Showing posts with label NSE Trading. Show all posts
Showing posts with label NSE Trading. Show all posts

Monday, August 3, 2009

Closing Bell 22 July 2009

Closing Bell 22 July 2009

The BSE-Sensex closed below the 15,000 level today as selling pressure emerged in heavyweights from the engineering and software sectors. The overall market breadth at close though, was equally poised for there was one loser for every gainer on the BSE. India was in fact the leading loser from among Asian markets, and was followed by Hong Kong (down 1.3%), and Singapore (marginally down). Key gainers in Asia included China (up 2.6%) and Japan (up 0.7%). Stocks in Europe have opened in the red today.

The BSE-Sensex and NSE-Nifty closed down by around 220 points (1.5%) and 70 points (1.5%) respectively. The BSE-Midcap and the BSE-Smallcap indices lost lesser as these were down by about 0.9% and 0.4% respectively. At the time of writing, the rupee was trading at 48.60 to the US dollar.

Key losers from the BSE-A group included India Cements, LIC Housing Finance, and IDFC. Stocks that bucked the trend today were Moser Baer, Lupin, and Gujarat NRE Coke.

HDFC, which announced its 1QFY10 results just a short while ago, emerged as the biggest loser among the Sensex and Nifty stocks. The company - among India's largest home finance lenders - has seen its net profits grow by around 21% YoY during the quarter. This has been on the back of an almost equivalent growth in interest income. More details are still awaited from the company.

Carrying on from where they had left yesterday, IT stocks emerged among the biggest losers today. HCL Tech, Tech Mahindra, and TCS saw significant selling pressure. Wipro, which announced its 1QFY10 results early today morning, was also at the receiving end. While the company's performance could be termed fair in a poor environment like now, the management has also sounded caution for the short to medium term future. It sees its clients remaining slow in their decisions with respect to discretionary spending on technology. However, the management is confident about retaining Wipro's market position on account of strong deal pipeline which is spread across geographies and industry verticals. To propel growth in the medium to long-term, the company will revamp investment in newer technologies like cloud-computing, renewable energy and environment sector, where it sees a lot of traction building. We see the dark clouds of slowdown in tech spending to still take some time to recede on the horizon, especially given that the biggest tech spenders in the US and Europe are still reeling under significant financial constraints.

Engineering stocks were also amongst the key losers today. Except stocks like Punj Lloyd and Welspun Gujarat that were amongst the gainers, others like Thermax and Voltas ended deep in the red. BHEL, which announced its June quarter results a short while ago, also closed weak. The company, India's largest public sector unit in the engineering industry, clocked a strong sales growth of 29% YoY during 1QFY10. This was helped by a 30% YoY growth in sales of the power division, which provides generation equipments to electricity utilities like NTPC in India. Importantly, the company managed to improve its operating margins to 9.2% thereby aiding a 22% YoY growth in net profits. Such results from BHEL come at a time when the capital goods sector is reeling under demand constraint led by economic slowdown and liquidity crisis. Though we still need to hear the management today evening as to what's their take on the macro environment in general, and BHEL's future in particular.

The Indian markets nosedived into the red during the previous two hours of trade on account of heavy selling activity across sectors. Stocks from the IT, engineering and auto sectors were at the receiving end, while select stocks from the realty and energy sectors are trading firm. The overall market breadth is positive, with total gainers outnumbering losers in a ratio of 2.3 to 1 on the BSE.

The BSE-Sensex and NSE-Nifty are trading weak, down by around 170 points and 60 points respectively. The BSE-Midcap and the BSE-Smallcap indices are also trading lower, down by around 0.6% and 0.3% respectively. The Rupee is trading at 48.53 to the Dollar.

As per a leading business daily, State Bank of India has received the government's nod to make a public offer of additional shares in order to raise capital. The bank would raise Rs 170 bn by way of sale of additional shares. The proposed offering would bring down the government's stake in the bank to 51% from 59.4%. The bank's capital adequacy ratio at the end of FY09 stood at 14.25%. SBI's management had earlier indicated that the bank will raise capital in FY10 to prop up its capital adequacy, as it is targeting a loan growth of 25% for the fiscal. The move is expected to enable the bank to cater to its targeted growth. The stock, along with its peers PNB and IDBI Bank, is trading weak.

Pharma stocks are trading mixed. While Piramal Healthcare is trading firm, Dr. Reddy's and Cipla are in the red. Dr. Reddy's announced its 1QFY10 results yesterday. The company's topline reported an impressive growth of 20% YoY, driven by the drug 'Imitrex' ('Sumatriptan') and higher revenues from the key markets of North America and India. A sharp fall in raw material costs, R&D and other expenses (as percentage of sales) led to the substantial 9.8% improvement in operating margins during the quarter. The net profit recorded a splendid 160% YoY growth mainly due to the strong performance at the operating level, and reduction in interest costs and depreciation charges. The German company Betapharm and Russia did not do too well during the quarter and for the full year, Dr.Reddy's expects the US, India, the semi-regulated markets and the custom manufacturing business to be the key growth drivers.

Persistent buying activity across sectors during the previous two hours of trade led the Indian markets to gain ground. Currently, stocks from the realty, metal and banking sectors are leading the pack of gainers, while select pharma and telecom stocks are trading weak. The overall market breadth is positive, with total gainers outnumbering losers in a ratio of 2.3 to 1 on the BSE.

The BSE-Sensex and NSE-Nifty are trading firm, up by around 200 points and 50 points respectively. The BSE-Midcap and the BSE-Smallcap indices are also trading higher, up by around 1.4% and 1.7% respectively. The Rupee is trading at 48.38 to the Dollar.

Pharma stocks are trading mixed. While Sun Pharma and Biocon are trading firm, Glenmark Pharma and Cipla are in the red. As per a leading business daily, Ranbaxy has received the final approval from the Canadian drug regulator, Therapeutic Products Directorate (TPD) for manufacturing and marketing its cholesterol lowering drug in the Canadian markets. As such, the company will market its cholesterol lowering drug, 'Ran-Simvastatin' in strengths of 5, 10, 20 and 40 mg. The product will be priced at an affordable rate, thus garnering higher volumes in the process. The total generic market size of the drug is CAD$ 152 m (about Rs 6,660 m) in the Canadian market. During 1QCY09, the North American market (including the US) contributed around 26% to the company's total revenues. This development will help Ranbaxy bolster its sales from the North American market, which is already under strain due to the issues Ranbaxy is facing there. The stock is trading marginally higher.

UltraTech Cements announced its 1QFY10 results yesterday. The company reported nearly 31% YoY growth in the topline on account of sustained demand for the commodity. The same was the result of government initiatives to boost rural development, infrastructure and housing. The operating margins expanded by 6.9% as costs grew at a slower pace as compared to the topline. The company had set up captive power plants to contain energy costs. This captive power generation and softening of coal prices led to the 7% YoY fall in variable costs. Net profits reported a 58% YoY growth. The board has approved an additional capex of Rs 6 bn and with this, the total capital outlay for the company would be Rs 20 bn. The same will be spent over the next two years to set up a captive power plant, waste heat recovery system and a grinding facility. These moves are beneficial from a long term perspective as it will enable the company to keep a check on rising costs of operation. At the same time, in the medium term, the additional upcoming capacities are likely to pressurize realisations and hence, profitability. The stock is currently trading higher.

The Indian markets began the day on a strong note today as buying activity was witnessed in stocks across sectors with realty, metals and banking leading the pack. On the other hand, stocks from the FMCG and IT space are amongst the lowest gainers. The overall decline to advance ratio stood at 3.3: 1 on the BSE. As regards global markets, the US and the European markets ended higher yesterday. The Asian markets are currently trading firm.

The BSE Sensex is trading higher by around 190 points, while the NSE Nifty is currently trading higher by about 50 points. The BSE Midcap and the BSE Smallcap indices are trading firm, higher by 1.6% and 1.7% respectively. The Rupee is trading at 48.32 to the Dollar.

Software stocks are currently trading firm led by Patni Computers, Satyam and Infosys. IT major Wipro announced its results this morning. The company witnessed a 3% QoQ decline in topline during 1QFY10. The reason behind the same was the slowdown in its IT services business, which contributed to about 77% of the company's revenues. However, it was able to expand its operating margin by 0.5% QoQ to 21.3% during the quarter. As per the company, this was manageable due to dedicated cost containment measures. As for profitability, the company was able to record a marginal 0.5% QoQ growth in the bottomline. This was on the back of decreased interest and depreciation charges as compared to the preceding quarter. During the quarter, the company added 26 clients in its IT services business. Its employee strength stood at 98,521 (IT services) at the end of 1QFY10, as against 95,675 in the corresponding quarter last year.

Steel stocks are currently trading firm led by Tata Steel and JSW Steel. As per a leading business daily, steel major SAIL has decided to further delay its expansion plans by about two years. As per the company's earlier targets, it was expected to increase its capacity to 26.2 m tonnes (hot metal) by 2012. SAIL now intends to have an installed capacity of 23.4 m tonnes by FY12 and the balance will be set up by 2014. The reason behind the same is the economic slowdown coupled with a slower than expected growth in domestic steel demand. It may be noted that the company had originally proposed to increase its capacity to 26.2 m tonnes by FY12. However, it brought forward its capacity addition plan to 2010 due to pressure from the steel ministry. Subsequently, the company had revised its plan due to the economic slowdown.

He may have received flak from some full-blooded capitalists but if a survey by Bloomberg is to be believed, Ben Bernanke, the US Fed Chairman has received top marks for combating the worst financial crisis since the Great Depression. And it wasn't a marginal verdict in favour of the 55-year old Bernanke. As many as 75% of those who were polled had said they were impressed with Bernanke. What more, he was ranked higher than his counterparts at other major central banks, including European Central Bank President, Jean-Claude Trichet. Indeed, ever since the crisis broke out Bernanke has moved with lightening speed, reducing interest rates to near zero levels and in no time, doubling the Fed's balance sheet by injecting trillions of dollars into the economy, a move that many believe has helped avoid a repeat of the Great Depression and has helped stoke chances of recovery sooner than expected.

However, not everyone has appreciated the move. There are some like Jim Rogers who have taken an extremely critical view of things, saying that by doing what Bernanke has done, we have set ourselves up for an even bigger crisis down the road. There is of course a lot of merit in his argument. By flooding the system with unprecedented liquidity, Bernanke has raised the threat of runaway inflation manifold and his biggest challenge would be to rein in the same without causing adverse effects on the economy. If he indeed manages to do the same, he might get top marks in our books as well.

Thank God for China, says US Inc.
At nearly US$ 600 bn, China's stimulus package is a lot less than that unveiled by the US, which stands at US$ 800 bn. But that's not the full story. If one were to compare on the basis of percentage of GDP, then China's stimulus far exceeds that of the US and this perhaps explains why a lot of US companies seem to be going ga-ga over China while announcing their most recent quarterly results. As per a leading daily, China seems to be proving one of the few bright spots during the US earnings season as the dragon nation's huge stimulus package is supporting demand for a variety of products, ranging from computers to construction equipment. Although the earnings season is far from over, the list of companies that have already mentioned China as a positive has already reached notable proportions. In fact, the number of China admirers is only likely to grow in the second half of the result season as investment in the country picks up and the multiplier effect of the stimulus further kicks in. Little wonder, people are expecting the country to recover the fastest from the global financial crisis. India isn't in a very bad position either. Although Planning Commission Deputy Chairman Montek Ahluwalia has stated that there could be no further fiscal stimulus packages for India, successful implementation of the ones that have already been approved is likely to see us through a decent enough economic growth. Furthermore, if the monsoon holds up well, we might end up with a GDP growth in the region of 6%-7%, which given the circumstances elsewhere, we would happily accept.

BSE / NSE Market Voices 22 July 2009

Market Voices 22 July 2009

Equities opened on a bright note on strong global cues and moved up further in morning trade but plunged deep down into the red as profit taking took centre stage again. A weak start in European markets and lower US index futures also contributed to the decline. Recording losses for the second successive session, the Sensex and Nifty ended sharply lower today.

The Sensex, which was up by over 300 points at one stage, ended the day at 14,840.63 (provisional) with a loss of around 222 points or 1.47%. The Nifty closed at 4402.35 with a loss of 66.75 points or 1.49%. The Sensex and Nifty plunged to 14,786 and 4380 respectively.

Capital goods, information technology, auto, power and pharma stocks declined sharply. Realty and PSU outperformed the market. After trading firm in the morning, midcap and smallcap stocks turned subdued as the session progressed. The market breadth was marginally negative at close.

ONGC moved up by over 4%. DLF ended 1.3% up. HDFC went down by over 5.5%. BHEL, Grasim, JP Associates, Tata Steel, TCS Reliance Infra, Maruti, M&M, RIL, Hindalco, ACC, L&T, RComm and Infosys also closed on a weak note. HCL Tech, Cipla, Cairn, ABB, SAIL and Tata Comm were among the major losers in the Nifty. GAIL India ended on a firm note.

Hold Yes Bank, says VK Sharma of Anagram Stock Broking

Tata Steel can give 5-10% return, says VK Sharma, of Anagram Stock Broking, on CNBCTV18

With more results to hit the market over the next few sessions, investors have turned cautious and are looking to book profits after recent sharp gains.

The Sensex is down by over 200 points at 14,855 and the Nifty is down by around 65 points at 4405.

Cipla touched an intraday high of Rs 284.90 and an intraday low of Rs 268.50. At 2:52 pm, the share was quoting at Rs 270.30, down Rs 12.25, or 4.34% on the NSE. It was trading with volumes of 1,418,103 shares. Yesterday the share closed down 0.21% or Rs 0.60 at Rs 282.55.

Drug maker Piramal Healthcare Limited has reported strong earnings. The company has posted a net profit of Rs 741.10 million for the quarter ended June 30, 2009 as compared to Rs 509.40 million for the quarter ended June 30, 2008. Total income has increased from Rs 4892.20 million for the quarter ended June 30, 2008 to Rs 5697.60 million for the quarter ended June 30, 2009. The stock has gained 3.3% to Rs 332.50. Ahead of announcement of results, the stock had drifted down to around Rs 322 earlier this afternoon.

Thermax Limited has signed technology agreements with two global leaders for advanced wastewater treatment. The company has announced that it has signed agreements with GE Water, USA and Wehrle Umwelt GmbH, Germany, for advanced solutions in sewage treatment and for treatment of hard-to-treat industrial effluents respectively. The Thermax stock, down 5.7% at Rs 428, is a good one for long term. However, fresh buying can be avoided for now. Small quantities can be picked up at sharp falls.

Moser Baer touched an intraday high of Rs 82.85 and an intraday low of Rs 78. At 2:20 pm, the share was quoting at Rs 81.80, up Rs 4.30, or 5.55%. According to sources, the company does not have to pay Philips any settlement fees. It is exploring acquisitions to augment technology gaps reports CNBC-TV18.

India Cements can move upto Rs 156, says Anu Jain of India Infoline on CNBC-TV18

GTL Limited has posted a net profit Rs 435.769 million for the quarter ended June 30, 2009 as compared to Rs 256.326 million for the quarter ended June 30, 2008. The stock, which had slipped after a positive start, is up just marginally at Rs 300.50 at present. One holding the stock with a long term plan can stay invested for now.

Glenmark Pharma can touch Rs 280, says Anu Jain of India Infoline

Selling has intensifed in mid afternoon trade and reeling under pressure, stocks across the board have declined sharply.

Profit taking is the prime reason for the market's sharp fall this afternoon. A weak start on the European bourses and lower U.S. index futures have also contributed to the fall. The Sensex, up pver 300 points at one stage today, is down with a big loss of 186 points at 14,876 now. The Nifty has tumbled to 4412.50, recording a loss of 56.60 points. IT, capital goods, power and auto stocks are among the major losers.

TCS has resistance at Rs 515, says Anu Jain of India Infoline on CNBC-TV18,

Grasim Industries touched an intraday high of Rs 2,824.90 and an intraday low of Rs 2,679. At 1:14 pm, the share was quoting at Rs 2,702, down Rs 88.25, or 3.16%.

It was trading with volumes of 43,156 shares. Yesterday the share closed up 0.95% or Rs 26.15 at Rs 2,790.25.

Axis Bank (Rs 868) can rise to Rs 910 - 915 where it is likely to face some resistance.

Short term investors can book partial or full profits at those levels and get back into the counter later at declines.

Jindal Steel & Power can rise by 6-7%, says Anu Jain of India Infoline on CNBC-TV18

Keep stop loss at Rs 224 on Punj Lloyd, says Anu Jain of India Infoline on CNBC-TV18

As expected, profit taking has pushed the market down into the red this afternoon.

Though more selling is not ruled out, one holding blue chip stocks can stay invested for now and use sharp dips to add small quantities. The market is likely to see some big rallies and a few equally big, or at times bigger, falls in the near term. Caution still remains the watchword.

Canara Bank's net profit surged to Rs 555.33 crore for the quarter ended June 30, 2009 as compared to Rs 122.68 crore for the quarter ended June 30, 2008. Total Income has increased from Rs 4099.05 crore for the quarter ended June 30, 2008 to Rs 5031.95 crore for the quarter ended June 30, 2009. The stock is up maginally at Rs 270. Investors can continue to hold the stock and pick up more at dips.

Buy MphasiS and Tech Mahindra on decline, says Anu Jain of India Infoline on CNBC-TV18

India Cements touched an intraday high of Rs 154.40 and an intraday low of Rs 144.10. At 12:26 pm, the share was quoting at Rs 144.70, down Rs 6.65, or 4.39%.

India Cements has come out with Q1FY10 numbers. Its revenues were down 2% at Rs 953 crore from Rs 973.69 crore, YoY.

Shares of Super Tannery India Limited are up on unusually large volumes.

The stock has vaulted 20% to Rs 6.86 on the back of an announcement from the company that its board will meet on 31 July 2009 to consider and recommend a bonus issue.

On BSE, around 1.93 lakh shares have changed hands at the counter, far higher than an average daily volume of around 6750 shares.

Vijaya Bank (Rs 43.50) is likely to give very good returns over a short run.

One can consider buying this stock at current levels. More quantities can be added to the portfolio at declines.

A decisive breakout at Rs 48 can result in a surge to Rs 55 - 58.

12:20 PM: Oil and Natural Gas Corporation, ONGC touched an intraday high of Rs 1,110.10 and an intraday low of Rs 1,044. At 12:04 pm, the share was quoting at Rs 1,094.70, up Rs 49.90, or 4.78%.

It was trading with volumes of 276,698 shares. Yesterday the share closed down 1.49% or Rs 15.80 at Rs 1,044.80.


NTPC: Sell below 206.80 with a stop loss of 208.50, ICICIdirect.com

India Cements Limited has posted a net profit of Rs 1442.80 million for the quarter ended June 30, 2009 as compared to Rs 1421.40 million for the quarter ended June 30, 2008. The firm's total income increased from Rs 8763.30 million for the quarter ended June 30, 2008 to Rs 9602.50 million for the quarter ended June 30, 2009. Following the announcement, the stock has declined sharply to Rs 146, recording a loss of nearly 3.5%.

Buy IT stocks on correction, says Sandeep J. Shah of Sampriti Capital on CNBC-TV18

Brahmaputra Infraprojects has bagged two orders worth an aggregate Rs 433 crores from Jaiprakash Associates for the construction of Yamuna Expressway connecting Greater Noida to Agro.

The stock has moved up by 5% to Rs 59.75.

Infosys Technologies touched an intraday high of Rs 1,972.00 and an intraday low of Rs 1,952. At 11:25 am, the share was quoting at Rs 1,962.80, up Rs 19.70, or 1.01%. The company has bagged order for eBiz project from Commerce Ministry, reports CNBC-TV18. It was trading with volumes of 58,069 shares. Yesterday the share closed down 1.50% or Rs 29.60 at Rs 1,943.10.

ITC: Sell below 218.50 with a stop loss of 220.50, ICICIdirect.com

Hotel Leela Ventures : Buy above 32 for the target of 33.30 / 34.50 / higher/ with a stop loss of 31.60, ICICIdirect.com

Tata Steel : Buy above 410 for the target of 418 / 422 / higher/ with a stop loss of 406, ICICIdirect.com

Some solid upside looks likely for infrastructure, cement and steel stocks in over the next 3 - 6 months.
One holding quality stocks in these sectors can stay invested and look at buying more in a staggered way at declines.
Nifty Futures: Sell below 4463 with a stop loss of 4465, ICICIdirect.com

Reasonably strong results and expectations that government will start some disinvestments soon are driving the market up.
Still, with monsoon rains not turning out to be sufficient, there is a possibility of some strong rounds of selling in the near run. However, a few positive surprises from India Inc and strong global markets could cap downside

Dr Reddy's Laboratories has moved up by over 3% to Rs 813 on strong results. The stocks is expected to move up further in the near run. However, a few rounds of selling on profit taking is not ruled out. One holding the stock can stay invested and those with a low appetite for risk can book some profits at rallies.

Welspun Gujarat Stahl Roh touched an intraday high of Rs 201.50 and an intraday low of Rs 193.40. At 10:06 am, the share was quoting at Rs 201.15, up Rs 9.30, or 4.85% on the NSE. It was trading with volumes of 928,852 shares. Yesterday the share closed down 2.81% or Rs 5.55 at Rs 191.85.

Wipro (cmp Rs 462) can be picked up for intra-day. The stock is likely to move on to Rs 472 - 475 or further up if the current momentum at the counter sustains for a while. Investors holding the stock can stay invested and buy more of it at sharp dips. Even over a short to medium run, a good upmove looks very likely.

Thermax touched an intraday high of Rs 440 and an intraday low of Rs 419.25. At 10:06 am, the share was quoting at Rs 425, down Rs 28.95, or 6.38%. it was trading with volumes of 5,661 shares. Yesterday the share closed down 0.23% or Rs 1.05 at Rs 453.95.

Brokerage Recommendations 22 July 2009

Brokerage Recommendations 22 July 2009

Buy Suzlon with a target of Rs 106 and stop loss of Rs 84-76, says Anil Maghnani, technical analyst, on Zee Bsuiness. The stock is currently trading at Rs 91, up 0.55% on the BSE.

Buy Welspun Gujarat with a target of Rs 233 and stop loss of Rs 190, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 200, up 4.3% on the BSE.

Buy HUL with a target of Rs 282 and stop loss of Rs 263, says Akshata Deshmukh, technical analyst, on Zee Business, as closing market strategy.

Buy Indiabulls Real Estate with a target of Rs 234 and stop loss of Rs 212, says Akshata Deshmukh, technical analyst, on Zee Business, as closing market strategy.

Buy Reliance Communications with a target of Rs 230-245 and stop loss of Rs 279, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz, as closing market strategy. » Send to friends


In an F&O call, sell Nifty July futures with a target of 432 and stop loss of 4475, says NIshant Jain, technical analyst, on CNBC Awaaz.

In an F&O call, sell Nifty July futures with a target of 4375-4335 and stop loss of 4490, says Shrikant Chouhan, technical analyst, on CNBC Awaaz.

In an F&O call, sell Nifty July futures with a target of 4300-4250 and stop loss of 4560, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. He advises sell on rallies.

In an F&O call, buy Nifty July futures with a target of 4600 and stop loss of 4300, says Hardik Jain, technical analyst, on CNBC Awaaz. As long as Nifty trades above 4300, the market will head upwards after short-term weakness, he says.

Buy GMR Infra with a target of Rs 152-155 and stop loss of Rs 135, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 138, up 0.51% on the BSE.

Buy Uttam Galva with a target of Rs 63 and stop loss of Rs 53, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 59, up 2.9% on the BSE.

Buy Maruti Suzuki with a target of Rs 1290 and stop loss of Rs 1209, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1230, down 0.80% on the BSE.

Buy JP Hydro around Rs 82.70 with a short-term target of Rs 95, medium-term target of Rs 100 and stop loss of Rs 70, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 80, down 0.49% on the BSE.

Buy Punj Lloyd with a target of Rs 249.50 and stop loss of Rs 223.30, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 237, up 2.8% on the BSE.

Buy Essar Oil around Rs 138 with a short-term target of Rs 165, medium-term target of Rs 170 and stop loss of Rs 120, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 136, down 2.3% on the BSE.

Buy PFC with a target of Rs 239 and stop loss of Rs 218, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 219, down 2.88% on the BSE.

Hold Mahindra Holidays as it is looking positive, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 320, he adds. The stock is currently trading at Rs 351, down 0.29% on the BSE.

Buy Tech Mahindra with short-term target of Rs 900, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 740, he adds. The stock is currently trading at Rs 783, down 3.43% on the BSE.

Hold HUL with a target of Rs 280 and stop loss of Rs 263, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. The stock is currently trading at Rs 267, down 0.85% on the BSE. » Send to friends


Buy Jindal Steel around Rs 2700 with a short-term target of Rs 2850, medium-term target of Rs 3100 and stop loss of Rs 2600, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 2810, up 0.27% on the BSE.

Hold Gujarat Ambuja Export and exit at Rs 25, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 14, he adds. The stock is currently trading at Rs 19, up 3.54% on the BSE.

Hold IFCI with target of Rs 65, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 46, he adds. The stock is currently trading at Rs 48, down 2.51% on the BSE.

Buy Oracle Finance around Rs 1290 with a short-term target of Rs 1380, medium-term target of Rs 1450 and stop loss of Rs 1230, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 1300, down 1.04% on the BSE.

Buy Axis Bank as it is good for both short and long-term investment, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. The stock is currently trading at Rs 864, down 2.04% on the BSE.

Hold Glenmark Pharma with target of Rs 320 in 15-20 trading sessions, says Mandar Jamsandekar, technical analyst, on NDTV Profit. Keep trailing stop loss of Rs 245, he adds. The stock is currently trading at Rs 247.80, down 6.4% on the BSE.

Hold Satyam with target of Rs 108, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of Rs 85, he adds. The stock is currently trading at Rs 92.90, down 1.6% on the BSE. » Send to friends


Hold Wipro with target of Rs 500-525, says Ashish Maheshwari of Global Capital Market on CNBC Awaaz. The stock is currently trading at Rs 454, down 0.9% on the BSE.

Hold GMR Infrastructure with target of Rs 180, says MB Singh, technical analyst, on Zee Business. Keep stop loss below Rs 110, he adds. The stock is currently trading at Rs 139.10, up 1.1% on the BSE.

Hold DLF with short term target of Rs 400, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 335, he adds. The stock is currently trading at Rs 360.50, up 5% on the BSE.

Buy Jindal Steel & Power with target of Rs 3530 in 18-20 trading sessions, says Mandar Jamsandekar, technical analyst, on NDTV Profit. Keep stop loss of Rs 2718, he adds. The stock is currently trading at Rs 2870, up 2.4% on the BSE.

Buy Tech Mahindra at current levels with medium target of Rs 1200, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 801, down 1.3% on the BSE.

Hold REC with target of Rs 200, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 170, he adds. The stock is currently trading at Rs 178.05, up 2.2% on the BSE.

Buy Satyam at current levels with short-to-medium target of Rs 120, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 95.75, up 1.4% on the BSE.

Traders should buy IDBI Bank at Rs 96 with target of Rs 103-105, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of Rs 92, he adds. The stock is currently trading at Rs 103.85, 1.6% on the BSE.

Buy L&T with short-to-medium-term target of Rs 1790-1800, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1487.10, up 1.1% on the BSE.

Hold Glenmark Pharma with target of Rs 350-360, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 230, he adds. It has resistance at Rs 268, he says. The stock is currently trading at Rs 258.10, down 2.6% on the BSE.

Hold Glenmark Pharma with target of Rs 280, says Anu Jain, technical analyst, on CNBC TV18. Keep stop loss of Rs 257, she adds. The stock is currently trading at Rs 258.90, down 2.3% on the BSE.

Hold Aban Offshore with medium-term target of Rs 1200, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 939, up 2.7% on the BSE.

Hold RIL with target of Rs 2080-2100, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of Rs 1960, he adds. The stock is currently trading at Rs 2044.90, up 1.4% on the BSE.

Hold Welspun Gujarat with medium-term target of Rs 250 by October 31 this year, says Rajat Bose, technical analyst, on CNBC Awaaz. Keep stop loss below Rs 167, he adds. The stock is currently trading at Rs 205, up 6.8% on the BSE.

Buy Dr Reddy's with target of Rs 825 and above, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. It is in a positive uptrend now, he adds. The stock is currently trading at Rs 809.20, up 2.5% on the BSE.

Buy Bhushan Steel with target of Rs 870, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 650, he adds. The stock is currently trading at Rs 730, up 2.5% on the BSE.

Buy Tata Steel with targets of Rs 422-427 and then 445, says Pradeep Surekha, technical analyst, on Zee Business. Keep stop loss of Rs 400, he adds. The stock is currently trading at Rs 419.60, up 1.9% on the BSE.

Buy Deccan Chronicle on dips or above Rs 84, says Rajat Bose, technical analyst, on CNBC Awaaz. It has resistance at Rs 90-95, he adds. The stock is currently trading at Rs 89, up 8.9% on the BSE.

Buy Ranbaxy with target of Rs 300 plus, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Keep stop loss of Rs 250, he adds. The stock is currently trading at Rs 270.90, up 0.5% on the BSE.

Buy SRF with intra-day target of Rs 127, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 120, he adds. The stock is currently trading at Rs 123.05, up 0.9% on the BSE.

Buy Zuari Industries with intra-day target of Rs 300, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 284, he adds. The stock is currently trading at Rs 296.10, up 2.4% on the BSE.

Sell Glenmark Pharma with intra-day target of Rs 245, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 268, he adds. The stock is currently trading at Rs 255.45, down 3.6% on the BSE.

Buy Deccan Chronicle with intra-day target of Rs 88, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 78, he adds. The stock is at Rs 81.70, down 1.4% on the BSE.

Sell ICICI Bank at Rs 773 with intra-day target of Rs 756, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 784, she adds. The stock is at Rs 772, down 1.9% on the BSE.

Sell Kingfisher Airlines with intra-day target of Rs 46, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 49.25, he adds. The stock is at Rs 48.40, down 4.9% on the BSE.

Buy Axis Bank at Rs 884 with intra-day target of Rs 899, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 870, she adds. The stock is at Rs 882.85, down 0.4% on the BSE.

Closing Bell 21 July 2009

losing Bell 21 July 2009

The Indian indices languished below the dotted line throughout today's trading session on account of sustained selling activity witnessed among the index heavyweights. The BSE-Sensex ended the day lower by around 125 points, while the NSE-Nifty closed lower by 33 points. Stocks from the mid-cap index also ended in the negative territory, down by 0.19%. However, stocks from the small-cap index closed in the positive, up by 0.24%. Stocks from the software and power sectors led the pack of losers on the bourses today. While selling pressure was witnessed across sectors, select stocks from the metals and auto sector garnered investors' interest. The overall market breadth was negative with losers outnumbering gainers by a ratio of 1.3 to 1 on the NSE.

While Asian markets closed mixed, the European indices are currently trading firm. The Rupee was trading at 48.41 against the US dollar at the time of writing.

As per a leading business daily, Suzlon Energy has raised US$ 201.9 m (about Rs 10 bn) by issuing securities in the global markets, of which US$ 804 m has been issued through Global Depository Receipts (GDRs) and the remaining US$ 93.9 m through Foreign Currency Convertible Bonds (FCCBs). The company has issued 14.6 m GDRs at US$ 7.4 per unit. According to the terms of the issue, each GDR would entitle the holder to get it converted into four equity shares. The company's debt to equity ratio at the end of FY09 was as high as 1.7. Prior to this GDR issue, Suzlon was looking at a number of options to raise funds to lower this high debt and selling a part of its stake in its Belgian subsidiary Hansen Transmissions was one such option. Having raised funds through the GDRs and FCCBs issued, the company is likely to use these resources to lower its debt burden going forward. The stock closed in the red.

Yes Bank announced its 1QFY10 results some time back. The bank's interest income recorded a growth of 31% YoY during the quarter, on the back of 25.5% YoY growth in the advances. The higher growth in interest income is led by an increase in income from the treasury and corporate banking segments, which grew by 57% YoY and 21% YoY respectively. The non-fund based income more than doubled during the quarter. The cost of debt declined on account of deposit mobilisation through the SME (Small and Medium Entrepreneurs) and retail clients. Despite the higher provisions, which increased more than five times, the net income recorded a growth of 84% YoY during the quarter. The net non-performing assets increased to 0.24% of total advances from 0.17% in the same quarter last year. The bank's capital adequacy ratio remained strong at 17.63% during the end of 1QFY10. The stock ended the day on a flat note.

As per the ministry, the cement output in the current fiscal is expected to grow by around 13% to 212.4 MT. The production of cement by FY11 and FY12 is expected to rise to 23.16 MT and 262.61 MT respectively. The higher demand for the commodity has prompted cement firms to keep raising their output. In 1QFY10 cement consumption increased by 11% YoY. The same is on account of delayed monsoon and upcoming infrastructure projects coupled with stimulus packages announced by the government which supported rural housing demand. The demand growth is expected to sustain as government spending on infrastructure projects, as outlined in the Budget, gathers further momentum. The sector is expected to witness an addition of 60 to 70 MT of capacity over the next two to three years. While this is a positive from a long term standpoint, in the medium term additional capacities are likely to exert downward pressure on cement prices.

Though still in the red, markets shed some of their early losses during the previous two hours of trade. Currently, stocks from the software, energy and engineering sectors are leading the pack of losers, while select stocks from the metal, auto and telecom sectors are trading firm. The overall decline to advance ratio is poised at 1.2 to 1 on the BSE.

The BSE-Sensex and NSE-Nifty are trading weak, down by approximately 45 points and 15 points respectively. However, the BSE-Midcap and the BSE-Smallcap indices are trading higher, up by approximately 0.2% and 0.3% respectively. The Rupee is trading at 48.27 to the US dollar.

Steel stocks are trading higher currently, led by Tata Steel, JSW Steel and SAIL. As per a leading business daily, Tata Steel plans to raise around US$ 500 m through issue of global depository receipts (GDR) priced at US$ 7.6 each. The company will issue around 65 m GDRs, each GDR representing one share. It may be noted that Tata Steel plans to raise the capacity of its Jamshedpur plant from 6.8 m tonnes currently to 10 m tonnes by FY11 at an estimated investment of Rs 120 bn (approximately US$ 2.5 bn). It is also developing its overseas mining project at Mozambique which is likely to be operational by 2010. As per the management, the company is likely to use these funds in overseas mining projects and long term investment plans. However, any details on the nature of the projects have not been disclosed. Tata Steel's consolidated debt currently stands at around US$ 9.8 bn while the cash and cash equivalents are around US$ 2.1.

Software stocks are trading mixed currently. While TCS and Mindtree are trading lower, Wipro and Tech Mahindra are trading higher. Mindtree announced its 1QFY10 results late last evening. The company's topline has declined by 10% QoQ mainly on account of decrease in volumes due to reduced IT spending from existing clients, particularly in the manufacturing and R&D segments. Sales were also impacted on account of pressure on billing rates, as the same declined by 0.5% QoQ. Operating margins slumped by 9% QoQ to 16.6%, led by lower utilisation and increase in software development costs. Subsequently, the company's net profits declined by 17% QoQ.

The Indian markets remained weak during the previous two hours of trade on the back of sustained selling activity among the index heavyweights. Currently, selling activity is being led by stocks from the IT, power and realty sectors, while select metal and engineering stocks are trading firm. The overall market breadth is flat, with the total number of gainers almost equal to the losers on the BSE.

The BSE-Sensex and NSE-Nifty are trading weak, down by around 150 points and 40 points respectively. However, the BSE-Midcap and the BSE-Smallcap indices are trading higher, up by around 0.2% and 0.3% respectively. The Rupee is trading at 48.26 to the Dollar.

As per a leading business daily, Punj Lloyd plans to raise around US$ 125 to US$ 150 m by issuing fresh shares to the qualified institutional buyers. The company has already confirmed its plans to raise funds but has not yet divulged the amount of funds and instrument to be used. It may be noted that Punj Lloyd is in need of funds to retire its high cost debt and infuse liquidity to fund its projects. In fact, the company's cost of debt stood at around 13.5% during FY09. It also has huge debt with a debt to equity ratio of 1.4:1 at the end of FY09. Further, the company requires funds to service its huge order backlog of around Rs 300 bn (2.5 times its FY09 net sales). At the current market price of Punj Lloyd, the fresh capital is expected to dilute 10% of its existing equity capital. Currently, the stock is trading weak on the bourses.

Software stocks are trading weak led by TCS and Infosys. As per a leading business daily, Infosys has bagged a pilot project to roll out an integrated coach management system (ICMS) for the Indian Railways. The pilot project involves setting up ICMS at three different locations at a cost of Rs 40 m. It is believed that Infosys has emerged as the lowest bidder for this pilot project, which was attended by global companies like Siemens and IFS, besides the Indian majors. Even though the initial project cost is small, the success of this project will decide on the time frame whereby the railway authority will decide to float the final tender for the project, which is estimated at around Rs 2.1 bn. The success of this project would help Infosys oversee final tender projects, which would boost its domestic revenues.

After witnessing a strong rally in the past few days, the Indian bourses have opened the day's trade on a negative note as selling is being witnessed at higher levels. While pharma stocks are trading firm, auto, banking, software and engineering stocks are at the receiving end. The overall decline to advance ratio stood at 1.3: 1 on the NSE. As regards global markets, the US and the European markets ended higher yesterday. The Asian markets are trading mixed currently.

The BSE Sensex is trading lower by around 100 points. The NSE Nifty is down 26 points. The BSE Midcap and the BSE Smallcap indices are trading flat. The rupee is trading at 48.12 to the dollar.

IDFC announced its 1QFY10 results yesterday. The company witnessed a standalone sales growth of 8% YoY, while the consolidated income from operations grew by 14% YoY in 1QFY10. The main reason for the spurt in growth was an increase in revenues from the investment and asset management businesses. The consolidated non-interest income witnessed a 21% YoY growth after lower investment banking and loan related fees in FY09. The cost to income ratio increased from 20% in 1QFY09 to 22% in 1QFY10. Standalone bottomline grew by 19% YoY, while consolidated bottomline grew by 26% YoY in 1QFY10 due to improved other income and lower provisioning. IDFC being a play on the infrastructure story, the management expects the growth to be robust on account of strong government focus. It expects a growth in advances mainly to the road sector during the current year. Finance stocks are trading mixed currently.

Power stocks are trading lower. As per a leading business daily, India will fail to meet its power generation growth goal set for the current year. India is likely to add only 70% of an estimated target of 14.5 GW (1 GW is equal to 1,000 MW) power capacity generation additions during FY10. Even during last year, only 46% of the targeted 7.5 GW was added. Further, the peak power deficit is expected to widen this fiscal to 12.6%. The main reasons cited are slow implementation and coal shortage. While there has been an increase in coal production, it is not to the extent required to meet the demand. Coal fuels at least half of India's installed power generation capacity. Earlier, the ministry had estimated India's coal shortfall to touch 70 MT during FY10. Further, delays from equipment suppliers and other contractors, and delays in acquisition of land and clearance of sites for beginning construction of projects have also played spoilsport. As per estimates, India has to generate an incremental 10,000 MW capacity per year for the next 10 years to plug the demand supply gap. The government has outlined a plan, which envisages an addition of 78,000 MW of generation capacity over the next 5 years. However, with the challenges faced, the target would be difficult to meet.

BSE / NSE Market voices 21 July 2009

Market Voices 21 July 2009

Save for a few minutes at the start, the Sensex was down in the red today as participants chose to book profits after recent gains. There were a few good report cards from India Inc and global cues were reasonably positive, but investors chose a cautious route and refrained from indulging in any big buying today.

The Sensex ended at 15,046.46 (provisional) with a sharp loss of 144.55 points or 0.95%. In intra-day trades, it slipped below the 15k mark to 14,956. The Nifty closed at 4461.80, down 40.45 points or 0.9%.

IT, power, PSU, realty and bank stocks declined sharply. Oil, FMCG and capital goods stocks too exhibited weakness.
Select pharma, metal and auto stocks edged higher. Midcap and smallcap stocks outperformed today.

Tata Steel, Maruti, Sun Pharma, L&T, Grasim and HDFC ended higher. TCS, M&M, ACC, Tata Power, ITC, BHEL, NTPC, ICICI Bank, Bharti Airtel, DLF, Infosys, ONGC and RComm closed on a weak note. RIL, SBI and HDFC Bank also ended weak. Jindal Steel closed sharply higher. Suzlon and GAIL India ended with sharp losses. The market breadth was marginally negative at close.

The market is likely to see a few corrective spells before staging another series of rallies. One with a low appetite for risk would do well to stay extremely stock specific and choose only those with a proven track record.

Investors looking at short to medium term can stay invested in fertilizers stocks Chambal Fertilizers, Nagarjuna Chemicals & Fertilizers and GSFC. RCF, Tata Chemicals and Coromandel Fertilizers can be picked up at sharp declines.

ISMT touched an intraday high of Rs 30.40 and an intraday low of Rs 27.70. At 2:40 pm, the share was quoting at Rs 30, up Rs 1.75, or 6.19%.

Voltas touched an intraday high of Rs 140 and an intraday low of Rs 131. At 2:36 pm, the share was quoting at Rs 139.35, up Rs 7.45, or 5.65%. It was trading with volumes of 1,500,089 shares, compared to its five-day average of 683,245 shares, an increase of 119.55%. Yesterday the share closed up 1.42% or Rs 1.85 at Rs 131.90.

Ultratech Cement (Rs 778) is a good one for medium to long term. Though the stock can give fairly decent returns even over a short run, some weak spells are likely as the demand for cement has not picked up any significantly as yet. Sharp dips can be used to increase exposure to the stock.

Petron Engineering Construction Ltd has received an order from Jaiprakash Associates Ltd for Mechanical Fabrication and Erection for Jaypee Balaji Cement Project, Near Village Budhwada, Dist. Krishna, Andhra Pradesh for a total Contract Value of Rs 48.10 crores. The thinly traded stock is up nearly 8% at Rs 119 now.

Glenmark Pharma touched an intraday high of Rs 263.65 and an intraday low of Rs 241. At 1:36 pm, the share was quoting at Rs 261.75, up Rs 15.30, or 6.21%.

Hold Gujarat NRE Coke, says Hemen Kapadia of Chartpundit on CNBC-TV18

Yes Bank has come out with strong results. The bank has posted a net profit of Rs 1000.70 million for the quarter ended June 30, 2009 as compared to Rs 543.30 million for the quarter ended June 30, 2008. Total income has increased from Rs 4861.90 million for the quarter ended June 30, 2008 to Rs 6878.50 million for the quarter ended June 30, 2009. The stock is up by over 4% at Rs 160. A further sharp upmove looks likely in the short run. One can stay invested in the stock

Hold Reliance Industries (Rs 2027) if you are looking at long term. Over a short run, a few spells are in the offing. However, sharp falls can be used to add small quantities to the portfolio. Intra-day traders with a reasonably good appetite for risk can buy this stock now with a stop loss near Rs 2010. A rise to Rs 2040 - 2050 is possible.

India Infoline touched an intraday high of Rs 135.75 and an intraday low of Rs 126.60. At 1:30 pm, the share was quoting at Rs 128.50, down Rs 6.1, or 4.53%. It was trading with volumes of 728,407 shares. Yesterday the share closed up 1.78% or Rs 2.35 at Rs 134.60.

Glenmark Pharma touched an intraday high of Rs 263.65 and an intraday low of Rs 241. At 1:36 pm, the share was quoting at Rs 261.75, up Rs 15.30, or 6.21%. It was trading with volumes of 1,308,095 shares, compared to its five-day average of 328,342 shares, an increase of 298.39%. Yesterday the share closed up 6.23% or Rs 14.45 at Rs 246.45.

Shree Renuka Sugars Limited has posted a net profit of Rs 611 million for the quarter ended June 30, 2009 as compared to Rs 230 million for the quarter ended June 30, 2008. Despite the sharp jump in net profit, the sugar stock is down in the negative territory at Rs 144, down by over 2%. One holding the stock with a long term plan can stay invested for now.

Oil and gas space will continue to outperform, says Gautam Shah, Technical Analyst at JM Financials on CNBC-TV18

Oriental Bank of Commerce has posted a net profit of Rs 257.41 crore for the quarter ended June 30, 2009 as compared to Rs 220.52 crore for the quarter ended June 30, 2008. Total Income has increased from Rs 2159.21 crore for the quarter ended June 30, 2008 to Rs 2796.10 crore for the quarter ended June 30, 2009.

The stock is up by 1.5% at Rs 191. One holding it can stay invested and buy more of it at dips.

Ranbaxy Laboratories has announced that it has received final approval from Health Canada Therapeutic Products Directorate to manufacture and market RAN-Simvastatin tablets in Canada. The total generia market size of Simvastatin tablets in Canada is about CAD$153 million.

Every dip in Gujarat NRE Coke is a buying opportunity: Sudarshan Sukhani, Technical Analyst, on CNBC-TV18

LIC Housing Finance (down 1.3% at Rs 637) has declined sharply ahead of announcement of results.

The stock had surged to Rs 656 earlier this morning. The stock has a near term resistance at Rs 680 - 685 levels. A strong breakout there could result in a surge to Rs 725 or even higher.

One can consider fresh buying in LIC Housing Finance at sharp declines.

Buy Axis Bank, Bank of Baroda on every dip, says Sudarshan Sukhani, Technical Analyst, on CNBC-TV18

MindTree is down sharply following the company revising its earnings for fiscal 2009-10 revenue downwards.

The stock is down by over 9% at 502 now.

One looking at fresh exposure can wait for now.

ICICI Bank is looking expensive at about 1.7 times price to book, says Sanjeev Prasad, Executive Director & Co Head, Kotak Instl Equities, on CNBC-TV18

State Bank of India (Rs 1702) can be tried for intra-day if the stock rises to Rs 1710 and trades firm for a while. The stock could rise to Rs 1725 -1730 if it makes a strong breakout at Rs 1710. A stop loss can be placed at Rs 1690 levels.

Buy IndusInd Bank on dips, says Sudarshan Sukhani, Technical Analyst, on CNBC-TV18

Don't buy IT stocks for trading currently at current levels, says Sudarshan Sukhani, Technical Analyst, on CNBC-TV18

Thermax Limited has posted a net profit of Rs 464.901 million for the quarter ended June 30, 2009 as compared to Rs 637.091 million for the quarter ended June 30, 2008. The company's total income has decreased from Rs 7271.543 million for the quarter ended June 30, 2008 to Rs 5478.852 million for the quarter ended June 30, 2009. The stock is up with a modest gain at Rs 458 now. Since a fall from current levels is likely in the near run, fresh buying can be avoided for now.

Invest in Tata Steel, says Sanjeev Prasad, Executive Director & Co Head, Kotak Instl Equities on CNBC-TV18. "If I look at it on 2011 basis the stock looks okay, not too expensive," he added.

The Nifty (4496) has recovered well after a sharp setback.

The index will now take some good support at 4470 levels. A breach could result in a fall to 4450.

On the positive side, a rise past 4615 is likely to result in a surge to 4635 - 4645.

Gujarat NRE Coke (down 2.9% at Rs 51.80) has declined on profit taking after recent sharp upmove. the company has posted pretty strong numbers for the April - June 2009 quarter. One holding the stock with a long term plan can stay invested and look at buying more at sharp falls. gujarat NRE Coke touched an intraday high of Rs 53.15 and an intraday low of Rs 50. At 10:28 am, the share was quoting at Rs 50.90, down Rs 2.45, or 4.59%
It was trading with volumes of 1,210,415 shares. Yesterday the share closed up 17% or Rs 7.75 at Rs 53.35.

MindTree touched an intraday high of Rs 622 and an intraday low of Rs 520. At 10:26 am, the share was quoting at Rs 520.10, down Rs 33.55, or 6.06%. It was trading with volumes of 264,001 shares. Yesterday the share closed up 13.53% or Rs 66 at Rs 553.65.

Punj Lloyd is reportedly planning to raise US$125-150 million by placing fresh equity with institutional buyers to retire part of its high-cost debt and infuse liquidity. The stock is currently down by 1.5% at Rs 219. One looking at long term can go in for the stock at sharp declines. The stock is a very good buy at Rs 160 - 175 levels.

TCS may move 5% higher, says Sanjeev Prasad, Executive Director & Co Head, Kotak Instl Equities, on CNBC-TV18

Essar Oil has posted a net profit of Rs 1690 million for the quarter ended June 30, 2009 where as the same was at Rs 300 million for the quarter ended June 30, 2008. Total Income is Rs 66060 million for the quarter ended June 30, 2009 where as the same was at Rs 87640 million for the quarter ended June 30, 2008. However, the figures are not strictly comparable as commercial production of the refinery started with effect from May 01, 2008. The stock is up by around 2.75% at Rs 144 at present.

Amtek Auto touched an intraday high of Rs 111 and an intraday low of Rs 100. At 10:15 am, the share was quoting at Rs 105, down Rs 3.35, or 3.09%. There was a block deal of 50 lakh Amtek Auto shares at Rs 100 per share, reports CNBC-TV18. It was trading with volumes of 5,034,357 shares. Yesterday the share closed up 9.78% or Rs 9.65 at Rs 108.35.

Sterlite Technologies touched a 52-week high of Rs 214.05. At 09:58 am, the share was quoting at Rs 214.05, up Rs 10.20, or 5% on the NSE. There were pending buy orders of 78,737 shares, with no sellers available. It was trading with volumes of 8,711 shares. Yesterday the share closed up 5.02% or Rs 9.75 at Rs 203.85.

Stocks to watch

MindTree Ltd, after the IT firm's quarterly profit rose 466 percent helped by mark to market gains, but cut its FY10 outlook on an uncertain market environment.

Era Infra Engineering, after the construction firm's quarterly net profit surged to 964.08 million rupees.

Oriental Bank of Commerce, Yes Bank Ltd, Chambal Fertilisers and Chemicals Ltd, ING Vysya Bank Ltd, LIC Housing Finance Ltd, Shree Renuka Sugars Ltd, Tamil Nadu Newsprint and Papers Ltd and Thermax Ltd are among firms reporting quarterly results on Tuesday.

Brokerage Recommendations 21 July 2009

Brokerage Recommendations 21 July 2009

Buy Sesa Goa around Rs 210 with a short-term target of Rs 235, medium-term target of Rs 250 and stop loss of Rs 200, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 232, down 1.65% on the BSE.

Buy Tata Steel with a target of Rs 420 and stop loss of Rs 393, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 411, up 5.28% on the BSE. The company successfully closed a GDR issue of $500 million today, reports CNBC Tv18.

Hold Gujarat NRE Coke with short-term target of Rs 61, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 46, he adds. The stock is currently trading at Rs 50, down 5.06% on the BSE.

Buy Tech Mahindra around Rs 770 with a short-term target of Rs 850, medium-term target of Rs 950 and stop loss of Rs 710, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 811, up 1.07% on the BSE.

Buy Voltas with a target of 150 and stop loss of 138, says Nitin Murarka of SMC Global on Zee Business, as closing market strategy.

Buy Tata Steel with a target of 425 and stop loss of 400, says an expert from Trade Swift Broking, on CNBC Awaaz, as closing market strategy.

Buy PFC around Rs 210 with a short-term target of Rs 230, medium-term target of Rs 240 and stop loss of Rs 200, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 224, up 1.7% on the BSE.

In an F&O call, sell Nifty July futures with a target of 4360 and stop loss of 4530, says Manoj Sachdeva, technical analyst, on CNBC Awaaz.

In an F&O call, buy Nifty July futures with a target of 4550 and stop loss of 4430, says Nishant Jain, technical analyst, on CNBC Awaaz.

In an F&O call, sell Nifty July futures with a target of 4400 and stop loss of 4550, says Ashwani Gujral, technical analyst, on CNBC Awaaz.

In an F&O call, sell Nifty July futures with a target of 4400 and stop loss of 4520, says Neera Jain of crnindian.com, on CNBC Awaaz. The market is likely to cool off and correct in the short term, she says.

Hold Sterlite Industries with target of Rs 720-730, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 570, he adds. It has resistance at Rs 635, he says. The stock is currently trading at Rs 594, down 2.61% on the BSE.

Buy BEL with a target of Rs 1600 and stop loss of Rs 1400, says Neera Jain of crnindian.com, on CNBC Awaaz. The stock is currently trading at Rs 1526, up 0.61% on the BSE.

Hold RIL with a target of Rs 2130 and stop loss of Rs 1950, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. The stock is currently trading at Rs 2032, up 0.08% on the BSE. » Send to friends

buy Rolta with a target of Rs 165-160, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 138, up 0.77% on the BSE.

Buy Indiabulls Real Estate with a target of Rs 250-280, says Mitesh Thakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 224, down 1.95% on the BSE.

Buy Patni Computers with a target of Rs 335-340, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 284, down 2.8% on the BSE.

Sell DLF with a target of Rs 345 and stop loss of Rs 355, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 343, down 2.04% on the BSE.

Buy Unitech with a target of Rs 92 and stop loss of Rs 74, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. The stock is currently trading at Rs 82, up 0.12% on the BSE.

Buy Wipro with a target of Rs 540, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 463, up 0.82% on the BSE.

Hold Core Projects with a stop loss of Rs 96, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 110, down 5.8% on the BSE.

Hold Micro Tech with stop loss of Rs 107, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has resistance at Rs 135, he adds. The stock is currently trading at Rs 119, down 0.50% on the BSE.

Hold IFCI with a target of Rs 53-58 where one can exit, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 50, up 0.9% on the BSE.

Buy Mphasis with a target of Rs 460, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 416, up 0.71% on the BSE.

Hold GVK Power with target of Rs 50, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It has support at Rs 36, he adds. The stock is currently trading at Rs 43.25, down 0.9% on the BSE.

Hold Financial Technologies with short-term target of Rs 1640 and long-term target of Rs 2000-2200, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 1370, he adds. It has resistance at Rs 1520, he says. The stock is currently trading at Rs 1420.05, up 2.3% on the BSE.

Buy YES Bank for short-to-medium target of Rs 180-185, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 120, he adds. The stock is currently trading at Rs 158.75, up 3.4% on the BSE.

Hold Dr Reddy's with target of Rs 850-875, says Prasad Kushe, technical analyst, on NDTV Profit. Keep trailing stop loss of Rs 690, he adds. Buy again on dips at Rs 650-700 a month later, he says. The stock is currently trading at Rs 791.75, up 0.1% on the BSE.

Hold Satyam with target of Rs 150, says MB Singh, technical analyst, on Zee Business. It is in a positive uptrend now and has resistance at Rs 114, he adds. The stock is currently trading at Rs 94.30, down 2.9% on the BSE.

Hold Kingfisher Airlines with target of Rs 89, says Prasad Kushe, technical analyst, on NDTV Profit. Keep stop loss of Rs 34, he adds. The stock is currently trading at Rs 48.90, down 4% on the BSE. » Send to friends


Buy Wipro on dips with target of Rs 525-550 in six months, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 440, he adds. The stock is currently trading at Rs 463.25, up 0.5% on the BSE.

At noon the market is trading near the day's low. Sensex is trading at 15035, down 156 points from its previous close, and Nifty is at 4462, down 39 points. CNX Midcap index is down 0.1% and BSE Smallcap index is up 0.2%. The market breadth is negative with advances at 565 against declines of 622 on the NSE.

Buy IndusInd Bank on dips with target of Rs 115, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 92.80, down 2.1% on the BSE.

Buy IndusInd Bank at current levels with target of Rs 120-130, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 89, he adds. The stock is currently trading at Rs 92.60, down 2.3% on the BSE.

Buy Axis Bank at around Rs 780-810 with target of Rs 1100-1150, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 890.40, up 0.5% on the BSE.

Buy ICICI Bank at Rs 700 with long-term targets of Rs 810 and then 950, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 670, he adds. The stock is currently trading at Rs 776.50, down 1.4% on the BSE.

Hold GMR Infra with target of Rs 163, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 117, he adds. It has resistance at Rs 148, he says. The stock is currently trading at Rs 138.50, down 1.6% on the BSE.

Buy Unitech at Rs 85 with target of Rs 120, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 81.20, down 1.3% on the BSE.

Hold Gujarat NRE Coke and exit at Rs 62, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It is looking weak on the charts, he adds. The stock is currently trading at Rs 51.75, down 3% on the BSE.

Hold Welspun Gujarat with target of Rs 350 in one year, says MB Singh, technical analyst, on Zee Business. Keep stop loss below Rs 170 in the short term, he adds. It has resistance at Rs 217, he says. The stock is currently trading at Rs 195, down 1.1% on the BSE.

Buy Sesa Goa with target of Rs 275-280, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It is looking good on the charts, he adds. The stock is currently trading at Rs 234.50, down 0.9% on the BSE.

Buy Pantaloon Retail with intra-day target of Rs 288, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 276, he adds. The stock is currently trading at Rs 278, down 0.2% on the BSE.

Buy BEL July Futures with target of Rs 1600, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 1390, he adds. The stock is currently trading at Rs 1520, up 0.2% on the BSE. » Send to friends


Buy Jindal Steel and Power July Futures with target of Rs 3100, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 2600, he adds. The stock is currently trading at Rs 2746, up 3% on the BSE.

Buy Alstom Projects with target of Rs 530, says Hemen Kapadia, technical analyst, on CNBC TV18. Keep stop loss of Rs 512, he adds. The stock is currently trading at Rs 524, up 1.6% on the BSE. » Send to friends


Buy Voltas July Futures with target of Rs 155, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 125, he adds. The stock is currently trading at Rs 134, up 1.6% on the BSE.

Sell Tata Steel with intra-day target of Rs 375, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 396, he adds. The stock is currently trading at Rs 381.40, down 2.5% on the BSE.

Sell Suzlon Energy with intra-day target of Rs 89, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 96, he adds. The stock is currently trading at Rs 92.05, down 2.3% on the BSE.

Buy Aban Offshore at Rs 927 with intra-day target of Rs 975, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 900, she adds. The stock is at Rs 928.50, up 8.4% on the BSE.

Sell REI Agro with intra-day target of Rs 62, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 68.50, he adds. The stock is at Rs 67.25, up 4.9% on the BSE.

Buy Satyam at Rs 97 with intra-day target of Rs 101, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 95.50, she adds. The stock is at Rs 97.15, up 9% on the BSE.

Buy Cairn India at Rs 246 with intra-day target of Rs 252, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 242, she adds. The stock is at Rs 246.30, up 6.1% on the BSE.

Indian Share / Stock Markets BSE NSE Report 20 July 2009

Market Report 20 July 2009

The key benchmark indices clocked strong gains, extending last week's sharp climb, as encouraging Q1 June 2009 results from India Inc and firm global stocks boosted sentiment. The BSE 30-share Sensex rose 446.09 points or 3.03%. The barometer indices struck its highest closing in more than a month. The Sensex crossed the psychological 15,000 mark for the first time in two weeks. World stocks rose on news CIT Group Inc had clinched a last-minute $3 billion rescue by a group of bondholders and probably escaped bankruptcy. CIT lends to nearly one million small and mid-sized US businesses.

Index heavyweight Reliance Industries rallied after the Supreme Court asked the energy giant and former group firm Reliance Natural Resources (RNRL) why a gas pact between the two should not be cancelled.

Banking, realty, and capital goods stocks jumped. TCS vaulted more than 15% and was the major gainer from the Sensex pack on stronger-than-expected Q1 June 2009 results. Other IT majors surged. The market breadth, indicating the overall health of the market, was strong. Except, BSE FMCG index, all the other sectoral indices on BSE, rose.

A bout of intraday volatility was witnessed. The market pared gains after an early surge triggered by firm global stocks. The Sensex hit the psychological 15,000 mark in early trade but fell below the mark shortly. The last time the Sensex had hit 15,000 was on the day of announcement of the Union Budget 2009-2010 on 6 July 2009. The market surged in early afternoon trade with the Sensex regaining the 15,000 mark. The market extended gains in afternoon trade. After hitting a fresh intraday high, the market pared gains in mid-afternoon trade. It spurted in late trade.

Lower costs have helped India Inc report Q1 June 2009 results. The combined net profit of 191 companies rose 41.6% Rs 10,730 crore on 14.9% growth in sales to Rs 72,710 crore in Q1 June 2009 over Q1 June 2008.

But possibility of deficient rains this year raises a risk of low agricultural output and hence high food inflation. The cumulative seasonal rainfall from 1 June 2009 to 15 July was 27% below normal levels. It has adversely affected the kharif sowing. The worst hit crops are rice, oilseeds especially groundnut and soyabean and sugarcane. Spatial distribution and actual rain during July and August are vital to determine its consequences on overall economy.

European shares were higher on Monday, rising for the sixth straight day, with banks the major gainers. The key benchmark indices in France, Germany and UK were up by between 1.3% to 1.53%.

Asian stocks advanced, led by commodity and technology shares, after oil and metal prices gained and US housing starts unexpectedly rose. Key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan were up by between 1.02% to 3.7%.

Trading in the US index futures indicated Dow could rise 66 points at the opening bell today, 20 July 2009.

After a strong week, US markets ended Friday's (17 July 2009) trade flat. The Dow added 32.12 points, or 0.4%, to 8,743.94. The S&P 500 index slipped 0.36 points, or less than 0.1%, to 940.38, while the Nasdaq composite index rose 1.58 points, or 0.1%, to 1,886.61. For the week the Dow and S&P were up over 7%. Nasdaq gained almost 8%.

On the earnings front, Bank of America, the largest US bank, said second-quarter net income fell 25% to $2.42 billion and warned results would continue to be hurt by troubled loans from credit card, mortgage and business customers due to the weak economy. Citigroup reported a $4.3 billion quarterly profit, thanks to the merger of its brokerage arm into a new venture after struggling to survive the financial crisis.

General Electric reported a second-quarter profit of 26 cents a share, topping consensus estimates of 23 cents a share. Revenues came in lower by 17%, at 39 billion dollars was slightly below the 42 billion dollars that analysts had predicted.

The BSE 30-share Sensex rose 446.09 points or 3.03% at 15,191.01, its highest closing since 12 June 2009. At the day's high of 15,209.36, the Sensex rose 464.44 points in late trade. At the day's low of 14,854.17, the Sensex rose 109.25 points in early trade.

The S&P CNX Nifty was up 127.30 points or 2.91% to 4,502.25, its highest closing since 16 June 2009. Nifty July 2009 futures were at 4505.60, at a premium of 3.35 points as compared to the spot closing of 4502.25. Turnover in NSE's futures & options (F&O) segment was Rs 70,008.60 crore, much lower than Rs 74,254.90 crore on Friday, 17 July 2009.

The market breadth, indicating the overall health of the market, was strong. On BSE, 1,832 shares rose as compared with 829 that fell. A total of 72 shares remained unchanged. From the 30 shares Sensex pack, 23 rose and rest fell.

From a recent low of 13,400.32 on 13 July 2009, the Sensex has risen 1,790.69 points or 13.36% in five trading sessions. The Sensex is up 6,253.70 points or 64.82% in calendar year 2009, as on 20 July 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex has risen 7,030.61 points or 86.15% as on 20 July 2009.

Coming back to today's trade, the BSE Mid-Cap index was up 2.54% and the BSE Small-Cap index was up 2.52%. But both these indices underperformed the Sensex.

The BSE IT index (up 7.26%), the BSE Realty index (up 4.91%), the BSE TECk index (up 4.78%), the BSE Bankex (up 4.37%), the BSE Oil & Gas index (up 3.66%), outperformed the Sensex.

The BSE FMCG index (down 0.49%), the BSE Power index (up 0.89%), the BSE PSU index (up 0.95%), the BSE Consumer Durables index (up 1.64%), the BSE Auto index (up 1.68%), the BSE Healthcare index (up 1.82%), the BSE Capital Goods index (up 2.11%), the BSE Metal index (up 2.12%), underperformed the Sensex.

India's largest private sector firm by market capitalisation Reliance Industries (RIL) rose 5.03% to Rs 2,030.65 after Supreme Court (SC) scheduled next hearing on the dispute over the gas supply to Reliance Natural Resources (RNRL) to 1 September 2009. Media reports quoted Reliance Industries (RIL) lawyer as saying that the Supreme Court has asked parties to explain why gas pact should not be cancelled. The SC has cleared the way for the government to be a party in the court battle, the RIL lawyer was quoted as saying .

Reports also quoted RNRL lawyer as saying that the Supreme court will club all petitions and applications in gas case together. RNRL has asked the Supreme Court to dismiss the government's affidavit on the dispute, even as the petroleum ministry has suggested that the court treats the pact between the two brothers null and void. The dispute concerns supply of natural gas from RIL's field, off the Andhra Pradesh coast, as also the price at which Reliance Natural Gas will get the fuel for power projects within the group.

In reply to the lawsuit filed by Reliance Industries challenging the Bombay High Court order, RNRL has said the government has no role to play in the private gas sharing dispute, and certainly not as a party to the row. The government, however, has said that the country's interest must be taken into consideration first and that cannot be held to ransom by a dispute between two industrialists or a previous, private pact between them.

Shares of oil exploration firms rose as oil rose surged past $64 a barrel mark on Monday, extending last session's 2.5% gains, bolstered by a rally in Asian stocks and fall in the dollar on hopes of a global economic recovery. India's largest state-run oil exploration firm by revenue ONGC rose 1.83%. Cairn India rose 6.05%. US crude oil for August delivery rose 1.59% to $64.57 a barrel after settling up $1.54 at $63.56 on Friday. The rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms.

But PSU OMCs fell on rise in crude oil prices. BPCL and Indian Oil Corporation, fell by between 0.08% to 1.51%. HPCL was flat. Higher oil prices will results in increase underrecoveries at the state-run oil firms on domestic sale of petrol, diesel, LPG and kerosene at a controlled price.

Realty stocks rose on the government's thrust on the housing sector in the Budget. Unitech, Housing Development & Infrastructure, Indiabulls Real Estate, DLF, Omaxe, Ackruti City rose by between 1.06% to 7.8%.

IT stocks jumped on better-than-expected Q1 June 2009 result by India's largest IT exporter by sales TCS after trading hours on Friday. TCS jumped 15.34%. The company's net profit rose 15.27% to Rs 1276.44 crore on 0.12% fall in sales to Rs 5609.60 crore in Q1 June 2009 over Q4 March 2009.

India's third largest IT exporter by sales Wipro rose 7.14%. Its American depository receipt (ADR) rose 3.08% on Friday, 17 July 2009.

India's largest IT firm by sales Infosys rose 5.66%. The company had raised the lower end of its annual forecast in dollar terms at the time of announcing Q1 June 2009 results on 10 July 2009. Its ADR rose 2.95% on Friday, 17 July 2009.

Bank stocks rose after the Finance Minster said last week that the government is committed to financial sector reforms. The minister's articulation of commitment to financial sector reforms suggests that greater foreign direct investment in insurance and pension reforms, issue that had been put in cold storage because of Left opposition during the UPA's last term, would now be expedited.

India's largest private sector bank by net profit ICICI Bank rose 6.01% after its American depository receipt (ADR) rose 3.78% on Friday, 17 July 2009.

India's biggest bank in terms of branch network State Bank of India (SBI) rose 2.78% despite reports the Reserve Bank of India has asked it to set aside more money for bad loans, noting that provisions made by the bank are far short of the industry average.

India's second largest private sector bank in terms of operating income HDFC Bank rose 2.44%. HDFC Bank's net profit rose 30.52% to Rs 606.11 crore on 21.86% rise in total income to Rs 5136.75 crore in Q1 June 2009 over Q1 June 2008. Other income jumped 75.9% to Rs 1043.70 crore in Q1 June 2009 over Q1 June 2008, due to spurt in fees and commissions. The bank announced the result on Tuesday, 14 July 2009. Its ADR rose 1.12% on Friday.

PSU banks, Union Bank of India, Bank of Baroda, Indian Overseas Bank, Bank of India, Punjab National Bank, rose by between 4.64% to 6.48%.

Axis Bank rose 4.06% extending recent sharp gains after net profit rose 70.24% to Rs 562.04 crore on 33.64% rise in total income to Rs 3864.13 crore in Q1 June 2009 over Q1 June 2008. The bank announced the result during market hours on Monday 13 July 2009.

India's largest engineering and construction firm by sales Larsen & Toubro (L&T) rose 2.69% extending Friday's (17 July 2009) 3.03% jump after the company stood by its stated outlook of 25% growth in order inflows for the current year even as the first quarter ended with a negative note. At the time of announcing Q1 June 2009 results, L&T had during trading hours on Thursday, 16 July 2009 said its order inflow was down 22 % in Q1 June 2009 over Q1 June 2008. The company's order backlog at the end of the June quarter was Rs 71, 650 crore ($14.7 billion). The stock fell 3.65% on Thursday after result.

Other capital goods stocks, Punj Lloyd, Praj Industries, BEML, ABB, Siemens, Bharat Heavy Electricals, Thermax, rose by between 0.13% to 4.53%.

FMCG majors fell on slow progress of India's annual monsoon. FMCG firms derive substantial revenue from the rural sector. ITC and Hindustan Unilever fell by between 0.19% to 1.98%.

Some drug makers rose after the Finance Minister Pranab Mukherjee reduced customs duty on life saving drugs in the Budget. Ranbaxy Laboratories, Pfizer, Cipla, Dr Reddy's Laboratories, Wockhardt Lupin, rose by between 0.84% to 2.76%.

Finance minister on 6 July 2009, reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc. The government has also reduced basic customs duty for two bulk drugs used in manufacturing these medicines from 10% to 5%. Bulk drugs are processed raw materials used in manufacturing the final doses of medicines.

Some power stocks rose on bargain hunting after a recent fall triggered by disappointment from the Budget. There was lack of any major sops in the Budget for the power sector. Tata Power Company, NTPC, Power Grid Corporation of India, fell by between 0.22% to 1.29%.

Some cement stocks rose after a thrust on infrastructure development in the Union Budget 2009-2010. Grasim Industries, ACC, Ultratech Cements, rose by between 1.01% to 3.41%.

Construction stocks, too, were in demand. Era Infra Engineering, Hindustan Construction Company, IVRCL Infrstructure &Projects and Nagarjuna Construction Company rose by between 3.03% to 4.65%.

Finance Minister Pranab Mukherjee on 6 July 2009, provided a thrust on various infrastructure projects in the Budget which may result in increase in orders for construction firms and help boost cement demand. The government announced more spending for urban, water and road projects. The allocation to National Highway development program allocation was increased 23% to Rs 15948 crore.

Two-wheeler makers rose, extending last week's gains, boosted by good Q1 June 2009 results from Bajaj Auto during market hours on Thursday, 16 July 2009. Bajaj Auto gained 2.42% extending a recent sharp surge. Bajaj Auto's net profit jumped 67.60% to Rs 293.49 crore in Q1 June 2009 over Q1 June 2008.

India's largest motor bike maker by sales Hero Honda Motors rose 0.85%.

India's largest small car maker by sales Maruti Suzuki India rose 1.97% and India's largest tractor maker by sales Mahindra & Mahindra rose 2.34%. India's largest commercial vehicle maker by sales Tata Motor rose 3.78%.

Metal stocks rose as LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.22% on Friday, 17 July 2009. JSW Steel, Jindal Steel, Hindalco Industries, Steel Authority of India, National Aluminum Company, Hindustan Zinc rose by between 0.45% to 8.13%.

India's largest copper maker by sales Sterlite Industries rose 3.8% on bargain hunting after a recent sharp fall triggered by equity dilution concerns after the company raised $1.5 billion from an issue of American Depositary Receipts in which parent Vedanta has subscribed $500 million.

Some shipping firms rose as Baltic Dry Index, which measures the cost of shipping commodities, rose 1.2% in London on Friday, 17 July 2009. Shipping Corporation of India, Mercator Lines and Essar Shipping rose by between 0.75% to 2.64%.

Sugar stocks rose on firm global sugar prices. Dhampur Sugar, Bajaj Hindustan, Balrampur Chini and Shree Renuka Sugars rose by between 0.51% to 3.35%.

Mahindra Satyam clocked the highest volume of 3.39 crore shares on BSE. Reliance Natural Resources (2.39 crore shares), Cals Refineries (2.23 crore shares), IFCI (1.84 crore shares) and Unitech (1.77 crore shares) were the other volume toppers in that order.

Mahindra Satyam clocked the highest turnover of Rs 329.97 crore on BSE. Reliance Industries (Rs 270.03 crore), Tata Consultancy Services (Rs 196.78 crore), ICICI Bank (Rs 196.33 crore) and Reliance Natural Resources (Rs 193.27 crore) were the other turnover toppers in that order.

BSE / NSE Market voices 20 July 2009

Market Voices 20 July 2009

Aided by strong global markets and some splendid results from India Inc, equities closed on a buoyant note on the major Indian bourses today. Calling the shots right from the stroke of the opening bell this morning, the bulls guided the Sensex to its best close since 12 June 2009.

The Sensex ended the day at 15,166.91 (provisional) with a massive gain of 421.99 points or 2.86%. The Nifty closed at 4496.45, up 121.50 points or 2.78%. While the Sensex hit a high of 15,209.36, the Nifty moved on to 4510.30 today.

IT stocks, led by heavyweights TCS (15%), Wipro (7%) and Infosys (5.6%) had a bright session today. ICICI Bank, DLF, RIL, Hindalco, JP Associates, ACC, Tata Motors, Sterilte, SBI, L&T, Bharti Airtel, Grasim, HDFC Bank, Maruti and M&M also ended on a high note. Unitech, HCL Tech, Cairn India, PNB, Axis Bank, ABB, Siemens, Cipla and Ranbaxy finished with sharp gains.
ITC, RComm, HDFC and Reliance Infra closed weak today. BPCL, Ambuja Cements, Suzlon and RPower also ended weak.
Several midcap and smallcap stocks rallied higher. The market breadth was strong today.

Keep stop loss in IndusInd Bank at Rs 75, says Deepak Mohoni, Technical Analyst, on CNBC-TV18

TCS has target of Rs 525-540, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18

GTL Infrastructure has posted strong results for the quarter ended 30 June 2009. The company has posted a net profit of Rs 186.955 million for the quarter ended June 30, 2009 as compared to net loss of Rs 31.929 million it had recorded for the quarter ended June 30, 2008. Total income has increased from Rs 558.331 million for the quarter ended June 30, 2008 to Rs 855.039 million for the quarter ended June 30, 2009. The stock is up by over 4% at Rs 35.40. One can hold the stock with a stop loss near Rs 25.

Cairn India was among the major gainers on the Nifty. It touched an intraday high of Rs 244.90 and an intraday low of Rs 235. The share was quoting at Rs 244.30, up Rs 12.20, or 5.26%. it was trading with volumes of 2,282,356 shares. On Friday the share closed up 1.84% or Rs 4.20 at Rs 232.10.

Voltas, currently traded at Rs 130, can be picked up for short term. The stock can move on to Rs 145 -150 where one can book profits and exit the counter. The stock has an immediate support at Rs 120 levels. A strong breach could result in a fall to Rs 105 or to even lower levels.

DLF touched an intraday high of Rs 347.80 and an intraday low of Rs 333.10. At 1:56 pm, the share was quoting at Rs 343.80, up Rs 10.95, or 3.29%. it was trading with volumes of 2,754,059 shares. Yesterday the share closed up 5.02% or Rs 15.90 at Rs 332.85.

Indiabulls Financial Services touched an intraday high of Rs 187.25 and an intraday low of Rs 181. At 2:09 pm, the share was quoting at Rs 183, up Rs 2.10, or 1.16%. The company has launched upto $200 million QIP issue, quoting NewsWire18, reports CNBC-TV18. It was trading with volumes of 308,775 shares. On Friday the share closed up 0.47% or Rs 0.85 at Rs 180.90.

The mood on the European bourses is bullish as well. US index futures have surged higher, pointo to a positive start on Wall Street.

Strong results from top notch firms including TCS and expectations that government will push forward reforms keep the Indian markets high up in the bull orbit today.

There will be some more rallies in the very short run. However, it is advisable to stay stock specific for now.

Reliance Petroleum touched an intraday high of Rs 126.25 and an intraday low of Rs 122. At 1:41 pm, the share was quoting at Rs 125.80, up Rs 5.05, or 4.18%. it was trading with volumes of 975,152 shares. Yesterday the share closed up 0.29% or Rs 0.35 at Rs 120.75.

RComm (Rs 271) can rise to Rs 278 -280 this afternoon. Day traders with a reasonably good appetite for risk can try this stock now with a stop loss near Rs 265.

IDFC has posted a net profit of Rs 243.49 crore for the quarter ended June 30, 2009 as compared to Rs 204.73 crore for the quarter ended June 30, 2008. The stock is up with a modest gain at Rs 141 now. One holding the stock with a long term view can stay invested.

Consider buying cement stocks Ambuja Cements, India Cements and Ultratech Cement at sharp declines. Though stocks are likely to remain a bit sluggish for about a couple of weeks, a modest to sharp rise looks likely over the next 3 - 6 months.

Suzlon Energy (Rs 95) can give fairly good returns over a short run. One can exit the counter at Rs 120 -125 and take a call on buying the stock again at declines. On the downside, the stock has support near Rs 80 and a stop loss can be placed there.

JSW Steel has posted a net profit after tax of Rs 3400.20 million for the quarter ended June 30, 2009 as compared to Rs 2193.50 million for the quarter ended June 30, 2008. The stock is up 1.2% at Rs 607.50. Day traders with a good appetite for risk can buy the stock. It could rise to Rs 620 - 625. A stop loss can be placed near Rs 595.

Nagarjuna Construction Co. touched an intraday high of Rs 139.95 and an intraday low of Rs 133. At 12:10 pm, the share was quoting at Rs 138.20, up Rs 4.05, or 3.02%. The company has bagged orders worth Rs 776 crore, reports CNBC-TV18. It was trading with volumes of 257,547 shares. On Friday the share closed up 7.15% or Rs 8.95 at Rs 134.15.

Satyam Computer Services above Rs 90-92, says Mitesh Thacker of miteshthacker.com on CNBC-TV18

LIC Housing Finance (Rs 639) can move up further in the near term. The stock could face some resistance near Rs 685 but a strong breach there is likely to lift the stock up by another Rs 20 - 30. Those looking at long term can consider buying the stock at declines.

Indiabulls Real Estate can test Rs 280, says Mitesh Thacker of miteshthacker.com on CNBC-TV18

Zee Entertainment Enterprises touched an intraday high of Rs 199.70 and an intraday low of Rs 186.85. At 11:33 am, the share was quoting at Rs 187, down Rs 7.25, or 3.73%. It was trading with volumes of 263,879 shares. On Friday the share closed up 7.44% or Rs 13.45 at Rs 194.25.
IT majors TCS, Wipro and Infosys can move up further in the near to medium term. However, a few corrective spells are not ruled out. Short term traders can book some profits at rallies and get back into the counter at declines.

Technology stocks could move up, says Vibhav Kapoor of IL&FS Investmart, on CNBC-TV18

Aban Offshore can touch Rs 950, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18

Sell Pantaloon Retail below Rs 285: ICICIdirect.com

The Nifty (4441) will take some support around 4410 today. A breach of that level could result in a fall to 4375 or even lower. On the upmoe, a rise to 4475 - 4485 is possible if it makes a decisive breakout at 4450.

Coromandel Fertilisers touched an intraday high of Rs 191.50 and an intraday low of Rs 181.50. At 10:54 am, the share was quoting at Rs 191, up Rs 8, or 4.37%. It was trading with volumes of 11,616 shares. On Friday the share closed up 2.49% or Rs 4.45 at Rs 183.

Sell Divi's Laboratories below Rs 1065: ICICIdirect.com

Buy Hindalco above 81.70 for the targets of 84 / 86 / higher/ with a stop-loss of Rs 81

Nagarjuna Construction Company's order book has grown fatter with the company bagging three new orders aggregating Rs 776 crores. The orders are from the Employess State Insurance Coporation, New Delhi (Rs 600 crores), Mezgon Dock Limited (Rs 136 crores) and National Institute of Technology, Assam (Rs 40 crores). At Rs 136.50, the stock is up by around 1.75% over its previous closing price. One looking for fresh exposure to the stock can try the stock at Rs 115 -120 levels.

Bank of India: Buy above Rs 341 for the target of 346 / 348 / higher/ with a target of Rs 338 - ICICI Direct

Infosys Technologies touched a 52-week high of Rs 1,951.80. At 10:39 am, the share was quoting at Rs 1,948, up Rs 81, or 4.34%. It was trading with volumes of 113,382 shares. Yesterday the share closed up 4.01% or Rs 71.90 at Rs 1,867.

Adlabs Films can test Rs 400-405, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18

Reliance Industries touched an intraday high of Rs 2,020 and an intraday low of Rs 1,946. At 10:18 am, the share was quoting at Rs 1,998.30, up Rs 64.90, or 3.36%. It was trading with volumes of 224,428 shares. On Friday the share closed down 0.05% or Rs 0.90 at Rs 1,933.40.

Petronet LNG has posted a net profit of Rs 1033.120 million for the quarter ended June 30, 2009 as compared to Rs 1056.467 million for the quarter ended June 30, 2008. It was trading with volumes of 156,862 shares. On Friday the share closed up 8.44% or Rs 89.50 at Rs 1,150. The Petronet LNG stock plunged to Rs 66 after an early surge to Rs 77 and is currently down with a sharp 5.7% loss at Rs 68.25. One holding the stock with a long term plan can stay invested. Fresh buying can be considered at sharp dips.

Reliance Infrastructure was the top loser on the Sensex. It touched an intraday high of Rs 1,184.40 and an intraday low of Rs 1,105.15. The share was quoting at Rs 1,105.80, down Rs 44.2, or 3.84%

Gujarat NRE Coke's net profit has declined sharply in the April - June 2009 quarter. The Company has posted a net profit of Rs 36.40 million for the quarter ended June 30, 2009 as compared to Rs 944.00 million for the quarter ended June 30, 2008.

Total income has decreased from Rs 3821.20 million for the quarter ended June 30, 2008 to Rs 3346.50 million for the quarter ended June 30, 2009. The stock, however, is trading in the positive territory at Rs 46.40, up 1.75% over its previous close.

Petronet LNG touched an intraday high of Rs 77 and an intraday low of Rs 66. At 10:05 am, the share was quoting at Rs 67, down Rs 5.4, or 7.46%. It was trading with volumes of 287,932 shares. On Friday the share closed up 10.70% or Rs 7 at Rs 72.40.

The market opened on a buoyant note this morning on strong global cues. The Sensex sped past the magical 15,000 mark in a flash after opening with a big gap of around 110 points at 14,854. The barometer is up with a strong gain of 230 points or 1.55% at 14,975 at present. The Nifty has gained 66 points or 1.52% at 4440.95.