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Tuesday, May 27, 2008
IT majors are likely to move the indices
Who Cares(Negative Market)
Call's Achieving Target , What's More u Want
See Nifty 5000 by expiry
Nifty (4875) Supp 4830 Res 4958
LANCO INFRA Buy Around 517 to 518 .............
CAIRN INDIA Buy Around 307 to 308 ..........
Eicher Motors Buy Around 385 to 390 .........
GTL INFRA Buy around 52.70 to 52.90 .......
Target For Paid clients only
Today's Pick - Central Bank of India
We recommend a sell in Central Bank of India from a short-term perspective. It is evident from the charts that the stock has been on an intermediate-term downtrend from its 52-week-high of Rs 154 recorded in early January 2008. However, after marking a one-year low at Rs 73 in March, the stock began moving higher till it encountered resistance at around Rs 100 level.
Subsequently, the stock failed to exceed that resistance level and resumed the downtrend. The daily and weekly relative strength indices are featuring in the bearish zone. Besides, the moving average convergence and divergence has re-entered the negative territory indicating bearishness. The stock is also trading well below the 21 and 50-day moving averages at present. In the short-term, we are bearish on the stock and expect it to decline further until it hits our price target of Rs 78 in the coming days. Traders with short-term perspective can sell the stock while keeping the stop-loss at Rs 89
Corporate News
Reliance Power and GMR Infrastructure are planning to bid for PowerSeraya and Senoko Power, which account for more than 60% of the power produced in Singapore. (BS)
TCS has signed a five-year deal worth US$100mn with NXP Semiconductors. (ET)
Reliance Industries is in talks with PSU oil refining companies to sell its crude oil to be produced from MA field in its prolific D6 Block in offshore Krishna-Godavari Basin. (DNA)
Indiabulls Real Estate plans to sell 353mn shares of Indiabulls Properties Investment Trust at between US$1 and US$1.1 apiece. (DNA)
Taj GVK plans to invest over Rs5bn in its existing and new properties in south India over the next 2-3 years. (DNA)
NMDC may review exports to Japanese steel mills and South Korea's Posco to increase domestic availability of iron ore. (BS)
Tata Chemicals has launched Tata Salt Lite, a new brand of low sodium salt. (BL)
Eicher Goodearth Investments, the holding company of Eicher Motors, plans to buy back 13.12% of public holding at Rs691.68/share. (ET)
Eicher Motors plans to buy back the 3.6% stake held by German auto major Daimler Motors. (ET)
Tata Motors is in the process of re-organizing its manufacturing facilities for commercial vehicles, and intends to create hubs for a particular category of vehicle at each of its various production units. (BL)
Educomp Solutions is planning to raise US$500mn through ADR, GDR, FCCB, or QIP. (BL)
Omaxe is entering into power generation by forming a JV with Isolux, a Spanish firm. (ET)
Kirloskar Electric bids for acquiring German’s Lloyd Dynamowerke at an estimated enterprise valuation of ~US$100mn. (ET)
Amara Raja Batteries has forayed into two-wheeler battery segment. (ET)
Apollo Hospitals is scouting for inorganic opportunities in Spain and Peru. (ET)
HTMT Global plans to acquire a mortgage-specific company in the UK soon with an investment of over US$150mn. (DNA)
Warburg Pincus-controlled WNS Holdings is working on an outright acquisition or a strategic merger with Firstsource Solutions. (ET)
UTV New Media, the digital media arm of UTV Software is acquiring a controlling stake of 76% in 'IT Nation', a leading online infomediary. (ET)
Power Finance Corp.’s subsidiary PFC Consulting has formed three SPVs, for power projects in Orissa. (Mint)
Videocon may merge some of its factories to improve efficiencies and boost sales in a bid to gain an upper hand on competitors Samsung, Whirlpool and LG. (BS)
Fidelity Mutual fund has acquired a further 1.55% stake in Jyothy Labs, raising its holding to 5%. (ET)
RPG Group plans to invest Rs90bn in the power, tyre and carbon black industries as part of its expansion in the coming two years. (ET)
The Essel group owned Dish TV, is aiming to double its customer base to two lakh a month. (ET)
Leading Australian financial services firm Link Group plans to acquire a majority stake in Intime Spectrum Registry. (ET)
Harrisons Malayalam is planning to invest Rs560mn in its various plantations in Kerala. (BS)
Over 650 drugmakers have asked the Government to immediately increase prices of 33 bulk drugs. (ET)
BlackBerry vendor Research-In Motion (RIM) is not willing to hand over the message encryption key to the Government. (ET)
Economic News
The DoT has called a meeting with operators on May 28 to discuss the allocation and pricing of 3G spectrum. (BS)
The Finance Act 2008 has modified and rationalised the CENVAT Credit Rules, 2004 (Credit Rules) and removed some anomalies. (BS)
The Government may consider 49% FDI in gems & jewellery and apparel. (ET)
The Government is working on a dual track strategy of fuel price hikes and duty cuts to protect consumers as well as cash strapped oil companies. (ET)
The Gujarat government is planning to invite private companies to invest in five new power projects worth Rs200bn during the upcoming Vibrant Gujarat Global Investors' Summit. (BS)
Cotton production outlook for the next season (August-July) has been kept unchanged at a record 33mn bales (of 170 kg each). (BL)
SEBI has proposed a maximum post-issue capital of Rs250mn for companies to be eligible to participate in the proposed SME exchange. (BL)
The Himachal Pradesh Government has sought the Centre’s approval to levy generation tax on hydropower projects in the state and extension of the industrial package till 2013. (Mint)
India could miss by 20%, or 13,855MW, its target of adding almost 70,000MW of power over the next four years because of poor transport infrastructure. (Mint)
A shortage of globally-recognized testing labs could impact India’s drugs and chemical exports to Europe, worth some US$2.7bn in 2007
Call's Achieving Target , What's More u Want
See Nifty 5000 by expiry
Nifty (4875) Supp 4830 Res 4958
LANCO INFRA Buy Around 517 to 518 .............
CAIRN INDIA Buy Around 307 to 308 ..........
Eicher Motors Buy Around 385 to 390 .........
GTL INFRA Buy around 52.70 to 52.90 .......
Target For Paid clients only
Today's Pick - Central Bank of India
We recommend a sell in Central Bank of India from a short-term perspective. It is evident from the charts that the stock has been on an intermediate-term downtrend from its 52-week-high of Rs 154 recorded in early January 2008. However, after marking a one-year low at Rs 73 in March, the stock began moving higher till it encountered resistance at around Rs 100 level.
Subsequently, the stock failed to exceed that resistance level and resumed the downtrend. The daily and weekly relative strength indices are featuring in the bearish zone. Besides, the moving average convergence and divergence has re-entered the negative territory indicating bearishness. The stock is also trading well below the 21 and 50-day moving averages at present. In the short-term, we are bearish on the stock and expect it to decline further until it hits our price target of Rs 78 in the coming days. Traders with short-term perspective can sell the stock while keeping the stop-loss at Rs 89
Corporate News
Reliance Power and GMR Infrastructure are planning to bid for PowerSeraya and Senoko Power, which account for more than 60% of the power produced in Singapore. (BS)
TCS has signed a five-year deal worth US$100mn with NXP Semiconductors. (ET)
Reliance Industries is in talks with PSU oil refining companies to sell its crude oil to be produced from MA field in its prolific D6 Block in offshore Krishna-Godavari Basin. (DNA)
Indiabulls Real Estate plans to sell 353mn shares of Indiabulls Properties Investment Trust at between US$1 and US$1.1 apiece. (DNA)
Taj GVK plans to invest over Rs5bn in its existing and new properties in south India over the next 2-3 years. (DNA)
NMDC may review exports to Japanese steel mills and South Korea's Posco to increase domestic availability of iron ore. (BS)
Tata Chemicals has launched Tata Salt Lite, a new brand of low sodium salt. (BL)
Eicher Goodearth Investments, the holding company of Eicher Motors, plans to buy back 13.12% of public holding at Rs691.68/share. (ET)
Eicher Motors plans to buy back the 3.6% stake held by German auto major Daimler Motors. (ET)
Tata Motors is in the process of re-organizing its manufacturing facilities for commercial vehicles, and intends to create hubs for a particular category of vehicle at each of its various production units. (BL)
Educomp Solutions is planning to raise US$500mn through ADR, GDR, FCCB, or QIP. (BL)
Omaxe is entering into power generation by forming a JV with Isolux, a Spanish firm. (ET)
Kirloskar Electric bids for acquiring German’s Lloyd Dynamowerke at an estimated enterprise valuation of ~US$100mn. (ET)
Amara Raja Batteries has forayed into two-wheeler battery segment. (ET)
Apollo Hospitals is scouting for inorganic opportunities in Spain and Peru. (ET)
HTMT Global plans to acquire a mortgage-specific company in the UK soon with an investment of over US$150mn. (DNA)
Warburg Pincus-controlled WNS Holdings is working on an outright acquisition or a strategic merger with Firstsource Solutions. (ET)
UTV New Media, the digital media arm of UTV Software is acquiring a controlling stake of 76% in 'IT Nation', a leading online infomediary. (ET)
Power Finance Corp.’s subsidiary PFC Consulting has formed three SPVs, for power projects in Orissa. (Mint)
Videocon may merge some of its factories to improve efficiencies and boost sales in a bid to gain an upper hand on competitors Samsung, Whirlpool and LG. (BS)
Fidelity Mutual fund has acquired a further 1.55% stake in Jyothy Labs, raising its holding to 5%. (ET)
RPG Group plans to invest Rs90bn in the power, tyre and carbon black industries as part of its expansion in the coming two years. (ET)
The Essel group owned Dish TV, is aiming to double its customer base to two lakh a month. (ET)
Leading Australian financial services firm Link Group plans to acquire a majority stake in Intime Spectrum Registry. (ET)
Harrisons Malayalam is planning to invest Rs560mn in its various plantations in Kerala. (BS)
Over 650 drugmakers have asked the Government to immediately increase prices of 33 bulk drugs. (ET)
BlackBerry vendor Research-In Motion (RIM) is not willing to hand over the message encryption key to the Government. (ET)
Economic News
The DoT has called a meeting with operators on May 28 to discuss the allocation and pricing of 3G spectrum. (BS)
The Finance Act 2008 has modified and rationalised the CENVAT Credit Rules, 2004 (Credit Rules) and removed some anomalies. (BS)
The Government may consider 49% FDI in gems & jewellery and apparel. (ET)
The Government is working on a dual track strategy of fuel price hikes and duty cuts to protect consumers as well as cash strapped oil companies. (ET)
The Gujarat government is planning to invite private companies to invest in five new power projects worth Rs200bn during the upcoming Vibrant Gujarat Global Investors' Summit. (BS)
Cotton production outlook for the next season (August-July) has been kept unchanged at a record 33mn bales (of 170 kg each). (BL)
SEBI has proposed a maximum post-issue capital of Rs250mn for companies to be eligible to participate in the proposed SME exchange. (BL)
The Himachal Pradesh Government has sought the Centre’s approval to levy generation tax on hydropower projects in the state and extension of the industrial package till 2013. (Mint)
India could miss by 20%, or 13,855MW, its target of adding almost 70,000MW of power over the next four years because of poor transport infrastructure. (Mint)
A shortage of globally-recognized testing labs could impact India’s drugs and chemical exports to Europe, worth some US$2.7bn in 2007
Monday, May 26, 2008
Today's BLACK or WHITE
BLOODTHPATH or RAINPATH
For subscribers only
The stock of Bharti Airtel might see some relief as the company has abandoned plans to acquire MTN Group Ltd after differences with the South African company over control.On the contrary Reliance Communications Ltd might trade on the negative side as it is said to be in talks to combine with South African mobile-phone company MTN Group Ltd.
BUY BHARATI n SELL RCOM MINT PROFIT
As mention on Friday abt BJP won well in advance for the fall see now.....
As per provisional data, foreign funds sold shares worth a net Rs 654.31 crore on Friday, 23 May 2008. Domestic funds bought shares worth a net Rs 750.03 crore on that day.
Inflation based on the whole price index rose 7.82% in the year through 10 May 2008, marginally lower than 7.83% rise in the previous week, government data released on Friday, 23 May 2008, showed. Meanwhile, inflation for the year through 15 March 2008 was revised upwards to 8.02% compared to provisional figure of 6.68%.
Meanwhile, not satisfied with the United Progressive Alliance (UPA's) replies to their queries on the nuclear issue,the Left parties are likely to ask the government to finalise an India-specific safeguards agreement with International Atomic Energy Agency (IAEA) only after the 123 agreement with the US lapses.
The Left opposition to the 123 agreement is because they feel it was bound by the Hyde Act which was detrimental to India's sovereignty and its pursuance of an independent foreign policy. Further talks will be held in the UPA-Left Committee meeting to be held on 28 May 2008 to discuss the Indo-US nuclear deal.
Meanwhile as per results announced for second round of elections on 26 May 2008, the Bharatiya Janata Party (BJP) won 110 seats out of 224, just short of a simple majority. The Congress has won 80 seats and the Janata Dal (Secular) claimed 28. Independents won six seats. In the 28 constituencies of Bangalore, the BJP has won 17 seats, the Congress won nine, and the JD(S) picked up one
For subscribers only
The stock of Bharti Airtel might see some relief as the company has abandoned plans to acquire MTN Group Ltd after differences with the South African company over control.On the contrary Reliance Communications Ltd might trade on the negative side as it is said to be in talks to combine with South African mobile-phone company MTN Group Ltd.
BUY BHARATI n SELL RCOM MINT PROFIT
As mention on Friday abt BJP won well in advance for the fall see now.....
As per provisional data, foreign funds sold shares worth a net Rs 654.31 crore on Friday, 23 May 2008. Domestic funds bought shares worth a net Rs 750.03 crore on that day.
Inflation based on the whole price index rose 7.82% in the year through 10 May 2008, marginally lower than 7.83% rise in the previous week, government data released on Friday, 23 May 2008, showed. Meanwhile, inflation for the year through 15 March 2008 was revised upwards to 8.02% compared to provisional figure of 6.68%.
Meanwhile, not satisfied with the United Progressive Alliance (UPA's) replies to their queries on the nuclear issue,the Left parties are likely to ask the government to finalise an India-specific safeguards agreement with International Atomic Energy Agency (IAEA) only after the 123 agreement with the US lapses.
The Left opposition to the 123 agreement is because they feel it was bound by the Hyde Act which was detrimental to India's sovereignty and its pursuance of an independent foreign policy. Further talks will be held in the UPA-Left Committee meeting to be held on 28 May 2008 to discuss the Indo-US nuclear deal.
Meanwhile as per results announced for second round of elections on 26 May 2008, the Bharatiya Janata Party (BJP) won 110 seats out of 224, just short of a simple majority. The Congress has won 80 seats and the Janata Dal (Secular) claimed 28. Independents won six seats. In the 28 constituencies of Bangalore, the BJP has won 17 seats, the Congress won nine, and the JD(S) picked up one
Friday, May 23, 2008
Nifty our btst what abt u ???
FOR Pre Market Watch - May 23 2008 VISIT
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Paid trial for one week is Rs.1750/-
Add Rs.175/- towards Bank Charges if Depositing Cash
For Intraday service,we are taking 1000 rs fees in advance
( fees of 2-3 calls in advance).
For Positional Calls service, we are taking 1000 rs in advance
( fees of 2-3 call in advance).
Note :
Foreign Clients Please Inform Us By E-Mail After Sending Money Through Western Union Money Transfer About Allocation Number.
Indian Clients Please Inform Us By E-Mail After Sending Money Or After Deposit Of Money In Our ICICI Bank Account.
You will be added in our list instantly
Note -:
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http://www.freewebs.com/jgs-investments/marketwhisper.htm
Paid trial for one week is Rs.1750/-
Add Rs.175/- towards Bank Charges if Depositing Cash
For Intraday service,we are taking 1000 rs fees in advance
( fees of 2-3 calls in advance).
For Positional Calls service, we are taking 1000 rs in advance
( fees of 2-3 call in advance).
Note :
Foreign Clients Please Inform Us By E-Mail After Sending Money Through Western Union Money Transfer About Allocation Number.
Indian Clients Please Inform Us By E-Mail After Sending Money Or After Deposit Of Money In Our ICICI Bank Account.
You will be added in our list instantly
Note -:
Payment
We have HDFC BANK,ICICI BANK Payment options
Thursday, May 22, 2008
Crude as said earlier will cross 138 levels
Airline stocks because of rising oil costs and banking stocks might tumble on the possibility of interest rate hike
Nifty Upper levels 5144,5166 Lower levels – 5066,5033
Keep eyes on Ifci , Praj Ind and Kirloskar Bros for short term investment
Sell Suzlon energy,Sasken communications
Since, the Market is Likely to Open on Lower , Due to Weak Global Cues.
RELIANCE
NATURAL(RNRL)..........
BSE Code : 532709 (113.60)
Buy around 111.10 to 112.30 ..............
MANALI
PETRO......................
BSE Code : 500268 (17.62)
Buy Around 17.62 to 17.70 ..............
NEYVELI
LIGNITE......................
BSE Code : 513683 (151.35
Buy Around 150 to 151 ..............
target for clients so subscribe now
FIIs turn sellers
Foreign institutional investors (FIIs) turned net sellers in equities worth Rs 3,198 million on May 20. They bought equities worth Rs 31,197 million and sold equities worth Rs 34,395 million. Till May 20, they have been net buyers in equities worth Rs 227 million.
FIIs turned net sellers in debt segment worth Rs 490 million on May 20. They did not bought any debt but sold debt worth Rs 490 million. Till May 20, they have been net sellers in debts worth Rs 179 million
Nifty Upper levels 5144,5166 Lower levels – 5066,5033
Keep eyes on Ifci , Praj Ind and Kirloskar Bros for short term investment
Sell Suzlon energy,Sasken communications
Since, the Market is Likely to Open on Lower , Due to Weak Global Cues.
RELIANCE
NATURAL(RNRL)..........
BSE Code : 532709 (113.60)
Buy around 111.10 to 112.30 ..............
MANALI
PETRO......................
BSE Code : 500268 (17.62)
Buy Around 17.62 to 17.70 ..............
NEYVELI
LIGNITE......................
BSE Code : 513683 (151.35
Buy Around 150 to 151 ..............
target for clients so subscribe now
FIIs turn sellers
Foreign institutional investors (FIIs) turned net sellers in equities worth Rs 3,198 million on May 20. They bought equities worth Rs 31,197 million and sold equities worth Rs 34,395 million. Till May 20, they have been net buyers in equities worth Rs 227 million.
FIIs turned net sellers in debt segment worth Rs 490 million on May 20. They did not bought any debt but sold debt worth Rs 490 million. Till May 20, they have been net sellers in debts worth Rs 179 million
Wednesday, May 21, 2008
We r holding Nifty shorts since friday n now see the result
Gapdown Opening Expected...Asian Mkt will Play Important Role
Watch Level 5040 & 5022
Bounceback expected from These levels
Closing Below 5000 TGT 4970-4945-4890
*I always recommend to Carry 5000 Put....If ny Major slide den our Put will Blast
Since, the Market is Likely to Open on Lower , Due to Weak Global Cues.
RELIANCE POWER........................
BSE Code : 532939 (434.80)
Buy
VIDEOCON APPLIANCES...............
BSE Code : 500945 (30.20
Buy Around 30 to 30.10
ADLABS FILMS.........................
BSE Code : 532399 (722.45)
Buy around 715 to 720
Target for clients only
Today's Pick - ENIL
We recommend a buy in Entertainment Network India from a short-term perspective. It is evident from the chart that the Entertainment Network India was on a medium-term downtrend from its December 2007 high of Rs 700 to its March 2008 low of Rs 332.
However, this downtrend appears to have got arrested at around the March low; the stock has been moving higher since then. In the recent times, the stock crossed over the 21 and 50-day moving averages in the daily chart, which is a bullish signal.
The volume, traded over the past two trading sessions, has also been above average. The daily Relative Strength Index is also featuring in the bullish zone.
Besides, the daily moving average convergence and divergence, which is featuring in the positive territory, is also in line with the uptrend.
We are bullish on the stock in the short-term. We expect the stock to move up to our price target of Rs 480 in the forthcoming trading sessions. Investors with short-term perspective can buy the stock while keeping the stop-loss at Rs 410.
Watch Level 5040 & 5022
Bounceback expected from These levels
Closing Below 5000 TGT 4970-4945-4890
*I always recommend to Carry 5000 Put....If ny Major slide den our Put will Blast
Since, the Market is Likely to Open on Lower , Due to Weak Global Cues.
RELIANCE POWER........................
BSE Code : 532939 (434.80)
Buy
VIDEOCON APPLIANCES...............
BSE Code : 500945 (30.20
Buy Around 30 to 30.10
ADLABS FILMS.........................
BSE Code : 532399 (722.45)
Buy around 715 to 720
Target for clients only
Today's Pick - ENIL
We recommend a buy in Entertainment Network India from a short-term perspective. It is evident from the chart that the Entertainment Network India was on a medium-term downtrend from its December 2007 high of Rs 700 to its March 2008 low of Rs 332.
However, this downtrend appears to have got arrested at around the March low; the stock has been moving higher since then. In the recent times, the stock crossed over the 21 and 50-day moving averages in the daily chart, which is a bullish signal.
The volume, traded over the past two trading sessions, has also been above average. The daily Relative Strength Index is also featuring in the bullish zone.
Besides, the daily moving average convergence and divergence, which is featuring in the positive territory, is also in line with the uptrend.
We are bullish on the stock in the short-term. We expect the stock to move up to our price target of Rs 480 in the forthcoming trading sessions. Investors with short-term perspective can buy the stock while keeping the stop-loss at Rs 410.
Tuesday, May 20, 2008
RANBAXY LOOKS GOOD FOR BUY
Nifty : (5157.70)
As we mentioned in our last post that market still has some more upside left. Now look market has moved up. Nifty Spot has closed above our resistance level of 5156. That is a good closing for market. But again one thing to keep in mind that "Profit Booking At Every Higher Levels". For today supports are 5143, 5106, 5089 and resistance levels are 5173, 5191 and 5207Today's Pick - Ashapura Minechem
We recommend a buy in Ashapura Minechem from a short term perspective. It is evident from the chart that the stock has been on a medium term down trend from the January peak at Rs 448. This down trend was arrested at Rs 168 in March and the stock has been moving higher since then.
The crossover of the 21 and 50-day moving averages in the daily charts is a positive signal. The volume traded has also increased over the past two trading sessions. The daily momentum indicator has entered the bullish zone.
Moreover, the daily moving average convergence and divergence is featuring in the positive territory in line with the uptrend. Our short-term forecast for the stock is bullish. We expect the stock’s current up move to continue until it hits our price target of Rs 280 in the short term. Investors with short-term perspective can buy the stock while keeping the stop-loss at Rs 233.
Key Events for the coming week:
Indian Markets: More Q4 numbers. Inflation on Friday 23rd May
Overseas Data:
* Thursday - Data on April Producer Index
* Friday - Existing home sale data and consumer sentiment index.
Stocks to watch:
* Dishman Pharma - Rs 310
* Garware Wall Ropes - Rs 104
* Micro Technologies - Rs 281
* VIP Industries - Rs 93.90
* Rural Electrification - Rs 117
Corporate News M&M is likely to buy a controlling stake in Italy’s Stile Bertone. (ET)
ONGC Videsh plans to relinquish its onshore exploration block in Ghadames basin, Libya, in favour of the National Oil Co. of that country. (BL)
Reliance Industries in talks with two overseas companies for a foray into hospitality. (ET)
Reliance Retail close to break even in its first full year of operations. (Mint)
ONGC subsidy on auto and cooking fuel to rise by 17.5% in 2007-08. (FE)
Maharashtra government is reconsidering the bid by Reliance Energy for the Rs60bn Mumbai Trans Harbour link. (BS)
Mittal Energy Investments, Total of France and HPCL are likely to invest Rs320bn each in the proposed Petro hub project in AP. (ET)
United Spirits is expected to go in for local bottling of Whtye & Mackay scotch whisky. (ET)
RCOM is set to launch DTH services in 4,000 towns. (ET)
GAIL may become a consortium partner in the Pakistan-India portion of the Iran-Pakistan-India gas pipeline project. (BL)
State owned oil marketing companies want to pay ONGC & Oil India, in oil bonds. (FE)
The Left parties have opposed any move by the Centre to relax FDI norms to facilitate the Bharti-MTN deal. (FE)
Reliance Infratel dilutes 5% stake in pre-IPO placement. (FE)
Ceat decides to set up Rs6bn greenfield radial facility in Gujarat. (BL)
BSEL Infrastructure Realty has signed a MoU with the Government of Malaysia for development of the proposed Iskandar metropolis at an investment of Rs180bn. (BL)
Ranbaxy has started operations in Yemen by tying up with a local firm, Pharma. (ET)
Aditya Birla group to invest Rs4bn in its retail business under group company Aditya Birla Nuvo.(ET)
Quippo Telecom Infrastructure is likely to buy 49% stake in Tata Telecom Teleservices.(TOI)
OnMobile Global to buy a French company in the area of speech recognition software.(BL)
Kinetic Motors in talks with a PE fund and other automakers, in addition to M&M, to raise Rs1.5bn.(Mint)
TRAI asks Government to prescribe contingent rollout obligations and seek additional bank guarantees from Reliance Communications and Tata Teleservices.(BS)
Allahabad Bank plans a rights issue for raising
Tier I capital without diluting government stake.(DNA)
UTI MF may defer its IPO to July in view of financial turmoil in global markets.(FE)
Tata group plans to enter the business of operating and managing ATMs through Tata Communications.(Mint)
Tata Investment to raise Rs7.2bn through a rights issue of zero coupon convertible bonds.(ET)
HSBC acquires 73.2% stake in IL&FS Investsmart for Rs11bn in cash.(BL)
Pidilite Industries exploring possibilities to acquire majority stake in European or US companies.(BS)
Gateway Distriparks plans to double the capacity of its cold storage warehouses. (DNA)
Himatsingka has disclosed a MTM loss of Rs1.75bn (as on March 10, 2008) on a derivative deal with HDFC Bank, for which it has sued the bank. (BS)
Bombay Dyeing is considering demerging its real estate business into a separate company. (DNA)
Tata Coffee is eyeing an acquisition in Russia. (DNA)
Raymond has re-launched its popular brand Be and plans to re-open Be: apparel stores. (ET)
Videocon Industries plans to make mobile handsets. (DNA)
Reliance BIG Entertainment, part of the ADAG group, to invest US$1bn in the Indian film and end entertainment business.(ET)
Global Steel Holdings plans to invest US$450mn to double its capacity at Delta Steel Company in Nigeria to 2.4mtpa.(ET)
HCL Technologies in talks for an acquisition in the life sciences space.(DNA)
Godrej group and Videocon Industries sounded out on a possible bid for GE’s appliances division.(ET)
Bahrain Telecommunications may acquire a listed Indian operation.(Mint)
Hyundai plans to launch a US$3,500 car in India by 2012.(TOI)
Shree Precoated Steels decides to hive off its steel business into a separate company.(ET)
Mercator Lines enters into coal mining business through its subsidiary in Singapore.(DNA)
Bharti Airtel to start its Sri Lanka operations this year.(ET)
Omaxe plans to foray into Dubai property market
As we mentioned in our last post that market still has some more upside left. Now look market has moved up. Nifty Spot has closed above our resistance level of 5156. That is a good closing for market. But again one thing to keep in mind that "Profit Booking At Every Higher Levels". For today supports are 5143, 5106, 5089 and resistance levels are 5173, 5191 and 5207Today's Pick - Ashapura Minechem
We recommend a buy in Ashapura Minechem from a short term perspective. It is evident from the chart that the stock has been on a medium term down trend from the January peak at Rs 448. This down trend was arrested at Rs 168 in March and the stock has been moving higher since then.
The crossover of the 21 and 50-day moving averages in the daily charts is a positive signal. The volume traded has also increased over the past two trading sessions. The daily momentum indicator has entered the bullish zone.
Moreover, the daily moving average convergence and divergence is featuring in the positive territory in line with the uptrend. Our short-term forecast for the stock is bullish. We expect the stock’s current up move to continue until it hits our price target of Rs 280 in the short term. Investors with short-term perspective can buy the stock while keeping the stop-loss at Rs 233.
Key Events for the coming week:
Indian Markets: More Q4 numbers. Inflation on Friday 23rd May
Overseas Data:
* Thursday - Data on April Producer Index
* Friday - Existing home sale data and consumer sentiment index.
Stocks to watch:
* Dishman Pharma - Rs 310
* Garware Wall Ropes - Rs 104
* Micro Technologies - Rs 281
* VIP Industries - Rs 93.90
* Rural Electrification - Rs 117
Corporate News M&M is likely to buy a controlling stake in Italy’s Stile Bertone. (ET)
ONGC Videsh plans to relinquish its onshore exploration block in Ghadames basin, Libya, in favour of the National Oil Co. of that country. (BL)
Reliance Industries in talks with two overseas companies for a foray into hospitality. (ET)
Reliance Retail close to break even in its first full year of operations. (Mint)
ONGC subsidy on auto and cooking fuel to rise by 17.5% in 2007-08. (FE)
Maharashtra government is reconsidering the bid by Reliance Energy for the Rs60bn Mumbai Trans Harbour link. (BS)
Mittal Energy Investments, Total of France and HPCL are likely to invest Rs320bn each in the proposed Petro hub project in AP. (ET)
United Spirits is expected to go in for local bottling of Whtye & Mackay scotch whisky. (ET)
RCOM is set to launch DTH services in 4,000 towns. (ET)
GAIL may become a consortium partner in the Pakistan-India portion of the Iran-Pakistan-India gas pipeline project. (BL)
State owned oil marketing companies want to pay ONGC & Oil India, in oil bonds. (FE)
The Left parties have opposed any move by the Centre to relax FDI norms to facilitate the Bharti-MTN deal. (FE)
Reliance Infratel dilutes 5% stake in pre-IPO placement. (FE)
Ceat decides to set up Rs6bn greenfield radial facility in Gujarat. (BL)
BSEL Infrastructure Realty has signed a MoU with the Government of Malaysia for development of the proposed Iskandar metropolis at an investment of Rs180bn. (BL)
Ranbaxy has started operations in Yemen by tying up with a local firm, Pharma. (ET)
Aditya Birla group to invest Rs4bn in its retail business under group company Aditya Birla Nuvo.(ET)
Quippo Telecom Infrastructure is likely to buy 49% stake in Tata Telecom Teleservices.(TOI)
OnMobile Global to buy a French company in the area of speech recognition software.(BL)
Kinetic Motors in talks with a PE fund and other automakers, in addition to M&M, to raise Rs1.5bn.(Mint)
TRAI asks Government to prescribe contingent rollout obligations and seek additional bank guarantees from Reliance Communications and Tata Teleservices.(BS)
Allahabad Bank plans a rights issue for raising
Tier I capital without diluting government stake.(DNA)
UTI MF may defer its IPO to July in view of financial turmoil in global markets.(FE)
Tata group plans to enter the business of operating and managing ATMs through Tata Communications.(Mint)
Tata Investment to raise Rs7.2bn through a rights issue of zero coupon convertible bonds.(ET)
HSBC acquires 73.2% stake in IL&FS Investsmart for Rs11bn in cash.(BL)
Pidilite Industries exploring possibilities to acquire majority stake in European or US companies.(BS)
Gateway Distriparks plans to double the capacity of its cold storage warehouses. (DNA)
Himatsingka has disclosed a MTM loss of Rs1.75bn (as on March 10, 2008) on a derivative deal with HDFC Bank, for which it has sued the bank. (BS)
Bombay Dyeing is considering demerging its real estate business into a separate company. (DNA)
Tata Coffee is eyeing an acquisition in Russia. (DNA)
Raymond has re-launched its popular brand Be and plans to re-open Be: apparel stores. (ET)
Videocon Industries plans to make mobile handsets. (DNA)
Reliance BIG Entertainment, part of the ADAG group, to invest US$1bn in the Indian film and end entertainment business.(ET)
Global Steel Holdings plans to invest US$450mn to double its capacity at Delta Steel Company in Nigeria to 2.4mtpa.(ET)
HCL Technologies in talks for an acquisition in the life sciences space.(DNA)
Godrej group and Videocon Industries sounded out on a possible bid for GE’s appliances division.(ET)
Bahrain Telecommunications may acquire a listed Indian operation.(Mint)
Hyundai plans to launch a US$3,500 car in India by 2012.(TOI)
Shree Precoated Steels decides to hive off its steel business into a separate company.(ET)
Mercator Lines enters into coal mining business through its subsidiary in Singapore.(DNA)
Bharti Airtel to start its Sri Lanka operations this year.(ET)
Omaxe plans to foray into Dubai property market
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