Learn2trade and Gain BSE / NSE

Ravina Consulting
Ravina Consulting is a Management Consulting firm engaged in providing professional advise to the clients. Intelligent Investor is a Division of Ravina Consulting exclusively focused on providing research based support to enable Intelligent Investors to make wealth from the Financial markets in India. This program is designed with a view to help the Indian investor keen on making money
in the markets

Intelligent Investor –
Investment Advisory Division of Ravina Consulting.
Intelligent Investment Ideas for Indian Investors has been helping Investors for the last 2 decades having extensive knowledge about the Indian Capital markets.

The operations have started since the boom of 1984 and with our experience of more than 25 years we have perfected the art of giving the best Portfolio Management / Investment Advisory Services.

www.ingeniousinvestor.blogspot.com
Follow us – www.twitter.com/SmartInvestor

COURSE TITLE : ABCs of Stock Market Investing

OBJECTIVES
• Understanding Indian Financial Markets
• BSE – How it functions
• NSE – How it functions
• Commodities Exchange – How it functions
• Foreign Exchange - Basics
• Sectoral Indices
• Global Indices to track
• Technical Analysis
• Long term / Short term investing
• Day traders delight how to win and time the market 1
. Portfolio - Creating & tracking

PROGRAMME CONTENTS
The course has 1 modules consisting of 30 sessions each conducted online of 30 lectures / sessions followed by an assessment. Out of which 15 are theoretical in nature and 15 are practical applications.

TOOLS & TECHNIQUES :
We provide you with tools and explain the techniques to track the market and make money. We have the following investment options :
1. Long term investment – with holding of more than 12 Months
2. Short term investment – with holding of more than 1 month
3. Weekly investment – mostly BTST with holding of 1 week
4. Day trading – how to trade and make money


PARTICIPANTS' PROFILE
This program is designed for everyone who is keen to enter the Indian Stock
markets – B S E or N S E

Qualification :
A candidate wishing to undergo this program should be conversant with English and able to understand the program contents. Candidate should have basic knowledge of working on computers and is work with MS office and familiar with internet browsing.

Method of Delivery
Web-based / Online / telephone one hour for each session. The online sessions will be based on the presentations / study material sent to the candidates at
the time of registration.

Study Material
A well researched and informative set of study material is given to the students. A simple and easy to understand style of reports makes it easy even for the novices to know about the nuances of the Indian Share Market. The Study Material will be sent by hard copy / soft copy.

Bought to you by

Ingenious Investor

Equity Research Division

Ravina Consulting

No.429 Mahavir Tuscan

Near Hoodi Circle, Whitefield

Mahadevapura Post

BANGALORE 560048

For Stock Advise + Ideas

sowmya@ravinaconsulting.com

Talk / SMS 08105737966

Read - www.ingeniousinvestor.blogspot.com

Follow us - www.twitter.com/smartinvestor

Learn2trade and Gain BSE / NSE

Ravina Consulting
Ravina Consulting is a Management Consulting firm engaged in providing professional advise to the clients. Intelligent Investor is a Division of Ravina Consulting exclusively focused on providing research based support to enable Intelligent Investors to make wealth from the Financial markets in India. This program is designed with a view to help the Indian investor keen on making money
in the markets

Intelligent Investor –
Investment Advisory Division of Ravina Consulting.
Intelligent Investment Ideas for Indian Investors has been helping Investors for the last 2 decades having extensive knowledge about the Indian Capital markets.

The operations have started since the boom of 1984 and with our experience of more than 25 years we have perfected the art of giving the best Portfolio Management / Investment Advisory Services.

www.intelligentinvestor1.blogspot.com
Follow us – www.twitter.com/SmartInvestor

COURSE TITLE : ABCs of Stock Market Investing

OBJECTIVES
• Understanding Indian Financial Markets
• BSE – How it functions
• NSE – How it functions
• Commodities Exchange – How it functions
• Foreign Exchange - Basics
• Sectoral Indices
• Global Indices to track
• Technical Analysis
• Long term / Short term investing
• Day traders delight how to win and time the market 1
. Portfolio - Creating & tracking

PROGRAMME CONTENTS
The course has 1 modules consisting of 30 sessions each conducted online of 30 lectures / sessions followed by an assessment. Out of which 15 are theoretical in nature and 15 are practical applications.

TOOLS & TECHNIQUES :
We provide you with tools and explain the techniques to track the market and make money. We have the following investment options :
1. Long term investment – with holding of more than 12 Months
2. Short term investment – with holding of more than 1 month
3. Weekly investment – mostly BTST with holding of 1 week
4. Day trading – how to trade and make money


PARTICIPANTS' PROFILE
This program is designed for everyone who is keen to enter the Indian Stock
markets – B S E or N S E

Qualification :
A candidate wishing to undergo this program should be conversant with English and able to understand the program contents. Candidate should have basic knowledge of working on computers and is work with MS office and familiar with internet browsing.

Method of Delivery
Web-based / Online / telephone one hour for each session. The online sessions will be based on the presentations / study material sent to the candidates at
the time of registration.

Study Material
A well researched and informative set of study material is given to the students. A simple and easy to understand style of reports makes it easy even for the novices to know about the nuances of the Indian Share Market. The Study Material will be sent by hard copy / soft copy.

For a Demo Class contact us now !

Bought to you by

Ingenious Investor

Equity Research Division

Ravina Consulting

No.429 Mahavir Tuscan

Near Hoodi Circle, Whitefield

Mahadevapura Post

BANGALORE 560048

For Stock Advise + Ideas

sowmya@ravinaconsulting.com

Talk / SMS 08105737966

Read - www.ingeniousinvestor.blogspot.com

Follow us - www.twitter.com/smartinvestor

Learn2trade and Gain BSE / NSE

Ingenioius Investor – Investment Advisory Division of Ravina Consulting. Intelligent Investment Ideas for Indian Investors has been helping Investors for the last 2 decades having extensive knowledge about the Indian Capital markets. Ravina Consulting is a Management Consulting firm engaged in providing professional advise to the clients. Intelligent Investor is a Division of Ravina Consulting exclusively focused on providing research based support to enable Intelligent Investors to make wealth from the Financial markets in India. This program is designed with a view to help the Indian investor keen on making money in the markets The operations have started since the boom of 1984 and with our experience of more than 25 years we have perfected the art of giving the best Portfolio Management / Investment Advisory Services. www.ingeniousinvestor.blogspot.com Follow us – www.twitter.com/SmartInvestor COURSE TITLE : Learn2trade and Earn / ABCs of Stock Market Investing OBJECTIVES • Understanding Indian Financial Markets • BSE – How it functions • NSE – How it functions • Commodities Exchange – How it functions • Foreign Exchange - Basics • Sectoral Indices • Global Indices to track • Technical Analysis • Long term / Short term investing • Day traders delight how to win and time the market 1 . Portfolio - Creating & tracking PROGRAMME CONTENTS The course has 1 modules consisting of 30 sessions each conducted online of 30 lectures / sessions followed by an assessment. Out of which 15 are theoretical in nature and 15 are practical applications. TOOLS & TECHNIQUES : We provide you with tools and explain the techniques to track the market and make money. We have the following investment options : 1. Long term investment – with holding of more than 12 Months 2. Short term investment – with holding of more than 1 month 3. Weekly investment – mostly BTST with holding of 1 week 4. Day trading – how to trade and make money PARTICIPANTS' PROFILE This program is designed for everyone who is keen to enter the Indian Stock markets – B S E or N S E Qualification : A candidate wishing to undergo this program should be conversant with English and able to understand the program contents. Candidate should have basic knowledge of working on computers and is work with MS office and familiar with internet browsing. Method of Delivery Web-based / Online / telephone one hour for each session. The online sessions will be based on the presentations / study material sent to the candidates at the time of registration. Study Material A well researched and informative set of study material is given to the students. A simple and easy to understand style of reports makes it easy even for the novices to know about the nuances of the Indian Share Market. The Study Material will be sent by hard copy / soft copy. For a Demo Class contact us now ! Ravina Consulting B-429 Mahaveer Tuscan Hoodi Circle, Whitefield Mahadevapura Post BANGALORE 560084 www.ingeniousinvestor.blogspot.com intellinvestor@gmail.com or call 08105737966

Market Khabar 04 Jan 2010

Buoyed by positive statements from the Prime Minister, Dr Manmohan Singh, and
the finance minister, Mr Pranab Mukherjee, that economic growth would
accelerate, markets bid farewell to year 2009 on optimistic note.

On the Bombay Stock Exchange (BSE), the Sensex rose 104 points to end at 17,465
and the Nifty on the NSE gained 23 points closing at 5,201. Midcap and smallcap
counters were in limelight on renewed speculative buying interest.

Analysts expect PSU firms to hog limelight in the first half of 2010 since the
government is expected to go ahead with disinvestment policy aggressively. Near
term focus will be on the third quarter earnings numbers of biggies. Events to
watch in the week ahead are new trading hours and listing of JSW Energy.

Chartists predict a trading range of 17,120-17,840 for the Sensex and
5,050-5,440 for the Nifty. Expect resistance to indices at 17.680 and 17,860 and
5,280 and 5,360. Last week's lows are good support levels for the near term. You
can go bearish only if the Sensex trades below 17,000-level on closing basis.

After the hyper volatility seen in last two years, even the most practiced
soothsayer will find it difficult to make detailed predictions for the next two
years.

Optimists hope that the Sensex will touch 25,000-level in its silver jubilee
year 2010. Buy good standard stocks that have stood the test of time. Buy
weakness and sell strength. Be just as willing to sell as you are to buy
.
Futures & Options
Reflecting the prevailing optimism, healthy rollovers were seen in the
derivatives segment.

Sentiment indicators like open interest, put/call ratio, implied volatility and
VIX indicate high volatility in the coming days. Protect profits with trailing
stops.

Stock futures looking good for positive gains are Ashok Leyland, Bharat Forge,
Biocon, Cairn, Cummins, Hindalco, Indian Hotels, Indusind Bank, India Cements,
Opto Circuits, Praj Inds, Tata Steel and Unitech. From the PSU pack BEL, BEML,
ONGC, NLC, Nalco and NMDC look good for short term. Expect spurt in metals and
cement stocks on reports of price increases. Stay invested for further gains.

Punters tip Tata Steel and Hindalco for Rs 700 and Rs 200 respectively. Ahead of
Q3 numbers IT stocks are expected to attract some buying. Concentrate on midcaps
advice industry watchers.
Use present weakness to buy smaller PSU banks such as Vijaya Bank, and Andhra
Bank.

Select FIIs are reportedly turning bullish on realty. Buy Unitech and DLF for
short-term targets of Rs 96 and Rs 395. Renewed buying indicated in capital
goods counters. Buy on declines BHEL, L&T, Voltas and Crompton Greaves. Don't
take advice from uninformed people, they know no more than you about the market.
Don't try to outguess the market.
Stock scan
Year 2009 was macro-issue based with indices swinging to news flow like IIP
numbers, revival in GDP growth, but Year 2010 will be stock specific.

Watch out for turnaround stories, companies associated with domestic consumption
and investment cycle and news on reforms in financial sector spot multibaggers.
Factors that can affect the markets negatively are any sudden or sharp
withdrawal of the stimulus packages, failure of Monsoon again and big bang
negative news from the US.

Some of the top picks from the frontline counters for Year 2010 are:
After the lau-nch of services by Uninor, the visibility of value in the telecom
business and debt restructuring could give Unitech a head start in execution
scale up, helping it to improve the balance sheet quickly. A new property cycle
may bring back demand for Unitech stock. Buy at current levels for a target
price of Rs 150.

Riding the new commodity cycle, Tata Steel Europe (Corus) may surprise
inv-estors in terms of capacity utilisation and profits. Turnaround of
operations and robust demand in India may see Tata Steel perform like Tata
Motors did in the past year. Buy on declines for a target price of Rs 1,250.

Bogged down by the court cases, Ambani companies were significant
underperformers in the year ended. Post Supreme Court judgment on gas dispute,
analysts expect RIL's GRMs to improve as global demand for oil rebounds, it
could see strong growth in E&P division.

Reliance Infrastructure's power distribution business may witness quantum jump,
Strong growth in EPC business and slated to be largest player in road projects
in next two years. Once the dispute was resolved, market players feel the Ambani
brothers may resume their old game for market capitalisation and drive the
indices to new highs.
Top picks from the mid cap segment are Pantaloon Retail, Titan Inds, Fortis
Healthcare, Bilcare, Jyothi Structures, Bajaj Finserve, Greaves Cotton, Godrej
Consumer, Gujarat Apollo, Ipca Labs, and NHPC.

Source - deccan.com

C. Kutumba Rao is a Hyderabad-based stock market analyst. The views expressed
and the recommendations made are those of the author. Readers are strongly
recommended to consult their financial advisors before making any financial
investments. This newspaper is not liable for investment decisions made on the
basis of recommendations in these columns.

Bought to you by :

Ingenious Investor
Equity Research Division

Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi Circle, Whitefield
Mahadevapura Post
BANGALORE 560048

Read - www.ingeniousinvestor.blogspot.com
Follow us - www.twitter.com/smartinvestor

BSE NSE Indian Share Market Report 27 July 2009

BSE NSE Indian Share Market Report 27 July 2009

Key benchmark ended almost unchanged after gyrating either side throughout the day. Global cues were positive with Asian and European markets trading higher. The BSE 30-share Sensex slipped 3.92 points or 0.03% to 15,375.04, off 88.05 points from the day's high, but up 146.58 points from the day's low. The BSE small and mid-cap indices outperformed the Sensex

The market opened on a subdued note as index heavyweight Reliance Industries (RIL) fell on weak Q1 June 2009 results it announced after trading hours on Friday, 24 July 2009. The market firmed up soon on buying in banking and IT pivotals. The Sensex hit its highest level in 1-1/2 months. However, the rally proved short-lived. The Sensex once again slipped into the red. The Sensex dropped to intraday low in afternoon trade before cutting losses. Rally in FMCG, metal and realty shares aided further recovery on the bourses in late trade

The market may remain volatile this week as investors rollover positions from July 2009 contacts to August 2009 contracts ahead of expiry of July 2009 futures and options (F&O) contract on Thursday, 30 July 2009.

With some initial public offers (IP)) lined up in the next few days starting with Adani Power's IPO on Tuesday, 28 July 2009, investor focus may shift to primary market from secondary market. Close on the heels of Adani Power, state-run NHPC is ready to hit the primary market in August to raise Rs 1,680 crore. Besides, Oil India and Pipavav Shipyard collectively plan to raise over Rs 2000 crore

The Q1 June 2009 results announced so far have encouraging, with lower costs helping bottomline growth. The combined net profit of 698 companies rose 15.7% to Rs 42183 crore on 2% growth in sales to Rs 321044 crore in Q1 June 2009 over Q1 June 2008.

Annual monsoon rains, running between June to September, are seeing a revival after a sluggish start. India's monsoon rains were 15% above normal in the week to 22 July 2009, the second consecutive week of above-average rainfall after an exceptionally dry patch at the start of the season. Total cumulative monsoon, which runs from June to September, was 19% below average, improving from a 27% deficit in the previous week, the India Meteorological Department said on on Thursday, 23 July 2009.

More than two-thirds of the people live in villages and 60% of the farm land depends on the annual rains.

On the flip side, India's exports declined by 29.7% in June 2009 from a year earlier, R.S. Gujaral, Director General of Foreign Trade, said Friday, 24 July 2009. The declining trend in exports is expected to continue for some more time, he said.

European markets were trading firm today, 27 July 2009, extending a 2-week rally, on gains in bank stocks. Key benchmark indices in UK, Germany and France were up by between 0.23% and 1.2%.

Asian markets were trading firm today, 27 July 2009 on upbeat corporate earnings. Key benchmark indices in Hong Kong, China, Taiwan, Singapore, South Korea and Japan rose by between 0.79% and 1.86%.

Wall Street ended on a mixed note on Friday, 24 July 2009. The Nasdaq Composite index fell, snapping a 12-day winning streak, following Microsoft Corp's disappointing quarterly results. But gains in pharmaceutical and energy shares lifted the Dow and the S&P 500 to fresh 8-month closing highs. The Dow rose 23.95 points, or 0.26%, to 9,093.24. The Standard & Poor's 500 Index rose 2.97 points, or 0.30%, to 979.26. But the Nasdaq Composite Index declined 7.64 points, or 0.39%, to 1,965.96.

Trading in US index futures showed the Dow could rise 32 points at the opening bell on Monday, 27 July 2009.

The BSE 30-share Sensex was down 3.92 points or 0.03% to 15,375.04. The Sensex opened 28.07 points lower at 15,350.89. The Sensex rose 84.13 points at the day's high of 15,463.09, its level since 12 June 2009, in early trade. The Sensex lost 150.50 points at the day's low of 15,228.46 in afternoon trade.

The S&P CNX Nifty was up 3.75 points or 0.08% to 4,572.30. Nifty July 2009 futures were at 4576.30, at a premium of 4 points as compared to the spot closing.

The Sensex is up 5727.73 points or 59.31% in calendar year 2009 as on 27 July 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex has risen 7,214.64 points or 88.41% as on 27 July 2009.

Coming back to today's trade, turnover on NSE's futures & options (F&O) segment was Rs 50,488.19 crore, sharply lower than Rs 72,581.23 crore on Friday, 24 July 2009. The BSE clocked a turnover of Rs 6036 crore, lower than Rs 6,846.64 crore on Friday, 24 July 2009

The market breadth, indicating the overall health of the market, was strong. On BSE, 1672 shares advanced as compared with 985 that declined. 87 shares remained unchanged.

The BSE Mid-Cap index gained 1.63% to 5,469.50 and BSE Small-Cap index rose 1.53% to 6,142.74. Both these indices outperformed the Sensex

The BSE Realty index (up 3.11%), the BSE Consumer Durables index (up 1.66%), BSE Capital Goods index (up 0.69%), the BSE Power index (up 2.29%), the BSE IT index (up 0.61%), the BSE TECk index (up 0.88%), the BSE FMCG index (up 3.64%), the BSE Metal index (up 1.93%), BSE PSU index (up 0.33%), the BSE Healthcare index (up 0.27%), outperformed the Sensex.

The BSE Auto index (down 0.51%), the BSE Oil & Gas index (down 3.09%), the BSE Bankex (down 0.07%), underperformed the Sensex.

Among the 30-member Sensex pack, 16 declined while the rest gained

India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) lost 3.81% to Rs 1937 after the company reported disappointing Q1 June 2009 results after trading hours on Friday, 24 July 2009. But the stock came off the day's low of Rs 1908. RIL has a 14.12% weightage in the Sensex.

RIL's net profit fell 11.5% to Rs 3636 crore on a 22.9% decline in sales to Rs 32055 crore in Q1 June 2009 over Q1 June 2008. RIL saw its net profit dip for the third straight quarter, as margins from its refining business halved and the global recession reduced fuel demand. RIL's gross refining margins (GRMs) - the difference between cost of crude oil and the price of refined petroleum products - came down 52.22% to $7.5 per barrel in Q1 June 2009 compared with $15.7 per barrel in Q1 June 2008.

India's largest state-run oil explorer by market capitalisation ONGC slumped 2.99% on reports the company is delaying the development of as many as 66 small discoveries because production from the fields may not be enough to recover costs.

GAIL India slumped 3.61% after net profit fell 26.9% to Rs 655.84 crore on 5.1% rise in net sales to Rs 6021.42 crore in Q1 June 2009 over Q1 June 2008. The company declared its results on Saturday, 25 July 2009.

Shares of state run oil marketing companies slipped on rise in crude oil prices. HPCL (down 1.42%), and Indian Oil Corporation (down 0.74%), edged lower. However, BPCL rose 0.14%. Higher oil prices will results in increase underrecoveries at the state-run oil firms on domestic sale of petrol, diesel, LPG and kerosene at a controlled price.

Castrol India galloped 9.38% after net profit rose 55% to Rs 128.40 crore on a 2.56% rise in total income to Rs 646.80 crore in Q2 June 2009 over Q2 June 2008. The result was announced during trading hours today, 27 July 2009.

India's largest truck market by sales Tata Motors gained 3.76% to Rs 387.55, rebounding sharply from day's low of Rs 356.80 after net profit rose 57.54% to Rs 513.76 crore on a 7.17% decline in total income to Rs 6723.99 crore in Q1 June 2009 over Q1 June 2008. Analysts had expected a steep fall in net profit due to lower sales volume. The result was announced at the fag end of the trading sessions today, 27 July 2009.

Tata Motors attributed the strong results to continued focus on cost efficiencies, decline in raw material prices and improvement in sales realization

But other auto stocks dropped on profit taking after a recent sharp surge. India's top small car maker by sales Maruti Suzuki India declined 0.79%. The stock had stuck a record high of Rs 1397.50 in intra-day trade on Friday, 24 July 2009 buoyed by better than expected results announced during market hours on Thursday, 23 July 2009.

India's largest bike manufacturer by sales Hero Honda Motors lost 2.81% ahead of its Q1 June 2009 results on 29 July 2009. India's biggest tractor maker by sales Mahindra & Mahindra dropped 1.92% ahead of its Q1 June 2009 results on 30 July 2009

India's largest private sector bank by net profit ICICI Bank slipped 1.75% to Rs 753.40, off day's high of Rs 784.80 on profit taking. The bank's net profit rose 20.63% to Rs 878.22 crore on a 2.2% decline in operating income to Rs 9223.32 crore in Q1 June 2009 over Q1 June 2008. The bank, which reported its earnings on Saturday, 25 July 2009, has a 7.61% weightage in Sensex.

Cost-cutting measures and treasury profits enabled the country's largest private lender, ICICI Bank, beat market estimates in Q1 June 2009. ICICI Bank recorded a treasury income of Rs 714 crore in Q1 June 2009 as against a loss of Rs 594 crore in Q1 June 2008.

India's biggest bank in terms of branch network State Bank of India (SBI) rose 0.44% after the state-run bank reduced interest rates on deposits by 25-50 basis points (a basis point equals one-hundredth of a percentage point) with effect from today, 27 July 2009.

Bank of Baroda lost 3.53% despite reporting a 84.80% rise in net profit to Rs 685.38 crore on 24.4% rise in total income to Rs 3806.37 crore Rs 4735.15 crore in Q1 June 2009 over Q1 June 2008.

Andhra Bank rose 1.29% after net profit jumped 230.10% to Rs 256.22 crore on 37.9% rise in total income rose to Rs 1,745.92 crore in Q1 June 2009 over Q1 June 2008. The bank declared results on Saturday, 25 July 2009.

Bank of India (BOI) lost 4.21% after the bank's net non-performing assets jumped 96.41% to Rs 1234.43 crore in Q1 June 2009 over Q1 June 2008. BoI's net profit rose 3.98% to Rs 584.32 crore on 22.09% rise in total income to Rs 5,023.61 crore in Q1 June 2009 over Q1 June 2008. The state-run declared its results during trading hours today, 27 July 2009.

Analysts expect the Reserve Bank of India (RBI) to maintain a status-quo on key policy rates in its quarterly policy meet on Tuesday, 28 July 2009 following surplus liquidity in the banking system and low demand for credit. The central bank is also likely to lay out a more clear roadmap to conduct the government borrowing programme in a smooth manner and may hike the GDP and inflation forecast for the year ending March 2010 (FY 2010).

Earlier, the Reserve Bank of India (RBI) had cut the repo rate, or its key short-term lending rate, by 425 basis points to 4.75% in six steps since October 2008 as it tried to guard a slowing economy against the global financial crisis. The central bank also slashed the reverse-repo rate by 275 basis points since early December 2008 and brought down the cash reserve requirement by 400 basis points to 5% since early October 2008 to keep credit flowing.

India's largest FMCG company by sales Hindustan Unilever surged 6.70% to Rs 301 after striking a 52-week high of Rs 305.40 on BSE in intra-day trade today, 27 July 2009. The stock advanced ahead of its Q1 June 2009 results on Tuesday, 28 July 2009. It was the top gainer from the Sensex pack.

Other FMCG stocks also logged gains on fresh buying after revival in monsoon. Nestle India (up 3.98%), Marico (up 2.62%), Britannia Industries (up 1.72%), Tata Tea (up 3.35%) and Dabur India (up 2.46%), gained. FMCG companies derive substantial revenue from rural sales.

Godrej Consumer Products surged 9.57% to Rs 227.30 after net profit jumped 75.9% to Rs 60.29 crore in Q1 June 2009 over Q1 June 2008. The stock hit a record high of Rs 235 today, 27 July 2009.

Asian Paints jumped 2.96% after net profit rose 67.8% to Rs 164.45 crore on a 17% rise in sales to Rs 1164.82 crore in Q1 June 2009 over Q1 June 2008.

India's second largest private sector power generation company by sales Tata Power Company surged 5.82%. The company during trading hours on 22 July 2009, said strong response for its global depository receipt (GDR) issue helped it raise $335 million as compared with an earlier announced plan to raise $250 million. The company will use the funds for its ongoing capital expenditure plans. Tata Power issued 14.8-million GDRs priced at $22.58 a piece, with each GDR representing one equity share, Tata Power said.

India's largest power generation firm by sales NTPC gained 1.33%. The company reported 27.05% rise in net profit to Rs 2193.62 crore on 24.59% rise in total income to Rs 12778.96 crore in Q1 June 2009 over Q1 June 2008. The results were declared by the company after market hours today, 27 July 2009

Realty stocks gained on the government's thrust on the housing sector in the Union Budget 2009-10. DLF (up 4.64%), Unitech (up 0.80%), Housing Development & Infrastructure (up 4.50%), Parsvnath Developers (up 5.72%), Omaxe (up 13.66%), and Indiabulls Real Estate (up 2.15%), advanced.

Telecom pivotals held firm of the first meet of group of ministers (GoM) to decide on the base price for 3G spectrum on 31 July 2009.

India's second largest cellular services provider by sales Reliance Communications rose 2.32%. India's largest listed cellular services provider by sales Bharti Airtel advanced 1.93%.

The GoM is set up to look into matters relating to pricing of spectrum and number of operators to be allowed in each telecom circle. The finance ministry had proposed a base price of Rs 4,040 crore for 3G spectrum, whereas the Department of Telecom (DoT) suggested a price of Rs 3,540 crore. While presenting the Union Budget, the finance minister, Mr Pranab Mukherjee, said Rs 35,000 crore was expected to be raised from the auction.

Metal stocks extended recent gains on firm base metal prices. LMEX, a gauge of six metals traded on the London Metal Exchange rose 0.43% on Friday, 24 July 2009. National Aluminium Company (up 0.62%), JSW Steel (up 6.21%), Tata Steel (up 3.93%), rose. India's largest private sector copper marker by sales Sterlite Industries India ended unchanged at Rs 652.80

Copper and aluminum jumped to the highest in nine months in Shanghai after China reiterated its commitment to sustain economic growth in the world's largest consumer of industrial metals. Zinc climbed to a 10-month high.

Infrastructure stocks rose on the government's thrust on the infrastructure sector in the Union Budget 2009-2010. Bharat Heavy Electricals (up 2.48%), Lanco Infratech (up 5.46%), GMR Infrastructure (up 3.99%), IVRCL Infrastructure (up 0.74%), GVK Power Infrastructure (up 6.40%), rose. However India's largest engineering & construction company by sales Larsen & Toubro was down 0.33%

India's largest dam builder by sales Jaiprakash Associates slipped 0.58% to Rs 240.10 on profit booking. The stock surged to day's high of Rs 254 after reporting 292.28% spurt in net profit to Rs 491.18 crore on a 77.19% spurt in total income to Rs 2116.86 crore in Q1 June 2009 over Q1 June 2008. The results were announced on Saturday, 25 July 2009.

IT stocks ended mixed on recent reports that the third largest global energy company British Petroleum is likely to award outsourcing contracts worth up to $1 billion in August 2009. India's second largest IT firm by sales Infosys rose 0.92%. However, India's largest IT exporter by sales TCS fell 0.72%. On 17 July 2009, TCS announced Q1 results that beat market expectations. India's third largest IT exporter by sales Wipro slipped 0.10%. On 22 July 2009, Wipro announced better-than-expected Q1 results.

Reliance Industries was the top traded counter on BSE with turnover of Rs 330.04 crore followed by DLF (Rs 280.43 crore), HDIL (Rs 222.42 crore), ICICI Bank (Rs 188.96 crore) and Jaiprakash Associates (Rs 188.20 crore).

Ispat Industries was the top traded counter on BSE with volume of 1.90 crore shares followed by Suzlon Energy (1.76 crore shares), Mahindra Satyam (1.70 crore shares), IFCI (1.59 crore shares) and Cals (1.50 crore shares).

Tyre shares gained on fresh buying following robust earnings reported by Apollo Tyres and JK Tyre. MRF (up 16.85%), Goodyear India (up 9.10%), and Apollo Tyres (up 4.56%), gained.

MRF today reported a 294% jump in net profit to Rs 125.70 crore on 12.4% rise in net sales to Rs 1433.55 crore in Q3 June 2009 over Q3 June 2008. JK Tyre reported a two fold spurt in net profit, while Apollo Tyres posted a 95% jump in net profit in Q1 June 2009 over Q1 June 2008.

Bharat Electronics surged 4.58% after net profit galloped 2785.3% to Rs 72.71 crore on 134.7% spurt in net sales to Rs 900.98 crore in Q1 June 2009 over Q1 June 2008. The company announced the results after market hours on Friday, 24 July 2009.

Gujarat NRE Coke spurted 9.11%. The company had on 20 July 2009, forfeited 4.55 crore convertible warrants and application money totaling Rs 39 crore held by promoter group consequent to expiry period of these warrants. The forfeiture of convertible warrants has eased concerns of equity dilution.

Godrej Industries soared 10% ahead of its Q1 June 2009 results on Wednesday, 29 July 2009.

Fortis Healthcare rose 8.82%. The company, during market hours on Friday, 24 July 2009, had reported 8.3% fall in net profit to Rs 1.56 crore on a 26.5% increase in sales to Rs 48.59 crore in Q1 June 2009 over Q1 June 2008.

Closing Bell 27 July 2009

Closing Bell 27 July 2009

The Indian markets remained volatile during the day. Although they opened in the positive, intense selling activity at higher levels led the markets to languish in the red for the rest of day. However, in the final hour of trading session renewed buying activity at lower levels led markets to recoup some of its losses. While the BSE BSE-Sensex closed lower by 12 points, the NSE-Nifty managed to close just above dotted line recording gains of around 2 points. However, stocks from the mid-cap and small-cap spaces ended the day on a strong note, recording gains of 1.4% each. Stocks from the banking, auto and energy sectors were at the receiving end, while stocks from the FMCG and realty sectors garnered investors’ interest. The advance to decline ratio was poised at 1.9 to 1 on the NSE.

Other Asian markets ended the day on a firm note. The European indices are currently trading mixed. Rupee was trading at 48.20 against the US dollar at the time of writing.

Asian Paints announced its 1QFY10 last Saturday. The company has reported an 18% YoY growth led by the decorative paints business. The company has witnessed a 5% expansion in operating margins during the quarter largely due to a fall in raw material costs and other expenditure (as percentage of sales). Net profits clock a robust 66% YoY growth led by 60% YoY growth in operating profits and higher other income. The stock of Asian Paints ended on a firm note.

Energy stocks ended the day lower led by Reliance Industries and ONGC. As per a leading business daily, ONGC has kept on hold the development of its six prospective discoveries that were made in the recent years due to the lack of sufficient infrastructure for development. In fact, three of these six assets lie in isolated areas where there is no infrastructure availability. The company has also not found customers for these discoveries. However, the company plans to develop infrastructure in a gradual manner for these projects going forward. These six discoveries are part of the 66 assets which the company has found in the recent years. The remaining finds are under various stages like production, development, delineation, appraisal and ongoing study. It may be noted that over the last 6 years, ONGC has made around 111 discoveries of which 45 have been put into production. For FY09, ONGC's crude oil production was 6.1 m tonnes, while the natural gas production was 5.75 bn cubic meters. The stock of ONGC closed in the negative.

As per estimates, India has to generate an incremental 10,000 MW capacity per year for the next 10 years to plug the demand supply gap. There is a need to shift the policy goal from energy conservation to energy efficiency and from energy inputs to the effectiveness of energy use and energy services. The Bureau of Energy Efficiency (BEE), which functions under the Ministry of Power, through its star campaign has saved 6,528 m units of power. This is roughly equivalent to three days of national consumption. The government's star campaign urged households to go for star-studded certified energy-saving appliances products and made industries adopt new technologies, helping save electricity worth 1,500 mw in FY09. BEE has set a target of saving 10,000 mw of power during the 11th Five Year Plan. Out of this, 2,100 mw has been achieved so far. It has set a target of 2,600 mw for FY10 and 3,000 mw for FY11.

The Indian markets continued to languish in the red during the previous two hours of trade. However, the overall market breadth remained positive as the total numbers of gainers outnumbered the total numbers of losers by 1.5 to 1 on the BSE. While buying activity is being witnessed in stocks from the realty, FMCG and metal sectors, stocks from the oil & gas and auto spaces are trading weak.

The BSE-Sensex and NSE-Nifty are trading weak, down by around 25 points and 10 points respectively. The BSE-Midcap and the BSE-Smallcap indices are however trading higher, up by around 1% each. The Rupee is trading at 48.23 to the Dollar.

Energy stocks are currently trading weak led by Reliance Industries, GAIL and ONGC. Castrol India announced its results today. During 2QCY09, the company reported a muted 3% YoY increase in revenues. However, on account of an 11% YoY decrease in costs, the company's operating profits increased by a whopping 57% YoY. The reduction in operating costs was largely on account of 12% YoY decline in raw material costs (as a percentage of sales). During the quarter, the company's operating margins expanded by 10.6% YoY to 31%. On account of a strong operating performance, Castrol recorded a 55% YoY increase in profits. As for its 1HCY09 performance, the company recorded a 3% YoY increase in revenues and a 32% YoY increase in profits as compared to the corresponding period in the previous year. It may be noted that during the quarter, the company was able to achieve such a strong operating performance as it held on to its product prices in spite of the sharp decline in input costs. The numbers speak immensely for the brand value attached to the company and its products.

Pharma companies are currently trading firm led by Wockhardt, Cadila Healthcare and Lupin. As part of its corporate debt restructure (CDR) program, pharmaceutical major, Wockhardt had eatlier decided to divest stake in its non-core businesses. However, a leading business daily today has reported that the company has decided to go slow as it has already secured the required funds for payments that are due in the current year. Under the CDR, Wockhardt has to divest its non-core assets at an estimated value of almost Rs 8 bn but the company has been given six years to complete the transaction. It is believed that the company is waiting for higher valuations before it puts such assets on the block. Some of the divestments include a few of its brands in the consumer health division, a 32-acre dairy and milk processing unit in Punjab and part of the 250 acres of land in Aurangabad. In addition, the company's promoter is also planning to divest less than 26% stake in Wockhardt Hospitals. It must be noted that Wockhardt's debt equity ratio is as high as 2.3:1 and the company had already sold its German generics business to raise funds to retire some of its debt.

Heavy selling activity among the index heavyweights led the Indian markets to trade below the dotted line during the previous two hours of trade. Buying activity is being led by stocks from the realty and FMCG sectors, while select energy and auto stocks are trading in the red. The overall market breadth is positive, with total gainers outnumbering the losers in the ratio of 1.8 to 1 on the BSE.

While the BSE-Sensex is trading lower, down by around 10 points, the NSE-Nifty is trading flat. However, the BSE-Midcap and the BSE-Smallcap indices are trading higher, up by around 1.0% and 1.2% respectively. The Rupee is trading at 48.21 to the Dollar.

As per a leading business daily, ITC plans to focus on its high margin agri business in order to increase its margins and net profits. It may be noted that earlier the company had been contemplating exiting its non profitable divisions. Subsequently, it exited from the some commodity relates businesses which were not profitable namely those with products like non-basmati rice, course cereals and pulses. It currently plans to focus on the sourcing of raw materials for the high margin commodity segment. For this, the company is leveraging its e-Choupal network, set up in rural India to source the raw materials and sell finished products in the markets. Currently, the company has 6,500 e-Choupals and plans to increase the number to 20,000 by 2012. During 1QFY10, ITC's revenues from the agri business declined by 49% YoY, while the net profits reported a growth of 31% YoY on account of its continuous effort of increasing profitability from the segment. The segment contributes around 10% to ITC's total consolidated revenues. The stock is trading marginally higher.

Pharma stocks are trading mixed. While Fresenius Kabi is trading firm, Ranbaxy and Glenmark Pharma are in the red. Ranbaxy had announced its 2QCY09 results last Friday. The revenues declined by 1% YoY due to the adverse impact on its US business (that declined 41% YoY in dollar terms) on the back of the ongoing issues with the US FDA. The European markets were also impacted and declined by 12% YoY on account of price regulation and currency devaluation in the Romanian markets. However, the emerging markets performed well during the quarter. Operating margins tanked to 3% during the quarter on the back of a substantial increase in raw material and staff costs as a percentage of sales. This resulted in a net loss for the quarter to the tune of Rs 1 bn (excluding extraordinary profits on account of reversal of the forex loss reported in 1QCY09). Going forward, Ranbaxy expects the branded and emerging markets to continue to help it offset difficult conditions in the developed markets. However, solving the issues with the US FDA will be the key in getting the company's growth back on track.

In line with its Asian peers, the Indian markets too have opened the day's proceedings on a positive note. Buying is being witnessed across sectors with FMCG, engineering and telecom stocks leading the pack of gainers. The overall advance to decline ratio is poised at 2.7:1 on the NSE. As regards global markets, while the US markets ended higher led by better-than-expected corporate results, the European markets ended in the red last Friday. The Asian markets are trading firm currently.

The BSE Sensex is trading higher by around 40 points. The NSE Nifty is up 5 points. The BSE Midcap and the BSE Smallcap indices are trading higher by 1%. The rupee is trading at 48.12 to the dollar.

Bharat Forge announced its 1QFY10 results last Friday. The topline reported a drop of 44% YoY led by decline in both, the domestic and the export business. Exports saw a 52% YoY decline, while the domestic sales saw a drop of 38% YoY. However, on a sequential basis, some improvement was seen. The topline did improve to report a 23% QoQ growth. On the operating margins front, the company witnessed a decline by 3.6% YoY due to higher staff costs as a percent of sales. Excluding the exchange loss, the net profit declined by 84% YoY led by a 52% YoY fall in the operating profits and lower other income. The company is witnessing some recovery in the US and the European markets. It also has plans for restructuring its subsidiaries and rationalisation of manpower costs. While on a year to year basis, the performance was impacted due to the unprecedented downturn, with auto sales now seeing an improvement the management expects the scenario to improve. Auto ancillaries stocks are trading higher.

Godrej Consumer Products (GCPL) is planning to acquire a 100% stake in Godrej Sara Lee (GSL). Godrej Sara Lee, is a 49:51 joint venture company between two wholly-owned subsidiaries of Godrej & Boyce and Sara Lee Corp. GSL is the market leader in household insecticides, air care and hair cream in India. It has popular brands like GoodKnight, JET, HIT, AmbiPur, Brylcreem and KIWI. Globally, Sara Lee has announced that it would like to sell off its household and body care division. GCPL had earlier decided to acquire a 49% holding in GSL by merger of Godrej ConsumerBiz Private (GCBPL) and Godrej Hygiene Care Private (GHCPL) into itself. The company now plans to acquire the remaining 51% stake. The deal size is estimated to be around Rs 8.5 to 9 bn. The proposed consolidation would strengthen the position of GCPL in the FMCG market and give it the strategic flexibility and scale to pursue growth opportunities. It will also provide cost and operational synergies and widen the brand portfolio considerably. FMCG stocks are trading in the positive territory.

The next few quarters are likely to be a tough period for the Reserve Bank of India (RBI) when it comes to maintaining a balance in its monetary policy. With India's fiscal deficit widening to 6.8% of gross domestic product (GDP) and government borrowings likely to rise to Rs 4.5 trillion, the central bank is in for a challenge on how to gravitate within its interest rate spectrum.

As you know, maintain the right level of interest rates to propel growth and at the same time keep inflation under control is the prerogative of the RBI. And how successful will it be in doing this balancing act remains to be seen.

Most economists expect the RBI to maintain a status quo on interest rates (and not increase rates) given that we still remain unclear about the sustainability of an economic recovery. Further, factors such as poor monsoons and slow credit growth cannot be ignored.

During the month of June, the monsoon deficit figure stood as high as a 48%, the lowest in nearly 15 years. As for data related to the credit growth, the same is believed to have come down to 16% YoY in the month of June, which is again the slowest in a few years.

Proponents of a cut in interest rates further cite the declining inflation as a major reason. As a matter of fact, the wholesale price index (WPI) inflation rate has been in the negative zone for about six weeks and as per the latest available data, it stands at a negative 1.17% (or deflation). The central bank is thus expected by some to cut rates further to help revive demand and bring the country out of deflation, which is considered even worse than inflation.

So, how will RBI do a balancing act? We will not hazard a guess here. There are, in fact, too many variable factors that the bank needs to take into account before announcing its next policy action.

BSE NSE Indian Share Market Voices 27 July 2009

BSE NSE Indian Share Market Voices 27 July 2009

Notwithstanding a bright spell in the positive territory in morning trade, it was a flat close for the Indian stock market today as investors chose to tread a cautious path amid a slew of earnings reports.

Global markets were firm but investors back home appeared none too keen on building up positions ahead of the monetary policy statment of the Apex bank.

The Sensex ended the day at 15,367.47 (provisional) with a marginal loss of 11.49 points. In intra-day trades, the Sensex hit a high of 15,463 and a low of 15,228.

Select IT and capital goods moved higher. Midcap and smallcap stocks found good support. The market breadth was strong once again.

HUL, Tata Power, DLF, Tata Steel, Tata Motors, ITC, BHEL and RComm rallied sharply. Grasim, Bharti Airtel, NTPC and Infosys also closed on a firm note.

RIL fell on weak results and ended nearly 4% down.

ONGC, Hero Honda, M&M, ICICI Bank, HDFC and Hindalco also closed on a weak note.

Axis Bank, Jindal Steel, Suzlon, SAIL, Power Grid, HCL Technologies and PNB ended with notable gains.

GAIL, Idea Cellular, Ranbaxy and Tata Comm declined sharply.

Zee Entertainment Enterprises touched an intraday high of Rs 185.85 and an intraday low of Rs 174. At 2:31 pm, the share was quoting at Rs 176.40, down Rs 7.5, or 4.08%.

It was trading with volumes of 288,954 shares. On Friday the share closed down 0.03% or Rs 0.05 at Rs 183.90.

The market is likely to remain volatile over the next few sessions due to expiry of July series derivatives contracts.

With global economy showing signs of a revival, a fair amount of short covering is likely in the F&O segment over the next couple of sessions.

Short term traders can take advantage of rallies and book some profits.

Cipla touched an intraday high of Rs 289 and an intraday low of Rs 279.50. At 2:35 pm, the share was quoting at Rs 280, down Rs 3.45, or 1.22%. The company has board meet on July 29 on QIP/NCD/FCCB issue, reports CNBC-TV18. It was trading with volumes of 77,351 shares. Yesterday the share closed down 0.28% or Rs 0.80 at Rs 283.45.

Zee Entertainment Enterprises touched an intraday high of Rs 185.85 and an intraday low of Rs 174. At 2:31 pm, the share was quoting at Rs 176.40, down Rs 7.5, or 4.08%. It was trading with volumes of 288,954 shares. On Friday the share closed down 0.03% or Rs 0.05 at Rs 183.90.

Titan Industries has posted a net profit of Rs 46.04 crore for the quarter ended June 2009, a rise of 41% over the figure recorded in the corresponding quarter last year. The stock, which had touched a high of Rs 1375 this morning, is currently trading at Rs 1335 with a gain of 1.6%. Over 37,000 shares have changed hands at the Titan Industries counter today. The average daily volume at the counter over the past couple of weeks is around 5200 shares.

Mehraboon Irani, Senior VP-Equity, Centrum Broking is of the view that CESC can appreciate about 25-30% from here over the next six months

"Despite the 3% increase in the topline, CESC's operating profit was sharply higher but interest cost possibly took up some of the chunk from the bottomline. The bottomline was up around 12%. But having said that the fact is that we need to understand that CESC has worked very hard. One crore a day they are saving on transmission and distribution (T&D) cost that is number one. Secondly, their plant load factor (PLF) for the four operational plants is around 90-95% which is also a good thing. Thirdly, it is working on a 600 megawatt (MW) plant at Haldia for which they need only 40 acres of land. Once they are able to get that particular land there should be financial closure for this particular plant also". - Mehraboon Irani told CNBC-TV18

GAIL India touched an intraday high of Rs 364.70 and an intraday low of Rs 339.05. At 2:03 pm, the share was quoting at Rs 339.15, down Rs 13.05, or 3.71%. It was trading with volumes of 356,644 shares. On Friday the share closed up 1.92% or Rs 6.65 at Rs 352.20. Global economy appears to be recovering gradually.

Still, it is not the right time to go on a buying spree in the market.

Quarterly numbers have mostly been good this time around with some top notch companies even beating forecasts.

Since the market has run up pretty fast over the past few months, a few strong corrective spells are not ruled out. Blue chips can be picked up in a staggered manner.

MIC Electronics touched an intraday high of Rs 45.50 and an intraday low of Rs 41.30. At 2 pm, the share was quoting at Rs 41.40, down Rs 3.35, or 7.49%.

It was trading with volumes of 840,529 shares. On Friday the share closed up 9.41% or Rs 3.85 at Rs 44.75.

Bata India has target of Rs 220-225: Mehraboon Irani "I personally feel that markets have not understood well Bata's numbers. I think 8% increase in sales; around 20% increase in profit before interest depreciation in tax and the bottomline increase of 13%, which has failed to cheer the market as of now. What impresses me about Bata which we have tracked quite closely is that the earnings per share of 2.88 is a definite increase over Q1. Let us understand that Bata's yearend is in December. March quarter was around 2.52, this 2.88; if we put it together it works around Rs 5.3 EPS for the first half of the year." - Mehraboon Irani told CNBC-TV18

Balrampur Chini has posted a net profit after extraordinary items of Rs 662.90 million for the quarter ended June 30, 2009 as compared to Rs 168.50 million for the quarter ended June 30, 2008.

The stock is up 1.25% at Rs 109.20. One looking at long term can pick up more of this stock at dips.

Lanco Infratech (Rs 440) can be retained for long term.

Though a correction looks likely after recent strong gains, one can use sharp dips to add more quantities.

Technical Analyst, Vijay Bhambwani is of the view that one can invest in Shree Cements with be 2 or 3 quarter time frame.

"In Grasim you can take a positional punt rather than an intraday punt. Shree Cements would be 2 or 3 quarter time frame kind of an investment at the present levels because this stock has been showing a huge amount of relative strength comparative vis-a-vis the Nifty Fifty. On Ambuja Cement one could take a punt intraday with Rs 1-2 kind of a target objective because of all the three Ambuja Cemenst would be the shortest term perspective because this stock actually has been lagging off late and Grasim for the medium term and Shree Cements for the long term. - Bhambwani told CNBC-TV18

Investment Advisor SP Tulsian is of the view that Ranbaxy Laboratories can add Rs 10-12 from current level.

"The performance of Ranbaxy has definitely been better because in fact we have sent the EBITDA of about 7% and I am not going by the bottomline, which has mainly got a boost because of the reversal of the derivative losses and the forex losses to the extent of about Rs 800 crore. But atleast they have EBITDA positive to the extent of about 7% EBITDA margin. The management has hinted that they will be able to achieve a topline of close to Rs 7000 crore with net loss of about Rs 800 crore for the calendar year 09 but the drop or the problem which they have been facing continuously to be the US market. If they can improve on that front in the next two quarters for the calendar year 09 I do not think that you have any fear on the stock." - Tulsian told CNBC-TV18

Technical Analyst, Vijay Bhambwani is bullish on ICICI Bank.

"I am bullish on ICICI Bank because I feel that the banking stocks are actually under pressure in the absolute short term. But over a period of 2-3 quarters I do expect ICICI Bank once it sustains above the Rs 810 levels over the next 3-4 quarters to actually go into four digits and along with HDFC Bank, which would be the first choice in the private sector bank. ICICI Bank could actually lead the surge. - Bhambwani told CNBC-TV18

Due to heavy selling in some blue chip stocks, the market has plunged deeper into the red this afternoon.

The Sensex is down by nearly 125 points at 15,254 and the Nifty has lost around 33 points at 4535.60.

Oil and auto stocks are down sharply in the red. Some key stocks from banking, PSU and capital goods sectors have also declined sharply on selling pressure.

Bank of Baroda touched an intraday high of Rs 454 and an intraday low of Rs 414.50. At 12:48 pm, the share was quoting at Rs 418.80, down Rs 14.4, or 3.32%. It has declared its Q1FY10 numbers. Its standalone net profit was up 84.89% to Rs 685.38 crore from Rs 370.86 crore, YoY.

Technical Analyst, Ashwani Gujral is of the view that Bank of Rajasthan has resistance at Rs 79.

"Bank of Rajasthan has support around Rs 52 and has got resistance around Rs 73 and then Rs 79. But banks overall are not showing the same kind of strength that they were doing earlier on." - Gujral told CNBC-TV18

Bank of India has posted a net profit of Rs 5843.20 million for the quarter ended June 30, 2009 as compared to Rs 5619.50 million for the quarter ended June 30, 2008. The stock is down by around half a per cent at Rs 345.75. Fresh buying can be considered at Rs 310 - 320 levels.

Omaxe touched an intraday high of Rs 117.70 and an intraday low of Rs 101. At 12:32 pm, the share was quoting at Rs 113.20, up Rs 12.55, or 12.47%. It was trading with volumes of 581,860 shares, compared to its five-day average of 180,779 shares, an increase of 221.86%. Yesterday the share closed up 5.67% or Rs 5.40 at Rs 100.65. - CNBC-TV18

Centrum Broking is of the view that there is much room for an upside for Shree Cements because valuation wise it is attractive and performance wise it is simply superb. - Mehraboon Irani told CNBC-TV18

Manishi Raychaudhuri, MD & HOR, BNP Paribas Securities has reduced rating on Tata Motors.

"The structural problem with Tata Motors is if one looks at the, if one leave out this short term things that is just the quarterly numbers etc, the structural problem is 65-70% of the revenues still come from United States and Western Europe and these markets are not really reviving. So we currently have a reduced recommendation on Tata Motors and we really do not see the possibility of any significant reversal to that atleast in the medium term." - Raychaudhuri told CNBC-TV18

Mahindra & Mahindra (cmp Rs 827) can be tried for intra-day if the stock rises to Rs 832 and stays firm for a while. A rise to Rs 840 - 845 is possible in intra-day trades. A stop loss can be placed at Rs 820.

Godrej Industries was locked at 10% upper circuit. It touched an intraday high of Rs 153.05 and an intraday low of Rs 140 at 12:06 pm. The share was quoting at Rs 153.05, up Rs 13.90.

There were pending buy orders of 57,590 shares, with no sellers available.

It was trading with volumes of 549,441 shares, compared to its five-day average of 251,854 shares, an increase of 118.16%.

On Friday the share closed up 0.32% or Rs 0.45 at Rs 139.15.

Investors long in GAIL India can stay invested and buy more at declines.

The stock can rise to Rs 410 - 415 and in the event of a strong breakout there, a rise to Rs 450 or even higher is possible.

A stop loss can be placed around Rs 280.

United Phosphorous touched an intraday high of Rs 169.70 and an intraday low of Rs 161.60. At 10:47 am, the share was quoting at Rs 166.10, up Rs 5.65, or 3.52%.

The company is eyeing Gharda Chem, reports DNA.

It was trading with volumes of 202,985 shares. On Friday the share closed up 7.04% or Rs 10.55 at Rs 160.45.

Bank of Baroda's net profit rose to Rs 6853.80 million for the quarter ended June 30, 2009 from Rs 3708.60 million for the quarter ended June 30, 2008. The bank's total income increased from Rs 38063.70 million for the quarter ended June 30, 2008 to Rs 47351.50 million for the quarter ended June 30, 2009.

The stock, which was up in the positive territory earlier in the day, has slipped into the red on announcement of results. At present, it is down with a marginal loss at Rs 430. One holding the stock with a long term plan can stay invested.

Fresh buying can be considered at sharp declines.

Manishi Raychaudhuri, MD & HOR, BNP Paribas Securities feels that there is a lot of steam left in Gujarat State Petronet, GSPL.

"In general power I think has not really been a big outperformer or underperformer. If you look at slightly broader space, the utility space in general we have liked GSPL. Those numbers clearly surprised positively and we think there is a lot of steam left in that stock purely on a fundamental basis. Apart from that I think on the pure power utility side we have not been very bullish. In fact in our model portfolio we do not have exposures to the power front liners like NTPC or Tata Power for that matter. - Raychaudhuri told CNBC-TV18

Castrol India has posted a net profit after tax of Rs 1284.00 million for the quarter ended June 30, 2009 as compared to Rs 828.00 million for the quarter ended June 30, 2008.

Total income has increased from Rs 6306.00 million for the quarter ended June 30, 2008 to Rs 6468.00 million for the quarter ended June 30, 2009.

The stock is up by 5.2% at Rs 425. On BSE, the Castrol counter has clocked a volume of 37,800 shares today, much higher than the average daily volume of around 18,700 shares.

Sell Union Bank of India at below 234 : ICICI Direct

Technical Analyst, Ashwani Gujral is of the view that one can buy Reliance Industries on declines.

"When this sort of news comes in, you let Reliance Industries for couple of days like on Sterlite, on the second day you got about Rs 560 and that was basically the low. So probably one more day and all the pent up selling, everybody who wants to get out gets out and then you get around that Rs 1,840-1,850 if you get there. So Reliance clearly is a buy on these bad results and even the market the reaction it is showing, is clearly showing strength and if Reliance tends to pick up in the later half of the day, then you will see further short-covering which could take out key levels later on in the day." - Gujral told CNBC-TV18

Divi's Laboratories Buy above at 1125 : ICICI Direct

The Nifty (4585) will find support at 4570 but a strong breach there could result in a fall to 4550 or even lower.

On the upmove, the benchmark can rise sharply if a decisive breakout happens at 4595.

Buy Bajaj Hindustan with stop loss at 181 : ICICI Direct

HCL Technologies has entered into a strategic alliance with eBaoTech Corporation, a leading provider or new generation software and services for life and general insurance industry.

HCL Tech will work with eBaoTech to identify fitment of eBaoTech products in select geographies and customers will now have access to a single integrated entity that can help them modernize their cor business managment systems and have a global reach through cost effective solutions.

Buy Nifty above 4568 : ICICI Direct

S Kumars Nationwide touched an intraday high of Rs 43.55 and an intraday low of Rs 41.10. At 10:18 am, the share was quoting at Rs 42.85, up Rs 1.75, or 4.26%.

The company board has approved issue of 1.24 crore warrants to promoters on preferential basis, reports CNBC-TV18. It was trading with volumes of 362,921 shares. On Friday the share closed up 5.52% or Rs 2.15 at Rs 41.10.

Nucleus Software Exports Ltd has informed that one of the major customers of an overseas subsidiary of the company, has on July 25, 2009 given notice to this subsidiary of partial cancellation of contracts, on a date one month from receipt of notice.

As per legal opinion received, and an assessment by management, there is no liability on the Parent Company, and there is no impact on the financial results of the Company for this quarter.

The Nucelus Software stock has declind sharply to Rs 86, netting a loss of 4.25%.

Sell Nagarjuna Construction at below 136 : ICICI Direct

ICICI Bank has beat forecast once again and posted strong results for the April - June 2009 quarter.

The numbers, however, have not triggered any significant buying at the counter till now. The stock is currently trading with a modest gain of 0.45% at 770. One holding the stock can stay invested and look to add more quantities at sharp dips.

Nifty has strong support at 4380-4350 levels, unless we see a break below this point markets are safe and healthy and every fall is a buying opportunity.

Major breakout will be only if nifty sustains above 4600 in the near future, till then we see the markets remaining in the range of 4140-4600. Going forward the focus should be in the midcap space as the large caps will remain sideline. - Nirmal Bang

Stocks to watch

Gail (India) Ltd, after the state-run gas transporter posted a 27 per cent fall in June quarter net profit.

Reliance Petroleum, after it posted net profit of Rs 105 crore ($22 million) for the June quarter on net sales of Rs 7639 crore.

Godrej Consumer Products Ltd after the personal care products maker posted a 78 per cent rise in June quarter net profit, beating forecasts.

Quarterly Results: Areva T & D India Ltd, Ashok Leyland Ltd, Punj Llyod, Tata Motors Ltd and Tata Teleservices (Maharashtra) Ltd

Brokerage Recommenations 27th July 2009

Buy Tata Steel with a target of Rs 465 and then it can go to Rs 530, says Mitesh Thakkar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 457, up 3.3% on the BSE.

Buy NIIT Ltd. with a target of Rs 75-90 and stop loss of Rs 57, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 63, down 1.9% on the BSE.

Buy JK Paper with a target of Rs 35 and stop loss of Rs 28, says Neera Jain of crnindia.com on CNBC Awaaz. The stock is currently trading at Rs 31, up 7.8% on the BSE.

Sell Nifty futures with a target of 4450 and stop loss of 4620, says Ashwani Gujral, technical analyst, on CNBC TV18, as closing market strategy.

Buy Mahindra Satyam with a target of Rs 110 and stop loss of Rs 96, says Salil Kapoor, technical analyst, on CNBC Awaaz, as closing market strategy.

Buy Neyvelli Lignite with a target of Rs 160 and stop loss of Rs 130, says Nitin Murarka, technical analyst, on Zee Business, as closing market strategy.

Buy GMR Infra with a target of Rs 155 and stop loss of Rs 144, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.

Maintain Nifty longs with a target of 4640 and stop loss of 4530, says Rahul Mohindar, technical analyst, on CNBC TV18, as closing market strategy.

Buy Nifty futures with a target of 4640 and stop loss of 4540, says Salil Kapoor, technical analyst, on CNBC Awaaz, as closing market strategy.

In an F&O call, buy Nifty July futures with a target of 4590-4630 and stop loss of 4510, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Till Nifty is above 4510 the momentum is intact and after a pause the market is likely to head upward, he says.

In an F&O call, buy Nifty July futures with a target of 4590-4650 and stop loss of 4480, says Salil Kapoor, technical analyst, on CNBC Awaaz.

In an F&O call, buy Nifty July futures with a target of 4700 and stop loss of 4387, says Anuj Dixit, technical analyst, on CNBC Awaaz. In the short term, the market may move sideways but the medium term trend is up, he says.

In an F&O call, sell Nifty July futures with a target of 4450 and stop loss of 4600, says Ashwani Gujral, technical analyst, on CNBC Awaaz. In the near term, if there is global weakness, the market may correct but then it is headed upwards, he says. Close to Nifty 4600 book part profits, he adds.

Buy Welspun Gujarat with a target of Rs 225 after which it can go to Rs 350, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 210, down 1.36% on the BSE.

Citi maintains hold on ICICI Bank with a medium-term target price of Rs 830 and Credit Suisse maintains underperform with a target of Rs 538, reports NDTV Profit. ICICI Bank is currently trading at Rs 754, down 1.75% on the BSE.

Buy Suzlon with a target of Rs 117-130 and stop loss of Rs 90, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 105, up 1.64% on the BSE.

Buy L&T on dips and in staggered fashion, says Ashish Kapur of Invest Shoppe on CNBC Awaaz. It is the best infrastructure stock to be invested in, he adds. The stock is currently trading at Rs 1492, down 0.40% on the BSE.

Buy Biocon with a target of Rs 240 and stop loss of Rs 210, says Neera Jain of crnindia.com on CNBC Awaaz. The stock is currently trading at Rs 219, down 1.37% on the BSE.

Buy DLF with a target of Rs 441-480 and stop loss of Rs 333, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 413, up 5.04% on the BSE.

Post the disappointing RIL results, JP Morgan reduces its target price to Rs 2200 and Credit Suisse cuts its down to Rs 1494, reports NDTV Profit. RIL is currently trading at Rs 1923, down 4.5% on the BSE.

Buy Tata Steel with a target of Rs 490 and stop loss of Rs 400, says Neera Jain of crnindia.com on CNBC Awaaz. The stock is currently trading at Rs 456, up 3.7% on the BSE.

Buy Jindal Steel with a target of Rs 3100 and stop loss of Rs 2600, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 3091, up 2.8% on the BSE.

Hold Gujarat Ambuja Export and exit at Rs 25, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 14, he adds. The stock is currently trading at Rs 20, up 2.7% on the BSE.

Buy Oracle Finance with a short-term target of Rs 1380, medium-term target of Rs 1450 and stop loss of Rs 1230, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 1340, up 0.38% on the BSE.

Hold GMR Infrastructure with target of Rs 180, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 125, he adds. The stock is currently trading at Rs 142.65, up 0.9% on the BSE.

Buy Tech Mahindra with target of Rs 860, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 784, he adds. The stock is currently trading at Rs 787, down 1.1% on the BSE.

Hold Reliance Power with target of Rs 190-210, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 160, he adds. The stock is currently trading at Rs 173, up 0.2% on the BSE.

Sell RPL with target of Rs 110-113, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 120.40, down 4.1% on the BSE.

Hold Tata Motors with target of Rs 411, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 357 and resistance at Rs 380, he adds. The stock is currently trading at Rs 367.20, down 1.7% on the BSE.

Hold ICICI Bank with targets of Rs 800 and then 950, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 750, he adds. The stock is currently trading at Rs 758.80, down 1.1% on the BSE.

Buy Maruti with target of Rs 1500, says Ashwani Gujral, technical analyst, on CNBC TV18. It has support at Rs 1250, he adds. The stock is currently trading at Rs 1359.85, down 1.3% on the BSE.

Hold Videocon Industries with targets of Rs 190 and then 230, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 170, he adds. The stock is currently trading at Rs 182.95, down 1.7% on the BSE.

Hold Hanung Toys with target of Rs 90, says Pankaj Jain of Satguru Capital on Zee Business. Keep stop loss of Rs 63, he adds. It has resistance at Rs 83, he says. The stock is currently trading at Rs 74.25, up 1% on the BSE.

At noon, the market comes off the day's highs, slipping into the red. Sensex is trading at 15370, down 8 points from its previous close, and Nifty is at 4565, down 2 points. CNX Midcap index is up 1.2% and BSE Smallcap index is up 1.2%.

Buy Ashok Leyland with targets of Rs 38.50 and then 47, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 34.70, down 3.1% on the BSE.

Buy Monnet Ispat with target of Rs 300 in 3-6 months, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 240, he adds. The stock is currently trading at Rs 257, up 0.3% on the BSE.

Hold Jaiprakash Associates with short-to-medium target of Rs 270-300, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. Keep short-term stop loss of Rs 235 or long-term stop loss of Rs 214, he adds. The stock is currently trading at Rs 245.45, up 1.6% on the BSE.

Buy Gail with target of Rs 450 in four quarters, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 348, down 1.2% on the BSE.

The RIL (Reliance Industries) results are below estimates and a knee-jerk reaction is possible, says Raamdeo Agrawal of Motilal Oswal Securities on CNBC TV18. He believes that RIL is not likely to be a big outperformer for the next 2-3 quarters. Watch out for commodity plays, especially the cement companies, he adds. He expects no change in the Credit Policy tomorrow.

Buy Suzlon Energy with target of Rs 140, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 95, he adds. The stock is currently trading at Rs 105.70, up 2.2% on the BSE.

Hold Jaiprakash Associates with stop loss of Rs 228, says Prakash Gaba, technical analyst, on CNBC Awaaz. It is showing a good upmove, he adds. The stock is currently trading at Rs 246, up 1.9% on the BSE.

Hold Tata Motors with target of Rs 446, says Pankaj Jain of Satguru Capital on Zee Business. It has resistance at Rs 390, he adds. The stock is currently trading at Rs 369.10, down 1.2% on the BSE.

Hold Canara Bank with targets of Rs 290 and then 295, says Nitin Murarka of SMC Global on Zee Business. Keep short-term stop loss of Rs 260, he adds. The stock is currently trading at Rs 275.45, up 0.3% on the BSE.

Buy Tata Motors with targets of Rs 400 and then 450, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 367.20, down 1.7% on the BSE.

Buy Sesa Goa with target of Rs 270, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 218, he adds. The stock is currently trading at Rs 234.10, up 0.3% on the BSE.

Buy Tata Steel with target of Rs 465, says Rahul Mohinder, technical analyst, on CNBC TV18. The stock is currently trading at Rs 453.10, up 3% on the BSE.

Buy Jaiprakash Associates with target of Rs 260, says Rahul Mohinder, technical analyst, on CNBC TV18. The stock is currently trading at Rs 249.50, up 3.3% on the BSE.

Buy Escorts with intra-day target of Rs 70, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 62, he adds. The stock is currently trading at Rs 66.60, up 2% on the BSE.

Buy Balrampur Chini with intra-day target of Rs 115, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 105, he adds. The stock is currently trading at Rs 109.20, up 1.5% on the BSE.

Buy Ceat with intra-day target of Rs 135, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 127, he adds. The stock is currently trading at Rs 130.50, up 1% on the BSE.

Buy TCS at Rs 482 with intra-day target of Rs 491, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 475, she adds. The stock last traded at Rs 481.85, up 1.3% on the BSE.

Buy Emco with intra-day target of Rs 90, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 85, he adds. The stock last traded at Rs 86.50, down 1.8% on the BSE.

Buy Suzlon Energy at Rs 103 with intra-day target of Rs 108, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 100, she adds. The stock last traded at Rs 103.40, up 7.2% on the BSE.

RIL may see a 3-4% knee jerk reaction on disappointing results, says Deven Choksey of KR Choksey Securities on CNBC TV18. We have downgraded its FY10 EPS estimates by 4%, he adds. He believes that the market is likely to be range-bound with the upside capped around 4660 on the Nifty and says to watch out for bank stocks ahead of the Credit Policy tomorrow.

Buy Gail at Rs 353 with intra-day target of Rs 361, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 347, she adds. The stock last traded at Rs 352.20, up 1.9% on the BSE.

Closing Bell 24 July 2009

Closing Bell 24 July 2009

The Indian benchmark indices began the day's proceeding on a volatile note, but ended the day well above dotted line on account of intense buying activity witnessed in post noon session. The BSE-Sensex ended the day higher by around 145 points, while the NSE-Nifty closed higher by about 44 points. Stocks from the mid-cap and small-cap spaces also closed in the green, recording gains of 1.6% and 1.8% respectively. While buying activity was witnessed across sectors, stocks from the banking sector were at the receiving end. The advance to decline ratio was poised at 2.4 to 1 on the NSE.

Other Asian markets also ended the day in the positive. The European indices are currently trading firm. Rupee was trading at 48.34 against the US dollar at the time of writing.

As per a leading business daily, Shriram Transport Finance company (STFC), one of the largest asset financing NBFCs in India is raising Rs 10 bn with yield-on-redemption of up to 11.5% annually. The company is coming out with an issue of non-convertible debentures (NCDs) of Rs 5 bn. The company will have an option to retain over-subscription of up to Rs 5 bn. The commercial vehicle financer has raised funds in order to support the incremental growth in its loan book. The company is also looking to enter the equipment financing business with a focus on retail borrowers. The company's capital adequacy ratio stood at 16.35%. The stock of STFC closed in the red.

Ambuja Cements announced its results late last evening. The company reported a topline growth of 19.9% YoY during 2QCY09 led by higher volumes and realisations. The sales volumes were higher by 9.1% YoY, while the growth in realisations stood at 9.9% YoY. The growth in demand was sustained on account of the delayed monsoon, ongoing construction activity in rural and semi urban areas along with infrastructure activity. Operating profits growth was capped at 9.9% YoY as cost of operations continued to grow at a faster rate as compared to the topline. While power and fuel costs were moderate, the overall cost of operation was pushed upwards by higher raw material costs. Net profit declined by 43.7% YoY on account of an absence of extraordinary income which was present in 2QCY08. Growth in profits excluding extraordinary income stood at 7.1% YoY, which is equal to the growth in profit before tax. The board declared an interim dividend of 1.2 per equity share. Cement sector stocks closed mixed.

Total rainfall in India was 15% above normal in the week to 22 July, but was still 19% below normal for the 1st June to 22nd July period. Weak monsoons especially in the state of Bihar, the country's leading corn producer, and Uttar Pradesh, which produces more than half of India's sugarcane is likely to impact sowing of the crops adversely. Sugar output in UP is likely to fall by at least 500,000 tonnes, or 11%, in the new season that begins in October because of poor rains. The sugar production in the current year is expected to be the lowest in the last three years. During the sugar season 2007-08, the sugar production in the country fell to 26 million tons (MT) from 28 million tons in 2007-08. As against that, the production in the current year is estimated to be only 16.5 MT. From being an exporter, India's shift to importer is widely seen as one of the most important dynamics affecting the global sugar market. Expectations are growing that it will need substantial imports again in the new season to satisfy its domestic needs. This has pushed the sugar prices up. In fact, in the last one year sugar prices have registered a 70% increase.

The Indian markets gained ground during the previous two hours of trade led by heavy buying activity across sectors. Buying activity is led by stocks from the auto, realty and metal sectors, while select banking and energy stocks are trading weak. The overall market breadth is positive, with total gainers outnumbering the losers in the ratio of 1.9 to 1 on the BSE.

The BSE-Sensex and NSE-Nifty are trading firm, up by around 130 points and 50 points respectively. The BSE-Midcap and the BSE-Smallcap indices are also trading higher, up by around 1.5% and 1.7% respectively. The Rupee is trading at 48.33 to the Dollar.

Energy stocks are trading mixed. While ONGC is trading firm, Reliance Industries is in the red. ONGC announced its 1QFY10 results yesterday. The company's standalone topline declined by 26% YoY in 1QFY10. This was mainly on account of discontinuance of trading of MRPL products during the quarter as compared to Rs 25 bn from the same in 1QFY09. However, on a like to like basis, ONGC's topline declined by 15% YoY in 1QFY10. Operating margins increased from 58% to 64% as trading of MRPL products were stopped during the quarter. However, on a like to like basis operating margins showed a decline of 3% during the quarter. The standalone bottomline declined by 27% YoY, despite lower subsidy during the quarter. The impact of subsidies on the topline stood at Rs 4 bn in 1QFY10 as compared to Rs 98 bn in 1QFY09, while the impact on the bottomline stood at Rs 2 bn as compared to Rs 55 bn in 1QFY09.

Power stocks are trading firm led by Reliance Infrastructure and NTPC. As per a leading business daily, Reliance Infrastructure has invited bids to procure 1,500 MW of power in order to meet the demand for its Mumbai distribution license area. As per the tender document floated by the company, power will be procured for a period of 25 years. The company has already received the approval for inviting the bids for power procurement. Currently, Reliance Infrastructure distributes around 1,400 MW power in the suburbs of Mumbai for which 500 MW of power is procured from its own plant in Dahanu and 500 MW comes from Tata Power, while the remaining is purchased from the open markets. It may be noted that Tata Power has informed the company that it will not be supplying power from 2010 onwards. As a matter of fact, the company had purchased 11% more electricity from external sources during FY09. Also, its cost of electricity purchased had risen from Rs 5.1 per unit in FY08 to Rs 7.9 per unit in FY09 which had adversely impacted its margins during the fiscal. While, the procurement through tender will not solve the company's immediate power requirement, it would certainly help it increase the power supply in the future.

The Indian markets moved into the negative territory during the previous two hours of trade on account of selling activity among the index heavyweights. Currently, stocks from the energy and banking sectors are leading the pack of losers, while select auto and IT stocks are trading firm. The overall market breadth is positive, with total gainers outnumbering the losers in the ratio of 1.4 to 1 on the BSE.

The BSE-Sensex and NSE-Nifty are trading weak, down by around 10 points and 5 points respectively. However, the BSE-Midcap and the BSE-Smallcap indices are trading higher, up by around 0.9% and 0.7% respectively. The Rupee is trading at 48.40 to the Dollar.

Hotel stocks are trading mixed. Oriental Hotels is trading weak, while both Hotel Leelaventure and Indian Hotels are trading marginally higher. Oriental Hotels announced its 1QFY09 results yesterday. The company's topline has declined by 30% YoY during the period, mainly on account of the global economic slowdown that led to lower tourist arrivals. The company mainly caters to business and leisure travellers and both the segments were affected on account of the slowdown. This resulted in lower room rates and occupancy levels for the company. In fact, the industry occupancy rates have declined by 30% YoY during the first two months of the quarter in all major cities, which resulted in 10% to 15% fall in the room rates. While fixed costs remained intact on account of lower realisations and occupancy levels, overall it led to a fall in operating margins by 18% YoY to 16.2% during the quarter. All the cost heads rose during the quarter (on a % of sales basis) as compared to the corresponding quarter in the previous year. Lower sales, decline in operating profits along with higher depreciation and interest expenses resulted in a 94% YoY decline in net profits.

The competition in the IT outsourcing space is getting stiffer by the day. According to a leading business daily, Indian IT majors like Infosys, TCS, Wipro, Tech Mahindra etc. are vying with global players like Accenture and IBM in gaining a share in the US$ 1 bn IT outsourcing deal from British Petroleum (BP). BP's IT outsourcing contracts pertains to application development, system integration and infrastructure management across its different business units, which are fragmented between 30 different IT service providers, resulting in increased costs and complexity. BP seeks to cut its IT cost by 30% by consolidating its outsourcing between fewer vendors, for catering to more work at a lower rate. While the company has not disclosed the consolidated number of vendors, this will definitely benefit those who emerge as winners of the competition. It goes without saying that prospects are better for firms like Tech Mahindra and Infosys, which already work with the European oil major. The stocks from the IT space are trading in the green led by Infosys.

Tracking its global counterparts, the Indian indices have opened the day's trade on a buoyant note. While telecom, FMCG and energy stocks are witnessing selling pressure, power, construction and metal stocks are in favour. The overall advance to decline ratio is poised at 3.5:1 on the NSE. As regards global markets, the US and the European markets ended higher yesterday. The Asian markets are trading firm currently.

The BSE Sensex is trading higher by around 110 points. The NSE Nifty is up 20 points. The BSE Midcap and the BSE Smallcap indices are trading higher by more than 1% each. The rupee is trading at 48.32 to the dollar.

ITC announced its first quarter results yesterday. The net sales increased by 5% YoY on account of 23% YoY growth in sale of cigarettes and 16% YoY growth in sales from the paperboard, paper and packaging business. Price hike, volume growth and product mix improvement led to the strong growth by the cigarette division. However, this was offset by a decline of 49% YoY and 28% YoY in sales from the agri and hotels businesses respectively. For hotels, the cutting back on corporate travel along with the steep reduction in international travel as a fallout of the global financial crisis triggered a significant slide in occupancies and average room rates at ITC hotels. The FMCG segment saw a 10% YoY growth. The operating margins increased to 34% in 1QFY10, from 30% for 1QFY09. This improvement comes due to a drop in cost of goods sold which fell from 46% of sales in 1QFY09 to 39% this quarter. Net profits grew by 17% YoY. While the growth in the cigarette segment is positive, performance of the FMCG and hotel segment would continue to be under pressure. FMCG stocks are trading mixed.

Italian auto giant Fiat and Tata Motors are in talks for a joint marketing project to sell Ferraris and Maseratis in India. Both Ferrari and Maserati brands are under Fiat's control. Tata Motors with the acquisition of Jaguar and Land Rover for US$ 2.3 bn last year had marked its entry in the luxury segment. In India, Tata Motors and Fiat have a 50:50 joint venture Fiat Automobiles India Ltd, which manufactures engines, among others. Further, the two auto majors are also planning to introduce Nano in the Latin America market. Fiat has a strong presence in this region with Brazil being its second-biggest market after Italy. Tata Motors has plans to export Nano to Europe, South America and Southeast Asia. The Nano has passed the European "crash test" safety standard allowing it to be sold in the European market and a launch can be foreseen at the end of 2011. Identifying exports as a major growth area, over the past few years, Tata Motors has given a significant thrust on increasing its geographical presence. The revenues from exports accounted for 18% of the consolidated revenues in FY08. The management aims to increase this share to 25%. This will help the company to reduce its dependence on the domestic region. Auto stocks are in the green currently.

If the financial meltdown was truly global in scale, it also brought out a unified response from governments and central bankers worldwide, including Asia. And there was a broad consensus on the solution to the crisis - economic stimulus. Now that a few months have passed since the stimulus packages were announced, it is perhaps time to look around to see if the results are starting to show.

The results in Asia at least seem to be positive. For example, as per government data released yesterday, India's core industrial sector i.e., crude oil, oil products, coal, electricity, cement and steel has registered a growth of 4.8% YoY in the April-June quarter of this fiscal. This is as compared to 3.5% YoY growth that was recorded during the corresponding period last year.

Countries like South Korea are also doing well. As per Bloomberg, its economy in the last quarter grew at the fastest pace in almost six years. China and Singapore are also participating in a regional turnaround. In fact, the Asian Development Bank says that the East Asian economies (i.e., excluding Japan, South Asia and Central Asia) will rebound from the global economic crisis in a 'V-shaped' fashion.

It would seem that the stock markets have presaged this development as can be seen from the rise in the benchmark indices of India, China and South Korea since the start of this fiscal. Investors who kept their faith at a time when there was no cheer from economic data would be reaping rich rewards now. This opportunity was also available to long term investors in India.

BSE NSE Market Report 24 July 2009

BSE NSE Market Report 24 July 2009

Key benchmark indices surged, extending Thursday (23 July 2009)'s 2.61% rally as encouraging Q1 June 2009 results, signs of pick up in the economy, revival of monsoon and firm global markets, lifted sentiment. The BSE 30-share Sensex gained 147.92 points or 0.97% to 15,378.96, off 39.65 points from the day's high, and 210.44 up points from the day's low. The barometer index today struck its highest level in more than a month. But volatility was high.

The BSE Sensex advanced 634.04 points or 4.3% in the week ended Friday, 24 July 2009 extending previous week's 9.19% surge.

Coming back to today's trade, auto, realty and metal shares logged smart gains. However banking shares faltered ahead of quarterly monetary policy review meet on Tuesday, 27 July 2009. Among stock specific action, auto pivotals Tata Motors and Maruti Suzuki surged. ONGC and Infosys also logged decent gains.

Volatility was high. The market slipped into the red soon after an early surge triggered by rally in US stocks on Thursday, 23 July 2009. The market regained positive zone shortly. The market lost ground once again with the Sensex hitting intraday low in early afternoon trade. It once again regained positive zone later. The market surged in mid-afternoon trade as European stocks rose.

A string of robust corporate earnings along with rallying global markets had helped the BSE Sensex regain the 15,000 mark on Thursday with a 2.61% surge.

The Q1 June 2009 results announced so far have encouraging, with lower costs helping bottomline growth. The combined net profit of 473 companies rose 17.40% to Rs 30972 crore on 5.4% growth in sales to Rs 206373 crore in Q1 June 2009 over Q1 June 2008.

European markets advanced today, 24 July 2009, reversed initial losses on improved economic data in the euro zone. Key benchmark indices in UK, Germany and France were up by between 0.08% and 0.63%.

The Markit euro-zone composite purchasing managers index rose to a 10-month high of 46.8 in July 2009, up form 44.6 in June 2009, according to data released Friday, 24 July 2009. Economists had expected a more modest rise to 45.3. A reading of less than 50 means a majority of managers saw a contraction in activity, while a reading of more than 50 signals expansion.

The Ifo Institute's German business climate index rose to 87.3 in July 2009, up from 85.9 in June 2009. That was better than the 86.5 reading that economists had forecast.

But data in UK was weak. Britain's economy shrank in the second quarter to register its biggest annual decline since comparable records began in 1955, official data showed on Friday, 24 July 2009. The Office for National Statistics said GDP fell by 0.8% on the quarter, taking the annual decline to 5.6%. GDP dropped 2.4% in the first quarter.

Asian markets extended gains for the ninth straight session today, 24 July 2009 on overnight gain in US stocks and after South Korea's economy grew at the fastest pace in almost six years. Key benchmark indices in Hong Kong, China, Singapore, South Korea and Japan rose by between 0.41% and 1.95%. However Taiwan's Taiwan Weighted index slipped 0.11%.

South Korea's economy grew at the fastest pace in more than five years in the second quarter from the previous quarter, adding to hopes that the recovery in Asia's fourth-largest economy is sustainable. Gross domestic product in the three months ended June 2009 rose a seasonally adjusted 2.3%, accelerating from a revised 0.1% gain in gross domestic product in the first quarter, a central bank estimate showed on Friday, 24 July 2009.

Meanwhile, the Asian Development Bank (ADB) said on Thursday, 23 July 2009 that emerging East Asia has entered the transition from recession to a possible V-shaped recovery, but policymakers must maintain monetary expansionary policies as risks remain. Growth could dip sharply in 2009 before regaining last year's pace in 2010, ADB said.

Trading in US index futures showed the Dow could rise 21 points at the opening bell on Friday, 24 July 2009. Dow futures were in red earlier in the day.

US markets surged on Thursday, 23 July 2009 sending the Dow Industrials above the key 9,000 mark for the first time in seven months as strong corporate profits and rebounding home sales spurred optimism about the economy.

The Dow gained 188.03 points, or 2.12%, to 9,069.29. The S&P 500 index rose 22.22 points, or 2.33%, to 976.29. The Nasdaq Composite Index rose 47.22 points, or 2.45%, to 1,973.60.

In economic data, sales of US existing homes rose for the third consecutive month in June 2009 by 3.6% to an annual rate of 4.89 million, up from 4.77 million in May 2009, the National Association of Realtors (NAR) said on Thursday, 23 July 2009.

New claims for US unemployment benefits jumped last week, as employers cut payrolls to cope with the severe recession, government data showed Thursday, 23 July 2009. The Labor Department said first-time claims for unemployment insurance benefits rose to a seasonally adjusted 554,000 in the week ended 18 July 2009, after a revised 524,000 in the preceding week.

Closer home, annual monsoon rains, running between June to September, are seeing a revival after a sluggish start. India's monsoon rains were 15% above normal in the week to 22 July 2009, the second consecutive week of above-average rainfall after an exceptionally dry patch at the start of the season. Total cumulative monsoon, which runs from June to September, was 19% below average, improving from a 27% deficit in the previous week, the India Meteorological Department said on on Thursday, 23 July 2009.

More than two-thirds of the people live in villages and 60% of the farm land depends on the annual rains.

In a move that my boost sentiment, foreign institutional investors (FIIs) and the non-resident Indians (NRIs) were allowed to invest in Indian Depository Receipts (IDR), according to the operational guidelines issued by the Reserve Bank of India on Wednesday, 22 July 2009. FIIs, including the Securities & Exchange Board of India (Sebi) approved sub-accounts of the FIIs registered with Sebi and NRIs may invest, purchase, hold and transfer IDRs of eligible companies resident outside India and issued in the Indian capital market, subject to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2000.

Meanwhile, the latest economic data indicated improving economic activity. The six infrastructure industries -- crude oil, refining, coal, electricity, cement and steel -- together grew at an annual rate of 6.5% in June 2009, faster than the previous month's rise of 2.8%, data showed on Thursday, 23 July 2009. The infrastructure sector accounts for 26.7% of India's industrial output.

Inflation measured by the wholesale price index (WPI) declined 1.17% in the 12 months to 11 July 2009, as compared with previous week's annual decline of 1.21%, government data showed on Thursday, 23 July 2009.

Meanwhile, bankers expect the Reserve Bank of India (RBI) to maintain a status-quo in its key rates in its quarterly policy meet on Tuesday, 28 July 2009 following surplus liquidity in the banking system and low demand for credit. The central bank is also likely to lay out a more clear roadmap to conduct the government borrowing programme in a smooth manner and may hike the GDP and inflation forecast for the year ending March 2010 (FY 2010).

Earlier, the Reserve Bank of India (RBI) had cut the repo rate, or its key short-term lending rate, by 425 basis points to 4.75% in six steps since October 2008 as it tried to guard a slowing economy against the global financial crisis. The central bank also slashed the reverse-repo rate by 275 basis points since early December 2008 and brought down the cash reserve requirement by 400 basis points to 5% since early October 2008 to keep credit flowing.

The BSE 30-share Sensex was up 147.92 points or 0.97% to 15,378.96, its highest close since 11 June 2009. The Sensex opened 40.97 points higher at 15,272.01. The Sensex rose 187.57 points at the day's high of 15,418.61 in early trade, its highest level since 12 June 2009. The Sensex lost 62.52 points at the day's low of 15,168.52 in early afternoon trade.

The S&P CNX Nifty was up 44.80 points or 0.99% to 4,568.55, its highest closing since 12 June 2009. Nifty July 2009 futures were at 4578, at a premium of 9.45 points as compared to the spot closing.

The Sensex is up 5,731.65 points or 59.41% in calendar year 2009 as on 24 July 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex has risen 7,218.56 points or 88.45% as on 24 July 2009.

Coming back to today's trade, turnover in NSE's futures & options (F&O) segment was Rs 72,581.23 crore, lower than Rs 74,885.56 crore on Thursday, 23 July 2009. The BSE clocked a turnover of Rs 6815 crore, much lower than Rs 8078 crore on Thursday, 23 July 2009

The market breadth, indicating the overall health of the market, was strong. On BSE, 1773 shares advanced as compared with 923 that declined. 89 shares remained unchanged.

The BSE Mid-cap index gained 1.67% to 5,381.81 and BSE Small-cap index rose 1.81% to 6,050.20. Both these indices outperformed the Sensex

The BSE Realty index (up 4.26%), the BSE Consumer Durables index (up 2.37%), the BSE Auto index (up 5.14%), BSE Capital Goods index (up 1.49%), the BSE Power index (up 1.66%), the BSE IT index (up 1.93%), the BSE TECk index (up 1.87%), the BSE FMCG index (up 1.28%), the BSE Metal index (up 2.39%), outperformed the Sensex.

The BSE PSU index (up 0.42%), the BSE Healthcare index (up 0.53%), the BSE Oil & Gas index (up 0.06%), the BSE Bankex (down 0.88%), underperformed the Sensex.

Among the 30-member Sensex pack, 23 gained while the rest slipped

Auto stocks were the star performers of the day, with the BSE Auto index gaining over 5%, the most among sectoral indices on BSE, helped by a better-than-expected Q1 results from auto major Maruti Suzuki India during trading hours on Thursday. Shares of India's top small car maker by sales shot up 6.38% to Rs 1378 after striking a record high of Rs 1397.50 in intra-day today, 24 July 2009. The stock extended yesterday's 6.71% surge. Net profit jumped 25.26% to Rs 583.54 crore on a 31.01% increase in total income to Rs 6709.53 crore in Q1 June 2009 over Q1 June 2008.

Strong Maruti results boosted sentiment for other auto shares. India's top truck marker by sales Tata Motors soared 8.65% to Rs 369.80 after its American depository receipt (ADR) advanced 3.49% on Thursday, 23 July 2009. Meanwhile Tata Motors is reportedly conducting a feasibility study to sell its cars in Indonesia. It was the top gainer from the Sensex pack. The company will unveil its Q1 June 2009 results on 27 July 2009.

India's top tractor maker by sales Mahindra & Mahindra gained 3.64% ahead of its Q1 results on 30 July 2009. India's second largest bike manufacturer by sales Bajaj Auto rose 1.28% and India's largest bike manufacturer by sales Hero Honda Motors rose 3.86%

Ashok Leyland climbed 8.48% ahead of its Q1 June 2009 results to be announced on Monday, 27 July 2009.

Rally in auto counters spilled over to auto components manufacturers as their fortunes are closely linked to the performance of auto companies. Rico India (up 19.89%), Munjal Auto (up 13.36%), Munjal Showa (up 8.41%), Automotive Axles (up 10.71%), Bosch (up 2.97%), Amtek Auto (up 13.78%), and Subros (up 6.13%) edged higher.

Bharat Forge jumped 13.59% after the company expressed positive outlook for the future at the time of announcing Q1 June 2009 results. Bharat Forge's net profit tumbled 96.39% to Rs 0.96 crore on 43.98% fall in total income to Rs 363.82 crore in Q1 June 2009 over Q1 June 2008. The company announced the results before trading hours today, 24 July 2009.

Commenting on the results, Mr B N Kalyani chairman and managing director (CMD) of the company said the automotive industry in India has started showing early signs of recovery which is likely to strengthen in the coming quarters while the volumes in the US and European market are starting to stabilize at lower levels. Going forward, the company expects, this would translate into improved off-take for components, he added.

India's largest private sector firm by market capitalisation and oil refiner Reliance Industries (RIL) lost 1.38% to Rs 2010. The stock moved in a band of Rs 2064.90 and 1985.20 in the day. The company's net profit fell 11.53% to Rs Rs 3636 crore on 21.64% decline in total income to Rs 32757 crore in Q1 June 2009 over Q1 June 2008. The results were unveiled after market hours today, 24 July 2009.

India's largest state-run oil explorer by market capitalisation ONGC galloped 3.41% to Rs 1130.10, rebounding sharply from day's low of Rs 1073.10. The company reported a 26.9% fall in net profit to Rs 4847.92 crore on a 25.8% decline in sales to Rs 14879.27 crore in Q1 June 2009 over Q1 June 2008. The results unveiled after market hours on Thursday, 23 July 2009, beat market expectations.

Deep Industries gained 4.95% after net profit rose 33.13% to Rs 2.17 crore on 83.09% rise in net sales to Rs 11.15 crore in Q1 June 2009 over Q1 June 2008. The company announced the results after market hours on Thursday, 23 July 2009.

Gujarat State Petronet galloped 4.28% after net profit surged 146.6% to Rs 80.49 crore on a 76.4% rise in sales to Rs 210.82 crore in Q1 June 2009 over Q1 June 2008. The results were announced after market hours yesterday, 23 July 2009.

Metal stocks extended gains for the second day as LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.29% on Thursday, 23 July 2009. Hindalco Industries (up 3.75%), JSW Steel (up 1.40%), Tata Steel (up 6.15%), Hindustan Zinc (up 0.30%) rose.

India's largest private sector copper marker by sales Sterlite Industries surged 2.77% after a near 7% rally in its American depository receipt (ADR) on Thursday, 23 July 2009.

National Alumnium Company rose 1.52% on reports it has hiked aluminium prices by Rs 5,000 a tonne or 5%.

Realty stocks rose on the government's thrust on the housing sector in the Union Budget 2009-10. DLF (up 6.53%), Unitech (up 2.78%), Housing Development & Infrastructure (up 4.30%), Parsvnath Developers (up 7.61%), Omaxe (up 6.04%), and Ackruti City (up 4.15%), advanced.

IT stocks rose on reports British Petroleum is likely to award outsourcing contracts worth up to $1 billion in August 2009. India's second largest IT firm by sales Infosys shot up 2%. India's third largest IT exporter by sales Wipro rose 0.60%. On 22 July 2009, Wipro announced better-than-expected Q1 results. India's largest IT exporter by sales TCS gained 1.51%. On 17 July 2009, TCS announced Q1 results that beat market expectations.

India's largest pharma company by sales Ranbaxy Laboratories rose 1.68%. The company's net profit jumped 2747.59% to Rs 675.45 crore on 12.98% fall in total income to Rs 1121.58 crore in Q2 June 2009 over Q2 June 2008. The results were declared after market hours today, 24 July 2009

India's largest pharma company by market capitalisation Sun Pharma shed 1.89% to Rs 1250. On Wednesday, 22 July 2009 investors in the US initiated a lawsuit seeking class action status against Sun Pharma's US subsidiary Caraco Pharmaceutical in the United States District Court. It was the top loser from the Sensex pack

On June 25, the US FDA had announced seizure of drug products from the company's three facilities in Michigan at Detroit, Farmington Hills and Wixom. Upto 33 different drugs were seized and the US FDA banned Caraco from manufacturing and selling these drugs in the US until there is assurance that the firm complies with manufacturing standards. The action followed Caraco's continued failure to meet the US FDA's current good manufacturing practices (cGMP) requirements

India's top cigarette maker by sales ITC rose 0.33% extending yesterday's 5.39% surge after its net profit rose 17.38% to Rs 878.80 crore on 5.14% rise in total income rose to Rs 4220.49 crore in Q1 June 2009 over Q1 June 2008. The results were unveiled during trading hours today, 23 July 2009

Banking shares were subdued ahead of the Reserve Bank of India's (RBI) quarterly monetary policy review meet on Tuesday, 28 July 2009. India's largest private sector bank by net profit ICICI Bank slipped 1.28% to Rs 765, after touching day's high of Rs 794.80. India's second largest private sector bank in terms of operating income HDFC Bank lost 0.55% to Rs 1448, off day's high of Rs 1470.50

India's biggest bank in terms of branch network State Bank of India (SBI) fell 1.50% to Rs 1699.95 after striking day's high of Rs 1749.80. Finance secretary Ashok Chawla said on 22 July 2009 that the Centre will seek Cabinet approval to dilute government stake in the state-run bank.

India's largest dedicated housing finance company by sales, HDFC shed 1.36% to Rs 2402.20 on profit booking after recent strong gains. The finance firm reported 20.68% rise in net profit to Rs 564.92 crore on 22.86% rise total income to Rs 2,849.07 crore in Q1 June 2009 over Q1 June 2008. The lender announced its result during late trade on Wednesday, 22 July 2009.

Expectations about financial sector reforms remain. Chawla on 17 July 2009, said the government will introduce seven bills in parliament, including proposals for pension and banking reforms and efforts to raise the foreign investment limit in insurance companies

Infrastructure stocks rose on the government's thrust on the infrastructure sector in the Union Budget 2009-2010. Larsen & Toubro (up 0.17%), Bharat Heavy Electricals (up 1.32%), Lanco Infratech (up 5.49%), GMR Infrastructure (up 0.14%), and IVRCL Infrastructure (up 2.09%), rose

Road construction stocks were in action after the government on Thursday, 23 July 2009 cleared 15 highway projects totaling Rs 15,560 crore to be built under the public private partnership (PPP) mode in eleven states. Nagarjuna Construction Company (up 0.13%), Gammon India (up 0.52%), J Kumar Infraprojects (up 2.31%), IRB Infrastructure (up 4.80%), and Unity Infraprojects (up 0.25%) gained.

Telecom shares rose after the government on Thursday, 23 July 2009 imposed a three-year lock-in clause on stake sales by the owners of telecom companies, which were granted telecom licences last year.

India's second largest cellular services provider by sales Reliance Communications rose 0.46%.

Idea Cellular Services jumped 4.88% after net profit rose 14.7% to Rs 309.21 crore on a 29.7% increase in sales to Rs 2817.94 crore in Q1 June 2009 over Q1 June 2008. The result was announced after market hours yesterday, 23 July 2009.

India's largest listed cellular services provider by sales Bharti Airtel settled at Rs 415.90 after the company's shares turned ex-split from Rs 10 per share to Rs 5 per share. The stock had settled at Rs 813.90 on Thursday, 23 July 2009.

Select FMCG stocks gained on fresh buying after revival in monsoon. Nestle India jumped 4.46% to Rs 2093 after a bulk deal of 51115 shares was struck on the counter at Rs 2015 per share on the BSE at 10:48 IST.

Godrej Consumer Products (up 6.47%), United Spirits (up 2.13%), Britannia Industries (up 2.03%), and Nirma (up 1.01%), gained. FMCG companies derive substantial revenue from rural sales.

Mahindra Satyam was the top traded counter on BSE with turnover of Rs 359.47 crore followed by Suzlon Energy (Rs 330.74 crore), Reliance Industries (Rs 266.48 crore), Tata Steel (Rs 231.14 crore), and DLF (Rs 227.32 crore).

Mahindra Satyam was also the volume topper on BSE clocking volume of 3.38 crore shares followed by Suzlon Energy (3.27 crore shares), Cals Refineries (2.55 crore shares), Unitech (2.29 crore shares), and Ispat Industries (2.23 crore shares).

Apar Industries surged 6.41% after net profit rose 27.57% to Rs 24.48 crore on 6.76% fall in net sales to Rs 503.25 crore in Q1 June 2009 over Q1 June 2008. The company announced the results after market hours on Thursday, 23 July 2009.

Ambuja Cements declined 1.91% after net profit fell 43.74% to Rs 324.65 crore on 18.16% rise in net sales to Rs 1,847.41 crore in Q2 June 2009 over Q2 June 2008. The company declared its results after market hours on Thursday, 23 July 2009.

Shoppers Stop galloped 16.05% after Reliance Capital acquired 5.38 lakh shares in the retailer at an average price of Rs 162.01 a share in a bulk deal on the BSE on Thursday, 23 July 2009.

Essel Propack was locked at upper limit of 5% after the company posted net profit of Rs 5.24 crore in Q2 June 2009 as against net loss of Rs 9.75 crore in Q2 June 2008, on a consolidated basis. The company announced the results after market hours yesterday, 23 July 2009.