Wednesday, April 29, 2009

BSE / NSE Shares analysis 29 April 2009

BSE / NSE Shares analysis 29 April 2009

, RCF and Chambal Fertilizers for some decent gains over a short run.  A moderate to sharp rise is likely in these stocks over the next three to five months.  Long term investors can unload a part of their holdings at sharp rallies then and re-enter later at declines.

GTL Infrastructure Limited has posted a net profit of Rs 28.45 million for the year ended March 31, 2009 as compared to net loss of Rs 594.70 million for the year ended March 31, 2008.  Total income has increased from Rs 1521.57 million for the year ended March 31, 2008 to Rs 2745.80 million for the year ended March 31, 2009.  The stock looks fairly attractive at its current price of Rs 29.70.

IT majors Infosys, TCS, Wipro and Tech Mahindra can be retained for medium to long term.  One can consider fresh buying in these stocks at sharp declines.  Though some weakness is not ruled out in coming weeks, these stocks look set for a sharp rise over the next 12 - 15 months.

Canara Bank has posted a net profit of Rs 718.81 crore for the quarter ended March 31, 2009 as compared to Rs 464.06 crore for the quarter ended March 31, 2008.  Total income has increased from Rs 4502.27 crore for the quarter ended March 31, 2008 to Rs 5500.35 crore for the quarter ended March 31, 2009.  The stock (cmp Rs 189) is a good one for long term. There may be some weak spells in the near run and one can use them to increase exposure.

The Nifty (3433) will have to decisively break a resistance at 3440 to move up further today.  If it manages to do that, then a move to 3455 or even higher is likely.  On the downside, a fall to 3400 accompanied by heavy selling can result in a slide to 3370 or even lower.

After two days of sharp losses, Asian markets have rebounded strongly today.  Data showing economy edging its way up contributed to the positive trend.

Shangahi, Hong Kong, Singapore, Kotea and Taiwan have all posted strong gains today.  Australian market ended lower.

One willing to wait long term can go in for Sun Pharma, Lupin, Aurobindo Pharma and Glenmark Pharmaceuticals at current levels or slightly lower.  Though some weak spells are not ruled out in the near run, a fairly decent upmove is also possible.

MAN Industries has bagged a prestigious order worth Rs 1,340 crore from Middle East.  With this order, the order book of the company stands at around Rs 2,000 crore.  The stock, buoyed up by thir big order win, has vaulted 10% to Rs 31.80 now.

Bank of India has posted a net profit of Rs 810.37 crore for the quarter ended March 31, 2009 as compared to Rs 757.04 crore for the quarter ended March 31, 2008. Total Income has increased from Rs 4154.86 crore for the quarter ended March 31, 2008 to Rs 5278.47 crore for the quarter ended March 31, 2009.  The Bank of India stock is traded at Rs 255, up 1.6% over its previous closing price. One looking at long term can stay invested in the stock with a stop loss around Rs 180.

Jaiprakash Associates (cmp Rs 131.50) is a good stock for long term.  However, one looking for fresh exposure can wait for now. The stock can drift lower and is a good buy at Rs 110 - 115 levels.

Maruti Suzuki (down 1.6% at Rs 788) can drift down a bit from current levels.  However, one holding the stock with a long term view can stay invested and even look to buy more at declines.  Hero Honda and Tata Motors can give fairly solid returns over a medium run. Fresh exposure can be considered at 10 - 15% down from their current levels.

Patni Computer Systems has reported a 7.7% sequential surge in operating margin.  The company, in line with its guidance, posted a revenue of $156.4 million in the first quarter ended 31 March 2009.  The stock has jumped 7.5% to Rs 162 on strong buying support. A further upmove looks very likely in the near run.

Telecom major Bharti Airtel Limited has posted a net profit after tax of Rs 20749.90 million for the quarter ended March 31, 2009 as compared to Rs 17923.00 million for the quarter ended March 31, 2008. Total Income has increased from Rs 74468.20 million for the quarter ended March 31, 2008 to Rs 90496.60 million for the quarter ended March 31, 2009.  The stock is up with a modest gain at Rs 730. Though the stock may see some weak spells in the near run, a strong upmove is not ruled out altogether.  One holding the stock with a long term view can stay invested and pick up more at sharp declines.

Compiled and Brought to you by 

Equity Research Team

Intelligent Investor -
Invest Advisory Arm of

Ravina Consulting
Bangalore India

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