BSE / NSE Shares analysis 1st June 2009
The board of directors of AXIS Bank has approved borrowing / raising funds to the extent of Rs 3,000 crores in FY 2009-10 by issue of Debt instruments. The bank plans to raise Rs 500 crore or equivalent amount in Indian / foreign currency by issue of debt instruments in domestic and / or overseas market, eligible for inclusion in tier I capital and Rs 2,500 crore or equivalent amount in Indian / foreign currency by issue of debt instruments in domestic and / or overseas market, eligible for inclusion in tier II capital.
TVS Motor has reported a decent growth in vehicles sales in May 2009. TVS Motor Company's domestic motorcycle sales clocked a 3% growth in May 2009 over May 2008. Total motorcycle sales, however, slipped 2.23% to 53,495 units in May 2009 over May 2008. The stock is trading at Rs 46.30 at present. One looking at long term can stay invested in the stock and pick up more of it at declines.
Glenmark Pharmaceuticals has received ANDA approval from U.S. FDA for Hydralazine Hydrochloride Tablets. The product has been approved in the active strengths of 10 mg, 50 mg and 100 mg as the AB rated generic Pliva's equivalent Hydralzine Hydrochloride. The tablets are indicated for the treatment of essential hypertension.
Parsvnath Developers Limited has got the approval for its 'Parsvnath La Tropicana' project. The Premium luxury project in the heart of Delhi, is estimated to be worth arond Rs 1300 crore.
The Parsvanath Developers stock is up 1.25% at Rs 98 now. One looking at long term can try this stock at declines. Last message received on 6/1/2009 at 11:19 AM balakumar subramanian:
Religare Enterprises and Swiss Reinsurance Company have signed a non-binding agreement to develop a joint venture health insurance company in India. The proposed JV will further strengthen Religare's diversified portfolio and bolster it presence in the insurance domain.
One seeing some good profits in Cairn India (cmp Rs 248) can book some at current levels. The stock is likely to face some resistance at these levels. Though a further rise is not ruled out, some profit taking here is not a bad idea. The stock is a good buy at Rs 220 - 225 levels.
Hero Honda Motors has reported a sharp 22.5% jump in vehicle sales for the month of May 2009.
Vehicle sales rose 22.5% to 3.82 lakh units in May 2009 over May 2008. The company plans to launch a 100 cubic centimetre (CC) motorcycle in the price band of Rs. 40,000-45,000. The bike in the entry-level category will be launched by the end of the current fiscal. At Rs 1353, the stock is up by nearly 1.25% now. Long term investors can continue to hold the stock.
One looking for some solid gains over a short to medium term can try Suzlon Energy (cmp Rs 106) at Rs 95 levels. The stock is likely to face some resistance near Rs 115 but a strong breakout there can result in a surge to Rs 130 - 135. One looking at long term can have a stop loss at Rs 70 - 75 levels.
RComm, DLF, Sun Pharma, HDFC, Tata Steel and ACC are up y 3% - 7%.
Reliance Infra, ICICI Bank, Tata Motors, Sterlite, Bharti Airtel, ITC, Grasim, L&T, BHEL, Tata Power and Ranbaxy have also risen sharply. RIL, Infosys and Wipro have also posted strong gains.
Market Outlook
The market is expected to open on a firm note and remain positive for a major part of the session. Some profit taking is likely at higher levels.
Sector Watch
Realty, bank and automobile stocks are likely to attract attention. IT stocks are expected to rebound and regain some lost ground. Capital goods and metal stocks may edge higher. A fair amout of buying is seen in infrastructure space.
Scrip Watch
Sun Pharmaceutical may attract attention. The pharma major has posted a rise of 22.24% in net profit after minority interest of Rs 18,177.30 million for the year ended Mar. 31, 2009 as compared to Rs 14,869 million for the year ended Mar. 31, 2008.
Unitech is likely to be in focus on reports that the company is looking at repaying about Rs 20 billion of its debt and bring it below Rs 60 billion level by the end of this fiscal.
Macro and Market Factors
The Wall Street closed on a firm note on Friday as investor sentiment remained fairly buoyant. Asian markets are trading firm with an expansion in Chinese manufacturing for a third month raising hopes of a global economic recovery.
Strong GDP numbers has sent stock prices soaring higher on the Indian bourses last week and the mood is likely to remain quite upbeat this morning with strong global cues aiding the sentiment further.
Showing posts with label Basics of Investing in BSE. Show all posts
Showing posts with label Basics of Investing in BSE. Show all posts
Monday, June 1, 2009
Closing Bell 1st June 2009
Closing Bell 1st June 2009
Auto stocks ended the day on a firm note led by M&M, TVS Motors and Bajaj Auto. Auto sales numbers for the month of May 2009 have begun to trickle in. Two-wheeler major, Hero Honda announced a 23% YoY increase in volumes as compared to last year. On the other hand, its peer group company TVS Motors announced a 5% YoY rise in vehicle sales during the month. This rise in volumes was aided by higher domestic motorcycle sales and moped sales. However, exports for the month slipped by 21% YoY. For FY10, the company’s management has indicated that it expects the volumes to increase by 10% YoY. Further, India’s largest passenger car maker Maruti Suzuki, recorded a 16% YoY growth in volumes during the month of May 2009. This was largely aided by higher export sales, which grew by 87% YoY, while its domestic sales grew by 10% YoY.
Pharma stocks ended the day on a firm note led by Panacea Biotec, Wockhardt and Aurobindo Pharma. Glenmark Pharmaceuticals has received the final approval from drug regulator US FDA for marketing its anti-hypertension drug. As per the company, it will immediately commence marketing and shipping its generic in the US market. As per certain estimates, the market size of such hypertension drugs is poised to be around US$ 55 m (Rs 2.8 bn) as of March 2009.
The global economic slowdown has taken its toll on Indian exports, which for the month of April 2009 fell by almost one-third as compared to the same month last year. It may be noted that exports have now fallen for nearly 7 months in a row. During the month of April 2009, the figure stood at US$ 10.7 bn as compared to US$ 16.1 bn last year. During FY09, exports grew by a mere 3.4% to almost US$ 169 bn. On the other hand, the slowdown in domestic markets has also lowered imports by nearly 36% YoY during the same period. Imports on the other hand have dropped mainly on account of a 58% YoY reduction in oil import.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 180 points and 70 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.7% and 3.1% respectively. The rupee is trading at 46.95 to the dollar.
Banking stocks are trading mixed. While SBI and Yes Bank are trading higher, Axis Bank and PNB are trading lower. As per a leading business daily, SBI is planning to increase its number of deposit holders in rural areas in order to raise more deposits at lower interest rates. It aims to add around 40 m rural deposit accounts by FY11. It may be noted that the bank has currently around 50 m accounts on the deposits side, while 10 m accounts on the advances side in the rural areas. It also plans to increase its CASA to 45% in FY10 as against 39% during FY09. Further, it plans to cover additional 50,000 villages during the current fiscal. In fact it has tied up with Indian Post to mobilize deposits and loans in rural areas. This is a positive move by the bank as it would enable it to mobilize low cost deposits from the rural areas and improve its net interest income margins which stood at 2.9% in FY09.
Steel stocks are trading higher led by Tata Steel and JSW Steel. As per a leading business daily, Tata Steel got approval from its lenders to reset the terms and conditions of covenants. Covenants are agreements between a company and its lenders that stipulate the condition under which loan is granted. It may be noted that Tata Steel had raised debt of £ 3.7 bn for the acquisition of Corus in 2007. The revised covenant package does not involve any additional finance from the lenders or rescheduling of debt servicing commitments. However, the company will not have to pay any extra interest cost for the remaining tenure of the loan. Also, as part of the agreement reached with lenders, earnings related covenants will largely be suspended till FY10 and would resume from FY11 with significantly higher flexibility as compared with the original covenants. Tata Steel will infuse £ 425 m into Tata Steel UK in a phased manner, out of which £ 200 m would be used to prepay debt at Corus in order to deleverage its balance sheet.
Though trading in the green, the Indian markets have pared some of their early gains during the previous two hours of trade on the back of selling pressure among the index heavy weights. Currently, stocks from the realty, metals and IT sectors are leading the pack of gainers, while select banking and telecom stocks are trading weak. The overall advance to decline ratio is poised at 3.6 to 1 on the BSE.
Power stocks are trading firm led by NTPC, Power Grid and Reliance Power. As per a leading business daily, NTPC is likely to acquire coal mines abroad. For this, the company has identified two to three coal blocks in Mozambique and Indonesia, for which due diligence is currently being done. Although, the company has recently signed a 20 years long-term Fuel Supply Agreement with Coal India to assure supply of coal for a portion of its capacity expansion, there is still a shortfall of coal supply of around 18 m tonnes during the current fiscal which is likely to be met through imports. It may be noted that NTPC has outlined massive capacity expansion plans with 22,000 MW greenfield projects by the end of the 11th five year plan period that would push up the coal requirements for NTPC going forward.
As per a leading business daily, M&M has launched a major revamp of its tractor business as it looks to sharpen its product line-up and protect its market share. The tractors from Punjab Tractor, which it acquired recently, will constitute the lower end category, while that manufactured by M&M will be slotted in the premium category. Both the categories will have different distribution and marketing channels. However, the back-end operations like sourcing of raw materials, manufacturing and product development will be the same. The company currently commands a market share of 41% in the tractor business. The stock of M&M is currently trading firm on the bourses.
Backed by strong global cues, the Indian markets are trading in the positive for the fourth session in a row. All the stocks on the NSE Nifty are trading firm with engineering, telecom and energy stocks leading the pack of gainers. The overall advance to decline ratio is poised at 6.9 to 1 on the NSE. As regards global markets, the US markets ended on a high note. For the month of May, Dow jumped 3.8%, while the S&P 500 rose 5.2% and the Nasdaq advanced 3.6%, their biggest three-month run since 2007. The European markets too closed higher last Friday. The Asian indices are currently trading firm.
Colgate announced its FY09 results last Friday. The topline saw a growth of more than 15% YoY during the quarter as well as the full year. Its market share improved to 52.2% (Jan - March 09) from 48.2% last year. Colgate outpaced industry growth, both in the toothpaste and the toothbrush category during 2008. While the toothpaste industry grew 14.5%, Colgate registered a growth of 18%. In the case of toothbrush, it saw a growth of 17.3% as against the industry growth of 7.6%. Operating margins during 4QFY09 improved by 3.9% YoY. For FY09, the margins improved to 20%, up 0.7% YoY. Excluding extraordinary items, the bottomline grew by 27% YoY during FY09. It paid a total dividend of Rs 15 per share for the year (dividend yield of 3.2%). With the penetration level of toothpaste being as low as 57% and the per capita level being 108 gm/year which is less than its Asian peers, there is huge scope for the company to grow. While the urban areas are expected to drive consumption, rural areas would drive penetration. FMCG stocks are trading firm.
Auto stocks have started the day’s proceedings on a firm note. As per a leading business daily, car major Maruti is expected to see an increase of 8% to 10% in the domestic car sales during the month of May backed by strong rural demand and buoyant exports. As per the company, exports have jumped more than 50% YoY during last month, driven by improved European demand. The rural market sales have increased to 9% of its total sales from about 3.5% earlier on account of concerted push in these regions by the company. This would be the fifth consecutive month when Maruti would clock over 70,000 units in sales. In April, its domestic sales grew 9% YoY and overall numbers (including exports) were up 15% YoY. Fiscal stimulus measures undertaken by the government as well as lowering of interest rates by some key banks has aided higher demand.
Auto stocks ended the day on a firm note led by M&M, TVS Motors and Bajaj Auto. Auto sales numbers for the month of May 2009 have begun to trickle in. Two-wheeler major, Hero Honda announced a 23% YoY increase in volumes as compared to last year. On the other hand, its peer group company TVS Motors announced a 5% YoY rise in vehicle sales during the month. This rise in volumes was aided by higher domestic motorcycle sales and moped sales. However, exports for the month slipped by 21% YoY. For FY10, the company’s management has indicated that it expects the volumes to increase by 10% YoY. Further, India’s largest passenger car maker Maruti Suzuki, recorded a 16% YoY growth in volumes during the month of May 2009. This was largely aided by higher export sales, which grew by 87% YoY, while its domestic sales grew by 10% YoY.
Pharma stocks ended the day on a firm note led by Panacea Biotec, Wockhardt and Aurobindo Pharma. Glenmark Pharmaceuticals has received the final approval from drug regulator US FDA for marketing its anti-hypertension drug. As per the company, it will immediately commence marketing and shipping its generic in the US market. As per certain estimates, the market size of such hypertension drugs is poised to be around US$ 55 m (Rs 2.8 bn) as of March 2009.
The global economic slowdown has taken its toll on Indian exports, which for the month of April 2009 fell by almost one-third as compared to the same month last year. It may be noted that exports have now fallen for nearly 7 months in a row. During the month of April 2009, the figure stood at US$ 10.7 bn as compared to US$ 16.1 bn last year. During FY09, exports grew by a mere 3.4% to almost US$ 169 bn. On the other hand, the slowdown in domestic markets has also lowered imports by nearly 36% YoY during the same period. Imports on the other hand have dropped mainly on account of a 58% YoY reduction in oil import.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 180 points and 70 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.7% and 3.1% respectively. The rupee is trading at 46.95 to the dollar.
Banking stocks are trading mixed. While SBI and Yes Bank are trading higher, Axis Bank and PNB are trading lower. As per a leading business daily, SBI is planning to increase its number of deposit holders in rural areas in order to raise more deposits at lower interest rates. It aims to add around 40 m rural deposit accounts by FY11. It may be noted that the bank has currently around 50 m accounts on the deposits side, while 10 m accounts on the advances side in the rural areas. It also plans to increase its CASA to 45% in FY10 as against 39% during FY09. Further, it plans to cover additional 50,000 villages during the current fiscal. In fact it has tied up with Indian Post to mobilize deposits and loans in rural areas. This is a positive move by the bank as it would enable it to mobilize low cost deposits from the rural areas and improve its net interest income margins which stood at 2.9% in FY09.
Steel stocks are trading higher led by Tata Steel and JSW Steel. As per a leading business daily, Tata Steel got approval from its lenders to reset the terms and conditions of covenants. Covenants are agreements between a company and its lenders that stipulate the condition under which loan is granted. It may be noted that Tata Steel had raised debt of £ 3.7 bn for the acquisition of Corus in 2007. The revised covenant package does not involve any additional finance from the lenders or rescheduling of debt servicing commitments. However, the company will not have to pay any extra interest cost for the remaining tenure of the loan. Also, as part of the agreement reached with lenders, earnings related covenants will largely be suspended till FY10 and would resume from FY11 with significantly higher flexibility as compared with the original covenants. Tata Steel will infuse £ 425 m into Tata Steel UK in a phased manner, out of which £ 200 m would be used to prepay debt at Corus in order to deleverage its balance sheet.
Though trading in the green, the Indian markets have pared some of their early gains during the previous two hours of trade on the back of selling pressure among the index heavy weights. Currently, stocks from the realty, metals and IT sectors are leading the pack of gainers, while select banking and telecom stocks are trading weak. The overall advance to decline ratio is poised at 3.6 to 1 on the BSE.
Power stocks are trading firm led by NTPC, Power Grid and Reliance Power. As per a leading business daily, NTPC is likely to acquire coal mines abroad. For this, the company has identified two to three coal blocks in Mozambique and Indonesia, for which due diligence is currently being done. Although, the company has recently signed a 20 years long-term Fuel Supply Agreement with Coal India to assure supply of coal for a portion of its capacity expansion, there is still a shortfall of coal supply of around 18 m tonnes during the current fiscal which is likely to be met through imports. It may be noted that NTPC has outlined massive capacity expansion plans with 22,000 MW greenfield projects by the end of the 11th five year plan period that would push up the coal requirements for NTPC going forward.
As per a leading business daily, M&M has launched a major revamp of its tractor business as it looks to sharpen its product line-up and protect its market share. The tractors from Punjab Tractor, which it acquired recently, will constitute the lower end category, while that manufactured by M&M will be slotted in the premium category. Both the categories will have different distribution and marketing channels. However, the back-end operations like sourcing of raw materials, manufacturing and product development will be the same. The company currently commands a market share of 41% in the tractor business. The stock of M&M is currently trading firm on the bourses.
Backed by strong global cues, the Indian markets are trading in the positive for the fourth session in a row. All the stocks on the NSE Nifty are trading firm with engineering, telecom and energy stocks leading the pack of gainers. The overall advance to decline ratio is poised at 6.9 to 1 on the NSE. As regards global markets, the US markets ended on a high note. For the month of May, Dow jumped 3.8%, while the S&P 500 rose 5.2% and the Nasdaq advanced 3.6%, their biggest three-month run since 2007. The European markets too closed higher last Friday. The Asian indices are currently trading firm.
Colgate announced its FY09 results last Friday. The topline saw a growth of more than 15% YoY during the quarter as well as the full year. Its market share improved to 52.2% (Jan - March 09) from 48.2% last year. Colgate outpaced industry growth, both in the toothpaste and the toothbrush category during 2008. While the toothpaste industry grew 14.5%, Colgate registered a growth of 18%. In the case of toothbrush, it saw a growth of 17.3% as against the industry growth of 7.6%. Operating margins during 4QFY09 improved by 3.9% YoY. For FY09, the margins improved to 20%, up 0.7% YoY. Excluding extraordinary items, the bottomline grew by 27% YoY during FY09. It paid a total dividend of Rs 15 per share for the year (dividend yield of 3.2%). With the penetration level of toothpaste being as low as 57% and the per capita level being 108 gm/year which is less than its Asian peers, there is huge scope for the company to grow. While the urban areas are expected to drive consumption, rural areas would drive penetration. FMCG stocks are trading firm.
Auto stocks have started the day’s proceedings on a firm note. As per a leading business daily, car major Maruti is expected to see an increase of 8% to 10% in the domestic car sales during the month of May backed by strong rural demand and buoyant exports. As per the company, exports have jumped more than 50% YoY during last month, driven by improved European demand. The rural market sales have increased to 9% of its total sales from about 3.5% earlier on account of concerted push in these regions by the company. This would be the fifth consecutive month when Maruti would clock over 70,000 units in sales. In April, its domestic sales grew 9% YoY and overall numbers (including exports) were up 15% YoY. Fiscal stimulus measures undertaken by the government as well as lowering of interest rates by some key banks has aided higher demand.
Wednesday, May 27, 2009
Closing Bell 27 May 2009
Closing Bell 27 May 2009
Strong buying activity during the final hour of trade led the Indian markets to end the day on a firm note as the BSE-Sensex ended the day higher by around 520 points, while the NSE-Nifty closed higher by about 160 points. Stocks from the mid-cap and small-cap spaces ended the day on a strong note, recording gains of 3.7% and 3.4% respectively. Buying activity was witnessed in stocks across sectors led by realty, banking and power. However stocks from the healthcare and FMCG spaces were less in favour.
Asian markets ended the day on a firm note. The European indices are currently trading in the green as well. Rupee was trading at 47.7 against the US dollar at the time of writing.
Software stocks ended the day on a firm note led by HCL Technologies, Tech Mahindra and Mphasis. As per a leading business daily, the respective managements of software majors, Infosys and Wipro expect higher demand from the domestic market and the Middle East going forward. In fact, Wipro plans to ramp up its expansion plans in the Middle East as the company expects growth to be in the region of 50% plus each year. It may be noted that the Middle East and the Indian markets are not highly penetrated as compared to the developed countries.
Auto stocks ended the day on a firm note led by Ashok Leyland, Tata Motors and M&M. A leading business daily reported that the management of Maruti Suzuki is concerned about its revenue growth coming from two of its models - Dzire and Swift. It believes that the company could face problems if this issue continued longer. The management added that Maruti’s performance in many other models was not up to the mark. Volumes of the company’s A1 models, which mainly includes the M-800, declined by 29% YoY during the year, while volumes of its C segment (includes Omni, Versa) declined by 13% YoY. On the other hand, volumes of its other two segments - A2 (which includes Alto, Wagon R, Swift, amongst others) and A3 (which includes SX4 and Dzire) grew by 54% YoY. As such, on account of the slowing volumes in the A1 and C segments, the company is trying to boost volumes by targeting the rural areas.
Consulting firm McKinsey in its latest report has stated that it expects the Indian pharmaceutical industry to grow rapidly in the coming years. It believes that the demand will largely grow in the domestic market. It expects the market to grow by at least 10% YoY to 12% YoY. In addition, the firm stated that it expects large pharma companies to weather the slowdown in the economy as they have comfortable cash positions. However, it expects smaller and highly leveraged firms to be under pressure.
The Indian markets continued to trade in the positive territory on account of sustained buying activity witnessed during the previous two hours of trade. Stocks from the telecom, power and construction sectors are leading the pack of gainers, while select stocks from the cement and FMCG sectors are trading lower. The overall advance to decline ratio is poised at 4.3 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 390 points and 95 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.9% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Energy stocks are trading firm led by ONGC, GAIL and Reliance Industries. As per a leading business daily, the government is likely to double the prices of natural gas sold through the administered price mechanism (APM) to US$ 4.2 per m British thermal unit. It may be noted that all the gas produced from the existing fields in nominated blocks of ONGC and OIL is treated as APM gas. It amounts to around 45 m cubic meters a day and accounts for around 34% of India’s total natural gas production. It may be noted that selling of gas under APM has resulted in huge losses for the producing companies. ONGC had accounted for a loss of around Rs 21.4 bn for its gas business in FY08 due to the same. As such, it is a positive development for the company.
Shipping stocks are trading firm led by G.E. Shipping and Mercator Lines. As per a leading business daily, Indian shipping companies are likely to face margin pressures in the coming quarters on account of a fall in tanker freight rates due to subdued oil demand. It may be noted that average freight rates of tankers have fallen by around 40% to 60% as compared to last year. Moreover, freight rates are expected to remain lower as vessel utilisation is likely to remain low in 2009.
The Indian markets held on their gains during the previous two hours of trade as buying activity was witnessed across sectors. Currently, stocks from the metals, realty and banking sectors are leading the pack of gainers, while select telecom and power stocks are trading weak. The overall advance to decline ratio is poised at 4.7 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 330 points and 80 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.7% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Aluminium stocks are trading firm led Nalco and Hindalco. As per a leading business daily, Nalco has cut aluminium prices to the tune of Rs 4,000 to Rs 5,000 per tonne on the back of increasing threat of imports. The company has been facing a threat from large exporters in Chinese and Bahrain markets as the Rupee has appreciated against the US dollar. This move will help the company to quote prices at parity with the imports. It may be noted that CMIE expects aluminium demand to remain firm during FY10 on account of a healthy requirement from the electrical power equipment and construction sectors. Nalco plans to cater to the growth in demand through its various expansion plans.
As per a leading business daily, ITC will have to suspend production at all it facilities in order to introduce sufficient changes in cigarettes packets to reflect the mandatory pictorial warnings from June onwards. This new packaging would mean application of more colours, which require advanced printing cylinders. This would increase the total cost of packaging by at least 15%. It will also put Indian manufacturers at a further disadvantage compared to the illegally imported cigarettes on account of the huge price gap. It may be noted that the tobacco industry is already facing turbulent times due to the economic slowdown. Adherence to the mandatory pictorial warnings will further slacken the industry’s revenues going forward. The stock of ITC is trading lower currently.
Strong buying activity during the final hour of trade led the Indian markets to end the day on a firm note as the BSE-Sensex ended the day higher by around 520 points, while the NSE-Nifty closed higher by about 160 points. Stocks from the mid-cap and small-cap spaces ended the day on a strong note, recording gains of 3.7% and 3.4% respectively. Buying activity was witnessed in stocks across sectors led by realty, banking and power. However stocks from the healthcare and FMCG spaces were less in favour.
Asian markets ended the day on a firm note. The European indices are currently trading in the green as well. Rupee was trading at 47.7 against the US dollar at the time of writing.
Software stocks ended the day on a firm note led by HCL Technologies, Tech Mahindra and Mphasis. As per a leading business daily, the respective managements of software majors, Infosys and Wipro expect higher demand from the domestic market and the Middle East going forward. In fact, Wipro plans to ramp up its expansion plans in the Middle East as the company expects growth to be in the region of 50% plus each year. It may be noted that the Middle East and the Indian markets are not highly penetrated as compared to the developed countries.
Auto stocks ended the day on a firm note led by Ashok Leyland, Tata Motors and M&M. A leading business daily reported that the management of Maruti Suzuki is concerned about its revenue growth coming from two of its models - Dzire and Swift. It believes that the company could face problems if this issue continued longer. The management added that Maruti’s performance in many other models was not up to the mark. Volumes of the company’s A1 models, which mainly includes the M-800, declined by 29% YoY during the year, while volumes of its C segment (includes Omni, Versa) declined by 13% YoY. On the other hand, volumes of its other two segments - A2 (which includes Alto, Wagon R, Swift, amongst others) and A3 (which includes SX4 and Dzire) grew by 54% YoY. As such, on account of the slowing volumes in the A1 and C segments, the company is trying to boost volumes by targeting the rural areas.
Consulting firm McKinsey in its latest report has stated that it expects the Indian pharmaceutical industry to grow rapidly in the coming years. It believes that the demand will largely grow in the domestic market. It expects the market to grow by at least 10% YoY to 12% YoY. In addition, the firm stated that it expects large pharma companies to weather the slowdown in the economy as they have comfortable cash positions. However, it expects smaller and highly leveraged firms to be under pressure.
The Indian markets continued to trade in the positive territory on account of sustained buying activity witnessed during the previous two hours of trade. Stocks from the telecom, power and construction sectors are leading the pack of gainers, while select stocks from the cement and FMCG sectors are trading lower. The overall advance to decline ratio is poised at 4.3 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 390 points and 95 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.9% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Energy stocks are trading firm led by ONGC, GAIL and Reliance Industries. As per a leading business daily, the government is likely to double the prices of natural gas sold through the administered price mechanism (APM) to US$ 4.2 per m British thermal unit. It may be noted that all the gas produced from the existing fields in nominated blocks of ONGC and OIL is treated as APM gas. It amounts to around 45 m cubic meters a day and accounts for around 34% of India’s total natural gas production. It may be noted that selling of gas under APM has resulted in huge losses for the producing companies. ONGC had accounted for a loss of around Rs 21.4 bn for its gas business in FY08 due to the same. As such, it is a positive development for the company.
Shipping stocks are trading firm led by G.E. Shipping and Mercator Lines. As per a leading business daily, Indian shipping companies are likely to face margin pressures in the coming quarters on account of a fall in tanker freight rates due to subdued oil demand. It may be noted that average freight rates of tankers have fallen by around 40% to 60% as compared to last year. Moreover, freight rates are expected to remain lower as vessel utilisation is likely to remain low in 2009.
The Indian markets held on their gains during the previous two hours of trade as buying activity was witnessed across sectors. Currently, stocks from the metals, realty and banking sectors are leading the pack of gainers, while select telecom and power stocks are trading weak. The overall advance to decline ratio is poised at 4.7 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 330 points and 80 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.7% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Aluminium stocks are trading firm led Nalco and Hindalco. As per a leading business daily, Nalco has cut aluminium prices to the tune of Rs 4,000 to Rs 5,000 per tonne on the back of increasing threat of imports. The company has been facing a threat from large exporters in Chinese and Bahrain markets as the Rupee has appreciated against the US dollar. This move will help the company to quote prices at parity with the imports. It may be noted that CMIE expects aluminium demand to remain firm during FY10 on account of a healthy requirement from the electrical power equipment and construction sectors. Nalco plans to cater to the growth in demand through its various expansion plans.
As per a leading business daily, ITC will have to suspend production at all it facilities in order to introduce sufficient changes in cigarettes packets to reflect the mandatory pictorial warnings from June onwards. This new packaging would mean application of more colours, which require advanced printing cylinders. This would increase the total cost of packaging by at least 15%. It will also put Indian manufacturers at a further disadvantage compared to the illegally imported cigarettes on account of the huge price gap. It may be noted that the tobacco industry is already facing turbulent times due to the economic slowdown. Adherence to the mandatory pictorial warnings will further slacken the industry’s revenues going forward. The stock of ITC is trading lower currently.
BSE / NSE Shares analysis
BSE / NSE SHares analysis
The bulls, with strong global cued aiding them no end, went on a rampage and guided the market to a buoyant close today. Stocks, with the exception of those from the FMCG space, had a splendid run in the positive territory as buying continued right through the session.
Better-than-expected consumer confidence data from the U.S. and strong stimulus by the Chinese government kept the mood in Asian markets pretty upbeat today.
The Sensex ended at 14,095.97 (provisional) with a thumping gain of 506.74 points or 3.73%. The index, which opened nearly 200 points up today, hit a high of 14,122.78. The Nifty closed at 4274.60, up 157.90 points or 3.84% over its previous close.
Realty, bank, power, metal, capital goods and PSU stocks ended with strong gains. IT, consumer durables, oil, auto and pharma stocks also closed on a high note.
Reliance Infrastructure shot up by nearly 15%. Sterlite, ONGC and DLF gained 8.5% - 9.5%. Grasim and Ranbaxy moved up by over 7%.
ICICI Bank, HDFC Bank, SBI, JP Associates, Tata Motors, L&T, HDFC, RComm, RIL, Infosys, TCS, Tata Steel, Tata Power and M&M closed on a high note.
RPower, Idea Cellular, HCL Tech, Siemens, Reliance Capital, Axis Bank, Nalco, Cairn India, Unitech, Suzlon, GAIL India, RPL, BPCL and Power Grid Corporation finished with strong gains.
Buying has gathered tremendous momentum in late afternoon trade and the Sensex now looks set to end on an upbeat note. The barometer, which zoomed to 14,122.78 on aggressibe buying in blue chips, is up by over 500 points or 3.72% at 14,095.22 now. The Nifty is up 154.50 points or 3.75% at 4271.20.
Reliance Infra, RPower, Idea, Sterlite, ONGC, HCL Tech, DLF, Grasim, Reliance Capital and Ranbaxy have gained 7% - 14.5% now. ICICI Bank, SBI, JP Associates, HDFC Bank, Tata Motors, L&T, BHEL, HDFC, RComm, TCS, Infosys, Tata Steel, Tata Power and M&M are also up with strong gains.
Finance minister Pranab Mukherjee has stated that he will present the full budget for 2009-10 in the first week of July and that reviving growth momentum of the economy will be the top priority for the government but revival would not be at the cost of fiscal prudence.
Mukherjee said the UPA had in its manifesto committed to presenting the budget within 45 days of formation of the government. Keeping that deadline in mind, the budget for 2009-10 will be presented in the first week of July, he said, adding the government would endeavour for the budget to be passed before July 31.
GMR Infrastructure Ltd has informed that GMR Kamalanga Energy Ltd, a subsidiary of the Company achieved financial closure. The GMR Infra stock (up 4.2% at Rs 164) is a good buy at 20 - 30% down from its current levels. Though one can expect some decent gains in the near run, a strong corrective spell is not ruled out.
Godfrey Phillips India Ltd, a flagship company of K K Modi group, is planning to invest around Rs 270 crore on distribution, retail and other areas as part of its entry into new markets in the country.
The company is also setting up a manufacturing plant with an investment of around Rs 200 crore in Thane, Mumbai. The cigarette manufacturer today launched its Four Square Kings and Four Square Gold brands for the Tamil Nadu market.
On expectations the Union Budget, to be presented early July, will turn out to be quite market friendly, investors are seen picking up stocks with renewed vigour. Action ahead of May series derivatives expiry has also contributed to the surge.
RNRL (Rs 80) can move on to Rs 93 and some strength there can result in a rise to Rs 105 or even higher. On the downside, the stock has good support near Rs 60. Long term investors can hold the stock with a stop loss there.
Simplex Projects has recently bagged some major contracts for construction of bridges over rivers and Automatic Multi-level Car Parking facility from Government of Tripura for construction of bridges over rivers under different packages for an approximate value of Rs 113 crore and from New Okhla Industrial Development Authority for design, construction, operation and maintenance (for a period of 20 years) Multi-level Automatic Car Parking facility at Sector-38, Noida for an approximate value of Rs 93 crore.
With these orders, the total outstanding order book position, including international orders, stands at Rs 3000 crore as on date. These orders are to be executed over the next three years.
MRPL has posted a net profit of Rs 6076.20 million for the quarter ended March 31, 2009 as compared to Rs 2253.30 million for the quarter ended March 31, 2008. Total Income (net of excise) has decreased from Rs 95320.00 million for the quarter ended March 31, 2008 to Rs 66059.50 million for the quarter ended March 31, 2009. The stock is up by over 6% at Rs 69.70 at present.
Sesa Goa (Rs 165) has support at Rs 153 - 155. A breach there can result in a fall to Rs 135 or even lower. On the upside, the stock can rise to Rs 193 where it is likely to face some resistance.
NLC (Rs 133.65) can move on to a new 52-week high shortly. The stock had hit a high of Rs 150.75 in late May 2008. It then tumbled to Rs 44.50 on 27 October that year. One looking for some solid gains over a medium or long term can go in for NLC at current levels.
Before the budget, the market is likely to see some big rallies like the one it is witnessing today. One running in profits would do well to book some at sharp rallies. A re-entry can be made later as some corrective spells are not ruled out in the next couple of weeks.
Gammon Infrastructure Projects Ltd has informed that Rajahmundry Godavari Bridge Ltd, the SPV incorporated for implementing the project for designing, constructing, financing, operating and maintaining a major bridge across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh has achieved the 'Financial Closure' for its project with a consortium of bankers for an aggregate loan amount of upto Rs 566 crores.
The Project, costing Rs 861 crore, is entitled to a Central Government grant of Rs 118.6 crore and a grant of Rs 88.95 crore from the Government of Andhra Pradesh. The Project is on BOT basis for a period of 25 years, including a construction period of 3 years.
Anu's Laboratories Ltd has informed that a meeting of the Board of Directors of the Company will be held on June 03, 2009, to consider the issue of bonus shares and raising of additional funds by way of issue of debt, equity or any other security in one or more tranches as the Board may deem fit. The Board will also consider increasing the authorized capital of the Company.
Cummins India (Rs 269) can move up sharply over a medium run. Investors holding the stock can stay invested and look at buying more at sharp declines. Long term investors can place a stop loss near Rs 150.
One can go in for cement and infrastructure stocks with a medium term plan. Ambuja Cements, Ultratech, ACC, Dalmia Cements, India Cements and Rain Commodities look good. A modest exposure can be tried now and more can be bought at declines. Among infra stocks, GTL Infra, Gammon, IVRCL Infrastructure and GMR look set for a sharp upmove.
Nucleus Software has announced that Bank of Philippine Islands has chosen the company's FinnOne Customer Acquisition System - Corporate SMD module to support loans evaluation and origination process for the bank's small and medium enterprise clients.
Nucleus Software has been chosen for the task considering its expertise in technology focused on the SME sector. The stock has gained over 5% at Rs 91.25 at present.
The Sensex zoomed to 13,943.45 after opening nearly 200 points up at 13,780.41. At 13,932.15, the barometer is up by 342.92 points or 2.52% at present.
The Nifty has vaulted to 4220.60, gaining more than 100 points or 2.44%.
On Tuesday, the Sensex and Nifty had ended lower by 3.35% and 2.85% respectively.
Market Outlook
The market is likely to open with a big positive gap this morning on strong global cues. There may be some profit taking at higher levels, but the undertone is likely to remain fairly upbeat right through the day.
Sector Watch
Power stocks are likely to gain ground. Bank stocks may see some listless trades, but are most likely to trade in the positive zone for a better part of the session. Realty and capital goods stocks will be in focus. Select technology and metal stocks may move up.
Scrip Watch
Cummins India Limited has posted a net profit after tax of Rs 118.18 crore for the quarter ended March 31, 2009 where as the same was at Rs 75.6 crore for the quarter ended March 31, 2008. Total income increased to Rs 1072.16 crore for the quarter ended March 31, 2009 from Rs 716.39 crore it had earned for the quarter ended March 31, 2008. The board of the company has recommended a final dividend of Rs 2.60 per share of Rs 2 each (130%) aggregating to Rs 9 per share of Rs 2 each (450%) for the year ended Match 31 2009.
Tata Communications may move up sharply on strong quarterly numbers. The company has reported a sharp rise in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 5.14 times to Rs 3,023.70 million from Rs 588.60 million in the same quarter last year. The EPS was at 10.61, up by over 5 times year-on-year.
Reliance Power may see action on reports that the company is likely to earn more than Rs 40 billion over the next 10 years by selling carbon credits from its upcoming Sasan power project in Madhya Pradesh.
BHEL, Cairn India, Jindal Steel, NIIT, MRPL, Asahi India, Britannia Industries, Panacea Biotec, Indraprastha Gas, Godrej Industries, Emco and Tamil Nadu Newsprint & Papers will be announcing their results today.
Macro and Market Factors
The strong rally on Wall Street on the back of buoyant consumer confidence data and the resultant surge in Asian markets is likely to bring the bulls back to the ring this morning. Expiry of May series derivatives contracts is not far away and one can expect some hectic short-covering following the huge setback in the previous session.
The bulls, with strong global cued aiding them no end, went on a rampage and guided the market to a buoyant close today. Stocks, with the exception of those from the FMCG space, had a splendid run in the positive territory as buying continued right through the session.
Better-than-expected consumer confidence data from the U.S. and strong stimulus by the Chinese government kept the mood in Asian markets pretty upbeat today.
The Sensex ended at 14,095.97 (provisional) with a thumping gain of 506.74 points or 3.73%. The index, which opened nearly 200 points up today, hit a high of 14,122.78. The Nifty closed at 4274.60, up 157.90 points or 3.84% over its previous close.
Realty, bank, power, metal, capital goods and PSU stocks ended with strong gains. IT, consumer durables, oil, auto and pharma stocks also closed on a high note.
Reliance Infrastructure shot up by nearly 15%. Sterlite, ONGC and DLF gained 8.5% - 9.5%. Grasim and Ranbaxy moved up by over 7%.
ICICI Bank, HDFC Bank, SBI, JP Associates, Tata Motors, L&T, HDFC, RComm, RIL, Infosys, TCS, Tata Steel, Tata Power and M&M closed on a high note.
RPower, Idea Cellular, HCL Tech, Siemens, Reliance Capital, Axis Bank, Nalco, Cairn India, Unitech, Suzlon, GAIL India, RPL, BPCL and Power Grid Corporation finished with strong gains.
Buying has gathered tremendous momentum in late afternoon trade and the Sensex now looks set to end on an upbeat note. The barometer, which zoomed to 14,122.78 on aggressibe buying in blue chips, is up by over 500 points or 3.72% at 14,095.22 now. The Nifty is up 154.50 points or 3.75% at 4271.20.
Reliance Infra, RPower, Idea, Sterlite, ONGC, HCL Tech, DLF, Grasim, Reliance Capital and Ranbaxy have gained 7% - 14.5% now. ICICI Bank, SBI, JP Associates, HDFC Bank, Tata Motors, L&T, BHEL, HDFC, RComm, TCS, Infosys, Tata Steel, Tata Power and M&M are also up with strong gains.
Finance minister Pranab Mukherjee has stated that he will present the full budget for 2009-10 in the first week of July and that reviving growth momentum of the economy will be the top priority for the government but revival would not be at the cost of fiscal prudence.
Mukherjee said the UPA had in its manifesto committed to presenting the budget within 45 days of formation of the government. Keeping that deadline in mind, the budget for 2009-10 will be presented in the first week of July, he said, adding the government would endeavour for the budget to be passed before July 31.
GMR Infrastructure Ltd has informed that GMR Kamalanga Energy Ltd, a subsidiary of the Company achieved financial closure. The GMR Infra stock (up 4.2% at Rs 164) is a good buy at 20 - 30% down from its current levels. Though one can expect some decent gains in the near run, a strong corrective spell is not ruled out.
Godfrey Phillips India Ltd, a flagship company of K K Modi group, is planning to invest around Rs 270 crore on distribution, retail and other areas as part of its entry into new markets in the country.
The company is also setting up a manufacturing plant with an investment of around Rs 200 crore in Thane, Mumbai. The cigarette manufacturer today launched its Four Square Kings and Four Square Gold brands for the Tamil Nadu market.
On expectations the Union Budget, to be presented early July, will turn out to be quite market friendly, investors are seen picking up stocks with renewed vigour. Action ahead of May series derivatives expiry has also contributed to the surge.
RNRL (Rs 80) can move on to Rs 93 and some strength there can result in a rise to Rs 105 or even higher. On the downside, the stock has good support near Rs 60. Long term investors can hold the stock with a stop loss there.
Simplex Projects has recently bagged some major contracts for construction of bridges over rivers and Automatic Multi-level Car Parking facility from Government of Tripura for construction of bridges over rivers under different packages for an approximate value of Rs 113 crore and from New Okhla Industrial Development Authority for design, construction, operation and maintenance (for a period of 20 years) Multi-level Automatic Car Parking facility at Sector-38, Noida for an approximate value of Rs 93 crore.
With these orders, the total outstanding order book position, including international orders, stands at Rs 3000 crore as on date. These orders are to be executed over the next three years.
MRPL has posted a net profit of Rs 6076.20 million for the quarter ended March 31, 2009 as compared to Rs 2253.30 million for the quarter ended March 31, 2008. Total Income (net of excise) has decreased from Rs 95320.00 million for the quarter ended March 31, 2008 to Rs 66059.50 million for the quarter ended March 31, 2009. The stock is up by over 6% at Rs 69.70 at present.
Sesa Goa (Rs 165) has support at Rs 153 - 155. A breach there can result in a fall to Rs 135 or even lower. On the upside, the stock can rise to Rs 193 where it is likely to face some resistance.
NLC (Rs 133.65) can move on to a new 52-week high shortly. The stock had hit a high of Rs 150.75 in late May 2008. It then tumbled to Rs 44.50 on 27 October that year. One looking for some solid gains over a medium or long term can go in for NLC at current levels.
Before the budget, the market is likely to see some big rallies like the one it is witnessing today. One running in profits would do well to book some at sharp rallies. A re-entry can be made later as some corrective spells are not ruled out in the next couple of weeks.
Gammon Infrastructure Projects Ltd has informed that Rajahmundry Godavari Bridge Ltd, the SPV incorporated for implementing the project for designing, constructing, financing, operating and maintaining a major bridge across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh has achieved the 'Financial Closure' for its project with a consortium of bankers for an aggregate loan amount of upto Rs 566 crores.
The Project, costing Rs 861 crore, is entitled to a Central Government grant of Rs 118.6 crore and a grant of Rs 88.95 crore from the Government of Andhra Pradesh. The Project is on BOT basis for a period of 25 years, including a construction period of 3 years.
Anu's Laboratories Ltd has informed that a meeting of the Board of Directors of the Company will be held on June 03, 2009, to consider the issue of bonus shares and raising of additional funds by way of issue of debt, equity or any other security in one or more tranches as the Board may deem fit. The Board will also consider increasing the authorized capital of the Company.
Cummins India (Rs 269) can move up sharply over a medium run. Investors holding the stock can stay invested and look at buying more at sharp declines. Long term investors can place a stop loss near Rs 150.
One can go in for cement and infrastructure stocks with a medium term plan. Ambuja Cements, Ultratech, ACC, Dalmia Cements, India Cements and Rain Commodities look good. A modest exposure can be tried now and more can be bought at declines. Among infra stocks, GTL Infra, Gammon, IVRCL Infrastructure and GMR look set for a sharp upmove.
Nucleus Software has announced that Bank of Philippine Islands has chosen the company's FinnOne Customer Acquisition System - Corporate SMD module to support loans evaluation and origination process for the bank's small and medium enterprise clients.
Nucleus Software has been chosen for the task considering its expertise in technology focused on the SME sector. The stock has gained over 5% at Rs 91.25 at present.
The Sensex zoomed to 13,943.45 after opening nearly 200 points up at 13,780.41. At 13,932.15, the barometer is up by 342.92 points or 2.52% at present.
The Nifty has vaulted to 4220.60, gaining more than 100 points or 2.44%.
On Tuesday, the Sensex and Nifty had ended lower by 3.35% and 2.85% respectively.
Market Outlook
The market is likely to open with a big positive gap this morning on strong global cues. There may be some profit taking at higher levels, but the undertone is likely to remain fairly upbeat right through the day.
Sector Watch
Power stocks are likely to gain ground. Bank stocks may see some listless trades, but are most likely to trade in the positive zone for a better part of the session. Realty and capital goods stocks will be in focus. Select technology and metal stocks may move up.
Scrip Watch
Cummins India Limited has posted a net profit after tax of Rs 118.18 crore for the quarter ended March 31, 2009 where as the same was at Rs 75.6 crore for the quarter ended March 31, 2008. Total income increased to Rs 1072.16 crore for the quarter ended March 31, 2009 from Rs 716.39 crore it had earned for the quarter ended March 31, 2008. The board of the company has recommended a final dividend of Rs 2.60 per share of Rs 2 each (130%) aggregating to Rs 9 per share of Rs 2 each (450%) for the year ended Match 31 2009.
Tata Communications may move up sharply on strong quarterly numbers. The company has reported a sharp rise in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 5.14 times to Rs 3,023.70 million from Rs 588.60 million in the same quarter last year. The EPS was at 10.61, up by over 5 times year-on-year.
Reliance Power may see action on reports that the company is likely to earn more than Rs 40 billion over the next 10 years by selling carbon credits from its upcoming Sasan power project in Madhya Pradesh.
BHEL, Cairn India, Jindal Steel, NIIT, MRPL, Asahi India, Britannia Industries, Panacea Biotec, Indraprastha Gas, Godrej Industries, Emco and Tamil Nadu Newsprint & Papers will be announcing their results today.
Macro and Market Factors
The strong rally on Wall Street on the back of buoyant consumer confidence data and the resultant surge in Asian markets is likely to bring the bulls back to the ring this morning. Expiry of May series derivatives contracts is not far away and one can expect some hectic short-covering following the huge setback in the previous session.
Brokers Recommendations - 27th May 2009
Buy JP Hydro with a target of Rs 120 in 3-4 months, says Rakesh Bhansal of SMC Global, on CNBC Awaaz. The stock is currently trading at Rs 67, up 7.04% on the BSE.
Hold Bharat Bijlee with a target of Rs 950 where one can exit and stop loss of Rs 840, says Rakesh Bhansal of SMC Global, on CNBC Awaaz. The stock is currently trading at Rs 920, up 6.8% on the BSE.
This is a dream market for traders who can buy on dips and sell on any sharp rally, says Sudarshan Sukhani, technical analyst, on CNBC TV18. This is a momentum market and it looks good to go to 4500 on Nifty, he feels. Buy on dips but don't make it long term, he adds.
Positive global cues help our market trade strong and look very good. Sensex is trading at 14087, up 498 points and Nifty is at 4264, up 148 points from the previous close. CNX Midcap index is up 3.01% and BSE Smallcap index is up 3.17%. The market breadth is positive with advances at 1056 against declines of 207 on the NSE.
In the power space, buy NTPC, Power Grid, REC International, ABB and Siemens for long-term gains, says Salil Sharma of Kapoor & Sharma Company on Zee Business.
Buy DLF with a target of Rs 378-390 and stop loss of Rs 348, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 363, up 7.8% on the BSE.
Hold Elecon Engineering with a target of Rs 81-89 and stop loss of Rs 67, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 80, up 9.9% on the BSE.
Buy Idea Cellular with a target of Rs 84-90 and stop loss of Rs 69, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 79, up 13.6% on the BSE.
Hold Praj Industries with a target of Rs 125 in four months, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 103, up 1.7% on the BSE.
Buy IOC with a target of Rs 595-615 and stop loss of Rs 548, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 573, up 1.6% on the BSE.
Hold PTC with a target of Rs 110 in four months where one can exit and keep a stop loss of Rs 78, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 87, up 1.9% on the BSE.
The market is looking good and trading firm. Sensex is trading at 13952, up 363 points and Nifty is at 4218, up 101 points from the previous close. CNX Midcap index is up 2.48% and BSE Smallcap index is up 2.61%. The market breadth is positive with advances at 1068 against declines of 198 on the NSE.
Buy Alok Industries with a target of Rs 28-34 and stop loss of Rs 19, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 23, up 9.6% on the BSE.
Hold DCB with a target of Rs 51 where one can exit and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 40, up 3.6% on the BSE.
Buy Info Edge with a target of Rs 800-825 where one can book partial profits and keep a stop loss of Rs 620, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 675, up 0.01% on the BSE.
Buy GTL Infra with a target of Rs 46-55 and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 41, up 1.09% on the BSE.
Simplex Projects bags two orders worth Rs 206 crore and their total order book stands at Rs 3000 crore, reports NDTV Profit. The stock is currently trading at Rs 91, up 4.99% on the BSE.
Hold RNRL with targets of Rs 90 and then 110, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 80.20, up 3.8% on the BSE.
Go short on L&T with targets of Rs 1250 and then 1210, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 1310, he adds. The stock is currently trading at Rs 1302, up 3.8% on the BSE.
Buy Balrampur Chini at Rs 80-81, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 83.25, down 2.4% on the BSE.
Book profits in Suzlon Energy and buy again on dips at Rs 72-65, says Ashu Kakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 90.15, up 4% on the BSE.
Buy Vijaya Bank at Rs 32 with target of Rs 45, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 37.50, up 2.7% on the BSE.
I expect the markets to be range-bound in absence of any fresh triggers in the short-term, says Devesh Kumar of Centrum Broking on CNBC TV18. Investors should not expect too much from the budget as it may turn out to be a populist one, he adds.
Hold Tata Motors with stop loss of Rs 300, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 350 crossing which it can go to Rs 400 at which levels book profit, he adds. The stock is currently trading at Rs 340.35, up 4.6% on the BSE.
Go short on the Nifty with target of 4100-4075 in 2-3 trading sessions, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of 4255, he adds.
Buy Sesa Goa at Rs 150-160, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. The stock is currently trading at Rs 163.35, up 5.6% on the BSE.
Buy Alok Industries on dips at Rs 18.50-19, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep target of Rs 25-26, he adds. The stock is currently trading at Rs 22.95, up 7.5% on the BSE.
Hold ICICI Bank with target of Rs 850, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 696.70, up 4.5% on the BSE.
Will return to consolidation of fiscal stance in 2-3 years, says Pranab Mukherjee, Indian Finance Minister, reports NDTV Profit. We will address long-pending measures for financial sector and meet banks on benign plan of action, interest rates, he adds. He says that the mandate of the people has provided booster dose to the government.
Buy Sterlite Industries on dips with medium-term target of Rs 690-725, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 582, up 7.8% on the BSE.
We will produce the budget within 45 days, in the first week of July, says Pranab Mukherjee, Indian Finance Minister, in his first press conference after taking over as FM in the new Government, reports NDTV Profit. We will try to complete the budget process by July 31, he adds. The top-most priority is to revive growth momentum, he says.
Buy Unitech on dips with stop loss of Rs 68, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 75.50, up 3.7% on the BSE.
Hold GMR Infra with target of Rs 210, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 140, he adds. The stock is currently trading at Rs 163.20, up 3.7% on the BSE.
Buy DLF at Rs 315-320 with target of Rs 375-380, says Ashwani Gujral, technical analyst, on CNBC TV. The stock is currently trading at Rs 357.60, up 6.1% on the BSE.
Hold AIA Engineering with stop loss of Rs 200, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 235 crossing which it can go to Rs 250 at which levels book profit, he adds. The stock is currently trading at Rs 224.80, up 4.7% on the BSE.
Buy DLF with target of Rs 395-400, says Salil Sharma, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 320, he adds. The stock is currently trading at Rs 355.50, up 5.5% on the BSE.
Buy Bombay Dyeing on dips at Rs 230-235, says Ashwani Gujral, technical analyst, on CNBC TV18. It has resistance at Rs 355, he adds. The stock is currently trading at Rs 313, up 7.9% on the BSE
Buy NTPC with targets of Rs 215 and then 230, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 201.70, up 0.2% on the BSE.
Hold Aban Offshore with stop loss of Rs 800, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 900 crossing which it can go to Rs 1050 at which levels book profit, he adds. The stock is currently trading at Rs 881, up 3.2% on the BSE.
Buy Dish TV with stop loss of Rs 42, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 47.30, up 3.7% on the BSE.
Buy Neyveli Lignite with intra-day target of Rs 140, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 128, he adds. The stock is currently trading at Rs 135, up 3.1% on the BSE.
Buy Hindalco with intra-day target of Rs 84-87, says Rajat Bose, technical analyst, on CNBC Awaaz. Medium-term target is Rs 115-120, he adds. The stock is currently trading at Rs 83.50, up 4.5% on the BSE.
Buy Escorts with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 55, he adds. The stock is currently trading at Rs 61.80, up 5.3% on the BSE.
Buy Uttam Galva with intra-day target of Rs 47, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 41.50, he adds. The stock is currently trading at Rs 45.65, up 5.4% on the BSE.
Buy Infosys at Rs 1548 with target of Rs 1570, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1530, she adds. The stock is at Rs 1543.20, up 2.3% on the BSE.
Buy Bharti Airtel at Rs 771 with target of Rs 797, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 760, she adds. The stock is at Rs 770.40, down 5.1% on the BSE.
Hold Bharat Bijlee with a target of Rs 950 where one can exit and stop loss of Rs 840, says Rakesh Bhansal of SMC Global, on CNBC Awaaz. The stock is currently trading at Rs 920, up 6.8% on the BSE.
This is a dream market for traders who can buy on dips and sell on any sharp rally, says Sudarshan Sukhani, technical analyst, on CNBC TV18. This is a momentum market and it looks good to go to 4500 on Nifty, he feels. Buy on dips but don't make it long term, he adds.
Positive global cues help our market trade strong and look very good. Sensex is trading at 14087, up 498 points and Nifty is at 4264, up 148 points from the previous close. CNX Midcap index is up 3.01% and BSE Smallcap index is up 3.17%. The market breadth is positive with advances at 1056 against declines of 207 on the NSE.
In the power space, buy NTPC, Power Grid, REC International, ABB and Siemens for long-term gains, says Salil Sharma of Kapoor & Sharma Company on Zee Business.
Buy DLF with a target of Rs 378-390 and stop loss of Rs 348, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 363, up 7.8% on the BSE.
Hold Elecon Engineering with a target of Rs 81-89 and stop loss of Rs 67, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 80, up 9.9% on the BSE.
Buy Idea Cellular with a target of Rs 84-90 and stop loss of Rs 69, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 79, up 13.6% on the BSE.
Hold Praj Industries with a target of Rs 125 in four months, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 103, up 1.7% on the BSE.
Buy IOC with a target of Rs 595-615 and stop loss of Rs 548, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 573, up 1.6% on the BSE.
Hold PTC with a target of Rs 110 in four months where one can exit and keep a stop loss of Rs 78, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 87, up 1.9% on the BSE.
The market is looking good and trading firm. Sensex is trading at 13952, up 363 points and Nifty is at 4218, up 101 points from the previous close. CNX Midcap index is up 2.48% and BSE Smallcap index is up 2.61%. The market breadth is positive with advances at 1068 against declines of 198 on the NSE.
Buy Alok Industries with a target of Rs 28-34 and stop loss of Rs 19, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 23, up 9.6% on the BSE.
Hold DCB with a target of Rs 51 where one can exit and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 40, up 3.6% on the BSE.
Buy Info Edge with a target of Rs 800-825 where one can book partial profits and keep a stop loss of Rs 620, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 675, up 0.01% on the BSE.
Buy GTL Infra with a target of Rs 46-55 and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 41, up 1.09% on the BSE.
Simplex Projects bags two orders worth Rs 206 crore and their total order book stands at Rs 3000 crore, reports NDTV Profit. The stock is currently trading at Rs 91, up 4.99% on the BSE.
Hold RNRL with targets of Rs 90 and then 110, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 80.20, up 3.8% on the BSE.
Go short on L&T with targets of Rs 1250 and then 1210, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 1310, he adds. The stock is currently trading at Rs 1302, up 3.8% on the BSE.
Buy Balrampur Chini at Rs 80-81, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 83.25, down 2.4% on the BSE.
Book profits in Suzlon Energy and buy again on dips at Rs 72-65, says Ashu Kakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 90.15, up 4% on the BSE.
Buy Vijaya Bank at Rs 32 with target of Rs 45, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 37.50, up 2.7% on the BSE.
I expect the markets to be range-bound in absence of any fresh triggers in the short-term, says Devesh Kumar of Centrum Broking on CNBC TV18. Investors should not expect too much from the budget as it may turn out to be a populist one, he adds.
Hold Tata Motors with stop loss of Rs 300, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 350 crossing which it can go to Rs 400 at which levels book profit, he adds. The stock is currently trading at Rs 340.35, up 4.6% on the BSE.
Go short on the Nifty with target of 4100-4075 in 2-3 trading sessions, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of 4255, he adds.
Buy Sesa Goa at Rs 150-160, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. The stock is currently trading at Rs 163.35, up 5.6% on the BSE.
Buy Alok Industries on dips at Rs 18.50-19, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep target of Rs 25-26, he adds. The stock is currently trading at Rs 22.95, up 7.5% on the BSE.
Hold ICICI Bank with target of Rs 850, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 696.70, up 4.5% on the BSE.
Will return to consolidation of fiscal stance in 2-3 years, says Pranab Mukherjee, Indian Finance Minister, reports NDTV Profit. We will address long-pending measures for financial sector and meet banks on benign plan of action, interest rates, he adds. He says that the mandate of the people has provided booster dose to the government.
Buy Sterlite Industries on dips with medium-term target of Rs 690-725, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 582, up 7.8% on the BSE.
We will produce the budget within 45 days, in the first week of July, says Pranab Mukherjee, Indian Finance Minister, in his first press conference after taking over as FM in the new Government, reports NDTV Profit. We will try to complete the budget process by July 31, he adds. The top-most priority is to revive growth momentum, he says.
Buy Unitech on dips with stop loss of Rs 68, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 75.50, up 3.7% on the BSE.
Hold GMR Infra with target of Rs 210, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 140, he adds. The stock is currently trading at Rs 163.20, up 3.7% on the BSE.
Buy DLF at Rs 315-320 with target of Rs 375-380, says Ashwani Gujral, technical analyst, on CNBC TV. The stock is currently trading at Rs 357.60, up 6.1% on the BSE.
Hold AIA Engineering with stop loss of Rs 200, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 235 crossing which it can go to Rs 250 at which levels book profit, he adds. The stock is currently trading at Rs 224.80, up 4.7% on the BSE.
Buy DLF with target of Rs 395-400, says Salil Sharma, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 320, he adds. The stock is currently trading at Rs 355.50, up 5.5% on the BSE.
Buy Bombay Dyeing on dips at Rs 230-235, says Ashwani Gujral, technical analyst, on CNBC TV18. It has resistance at Rs 355, he adds. The stock is currently trading at Rs 313, up 7.9% on the BSE
Buy NTPC with targets of Rs 215 and then 230, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 201.70, up 0.2% on the BSE.
Hold Aban Offshore with stop loss of Rs 800, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 900 crossing which it can go to Rs 1050 at which levels book profit, he adds. The stock is currently trading at Rs 881, up 3.2% on the BSE.
Buy Dish TV with stop loss of Rs 42, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 47.30, up 3.7% on the BSE.
Buy Neyveli Lignite with intra-day target of Rs 140, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 128, he adds. The stock is currently trading at Rs 135, up 3.1% on the BSE.
Buy Hindalco with intra-day target of Rs 84-87, says Rajat Bose, technical analyst, on CNBC Awaaz. Medium-term target is Rs 115-120, he adds. The stock is currently trading at Rs 83.50, up 4.5% on the BSE.
Buy Escorts with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 55, he adds. The stock is currently trading at Rs 61.80, up 5.3% on the BSE.
Buy Uttam Galva with intra-day target of Rs 47, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 41.50, he adds. The stock is currently trading at Rs 45.65, up 5.4% on the BSE.
Buy Infosys at Rs 1548 with target of Rs 1570, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1530, she adds. The stock is at Rs 1543.20, up 2.3% on the BSE.
Buy Bharti Airtel at Rs 771 with target of Rs 797, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 760, she adds. The stock is at Rs 770.40, down 5.1% on the BSE.
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