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.