Brokerage Recommendations 28th May 2009
Exit McLeod Russel on any rally, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is at Rs 96.30, down 2.4% on the BSE.
Hold Eleconn Engineering with stop loss of Rs 75, says Hormuz Maloo, technical analyst with Geojit Financial Services, on CNBC Awaaz. The stock is at Rs 87.30, up 6.1% on the BSE.
Buy Bharti Airtel with target of Rs 860, says Nishant Jain of Tradeswift on CNBC Awaaz. Keep stop loss of Rs 760, he adds. The stock is at Rs 795.20, up 3.4% on the BSE.
Stay long in JP Associates with target of Rs 225, says Ashwani Gujral, technical analyst, on CNBC TV18, as market closing strategy. Keep stop loss of Rs 180, he adds. The stock is currently trading at Rs 192.35, up 1.2% on the BSE.
Buy Bharti Airtel with target of Rs 845, says Prakash Gaba, technical analyst, on CNBC Awaaz, as market closing strategy. Keep stop loss of Rs 785, he adds. The stock is currently trading at Rs 795.25, up 3.4% on the BSE.
Stay long in the Nifty with target of 4420 and stop loss of 4304, says Rajat Bose, technical analyst, on CNBC Awaaz, as market closing strategy.
Exit TVS Motors at Rs 50 and instead buy Tata Motors on dips, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 45.30, up 2.8% on the BSE.
Hold Kalpataru Power which is a good stock to be invested in, says a market expert of Karvy Broking on CNBC Awaaz. The stock is currently trading at Rs 701.60, up 0.6% on the BSE.
Hold BL Kashyap with stop loss of Rs 341, says Hormuz Maloo of Geojit BNP Paribas, on CNBC Awaaz. The stock is currently trading at Rs 398, up 5.2% on the BSE.
Buy Reliance Capital with a target of Rs 1040, says Nishant Jain of Tradeswift on CNBC Awaaz. Keep stop loss of Rs 910, he adds. The stock is currently trading at Rs 940, up 2.2% on the BSE.
Hold Purvankara Projects with stop loss of Rs 90, says Hormuz Maloo of Geojit BNP Paribas, on CNBC Awaaz. The stock is currently trading at Rs 102, up 4.96% on the BSE.
The market will see volatility and weakness towards late afternoon amid immense selling pressure because of F&O expiry, says Jagdish Thakkar of Fortune Fiscal on Zee Business.
Buy ETC Network with target of Rs 150, says Nishant Jain of Tradeswift on CNBC Awaaz. Keep stop loss of Rs 94, he adds. The stock is currently trading at Rs 108, up 0.6% on the BSE.
Quantitative easing by central banks across the world has fuelled this rally and further policy action would pump in a lot of money into the economy, says Manoj Pradhan of Morgan Stanley on CNBC TV18. Liquidity was at the crux of support for asset classes and India could be one of the beneficiaries in this supply of liquidity and increase in risk appetite, he added.
The market is trading choppy amid some selling pressure. Sensex is trading at 14340, up 230 points from its previous close, and Nifty is at 4341, up 65 points. CNX Midcap index is up 0.8% and BSE Smallcap index is up 0.8%. The market breadth is positive with advances at 767 against declines of 492 on the NSE.
Buy Suzlon Energy above Rs 95 with target of Rs 120, says Nishant Jain of Tradeswift on CNBC Awaaz. Keep stop loss of Rs 80, he adds. The stock is currently trading at Rs 91.85, up 2.3% on the BSE.
Hold RNRL with target of Rs 105, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep trailing stop loss of Rs 70, he adds. It has good support at Rs 75, he says. The stock is currently trading at Rs 81.10, down 1% on the BSE.
Buy Cairn India, Tata Elexi, Kale Consultants and UTV Software for long-term gains, says Salil Sharma of Kapoor & Sharma Company on Zee Business.
HEM Securities maintains a buy call on Adlabs Films with target of Rs 362, reports CNBC Awaaz. Keep stop loss of Rs 315, it adds. The stock is currently trading at Rs 332, down 0.2% on the BSE.
Hold Essar Oil with target of Rs 200, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 175, he adds. The stock is currently trading at Rs 177.50, down 0.5% on the BSE.
Book profits in cement stocks on every rally, says Hitesh Agarwal of Angel Broking on CNBC Awaaz.
Exit Parsvnath Developers and instead invest in telecom, engineering services and banking stocks, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 93.30, down 2.2% on the BSE.
Hold NIIT with target of Rs 80-85, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep trailing stop loss of Rs 45, he adds. It has good support at Rs 75, he says. The stock is currently trading at Rs 50.10, down 1.3% on the BSE.
The market continues to trade firm amid volatility on settlement day. Earlier, the European markets opened weak and are now trading quiet. Sensex is trading at 14306, up 196 points from its previous close, and Nifty is at 4335, up 59 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.7%. The market breadth is positive with advances at 750 against declines of 500 on the NSE.
Hold Jindal Steel & Power with target of Rs 2250, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1950, he adds. The stock is currently trading at Rs 2099, up 0.9% on the BSE.
Hold Aurobindo Pharma with stop loss of Rs 325, says PK Agarwal of Bonanza Portfolio on Zee Business. Medium-to-long term target for this stock is Rs 500, he adds. The stock is currently trading at Rs 379, down 1.2% on the BSE.
Hold Reliance Communications with stop loss of Rs 290, says Ramesh Arora, technical analyst, on Zee Business. It has resistance at Rs 310 crossing which it can go up to Rs 340, he adds. The stock is currently trading at Rs 309, up 1.6% on the BSE.
Hold Idea Cellular with target of Rs 85-88, says Hemant Thukral of Asian Market Securities on CNBC TV18. The stock is currently trading at Rs 77.65, down 1.5% on the BSE.
Hold Videocon with target of Rs 190-200, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 140, he adds. The stock is currently trading at Rs 165.05, down 2.4% on the BSE.
Hold Cairn India with medium-term target of Rs 240, says Rahul Mohinder, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 205, he adds. The stock is currently trading at Rs 219.65, up 0.1% on the BSE.
The market at noon appears to be coming off the day's low very marginally, ahead of the F&O settlement today. Sensex is trading at 14256, up 146 points from its previous close, and Nifty is at 4316, up 40 points. CNX Midcap index is up 0.1% and BSE Smallcap index is up 0.1%. The market breadth is positive with advances at 644 against declines of 582 on the NSE.
WPI for all commodities is up 0.1% at 232.2(WoW), reports NDTV Profit. Primary Articles Index is up marginally, Manufactured Products Index up 0.1% at 203.5(WoW) and Fuel Index is up 0.1%(WoW), it adds.
The inflation figure for the week ended May 16 has been announced at 0.61%, unchanged from last week, reports NDTV Profit.
Hold DLF with target of Rs 400-420, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 369, up 1% on the BSE.
Hold HDFC Bank with short-term target of Rs 1500, says PK Agarwal of Bonanza Portfolio on Zee Business. Keep stop loss of Rs 1315, he adds. The stock is currently trading at Rs 1401, down 0.5% on the BSE.
Both traders and investors can buy Idea Cellular on dips, says Sudarshan Sukhani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 77.40, down 1.8% on the BSE.
Hold Arvind with medium-term target of Rs 37-38, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 30.55, down 3.9% on the BSE.
Buy IVRCL at Rs 200-225, says Hitesh Agarwal of Angel Broking on CNBC Awaaz. The stock is currently trading at Rs 288, down 0.2% on the BSE.
Hold Reliance Power with stop loss of Rs 172, says Ramesh Arora, technical analyst, on Zee Business. It has resistance at Rs 185 crossing which it can go up to Rs 235, he adds. The stock is currently trading at Rs 179.05, up 0.3% on the BSE.
Buy JP Associates with target of Rs 207-233, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 176, he adds. The stock is currently trading at Rs 190.50, up 0.1% on the BSE.
An hour into opening, the market is trading steady, ahead of the F&O settlement today. Sensex is trading at 14272, up 163 points from its previous close, and Nifty is at 4323, up 47 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 0.9%. The market breadth is positive with advances at 779 against declines of 413 on the NSE.
Buy Suzlon Energy with trailing stop loss of Rs 84, says Ramesh Arora, technical analyst, on Zee Business. It has resistance at Rs 90-95 crossing which it can go up to Rs 107, he adds. The stock is currently trading at Rs 92.10, up 2.6% on the BSE.
Hold Tata Motors with short-term target of Rs 360, says Rahul Mohinder, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 327, he adds. The stock is currently trading at Rs 343.90, up 0.1% on the BSE.
Book profits in SAIL, says Hitesh Agarwal of Angel Broking on CNBC Awaaz. The stock is currently trading at Rs 154.60, up 0.3% on the BSE.
I expect the Nifty to expire at 4220-4330 with higher chances of an expiry at the lower end of this band as there may be lack of buying today, says Yogesh Radke of Edelweiss Securities on CNBC TV18. He adds that telecom stocks have seen strong rollovers, while banks have been weak. He sees support for the Nifty at 3800 and 4000 in June series and believes that IVs (implied volatility) are likely to remain low.
Buy TCS with target of Rs 690, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 625, he adds. The stock is currently trading at Rs 651.10, up 0.9% on the BSE.
Buy Alkali Metals with intra-day target of Rs 350, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 310, he adds. The stock is currently trading at Rs 330, up 3.1% on the BSE.
Buy GSPL at Rs 57 with target of Rs 62, says VK Sharma of Anagram Stock Broking on CNBC TV18. Keep stop loss of Rs 55.50, he adds. The stock is currently trading at Rs 60.05, up 3.8% on the BSE.
Buy Sintex Industries with intra-day target of Rs 235, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 222, he adds. The stock is currently trading at Rs 226, up 0.1% on the BSE.
Buy Idea Cellular with intra-day target of Rs 85, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 77.20, down 2.1% on the BSE.
Buy Infosys at Rs 1588 with target of Rs 1610, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1555, she adds. The stock is currently trading at Rs 1596.25, up 0.7% on the BSE.
The market opens on a flat note in the steps of mixed global cues. Today is the day of F&O expiry. Most Asian markets are closed today. Sensex is trading at 14115, up 5 points from its previous close, and Nifty is at 4274, down 2 points. CNX Midcap index is up 0.6% and BSE Smallcap index is up 1%. The market breadth is positive with advances at 562 against declines of 114 on the NSE.
Buy Escorts with intra-day target of Rs 66, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 61, he adds. The stock is at Rs 62.90, up 7.2% on the BSE.
Buy JP Associates at Rs 190 with target of Rs 195, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 183, she adds. The stock is at Rs 190.30, up 6.6% on the BSE.
Showing posts with label Learn Investing in NSE. Show all posts
Showing posts with label Learn Investing in NSE. Show all posts
Thursday, May 28, 2009
BSE / NSE Shares Analysis for 28th May 2009
BSE / NSE Shares Analysis for 28th May 2009
Automobile stocks Tata Motors, Maruti Suzuki and Hero Honda can be bought at sharp declines.
These stocks may remain a bit slippery in the near term, but their long term prospects remain quite bright. One should be prepared to wait for 2 - 3 years for fairly strong gains on investments in these stocks.
Realty stocks may see some upside in the next 3 - 6 months. However, one has to remain quite selective with regard to fresh buying in this space. Shares of companies with a proven track record should be identified for modest exposure at current levels.
Praj Industries, Thermax, Areva and Punj Lloyd are stocks for long term. These stock can see some upside in the near run, but are likely to go through some weak spells as well. One holding these stocks with a long term plan can stay invested and look at buying more in small quantities at sharp dips. Last message received on 5/28 at 2:45 PM balakumar subramanian:
One looking at long term can buy Syndicate Bank (Rs 79.70) at 5 - 10% down from current levels. One holding the stock can stay invested with a stop loss around Rs 60 - 63 levels.
UCO Bank, Andhra Bank, Indian Bank, IOB and Union Bank of India can also be picked up at sharp falls.
JSW Steel has vaulted over 12% to Rs 580 today on reports the company is planning to raise around $ 100 billion to fund its expansion and reduce debt. In a communication to BSE, the company has stated that it plans to raise $1 billion (Rs 4,767 crore) to part finance the company's capex and for other general corporate purposes including reducing the leverage. They will raise the additional long term resources through issuance of qualified institutional placement, foreign currency convertible bonds, GDRs, ADRs, warrants or equity shares.
PSU steel maker SAIL has posted a net profit of Rs 14866.80 million for the quarter ended March 31, 2009 as compared to Rs 23767.60 million for the quarter ended March 31, 2008. Total Income has decreased from Rs 138569.50 million for the quarter ended March 31, 2008 to Rs 125901.20 million for the quarter ended March 31, 2009. The stock, a Nifty component, is up nearly 7% at Rs 164.75 now. Last week, the stock had touched a 52-week high of Rs 181.80. It had plunged to Rs 55.25 in mid November 2008.
European market are trading weak and the U.S. index futures are also trending lower. Still, the Indian market remains positive with metal, capital goods, oil and PSU stocks trading firm with sharp gains. Bank stocks remain quite subdued today. FMCG, pharma and power sectors witness stock specific action.
Mahindra & Mahindra has posted a net profit of Rs 4180.70 million for the quarter ended March 31, 2009 as compared to Rs 2211.00 million for the quarter ended March 31, 2008. Total income has increased from Rs 31754.50 million for the quarter ended March 31, 2008 to Rs 37158.80 million for the quarter ended March 31, 2009. The stock, up by over 5% at Rs 657 now, is likely to face some resistance near Rs 685.
A decisive breakout there can take the stock to Rs 750 or even higher in the short run.
1:05 PM: Larsen & Toubro has posted a profit after tax of Rs 9985.20 million for the quarter ended March 31, 2009 as compared to Rs 9667.60 million for the quarter ended March 31, 2008. Total Income has increased from Rs 87372.10 million for the quarter ended March 31, 2008 to Rs 108357.90 million for the quarter ended March 31, 2009.
The stock is up 3.75% at Rs 1360 now.
The United Nations has forecast the world economy to shrink 2.6 per cent in 2009, downgrading the already-pessimistic estimate made five months ago. According to a report from the world body, the world economy is expected to shrink by 2.6 per cent in 2009, according to the pessimistic scenario of the forecast presented in January.. In January, the UN had forecast that the world economy would shrink 0.5 per cent this year.
Coromandel Fertilisers has signed a Joint Venture Agreement with M/s. Soquimich European Holdings BV, Netherlands, a subsidiary of SQM, Chile, for setting up of 15000 MT Water Soluble Fertilisers (NPK Grades) plant at Kakinada at a total investment of Rs 100 Million.
Infrastructure companies are likely to see some strong rallies in the near to medium term. The government's thrust on infrastructure development and the likelihood of market regulator SEBI relaxing certain fund raising norms for the sector are likely to aid the sentiment towards these stocks.
LIC Housing Finance hit a new high at Rs 500 today. The stock has some more steam left in it and one looking for some strong gains can try this stock even at current levels. Short term players can book profits at rallies and re-enter later at declines.
TCS (Rs 652) can move on to Rs 725 and a strong breakout there can lift the stock to Rs 800 or even higher. One holding the stock with a long term view can stay invested with a stop loss near Rs 550 for now.
Wockhardt is reported to be in advanced talks to sell its German business, Espharma GmbH, to another German player, Lindopharm GmbH. The stock, traded at Rs 125 at present, can move up a bit in the near run. One with a good appetite for risk can try this stock at current levels and have a stop loss in place near Rs 105.
TN Newsprint & Papers (cmp Rs 83.50) can be retained for long term. The stock may not give very high returns but the downside risk for it quite limited. One can expect the stock to rise by around 10 - 12% over the next couple of months.
The market opened on a cautious note this morning amid weak global cues. The Sensex rose to 11,476.71 but has slipped to 14,106.27 now, netting a loss of 3.37 points. The Nifty is down marginally at 4274.85 after moving on to a high of 4295.50 at the bell.
Reliance Infra, ONGC, Hindalco, HDFC Bank, BHEL and SBI have declined sharply. RIL, NTPC, ITC, DLF, ACC and M&M have posted notable gains.
The market is likely to remain cautious today. Though there will be a negative bias initially, some buying at lower levels later on in the session is not ruled out. A moderate to high degree of volatility is in the offing.
Realty and bank stocks may see some sell-off after recent strong gains. Metal and capital goods stocks are also likely to face some pressure. However, buying at lower levels is not ruled out. Information technology stocks are likely to remain subdued.
BHEL has posted a net profit of Rs 1,347.47 crore for the quarter ended March 31, 2009 as compared to Rs 1,110.87 crore it had recorded for the quarter ended March 31, 2008. Total income has increased from Rs 7,626.20 crore for the quarter ended March 31, 2008 to Rs 11,047.24 crore for the quarter ended March 31, 2009. The stock is likely to find fairly good support at lower levels.
Jindal Steel may see some buying thanks to a sharp jump in the company's net profit for the year ended March 31, 2009. The company has posted a net profit of Rs 1,536.48 crore for the year ended March 31, 2009 as compared to Rs 1,236.96 crore for the year ended March 31, 2008.
It will be a highly slippery ride for shares of Cairn India today following weak numbers posted by the company for the quarter ended 31 March 2009. The firm has posted a net loss of Rs 16.90 crore for the quarter ended March 31, 2009 as compared to a net loss of Rs 8.73 crore for the quarter ended March 31, 2008.
Reliance Industries has explored two more gas reserves which are close to D-6 in the Krishna-Godavari basin, with estimates putting the natural gas reserves at 20 trillion cubic feet.
Larsen & Toubro, SAIL, Mahindra & Mahindra, Tata Power, Chennai Petroleum Corporation, Dalmia Cement, Gokaldas Exports, GMDC, Ipca Labs, Karur Vysya Bank, Nagarjuna Construction, Swaraj Mazda and Tata Chemicals will be announcing their quarterly results today.
The market had rallied on strong global cues and on expectations the government would do all its best to boost the sagging economy through Union Budget that is to be presented early July.
But the sentiment is likely to turn weak this morning following a negative close on Wall Street and weakness in Asian markets with concerns over the pace of economic recovery returning to haunt investor sentiment. Rising treasury yields and none too encouraging home sales data triggered heavy selling on Wall Street yesterday and the imminent bankruptcy of auto major General Motors too weighed in.
Action in the F&O segment due to expiry of May series derivatives contracts will have an impact in the cash market.
Automobile stocks Tata Motors, Maruti Suzuki and Hero Honda can be bought at sharp declines.
These stocks may remain a bit slippery in the near term, but their long term prospects remain quite bright. One should be prepared to wait for 2 - 3 years for fairly strong gains on investments in these stocks.
Realty stocks may see some upside in the next 3 - 6 months. However, one has to remain quite selective with regard to fresh buying in this space. Shares of companies with a proven track record should be identified for modest exposure at current levels.
Praj Industries, Thermax, Areva and Punj Lloyd are stocks for long term. These stock can see some upside in the near run, but are likely to go through some weak spells as well. One holding these stocks with a long term plan can stay invested and look at buying more in small quantities at sharp dips. Last message received on 5/28 at 2:45 PM balakumar subramanian:
One looking at long term can buy Syndicate Bank (Rs 79.70) at 5 - 10% down from current levels. One holding the stock can stay invested with a stop loss around Rs 60 - 63 levels.
UCO Bank, Andhra Bank, Indian Bank, IOB and Union Bank of India can also be picked up at sharp falls.
JSW Steel has vaulted over 12% to Rs 580 today on reports the company is planning to raise around $ 100 billion to fund its expansion and reduce debt. In a communication to BSE, the company has stated that it plans to raise $1 billion (Rs 4,767 crore) to part finance the company's capex and for other general corporate purposes including reducing the leverage. They will raise the additional long term resources through issuance of qualified institutional placement, foreign currency convertible bonds, GDRs, ADRs, warrants or equity shares.
PSU steel maker SAIL has posted a net profit of Rs 14866.80 million for the quarter ended March 31, 2009 as compared to Rs 23767.60 million for the quarter ended March 31, 2008. Total Income has decreased from Rs 138569.50 million for the quarter ended March 31, 2008 to Rs 125901.20 million for the quarter ended March 31, 2009. The stock, a Nifty component, is up nearly 7% at Rs 164.75 now. Last week, the stock had touched a 52-week high of Rs 181.80. It had plunged to Rs 55.25 in mid November 2008.
European market are trading weak and the U.S. index futures are also trending lower. Still, the Indian market remains positive with metal, capital goods, oil and PSU stocks trading firm with sharp gains. Bank stocks remain quite subdued today. FMCG, pharma and power sectors witness stock specific action.
Mahindra & Mahindra has posted a net profit of Rs 4180.70 million for the quarter ended March 31, 2009 as compared to Rs 2211.00 million for the quarter ended March 31, 2008. Total income has increased from Rs 31754.50 million for the quarter ended March 31, 2008 to Rs 37158.80 million for the quarter ended March 31, 2009. The stock, up by over 5% at Rs 657 now, is likely to face some resistance near Rs 685.
A decisive breakout there can take the stock to Rs 750 or even higher in the short run.
1:05 PM: Larsen & Toubro has posted a profit after tax of Rs 9985.20 million for the quarter ended March 31, 2009 as compared to Rs 9667.60 million for the quarter ended March 31, 2008. Total Income has increased from Rs 87372.10 million for the quarter ended March 31, 2008 to Rs 108357.90 million for the quarter ended March 31, 2009.
The stock is up 3.75% at Rs 1360 now.
The United Nations has forecast the world economy to shrink 2.6 per cent in 2009, downgrading the already-pessimistic estimate made five months ago. According to a report from the world body, the world economy is expected to shrink by 2.6 per cent in 2009, according to the pessimistic scenario of the forecast presented in January.. In January, the UN had forecast that the world economy would shrink 0.5 per cent this year.
Coromandel Fertilisers has signed a Joint Venture Agreement with M/s. Soquimich European Holdings BV, Netherlands, a subsidiary of SQM, Chile, for setting up of 15000 MT Water Soluble Fertilisers (NPK Grades) plant at Kakinada at a total investment of Rs 100 Million.
Infrastructure companies are likely to see some strong rallies in the near to medium term. The government's thrust on infrastructure development and the likelihood of market regulator SEBI relaxing certain fund raising norms for the sector are likely to aid the sentiment towards these stocks.
LIC Housing Finance hit a new high at Rs 500 today. The stock has some more steam left in it and one looking for some strong gains can try this stock even at current levels. Short term players can book profits at rallies and re-enter later at declines.
TCS (Rs 652) can move on to Rs 725 and a strong breakout there can lift the stock to Rs 800 or even higher. One holding the stock with a long term view can stay invested with a stop loss near Rs 550 for now.
Wockhardt is reported to be in advanced talks to sell its German business, Espharma GmbH, to another German player, Lindopharm GmbH. The stock, traded at Rs 125 at present, can move up a bit in the near run. One with a good appetite for risk can try this stock at current levels and have a stop loss in place near Rs 105.
TN Newsprint & Papers (cmp Rs 83.50) can be retained for long term. The stock may not give very high returns but the downside risk for it quite limited. One can expect the stock to rise by around 10 - 12% over the next couple of months.
The market opened on a cautious note this morning amid weak global cues. The Sensex rose to 11,476.71 but has slipped to 14,106.27 now, netting a loss of 3.37 points. The Nifty is down marginally at 4274.85 after moving on to a high of 4295.50 at the bell.
Reliance Infra, ONGC, Hindalco, HDFC Bank, BHEL and SBI have declined sharply. RIL, NTPC, ITC, DLF, ACC and M&M have posted notable gains.
The market is likely to remain cautious today. Though there will be a negative bias initially, some buying at lower levels later on in the session is not ruled out. A moderate to high degree of volatility is in the offing.
Realty and bank stocks may see some sell-off after recent strong gains. Metal and capital goods stocks are also likely to face some pressure. However, buying at lower levels is not ruled out. Information technology stocks are likely to remain subdued.
BHEL has posted a net profit of Rs 1,347.47 crore for the quarter ended March 31, 2009 as compared to Rs 1,110.87 crore it had recorded for the quarter ended March 31, 2008. Total income has increased from Rs 7,626.20 crore for the quarter ended March 31, 2008 to Rs 11,047.24 crore for the quarter ended March 31, 2009. The stock is likely to find fairly good support at lower levels.
Jindal Steel may see some buying thanks to a sharp jump in the company's net profit for the year ended March 31, 2009. The company has posted a net profit of Rs 1,536.48 crore for the year ended March 31, 2009 as compared to Rs 1,236.96 crore for the year ended March 31, 2008.
It will be a highly slippery ride for shares of Cairn India today following weak numbers posted by the company for the quarter ended 31 March 2009. The firm has posted a net loss of Rs 16.90 crore for the quarter ended March 31, 2009 as compared to a net loss of Rs 8.73 crore for the quarter ended March 31, 2008.
Reliance Industries has explored two more gas reserves which are close to D-6 in the Krishna-Godavari basin, with estimates putting the natural gas reserves at 20 trillion cubic feet.
Larsen & Toubro, SAIL, Mahindra & Mahindra, Tata Power, Chennai Petroleum Corporation, Dalmia Cement, Gokaldas Exports, GMDC, Ipca Labs, Karur Vysya Bank, Nagarjuna Construction, Swaraj Mazda and Tata Chemicals will be announcing their quarterly results today.
The market had rallied on strong global cues and on expectations the government would do all its best to boost the sagging economy through Union Budget that is to be presented early July.
But the sentiment is likely to turn weak this morning following a negative close on Wall Street and weakness in Asian markets with concerns over the pace of economic recovery returning to haunt investor sentiment. Rising treasury yields and none too encouraging home sales data triggered heavy selling on Wall Street yesterday and the imminent bankruptcy of auto major General Motors too weighed in.
Action in the F&O segment due to expiry of May series derivatives contracts will have an impact in the cash market.
Closing Bell 28th May 2009
Closing Bell 28th May 2009
The Indian markets recorded another strong day today, possibly taking cues from their Asian peers and hopes of an improved economic and political climate. Among the key Asian markets, Hong Kong and China led the pack of gainers with 5% and 2% gains respectively. Among Indian stocks, those from the metal and realty sectors gained ground while the ones from the pharma and FMCG sectors fell.
The BSE-Sensex and the NSE-Nifty closed with gains of around 185 points (1.3%) and 60 points (1.4%) respectively. The BSE-Midcap and BSE-Smallcap indices were up by 0.9% and 0.2% respectively. Rupee was trading at 47.65 to the US dollar at the time of writing.
L&T announced results today. Its standalone and consolidated sales grew by 35% YoY and 38% YoY respectively during FY09. Higher construction material costs and subcontracting charges led to a 0.2% YoY contraction in consolidated operating margins during the fiscal. Margins on a standalone basis contracted by 0.7% YoY. Consolidated net profits (excluding extraordinary items) grew by 31% YoY during FY09. Sharp increase in interest expenses though took some sheen off the bottomline. The company’s board recommended a final dividend of Rs 10.5 per share. The company’s E&C segment’s consolidated order backlog stood at Rs 703 bn at the end of March 2009, which is 2.2 times the consolidated sales of the segment in FY09.
The stock of Novartis ended on a strong note on the back of reports that the parent Novartis AG which holds around 51% in the company is likely to revise its open offer price upwards. It is believed that open offer price that was earlier Rs 351 will be revised to a range of Rs 425 and Rs 450 a share. The buyback open offer to increase the parent company’s holding to 90% started on 20th May and will close on the 8th of June.
The United Nations has gotten more pessimistic about the growth of the global economy. In January, the UN had estimated the world economy to shrink by 0.5% during the year 2009. However, it has now revised its estimates downwards, estimating a 2.6% fall instead. A UN spokesperson stated that they are yet to see any positive signals of revival in the economy. However, the organisation has also stated that with a coordinated, development-oriented policy scenario, the world economy would recover to an annual growth of 4% to 5% in 2010 to 2015.
The Indian markets continued to surge further during the previous two hours of trade on the back of continued buying activity among the index heavyweights. Currently, stocks from the metals, auto and pharma sectors are leading the pack of gainers, while select telecom and power stocks are trading weak. The overall advance to decline ratio is poised at 1.8 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 160 points and 50 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 0.6% and 0.4% respectively. The rupee is trading at 47.69 to the dollar.
As per a leading business daily, Godrej Consumer has acquired 49% stake in Godrej Sara Lee. This is possible on account of the merger of Godrej ConsumerBiz Private (GCBPL) and Godrej Hygiene Care Private (GHCPL) with the company. These companies together hold 49% stake in Godrej Sara Lee. Godrej Sara Lee is the market leader in household insecticides, air care and hair cream segment with around Rs 2 bn in revenues. The proposed consolidation would strengthen the company’s position in the FMCG market and will scale its ability to pursue growth opportunities. The merger will consolidate the promoters’ holding in Godrej Consumer from 69.7% to 74.8%. Further, the company will also be eyeing Sara Lee’s 51% stake, as the latter is reportedly in talks to sell its global household and personal care portfolios to focus on its core business of food and beverages. The stock of Godrej Consumer is trading firm, while Dabur is in the red.
Auto stocks are trading mixed. While M&M is trading firm, Tata Motors and Ashok Leyland are in the red. As per a leading business daily, Tata Motors has completed its final obligation for the US$ 3 bn bridge loans, which it had taken a year earlier for financing the Jaguar Land Rover acquisition. As such, the company has been able to extend the final maturity of US$ 1 bn by over 18 months to December 2010, while the other obligations were met through a mix of bond issue, rights issue and the proceeds from the divestment. It may be noted that despite the economic crisis globally, which resulted in liquidity tightening, Tata Motors has been able to refinance its loan obligations.
The Indian markets gained further ground during the previous two hours of trade on account of sustained buying activity. Stocks from the steel, engineering and auto are leading the pack of gainers, while select stocks from the telecom, power and energy are trading lower. The overall advance to decline ratio is poised at 1.7 to 1 on the BSE.
The BSE Sensex and NSE Nifty are trading higher, up by around 150 points and 45 points respectively. The BSE Midcap and BSE Smallcap indices are trading higher by 0.5% and 0.3% respectively. The rupee is trading at 47.80 to the dollar.
Energy stocks are trading mixed. While Reliance Industries and ONGC are trading higher, HPCL and BPCL are trading lower. As per a leading business daily, Reliance Industries (RIL) has discovered 20 trillion cubic feet (tcf) of natural gas reserves in D-3 and D-6 blocks of the KG basin. The estimates are from UK based Hardy Oil and gas which has 10% stake in these blocks. RIL has the remaining stake. It may be noted that RIL also owns the D-6 block in the same fields, which is estimated to hold up to 50 tcf of gas reserves and 143 m barrels of oil. This is positive development for the Indian natural gas industry in general and RIL in particular as it creates another significant source of revenue.
Pharma stocks are trading mixed. While Ranbaxy and Sun Pharma are trading higher, Wockhardt is trading lower. As per a leading business daily, Wockhardt is likely to sell its German business Espharma GmbH in order to raise cash. It is believed that the company is in talks with Lindopharm GmbH, a Germany based company for the same. However, the size of the deal has not been disclosed. It may be noted that Wockhardt acquired Espharma for US$ 11 m in 2004. However, the company has been facing problems to service its debt of Rs 30 bn. Also, the dynamics of the German market which has changed from branded generics to unbranded generics and the pricing pressure is taking a heavy toll on Espharma.
In line with its Asian peers, the Indian markets have started the day on a positive note. Software, energy, engineering and power stocks are trading firm, while select telecom and banking stocks are in the red. The overall advance to decline ratio is poised at 2 to 1 on the NSE. As regards global markets, the US ended lower on the back of sharp rise in Treasury yields coupled with news of looming bankruptcy for General Motors. The European markets closed higher yesterday, while the Asian indices are currently trading firm. Crude oil prices have gone up nearly 20% since the beginning of this month.
The BSE Sensex is trading higher by around 58 points. The NSE Nifty is up 36 points. The BSE Midcap and BSE Smallcap index are both trading higher. The rupee is trading at 48.06 to the dollar.
BHEL announced its FY09 results yesterday. The net sales grew 36% YoY during FY09, led by a strong growth in both its segments. BHEL’s ‘power’ segment grew by 34% YoY, while its ‘industry’ segment recorded a growth of 21% YoY. During FY09, the company’s operating margins contracted by 2.9% YoY owing to higher raw material costs (as a percentage of sales). Net profits grew by 10% YoY during FY09. This is mainly on account of BHEL’s poor performance at the operating level. During 4QFY09, the company’s topline and bottom line grew by 46% YoY and 21% YoY respectively. The Board has recommended a final dividend of Rs 8 per share (that, along with an interim dividend of Rs 9 per share paid during the year, leads to a dividend yield of 0.8%). Engineering stocks are trading firm.
Software major, Infosys Technologies is seeing good outsourcing business opportunities in India and the Middle East. The company on account of the global economic downturn has been facing pressure in the developed markets. As per the company, around 89% of its clients have indicated a cutback in their technology budgets. Hence it is looking at India and the Middle East. The company has won three deals in these markets over the last five months. Amidst the ongoing financial crisis and economic slowdown in the US, Infosys registered 10% QoQ revenue growth in sales from the domestic market. However, the company witnessed a decline in sales from the European region (by around 3% QoQ) and North America (by around 2% QoQ). The management has estimated 3% to 7% lower earnings in FY10 as compared to FY09. Software stocks are trading higher.
The Indian markets recorded another strong day today, possibly taking cues from their Asian peers and hopes of an improved economic and political climate. Among the key Asian markets, Hong Kong and China led the pack of gainers with 5% and 2% gains respectively. Among Indian stocks, those from the metal and realty sectors gained ground while the ones from the pharma and FMCG sectors fell.
The BSE-Sensex and the NSE-Nifty closed with gains of around 185 points (1.3%) and 60 points (1.4%) respectively. The BSE-Midcap and BSE-Smallcap indices were up by 0.9% and 0.2% respectively. Rupee was trading at 47.65 to the US dollar at the time of writing.
L&T announced results today. Its standalone and consolidated sales grew by 35% YoY and 38% YoY respectively during FY09. Higher construction material costs and subcontracting charges led to a 0.2% YoY contraction in consolidated operating margins during the fiscal. Margins on a standalone basis contracted by 0.7% YoY. Consolidated net profits (excluding extraordinary items) grew by 31% YoY during FY09. Sharp increase in interest expenses though took some sheen off the bottomline. The company’s board recommended a final dividend of Rs 10.5 per share. The company’s E&C segment’s consolidated order backlog stood at Rs 703 bn at the end of March 2009, which is 2.2 times the consolidated sales of the segment in FY09.
The stock of Novartis ended on a strong note on the back of reports that the parent Novartis AG which holds around 51% in the company is likely to revise its open offer price upwards. It is believed that open offer price that was earlier Rs 351 will be revised to a range of Rs 425 and Rs 450 a share. The buyback open offer to increase the parent company’s holding to 90% started on 20th May and will close on the 8th of June.
The United Nations has gotten more pessimistic about the growth of the global economy. In January, the UN had estimated the world economy to shrink by 0.5% during the year 2009. However, it has now revised its estimates downwards, estimating a 2.6% fall instead. A UN spokesperson stated that they are yet to see any positive signals of revival in the economy. However, the organisation has also stated that with a coordinated, development-oriented policy scenario, the world economy would recover to an annual growth of 4% to 5% in 2010 to 2015.
The Indian markets continued to surge further during the previous two hours of trade on the back of continued buying activity among the index heavyweights. Currently, stocks from the metals, auto and pharma sectors are leading the pack of gainers, while select telecom and power stocks are trading weak. The overall advance to decline ratio is poised at 1.8 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 160 points and 50 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 0.6% and 0.4% respectively. The rupee is trading at 47.69 to the dollar.
As per a leading business daily, Godrej Consumer has acquired 49% stake in Godrej Sara Lee. This is possible on account of the merger of Godrej ConsumerBiz Private (GCBPL) and Godrej Hygiene Care Private (GHCPL) with the company. These companies together hold 49% stake in Godrej Sara Lee. Godrej Sara Lee is the market leader in household insecticides, air care and hair cream segment with around Rs 2 bn in revenues. The proposed consolidation would strengthen the company’s position in the FMCG market and will scale its ability to pursue growth opportunities. The merger will consolidate the promoters’ holding in Godrej Consumer from 69.7% to 74.8%. Further, the company will also be eyeing Sara Lee’s 51% stake, as the latter is reportedly in talks to sell its global household and personal care portfolios to focus on its core business of food and beverages. The stock of Godrej Consumer is trading firm, while Dabur is in the red.
Auto stocks are trading mixed. While M&M is trading firm, Tata Motors and Ashok Leyland are in the red. As per a leading business daily, Tata Motors has completed its final obligation for the US$ 3 bn bridge loans, which it had taken a year earlier for financing the Jaguar Land Rover acquisition. As such, the company has been able to extend the final maturity of US$ 1 bn by over 18 months to December 2010, while the other obligations were met through a mix of bond issue, rights issue and the proceeds from the divestment. It may be noted that despite the economic crisis globally, which resulted in liquidity tightening, Tata Motors has been able to refinance its loan obligations.
The Indian markets gained further ground during the previous two hours of trade on account of sustained buying activity. Stocks from the steel, engineering and auto are leading the pack of gainers, while select stocks from the telecom, power and energy are trading lower. The overall advance to decline ratio is poised at 1.7 to 1 on the BSE.
The BSE Sensex and NSE Nifty are trading higher, up by around 150 points and 45 points respectively. The BSE Midcap and BSE Smallcap indices are trading higher by 0.5% and 0.3% respectively. The rupee is trading at 47.80 to the dollar.
Energy stocks are trading mixed. While Reliance Industries and ONGC are trading higher, HPCL and BPCL are trading lower. As per a leading business daily, Reliance Industries (RIL) has discovered 20 trillion cubic feet (tcf) of natural gas reserves in D-3 and D-6 blocks of the KG basin. The estimates are from UK based Hardy Oil and gas which has 10% stake in these blocks. RIL has the remaining stake. It may be noted that RIL also owns the D-6 block in the same fields, which is estimated to hold up to 50 tcf of gas reserves and 143 m barrels of oil. This is positive development for the Indian natural gas industry in general and RIL in particular as it creates another significant source of revenue.
Pharma stocks are trading mixed. While Ranbaxy and Sun Pharma are trading higher, Wockhardt is trading lower. As per a leading business daily, Wockhardt is likely to sell its German business Espharma GmbH in order to raise cash. It is believed that the company is in talks with Lindopharm GmbH, a Germany based company for the same. However, the size of the deal has not been disclosed. It may be noted that Wockhardt acquired Espharma for US$ 11 m in 2004. However, the company has been facing problems to service its debt of Rs 30 bn. Also, the dynamics of the German market which has changed from branded generics to unbranded generics and the pricing pressure is taking a heavy toll on Espharma.
In line with its Asian peers, the Indian markets have started the day on a positive note. Software, energy, engineering and power stocks are trading firm, while select telecom and banking stocks are in the red. The overall advance to decline ratio is poised at 2 to 1 on the NSE. As regards global markets, the US ended lower on the back of sharp rise in Treasury yields coupled with news of looming bankruptcy for General Motors. The European markets closed higher yesterday, while the Asian indices are currently trading firm. Crude oil prices have gone up nearly 20% since the beginning of this month.
The BSE Sensex is trading higher by around 58 points. The NSE Nifty is up 36 points. The BSE Midcap and BSE Smallcap index are both trading higher. The rupee is trading at 48.06 to the dollar.
BHEL announced its FY09 results yesterday. The net sales grew 36% YoY during FY09, led by a strong growth in both its segments. BHEL’s ‘power’ segment grew by 34% YoY, while its ‘industry’ segment recorded a growth of 21% YoY. During FY09, the company’s operating margins contracted by 2.9% YoY owing to higher raw material costs (as a percentage of sales). Net profits grew by 10% YoY during FY09. This is mainly on account of BHEL’s poor performance at the operating level. During 4QFY09, the company’s topline and bottom line grew by 46% YoY and 21% YoY respectively. The Board has recommended a final dividend of Rs 8 per share (that, along with an interim dividend of Rs 9 per share paid during the year, leads to a dividend yield of 0.8%). Engineering stocks are trading firm.
Software major, Infosys Technologies is seeing good outsourcing business opportunities in India and the Middle East. The company on account of the global economic downturn has been facing pressure in the developed markets. As per the company, around 89% of its clients have indicated a cutback in their technology budgets. Hence it is looking at India and the Middle East. The company has won three deals in these markets over the last five months. Amidst the ongoing financial crisis and economic slowdown in the US, Infosys registered 10% QoQ revenue growth in sales from the domestic market. However, the company witnessed a decline in sales from the European region (by around 3% QoQ) and North America (by around 2% QoQ). The management has estimated 3% to 7% lower earnings in FY10 as compared to FY09. Software stocks are trading higher.
Wednesday, May 27, 2009
Closing Bell 27 May 2009
Closing Bell 27 May 2009
Strong buying activity during the final hour of trade led the Indian markets to end the day on a firm note as the BSE-Sensex ended the day higher by around 520 points, while the NSE-Nifty closed higher by about 160 points. Stocks from the mid-cap and small-cap spaces ended the day on a strong note, recording gains of 3.7% and 3.4% respectively. Buying activity was witnessed in stocks across sectors led by realty, banking and power. However stocks from the healthcare and FMCG spaces were less in favour.
Asian markets ended the day on a firm note. The European indices are currently trading in the green as well. Rupee was trading at 47.7 against the US dollar at the time of writing.
Software stocks ended the day on a firm note led by HCL Technologies, Tech Mahindra and Mphasis. As per a leading business daily, the respective managements of software majors, Infosys and Wipro expect higher demand from the domestic market and the Middle East going forward. In fact, Wipro plans to ramp up its expansion plans in the Middle East as the company expects growth to be in the region of 50% plus each year. It may be noted that the Middle East and the Indian markets are not highly penetrated as compared to the developed countries.
Auto stocks ended the day on a firm note led by Ashok Leyland, Tata Motors and M&M. A leading business daily reported that the management of Maruti Suzuki is concerned about its revenue growth coming from two of its models - Dzire and Swift. It believes that the company could face problems if this issue continued longer. The management added that Maruti’s performance in many other models was not up to the mark. Volumes of the company’s A1 models, which mainly includes the M-800, declined by 29% YoY during the year, while volumes of its C segment (includes Omni, Versa) declined by 13% YoY. On the other hand, volumes of its other two segments - A2 (which includes Alto, Wagon R, Swift, amongst others) and A3 (which includes SX4 and Dzire) grew by 54% YoY. As such, on account of the slowing volumes in the A1 and C segments, the company is trying to boost volumes by targeting the rural areas.
Consulting firm McKinsey in its latest report has stated that it expects the Indian pharmaceutical industry to grow rapidly in the coming years. It believes that the demand will largely grow in the domestic market. It expects the market to grow by at least 10% YoY to 12% YoY. In addition, the firm stated that it expects large pharma companies to weather the slowdown in the economy as they have comfortable cash positions. However, it expects smaller and highly leveraged firms to be under pressure.
The Indian markets continued to trade in the positive territory on account of sustained buying activity witnessed during the previous two hours of trade. Stocks from the telecom, power and construction sectors are leading the pack of gainers, while select stocks from the cement and FMCG sectors are trading lower. The overall advance to decline ratio is poised at 4.3 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 390 points and 95 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.9% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Energy stocks are trading firm led by ONGC, GAIL and Reliance Industries. As per a leading business daily, the government is likely to double the prices of natural gas sold through the administered price mechanism (APM) to US$ 4.2 per m British thermal unit. It may be noted that all the gas produced from the existing fields in nominated blocks of ONGC and OIL is treated as APM gas. It amounts to around 45 m cubic meters a day and accounts for around 34% of India’s total natural gas production. It may be noted that selling of gas under APM has resulted in huge losses for the producing companies. ONGC had accounted for a loss of around Rs 21.4 bn for its gas business in FY08 due to the same. As such, it is a positive development for the company.
Shipping stocks are trading firm led by G.E. Shipping and Mercator Lines. As per a leading business daily, Indian shipping companies are likely to face margin pressures in the coming quarters on account of a fall in tanker freight rates due to subdued oil demand. It may be noted that average freight rates of tankers have fallen by around 40% to 60% as compared to last year. Moreover, freight rates are expected to remain lower as vessel utilisation is likely to remain low in 2009.
The Indian markets held on their gains during the previous two hours of trade as buying activity was witnessed across sectors. Currently, stocks from the metals, realty and banking sectors are leading the pack of gainers, while select telecom and power stocks are trading weak. The overall advance to decline ratio is poised at 4.7 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 330 points and 80 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.7% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Aluminium stocks are trading firm led Nalco and Hindalco. As per a leading business daily, Nalco has cut aluminium prices to the tune of Rs 4,000 to Rs 5,000 per tonne on the back of increasing threat of imports. The company has been facing a threat from large exporters in Chinese and Bahrain markets as the Rupee has appreciated against the US dollar. This move will help the company to quote prices at parity with the imports. It may be noted that CMIE expects aluminium demand to remain firm during FY10 on account of a healthy requirement from the electrical power equipment and construction sectors. Nalco plans to cater to the growth in demand through its various expansion plans.
As per a leading business daily, ITC will have to suspend production at all it facilities in order to introduce sufficient changes in cigarettes packets to reflect the mandatory pictorial warnings from June onwards. This new packaging would mean application of more colours, which require advanced printing cylinders. This would increase the total cost of packaging by at least 15%. It will also put Indian manufacturers at a further disadvantage compared to the illegally imported cigarettes on account of the huge price gap. It may be noted that the tobacco industry is already facing turbulent times due to the economic slowdown. Adherence to the mandatory pictorial warnings will further slacken the industry’s revenues going forward. The stock of ITC is trading lower currently.
Strong buying activity during the final hour of trade led the Indian markets to end the day on a firm note as the BSE-Sensex ended the day higher by around 520 points, while the NSE-Nifty closed higher by about 160 points. Stocks from the mid-cap and small-cap spaces ended the day on a strong note, recording gains of 3.7% and 3.4% respectively. Buying activity was witnessed in stocks across sectors led by realty, banking and power. However stocks from the healthcare and FMCG spaces were less in favour.
Asian markets ended the day on a firm note. The European indices are currently trading in the green as well. Rupee was trading at 47.7 against the US dollar at the time of writing.
Software stocks ended the day on a firm note led by HCL Technologies, Tech Mahindra and Mphasis. As per a leading business daily, the respective managements of software majors, Infosys and Wipro expect higher demand from the domestic market and the Middle East going forward. In fact, Wipro plans to ramp up its expansion plans in the Middle East as the company expects growth to be in the region of 50% plus each year. It may be noted that the Middle East and the Indian markets are not highly penetrated as compared to the developed countries.
Auto stocks ended the day on a firm note led by Ashok Leyland, Tata Motors and M&M. A leading business daily reported that the management of Maruti Suzuki is concerned about its revenue growth coming from two of its models - Dzire and Swift. It believes that the company could face problems if this issue continued longer. The management added that Maruti’s performance in many other models was not up to the mark. Volumes of the company’s A1 models, which mainly includes the M-800, declined by 29% YoY during the year, while volumes of its C segment (includes Omni, Versa) declined by 13% YoY. On the other hand, volumes of its other two segments - A2 (which includes Alto, Wagon R, Swift, amongst others) and A3 (which includes SX4 and Dzire) grew by 54% YoY. As such, on account of the slowing volumes in the A1 and C segments, the company is trying to boost volumes by targeting the rural areas.
Consulting firm McKinsey in its latest report has stated that it expects the Indian pharmaceutical industry to grow rapidly in the coming years. It believes that the demand will largely grow in the domestic market. It expects the market to grow by at least 10% YoY to 12% YoY. In addition, the firm stated that it expects large pharma companies to weather the slowdown in the economy as they have comfortable cash positions. However, it expects smaller and highly leveraged firms to be under pressure.
The Indian markets continued to trade in the positive territory on account of sustained buying activity witnessed during the previous two hours of trade. Stocks from the telecom, power and construction sectors are leading the pack of gainers, while select stocks from the cement and FMCG sectors are trading lower. The overall advance to decline ratio is poised at 4.3 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 390 points and 95 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.9% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Energy stocks are trading firm led by ONGC, GAIL and Reliance Industries. As per a leading business daily, the government is likely to double the prices of natural gas sold through the administered price mechanism (APM) to US$ 4.2 per m British thermal unit. It may be noted that all the gas produced from the existing fields in nominated blocks of ONGC and OIL is treated as APM gas. It amounts to around 45 m cubic meters a day and accounts for around 34% of India’s total natural gas production. It may be noted that selling of gas under APM has resulted in huge losses for the producing companies. ONGC had accounted for a loss of around Rs 21.4 bn for its gas business in FY08 due to the same. As such, it is a positive development for the company.
Shipping stocks are trading firm led by G.E. Shipping and Mercator Lines. As per a leading business daily, Indian shipping companies are likely to face margin pressures in the coming quarters on account of a fall in tanker freight rates due to subdued oil demand. It may be noted that average freight rates of tankers have fallen by around 40% to 60% as compared to last year. Moreover, freight rates are expected to remain lower as vessel utilisation is likely to remain low in 2009.
The Indian markets held on their gains during the previous two hours of trade as buying activity was witnessed across sectors. Currently, stocks from the metals, realty and banking sectors are leading the pack of gainers, while select telecom and power stocks are trading weak. The overall advance to decline ratio is poised at 4.7 to 1 on the BSE.
The BSE-Sensex and the NSE-Nifty are trading higher, up by around 330 points and 80 points respectively. The BSE-Midcap and BSE-Smallcap are also trading higher, up by around 2.7% and 2.6% respectively. The rupee is trading at 47.66 to the dollar.
Aluminium stocks are trading firm led Nalco and Hindalco. As per a leading business daily, Nalco has cut aluminium prices to the tune of Rs 4,000 to Rs 5,000 per tonne on the back of increasing threat of imports. The company has been facing a threat from large exporters in Chinese and Bahrain markets as the Rupee has appreciated against the US dollar. This move will help the company to quote prices at parity with the imports. It may be noted that CMIE expects aluminium demand to remain firm during FY10 on account of a healthy requirement from the electrical power equipment and construction sectors. Nalco plans to cater to the growth in demand through its various expansion plans.
As per a leading business daily, ITC will have to suspend production at all it facilities in order to introduce sufficient changes in cigarettes packets to reflect the mandatory pictorial warnings from June onwards. This new packaging would mean application of more colours, which require advanced printing cylinders. This would increase the total cost of packaging by at least 15%. It will also put Indian manufacturers at a further disadvantage compared to the illegally imported cigarettes on account of the huge price gap. It may be noted that the tobacco industry is already facing turbulent times due to the economic slowdown. Adherence to the mandatory pictorial warnings will further slacken the industry’s revenues going forward. The stock of ITC is trading lower currently.
BSE / NSE Shares analysis
BSE / NSE SHares analysis
The bulls, with strong global cued aiding them no end, went on a rampage and guided the market to a buoyant close today. Stocks, with the exception of those from the FMCG space, had a splendid run in the positive territory as buying continued right through the session.
Better-than-expected consumer confidence data from the U.S. and strong stimulus by the Chinese government kept the mood in Asian markets pretty upbeat today.
The Sensex ended at 14,095.97 (provisional) with a thumping gain of 506.74 points or 3.73%. The index, which opened nearly 200 points up today, hit a high of 14,122.78. The Nifty closed at 4274.60, up 157.90 points or 3.84% over its previous close.
Realty, bank, power, metal, capital goods and PSU stocks ended with strong gains. IT, consumer durables, oil, auto and pharma stocks also closed on a high note.
Reliance Infrastructure shot up by nearly 15%. Sterlite, ONGC and DLF gained 8.5% - 9.5%. Grasim and Ranbaxy moved up by over 7%.
ICICI Bank, HDFC Bank, SBI, JP Associates, Tata Motors, L&T, HDFC, RComm, RIL, Infosys, TCS, Tata Steel, Tata Power and M&M closed on a high note.
RPower, Idea Cellular, HCL Tech, Siemens, Reliance Capital, Axis Bank, Nalco, Cairn India, Unitech, Suzlon, GAIL India, RPL, BPCL and Power Grid Corporation finished with strong gains.
Buying has gathered tremendous momentum in late afternoon trade and the Sensex now looks set to end on an upbeat note. The barometer, which zoomed to 14,122.78 on aggressibe buying in blue chips, is up by over 500 points or 3.72% at 14,095.22 now. The Nifty is up 154.50 points or 3.75% at 4271.20.
Reliance Infra, RPower, Idea, Sterlite, ONGC, HCL Tech, DLF, Grasim, Reliance Capital and Ranbaxy have gained 7% - 14.5% now. ICICI Bank, SBI, JP Associates, HDFC Bank, Tata Motors, L&T, BHEL, HDFC, RComm, TCS, Infosys, Tata Steel, Tata Power and M&M are also up with strong gains.
Finance minister Pranab Mukherjee has stated that he will present the full budget for 2009-10 in the first week of July and that reviving growth momentum of the economy will be the top priority for the government but revival would not be at the cost of fiscal prudence.
Mukherjee said the UPA had in its manifesto committed to presenting the budget within 45 days of formation of the government. Keeping that deadline in mind, the budget for 2009-10 will be presented in the first week of July, he said, adding the government would endeavour for the budget to be passed before July 31.
GMR Infrastructure Ltd has informed that GMR Kamalanga Energy Ltd, a subsidiary of the Company achieved financial closure. The GMR Infra stock (up 4.2% at Rs 164) is a good buy at 20 - 30% down from its current levels. Though one can expect some decent gains in the near run, a strong corrective spell is not ruled out.
Godfrey Phillips India Ltd, a flagship company of K K Modi group, is planning to invest around Rs 270 crore on distribution, retail and other areas as part of its entry into new markets in the country.
The company is also setting up a manufacturing plant with an investment of around Rs 200 crore in Thane, Mumbai. The cigarette manufacturer today launched its Four Square Kings and Four Square Gold brands for the Tamil Nadu market.
On expectations the Union Budget, to be presented early July, will turn out to be quite market friendly, investors are seen picking up stocks with renewed vigour. Action ahead of May series derivatives expiry has also contributed to the surge.
RNRL (Rs 80) can move on to Rs 93 and some strength there can result in a rise to Rs 105 or even higher. On the downside, the stock has good support near Rs 60. Long term investors can hold the stock with a stop loss there.
Simplex Projects has recently bagged some major contracts for construction of bridges over rivers and Automatic Multi-level Car Parking facility from Government of Tripura for construction of bridges over rivers under different packages for an approximate value of Rs 113 crore and from New Okhla Industrial Development Authority for design, construction, operation and maintenance (for a period of 20 years) Multi-level Automatic Car Parking facility at Sector-38, Noida for an approximate value of Rs 93 crore.
With these orders, the total outstanding order book position, including international orders, stands at Rs 3000 crore as on date. These orders are to be executed over the next three years.
MRPL has posted a net profit of Rs 6076.20 million for the quarter ended March 31, 2009 as compared to Rs 2253.30 million for the quarter ended March 31, 2008. Total Income (net of excise) has decreased from Rs 95320.00 million for the quarter ended March 31, 2008 to Rs 66059.50 million for the quarter ended March 31, 2009. The stock is up by over 6% at Rs 69.70 at present.
Sesa Goa (Rs 165) has support at Rs 153 - 155. A breach there can result in a fall to Rs 135 or even lower. On the upside, the stock can rise to Rs 193 where it is likely to face some resistance.
NLC (Rs 133.65) can move on to a new 52-week high shortly. The stock had hit a high of Rs 150.75 in late May 2008. It then tumbled to Rs 44.50 on 27 October that year. One looking for some solid gains over a medium or long term can go in for NLC at current levels.
Before the budget, the market is likely to see some big rallies like the one it is witnessing today. One running in profits would do well to book some at sharp rallies. A re-entry can be made later as some corrective spells are not ruled out in the next couple of weeks.
Gammon Infrastructure Projects Ltd has informed that Rajahmundry Godavari Bridge Ltd, the SPV incorporated for implementing the project for designing, constructing, financing, operating and maintaining a major bridge across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh has achieved the 'Financial Closure' for its project with a consortium of bankers for an aggregate loan amount of upto Rs 566 crores.
The Project, costing Rs 861 crore, is entitled to a Central Government grant of Rs 118.6 crore and a grant of Rs 88.95 crore from the Government of Andhra Pradesh. The Project is on BOT basis for a period of 25 years, including a construction period of 3 years.
Anu's Laboratories Ltd has informed that a meeting of the Board of Directors of the Company will be held on June 03, 2009, to consider the issue of bonus shares and raising of additional funds by way of issue of debt, equity or any other security in one or more tranches as the Board may deem fit. The Board will also consider increasing the authorized capital of the Company.
Cummins India (Rs 269) can move up sharply over a medium run. Investors holding the stock can stay invested and look at buying more at sharp declines. Long term investors can place a stop loss near Rs 150.
One can go in for cement and infrastructure stocks with a medium term plan. Ambuja Cements, Ultratech, ACC, Dalmia Cements, India Cements and Rain Commodities look good. A modest exposure can be tried now and more can be bought at declines. Among infra stocks, GTL Infra, Gammon, IVRCL Infrastructure and GMR look set for a sharp upmove.
Nucleus Software has announced that Bank of Philippine Islands has chosen the company's FinnOne Customer Acquisition System - Corporate SMD module to support loans evaluation and origination process for the bank's small and medium enterprise clients.
Nucleus Software has been chosen for the task considering its expertise in technology focused on the SME sector. The stock has gained over 5% at Rs 91.25 at present.
The Sensex zoomed to 13,943.45 after opening nearly 200 points up at 13,780.41. At 13,932.15, the barometer is up by 342.92 points or 2.52% at present.
The Nifty has vaulted to 4220.60, gaining more than 100 points or 2.44%.
On Tuesday, the Sensex and Nifty had ended lower by 3.35% and 2.85% respectively.
Market Outlook
The market is likely to open with a big positive gap this morning on strong global cues. There may be some profit taking at higher levels, but the undertone is likely to remain fairly upbeat right through the day.
Sector Watch
Power stocks are likely to gain ground. Bank stocks may see some listless trades, but are most likely to trade in the positive zone for a better part of the session. Realty and capital goods stocks will be in focus. Select technology and metal stocks may move up.
Scrip Watch
Cummins India Limited has posted a net profit after tax of Rs 118.18 crore for the quarter ended March 31, 2009 where as the same was at Rs 75.6 crore for the quarter ended March 31, 2008. Total income increased to Rs 1072.16 crore for the quarter ended March 31, 2009 from Rs 716.39 crore it had earned for the quarter ended March 31, 2008. The board of the company has recommended a final dividend of Rs 2.60 per share of Rs 2 each (130%) aggregating to Rs 9 per share of Rs 2 each (450%) for the year ended Match 31 2009.
Tata Communications may move up sharply on strong quarterly numbers. The company has reported a sharp rise in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 5.14 times to Rs 3,023.70 million from Rs 588.60 million in the same quarter last year. The EPS was at 10.61, up by over 5 times year-on-year.
Reliance Power may see action on reports that the company is likely to earn more than Rs 40 billion over the next 10 years by selling carbon credits from its upcoming Sasan power project in Madhya Pradesh.
BHEL, Cairn India, Jindal Steel, NIIT, MRPL, Asahi India, Britannia Industries, Panacea Biotec, Indraprastha Gas, Godrej Industries, Emco and Tamil Nadu Newsprint & Papers will be announcing their results today.
Macro and Market Factors
The strong rally on Wall Street on the back of buoyant consumer confidence data and the resultant surge in Asian markets is likely to bring the bulls back to the ring this morning. Expiry of May series derivatives contracts is not far away and one can expect some hectic short-covering following the huge setback in the previous session.
The bulls, with strong global cued aiding them no end, went on a rampage and guided the market to a buoyant close today. Stocks, with the exception of those from the FMCG space, had a splendid run in the positive territory as buying continued right through the session.
Better-than-expected consumer confidence data from the U.S. and strong stimulus by the Chinese government kept the mood in Asian markets pretty upbeat today.
The Sensex ended at 14,095.97 (provisional) with a thumping gain of 506.74 points or 3.73%. The index, which opened nearly 200 points up today, hit a high of 14,122.78. The Nifty closed at 4274.60, up 157.90 points or 3.84% over its previous close.
Realty, bank, power, metal, capital goods and PSU stocks ended with strong gains. IT, consumer durables, oil, auto and pharma stocks also closed on a high note.
Reliance Infrastructure shot up by nearly 15%. Sterlite, ONGC and DLF gained 8.5% - 9.5%. Grasim and Ranbaxy moved up by over 7%.
ICICI Bank, HDFC Bank, SBI, JP Associates, Tata Motors, L&T, HDFC, RComm, RIL, Infosys, TCS, Tata Steel, Tata Power and M&M closed on a high note.
RPower, Idea Cellular, HCL Tech, Siemens, Reliance Capital, Axis Bank, Nalco, Cairn India, Unitech, Suzlon, GAIL India, RPL, BPCL and Power Grid Corporation finished with strong gains.
Buying has gathered tremendous momentum in late afternoon trade and the Sensex now looks set to end on an upbeat note. The barometer, which zoomed to 14,122.78 on aggressibe buying in blue chips, is up by over 500 points or 3.72% at 14,095.22 now. The Nifty is up 154.50 points or 3.75% at 4271.20.
Reliance Infra, RPower, Idea, Sterlite, ONGC, HCL Tech, DLF, Grasim, Reliance Capital and Ranbaxy have gained 7% - 14.5% now. ICICI Bank, SBI, JP Associates, HDFC Bank, Tata Motors, L&T, BHEL, HDFC, RComm, TCS, Infosys, Tata Steel, Tata Power and M&M are also up with strong gains.
Finance minister Pranab Mukherjee has stated that he will present the full budget for 2009-10 in the first week of July and that reviving growth momentum of the economy will be the top priority for the government but revival would not be at the cost of fiscal prudence.
Mukherjee said the UPA had in its manifesto committed to presenting the budget within 45 days of formation of the government. Keeping that deadline in mind, the budget for 2009-10 will be presented in the first week of July, he said, adding the government would endeavour for the budget to be passed before July 31.
GMR Infrastructure Ltd has informed that GMR Kamalanga Energy Ltd, a subsidiary of the Company achieved financial closure. The GMR Infra stock (up 4.2% at Rs 164) is a good buy at 20 - 30% down from its current levels. Though one can expect some decent gains in the near run, a strong corrective spell is not ruled out.
Godfrey Phillips India Ltd, a flagship company of K K Modi group, is planning to invest around Rs 270 crore on distribution, retail and other areas as part of its entry into new markets in the country.
The company is also setting up a manufacturing plant with an investment of around Rs 200 crore in Thane, Mumbai. The cigarette manufacturer today launched its Four Square Kings and Four Square Gold brands for the Tamil Nadu market.
On expectations the Union Budget, to be presented early July, will turn out to be quite market friendly, investors are seen picking up stocks with renewed vigour. Action ahead of May series derivatives expiry has also contributed to the surge.
RNRL (Rs 80) can move on to Rs 93 and some strength there can result in a rise to Rs 105 or even higher. On the downside, the stock has good support near Rs 60. Long term investors can hold the stock with a stop loss there.
Simplex Projects has recently bagged some major contracts for construction of bridges over rivers and Automatic Multi-level Car Parking facility from Government of Tripura for construction of bridges over rivers under different packages for an approximate value of Rs 113 crore and from New Okhla Industrial Development Authority for design, construction, operation and maintenance (for a period of 20 years) Multi-level Automatic Car Parking facility at Sector-38, Noida for an approximate value of Rs 93 crore.
With these orders, the total outstanding order book position, including international orders, stands at Rs 3000 crore as on date. These orders are to be executed over the next three years.
MRPL has posted a net profit of Rs 6076.20 million for the quarter ended March 31, 2009 as compared to Rs 2253.30 million for the quarter ended March 31, 2008. Total Income (net of excise) has decreased from Rs 95320.00 million for the quarter ended March 31, 2008 to Rs 66059.50 million for the quarter ended March 31, 2009. The stock is up by over 6% at Rs 69.70 at present.
Sesa Goa (Rs 165) has support at Rs 153 - 155. A breach there can result in a fall to Rs 135 or even lower. On the upside, the stock can rise to Rs 193 where it is likely to face some resistance.
NLC (Rs 133.65) can move on to a new 52-week high shortly. The stock had hit a high of Rs 150.75 in late May 2008. It then tumbled to Rs 44.50 on 27 October that year. One looking for some solid gains over a medium or long term can go in for NLC at current levels.
Before the budget, the market is likely to see some big rallies like the one it is witnessing today. One running in profits would do well to book some at sharp rallies. A re-entry can be made later as some corrective spells are not ruled out in the next couple of weeks.
Gammon Infrastructure Projects Ltd has informed that Rajahmundry Godavari Bridge Ltd, the SPV incorporated for implementing the project for designing, constructing, financing, operating and maintaining a major bridge across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh has achieved the 'Financial Closure' for its project with a consortium of bankers for an aggregate loan amount of upto Rs 566 crores.
The Project, costing Rs 861 crore, is entitled to a Central Government grant of Rs 118.6 crore and a grant of Rs 88.95 crore from the Government of Andhra Pradesh. The Project is on BOT basis for a period of 25 years, including a construction period of 3 years.
Anu's Laboratories Ltd has informed that a meeting of the Board of Directors of the Company will be held on June 03, 2009, to consider the issue of bonus shares and raising of additional funds by way of issue of debt, equity or any other security in one or more tranches as the Board may deem fit. The Board will also consider increasing the authorized capital of the Company.
Cummins India (Rs 269) can move up sharply over a medium run. Investors holding the stock can stay invested and look at buying more at sharp declines. Long term investors can place a stop loss near Rs 150.
One can go in for cement and infrastructure stocks with a medium term plan. Ambuja Cements, Ultratech, ACC, Dalmia Cements, India Cements and Rain Commodities look good. A modest exposure can be tried now and more can be bought at declines. Among infra stocks, GTL Infra, Gammon, IVRCL Infrastructure and GMR look set for a sharp upmove.
Nucleus Software has announced that Bank of Philippine Islands has chosen the company's FinnOne Customer Acquisition System - Corporate SMD module to support loans evaluation and origination process for the bank's small and medium enterprise clients.
Nucleus Software has been chosen for the task considering its expertise in technology focused on the SME sector. The stock has gained over 5% at Rs 91.25 at present.
The Sensex zoomed to 13,943.45 after opening nearly 200 points up at 13,780.41. At 13,932.15, the barometer is up by 342.92 points or 2.52% at present.
The Nifty has vaulted to 4220.60, gaining more than 100 points or 2.44%.
On Tuesday, the Sensex and Nifty had ended lower by 3.35% and 2.85% respectively.
Market Outlook
The market is likely to open with a big positive gap this morning on strong global cues. There may be some profit taking at higher levels, but the undertone is likely to remain fairly upbeat right through the day.
Sector Watch
Power stocks are likely to gain ground. Bank stocks may see some listless trades, but are most likely to trade in the positive zone for a better part of the session. Realty and capital goods stocks will be in focus. Select technology and metal stocks may move up.
Scrip Watch
Cummins India Limited has posted a net profit after tax of Rs 118.18 crore for the quarter ended March 31, 2009 where as the same was at Rs 75.6 crore for the quarter ended March 31, 2008. Total income increased to Rs 1072.16 crore for the quarter ended March 31, 2009 from Rs 716.39 crore it had earned for the quarter ended March 31, 2008. The board of the company has recommended a final dividend of Rs 2.60 per share of Rs 2 each (130%) aggregating to Rs 9 per share of Rs 2 each (450%) for the year ended Match 31 2009.
Tata Communications may move up sharply on strong quarterly numbers. The company has reported a sharp rise in standalone net profit for the quarter ended March 2009. During the quarter, the profit of the company rose 5.14 times to Rs 3,023.70 million from Rs 588.60 million in the same quarter last year. The EPS was at 10.61, up by over 5 times year-on-year.
Reliance Power may see action on reports that the company is likely to earn more than Rs 40 billion over the next 10 years by selling carbon credits from its upcoming Sasan power project in Madhya Pradesh.
BHEL, Cairn India, Jindal Steel, NIIT, MRPL, Asahi India, Britannia Industries, Panacea Biotec, Indraprastha Gas, Godrej Industries, Emco and Tamil Nadu Newsprint & Papers will be announcing their results today.
Macro and Market Factors
The strong rally on Wall Street on the back of buoyant consumer confidence data and the resultant surge in Asian markets is likely to bring the bulls back to the ring this morning. Expiry of May series derivatives contracts is not far away and one can expect some hectic short-covering following the huge setback in the previous session.
Brokers Recommendations - 27th May 2009
Buy JP Hydro with a target of Rs 120 in 3-4 months, says Rakesh Bhansal of SMC Global, on CNBC Awaaz. The stock is currently trading at Rs 67, up 7.04% on the BSE.
Hold Bharat Bijlee with a target of Rs 950 where one can exit and stop loss of Rs 840, says Rakesh Bhansal of SMC Global, on CNBC Awaaz. The stock is currently trading at Rs 920, up 6.8% on the BSE.
This is a dream market for traders who can buy on dips and sell on any sharp rally, says Sudarshan Sukhani, technical analyst, on CNBC TV18. This is a momentum market and it looks good to go to 4500 on Nifty, he feels. Buy on dips but don't make it long term, he adds.
Positive global cues help our market trade strong and look very good. Sensex is trading at 14087, up 498 points and Nifty is at 4264, up 148 points from the previous close. CNX Midcap index is up 3.01% and BSE Smallcap index is up 3.17%. The market breadth is positive with advances at 1056 against declines of 207 on the NSE.
In the power space, buy NTPC, Power Grid, REC International, ABB and Siemens for long-term gains, says Salil Sharma of Kapoor & Sharma Company on Zee Business.
Buy DLF with a target of Rs 378-390 and stop loss of Rs 348, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 363, up 7.8% on the BSE.
Hold Elecon Engineering with a target of Rs 81-89 and stop loss of Rs 67, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 80, up 9.9% on the BSE.
Buy Idea Cellular with a target of Rs 84-90 and stop loss of Rs 69, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 79, up 13.6% on the BSE.
Hold Praj Industries with a target of Rs 125 in four months, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 103, up 1.7% on the BSE.
Buy IOC with a target of Rs 595-615 and stop loss of Rs 548, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 573, up 1.6% on the BSE.
Hold PTC with a target of Rs 110 in four months where one can exit and keep a stop loss of Rs 78, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 87, up 1.9% on the BSE.
The market is looking good and trading firm. Sensex is trading at 13952, up 363 points and Nifty is at 4218, up 101 points from the previous close. CNX Midcap index is up 2.48% and BSE Smallcap index is up 2.61%. The market breadth is positive with advances at 1068 against declines of 198 on the NSE.
Buy Alok Industries with a target of Rs 28-34 and stop loss of Rs 19, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 23, up 9.6% on the BSE.
Hold DCB with a target of Rs 51 where one can exit and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 40, up 3.6% on the BSE.
Buy Info Edge with a target of Rs 800-825 where one can book partial profits and keep a stop loss of Rs 620, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 675, up 0.01% on the BSE.
Buy GTL Infra with a target of Rs 46-55 and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 41, up 1.09% on the BSE.
Simplex Projects bags two orders worth Rs 206 crore and their total order book stands at Rs 3000 crore, reports NDTV Profit. The stock is currently trading at Rs 91, up 4.99% on the BSE.
Hold RNRL with targets of Rs 90 and then 110, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 80.20, up 3.8% on the BSE.
Go short on L&T with targets of Rs 1250 and then 1210, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 1310, he adds. The stock is currently trading at Rs 1302, up 3.8% on the BSE.
Buy Balrampur Chini at Rs 80-81, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 83.25, down 2.4% on the BSE.
Book profits in Suzlon Energy and buy again on dips at Rs 72-65, says Ashu Kakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 90.15, up 4% on the BSE.
Buy Vijaya Bank at Rs 32 with target of Rs 45, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 37.50, up 2.7% on the BSE.
I expect the markets to be range-bound in absence of any fresh triggers in the short-term, says Devesh Kumar of Centrum Broking on CNBC TV18. Investors should not expect too much from the budget as it may turn out to be a populist one, he adds.
Hold Tata Motors with stop loss of Rs 300, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 350 crossing which it can go to Rs 400 at which levels book profit, he adds. The stock is currently trading at Rs 340.35, up 4.6% on the BSE.
Go short on the Nifty with target of 4100-4075 in 2-3 trading sessions, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of 4255, he adds.
Buy Sesa Goa at Rs 150-160, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. The stock is currently trading at Rs 163.35, up 5.6% on the BSE.
Buy Alok Industries on dips at Rs 18.50-19, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep target of Rs 25-26, he adds. The stock is currently trading at Rs 22.95, up 7.5% on the BSE.
Hold ICICI Bank with target of Rs 850, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 696.70, up 4.5% on the BSE.
Will return to consolidation of fiscal stance in 2-3 years, says Pranab Mukherjee, Indian Finance Minister, reports NDTV Profit. We will address long-pending measures for financial sector and meet banks on benign plan of action, interest rates, he adds. He says that the mandate of the people has provided booster dose to the government.
Buy Sterlite Industries on dips with medium-term target of Rs 690-725, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 582, up 7.8% on the BSE.
We will produce the budget within 45 days, in the first week of July, says Pranab Mukherjee, Indian Finance Minister, in his first press conference after taking over as FM in the new Government, reports NDTV Profit. We will try to complete the budget process by July 31, he adds. The top-most priority is to revive growth momentum, he says.
Buy Unitech on dips with stop loss of Rs 68, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 75.50, up 3.7% on the BSE.
Hold GMR Infra with target of Rs 210, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 140, he adds. The stock is currently trading at Rs 163.20, up 3.7% on the BSE.
Buy DLF at Rs 315-320 with target of Rs 375-380, says Ashwani Gujral, technical analyst, on CNBC TV. The stock is currently trading at Rs 357.60, up 6.1% on the BSE.
Hold AIA Engineering with stop loss of Rs 200, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 235 crossing which it can go to Rs 250 at which levels book profit, he adds. The stock is currently trading at Rs 224.80, up 4.7% on the BSE.
Buy DLF with target of Rs 395-400, says Salil Sharma, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 320, he adds. The stock is currently trading at Rs 355.50, up 5.5% on the BSE.
Buy Bombay Dyeing on dips at Rs 230-235, says Ashwani Gujral, technical analyst, on CNBC TV18. It has resistance at Rs 355, he adds. The stock is currently trading at Rs 313, up 7.9% on the BSE
Buy NTPC with targets of Rs 215 and then 230, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 201.70, up 0.2% on the BSE.
Hold Aban Offshore with stop loss of Rs 800, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 900 crossing which it can go to Rs 1050 at which levels book profit, he adds. The stock is currently trading at Rs 881, up 3.2% on the BSE.
Buy Dish TV with stop loss of Rs 42, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 47.30, up 3.7% on the BSE.
Buy Neyveli Lignite with intra-day target of Rs 140, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 128, he adds. The stock is currently trading at Rs 135, up 3.1% on the BSE.
Buy Hindalco with intra-day target of Rs 84-87, says Rajat Bose, technical analyst, on CNBC Awaaz. Medium-term target is Rs 115-120, he adds. The stock is currently trading at Rs 83.50, up 4.5% on the BSE.
Buy Escorts with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 55, he adds. The stock is currently trading at Rs 61.80, up 5.3% on the BSE.
Buy Uttam Galva with intra-day target of Rs 47, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 41.50, he adds. The stock is currently trading at Rs 45.65, up 5.4% on the BSE.
Buy Infosys at Rs 1548 with target of Rs 1570, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1530, she adds. The stock is at Rs 1543.20, up 2.3% on the BSE.
Buy Bharti Airtel at Rs 771 with target of Rs 797, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 760, she adds. The stock is at Rs 770.40, down 5.1% on the BSE.
Hold Bharat Bijlee with a target of Rs 950 where one can exit and stop loss of Rs 840, says Rakesh Bhansal of SMC Global, on CNBC Awaaz. The stock is currently trading at Rs 920, up 6.8% on the BSE.
This is a dream market for traders who can buy on dips and sell on any sharp rally, says Sudarshan Sukhani, technical analyst, on CNBC TV18. This is a momentum market and it looks good to go to 4500 on Nifty, he feels. Buy on dips but don't make it long term, he adds.
Positive global cues help our market trade strong and look very good. Sensex is trading at 14087, up 498 points and Nifty is at 4264, up 148 points from the previous close. CNX Midcap index is up 3.01% and BSE Smallcap index is up 3.17%. The market breadth is positive with advances at 1056 against declines of 207 on the NSE.
In the power space, buy NTPC, Power Grid, REC International, ABB and Siemens for long-term gains, says Salil Sharma of Kapoor & Sharma Company on Zee Business.
Buy DLF with a target of Rs 378-390 and stop loss of Rs 348, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 363, up 7.8% on the BSE.
Hold Elecon Engineering with a target of Rs 81-89 and stop loss of Rs 67, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 80, up 9.9% on the BSE.
Buy Idea Cellular with a target of Rs 84-90 and stop loss of Rs 69, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 79, up 13.6% on the BSE.
Hold Praj Industries with a target of Rs 125 in four months, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 103, up 1.7% on the BSE.
Buy IOC with a target of Rs 595-615 and stop loss of Rs 548, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 573, up 1.6% on the BSE.
Hold PTC with a target of Rs 110 in four months where one can exit and keep a stop loss of Rs 78, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 87, up 1.9% on the BSE.
The market is looking good and trading firm. Sensex is trading at 13952, up 363 points and Nifty is at 4218, up 101 points from the previous close. CNX Midcap index is up 2.48% and BSE Smallcap index is up 2.61%. The market breadth is positive with advances at 1068 against declines of 198 on the NSE.
Buy Alok Industries with a target of Rs 28-34 and stop loss of Rs 19, says Husseini Wadharia of Techno Shares, on CNBC Awaaz. The stock is currently trading at Rs 23, up 9.6% on the BSE.
Hold DCB with a target of Rs 51 where one can exit and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 40, up 3.6% on the BSE.
Buy Info Edge with a target of Rs 800-825 where one can book partial profits and keep a stop loss of Rs 620, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 675, up 0.01% on the BSE.
Buy GTL Infra with a target of Rs 46-55 and keep a stop loss of Rs 37, says Salil Sharma of Kapoor & Sharma Company on Zee Business. The stock is currently trading at Rs 41, up 1.09% on the BSE.
Simplex Projects bags two orders worth Rs 206 crore and their total order book stands at Rs 3000 crore, reports NDTV Profit. The stock is currently trading at Rs 91, up 4.99% on the BSE.
Hold RNRL with targets of Rs 90 and then 110, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 80.20, up 3.8% on the BSE.
Go short on L&T with targets of Rs 1250 and then 1210, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of Rs 1310, he adds. The stock is currently trading at Rs 1302, up 3.8% on the BSE.
Buy Balrampur Chini at Rs 80-81, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 83.25, down 2.4% on the BSE.
Book profits in Suzlon Energy and buy again on dips at Rs 72-65, says Ashu Kakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 90.15, up 4% on the BSE.
Buy Vijaya Bank at Rs 32 with target of Rs 45, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 37.50, up 2.7% on the BSE.
I expect the markets to be range-bound in absence of any fresh triggers in the short-term, says Devesh Kumar of Centrum Broking on CNBC TV18. Investors should not expect too much from the budget as it may turn out to be a populist one, he adds.
Hold Tata Motors with stop loss of Rs 300, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 350 crossing which it can go to Rs 400 at which levels book profit, he adds. The stock is currently trading at Rs 340.35, up 4.6% on the BSE.
Go short on the Nifty with target of 4100-4075 in 2-3 trading sessions, says Ashu Kakkar, technical analyst, on NDTV Profit. Keep stop loss of 4255, he adds.
Buy Sesa Goa at Rs 150-160, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. The stock is currently trading at Rs 163.35, up 5.6% on the BSE.
Buy Alok Industries on dips at Rs 18.50-19, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep target of Rs 25-26, he adds. The stock is currently trading at Rs 22.95, up 7.5% on the BSE.
Hold ICICI Bank with target of Rs 850, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 696.70, up 4.5% on the BSE.
Will return to consolidation of fiscal stance in 2-3 years, says Pranab Mukherjee, Indian Finance Minister, reports NDTV Profit. We will address long-pending measures for financial sector and meet banks on benign plan of action, interest rates, he adds. He says that the mandate of the people has provided booster dose to the government.
Buy Sterlite Industries on dips with medium-term target of Rs 690-725, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 582, up 7.8% on the BSE.
We will produce the budget within 45 days, in the first week of July, says Pranab Mukherjee, Indian Finance Minister, in his first press conference after taking over as FM in the new Government, reports NDTV Profit. We will try to complete the budget process by July 31, he adds. The top-most priority is to revive growth momentum, he says.
Buy Unitech on dips with stop loss of Rs 68, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 75.50, up 3.7% on the BSE.
Hold GMR Infra with target of Rs 210, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 140, he adds. The stock is currently trading at Rs 163.20, up 3.7% on the BSE.
Buy DLF at Rs 315-320 with target of Rs 375-380, says Ashwani Gujral, technical analyst, on CNBC TV. The stock is currently trading at Rs 357.60, up 6.1% on the BSE.
Hold AIA Engineering with stop loss of Rs 200, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 235 crossing which it can go to Rs 250 at which levels book profit, he adds. The stock is currently trading at Rs 224.80, up 4.7% on the BSE.
Buy DLF with target of Rs 395-400, says Salil Sharma, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 320, he adds. The stock is currently trading at Rs 355.50, up 5.5% on the BSE.
Buy Bombay Dyeing on dips at Rs 230-235, says Ashwani Gujral, technical analyst, on CNBC TV18. It has resistance at Rs 355, he adds. The stock is currently trading at Rs 313, up 7.9% on the BSE
Buy NTPC with targets of Rs 215 and then 230, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 201.70, up 0.2% on the BSE.
Hold Aban Offshore with stop loss of Rs 800, says Nitin Murarka of SMC Global on Zee Business. It has resistance at Rs 900 crossing which it can go to Rs 1050 at which levels book profit, he adds. The stock is currently trading at Rs 881, up 3.2% on the BSE.
Buy Dish TV with stop loss of Rs 42, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 47.30, up 3.7% on the BSE.
Buy Neyveli Lignite with intra-day target of Rs 140, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 128, he adds. The stock is currently trading at Rs 135, up 3.1% on the BSE.
Buy Hindalco with intra-day target of Rs 84-87, says Rajat Bose, technical analyst, on CNBC Awaaz. Medium-term target is Rs 115-120, he adds. The stock is currently trading at Rs 83.50, up 4.5% on the BSE.
Buy Escorts with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 55, he adds. The stock is currently trading at Rs 61.80, up 5.3% on the BSE.
Buy Uttam Galva with intra-day target of Rs 47, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 41.50, he adds. The stock is currently trading at Rs 45.65, up 5.4% on the BSE.
Buy Infosys at Rs 1548 with target of Rs 1570, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 1530, she adds. The stock is at Rs 1543.20, up 2.3% on the BSE.
Buy Bharti Airtel at Rs 771 with target of Rs 797, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 760, she adds. The stock is at Rs 770.40, down 5.1% on the BSE.
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