Confused
In Volatile Market
What to Buy , When to Sell ?
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Sell Nifty at opening of market n cover according to ur taste of profit
With the global indices
down 1-2 percent, our markets are likely to open on flat to
negative note today. Trader are advised to assume long
positions if Nifty holds 4800 levels or from lower supports of
4750 levels for upside targets of 4910 and 5000 levels with a
stop loss placed at 4700 levels.
The breadth of the market
remained positive in spite of negative market suggesting buying
prevailed in selective mid-cap and small-cap stocks. Nifty March
Futures have witnessed closure of short positions while April
Futures have witnessed fresh build up of long positions. April
Futures have seen 48 lakh shares addition in open interest along
with an increase in premium from 7.40 points to 12.25 points.
The rollover of the total market is at 48.73% while the Nifty
rollover stands at 43.74%. On the options front, Nifty 4800 Call
and Put options have seen buying suggesting market is likely to
remain highly volatile in today’s trade
We have a moderately bullish view on Tata Steel; we recommend a Bull Call Spread strategy
o Buy One Apr 660 CA @ 38-42
o Sell One Apr 700 CA @ 26-30
o BEP: 700
o Investment: Rs. 85,000
o Time Frame: 5-6 Days
We recommend a buy in Central Bank of India from a short-term perspective. The charts of Central Bank of India show that the stock was on a medium-term downtrend from its life-high of Rs 154.9 marked in early January 2008 till its mid March low of Rs 73.
More recently, the stock’s medium-term downtrend got arrested at around the support level of Rs 74
After opening with a positive bias, markets traded in a range bound for major part of the trading session. However, towards last hour of the day, a four day rally fizzled out as weak cues from the US, Asian and the European markets coupled with selling pressure in the Banking, Oil & Gas, Telecom and Pharma stocks dragged the benchmark Sensex to close in red. Finally, the BSE benchmark Sensex slipped 130 points to 16,086 and the Nifty index lost 48 points to close at 4,828.
Overall about 1,733 stocks advanced; 978 stocks declined while 50 stocks remained unchanged. Among the 50 Nifty 19 stocks ended in positive territory. On the other hand, 31 stock ended in red.
Among the BSE Sectoral indices, BSE Bankex index (down 0.8%), BSE Oil & Gas index (down 0.8%), BSE Teck index (down 0.7%) and BSE Pharma index (down 0.7%). Gainers were, BSE Small-Cap index (up 2.1%), Mid-Cap index (up 1.5%) and Metal index (up 1.5%).
Among the 30-stocks of Sensex, ICICI Bank, Bharti Airtel, Hindustan Unilever, RIL and BHEL were among the major laggards. However, bucking the trend were HDFC, Tata Steel and ITC.
Aries Agro advanced by 2.2% to Rs120 after the company announced that they opened largest Micronutrient unit at Hyderabad. The scrip touched an intra-day high of Rs125 and a low of Rs116 and recorded volumes of over 8,000 shares on BSE.
Dewan Housing was up over 3% to Rs108 after the company said that it entered into an agreement with UAE sponsorship centre. The scrip touched an intra-day high of Rs108 and a low of Rs102 and recorded volumes of over 3,00,000 shares on BSE.
Strides Arcolab was up by 1.4% to Rs156. The company said that it secured first US approval for HIV drug, according to reports. The scrip touched an intra-day high of Rs159 and a low of Rs151 and recorded volumes of over 10,000 shares on BSE.
Ashok Leyland marginally slipped by half a percent to Rs33. The company said that they raised US$200mn in overseas loan. The scrip touched an intra-day high of Rs33 and a low of Rs32 and recorded volumes of over 6,00,000 shares on BSE.
Maruti Suzuki ended on a flat note to Rs845. The company said that they would begin selling swift Dzire in India march 29. The scrip touched an intra-day high of Rs852 and a low of Rs833 and recorded volumes of over 1,00,000 shares on BSE.
Tata Chemicals slipped by half a percent to Rs274. Reports stated that the company would raise US$850mn to part fund its US$1bn acquisition of US-based General Chemicals Industries Products. The scrip touched an intra-day high of Rs278 and a low of Rs272 and recorded volumes of over 85,000 shares on BSE.
SBI was down by 1.5% to Rs1713. Report stated that the company has secured full bank license from the Monetary Authority of Singapore to establish up to 25 outlets. The scrip touched an intra-day high of Rs1791 and a low of Rs1696 and recorded volumes of over 3,00,000 shares on BSE.
Religare surged by over 4% to Rs380 following reports that the company would acquire UK broking firm Hichens, Harrison & Co for US$100mn. The scrip touched an intra-day high of Rs390 and a low of Rs351 and recorded volumes of over 65,000 shares on BSE.
Markets would further look to consolidate and with F&O expiry on Thursday traders should be cautious.
Corporate Front Page
Tata Motors has signed a deal to buy luxury brands Jaguar and Land Rover (JLR) from Ford for US$2.3bn in cash.
Pfizer has filed two law suits to block Ranbaxy's generic version of Lipitor and Caduet.
RCOM and TCS to enter last leg of bid for setting up 12,000 common service centres across the country.
Tatas to get approval to make an eco-car from the Thailand’s Board of Investment.
ONGC, along with its partner the Hinduja Group, to sign an initial agreement to develop two huge oil and gas fields in Iran.
Religare Enterprises to buy a London-based broking firm, for ~Rs7bn.
DLF to add Ferragamo to luxury brand portfolio.
IDBI reduces its benchmark prime lending rate by 50 basis points to 12.75% from 13.25%.
Gujarat NRE Coke plans to set up coke oven flu gas power plants in its production facilities.
KS Oils has acquired 50,000 acres of palm plantation in Indonesia with an investment of Rs2.3bn.
ITC stops non-filtered cigarette production.
Ashok Leyland has recently concluded an ECB program of US$200mn.
Tata Teleservices has partnered with PayMate to enable Tata Indicom customers to book domestic flight tickets.
Idea Cellular to extend its network to cover 3,000 towns and 30,000 villages by the end of the year.
Alok Infra, a subsidiary of Alok Industries, to raise $100mn through a PE fund.
Economy News
SEBI Board will take up listing norms for corporate bonds in the next board meeting.
Withdrawal of income tax holiday for refinery may hit three government refinery projects.
Cabinet to take up DPEB extension today.
The CAG has recommended the closer of 12 state PSUs on account of the poor turnover and continuous losses.
Maharashtra Government will not take further action for three months with regards to land declared as private forest.
Government to create a debt relief fund to provide liquidity to bank for implementing the Rs600bn loan waiver package.
Government still wary of easing ECB curbs.
TRAI to fix prices of pay channels on the DTH platform in line with the Rs5 per channel cap on CAS.
Government to talk to iron ore exporters for raw material security.
DoT may agree to allow niche operators specifically for providing services in the rural sector.
Cabinet nod for farm debt relief fund today.
India's crude oil production increased 2.3% yoy and natural gas output rose 4.7% yoy in February.
Indian refiners February oil processing grew 5.8% on yoy basis.
TRAI is looking to reduce a fee charged by telcos from other telcos.
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Thursday, March 27, 2008
Wednesday, March 26, 2008
Intra-day volatility may exist
The market may witness cautious trend as US indices ended on a flat note yesterday and Asian indices are exhibiting mix trends in morning trades. Although the bias remains positive, investors should maintain caution as profit-taking at higher levels may pull down the market. Among the local indices the Nifty could test 4740 on the downside while on the upper side it may move up to 5050. The Sensex has a likely support at 16000 and may face resistance at 16400
Will the momentum continue?
Markets extended their gains to fourth straight trading session as firm cues from the international equity markets coupled with buying momentum in the index heavyweights like Reliance Industries, ONGC, DLF and ICICI Bank lifted the markets to surge higher. The benchmark Sensex posted its second biggest single day points gain simultaneously its biggest single day points rally since January 25, 2008. The rally could be attributed to buying momentum in scrip across the sectors. All the Sectoral indices on BSE ended in green.
Finally, the BSE benchmark Sensex added 928 points to 16,217 and the Nifty index added 267 points to close at 4,877. Overall about 2,076 stocks advanced; 639 stocks declined while 47 stocks remained unchanged. Among the 50 Nifty 48 stocks ended in positive territory. On the other hand, only 1 stock ended in red.
BSE Realty index (up 9.5%), BSE Bankex index (up 8.1%), BSE IT index (up 7.7%), BSE Power index (up 6.5%) and BSE Metal index (up 6.4%). BSE Mid-Cap index (up 6.3%) and Small-Cap index (up 4.8%).
Jet Airways surged by over 7% to Rs548. Reports stated that the company would sell 10% stake to FIIs before rights offer. The scrip touched an intra-day high of Rs558 and a low of Rs512 and recorded volumes of over 32,000 shares on BSE.
Aurobindo Pharma further gained by over 4% to Rs258 after the company on Monday announced that they acquired TAD Italy, a generic company with 70 ready-to-market products, for an undisclosed amount. The scrip touched an intra-day high of Rs261 and a low of Rs250 and recorded volumes of over 37,000 shares on BSE.
Sun Pharma slipped by 2.1% to Rs1252. According to reports, the USFDA has asked the US subsidiary of Sun Pharmaceuticals to withdraw many batches of its generic Metformin Hydrochloride tablets used for treating diabetes, citing efficacy and quality issues. The scrip touched an intra-day high of Rs1300 and a low of Rs1240 and recorded volumes of over 4,00,000 shares on BSE.
JP Associates rallied by over 16% to Rs233 after the company announced that they would sell 1% stake in unit to ICICI Bank. The scrip touched an intra-day high of Rs236 and a low of Rs207 and recorded volumes of over shares 78,00,000 on BSE.
Jyoti Structures surged by over 4% to Rs162 after the company said that they secured order worth US$39.64mn from Uganda Electricity. The scrip touched an intra-day high of Rs170 and a low of Rs157 and recorded volumes of over 25,000 shares on BSE.
Reliance Industries, manufacturers of petrochemicals, synthetic fibers and textile, plans to close down all the petroleum retail outlets owned by it directly, according to reports. The rising crude prices and the absence of government subsidies have made operations unviable, the report stated. The scrip ended at Rs2314 gaining by 5.1% after hitting an intra-day high of Rs2325 and a low of Rs2220 and recorded volumes of over 8,00,000 shares on BSE.
Four Soft was up by 1% to Rs23 after the company declared that they secured software contract from IAL Group. The scrip touched an intra-day high of Rs24 and a low of Rs22 and recorded volumes of over 2,00,000 shares on BSE.
One ought to keep one's antennas on high alert to gauge any incidents. The immediate event to watch is the upcoming F&O expiry on Thursday. The market may witness some extra volatility. So traders are advised to protect their profits
Corporate News
SBI secures full bank license from the Monetary Authority of Singapore to establish up to 25 outlets.
L&T wins US$240mn deal for building four ships.
Phoenix Mills buys 25 acres land in Bangalore from GKW for Rs3.2bn.
IOC expects to save Rs10mn a day on transportation once its proposed 15mtpa refinery and petrochem complex starts operations in 2011.
The Government has stayed plan to reduce assured return on equity on negotiated power projects on opposition by NTPC.
Strides Arcolab gets first US approval for HIV drug.
HSBC Financial's stake in Yes Bank up at 4.88%.
Kotak Mahindra Bank plans to lend 30% more in the next 12 months.
Nortel wins US$100mn GSM deal from BSNL.
Jet Airways plans to dilute stake by 10%.
Reliance Power to spend Rs30bn for mines to fuel Sasan project.
Voltas not to hike prices of air-conditioners despite rising input costs.
ONGC targets 29.04MT crude production in 2008-09.
Gail sets gas transmission target of around 81.5mmscmd in 2008-09.
Nilkamal to invest Rs1.5bn by 2011 to expand its furniture retail chain.
Union Bank likely to post lower credit growth this fiscal at around 20% against projected 23-25%.
Federal Bank to open 26 branches across 11 states today.
SBI to raise Rs62.7bn through foreign currency bond issue.
The Government plans to divest 5% stake through follow-on public offers in companies including MMTC, STC, Concor and SCI.
GTL promoters increase stake from 34.36% to 37.05%.
Aurobindo Pharma looking for strategic overseas buy-outs to double revenues.
PFC ties-up with Indian Renewable Energy Development Agency to fund renewable projects.
Bombay Dyeing, L&T JV to jointly bid for development projects in Mumbai and other cities.
Eicher Motors to mull major capacity expansion plan ahead of JV for trucks with Volvo.
Corporation Bank to raise Rs5bn through bonds to meet capital requirements.
Religare to acquire UK broking firm Hichens, Harrison & Co for US$100mn.
REL buys back 250,000 shares through open market purchases on first day of share buyback programme.
Tata Chemicals to raise US$850mn to part fund its US$1bn acquisition of US-based General Chemicals Industries Products.
Ministry of Commerce to consider waiving off 26.33% duty levied on coal exported by Coal India.
Economic News
Car manufacturers consider price hikes on input cost pressures.
FDI cap in DTH to go up to 74%.
ECB policy likely to be relaxed; cap for current financial year may go up to US$28-30bn.
Cement, power companies to buy ships to cut costs.
RBI grants license to Singapore banks, DBS and United Overseas Bank.
Steel makers agree to stop exports, forego DEPB benefits and supported reducing import duty on the alloy.
CPI wants to prevent the Government from acquiring lands and enforce trade union laws in SEZs.
Indian companies witnessed a slowdown in ECB and FCCB mop-up in November-January, says RBI.
I&B Ministry gives approval to hike FDI to 24% from 20% in FM radio operations
Will the momentum continue?
Markets extended their gains to fourth straight trading session as firm cues from the international equity markets coupled with buying momentum in the index heavyweights like Reliance Industries, ONGC, DLF and ICICI Bank lifted the markets to surge higher. The benchmark Sensex posted its second biggest single day points gain simultaneously its biggest single day points rally since January 25, 2008. The rally could be attributed to buying momentum in scrip across the sectors. All the Sectoral indices on BSE ended in green.
Finally, the BSE benchmark Sensex added 928 points to 16,217 and the Nifty index added 267 points to close at 4,877. Overall about 2,076 stocks advanced; 639 stocks declined while 47 stocks remained unchanged. Among the 50 Nifty 48 stocks ended in positive territory. On the other hand, only 1 stock ended in red.
BSE Realty index (up 9.5%), BSE Bankex index (up 8.1%), BSE IT index (up 7.7%), BSE Power index (up 6.5%) and BSE Metal index (up 6.4%). BSE Mid-Cap index (up 6.3%) and Small-Cap index (up 4.8%).
Jet Airways surged by over 7% to Rs548. Reports stated that the company would sell 10% stake to FIIs before rights offer. The scrip touched an intra-day high of Rs558 and a low of Rs512 and recorded volumes of over 32,000 shares on BSE.
Aurobindo Pharma further gained by over 4% to Rs258 after the company on Monday announced that they acquired TAD Italy, a generic company with 70 ready-to-market products, for an undisclosed amount. The scrip touched an intra-day high of Rs261 and a low of Rs250 and recorded volumes of over 37,000 shares on BSE.
Sun Pharma slipped by 2.1% to Rs1252. According to reports, the USFDA has asked the US subsidiary of Sun Pharmaceuticals to withdraw many batches of its generic Metformin Hydrochloride tablets used for treating diabetes, citing efficacy and quality issues. The scrip touched an intra-day high of Rs1300 and a low of Rs1240 and recorded volumes of over 4,00,000 shares on BSE.
JP Associates rallied by over 16% to Rs233 after the company announced that they would sell 1% stake in unit to ICICI Bank. The scrip touched an intra-day high of Rs236 and a low of Rs207 and recorded volumes of over shares 78,00,000 on BSE.
Jyoti Structures surged by over 4% to Rs162 after the company said that they secured order worth US$39.64mn from Uganda Electricity. The scrip touched an intra-day high of Rs170 and a low of Rs157 and recorded volumes of over 25,000 shares on BSE.
Reliance Industries, manufacturers of petrochemicals, synthetic fibers and textile, plans to close down all the petroleum retail outlets owned by it directly, according to reports. The rising crude prices and the absence of government subsidies have made operations unviable, the report stated. The scrip ended at Rs2314 gaining by 5.1% after hitting an intra-day high of Rs2325 and a low of Rs2220 and recorded volumes of over 8,00,000 shares on BSE.
Four Soft was up by 1% to Rs23 after the company declared that they secured software contract from IAL Group. The scrip touched an intra-day high of Rs24 and a low of Rs22 and recorded volumes of over 2,00,000 shares on BSE.
One ought to keep one's antennas on high alert to gauge any incidents. The immediate event to watch is the upcoming F&O expiry on Thursday. The market may witness some extra volatility. So traders are advised to protect their profits
Corporate News
SBI secures full bank license from the Monetary Authority of Singapore to establish up to 25 outlets.
L&T wins US$240mn deal for building four ships.
Phoenix Mills buys 25 acres land in Bangalore from GKW for Rs3.2bn.
IOC expects to save Rs10mn a day on transportation once its proposed 15mtpa refinery and petrochem complex starts operations in 2011.
The Government has stayed plan to reduce assured return on equity on negotiated power projects on opposition by NTPC.
Strides Arcolab gets first US approval for HIV drug.
HSBC Financial's stake in Yes Bank up at 4.88%.
Kotak Mahindra Bank plans to lend 30% more in the next 12 months.
Nortel wins US$100mn GSM deal from BSNL.
Jet Airways plans to dilute stake by 10%.
Reliance Power to spend Rs30bn for mines to fuel Sasan project.
Voltas not to hike prices of air-conditioners despite rising input costs.
ONGC targets 29.04MT crude production in 2008-09.
Gail sets gas transmission target of around 81.5mmscmd in 2008-09.
Nilkamal to invest Rs1.5bn by 2011 to expand its furniture retail chain.
Union Bank likely to post lower credit growth this fiscal at around 20% against projected 23-25%.
Federal Bank to open 26 branches across 11 states today.
SBI to raise Rs62.7bn through foreign currency bond issue.
The Government plans to divest 5% stake through follow-on public offers in companies including MMTC, STC, Concor and SCI.
GTL promoters increase stake from 34.36% to 37.05%.
Aurobindo Pharma looking for strategic overseas buy-outs to double revenues.
PFC ties-up with Indian Renewable Energy Development Agency to fund renewable projects.
Bombay Dyeing, L&T JV to jointly bid for development projects in Mumbai and other cities.
Eicher Motors to mull major capacity expansion plan ahead of JV for trucks with Volvo.
Corporation Bank to raise Rs5bn through bonds to meet capital requirements.
Religare to acquire UK broking firm Hichens, Harrison & Co for US$100mn.
REL buys back 250,000 shares through open market purchases on first day of share buyback programme.
Tata Chemicals to raise US$850mn to part fund its US$1bn acquisition of US-based General Chemicals Industries Products.
Ministry of Commerce to consider waiving off 26.33% duty levied on coal exported by Coal India.
Economic News
Car manufacturers consider price hikes on input cost pressures.
FDI cap in DTH to go up to 74%.
ECB policy likely to be relaxed; cap for current financial year may go up to US$28-30bn.
Cement, power companies to buy ships to cut costs.
RBI grants license to Singapore banks, DBS and United Overseas Bank.
Steel makers agree to stop exports, forego DEPB benefits and supported reducing import duty on the alloy.
CPI wants to prevent the Government from acquiring lands and enforce trade union laws in SEZs.
Indian companies witnessed a slowdown in ECB and FCCB mop-up in November-January, says RBI.
I&B Ministry gives approval to hike FDI to 24% from 20% in FM radio operations
Tuesday, March 25, 2008
DONT LOSS MONEY AGAIN...
AGAIN WE GIVEN ALERT TO U ALL ON 25 th MARCH AND AFTER
MKT BULL AND BEAR DAYS ALREADY CONFIRMED BY OURS.
WHAT NEXT MKT TREND..?BUT TREND CONFORMED.
MARKET TREND AND NIFTY , SENSEX TARGET
AND BULLISH AND BEARISH SECTORS AND TARGETS ARE
GIVEN PAID CLIENTS ONLY.
MKT BULL AND BEAR DAYS ALREADY CONFIRMED BY OURS.
WHAT NEXT MKT TREND..?BUT TREND CONFORMED.
MARKET TREND AND NIFTY , SENSEX TARGET
AND BULLISH AND BEARISH SECTORS AND TARGETS ARE
GIVEN PAID CLIENTS ONLY.
Market may start buoyant
Subscribe to know more before you loose money
The benchmark indices, Sensex and Nifty, are expected to commence on a firm note and witness significant rally during intra-day trades, as international markets backed by firm US and Asian indices may help the sentiment remain buoyant. Among the Asian majors, Nikkei has surged 166 points at 12646 while Hang Seng has scaled up 782 points at 21890. On the technical front, the Nifty could test in the 4680-4700 range on the upside and has support at 4500, while the Sensex has a likely support at 15065 and may face resistance at 15470.
US indices posted steady gains on Monday with the Dow Jones moving 187 points up to close at 12549, while the Nasdaq added 69 points to close at 2327.
All the Indian floats had a decent outing on the US bourses. ICICI Bank was the biggest gainer and rose 13.10% while Rediff scaled up 9.60%. VSNL, Satyam, Infosys HDFC Bank, Tata Motors and Wipro jumped over 6-8% each while Patni Computers gained over 3%.
Crude oil prices in the US market moved up, with the Nymex Light crude oil for May 08 delivery moving down by 98 cents to close at $100.86 a barrel. In the Commodity segment, the Comex gold for April series lost $1.30 to settle at $918.70 a troy ounce.
Nifty 4610 Supp 4400 Res 4700
Buy Tata Motors (662) SL 657 Target 675, 680
Buy ACC (805) SL 798
Target 818, 823
Buy ICICI Bank (802) SL 795 Target 820, 825
Buy ITC (190) SL 186
Target 199, 203
Sell Century Tex (688) SL 695 Target 673, 669
FIIs were net buyers of Rs3.76bn (provisional) in the cash segment yesterday while local institutions pulled out Rs2.53bn. In the F&O segment, foreign funds were net buyers to the tune of Rs18bn yesterday. On March 19, FIIs were net buyers of Rs5.37bn in the cash segment while Mutual Funds offloaded shares worth Rs2.91bn on the same day.
Volatility to continue
It was strong start to the first session of the week. After coming back from one of the longest breaks Indian markets have taken in recent years, bulls staged a strong start despite weak cues from the Asian markets. Markets lost ground in the mid afternoon trades as selling pressure in the Metal and the Realty stocks dragged the benchmark Sensex to low of 15,056. However, staged a strong come back towards the fag end of the session, the index heavyweights like HDFC, Wipro, ICICI Bank and Hindustan Unilever led from the front
Finally, the BSE benchmark Sensex added 294 points to 15,289 and the Nifty index added 35 points to close at 4609. Overall about 563 stocks advanced; 2,121 stocks declined while 33 stocks remained unchanged. Among the 50 Nifty, 31 stocks ended in positive territory. On the other hand, 18 stocks ended in red.
GTL Ltd gained by half a percent to Rs236 after Vanu Inc on March 20, 2008 announced a strategic alliance with GTL LTD to address the Shared Active Infrastructure Services Market in India. The Company and Vanu Inc, is the leading software radio innovator for the wireless infrastructure industry. The scrip touched an intra-day high of Rs239 and a low of Rs230 and recorded volumes of over 56,000 shares on BSE.
Shree Cement was down by over 3% to Rs966. The company said that they have expanded clinker production capacity. The scrip touched an intra-day high of Rs989 and a low of Rs948.
Micro Technologies lost over 5% to Rs181. The company announced the launch of new and unique one pack solution of Premises Security product called the Micro ISS (Intelligent Surveillance System). The scrip touched an intra-day high of Rs191 and a low of Rs177 and recorded volumes of over 25,000 shares on BSE.
Great Offshore was down by a percent to Rs591. The Company said that they would consider buyback of shares on March 31. The scrip touched an intra-day high of Rs651 and a low of Rs573 and recorded volumes of over 27,000 shares on BSE.
Aurobindo Pharma edged lower by 0.2% to Rs248. The company announced that it signed agreement with TAD Italy. The scrip touched an intra-day high of Rs259 and a low of Rs241 and recorded volumes of over 85,000 shares on BSE.
Marico bounced back and gained by 1.2% to Rs62. The stock had initially slipped after the company said that they would discontinue distribution alliance with Indo Nissin. The scrip has touched an intra-day high of Rs63 and a low of Rs60 and recorded volumes of over 83,000 shares on BSE.
Petron Engineering advanced by 3% to Rs199 after the company announced that it secured Rs33.7mn contract. The scrip touched an intra-day high of Rs195 and a low of Rs184 and recorded volumes of over 49,000 shares on BSE.
Corporate News
Reliance Industries has decided to shut down all the petroleum retail outlets owned by it directly.
Reliance Industries is evaluating a plan to set up its third refinery at Jamnagar to reach a total capacity of 100mmtpa.
The Indian JV of Fiat and Tata Motors plans to invest Rs23.4bn in its Ranjangaon facility in Pune, taking the total investment to Rs40.4bn.
Oil India plans to go ahead with its IPO despite the stock market falling more than 29% from its peak in January.
Petronet LNG is keen to join existing coal bed methane projects in Australia and plans to bid for gas blocks in the next auction.
BPCL and GAIL will float a joint venture — God’s Own Gas Company (Go Gas) — for marketing CNG and piped gas in Kerala and Karnataka.
ICICI Bank has entered into a Rs11.5bn equity-cum-debt deal with Jaypee Infratech for the 165km Taj Expressway
Ranbaxy, Cipla and Aurobindo Pharma are in the race for the US$200mn South African government tender to supply anti-HIV drugs.
The NPPA has asked Cipla to pay Rs628.5mn as interest on alleged unpaid overcharged amounts in respect of four drugs
Cipla is developing a basket of combination-drugs, including medicines for allergic rhinitis, asthma and cardiac-problems for developed markets.
Cipla is set to launch the world’s first triple drug combination inhaler for patients of chronic obstructive pulmonary disease in India.
TCS has been selected to provide its flagship electronic signature platform for US-based Prudential Financial Inc.
The USFDA has asked the US subsidiary of Sun Pharma to withdraw many batches of its generic Metformin Hydrochloride tablets.
Tata Motors and Ford are expected to complete the Jaguar-Land Rover deal on March 26
Eicher Motors will replace its existing Skyline and Cruiser buses with a new range that will meet all specifications of the Indian bus-code.
Future group is all set to tie up with Cisco Systems to implement RFID technology across all its retail formats.
Emami Group, now in the midst of an expansion-diversification mode, plans to spend Rs2.5bn on its edible oils unit in Haldia.
GHCL’s Board has accorded an in-principle approval to spin off its home textile and retail businesses into separate units.
Punjab National Bank plans to raise fresh capital of Rs5bn by issuing upper tier-II bonds on a private placement basis.
Rain Group is expanding the capacity of its cement plant in Kurnool, by adding 1.5mn tons by May, besides augmenting its CPC production.
Madras Cements plans to expand cement capacity to 10 MTPA by Q2 FY09 and to increase grinding capacity by 1MTPA each at Kolaghat, Chennai and Salem facilities with an investment of Rs15.2bn.
Gulf Oil Corp has announced the launch of four-stroke motorcycle oil Gulf Pride 4T Plus 10W-30, a synthetic blend oil.
Allcargo Global Logistics has purchased a 650 ton capacity Leibherr-LR-1650 crawler crane and ordered 10 more crawler and telescopic cranes having 150-400 ton capacity.
Aarvee Denims is expecting to almost double its turnover in 2008-09 on the back of its Rs700mn expansion plan.
LIC has increased its stake in Reliance Communications to over 5%.
Nicholas Pharma has launched a pilot project in Rajasthan to take its drugs to rural areas where there is no proper public health system.
Raheja Developers will foray into hospitality sector with the Indian Hotels Company.
GMR group is diversifying in the real estate sector with a Rs33bn deal.
Aries Agro is targeting a turnover of Rs2bn during FY10 on the back of its proposed capacity expansion plans.
BP is likely to enter into a strategic tie-up with Cals, a Spice Energy holding company, for its proposed US$1bn refinery at Haldia.
Hyundai Motor plans to sell buses in India from 2009.
National Dairy Development Board has started the process of merging Mother Dairy Fruit & Vegetable and Dhara Vegetable Oil & Foods Co.
UK-based Cobra Beer targets to sell 20 mn cases in India by 2012 and will infuse US$80mn in setting up and acquiring new breweries.
LG Electronics is targeting to sell around 1.5mn refrigerators in 2008.
Economic News
The Centre is contemplating amending the land acquisition law to ensure adequate compensation to people whose lands are acquired. The Government also says that no agricultural and irrigated land should be taken for SEZs.
According to telecom regulator TRAI, India is set to become the second largest wireless network in the world in April.
The Government will raise Rs960bn from the market in April-September by issuing securities to part-finance its expenditure in 2008-09.
TRAI may rethink on phasing out access deficit charge this year.
Banks and financial institutions have settled NPAs of about Rs30bn in 2007-08 through the auction route, which is 25% less than last year.
Five million DTH subscribers may be able to switch from their current service providers to new players by installing an add-on device.
The NHAI has projected an expenditure of Rs280bn for FY09 to complete its ongoing projects and the new projects announced under NHDP.
The Government warned telecom companies to put the required security system in place within 15 days or stop the Blackberry services.
Aluminium prices have been reduced by Rs10,000 per ton from March 20.
Coal production in the 11th Five Year Plan period is expected to increase by 680mn tons from 460mn tons.
Orthodox tea production during the next five years is expected to touch 130mn kg from 80mn kg.
The Government is considering cutting import duty on soya oil.
The Government is mulling the abolition of import duty on all grades of steel.
Steel manufacturers say they would reduce prices provided the excise duty on the alloy is brought down to a reasonable level
The benchmark indices, Sensex and Nifty, are expected to commence on a firm note and witness significant rally during intra-day trades, as international markets backed by firm US and Asian indices may help the sentiment remain buoyant. Among the Asian majors, Nikkei has surged 166 points at 12646 while Hang Seng has scaled up 782 points at 21890. On the technical front, the Nifty could test in the 4680-4700 range on the upside and has support at 4500, while the Sensex has a likely support at 15065 and may face resistance at 15470.
US indices posted steady gains on Monday with the Dow Jones moving 187 points up to close at 12549, while the Nasdaq added 69 points to close at 2327.
All the Indian floats had a decent outing on the US bourses. ICICI Bank was the biggest gainer and rose 13.10% while Rediff scaled up 9.60%. VSNL, Satyam, Infosys HDFC Bank, Tata Motors and Wipro jumped over 6-8% each while Patni Computers gained over 3%.
Crude oil prices in the US market moved up, with the Nymex Light crude oil for May 08 delivery moving down by 98 cents to close at $100.86 a barrel. In the Commodity segment, the Comex gold for April series lost $1.30 to settle at $918.70 a troy ounce.
Nifty 4610 Supp 4400 Res 4700
Buy Tata Motors (662) SL 657 Target 675, 680
Buy ACC (805) SL 798
Target 818, 823
Buy ICICI Bank (802) SL 795 Target 820, 825
Buy ITC (190) SL 186
Target 199, 203
Sell Century Tex (688) SL 695 Target 673, 669
FIIs were net buyers of Rs3.76bn (provisional) in the cash segment yesterday while local institutions pulled out Rs2.53bn. In the F&O segment, foreign funds were net buyers to the tune of Rs18bn yesterday. On March 19, FIIs were net buyers of Rs5.37bn in the cash segment while Mutual Funds offloaded shares worth Rs2.91bn on the same day.
Volatility to continue
It was strong start to the first session of the week. After coming back from one of the longest breaks Indian markets have taken in recent years, bulls staged a strong start despite weak cues from the Asian markets. Markets lost ground in the mid afternoon trades as selling pressure in the Metal and the Realty stocks dragged the benchmark Sensex to low of 15,056. However, staged a strong come back towards the fag end of the session, the index heavyweights like HDFC, Wipro, ICICI Bank and Hindustan Unilever led from the front
Finally, the BSE benchmark Sensex added 294 points to 15,289 and the Nifty index added 35 points to close at 4609. Overall about 563 stocks advanced; 2,121 stocks declined while 33 stocks remained unchanged. Among the 50 Nifty, 31 stocks ended in positive territory. On the other hand, 18 stocks ended in red.
GTL Ltd gained by half a percent to Rs236 after Vanu Inc on March 20, 2008 announced a strategic alliance with GTL LTD to address the Shared Active Infrastructure Services Market in India. The Company and Vanu Inc, is the leading software radio innovator for the wireless infrastructure industry. The scrip touched an intra-day high of Rs239 and a low of Rs230 and recorded volumes of over 56,000 shares on BSE.
Shree Cement was down by over 3% to Rs966. The company said that they have expanded clinker production capacity. The scrip touched an intra-day high of Rs989 and a low of Rs948.
Micro Technologies lost over 5% to Rs181. The company announced the launch of new and unique one pack solution of Premises Security product called the Micro ISS (Intelligent Surveillance System). The scrip touched an intra-day high of Rs191 and a low of Rs177 and recorded volumes of over 25,000 shares on BSE.
Great Offshore was down by a percent to Rs591. The Company said that they would consider buyback of shares on March 31. The scrip touched an intra-day high of Rs651 and a low of Rs573 and recorded volumes of over 27,000 shares on BSE.
Aurobindo Pharma edged lower by 0.2% to Rs248. The company announced that it signed agreement with TAD Italy. The scrip touched an intra-day high of Rs259 and a low of Rs241 and recorded volumes of over 85,000 shares on BSE.
Marico bounced back and gained by 1.2% to Rs62. The stock had initially slipped after the company said that they would discontinue distribution alliance with Indo Nissin. The scrip has touched an intra-day high of Rs63 and a low of Rs60 and recorded volumes of over 83,000 shares on BSE.
Petron Engineering advanced by 3% to Rs199 after the company announced that it secured Rs33.7mn contract. The scrip touched an intra-day high of Rs195 and a low of Rs184 and recorded volumes of over 49,000 shares on BSE.
Corporate News
Reliance Industries has decided to shut down all the petroleum retail outlets owned by it directly.
Reliance Industries is evaluating a plan to set up its third refinery at Jamnagar to reach a total capacity of 100mmtpa.
The Indian JV of Fiat and Tata Motors plans to invest Rs23.4bn in its Ranjangaon facility in Pune, taking the total investment to Rs40.4bn.
Oil India plans to go ahead with its IPO despite the stock market falling more than 29% from its peak in January.
Petronet LNG is keen to join existing coal bed methane projects in Australia and plans to bid for gas blocks in the next auction.
BPCL and GAIL will float a joint venture — God’s Own Gas Company (Go Gas) — for marketing CNG and piped gas in Kerala and Karnataka.
ICICI Bank has entered into a Rs11.5bn equity-cum-debt deal with Jaypee Infratech for the 165km Taj Expressway
Ranbaxy, Cipla and Aurobindo Pharma are in the race for the US$200mn South African government tender to supply anti-HIV drugs.
The NPPA has asked Cipla to pay Rs628.5mn as interest on alleged unpaid overcharged amounts in respect of four drugs
Cipla is developing a basket of combination-drugs, including medicines for allergic rhinitis, asthma and cardiac-problems for developed markets.
Cipla is set to launch the world’s first triple drug combination inhaler for patients of chronic obstructive pulmonary disease in India.
TCS has been selected to provide its flagship electronic signature platform for US-based Prudential Financial Inc.
The USFDA has asked the US subsidiary of Sun Pharma to withdraw many batches of its generic Metformin Hydrochloride tablets.
Tata Motors and Ford are expected to complete the Jaguar-Land Rover deal on March 26
Eicher Motors will replace its existing Skyline and Cruiser buses with a new range that will meet all specifications of the Indian bus-code.
Future group is all set to tie up with Cisco Systems to implement RFID technology across all its retail formats.
Emami Group, now in the midst of an expansion-diversification mode, plans to spend Rs2.5bn on its edible oils unit in Haldia.
GHCL’s Board has accorded an in-principle approval to spin off its home textile and retail businesses into separate units.
Punjab National Bank plans to raise fresh capital of Rs5bn by issuing upper tier-II bonds on a private placement basis.
Rain Group is expanding the capacity of its cement plant in Kurnool, by adding 1.5mn tons by May, besides augmenting its CPC production.
Madras Cements plans to expand cement capacity to 10 MTPA by Q2 FY09 and to increase grinding capacity by 1MTPA each at Kolaghat, Chennai and Salem facilities with an investment of Rs15.2bn.
Gulf Oil Corp has announced the launch of four-stroke motorcycle oil Gulf Pride 4T Plus 10W-30, a synthetic blend oil.
Allcargo Global Logistics has purchased a 650 ton capacity Leibherr-LR-1650 crawler crane and ordered 10 more crawler and telescopic cranes having 150-400 ton capacity.
Aarvee Denims is expecting to almost double its turnover in 2008-09 on the back of its Rs700mn expansion plan.
LIC has increased its stake in Reliance Communications to over 5%.
Nicholas Pharma has launched a pilot project in Rajasthan to take its drugs to rural areas where there is no proper public health system.
Raheja Developers will foray into hospitality sector with the Indian Hotels Company.
GMR group is diversifying in the real estate sector with a Rs33bn deal.
Aries Agro is targeting a turnover of Rs2bn during FY10 on the back of its proposed capacity expansion plans.
BP is likely to enter into a strategic tie-up with Cals, a Spice Energy holding company, for its proposed US$1bn refinery at Haldia.
Hyundai Motor plans to sell buses in India from 2009.
National Dairy Development Board has started the process of merging Mother Dairy Fruit & Vegetable and Dhara Vegetable Oil & Foods Co.
UK-based Cobra Beer targets to sell 20 mn cases in India by 2012 and will infuse US$80mn in setting up and acquiring new breweries.
LG Electronics is targeting to sell around 1.5mn refrigerators in 2008.
Economic News
The Centre is contemplating amending the land acquisition law to ensure adequate compensation to people whose lands are acquired. The Government also says that no agricultural and irrigated land should be taken for SEZs.
According to telecom regulator TRAI, India is set to become the second largest wireless network in the world in April.
The Government will raise Rs960bn from the market in April-September by issuing securities to part-finance its expenditure in 2008-09.
TRAI may rethink on phasing out access deficit charge this year.
Banks and financial institutions have settled NPAs of about Rs30bn in 2007-08 through the auction route, which is 25% less than last year.
Five million DTH subscribers may be able to switch from their current service providers to new players by installing an add-on device.
The NHAI has projected an expenditure of Rs280bn for FY09 to complete its ongoing projects and the new projects announced under NHDP.
The Government warned telecom companies to put the required security system in place within 15 days or stop the Blackberry services.
Aluminium prices have been reduced by Rs10,000 per ton from March 20.
Coal production in the 11th Five Year Plan period is expected to increase by 680mn tons from 460mn tons.
Orthodox tea production during the next five years is expected to touch 130mn kg from 80mn kg.
The Government is considering cutting import duty on soya oil.
The Government is mulling the abolition of import duty on all grades of steel.
Steel manufacturers say they would reduce prices provided the excise duty on the alloy is brought down to a reasonable level
Monday, March 24, 2008
Welcome back…Nothing stable
It’s one of the longest breaks the Indian markets have taken in recent years. Hope you are recharged for a choppy week ahead.
For the day, we expect a positive start but trading will turn choppy ahead of Thursday's F&O expiry.
So, one still needs to be wary. And, though select buying can be done in quality scrips volatility and uncertainty are here to stay. The next set of earnings will be crucial. Interest rates may not soften due to high inflation. The Indian economy will slow down in FY09. So, the fight between the bulls and bears will continue.
The Indian Market is likely to have a positive opening today as he global markets are in favor. On Wednesday, pared most of its initial gains on the back of heavy profit booking across the sectoral indices towards the final trading hours of the session. The domestic market opened with a bang and created a rally across the sectoral indices on the back of favoring cues from the global markets like interest rate cut by US Federal Reserve and better than expected strong performance from- Goldman Sachs Group and Lehman Brothers Holdings, the two major investment banks. But the market was unable to sustained at higher levels and gave up most of its initial gains on the back of long holiday. The BSE Sensex closed higher by 161.37 points at 14,994.83 and NSE Nifty grew by 40.95 points to close 4573.95. We expect that the market may remain choppy during the trading session.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 261.66 points at 12,361.32. The S&P 500 (SPX) index grew by 31.09 points to close at 1,329.51 and NASDAQ Composite (RIXF) increased by 48.15 points to close at 2,258.11.
The Indian ADRS closed in positive. In technology sector, Wipro grew by (4%) along with Patni Computers by (3.75%), Satyam by (1.66%) and Infosys by (1.50%). In banking sector, HDFC bank and ICICI bank increased by (2.58%) and (1.21%) respectively. In telecommunication sector, Tata Communication and MTNL advanced by (3.47%) and (0.41%) respectively.
Today the major stock markets in Asia are trading firm. Taiwan Weighted is trading higher by 344.84 points at 8,869.83 along with Japan’s Nikkei trading up by 46.33 points at 12,528.90 and Singapore Strait Times trading at 2,891.02 up by 66.11 points. South Korea Seoul Composite is trading marginally higher by 7.26 points at 1,652.95.
The FIIs on Wednesday stood as net seller both in equity as well as debt. The gross equity purchased was Rs4,701.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs5,389.10 Crore and gross debt sold stood at Rs148.20 Crore. Therefore, the net investment of equity reported was (Rs687.80 Crore) and net debt was (Rs148.20 Crore).
The Wholesale Price index rose to an 11-month high of 5.92%. The WPI-based inflation increased sharply on account of spurt in prices across the board, with cereals (6.28%), milk (9.71%), vegetables (9.79%), dairy products (9.31%), cement (5.13%), iron and steel (20.87%) and edible oils (17.52%). By seeing this growth in inflation, the Indian government has reduced customs duty on rice and edible oils drastically to rein in their prices in domestic market. The customs duty on rice has been cut to nil from 70% earlier as well as duties on all crude and refined edible oils were also slashed from the existing levels of 52% and 75% to 20% and 27.5% respectively.
Today, Nifty has support at 4,471 and resistance at 4,708 and BSE Sensex has support at 14,623 and resistance at 15,312Buy : Ongc & Gail at dips
Buy : RIL & Relcap at dips
Buy : HLL & ITC
Buy : Geship & Balrampur
Buy : HDFC
Buy : Nalco
Dark Horse : Skumar , ONGC , Kohinoor , RIL , LT , ITC & HLL
Corporate Front Page
BSNL and MTNL get DoT approval to launch nationwide CDMA services
Coal India to invest Rs15bn to set up 28 washeries in its subsidiaries in the 11th plan
BHEL likely to invest Rs50bn over the next three years on its JV with NTPC and Nuclear Power Corporation
Time Warner promoted AOL may be selling its call centre business to the BPO arm of Essar group for US$100mn
NTPC to invest Rs44bn for setting up a 750MW coal-based thermal power project in Assam
Aban Offshore receives an order for rig deployment in the Middle East forUS$300mn
Maruti Suzuki to invest Rs90bn, mostly in non-vehicle manufacturing areas like R&D, logistics amongst others
GMR Infrastructure led consortium takes charge of Turkey’s Sabiha Gocken International airport for development
JSW Energy proposes to set up a 1,320MW power plant in Madhya Pradesh
Sun Pharmaceuticals gets FDA approval to market generic drug Cerebyx used during neuro-surgery
Ispat Industries promoted Global Steel Holdings signs up mining leases for iron ore and coal reserves in Brazil, Colombia and Mozambique
State owned NMDC in talks with Canada’s New Millennium Capital Corp for an US$3.5bn iron ore project
Telekom Malaysia to transfer its stake in Spice into a separate company, likely to be called Telekom International.
Cochin International Airport, which runs Kochi international airport, plans to raise Rs25bn through an IPO in 2009
Reliance Infrastructure plans strategic alliance with Indiabulls Real Estate for development of latter’s SEZ in Maharashtra
ArcelorMittal plans to develop coal mines; seeks JV with Coal India
Petronet LNG on the look out for stakes in Australian gas fields
Unitech may look to ‘monetize’ its upcoming hotel business within 2.5 years of operations; options include listing, sale of assets or hotel REIT
PNB expects to get Rs20bn from the government in the financial year beginning April for farm loan waiver
Power Grid Corp to get a US$600mn loan from the World Bank to strengthen its network
Elecon Engineering on look out for an acquisition in US or Europe in the range of Rs3-4bn
CALS Refineries, promoted by Spice group signs MoU with West Bengal Industrial Development Corp. and Haldia Development Authority for an Rs200bn refinery project in Haldia
Champagne Indage acquires Australian Vintage’s Loxton winery for Rs2.3bn
Blue Dart to increase warehousing capacity to 2mn sq.ft
Rajasthan government stops work on a Cairn India pipeline; says it would result in loss of tax revenues to the state
Amtek Auto to produce 5,000 railway wagons in a JV with a North American wagon supplier
Essar Communications Holdings arm to invest US$450mn to rollout telecom services in Kenya
Lehman Brothers and Deutsche Bank to invest US$500mn in Unitech SPV.
Ranbaxy suffers setback as a Canadian court upholds Pfizer patent for a molecule of cholesterol-lowering drug Lipitor
George Soros buys 2.5% stake in Indiabulls Real Estate for Rs2.8bn
Kribhco plans a Rs40bn power project in Bihar
Economic News
Inflation rises to eleven month high of 5.92%; government cuts import duty on edible oil and rice
DoT says all players can bid up to 10MHz of 3G spectrum rejecting TRAI’s recommendation on the same
Core sector growth halved to 4.2% in January with decline in crude production
Government may consider a proposal to levy 10% export duty on all grades of finished steel
Government proposes cess of up to 6% on coal with high ash content
India expected to attract FDI worth Rs1tn in mining exploration of gold and diamond
Sugar production in Uttar Pradesh is expected to drop by 15% to 7.2mn tons in current crushing season
Sixth Pay Commission recommendations are expected to be submitted to the finance ministry early next week
Non-food credit growth slows down to 21.8% during April-February 2007-08 compared with 29.6% a year ago
Central government staff may get a 50% pay hike
Fiscal deficit for quarter ended December declined to Rs776bn from Rs949bn a year ago
Domestic aviation growth in 2007 declines to 11.5% from more than 32% in the previous year
I&B Ministry considering TRAI proposals to lower license fees for DTH players from 10% to 6%.
Five SEZs projects get approval with four in the IT sector.
Insurance regulator IRDA may limit insurance companies’ investment in mortgage backed securities to 10%
For the day, we expect a positive start but trading will turn choppy ahead of Thursday's F&O expiry.
So, one still needs to be wary. And, though select buying can be done in quality scrips volatility and uncertainty are here to stay. The next set of earnings will be crucial. Interest rates may not soften due to high inflation. The Indian economy will slow down in FY09. So, the fight between the bulls and bears will continue.
The Indian Market is likely to have a positive opening today as he global markets are in favor. On Wednesday, pared most of its initial gains on the back of heavy profit booking across the sectoral indices towards the final trading hours of the session. The domestic market opened with a bang and created a rally across the sectoral indices on the back of favoring cues from the global markets like interest rate cut by US Federal Reserve and better than expected strong performance from- Goldman Sachs Group and Lehman Brothers Holdings, the two major investment banks. But the market was unable to sustained at higher levels and gave up most of its initial gains on the back of long holiday. The BSE Sensex closed higher by 161.37 points at 14,994.83 and NSE Nifty grew by 40.95 points to close 4573.95. We expect that the market may remain choppy during the trading session.
On Friday, the US market closed in green. The Dow Jones Industrial Average (DJIA) closed higher by 261.66 points at 12,361.32. The S&P 500 (SPX) index grew by 31.09 points to close at 1,329.51 and NASDAQ Composite (RIXF) increased by 48.15 points to close at 2,258.11.
The Indian ADRS closed in positive. In technology sector, Wipro grew by (4%) along with Patni Computers by (3.75%), Satyam by (1.66%) and Infosys by (1.50%). In banking sector, HDFC bank and ICICI bank increased by (2.58%) and (1.21%) respectively. In telecommunication sector, Tata Communication and MTNL advanced by (3.47%) and (0.41%) respectively.
Today the major stock markets in Asia are trading firm. Taiwan Weighted is trading higher by 344.84 points at 8,869.83 along with Japan’s Nikkei trading up by 46.33 points at 12,528.90 and Singapore Strait Times trading at 2,891.02 up by 66.11 points. South Korea Seoul Composite is trading marginally higher by 7.26 points at 1,652.95.
The FIIs on Wednesday stood as net seller both in equity as well as debt. The gross equity purchased was Rs4,701.30 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs5,389.10 Crore and gross debt sold stood at Rs148.20 Crore. Therefore, the net investment of equity reported was (Rs687.80 Crore) and net debt was (Rs148.20 Crore).
The Wholesale Price index rose to an 11-month high of 5.92%. The WPI-based inflation increased sharply on account of spurt in prices across the board, with cereals (6.28%), milk (9.71%), vegetables (9.79%), dairy products (9.31%), cement (5.13%), iron and steel (20.87%) and edible oils (17.52%). By seeing this growth in inflation, the Indian government has reduced customs duty on rice and edible oils drastically to rein in their prices in domestic market. The customs duty on rice has been cut to nil from 70% earlier as well as duties on all crude and refined edible oils were also slashed from the existing levels of 52% and 75% to 20% and 27.5% respectively.
Today, Nifty has support at 4,471 and resistance at 4,708 and BSE Sensex has support at 14,623 and resistance at 15,312Buy : Ongc & Gail at dips
Buy : RIL & Relcap at dips
Buy : HLL & ITC
Buy : Geship & Balrampur
Buy : HDFC
Buy : Nalco
Dark Horse : Skumar , ONGC , Kohinoor , RIL , LT , ITC & HLL
Corporate Front Page
BSNL and MTNL get DoT approval to launch nationwide CDMA services
Coal India to invest Rs15bn to set up 28 washeries in its subsidiaries in the 11th plan
BHEL likely to invest Rs50bn over the next three years on its JV with NTPC and Nuclear Power Corporation
Time Warner promoted AOL may be selling its call centre business to the BPO arm of Essar group for US$100mn
NTPC to invest Rs44bn for setting up a 750MW coal-based thermal power project in Assam
Aban Offshore receives an order for rig deployment in the Middle East forUS$300mn
Maruti Suzuki to invest Rs90bn, mostly in non-vehicle manufacturing areas like R&D, logistics amongst others
GMR Infrastructure led consortium takes charge of Turkey’s Sabiha Gocken International airport for development
JSW Energy proposes to set up a 1,320MW power plant in Madhya Pradesh
Sun Pharmaceuticals gets FDA approval to market generic drug Cerebyx used during neuro-surgery
Ispat Industries promoted Global Steel Holdings signs up mining leases for iron ore and coal reserves in Brazil, Colombia and Mozambique
State owned NMDC in talks with Canada’s New Millennium Capital Corp for an US$3.5bn iron ore project
Telekom Malaysia to transfer its stake in Spice into a separate company, likely to be called Telekom International.
Cochin International Airport, which runs Kochi international airport, plans to raise Rs25bn through an IPO in 2009
Reliance Infrastructure plans strategic alliance with Indiabulls Real Estate for development of latter’s SEZ in Maharashtra
ArcelorMittal plans to develop coal mines; seeks JV with Coal India
Petronet LNG on the look out for stakes in Australian gas fields
Unitech may look to ‘monetize’ its upcoming hotel business within 2.5 years of operations; options include listing, sale of assets or hotel REIT
PNB expects to get Rs20bn from the government in the financial year beginning April for farm loan waiver
Power Grid Corp to get a US$600mn loan from the World Bank to strengthen its network
Elecon Engineering on look out for an acquisition in US or Europe in the range of Rs3-4bn
CALS Refineries, promoted by Spice group signs MoU with West Bengal Industrial Development Corp. and Haldia Development Authority for an Rs200bn refinery project in Haldia
Champagne Indage acquires Australian Vintage’s Loxton winery for Rs2.3bn
Blue Dart to increase warehousing capacity to 2mn sq.ft
Rajasthan government stops work on a Cairn India pipeline; says it would result in loss of tax revenues to the state
Amtek Auto to produce 5,000 railway wagons in a JV with a North American wagon supplier
Essar Communications Holdings arm to invest US$450mn to rollout telecom services in Kenya
Lehman Brothers and Deutsche Bank to invest US$500mn in Unitech SPV.
Ranbaxy suffers setback as a Canadian court upholds Pfizer patent for a molecule of cholesterol-lowering drug Lipitor
George Soros buys 2.5% stake in Indiabulls Real Estate for Rs2.8bn
Kribhco plans a Rs40bn power project in Bihar
Economic News
Inflation rises to eleven month high of 5.92%; government cuts import duty on edible oil and rice
DoT says all players can bid up to 10MHz of 3G spectrum rejecting TRAI’s recommendation on the same
Core sector growth halved to 4.2% in January with decline in crude production
Government may consider a proposal to levy 10% export duty on all grades of finished steel
Government proposes cess of up to 6% on coal with high ash content
India expected to attract FDI worth Rs1tn in mining exploration of gold and diamond
Sugar production in Uttar Pradesh is expected to drop by 15% to 7.2mn tons in current crushing season
Sixth Pay Commission recommendations are expected to be submitted to the finance ministry early next week
Non-food credit growth slows down to 21.8% during April-February 2007-08 compared with 29.6% a year ago
Central government staff may get a 50% pay hike
Fiscal deficit for quarter ended December declined to Rs776bn from Rs949bn a year ago
Domestic aviation growth in 2007 declines to 11.5% from more than 32% in the previous year
I&B Ministry considering TRAI proposals to lower license fees for DTH players from 10% to 6%.
Five SEZs projects get approval with four in the IT sector.
Insurance regulator IRDA may limit insurance companies’ investment in mortgage backed securities to 10%
Friday, March 21, 2008
Short selling to be effective from April
The Securities and Exchange Board of India (Sebi) on Wednesday said short-selling and securities lending and borrowing will be operationalised from April 21.
The circular asked stock exchanges and depositories to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the decision, bring the provisions of the circular to the notice of the member brokers/clearing members, depository participants and communicate to the Sebi the status of the implementation of the provisions of the circular in the monthly development report submitted to the market regulator.
Sebi had come out with a circular on December 20, 2007, specifying the broad framework for short selling by institutional investors and a full-fledged securities lending and borrowing scheme for all market participants.
For more subscribe mail us to sheth_jg@yahoo.com ,We provide calls on mobile,yahoo messenger,google,msn,hotmail,rediff,and even on our chat site.Better join to avoid loss and make profit
The circular asked stock exchanges and depositories to make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the decision, bring the provisions of the circular to the notice of the member brokers/clearing members, depository participants and communicate to the Sebi the status of the implementation of the provisions of the circular in the monthly development report submitted to the market regulator.
Sebi had come out with a circular on December 20, 2007, specifying the broad framework for short selling by institutional investors and a full-fledged securities lending and borrowing scheme for all market participants.
For more subscribe mail us to sheth_jg@yahoo.com ,We provide calls on mobile,yahoo messenger,google,msn,hotmail,rediff,and even on our chat site.Better join to avoid loss and make profit
Wednesday, March 19, 2008
700 point gain on the Sensex today
Bulls may attempt another rally for more subscribe for paid calls add sheth_jg@yahoo.com
As mention Yesterday good global clues be long see today what will happen
A gap up opening is in store. The problem, as seen in recent times, is that markets open with a gap and hardly give a chance to pocket quick gains. Face it. After losing money quickly, who doesn’t want an opportunity to make some quick bucks? We won’t debate on whether greed is a moral or economic problem. The Nifty futures trading in Singapore point to a gap-up opening. The bulls will hope to have a blast before one of the longest weekends in the market. Remain guarded in approaching today's trade. We are not sure if this is a dead cat bounce or resumption of another bull phas
The Fed has lowered rates by 75 basis points or 0.75 percent, slightly lesser than what was expected. The interest rate now stands at 2.25%.
The US central bank has cut interest rates in a bid to restore confidence to nervous financial markets and boost the ailing economy. US Treasury Secretary Henry Paulson had admitted earlier on Tuesday that the US economy is facing a "sharp decline".
The Fed has lowered rates six times since September 2007 in a bid to boost the economy, which is reeling from the credit crisis triggered by a slump in the US housing market.
Corporate Front Page
ICICI Bank seeks additional collateral from corporate borrowers of offshore finance.
HDFC to raise Rs40bn debt to finance stake purchase in HDFC Bank.
TCS opens its largest delivery centre in the US at Ohio having a capacity of 1,000 people.
Jaypee Group leads race for ICICI’s 45% stake in exploration firm Prize Petroleum.
Ranbaxy has signed a pact with CD Pharma to market dental drug brand INERSAN in India and Nepal.
Reliance Communications to buy Europe-based specialty WiMax operator.
Maruti Suzuki to ramp-up its plant capacity in Manesar, Haryana, to 3lacs units per year by October 2008.
ICICI Bank has announced country’s largest securitization program of Rs58bn.
REL to hire more engineers and managers to execute contracts worth US$3.65bn.
Indiabulls Power, owned by Indiabulls Real Estate, has won the bid to set-up a 1,600MW Bhaiyathan power project in Chattisgarh.
RCF has lined up an investment plan of Rs76.4bn for setting up an ammonia-urea and phosphatic plant in Mozambique.
MTNL likely to offload 50% stake in Suntel, a Sri Lankan telco.
Reliance ADAG is setting up a cement unit in Madhya Pradesh.
L&T wins contract worth Rs1.7bn from a Chinese firm to supply gasification equipments.
Tata Motors to get US$3bn one-year bridge loan from Ctitgroup and JP Morgan to help finance potential purchase of Jaguar and Land Rover.
Vishal Retail signs an agreement with HPCL for opening stores at its selected outlets across the country.
Orient Global Tamarind has picked up nearly 1% in Axis Bank for Rs2.38bn in open market transactions.
Allied Digital to raise utpo US$100mn through issue of securities in domestic as well as international markets.
DCM Shriram acquires 49% stake in hybrid seeds business from its JV partner for US$13.3mn.
Sical Logistics plans to buy an Indian freight forwarding company.
Barings PE buys 12% in brokerage firm Sharekhan for Rs2.4bn.
Economic News
Corporate advance tax payments rise 110%.
GDP growth may slow down to 8% in 2008-09 says Mr. Montek Singh, Deputy Head of the planning commission.
MMRDA auctioned three plots in Bandra Kurla Complex for Rs13.2bn. The price was significantly lower than Rs27.9bn for a similar transaction three months back.
Government plans to scrap purchase preference policy from 1st April 2008 under which the CPSEs get 10% price preference for government contracts in various areas.
I&B Ministry favours 74% FDI limit for DTH.
Home loan rates have declined in last one year says FM.
Gems & jewelry exports grew 9.3% yoy during April-Feb 2008.
As mention Yesterday good global clues be long see today what will happen
A gap up opening is in store. The problem, as seen in recent times, is that markets open with a gap and hardly give a chance to pocket quick gains. Face it. After losing money quickly, who doesn’t want an opportunity to make some quick bucks? We won’t debate on whether greed is a moral or economic problem. The Nifty futures trading in Singapore point to a gap-up opening. The bulls will hope to have a blast before one of the longest weekends in the market. Remain guarded in approaching today's trade. We are not sure if this is a dead cat bounce or resumption of another bull phas
The Fed has lowered rates by 75 basis points or 0.75 percent, slightly lesser than what was expected. The interest rate now stands at 2.25%.
The US central bank has cut interest rates in a bid to restore confidence to nervous financial markets and boost the ailing economy. US Treasury Secretary Henry Paulson had admitted earlier on Tuesday that the US economy is facing a "sharp decline".
The Fed has lowered rates six times since September 2007 in a bid to boost the economy, which is reeling from the credit crisis triggered by a slump in the US housing market.
Corporate Front Page
ICICI Bank seeks additional collateral from corporate borrowers of offshore finance.
HDFC to raise Rs40bn debt to finance stake purchase in HDFC Bank.
TCS opens its largest delivery centre in the US at Ohio having a capacity of 1,000 people.
Jaypee Group leads race for ICICI’s 45% stake in exploration firm Prize Petroleum.
Ranbaxy has signed a pact with CD Pharma to market dental drug brand INERSAN in India and Nepal.
Reliance Communications to buy Europe-based specialty WiMax operator.
Maruti Suzuki to ramp-up its plant capacity in Manesar, Haryana, to 3lacs units per year by October 2008.
ICICI Bank has announced country’s largest securitization program of Rs58bn.
REL to hire more engineers and managers to execute contracts worth US$3.65bn.
Indiabulls Power, owned by Indiabulls Real Estate, has won the bid to set-up a 1,600MW Bhaiyathan power project in Chattisgarh.
RCF has lined up an investment plan of Rs76.4bn for setting up an ammonia-urea and phosphatic plant in Mozambique.
MTNL likely to offload 50% stake in Suntel, a Sri Lankan telco.
Reliance ADAG is setting up a cement unit in Madhya Pradesh.
L&T wins contract worth Rs1.7bn from a Chinese firm to supply gasification equipments.
Tata Motors to get US$3bn one-year bridge loan from Ctitgroup and JP Morgan to help finance potential purchase of Jaguar and Land Rover.
Vishal Retail signs an agreement with HPCL for opening stores at its selected outlets across the country.
Orient Global Tamarind has picked up nearly 1% in Axis Bank for Rs2.38bn in open market transactions.
Allied Digital to raise utpo US$100mn through issue of securities in domestic as well as international markets.
DCM Shriram acquires 49% stake in hybrid seeds business from its JV partner for US$13.3mn.
Sical Logistics plans to buy an Indian freight forwarding company.
Barings PE buys 12% in brokerage firm Sharekhan for Rs2.4bn.
Economic News
Corporate advance tax payments rise 110%.
GDP growth may slow down to 8% in 2008-09 says Mr. Montek Singh, Deputy Head of the planning commission.
MMRDA auctioned three plots in Bandra Kurla Complex for Rs13.2bn. The price was significantly lower than Rs27.9bn for a similar transaction three months back.
Government plans to scrap purchase preference policy from 1st April 2008 under which the CPSEs get 10% price preference for government contracts in various areas.
I&B Ministry favours 74% FDI limit for DTH.
Home loan rates have declined in last one year says FM.
Gems & jewelry exports grew 9.3% yoy during April-Feb 2008.
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