a immediate support at 5115 followed by 5025. If we happen to break this there is a possiblity of showing 4860 on Nifty.
On the upside the way is clear upto 5270 where Nifty find first resistance break of which can take to 5355... break and stay above this Nifty gives first sign of bullishness again and can even test 5500 and 5650
Bernake today met the expectations of the wall street by deciding to cut the US interest rates by 50 basis points. With in a fornight the Fed has reacted swiftly by cutting the rates by 125 basis points to avert the recession danger.
US Markets reacted sharply on the news and at one point of time wall street jumped 160 points only to close down 39 points by the end of trade at 12,442.83 while Nasdaq closed down 9.06 points to 2,349.00.
We believe it makes absolutely no sense for the markets to go down from here. On the other side Indian markets are crushed by huge FII selling yesterday.FII's have built in huge short positions in F&O taking advantage of subdued news flow.
How will the 50 basis point augur for Indian markets??
The news is indeed a big boon for emerging markets resulting in huge capital inflows. Though it is tough to decide on the market movement today due to the F&O expiry, we believe emerging markets should turn around now.
F&O has played havoc this month. Very few stocks battled the fall yesterday and they include Geodesic Info, SEL Manufacturing, HT Media, Sun Pharma, Bihar Tubes etc.
Government today relaxed FDI norms in cargo and charter airlines, helicopter services, credit information companies, titanium mining, industrial parks and construction development projects.
Volatility might be part of the trade today and we need to wait how Asian markets open.
GNFC, DLF, Southern Online, GBN, FACOR Alloys, Tata Tea and many more stocks hit the headlines today
GNFC net profit doubled to Rs 124 crore
DLF Limited, Emaar MGF and Unitech along with 10 companies are in the fray to grab the development of Railway land
Southern Online Bio Technologies has received a huge order for three lakh litres of bio-diesel a month from Road Transport Coporation of Andhra Pradesh(APSRTC)
Ferro Alloys Corporation Ltd (FACOR) has lined up Rs 2,750 crore capex for setting up a stainless steel plant and a power facility.
Global Broadcast News Ltd is expected to raise Rs800 crore to launch regional channels
Tata Tea plans to expand Chai Unchai outlets abroad
Bharti Airtel Ltd is likely to further divest stake in Bharti Infratel, the group’s tower company.
Arvind Mills plans to set up 35 large-format discount stores in the next four years
Pick No 1 - Buy Tata Metalik (bse code 513434) - Trading at 170.20 in BSE having good supports, ideal stop loss below 165 and buy at current level, momentum will be seen once stock crosses 173. Final Target and Final stop loss only to clients and will be informed by SMS
Pick No 3 - Buy Subhash Project (BSE Code 500402) - Intraday cum short term buy call of Subhash Project, we expect a good result CMP 442. Can buy at current levels for good gains. Final Target and Final stop loss only to clients and will be informed by SMS
News Snippets:
Tatas may have to pay more for Jaguar and Land Rover due to better sales performance in 2007.
Godrej Appliances plans new products for high-end customers.
Reliance Retail opens its second hypermarket store ‘Reliance Mart’ in Jamnagar.
Bharti Airtel gets extra 2G spectrum in 5 circles of Gujarat, UP (West), Assam, WB and Haryana.
TRAI wants BIS to set technical standards for advanced DTH services.
Variable pay cut by TCS is not a cause for concern, says Infosys’ HR Head.
ICICI Bank may have to wait for its entry into Singapore; SBI will be allowed first to open branches in Singapore.
Global Broadcast News (GBN) to raise Rs8bn, launch regional channels.
Tata Tea plans to take Chai Unchai retail outlets abroad.
Indian Oil is unable to sign long-term LNG supply contract with Algeria.
Coal India to consider IPO only after getting Navratna Status: Chairman.
Civil Aviation Ministry approves Air India’s plan for employee stock options.
Tamil Nadu Govt threatens to takeover lock-out MRF plant.
Wockhardt Hospitals cuts IPO price band to Rs225260 from Rs280310 due to volatile markets; the IPO opens on Jan. 31.
United Spirits plans to launch Whyte & Mackay brands in India; to double share in Scotch whisky market in 2 years to 24%.
Delhi High Court stays CLB order against Essel Group’s acquisition of news agency UNI.
Govt defers approval for the proposed Hero-Daimler joint venture for CVs.
Dubaibased Landmark Group, which operates the Lifestyle chain, plans to invest US$500mn in India by 2010.
Videocon group proposes new investments in WB, including a deep-sea port and revival of an abandoned airstrip.
L&T plans to launch AMC; finalises Travelers as JV partner for non-life insurance venture.
UK’s CDC to pump US$1bn in new emerging market infra fund to be run managed by Actis.
NTPC seeking location Nigeria to set up its 500mw coal based and 700mw gas based power plants.
JSW steel may acquire its own captive resource to feed upcoming expansion.
Godrej Group is planning to set up additional manufacturing facilities in Himachal Pradesh.
IOC and Essar Oil delayed crude pipeline at Vadinar in Gujarat is likely to shape soon.
Spice Communication has been accused by DOT of giving false statement.
TTK Prestige has forayed into modular kitchen business.
BPCL may acquire SPIC petrochemical asset.
DLF, Emaar MGF and Unitech among others bid for developing spare railway land.
Andhra Bank will soon start its operation in New Jersey.
Novartis Pharma to ramp up its operation in India by adding 700 employees in next 18 month.
Economy News
Govt hikes FDI limit in 7 sectors; FDI in nonscheduled airlines capped at 74%; foreign investment in commodity exchanges capped at 49%.
SEBI has ruled that investors in close-ended MFs should not bear initial issue expenses.
Government considering launching Sovereign Wealth Fund.
India’s forex reserves to swell by US$100bn in 2007-08: Chidambaram.
NCAER revises FY08 GDP growth forecast to 9.1% from earlier projection of 8.9%.
GoM meet on new pharma policy ends inconclusively.
Govt clears FDI proposals worth Rs22.88bn.
Weight of fuel group to increase in the revised WPI; current weight is 14.22%.
Govt targets US$10bn spice exports by 2018.
Andhra Pradesh may get another Ultra Mega Power Project.
Jawaharlal Nehru Port Trust faces capacity constraints.
Director general of hydrocarbons (DGH) has agreed drilling holidays on account of global rig shortage.
Indian Railway’s may announce Rs350bn capex plan in the upcoming budget
JGS Investments is a home of expert stockmarket analysts, and premier source for technical analysts research and information on Indian Stock Markets.Just join us at Yahoo Messenger sheth_jg@yahoo.com OR Email at sheth_jg@yahoo.com
Thursday, January 31, 2008
Wednesday, January 30, 2008
All eyes on Fed tomorrow
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
FOR OUR SUBSCRIBER'S ONLY
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In Focus: Zee News
While RBI disappointed Indian Stock markets die hard bulls will be cheering the Fed for a 50 basis point cut in the interst rates. This would signal a bull rally for the medium term. Wallstreet expects a 50 basis point cut and the bulls are ready for a rampage even if the Fed meets expectations. In case of a 25 basis point cut there will be disappoinment but we do not see a major slump in the indices. We believe Mr.Bernake will not leave any stone unturned and will make use of the situation to the fullest.
Banks, Realty and Auto stocks were hit yesterday after RBI announced the monetary policy. Realty sector is living dangerously and we are not positive on the sector this year except for few stocks. We believe next month's budget will have pain in store for the sector. Textiles along with IT and Pharma might get the necessary boost.
Q3 performance of Corporate India is inline with expectations and given the fundamentals Indian stock market should be trading in a band till the next quarter. But markets always tend to think otherwise. With budget in the anvil next month we should see more action in the next F&O series in many stocks. We expect today's markets to trade in a band with no major cues and curiously waiting for the tomrorow's global event.
Few midcaps are slowly showing signs of pull back after heavily battered in the recent fall. Speculators will be back today with absolutely no cues hitting the Indian market.
Ranbaxy,Telco, Suzlon and few other stocks hit the headlines today
Reports suggest Ranbaxy is in race for 53% stake in a Romanian pharma co. Lupin and
Dr.Reddy's are also said to be in race
Sources say Telco might get full control of Jaguar, Land Rover
Suzlon Energy's Q3 net doubles with the bulging order book
Sujana Metals plan Rs 1,400cr mega expansion.
Bartronics India has acquired the Assets of Proximities Inc. and SRG America Inc. based in the United States of America for a total consideration of US $ 50 million
News Snippets:
TCS cuts variable pay linked to company performance by 1.5% per employee.
Unitech plans to sell 10-50% stake in its telecom operation to a foreign company.
ONGC and RIL make fresh appeal to Petroleum Ministry for implementation of rig holiday.
Essar Oil has decided to consolidate its upstream E&P operations with itself.
LIC offloads 2% stake in VSNL for about Rs3.4bn.
IOC to enter into natural gas business.
RINL and SAIL sign MoU to acquire high-grade limestone block in Oman.
Dr Reddy’s eyes acquisition in specialty business and customs pharma services segment.
Usha Martin to spend Rs8.5bn on capacity expansion over the next 30 months.
CPCL to expand capacity of its Chennai refinery at a cost of Rs50bn.
Big Bazaar targets Rs80bn turnover by next financial year.
GHCL plans to acquire soda ash companies in US and China. It is also exploring expansion and greenfield projects in India.
Chettinad Cement announces 1:6 rights issue to raise up to Rs2.5bn to fund expansion plans.
Simplex Concrete Piles India gets Mumbai Metro’s Phase I civil works contract worth Rs4.5bn.
Simplex Infra plans to recruit people in Sri Lanka, Bangladesh and Philippines.
Siemens signs a MoU with Maharashtra Government to support company’s expansion plans.
VF Arvind Brands, a 60:40 JV between the US- based VF Corp. and Arvind Mills plans to unveil large format outlets this year.
Indoco Remedies to take 100% equity stake in Shree Herbal Technologies for Rs25mn.
Economy News
The GoM on aviation disapproves the proposal of allowing overseas flights without completion of five years of mandatory domestic service.
I&B Ministry has approached TRAI for recommendations on restructuring of FDI cap in all segments of the media sector.
TRAI is studying whether the current cap of 25 different tariff plans per service provider per circle should be further tightened.
The Government is examining a proposal of providing tax benefits to companies using clean technology and generating carbon credits.
FDI in industrial parks to get a waiver from 3-year lock-in and minimum capitalization conditions.
Steel demand to grow by 8-9% in 2008 as per Fitch Ratings.
Navi Mumbai airport to be ready by 2012.
Orissa signs three MoUs to set up new steel units.
FOR OUR SUBSCRIBER'S ONLY
TO KNOW MORE ADD ON MESSENGER OR MAIL - sheth_jg@yahoo.com
In Focus: Zee News
While RBI disappointed Indian Stock markets die hard bulls will be cheering the Fed for a 50 basis point cut in the interst rates. This would signal a bull rally for the medium term. Wallstreet expects a 50 basis point cut and the bulls are ready for a rampage even if the Fed meets expectations. In case of a 25 basis point cut there will be disappoinment but we do not see a major slump in the indices. We believe Mr.Bernake will not leave any stone unturned and will make use of the situation to the fullest.
Banks, Realty and Auto stocks were hit yesterday after RBI announced the monetary policy. Realty sector is living dangerously and we are not positive on the sector this year except for few stocks. We believe next month's budget will have pain in store for the sector. Textiles along with IT and Pharma might get the necessary boost.
Q3 performance of Corporate India is inline with expectations and given the fundamentals Indian stock market should be trading in a band till the next quarter. But markets always tend to think otherwise. With budget in the anvil next month we should see more action in the next F&O series in many stocks. We expect today's markets to trade in a band with no major cues and curiously waiting for the tomrorow's global event.
Few midcaps are slowly showing signs of pull back after heavily battered in the recent fall. Speculators will be back today with absolutely no cues hitting the Indian market.
Ranbaxy,Telco, Suzlon and few other stocks hit the headlines today
Reports suggest Ranbaxy is in race for 53% stake in a Romanian pharma co. Lupin and
Dr.Reddy's are also said to be in race
Sources say Telco might get full control of Jaguar, Land Rover
Suzlon Energy's Q3 net doubles with the bulging order book
Sujana Metals plan Rs 1,400cr mega expansion.
Bartronics India has acquired the Assets of Proximities Inc. and SRG America Inc. based in the United States of America for a total consideration of US $ 50 million
News Snippets:
TCS cuts variable pay linked to company performance by 1.5% per employee.
Unitech plans to sell 10-50% stake in its telecom operation to a foreign company.
ONGC and RIL make fresh appeal to Petroleum Ministry for implementation of rig holiday.
Essar Oil has decided to consolidate its upstream E&P operations with itself.
LIC offloads 2% stake in VSNL for about Rs3.4bn.
IOC to enter into natural gas business.
RINL and SAIL sign MoU to acquire high-grade limestone block in Oman.
Dr Reddy’s eyes acquisition in specialty business and customs pharma services segment.
Usha Martin to spend Rs8.5bn on capacity expansion over the next 30 months.
CPCL to expand capacity of its Chennai refinery at a cost of Rs50bn.
Big Bazaar targets Rs80bn turnover by next financial year.
GHCL plans to acquire soda ash companies in US and China. It is also exploring expansion and greenfield projects in India.
Chettinad Cement announces 1:6 rights issue to raise up to Rs2.5bn to fund expansion plans.
Simplex Concrete Piles India gets Mumbai Metro’s Phase I civil works contract worth Rs4.5bn.
Simplex Infra plans to recruit people in Sri Lanka, Bangladesh and Philippines.
Siemens signs a MoU with Maharashtra Government to support company’s expansion plans.
VF Arvind Brands, a 60:40 JV between the US- based VF Corp. and Arvind Mills plans to unveil large format outlets this year.
Indoco Remedies to take 100% equity stake in Shree Herbal Technologies for Rs25mn.
Economy News
The GoM on aviation disapproves the proposal of allowing overseas flights without completion of five years of mandatory domestic service.
I&B Ministry has approached TRAI for recommendations on restructuring of FDI cap in all segments of the media sector.
TRAI is studying whether the current cap of 25 different tariff plans per service provider per circle should be further tightened.
The Government is examining a proposal of providing tax benefits to companies using clean technology and generating carbon credits.
FDI in industrial parks to get a waiver from 3-year lock-in and minimum capitalization conditions.
Steel demand to grow by 8-9% in 2008 as per Fitch Ratings.
Navi Mumbai airport to be ready by 2012.
Orissa signs three MoUs to set up new steel units.
Tuesday, January 29, 2008
Banks Stocks are in limelight
Subscribe and get online paid calls for more add sheth_jg@yahoo.com
Market looks good in charts and it doesn't show any problem, by problem I mean correction.. I don't see any major correction.,But if no rate cut then surely Sisutaton changes below 5000 we can see
On the upside I see a resistance kept at 5330, 5415 and a major resistance at 5564 and 5650.
On the downside I see a support existing at 5207 and 5143 and 5040.. If by any mean we happen to go weak and break even 5040 then a panic situation will be created and could take us 4840.
I would expect and want the Nifty to stay above 5330 for the bullishness. Watch bank stocks and see opportunity if still available
We have BTST call of BANNKNIFTY,L&T,NIFTY you can also look after it.
US Markets recouped all the losses incurred on friday to close in positive, on expectations of 50 basis point Fed rate cut. RBI, on the other hand is in a Catch-22 situation. The Reserve Bank of India, under the leader ship of the governor Mr.Y.V.Reddy is scheduled to meet today to review the economy and monetary policy.
RBI in its Macroeconomic and Monetary Development review published yesterday hinted about the economic slowdown and expressed concerns about surging global crude prices. The odds of a 25 basis rate cut from the review can be pegged at 75-25 in favour of a rate cut.
Bank stocks are likely to attract attention and realty stocks might follow suit. L&T yesterday declared wonderful numbers thanks to surging order book. Jet Airways declared dismal numbers posting their first loss in the last five quarters.
Markets are likely to start on a positive note and end with good gains with the expectation of a rate cut. Short covering will add fuel to the fire if the RBI announces a 25 basis point cut.
Our second US Stock recommendation gained 5.05% today
Buy SBI - still looking a good buy at the level 2290 - 2300. Clients were told to buy at 2280, some booked profit in intraday and some carried for tomorrow trade. Final target and final stop loss only to clients. clients will be informed about the final target and stop loss through sms.
Buy Kotak Mahindra - Another bank pick of mine, looking good currently at 1086 a good buy at this level. Clients were told to buy at 1075, some booked profit in intraday and some carried for tomorrow trade. Final target and final stop loss only to clients. clients will be informed about the final target and stop loss through sms.
Buy Sail - Looks good for tomorrow. Currently trading at 216.65. Can buy at this level. Ideal stop loss would be 212. Final target and final stop loss only to clients. clients will be informed about the final target and stop loss through sms.
Gayatri Projects Ltd has set up a new holding company — Gayatri Infra Ventures Ltd (GIVL) by combining all its build-operate-transfer projects. The company is looking at diluting 50% equity in the new company. Discussions are ongoing with few Private Equity players to offload the stake at a good valuation. The stock closed at Rs 530 on Friday.
Dr Reddy's Laboratories Ltd posted an unexpected net loss for the December quarter as it wrote off $60 million of costs for its underperforming German unit (Beta Pharm)and saw revenues decline.The company hopes to perform better in the fiscal year beginning in April on improved sales of generics in India and Russia, and on a turnaround in its German business.
Growth in the next fiscal should be helped by the launch of a generic version of GlaxoSmithKline's Imitrex tablets in the United States in the December quarter. The company reported a consolidated net loss of 847 million rupees for its fiscal third quarter compared to a net profit of 1.88 billion a year ago.
Tata Group firm Voltas is looking at inorganic route to grow and plans to acquire new businesses in electro-mechanical and services space.The electro-mechanical projects and services business presently contributes around 55-60 per cent to the company’s total revenues.
News Snippets:
Government has asked SBI to go slow on the merger with all its subsidiaries.
NTPC is looking to spend over $1 billion on buying coal assets abroad
Reliance Energy, BEST and Tata Power have sought a hike of 10-15% in tariff rates.
JSW Steel is planning to spin off its overseas mining assets in a new company and list it on the London Stock Exchange.
Kotak Mahindra Bank is all set to acquire a controlling stake in Ahmedabad Commodity exchange.
Reliance Energy and Reliance Engineering Associates have put in bids for Mumbai’s monorail project worth Rs50bn.
ICICI and HDFC Bank have raised the two-wheelers down-payment to 30%.
Orissa likely to scrutinise permissions given to Reliance Retail for opening Reliance Fresh outlets in the state.
Phoenix Mills has upped its stake in Entertainment World Developers by picking up additional 8.3% stake for Rs1.5bn.
Indorama Thailand is acquiring close to 90% equity stake in Tuntex, a Thai manufacturer of polyester fibre and filament, for a sum of US$63.5mn.
HDFC is planning to list its mutual fund arm by the year end.
Rajesh Exports is likely to announce a buy back offer in the near term.
Wheels India and Sundaram Finance, both part of the TVS group, have formed a JV, Sundaram Hydraulics, to produce hydraulic cylinders.
Indo Tech Transformers will double its transformers manufacturing capacity to 7,450 MVA soon.
Lupin is talking to potential partners who may take its herbal and synthetic psoriasis molecules on to complete the cycle of drug development.
Coal Ministry is seeking tax breaks and concessional duty on import of equipment for Coal India.
Indian Hotels has raised tariff of budget hotels by 50%.
JSW Bengal Steel, a subsidiary of JSW Steel is plans to come out with a Rs35bn IPO next year to part finance its proposed 10mn ton steel plant in Salboni.
IOC and Tata Power plan to form a JV to set up a 1,000MW power project at Mirthapur in Orissa.
The merger of Neelachal Ispat Nigam with SAIL could be in trouble with MMTC, unwilling to sell its stake.
Tata Motors plans to launch high-end luxury buses of Spain’s Hispano Carrocera in the Indian market in the near future.
IVRCL plans to bid for airport development projects in small cities and towns.
Jet Airways aims to raise up to US$800mn, including a rights issue for half the amount which was approved in June FY07.
Nissan Copper is planning backward integration with an estimated capex of Rs8bn.
Board of KEI Industries has approved setting up a subsidiary for the power generation business and entering into tie-ups for power generation through biomass-based power plant.
General Electric has put GE Money on the block.
Economic Snippets:
Government is planning a compensation package for states to reduce sales tax on ATF from 15% to 10%.
An eGoM will consider relaxing the 5,000 hectare land ceiling for SEZs, early next month.
RBI will sell two-year government bonds to suck out Rs30bn from market of January 31
Public sector banks want the Government and the RBI to exert more pressure on the Fed for allowing acquisitions and branch expansion.
The government is proposing a hike of 1% in VAT rate.
Fertiliser plants will have the first right over domestic natural gas, followed by petrochemical and existing power units if the government approves a draft natural gas utilization policy.
Russia has lifted the ban on import of tea and coffee from India with immediate effect.
Power ministry plans to float tender inviting firms to manufacture equipment based on super-critical technology for meeting the target of 78,000MW power generation during the 11th plan.
Insurance firms plan to invest US$5bn in the stock market by FY08.
Rubber production in January 2008 may increase by 14% yoy to 110,000 tons.
Market looks good in charts and it doesn't show any problem, by problem I mean correction.. I don't see any major correction.,But if no rate cut then surely Sisutaton changes below 5000 we can see
On the upside I see a resistance kept at 5330, 5415 and a major resistance at 5564 and 5650.
On the downside I see a support existing at 5207 and 5143 and 5040.. If by any mean we happen to go weak and break even 5040 then a panic situation will be created and could take us 4840.
I would expect and want the Nifty to stay above 5330 for the bullishness. Watch bank stocks and see opportunity if still available
We have BTST call of BANNKNIFTY,L&T,NIFTY you can also look after it.
US Markets recouped all the losses incurred on friday to close in positive, on expectations of 50 basis point Fed rate cut. RBI, on the other hand is in a Catch-22 situation. The Reserve Bank of India, under the leader ship of the governor Mr.Y.V.Reddy is scheduled to meet today to review the economy and monetary policy.
RBI in its Macroeconomic and Monetary Development review published yesterday hinted about the economic slowdown and expressed concerns about surging global crude prices. The odds of a 25 basis rate cut from the review can be pegged at 75-25 in favour of a rate cut.
Bank stocks are likely to attract attention and realty stocks might follow suit. L&T yesterday declared wonderful numbers thanks to surging order book. Jet Airways declared dismal numbers posting their first loss in the last five quarters.
Markets are likely to start on a positive note and end with good gains with the expectation of a rate cut. Short covering will add fuel to the fire if the RBI announces a 25 basis point cut.
Our second US Stock recommendation gained 5.05% today
Buy SBI - still looking a good buy at the level 2290 - 2300. Clients were told to buy at 2280, some booked profit in intraday and some carried for tomorrow trade. Final target and final stop loss only to clients. clients will be informed about the final target and stop loss through sms.
Buy Kotak Mahindra - Another bank pick of mine, looking good currently at 1086 a good buy at this level. Clients were told to buy at 1075, some booked profit in intraday and some carried for tomorrow trade. Final target and final stop loss only to clients. clients will be informed about the final target and stop loss through sms.
Buy Sail - Looks good for tomorrow. Currently trading at 216.65. Can buy at this level. Ideal stop loss would be 212. Final target and final stop loss only to clients. clients will be informed about the final target and stop loss through sms.
Gayatri Projects Ltd has set up a new holding company — Gayatri Infra Ventures Ltd (GIVL) by combining all its build-operate-transfer projects. The company is looking at diluting 50% equity in the new company. Discussions are ongoing with few Private Equity players to offload the stake at a good valuation. The stock closed at Rs 530 on Friday.
Dr Reddy's Laboratories Ltd posted an unexpected net loss for the December quarter as it wrote off $60 million of costs for its underperforming German unit (Beta Pharm)and saw revenues decline.The company hopes to perform better in the fiscal year beginning in April on improved sales of generics in India and Russia, and on a turnaround in its German business.
Growth in the next fiscal should be helped by the launch of a generic version of GlaxoSmithKline's Imitrex tablets in the United States in the December quarter. The company reported a consolidated net loss of 847 million rupees for its fiscal third quarter compared to a net profit of 1.88 billion a year ago.
Tata Group firm Voltas is looking at inorganic route to grow and plans to acquire new businesses in electro-mechanical and services space.The electro-mechanical projects and services business presently contributes around 55-60 per cent to the company’s total revenues.
News Snippets:
Government has asked SBI to go slow on the merger with all its subsidiaries.
NTPC is looking to spend over $1 billion on buying coal assets abroad
Reliance Energy, BEST and Tata Power have sought a hike of 10-15% in tariff rates.
JSW Steel is planning to spin off its overseas mining assets in a new company and list it on the London Stock Exchange.
Kotak Mahindra Bank is all set to acquire a controlling stake in Ahmedabad Commodity exchange.
Reliance Energy and Reliance Engineering Associates have put in bids for Mumbai’s monorail project worth Rs50bn.
ICICI and HDFC Bank have raised the two-wheelers down-payment to 30%.
Orissa likely to scrutinise permissions given to Reliance Retail for opening Reliance Fresh outlets in the state.
Phoenix Mills has upped its stake in Entertainment World Developers by picking up additional 8.3% stake for Rs1.5bn.
Indorama Thailand is acquiring close to 90% equity stake in Tuntex, a Thai manufacturer of polyester fibre and filament, for a sum of US$63.5mn.
HDFC is planning to list its mutual fund arm by the year end.
Rajesh Exports is likely to announce a buy back offer in the near term.
Wheels India and Sundaram Finance, both part of the TVS group, have formed a JV, Sundaram Hydraulics, to produce hydraulic cylinders.
Indo Tech Transformers will double its transformers manufacturing capacity to 7,450 MVA soon.
Lupin is talking to potential partners who may take its herbal and synthetic psoriasis molecules on to complete the cycle of drug development.
Coal Ministry is seeking tax breaks and concessional duty on import of equipment for Coal India.
Indian Hotels has raised tariff of budget hotels by 50%.
JSW Bengal Steel, a subsidiary of JSW Steel is plans to come out with a Rs35bn IPO next year to part finance its proposed 10mn ton steel plant in Salboni.
IOC and Tata Power plan to form a JV to set up a 1,000MW power project at Mirthapur in Orissa.
The merger of Neelachal Ispat Nigam with SAIL could be in trouble with MMTC, unwilling to sell its stake.
Tata Motors plans to launch high-end luxury buses of Spain’s Hispano Carrocera in the Indian market in the near future.
IVRCL plans to bid for airport development projects in small cities and towns.
Jet Airways aims to raise up to US$800mn, including a rights issue for half the amount which was approved in June FY07.
Nissan Copper is planning backward integration with an estimated capex of Rs8bn.
Board of KEI Industries has approved setting up a subsidiary for the power generation business and entering into tie-ups for power generation through biomass-based power plant.
General Electric has put GE Money on the block.
Economic Snippets:
Government is planning a compensation package for states to reduce sales tax on ATF from 15% to 10%.
An eGoM will consider relaxing the 5,000 hectare land ceiling for SEZs, early next month.
RBI will sell two-year government bonds to suck out Rs30bn from market of January 31
Public sector banks want the Government and the RBI to exert more pressure on the Fed for allowing acquisitions and branch expansion.
The government is proposing a hike of 1% in VAT rate.
Fertiliser plants will have the first right over domestic natural gas, followed by petrochemical and existing power units if the government approves a draft natural gas utilization policy.
Russia has lifted the ban on import of tea and coffee from India with immediate effect.
Power ministry plans to float tender inviting firms to manufacture equipment based on super-critical technology for meeting the target of 78,000MW power generation during the 11th plan.
Insurance firms plan to invest US$5bn in the stock market by FY08.
Rubber production in January 2008 may increase by 14% yoy to 110,000 tons.
Monday, January 28, 2008
Subcribe to know more
Id - sheth_jg@yahoo.com
We also advice you to be cautious as there will be settlement issue
As long as Nifty stay above the level 5330 its first support we remain highly bullish.On the upside Nifty faces a first resistance 5560 and crossover this can take to 5650
On the downside the first and immediate support Nifty finds between 5300 - 5325 break of which can create panic and we test the level of 5110 which is hard for the nifty to break in today trade.
Our view.. we are bullish as long as Nifty trades above 5330 for short term... for a target only for clients
US recession, if any is likely to hit chinese markets more than Indian markets as the later is more dependant on US exports. Two key events to ponder on in the coming week are
1. RBI meet on 29 Jan to decide on the credit policy. Though market players expect a 25 basis point cut, the stock market is unlikely to go down in case of no change. We expect a 25 basis point cut is on the cards due to the widening rate gap between India and US.
2. Fed meeting on 30 Jan will dictate the global financial market direction. Majority sections of the market are expecting a 25 basis point cut while the rest, a 50 basis point cut.
Stock in News
Gayatri Projects Ltd has set up a new holding company — Gayatri Infra Ventures Ltd (GIVL) by combining all its build-operate-transfer projects. The company is looking at diluting 50% equity in the new company. Discussions are ongoing with few Private Equity players to offload the stake at a good valuation. The stock closed at Rs 530 on Friday.
Dr Reddy's Laboratories Ltd posted an unexpected net loss for the December quarter as it wrote off $60 million of costs for its underperforming German unit (Beta Pharm)and saw revenues decline.The company hopes to perform better in the fiscal year beginning in April on improved sales of generics in India and Russia, and on a turnaround in its German business.
Growth in the next fiscal should be helped by the launch of a generic version of GlaxoSmithKline's Imitrex tablets in the United States in the December quarter. The company reported a consolidated net loss of 847 million rupees for its fiscal third quarter compared to a net profit of 1.88 billion a year ago.
Tata Group firm Voltas is looking at inorganic route to grow and plans to acquire new businesses in electro-mechanical and services space.The electro-mechanical projects and services business presently contributes around 55-60 per cent to the company’s total revenues.
News Snippets:
Reliance Industries is all set to enter into building an engineering, procurement and construction services (EPC).
Seven promoters of Reliance Energy including Anil Ambani have raised their stake in the company by 2.37% to 35.66%.
ONGC to hire a deepwater rig for 2.3 meter water depth.
Punjab National Bank plans to raise Rs15bn before end-March to fund business growth.(BL)
Kingfisher Airlines to buy around 40 Airbus planes in a deal worth about 5bn Euros
CERC has adopted the Rs2.33296 per unit tariff quoted by Reliance Power for the 4,000MW Krishnapatnam power project in AP.
The Chhattisgarh Govt has cancelled the contract awarded to CMEC and has awarded the same to BHEL for a 600MW thermal power plant in Korba district.
Dr Reddy’s and US based Mylan are among six generic-drug makers to be sued by Forest Labs and Merz Pharma to block sales of lower-cost copies of the Namenda Alzheimer’s treatment
Reliance Industries plans to invest in the petrochemical sector of Poland
SBI has received the US central bank’s approval to set up a new branch in New York.
Standard Chartered Bank is in talks with at least two leading Indian groups to sell its mutual fund business
Welspun Gujarat is in talks to acquire Remi Metals Gujarat
Nicholas Piramal India has signed a research agreement with France’s Pierre Fabre Laboratories
GMR Infrastructure has bagged a 300-MW hydropower projects in Nepal
HDFC Bank will set up over 250 new branches in next 2-3 months
GSPC Pipavav Power Co has signed a Rs20bn loan agreement with Rural Electrification Corporation
Jet Airways may invest US$8-10mn in its cargo airline by June 2008
ICICI Venture will partner with the Indian Express Group for its Express Towers property
Tata Motors is planning to provide loans for the Nano either through Tata Motors Finance (TMFL), a wholly owned subsidiary, or existing financing channels
ICICI Securities aims to raise up to US$1bn through a pre-IPO placement of shares
PTC plans US$1bn fund to acquire coal mines
ADAG firm signs US$100mn gaming deal with exclusive for three-years with Manchester United Football Club
Voltas is planning for acquisitions in its electro-mechanical projects and services business with a view to accelerate growth
Ultratech Cement has decided to acquire the 0.5mn ton Kankesanthurai cement plant in Jaffna that has been closed for more than 17 years.
Bhushan Steel Limited, which is setting up a 1.5mn ton steel plant at Meramundali in Dhenknal district, has closed down two of its four sponge iron making kilns following public agitation over pollution
Bharati Shipyard Limited is focusing on building rigs with its plans to construct Rs6bn greenfield shipyard at Usagaon in Maharashtra
IFCI has put on sale the Goa and Thane units of Vishawa Steels to recover debt
Aditya Birla Group is picking up 5% stake in Core Projects & Technologies, for Rs135m
Shipping Corp to partner PSUs in manufacturing ship engines
HCC plans to partner with European companies in the engineering and design space as part of its plans to transform itself from a construction company to an integrated infrastructure player
BPL is exploring fund raising options to start services in 22 circles in the next two years
Private equity firm Red Fort Capital plans to invest about Rs27bn in real estate by 2009, including acquisition of 2,500 acres of land in over 20 cities across the country
Lupin is planning to acquire a mid-sized branded formulation company in the US
Philip Morris International is in talks with Godfrey Philips India(GPI) to manufacture and market marquee cigarette brand Marlboro through GPI’s facility
Tata group plans to buy a stake in a high-tech unit of Germany’s Deutsche Telekom
GMR Infrastructure will bid for the modernization of Prague airport in Czech.(ET)
Jagson Airlines will start operations as a scheduled regional carrier in about three months
HCL Technologies has signed a MoU with four colleges in Bangalore, as part of its Campus to Corporate career development programme to develop the next generation of corporate community
Alembic to foray into US and European markets
NY based hedge fund BlackRock Inc has acquired the 40% stake held by Merrill Lynch in mutual fund DSP Merrill Lynch Fund Managers
Dutch brewer Heineken is set to buy UK-based Scottish & Newcastle’s (S&N) 37.49% stake in Vijay Mallya’s United Breweries.
Essar Steel to build a jetty at Hazira as its existing port facilities are unable to handle expansion pressure.
Volvo is taking a plunge into the used-truck market, similar to its competitors Tata Motors and Ashok Leyland.
Cipla to consider launching generic Tenofovir Disoproxil Fumarate, an HIV/AIDS drug, if Gilead Sciences does not challenge the decision to overturn its patent on the drug.
JSW group is close to roping in foreign partners for its Rs20bn plate mill project and Rs16bn shipyard at Ratnagiri in Maharashtra.
JSW group is planning to build a deep sea port in West Bengal.
Economic News
Gross tax revenue collections are likely to surpass the Rs6,000bn mark in 2007-08.
The government will discuss the 5,000-hectare restriction on building multi-product SEZs at the eGoM meeting, scheduled for Feb 4.
The proposed fourth commodity exchange, planned by Indiabulls and MMTC, may start functioning by November.
Sugar export may increase up to 3mn tons in 2007-08, according to National Federation of Cooperative Sugar.
RBI has asked NBFCs to obtain its prior approval for setting up subsidiaries, joint ventures and representative offices abroad.
Insurance companies will be allowed to invest in bonds floated by developers of SEZs, with IRDA giving its nod to broaden the definition of infrastructure.
The Government’s draft on gas allocation policy will be ready in the next couple of weeks.
21 oil and gas operators including BP, ENI, BG, Cairn, RIL and ONGC have decided to form a joint pool of scarce equipment and services to save cost.
We also advice you to be cautious as there will be settlement issue
As long as Nifty stay above the level 5330 its first support we remain highly bullish.On the upside Nifty faces a first resistance 5560 and crossover this can take to 5650
On the downside the first and immediate support Nifty finds between 5300 - 5325 break of which can create panic and we test the level of 5110 which is hard for the nifty to break in today trade.
Our view.. we are bullish as long as Nifty trades above 5330 for short term... for a target only for clients
US recession, if any is likely to hit chinese markets more than Indian markets as the later is more dependant on US exports. Two key events to ponder on in the coming week are
1. RBI meet on 29 Jan to decide on the credit policy. Though market players expect a 25 basis point cut, the stock market is unlikely to go down in case of no change. We expect a 25 basis point cut is on the cards due to the widening rate gap between India and US.
2. Fed meeting on 30 Jan will dictate the global financial market direction. Majority sections of the market are expecting a 25 basis point cut while the rest, a 50 basis point cut.
Stock in News
Gayatri Projects Ltd has set up a new holding company — Gayatri Infra Ventures Ltd (GIVL) by combining all its build-operate-transfer projects. The company is looking at diluting 50% equity in the new company. Discussions are ongoing with few Private Equity players to offload the stake at a good valuation. The stock closed at Rs 530 on Friday.
Dr Reddy's Laboratories Ltd posted an unexpected net loss for the December quarter as it wrote off $60 million of costs for its underperforming German unit (Beta Pharm)and saw revenues decline.The company hopes to perform better in the fiscal year beginning in April on improved sales of generics in India and Russia, and on a turnaround in its German business.
Growth in the next fiscal should be helped by the launch of a generic version of GlaxoSmithKline's Imitrex tablets in the United States in the December quarter. The company reported a consolidated net loss of 847 million rupees for its fiscal third quarter compared to a net profit of 1.88 billion a year ago.
Tata Group firm Voltas is looking at inorganic route to grow and plans to acquire new businesses in electro-mechanical and services space.The electro-mechanical projects and services business presently contributes around 55-60 per cent to the company’s total revenues.
News Snippets:
Reliance Industries is all set to enter into building an engineering, procurement and construction services (EPC).
Seven promoters of Reliance Energy including Anil Ambani have raised their stake in the company by 2.37% to 35.66%.
ONGC to hire a deepwater rig for 2.3 meter water depth.
Punjab National Bank plans to raise Rs15bn before end-March to fund business growth.(BL)
Kingfisher Airlines to buy around 40 Airbus planes in a deal worth about 5bn Euros
CERC has adopted the Rs2.33296 per unit tariff quoted by Reliance Power for the 4,000MW Krishnapatnam power project in AP.
The Chhattisgarh Govt has cancelled the contract awarded to CMEC and has awarded the same to BHEL for a 600MW thermal power plant in Korba district.
Dr Reddy’s and US based Mylan are among six generic-drug makers to be sued by Forest Labs and Merz Pharma to block sales of lower-cost copies of the Namenda Alzheimer’s treatment
Reliance Industries plans to invest in the petrochemical sector of Poland
SBI has received the US central bank’s approval to set up a new branch in New York.
Standard Chartered Bank is in talks with at least two leading Indian groups to sell its mutual fund business
Welspun Gujarat is in talks to acquire Remi Metals Gujarat
Nicholas Piramal India has signed a research agreement with France’s Pierre Fabre Laboratories
GMR Infrastructure has bagged a 300-MW hydropower projects in Nepal
HDFC Bank will set up over 250 new branches in next 2-3 months
GSPC Pipavav Power Co has signed a Rs20bn loan agreement with Rural Electrification Corporation
Jet Airways may invest US$8-10mn in its cargo airline by June 2008
ICICI Venture will partner with the Indian Express Group for its Express Towers property
Tata Motors is planning to provide loans for the Nano either through Tata Motors Finance (TMFL), a wholly owned subsidiary, or existing financing channels
ICICI Securities aims to raise up to US$1bn through a pre-IPO placement of shares
PTC plans US$1bn fund to acquire coal mines
ADAG firm signs US$100mn gaming deal with exclusive for three-years with Manchester United Football Club
Voltas is planning for acquisitions in its electro-mechanical projects and services business with a view to accelerate growth
Ultratech Cement has decided to acquire the 0.5mn ton Kankesanthurai cement plant in Jaffna that has been closed for more than 17 years.
Bhushan Steel Limited, which is setting up a 1.5mn ton steel plant at Meramundali in Dhenknal district, has closed down two of its four sponge iron making kilns following public agitation over pollution
Bharati Shipyard Limited is focusing on building rigs with its plans to construct Rs6bn greenfield shipyard at Usagaon in Maharashtra
IFCI has put on sale the Goa and Thane units of Vishawa Steels to recover debt
Aditya Birla Group is picking up 5% stake in Core Projects & Technologies, for Rs135m
Shipping Corp to partner PSUs in manufacturing ship engines
HCC plans to partner with European companies in the engineering and design space as part of its plans to transform itself from a construction company to an integrated infrastructure player
BPL is exploring fund raising options to start services in 22 circles in the next two years
Private equity firm Red Fort Capital plans to invest about Rs27bn in real estate by 2009, including acquisition of 2,500 acres of land in over 20 cities across the country
Lupin is planning to acquire a mid-sized branded formulation company in the US
Philip Morris International is in talks with Godfrey Philips India(GPI) to manufacture and market marquee cigarette brand Marlboro through GPI’s facility
Tata group plans to buy a stake in a high-tech unit of Germany’s Deutsche Telekom
GMR Infrastructure will bid for the modernization of Prague airport in Czech.(ET)
Jagson Airlines will start operations as a scheduled regional carrier in about three months
HCL Technologies has signed a MoU with four colleges in Bangalore, as part of its Campus to Corporate career development programme to develop the next generation of corporate community
Alembic to foray into US and European markets
NY based hedge fund BlackRock Inc has acquired the 40% stake held by Merrill Lynch in mutual fund DSP Merrill Lynch Fund Managers
Dutch brewer Heineken is set to buy UK-based Scottish & Newcastle’s (S&N) 37.49% stake in Vijay Mallya’s United Breweries.
Essar Steel to build a jetty at Hazira as its existing port facilities are unable to handle expansion pressure.
Volvo is taking a plunge into the used-truck market, similar to its competitors Tata Motors and Ashok Leyland.
Cipla to consider launching generic Tenofovir Disoproxil Fumarate, an HIV/AIDS drug, if Gilead Sciences does not challenge the decision to overturn its patent on the drug.
JSW group is close to roping in foreign partners for its Rs20bn plate mill project and Rs16bn shipyard at Ratnagiri in Maharashtra.
JSW group is planning to build a deep sea port in West Bengal.
Economic News
Gross tax revenue collections are likely to surpass the Rs6,000bn mark in 2007-08.
The government will discuss the 5,000-hectare restriction on building multi-product SEZs at the eGoM meeting, scheduled for Feb 4.
The proposed fourth commodity exchange, planned by Indiabulls and MMTC, may start functioning by November.
Sugar export may increase up to 3mn tons in 2007-08, according to National Federation of Cooperative Sugar.
RBI has asked NBFCs to obtain its prior approval for setting up subsidiaries, joint ventures and representative offices abroad.
Insurance companies will be allowed to invest in bonds floated by developers of SEZs, with IRDA giving its nod to broaden the definition of infrastructure.
The Government’s draft on gas allocation policy will be ready in the next couple of weeks.
21 oil and gas operators including BP, ENI, BG, Cairn, RIL and ONGC have decided to form a joint pool of scarce equipment and services to save cost.
Friday, January 25, 2008
AVOID AVERAGING YOUR POSITIONS-JUST SAVE WHAT U HAVE ALREADY
Live calls during market hour are only given to client
HOT Picks - RAJESH EXPORT : Our Target Intact : 1250
On the down side I see a good support at 4860 and 4741. Market not expected to go below this. If it all happened that market happens to break 4741 by any reason then panic selling is expected to emerge which will straight away drag down the market to 4485
On the upper side I see a minor resistance at 5056 then 5125, then 5256 and then a good resistance at 5355. If we happen to break this resistance then we will straight up movement to 5550 and then 5650
Today market looks in uptrend but every rise will be accompanied by selling. I will have a strong watch on Nifty future, it is showing some signal of improvement. Total strategy only for clients
Indian markets are likely to pull back strongly with momentum stocks taking the front seat.
Pick No 1- Sell Akruti Nirman (bse code 532799) - Currently trading at 1165.7 in BSE. We would give a sell signal at this level taking stop loss 1200. Below 1153 it is expected to show down momentum. Final target and final stop loss only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly. Advise you to buy or sell this position seeing the market conditions
Pick No 2 - Buy Lic Housing (bse code 500253) - Looks good at this level. Currently trading at 298 in BSE Ideal stop loss would be below 292... Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly. Advise you to buy or sell this position seeing the market conditions
Pick No 3 - Buy Remsons India (bse code 530919) - Looks good at this level. Currently trading at 35 in BSE, Ideal stop loss would be below 33.5... Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly. Advise you to buy or sell this position seeing the market conditions
PNB, Patni computers and Vishal Retail are the stocks in the news today
Punjab National Bank is planning an IPO of the wholly owned subsidiary PNB Housing Finance Ltd in the coming months to help fund its business growth.The decision is expected to be taken within the next 6 months.PNB Housing needs more capital to scale up its operations and that the bank does not want to infuse more capital in the subsidiary.So they have decided to go through the equity route
Patni Computer Systems Ltd said on Thursday its board will consider a share buyback at a meeting on Feb. 5 and Feb. 6. The stock closed at 232 on Thursday.
Vishal Retail Ltd which became public in June 2007, reported a third quarter net profit of Rs15 crore on better margins and increased sales.The company, which opened 27 new stores in the October-December quarte. The company has 82 supermarkets and specialty stores in more than 50 cities
HOT Picks - RAJESH EXPORT : Our Target Intact : 1250
On the down side I see a good support at 4860 and 4741. Market not expected to go below this. If it all happened that market happens to break 4741 by any reason then panic selling is expected to emerge which will straight away drag down the market to 4485
On the upper side I see a minor resistance at 5056 then 5125, then 5256 and then a good resistance at 5355. If we happen to break this resistance then we will straight up movement to 5550 and then 5650
Today market looks in uptrend but every rise will be accompanied by selling. I will have a strong watch on Nifty future, it is showing some signal of improvement. Total strategy only for clients
Indian markets are likely to pull back strongly with momentum stocks taking the front seat.
Pick No 1- Sell Akruti Nirman (bse code 532799) - Currently trading at 1165.7 in BSE. We would give a sell signal at this level taking stop loss 1200. Below 1153 it is expected to show down momentum. Final target and final stop loss only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly. Advise you to buy or sell this position seeing the market conditions
Pick No 2 - Buy Lic Housing (bse code 500253) - Looks good at this level. Currently trading at 298 in BSE Ideal stop loss would be below 292... Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly. Advise you to buy or sell this position seeing the market conditions
Pick No 3 - Buy Remsons India (bse code 530919) - Looks good at this level. Currently trading at 35 in BSE, Ideal stop loss would be below 33.5... Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly. Advise you to buy or sell this position seeing the market conditions
PNB, Patni computers and Vishal Retail are the stocks in the news today
Punjab National Bank is planning an IPO of the wholly owned subsidiary PNB Housing Finance Ltd in the coming months to help fund its business growth.The decision is expected to be taken within the next 6 months.PNB Housing needs more capital to scale up its operations and that the bank does not want to infuse more capital in the subsidiary.So they have decided to go through the equity route
Patni Computer Systems Ltd said on Thursday its board will consider a share buyback at a meeting on Feb. 5 and Feb. 6. The stock closed at 232 on Thursday.
Vishal Retail Ltd which became public in June 2007, reported a third quarter net profit of Rs15 crore on better margins and increased sales.The company, which opened 27 new stores in the October-December quarte. The company has 82 supermarkets and specialty stores in more than 50 cities
Thursday, January 24, 2008
Subscribe to GAIN MONEY
Live calls during market hour are only given to client, add sheth_jg@yahoo.com
On upper side immediate resistance is faced at 5280 and 5330 break of which can take us to 5413.
On downside good support is seen at 5115 and then 4963. The Nifty should save this level.
Our view Nifty should play between 5115 - 5280,and will also look at 5115 and 5280 level. Any reversal or break out from these should be considered an opportunity.
Keep eyes on - RNRL, Union Bank, Reliance energy
Deccan Aviation and Kingfisher Airlines together plan to mop up RS 250 million from the equity markets to fund expansion. The UB Group owns 50 per cent stake in Deccan Aviation wants to raise the funds as soon as possible. One might expect the stock to fly today. the stock closed at rs 184 on Wednesday.
IndoAsian Fusegear Ltd is looking out for foreign acquistions to expand in the switch gear market. The company is in advanced talks with two German firms for a consideration of Rs 100 crores. The firm plans to raise capital via FCCB route and preferential issue to promoters.
Varun Shipping is betting big on the shipping Industry by mulling an expansion plan. It plans to spend close to half a billion dollars on acquiring new fleet for Offshore operations. It is worth noting that the company is planning its foray in to rig operations, which is a high margin business. the stock closed up 15% at Rs 76.50 yesterday
Pick No 1- Buy emami ltd (bse code 531162) - Currently trading at 265.5 in BSE. We would give a buy signal at this level anywhere between 264 - 267. Ideal stop loss should be taken 261.. risky trader can take stop loss at 258. Final target and final stop loss only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly
Pick No 2 - Buy Godrej Consumer (bse code 532424) - Looks good at this level. Currently trading at 113.90. Ideal stop loss would be below 107. Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly
On upper side immediate resistance is faced at 5280 and 5330 break of which can take us to 5413.
On downside good support is seen at 5115 and then 4963. The Nifty should save this level.
Our view Nifty should play between 5115 - 5280,and will also look at 5115 and 5280 level. Any reversal or break out from these should be considered an opportunity.
Keep eyes on - RNRL, Union Bank, Reliance energy
Deccan Aviation and Kingfisher Airlines together plan to mop up RS 250 million from the equity markets to fund expansion. The UB Group owns 50 per cent stake in Deccan Aviation wants to raise the funds as soon as possible. One might expect the stock to fly today. the stock closed at rs 184 on Wednesday.
IndoAsian Fusegear Ltd is looking out for foreign acquistions to expand in the switch gear market. The company is in advanced talks with two German firms for a consideration of Rs 100 crores. The firm plans to raise capital via FCCB route and preferential issue to promoters.
Varun Shipping is betting big on the shipping Industry by mulling an expansion plan. It plans to spend close to half a billion dollars on acquiring new fleet for Offshore operations. It is worth noting that the company is planning its foray in to rig operations, which is a high margin business. the stock closed up 15% at Rs 76.50 yesterday
Pick No 1- Buy emami ltd (bse code 531162) - Currently trading at 265.5 in BSE. We would give a buy signal at this level anywhere between 264 - 267. Ideal stop loss should be taken 261.. risky trader can take stop loss at 258. Final target and final stop loss only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly
Pick No 2 - Buy Godrej Consumer (bse code 532424) - Looks good at this level. Currently trading at 113.90. Ideal stop loss would be below 107. Final target and stop loss would only for clients. Clients will exit only after our SMS. You people see the market and trade accordingly
Wednesday, January 23, 2008
Subscribe to know more ..........
Our id - sheth_jg@yahoo.com
There is no effect in US markets in spite of cut in interest rate by .75% by Federal Reserve to improve the US economy and DOW , NASDAQ closed down by -128.11,-47.75 respectively. However the position of the Asian market and Aus market seem to be good as they have recovered and running in positively. Due to these reason Indian markets are looking to give recovery today but that shall be an instant recovery only. The reason behind this is that this recovery shall be an artificial recovery. Today there may be opening of Bombay sensitive index by +400 pts and may recover to the extent of 750 pts to 1000 pts. Technically the first resistance for sensitive index shall be 17,420.00
These stocks might look for a rebound
Oswal chemicals, Wire & Wireless, Chambal Fert Nagarjuna Fert, Bongaigaon Ref, RNRL and Ispat Industries are the stocks looking desparately for a rebound after having their head cut off in the past three sessions.
When RBI meets next tuesday to discuss the monetary policy Mr.Y V Reddy, RBI governor will be under tremendous pressure to cut rates given the worst conditions prevailing. Also there is a urgent need to fill the gap in interest rates between US and India, created by Mr.Bernake's 75 basis point cut yesterday.
The bigger the gap, the quicker will be the inflows resulting in more liquidity and a stronger rupee which in turn puts the Indian Central bank in a fix. Canada Reserve Bank take a cue from their neighbours announced a 25 basis point cut.
Investment Picks GMR Infrastructure,RPL,Sterlite Industries,Axis Bank,L&T
News Snippets:
SBI group's consolidation is likely to be delayed.
L&T may form a JV with US arms major Lockheed Martin to develop Mark 41 Vertical Launching Systems in India.
NTPC and Gail might have to pump in more money into the Dabhol power project.
Tata Motors has signed a development contract with Chrysler’s electric vehicle unit to develop and market an electric version of the Ace in the US.
Tata Power, GMR Energy and GVK Power are eyeing New Delhi's ’s Rs1.75bn first waste-to-energy project.
An Empowered Committee of Secretaries has allowed ONGC Videsh to acquire stake in Venezuela’s San Cristobal oilfield.
NTPC is looking to invest Rs17bn in a Jharkhand coal mine.
GAIL and Engineers India have jointly submitted an EoI to Oman Gas Company for setting up a gas processing plant in Oman.
United Spirits has launched Dalmore and Jura from its Whyte & Mackay portfolio along with W&M blended scotches.
Piaggio is planning to increase production and launch new scooters in India.
Sobha Developers is planning to develop a 156-unit luxury residential project in North Bangalore.
Infosys and Wipro may bid for specific verticals of Capgemini.
Supreme Court has rejected a petition seeking stay on construction of DLF Cyber city in Gurgaon.
Arvind Mills is planning to invest Rs4bn to expand its retail business in four years.
GHCL is planning to demerge its business into three listed entities.
Jet Airways is to set up a Maintenance Repair and Overhaul facility and a flight catering facility.
Aegis Logistics intends to set up 70 outlets of Auto Gas LPG in Andhra Pradesh.
Delay on the part of Essar Oilfield Services in deploying a semi-submersible rig has affected GSPC’s exploration plan in its deepwater K-G Basin block.
IOC is setting up an LPG import facility at the land allotted to it by Cochin Port Trust at an investment of Rs1.7bn.
SIDBI has reduced its prime lending rate by 0.5% and its deposit rates by 0.25%.
Tanishq, the jewellery division of Titan Industries is embarking on a retail expansion with an aim to increase sales by 50% to Rs30bn in FY09.
A consortium comprising Reliance Energy and Spanish firm CAF has bagged the project to operate and manage a 22.7 km metro rail link between New Delhi city centre and international airport for 30 years.
Huawei Tech, Telefon AB LM Ericsson and Nokia Siemens Networks are pursuing a supply contract worth ~US$4.8bn with Tata Tele.
Apollo Tyres expects revenues of US$350mn from Hungarian unit in the second year of operations.
HDFC Bank is looking to foray into investment banking in the next 3-4 months.
PNB may quit JVs with Principal Financial Group in the asset management and insurance broking businesses.
India added 8.17mn new telecom subscribers in December, taking overall telecom density to 23.89%.
The RBI has temporarily allowed banks to increase their ceilings on capital market exposures.
The Government is planning a Rs70bn package to revive the irrigation sector.
The Government is planning to relax few ECB norms for Ultra Mega Power projects.
Freight rates for bulk commodities like coal and iron ore could go down by 3-5% in the forthcoming railway budget.
Indian Railways has managed to negotiate a discount of Rs150 per kilolitre of HSD from oil marketing firms for 2008.
The EGoM on SEZs will discuss a finance ministry proposal on February 4, to impose export obligation in excess of 50% on such zones.
There is no effect in US markets in spite of cut in interest rate by .75% by Federal Reserve to improve the US economy and DOW , NASDAQ closed down by -128.11,-47.75 respectively. However the position of the Asian market and Aus market seem to be good as they have recovered and running in positively. Due to these reason Indian markets are looking to give recovery today but that shall be an instant recovery only. The reason behind this is that this recovery shall be an artificial recovery. Today there may be opening of Bombay sensitive index by +400 pts and may recover to the extent of 750 pts to 1000 pts. Technically the first resistance for sensitive index shall be 17,420.00
These stocks might look for a rebound
Oswal chemicals, Wire & Wireless, Chambal Fert Nagarjuna Fert, Bongaigaon Ref, RNRL and Ispat Industries are the stocks looking desparately for a rebound after having their head cut off in the past three sessions.
When RBI meets next tuesday to discuss the monetary policy Mr.Y V Reddy, RBI governor will be under tremendous pressure to cut rates given the worst conditions prevailing. Also there is a urgent need to fill the gap in interest rates between US and India, created by Mr.Bernake's 75 basis point cut yesterday.
The bigger the gap, the quicker will be the inflows resulting in more liquidity and a stronger rupee which in turn puts the Indian Central bank in a fix. Canada Reserve Bank take a cue from their neighbours announced a 25 basis point cut.
Investment Picks GMR Infrastructure,RPL,Sterlite Industries,Axis Bank,L&T
News Snippets:
SBI group's consolidation is likely to be delayed.
L&T may form a JV with US arms major Lockheed Martin to develop Mark 41 Vertical Launching Systems in India.
NTPC and Gail might have to pump in more money into the Dabhol power project.
Tata Motors has signed a development contract with Chrysler’s electric vehicle unit to develop and market an electric version of the Ace in the US.
Tata Power, GMR Energy and GVK Power are eyeing New Delhi's ’s Rs1.75bn first waste-to-energy project.
An Empowered Committee of Secretaries has allowed ONGC Videsh to acquire stake in Venezuela’s San Cristobal oilfield.
NTPC is looking to invest Rs17bn in a Jharkhand coal mine.
GAIL and Engineers India have jointly submitted an EoI to Oman Gas Company for setting up a gas processing plant in Oman.
United Spirits has launched Dalmore and Jura from its Whyte & Mackay portfolio along with W&M blended scotches.
Piaggio is planning to increase production and launch new scooters in India.
Sobha Developers is planning to develop a 156-unit luxury residential project in North Bangalore.
Infosys and Wipro may bid for specific verticals of Capgemini.
Supreme Court has rejected a petition seeking stay on construction of DLF Cyber city in Gurgaon.
Arvind Mills is planning to invest Rs4bn to expand its retail business in four years.
GHCL is planning to demerge its business into three listed entities.
Jet Airways is to set up a Maintenance Repair and Overhaul facility and a flight catering facility.
Aegis Logistics intends to set up 70 outlets of Auto Gas LPG in Andhra Pradesh.
Delay on the part of Essar Oilfield Services in deploying a semi-submersible rig has affected GSPC’s exploration plan in its deepwater K-G Basin block.
IOC is setting up an LPG import facility at the land allotted to it by Cochin Port Trust at an investment of Rs1.7bn.
SIDBI has reduced its prime lending rate by 0.5% and its deposit rates by 0.25%.
Tanishq, the jewellery division of Titan Industries is embarking on a retail expansion with an aim to increase sales by 50% to Rs30bn in FY09.
A consortium comprising Reliance Energy and Spanish firm CAF has bagged the project to operate and manage a 22.7 km metro rail link between New Delhi city centre and international airport for 30 years.
Huawei Tech, Telefon AB LM Ericsson and Nokia Siemens Networks are pursuing a supply contract worth ~US$4.8bn with Tata Tele.
Apollo Tyres expects revenues of US$350mn from Hungarian unit in the second year of operations.
HDFC Bank is looking to foray into investment banking in the next 3-4 months.
PNB may quit JVs with Principal Financial Group in the asset management and insurance broking businesses.
India added 8.17mn new telecom subscribers in December, taking overall telecom density to 23.89%.
The RBI has temporarily allowed banks to increase their ceilings on capital market exposures.
The Government is planning a Rs70bn package to revive the irrigation sector.
The Government is planning to relax few ECB norms for Ultra Mega Power projects.
Freight rates for bulk commodities like coal and iron ore could go down by 3-5% in the forthcoming railway budget.
Indian Railways has managed to negotiate a discount of Rs150 per kilolitre of HSD from oil marketing firms for 2008.
The EGoM on SEZs will discuss a finance ministry proposal on February 4, to impose export obligation in excess of 50% on such zones.
Tuesday, January 22, 2008
Patiance needed in the market
Today's Strategy
If you go to study the reason behind Monday market fall, you will find several. But if you had follow technical you would have never get caught or you would have exited with minor loss.
Lets come to a point. How does market look tomorrow ?
If you survey it closely you would see that market had recovered at the last half an hour trade, this is one of the positive sign.
But seeing the European markets I don't expect a positive opening, unless Asian markets comes out with miracle.
Let us assume that the market goes down. In this keep a watch on 5085 a first technical support, if we happen to break this level and trade below this level for a couple of minutes we might see 4980. These two are most important level to watch, if market is expected to bounce back then bounce back should come from any one of these levels. If these two levels fails to give any reaction then we might see 4600 - 4650.
If at all we happen to move towards positive direction, then the first resistance we find it at 5375 not a very hard resistance then 5412, 5495 but we find a solid resistance at 5612 which seems hard to be broken in tomorrow trade if at all market move up with force which is not expected.
NorTechnicals nor Fundamentals work in a panic market hence lets wait and see what happens on Tuesday. Its the best chance a Investor with time horizon of 6 – 12 months should utilise to add stocks
Pick No 1 - Buy Dabur (BSE Code 532683) - Currently trading at 101. Let market settle then buy this stock around 98 keeping a stop at 94. No doubt this stock looks good but market doesn't look good so play cautiously any buy position. The final target and final stop loss will be given only to clients.
Pick No 2 - Buy Cinemax (BSE Code 532807) - Currently trading at 112.70, let market settle buy this stock 102 keep a stop at 92 this stock looks good to buy at this level. Market doesn't look good so play cautiously any buy position. The final target and final stop loss will be given only to clients.
Live calls during market hour are only given to client. Some time we give free calls in week and market updates for free. For this add sheth_jg@yahoo.com
If you go to study the reason behind Monday market fall, you will find several. But if you had follow technical you would have never get caught or you would have exited with minor loss.
Lets come to a point. How does market look tomorrow ?
If you survey it closely you would see that market had recovered at the last half an hour trade, this is one of the positive sign.
But seeing the European markets I don't expect a positive opening, unless Asian markets comes out with miracle.
Let us assume that the market goes down. In this keep a watch on 5085 a first technical support, if we happen to break this level and trade below this level for a couple of minutes we might see 4980. These two are most important level to watch, if market is expected to bounce back then bounce back should come from any one of these levels. If these two levels fails to give any reaction then we might see 4600 - 4650.
If at all we happen to move towards positive direction, then the first resistance we find it at 5375 not a very hard resistance then 5412, 5495 but we find a solid resistance at 5612 which seems hard to be broken in tomorrow trade if at all market move up with force which is not expected.
NorTechnicals nor Fundamentals work in a panic market hence lets wait and see what happens on Tuesday. Its the best chance a Investor with time horizon of 6 – 12 months should utilise to add stocks
Pick No 1 - Buy Dabur (BSE Code 532683) - Currently trading at 101. Let market settle then buy this stock around 98 keeping a stop at 94. No doubt this stock looks good but market doesn't look good so play cautiously any buy position. The final target and final stop loss will be given only to clients.
Pick No 2 - Buy Cinemax (BSE Code 532807) - Currently trading at 112.70, let market settle buy this stock 102 keep a stop at 92 this stock looks good to buy at this level. Market doesn't look good so play cautiously any buy position. The final target and final stop loss will be given only to clients.
Live calls during market hour are only given to client. Some time we give free calls in week and market updates for free. For this add sheth_jg@yahoo.com
Monday, January 21, 2008
TODAY IS BANKING DAY
NIFTY JAN 5900 PUT is flat, OI of NIFTY JAN 5800,5700,5600,5500 PUTS rises indicating more downside still remain. I expect on Monday if mkt trades negative till 12 noon then margin calls of retail investors will be triggered. I expect NIFTY SPOT will come down to below 5600 levels in intraday. I prefer to watch OI of NIFTY FUT and OI of NIFTY JAN 5900 PUT at these levels then decide whether to go long or to wait. I also expect bounce back of NIFTY SPOT from 5550-5600 levels.I m expecting expiry of JAN SERIES above 5900 levels in current situation but more clear picture of expiry will emerge next week
Click http://niftyintraday.googlepages.com/nifty50 to View Live Nifty Intraday Chart
The stocks that hit the headlines today are ICICI Bank, Idea Cellular, Gujarat Alkalies, Parsvnath Developers, Wockhardt and many more including AP Petrochemicals etc..
ICICI Bank Ltd to dilute 15% holding in its subsidiary ICICI Securities Ltd through an IPO and private placement soon.
Wockhardt today announced the demerger of R&D division which will be effective from Jan 01, 2009 following the foot steps of its peers like Ranbaxy, Sun Pharma & Nicholas Piramal
Essar Steel is in the race for Canadian based magnetite iron ore company Millennium Iron Ore Range.
Sun Pharma Advanced Research Company's (SPARC) new molecule (NCE- SUN 1334H - anti allergy) has advanced in to phase III of clinical trials
Housing Development and Infrastructure (HDIL), will invest Rs 2,000 crore on developing Cybercity near Kochi.
JOIN TO KNOW MORE, ADD MY MESSENGER ID sheth_jg@yahoo.com
Click http://niftyintraday.googlepages.com/nifty50 to View Live Nifty Intraday Chart
The stocks that hit the headlines today are ICICI Bank, Idea Cellular, Gujarat Alkalies, Parsvnath Developers, Wockhardt and many more including AP Petrochemicals etc..
ICICI Bank Ltd to dilute 15% holding in its subsidiary ICICI Securities Ltd through an IPO and private placement soon.
Wockhardt today announced the demerger of R&D division which will be effective from Jan 01, 2009 following the foot steps of its peers like Ranbaxy, Sun Pharma & Nicholas Piramal
Essar Steel is in the race for Canadian based magnetite iron ore company Millennium Iron Ore Range.
Sun Pharma Advanced Research Company's (SPARC) new molecule (NCE- SUN 1334H - anti allergy) has advanced in to phase III of clinical trials
Housing Development and Infrastructure (HDIL), will invest Rs 2,000 crore on developing Cybercity near Kochi.
JOIN TO KNOW MORE, ADD MY MESSENGER ID sheth_jg@yahoo.com
Friday, January 18, 2008
GAP DOWN OPEN
The market may edge lower tracking weak global markets. US stocks fell sharply on Thursday, 17 January 2008, as news of a plunge in regional factory activity and a hefty loss at Merrill Lynch further clouded an increasingly dire view of the US economy. In one of the strongest signals yet that the economy is at high risk of contracting, the Philadelphia Federal Reserve Bank said mid-Atlantic factory activity has slowed much more than expected to levels that typically signal recession.
The Q3 December 2007 results announced by India Inc. so far have been more or less in line with market expectations. Stock-specific activity may rule the roost in the near term based on expectations of results of individual firms. Some of the top brokerages expect a slowdown in earnings growth of 30-Sensex firms in Q3 December 2007.
Just a while ago, Wipro reported 11% growth in net profit as per US accounting standards to Rs 826 crore in Q3 December 2007 over Q3 December 2006. The other key results scheduled today are ITC and HDFC.
The government will release the inflation figure for the year through 5 January 2008 today. Annual inflation, based on the wholesale price index (WPI), stood at 3.5% in the year through 29 December 2007, same as the year through 22 December 2007.
Meanwhile, no decision was taken yesterday, 17 January 2008, at a meeting of the group of ministers (GoM) on fuel prices. GoM meet again later. A hike retail fuel prices will result in increase in inflation.
In Asia, key benchmark indices in Hong Kong, China, Japan, South Korea, and Taiwan were down by between 0.1% to 2.32%.
The Dow Jones industrial average plunged 306.95 points, or 2.46%, to close at 12,159.21, on Thursday. The Standard & Poor's 500 Index lost 39.95 points, or 2.91%, at 1,333.25. The Nasdaq Composite Index shed 47.69 points, or 1.99%, at 2,346.90.
FIIs sold shares worth a net Rs 2267.40 crore on Thursday, the day when Sensex lost 167 points. Domestic funds bought shares worth a net Rs 734.75 crore on that day.
FIIs were net buyers of index futures to the tune of Rs 611.60 crore on Thursday. They net bought index options worth Rs 279.71 crore. FIIs sold individual stock futures to the tune of Rs 1220.25 crore on that day.
The Q3 December 2007 results announced by India Inc. so far have been more or less in line with market expectations. Stock-specific activity may rule the roost in the near term based on expectations of results of individual firms. Some of the top brokerages expect a slowdown in earnings growth of 30-Sensex firms in Q3 December 2007.
Just a while ago, Wipro reported 11% growth in net profit as per US accounting standards to Rs 826 crore in Q3 December 2007 over Q3 December 2006. The other key results scheduled today are ITC and HDFC.
The government will release the inflation figure for the year through 5 January 2008 today. Annual inflation, based on the wholesale price index (WPI), stood at 3.5% in the year through 29 December 2007, same as the year through 22 December 2007.
Meanwhile, no decision was taken yesterday, 17 January 2008, at a meeting of the group of ministers (GoM) on fuel prices. GoM meet again later. A hike retail fuel prices will result in increase in inflation.
In Asia, key benchmark indices in Hong Kong, China, Japan, South Korea, and Taiwan were down by between 0.1% to 2.32%.
The Dow Jones industrial average plunged 306.95 points, or 2.46%, to close at 12,159.21, on Thursday. The Standard & Poor's 500 Index lost 39.95 points, or 2.91%, at 1,333.25. The Nasdaq Composite Index shed 47.69 points, or 1.99%, at 2,346.90.
FIIs sold shares worth a net Rs 2267.40 crore on Thursday, the day when Sensex lost 167 points. Domestic funds bought shares worth a net Rs 734.75 crore on that day.
FIIs were net buyers of index futures to the tune of Rs 611.60 crore on Thursday. They net bought index options worth Rs 279.71 crore. FIIs sold individual stock futures to the tune of Rs 1220.25 crore on that day.
Thursday, January 17, 2008
TCS beats the street, bulls retreat
Today, Nifty has support at 5,842 and resistance at 6,027 and BSE Sensex has support at 19,521 and resistance at 20,189
On Wednesday, the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs5,209.90 Crore and the gross debt purchased was Rs249.10 Crore while the gross equity sold stood at Rs4,984.10 Crore and gross debt sold stood at Rs45.10 Crore. Therefore, the net investment of equity reported was Rs225.80 Crore and net debt was Rs204 Crore.
TCS beats the street with exemplory results with a 19% jump in the net profit. The company is more focussed on emerging economies and reducing the exposure to US. Growth in operating margins of IT biggies is definitely worth noting with TCS contuining the trend intiated by Infosys, offsetting the strong Rupee.
US Markets could not sustain at higher levels and continued to drift down.
Indian Markets are likely to consolidate today and Midcaps are showing signs of resistance. Reliance Power and Future Capital IPO continued to take the sheen away from the secondary markets with huge interest from retail investors oversubscribing the issues 13 and 132 times respectively
We are not cautious on Indian Markets at these levels except for volatility. We believe markets are likely to move up after a decent consolidation. But major up moves cannot be expected with global turmoil buzz doing rounds. Patience pays
ICICI Bank is expected to double on value unlocking in the next one year
Megasoft is doing exceedingly well but can be picked only from a one year
perspective
Wockhard is expected to jump soon on the demerger news.
News Snippets:
Vedanta Resources is panning to invest over US$12.5bn in metals, mining and power generation by 2012.
REL gets nod from ministry of environment and forest for a 4,000MW power project in Maharashtra.
Infosys BPO expects to close three integrated IT-BPO deals in the range of US$50-150mn each in the next 3-6 months.
Wipro denies negotiations to takeover or merge with French IT company, Cap Gemini.
Maruti to roll out its Rs10-lakh luxury passenger car, Kizashi, in 2010.
NTPC to foray into power equipment manufacturing after getting a clearance from the board for a JV with Bharat Forge.
PTC raises Rs12bn through QIP.
JSW Steel gets 8 mining concessions in north of Chile.
Apollo Tyres is planning to set-up a greenfield passenger car radial tyre facility in Hungary.
Tata Steel enters in JV with Oman-based Al Bahja group for development of Uyum limestone deposits at Salalah.
Infosys BPO to set-up a new unit for its foray in the domestic business.
M&M will invest Rs1bn to make diesel engine for Scorpio, to comply with the US emission norms.
National Fertilizers, RCF and KRIBHCO to form JV to explore the possibility of investments in nitrogenous, phosphatic and potassic sector.
Sterlite Energy is planning a pre-IPO placement of US$1bn in next couple of months.
MTNL to invest Rs15bn to expand GSM and broadband operations.
NMDC likely to get Navratna status.
Simplex Infrastructure to foray into thermal power generation through a JV.
LIC Housing Finance plans to raise Rs3-4bn by issuing fresh shares to select investors in next 3-4 months.
GHCL to expand soda ash capacity in India by 2,50,00 tpa by 2010.
Deccan plans to launch international flights from August.
Gitanjali Gems forms five wholly-owned subsidiaries for developing SEZs.
Royal Orchid Hotels to open its first Ramada brand hotel in India by April.
The Government is likely to confer Navratna Status to CONCOR soon.
Hindustan Sanitaryware to foray into home interior solutions retail business.
Mahindra Holiday & Resorts to offer 1% stake to Jacob Ballas India fund through a private placement for around US$10mn.
The annual export target of US$160bn is likely to be reduced to US$150bn on account of the sharp appreciation in the rupee.
Apparel exports register a decline of 14% in 2007.
Finance Ministry is considering cutting import duties on ferro nickel from present 5% to 2%.
SUBSCRIBE TO KNOW MORE ADD ME OM YAHOO MESSENGER - sheth_jg@yahoo.com
On Wednesday, the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs5,209.90 Crore and the gross debt purchased was Rs249.10 Crore while the gross equity sold stood at Rs4,984.10 Crore and gross debt sold stood at Rs45.10 Crore. Therefore, the net investment of equity reported was Rs225.80 Crore and net debt was Rs204 Crore.
TCS beats the street with exemplory results with a 19% jump in the net profit. The company is more focussed on emerging economies and reducing the exposure to US. Growth in operating margins of IT biggies is definitely worth noting with TCS contuining the trend intiated by Infosys, offsetting the strong Rupee.
US Markets could not sustain at higher levels and continued to drift down.
Indian Markets are likely to consolidate today and Midcaps are showing signs of resistance. Reliance Power and Future Capital IPO continued to take the sheen away from the secondary markets with huge interest from retail investors oversubscribing the issues 13 and 132 times respectively
We are not cautious on Indian Markets at these levels except for volatility. We believe markets are likely to move up after a decent consolidation. But major up moves cannot be expected with global turmoil buzz doing rounds. Patience pays
ICICI Bank is expected to double on value unlocking in the next one year
Megasoft is doing exceedingly well but can be picked only from a one year
perspective
Wockhard is expected to jump soon on the demerger news.
News Snippets:
Vedanta Resources is panning to invest over US$12.5bn in metals, mining and power generation by 2012.
REL gets nod from ministry of environment and forest for a 4,000MW power project in Maharashtra.
Infosys BPO expects to close three integrated IT-BPO deals in the range of US$50-150mn each in the next 3-6 months.
Wipro denies negotiations to takeover or merge with French IT company, Cap Gemini.
Maruti to roll out its Rs10-lakh luxury passenger car, Kizashi, in 2010.
NTPC to foray into power equipment manufacturing after getting a clearance from the board for a JV with Bharat Forge.
PTC raises Rs12bn through QIP.
JSW Steel gets 8 mining concessions in north of Chile.
Apollo Tyres is planning to set-up a greenfield passenger car radial tyre facility in Hungary.
Tata Steel enters in JV with Oman-based Al Bahja group for development of Uyum limestone deposits at Salalah.
Infosys BPO to set-up a new unit for its foray in the domestic business.
M&M will invest Rs1bn to make diesel engine for Scorpio, to comply with the US emission norms.
National Fertilizers, RCF and KRIBHCO to form JV to explore the possibility of investments in nitrogenous, phosphatic and potassic sector.
Sterlite Energy is planning a pre-IPO placement of US$1bn in next couple of months.
MTNL to invest Rs15bn to expand GSM and broadband operations.
NMDC likely to get Navratna status.
Simplex Infrastructure to foray into thermal power generation through a JV.
LIC Housing Finance plans to raise Rs3-4bn by issuing fresh shares to select investors in next 3-4 months.
GHCL to expand soda ash capacity in India by 2,50,00 tpa by 2010.
Deccan plans to launch international flights from August.
Gitanjali Gems forms five wholly-owned subsidiaries for developing SEZs.
Royal Orchid Hotels to open its first Ramada brand hotel in India by April.
The Government is likely to confer Navratna Status to CONCOR soon.
Hindustan Sanitaryware to foray into home interior solutions retail business.
Mahindra Holiday & Resorts to offer 1% stake to Jacob Ballas India fund through a private placement for around US$10mn.
The annual export target of US$160bn is likely to be reduced to US$150bn on account of the sharp appreciation in the rupee.
Apparel exports register a decline of 14% in 2007.
Finance Ministry is considering cutting import duties on ferro nickel from present 5% to 2%.
SUBSCRIBE TO KNOW MORE ADD ME OM YAHOO MESSENGER - sheth_jg@yahoo.com
Friday, January 11, 2008
INFOYSYS >>>>>>>>>>
Infosys Q3 net up at Rs 1231 cr Infosys Technologies has announced its third quarter numbers. It has posted consolidated net profit of Rs 1231 crore for the quarter ended December 2007 as against Rs 1100 crore in previous quarter. Net sales went up to Rs 4,271 crore from Rs 4,106 crore QoQ. Infosys numbers are higher than guidance
Hindustan Motors (Rs.72.75) is likely to gain over the medium term on speculative news flow.
What the FIIs are doing
FIIs were net sellers of Rs2.5bn (provisional) in the cash segment on Thursday while the local institutions were net buyers of just Rs3.89bn. In the F&O segment, foreign funds were net buyers of Rs6.64bn.
On Wednesday, FIIs were net buyers of Rs2.75bn in the cash segment. Mutual Funds were net sellers of Rs2.01bn on the same day.
News Snippets:
Tata Motors launches its small car ‘Nano’ priced at Rs1 lac ex-showroom.
L&T has bagged Rs35.6bn order to construct residential and commercial buildings across the country.
Wipro Infotech wins a nine-year business transformation contract worth Rs24bn from Aircel.
Unitech gets regulatory approval to raise US$700mn through a public offer in the Singapore Stock Exchange.
SBI and ICICI Bank apply to the monetary authority of Singapore for a qualified full banking (QFB) license.
SBI Life Insurance plans to hit capital market by March 2009.
RIL reveals an extensive rig hiring plan to exploit the potential of its exploratory blocks.
GAIL signs a pact with Coal India to set-up a coal gasification project for production of a gas used to make fertilizers.
Wockhardt to mull de-merging its new drug R&D unit.
BPCL plans to raise Rs30bn through an IPO of Bharat Oman Refineries in next 3-4 months.
L&T gets Tamil Nadu Government nod to set-up an integrated shipyard.
Amtek Auto is closing to acquiring companies in US and Europe.
Bajaj Auto to invest Rs3bn to raise its holdings in KTM Power Sports to 25% from 14.5% currently.
Bharati Shipyard plans to set-up a greenfield shipyard at Usgaon near the Dabhol port.
Strides Arcolab has stopped operations of its loss-making US plant where it manufactured soft gelatin capsules.
Gati ties up with Air India to lease five cargo planes.
IRB Infrastructure Developers wins the contract to develop the fifth phase of NHDP at an estimated cost of Rs125bn.
Rolta plans to acquire a US firm offering business software services.
Granules India expects to get approval from European regulatory authorities for its new tablet facility.
Sterlite Technologies, a company promoted by Vedanta Group, may soon foray in the niche market of semiconductor manufacturing.
The DoT has issued LoIs to Unitech, Datacom, S Tel, Swan Connect Communications, Shipping Stop Dot Com, Idea, Tata Tele and Shyam Telelink.
DoT has cleared applications from Idea, Vodafone Essar and Aircel for granting 2G spectrum.
CBDT introduces new schemes to extend 100% deduction on profits derived by the activity of developing or operating an industrial park.
Indian Railways loadings register an 8% yoy growth for April-December 2007.
Hindustan Motors (Rs.72.75) is likely to gain over the medium term on speculative news flow.
What the FIIs are doing
FIIs were net sellers of Rs2.5bn (provisional) in the cash segment on Thursday while the local institutions were net buyers of just Rs3.89bn. In the F&O segment, foreign funds were net buyers of Rs6.64bn.
On Wednesday, FIIs were net buyers of Rs2.75bn in the cash segment. Mutual Funds were net sellers of Rs2.01bn on the same day.
News Snippets:
Tata Motors launches its small car ‘Nano’ priced at Rs1 lac ex-showroom.
L&T has bagged Rs35.6bn order to construct residential and commercial buildings across the country.
Wipro Infotech wins a nine-year business transformation contract worth Rs24bn from Aircel.
Unitech gets regulatory approval to raise US$700mn through a public offer in the Singapore Stock Exchange.
SBI and ICICI Bank apply to the monetary authority of Singapore for a qualified full banking (QFB) license.
SBI Life Insurance plans to hit capital market by March 2009.
RIL reveals an extensive rig hiring plan to exploit the potential of its exploratory blocks.
GAIL signs a pact with Coal India to set-up a coal gasification project for production of a gas used to make fertilizers.
Wockhardt to mull de-merging its new drug R&D unit.
BPCL plans to raise Rs30bn through an IPO of Bharat Oman Refineries in next 3-4 months.
L&T gets Tamil Nadu Government nod to set-up an integrated shipyard.
Amtek Auto is closing to acquiring companies in US and Europe.
Bajaj Auto to invest Rs3bn to raise its holdings in KTM Power Sports to 25% from 14.5% currently.
Bharati Shipyard plans to set-up a greenfield shipyard at Usgaon near the Dabhol port.
Strides Arcolab has stopped operations of its loss-making US plant where it manufactured soft gelatin capsules.
Gati ties up with Air India to lease five cargo planes.
IRB Infrastructure Developers wins the contract to develop the fifth phase of NHDP at an estimated cost of Rs125bn.
Rolta plans to acquire a US firm offering business software services.
Granules India expects to get approval from European regulatory authorities for its new tablet facility.
Sterlite Technologies, a company promoted by Vedanta Group, may soon foray in the niche market of semiconductor manufacturing.
The DoT has issued LoIs to Unitech, Datacom, S Tel, Swan Connect Communications, Shipping Stop Dot Com, Idea, Tata Tele and Shyam Telelink.
DoT has cleared applications from Idea, Vodafone Essar and Aircel for granting 2G spectrum.
CBDT introduces new schemes to extend 100% deduction on profits derived by the activity of developing or operating an industrial park.
Indian Railways loadings register an 8% yoy growth for April-December 2007.
Thursday, January 10, 2008
STILL THINKING TO SUBSCRIBE
Today, Nifty has support at 6,182 and resistance at 6,357 and BSE Sensex has support at 20,548 and resistance at 21,149.
Taking a leaf from the US markets Indian markets are likely to move up further and 21k is definitely possible. Tech stocks are looking solid and the Q3 numbers from IT companies IGATE and Mastek came out strong. We expect the IT pack to outperform the market with the second rung taking the lead. Midcaps will continue to reel underpressure for some more time thanks to the earlier Euphoria many stocks are trading way above the fundamentals. Large caps will tested for performance though intial results from companies like Axis bank looks good. We believe Large cap valuations are at par and major moves are only in case of positive surprises but liquidity is likely to drive markets crazy soon. Watch for another round of feast from midcaps in the next 10 days. Have a great trading day
Technology stocks led the rally, with the Nasdaq registering its first positive day in nine, as bargain hunters returned to a market reeling under the weight of worries with regard to a possible recession. The Dow has seen more than 500 points taken away so far this year
OUR PICKS- NTPC , IT STOCKS, NICOLASPIRMAL, HDFC, HDFCBANK, CESCMPHASIS, 3IINFO, POLARIS,RELCAPITAL AND HDIL - NIFTY TOWARDS NEW HIGH SO HOLD LONG WITH STRICT SL
What the FIIs are doing
FIIs were net sellers of Rs3.92bn (provisional) in the cash segment on Wednesday while the local institutions were net buyers of just Rs855.1mn. In the F&O segment, foreign funds were net sellers of Rs8.9bn.
On Tuesday, FIIs were net buyers of Rs10.53bn in the cash segment. Mutual Funds were net buyers of Rs125mn on the same day.
News Snippets:
Bajaj Auto is looking at acquiring a car company to break into the higher segments of the market and plans an electric car for Europe.
Goldman Sachs is in advanced talks to invest in the Mahindra group.
ICICI bank to unlock value in four of its subsidiaries and the process could begin in the next six months.
Aditya Birla Nuvo will raise Rs42bn through preferential allotment of warrants to the Kumar Mangalam family in the next 18 months.
ITC plans to launch new energy bars and breakfast cereals to extend its product profile.
UTI Mutual Fund to offer ESOPs to all its employees.
Unitech to go for US$1.5bn QIP in the next couple of months.
Tata Power and Reliance Energy are among the six short- listed companies by the Maharashtra Government for the proposed Dhopave project.
RIL and RNRL have moved the Mumbai High Court over the gas supply dispute between the two companies.
PE players JPMorgan and IDFC are eyeing a minority stake in Hyderabad-based logistics player, Seaways.
Kingfisher Airlines would be permitted to fly abroad this year.
European aerospace giant EADS is acquiring 24% stake in India Aero Ventures, promoted by ex-BPL mobile chief Rajeev Chandrashekar for Rs1.3bn.
The DoT is reconsidering the applications of six companies for telecom licenses, which it had rejected on Tuesday.
The Government assures TDSAT that enough spectrum would be available for existing as well as new players after allotting radio frequencies to RCOM.
Private cement producers in Tamil Nadu agree to set aside two million bags per month for economically weaker section and lower middle class people at a price of Rs200 per bag.
Pharma companies unlikely to get sops for R&D outfits.
Stainless steel companies have asked the Government to increase customs duty on value added stainless steel cold rolled coils to prevent China from dumping into India.
The Government may bring procurement contracts of defence ministry under tax collected at source (TCS) in this budget.
Indian Bank Association members to meet on interest rate cut.
Commerce Minister Kamal Nath says that the Government might consider importing more cement to meet the demand – supply mismatch situation
Taking a leaf from the US markets Indian markets are likely to move up further and 21k is definitely possible. Tech stocks are looking solid and the Q3 numbers from IT companies IGATE and Mastek came out strong. We expect the IT pack to outperform the market with the second rung taking the lead. Midcaps will continue to reel underpressure for some more time thanks to the earlier Euphoria many stocks are trading way above the fundamentals. Large caps will tested for performance though intial results from companies like Axis bank looks good. We believe Large cap valuations are at par and major moves are only in case of positive surprises but liquidity is likely to drive markets crazy soon. Watch for another round of feast from midcaps in the next 10 days. Have a great trading day
Technology stocks led the rally, with the Nasdaq registering its first positive day in nine, as bargain hunters returned to a market reeling under the weight of worries with regard to a possible recession. The Dow has seen more than 500 points taken away so far this year
OUR PICKS- NTPC , IT STOCKS, NICOLASPIRMAL, HDFC, HDFCBANK, CESCMPHASIS, 3IINFO, POLARIS,RELCAPITAL AND HDIL - NIFTY TOWARDS NEW HIGH SO HOLD LONG WITH STRICT SL
What the FIIs are doing
FIIs were net sellers of Rs3.92bn (provisional) in the cash segment on Wednesday while the local institutions were net buyers of just Rs855.1mn. In the F&O segment, foreign funds were net sellers of Rs8.9bn.
On Tuesday, FIIs were net buyers of Rs10.53bn in the cash segment. Mutual Funds were net buyers of Rs125mn on the same day.
News Snippets:
Bajaj Auto is looking at acquiring a car company to break into the higher segments of the market and plans an electric car for Europe.
Goldman Sachs is in advanced talks to invest in the Mahindra group.
ICICI bank to unlock value in four of its subsidiaries and the process could begin in the next six months.
Aditya Birla Nuvo will raise Rs42bn through preferential allotment of warrants to the Kumar Mangalam family in the next 18 months.
ITC plans to launch new energy bars and breakfast cereals to extend its product profile.
UTI Mutual Fund to offer ESOPs to all its employees.
Unitech to go for US$1.5bn QIP in the next couple of months.
Tata Power and Reliance Energy are among the six short- listed companies by the Maharashtra Government for the proposed Dhopave project.
RIL and RNRL have moved the Mumbai High Court over the gas supply dispute between the two companies.
PE players JPMorgan and IDFC are eyeing a minority stake in Hyderabad-based logistics player, Seaways.
Kingfisher Airlines would be permitted to fly abroad this year.
European aerospace giant EADS is acquiring 24% stake in India Aero Ventures, promoted by ex-BPL mobile chief Rajeev Chandrashekar for Rs1.3bn.
The DoT is reconsidering the applications of six companies for telecom licenses, which it had rejected on Tuesday.
The Government assures TDSAT that enough spectrum would be available for existing as well as new players after allotting radio frequencies to RCOM.
Private cement producers in Tamil Nadu agree to set aside two million bags per month for economically weaker section and lower middle class people at a price of Rs200 per bag.
Pharma companies unlikely to get sops for R&D outfits.
Stainless steel companies have asked the Government to increase customs duty on value added stainless steel cold rolled coils to prevent China from dumping into India.
The Government may bring procurement contracts of defence ministry under tax collected at source (TCS) in this budget.
Indian Bank Association members to meet on interest rate cut.
Commerce Minister Kamal Nath says that the Government might consider importing more cement to meet the demand – supply mismatch situation
Wednesday, January 9, 2008
Tech Mahindra(Rs.1,103.35) Q3 is expected to beat market expectations.
BUY INFOYSY TILL RESULT target 1800+
IT stocks were in the limelight ahead of Infosys result on January 11
Today, Nifty has support at 6,162 and resistance at 6,348 and BSE Sensex has support at 20,523 and resistance at 21,091.
What the FIIs are doing
FIIs were net buyers of Rs5.71bn (provisional) in the cash segment on Tuesday while the local institutions were net buyers of just Rs920.8mn. In the F&O segment, foreign funds were net sellers of Rs1.48bn.
On Monday, FIIs were net sellers of Rs809mn in the cash segment. Mutual Funds were net buyers of Rs300mn on the same day.
Metal stocks could be under some pressure amid reports that the Government is considering sifting to an Ad Valorem rates of royalty on all sorts of ores. Unitech, HFCL, BPL, RCOM, Idea and Shyam Tele could gain as a financial daily says that these companies will get LoIs from the DoT soon. What they will do with it remains to be seen. 3i Infotech, Aztecsoft and MindTree will attract attention amid reports of some M&A action. TVS Motor might gain as the Supreme Court has refused to stay the sales of its 125 cc bike, the Flame
News Snippets:
Bajaj Auto unveils the prototype of its small car; company to roll out its LCV by 2009.
Power Grid Corp plans to enter entertainment and telecom business.
Maruti Suzuki India has ruled out any possibilities of price cut for Maruti 800.
DoT is set to issue Letter of Intent to new players; Unitech, HFCL, Sterlite amongst those likely to get LoIs. (FE)
ABG Shipyard is raising Rs8bn through QIP to double capacity at its Surat facility.
Reliance Industries is to invest Rs200bn to develop KG basin.
ONGC looking for an alliance with overseas players to bid for blocks offered under NELP VII round.
BHEL in tie up talks with overseas shipyards for building offshore rigs.
Aditya Birla Nuvo will consider raising fund through preferential allotment to promoters and promoters group.
Vedanta Resources plans to invest Rs500bn over next few years in metals, mining and power generation.
NDTV may sell 25-30% in its UK based to NBC Universal; deal valued at Rs6.5-8bn.
ICICI Bank and SBI have together acquired 3% in Jaiprakash Power Venture, subsidiary of Jaiprakash Associates.
Adani Enterprises plans to raise Rs30bn through the QIP route in first quarter of current year.
Ford India is expanding its manufacturing capabilities to make a small car for India.
Bartronics India raises US$50mn via FCCB issue.
Omaxe is in talks with Starwood Hotels & Resorts of US; to invest Rs20bn in hotel projects.
L&T may stop production of 3-4 products due to cheaper imports from China.
SBI picks up 2% stake in Mahindra Holidays and Resorts for Rs800mn in an pre-IPO placement.
Planning Commission recommends state government should grant more licenses for distilleries, imported and country liquor and breweries.
The government is considering to raise price of petrol and diesel by Rs2 and Rs1 per liter respectively.
Passenger vehicle sales grew 8% in December as compared to last year.
Farm sector NPAs could get budget relief.
The Slum Rehabilitation Authority to call for financial bids for the Rs93.5bn Dharavi Redevelopment Project.
Government has issued notification that effectively allows only sugar mills to produce ethanol from sugarcane.
PM acknowledges rising interest rates and appreciating rupee have caused economic slowdown and job losses; constitutes group to suggest revival.
Sluggish performance by crude oil sector leads to decline in core sector growth to 5.3% in November.
Sugar production for 2007-08 seen below projected levels due to delays in crushing and lower yields.
The Board of Approvals of the union commerce department ha cancelled the ‘in-principal SEZ’ status granted to the New Kolkata International Development, the SPV formed by Indonesia’s Salim group.
IT stocks were in the limelight ahead of Infosys result on January 11
Today, Nifty has support at 6,162 and resistance at 6,348 and BSE Sensex has support at 20,523 and resistance at 21,091.
What the FIIs are doing
FIIs were net buyers of Rs5.71bn (provisional) in the cash segment on Tuesday while the local institutions were net buyers of just Rs920.8mn. In the F&O segment, foreign funds were net sellers of Rs1.48bn.
On Monday, FIIs were net sellers of Rs809mn in the cash segment. Mutual Funds were net buyers of Rs300mn on the same day.
Metal stocks could be under some pressure amid reports that the Government is considering sifting to an Ad Valorem rates of royalty on all sorts of ores. Unitech, HFCL, BPL, RCOM, Idea and Shyam Tele could gain as a financial daily says that these companies will get LoIs from the DoT soon. What they will do with it remains to be seen. 3i Infotech, Aztecsoft and MindTree will attract attention amid reports of some M&A action. TVS Motor might gain as the Supreme Court has refused to stay the sales of its 125 cc bike, the Flame
News Snippets:
Bajaj Auto unveils the prototype of its small car; company to roll out its LCV by 2009.
Power Grid Corp plans to enter entertainment and telecom business.
Maruti Suzuki India has ruled out any possibilities of price cut for Maruti 800.
DoT is set to issue Letter of Intent to new players; Unitech, HFCL, Sterlite amongst those likely to get LoIs. (FE)
ABG Shipyard is raising Rs8bn through QIP to double capacity at its Surat facility.
Reliance Industries is to invest Rs200bn to develop KG basin.
ONGC looking for an alliance with overseas players to bid for blocks offered under NELP VII round.
BHEL in tie up talks with overseas shipyards for building offshore rigs.
Aditya Birla Nuvo will consider raising fund through preferential allotment to promoters and promoters group.
Vedanta Resources plans to invest Rs500bn over next few years in metals, mining and power generation.
NDTV may sell 25-30% in its UK based to NBC Universal; deal valued at Rs6.5-8bn.
ICICI Bank and SBI have together acquired 3% in Jaiprakash Power Venture, subsidiary of Jaiprakash Associates.
Adani Enterprises plans to raise Rs30bn through the QIP route in first quarter of current year.
Ford India is expanding its manufacturing capabilities to make a small car for India.
Bartronics India raises US$50mn via FCCB issue.
Omaxe is in talks with Starwood Hotels & Resorts of US; to invest Rs20bn in hotel projects.
L&T may stop production of 3-4 products due to cheaper imports from China.
SBI picks up 2% stake in Mahindra Holidays and Resorts for Rs800mn in an pre-IPO placement.
Planning Commission recommends state government should grant more licenses for distilleries, imported and country liquor and breweries.
The government is considering to raise price of petrol and diesel by Rs2 and Rs1 per liter respectively.
Passenger vehicle sales grew 8% in December as compared to last year.
Farm sector NPAs could get budget relief.
The Slum Rehabilitation Authority to call for financial bids for the Rs93.5bn Dharavi Redevelopment Project.
Government has issued notification that effectively allows only sugar mills to produce ethanol from sugarcane.
PM acknowledges rising interest rates and appreciating rupee have caused economic slowdown and job losses; constitutes group to suggest revival.
Sluggish performance by crude oil sector leads to decline in core sector growth to 5.3% in November.
Sugar production for 2007-08 seen below projected levels due to delays in crushing and lower yields.
The Board of Approvals of the union commerce department ha cancelled the ‘in-principal SEZ’ status granted to the New Kolkata International Development, the SPV formed by Indonesia’s Salim group.
Tuesday, January 8, 2008
JOIN TO KNOW MORE
OUT BTST - RCOM ,ICICI ,SIEMENS ,STERLITE ,GITANJALI
TODAY PICKS - KEI INDUSTRIES,KS OIL,JAYANT AGRO ,IT STOCKs
Today, Nifty has support at 6,213 and resistance at 6,374 and BSE Sensex has support at 20,634 and resistance at 21,102
On Monday the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs4,549.40 Crore and the gross debt purchased was Rs730.80 Crore while the gross equity sold stood at Rs4,040.60 Crore and gross debt sold stood at Rs209.80Crore. Therefore, the net investment of equity reported was Rs508.80 Crore and net debt was Rs521Crore
Results Today: Kopran, Patel Engineering, Prism Cement, Shree Cement, Supreme Industries and TVS Electronics. Shares of Refex Refrigerants might gain as the company has reported a 53% growth in topline and 47% in the bottomline for the quarter ended December.
News Snippets:
ICICI Bank and ADAG Group are planning to set up syndicates in London’s Lloyd’s Market, one of the larges reinsurance markets in the world.
The Power Ministry has asked Reliance Power to advance commissioning of units at Sasan UMPP.
Pantaloon Retail is planning to increase Future Money outlets from 95 to 400 by 2010
ICICI Bank is planning to list its investment banking and broking subsidiary, ICICI Securities.
The Government’s move to allow GAIL to market entire PMT gas has impacted gas supplies to GSPC and Gujarat Gas.
Reliance Energy and GMR are the only Indian companies short listed for buying US$2bn Tuas Power owned by Temasek.
ADAG is to tie up with US lignite miner, North American Coal Corporation to ensure fuel supply to its 28,200 MW projects.
Gitanjali Gems has purchased ‘Nakshatra’ brand from Diamond Trading Company for Rs1bn.
Nitco Tiles is planning to set up a new tile manufacturing unit in Gujarat.
The proposal of merger of State Bank of Saurashtra with the State Bank of India will be taken up by the Cabinet on January 10.
Fortis Financial Services is planning to make an application to RBI to surrender its NBFC licence.
Sical Logistics has received Madras High Court approval to demerge its non-logistics business into a separate subsidiary.
GNFC plans to invest Rs780mn for setting up six eco-friendly wind power generators.
RNRL may buy out some mines in Indonesia and Australia for dedicated fuel supplies to support the Krishnapatnam UMPP.
Cranes Software has announced the acquisition of US based specialized auto consulting and product development firm, Engineering Technology Associates.
States have arrived at a consensus to bring about uniform duty structure for liquor across the country.
The Finance Ministry is understood to have allocated Rs310bn for fertilizer subsidies and concessions during FY09.
Cement manufacturers in Tamil Nadu have agreed to take a decision on reducing prices before February 10.
FDI inflows into the country surged to US$15.7bn in FY07 and the target for FY08 is US$30bn.
The Empowered Group of Ministers will meet on January 17, to discuss fuel price hike.
ULCRA would be completely scrapped in the country as AP, West Bengal and Jharkhand agree to repeal the act.
The Government has denied plans to privatize Dabhol project.
The Government would consider tax sops to promote low cost housing in the country.
The Maharashtra Government has agreed to withdraw export duty on ethanol.
Newsprint prices may increase by ~20% yoy in FY08.
The Government is set to import 1.2mn tons of vegetable oils in the first quarter of 2008.
TODAY PICKS - KEI INDUSTRIES,KS OIL,JAYANT AGRO ,IT STOCKs
Today, Nifty has support at 6,213 and resistance at 6,374 and BSE Sensex has support at 20,634 and resistance at 21,102
On Monday the FIIs stood as net buyer both in equity and debt. The gross equity purchased was Rs4,549.40 Crore and the gross debt purchased was Rs730.80 Crore while the gross equity sold stood at Rs4,040.60 Crore and gross debt sold stood at Rs209.80Crore. Therefore, the net investment of equity reported was Rs508.80 Crore and net debt was Rs521Crore
Results Today: Kopran, Patel Engineering, Prism Cement, Shree Cement, Supreme Industries and TVS Electronics. Shares of Refex Refrigerants might gain as the company has reported a 53% growth in topline and 47% in the bottomline for the quarter ended December.
News Snippets:
ICICI Bank and ADAG Group are planning to set up syndicates in London’s Lloyd’s Market, one of the larges reinsurance markets in the world.
The Power Ministry has asked Reliance Power to advance commissioning of units at Sasan UMPP.
Pantaloon Retail is planning to increase Future Money outlets from 95 to 400 by 2010
ICICI Bank is planning to list its investment banking and broking subsidiary, ICICI Securities.
The Government’s move to allow GAIL to market entire PMT gas has impacted gas supplies to GSPC and Gujarat Gas.
Reliance Energy and GMR are the only Indian companies short listed for buying US$2bn Tuas Power owned by Temasek.
ADAG is to tie up with US lignite miner, North American Coal Corporation to ensure fuel supply to its 28,200 MW projects.
Gitanjali Gems has purchased ‘Nakshatra’ brand from Diamond Trading Company for Rs1bn.
Nitco Tiles is planning to set up a new tile manufacturing unit in Gujarat.
The proposal of merger of State Bank of Saurashtra with the State Bank of India will be taken up by the Cabinet on January 10.
Fortis Financial Services is planning to make an application to RBI to surrender its NBFC licence.
Sical Logistics has received Madras High Court approval to demerge its non-logistics business into a separate subsidiary.
GNFC plans to invest Rs780mn for setting up six eco-friendly wind power generators.
RNRL may buy out some mines in Indonesia and Australia for dedicated fuel supplies to support the Krishnapatnam UMPP.
Cranes Software has announced the acquisition of US based specialized auto consulting and product development firm, Engineering Technology Associates.
States have arrived at a consensus to bring about uniform duty structure for liquor across the country.
The Finance Ministry is understood to have allocated Rs310bn for fertilizer subsidies and concessions during FY09.
Cement manufacturers in Tamil Nadu have agreed to take a decision on reducing prices before February 10.
FDI inflows into the country surged to US$15.7bn in FY07 and the target for FY08 is US$30bn.
The Empowered Group of Ministers will meet on January 17, to discuss fuel price hike.
ULCRA would be completely scrapped in the country as AP, West Bengal and Jharkhand agree to repeal the act.
The Government has denied plans to privatize Dabhol project.
The Government would consider tax sops to promote low cost housing in the country.
The Maharashtra Government has agreed to withdraw export duty on ethanol.
Newsprint prices may increase by ~20% yoy in FY08.
The Government is set to import 1.2mn tons of vegetable oils in the first quarter of 2008.
Monday, January 7, 2008
BUY IT SECTOR IN DIPS
NIFTY - Moving Averages — The 50 dma = 5870, 20 dma = 6021 and 10 dma = 6089. The index is trading above its averages; declines during the week should find support around the averages
Resistance — The index faces resistance around 6300 levels.
Conclusion — Intra-week declines should find support around 6185-6089 band
Business Standard reports that 4 big banks State Bank of India (SBI), ICICI Bank, Bank of Baroda (BoB) and Bank of India (BoI) are set to book mark-to-market losses on the exposures to CDO's with ICICI being the major loser with $1.5 billion exposure to subprime. We have to wait for confirmation as ICICI Bank denied the same last time on simillar reports. Tata Motors will be rolling out the much hyped one lakh car and the stock is likely to show action. Traders stay away from this market as volatility will squeeze your pockets
Gammon India(Rs.777.05) is looking great for 4 figures
HOT PICKS - ELDECO HOUSING,SATHAVAHANA ISPAT,HINDMOTORS
What the FIIs are doing
FIIs were net buyers of Rs160.1mn (provisional) in the cash segment on Friday while the local institutions pumped in Rs5.07bn. In the F&O segment, foreign funds were net sellers of Rs9.08bn.
On Thursday, FIIs were net buyers of Rs7.25bn in the cash segment. Mutual Funds were also net buyers of Rs4.9bn on the same day.
News Snippets:
Jet Airways to go for a private placement or QIP to dilute promoters stake by 5%.
M&M may pull out of the Rs40bn three way Chennai joint venture with Renault and Nissan.
Chrysler has initiated negotiations with M&M for a partnership in India.
ONGC seeks Rs160bn worth of incentives for its proposed 15mn ton pa refinery at Kakinada.
London based Caparo group to invest Rs35bn to set up an automotive and aerospace components park in Andhra Pradesh.
SBI, ICICI Bank, Bank of Baroda and Bank of India to book mark-to-market losses on the exposures of their foreign offices to credit derivatives.
Reliance Industries seeks a minimum supply of 3.6mn scmd of gas for its petrochemical plants from Panna-Mukta and Tapti fields.
BSNL to form a separate tower company early this year; may lease out 40,000 towers to private companies.
ADAG plans to bring all its proposed overseas power generation projects under Reliance Power; group evaluates options to make power equipment.
SAIL scouting for new iron ore mines; applies for prospecting and mining leases.
BHEL plans to boost exports six-fold by 2012.
Gitanjali Gems on look out for more buy outs in US, the largest jewellery market in the world.
Reliance Power may invest in Ratnagiri Gas and Power if private companies allowed in the erstwhile Dabhol project.
Indian Oil’s 330km Paradip-Haldia crude oil pipeline to go on stream in six weeks.
Reliance Industries may offer rigs to ONGC in two or three locations in 2008-09 on a sharing basis.
Gujarat Fluorochemicals will sell half the poly tetra fluoro ethane (PTFE) output of its Dahej plant to an European collaborator.
HPCL has raised Rs2.9bn from sale of oil bonds.
PE firm General Atlantic may buy 10% stake in Essar Power.
PE firm would pick up 15% equity stake in Mahindra Forgings.
PFC plans SPV to offer consultancy services across various sectors.
Canara Bank may acquire a bank this year.
DoT doubts Spice Telecom’s eligibility for licenses in 20 circles on lack of the required net worth.
Indian Railways hikes iron ore freight, less than two months prior to railway budget.
Inflation rises to 3.5% for week ended December 22nd, as vegetables become costlier.
Ethanol may get ‘declared goods’ status in Budget.
Fuel prices may rise after January 17th when PM’s ministerial panel on commodity prices meets to approve the hikes.
Government expects investments worth Rs2tn in the aviation sector in the next 10 years.
Government plans to set up a national electricity fund with a corpus of Rs1tn for investment in the transmission and distribution sector.
Government to earn Rs70bn from spectrum fee in 2008-09, without impacting tariffs.
Himachal Pradesh Government invites bids from domestic and global companies for 1,481MW hydel units.
Finance Minister asks public sector banks to cut deposit & lending rates by 50bps.
Resistance — The index faces resistance around 6300 levels.
Conclusion — Intra-week declines should find support around 6185-6089 band
Business Standard reports that 4 big banks State Bank of India (SBI), ICICI Bank, Bank of Baroda (BoB) and Bank of India (BoI) are set to book mark-to-market losses on the exposures to CDO's with ICICI being the major loser with $1.5 billion exposure to subprime. We have to wait for confirmation as ICICI Bank denied the same last time on simillar reports. Tata Motors will be rolling out the much hyped one lakh car and the stock is likely to show action. Traders stay away from this market as volatility will squeeze your pockets
Gammon India(Rs.777.05) is looking great for 4 figures
HOT PICKS - ELDECO HOUSING,SATHAVAHANA ISPAT,HINDMOTORS
What the FIIs are doing
FIIs were net buyers of Rs160.1mn (provisional) in the cash segment on Friday while the local institutions pumped in Rs5.07bn. In the F&O segment, foreign funds were net sellers of Rs9.08bn.
On Thursday, FIIs were net buyers of Rs7.25bn in the cash segment. Mutual Funds were also net buyers of Rs4.9bn on the same day.
News Snippets:
Jet Airways to go for a private placement or QIP to dilute promoters stake by 5%.
M&M may pull out of the Rs40bn three way Chennai joint venture with Renault and Nissan.
Chrysler has initiated negotiations with M&M for a partnership in India.
ONGC seeks Rs160bn worth of incentives for its proposed 15mn ton pa refinery at Kakinada.
London based Caparo group to invest Rs35bn to set up an automotive and aerospace components park in Andhra Pradesh.
SBI, ICICI Bank, Bank of Baroda and Bank of India to book mark-to-market losses on the exposures of their foreign offices to credit derivatives.
Reliance Industries seeks a minimum supply of 3.6mn scmd of gas for its petrochemical plants from Panna-Mukta and Tapti fields.
BSNL to form a separate tower company early this year; may lease out 40,000 towers to private companies.
ADAG plans to bring all its proposed overseas power generation projects under Reliance Power; group evaluates options to make power equipment.
SAIL scouting for new iron ore mines; applies for prospecting and mining leases.
BHEL plans to boost exports six-fold by 2012.
Gitanjali Gems on look out for more buy outs in US, the largest jewellery market in the world.
Reliance Power may invest in Ratnagiri Gas and Power if private companies allowed in the erstwhile Dabhol project.
Indian Oil’s 330km Paradip-Haldia crude oil pipeline to go on stream in six weeks.
Reliance Industries may offer rigs to ONGC in two or three locations in 2008-09 on a sharing basis.
Gujarat Fluorochemicals will sell half the poly tetra fluoro ethane (PTFE) output of its Dahej plant to an European collaborator.
HPCL has raised Rs2.9bn from sale of oil bonds.
PE firm General Atlantic may buy 10% stake in Essar Power.
PE firm would pick up 15% equity stake in Mahindra Forgings.
PFC plans SPV to offer consultancy services across various sectors.
Canara Bank may acquire a bank this year.
DoT doubts Spice Telecom’s eligibility for licenses in 20 circles on lack of the required net worth.
Indian Railways hikes iron ore freight, less than two months prior to railway budget.
Inflation rises to 3.5% for week ended December 22nd, as vegetables become costlier.
Ethanol may get ‘declared goods’ status in Budget.
Fuel prices may rise after January 17th when PM’s ministerial panel on commodity prices meets to approve the hikes.
Government expects investments worth Rs2tn in the aviation sector in the next 10 years.
Government plans to set up a national electricity fund with a corpus of Rs1tn for investment in the transmission and distribution sector.
Government to earn Rs70bn from spectrum fee in 2008-09, without impacting tariffs.
Himachal Pradesh Government invites bids from domestic and global companies for 1,481MW hydel units.
Finance Minister asks public sector banks to cut deposit & lending rates by 50bps.
Friday, January 4, 2008
OUR PICKS
GMR Infra
GMR Infra consolidated in a range of 235-
252 levels last week.The 14-day RSI
indicates the stock might witness an
upside breakout of the range in the
coming sessions which will attract fresh
buyers. The stock is likely to face immediate
resistance at around 270 levels. If it is able
to sustain above that levels, we might see
it testing higher levels of 298-300 in a medium-term
scenario. The 50-day EMA level is placed at around 225
levels which is unlikely to be pierced in the coming sessions.
The 21-day EMA level is placed at around 240 levels while
the 8-day EMA level is placed at around 243 levels.
Investors are advised to accumulate the stock in the range
of 245-250 levels for a short term target of 298-300. All
long positions in the stock should be protected with a
stop loss placed below 225 levels on a closing basis.
Tata Steel
Tata Steel has been trading firm for the last few trading sessions, and
closed at all time high levels of 932 levels. Futures have seen rollover
of long positions close to 95 percent. Call options of 940, 960 strikes
have seen addition of open interest, indicates expectations of further
upward movement and in put options 920 and 900 strikes added open
interest indicating the expectations of a limited downside in the stock
price. The following strategy is recommended on Tata Steel
GMR Infra consolidated in a range of 235-
252 levels last week.The 14-day RSI
indicates the stock might witness an
upside breakout of the range in the
coming sessions which will attract fresh
buyers. The stock is likely to face immediate
resistance at around 270 levels. If it is able
to sustain above that levels, we might see
it testing higher levels of 298-300 in a medium-term
scenario. The 50-day EMA level is placed at around 225
levels which is unlikely to be pierced in the coming sessions.
The 21-day EMA level is placed at around 240 levels while
the 8-day EMA level is placed at around 243 levels.
Investors are advised to accumulate the stock in the range
of 245-250 levels for a short term target of 298-300. All
long positions in the stock should be protected with a
stop loss placed below 225 levels on a closing basis.
Tata Steel
Tata Steel has been trading firm for the last few trading sessions, and
closed at all time high levels of 932 levels. Futures have seen rollover
of long positions close to 95 percent. Call options of 940, 960 strikes
have seen addition of open interest, indicates expectations of further
upward movement and in put options 920 and 900 strikes added open
interest indicating the expectations of a limited downside in the stock
price. The following strategy is recommended on Tata Steel
Market will See - JOIN TO KNOW MORE
Trading around 6185 — The index is trading around 6185 levels (high of 13 December 2007), a close above the 6185 level will see index exhibit further strength.Intra day index has support around 6126-6100 levels, intra day declines
should find support around these levels. On the upside resistance levels are 6230- 6270. Intra-day strength can be expected on index sustaining above 6185 levels.
Power stocks glittered on dalal street yesterday with majority of the scrips registering thumping gains across the board. The leaders include NTPC, Reliance Energy,Tata Power and midcaps like Indowind Energy and Torrent Power gained considerable with the latter locked at 20% upper circuit limit. Chennai based BGR Energy flared up nearly 88% from the IPO price while another IPO Burnpur Cement ended the day with a 315% gain to the IPO price. Midcaps continued the upside journey though the markets showed hightened volatility which is expected to further increase in the coming days. Time to take positions in the IT pack with the results round the corner.
Bullish & Bottom fishing counters
Powergrid, AartiDrugs, Concor, HPCL, Jpassociat, RPL, KNL, Selan,
Apil, GMRInfra, HeroHonda, Tatapower, HLL, Ashokley, RIL
Great Offshore(Rs.1,020.20) is undervalued compared to peers. Watch for good rise from these levels.
Short Term Trading Calls
Buy Petronet LNG with stop loss of Rs 110 for a target of Rs 146.
Buy Power Grid Corporation with a stop loss of Rs 140 for short-term target of Rs 170
Buy Neyveli Lignite with stop loss of Rs 240 for a target of Rs 325.
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
FOR OUR SUBSCRIBER'S ONLY
should find support around these levels. On the upside resistance levels are 6230- 6270. Intra-day strength can be expected on index sustaining above 6185 levels.
Power stocks glittered on dalal street yesterday with majority of the scrips registering thumping gains across the board. The leaders include NTPC, Reliance Energy,Tata Power and midcaps like Indowind Energy and Torrent Power gained considerable with the latter locked at 20% upper circuit limit. Chennai based BGR Energy flared up nearly 88% from the IPO price while another IPO Burnpur Cement ended the day with a 315% gain to the IPO price. Midcaps continued the upside journey though the markets showed hightened volatility which is expected to further increase in the coming days. Time to take positions in the IT pack with the results round the corner.
Bullish & Bottom fishing counters
Powergrid, AartiDrugs, Concor, HPCL, Jpassociat, RPL, KNL, Selan,
Apil, GMRInfra, HeroHonda, Tatapower, HLL, Ashokley, RIL
Great Offshore(Rs.1,020.20) is undervalued compared to peers. Watch for good rise from these levels.
Short Term Trading Calls
Buy Petronet LNG with stop loss of Rs 110 for a target of Rs 146.
Buy Power Grid Corporation with a stop loss of Rs 140 for short-term target of Rs 170
Buy Neyveli Lignite with stop loss of Rs 240 for a target of Rs 325.
LOTS OF OTHER INTRADAY,BTST,INVESTMENT CALLS
FOR OUR SUBSCRIBER'S ONLY
Thursday, January 3, 2008
Buying in Infosys is the best bet
The FIIs on Wednesday stood as net buyer in equity while net seller in debt. The gross equity purchased was Rs1,437.60 Crore while the gross equity sold stood at Rs1,295.30 Crore and gross debt sold stood at Rs3 Crore. Therefore, the net investment of equity reported was Rs142.30 Crore and net debt was (Rs3Crore).
Today, Nifty has support at 6,052 and resistance at 6,261 and BSE Sensex has support at 20,074 and resistance at 20,719.
Nelco(Rs.167.15) bagged new orders. Definitely a cheap stock in this overvalued midcap market.
Ahluwalia Contracts India Ltd ( 338.15 )Looks hot for buying
News Snippets:
The Government is considering a hike of Rs4 and Rs2 per litre for petrol and diesel respectively in February.
MTNL is likely to get pan-India mobile license.
LN Mittal in talks with HPCL to make joint bids for offshore oil & gas blocks.
Future Capital fixes its IPO price band at Rs700-765 for its IPO.
RIL and ONGC to face competition from LN Mittal for NELP blocks.
ONGC revives Kakinada refinery after shelving it in 2006.
Bharti Airtel cut its local call rates to a flat Re1 per minute.
Retail investors may get an option of paying 25% at application stage in Reliance Power IPO.
Auto companies report low sales in December
Rotterdam Port in talks with L&T for investing in a Greenfield project in India.
The JV between Verizon and Videocon to start offering internet services; awaits security clearance.
Nuclear Power Corporation may team up with BHEL to build turbines.
ONGC to pay subsidy of Rs170bn in FY08.
Tata group plans to transfer Tata Powers’ strategic electronic division (SED) to Nelco.
Oil PSUs to buy 10% stake in Oil India (OIL) at issue price
Essar led consortium likely to bag Ratna and R-series oilfields.
ONGC and Hinduja plan to invest US$10bn for developing oil and gas fields in Iran.
Petronet’s upcoming LNG terminal in Kochi will be delayed, to be ready by 2011.
Oil PSUs plan to open 3,000 outlets this year.
Abu Dhabi awards US$460mn contract to Japan’s Sumitomo, Germany’s Salzitter and Jindal Saw of India.
UB to seek out a JV partner to grow its Rs15bn business.
Religare to sell stake in its NBFC arm, Religare Finvest to Societe Generale, Goldman Sachs, Blue River Capital and a couple of other PE funds.
Ashok Leyland develops multi point fuel injection engines for CNG carriers.
Parsvnath gets a go ahead from Haryana Government for its IT Park.
Sebi has ruled out flexibility for PSUs in complying with Clause 49.
Broadcasters to receive duty cuts in line with IT and telecom sectors.
Tamil Nadu to nationalize cement plants if companies don’t cut prices.
The Government says Goa's decision on seeking de-notification of three SEZs legally untenable.
The Government plans to bear 80% of the cost of generating solar power.
Singapore Exchange plans launch of BSE products.
The Government may revive ailing fertilizer firms.
The Government may clear civil aviation policy today.
The Government allows 28 new SEZ approvals, including SAIL's Salem SEZ in Tamil Nadu.
Today, Nifty has support at 6,052 and resistance at 6,261 and BSE Sensex has support at 20,074 and resistance at 20,719.
Nelco(Rs.167.15) bagged new orders. Definitely a cheap stock in this overvalued midcap market.
Ahluwalia Contracts India Ltd ( 338.15 )Looks hot for buying
News Snippets:
The Government is considering a hike of Rs4 and Rs2 per litre for petrol and diesel respectively in February.
MTNL is likely to get pan-India mobile license.
LN Mittal in talks with HPCL to make joint bids for offshore oil & gas blocks.
Future Capital fixes its IPO price band at Rs700-765 for its IPO.
RIL and ONGC to face competition from LN Mittal for NELP blocks.
ONGC revives Kakinada refinery after shelving it in 2006.
Bharti Airtel cut its local call rates to a flat Re1 per minute.
Retail investors may get an option of paying 25% at application stage in Reliance Power IPO.
Auto companies report low sales in December
Rotterdam Port in talks with L&T for investing in a Greenfield project in India.
The JV between Verizon and Videocon to start offering internet services; awaits security clearance.
Nuclear Power Corporation may team up with BHEL to build turbines.
ONGC to pay subsidy of Rs170bn in FY08.
Tata group plans to transfer Tata Powers’ strategic electronic division (SED) to Nelco.
Oil PSUs to buy 10% stake in Oil India (OIL) at issue price
Essar led consortium likely to bag Ratna and R-series oilfields.
ONGC and Hinduja plan to invest US$10bn for developing oil and gas fields in Iran.
Petronet’s upcoming LNG terminal in Kochi will be delayed, to be ready by 2011.
Oil PSUs plan to open 3,000 outlets this year.
Abu Dhabi awards US$460mn contract to Japan’s Sumitomo, Germany’s Salzitter and Jindal Saw of India.
UB to seek out a JV partner to grow its Rs15bn business.
Religare to sell stake in its NBFC arm, Religare Finvest to Societe Generale, Goldman Sachs, Blue River Capital and a couple of other PE funds.
Ashok Leyland develops multi point fuel injection engines for CNG carriers.
Parsvnath gets a go ahead from Haryana Government for its IT Park.
Sebi has ruled out flexibility for PSUs in complying with Clause 49.
Broadcasters to receive duty cuts in line with IT and telecom sectors.
Tamil Nadu to nationalize cement plants if companies don’t cut prices.
The Government says Goa's decision on seeking de-notification of three SEZs legally untenable.
The Government plans to bear 80% of the cost of generating solar power.
Singapore Exchange plans launch of BSE products.
The Government may revive ailing fertilizer firms.
The Government may clear civil aviation policy today.
The Government allows 28 new SEZ approvals, including SAIL's Salem SEZ in Tamil Nadu.
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