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Today, Watch Explosion in
TATA SPONGE
Ask Why ?
Today, Just Saw it's LATEST RESULT
in BSE India, And After that SOLUTE US
Can't Write More ??
Buy Around, 295 to 296 target for clients
Scrap of import duty on zinc is perceived as negative for Hindustan Zinc, the only integrated zinc producer in the country.
Today's Pick - Hindustan Zinc
We recommend a sell in Hindustan Zinc from a short-term perspective. It is visible from the charts of Hindustan Zinc that it has been on a long-term downtrend, since its 52-week high of Rs 969 marked in October 2007. However, in early April 2008, the stock found support at around Rs 500 level and then it went through a short-term corrective rally. We see that the stock’s corrective rally has encountered twin resistance at around Rs 690 levels (a key resistance as wel l as the long-term down trendline that coincides around this level) on April 29 and reversed direction, forming a bearish engulfing pattern near the resistance level. The daily momentum indicator has begun to decline after touching the overbought territory in recent times. Moreover, the long-term down trendline of the stock is still in place. We are bearish on the stock in the short-term. We expect the stock’s long-term downtrend to prolong to our target price level of Rs 580 in the upcoming trading sessions. Investor with short-term perspective can sell the stock while keeping the stop-loss at Rs 708 level.
We expect Realty to continue its uptrend as they corrected a lot this year. We see other realty stocks like Parsvnath, Gammon, IVRCL and GMR to join the bandwagon soon
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
Wednesday, April 30, 2008
Tuesday, April 29, 2008
Outcome of RBI policy review to set direction
Stock market positive but be careful after......??
Telecom stocks may see action
Reliance Communications said on Monday, 28 April 2008 it would offer unlimited national long distance calls within its network for a fixed rental with immediate effect. Earlier yesterday, sector leader Bharti Airtel slashed long distance and roaming tariffs by 43% effective 30 April 2008.
Dwarikesh Sugar, Kernex Microsystems and Logix Microsystems will be placed in the Trade-to-Trade segment from 5 May 2008.
Indian Oil Corporation is planning to raise Rs 80,000 crore to reportedly fund a major acquisition in the exploration and production (E&P) sector.
Reliance Energy has changed its name to Reliance Infrastructure effective 28 April 2008.
Net profit of Hindustan Unilever declined 3.04% to Rs 380.95 crore on 19.14% rise in sales to Rs 3793.94 crore in Q1 March 2008 Q1 March 2007. The board of the company has approved to change the financial year to April-March; annual accounts this year will be for 15 months ended March.
Net profit of State Trading Corporation of India rose 125.04% to Rs 44.67 crore on 14.28% rise in sales to Rs 4255.98 crore in Q4 March 2008 over Q4 March 2007.
Titagarh Wagons reported net profit of Rs 60.57 crore in the year ended March 2008. Sales reported to Rs 559.64 crore in the year ended March 2008.
Net profit of Finolex Cables rose 13.14% to Rs 9.99 crore on 44.83% increase in sales to Rs 423.21 crore in Q4 March 2008 Q4 March 2007.
Net profit of Celestial Labs rose 222.78% to Rs 2.55 crore on 56.33% rise in sales to Rs 4.94 crore in Q4 March 2008 Q4 March 2007.
The outcome of the decision of the Reserve Bank of India (RBI)’s annual policy review at 12:00 IST will set direction for the bourses which have witnessed a solid rebound over the past few days on the back of good Q4 March 2008 results and on the back of firm global markets. Given the high inflation, the central bank may hike key rates.
It its latest report on macroeconomic and monetary developments in 2007/08 released on Monday, 28 April 2008, RBI has said that the global food prices were likely to remain firm as supply side pressures did not appear to be abating. The central bank said steps takes by the government to rein in prices should help curb inflation. It, however, said the inflation risks on account of oil prices remain incipient.
RBI has noted that freely priced fuel items such as naphtha had increased substantially since February 2007 alongside rising global oil prices, while prices of petrol and diesel, which are government-controlled, had partially adjusted. But prices of kerosene and cooking gas had not been raised by the government for several years.
RBI felt there were some demand-side pressures. Domestic iron and steel prices saw a sharp increase in line with recent hardening in international steel prices, it said, while cement price rises could be attributed largely to strong demand from construction domestically
A survey of professional forecasters by the central bank showed that the Indian economy is expected to grow 8.1% in the 2008/09 fiscal year that began this month. In 2007/08, the gross domestic product is estimated to have grown 8.7%.
A cause for concern is the fall in business confidence index. A survey of 392 companies by Federation of Indian Chambers of Commerce and Industry (FICCI), showed that concerns about an economic slowdown, inflation and rising costs hurt business confidence of Indian firms during October-December 2007 period. The FICCI business confidence index declined to a new five-year low of 55.3 points in the third quarter of 2007/08, from 61.2 in the previous quarter.
On the flip side, a pointer to the fact that the long term India growth story remains intact is the outcome of the latest 2008 US-India Business Council (USIBC) survey, according to which, India is, and will continue to be, a premier destination for investment by US firms, with a large number of respondents rating future economic growth in India as highly sustainable.
The initial batch of Q4 March 2008 results have been good with the exception of Tata Consultancy Services (TCS).
Meanwhile, the Lok Sabha is slated to pass the Finance Bill 2008-09 today, 29 April 2008.
The two-day US Federal Reserve policy meeting ends on Wednesday, 30 April 2008. The market expects the Fed to cut interest rates by 25 basis points to 2% and then signal that its rate-cutting cycle may be over for now in the face of mounting global energy and food inflation pressure.
As per provisional data, FIIs sold shares worth a net Rs 38.33 crore on Monday, 28 April 2008. Domestic funds sold shares worth a net Rs 166.61 crore on Monday.
FIIs were net buyers of Rs 455.13 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 214.86 crore and bought index options worth Rs 137.14 crore. They were net buyers of stock futures to the tune of Rs 24.42 crore and bought stock options worth Rs 78.72 crore
US stocks ended flat on Monday, 28 April 2008, as a $23 billion takeover of Wm Wrigley Jr Co, the world's largest chewing gum maker, by Mars Inc, the maker of M&Ms candy, helped offset downbeat comments by influential investor Warren Buffett about the economy. Buffett said US could be mired in a longer and deeper recession than most people think.
Asian stocks were mixed today. Key benchmark indices in Hong Kong and China were up by between 1.36% to 1.39%. Key benchmark indices in Singapore, Taiwan and South Korea were down by between 0.6% to 0.7%. Japanese markets were closed for a national holiday.
Net profit of Shiv-Vani Oil & Gas Exploration Services rose 109.25% to Rs 19.23 crore on 118.42% rise in sales to Rs 137.19 crore in Q4 March 2008 over March 2007.
Aban Offshore, Cairn India, Grasim, IFCI, Nagarjuna Fertilisers & Chemicals, Nalco, Reliance Capital, Alstom Projects, Bang Overseas, Bartronics India, Bharati Shipyard, Bhushan Steel, Bosch Chassis, Castrol India, Ceat, Gujarat Ambuja Exports, Maharashtra Seamless, Mirc Electronics, Nestle India, Raymond, SEAMEC, Bank Of Rajasthan, UTV Software, and Vishal Retail, among others will declare their March 2008 ended results today.
Telecom stocks may see action
Reliance Communications said on Monday, 28 April 2008 it would offer unlimited national long distance calls within its network for a fixed rental with immediate effect. Earlier yesterday, sector leader Bharti Airtel slashed long distance and roaming tariffs by 43% effective 30 April 2008.
Dwarikesh Sugar, Kernex Microsystems and Logix Microsystems will be placed in the Trade-to-Trade segment from 5 May 2008.
Indian Oil Corporation is planning to raise Rs 80,000 crore to reportedly fund a major acquisition in the exploration and production (E&P) sector.
Reliance Energy has changed its name to Reliance Infrastructure effective 28 April 2008.
Net profit of Hindustan Unilever declined 3.04% to Rs 380.95 crore on 19.14% rise in sales to Rs 3793.94 crore in Q1 March 2008 Q1 March 2007. The board of the company has approved to change the financial year to April-March; annual accounts this year will be for 15 months ended March.
Net profit of State Trading Corporation of India rose 125.04% to Rs 44.67 crore on 14.28% rise in sales to Rs 4255.98 crore in Q4 March 2008 over Q4 March 2007.
Titagarh Wagons reported net profit of Rs 60.57 crore in the year ended March 2008. Sales reported to Rs 559.64 crore in the year ended March 2008.
Net profit of Finolex Cables rose 13.14% to Rs 9.99 crore on 44.83% increase in sales to Rs 423.21 crore in Q4 March 2008 Q4 March 2007.
Net profit of Celestial Labs rose 222.78% to Rs 2.55 crore on 56.33% rise in sales to Rs 4.94 crore in Q4 March 2008 Q4 March 2007.
The outcome of the decision of the Reserve Bank of India (RBI)’s annual policy review at 12:00 IST will set direction for the bourses which have witnessed a solid rebound over the past few days on the back of good Q4 March 2008 results and on the back of firm global markets. Given the high inflation, the central bank may hike key rates.
It its latest report on macroeconomic and monetary developments in 2007/08 released on Monday, 28 April 2008, RBI has said that the global food prices were likely to remain firm as supply side pressures did not appear to be abating. The central bank said steps takes by the government to rein in prices should help curb inflation. It, however, said the inflation risks on account of oil prices remain incipient.
RBI has noted that freely priced fuel items such as naphtha had increased substantially since February 2007 alongside rising global oil prices, while prices of petrol and diesel, which are government-controlled, had partially adjusted. But prices of kerosene and cooking gas had not been raised by the government for several years.
RBI felt there were some demand-side pressures. Domestic iron and steel prices saw a sharp increase in line with recent hardening in international steel prices, it said, while cement price rises could be attributed largely to strong demand from construction domestically
A survey of professional forecasters by the central bank showed that the Indian economy is expected to grow 8.1% in the 2008/09 fiscal year that began this month. In 2007/08, the gross domestic product is estimated to have grown 8.7%.
A cause for concern is the fall in business confidence index. A survey of 392 companies by Federation of Indian Chambers of Commerce and Industry (FICCI), showed that concerns about an economic slowdown, inflation and rising costs hurt business confidence of Indian firms during October-December 2007 period. The FICCI business confidence index declined to a new five-year low of 55.3 points in the third quarter of 2007/08, from 61.2 in the previous quarter.
On the flip side, a pointer to the fact that the long term India growth story remains intact is the outcome of the latest 2008 US-India Business Council (USIBC) survey, according to which, India is, and will continue to be, a premier destination for investment by US firms, with a large number of respondents rating future economic growth in India as highly sustainable.
The initial batch of Q4 March 2008 results have been good with the exception of Tata Consultancy Services (TCS).
Meanwhile, the Lok Sabha is slated to pass the Finance Bill 2008-09 today, 29 April 2008.
The two-day US Federal Reserve policy meeting ends on Wednesday, 30 April 2008. The market expects the Fed to cut interest rates by 25 basis points to 2% and then signal that its rate-cutting cycle may be over for now in the face of mounting global energy and food inflation pressure.
As per provisional data, FIIs sold shares worth a net Rs 38.33 crore on Monday, 28 April 2008. Domestic funds sold shares worth a net Rs 166.61 crore on Monday.
FIIs were net buyers of Rs 455.13 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 214.86 crore and bought index options worth Rs 137.14 crore. They were net buyers of stock futures to the tune of Rs 24.42 crore and bought stock options worth Rs 78.72 crore
US stocks ended flat on Monday, 28 April 2008, as a $23 billion takeover of Wm Wrigley Jr Co, the world's largest chewing gum maker, by Mars Inc, the maker of M&Ms candy, helped offset downbeat comments by influential investor Warren Buffett about the economy. Buffett said US could be mired in a longer and deeper recession than most people think.
Asian stocks were mixed today. Key benchmark indices in Hong Kong and China were up by between 1.36% to 1.39%. Key benchmark indices in Singapore, Taiwan and South Korea were down by between 0.6% to 0.7%. Japanese markets were closed for a national holiday.
Net profit of Shiv-Vani Oil & Gas Exploration Services rose 109.25% to Rs 19.23 crore on 118.42% rise in sales to Rs 137.19 crore in Q4 March 2008 over March 2007.
Aban Offshore, Cairn India, Grasim, IFCI, Nagarjuna Fertilisers & Chemicals, Nalco, Reliance Capital, Alstom Projects, Bang Overseas, Bartronics India, Bharati Shipyard, Bhushan Steel, Bosch Chassis, Castrol India, Ceat, Gujarat Ambuja Exports, Maharashtra Seamless, Mirc Electronics, Nestle India, Raymond, SEAMEC, Bank Of Rajasthan, UTV Software, and Vishal Retail, among others will declare their March 2008 ended results today.
Monday, April 28, 2008
Hunting bulls hope to remain safe!
BUY FOT TODAY - RPOWER,BPCL,INFOSYS,BOI,.......
Reliance Power has fixed Book Closure from 3rd June to 5th June for issue of Bonus Shares. The Share would go ex-bonus in the last week of May
Results today:
Akruti City, Hexaware Technologies, Hindustan Unilever, IDFC, IOB, Reliance Energy, Reliance Natural Resources, Reliance Power,Sesa Goa, Wockhardt, Bata, CESC, Glenmark, Welspun Guj, Alok Ind.
FIIs were net buyers to the tune of Rs3.13bn (provisional) in the cash segment on Friday while local institutions were net sellers of Rs754.7mn. In the F&O segment, foreign funds were net buyers of Rs12.23bn
Bulls look to extend gains
After Thursday’s decline, bulls made a strong come back on Friday a strong close in the US market and a firm start in equity markets across Asia lifted the sentiment on Indian bourses. The sentiment further improved after telecom major Bharti Airtel beat the street estimates.
Bulls shrugged off the spike in the inflation figures lifting the Nifty index above the 5100 mark and the Sensex index above the 17k mark. India’s Inflation rate was at 7.33% for the week ended April 12 as compared to 7.14% last week.
Finally, the BSE benchmark Sensex ended 404 points higher to close at 17,125 and the Nifty index ended 111 points higher to 5,111.
Overall about 1,253 stocks advanced; 1,454 stocks declined while 56 stocks remained unchanged. Among the 50-Nifty 39 stocks ended in green and 11 stocks ended in red.
RCom surged by over 8% to Rs577 following reports stating that the company bought 90% stake in UK-based WiMax operator, eWave World. The scrip touched an intra-day high of Rs580 and a low of Rs533 and recorded volumes of over 37,00,000 shares on BSE.
Bharti Airtel rocketed to Rs925 by gaining over 9.5% after the company announced its Q4 net profit at Rs18.53 (up 39%) and net sales rose by 45% to Rs78.19. The scrip touched an intra-day high of Rs941 and a low of Rs845 and recorded volumes of over 23,00 000 shares on BSE.
Reliance Industries was up by over a percent to Rs2624 after reports said that the company received government approval to start drilling at an oil & gas field that it found in 2006. The scrip touched an intra-day high of Rs2633 and a low of Rs2561 and recorded volumes of over 7, 90, 000 shares on BSE.
Hindustan Zinc gained by over 5.5% to Rs669 as reports stated that it would set-up two smelters for Rs36bn. The scrip touched an intra-day high of Rs674 and a low of Rs642 and recorded volumes of over 1,30,000 shares on BSE.
HCC slipped by 4.5% to Rs125. The company posted a net profit after tax of Rs1087.7mn for the year ended March 31, 2008 up 37% and total income increased 30% to Rs31207.5mn for the year ended March 31, 2008. The scrip touched an intra-day high of Rs134 and a low of Rs121 and recorded volumes of over 15,00,000 shares on BSE.
ABB edged lower by 0.8% to Rs1170. The company announced Q1 result with net profit at Rs1.18bn (up 37%) and revenues at Rs15.5bn (up 16.5%). The scrip touched an intra-day high of Rs1207 and a low of Rs1145 and recorded volumes of over 1,00,000 shares on BSE.
EID Parry rallied by over 18% to Rs255 after reports stated that the company would sell 47% stake in Parryware for Rs7.25bn. The scrip touched an intra-day high of Rs258 and a low of Rs213 and recorded volumes of over 7,00,000 shares on BSE.
Tata Motors ended flat at Rs639. According to reports, the company is in the process of entering into a technology tie-up with a Japanese government agency to covert its generators to dual fuel systems. The scrip touched an intra-day high of Rs648 and a low of Rs635 and recorded volumes of over 1,00,000 shares on BSE.
With a strong start to the May series, on Monday bulls would look to extend gains. However, with indices approaching the 200 DMA it markets would face some resistance.
Corporate News
Jindal Steel & Power proposed 2mn ton steel plant in Bolivia will start production in 2011.(BS)
NMDC plans to set up a 3mn ton steel plant on its own in Chattisgarh; JV partner SAIL opts out.(BL)
DLF to invest Rs13bn to expand multiplex business.(BS)
Government approves an oil and gas development plan of Reliance Industries in its D6 block off the east coast.(FE)
Hero Honda plans to enter the retail finance market.(ET)
SAIL to hold prices at present levels without levying raw material surcharge imposed by other producers.(BL)
Indian Oil is re-looking its plans to acquire an overseas exploration company as oil & gas assets get dearer.(BS)
Iron ore exporter Sesa Goa to consider stock split and bonus share issue at its board meeting on April 28.(FE)
ICICI Bank makes additional provisions of US$45mn for mark to market losses on its credit derivative obligations and credit-linked note portfolio in February and March 2008.(BS)
INOX plans to increase its properties to 67 from 22 by 2010 with an investment of Rs5bn. (ET)
Reliance Industries set to acquire a majority stake in an oil block in Peru.(BL)
Hinduja Group to invest US$10bn in various power projects across India in the next 10 years. (TOI)
United Bank of India has decided to submit a fresh proposal for restructuring its Rs15.3bn capital in the next two months. (DNA)
Coal blocks lying unused with Coal India to be auctioned off to steel and cement companies.(BL)
HDFC Bank makes a provision of Rs1bn on currency derivative trades.(FE)
Nalco to invest US$1bn to put up smelters and a power plant in Iran.(DNA)
Biocon to set up its own R&D subsidiary arm in the current fiscal.(Mint)
Cairn India has managed to extract 200mn barrels of oil from Andhra reserves which were estimated at 101 mn barrels.(ET)
Essar E&P, a subsidiary of Essar Oil, has bid for two shallow water offshore blocks in Australia.(BL)
Reliance Communication to invest Rs10bn on international data centres in the country.(BS)
Hinduja group-ONGC Videsh combine has won approval of Iran for taking stakes in the oil & gas fields in the Persian Gulf.(ET)
Indian Oil’s Rs250bn Paradip refinery could be delayed due to escalating costs.(DNA)
Pyramid Saimira is looking at raising Rs15-18bn by listing its film production business.(ET)
Government allocates 2MHz additional spectrum to Bharti Airtel in Tamil Nadu.(Mint)
ICICI Bank has applied for a license to set up a non-banking finance company.(ET)
Satyam plans to set up its first offshore development centre in Gujarat.(BS)
Wipro has started offering legal process outsourcing services. (ET)
Reliance Industries plans to set up agri goods terminals in nine cities with an initial investment of Rs10bn.(FE)
Kuwait’s Zain and UAE’s Emirates Telecommunications Corp. join South Africa’s MTN and Russia’s Altimo in the race to acquire 25-30% stake in Unitech’s new telecom venture.(ET)
Hindujas may acquire majority stake in French firm Valeo. (TOI)
Economic News
SEBI allows mutual funds to invest in real estate.(BS)
TRAI recommends raising the foreign investment limit in news channels and FM radio to 49%.(FE)
RBI may relax asset classification norms for infrastructure loans to push lending for the sector.(BS)
TRAI recommends a hike in the foreign direct investment limit to 74% in key broadcast services.(BL)
Government may go for complete decontrol of sugar by scrapping all curbs in one go, instead of the earlier plan for phased decontrol.(ET)
Government says that fixed-line telephony will be exempted from licence fee.(ET)
TRAI suggests to DoT that only existing mobile and universal access service license holders (2G) should be allowed to bid for 3G services.(TOI)
FMCG prices increase 10% on higher input costs.(BS)
Government is finalizing a system to prevent generic versions drugs from getting marketing nods for patented drugs.(ET)
Television prices may rise by 12% on the Government’s decision to levy an anti-dumping duty on imported colour picture tubes. (ET)
Government is set to remove import duty on pig iron, mild steel, met coke; to levy 10% export duty on bars, rods, HR coils, CR coils, galvanized steel products, pipes and tubes.(ET)
IRDA has sought a five year freeze on service tax to be charged on life insurance companies who offer Ulips.(ET)
Government wants private steel companies to voluntarily reduce prices to pre-April levels or face stringent fiscal or policy measures
Reliance Power has fixed Book Closure from 3rd June to 5th June for issue of Bonus Shares. The Share would go ex-bonus in the last week of May
Results today:
Akruti City, Hexaware Technologies, Hindustan Unilever, IDFC, IOB, Reliance Energy, Reliance Natural Resources, Reliance Power,Sesa Goa, Wockhardt, Bata, CESC, Glenmark, Welspun Guj, Alok Ind.
FIIs were net buyers to the tune of Rs3.13bn (provisional) in the cash segment on Friday while local institutions were net sellers of Rs754.7mn. In the F&O segment, foreign funds were net buyers of Rs12.23bn
Bulls look to extend gains
After Thursday’s decline, bulls made a strong come back on Friday a strong close in the US market and a firm start in equity markets across Asia lifted the sentiment on Indian bourses. The sentiment further improved after telecom major Bharti Airtel beat the street estimates.
Bulls shrugged off the spike in the inflation figures lifting the Nifty index above the 5100 mark and the Sensex index above the 17k mark. India’s Inflation rate was at 7.33% for the week ended April 12 as compared to 7.14% last week.
Finally, the BSE benchmark Sensex ended 404 points higher to close at 17,125 and the Nifty index ended 111 points higher to 5,111.
Overall about 1,253 stocks advanced; 1,454 stocks declined while 56 stocks remained unchanged. Among the 50-Nifty 39 stocks ended in green and 11 stocks ended in red.
RCom surged by over 8% to Rs577 following reports stating that the company bought 90% stake in UK-based WiMax operator, eWave World. The scrip touched an intra-day high of Rs580 and a low of Rs533 and recorded volumes of over 37,00,000 shares on BSE.
Bharti Airtel rocketed to Rs925 by gaining over 9.5% after the company announced its Q4 net profit at Rs18.53 (up 39%) and net sales rose by 45% to Rs78.19. The scrip touched an intra-day high of Rs941 and a low of Rs845 and recorded volumes of over 23,00 000 shares on BSE.
Reliance Industries was up by over a percent to Rs2624 after reports said that the company received government approval to start drilling at an oil & gas field that it found in 2006. The scrip touched an intra-day high of Rs2633 and a low of Rs2561 and recorded volumes of over 7, 90, 000 shares on BSE.
Hindustan Zinc gained by over 5.5% to Rs669 as reports stated that it would set-up two smelters for Rs36bn. The scrip touched an intra-day high of Rs674 and a low of Rs642 and recorded volumes of over 1,30,000 shares on BSE.
HCC slipped by 4.5% to Rs125. The company posted a net profit after tax of Rs1087.7mn for the year ended March 31, 2008 up 37% and total income increased 30% to Rs31207.5mn for the year ended March 31, 2008. The scrip touched an intra-day high of Rs134 and a low of Rs121 and recorded volumes of over 15,00,000 shares on BSE.
ABB edged lower by 0.8% to Rs1170. The company announced Q1 result with net profit at Rs1.18bn (up 37%) and revenues at Rs15.5bn (up 16.5%). The scrip touched an intra-day high of Rs1207 and a low of Rs1145 and recorded volumes of over 1,00,000 shares on BSE.
EID Parry rallied by over 18% to Rs255 after reports stated that the company would sell 47% stake in Parryware for Rs7.25bn. The scrip touched an intra-day high of Rs258 and a low of Rs213 and recorded volumes of over 7,00,000 shares on BSE.
Tata Motors ended flat at Rs639. According to reports, the company is in the process of entering into a technology tie-up with a Japanese government agency to covert its generators to dual fuel systems. The scrip touched an intra-day high of Rs648 and a low of Rs635 and recorded volumes of over 1,00,000 shares on BSE.
With a strong start to the May series, on Monday bulls would look to extend gains. However, with indices approaching the 200 DMA it markets would face some resistance.
Corporate News
Jindal Steel & Power proposed 2mn ton steel plant in Bolivia will start production in 2011.(BS)
NMDC plans to set up a 3mn ton steel plant on its own in Chattisgarh; JV partner SAIL opts out.(BL)
DLF to invest Rs13bn to expand multiplex business.(BS)
Government approves an oil and gas development plan of Reliance Industries in its D6 block off the east coast.(FE)
Hero Honda plans to enter the retail finance market.(ET)
SAIL to hold prices at present levels without levying raw material surcharge imposed by other producers.(BL)
Indian Oil is re-looking its plans to acquire an overseas exploration company as oil & gas assets get dearer.(BS)
Iron ore exporter Sesa Goa to consider stock split and bonus share issue at its board meeting on April 28.(FE)
ICICI Bank makes additional provisions of US$45mn for mark to market losses on its credit derivative obligations and credit-linked note portfolio in February and March 2008.(BS)
INOX plans to increase its properties to 67 from 22 by 2010 with an investment of Rs5bn. (ET)
Reliance Industries set to acquire a majority stake in an oil block in Peru.(BL)
Hinduja Group to invest US$10bn in various power projects across India in the next 10 years. (TOI)
United Bank of India has decided to submit a fresh proposal for restructuring its Rs15.3bn capital in the next two months. (DNA)
Coal blocks lying unused with Coal India to be auctioned off to steel and cement companies.(BL)
HDFC Bank makes a provision of Rs1bn on currency derivative trades.(FE)
Nalco to invest US$1bn to put up smelters and a power plant in Iran.(DNA)
Biocon to set up its own R&D subsidiary arm in the current fiscal.(Mint)
Cairn India has managed to extract 200mn barrels of oil from Andhra reserves which were estimated at 101 mn barrels.(ET)
Essar E&P, a subsidiary of Essar Oil, has bid for two shallow water offshore blocks in Australia.(BL)
Reliance Communication to invest Rs10bn on international data centres in the country.(BS)
Hinduja group-ONGC Videsh combine has won approval of Iran for taking stakes in the oil & gas fields in the Persian Gulf.(ET)
Indian Oil’s Rs250bn Paradip refinery could be delayed due to escalating costs.(DNA)
Pyramid Saimira is looking at raising Rs15-18bn by listing its film production business.(ET)
Government allocates 2MHz additional spectrum to Bharti Airtel in Tamil Nadu.(Mint)
ICICI Bank has applied for a license to set up a non-banking finance company.(ET)
Satyam plans to set up its first offshore development centre in Gujarat.(BS)
Wipro has started offering legal process outsourcing services. (ET)
Reliance Industries plans to set up agri goods terminals in nine cities with an initial investment of Rs10bn.(FE)
Kuwait’s Zain and UAE’s Emirates Telecommunications Corp. join South Africa’s MTN and Russia’s Altimo in the race to acquire 25-30% stake in Unitech’s new telecom venture.(ET)
Hindujas may acquire majority stake in French firm Valeo. (TOI)
Economic News
SEBI allows mutual funds to invest in real estate.(BS)
TRAI recommends raising the foreign investment limit in news channels and FM radio to 49%.(FE)
RBI may relax asset classification norms for infrastructure loans to push lending for the sector.(BS)
TRAI recommends a hike in the foreign direct investment limit to 74% in key broadcast services.(BL)
Government may go for complete decontrol of sugar by scrapping all curbs in one go, instead of the earlier plan for phased decontrol.(ET)
Government says that fixed-line telephony will be exempted from licence fee.(ET)
TRAI suggests to DoT that only existing mobile and universal access service license holders (2G) should be allowed to bid for 3G services.(TOI)
FMCG prices increase 10% on higher input costs.(BS)
Government is finalizing a system to prevent generic versions drugs from getting marketing nods for patented drugs.(ET)
Television prices may rise by 12% on the Government’s decision to levy an anti-dumping duty on imported colour picture tubes. (ET)
Government is set to remove import duty on pig iron, mild steel, met coke; to levy 10% export duty on bars, rods, HR coils, CR coils, galvanized steel products, pipes and tubes.(ET)
IRDA has sought a five year freeze on service tax to be charged on life insurance companies who offer Ulips.(ET)
Government wants private steel companies to voluntarily reduce prices to pre-April levels or face stringent fiscal or policy measures
Saturday, April 26, 2008
Subscirbe and be the 1st one to get benefited by insider news
The Reliance Power stock closed above Rs 400-mark on the BSE for the first time since March 3, 2008, as the company announced the record date for the bonus issue. Reliance Power today announced the date of closure of its register of members from June 3 to June 5 for the purpose of determining the entitlement of shareholders to the bonus shares to be issued by the company.
After hitting intra-day high of Rs 404.65, the stock closed at Rs 402.15. Trading volumes too surged to 51.25-lakh shares against its two-week average of 27.16-lakh shares. The stock has recovered about 32 per cent, since it touched its low at Rs 303.45 on March 24. On the NSE, the stock witnessed a trading volume of 82.05-lakh shares, of which 25.75 per cent was presented for delivery.
The company will issue bonus shares to all shareholders, excluding the promoters (AAA Project Ventures Pvt Ltd, an entity fully-owned and controlled by Mr Anil D Ambani and also the promoter of Reliance Energy Ltd and REL itself), in the ratio of three shares of Rs 10 each for every five held. The bonus shares would reduce the cost for retail investors, who bought it at the IPO price of Rs 430 a share to Rs 268.75 each. For the institutional investors, who bought at Rs 450 a share at the primary offering, the cost would come down to Rs 281 each.
The bonus shares will be issued to those shareholders whose names appear in the register as on June 2.
The total paid-up equity would increase to Rs 239.7 crore. After the close of the IPO on January 18, the stock got listed on February 11, but had closed below the IPO prices.
Reliance Power has taken up a number projects with a total capacity of over 28,000 MW, but the first revenue flow from its operations would start from March 2010
After hitting intra-day high of Rs 404.65, the stock closed at Rs 402.15. Trading volumes too surged to 51.25-lakh shares against its two-week average of 27.16-lakh shares. The stock has recovered about 32 per cent, since it touched its low at Rs 303.45 on March 24. On the NSE, the stock witnessed a trading volume of 82.05-lakh shares, of which 25.75 per cent was presented for delivery.
The company will issue bonus shares to all shareholders, excluding the promoters (AAA Project Ventures Pvt Ltd, an entity fully-owned and controlled by Mr Anil D Ambani and also the promoter of Reliance Energy Ltd and REL itself), in the ratio of three shares of Rs 10 each for every five held. The bonus shares would reduce the cost for retail investors, who bought it at the IPO price of Rs 430 a share to Rs 268.75 each. For the institutional investors, who bought at Rs 450 a share at the primary offering, the cost would come down to Rs 281 each.
The bonus shares will be issued to those shareholders whose names appear in the register as on June 2.
The total paid-up equity would increase to Rs 239.7 crore. After the close of the IPO on January 18, the stock got listed on February 11, but had closed below the IPO prices.
Reliance Power has taken up a number projects with a total capacity of over 28,000 MW, but the first revenue flow from its operations would start from March 2010
Friday, April 25, 2008
Positive global cues, healthy rollovers may trigger early rally
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Thursday, April 24, 2008
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April 2008 derivatives expiry to keep markets volatile
Keep eyes on Mrpl,Ashok Leyland, Castrol
Sell Ranbaxy..............
Buy GUJ NRE, WEL GUJ ..........
Alert--- Last .1 or 2 ?.??... Hours or minutes Indian stock market show green or blood Red
Save your investment by subscribe our services
what about you ???
still trust on so called market expert who always give confusing calls with if and but
Remember if your market expert can't guide you market trend then ........
Remember We were one and only who predicated nifty above 5000 -5150 levels in April 08 well in advance
Now check whole India is talking about Nifty 5300
Now corrections 1800 points up or down ??
Important results to be watched out for during the day are ACC, HDFC Bank, Hero Honda Motors, Idea Cellular Services and Maruti Suzuki India, among others
As per provisional data, foreign institutional investors today sold shares worth a net Rs 480.93 crore yesterday, 23 April 2008. Domestic funds bought shares worth a net Rs 70.04 crore on that day.
FIIs) were net sellers of Rs 480.93 crore (provisional) on Wednesday, according to data released by BSE.
Keep eyes on Mrpl,Ashok Leyland, Castrol
Sell Ranbaxy..............
Buy GUJ NRE, WEL GUJ ..........
Alert--- Last .1 or 2 ?.??... Hours or minutes Indian stock market show green or blood Red
Save your investment by subscribe our services
what about you ???
still trust on so called market expert who always give confusing calls with if and but
Remember if your market expert can't guide you market trend then ........
Remember We were one and only who predicated nifty above 5000 -5150 levels in April 08 well in advance
Now check whole India is talking about Nifty 5300
Now corrections 1800 points up or down ??
Important results to be watched out for during the day are ACC, HDFC Bank, Hero Honda Motors, Idea Cellular Services and Maruti Suzuki India, among others
As per provisional data, foreign institutional investors today sold shares worth a net Rs 480.93 crore yesterday, 23 April 2008. Domestic funds bought shares worth a net Rs 70.04 crore on that day.
FIIs) were net sellers of Rs 480.93 crore (provisional) on Wednesday, according to data released by BSE.
Wednesday, April 23, 2008
Oil on boil...but bulls hope to travel!
Keep eyes On IDBI something cooking up
On the eve of the F&O expiry, heavyweights could swing wildly. The indices may open flat to positive and thereafter move to the global beats. Pressure is likely to set in after days of gains. Bulls are showing signs of fatigue.
Among the results today include: Container Corp, Educomp Solution, Indian Bank, Assam Petrochem, Oriental Bank, Polaris Software, Bajaj Hindustan, Simplex Trading, Supreme Petroch, Asian Oilfield, Shakti Pumps, Gati and Everest Inds.
Nifty (April) futures turned into a discount of 6 points from a premium of 6 points and around 11 lakh shares were added in open interest. Total open interest in the market was Rs.72, 801.crore and Rs.2197.crore was added in open interest.
The FIIs turned to net buyers at Rs.2.55bn in Index Future and by Rs2.30bn in index options. They were net buyers of Rs480mn in Single Stock Future. In the cash segment provisional figures show FIIs were net buyer at Rs2.92bn and DIIs were net sellers at Rs1.19bn.
Overall about 1,569 stocks advanced; 1,127 stocks declined while 62 stocks remained unchanged. Among the 50-Nifty 29 stocks ended in green and 21 stocks ended in red.
Among the BSE Sectoral indices, BSE Realty index (up 3%), BSE Metal index (up 2.07%), BSWE Capital Good index (up 1.90%) and BSE Bankex index (up 1.59%). On the other hand, BSE IT index (down 4.3%) and BSE Teck index (down 2.40%).
TCS dropped by over 10.5% to Rs887, the most since its August 2004 debut as company reported the slowest profit growth in 12 quarter. Further on there were also reports stating that Chilean Government canceled US$70mn contract awarded to the company. The scrip touched an intra-day high of Rs980 and a low of Rs881 and recorded volumes of over 8, 00, 000 shares on BSE.
Satyam Computer fell by 5% to Rs435. Reports said that the company acquired the engineering giant Caterpillar’s market research and customer analytics arm for US$60mn. The scrip touched an intra-day high of Rs458 and a low of Rs432 and recorded volumes of over 7, 50, 000 shares on BSE.
GVK Power was marginally up by half a percent to Rs45 after the company announced its full year results with FY08 profit at Rs908.50mn (up 511.7%) and at Rs1.17bn (up 178.5%). The scrip touched an intra-day high of Rs53 and a low of Rs44 and recorded volumes of over 41,00,000 shares on BSE.
Heavyweight BHEL gained by over 5.5% to Rs1871 after reports stated that the company would tie up with private firms for Assam project. The scrip touched an intra-day high of Rs1885 and a low of Rs1755 and recorded volumes of over 6,00,000 shares on BSE.
IOB rose by over a percent to Rs144 after the company raised rates on new sub-PLR loans by more than 50 basis points. The scrip touched an intra-day high of Rs145 and a low of Rs139 and recorded volumes of over 40, 000 shares on BSE.
Karnataka Bank surged by 3% to Rs116. Reports said that RBI rejected the Bank’s plan to rope in IFC as an equity investor through a preferential allotment of shares. The scrip touched an intra-day high of Rs117 and a low of Rs112 and recorded volumes of over 10, 00, 000 shares on BSE.
ICICI Bank gained by over 2% to Rs882. According to reports, the bank raised automobile loan rates by 0.75% from first week of April. The scrip touched an intra-day high of Rs888 and a low of Rs852 and recorded volumes of over 9, 00, 000 shares on BSE.
Praj Industries edged higher by half a percent to Rs175. The company opened an R&D facility in Pune, said reports. The scrip touched an intra-day high of Rs178 and a low of Rs168 and recorded volumes of over 11,00,000 shares on BSE.
L&T gained by over 2.5% to Rs2920 as the company on Monday announced that they would develop an integrated commercial complex in Navi Mumbai, on 40 acres at a cost of Rs35bn. The scrip touched an intra-day high of Rs2928 and a low of Rs2811 and recorded volumes of over 3,00,000 shares on BSE.
Corporate News
- Delhi High Court restrained Cipla from exporting anti-cancer drug Tarceva to countries where Swiss company Hoffmann La Roche holds a patent registration for it. (BS)
- Reliance Retail forms 49:51 JV with US based stationary retailer Office Depot. (Mint)
- Accenture says it had no cancellations or deferrals of orders. (Mint)
- Accenture to raise the headcount in India to 50,000 in a year from 37,000 now in the financial year ending August 31, 2008. (FE)
- RPL plans setting up greenfield unit in Kuwait. (BS)
- FIPB rejects Future Ventures’ FDI proposal in multi-brand retailing. (BS)
- Eveready and Phoenix Lamps terminate the distribution and dual brand agreement. (BL)
- Reliance Power to expedite hydropower projects; will invest Rs105bn in three years for 2100 MW. (BL)
- Indiabulls Real Estate acquires 134 acres of land in Dombivli belonging to automaker PAL-Peugeot for Rs6.76bn. (ET)
- AT&T is in talks with Malaysia’s Maxis Communications to buy out its 74% stake in Aircel. (ET)
- Ranbaxy Labs enters into strategic alliance with Orchid Chemical for finished dosage forms and active pharmaceutical ingredients (API) for several products. (ET)
- The National Pharmaceutical Pricing Authority (NPPA) asks state governments to initiate prosecution proceedings against Alembic, Cadila, Wockhardt, Lupin and Medley for allegedly selling select brands without getting price approvals. (ET)
- Deccan Aviation to raise Rs10bn as debt from financial institutions. (ET)
- SAIL, Tata Steel to hold steel prices for a few months. (ET)
- Idea Cellular may sell its 16% stake in Indus Towers in December. (DNA)
On the eve of the F&O expiry, heavyweights could swing wildly. The indices may open flat to positive and thereafter move to the global beats. Pressure is likely to set in after days of gains. Bulls are showing signs of fatigue.
Among the results today include: Container Corp, Educomp Solution, Indian Bank, Assam Petrochem, Oriental Bank, Polaris Software, Bajaj Hindustan, Simplex Trading, Supreme Petroch, Asian Oilfield, Shakti Pumps, Gati and Everest Inds.
Nifty (April) futures turned into a discount of 6 points from a premium of 6 points and around 11 lakh shares were added in open interest. Total open interest in the market was Rs.72, 801.crore and Rs.2197.crore was added in open interest.
The FIIs turned to net buyers at Rs.2.55bn in Index Future and by Rs2.30bn in index options. They were net buyers of Rs480mn in Single Stock Future. In the cash segment provisional figures show FIIs were net buyer at Rs2.92bn and DIIs were net sellers at Rs1.19bn.
Overall about 1,569 stocks advanced; 1,127 stocks declined while 62 stocks remained unchanged. Among the 50-Nifty 29 stocks ended in green and 21 stocks ended in red.
Among the BSE Sectoral indices, BSE Realty index (up 3%), BSE Metal index (up 2.07%), BSWE Capital Good index (up 1.90%) and BSE Bankex index (up 1.59%). On the other hand, BSE IT index (down 4.3%) and BSE Teck index (down 2.40%).
TCS dropped by over 10.5% to Rs887, the most since its August 2004 debut as company reported the slowest profit growth in 12 quarter. Further on there were also reports stating that Chilean Government canceled US$70mn contract awarded to the company. The scrip touched an intra-day high of Rs980 and a low of Rs881 and recorded volumes of over 8, 00, 000 shares on BSE.
Satyam Computer fell by 5% to Rs435. Reports said that the company acquired the engineering giant Caterpillar’s market research and customer analytics arm for US$60mn. The scrip touched an intra-day high of Rs458 and a low of Rs432 and recorded volumes of over 7, 50, 000 shares on BSE.
GVK Power was marginally up by half a percent to Rs45 after the company announced its full year results with FY08 profit at Rs908.50mn (up 511.7%) and at Rs1.17bn (up 178.5%). The scrip touched an intra-day high of Rs53 and a low of Rs44 and recorded volumes of over 41,00,000 shares on BSE.
Heavyweight BHEL gained by over 5.5% to Rs1871 after reports stated that the company would tie up with private firms for Assam project. The scrip touched an intra-day high of Rs1885 and a low of Rs1755 and recorded volumes of over 6,00,000 shares on BSE.
IOB rose by over a percent to Rs144 after the company raised rates on new sub-PLR loans by more than 50 basis points. The scrip touched an intra-day high of Rs145 and a low of Rs139 and recorded volumes of over 40, 000 shares on BSE.
Karnataka Bank surged by 3% to Rs116. Reports said that RBI rejected the Bank’s plan to rope in IFC as an equity investor through a preferential allotment of shares. The scrip touched an intra-day high of Rs117 and a low of Rs112 and recorded volumes of over 10, 00, 000 shares on BSE.
ICICI Bank gained by over 2% to Rs882. According to reports, the bank raised automobile loan rates by 0.75% from first week of April. The scrip touched an intra-day high of Rs888 and a low of Rs852 and recorded volumes of over 9, 00, 000 shares on BSE.
Praj Industries edged higher by half a percent to Rs175. The company opened an R&D facility in Pune, said reports. The scrip touched an intra-day high of Rs178 and a low of Rs168 and recorded volumes of over 11,00,000 shares on BSE.
L&T gained by over 2.5% to Rs2920 as the company on Monday announced that they would develop an integrated commercial complex in Navi Mumbai, on 40 acres at a cost of Rs35bn. The scrip touched an intra-day high of Rs2928 and a low of Rs2811 and recorded volumes of over 3,00,000 shares on BSE.
Corporate News
- Delhi High Court restrained Cipla from exporting anti-cancer drug Tarceva to countries where Swiss company Hoffmann La Roche holds a patent registration for it. (BS)
- Reliance Retail forms 49:51 JV with US based stationary retailer Office Depot. (Mint)
- Accenture says it had no cancellations or deferrals of orders. (Mint)
- Accenture to raise the headcount in India to 50,000 in a year from 37,000 now in the financial year ending August 31, 2008. (FE)
- RPL plans setting up greenfield unit in Kuwait. (BS)
- FIPB rejects Future Ventures’ FDI proposal in multi-brand retailing. (BS)
- Eveready and Phoenix Lamps terminate the distribution and dual brand agreement. (BL)
- Reliance Power to expedite hydropower projects; will invest Rs105bn in three years for 2100 MW. (BL)
- Indiabulls Real Estate acquires 134 acres of land in Dombivli belonging to automaker PAL-Peugeot for Rs6.76bn. (ET)
- AT&T is in talks with Malaysia’s Maxis Communications to buy out its 74% stake in Aircel. (ET)
- Ranbaxy Labs enters into strategic alliance with Orchid Chemical for finished dosage forms and active pharmaceutical ingredients (API) for several products. (ET)
- The National Pharmaceutical Pricing Authority (NPPA) asks state governments to initiate prosecution proceedings against Alembic, Cadila, Wockhardt, Lupin and Medley for allegedly selling select brands without getting price approvals. (ET)
- Deccan Aviation to raise Rs10bn as debt from financial institutions. (ET)
- SAIL, Tata Steel to hold steel prices for a few months. (ET)
- Idea Cellular may sell its 16% stake in Indus Towers in December. (DNA)
Tuesday, April 22, 2008
IT Sector see Profitbooking n ONGC
OUR STBT - IT SECTOR, NIFTY Etc
MARKETS AS EXPECTED GAVE GAP UP OPENING AND REMAINED FIRM ALL THROUGH THE DAY.NOW TODAY WE EXPECT NEGATIVE OPENING AND ONE SHOULD BUY WITH SL OF 4920 NOW FOR SHORT TERM TARGETS OF 5200-5300
The market is likely to extend its gains for the sixth straight session today, 22 April 2008 fuelled by better than expected results from Indian's top company in terms of markjet capitalisation Reliance Industries released yesterday after market hours.
The near-term market will be driven by the quality of earnings rolled out by corporates in the coming days. Important corporate numbers due today, 22 April 2008, are Ranbaxy Laboratories, UltraTechCement and Biocon.
Market may turn volatile in coming days ahead of the expiry of April 2008 derivative series on Thursday, 24 April 2008. As per reports, Nifty rollover from April 2008 series to May 2008 series stood at 34% while marketwide rollover was 15%.
Asian markets were trading lower today, 22 April 2008. Japan's Nikkei (down 1.12% at 13,542.81), Hong Kong's Hang Seng (down 0.99% at 24,476.29), Taiwan's Taiwan Weighted (down 0.67% at 9,022.27), Singapore's Straits Times (down 0.41% at 3,157.98) and South Korea's Seoul Composite (down 0.49% at 1,791.58), edged lower.
US markets ended mixed yesterday, 21 April 2008, as quarterly results from Bank of America fueled worries about bank earnings, while energy and tech gained. The Dow Jones industrial average slipped 24.34 points, or 0.19%, to 12,825.02. The Standard & Poor's 500 index fell 2.16 points, or 0.16%, to 1,388.17, while the Nasdaq composite index gained 5.07 points, or 0.21%, to 2,408.04.
Back home, the Indian stock market posted fgains for the fifth straight session yesterday, 21 April 2008, shrugging off a steep 50 basis points hike in cash reserve ratio (CRR) announced by the Reserve Bank of India late on Thursday, 17 April 2008. The 30-share BSE Sensex was up 258.13 points or 1.57% at 16,739.33 and the S&P CNX Nifty advanced 78.60 points or 1.59% at 5,037 on that day.
The BSE Sensex has now gained 1,044.23 points or 6.65% in five straight sessions from 15,695.10 on 10 April 2008
As per provisional data, foreign institutional investors (FIIs) yesterday , 21 April 2008 bought shares worth a net Rs 169.66 crore. Domestic funds purchased stocks worth a net Rs 111.58 crore on that day.
FIIs were net buyers of Rs 1,078.11 crore in the futures & options segment on Monday, 21 April 2008. They were net buyers of index futures to the tune of Rs 394.02 crore and bought index options worth Rs 609.09 crore. They were net buyers of stock futures to the tune of Rs 82.74 crore and sold stock options worth Rs 7.74 crore.
MARKETS AS EXPECTED GAVE GAP UP OPENING AND REMAINED FIRM ALL THROUGH THE DAY.NOW TODAY WE EXPECT NEGATIVE OPENING AND ONE SHOULD BUY WITH SL OF 4920 NOW FOR SHORT TERM TARGETS OF 5200-5300
The market is likely to extend its gains for the sixth straight session today, 22 April 2008 fuelled by better than expected results from Indian's top company in terms of markjet capitalisation Reliance Industries released yesterday after market hours.
The near-term market will be driven by the quality of earnings rolled out by corporates in the coming days. Important corporate numbers due today, 22 April 2008, are Ranbaxy Laboratories, UltraTechCement and Biocon.
Market may turn volatile in coming days ahead of the expiry of April 2008 derivative series on Thursday, 24 April 2008. As per reports, Nifty rollover from April 2008 series to May 2008 series stood at 34% while marketwide rollover was 15%.
Asian markets were trading lower today, 22 April 2008. Japan's Nikkei (down 1.12% at 13,542.81), Hong Kong's Hang Seng (down 0.99% at 24,476.29), Taiwan's Taiwan Weighted (down 0.67% at 9,022.27), Singapore's Straits Times (down 0.41% at 3,157.98) and South Korea's Seoul Composite (down 0.49% at 1,791.58), edged lower.
US markets ended mixed yesterday, 21 April 2008, as quarterly results from Bank of America fueled worries about bank earnings, while energy and tech gained. The Dow Jones industrial average slipped 24.34 points, or 0.19%, to 12,825.02. The Standard & Poor's 500 index fell 2.16 points, or 0.16%, to 1,388.17, while the Nasdaq composite index gained 5.07 points, or 0.21%, to 2,408.04.
Back home, the Indian stock market posted fgains for the fifth straight session yesterday, 21 April 2008, shrugging off a steep 50 basis points hike in cash reserve ratio (CRR) announced by the Reserve Bank of India late on Thursday, 17 April 2008. The 30-share BSE Sensex was up 258.13 points or 1.57% at 16,739.33 and the S&P CNX Nifty advanced 78.60 points or 1.59% at 5,037 on that day.
The BSE Sensex has now gained 1,044.23 points or 6.65% in five straight sessions from 15,695.10 on 10 April 2008
As per provisional data, foreign institutional investors (FIIs) yesterday , 21 April 2008 bought shares worth a net Rs 169.66 crore. Domestic funds purchased stocks worth a net Rs 111.58 crore on that day.
FIIs were net buyers of Rs 1,078.11 crore in the futures & options segment on Monday, 21 April 2008. They were net buyers of index futures to the tune of Rs 394.02 crore and bought index options worth Rs 609.09 crore. They were net buyers of stock futures to the tune of Rs 82.74 crore and sold stock options worth Rs 7.74 crore.
Monday, April 21, 2008
Market, May Melt-Down, But, BOUND TO RECOVER
Reliance, Satyam and TCS will be reporting numbers and we expect the RBI CRR hike to be nullified by good numbers by these companies
Don't cry over anyone who won't cry over you”
The bulls will hope not to cry soon. On Thursday, after markets closed, the RBI announced a hike in CRR. The expectations were always there but the timing caught many by surprise. Starting today investors can start to sell short and borrow and lend securities. Institutional investors not permitted to do intra day trade with shorts. To begin with securities in the Futures & Options (F&O) segment would be eligible for short selling. This is set to bring in more depth in the long run. However, margining of institutional trades in the cash market from today is expected to result in a further dip in volumes. This will have a severe impact on institutional trades.
US markets did well over the weekend. Asian markets too are cheerful this morning. Given the positive global cues, the Indian markets should be able to overcome the CRR hike news. The banking counters may see some weakness initially. ICICI Bank has reportedly hiked rates for auto loans and other banks are expected to follow suit.
FIIs turned net buyers of Rs12.81bn in Index Future and by Rs11.65bn in index options. In Single Stock Futures, they were net buyers of Rs4.43bn. In the cash segment (provisional) , FIIs were net buyer by Rs5.97bn and DIIs were net sellers of Rs598.7mn.
Titagarh Wagons Limited will list on the bourses. The issue price was fixed at Rs540 per equity share for its initial public offering of 23,83,768 equity shares of Rs10 for cash at a price determined through 100% book building process. The issue was subscribed to 6.75 times. The qualified institutional bidder portion was subscribed approximately by 10.37 times, non institutional bidder portion by 2.77 times and retail bidder portion by 0.98 times.
The big ticket results today include Reliance, Satyam, TCS, Axis Bank and United Breweries.
Among the prominent headlines in the media include:
- Israeli investment firm Koor Industries on look out for a 10% stake in Tata Teleservices for US$720mn.
- Marks and Spencer forms retail JV with Reliance Retail
- Patni Computers is scouting for acquisitions in the consultancy space in Europe.
- Promoters of Dabur have sold Dabur Pharma to European firm Fresenius SE for Rs8.8bn.
- 3i Infotech raises Rs5bn debt to fund domestic buys.
- Infosys wins five-year contract from Conseco to provide development and maintenance services.
- Tata Power to enter in to a sourcing agreement with BHEL for all its future power projects.
- L&T may not sell it’s recently hived off ready-mix concrete division in 2008.
- Saffron Group picks up 30% stake in a realty project of Parsvnath Developers in Mumbai for Rs1.9bn.
- SCI likely to consider a bonus issue.
- Polaris to consider share buyback on April 23.
- ONGC has launched Rs63.4bn Mumbai High South redevelopment phase II.
- GMR Energy buys 5% equity stake in mining company Homeland South Africa for US$15mn.
- Abu Dhabi firm plans JV with Tata Group for developing a power plant in India.
- Punj Lloyd eyes Indian Army’s US$1bn contracts for artillery.
- Power Grid plans capital expenditure of Rs80bn in fiscal 2009.
Banks may CRRy
Indian bourses ended with smart gains on Thursday reaching a near six-week high on back of positive cues coming in from the international equity markets and buying momentum in the Realty, Metal and IT stocks. It was the third straight session of gains for the markets. The Realty stocks in particular were in demand also the IT stocks continued to be in momentum led by Infosys.
Among the 30-stocks of Sensex, 7 stocks ended in red and with Hindustan Unilever, L&T, RIL and REL were among the major laggards.
Finally, the BSE benchmark Sensex ended 237 points higher to close at 16,481 and the Nifty index ended 71 points higher to 4,958.
Overall about 2,020 stocks advanced; 711 stocks declined while 47 stocks remained unchanged. Among the 50-Nifty 42 stocks ended in green and 8 stocks ended in red.
Power Grid surged by over 3.5% to Rs102 after the company announced its FY08 results with net profit at Rs14.2bn (up 15.4%) and revenue at Rs47bn (up 15.1%). The company also announced its plans that they would spend Rs550bn in 11th Plan. The scrip touched an intra-day high of Rs104 and a low of Rs99 and recorded volumes of over 38,00,000 shares on BSE.
Hindustan Zinc surged by over 7% Rs591. India's largest producer of the metal announced that it cut zinc prices by 2.1% or by 2,300 rupees to Rs1,04,800 per metric ton, The hike will be effective starting April 17, 2008. The price of lead was left unchanged. The scrip touched an intra-day high of Rs595 and a low of Rs554 and recorded volumes of over 51,000 shares on BSE.
Century Plyboards was marginally up by half a percent to Rs690. The company announced that May 02, 2008 has been fixed as the Record Date for the purpose of split of equity shares of the company from face value of Rs10/- per share to face value of Rs1/- per share. The scrip touched an intra-day high of Rs718 and a low of Rs690 and recorded volumes of over 1,000 shares on BSE.
Hanung Toys surged by over 6% to Rs238 after the company said that the it signed MoU with a Chinese Company to buy latter's soft toy business in China by acquiring 100% stake in the said Company. The scrip touched an intra-day high of Rs244 and a low of Rs224 and recorded volumes of over 54,000 shares on BSE.
Sugar stocks were in momentum after government, scrapped a facility allowing duty-free raw sugar imports against exports at a later date as local stockpiles increased because of higher production. The concession on imports of raw sugar against the so-called advance lice BSE will be withdrawn with immediate effect, reports stated.
Dhampur Sugar surged by over 4% to Rs56, Balrampur Chini advanced by 3.5% to Rs98, Sakhti Sugar gained by 2% to Rs68 and Renuka Sugar added over 5% to Rs113.
GMR Infrastructure gained by 1.5% to Rs152 after the company’s unit acquired 5% of Homeland Mining and also has an option to buy additional 45% in Homeland. The scrip touched an intra-day high of Rs154 and a low of Rs151 and recorded volumes of over 10,00,000 shares on BSE.
UltraTech Cement was up by 0.5% to Rs783. According to reports, the company would setup a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs30bn. The scrip touched an intra-day high of Rs794 and a low of Rs773 and recorded volumes of over 12,000 shares on BSE.
M&M raced by over 3% to Rs638 after the company said that it inked 50:50 joint venture with South African international supply chain company, Capespan, through its agri-business initiative. The scrip touched an intra-day high of Rs642 and a low of Rs621 and recorded volumes of over 47,00,000 shares on BSE.
Polaris rallied by over 12% to Rs103 after the Board of Directors of the company announced that it would consider buy back on April 23. The scrip touched an intra-day high of Rs104 and a low of Rs92 and recorded volumes of over 16,00,000 shares on BSE.
On Monday, banks would come under pressure as in a statement, the Reserve Bank of India said, "On a review of current liquidity situation, it is considered desirable to increase the cash reserve ratio (CRR) of the scheduled commercial banks, regional rural banks (RRBs), scheduled state co-operative banks and scheduled primary (urban) co-operative banks by 50 basis points to 8.0% in two stages, effective from specified fortnights: First 25bps to be raised effective from April 26 and second would be effective from May 10.
Corporate News
- L&T Mitsubishi JV may win Rs480bn order from the union power ministry.(ET)
- AV Birla group to set up Rs6bn carbon black unit in Mexico.(BS)
- Coal India invites EOI from global mining firms for development of underground coal mines in seven blocks.(BL)
- Ispat Industries to raise Rs5bn through issue of share warrants to promoters.(BS)
- Shishir Bajaj raises his ownership in Bajaj Hindustan by nearly 5% in FY08.(ET)
- Maruti Suzuki decides to hike prices from first week of the next month.(TOI)
- M&M is in advanced stage of negotiation to acquire Belgium gear-maker VCST for US$475mn.(ET)
- Spanco Tele is close to winning the Common Services Centers contract worth Rs2bn.(BS)
- SAIL has decided not to increase prices for the moment.(BL)
- ADAG promoted Rosa power project is slated to be completed by the beginning of 2010, nine months ahead of schedule. (ET)
- Amtek Auto in talks with Sumitomo Corporation of Japan for a 50:50 JV in precision forgings.(DNA)
- ArcelorMittal has marked US$25bn for India plans. (TOI)
- TVS Motors incurs production and sales loss of Rs1bn due to ongoing litigation with Bajaj Auto over its 125cc motorcycle Flame.(DNA)
- Mahindra Lifespace to invest Rs10bn in four residential projects in NCR and Maharashtra over next three years.(BS)
- Hanung Toys signs a deal to acquire soft toys business of a Chinese firm for an undisclosed amount.(DNA)
- Jet Airways enters into partnership with Global Hotel Alliance. (ET)
- ONGC will invest Rs200bn in its different oil and gas recovery improvement programmes in the current fiscal.(DNA)
- Leela Group to invest Rs20bn over next three years to develop six new properties.(ET)
- Reliance Industries and Ballard Power Systems are in talks for a partnership in India. (DNA)
- Suzlon Energy secures orders for wind farm project in China. (ET)
- American Tower not in contention for Tata Teleservices’ tower arm.(ET)
- Greaves Cotton signs an agreement with Germany based Bomag to manufacture 19MT vibratory soil compactors.(ET)
- Indiabulls Financial forms an alliance with Sogecap, insurance subsidiary of Societe General.(ET)
Don't cry over anyone who won't cry over you”
The bulls will hope not to cry soon. On Thursday, after markets closed, the RBI announced a hike in CRR. The expectations were always there but the timing caught many by surprise. Starting today investors can start to sell short and borrow and lend securities. Institutional investors not permitted to do intra day trade with shorts. To begin with securities in the Futures & Options (F&O) segment would be eligible for short selling. This is set to bring in more depth in the long run. However, margining of institutional trades in the cash market from today is expected to result in a further dip in volumes. This will have a severe impact on institutional trades.
US markets did well over the weekend. Asian markets too are cheerful this morning. Given the positive global cues, the Indian markets should be able to overcome the CRR hike news. The banking counters may see some weakness initially. ICICI Bank has reportedly hiked rates for auto loans and other banks are expected to follow suit.
FIIs turned net buyers of Rs12.81bn in Index Future and by Rs11.65bn in index options. In Single Stock Futures, they were net buyers of Rs4.43bn. In the cash segment (provisional) , FIIs were net buyer by Rs5.97bn and DIIs were net sellers of Rs598.7mn.
Titagarh Wagons Limited will list on the bourses. The issue price was fixed at Rs540 per equity share for its initial public offering of 23,83,768 equity shares of Rs10 for cash at a price determined through 100% book building process. The issue was subscribed to 6.75 times. The qualified institutional bidder portion was subscribed approximately by 10.37 times, non institutional bidder portion by 2.77 times and retail bidder portion by 0.98 times.
The big ticket results today include Reliance, Satyam, TCS, Axis Bank and United Breweries.
Among the prominent headlines in the media include:
- Israeli investment firm Koor Industries on look out for a 10% stake in Tata Teleservices for US$720mn.
- Marks and Spencer forms retail JV with Reliance Retail
- Patni Computers is scouting for acquisitions in the consultancy space in Europe.
- Promoters of Dabur have sold Dabur Pharma to European firm Fresenius SE for Rs8.8bn.
- 3i Infotech raises Rs5bn debt to fund domestic buys.
- Infosys wins five-year contract from Conseco to provide development and maintenance services.
- Tata Power to enter in to a sourcing agreement with BHEL for all its future power projects.
- L&T may not sell it’s recently hived off ready-mix concrete division in 2008.
- Saffron Group picks up 30% stake in a realty project of Parsvnath Developers in Mumbai for Rs1.9bn.
- SCI likely to consider a bonus issue.
- Polaris to consider share buyback on April 23.
- ONGC has launched Rs63.4bn Mumbai High South redevelopment phase II.
- GMR Energy buys 5% equity stake in mining company Homeland South Africa for US$15mn.
- Abu Dhabi firm plans JV with Tata Group for developing a power plant in India.
- Punj Lloyd eyes Indian Army’s US$1bn contracts for artillery.
- Power Grid plans capital expenditure of Rs80bn in fiscal 2009.
Banks may CRRy
Indian bourses ended with smart gains on Thursday reaching a near six-week high on back of positive cues coming in from the international equity markets and buying momentum in the Realty, Metal and IT stocks. It was the third straight session of gains for the markets. The Realty stocks in particular were in demand also the IT stocks continued to be in momentum led by Infosys.
Among the 30-stocks of Sensex, 7 stocks ended in red and with Hindustan Unilever, L&T, RIL and REL were among the major laggards.
Finally, the BSE benchmark Sensex ended 237 points higher to close at 16,481 and the Nifty index ended 71 points higher to 4,958.
Overall about 2,020 stocks advanced; 711 stocks declined while 47 stocks remained unchanged. Among the 50-Nifty 42 stocks ended in green and 8 stocks ended in red.
Power Grid surged by over 3.5% to Rs102 after the company announced its FY08 results with net profit at Rs14.2bn (up 15.4%) and revenue at Rs47bn (up 15.1%). The company also announced its plans that they would spend Rs550bn in 11th Plan. The scrip touched an intra-day high of Rs104 and a low of Rs99 and recorded volumes of over 38,00,000 shares on BSE.
Hindustan Zinc surged by over 7% Rs591. India's largest producer of the metal announced that it cut zinc prices by 2.1% or by 2,300 rupees to Rs1,04,800 per metric ton, The hike will be effective starting April 17, 2008. The price of lead was left unchanged. The scrip touched an intra-day high of Rs595 and a low of Rs554 and recorded volumes of over 51,000 shares on BSE.
Century Plyboards was marginally up by half a percent to Rs690. The company announced that May 02, 2008 has been fixed as the Record Date for the purpose of split of equity shares of the company from face value of Rs10/- per share to face value of Rs1/- per share. The scrip touched an intra-day high of Rs718 and a low of Rs690 and recorded volumes of over 1,000 shares on BSE.
Hanung Toys surged by over 6% to Rs238 after the company said that the it signed MoU with a Chinese Company to buy latter's soft toy business in China by acquiring 100% stake in the said Company. The scrip touched an intra-day high of Rs244 and a low of Rs224 and recorded volumes of over 54,000 shares on BSE.
Sugar stocks were in momentum after government, scrapped a facility allowing duty-free raw sugar imports against exports at a later date as local stockpiles increased because of higher production. The concession on imports of raw sugar against the so-called advance lice BSE will be withdrawn with immediate effect, reports stated.
Dhampur Sugar surged by over 4% to Rs56, Balrampur Chini advanced by 3.5% to Rs98, Sakhti Sugar gained by 2% to Rs68 and Renuka Sugar added over 5% to Rs113.
GMR Infrastructure gained by 1.5% to Rs152 after the company’s unit acquired 5% of Homeland Mining and also has an option to buy additional 45% in Homeland. The scrip touched an intra-day high of Rs154 and a low of Rs151 and recorded volumes of over 10,00,000 shares on BSE.
UltraTech Cement was up by 0.5% to Rs783. According to reports, the company would setup a greenfield project at Mahuva in Bhavnagar district of Gujarat at an investment of Rs30bn. The scrip touched an intra-day high of Rs794 and a low of Rs773 and recorded volumes of over 12,000 shares on BSE.
M&M raced by over 3% to Rs638 after the company said that it inked 50:50 joint venture with South African international supply chain company, Capespan, through its agri-business initiative. The scrip touched an intra-day high of Rs642 and a low of Rs621 and recorded volumes of over 47,00,000 shares on BSE.
Polaris rallied by over 12% to Rs103 after the Board of Directors of the company announced that it would consider buy back on April 23. The scrip touched an intra-day high of Rs104 and a low of Rs92 and recorded volumes of over 16,00,000 shares on BSE.
On Monday, banks would come under pressure as in a statement, the Reserve Bank of India said, "On a review of current liquidity situation, it is considered desirable to increase the cash reserve ratio (CRR) of the scheduled commercial banks, regional rural banks (RRBs), scheduled state co-operative banks and scheduled primary (urban) co-operative banks by 50 basis points to 8.0% in two stages, effective from specified fortnights: First 25bps to be raised effective from April 26 and second would be effective from May 10.
Corporate News
- L&T Mitsubishi JV may win Rs480bn order from the union power ministry.(ET)
- AV Birla group to set up Rs6bn carbon black unit in Mexico.(BS)
- Coal India invites EOI from global mining firms for development of underground coal mines in seven blocks.(BL)
- Ispat Industries to raise Rs5bn through issue of share warrants to promoters.(BS)
- Shishir Bajaj raises his ownership in Bajaj Hindustan by nearly 5% in FY08.(ET)
- Maruti Suzuki decides to hike prices from first week of the next month.(TOI)
- M&M is in advanced stage of negotiation to acquire Belgium gear-maker VCST for US$475mn.(ET)
- Spanco Tele is close to winning the Common Services Centers contract worth Rs2bn.(BS)
- SAIL has decided not to increase prices for the moment.(BL)
- ADAG promoted Rosa power project is slated to be completed by the beginning of 2010, nine months ahead of schedule. (ET)
- Amtek Auto in talks with Sumitomo Corporation of Japan for a 50:50 JV in precision forgings.(DNA)
- ArcelorMittal has marked US$25bn for India plans. (TOI)
- TVS Motors incurs production and sales loss of Rs1bn due to ongoing litigation with Bajaj Auto over its 125cc motorcycle Flame.(DNA)
- Mahindra Lifespace to invest Rs10bn in four residential projects in NCR and Maharashtra over next three years.(BS)
- Hanung Toys signs a deal to acquire soft toys business of a Chinese firm for an undisclosed amount.(DNA)
- Jet Airways enters into partnership with Global Hotel Alliance. (ET)
- ONGC will invest Rs200bn in its different oil and gas recovery improvement programmes in the current fiscal.(DNA)
- Leela Group to invest Rs20bn over next three years to develop six new properties.(ET)
- Reliance Industries and Ballard Power Systems are in talks for a partnership in India. (DNA)
- Suzlon Energy secures orders for wind farm project in China. (ET)
- American Tower not in contention for Tata Teleservices’ tower arm.(ET)
- Greaves Cotton signs an agreement with Germany based Bomag to manufacture 19MT vibratory soil compactors.(ET)
- Indiabulls Financial forms an alliance with Sogecap, insurance subsidiary of Societe General.(ET)
Thursday, April 17, 2008
Today Nifty 5000 levels
HOT PICKS- Rel capital,Fertilizer stocks,Alok,Arvind mills, Lanco infra,
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Wednesday, April 16, 2008
Larsen & Turbo may see action
Today's Pick - HEG
We recommend a buy in HEG from a short-term perspective. Referring to the chart of HEG, we see that the stock had been on a medium-term downtrend from its January 2008 high of Rs 609 to its March low of Rs 216.
However, the stock found support at around Rs 240 level in late March (coincides July 2007 peak) and commenced to move up. Subsequently, the stock breached the medium-term down trendline and then the 21-day moving average.
We notice that there is an increase in volume in the last three trading days. Moreover, the long-term uptrend of the stock, which began in June 2006, is still in place. The stock appears to have resumed the long-term uptrend. The daily momentum indicator is on the verge of entering the bullish zone from the neutral region. The moving average convergence and divergence is also likely to enter into the positive territory. We are bullish on the stock from a short-term point of view. We expect the stock to move up to our price target of Rs 335 in the short-term. Investors with short-term perspective can buy the stock, while keeping the stop-loss at Rs 275
Larsen & Turbo and the Tamil Nadu Government have entered into an agreement to set up a Rs 3,068-crore integrated ship building and port facility to the north of Chennai.
Nicholas Piramal India on Tuesday, 15 April 2008 said it has signed a definitive agreement with Khandelwal Laboratories for purchase of Anafortan and CEFI Brand Groups of the latter for Rs 116 crore.
Tata Group is reportedly eyeing a partnership with Brazilian aircraft maker Embraer. According to reports, the talks were on with the Brazilian aircraft manufacturer for starting a joint venture for production of aircraft, as Embraer, the world's third largest plane manufacturer, was unable to cope with the orders that it was getting from various countries and private players.
Global energy major Shell may reportedly bid for acquiring 30% stake in Reliance Industries' discovered gas block in the Krishna-Godavari basin. Shell's bid could be around $6.7 billion, the reports added.
Net profit of Reliance Industrial Infrastructure rose 52.37% to Rs 6.43 crore on 38.61% rise in sales to Rs 18.92 crore in Q4 March 2008 over Q4 March 2007.
Net profit of Rallis India rose 115.44% to Rs 125.19 crore on 7.64% rise in sales to Rs 692.15 crore in Q4 March 2008 Q4 March 2007.
Power Finance Corporation, NDTV, Merck, BASF India and Petronet LNG among others will declare their March 2008 ended results today.
The market may open higher today, 16 April 2008, extending yesterday’s rally, which was led by IT bellwether Infosys Technologies. Asian markets were trading higher today, 16 April 2008. US markets settled with decent gains yesterday, 15 April 2008.
Power Finance Corporation, Reliance Petroleum, Mindtree Consulting and Petronet Lng among others will declare their March quarterly results today.
Asian markets were trading higher today, 16 April 2008. Japan's Nikkei (up 1.42% at 13,174.62), Hong Kong's Hang Seng (up 0.84% at 24,102.72), Taiwan's Taiwan Weighted (up 0.76% at 8,992.41), Singapore's Straits Times (up 1.32% at 3,096.97) and South Korea's Seoul Composite (up 0.90% at 1,757.80) edged higher.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Back home, the battered stock market found rebounded yesterday, 15 April 2008, triggered by IT bellwether Infosys Technologies' good future outlook. The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66 and the S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65 on that day.
Sensex has gained 1344.17 points or 9.07% from a low of 14,809.49 on 17 March 2008. It is off 5,053.11 points or 23.82% from a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign funds sold shares worth a net Rs 56.52 crore on Tuesday, 15 April 2008. Domestic funds purchased shares worth a net Rs 13.27 crore on that day.
FIIs were net sellers of Rs 795.13 crore in the futures & options segment on Tuesday, 15 April 2008. They were net sellers of index futures to the tune of Rs 738.58 crore and bought index options worth Rs 302.18 crore. They were net sellers of stock futures to the tune of Rs 361.57 crore and bought stock options worth Rs 2.84 crore.
Crude oil prices slipped today, 16 April 2008, after the US dollar rose on surprisingly robust US economic data. US light crude fell 28 cents to $113.51 a barrel, off Tuesday's record high of $114.08. London Brent crude fell 38 cents to $111.20 a barrel.
We recommend a buy in HEG from a short-term perspective. Referring to the chart of HEG, we see that the stock had been on a medium-term downtrend from its January 2008 high of Rs 609 to its March low of Rs 216.
However, the stock found support at around Rs 240 level in late March (coincides July 2007 peak) and commenced to move up. Subsequently, the stock breached the medium-term down trendline and then the 21-day moving average.
We notice that there is an increase in volume in the last three trading days. Moreover, the long-term uptrend of the stock, which began in June 2006, is still in place. The stock appears to have resumed the long-term uptrend. The daily momentum indicator is on the verge of entering the bullish zone from the neutral region. The moving average convergence and divergence is also likely to enter into the positive territory. We are bullish on the stock from a short-term point of view. We expect the stock to move up to our price target of Rs 335 in the short-term. Investors with short-term perspective can buy the stock, while keeping the stop-loss at Rs 275
Larsen & Turbo and the Tamil Nadu Government have entered into an agreement to set up a Rs 3,068-crore integrated ship building and port facility to the north of Chennai.
Nicholas Piramal India on Tuesday, 15 April 2008 said it has signed a definitive agreement with Khandelwal Laboratories for purchase of Anafortan and CEFI Brand Groups of the latter for Rs 116 crore.
Tata Group is reportedly eyeing a partnership with Brazilian aircraft maker Embraer. According to reports, the talks were on with the Brazilian aircraft manufacturer for starting a joint venture for production of aircraft, as Embraer, the world's third largest plane manufacturer, was unable to cope with the orders that it was getting from various countries and private players.
Global energy major Shell may reportedly bid for acquiring 30% stake in Reliance Industries' discovered gas block in the Krishna-Godavari basin. Shell's bid could be around $6.7 billion, the reports added.
Net profit of Reliance Industrial Infrastructure rose 52.37% to Rs 6.43 crore on 38.61% rise in sales to Rs 18.92 crore in Q4 March 2008 over Q4 March 2007.
Net profit of Rallis India rose 115.44% to Rs 125.19 crore on 7.64% rise in sales to Rs 692.15 crore in Q4 March 2008 Q4 March 2007.
Power Finance Corporation, NDTV, Merck, BASF India and Petronet LNG among others will declare their March 2008 ended results today.
The market may open higher today, 16 April 2008, extending yesterday’s rally, which was led by IT bellwether Infosys Technologies. Asian markets were trading higher today, 16 April 2008. US markets settled with decent gains yesterday, 15 April 2008.
Power Finance Corporation, Reliance Petroleum, Mindtree Consulting and Petronet Lng among others will declare their March quarterly results today.
Asian markets were trading higher today, 16 April 2008. Japan's Nikkei (up 1.42% at 13,174.62), Hong Kong's Hang Seng (up 0.84% at 24,102.72), Taiwan's Taiwan Weighted (up 0.76% at 8,992.41), Singapore's Straits Times (up 1.32% at 3,096.97) and South Korea's Seoul Composite (up 0.90% at 1,757.80) edged higher.
US markets logged gains on Tuesday, 15 April 2008, following better-than-forecast earnings at regional banks and record prices for oil and gasoline. The gain was led by financial and energy shares. The Dow Jones industrial average gained 60 points to close at 12,362. The Nasdaq gained 10 points at 2,286, while the S&P 500 index rose 6 points to 1,334.
Back home, the battered stock market found rebounded yesterday, 15 April 2008, triggered by IT bellwether Infosys Technologies' good future outlook. The 30-share BSE Sensex rose 346.02 points or 2.19% at 16,153.66 and the S&P CNX Nifty was up 101.85 points or 2.13% at 4879.65 on that day.
Sensex has gained 1344.17 points or 9.07% from a low of 14,809.49 on 17 March 2008. It is off 5,053.11 points or 23.82% from a record high of 21206.77 hit on 10 January 2008.
As per provisional data, foreign funds sold shares worth a net Rs 56.52 crore on Tuesday, 15 April 2008. Domestic funds purchased shares worth a net Rs 13.27 crore on that day.
FIIs were net sellers of Rs 795.13 crore in the futures & options segment on Tuesday, 15 April 2008. They were net sellers of index futures to the tune of Rs 738.58 crore and bought index options worth Rs 302.18 crore. They were net sellers of stock futures to the tune of Rs 361.57 crore and bought stock options worth Rs 2.84 crore.
Crude oil prices slipped today, 16 April 2008, after the US dollar rose on surprisingly robust US economic data. US light crude fell 28 cents to $113.51 a barrel, off Tuesday's record high of $114.08. London Brent crude fell 38 cents to $111.20 a barrel.
Friday, April 11, 2008
WE WILL SEE GAP UP AS SAID YESTERDAY
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Thursday, April 10, 2008
Market may remain range bound
Everything Spurt Like Rocket
YESTERDAY all are calls rocked long as well as short
OUR TRADING CALL OF ONMOBILE FLARED EXACTLY AS PER OUR PREDICTION, AND HIT EXACTLY 609 , OUR TARGET WAS 608 , WE HOPE U ENJOYED.
* OUR TRADING CALL OF MOSER BAER ALSO FLARED AND COMPLETES IT'S DAY TARGET OF 170 , 173, WE HOPE U ENJOYED.
* OUR TRADING CALL OF TULSI , ALSO FLARED AND HIT 88.50 MARK.
* OUR TRADING CALL OF SKUMAR NATIONWIDE , FLARED UPTO 105.40 MARK.
* OUR TRADING CALL OF YES BANK, FLARED UPTO 172 MARK.
* OUR CLIENT'S SPECIAL CALL OF BHEL, FLARED LIKE ANYTHING AND HIT 1786 MARK. IT'S WAS OUR BTST CALL , CALL SENT AROUND 1715 LEVEL ON TUESDAY.
SHORT ORCHID FELL UPTO 211 FROM 240
FOR TODAY
BUY NIIT TECH, COMPETENT AUTO,POLARIS,BOI
The market range is getting narrower which is a good sign and stop losses are getting smaller, The level to watch now is 4628 for the Nifty which is a strong support, If Nifty can breakout of 4820-4840 and Sensex at 16010-1050, then we can see new highs of 5000 on Nifty and 17100 on Sensex
Its the same thing which is still repeating in the markets what has been going on and
the expectation of a range bound market still continues. Three days in this week have passed and we have seen red and green on alternate days and that shows the undecidedness of any proper trend.
At a time when there has been uncertainty about outlook on corporate earnings, forecast-beating results of private sector bank Yes Bank announced during trading hours lifted the market on Wednesday, 9 April 2008. Yes Bank also said it had no delinquent derivatives exposures. Fears that banks may take a hit in their balance sheet because of foreign exchange derivative losses have triggered a steep fall in banking shares over the past few weeks. Yes Bank results helped reduce the fear.
Concerns about corporate and bank earnings heightened after recent disclosures from ICICI Bank, India’s biggest private sector bank in terms of net profit and Larsen & Toubro, India’s biggest engineering & construction firm by revenue. On 4 March 2008, ICICI Bank said it had provided $70 million in Q3 December 2007 and may have to provide another $50 million in Q4 March 2008 for mark-to-market losses on investments. A few days later L&T said one of its subsidiaries L&T International FZE, may incur commodity-hedging-losses of as much as Rs 200 crore in the year ended March 2008.
What added to the gloom regarding corporate earnings was lower-than-expected provisional results announced by Bharat Heavy Electrical (Bhel), India’s biggest power equipment firm by revenue, recently. Slower than expected execution rate and project specific delays could be the reasons for the lower-than-expected growth in the top line of Bhel.
Recent government action to rein in inflation has also added to uncertainty about outlook on corporate profits. The government has scrapped import duty on crude edible oil and banned the export of rice and pulses. It also surged steelmakers to cut prices of the alloy.
Asian stocks were mixed today. Key benchmark indices in Hong Kong, Taiwan and South Korea were up by between 0.04% to 1.3%. Key benchmark indices in China, Japan and Singapore were down by between 0.2% to 0.9%.
YESTERDAY all are calls rocked long as well as short
OUR TRADING CALL OF ONMOBILE FLARED EXACTLY AS PER OUR PREDICTION, AND HIT EXACTLY 609 , OUR TARGET WAS 608 , WE HOPE U ENJOYED.
* OUR TRADING CALL OF MOSER BAER ALSO FLARED AND COMPLETES IT'S DAY TARGET OF 170 , 173, WE HOPE U ENJOYED.
* OUR TRADING CALL OF TULSI , ALSO FLARED AND HIT 88.50 MARK.
* OUR TRADING CALL OF SKUMAR NATIONWIDE , FLARED UPTO 105.40 MARK.
* OUR TRADING CALL OF YES BANK, FLARED UPTO 172 MARK.
* OUR CLIENT'S SPECIAL CALL OF BHEL, FLARED LIKE ANYTHING AND HIT 1786 MARK. IT'S WAS OUR BTST CALL , CALL SENT AROUND 1715 LEVEL ON TUESDAY.
SHORT ORCHID FELL UPTO 211 FROM 240
FOR TODAY
BUY NIIT TECH, COMPETENT AUTO,POLARIS,BOI
The market range is getting narrower which is a good sign and stop losses are getting smaller, The level to watch now is 4628 for the Nifty which is a strong support, If Nifty can breakout of 4820-4840 and Sensex at 16010-1050, then we can see new highs of 5000 on Nifty and 17100 on Sensex
Its the same thing which is still repeating in the markets what has been going on and
the expectation of a range bound market still continues. Three days in this week have passed and we have seen red and green on alternate days and that shows the undecidedness of any proper trend.
At a time when there has been uncertainty about outlook on corporate earnings, forecast-beating results of private sector bank Yes Bank announced during trading hours lifted the market on Wednesday, 9 April 2008. Yes Bank also said it had no delinquent derivatives exposures. Fears that banks may take a hit in their balance sheet because of foreign exchange derivative losses have triggered a steep fall in banking shares over the past few weeks. Yes Bank results helped reduce the fear.
Concerns about corporate and bank earnings heightened after recent disclosures from ICICI Bank, India’s biggest private sector bank in terms of net profit and Larsen & Toubro, India’s biggest engineering & construction firm by revenue. On 4 March 2008, ICICI Bank said it had provided $70 million in Q3 December 2007 and may have to provide another $50 million in Q4 March 2008 for mark-to-market losses on investments. A few days later L&T said one of its subsidiaries L&T International FZE, may incur commodity-hedging-losses of as much as Rs 200 crore in the year ended March 2008.
What added to the gloom regarding corporate earnings was lower-than-expected provisional results announced by Bharat Heavy Electrical (Bhel), India’s biggest power equipment firm by revenue, recently. Slower than expected execution rate and project specific delays could be the reasons for the lower-than-expected growth in the top line of Bhel.
Recent government action to rein in inflation has also added to uncertainty about outlook on corporate profits. The government has scrapped import duty on crude edible oil and banned the export of rice and pulses. It also surged steelmakers to cut prices of the alloy.
Asian stocks were mixed today. Key benchmark indices in Hong Kong, Taiwan and South Korea were up by between 0.04% to 1.3%. Key benchmark indices in China, Japan and Singapore were down by between 0.2% to 0.9%.
Wednesday, April 9, 2008
Reliance capital to see action
Nifty big support at 4600 buy with this sl for target 4750
Stock on radar- Tulsi,Onmobile,Skumar,Yes bank,Renuka
Fertilizer Stock to move
Bindas short Orchid chemical in lots
To know more Subscribe
State Bank of India has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two are a German firm and a US-based firm, the reports suggested.
GTL Infrastructure is reportedly in talks with Essar Telecom Infrastructure for a possible merger. A final decision is expected in about 3 to 4 weeks time, the reports said.
Yes Bank, Honeywell Automation and Mastek among others will declare their March 2008 ended quarterly results today.
Hindustan Unilever (HUL) has reportedly cut prices of three of its soap brands—Lux, Hamam and Rexona. The price reduction by HUL is being termed as a post-budget measure to please consumers, the reports added. The excise duty on soaps was reduced by a margin of 2-14% in the union budget for 2008-09.
Areva T&D India on Tuesday, 8 April 2008 said it has secured a Rs 418 crore from Essar Constructions to provide equipment to the latter's power plant projects in Gujarat and Madhya Pradesh.
Britannia is reportedly expected to sell its 22-acre property in Padi, an old manufacturing hub north of Chennai. This follows the suspension of operations at the company’s plant located in the region. The company informed the Bombay Stock Exchange (BSE) on Tuesday that it has suspended operations effective 7 April 2008 at its Padi unit after the majority of workers accepted the company’s voluntary retirement scheme offer.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there. Infosys unveils Q4 results on Tuesday, 15 April 2008.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore (till 4 April 2008), to offset their huge losses in the US sub-prime mortgage market. As per provisional data, FIIs bought shares worth a net Rs 7.27 crore on Tuesday, 8 April 2008.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 447.79 crore on Tuesday, 8 April 2008.
Stock on radar- Tulsi,Onmobile,Skumar,Yes bank,Renuka
Fertilizer Stock to move
Bindas short Orchid chemical in lots
To know more Subscribe
State Bank of India has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two are a German firm and a US-based firm, the reports suggested.
GTL Infrastructure is reportedly in talks with Essar Telecom Infrastructure for a possible merger. A final decision is expected in about 3 to 4 weeks time, the reports said.
Yes Bank, Honeywell Automation and Mastek among others will declare their March 2008 ended quarterly results today.
Hindustan Unilever (HUL) has reportedly cut prices of three of its soap brands—Lux, Hamam and Rexona. The price reduction by HUL is being termed as a post-budget measure to please consumers, the reports added. The excise duty on soaps was reduced by a margin of 2-14% in the union budget for 2008-09.
Areva T&D India on Tuesday, 8 April 2008 said it has secured a Rs 418 crore from Essar Constructions to provide equipment to the latter's power plant projects in Gujarat and Madhya Pradesh.
Britannia is reportedly expected to sell its 22-acre property in Padi, an old manufacturing hub north of Chennai. This follows the suspension of operations at the company’s plant located in the region. The company informed the Bombay Stock Exchange (BSE) on Tuesday that it has suspended operations effective 7 April 2008 at its Padi unit after the majority of workers accepted the company’s voluntary retirement scheme offer.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there. Infosys unveils Q4 results on Tuesday, 15 April 2008.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore (till 4 April 2008), to offset their huge losses in the US sub-prime mortgage market. As per provisional data, FIIs bought shares worth a net Rs 7.27 crore on Tuesday, 8 April 2008.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 447.79 crore on Tuesday, 8 April 2008.
Tuesday, April 8, 2008
Markets are likely to trade range bound
Buy Hindustan Oil at Rs.130/128, with a stop of Rs.125. The scrip is headed for Rs.139. The key level is Rs.134.50.
Stock market - Keep eyes on India Bulls securities, Essar oil, Rel capital
Ranbaxy group company is reported to have bought 8% stake of Orchid Chemicals recently which is about half of present promoters stake of 16%. Is Orchid Chem a take-over target?
NIFTY did hold on today’s session. Now more shorts to cover if NIFTY holds 4800 level in next sessions though many traders said that today’s movement wasn’t healthy. FIIs were net buyer. Now let’s see how next sessions will spans out
For more subscribe and let online calls on mobile and messenger
Reliance Industries may see action
Consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Solrex Pharmaceutical, which reportedly belongs to Ranbaxy Group, has acquired 9.54% stake in the Chennai-based Orchid Chemicals & Pharmaceuticals. Solrex Pharmaceutical bought 9.72 lakh shares of Orchid Chemicals at Rs 196.13 each, as per the latest data on the BSE.
Bharat Forge has reportedly acquired 89% stake in French forgings company Groupe Sifcor (Society of Industrial and Financial Courcelles). The acquisition will give Bharat Forge an entry into the French automotive sector and access to big Sifcor clients like PSA Citroen and Renault, the reports suggested.
IOL Chemicals & Pharmaceuticals has reportedly decided to sell 5% stake to private-equity funds to raise some Rs 80 crore. The company has already begun talks with four overseas private-equity funds based in Singapore and the US, the reports suggested.
The board of Linc Pen & Plastics at the meeting held on 7 April 2008 approved the proposed merger of Shree Writing Aids into the company.
State-run refiners Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation may see action after US crude futures traded around $109 a barrel
At home, the next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
Sensex jumped 413.96 points or 2.7% at 15,757.08 on Monday, 7 April 2008, on positive cues from the Asian markets.
As per provisional data, foreign funds bought shares worth a net Rs 346.04 crore on Monday, 7 April 2008. Domestic funds bought shares worth a net Rs 245.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 413.84 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 293.33 crore and bought index options worth Rs 102.55 crore. They were net buyers of stock futures to the tune of Rs 18.17 crore and sold stock options worth Rs 0.21 crore.
In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore, to offset their huge losses in the US sub-prime mortgage market.
Stock market - Keep eyes on India Bulls securities, Essar oil, Rel capital
Ranbaxy group company is reported to have bought 8% stake of Orchid Chemicals recently which is about half of present promoters stake of 16%. Is Orchid Chem a take-over target?
NIFTY did hold on today’s session. Now more shorts to cover if NIFTY holds 4800 level in next sessions though many traders said that today’s movement wasn’t healthy. FIIs were net buyer. Now let’s see how next sessions will spans out
For more subscribe and let online calls on mobile and messenger
Reliance Industries may see action
Consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Solrex Pharmaceutical, which reportedly belongs to Ranbaxy Group, has acquired 9.54% stake in the Chennai-based Orchid Chemicals & Pharmaceuticals. Solrex Pharmaceutical bought 9.72 lakh shares of Orchid Chemicals at Rs 196.13 each, as per the latest data on the BSE.
Bharat Forge has reportedly acquired 89% stake in French forgings company Groupe Sifcor (Society of Industrial and Financial Courcelles). The acquisition will give Bharat Forge an entry into the French automotive sector and access to big Sifcor clients like PSA Citroen and Renault, the reports suggested.
IOL Chemicals & Pharmaceuticals has reportedly decided to sell 5% stake to private-equity funds to raise some Rs 80 crore. The company has already begun talks with four overseas private-equity funds based in Singapore and the US, the reports suggested.
The board of Linc Pen & Plastics at the meeting held on 7 April 2008 approved the proposed merger of Shree Writing Aids into the company.
State-run refiners Indian Oil Corporation, Bharat Petroleum Corporation, Hindustan Petroleum Corporation may see action after US crude futures traded around $109 a barrel
At home, the next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
Sensex jumped 413.96 points or 2.7% at 15,757.08 on Monday, 7 April 2008, on positive cues from the Asian markets.
As per provisional data, foreign funds bought shares worth a net Rs 346.04 crore on Monday, 7 April 2008. Domestic funds bought shares worth a net Rs 245.93 crore on that day.
Foreign institutional investors (FIIs) were net buyers of Rs 413.84 crore in the futures & options segment on Monday. According to data released by the NSE, FIIs were net buyers of index futures to the tune of Rs 293.33 crore and bought index options worth Rs 102.55 crore. They were net buyers of stock futures to the tune of Rs 18.17 crore and sold stock options worth Rs 0.21 crore.
In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore, to offset their huge losses in the US sub-prime mortgage market.
Monday, April 7, 2008
Friday, April 4, 2008
Market may remain lackluster
1300 points corrections up or down ??
Sell Yes bank with stop loss 165 target Rs 135
For more log to
http://www.freewebs.com/jgs-investments/marketwhisper.htm
Sell Yes bank with stop loss 165 target Rs 135
For more log to
http://www.freewebs.com/jgs-investments/marketwhisper.htm
Thursday, April 3, 2008
Recession…Its official
Today, Nifty has support at 4,623 and resistance at 4,819 and BSE Sensex has support at 15,314 and resistance at 15,993
Buy NDTV (391)
Buy Tata Chem (289)
Buy Cent Textile (742)
Sell Nalco (448)
Sell Tulip (841)
Target and sl for clients only
we see the key indices in India opening on a cautious note. Yesterday, the bulls could not hang on to strong gains made in the morning though Asian markets were on a strong wicket. Traded volume improved over the Tuesday's session but remain quite pathetic to say the least. And, if the withdrawal of the STT benefit under Section 88E was not enough the street was abuzz with rumours of rationalisation in stamp duty. According to some market observers, that may have led to the steep fall in the key indices from the day's high. Having said that, we would refrain from speculation. As far as the market trend is concerned, much will continue to hinge on the emerging global equations, fund flows, local economic outlook and of course on corporate earnings and guidance for the current fiscal year.
We see the market rangebound within a couple of thousand points and choppy in the near term. No major breakout is expected till things start to stabilise, both locally as well as globally. The next few months will be painful for the bulls, though there will always be opportunities to pick up good quality stocks for the long haul which one should be careful in judging. Stick to the large caps as you build your portfolio. A small portion you may punt in mid-caps. Shares of Gammon Infrastructure Projects will get listed on the bourses today.
The steel stocks lost their shine after reports stated that the government would direct the steel manufacturers to cut prices by 10-20% in a month. Tata Steel slipped 3.2% to Rs645, Tata Sponge declined 1.6% to Rs248, Jindal Steel was down 2% to Rs1973 and SAIL lost 4% to Rs167.
Airline stocks gained altitude after media reports stated that the airline companies would hike fares following an increase in jet fuel prices. Spice Jet edged higher by 0.5% to Rs41, Jet Airways was flat at Rs547.
Spice Telecom rallied by over 10% to Rs33 after media reports stated that Mr Modi, Chairman and Managing Director want to dilute promoter holding in Spice Telecom in favour of foreign players UAE's Telecommunications Corporation Etisalat. The total promoter holding in Spice Telecom is 40.8%. The scrip touched an intra-day high of Rs36 and a low of Rs32 and recorded volumes of over 37,00,000 shares on BSE.
Prithvi Info edged lower by 0.5% to Rs155. The company said that the company secured Rs120mn order from Huwei. The scrip touched an intra-day high of Rs163 and a low of Rs154 and recorded volumes of over 58,000 shares on BSE.
GTL gained by a percent to Rs259 after the company announced that the founders raised their stake to 39.31% in the company. The scrip touched an intra-day high of Rs263 and a low of Rs255 and recorded volumes of over 24,000 shares on BSE.
Steel Stripes Wheels, manufacturers of single steel wheel rims, surged by over 3.5% to Rs174 after the company declared its March sales rose 30.7% to 5,53,000. The company also announced its March production which rose 30.2% to 5,56,000 units. The scrip touched an intra-day high of Rs174 and a low of Rs168.
Era Infrastructure marginally gained 0.2% to Rs587 after the company announced that it secured order worth Rs40mn from Jeet Builders. The scrip touched an intra-day high of Rs610 and a low of Rs555 and recorded volumes of over 51,000 shares on BSE.
Bank of Maharashtra was up by a over 3% to Rs50. The Bank's decision to establish General Insurance Joint Venture in partnership with M/s. Shriram Financial Services Holdings P Ltd, Chennai and Sanlam Ltd of South Africa, could not be finalized as per the Bank's requirement and hence the Bank has opted out of the said Joint Venture. The scrip touched an intra-day high of Rs51 and a low of Rs49 and recorded volumes of over 33,000 shares on BSE.
IVRCL Infrastructures advanced by over 2% to Rs394 after the company announced that the Buildings & Industrial Structure (B & IS) Division bagged orders of the value of Rs4.84bn. Scope of Work:- Construction of various Buildings varying from G+4 to G+25, approximate Construction Area of 40 Lacs Sq. ft, out of total Integrated Township of approximate 1.2 Crore Sq. ft construction area in 237 acres of land located on the Bank of River Ganges at New Bata Road, Batanagar, Mahestala, Kolkata, to be completed in 42 months. The scrip touched an intra-day high of Rs420 and a low of Rs387 and recorded volumes of over 1,00,000 shares on BSE.
FIIs were net sellers of Rs1.36bn (provisional) in the cash segment yesterday while local institutions pumped in Rs2.64bn. In the F&O segment, foreign funds were net buyers of Rs17.73bn yesterday.
On Tuesday, FIIs were net sellers of Rs11.88bn in the cash segment. Mutual Funds were also net sellers of Rs2.85bn on the same day.
Corporate News
HUL announces a performance-linked bonus along with a steep hike in salaries to its top management.
Tata Motors planning to raise 100bn yen on Tokyo exchange.
NTPC plans to enter into captive power generation and retail distribution in the upcoming SEZs.
TCS to invest Rs9bn in Pune to create a capacity for 20,000 seats over next three years.
A consortium of M&M and ICICI Ventures signed definitive agreement to buy 100% in Italian gear maker Metalcastello.
GMR Infra plans to raise US$3bn over the next 4-5 years to fund expansion of power projects.
NTPC has signed a JV with a state entity in Uttar Pradesh to set-up a 1,320 MW power plant.
American Tower Company (ATC) is close to investing in tower entity of Tata Tele.
Suzlon Energy’s US arm bags a contract to supply 200MW from a local company.
IVRCL’s buildings and industrial structure division wins orders worth Rs4.84bn.
TVS Motors plan to sell 60,000 electric scooters in 2008-09.
Welspun Gujarat is setting-up a new 0.3mtpa facility in the US.
Voltas wins a contract from a UAE-based company for construction of a cooling plant at the Dubai International Financial Centre.
Suzlon’s January-March results may see a hit due to company’s forex exposure.
Telekom Malaysia might partner with strategic investors to increase their combined stake in Spice Communications to 74%.
Gateway Distrparks’ arm to raise Rs3.3bn from private equity investors.
Provogue lines up JV for foray into infrastructure.
Maytas Consortium to build two airports for Rs2bn in Karnataka.
Royal Orchid Hotels has acquired a 50% stake in Cosmos Premises Pvt Ltd which owns Galaxy Resorts in Goa.
Steel Strips Wheels Ltd gets an order of Rs1.1bn for supply of about 1mn steel wheel rims over five years from Renault.
Zensar Technologies is targeting over 10% of revenues from West Asia and South Africa.
Koutons Retail promoters are looking at diluting 5-7% stake in 2009-10 to raise funds for more than doubling the number of exclusive outlets by 2011.
Economy News
Government has asked cold rolled (CR) steel makers to voluntarily reduce prices
Government is considering a ban on cement exports.
Retail rentals see little or no growth in Delhi NCR, Bangalore, Hyderabad and Kolkata while continue to soar in Mumbai in the past six months.
Railways increases freight rates on iron ore transportation by 5-6%.
Industrial output growth to dip further to 3.4% in April-July 2008 says Assocham.
Buy NDTV (391)
Buy Tata Chem (289)
Buy Cent Textile (742)
Sell Nalco (448)
Sell Tulip (841)
Target and sl for clients only
we see the key indices in India opening on a cautious note. Yesterday, the bulls could not hang on to strong gains made in the morning though Asian markets were on a strong wicket. Traded volume improved over the Tuesday's session but remain quite pathetic to say the least. And, if the withdrawal of the STT benefit under Section 88E was not enough the street was abuzz with rumours of rationalisation in stamp duty. According to some market observers, that may have led to the steep fall in the key indices from the day's high. Having said that, we would refrain from speculation. As far as the market trend is concerned, much will continue to hinge on the emerging global equations, fund flows, local economic outlook and of course on corporate earnings and guidance for the current fiscal year.
We see the market rangebound within a couple of thousand points and choppy in the near term. No major breakout is expected till things start to stabilise, both locally as well as globally. The next few months will be painful for the bulls, though there will always be opportunities to pick up good quality stocks for the long haul which one should be careful in judging. Stick to the large caps as you build your portfolio. A small portion you may punt in mid-caps. Shares of Gammon Infrastructure Projects will get listed on the bourses today.
The steel stocks lost their shine after reports stated that the government would direct the steel manufacturers to cut prices by 10-20% in a month. Tata Steel slipped 3.2% to Rs645, Tata Sponge declined 1.6% to Rs248, Jindal Steel was down 2% to Rs1973 and SAIL lost 4% to Rs167.
Airline stocks gained altitude after media reports stated that the airline companies would hike fares following an increase in jet fuel prices. Spice Jet edged higher by 0.5% to Rs41, Jet Airways was flat at Rs547.
Spice Telecom rallied by over 10% to Rs33 after media reports stated that Mr Modi, Chairman and Managing Director want to dilute promoter holding in Spice Telecom in favour of foreign players UAE's Telecommunications Corporation Etisalat. The total promoter holding in Spice Telecom is 40.8%. The scrip touched an intra-day high of Rs36 and a low of Rs32 and recorded volumes of over 37,00,000 shares on BSE.
Prithvi Info edged lower by 0.5% to Rs155. The company said that the company secured Rs120mn order from Huwei. The scrip touched an intra-day high of Rs163 and a low of Rs154 and recorded volumes of over 58,000 shares on BSE.
GTL gained by a percent to Rs259 after the company announced that the founders raised their stake to 39.31% in the company. The scrip touched an intra-day high of Rs263 and a low of Rs255 and recorded volumes of over 24,000 shares on BSE.
Steel Stripes Wheels, manufacturers of single steel wheel rims, surged by over 3.5% to Rs174 after the company declared its March sales rose 30.7% to 5,53,000. The company also announced its March production which rose 30.2% to 5,56,000 units. The scrip touched an intra-day high of Rs174 and a low of Rs168.
Era Infrastructure marginally gained 0.2% to Rs587 after the company announced that it secured order worth Rs40mn from Jeet Builders. The scrip touched an intra-day high of Rs610 and a low of Rs555 and recorded volumes of over 51,000 shares on BSE.
Bank of Maharashtra was up by a over 3% to Rs50. The Bank's decision to establish General Insurance Joint Venture in partnership with M/s. Shriram Financial Services Holdings P Ltd, Chennai and Sanlam Ltd of South Africa, could not be finalized as per the Bank's requirement and hence the Bank has opted out of the said Joint Venture. The scrip touched an intra-day high of Rs51 and a low of Rs49 and recorded volumes of over 33,000 shares on BSE.
IVRCL Infrastructures advanced by over 2% to Rs394 after the company announced that the Buildings & Industrial Structure (B & IS) Division bagged orders of the value of Rs4.84bn. Scope of Work:- Construction of various Buildings varying from G+4 to G+25, approximate Construction Area of 40 Lacs Sq. ft, out of total Integrated Township of approximate 1.2 Crore Sq. ft construction area in 237 acres of land located on the Bank of River Ganges at New Bata Road, Batanagar, Mahestala, Kolkata, to be completed in 42 months. The scrip touched an intra-day high of Rs420 and a low of Rs387 and recorded volumes of over 1,00,000 shares on BSE.
FIIs were net sellers of Rs1.36bn (provisional) in the cash segment yesterday while local institutions pumped in Rs2.64bn. In the F&O segment, foreign funds were net buyers of Rs17.73bn yesterday.
On Tuesday, FIIs were net sellers of Rs11.88bn in the cash segment. Mutual Funds were also net sellers of Rs2.85bn on the same day.
Corporate News
HUL announces a performance-linked bonus along with a steep hike in salaries to its top management.
Tata Motors planning to raise 100bn yen on Tokyo exchange.
NTPC plans to enter into captive power generation and retail distribution in the upcoming SEZs.
TCS to invest Rs9bn in Pune to create a capacity for 20,000 seats over next three years.
A consortium of M&M and ICICI Ventures signed definitive agreement to buy 100% in Italian gear maker Metalcastello.
GMR Infra plans to raise US$3bn over the next 4-5 years to fund expansion of power projects.
NTPC has signed a JV with a state entity in Uttar Pradesh to set-up a 1,320 MW power plant.
American Tower Company (ATC) is close to investing in tower entity of Tata Tele.
Suzlon Energy’s US arm bags a contract to supply 200MW from a local company.
IVRCL’s buildings and industrial structure division wins orders worth Rs4.84bn.
TVS Motors plan to sell 60,000 electric scooters in 2008-09.
Welspun Gujarat is setting-up a new 0.3mtpa facility in the US.
Voltas wins a contract from a UAE-based company for construction of a cooling plant at the Dubai International Financial Centre.
Suzlon’s January-March results may see a hit due to company’s forex exposure.
Telekom Malaysia might partner with strategic investors to increase their combined stake in Spice Communications to 74%.
Gateway Distrparks’ arm to raise Rs3.3bn from private equity investors.
Provogue lines up JV for foray into infrastructure.
Maytas Consortium to build two airports for Rs2bn in Karnataka.
Royal Orchid Hotels has acquired a 50% stake in Cosmos Premises Pvt Ltd which owns Galaxy Resorts in Goa.
Steel Strips Wheels Ltd gets an order of Rs1.1bn for supply of about 1mn steel wheel rims over five years from Renault.
Zensar Technologies is targeting over 10% of revenues from West Asia and South Africa.
Koutons Retail promoters are looking at diluting 5-7% stake in 2009-10 to raise funds for more than doubling the number of exclusive outlets by 2011.
Economy News
Government has asked cold rolled (CR) steel makers to voluntarily reduce prices
Government is considering a ban on cement exports.
Retail rentals see little or no growth in Delhi NCR, Bangalore, Hyderabad and Kolkata while continue to soar in Mumbai in the past six months.
Railways increases freight rates on iron ore transportation by 5-6%.
Industrial output growth to dip further to 3.4% in April-July 2008 says Assocham.
Wednesday, April 2, 2008
Sensex to Roar 700-800 points
IT sector with Reliance pack to run ,Buy nifty on opening for.....
For more log to
http://www.freewebs.com/jgs-investments/marketwhisper.htm
Subscribe and earn money with us
For more log to
http://www.freewebs.com/jgs-investments/marketwhisper.htm
Subscribe and earn money with us
Tuesday, April 1, 2008
Worries inflate, but a better day!
Yesterday we boldy mention BTST Nifty,Tcs,Voltas See today
Market will open gap UP
For more visit
http://www.freewebs.com/jgs-investments/marketwhisper.htm
Market will open gap UP
For more visit
http://www.freewebs.com/jgs-investments/marketwhisper.htm
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