Buy HPCL with a target of Rs 325 and stop loss of Rs 290, says Raj Kishore Bank, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 305, up 1.14% on the BSE.
Sell Ultratech Cements with a target of Rs 620 and stop loss of Rs 700, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 656, down 1.99% on the BSE.
Buy Nifty 4300 June puts and sell 4100 puts, says Nitin Muraka of SMC Global Securities on Zee Business, as closing market strategy.
Buy Nifty with stop loss of 4225 and target of 4350, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Hold Nifty short positions with stop loss of 4325 and target of 4200, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy.
Buy Sesa Goa June futures with a target of Rs 214 and stop loss of Rs 242, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 189, up 0.96% on the BSE.
Buy Jay Shree Tea with a target of Rs 210 and stop loss of Rs 170, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 200, down 2.88% on the BSE.
Buy Bank of Baroda June futures with a target of Rs 490-510 and stop loss of Rs 242, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 440, up 1.45% on the BSE.
In an F&O call, buy Nifty June futures with a target of 4325 and stop loss of 4210, says Nishant Jain of Tradeswift, on CNBC Awaaz.
In an F&O call, buy Nifty June futures with a target of 4300 and stop loss of 4225, says Hemen Kapadia, technical analyst, on CNBC Awaaz.
In an F&O call, sell Nifty futures with a target of 4220 and stop loss of 4280, says Salil Sharma of Kapoor & Sharma Company, on CNBC Awaaz. He suggests shorting Nifty if it crosses 4260.
Buy Bajaj Hindustan with a target of Rs 235 and stop loss of Rs 192, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 213, down 0.51% on the BSE.
Hold Central Bank with a target of Rs 100-125 where one can book part profits, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 86, up 1.29% on the BSE.
Sell Tata Steel with a target of Rs 380 and stop loss of Rs 430, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 407, down 1.22% on the BSE.
BHEL has bagged an order of Rs 105 crore for captive power plant, reports NDTV Profit. The stock is currently trading at Rs 2099, up 0.45% on the BSE.
Buy ICICI Bank with a target of Rs 800 and stop loss of Rs 700, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 733, up 2.81% on the BSE.
SMC Global Securities maintains a buy call on Infosys with a target of Rs 1950 and stop loss of Rs 1670, reports CNBC Awaaz. The stock is currently trading at Rs 1759, down 0.63% on the BSE.
Hold Renuka Sugar with a stop loss of Rs 124, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 130, down 2.68% on the BSE.
Jindal Saw has bagged an order of Rs 1000 crore, reports Zee Business. The stock is currently trading at Rs 382, up 4.6% on the BSE.
If Nifty breaks 4650 decisively, meaning holds that level for a week or so, the market could challenge the old highs of Nifty 6100, says Rakesh Jhunjhunwala, market expert, on CNBC TV18. Market unlikely to breach 4000 Nifty level in 6-9 months, he adds.
Hold Ashok Leyland because there is still some upside left in it, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 28 and resistance at Rs 38, he adds. The stock is currently trading at Rs 30.30, down 1.5% on the BSE.
Buy Ispat Industries at Rs 20 with short-term target of Rs 30, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 22.75, down 0.4% on the BSE
Buy Voltas with target of Rs 144, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 126, up 4.8% on the BSE.
There is a chance that the global counter trend rally may be over, says Chris Wood of CLSA on CNBC TV18. However, he would still not bet aggressively on this view in terms of shorting the market and base case S&P 500 target of 1000-1050 remains intact. Even if Asian equities head higher over the next two months, any subsequent correction will bring them lower than current levels, he adds.
Buy SAIL at Rs 135-145 with long-term target of Rs 250, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 152.50, up 0.10% on the BSE.
Hold ICICI Bank with target of Rs 900 in two months, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 684 and resistance at Rs 795, he adds. The stock is currently trading at Rs 739.10, up 3.6% on the BSE.
Hold GMR Infra with short-term target of Rs 185, says Prasad Kushe, technical analyst, on CNBC Awaaz. Long-term investors can hold with target of Rs 250, he adds. The stock is currently trading at Rs 145.40, down 0.9% on the BSE.
Buy RIL at Rs 1860 with target of Rs 2600-2700 in 3-4 months, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1998.10, down 2% on the BSE.
Buy Bharti Airtel on dips with long-term view, says Gaurang Shah of Geojit BNP Paribas on CNBC Awaaz. The stock is currently trading at Rs 807, up 0.2% on the BSE.
Hold SBI with target of Rs 1850, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has support at Rs 1600, he adds. The stock is currently trading at Rs 1731.95, up 0.8% on the BSE.
Hold Tata Steel with short-term target of Rs 500, says Prasad Kushe, technical analyst, on CNBC Awaaz. Buy again at Rs 375 and then hold with long-term target of Rs 600, he adds. The stock is currently trading at Rs 418.20, up 1.6% on the BSE.
Hold JSW Steel and buy more on dips, says Rajesh Tambe of Sunchan Securities on Zee Business. The international and domestic news on the steel sector are encouraging, he adds. The stock is currently trading at Rs 631.90, up 4.4% on the BSE.
Hold KS Oil with stop loss of Rs 55, says Pankaj Jain of Satguru Capital on Zee Business. It has resistance at Rs 63 crossing which it can go up to Rs 70 at which level exit, he adds. The stock is currently trading at Rs 59.65, down 1% on the BSE.
Hold Tata Tea with target of Rs 850-925 in 12-18 months, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 735.55, up 1% on the BSE.
Hold JSW Steel with target of Rs 675, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 633, up 4.6 on the BSE.
Buy Patni Computers with target of Rs 275-280, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 225, he adds. The stock is currently trading at Rs 256.80, up 6.1% on the BSE.
Invest in Kalindee Rail for long term, says Daljeet Kohli of Emkay Shares and Stock Brokers on CNBC Awaaz. Fundamentals of this company are good, he adds. The stock is currently trading at Rs 199.20, up 7.1% on the BSE.
Buy Punj Lloyd with target of Rs 220-225, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 164, he adds. The stock is currently trading at Rs 202, up 3.7% on the BSE.
Hold Tech Mahindra for long term with target of Rs 1000 plus, says Pankaj Jain of Satguru Capital on Zee Business. The stock is currently trading at Rs 769, up 1.1% on the BSE.
Buy SBI with target of Rs 1765, says Devangshu Dutta, market expert, on CNBC TV18. Keep stop loss of Rs 1700, he adds. The stock is currently trading at Rs 1756, up 2% on the BSE.
Hold Gateway Distriparks with target of Rs 120, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 100.75, down 0.2% on the BSE.
Buy HPCL with intra-day target of Rs 310, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 300, he adds. The stock is currently trading at Rs 302, up 0.1% on the BSE.
Sell Mahindra & Mahindra at Rs 732 with target of Rs 721, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 745, she adds. The stock is currently trading at Rs 729, down 1.1% on the BSE.
Buy Reliance Communications with intra-day target of Rs 325 says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of 303, he adds. The stock is currently trading at Rs 315,up 3.2% on the BSE.
Buy Bank of Rajasthan with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 59, he adds. The stock is currently trading at Rs 62.05, up 4.2% on the BSE.
Buy JSW Steel at Rs 610 with target of Rs 625, Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 600, she adds. The stock is at Rs 611.95, up 1.1% on the BSE.
Buy HDFC at Rs 2291 with target of Rs 2330, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 2270, she adds. The stock is at Rs 2294.70, up 1% on the BSE.
Showing posts with label Learn BSE analysis. Show all posts
Showing posts with label Learn BSE analysis. Show all posts
Monday, June 22, 2009
Thursday, June 11, 2009
Brokerage Recommendations 11th June 2009
Buy Tulip Telecom on dips, says Harit Shah of Angel Broking on CNBC TV18. The company will grow at robust pace giving good returns, he adds. The stock is at Rs 774.60, up 11.7% on the BSE.
Buy auto sector stocks but on dips, says DD Sharma of Anand Rathi Securities on Zee Business. Long-term outlook on these stocks is good, he adds.
Buy Voltas at Rs 100-120, says Sandeep Jain of Tradeswift on CNBC Awaaz. Keep target of Rs 185-200 in two years, he adds. The stock is at Rs 139.30, down 0.1% on the BSE.
Hold Aurobindo Pharma with target of Rs 550, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. Keep stop loss of Rs 450, he adds. The stock is at Rs 480.55, up 4.8% on the BSE.
Buy SBI at Rs 1600-1620, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is at Rs 1691, down 3.7% on the BSE.
Buy Sterlite Industries with target of Rs 750, says Ashwani Gujral, technical analyst, on CNBC TV18, as market closing strategy. Keep stop loss of Rs 675, he adds. The stock is currently trading at Rs 704, up 6.1% on the BSE.
Buy Ambuja Cements at Rs 88-90, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. Traders can look for returns of Rs 6-8, he adds. The stock is currently trading at Rs 99.10, down 4.4% on the BSE.
Buy IDFC with targets of Rs 148 and 158, says Sanjeev Agarwal of Dynamic Research on CNBC Awaaz. Keep stop loss of Rs 138, he adds. The stock is currently trading at Rs 144.70, up 5% on the BSE.
Hold Mercator Lines with targets of Rs 80 and then 100, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. Keep stop loss of Rs 60, he adds. The stock is currently trading at Rs 68.25, up 2.6% on the BSE.
Few minutes before close, the market is showing volatility and trading flat. Europe which opened weak is now showing strength. Sensex is trading at 15414, down 52 points from its previous close, and Nifty is at 4643, down 11 points. CNX Midcap index is down 0.4% and BSE Smallcap index is down 0.8%. The market breadth is negative with advances at 436 against declines of 822 on the NSE.
Buy L&T on dips, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1632, up 0.1% on the BSE.
Hold Gateway Distriparks with target of Rs 110 and above, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. Keep stop loss of Rs 80, he adds. The stock is currently trading at Rs 101.20, up 10.4% on the BSE.
Buy Bartronics India with target of Rs 235, says Harit Shah of Angel Broking on CNBC TV18. It has good future and will give an upside of 45% from current levels, he adds. The stock is currently trading at Rs 164.60, up 2.5% on the BSE.
Buy Everonn Systems on dips but for long term, says Gaurang Shah of Geojit BNP Paribas on Zee Business. The stock is currently trading at Rs 431, down 3.7% on the BSE.
Buy HDFC Bank for 20-30% returns in the coming months, says Vijay Kumar of Unicon Financials on NDTV Profit. The stock is currently trading at Rs 1554, up 4% on the BSE.
Buy Unitech with targets of Rs 93 and then 100, says Sanjeev Agarwal of Dynamic Research on CNBC Awaaz. Keep stop loss of Rs 85, he adds. The stock is currently trading at Rs 87.45, down 1.6% on the BSE.
Book profits in Tata Power at its resistance level of Rs 1350, says Ashu Kakkar, technical analyst, on NDTV Profit. Buy again at Rs 800-900, he adds. The stock is currently trading at Rs 1196.90, down 1.4% on the BSE.
Avoid investment in Britannia Industries because it is a highly-priced stock, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 1600, down 0.2% on the BSE.
Hold Cairn India with target of Rs 285-300, says PK Agarwal of Purpleline Investment on Zee Business. Keep stop loss of Rs 220, he adds. The stock is currently trading at Rs 258, down 0.3% on the BSE.
Hold ACC with target of Rs 1050, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 850, he adds. The stock is currently trading at Rs 864, down 3.7% on the BSE.
Hold IndusInd Bank with targets of Rs 79 and then 95, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 76.45, down 0.9% on the BSE.
Book profits in Central Bank of India, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 78, down 0.8% on the BSE.
Hold Indiabulls Financial with target of Rs 320, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 183.90, up 1.9% on the BSE.
Hold Lanco Infratech with target of Rs 525, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 422.40, down 4.8% on the BSE.
Hold Neyveli Lignite with target of Rs 150, says PK Agarwal of Purpleline Investment on Zee Business. It has support at Rs 120, he adds. The stock is currently trading at Rs 131.75, down 2.4% on the BSE.
Exit Tata Power and instead invest in BHEL, Siemens, says Vijay Kumar of Unicon Financials on NDTV Profit. The stock is currently trading at Rs 1197.50, down 1.3% on the BSE.
Short Reliance Capital with target of Rs 965, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 995, he adds. The stock is currently trading at Rs 983, down 2% on the BSE.
Buy Aban Offshore only on deep correction in the market, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1013.05, down 6.7% on the BSE.
Hold TV18 and book profits on rally at Rs 186, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 129, he adds. The stock is currently trading at Rs 146.80, down 0.5% on the BSE.
Buy Emco with targets of Rs 110 and then 132, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 70, he adds. The stock is currently trading at Rs 84, down 1.2% on the BSE.
Hold Satyam with target of Rs 115, says PK Agarwal of Purpleline Investment on Zee Business. Keep trailing stop loss of Rs 75, he adds. The stock is currently trading at Rs 80.85, up 10% on the BSE.
Hold Gail with medium-term target of Rs 350, says Ashu Kakkar, technical analyst, on NDTV Profit. It has support at Rs 250, he adds. The stock is currently trading at Rs 290, down 1.3% on the BSE.
Stay away from the metal sector, says VK Sharma of Anagram Stock Broking on CNBC Awaaz. One can, however, invest in zinc stocks, especially Hindustan Zinc, he adds. The stock is currently trading at Rs 617.95, down 0.9% on the BSE.
Hold Prithvi Info with target of Rs 100, says MB Singh, technical analyst, on Zee Business. Buy more when it comes to Rs 60, he adds. The stock is currently trading at Rs 75, up 2.8% on the BSE.
Hold ONGC with target of Rs 1260-1270, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1050, he adds. The stock is currently trading at Rs 1135, down 2.5% on the BSE.
Hold HDFC Bank with target of Rs 1555, says Salil Sharma of Kapoor & Sharma Company, on CNBC Awaaz. The stock is currently trading at Rs 1547, up 3.5% on the BSE.
Sell Aban Offshore with intra-day target of Rs 1000, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1100, he adds. The stock is currently trading at Rs 1038.80, down 4.3% on the BSE.
Stay in the market with a trailing stop loss and take out profits in any momentum, says Daljeet Kohli of Emkay Shares and Stock Brokers on CNBC Awaaz. This strategy will help minimise losses, he adds.
Hold Kotak Mahindra with target of Rs 800, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 711.60, down 1.5% on the BSE.
Buy Bata India with intra-day target of Rs 189, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 159, he adds. The stock is currently trading at Rs 176.60, up 8.3% on the BSE.
Hold Satyam with target of Rs 85, says Rahul Mohinder, technical analyst, on CNBC Awaaz. But do not make fresh entry at the moment, he advises. The stock is currently trading at Rs 80.85, up 10% on the BSE.
Hold IVRCL Infra with target of Rs 425 and it has support at Rs 335, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 368, down 3.6% on the BSE.
Buy Adlabs Films on dips only for long term, says MB Singh, technical analyst, on Zee Business. Keep target of Rs 550, he adds. The stock is currently trading at Rs 409, down 1.5% on the BSE.
Hold Reliance Infrastructure with target of Rs 1400 in 3-4 weeks, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1205, down 1.08% on the BSE.
Buy Ranbaxy at Rs 295 with target of Rs 306, says VK Sharma of Anagram Stock Broking on NDTV Profit. Keep stop loss of Rs 285, he adds. The stock is currently trading at Rs 300, up 0.6% on the BSE.
Buy HCL Technologies with target of Rs 240, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 175, he adds. The stock is currently trading at Rs 197, down 3.6% on the BSE.
The market could rally till budget as fund flows are keeping the market higher, says TS Harihar of ICICI Securities, on NDTV Profit. Valuations are being overlooked and flow of liquidity determining the rally, he says. He is bullish on Cairn India and GAIL.
Buy Reliance Communications at Rs 350 with target of Rs 365, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 343, she adds.
Buy Essar Oil with intra-day target of Rs 185, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 173.50, he adds.
Buy Kotak Mahindra Bank at Rs 723 with target of Rs 737, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 715, she adds.
Buy auto sector stocks but on dips, says DD Sharma of Anand Rathi Securities on Zee Business. Long-term outlook on these stocks is good, he adds.
Buy Voltas at Rs 100-120, says Sandeep Jain of Tradeswift on CNBC Awaaz. Keep target of Rs 185-200 in two years, he adds. The stock is at Rs 139.30, down 0.1% on the BSE.
Hold Aurobindo Pharma with target of Rs 550, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. Keep stop loss of Rs 450, he adds. The stock is at Rs 480.55, up 4.8% on the BSE.
Buy SBI at Rs 1600-1620, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is at Rs 1691, down 3.7% on the BSE.
Buy Sterlite Industries with target of Rs 750, says Ashwani Gujral, technical analyst, on CNBC TV18, as market closing strategy. Keep stop loss of Rs 675, he adds. The stock is currently trading at Rs 704, up 6.1% on the BSE.
Buy Ambuja Cements at Rs 88-90, says Ambareesh Baliga of Karvy Stock Broking on CNBC TV18. Traders can look for returns of Rs 6-8, he adds. The stock is currently trading at Rs 99.10, down 4.4% on the BSE.
Buy IDFC with targets of Rs 148 and 158, says Sanjeev Agarwal of Dynamic Research on CNBC Awaaz. Keep stop loss of Rs 138, he adds. The stock is currently trading at Rs 144.70, up 5% on the BSE.
Hold Mercator Lines with targets of Rs 80 and then 100, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. Keep stop loss of Rs 60, he adds. The stock is currently trading at Rs 68.25, up 2.6% on the BSE.
Few minutes before close, the market is showing volatility and trading flat. Europe which opened weak is now showing strength. Sensex is trading at 15414, down 52 points from its previous close, and Nifty is at 4643, down 11 points. CNX Midcap index is down 0.4% and BSE Smallcap index is down 0.8%. The market breadth is negative with advances at 436 against declines of 822 on the NSE.
Buy L&T on dips, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1632, up 0.1% on the BSE.
Hold Gateway Distriparks with target of Rs 110 and above, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. Keep stop loss of Rs 80, he adds. The stock is currently trading at Rs 101.20, up 10.4% on the BSE.
Buy Bartronics India with target of Rs 235, says Harit Shah of Angel Broking on CNBC TV18. It has good future and will give an upside of 45% from current levels, he adds. The stock is currently trading at Rs 164.60, up 2.5% on the BSE.
Buy Everonn Systems on dips but for long term, says Gaurang Shah of Geojit BNP Paribas on Zee Business. The stock is currently trading at Rs 431, down 3.7% on the BSE.
Buy HDFC Bank for 20-30% returns in the coming months, says Vijay Kumar of Unicon Financials on NDTV Profit. The stock is currently trading at Rs 1554, up 4% on the BSE.
Buy Unitech with targets of Rs 93 and then 100, says Sanjeev Agarwal of Dynamic Research on CNBC Awaaz. Keep stop loss of Rs 85, he adds. The stock is currently trading at Rs 87.45, down 1.6% on the BSE.
Book profits in Tata Power at its resistance level of Rs 1350, says Ashu Kakkar, technical analyst, on NDTV Profit. Buy again at Rs 800-900, he adds. The stock is currently trading at Rs 1196.90, down 1.4% on the BSE.
Avoid investment in Britannia Industries because it is a highly-priced stock, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 1600, down 0.2% on the BSE.
Hold Cairn India with target of Rs 285-300, says PK Agarwal of Purpleline Investment on Zee Business. Keep stop loss of Rs 220, he adds. The stock is currently trading at Rs 258, down 0.3% on the BSE.
Hold ACC with target of Rs 1050, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 850, he adds. The stock is currently trading at Rs 864, down 3.7% on the BSE.
Hold IndusInd Bank with targets of Rs 79 and then 95, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 76.45, down 0.9% on the BSE.
Book profits in Central Bank of India, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 78, down 0.8% on the BSE.
Hold Indiabulls Financial with target of Rs 320, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 183.90, up 1.9% on the BSE.
Hold Lanco Infratech with target of Rs 525, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 422.40, down 4.8% on the BSE.
Hold Neyveli Lignite with target of Rs 150, says PK Agarwal of Purpleline Investment on Zee Business. It has support at Rs 120, he adds. The stock is currently trading at Rs 131.75, down 2.4% on the BSE.
Exit Tata Power and instead invest in BHEL, Siemens, says Vijay Kumar of Unicon Financials on NDTV Profit. The stock is currently trading at Rs 1197.50, down 1.3% on the BSE.
Short Reliance Capital with target of Rs 965, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 995, he adds. The stock is currently trading at Rs 983, down 2% on the BSE.
Buy Aban Offshore only on deep correction in the market, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1013.05, down 6.7% on the BSE.
Hold TV18 and book profits on rally at Rs 186, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 129, he adds. The stock is currently trading at Rs 146.80, down 0.5% on the BSE.
Buy Emco with targets of Rs 110 and then 132, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 70, he adds. The stock is currently trading at Rs 84, down 1.2% on the BSE.
Hold Satyam with target of Rs 115, says PK Agarwal of Purpleline Investment on Zee Business. Keep trailing stop loss of Rs 75, he adds. The stock is currently trading at Rs 80.85, up 10% on the BSE.
Hold Gail with medium-term target of Rs 350, says Ashu Kakkar, technical analyst, on NDTV Profit. It has support at Rs 250, he adds. The stock is currently trading at Rs 290, down 1.3% on the BSE.
Stay away from the metal sector, says VK Sharma of Anagram Stock Broking on CNBC Awaaz. One can, however, invest in zinc stocks, especially Hindustan Zinc, he adds. The stock is currently trading at Rs 617.95, down 0.9% on the BSE.
Hold Prithvi Info with target of Rs 100, says MB Singh, technical analyst, on Zee Business. Buy more when it comes to Rs 60, he adds. The stock is currently trading at Rs 75, up 2.8% on the BSE.
Hold ONGC with target of Rs 1260-1270, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1050, he adds. The stock is currently trading at Rs 1135, down 2.5% on the BSE.
Hold HDFC Bank with target of Rs 1555, says Salil Sharma of Kapoor & Sharma Company, on CNBC Awaaz. The stock is currently trading at Rs 1547, up 3.5% on the BSE.
Sell Aban Offshore with intra-day target of Rs 1000, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1100, he adds. The stock is currently trading at Rs 1038.80, down 4.3% on the BSE.
Stay in the market with a trailing stop loss and take out profits in any momentum, says Daljeet Kohli of Emkay Shares and Stock Brokers on CNBC Awaaz. This strategy will help minimise losses, he adds.
Hold Kotak Mahindra with target of Rs 800, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 711.60, down 1.5% on the BSE.
Buy Bata India with intra-day target of Rs 189, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 159, he adds. The stock is currently trading at Rs 176.60, up 8.3% on the BSE.
Hold Satyam with target of Rs 85, says Rahul Mohinder, technical analyst, on CNBC Awaaz. But do not make fresh entry at the moment, he advises. The stock is currently trading at Rs 80.85, up 10% on the BSE.
Hold IVRCL Infra with target of Rs 425 and it has support at Rs 335, says Ashwani Gujral, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 368, down 3.6% on the BSE.
Buy Adlabs Films on dips only for long term, says MB Singh, technical analyst, on Zee Business. Keep target of Rs 550, he adds. The stock is currently trading at Rs 409, down 1.5% on the BSE.
Hold Reliance Infrastructure with target of Rs 1400 in 3-4 weeks, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1205, down 1.08% on the BSE.
Buy Ranbaxy at Rs 295 with target of Rs 306, says VK Sharma of Anagram Stock Broking on NDTV Profit. Keep stop loss of Rs 285, he adds. The stock is currently trading at Rs 300, up 0.6% on the BSE.
Buy HCL Technologies with target of Rs 240, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 175, he adds. The stock is currently trading at Rs 197, down 3.6% on the BSE.
The market could rally till budget as fund flows are keeping the market higher, says TS Harihar of ICICI Securities, on NDTV Profit. Valuations are being overlooked and flow of liquidity determining the rally, he says. He is bullish on Cairn India and GAIL.
Buy Reliance Communications at Rs 350 with target of Rs 365, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 343, she adds.
Buy Essar Oil with intra-day target of Rs 185, says Anil Singhvi, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 173.50, he adds.
Buy Kotak Mahindra Bank at Rs 723 with target of Rs 737, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 715, she adds.
Sunday, June 7, 2009
1 - 5th June 2009 Week Review
Key benchmark indices surged to multi-month highs, extending gains for the thirteen straight week in anticipation of a strong push for economic reforms by the newly-elected United Progressive Alliance (UPA) government. The barometer index BSE Sensex raced past the psychological 15,000 mark. Besides strong inflow from foreign funds, positive global cues and further signs of recovery in domestic and global economy boosted the sentiment further. Strong buying momentum was seen in small and mid-cap stocks
There are signs of recovery in the Indian economy. Manufacturing activity in India expanded for a second straight month in May 2009 to its highest in eight months, a survey showed, reflecting a revival in domestic demand but export orders remained weak. The Market Purchasing Managers' Index (PMI) based on a survey of 500 companies, rose to 55.7 in May 2009 from April's 53.3, well above the threshold of 50 that separates expansion from contraction.
The manufacturing index was boosted mainly by the new orders index, which rose to 59.1 in May 2009 from 54.9 in April 2009. Manufacturing makes up about 15% of India's gross domestic product. Although domestic demand improved, the pricing power of manufacturers was hurt by intense competition, while higher commodity prices also pushed up input prices, Market economist Gemma Wallace said.
President Pratibha Patil addressed to a joint session of both houses on 4 June 2009 formally disclosing the agenda of the UPA coalition government. She said that the government would aim to revive economic growth with higher investments in sectors such as infrastructure, while adhering to fiscal prudence. Patil said steps would be taken to encourage foreign investment inflows, list shares of state-run firms and infuse more capital in banks. The government's immediate priority must be to focus on management of the economy that will counter the effect of the global slowdown, she added.
Patil said the new regime will develop a roadmap for listing public sector units, co-ordinate with other countries to bring back illegal money stashed in secret bank accounts, recapitalise public sector banks, and bring in the pension reforms bill.
On the economic front, the government's immediate focus would be on sectors that are adversely hit, especially small and medium enterprises, exports, textiles, commercial vehicles, infrastructure and housing.
Hopes of market friendly measures propelled key benchmark indices in the week ended Friday, 5 June 2009. The BSE Sensex advance 478.30 points or 3.27% to 15,103.5512, its highest closing since 12 August 2008. The S&P CNX Nifty gained 137.95 points or 3.1% to 4586.90 its highest closing since 11 August 2009.
The BSE Mid-Cap index gained 353.04 points or 6.98% to 5,409.78 and the BSE Small-Cap index advanced 471.83 points or 7.88% to 6,458.65 in the week ended Friday, 5 June 2009. Both these indices outperformed the Sensex
Trading for the week started on an upbeat note with markets advancing on Monday, 1 June 2009 in anticipation of a strong push for economic reforms by the newly-elected United Progressive Alliance (UPA) government. The BSE 30-share Sensex gained 215.38 points, or 1.47%, to 14,840.63 and the S&P CNX Nifty rose 80.95 points, or 1.82%, to 4,529.90
Key benchmark indices saw divergent trend on Tuesday, 2 June 2009 with the BSE Sensex logging small gains and Nifty ending slightly lower in what was a highly choppy trading day. The BSE 30-share Sensex rose 34.28 points, or 0.23%, to 14,874.91. However the S&P CNX Nifty fell 4.65 points, or 0.10%, to 4525.25
Indices continued to see divergent trend for the second running day on Wednesday, 3 June 2009 as the Sensex ended with marginal loss while the S&P CNX Nifty settled slightly higher. The BSE 30-share Sensex fell 4.01 points, or 0.03%, to 14,870.90 after surging past the psychological 15,000 mark, the level it reached for the first time in nearly 9 months in intra-day trade. However, the S&P CNX Nifty rose 5.45 points, or 0.12%, to 4,530.70, its highest closing since 12 August 2008.
Buying frenzy in late trade helped indices reverse early losses caused due to weak global cues and log decent gains on Thursday, 4 June 2009. The BSE 30-share Sensex rose 137.78 points, or 0.93%, to 15,008.68 and the S&P CNX Nifty shot up 41.95 points, or 0.93%, to 4,572.65
Market extended gains on Friday, 5 June 2009 on the back of firm global cues and continued buying demand for index pivotals. The BSE 30-share Sensex rose 94.87 points, or 0.63%, to 15,103.55 and the S&P CNX Nifty rose 14.25 points, or 0.31%, to 4,586.90
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) slipped 2.28% to Rs 2211.85 after its German unit Trevira, a specialty polyester manufacturer, went bankrupt. Reliance Industries had acquired Trevira five years ago for Rs 440 crore. This acquisition in 2004 had propelled Reliance to the position of the world's largest polyester fibre and yarn producer
Meanwhile, the Directorate General of Hydrocarbons has also reportedly contested the authenticity of claims of gas reserves at Krishna Godavari basin blocks D-3 and D-9 by Hardy Oil & Gas Plc. UK-based Hardy Oil, late last month, said RIL may have an estimated 20 trillion cubic feet of natural gas reserves in two areas off the east coast, more than double the quantity of its biggest field. The D-3 and D-9 fields may hold as much as 9.5 trillion cubic feet and 10.8 trillion cubic feet of gas, respectively, it had said. Hardy Oil & Gas Plc has 10% stake each in the two blocks where RIL is the operator with 90% interest.
Metal shares advanced on strong domestic demand and firm prices on the London Metal Exchange (LME). Steel Authority of India (up 1.71%), Hindalco (up 9.68%), Sterlite Industries (up 7.95%), and Hindustan Zinc (up 9.55%), edged higher.
The world's sixth largest steel maker by sales Tata Steel jumped 14.18% to Rs 463.90 after its unit, Tata Steel UK, won approval from banks to ease conditions on a 3.7 billion pounds loans it took to buy Anglo-Dutch Corus. The announcement was made on Saturday, 30 May 2009.
India's top small car maker by sales Maruti Suzuki gained 5.99% to Rs 1082.25 after total sales rose 15.7% to 79,872 units in May 2009 over May 2008.
India's top truck marker by sales Tata Motors jumped 15.55% to Rs 389.05 after global credit rating agency Moody's on Tuesday, 2 June 2009 revised upwards outlook for its low investment grade rating on from negative to stable after the company successfully refinanced a bridge loan for Jaguar and Land Rover acquisition. Despite the sharp rise, the stock is off day's high of Rs 378.70
India's second largest listed cellular services provider by sales Reliance Communications (RCom) surged 10.81% to Rs 338.85 on the company's plans to raise funds through the qualified institutional placement route.
RCom will seek shareholders' approval to garner funds from qualified institutional investors, either through a share sale or an issue of a variety of instruments including fully convertible, partly convertible or non-convertible debentures with warrants or any other security. Although the company did not say how much it planned to raise reports suggested it may be around $500 million and will be used to strengthen financial position for a planned participation in the upcoming auction for nationwide 3G and Wi-Max spectrum allocation by the Indian government.
India's largest cellular services provider by sales Bharti Airtel rose 0.63% to Rs 824.80, on fears that the merger deal with MTN would lead to dilution in earnings per share. On 25 May 2009, Bharti Airtel said it is in talks to buy 49% of Johannesburg-based MTN, the first step in a potential $23 billion merger. The deal may also see MTN, Africa's largest mobile-phone company, buy 36% of Bharti Airtel
Infrastructure shares gained on hopes the Congress-led UPA government may boost spending on infrastructure sector. GVK Power & Infrastructure (up 1.86%), GMR Infrastructure (up 3.79%), Bhel (up 5.17%), IVRCL Infrastructures & Projects (up 11.21%), surged
Realty stocks rose on expectations that stability at the Centre will attract more money from foreign investors into the sector which in turn will boost growth. DLF (up 1.18%), Housing Development & Infrastructure (up 7.13%), and Unitech (up 22.63%), gained.
In the last six weeks, three realty firms Unitech, DLF and Indiabulls Real Estate, have together raised Rs 8000 crore through qualified institutional placements (QIPs).
India's largest bank by net profit and branch network State Bank of India (SBI) fell 2.74% to Rs 1817.90 on profit booking after the recent rally. Reportedly the bank hopes to earn more profit than the landmark figure of Rs 10,000 crore in the current fiscal
India's second largest bank by net profit ICICI Bank rose 1.41% to Rs 751.15 after it said on 4 June 2009 it will cut lending rates by 50 basis points from Friday, 5 June 2009. The benchmark advance rate, or the rate that it charges its top customers, will drop to 15.75% from 16.25%. It also cut floating reference rate (FRR) applicable to floating rate retail loans (including floating rate home loans) by 50 basis points. The revised FRR will be 12.75% from 13.25%. All the existing floating rate customers to benefit from the cut.
Shares of public sector firms gained on speculation the UPA government may revive disinvestment programme. Shipping Corporation of India (up 5.86%), HMT (up 4.87%), Hindustan Copper (up 26.55%), MMTC (up 24.09%), rose
The Congress party had in its manifesto released before polls promised to go ahead with disinvestment while retaining a majority holding in the state-run companies. Disinvestment programme was earlier put on the back burner due to stiff opposition from the Left front which provided support to the previous government for most part of the five-year term.
India's largest cement manufacturer by sales ACC gained 9.57% to Rs 857.95 after cement production rose 1.11% to 1.81 million tonnes and cement dispatches rose 1.11% to 1.82 million tonnes in May 2009 over May 2008.
India's second largest software firm by sales Infosys Technologies gained 5.53% to Rs 1690.55 on reports the firm is looking at three to four companies with annual revenue of $100 million to $200 million in the U.S. and Europe for a potential acquisition.
Wholesale price index rose 0.48 % in the 12 months to 23 May 2009 lower than previous week's annual rise of 0.61%, government data showed on Thursday, 4 June 2009. The annual inflation rate was 8.9% during the corresponding week of the previous year.
The National Stock Exchange (NSE) after trading hours on 29 May 2009, announced a reduction in the lot size of a number of derivatives contracts as a part of a periodic review to meet a previously set value of the contract at Rs 2 lakh. For most of the stocks, the changes will be applicable from July 2009 derivative contracts. The reduction in lot size may result in increased participation from retail investors.
Thus, the lot size of Maruti Suzuki has been slashed to 200 from 800 and that of Steel Authority of India (Sail) has been reduced to 1350 from 5400. The lot size of Axis Bank has been halved to 450 from 900 and for Reliance Industries also the lot size has been halved to 150 from 300. State Bank of India's lot size too has been halved to 132 from 264.
India's infrastructure sector output grew 4.3% in April from a year earlier, government data showed on Tuesday, 2 June 2009. Output had risen 2.3% in the same month last year, and climbed 2.7% in the fiscal year ended March 2009 compared with 5.9% growth in 2007/08. The infrastructure sector accounts for 26.7% of India's industrial output.
Data during trading hours on Monday 1 June 2009 showed that the Market Purchasing Managers' Index (PMI) based on a survey of 500 companies, rose to 55.7 in May 2009 from April's 53.3, well above the threshold of 50 that separates expansion from contraction.
The manufacturing index was boosted mainly by the new orders index, which rose to 59.1 in May 2009 from 54.9 in April 2009. Manufacturing makes up about 15% of India's gross domestic product. Although domestic demand improved, the pricing power of manufacturers was hurt by intense competition, while higher commodity prices also pushed up input prices, Market economist Gemma Wallace said
Globally, China's official purchasing managers' index, a key economic indicator, slipped slightly in May 2009, but stayed above the 50 reading indicating manufacturing activity continued to expand for the third consecutive month. The Purchasing Managers Index slipped to 53.1 in May 2009 from 53.5 in April 2009 but held over the expansionary 50 mark, the China Federation of Logistics & Purchasing said.
US Treasury Secretary Timothy Geithner today, 1 June 2009 said that the global recession seemed to be losing force but that it will be critical for the United States and China to institute major economic reforms to put the world on a more sustained footing. Geithner said that a successful transition to a more balanced and stable global economy will require substantial changes to economic policy and financial regulation around the world and especially in the world's largest and third largest economies.
US GDP decreased at an annual rate of 5.7% in the first quarter of 2009, according to preliminary estimates from the Bureau of Economic Analysis. Although a significant contraction, the fall was smaller than the 6.3% drop in the fourth quarter of last year, and also beat advance estimates which had suggested a decline of 6.1%.
Source : capitalmarket
There are signs of recovery in the Indian economy. Manufacturing activity in India expanded for a second straight month in May 2009 to its highest in eight months, a survey showed, reflecting a revival in domestic demand but export orders remained weak. The Market Purchasing Managers' Index (PMI) based on a survey of 500 companies, rose to 55.7 in May 2009 from April's 53.3, well above the threshold of 50 that separates expansion from contraction.
The manufacturing index was boosted mainly by the new orders index, which rose to 59.1 in May 2009 from 54.9 in April 2009. Manufacturing makes up about 15% of India's gross domestic product. Although domestic demand improved, the pricing power of manufacturers was hurt by intense competition, while higher commodity prices also pushed up input prices, Market economist Gemma Wallace said.
President Pratibha Patil addressed to a joint session of both houses on 4 June 2009 formally disclosing the agenda of the UPA coalition government. She said that the government would aim to revive economic growth with higher investments in sectors such as infrastructure, while adhering to fiscal prudence. Patil said steps would be taken to encourage foreign investment inflows, list shares of state-run firms and infuse more capital in banks. The government's immediate priority must be to focus on management of the economy that will counter the effect of the global slowdown, she added.
Patil said the new regime will develop a roadmap for listing public sector units, co-ordinate with other countries to bring back illegal money stashed in secret bank accounts, recapitalise public sector banks, and bring in the pension reforms bill.
On the economic front, the government's immediate focus would be on sectors that are adversely hit, especially small and medium enterprises, exports, textiles, commercial vehicles, infrastructure and housing.
Hopes of market friendly measures propelled key benchmark indices in the week ended Friday, 5 June 2009. The BSE Sensex advance 478.30 points or 3.27% to 15,103.5512, its highest closing since 12 August 2008. The S&P CNX Nifty gained 137.95 points or 3.1% to 4586.90 its highest closing since 11 August 2009.
The BSE Mid-Cap index gained 353.04 points or 6.98% to 5,409.78 and the BSE Small-Cap index advanced 471.83 points or 7.88% to 6,458.65 in the week ended Friday, 5 June 2009. Both these indices outperformed the Sensex
Trading for the week started on an upbeat note with markets advancing on Monday, 1 June 2009 in anticipation of a strong push for economic reforms by the newly-elected United Progressive Alliance (UPA) government. The BSE 30-share Sensex gained 215.38 points, or 1.47%, to 14,840.63 and the S&P CNX Nifty rose 80.95 points, or 1.82%, to 4,529.90
Key benchmark indices saw divergent trend on Tuesday, 2 June 2009 with the BSE Sensex logging small gains and Nifty ending slightly lower in what was a highly choppy trading day. The BSE 30-share Sensex rose 34.28 points, or 0.23%, to 14,874.91. However the S&P CNX Nifty fell 4.65 points, or 0.10%, to 4525.25
Indices continued to see divergent trend for the second running day on Wednesday, 3 June 2009 as the Sensex ended with marginal loss while the S&P CNX Nifty settled slightly higher. The BSE 30-share Sensex fell 4.01 points, or 0.03%, to 14,870.90 after surging past the psychological 15,000 mark, the level it reached for the first time in nearly 9 months in intra-day trade. However, the S&P CNX Nifty rose 5.45 points, or 0.12%, to 4,530.70, its highest closing since 12 August 2008.
Buying frenzy in late trade helped indices reverse early losses caused due to weak global cues and log decent gains on Thursday, 4 June 2009. The BSE 30-share Sensex rose 137.78 points, or 0.93%, to 15,008.68 and the S&P CNX Nifty shot up 41.95 points, or 0.93%, to 4,572.65
Market extended gains on Friday, 5 June 2009 on the back of firm global cues and continued buying demand for index pivotals. The BSE 30-share Sensex rose 94.87 points, or 0.63%, to 15,103.55 and the S&P CNX Nifty rose 14.25 points, or 0.31%, to 4,586.90
India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) slipped 2.28% to Rs 2211.85 after its German unit Trevira, a specialty polyester manufacturer, went bankrupt. Reliance Industries had acquired Trevira five years ago for Rs 440 crore. This acquisition in 2004 had propelled Reliance to the position of the world's largest polyester fibre and yarn producer
Meanwhile, the Directorate General of Hydrocarbons has also reportedly contested the authenticity of claims of gas reserves at Krishna Godavari basin blocks D-3 and D-9 by Hardy Oil & Gas Plc. UK-based Hardy Oil, late last month, said RIL may have an estimated 20 trillion cubic feet of natural gas reserves in two areas off the east coast, more than double the quantity of its biggest field. The D-3 and D-9 fields may hold as much as 9.5 trillion cubic feet and 10.8 trillion cubic feet of gas, respectively, it had said. Hardy Oil & Gas Plc has 10% stake each in the two blocks where RIL is the operator with 90% interest.
Metal shares advanced on strong domestic demand and firm prices on the London Metal Exchange (LME). Steel Authority of India (up 1.71%), Hindalco (up 9.68%), Sterlite Industries (up 7.95%), and Hindustan Zinc (up 9.55%), edged higher.
The world's sixth largest steel maker by sales Tata Steel jumped 14.18% to Rs 463.90 after its unit, Tata Steel UK, won approval from banks to ease conditions on a 3.7 billion pounds loans it took to buy Anglo-Dutch Corus. The announcement was made on Saturday, 30 May 2009.
India's top small car maker by sales Maruti Suzuki gained 5.99% to Rs 1082.25 after total sales rose 15.7% to 79,872 units in May 2009 over May 2008.
India's top truck marker by sales Tata Motors jumped 15.55% to Rs 389.05 after global credit rating agency Moody's on Tuesday, 2 June 2009 revised upwards outlook for its low investment grade rating on from negative to stable after the company successfully refinanced a bridge loan for Jaguar and Land Rover acquisition. Despite the sharp rise, the stock is off day's high of Rs 378.70
India's second largest listed cellular services provider by sales Reliance Communications (RCom) surged 10.81% to Rs 338.85 on the company's plans to raise funds through the qualified institutional placement route.
RCom will seek shareholders' approval to garner funds from qualified institutional investors, either through a share sale or an issue of a variety of instruments including fully convertible, partly convertible or non-convertible debentures with warrants or any other security. Although the company did not say how much it planned to raise reports suggested it may be around $500 million and will be used to strengthen financial position for a planned participation in the upcoming auction for nationwide 3G and Wi-Max spectrum allocation by the Indian government.
India's largest cellular services provider by sales Bharti Airtel rose 0.63% to Rs 824.80, on fears that the merger deal with MTN would lead to dilution in earnings per share. On 25 May 2009, Bharti Airtel said it is in talks to buy 49% of Johannesburg-based MTN, the first step in a potential $23 billion merger. The deal may also see MTN, Africa's largest mobile-phone company, buy 36% of Bharti Airtel
Infrastructure shares gained on hopes the Congress-led UPA government may boost spending on infrastructure sector. GVK Power & Infrastructure (up 1.86%), GMR Infrastructure (up 3.79%), Bhel (up 5.17%), IVRCL Infrastructures & Projects (up 11.21%), surged
Realty stocks rose on expectations that stability at the Centre will attract more money from foreign investors into the sector which in turn will boost growth. DLF (up 1.18%), Housing Development & Infrastructure (up 7.13%), and Unitech (up 22.63%), gained.
In the last six weeks, three realty firms Unitech, DLF and Indiabulls Real Estate, have together raised Rs 8000 crore through qualified institutional placements (QIPs).
India's largest bank by net profit and branch network State Bank of India (SBI) fell 2.74% to Rs 1817.90 on profit booking after the recent rally. Reportedly the bank hopes to earn more profit than the landmark figure of Rs 10,000 crore in the current fiscal
India's second largest bank by net profit ICICI Bank rose 1.41% to Rs 751.15 after it said on 4 June 2009 it will cut lending rates by 50 basis points from Friday, 5 June 2009. The benchmark advance rate, or the rate that it charges its top customers, will drop to 15.75% from 16.25%. It also cut floating reference rate (FRR) applicable to floating rate retail loans (including floating rate home loans) by 50 basis points. The revised FRR will be 12.75% from 13.25%. All the existing floating rate customers to benefit from the cut.
Shares of public sector firms gained on speculation the UPA government may revive disinvestment programme. Shipping Corporation of India (up 5.86%), HMT (up 4.87%), Hindustan Copper (up 26.55%), MMTC (up 24.09%), rose
The Congress party had in its manifesto released before polls promised to go ahead with disinvestment while retaining a majority holding in the state-run companies. Disinvestment programme was earlier put on the back burner due to stiff opposition from the Left front which provided support to the previous government for most part of the five-year term.
India's largest cement manufacturer by sales ACC gained 9.57% to Rs 857.95 after cement production rose 1.11% to 1.81 million tonnes and cement dispatches rose 1.11% to 1.82 million tonnes in May 2009 over May 2008.
India's second largest software firm by sales Infosys Technologies gained 5.53% to Rs 1690.55 on reports the firm is looking at three to four companies with annual revenue of $100 million to $200 million in the U.S. and Europe for a potential acquisition.
Wholesale price index rose 0.48 % in the 12 months to 23 May 2009 lower than previous week's annual rise of 0.61%, government data showed on Thursday, 4 June 2009. The annual inflation rate was 8.9% during the corresponding week of the previous year.
The National Stock Exchange (NSE) after trading hours on 29 May 2009, announced a reduction in the lot size of a number of derivatives contracts as a part of a periodic review to meet a previously set value of the contract at Rs 2 lakh. For most of the stocks, the changes will be applicable from July 2009 derivative contracts. The reduction in lot size may result in increased participation from retail investors.
Thus, the lot size of Maruti Suzuki has been slashed to 200 from 800 and that of Steel Authority of India (Sail) has been reduced to 1350 from 5400. The lot size of Axis Bank has been halved to 450 from 900 and for Reliance Industries also the lot size has been halved to 150 from 300. State Bank of India's lot size too has been halved to 132 from 264.
India's infrastructure sector output grew 4.3% in April from a year earlier, government data showed on Tuesday, 2 June 2009. Output had risen 2.3% in the same month last year, and climbed 2.7% in the fiscal year ended March 2009 compared with 5.9% growth in 2007/08. The infrastructure sector accounts for 26.7% of India's industrial output.
Data during trading hours on Monday 1 June 2009 showed that the Market Purchasing Managers' Index (PMI) based on a survey of 500 companies, rose to 55.7 in May 2009 from April's 53.3, well above the threshold of 50 that separates expansion from contraction.
The manufacturing index was boosted mainly by the new orders index, which rose to 59.1 in May 2009 from 54.9 in April 2009. Manufacturing makes up about 15% of India's gross domestic product. Although domestic demand improved, the pricing power of manufacturers was hurt by intense competition, while higher commodity prices also pushed up input prices, Market economist Gemma Wallace said
Globally, China's official purchasing managers' index, a key economic indicator, slipped slightly in May 2009, but stayed above the 50 reading indicating manufacturing activity continued to expand for the third consecutive month. The Purchasing Managers Index slipped to 53.1 in May 2009 from 53.5 in April 2009 but held over the expansionary 50 mark, the China Federation of Logistics & Purchasing said.
US Treasury Secretary Timothy Geithner today, 1 June 2009 said that the global recession seemed to be losing force but that it will be critical for the United States and China to institute major economic reforms to put the world on a more sustained footing. Geithner said that a successful transition to a more balanced and stable global economy will require substantial changes to economic policy and financial regulation around the world and especially in the world's largest and third largest economies.
US GDP decreased at an annual rate of 5.7% in the first quarter of 2009, according to preliminary estimates from the Bureau of Economic Analysis. Although a significant contraction, the fall was smaller than the 6.3% drop in the fourth quarter of last year, and also beat advance estimates which had suggested a decline of 6.1%.
Source : capitalmarket
Thursday, June 4, 2009
Closing Bell 3rd June 2009
Closing Bell 3rd June 2009
After falling into the red during the afternoon session, persistent buying activity during the second half of trade led the indices to end the day on a flat note. The BSE-Sensex ended the day lower by around 5 points, while the NSE-Nifty closed higher by about 5 points. Stocks from the mid-cap and small-cap spaces continued their upsurge as they ended the day with gains of around 1.5% and 2.1% respectively. While buying activity was witnessed in stocks from the FMCG, consumer durables and healthcare spaces, stocks from the banking and IT space ended the day on a negative note.
Most of the other Asian markets ended the day on a positive note. The European indices are currently trading in the red. Rupee was trading at 46.97 against the US dollar at the time of writing.
Aluminium stocks ended the day on a firm note led by Hindalco and Nalco. As per a leading business daily, the government is likely to impose a 10% safeguard duty on the imports of key aluminium products that are used in the automobile and machinery sector. It may be noted that of late, the aluminium industry has been under pressure due to cheaper imports from China, South Korea, Oman and Iran. This move by the government can be viewed as a step to support the domestic aluminium producers.
Cement stocks ended the day on a firm note led by Ambuja Cements and ACC. The month of May 2009, was a strong one for the cement industry as it recorded high volumes sales on account of higher demand. A leading business daily reported that Ambuja Cements increased its shipments by around 8.3% YoY, while that of Grasim Industries and UltraTech Cements grew by around 20% YoY each. As for Shree Cement, the company has recorded an increase of 32% YoY during the month. However, this is mainly on account of new capacity additions. It may be noted that the period before the monsoon season is usually the peak season for the construction sector.
In a recent meeting between the Finance Minister and exporters, issues and possible measures to tackle the falling exports were discussed. A leading business daily reported that the exporters have asked for an exemption from fringe benefit tax as well as faster refunds of service tax. In addition, they have also called for an interest rate of 7% for exports-related credit. In addition to all this, they proposed a Rs 50 bn fund which would allow them to market their products in emerging overseas markets like East Europe, Latin America or Africa. It may be noted that exports have been falling continuously for the past seven months on account of the falling demand from markets such as the US and Europe.
Profit booking at higher levels led the indices to move into the negative region during the previous two hours of trade. However, the overall advance to decline ratio continues to remain in favour of the former at 2.2 to 1 on the BSE. Currently, stocks from the IT and banking spaces are leading the pack of losers, while stocks from the consumer durables, FMCG and healthcare sectors are trading firm.
Two-wheeler stocks are currently trading mixed with Bajaj Auto trading firm, while Hero Honda and TVS Motor are trading in the red. In a move to safeguard itself from declining domestic volumes growth in addition to boosting sales, Bajaj Auto is looking to expand its business in markets such as Africa and Europe. As per a leading business daily, the company is looking at exploring these regions for marketing and selling its motorcycles particularly models such as the Boxer, CT 100 and Pulsar. While the company did witness a fall in volumes sales (even in export markets) during the month of May 2009, it may be noted that during FY09, nearly 29% of its total unit sales (including other two-wheelers and three-wheelers) comprised of motorbikes sold in the export markets. In fact, exports (as a whole) witnessed a 25% YoY growth in over all volumes over the previous year.
FMCG stocks are trading firm led by Dabur, Marico and HUL. As per a leading business daily, FMCG companies continued to witness high volume growth in the key products like detergents, soaps, biscuits and toothpastes. The industry volumes have grown by 20% YoY during the month of April and May 2009, mainly attributed to lower raw material costs and excise benefits that companies passed on to the customers. The growth was witnessed both, in the urban and rural areas. In fact, the industry expects volume growth of around 30% YoY for the entire FY10 led by strong demand in the rural areas. Further higher brand promotions and new launches (variants and price points) by the company are also expected to drive growth.
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 auto, telecom and aluminium sectors are leading the pack of gainers, while select stocks from the banking, software and energy sector are trading weak. The overall advance to decline ratio is poised at 4.2 to 1 on the BSE.
Pharma stocks are trading mixed. While Dishman Pharma and Ranbaxy are trading higher, Wockhardt is trading lower. As per a leading business daily, Dishman Pharma is likely to start its operations in China by August-September of 2009. The company is setting up a facility at Shanghai which will produce quaternary salts and medicine intermediates for international clients. It may be noted that Dishman Pharma is a leading player in the contract research and manufacturing services (CRAMS) space. It has invested around US$ 10 m in the Chinese facility. The management expects the facility to generate revenues of around US$ 10 m in first year of operation and US$ 20 m to US$ 25 m annually thereafter. While the company imports around 20% of active pharmaceutical ingredients (API) from China, the new facility in Shanghai is likely to reduce the cost of raw materials for it. Also, it plans to invest around Rs 1 bn in FY10 in order to boost the capacities at the Shanghai facility and the oncology facility at Ahmedabad.
Steel stocks are trading mixed. While Tata Steel and JSW Steel are trading higher, SAIL is trading lower. As per a leading business daily, India’s largest steel producer, SAIL managed to grow its domestic sales by 12% in May 2009 as compared to same period last year. It sold around 1 m tonnes (MT) during the period, which is the highest ever monthly sale recorded by it. It may be noted that the saleable steel production grew by 5% to 1.1 MT during the same period. SAIL’s domestic sales in the first two months of the current fiscal now stand at around 1.9 MT. The management of the company has planned a target of selling around 13 MT of steel in FY10. As per reports, demand for steel is likely to fall across the world except for India where it will likely grow by 6% to 7%.
After falling into the red during the afternoon session, persistent buying activity during the second half of trade led the indices to end the day on a flat note. The BSE-Sensex ended the day lower by around 5 points, while the NSE-Nifty closed higher by about 5 points. Stocks from the mid-cap and small-cap spaces continued their upsurge as they ended the day with gains of around 1.5% and 2.1% respectively. While buying activity was witnessed in stocks from the FMCG, consumer durables and healthcare spaces, stocks from the banking and IT space ended the day on a negative note.
Most of the other Asian markets ended the day on a positive note. The European indices are currently trading in the red. Rupee was trading at 46.97 against the US dollar at the time of writing.
Aluminium stocks ended the day on a firm note led by Hindalco and Nalco. As per a leading business daily, the government is likely to impose a 10% safeguard duty on the imports of key aluminium products that are used in the automobile and machinery sector. It may be noted that of late, the aluminium industry has been under pressure due to cheaper imports from China, South Korea, Oman and Iran. This move by the government can be viewed as a step to support the domestic aluminium producers.
Cement stocks ended the day on a firm note led by Ambuja Cements and ACC. The month of May 2009, was a strong one for the cement industry as it recorded high volumes sales on account of higher demand. A leading business daily reported that Ambuja Cements increased its shipments by around 8.3% YoY, while that of Grasim Industries and UltraTech Cements grew by around 20% YoY each. As for Shree Cement, the company has recorded an increase of 32% YoY during the month. However, this is mainly on account of new capacity additions. It may be noted that the period before the monsoon season is usually the peak season for the construction sector.
In a recent meeting between the Finance Minister and exporters, issues and possible measures to tackle the falling exports were discussed. A leading business daily reported that the exporters have asked for an exemption from fringe benefit tax as well as faster refunds of service tax. In addition, they have also called for an interest rate of 7% for exports-related credit. In addition to all this, they proposed a Rs 50 bn fund which would allow them to market their products in emerging overseas markets like East Europe, Latin America or Africa. It may be noted that exports have been falling continuously for the past seven months on account of the falling demand from markets such as the US and Europe.
Profit booking at higher levels led the indices to move into the negative region during the previous two hours of trade. However, the overall advance to decline ratio continues to remain in favour of the former at 2.2 to 1 on the BSE. Currently, stocks from the IT and banking spaces are leading the pack of losers, while stocks from the consumer durables, FMCG and healthcare sectors are trading firm.
Two-wheeler stocks are currently trading mixed with Bajaj Auto trading firm, while Hero Honda and TVS Motor are trading in the red. In a move to safeguard itself from declining domestic volumes growth in addition to boosting sales, Bajaj Auto is looking to expand its business in markets such as Africa and Europe. As per a leading business daily, the company is looking at exploring these regions for marketing and selling its motorcycles particularly models such as the Boxer, CT 100 and Pulsar. While the company did witness a fall in volumes sales (even in export markets) during the month of May 2009, it may be noted that during FY09, nearly 29% of its total unit sales (including other two-wheelers and three-wheelers) comprised of motorbikes sold in the export markets. In fact, exports (as a whole) witnessed a 25% YoY growth in over all volumes over the previous year.
FMCG stocks are trading firm led by Dabur, Marico and HUL. As per a leading business daily, FMCG companies continued to witness high volume growth in the key products like detergents, soaps, biscuits and toothpastes. The industry volumes have grown by 20% YoY during the month of April and May 2009, mainly attributed to lower raw material costs and excise benefits that companies passed on to the customers. The growth was witnessed both, in the urban and rural areas. In fact, the industry expects volume growth of around 30% YoY for the entire FY10 led by strong demand in the rural areas. Further higher brand promotions and new launches (variants and price points) by the company are also expected to drive growth.
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 auto, telecom and aluminium sectors are leading the pack of gainers, while select stocks from the banking, software and energy sector are trading weak. The overall advance to decline ratio is poised at 4.2 to 1 on the BSE.
Pharma stocks are trading mixed. While Dishman Pharma and Ranbaxy are trading higher, Wockhardt is trading lower. As per a leading business daily, Dishman Pharma is likely to start its operations in China by August-September of 2009. The company is setting up a facility at Shanghai which will produce quaternary salts and medicine intermediates for international clients. It may be noted that Dishman Pharma is a leading player in the contract research and manufacturing services (CRAMS) space. It has invested around US$ 10 m in the Chinese facility. The management expects the facility to generate revenues of around US$ 10 m in first year of operation and US$ 20 m to US$ 25 m annually thereafter. While the company imports around 20% of active pharmaceutical ingredients (API) from China, the new facility in Shanghai is likely to reduce the cost of raw materials for it. Also, it plans to invest around Rs 1 bn in FY10 in order to boost the capacities at the Shanghai facility and the oncology facility at Ahmedabad.
Steel stocks are trading mixed. While Tata Steel and JSW Steel are trading higher, SAIL is trading lower. As per a leading business daily, India’s largest steel producer, SAIL managed to grow its domestic sales by 12% in May 2009 as compared to same period last year. It sold around 1 m tonnes (MT) during the period, which is the highest ever monthly sale recorded by it. It may be noted that the saleable steel production grew by 5% to 1.1 MT during the same period. SAIL’s domestic sales in the first two months of the current fiscal now stand at around 1.9 MT. The management of the company has planned a target of selling around 13 MT of steel in FY10. As per reports, demand for steel is likely to fall across the world except for India where it will likely grow by 6% to 7%.
BSE / NSE Shares analysis 3rd June 2009
BSE / NSE Shares analysis 3rd June 2009
Despite a heady start and subsequent firm display, the market slipped on profit taking and ended on a flat note today. Asian markets mostly ended higher. European markets opened weak and U.S. index futures edged lower, rendering the mood a bit cautious on the Indian bourses in afternoon trade.
The Sensex, which breached the 15,000 mark for the first time in 9 months, failed to retain gains and ended in negative territory today. The barometer provisionally settled at 14,845.56, down 29.35 points or 0.2%. It rose to a high of 15,046.43 in morning trade but fell to 14,733.59 around mid afternoon. The Nifty closed at 4520.90, down 4.35 points. It touched a high of 4574.90 and a low of 4478.60 today.
Consumer durables, FMCG, pharma and metal stocks had a good outing today. Bank, oil and IT stocks declined. Select realty, auto, capital goods and power stocks surged higher.
Hindalco, ITC, Grasim, ACC, RComm, JP Associates, Sun Pharma, Tata Motors, HUL, Tata Steel, Maruti, Sterlite and Ranbaxy ended with sharp gains. Mahindra & Mahindra, SBI, Infosys, ICICI Bank, RIL and HDFC Bank closed lower. Suzlon Energy flared up by over 14%.
Power Grid, Cipla, Ambuja Cements, Unitech, Tata Comm, PNB, Nalco, Siemens and RPower moved up sharply. Cairn India, HCL Tech, SAIL, ABB, BPCL, RPL, Hero Honda and GAIL closed with sharp losses.
Cranes Software (Rs 62) can be tried at Rs 50 - 53 levels for long term. Though a sharp fall from current levels looks unlikely, a modest decline is not ruled out in the near run. Long term investors can hold the stock with a stop loss near Rs 40.
Tech Mahindra (up 18.75% at Rs 663.50) is on a roll today. The stock, which had slipped to Rs 203.70 in late January this year, had hit a high of Rs 865 in early June 2008. The stock can well re-test that high over the next 3 - 6 months. One can stay invested in the stock and look at buying more in small quantities at declines.
Jaihind Projects Ltd has informed BSE that the Company in consortium has been awarded order of Rs 230.81 crore from Gujarat State Petronet Ltd for E.P.C. Project for Darod - Jafrabad Gas Pipeline Project - Section A. Earlier in the day, the company had bagged an order worth Rs 14.84 crore from Gujarat State Petronet Ltd for Laying of Olpad-Utran Gas Pipeline Project. The stock is up 5% at Rs 85.90 now.
European markets have opened on a weak note today with bank stocks drifting down sharply. U.S. index futures too are down in the red now. Back home, profit taking has wiped off early gains and a few heavyweights are seen struggling for support at present. Markets the world over are awaiting some key economic data from the U.S. today.
GMR Infrastructure (Rs 168) can rise to Rs 200 over a short run. Long term investors can hold the stock with a stoop loss near Rs 130. One can take some modest exposure in the counter now and go in for more at declines.
After recent strong gains, Mahindra & Mahindra is facing some pressure on profit taking. The stock is down by 4.2% at Rs 695 and a further fall from here is not ruled out. One looking at long term can stay invested and add more quantities at sharp dips. Fresh buying can be considered at Rs 600 - 610 levels.
Asian markets ended on a firm note today amid hopes of a global economic recovery. Strong economic data from U.S. and Australia aided sentiment in the region today. Indian markets are off their highs and are up just marginally at present.
Infrastructure firm MARG has signed an MoU with BSNL, India's leading telecommunication company, to provide world class telecommunication facilities in the upcoming mega infrastructure project, MARG Swarnabhoomi. As part of the MoU, BSNL will provide complete telecom solutions, including voice, data, WiFi hotspots, video and audio conferencing facility, broadband, leased lines and wireless services at MARG Swarnabhoomi.
One can buy ITC (Rs 202) for short to medium term. The stock can rise to Rs 220 - 225 where it is likely to face some stiff resistance. Short term traders can book some profits there and re-enter again at declines.
Balrampur Chini (Rs 95) looks set for a rise to around Rs 105 - 110. Investors with a reasonably good appetite for risk can try this stock now with a stop loss at Rs 85 - 87. Bajaj Hindustan, Renuka Sugars and Dwarikesh Sugars can also be tried at slight declines.
One looking for some sharp gains over a medium term can try Syndicate Bank (Rs 84) at current levels or slightly lower. The stock, which hit a new high at Rs 86 today, can move on to Rs 110 or even higher over a medium run. A stop loss can be placed near Rs 65.
Nucleus Software Limited has announced that it has further strengthened its six-year long relationship with United Finance Company SAOG (UFC), the largest finance company of Oman. Nucleus' FinnOne will now power UFC with its Lead Management System and Customer Service Module, to be implemented across 7 branches of the company. Buoyed up by the announcement, the Nucleus Software stock has jumped 6.5% to Rs 100 this morning.
Market Outlook
The market is likely to open on a positive note this morning. Though profit taking may cap gains, the undertone is likely to remain fairly bullish. A few volatile spells are not ruled out.
Sector Watch
Cement stocks are likely to remain in focus with most of the cement manufacturers reporting fairly strong shipment figures for May 2009. Steel, capital goods and infrastructure stocks are likely to attract attention.
Buying is expected to remain stock specific in information technology, FMCG and pharma sectors.
Scrip Watch
Hindustan Petroleum Corporation Limited has posted a net profit of Rs 51040.40 million for the quarter ended March 31, 2009 as compared to Rs 3845.10 million for the quarter ended March 31, 2008. Total Income has decreased from Rs 317794.90 million for the quarter ended March 31, 2008 to Rs 255804.60 million for the quarter ended March 31, 2009. The HPCL counter is likely to see some buying today.
SAIL may surge higher following an announcement from the company that its domestic sales increased by 12% to about a million tons for May over the year-ago period.
BHEL is likely to see action following the company successfully commissioning two grid-interactive solar power plants of 100 KWP each in Lakshadweep. With this, BHEL has commissioned a total of eleven solar power plants in the Lakshadweep islands, adding over 1 MW of solar power to the power generating capacity of the coral islands in the Arabian Sea.
McLeod Russel, DCM Shriram and Nalco will be announcing their quarterly results today.
Macro and Market Factors
The Wall Street ended on a positive note despite a choppy ride yesterday. Better than expected pending homes sales data buoyed up sentiment there. Asian markets are also trading firm after initial weakness.
With economy showing signs of improving and expectations from the newly formed government increasing by the day, investors are likely to stay invested and look at falls as opportunities to increase exposure.
Despite a heady start and subsequent firm display, the market slipped on profit taking and ended on a flat note today. Asian markets mostly ended higher. European markets opened weak and U.S. index futures edged lower, rendering the mood a bit cautious on the Indian bourses in afternoon trade.
The Sensex, which breached the 15,000 mark for the first time in 9 months, failed to retain gains and ended in negative territory today. The barometer provisionally settled at 14,845.56, down 29.35 points or 0.2%. It rose to a high of 15,046.43 in morning trade but fell to 14,733.59 around mid afternoon. The Nifty closed at 4520.90, down 4.35 points. It touched a high of 4574.90 and a low of 4478.60 today.
Consumer durables, FMCG, pharma and metal stocks had a good outing today. Bank, oil and IT stocks declined. Select realty, auto, capital goods and power stocks surged higher.
Hindalco, ITC, Grasim, ACC, RComm, JP Associates, Sun Pharma, Tata Motors, HUL, Tata Steel, Maruti, Sterlite and Ranbaxy ended with sharp gains. Mahindra & Mahindra, SBI, Infosys, ICICI Bank, RIL and HDFC Bank closed lower. Suzlon Energy flared up by over 14%.
Power Grid, Cipla, Ambuja Cements, Unitech, Tata Comm, PNB, Nalco, Siemens and RPower moved up sharply. Cairn India, HCL Tech, SAIL, ABB, BPCL, RPL, Hero Honda and GAIL closed with sharp losses.
Cranes Software (Rs 62) can be tried at Rs 50 - 53 levels for long term. Though a sharp fall from current levels looks unlikely, a modest decline is not ruled out in the near run. Long term investors can hold the stock with a stop loss near Rs 40.
Tech Mahindra (up 18.75% at Rs 663.50) is on a roll today. The stock, which had slipped to Rs 203.70 in late January this year, had hit a high of Rs 865 in early June 2008. The stock can well re-test that high over the next 3 - 6 months. One can stay invested in the stock and look at buying more in small quantities at declines.
Jaihind Projects Ltd has informed BSE that the Company in consortium has been awarded order of Rs 230.81 crore from Gujarat State Petronet Ltd for E.P.C. Project for Darod - Jafrabad Gas Pipeline Project - Section A. Earlier in the day, the company had bagged an order worth Rs 14.84 crore from Gujarat State Petronet Ltd for Laying of Olpad-Utran Gas Pipeline Project. The stock is up 5% at Rs 85.90 now.
European markets have opened on a weak note today with bank stocks drifting down sharply. U.S. index futures too are down in the red now. Back home, profit taking has wiped off early gains and a few heavyweights are seen struggling for support at present. Markets the world over are awaiting some key economic data from the U.S. today.
GMR Infrastructure (Rs 168) can rise to Rs 200 over a short run. Long term investors can hold the stock with a stoop loss near Rs 130. One can take some modest exposure in the counter now and go in for more at declines.
After recent strong gains, Mahindra & Mahindra is facing some pressure on profit taking. The stock is down by 4.2% at Rs 695 and a further fall from here is not ruled out. One looking at long term can stay invested and add more quantities at sharp dips. Fresh buying can be considered at Rs 600 - 610 levels.
Asian markets ended on a firm note today amid hopes of a global economic recovery. Strong economic data from U.S. and Australia aided sentiment in the region today. Indian markets are off their highs and are up just marginally at present.
Infrastructure firm MARG has signed an MoU with BSNL, India's leading telecommunication company, to provide world class telecommunication facilities in the upcoming mega infrastructure project, MARG Swarnabhoomi. As part of the MoU, BSNL will provide complete telecom solutions, including voice, data, WiFi hotspots, video and audio conferencing facility, broadband, leased lines and wireless services at MARG Swarnabhoomi.
One can buy ITC (Rs 202) for short to medium term. The stock can rise to Rs 220 - 225 where it is likely to face some stiff resistance. Short term traders can book some profits there and re-enter again at declines.
Balrampur Chini (Rs 95) looks set for a rise to around Rs 105 - 110. Investors with a reasonably good appetite for risk can try this stock now with a stop loss at Rs 85 - 87. Bajaj Hindustan, Renuka Sugars and Dwarikesh Sugars can also be tried at slight declines.
One looking for some sharp gains over a medium term can try Syndicate Bank (Rs 84) at current levels or slightly lower. The stock, which hit a new high at Rs 86 today, can move on to Rs 110 or even higher over a medium run. A stop loss can be placed near Rs 65.
Nucleus Software Limited has announced that it has further strengthened its six-year long relationship with United Finance Company SAOG (UFC), the largest finance company of Oman. Nucleus' FinnOne will now power UFC with its Lead Management System and Customer Service Module, to be implemented across 7 branches of the company. Buoyed up by the announcement, the Nucleus Software stock has jumped 6.5% to Rs 100 this morning.
Market Outlook
The market is likely to open on a positive note this morning. Though profit taking may cap gains, the undertone is likely to remain fairly bullish. A few volatile spells are not ruled out.
Sector Watch
Cement stocks are likely to remain in focus with most of the cement manufacturers reporting fairly strong shipment figures for May 2009. Steel, capital goods and infrastructure stocks are likely to attract attention.
Buying is expected to remain stock specific in information technology, FMCG and pharma sectors.
Scrip Watch
Hindustan Petroleum Corporation Limited has posted a net profit of Rs 51040.40 million for the quarter ended March 31, 2009 as compared to Rs 3845.10 million for the quarter ended March 31, 2008. Total Income has decreased from Rs 317794.90 million for the quarter ended March 31, 2008 to Rs 255804.60 million for the quarter ended March 31, 2009. The HPCL counter is likely to see some buying today.
SAIL may surge higher following an announcement from the company that its domestic sales increased by 12% to about a million tons for May over the year-ago period.
BHEL is likely to see action following the company successfully commissioning two grid-interactive solar power plants of 100 KWP each in Lakshadweep. With this, BHEL has commissioned a total of eleven solar power plants in the Lakshadweep islands, adding over 1 MW of solar power to the power generating capacity of the coral islands in the Arabian Sea.
McLeod Russel, DCM Shriram and Nalco will be announcing their quarterly results today.
Macro and Market Factors
The Wall Street ended on a positive note despite a choppy ride yesterday. Better than expected pending homes sales data buoyed up sentiment there. Asian markets are also trading firm after initial weakness.
With economy showing signs of improving and expectations from the newly formed government increasing by the day, investors are likely to stay invested and look at falls as opportunities to increase exposure.
Brokerage recommendations 3rd June 2009
Brokerage recommendations 3rd June 2009
Buy ICICI Bank on any correction around Rs 650 for excellent long-term returns, says Prasad Kushe, technical analyst, on NDTV Profit. It has a target of Rs 5000-8000 in 5-7 years, he adds. The stock is currently trading at Rs 717, down 2.1% on the BSE.
Buy Reliance Communications with a target of Rs 430 and keep a stop loss of Rs 280, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 332, up 4% on the BSE.
Buy Essar Oil with a target of Rs 185-225-240 and keep a stop loss of Rs 145, says Prasad Kushe, technical analyst, on NDTV Profit. The stock is currently trading at Rs 181, up 8.4% on the BSE.
Buy JP Hydro with a target of Rs 93 and keep a stop loss of Rs 64, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 73, up 0.2% on the BSE.
Hold Alok Industries with a target of Rs 28-38-55, says Prasad Kushe, technical analyst, on NDTV Profit. The stock is currently trading at Rs 27, up 14% on the BSE.
Buy JP Associates with a target of Rs 380 and keep a stop loss of Rs 207, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 225, up 4% on the BSE.
Buy Sobha Developers with a target of Rs 250-290 and keep a stop loss of Rs 195, says Jatindra Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 224, up 10% on the BSE.
Buy FDC with a target of Rs 82-83 and keep a stop loss of Rs 38, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 46, up 3.2% on the BSE.
Buy Max India with a target of Rs 230, says Jatindra Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 204, up 4.2% on the BSE.
The market is now in a euphoric state and people need to book 10% profits every day, says Ashwani Gujral, technical analyst, on CNBC TV18. People should reduce their exposure as a dip could come any time now, he adds.
The market ends flat amid choppy trade and weak global cues. Midcaps and smallcaps outperform. Sensex closed at 14845, down 29 points (provisional) and Nifty is at 4520, down 4 points (provisional) from the previous close. CNX Midcap index was up 1.37% and BSE Smallcap index was up 1.99%. The market breadth was positive with advances at 888 against declines of 383 on the NSE.
Buy Aban Offshore with a target of Rs 1140 after which it can go to Rs 1450 and keep a stop loss of Rs 900, says Jatindra Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1110, up 15% on the BSE.
All bull markets normally see a correction so if there is a pause in this rally it would be healthy, says Prasad Kushe, technical analyst, on NDTV Profit. Sensex could correct to 14000 and Nifty to 4400-4300 where fresh buying would emerge, he says. Then the rally could go up again to 16150 on the Sensex and 4650 on the Nifty, he adds.
Buy REC International with a target of Rs 165 and stop loss of Rs 139, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 148, up 2.3% on the BSE.
Buy Chambal Fertilisers with a short-term target of Rs 76-80 and keep a stop loss of Rs 64, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 67, down 2.3% on the BSE.
Buy GNFC with a target of Rs 112 and stop loss of Rs 94, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 99, up 1.3% on the BSE.
Buy Bartronics with a short-term target of Rs 168, medium-term target of Rs 175 and keep a stop loss of Rs 138, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 158, up 1.7% on the BSE.
Buy Cipla with a target of Rs 245 and stop loss of Rs 217, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 229, up 3% on the BSE.
Buy TTML with a target of Rs 40-46 and keep a stop loss of Rs 32, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 35, down 0.8% on the BSE.
Buy Tata Steel with support at 340, target of Rs 525-580 and stop loss of Rs 385, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 482, up 1.8% on the BSE. » Send to friends
1:48 PM - Buy Tata Steel with a target of Rs 550 and stop loss of Rs 450, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 482, up 1.8% on the BSE.
Buy RPL on dips with a target of Rs 150 after which it will see fresh upside and keep a stop loss of Rs 130, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 142, down 0.8% on the BSE.
Buy DLF with support at 380, target of Rs 422-555-580 and stop loss of Rs 320, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 412, up 2% on the BSE.
Buy GMR Infra with a target of Rs 190-250 and stop loss of Rs 115, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 175, up 1.3% on the BSE.
The market has run ahead of itself and is a liquidity driven rally, says Aditya Samant of ING Financial Planning, on NDTV Profit. The current rally could end in sideways consolidation which would be healthier for the market, he adds.
Buy ICICI Bank with support at 650-700, target of Rs 760-792 and stop loss of Rs 640, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 735, up 0.48% on the BSE.
Buy Rolta with a target of Rs 190-200 and stop loss of Rs 120, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 144, down 0.6% on the BSE.
Buy Ashok Leyland with support at 32-28, target of Rs 44 and stop loss of Rs 30, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 37, up 1.8% on the BSE.
Buy Satyam around Rs 60 with a target of Rs 100-115 and stop loss of Rs 52, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 67, up 6.8% on the BSE.
Buy Godrej Consumer with a target of Rs 211 in the long term, says Hitesh Agarwal of Angel Broking on CNBC TV18. The stock is currently trading at Rs 183, up 1.13% on the BSE.
BHEL has bagged order worth Rs 375 crore from Oman, reports CNBC TV18. The stock is currently trading at Rs 2134, up 1.27% on the BSE.
Buy Everest Kanto around Rs 200 with a short-term target of Rs 250, medium-term target of Rs 300 and stop loss of Rs 180, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 215, up 5.7% on the BSE.
he market continues to look good and trade higher. Sensex is trading at 15001, up 127 points and Nifty is at 4561, up 36 points from the previous close. CNX Midcap index is up 2.10% and BSE Smallcap index is up 3.06%. The market breadth is positive with advances at 1062 against declines of 193 on the NSE.
Buy Mindtree with a target of Rs 540 and keep a stop loss of Rs 370, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 462, up 3.5% on the BSE.
Buy CESC with a target of Rs 448 in 12 months, says Hitesh Agarwal of Angel Broking on CNBC TV18. The stock is currently trading at Rs 367, down 0.8% on the BSE.
There is a large liquidity push in emerging markets and a weak $ is keeping markets higher, says Amisha Vora of Prabhudas Liladhar on NDTV Profit. Market could see some profit booking after recent rally, she adds. Expect Sensex to breach 21000 on the upside by December 2010, she says.
Trying to make situation conducive for companies like FACT to improve production, says fertilizer secretary Atul Chaturvedi on CNBC TV18. Fertiliser subsidy to come down by Rs 60,000 crore this fiscal, he says. To save Rs 2500-3000 crore in FY10 on gas availability, he adds. Targetting re-opening of 4 plants, he says.
The momentum in the market to continue and take Nifty to 4700-4800, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. Not comfortable with valuations at current levels, he advises booking profits.
Buy Tata Tea with a target of Rs 790 and keep a stop loss of Rs 680, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 767, up 6.3% on the BSE.
Buy Sasken Communications with a target of Rs 130, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 122, up 5% on the BSE.
Buy Hindustan Zinc with a target of Rs 710 and keep a stop loss of Rs 560, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 663, up 2.42% on the BSE.
Sell Power Grid with a target of Rs 110 and keep a stop loss of Rs 122, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 120, up 0.8% on the BSE.
Buy Balrampur Chini with a target of Rs 110 and keep a stop loss of Rs 80, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 94, up 1.02% on the BSE.
Buy Bajaj Holding with a target of Rs 500 and stop loss of Rs 440, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 495, up 9% on the BSE.
Buy Syndicate Bank with a target of Rs 100 and stop loss of Rs 76, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 83, up 2% on the BSE.
Market has run ahead of its fundamentals, says Ajay Srivastava of Dimensions Consulting, on CNBC TV18. He advises booking profits in IT and banking sectors.
Buy ICICI Bank on any correction around Rs 650 for excellent long-term returns, says Prasad Kushe, technical analyst, on NDTV Profit. It has a target of Rs 5000-8000 in 5-7 years, he adds. The stock is currently trading at Rs 717, down 2.1% on the BSE.
Buy Reliance Communications with a target of Rs 430 and keep a stop loss of Rs 280, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 332, up 4% on the BSE.
Buy Essar Oil with a target of Rs 185-225-240 and keep a stop loss of Rs 145, says Prasad Kushe, technical analyst, on NDTV Profit. The stock is currently trading at Rs 181, up 8.4% on the BSE.
Buy JP Hydro with a target of Rs 93 and keep a stop loss of Rs 64, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 73, up 0.2% on the BSE.
Hold Alok Industries with a target of Rs 28-38-55, says Prasad Kushe, technical analyst, on NDTV Profit. The stock is currently trading at Rs 27, up 14% on the BSE.
Buy JP Associates with a target of Rs 380 and keep a stop loss of Rs 207, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 225, up 4% on the BSE.
Buy Sobha Developers with a target of Rs 250-290 and keep a stop loss of Rs 195, says Jatindra Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 224, up 10% on the BSE.
Buy FDC with a target of Rs 82-83 and keep a stop loss of Rs 38, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 46, up 3.2% on the BSE.
Buy Max India with a target of Rs 230, says Jatindra Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 204, up 4.2% on the BSE.
The market is now in a euphoric state and people need to book 10% profits every day, says Ashwani Gujral, technical analyst, on CNBC TV18. People should reduce their exposure as a dip could come any time now, he adds.
The market ends flat amid choppy trade and weak global cues. Midcaps and smallcaps outperform. Sensex closed at 14845, down 29 points (provisional) and Nifty is at 4520, down 4 points (provisional) from the previous close. CNX Midcap index was up 1.37% and BSE Smallcap index was up 1.99%. The market breadth was positive with advances at 888 against declines of 383 on the NSE.
Buy Aban Offshore with a target of Rs 1140 after which it can go to Rs 1450 and keep a stop loss of Rs 900, says Jatindra Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1110, up 15% on the BSE.
All bull markets normally see a correction so if there is a pause in this rally it would be healthy, says Prasad Kushe, technical analyst, on NDTV Profit. Sensex could correct to 14000 and Nifty to 4400-4300 where fresh buying would emerge, he says. Then the rally could go up again to 16150 on the Sensex and 4650 on the Nifty, he adds.
Buy REC International with a target of Rs 165 and stop loss of Rs 139, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 148, up 2.3% on the BSE.
Buy Chambal Fertilisers with a short-term target of Rs 76-80 and keep a stop loss of Rs 64, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 67, down 2.3% on the BSE.
Buy GNFC with a target of Rs 112 and stop loss of Rs 94, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 99, up 1.3% on the BSE.
Buy Bartronics with a short-term target of Rs 168, medium-term target of Rs 175 and keep a stop loss of Rs 138, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 158, up 1.7% on the BSE.
Buy Cipla with a target of Rs 245 and stop loss of Rs 217, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 229, up 3% on the BSE.
Buy TTML with a target of Rs 40-46 and keep a stop loss of Rs 32, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 35, down 0.8% on the BSE.
Buy Tata Steel with support at 340, target of Rs 525-580 and stop loss of Rs 385, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 482, up 1.8% on the BSE. » Send to friends
1:48 PM - Buy Tata Steel with a target of Rs 550 and stop loss of Rs 450, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 482, up 1.8% on the BSE.
Buy RPL on dips with a target of Rs 150 after which it will see fresh upside and keep a stop loss of Rs 130, says Simi Bhaumik, technical analyst, on Zee Business. The stock is currently trading at Rs 142, down 0.8% on the BSE.
Buy DLF with support at 380, target of Rs 422-555-580 and stop loss of Rs 320, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 412, up 2% on the BSE.
Buy GMR Infra with a target of Rs 190-250 and stop loss of Rs 115, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 175, up 1.3% on the BSE.
The market has run ahead of itself and is a liquidity driven rally, says Aditya Samant of ING Financial Planning, on NDTV Profit. The current rally could end in sideways consolidation which would be healthier for the market, he adds.
Buy ICICI Bank with support at 650-700, target of Rs 760-792 and stop loss of Rs 640, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 735, up 0.48% on the BSE.
Buy Rolta with a target of Rs 190-200 and stop loss of Rs 120, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 144, down 0.6% on the BSE.
Buy Ashok Leyland with support at 32-28, target of Rs 44 and stop loss of Rs 30, says Mandar Jamsandekar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 37, up 1.8% on the BSE.
Buy Satyam around Rs 60 with a target of Rs 100-115 and stop loss of Rs 52, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 67, up 6.8% on the BSE.
Buy Godrej Consumer with a target of Rs 211 in the long term, says Hitesh Agarwal of Angel Broking on CNBC TV18. The stock is currently trading at Rs 183, up 1.13% on the BSE.
BHEL has bagged order worth Rs 375 crore from Oman, reports CNBC TV18. The stock is currently trading at Rs 2134, up 1.27% on the BSE.
Buy Everest Kanto around Rs 200 with a short-term target of Rs 250, medium-term target of Rs 300 and stop loss of Rs 180, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 215, up 5.7% on the BSE.
he market continues to look good and trade higher. Sensex is trading at 15001, up 127 points and Nifty is at 4561, up 36 points from the previous close. CNX Midcap index is up 2.10% and BSE Smallcap index is up 3.06%. The market breadth is positive with advances at 1062 against declines of 193 on the NSE.
Buy Mindtree with a target of Rs 540 and keep a stop loss of Rs 370, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 462, up 3.5% on the BSE.
Buy CESC with a target of Rs 448 in 12 months, says Hitesh Agarwal of Angel Broking on CNBC TV18. The stock is currently trading at Rs 367, down 0.8% on the BSE.
There is a large liquidity push in emerging markets and a weak $ is keeping markets higher, says Amisha Vora of Prabhudas Liladhar on NDTV Profit. Market could see some profit booking after recent rally, she adds. Expect Sensex to breach 21000 on the upside by December 2010, she says.
Trying to make situation conducive for companies like FACT to improve production, says fertilizer secretary Atul Chaturvedi on CNBC TV18. Fertiliser subsidy to come down by Rs 60,000 crore this fiscal, he says. To save Rs 2500-3000 crore in FY10 on gas availability, he adds. Targetting re-opening of 4 plants, he says.
The momentum in the market to continue and take Nifty to 4700-4800, says Ambareesh Baliga of Karvy Stock Broking, on CNBC Awaaz. Not comfortable with valuations at current levels, he advises booking profits.
Buy Tata Tea with a target of Rs 790 and keep a stop loss of Rs 680, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 767, up 6.3% on the BSE.
Buy Sasken Communications with a target of Rs 130, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 122, up 5% on the BSE.
Buy Hindustan Zinc with a target of Rs 710 and keep a stop loss of Rs 560, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 663, up 2.42% on the BSE.
Sell Power Grid with a target of Rs 110 and keep a stop loss of Rs 122, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 120, up 0.8% on the BSE.
Buy Balrampur Chini with a target of Rs 110 and keep a stop loss of Rs 80, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 94, up 1.02% on the BSE.
Buy Bajaj Holding with a target of Rs 500 and stop loss of Rs 440, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 495, up 9% on the BSE.
Buy Syndicate Bank with a target of Rs 100 and stop loss of Rs 76, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 83, up 2% on the BSE.
Market has run ahead of its fundamentals, says Ajay Srivastava of Dimensions Consulting, on CNBC TV18. He advises booking profits in IT and banking sectors.
Monday, June 1, 2009
Brokerage Recommendations 1st June 2009
Brokerage Recommendations 1st June 2009
Buy Everonn System with a short-term target of Rs 375 and long-term target of Rs 550 and stop loss of Rs 310, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 344, up 3.9% on the BSE.
Buy Sesa Goa with a target of Rs 190-240 and stop loss of Rs 160, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 169, up 2% on the BSE.
Buy RIIL around Rs 1184 with a target of Rs 1450 and stop loss of Rs 1095, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 1164, up 4% on the BSE.
Buy Suzlon with a target of Rs 125 plus and keep a stop loss of Rs 85, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 113, up 16% on the BSE.
Buy Biocon Industries with a target of Rs 240-260 in 15 days and stop loss of Rs 175, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 185, up 2.4% on the BSE.
Buy Wipro with a target of Rs 417 and stop loss of Rs 390, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy. Buy Nifty June Futures with target of 4560 and stop loss of 4510, he adds.
Buy Crompton Greaves with a target of Rs 325 and stop loss of Rs 270, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.
In the banking space, buy BoI, PNB, SBI and BoB for good long-term gains, says Gaurang Shah of Geojit BNP Paribas, on NDTV Profit.
Buy Unitech around Rs 86 with a short-term target of Rs 108, medium-term target of Rs 152 and stop loss of Rs 72, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 92, up 15.2% on the BSE.
Buy Voltas with a target of Rs 135 plus and keep a stop loss of Rs 90, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 115, up 17% on the BSE.
Buy Praj Industries around Rs 111 with a short-term target of Rs 135, medium-term target of Rs 140 and stop loss of Rs 98, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 111, up 2.3% on the BSE.
Hold Satyam with a target of Rs 57-61-75 where one can exit and stop loss of Rs 52, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 56, up 6% on the BSE.
Buy Suzlon around Rs 109 with a short-term target of Rs 118, medium-term target of Rs 150-175 and stop loss of Rs 90, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 110, up 13.11% on the BSE.
The market is holding on to its gains and trading firm. Sensex is trading at 14830, up 208 points and Nifty is at 4525, up 76 points from the previous close. CNX Midcap index is up 2.32% and BSE Smallcap index is up 2.99%. The market breadth is positive with advances at 1010 against declines of 249 on the NSE.
Buy Sobha Developers with a target of Rs 203 and one can add more for long-term, keep a stop loss of Rs 195 (for long-term stop loss is Rs 188), says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 199, up 3.4% on the BSE.
Buy SAIL with a target of Rs 191 and stop loss of Rs 150, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. This is a fundamentally good stock and can be accumulated on dips for long-term gains and partial profits can be booked in rallies, he adds. The stock is currently trading at Rs 174, up 1% on the BSE.
Hold Indiabulls Real Estate with a target of Rs 270-320 and book partial profits at higher levels, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 252, up 2.5% on the BSE.
Buy Inox Leisure with a target of Rs 119 and stop loss of Rs 104, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 110, up 2.5% on the BSE.
Buy JP Associates with a target of Rs 245, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 212, up 2.3% on the BSE.
Buy Adlabs with a target of Rs 400 and stop loss of Rs 335, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 377, up 1.5% on the BSE.
Buy JP Hydro with a target of Rs 85-87, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 73, up 3.9% on the BSE.
Buy Reliance Communications with a target of Rs 340, says Hemant Thukral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 322, up 5.3% on the BSE.
The Asian markets had a good session and Euopean markets opened positive. Good global cues help our market power ahead. Sensex is trading at 14838, up 212 points and Nifty is at 4529, up 80 points from the previous close. CNX Midcap index is up 2.42% and BSE Smallcap index is up 2.82%. The market breadth is positive with advances at 1013 against declines of 250 on the NSE.
Buy Noida Toll Bridge with a target of Rs 48 and stop loss of Rs 39, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 41, up 4.3% on the BSE.
Buy Kesoram Industries with a target of Rs 320 and stop loss of Rs 300, says a technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 309, up 2% on the BSE.
Buy Taj GVK with a target of Rs 112 and stop loss of Rs 90, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 107, up 14% on the BSE.
Buy Apollo Hospitals around Rs 520 with a target of Rs 530-550, says Pankaj Pandey of ICICI Securities, on NDTV Profit. The stock is currently trading at Rs 522, up 1.8% on the BSE.
Buy Cairn India with a target of Rs 260 and keep a stop loss of Rs 227, says Salil Sharma of Kapoor & Sharma Company on NDTV Profit. The stock is currently trading at Rs 248, up 7% on the BSE.
The market may see some consolidation at higher levels around 14625 for the Sensex, says Pankaj Pandey of ICICI Securities, on NDTV Profit. If Sensex level of 14727 is broken the market is headed for 15580, he adds.
Buy Dewan Housing with a target of Rs 150, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 144, up 10% on the BSE.
Buy Tata Communications with a target of Rs 550 and stop loss of Rs 450, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 482, up 2.1% on the BSE.
Buy Suzlon with a target of Rs 125, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 104, up 7% on the BSE.
Voltas has bagged two orders worth Rs 300 crore, reports CNBC TV18. The stock is currently trading at Rs 109, up 11.9% on the BSE.
Buy RIL with a target of Rs 2360-2370, says Salil Sharma of Kapoor & Sharma Company on NDTV Profit. The stock is currently trading at Rs 2294, up 0.72% on the BSE.
Buy Lanco Infra with a target of Rs 425, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 360, down 2% on the BSE.
Buy Suzlon with a target of Rs 115 and stop loss of Rs 90, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 105, up 8% on the BSE.
Buy Voltas with a target of Rs 120, says Prakash Gaba and stop loss of Rs 94, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 108, up 11% on the BSE.
Buy GMR Infra with a target of Rs 200 and stop loss of Rs 155, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 167, up 1.7% on the BSE.
Buy Unitech with a target of Rs 100, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 82, up 4% on the BSE.
Buy Suzlon with a target of Rs 120, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 104, up 7% on the BSE.
Buy DLF with a target of Rs 450, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 420, up 4.1% on the BSE
Buy Everonn System with a short-term target of Rs 375 and long-term target of Rs 550 and stop loss of Rs 310, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 344, up 3.9% on the BSE.
Buy Sesa Goa with a target of Rs 190-240 and stop loss of Rs 160, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 169, up 2% on the BSE.
Buy RIIL around Rs 1184 with a target of Rs 1450 and stop loss of Rs 1095, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 1164, up 4% on the BSE.
Buy Suzlon with a target of Rs 125 plus and keep a stop loss of Rs 85, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 113, up 16% on the BSE.
Buy Biocon Industries with a target of Rs 240-260 in 15 days and stop loss of Rs 175, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 185, up 2.4% on the BSE.
Buy Wipro with a target of Rs 417 and stop loss of Rs 390, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy. Buy Nifty June Futures with target of 4560 and stop loss of 4510, he adds.
Buy Crompton Greaves with a target of Rs 325 and stop loss of Rs 270, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.
In the banking space, buy BoI, PNB, SBI and BoB for good long-term gains, says Gaurang Shah of Geojit BNP Paribas, on NDTV Profit.
Buy Unitech around Rs 86 with a short-term target of Rs 108, medium-term target of Rs 152 and stop loss of Rs 72, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 92, up 15.2% on the BSE.
Buy Voltas with a target of Rs 135 plus and keep a stop loss of Rs 90, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 115, up 17% on the BSE.
Buy Praj Industries around Rs 111 with a short-term target of Rs 135, medium-term target of Rs 140 and stop loss of Rs 98, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 111, up 2.3% on the BSE.
Hold Satyam with a target of Rs 57-61-75 where one can exit and stop loss of Rs 52, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 56, up 6% on the BSE.
Buy Suzlon around Rs 109 with a short-term target of Rs 118, medium-term target of Rs 150-175 and stop loss of Rs 90, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 110, up 13.11% on the BSE.
The market is holding on to its gains and trading firm. Sensex is trading at 14830, up 208 points and Nifty is at 4525, up 76 points from the previous close. CNX Midcap index is up 2.32% and BSE Smallcap index is up 2.99%. The market breadth is positive with advances at 1010 against declines of 249 on the NSE.
Buy Sobha Developers with a target of Rs 203 and one can add more for long-term, keep a stop loss of Rs 195 (for long-term stop loss is Rs 188), says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 199, up 3.4% on the BSE.
Buy SAIL with a target of Rs 191 and stop loss of Rs 150, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. This is a fundamentally good stock and can be accumulated on dips for long-term gains and partial profits can be booked in rallies, he adds. The stock is currently trading at Rs 174, up 1% on the BSE.
Hold Indiabulls Real Estate with a target of Rs 270-320 and book partial profits at higher levels, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 252, up 2.5% on the BSE.
Buy Inox Leisure with a target of Rs 119 and stop loss of Rs 104, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 110, up 2.5% on the BSE.
Buy JP Associates with a target of Rs 245, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 212, up 2.3% on the BSE.
Buy Adlabs with a target of Rs 400 and stop loss of Rs 335, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 377, up 1.5% on the BSE.
Buy JP Hydro with a target of Rs 85-87, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 73, up 3.9% on the BSE.
Buy Reliance Communications with a target of Rs 340, says Hemant Thukral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 322, up 5.3% on the BSE.
The Asian markets had a good session and Euopean markets opened positive. Good global cues help our market power ahead. Sensex is trading at 14838, up 212 points and Nifty is at 4529, up 80 points from the previous close. CNX Midcap index is up 2.42% and BSE Smallcap index is up 2.82%. The market breadth is positive with advances at 1013 against declines of 250 on the NSE.
Buy Noida Toll Bridge with a target of Rs 48 and stop loss of Rs 39, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 41, up 4.3% on the BSE.
Buy Kesoram Industries with a target of Rs 320 and stop loss of Rs 300, says a technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 309, up 2% on the BSE.
Buy Taj GVK with a target of Rs 112 and stop loss of Rs 90, says Anil Singhvi, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 107, up 14% on the BSE.
Buy Apollo Hospitals around Rs 520 with a target of Rs 530-550, says Pankaj Pandey of ICICI Securities, on NDTV Profit. The stock is currently trading at Rs 522, up 1.8% on the BSE.
Buy Cairn India with a target of Rs 260 and keep a stop loss of Rs 227, says Salil Sharma of Kapoor & Sharma Company on NDTV Profit. The stock is currently trading at Rs 248, up 7% on the BSE.
The market may see some consolidation at higher levels around 14625 for the Sensex, says Pankaj Pandey of ICICI Securities, on NDTV Profit. If Sensex level of 14727 is broken the market is headed for 15580, he adds.
Buy Dewan Housing with a target of Rs 150, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 144, up 10% on the BSE.
Buy Tata Communications with a target of Rs 550 and stop loss of Rs 450, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 482, up 2.1% on the BSE.
Buy Suzlon with a target of Rs 125, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 104, up 7% on the BSE.
Voltas has bagged two orders worth Rs 300 crore, reports CNBC TV18. The stock is currently trading at Rs 109, up 11.9% on the BSE.
Buy RIL with a target of Rs 2360-2370, says Salil Sharma of Kapoor & Sharma Company on NDTV Profit. The stock is currently trading at Rs 2294, up 0.72% on the BSE.
Buy Lanco Infra with a target of Rs 425, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 360, down 2% on the BSE.
Buy Suzlon with a target of Rs 115 and stop loss of Rs 90, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 105, up 8% on the BSE.
Buy Voltas with a target of Rs 120, says Prakash Gaba and stop loss of Rs 94, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 108, up 11% on the BSE.
Buy GMR Infra with a target of Rs 200 and stop loss of Rs 155, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 167, up 1.7% on the BSE.
Buy Unitech with a target of Rs 100, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 82, up 4% on the BSE.
Buy Suzlon with a target of Rs 120, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 104, up 7% on the BSE.
Buy DLF with a target of Rs 450, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 420, up 4.1% on the BSE
BSE / NSE Shares analysis 1st June 2009
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.
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.
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.
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