BSE / NSE Shares analysis 28 April 2009

Bears on a rampage and pushed the benchmark Indian indices Sensex and Nifty down to a dismal close today.  The Sensex went crashing down to 10,961.76 and ended the day at 10,996.28 (provisional) with a huge loss of 375.57 points or 3.3%. The Nifty closed at 3360.10, down 109.90 points or 3.17%.  On concerns over the damage the swine flu could cause on global economy, investors across Asian and European markets were seen pressing heavy sales today.

Realty, metal, bank and capital goods stocks tumbled.Power, telecom, oil, FMCG and pharma stocks also suffered sharp losses.

It was a weak outing for several auto and IT stocks as well.  Midcap and smallcap stocks went sliding down on sustained selling pressure.  The market breadth was very weak at close.

DLF, Reliance Infra, Sterlite, Tata Steel and RComm lost 7% - 8%.  HDFC, ICICI Bank, Tata Motors, BHEL, Hindalco, L&T, SBI, Wipro, HDFC Bank, Tata Power, Bharti Airtel, ITC, RIL, HUL and ACC also declined sharply.  PNB, Reliance Capital, Suzlon, Power Grid, Axis Bank, Siemens, SAIL, Cairn India, ABB, Nalco, RPL, Ambuja Cements and Tata Comm finished with sharp losses.

BPCL bucked the trend and posted a sharp gain.

Syndicate Bank has posted a net profit of Rs 2066.40 million for the quarter ended March 31, 2009 as compared to Rs 1262.60 million for the quarter ended March 31, 2008. Total Income has increased from Rs 23764.00 million for the quarter ended March 31, 2008 to Rs 28756.70 million for the quarter ended March 31, 2009.  At Rs 56, the Syndicate Bank stock does look attractive. But a fall from this level looks likely in the very near term. One holding the stock can stay invested and look to buy more at sharp declines from here.

After running high for seven weeks at a stretch, the market appears to be facing some real pressure now.  There may be a recovery of sorts over the next few sessions, but it is advisable to stay cautious and refrain from taking big chances for the near run.  Long term investors, holding quality stocks, can stay invested with proper stop loss triggers in place.

The World Health Organization, acknowledging the growing threat of swine flu, raised its global pandemic alert, saying the disease is no longer containable.  The alarm level, increased to 4 from 3, is at its highest since the warning system was adopted in 2005, and the virus has been confirmed in the U.K., Mexico, the U.S., Canada and Spain.  With concerns over the impact of the deadly virus on the economy taking front seat now, markets across the globe have suffered sharp losses today. It is advisable to refrain from building up big positions for the time being.

Aditya Birla Nuvo's net profit for the January - March 2009 quarter has come down sharply.  The Company has posted a net profit of Rs 263.90 million for the quarter ended March 31, 2009 as compared to Rs 704.80 million for the quarter ended March 31, 2008. Total Income has increased from Rs 11569.50 million for the quarter ended March 31, 2008 to Rs 11937.40 million for the quarter ended March 31, 2009.  The stock has plunged 8.65% to Rs 535 on heavy selling at the counter.

ABB, the power and automation technology firm, has won substation orders worth around Rs 425 crore from Power Grid Corporation, to boost capacity and help improve grid reliability.  At Rs 490, ABB looks good for long term. One can take a modest exposure now and go in for more at sharp declines.  The stock had touched a low of Rs 344 in early March this year. For now, a stop loss can be placed near that level.

Jubilant Organosys has slipped by over 3% to Rs 116 on weak quarterly results.  The stock is likely to drift further down in the near term.  One holding the stock for long term, can stay invested with a stop loss near Rs 85, its 52-week low.

Fresh buying can be considered later.

Jaiprakash Associates (Rs 132) looks to be a good long term option.  Investors holding the stock can stay invested with a stop loss near Rs 90.  Fresh exposure can be considered if one is looking at long term. More can be bought at declines.

Dena Bank (Rs 38.90) can give fairly good returns over a medium run.  One can go in for this stock at current levels and add more of it at declines.  Vijaya Bank, Indian Bank, Andhra Bank, UCO Bank and Syndicate Bank can also be bought at declines.

Asian markets have suffered sharp losses today.  Earlier, after opening on a weak note, most of the Asian markets had rebounded sharply into the positive zone.  On fears the impact of swine flu will hamper global economic recovery, investors are seen pressing sales in global markets today.

Accumulate cement stocks in small quantites at sharp declines.  Ambuja Cements, Ultratech, Rain Commodities, ACC and Dalmia Cement can give fairly solid returns over a medium to long run.

One holding L&T can stay invested but fresh buying can be avoided for now.  The stock, currently traded at Rs 897, is likely to see a few weak spells in the near run.  Sharp declines can be treated as opportunities to buy this quality stock. However, buying in a staggered manner is advisable.

Pharma major Glaxo Smithkline Pharmaceuticals Limited has posted a net profit of Rs 1432.70 million for the quarter ended March 31, 2009 as compared to Rs 1212.70 million for the quarter ended March 31, 2008.  Total Income has increased from Rs 4342.50 million for the quarter ended March 31, 2008 to Rs 4609.80 million for the quarter ended March 31, 2009.  The stock is up nearly 2% at Rs 1190 now. One holding the stock with a long term view, can stay invested with a stop loss near its 52-week low of Rs 930.

KPIT Cummins has hit the 10% upper circuit at Rs 44.25 today.  The company has reported strong results for the quarter ended 31 March 2009.  A further upmove looks very likely and one willing to wait patiently can go in for the stock at current levels or slightly lower.

Biocon Limited has posted a net profit of Rs 241.40 million for the quarter ended March 31, 2009 as compared to Rs 620.30 million for the quarter ended March 31, 2008. Total Income has increased from Rs 2367.10 million for the quarter ended March 31, 2008 to Rs 2398.40 million for the quarter ended March 31, 2009.  The stock, up 3.4% at Rs 151 at present, is likley to see some weakness in the near run.  One looking at fresh exposure to the stock can wait for now. Investors holding the stock with a long term plan can stay invested with a stop loss near Rs 110.

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Closing Bell 27 April 2009

Closing Bell 27 April 2009

The Indian indices managed to end the day marginally above the dotted line as buying activity led the indices to pare off losses during the final trading session. The BSE-Sensex ended the day with gains of around 40 points. However, the NSE-Nifty closed lower by about 10 points. Stocks from the mid-cap and small-cap space however, ended the day on a negative note, lower by 0.4% and 1% respectively. Barring stocks from the banking and capital goods space, selling activity was witnessed in stocks across sectors. The realty and power sector stocks remained the top losers of the day. At the time of closing, the overall decline to advance ratio was poised at 1.2 to 1 on the BSE.

Other Asian markets ended the day on a mixed note. The European indices are currently trading weak. Rupee was trading at 50.12 against the US dollar at the time of writing.

Petronet LNG announced its FY09 results today. The company recorded a strong topline growth of 29% YoY during the year. Sales were higher on the back of better realisations and rupee depreciation. However, on account of a 32% YoY increase in expenses, the company's operating profits grew by a mere 4% YoY. Its operating margins declined to 10.7% from 13.2% last year. Profitability wise, the company recorded a 9% YoY growth in earnings. This is higher as compared to the operating profits on account of higher other income, which grew by 43% YoY. For 4QFY09, Petronet LNG's topline grew by 52% YoY, while its bottom line surged by 70% YoY. The stock along with its peers, GAIL and IGL, ended the day on a weak note.

Pharma stocks ended the day on a mixed note. While Dr. Reddy's and Lupin ended on a firm note, Wockhardt and Ranbaxy ended the day in the red. As per reports on BSE, Glenmark Pharma's US subsidiary Glenmark Generics, has received a tentative approval from the US FDA for marketing the generic version of the cholesterol-lowering drug 'Ezetimibe'. The company has received approval for selling the 10 mg tablet of this drug. 'Ezetimibe' is the generic version of Schering Plough and MSP Singapore Company LLC`s drug 'Zetia'. However, the company will be able to launch the drug only on receiving final approval from the US FDA. The launch is also subject to the resolution of litigation currently pending in the US courts. Once the approval is received, Glenmark will be able to exclusively market the drug for 180 days. 'Zetia' had garnered sales of US$ 1.5 bn during CY08.

Oil consumption figures for FY09 have been published. With the decline in India's GDP growth rate, crude oil imports and domestic off take of refined products have recorded the lowest growth in the last three years. As far as the future is concerned, it is believed that in the short term the election vehicles will help diesel consumption, while the Nano will increase demand over the long term. We believe that the long term trend in oil consumption in India is only going to be upwards given that the carbon footprint of an average Indian continues to be one of the lowest in the world.

The Indian markets gained ground during the previous two hours of trade as buying was witnessed at lower levels. While banking, telecom and engineering stocks are leading the pack of gainers, select pharma and power stocks are trading weak on the bourses currently. The overall advance to decline ratio is poised at 1.9 to 1 on the BSE.

The BSE-Sensex and NSE-Nifty indices are trading firm, up by around 125 points and 30 points respectively. The BSE-Midcap and BSE-Smallcap indices are also trading firm, up by 1.3% each. The rupee is trading at 49.98 to the dollar.

FMCG stocks are trading mixed. GSK consumer is trading firm, while Dabur India is trading weak currently. As per a leading business daily, Dabur India is planning to enter the apple soft drink market during the current month. The present rivals in the category include Coca-Cola's Fanta Apple and Parle Agro's Appy. The new launch is a part of Dabur's plans to enter the non-cola soft drink market, which is reporting a 30% YoY. Dabur hold 52% market share in the packaged fruit juice market, but is not present in the plain beverage segment. With this new launch, the company is hoping to address this big gap in its portfolio and also enter the low-priced beverage market. On account of rising health awareness among the consumers, the juice and juice-drinks market is witnessing strong demand. Currently pegged yearly at Rs 15 bn, the segment earns higher profitability than the carbonated drinks.

Textile stocks are also trading mixed currently. While Bombay Dyeing and Welspun India are trading firm, Raymond is trading in the red. Raymond had announced its 4QFY09 and FY09 results last weekend. The company's sales grew marginally by 4% YoY during FY09, while the topline declined by 18% YoY during 4QFY09. The company's full year operating margins have improved by 1.7% YoY to 8.6% due to higher realisations in the worsted fabric business. However, due to higher interest costs and a loss on foreign currency borrowing drained Raymaond's full year bottomline, which recorded a loss of Rs 2.7 bn compared to profit of Rs 662 m a year earlier. On account of loss during FY09, the company has not declared any dividends, barring record of continuous dividend payments during the earlier years.

The markets witnessed intense volatility during the previous hour of trade on account of alternate bouts of buying and selling activity. Currently, stocks from the banking, software and metal sectors are leading the pack of gainers, while select stocks from the pharma, power and energy sectors are trading lower. The overall decline to advance ratio is poised evenly on the BSE.

The BSE-Sensex and NSE-Nifty indices are trading lower, down by around 10 points and 20 points respectively. The BSE-Midcap and BSE-Smallcap indices are also trading lower by 0.4% and 0.6% respectively. The rupee is trading at 50.08 to the dollar.

Software stocks are trading mixed. While TCS and Wipro are trading higher, Infosys is trading lower. As per a leading business daily, India's largest IT company TCS plans to relocate its staff abroad to India in order to cut down its costs. TCS follows an onsite-offshore model and plans to do more work in India as it helps in saving costs and increasing efficiency. However, the company would continue to do work onshore. The relocation does not mean that it is winding up its operations abroad. It may be noted that during 4QFY09, the company brought back some of its US staff to India which resulted in savings of Rs 1.2 bn. The company also plans to hire around 24,855 people in India.

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BSE / NSE Shares Analysis for 27th April 2009

BSE / NSE Shares Analysis for 27th April 2009

After a weak start, the market rebounded into the positive territory but ended flat amid high volatility today.The negative trend on the Asian and European bourses following the outbreak of swine flu did weigh in to an extent, but the slide was not significantly sharp.  The Sensex ended at 11,363.72 (provisional) with a gain of 34.67 points or 0.31%.  The barometer hit a high of 11,492.10 today.  The Nifty closed at 3469.05, down 11.70 points or 0.34%.

Bank, capital goods and pharma stocks moved higher.  IT stocks found some support in afternoon trade.  FMCG, oil and auto stocks displayed a mixed trend.  Realty, power and metal stocks declined.

ICICI Bank, Wipro, Jaiprakash Associates, Axis Bank, Sterlite Industries, TCS, Ambuja Cements, Sun Pharma and L&T closed on a firm note.  BHEL, M&M, ITC and Maruti Suzki also posted sharp gains.  Ranbaxy, Reliance Infra, RComm, HUL, SBI, Tata Power, Tata Steel, ACC, Tata Motors, Hindalco and ONGC ended with sharp losses.

Midcap and smallcap stocks attracted profit taking.  The market breadth was marginally negative at close.

Jaiprakash Associates Limited has posted a net profit of Rs 385.32 crore for the quarter ended March 31, 2009 as compared to Rs 210.41 crore for the quarter ended March 31, 2008. Total Income has increased from Rs 1345.28 crore for the quarter ended March 31, 2008 to Rs 2194.57 crore for the quarter ended March 31, 2009.  The stock has gained over 5% to Rs 132.25 now and a further upmove looks very likely in the near run.

Bank, capital goods and pharma stocks have outperformed today. Though Asian and European markets exhibited weakness today following the outbreak of swine flu, Indian stocks have fared reasonably well.  Hectic action in the derivatives segment ahead of April series expiry has rendered the market quite volatile.

One holding quality bank and capital good stocks can stay invested.

Idea Cellular (Rs 61.50) looks set for a sharp rise over a medium term.  One holding the stock can continue to do so and buy more of it in case of declines.  A rise to Rs 75 - 78 looks quite likely. One can book some profit at those levels and re-enter later at declines.

Oriental Bank of Commerce has posted a net profit of Rs 1958.20 million for the quarter ended March 31, 2009. Total Income has increased from Rs 20710.10 million for the quarter ended March 31, 2008 to Rs 26893.80 million for the quarter ended March 31, 2009.  The bank had recorded a net loss of 994.40 million in the January - March 2008 quarter.  The stock is down with a marginal loss at Rs 135.65. Investors looking for some sharp gains over a short run, can try this stock at current levels.

Investors holding Bank Baroda, Bank of India, Indian Bank and IOB can continue to hold them for decent gains over a short run.  One with a good appetite for risk can buy these stocks even at current levels.  However, considering the possibility of some strong correction after recent impressive rally, it is advisable to restrict fresh buying to modest levels.

Despite the company posting strong results, the Petronet LNG stock is struggling for support today.  The stock, currently traded at Rs 52.55, touched a high of Rs 54.90 earlier in the day.  Investors holding the stock with a long term view, can continue to stay invested and look at buying more at declines.  For now, a stop loss can be placed at Rs 30, near the stock's 52 week low.

Global cues are weak and the Indian market, which had a good run in the positive zone earlier in the day, has drifted down now.  Due to short-covering ahead of April series derivatives expiry, some front line stocks may bounce back and score sharp gains.  But, investors looking for fresh exposure would do well to wait for now.

Glenmark Pharmaceuticals Limited has announced that the company's subsidiary has received tentative approval from US-FDA for cholesterol-lowering agent Ezetimibe.  At Rs 196.25, the pharma stock is down marginally from its previous closing mark.  

One looking at long term can stay invested in the stock. More quantities can be added at declines.

Indian Bank's net profit for the January - March2009 quarter rose to Rs 3940.738 million.  The bank had posted a net profit of Rs 2416.686 million for the quarter ended March 31, 2008. Total Income has increased from Rs 16728.474 million for the quarter ended March 31, 2008 to Rs 21484.794 million for the quarter ended March 31, 2009.

Bank Baroda has posted a net profit of Rs 7526.90 million for the quarter ended March 31, 2009 as compared to Rs 2764.40 million for the quarter ended March 31, 2008. Total Income has increased from Rs 38857.00 million for the quarter ended March 31, 2008 to Rs 49924.10 million for the quarter ended March 31, 2009.  Indian Bank and Bank of Baroda stocks are up by 5.5% and 6% at Rs 123.50 and Rs 323 respectively.

Exide Industries Limited has posted a net profit after tax of Rs 682.00 million for the quarter ended March 31, 2009 as compared to Rs 628.20 million for the quarter ended March 31, 2008.  Total Income has increased from Rs 7963.60 million for the quarter ended March 31, 2008 to Rs 8011.30 million for the quarter ended March 31, 2009.  The stock, which opened on a positive note and remained rangebound fill a few minutes to noon, has rallied sharply to Rs 56.25 now, recording a handsome gain of 6.55%.

HDFC (Rs 1820) is a good stock to own.  The stock had hit a low of Rs 1116 in early March this year and a has come a long way off that mark now.  Further upside looks very likely in the near to medium term. Still, a few weak spells are not ruled out.

One looking at fresh exposure to the counter, can try it at Rs 1700 levels.

Fulford India has raised Rs 40.25 crores by issuing 7,00,000 Equity shares of Rs 10/- each at a premium of Rs 565/- per share, to its promoters Dashtag.  The funds were raised to provide capital in order to permit the Company to strengthen its position in the market and act on strategic business growth opportunities.  The stock is down nearly 2% at Rs 170 at present.

One can stay invested in infrastructure stocks Gammon India, IVRCL Infra and GMR Infrastructure for solid gains over a medium run.  One with a good appetite for risk can go in for these stocks even at their current levels.  

Research wings of some leading brokerage houses are maintaining a buy rating on Hero Honda.  The stock, according to many of these research units, can be accumulated at declines.  At present, the Hero Honda stock is traded at Rs 1126. A rise of 15% - 20% looks likely from here.

Cipla (up 5.5% at Rs 252.50) can give decent returns over a short to medium run.  The stock has moved up sharply on strong quarterly results, but some weakness is not ruled out in coming sessions.  One holding the stock can stay invested. Those looking at fresh exposure, can enter the counter at declines.

Stock prices tumbled in early trade on the major Indian bourses this morning as weak cues from Asian markets prompted a sell-off.  The Sensex opened with a negative gap of nearly 100 points at 11,237 and slipped to 11,181.  At present, the barometer is down 133 points or 1.18% at 11,196.

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Market Voices 27th April 2009

Market Voices 27th April 2009

The Indian market outperformed its global peers and ended flat masking a choppy session of trade. The weak global cues were on account of the swine flu pandemic scare across Asia. Sensex shut shop at 11371, up 42 points and Nifty at 3470, down 10 points from the previous close. CNX Midcap index was down 0.42% and BSE Smallcap index was down 1.01%. The market breadth was negative with advances at 496 against declines of 717 on the NSE. Top Nifty gainers included ICICI Bank, Axis Bank and Sterlite Industries while losers were Ranbaxy, Reliance Capital and Unitech. 

Goldman Sachs upgrades ICICI Bank from neutral to buy with a target of Rs 530, reports NDTV Profit. CLSA has a target for the stock at Rs 538 and Morgan Stanley has a target price on the same at Rs 570.  Hold ICICI Bank, if it is able to cross Rs 475 then its next target is Rs 535, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 469, up 8.6% on the BSE.

Despite weak global cues because of the swine flu scare, our market closed flat, easily outperforming global markets that showed clear weakness, says Seshadri Sen of Macquarie Research on CNBC Awaaz. If global cues are favourable tomorrow, there could be some bounce in our market, he adds. His top picks for more upside then are Axis Bank, RIL and Bharti Airtel. 

The correction in the market today could be attributed to profit booking, says Ashwani Gujral, technical analyst, on CNBC TV18. The market has entered a consolidation phase and this is a buy on dips market, he adds. Buy DLF and Unitech as they have more upside in the near term, he feels. 

It was a volatile session but our market outperformed its global peers and ended flat. Sensex closed at 11363, up 34 points (provisional) and Nifty at 3469, down 11 points (provisional) from the previous close. CNX Midcap index was down 0.42% and BSE Smallcap index was down 1.14%. The market breadth was negative with advances at 489 against declines of 718 on the NSE.  

Nifty has strong resistance at 3508-3540, says E Mathew, technical analyst, on CNBC TV18, as closing market strategy. Nifty may drift lower to retest 3260-3320 levels and one can buy on these declines, he adds. Hold Nifty long positions with a target of 3473-3496 and stop loss above 3395, says Rajat Bose, technical analyst, on CNBC Awaaz, as closing market strategy.  

Book profits at current levels, says stockmechanics.com, on CNBC Awaaz, as closing market strategy. Buy Nifty longs if it closes above 3520. 

Hold Petronet LNG with a target of Rs 64 and it has strong support at Rs 42-44, says Anu Jain, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 52, down 1.4% on the BSE.

Nifty has stiff resistance at 3500-3550 and now is likely to be in a range of 3300 on the downside and 3500 on upside, says Ashwani Gujral, technical analyst, on CNBC TV18. Take partial profits at higher levels and one can go long only after Nifty corrects to 3300, he adds. 

Despite weak global cues (on account of swine flu scare in South East Asia) our market has been able to outperform and has not fallen sharply. Sensex is trading at 11362, up 33 points and Nifty is at 3471, down 10 points from the previous close. CNX Midcap index is down 0.45% and BSE Smallcap index is down 1.06%. The market breadth is negative with advances at 486 against declines of 715 on the NSE. 

Hold Patel Engineering with a target of Rs 190 after which it could see a good upmove, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 175, up 2.9% on the BSE. 

Hold Indiabulls Real Estate as it will be in a range of Rs 125 on the lower side and Rs 175 in the higher side, says Hardik Jain of ISJ Securities, on CNBC Awaaz. The stock has support at Rs 120-125, he adds. The stock is currently trading at Rs 128, down 13% on the BSE. 

Buy Bajaj Hindustan with a target of Rs 80-120-140, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 74, down 2.5% on the BSE.  

Buy Ashok Leyland on dips for a target of Rs 27 in the long term, says Vaishali Jaju of Angel Broking on CNBC Awaaz. The stock is currently trading at Rs 21, down 4.2% on the BSE. 

Bonanza Portfolio maintains a buy call on NTPC with a target of Rs 196 and stop loss of Rs 190, reports CNBC Awaaz. The stock is currently trading at Rs 189, down 1.5% on the BSE.

Hold Dr Reddy's with a target of Rs 560-575 and keep a stop loss of Rs 520, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 554, up 0.42% on the BSE. 

European markets continue to be under pressure. Weak global cues see our market trade under pressure as they try to recover. Sensex is trading at 11267, down 61 points and Nifty is at 3438, down 10 points from the previous close. CNX Midcap index is down 0.1% and BSE Smallcap index is down 0.7%. The market breadth is negative with advances at 505 against declines of 685 on the NSE.  

Bonanza Portfolio maintains a buy call on ONGC with a target of Rs 880 and stop loss of Rs 850, reports CNBC Awaaz. The stock is currently trading at Rs 852, down 0.41% on the BSE. 

Buy Cairn India around Rs 165 with a target of Rs 220, says Shrikant Chouhan of Kotak Securities on CNBC Awaaz. The stock is currently trading at Rs 188, down 2.3% on the BSE.

Hold GSPL with a target of Rs 48-50 then it can go to Rs 60 and keep a stop loss of Rs 31, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 41, down 0.24% on the BSE. 

Buy Idea Cellular with a target of Rs 78-80, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 61, up 1% on the BSE. 

Buy Maruti Suzuki with a target of Rs 850, says Mitesh Thakkar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 798, down 0.52% on the BSE. 

Buy Tanla Solutions with a target of Rs 80 in 12 months, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. The stock is currently trading at Rs 48, down 9.7% on the BSE.

The current rally in the market seems extended and the extent of gains seem surprising, says Raamdeo Agarwal, MD, Motilal Oswal Securities, on CNBC TV18. This is a good time to build portfolios for the serious investors in bluechip companies as valuations are not extended after the recent rally, he adds. 

The Asian markets are trading down and European markets have opened under pressure suffering from the outbreak of swine flu. Our market is trading choppy. Sensex is trading at 11332, up 3 points and Nifty is at 3464, down 16 points from the previous close. CNX Midcap index is up 0.25% and BSE Smallcap index is down 0.05%. The market breadth is positive with advances at 594 against declines of 584 on the NSE. 

Hold Balrampur Chini with target of Rs 90 in 3-6 months, says Paras Bothra of Ashika Stock Broking on NDTV Profit. The stock is currently trading at Rs 69.40, down 3.1% on the BSE. 

Buy Cipla for long-term, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 231 and resistance at Rs 268, he adds. The stock is currently trading at Rs 246, up 2.8% on the BSE. 

Hold HCL Technologies and exit when it reaches Rs 145 and switch to some other frontline IT counter, says Vijay Bhambwani, technical analyst, on CNBC TV18. Keep stop loss of Rs 110, he adds. The stock is currently trading at Rs 127.35, up 0.5% on the BSE. 

Book profit in Maruti at Rs 800 or above, says Paras Bothra of Ashika Stock Broking on NDTV Profit. The stock is currently trading at Rs 797.40, down 0.6% on the BSE 

Buy Cipla on dips, says Sudarshan Sukhani, technical analyst, on CNBC TV18. It has broken out of a very long base and promises a lot more excitement, he adds. The stock is currently trading at Rs 246.85, up 3.1% on the BSE.  

Buy Aban Offshore at Rs 350 with long-term target of Rs 600-849, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 497, up 2.2% on the BSE. 

Hold ICICI Bank with target of Rs 500-520, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 407 and resistance at Rs 450, he adds. The stock is currently trading at Rs 458.30, up 6% on the BSE.

The markets are still in the middle of a bear market rally, says Hans Goetti of LGT Bank on CNBC TV18. He adds that he wouldn't be surprised to see the Dow Jones at 9500 in the middle of this year and according to him, there might be positive surprises on the gross domestic product (GDP) front by the end of 2009. Commenting on the elections, he feels that a Congress-led or BJP-led government will be fine for the Indian markets. 

Buy Reliance Industries with target of Rs 1850-1860, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 1750, he adds. The stock is currently trading at Rs 1796.30, up 0.7% on the BSE. 

The market at noon makes good recovery and is at the day's high. Sensex is trading at 11415, up 86 points from its previous close, and Nifty is at 3497, up 16 points. CNX Midcap index is up 1.6% and BSE Smallcap index is up 1.3%. The market breadth is positive with advances at 824 against declines of 334 on the NSE. 

Avoid Unitech, says Sudarshan Sukhani, technical analyst, on CNBC TV18. It is behaving like Satyam, going up and down, he adds. The stock is currently trading at Rs 46.25, up 2.7% on the BSE. 

Buy Balaji Telefilms with target of Rs 60, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 40, he adds. The stock is currently trading at Rs 45.05, down 1.4% on the BSE. 

Buy Punj Lloyd at current levels with short-term target of Rs 135-140 and medium-term target of Rs 150, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 100, he adds. The stock is currently trading at Rs 119.40, up 2.8% on the BSE. 

Sell JP Associates on rally, says Gaurang Shah of Geojit Financials on CNBC Awaaz. Avoid any fresh investment because there is not much good news in this stock, he adds. It is currently trading at Rs 129.30, 2.8% on the BSE. 

Hold Sterlite Industries with target of Rs 480-525 in 6-8 months, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 350, he adds. Add more when it cross its resistance of Rs 420, he says. The stock is currently trading at Rs 414.95, up 4.3% on the BSE. 

Hold HDFC with target of Rs 2100-2150, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 1700, he adds. The stock is currently trading at Rs 1824, up 1.1% on the BSE. 

Buy JP Associates on dips, says Pankaj Jain of Satguru Capital on Zee Business. But do not sell on rally, he adds. The stock is currently trading at Rs 129.30, up 2.8% on the BSE.

Buy Ranbaxy at around Rs 140-150, says Anil Singhvi, market expert, on CNBC Awaaz. The stock is currently trading at Rs 167.70, down 4.5% on the BSE.  

An hour into opening, the market appears to be making some recovery after a flat opening. The Asian markets continue to trade weak. Sensex is trading at 11372, up 43 points from its previous close, and Nifty is at 3483, up 2.7 points. CNX Midcap index is up 1.1% and BSE Smallcap index is up 1.4%. The market breadth is positive with advances at 766 against declines of 332 on the NSE.  

Buy Adlabs Films with target of Rs 266-285 within a week or even sooner, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 237.80, up 0.7% on the BSE. 

Buy Binani Cement with intra-day target of Rs 46, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 38, he adds. The stock is currently trading at Rs 42.20, up 3% on the BSE. 

Do not buy Essar Oil at current levels or even on a small dip, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Avoid this stock completely, he adds. The stock is currently trading at Rs 167.60, down 0.3% on the BSE. 

Buy Federal Bank with medium-term target of Rs 200, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 173.50, he adds. The stock is currently trading at Rs 187.90, up 5.6% on the BSE. 

Buy Tata Motors at Rs 253 with target of Rs 263, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 245, she adds. The stock is currently trading at Rs 254, up 0.6% on the BSE. 

Buy SREI Infrastructure with intra-day target of Rs 45, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 39.50, he adds. The stock is currently trading at Rs 41.65, up 2.3% on the BSE. 

Buy ICICI Bank at Rs 434 with target of Rs 450, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 422, she adds. The stock is currently trading at Rs 444, up 2.7% on the BSE. 

Buy Lanco Infratech with targets of Rs 285 and then Rs 307-310, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 210, he adds. The stock is currently trading at Rs 243.60, up 1.1% on the BSE.

The market opens in the red as expected, in the steps of negative Asian cues. Over the weekend, the US markets did close on a higher note but the Asian markets are trading weak this morning. Sensex is trading at 11306, down 23 points from its previous close, and Nifty is at 3468, down 11 points. CNX Midcap index is down 0.02% and BSE Smallcap index is up 0.3%. The market breadth is negative with advances at 240 against declines of 292 on the NSE. 

The market could be volatile ahead of the expiry, says Amitabh Chakraborty of Religare Securities on CNBC TV18. He reckons that the Nifty could end this series between 3400-3500. The Q4 results till now have been better than expectations, he adds.  

The Nifty on Friday closed on a positive note, says Ashwani Gujral, technical analyst, on CNBC TV18. He sees support for it at 3400-3440 and resistance at 3550. He believes that if it crosses the resistance level then it might go up to 3800 levels.  Rollovers are expected to pick up, says Siddharth Bhamre of Angel Broking on CNBC TV18. The 3300 Put has seen a mix of buying and selling while unwinding is likely at 3500, he adds. He believes that the Nifty may expire around this level.  » Send to friends

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Weekly Review of BSE / NSE 25-04-09

Bulls were on the rampage with the market surging for the seventh week in a row on the back of sustained buying by foreign funds amid signs of improvement in the Indian economy, possibility of further reduction in interest rates with inflation at near zero and on easing credit crunch. The RBI, as part of its Annual Credit Policy, cut its key short-term rates by 25 basis points each on Tuesday, 21 April 2009, to prop up growth amid global economic slowdown. The repo rate, at which the RBI lends to the banks, was cut to 4.75%, and the reverse repo rate, at which the RBI absorbs excess cash from banks, was reduced to 3.25%, effective immediately. The bank rate, used by banks to price long-term loans, remained at 6%. Banks' cash reserve requirements (CRR) were also left unchanged at 5%. Inflation based on the wholesale price index (WPI) rose 0.26% in the year through 11 April 2009, higher than previous week's 0.18% rise, data released by the government on 23 April 2009, showed. FII inflow in April 2009 totaled Rs 4,860.40 crore, while the outflow in calendar year 2009 totaled Rs 1,811.20 crore (till 23 April 2009). The 30-share BSE Sensex jumped 305.96 points or 2.78% to 11,329.05, in week ended 24 April 2009. It was the biggest closing level for the Sensex in more than six months. The broader 50-unit Nifty jumped 96.35 points, or 2.84%, to 3480.75 in the week. The BSE Mid-Cap index gained 127.49 points or 3.67% to 3,600.09 and the BSE Small-Cap index advanced 116.7 points or 2.95% to 4,068.26 in the week. Trading for the week started on a dull note. Key benchmark indices edged lower on 20 April 2009, as investors resorted to profit taking after a recent sharp surge in share prices. The BSE 30-share Sensex fell 43.59 points or 0.4% to 10,979.50. The S&P CNX Nifty fell 7.30 points or 0.22% to 3,377.10. On Tuesday, 21 April 2009, key benchmark indices settled in the red in a day of high volatility triggered volatility in index heavyweight Reliance Industries. Rate sensitive banking and auto stocks fell even as realty stocks gained after the central bank cut short-term interest rates. The BSE 30-share Sensex fell 81.39 points or 0.74% to 10,898.11. The S&P CNX Nifty fell 11.80 points or 0.35% to 3,365.30. The market fell for the third straight day on Wednesday 22 April 2009, led by fall in realty, capital goods and auto stocks. Political uncertainty weighed on the market with polling for India's 15th Lok Sabha underway. The BSE 30-share Sensex fell 80.57 points or 0.74% to 10,817.54. The S&P CNX Nifty fell 35 points or 1.04% to 3,330.30. Bulls were back on Thursday 23 April 2009, as key benchmark indices reversed three days losses on firm global markets. IT, metal, realty, banking and auto stocks jumped that day. The BSE 30-share Sensex rose 317.45 points or 2.93% to 11,134.99. The S&P CNX Nifty rose 93.40 points or 2.8% to 3,423.70. Indices closed higher on 24 April 2009, after sentiments turned bullish with a strong opening of European markets. Rate sensitives like realty and banks lead the rally. The BSE 30-share Sensex rose 194.06 points or 1.74% to 11,329.05. The S&P CNX Nifty rose 57.05 points or 1.67% to 3480.75. India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) rose 3.90% in the week. Its net profit fell 9.35% to Rs 3546 crore on 23.9% fall in sales to Rs 28,362 crore in Q4 March 2009 over Q4 March 2008. The company announced results after the market hours on Thursday, 23 April 2009. Rate sensitive real estate shares rose on hopes lower rates will spur housing demand. DLF (up 5.01%), Indiabulls Real Estate (up 14.56%), and Housing Development & Infrastructure (up 19.32%), spurted. Most of the realty deals including sale of commercial property and housing sales is driven by finance. Banking stocks mostly rose on hopes falling interest rates will boost lending growth. India's largest bank in terms of assets and branch network State Bank of India (SBI) rose 0.11%. SBI chairman O.P. Bhatt on 21 April 2009 said interest rate cuts by the Reserve Bank of India were a signal for commercial banks to lower their rates. He said a decision on whether SBI would lower rates would be taken after a meeting of the bank's asset-liability. SBI's advance tax payment jumped 27.64% to Rs 1810 crore in Q4 March 2009 over Q4 March 2008. India's largest private sector bank by net profit ICICI Bank fell 2.03% ahead of its Q4 March 2009 results on 25 April 2009. A total of 13 brokerages expect a between 2.2% to 45.8% fall in net profit to between Rs 623.30 crore to Rs 1124 crore in Q4 March 2009 over Q4 March 2008. Its American depository receipts (ADR) jumped 9.34% on Thursday, 23 April 2009. India's second largest private sector bank by operating income HDFC Bank rose 3.91% on strong Q4 results. The banks' net profit rose 33.9% to Rs 630.88 crore on 53.1% rise in operating income to Rs 5,365,52 crore in Q4 March 2009 over Q4 March 2008. The results were more or less in line with market expectations. The bank announced the results after trading hours on 23 April 2009. Auto shares rose on hopes lower interest rates would spur demand for vehicles which is mainly driven by finance. Mahindra & Mahindra (rose 4.93%), Tata Motors (up 6.81%) and Hero Honda Motors (up 3.29%), spurted. India's largest car maker by sales Maruti Suzki India fell 4.19%. The company's net profit fell 18.32% to Rs 243.13 crore in Q4 March 2009 over Q4 March 2008. The results hit the market on 24 April 2009. Outsourcing focussed IT stocks recovered on hopes aggressive measures by the United States to revive the economy may bear fruit. US is the biggest market for Indian IT firms. India's largest software services exporter by sales TCS rose 1.67%. India's third largest software services exporter Wipro rose 13.71%. Wipro reported 14.8% rise in Q4 consolidated net profit at Rs 1010 crore on 13.5% rise in total income to Rs 6,583.20 crore in Q4 March 2009 over Q4 March 2008. The company announced the results on 22 April 2009. Wipro has forecast between $1.009 billion and $1.025 billion in revenue from information technology services in the quarter ending 30 June 2009, lower than the $1.058 billion posted in the three months ended 31 March 2009. Wipro Chairman Azim Premji said the company did a major re-organization of its software business at the beginning of the last financial year and hopes to emerge stronger than before. Chief Financial Officer Suresh Senapaty said operating margins for the software business expanded to 21.8% during the quarter from 21% in year-earlier period, in spite of lower business volumes. India's second largest software services exporter Infosys Technologies rose 3.98%. Its consolidated net profit as per Indian GAAP declined 1.7% to Rs 1613 crore on a 2.6% decline in sales to Rs 5635 crore in Q4 March 2009 over Q3 December 2008. Sectors to watch : Positive - IT,Cement,Banking & Metal may witness continued buying Negative - Realty and Capital Goods may witness profit booking. Compiled and Brought to you by Equity Research Team Intelligent Investor - Invest Advisory Arm of Ravina Consulting Bangalore India Read - www.intelligentinvestor1.blogspot.com Follow - www.twitter.com/SmartInvestor

Closing Bell 23 April 2009

Closing Bell 23 April 2009

Strong buying activity led the indices to spike upwards during the final hour of trade as the BSE-Sensex ended the day with gains of around 320 points (2.9%), while the NSE-Nifty closed higher by about 90 points (2.8%). Stocks from the mid-cap and small-cap space also ended the day on a positive note, higher on an average by 1.5% and 0.9% respectively. Buying activity was witnessed in stocks across sectors led by IT, metals and realty. At the time of closing, the overall advance to decline ratio was poised at 1.4 to 1 on the BSE.

Other Asian markets also ended on a firm note today. The European indices are currently trading strong as well. Rupee was trading at 50.06 to the US dollar at the time of writing.

Undeterred by the slowdown in growth of companies in the near to medium term, stocks from the IT sector closed strong today. The pack of gainers was led by Wipro, whose management had shown a bullish stance for the industry in its conference call held yesterday. The stock was followed by Tech Mahindra, Infosys and TCS in that order on the gainers’ pedestal. Factoring in the short term concerns surrounding offshoring, a report from the consulting major, McKinsey, has projected the Indian IT sector to miss its US$ 60 bn export target set for 2010 by around a year. However, McKinsey has also put forward its belief in the value proposition that Indian IT companies can provide to their clients in the long run, while predicting that the industry is sitting on a potential opportunity to treble exports from the current level by the year 2020. That might bring some sigh of relief for long term investors in IT stocks.

Stocks from the telecom sector closed mixed today. While gains were seen in Reliance Communication and Idea Cellular, weakness marked trading in Bharti Airtel. In fact, selling in Bharti came in despite the company’s announcement earlier today that it might consider giving out a dividend to shareholders this year. What is remarkable here is that, if recommended by the board of directors, this would be the first time Bharti will give a dividend to its shareholders since it got listed in the year 2001. As is widely known, the company has grown strongly over the past few years but has ploughed back a lot of the profits back to the business to spread its network across the length and breadth of the country. Today, the company is India’s largest mobile services provider with around 93 m GSM subscribers and covering towns and villages with around 79% of India’s total population. The company’s announcement of the maiden dividend might definitely bring some cheer to investors who have held the stock for many years, only benefiting in terms of capital gains.

Latest inflation figures came in today. As reported, inflation measured by the wholesale price index or WPI rose to 0.26% for the week ended April 11, from 0.18% in the previous week. Rise in prices of essential food articles like cereals, eggs, salt, fruits, and vegetable is reported to be the reason for the rise in inflation for the said week. But did the prices of these essential items did fall anytime in the recent past while inflation was on a decline? We wonder!

While investors and analysts around the world and in India remain worried about the ‘E’ in the P/E as companies come out with their quarterly results, there are some companies that do not seem perturbed by the slowdown or so it seems. Take the case of McDonald’s, your neighbourhood fast food joint. As reported in the international media, while the company’s global sales grew by 4.3%, growth in Asia, the Middle East and Africa combined stood at 5.5%. And here is what the company’s CEO Jim Skinner had to say, "Our well-known value proposition and unparalleled convenience continue to resonate with customers."

The markets continued to trade higher into the positive territory on account of sustained buying activity witnessed during the previous two hours of trade. Stocks from the auto, metals and cement sectors are trading higher, while select stocks from the construction, pharma and software sectors are trading lower on the Nifty. The overall advance to decline ratio is evenly poised on the BSE.

The BSE-Sensex and NSE-Nifty indices are trading higher, up by around 170 points and 50 points respectively. The BSE-Midcap and BSE-Smallcap indices are trading higher, up by 0.3% each. The rupee is trading at 50.17 to the dollar.

Pharma Stocks are trading mixed. While Glenmark Pharma and Aurobindo Pharma are trading higher, Sun Pharma and Ranbaxy are trading lower. As per a leading business daily, Israeli pharma major Teva and Glenmark Pharma have made an out of court settlement over the patent dispute on various generic versions of 'Coreg', a drug used in treating congestive heart failure. Teva had filed a case against Glenmark Generics, a US based subsidiary of Glenmark Pharma, over the process patent for preparing 'Carvedilol', the main pharmaceutical compound used in the generic version of 'Coreg'. In return Glenmark filed a lawsuit challenging two of Teva's patents related to the same drug. It may be noted that annual sales of drugs using 'Carvedilol' as API in the US were around US$ 1.7 bn at end of June 2007. 'Coreg' was GSK's fifth best-selling drug in the second-quarter of 2007. However in 2007 the USFDA approved 14 generic versions of 'Coreg' belonging to various companies that include Aurobindo Pharma, Sun Pharma, Dr Reddy's Laboratories, Lupin, Ranbaxy and Zydus.

Cement stocks are trading mixed. While Ultratech Cement and India Cements are trading lower, Ambuja Cements and ACC are trading higher. Ambuja Cements announced its 1QCY09 results last evening. The standalone topline grew by 12% YoY during 1QCY09 backed by higher volumes and better realisations. While sales volumes were up 5.8% YoY, realisations grew by 5.5% YoY during the same period. Cost of operations outpaced growth in topline resulting into 2.7% contraction in EBITDA margins mainly on account of increase in raw material costs and higher coal prices (opening inventory). During the quarter, profits were flat at the PBT level, while bottomline expanded by 2.4% YoY. If one excludes extraordinary expense incurred in 1QCY08, bottomline growth was also stagnant.

The Indian markets started the day's proceeding on a volatile note. While buying is being witnessed in stocks from the software and energy space, stocks from the realty, consumer durables and banking sector are at the receiving end. The overall decline to advance ratio is poised at 1.2 to 1 on the BSE. As regards global markets, while the US markets ended mixed, the European markets closed in the green. The Asian indices are currently trading in the green.

While the BSE Sensex is trading higher, up by around 30 points, NSE Nifty is trading lower, down by 10 points. The BSE Midcap and Smallcap indices are trading lower by 0.5% and 1% respectively. The rupee is trading at 50.31 to the dollar.

Power sector stocks are trading weak led by NTPC, Tata Power and Reliance Power. As per a leading business daily, NTPC is planning to spin off its coal mines division as a separate unit that will offer consultancy and mining services to companies which have been allotted captive mines. The company is also in talks with Bharat Earth Movers (BEML) to forge an alliance to offer the services. It may be noted that NTPC had signed a MoU with BEML in February 2007 for a long-term strategic and business partnership wherein BEML provides its range of mining equipment and services for NTPC's coal mining operations. This move of spinning off will help NTPC in exploiting opportunities in the area of consultancy and mining services as most of other companies operating in this space have no experience in coal mining.

Engineering stocks are currently trading mixed. While Voltas, Crompton Greaves and Engineers India are garnering investors' interest, Punj Lloyd, ABB and Thermax are at the receiving end. Praj Industries announced its FY09 result yesterday. The sales grew by 10% YoY during FY09, however, it fell by 2% YoY during 4QFY09. The operating margins expanded by 3% YoY during the year. This is largely on account of lower raw material costs as a percentage of sales. During 4QFY09, operating margins contracted by 3.2% YoY. Net profits declined by 16% YoY during FY09 on the back of forex losses (on advances received from customers and extraordinary losses to the tune of Rs 343 m as compared to Rs 218 m forex gain in the previous year). Excluding these adjustments (for both the years), net profit for FY09 has grown by 25% YoY. Order backlog stood at Rs 8 bn, which is slightly higher than the company's FY09 net sales.

IMF's gloomy forecast

Going by the latest projections of the IMF and the World Bank, it looks like the global financial crisis is far from over. The IMF has pegged the losses from the global economic crisis at a mind boggling US$ 4.1 trillion and is of the opinion that around US$ 1.1 trillion will be needed to fix this problem. These numbers more than amply highlight the depth of the crisis. Out of these losses, US$ 2.7 trillion is from loans and assets originating in the US, followed by Western Europe, whose financial institutions will have to write down US$ 1.2 trillion in loans and securities originating there. The silver lining in the cloud is that IMF has spotted the first glimmers of stabilization in the global financial system. But the hard work is not yet over and rather than resting on laurels, the IMF has stressed on the need for "continued decisive and effective action" by governments, banks and institutions like itself if the system has to be prevented from going down under. While many world leaders pledged US$ 1.1 trillion more for the fund this month, the latter's mettle will now be tested as it will have to work out a way of bailing out economies on the brink of a collapse.

Worldwide, banks have been caught in a vicious cycle. Mounting losses translated into serious liquidity problems as a result of which banks became vary of lending further. This in turn impacted the corporate world resulting in shrinking economic activity which in turn has again impacted the balance sheets of banks. India and China, despite the slowdown in their respective economies, seem to be in a better shape than their developed peers. Further as per IMF, Europe is likely to be hit harder than the US as the former has been slower than its American counterpart in addressing the crisis.

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BSE / NSE Shares analysis for 23 April 2009

BSE / NSE Shares analysis for 23 April 2009

Shrugging off a listless start, the market rallied sharply on strong global cues and some encouraging report cards from India Inc to end on a buoyant note today.

The Sensex vaulted to 11,203.28 during the fag end of the session and settled at 11,198.28 (provisional) with a thumping gain of 380.74 points or 3.52%.  The Nifty ended at 3437.50, up 107.20 points or 3.22%.

IT stocks were on song right through the session.  Realty and bank stocks bounced back after initial weakness and closed upbeat.  Metal, auto, capital goods, oil and power stocks also ended on a high note.  Select pharma, consumer durables and FMCG stocks attracted attention.

Wipro ended with a hefty gain of over 13%. Infosys and TCS also finished with big gains.  Tata Steel moved up by over 10%. Sterlite Industries and Hindalco also closed firm.  Grasim, Maruti Suzuki, Reliance Infra, Tata Motors, L&T, M&M, DLF, JP Associates, RComm, SBI, RIL, ONGC and BHEL also signed off with handsome gains.

SAIL, Axis Bank, PNB, Reliance Capital, Power Grid, Ambuja Cements, Hero Honda and HCL Tech gained 3% - 8%.  RPL, Siemens, Cairn, Suzlon, Nalco, Cipla, Idea Cellular and GAIL India too closed on a firm note.

After remaining subdued for a long time, midcap and smallcap stocks rallied during the final hour.  The market breadth was fairly strong at close.

Reliance Power Limited has posted a net profit after tax of Rs 2489.038 million for the year ended March 31, 2009 as compared to Rs 946.689 million for the year ended March 31, 2008.  Other income has increased from Rs 1328.674 million for the year ended March 31, 2008 to Rs 3347.160 million for the year ended March 31, 2009.

IT majors Wipro, TCS and Infosys may attract some profit taking after their impressive surge today.  Still, one willing to wait can stay invested in these stocks.  Sharp dips can be utilised to increase exposure. There may be a few weak spells in the next couple of weeks, but these stocks have some strong upside from their current levels.

RNRL has posted a net profit of Rs 698.702 million for the year ended March 31, 2009 as compared to Rs 685.987 million for the year ended March 31, 2008. Total Income has increased from Rs 3673.065 million for the year ended March 31, 2008 to Rs 4167.878 million for the year ended March 31, 2009.  The RNRL stock is up marginally at Rs 58.20 now. One holding the stock with a long term plan can stay invested with a stop loss near Rs 35.

Reliance Petroleum Limited has posted a net profit after tax of Rs 840 million for the quarter ended March 31, 2009. Total Income is Rs 37020 million for the quarter ended March 31, 2009.  The Company has posted a net profit after tax of Rs 840 million for the year ended March 31, 2009. Total Income is Rs 37020 million for the year ended March 31, 2009.

Intra-day traders can buy LIC Housing Finance (Rs 306) now for some sharp gains.  A stop loss can be placed near Rs 298.

Investors with a short to medium outlook can stay invested.

The Nifty (3385) has some good support around 3363.  Some sluggish movements around that level can result in a fall to 3345 then even down to 3330 levels.  On the upmove, the index will have to stay firm here and decisively breach 3400 to record further gains.

Ambuja Cements (Rs 81) can be retained for long term.  The stock is likely to give pretty good returns over the next 18 - 24 months.  One can increase exposure at declines from current levels.

Deepak Nitrate Limited will be going ahead with its promising Rs 225 crore Greenfield project at Dahej (Gujarat) to establish substantial additional capacities for chlorination, hydrogenation and nitration.  The company has already acquired 60 acres of land at Dahej. The location has proximity to sources of the necessary imputs for the project.

IMF stated yesterday that losses at financial institutions could approach $4.1 trillion worldwide  The fund has asked countries to take bolder action to bolster banks or risk an even deeper recession.  The bank feels more capital is needed to cushion against further losses.

12:10 PM: Inflation rose 0.26% for the week ended April 11, as against 0.18% in the previous week.

It was above a median forecast of 0.09 per cent. The annual inflation rate was 7.95 per cent during the corresponding week of the previous year.

11:54 AM: Investors with a long term view can stay invested in L&T (cmp Rs 842) and pick up more in small quantities at declines.  The stock is not likely to see a sustained slide from here.  BHEL, BEL and Siemens also look good for long term.

Automobile stocks are having a good outing this morning.  One holding Hero Honda, M&M, Tata Motors and Maruti Suzuki can stay invested for now with proper stop loss triggers.  Though some weak outings are not ruled out, a modest rise looks very much on the cards.

KEC International has bagged two new orders worth Rs 95 crore in the Southern Africa region.  The orders are for turnkey construction of 110 Kv S/C transmission line and substation in Mozambique and supply & installation of OPGW cable and accessories in Namibia.  The stock, currently traded at Rs 218, is a good one for long run. One can pick up the stock at declines.

Investors holding LIC Housing Finance can stay invested and pick up more of it at declines.  The stock, currently traded at Rs 304, can move up by 10 - 15% even in the near run.  

M&M Financial Services (up nearly 7% at Rs 225) has moved up on strong results.  The stock may see further upside in the near run. However, if the overall mood turns bearish, then a fall from current levels is likely.  One holding the stock with a medium or long term view, can stay invested. Others can sell at rallies and re-enter later at declines.

Trading got off to a listless start on the Indian bourses this morning amid mixed global cues.  The Sensex opened with a positive gap and rose to 10,885.41 but has slipped to 10825.54 (up 8 points) at present.  The Nifty moved on to 3353 in opening trade but is down marginally at 3329.40 now.

Sterlite, Wipro, RComm, DLF, M&M, Tata Motors, Infosys, TCS and Reliance Infra have posted sharp gains.  Ambuja Cements, RPower, Idea Cellular, Tata Comm, Suzlon, SAIL, Reliance Capital and Siemens are among the prominent gainers in the Nifty pack.

Market Outlook

Amid mixed global cues, the mood is likely to remain somewhat cautious on the Indian bourses today. Quarterly results will have a major say in the market's direction during the course of the session.

The market is likely to remain quite listless today with Reliance Industries, Reliance Infrastructure, Reliance Petroleum, Reliance Natural Resources and Reliance Power slated to announce their quarterly numbers.

Sector Watch

Information technology stocks are likely to remain in focus. Realty stocks may post gains but are likely to find it tough to hold at higher levels. Selective buying is seen in banking, metal and capital goods sectors.

Scrip Watch

Ambuja Cements Limited has posted a net profit of Rs 3340.50 million for the quarter ended March 31, 2009 as compared to Rs 3262.00 million for the quarter ended March 31, 2008. Total Income has increased from Rs 16968.20 million for the quarter ended March 31, 2008 to Rs 18884.80 million for the quarter ended March 31, 2009.

Yes Bank recorded a sharp jump in its net profit for the quarter ended 31 March 2009. The bank has posted a net profit of Rs 801.10 million for the quarter ended March 31, 2009 as compared to Rs 645.00 million for the quarter ended March 31, 2008. Total Income has increased from Rs 4943.00 million for the quarter ended March 31, 2008 to Rs 6560.70 million for the quarter ended March 31, 2009.

M&M Financial Services is likely to attract attention today. The financial services arm of Mahindra & Mahindra has posted a net profit of Rs 1080.437 million for the quarter ended March 31, 2009 as compared to Rs 753.930 million for the quarter ended March 31, 2008. The company's total income increased from Rs 3613.014 million for the quarter ended March 31, 2008 to Rs 3976.894 million for the quarter ended March 31, 2009.

GTL may struggle for support due to weak quarterly numbers. The company, according to reports, has earmarked Rs 4 billion capital expenditure for the next two financial years, expecting increased contracts from Indian companies. The company expects more contracts during this year from telecom companies, especially from BSNL.

Besides some Reliance group heavyweights, Bajaj Hindustan, HCL Infosys, HDFC Bank, Idea Cellular, LIC Housing Finance, Maharashtra Seamless and SKF India are among the other companies scheduled to announce their results today.

Macro and Market Factors

Cues from Wall Street are not positive with concerns over losses in the banking sector triggering some selling. Asian markets are trading mixed today.

The data on inflation will be eyed. The recent cut in Repo and Reverse Repo rates and hopes several commercial banks will reduce lending rates to spur growth may prevent the market from sliding down sharply.

Compiled and Brought to you by 

Equity Research Team

Intelligent Investor -

Invest Advisory Arm of

Ravina Consulting

Bangalore India

Read - www.intelligentinvestor1.blogspot.com

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BSE / Nse Shares analysis 22 April 2009

BSE / Nse Shares analysis 22 April 2009

Power stocks can be retained if one is looking at them with a long term view.Stocks like Areva, CESC, NLC, Tata Power, Power Grid Corporation and PFC can be accumulated in a staggered fashion.  Reliance Power can give good returns over a long run, but then, the stock is likely to remain quite slippery in the near term.

Zee Entertainment Enterprises Limited has posted a net profit after tax of Rs 725.40 million for the quarter ended March 31, 2009 where as the same was at Rs 794.50 million for the quarter ended March 31, 2008. Total Income is Rs 3168.10 million for the quarter ended March 31, 2009 where as the same was at Rs 3413.40 million for the quarter ended March 31, 2008. The stock is up nearly 4% at Rs 125.40. One holding the stock with a long term view can stay invested.  Fresh exposure can be considered at Rs 110 - 115 levels.

With as many as 50 stocks set to exit from the derivatives section from May 2009, the midcap space is likely to see some listless action over the next few sessions.  Investors with little or no appetite for risk would do well to stay away from taking fresh exposure in stocks that comprise the list.  A little wait would do no great harm.

Transformers & Rectifiers India Ltd (TRIL) has informed that it has been awarded single order of 55 Nos. of Transformers amounting to by Maharashtra State Electricity Transmission Company Limited.  The order, estimated at Rs 122 crore, will significantly augment the current order book position of the firm.  At Rs 175, the stock is up marginally over its previous closing price. The stock has come a long way up from a low of Rs 102.60 it had touched in late February 2009.

Notwithstanding a few sharp rallies now and then, the market is likely to find the going a bit tough for the next couple of quarters, if not longer.  So, it is better to exit at sharp rallies and stay focused only on a proven blue chip stocks.

Bank, infrastructure, cement and top notch IT stocks are likely to see a significant upmove over the next 12 - 18 months.

One holding Idea Cellular can stay invested for some strong gains over a medium term.  The stock, currently traded at Rs 56, can rise to Rs 60 - 63 in the short run. Investors with a short-term plan can book some profits there and re-enter the counter later at declines.

Marico continues to grow despite economic slowdown.  The company has recorded a turnover of Rs 2388 crore for the year ended March 31, 2009, a growth of 25% over FY08.  The company's profit growth works out to 30% at PBT level and 16% at PAT level if one excludes one time extra-ordinary items from both FY08 and FY09.

Ultratech Cement's net profit for the quarter ended 31 March 2009 rose nearly 16% to Rs 1888.86 crore.  The stock is up by a little over a per cent at Rs 572 now.  Investors holding the stock with a long term view can stay invested and look to increase exposure at declines.  ACC has posted a net profit of Rs 404.76 crore for the quarter ended 31 March 2009.  The cement major had posted a net profit of Rs 357.54 crore for the corresponding quarter last fiscal.

One looking at medium to long term can stay invested in ACC, Ambuja Cements and Ultratech.  Exposure can be increased at sharp falls.  Since construction and infrastructure projects may take off anytime in the next couple of quarters, demand for cement is likely to see a sharp rise later this year.

Indian Hotels (Rs 51.50) can move on to Rs 60 if it continues to trade firm here for a few sessions.  A decisive breakout there can result in a surge to Rs 75.  On the downside, the stock has good support near Rs 43. One can have a stop loss around that level.

BGR Energy Systems has announced that the Environmental Engineering Division of the company has secured a contract for Design, Engineering, Supply, Erection and Commissioning of large "Total Water System" from Maithon Power Ltd, Jharkhand.

The contract is valued at Rs 15.50 crore. The stock is up 1.5% at Rs 176.50.

Forecast of a near normal monsoon is expected to keep fertilizer stocks in focus.  One can stay invested in stocks like Nagarjuna Fertilziers, Chambal Fertilizers, Tata Chemicals, RCF, Deepak Fertilizers and GSFC.  Declines can be treated as opportunities to increase exposure to the sector.

Wipro (up 5.4% at Rs 289) has moved up sharply this morning following a sharp jump in the Group's consolidtated net profit for the quarter ended 31 March 2009.  On a standalone basis, however, the company's net profit has dropped down by around 6.75% to Rs 842.10 crore.  One holding the stock with a long term view can stay invested and pick up more of it at sharp declines.

Riding on the strength of realty, bank, metal, auto and capital goods stocks, the market moved up and posted sharp gains in early trade this morning.  Positive global cues have contributed to the early surge today.

The Sensex, which opened at 10,968.80, edged up to 10,992.21 and is currently up with a sharp gain of 77.84 points or 0.71% at 10,975.95.  The Nifty is up 23.70 points or 0.7% at 3389.  Suzlon, PNB, ICICI Bank, DLF and Tata Steel are up 3% - 6% now.

Unitech, RComm, Axis Bank, Tata Motors, Reliance Capital, Wipro, Siemens, Hindalco and L&T have posted sharp gains.   Heavy weight stocks, RIL, SBI and HDFC also trade firm.

Market Outlook

The market is expected to open on a firm note on positive global cues. There may be some profit taking at higher levels but the undertone is likely to remain fairly positive right through the session today.

Sector Watch

Cement stocks will see plenty of action with industry majors ACC and Ambuja Cements scheduled to announce their quarterly results during the course of the day.

Realty and bank stocks are likely to find support. Information technology stocks are expected to surge higher. Selective buying is seen in metal, pharma and capital goods sectors.

Scrip Watch

Wipro has posted a consolidated net profit of Rs 10100 million for the quarter ended March 31, 2009 as compared to Rs 8800 million for the quarter ended March 31, 2008. On a standalone basis, Wipro has posted a net profit of Rs 8421 million for the quarter ended March 31, 2009 where as the same was at Rs 9029 million for the quarter ended March 31, 2008. Total Income is Rs 53966 million for the quarter ended March 31, 2009 where as the same was at Rs 53681 million for the quarter ended March 31, 2008.

HCL Technologies Limited has posted a net profit of Rs 1525.70 million for the quarter ended March 31, 2009 as compared to Rs 2630.80 million for the quarter ended March 31, 2008. Total Income has decreased from Rs 13291.30 million for the quarter ended March 31, 2008 to Rs 10930.70 million for the quarter ended March 31, 2009.

GTL,Hindustan Zinc, Yes Bank, Marico, Macmilan Industries and Zee Entertainment will be announcing their results.

ICICI Bank is likley to be in focus following the bank reducing benchmark lending rates by 50 basis points.

Sesa Goa is likely to attract attention on reports that the company is looking at options of bidding for the controlling stake in an iron ore mine that has been put on the block by Brazil's mining exploration company GME4.

Hero Honda may attract attention following the company reporting a sharp 34.6% jump in net profit for the quarter ended 31 March 2009.

Macro and Market Factors

Stock prices rebounded on Wall Street yesterday after suffering some big losses in the previous session. The US Treasury Secretary's assurance to the Congressional Oversight Panel that there is enough money left in the government's $700 billion financial rescue program to stabilize the financial system brought the bulls back to the ring.

Asian markets are trading mixed now after a positive start. Despite a 25 basis points cut in Repo and Reverse Repo rates, the Indian market had drifted lower yesterday. The RBI governor feels that banks needed to lend to ensure economic activity continues unhindered, reminding banks that in the current environment their challenge was to keep credit flowing, while, at the same time, maintaining portfolio quality.

Compiled and Brought to you by 

Equity Research Team

Intelligent Investor -

Invest Advisory Arm of

Ravina Consulting

Bangalore India

Read - www.intelligentinvestor1.blogspot.com

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Market Voices 22 April 2009

The market ended flat after having struggled in the last couple of hours of trade. All major indices witnessed profit booking. The market was reacting negatively to news of SEBI excluding 50 stocks from the F&O and there was also reaction to some Q4 results announced today. Sensex shut shop at 10817, down 80 points and Nifty at 3330, down 35 points from the previous close. CNX Midcap index was down 1% and BSE Smallcap index was down 1.6%. The market breadth was negative with advances at 426 against declines of 791 on the NSE. Top Nifty gainers included Suzlon Energy, Reliance Power and ACC while losers included HCL Technologies, Unitech and ABB.

Book profits in Dewan Housing from current levels to Rs 95, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. The stock is at Rs 79.20, up 4.6% on the BSE. 

Hem Securities maintains a buy call on Tata Tea with target of Rs 820, reports CNBC Awaaz. The stock is at Rs 688.20, up 0.04% on the BSE. 

Exit Tata Steel, Hindalco, Sail at current levels and wait for deeper corrections, says Sudarshan Sukhani, technical analyst, on CNBC TV18. 

Hold Essel Propack with short-term stop loss of Rs 14.50, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. It has resistance at Rs 17-20, he says. The stock is at Rs 16.38, up 9.5% on the BSE.

The Indian market ended flat amid uncertainity and volatility. Sensex closed at 10821, down 77 points (provisional) and Nifty at 3334, down 30 points (provisional) from the previous close. CNX Midcap index was down 1% and BSE Smallcap index was down 1.6%. The market breadth was negative with advances at 445 against declines of 772 on the NSE.  

Buy Nifty April 3300 Call with stop loss of 20 points, says Sudarshan Sukhani, technical anlayst, on CNBC TV18, as market closing strategy. 

Close all long positions and look at 3250 as support, says Vijay Bhambwani, technical anlayst, on CNBC TV18, as market closing strategy.

Hold Noida Toll Bridge with stop loss of Rs 25, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. Short-term traders may book profits, he adds. It has resistance at Rs 32, he says. The stock is currently trading at Rs 28.10, down 10.7% on the BSE. 

If the Nifty level of 3300 breaks down then there is strong support at 3250-3150, says Ashwani Gujral, technical analyst, on CNBC TV18. He expects the market to remain flat for the next few days before making a further move. 

The market appears to be struggling again, witnessing a fall in all major sectors. Sensex is trading at 10800, down 98 points and Nifty is at 3323, down 46 points from the previous close. CNX Midcap index is down 1.5% and BSE Smallcap index is down 1.9%. The market breadth is negative with advances at 403 against declines of 805 on the NSE.

Hold Pantaloon with stop loss of Rs 160, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. It has resistance at Rs 208 crossing which it might go up to Rs 245, he adds. The stock is currently trading at Rs 184.75, up 3.2% on the 

Hold Suzlon Energy with targets of Rs 63 and then Rs 72, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss below Rs 52, she adds. The stock is currently trading at Rs 60.50, up 5.3% on the 

The stimulus packages and the policy action taken by various central banks have finally begun kicking in and helped in boosting the markets, says KN Vaidyanathan of Alchemy Capital Management on CNBC TV18. However, he does not see too much of an upside and expects the rally to cap at 3800 on the Nifty and 12000 on the Sensex.

Buy PFC on dips and hold for long term, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 153.15, down 0.7% on the 

Traders should avoid fresh positions in stocks that have been excluded from F&O by SEBI, says Askhita Deshmukh, technical analyst, on CNBC Awaaz. There is volatility in these stocks and buying should be only after they come out of expiry, she 

Buy Idea Cellular on dips with stop loss below Rs 51, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 56.30, down 3.6% on the 

Buy Suzlon Energy with long-term view, says Sudarshan Sukhani, technical analyst, on CNBC TV18. It has strong resistance at Rs 77-75, he adds. The stock is currently trading at Rs 60, up 4.4% on the 

Sell Alok Industries, says SP Tulsian, investment advisor, on CNBC TV18. The stock is currently trading at Rs 13.50, down 6.4% on the BSE. 

The market appears to be making some recovery from the day's low amid volatility. The European markets are now trading mixed. Sensex is trading at 10781, down 116 points and Nifty is at 3319, down 45 points from the previous close. CNX Midcap index is down 0.8% and BSE Smallcap index is down 1.4%. The market breadth is negative with advances at 451 against declines of 744 on the NSE. 

Hold Sterlite Industries with stop loss of Rs 370, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 376, down 1.7% on the BSE.

The exclusion of 50 stocks from F&O is a step in the right direction as it will reduce speculation and encourage cash buying, says Dipan Mehta, member of BSE & NSE, on CNBC TV18. He feels that there may be short-term pressure due to unwinding of leveraged positions. He advises avoiding volatile counters like Akruti in future. He expects the Nifty to break out of the 3300-3350 range closer to the 

Sell Rolta India at around Rs 100, says SP Tulsian, investment advisor, on CNBC TV18. Buy again at Rs 80-85, he adds. The stock is currently trading at Rs 88.75, down 13.4% on the 

Buy BHEL with target of Rs 1750, says Bharat Dalal of Dawnay Day AV Financial Services on NDTV Profit. It has support at Rs 1590, he adds. The stock is currently trading at Rs 1591.90, down 3.2% on the BSE. 

Buy Edelweiss Capital around Rs 250 with targets of Rs 330 and then Rs 415-420, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 286, down 5.3% on the BSE. 

The market is likely to be range-bound and I expect some consolidation after the recent rally, says Vibhav Kapoor of IL&FS on CNBC TV18. He sees the Nifty between 3100-3500 till elections. 

Buy Hindalco with target of Rs 65-68, says Bharat Dalal of Dawnay Day AV Financial Services on NDTV Profit. It has support at Rs 52, he adds. The stock is currently trading at Rs 54.15, down 2.6% on the 

The market is trading near the day's low. Traders appear to be avoiding long positions awaiting Q4 results from index heavyweights. Banking and power stocks seem to be pulling the market down. The European markets have opened in the red and the Asian markets are trading mixed. Sensex is trading at 10772, down 126 points and Nifty is at 3317, down 48 points from the previous close. CNX Midcap index is down 1.2% and BSE Smallcap index is down 2%. The market breadth is negative with advances at 400 against declines of 772 on the NSE. 

Buy Wipro with a target of Rs 311-325 where one can exit and keep a stop loss of Rs 272, says Ashu Bagri, technical analyst, on NDTV Profit. The stock is currently trading at Rs 277, up 1.2% on the BSE. 

Buy Yes Bank with a target of Rs 100-150 where one can exit and keep a stop loss of Rs 50, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 80, up 1% on the 

Buy ICICI Bank with a target of Rs 455 and stop loss of Rs 385, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 398, down 0.15% on the 

Buy Idea Cellular with a target of Rs 67-68 and keep a stop loss of Rs 53, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 57, down 2.4% on the BSE.

Buy Hindustan Zinc with a target of Rs 540 where one can exit and keep a stop loss of Rs 480, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 487, down 0.25% on the 

Buy SBI, Infosys, L&T and Tata Steel on any dips as these are top large cap picks for good long-term gains, says Ashish Kapur of Invest Shoppe on NDTV Profit. 

Nifty range for now seems 3300 on the downside and 3500 on the upside, says Ashu Bagri, technical analyst, on NDTV Profit. His top picks if Nifty runs are ACC and BPCL. 

SMC Global Securities maintains a buy call on NDTV with a target of Rs 132 and stop loss of Rs 104, reports CNBC Awaaz. The stock is currently trading at Rs 111, down 0.8% on the 

Buy Marico with a target of Rs 75, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 64, up 0.7% on the BSE. 

The market is seeing some choppiness in trade at noon. Sensex is trading at 10909, up 11 points and Nifty is at 3355, down 10 points from the previous close. CNX Midcap index is up 0.54% and BSE Smallcap index is down 0.28%. The market breadth is positive with advances at 637 against declines of 503 on the NSE.

Buy Punj Lloyd on dips around Rs 100 as it has an excellent long-term upside potential, says SP Tulsian, market expert, on CNBC TV18. The stock is currently trading at Rs 106, up 3.3% on the BSE. 

Hold Indian Hotels with a target of Rs 65-75 where one can book profits, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 51, up 2.5% on the BSE. 

Hold Rolta with a target of Rs 137 and it has support at Rs 95, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 96, down 5.3% on the BSE. 

The unemployment situation in the US may get worse, says Cantor Fitzgerald Services on NDTV Profit. As per IMF over $4 trillion in credit related writedowns are expected. The outcome of stress tests remain key trigger and credit quality is likely to deteriorate. 

The market is likely to remain volatile until outcome of elections is clear, says Ved Prakash Chaturvedi of Tata Mutual Fund, on NDTV Profit. The Q4 corporate earnings and guidance will impact the market, he says. There are early signs of return of confidence to emerging markets, including India, he adds. 

It is difficult to say which direction the market is likely to go now unless Nifty breaks below 3300 or goes past 3500 decisively, says MB Singh, technical analyst, on Zee Business. Overall the market is likely to consolidate for some time and then an upside looks possible, he adds. 

The market continues to trade firm. Sensex is trading at 10997, up 100 points and Nifty is at 3387, up 22 points from the previous close. CNX Midcap index is up 1.89% and BSE Smallcap index is up 1.58%. The market breadth is positive with advances at 865 against declines of 248 on the 

Buy HCL Technologies with a target of Rs 144, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 131, down 4.5% on the BSE. 

Buy GMR Infra around Rs 90 with a target of Rs 145 where one can book profits and keep a stop loss of Rs 75, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 122, up 4.03% on the BSE. 

Buy IDFC with a target of Rs 105-110, says E Mathew, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 78, up 3.6% on the BSE.  

Hold Opto Circuits with a target of Rs 130 then it can go to Rs 162 and keep a stop loss of Rs 104-99, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 115, up 1.14% on the BSE.

Buy Karur Vysa Bank with a target of Rs 272, says E Mathew, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 246, down 4.2% on the BSE. 

Buy Tech Mahindra on dips with a target of Rs 327-361 and it has support at Rs 295, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 320, up 0.6% on the BSE. 

Wipro comes out with its Q4 results, posts revenues up 13% at Rs 6482 crore versus Rs 5732 crore (YoY) and net profit up 15% at Rs 1010 crore versus Rs 880 crore (YoY), reports NDTV Profit. The stock is currently trading at Rs 290, up 5.8% on the BSE.  

Sell TCS with a target of Rs 535 and stop loss of Rs 557, says PK Agarwal of Bonanza Portfolio, on Zee Business. The stock is currently trading at Rs 544, down 1.23% on the BSE. 

Buy GMR Infra with a target of Rs 140 and stop loss of Rs 110, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 120, up 2.1% on the 

The pullback in the US market helps the Indian market make a reasonable start. Sensex is trading at 10956, up 58 points and Nifty is at 3372, up 7 points from the previous close. CNX Midcap index is up 1.49% and BSE Smallcap index is up 1.12%. 

Flat to positive opening expected for the market, says Pankaj Jain of ICICI Securities, on NDTV Profit. Sensex below 10900 may correct to 10719 in the near term, he adds. Sensex range seen around 10900-11300, he adds. 

SEBI comes out with new criteria for F&O stock selection and excludes 50 stocks with immediate effect, reports NDTV Profit.  » Send to friends  Nifty has been trading volatile for past few days, says Anu Jain, technical analyst, on CNBC TV18. Nifty still has a stiff challenge to break past 3400, she adds. 

The market is likely to be flat for the next few days as Nifty has strong support around 3300-3250, says Ashwani Gujral, technical analyst, on CNBC TV18. Now the market is likely to be in a cyclical bull market that can take Nifty up to 3800-4200 and cyclical bear market that can take it lower, he feels. 

Today Nifty is likely to bounceback from lower levels of 3250, says Rahul Mohindar, technical analyst, on CNBC TV18. So buy on declines and hold for a couple of days, he adds. Buy SBI around Rs 1240 with a target of Rs 1320 over 1-2 weeks, he adds.

Compiled and Brought to you by 

Equity Research Team

Intelligent Investor -

Invest Advisory Arm of

Ravina Consulting

Bangalore India

Read - www.intelligentinvestor1.blogspot.com

Follow - www.twitter.com/SmartInvestor