Just five companies of the BSE Sensex constituents have contributed more than 50% of the post-Budget rally in the benchmark index. The Budget was presented on February 26 and ever since the Sensex has gained nearly 8% or 1,236 points to close at 17,490 on Wednesday, hitting an eight-week high.
Leading from the front in rally were Reliance Industries Ltd (RIL) and ICICI Bank, adding together over 375 points to the Sensex. That constitutes 30% of the overall Sensex gain. RIL, which has the highest weightage of 13.15% among the constituents, has added over 227.41 points. ICICI Bank has added another 127 points. The other top contributors were Housing Development Finance Corporation (HDFC) with 92 points, Infosys Technologies with 82 points and Larsen and Toubro (L&T) with 63 points. In contrast, HUL and ONGC were lagging, pulling Sensex down by 17 and 19 points, respectively. Interestingly, 28 out of 30 stocks were gainers in the post-Budget rally.
“All these top gainers have strong fundamentals but remained on the sidelines ahead of the Budget, since fresh allocation of funds from overseas investors were not taking place,” said Deven Choksey, MD, KR Choksey Securities. He also added that the market is expecting RIL fourth quarter results to be better in view of the higher advance tax paid by the company. The company had paid Rs 770 crore as advance tax for the March quarter compared to Rs 365 crore a year ago.
Since February 25, stock prices of RIL has surged 13% while that of ICICI Bank gained 11.48%. During the period comprising 11 trading sessions, FIIs have purchased Indian equities worth Rs 13,000 crore; the highest monthly inflow (for March 2010 till date) since September 2009, when they invested Rs 18,344 crore.
On Wednesday, the BSE Sensex extended its rally by another 107 points or 0.61% to end the trading session at 17,490 while the NSE Nifty closed at 5,232, gaining 0.65% or 34 points.
The turnover on the NSE derivative segment shot up 23% to Rs 98,323 crore from the previous day’s turnover of Rs 79,943 crore.
Bought to you by
Ingenious Investor
Equity Research Division
Ravina Consulting
No.429 Mahavir Tuscan
Near Hoodi, Whitefield
Mahadevapura Post
BANGALORE 560048
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sowmya@ravinaconsulting.com
Talk / SMS 08105737966
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Showing posts with label Learn2earn NSE. Show all posts
Showing posts with label Learn2earn NSE. Show all posts
Thursday, March 18, 2010
Monday, February 22, 2010
Market Khabar 22 Feb 2010
On the back of an unexpected move by the US Fed to hike discount rate, global
markets pared their weekly gains to close on a cautious note during the week
ended.
The Sensex gained 39 points last week, to end at 16,191 and the Nifty gained 18
points to close at 4,844. Market breadth continued to be weak. Renewed selling
from FIIs also dampened the spirits of bulls. Concerns that the government may
rollback some of stimulus packages to bridge fiscal deficit also weighed heavily
on the minds of market players.
Casting their shadow on the markets in the coming week are domestic market
factors like Economic Survey, F&O settlement, Railway Budget and Union Budget.
Watch out for road maps for the rollout of goods service tax (GST) and the new
tax code.
However, low expectations from the Budget may see markets rally if the finance
minister gives some positive surprises. Expect the markets to be highly choppy
and volatile. Key levels to watch on Nifty are 4,950 on the upside and 4,700 on
the downside for spotting trend `change'.
For the week ahead, chartists predict a trading range of 15,650 and 16,580 for
the Sensex and 4,675 and 5,080 for the Nifty.
If the Budget acts as a `stimulant', expect resistance to the indices on upside
at 16,360 and 16,550 and 4,940 and 5,060, say observers.
In the event of disappointment, markets may slide below recent lows. Brace up
for big roller coaster ride as the Budget season unfolds.
Futures & Options
Robust volumes were seen in the derivatives segment even as the open interest
exceeded Rs 1,20,000 crore. Nifty OI PCR fell to 1.05 level indicating build up
of shorts ahead of the Budget week.
Nifty is likely to face strong resistance in the region of 4,900 and 4,950 and
find a good support in the region of 4,700 and 4,750. With the Economic Survey
and F&O settlement on the same day and the Union Budget lined up for a day after
the settlement, punters would do well to play `safe' by adopting strangle or
straddle strategy on Nifty to take advantage of directional breakout in the
markets. Addition of new stocks to the F&O list was a pleasant surprise.
Announcement of new fertiliser policy failed to enthuse the punters of
fertiliser stocks. However, industry experts advise buying at lower levels. Risk
aversion and fears of rate hike by RBI triggered fresh wave of selling in realty
counters.
Despite negative concerns over Bharti-Zain deal, analysts say that the move will
make Bharti a true global player warranting a better valuation. Contrarians can
buy at current levels for a target price of Rs 400.
Markets expect some indications on fuel price policy in the Budget. Buy oil
marketing majors IOC, BPCL and HPCL. Rebound in cement and sugar stocks likely
in near term. Many side counters like GVK Power, Aban, HCC, Voltas, Chambal,
Lanco Infra and others have witnessed short build-up in anticipation of
`correction' in markets after budget.
Sharp short covering in select counters not ruled out. Gains indicated in
Educomp, Financial Technologies, Ranbaxy and Cairn. There will be corrections
and crashes in the markets, but markets recover and reward investors.
Stock scan
Swiss Glasscoat Equipments is engaged in the manufacture of glass-lined
equipment such as reactors, process tankers that find use in diverse industries
like dyes, pigments, pharmaceuticals, food processing and chemicals. Turnaround
performance and prospects of takeover by a bigger player like GMM Pfaudler from
the industry triggered interest in the counter. Buy for a speculative target of
Rs 65.
Pix Transmissions is a manufacturer of industrial and automotive belts, hoses,
hose assemblies and end fittings used in power and fluid transmission business.
Recent commissioning of a fully-automated mixing plant and rigid mandrel hose
plant has reportedly improved operating margins. Buy on declines for target
price of Rs 100 in the medium term.
Shakti Pumps is a producer of stainless steel submer-sible pumps, energy saving
submersible motors and booster pumps. The company has set up a new plant at a
special economic zone at Pithampur to increase its exports. Accumulate the stock
during the correction for a target price of Rs 250.
Inclusion of Fortis Healthcare stock for the trading in futures and options
clearly indicates the heightened interest in hospital stocks.
With a very few listed counters in this segment, the interest of fund managers
may get limited to stocks like Apollo Hospitals, Indraprastha Medical and
medical equipment stocks like Siemens Health.
Look out for more opportunities in this recession-proof sector for outperforming
gains.
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.
Source : deccan.com
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
markets pared their weekly gains to close on a cautious note during the week
ended.
The Sensex gained 39 points last week, to end at 16,191 and the Nifty gained 18
points to close at 4,844. Market breadth continued to be weak. Renewed selling
from FIIs also dampened the spirits of bulls. Concerns that the government may
rollback some of stimulus packages to bridge fiscal deficit also weighed heavily
on the minds of market players.
Casting their shadow on the markets in the coming week are domestic market
factors like Economic Survey, F&O settlement, Railway Budget and Union Budget.
Watch out for road maps for the rollout of goods service tax (GST) and the new
tax code.
However, low expectations from the Budget may see markets rally if the finance
minister gives some positive surprises. Expect the markets to be highly choppy
and volatile. Key levels to watch on Nifty are 4,950 on the upside and 4,700 on
the downside for spotting trend `change'.
For the week ahead, chartists predict a trading range of 15,650 and 16,580 for
the Sensex and 4,675 and 5,080 for the Nifty.
If the Budget acts as a `stimulant', expect resistance to the indices on upside
at 16,360 and 16,550 and 4,940 and 5,060, say observers.
In the event of disappointment, markets may slide below recent lows. Brace up
for big roller coaster ride as the Budget season unfolds.
Futures & Options
Robust volumes were seen in the derivatives segment even as the open interest
exceeded Rs 1,20,000 crore. Nifty OI PCR fell to 1.05 level indicating build up
of shorts ahead of the Budget week.
Nifty is likely to face strong resistance in the region of 4,900 and 4,950 and
find a good support in the region of 4,700 and 4,750. With the Economic Survey
and F&O settlement on the same day and the Union Budget lined up for a day after
the settlement, punters would do well to play `safe' by adopting strangle or
straddle strategy on Nifty to take advantage of directional breakout in the
markets. Addition of new stocks to the F&O list was a pleasant surprise.
Announcement of new fertiliser policy failed to enthuse the punters of
fertiliser stocks. However, industry experts advise buying at lower levels. Risk
aversion and fears of rate hike by RBI triggered fresh wave of selling in realty
counters.
Despite negative concerns over Bharti-Zain deal, analysts say that the move will
make Bharti a true global player warranting a better valuation. Contrarians can
buy at current levels for a target price of Rs 400.
Markets expect some indications on fuel price policy in the Budget. Buy oil
marketing majors IOC, BPCL and HPCL. Rebound in cement and sugar stocks likely
in near term. Many side counters like GVK Power, Aban, HCC, Voltas, Chambal,
Lanco Infra and others have witnessed short build-up in anticipation of
`correction' in markets after budget.
Sharp short covering in select counters not ruled out. Gains indicated in
Educomp, Financial Technologies, Ranbaxy and Cairn. There will be corrections
and crashes in the markets, but markets recover and reward investors.
Stock scan
Swiss Glasscoat Equipments is engaged in the manufacture of glass-lined
equipment such as reactors, process tankers that find use in diverse industries
like dyes, pigments, pharmaceuticals, food processing and chemicals. Turnaround
performance and prospects of takeover by a bigger player like GMM Pfaudler from
the industry triggered interest in the counter. Buy for a speculative target of
Rs 65.
Pix Transmissions is a manufacturer of industrial and automotive belts, hoses,
hose assemblies and end fittings used in power and fluid transmission business.
Recent commissioning of a fully-automated mixing plant and rigid mandrel hose
plant has reportedly improved operating margins. Buy on declines for target
price of Rs 100 in the medium term.
Shakti Pumps is a producer of stainless steel submer-sible pumps, energy saving
submersible motors and booster pumps. The company has set up a new plant at a
special economic zone at Pithampur to increase its exports. Accumulate the stock
during the correction for a target price of Rs 250.
Inclusion of Fortis Healthcare stock for the trading in futures and options
clearly indicates the heightened interest in hospital stocks.
With a very few listed counters in this segment, the interest of fund managers
may get limited to stocks like Apollo Hospitals, Indraprastha Medical and
medical equipment stocks like Siemens Health.
Look out for more opportunities in this recession-proof sector for outperforming
gains.
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.
Source : deccan.com
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
Monday, February 8, 2010
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
Sunday, October 25, 2009
Weekly Analysis - Sectoral Review19-23 Oct 09
The run ahead of fundamentals came to a halt with keyindices closing lower this week. Besides the expected profit taking after aseven-month rally, the RIL-RNRL court battle added to the weakness. Quarterlynumbers from India Inc. also failed to cheer sentiment on Dalal Street. Finally, the BSE benchmark Sensex closed the week down by 3% and NSENifty closed lower by 2.8%.
The BSE Sensex hit an intra-weekhigh of 17,457 and low of 16,721 while, the NSE Nifty hit an intra-week high of5,182 and low of 4,968.
The Foreign Institutional Investors (FIIs) purchased Rs51.2bnduring the week. On the other hand, the Domestic Institutions were net sellers tothe tune of Rs15.7bn during the week.
The top gainers: The topgainers in the Sensex were TCS (up 10%), Tata Power (up 6.7%), DLF (up 4.9%),Hindalco (up 4.8%) and Wipro (up 2.4%).
The Top Losers: The toplosers in the Sensex were Grasim (down 10.3%), Tata Steel (down 7.8%), TataMotors (down 7.7%), L&T (down 7.2%) and Reliance Capital (down 6.9%).
The BSE IT Index up 3.6%:
The top gainer in the IT sector was TCS. The stock shot up over 10%during the week. According to report released by IIFL during the week, “TCSbeat our expectation with ~4% QoQ US$ revenue growth in 2QFY10—a number webelieve will be the best in this quarter among the top-3 vendors. Volumes grew~5% QoQ and EBITDA margin expanded by ~150bps, despite a hike in variablesalary payout (payout of 150%). The company’s products business is recoveringstrongly after a bad year—revenues are up 60% since 4QFY09. Stronger signs ofgrowth are also evident in its key vertical, BFSI (45% of revenues), astechnology integration deals ramp up. The appreciating rupee is a risk andpressures in the telecom, manufacturing and high-tech domains make a strongerrecovery unlikely. However, given stronger volume growth and margin expansion,we upgrade our FY10 and FY11 EPS estimates by 8% and reiterate ourrecommendation to switch from Infosys to TCS and Wipro.”
HCL Tech rose over 8% duringthe week. The company tied up with Microsoft to provide retail banking solutionto help banks in the Asia-Pacific.
Wipro was up 2.4% during theweek. The company entered into a 10-year IT outsourcing agreement with DelhiInternational Airport Ltd for providing IT infrastructure and services for IGIAirport here.
Mphasis (up 6%) and PatniComputer (up 4.6%) were among the other notable gainers.
The top losers were FinancialTech (down 5.7%), Mahindra Satyam (down 5.3%), Oracle Financial (down 4.1%) andSasken Communication (down 0.7%)
The BSE ConsumerIndex:
The top losers in the consumer durables space were Blue Star (down7.2%), Titan (down 3.9%), Videocon Industries (down 3.2%) and Su-Raj Diamonds(down 3.1%).
Whirlpool surged by over 10.2%during the week.
The BSE Healthcare Index down 1.4%:
The top losers were Panacea Biotec (down 7.3%),Divis Labs (down 5.4%), Ranbaxy (down 5.2%), Zandu Pharma (down 3.4%) and SuvenLife (down 3.3%).
The top gainers in the Pharma sectorwere Astrazeneca Pharma (up 18.2%), Strides Arcolab (up 9.2%), Dishman Pharma(up 6.3%) and Glaxosmithkline (up 3.7%).
The BSE Banking Index down 3.4%:
Thetop losers in were Bank of India (down 5.7%), Bank of Baroda (down 3.8%), ICICIBank (down 3.4%), Kotak Mahindra Bank (down 3.3%) and HDFC Bank (down 1.8%).
The top gainers in the banking spacewere Karnataka Bank (up 14.6%), Yes Bank (up 8.9%), Federal Bank (up 7.4%),Andhra Bank (up 7.1%) and Allahabad Bank (up 6.2%).
The BSE Auto Index down2.3%:
The top loser in the Auto space was Tata Motors. The stock fell 7.7%during the week. According to reports, the service tax department has issued ashow-cause notice to the company relating to a potential service tax liabilityof Rs3.25bn for five years between 2004-05 and 2008-09.
Despite spectacular quarterlynumbers, Bajaj Auto and Hero Honda were at the receiving end. Bajaj Auto slipped5.4% during the week. The company’s net profit in the second quarter of thisfiscal stood at Rs4.03bn against Rs1.85bn in the July-September 2008 period.Sales revenue for the company grew 15% in the period to Rs27.93bn againstRs24.2bn in the corresponding period.
Hero Honda fell 4.4% during theweek. According to a report released by IIFL during the week, “The company reportedPAT rose 95% YoY to Rs5.97bn—7% higher than our expectation. EBITDA margin expanded130bps QoQ to 18.3% (in 1QFY10, the company had spent Rs360m on advertisingduring Indian Premier League).
• But margin has likelypeaked—going forward, margins would be affected by rising commodity prices andincreasing competitive intensity in the two-wheeler space.
• The company produced 340,000vehicles during 2QFY10 at its Uttaranchal plant (tax incentives) and istargeting a production of 1.3m vehicles for FY10. Given the increasedproduction at Uttaranchal, the company’s tax rate fell 130bps QoQ to 22.3%.
• Management has revised itsguidance on FY10 tax rate from 24% to 22%. We raise our FY10 and FY11 EPSestimates by 8% and 6% as we revise our tax rate assumptions to 22% and 21%respectively. We maintain ADD with a revised target price of Rs1,850 (16xFY11ii).”
Among the other major loserswere M&M (down 3.4%) and Hindustan Motors (down 3.3%).
The top gainers were EicherMotors (up 2.5%), Swaraj Mazda (up 1.5%) and Ashok Leyland (up 0.2%).
Rico Auto Industries, facinglabour unrest since October 18, has reported a daily production loss of about25% at its Gurgaon plant, due to the unrest caused by a group of 16 employees.
The BSE Oil & Gas Index down 6.1%:
The top loser in oil & gas space was ONGC. Thestock was down by over 6.5% during the week. The Petroleum and Natural GasMinistry has suggested that the company explore the possibility of hiving offits Assam assetinto a wholly-owned subsidiary, stated reports.
Reliance Industries fell 5.7% during the week. TheSupreme Court said on the dispute between Reliance Industries and RNRL the twocould work out a “suitable arrangement” for the supply of gas if there is noprovision for arbitration as per the scheme of demerger between the two groups.
Shiv-Vani Oil (down 5.8%), MRPL(down 5.6%) and Jindal Drilling (down 4.7%) were among the other major losers.
The top gainers were GSPL (up5.3%), IOC (up 2.3%), Cairn India (up1.7%) and Gujarat NRE Coke (up 0.4%).
The BSE Capital Goods Index down 6%:
The top gainers in the capital goods sector wereKirloskar Brother (up 15.4%), Elgi Equipments (up 10%), Esab India (up5.7%), SKF India (up 3.7%) and Alfa Laval India (up2.8%).
The top losers were AstraMicrowave (down 8.3%) and Usha Martin (down 7.1%), LMW (down 5.9%).
L&T fell 7% during theweek. The company posted 26% rise in profit at Rs5.8bn in the second quarter,aided by a one-time gain from sale of its ready mix concrete (RMC) business andstake sale in a paper manufacturing joint venture.
BHEL was down 4.3% during the week. BHEL announced its Q2 net profitat Rs8.58bn registering a growth of 39% YoY as against Rs6.16bn in the sameperiod last year. While, net sales stood at Rs66.25bn as against Rs53.4bnposting a growth of 24% YoY.
The Cement Sector:
The toplosers in the cement space were Prism Cement (down 13.3%), Grasim (down 10.3%),JK Cements (down 7.2%) and Gujarat Sidhee (down 6.7%).
Ultratech Cement fell 8.5%during the week. A reports released by IIFL during the week stated that“UltraTech Cement’s (UCL) 2QFY10 result was largely in line with ourestimates—net sales up 10% YoY at Rs15.4bn; (against our expectation ofRs15.9bn); EBIDTA up 58% YoY at Rs4.7bn; and PAT up 53% YoY at Rs2.5bn (both inline with our estimates).
• Sales volume up only 5% YoY,despite sharp increase in capacities, as demand was sluggish in UCL’s keymarkets.
Blended realisation rose 6% YoYand 1% QoQ, but dropped 3% QoQ after factoring in freight expenses. We expectimpact of falling prices in UCL’s markets to reflect from 3QFY10.
• We largely retain ourearnings estimates (pre-merger) for FY10 and FY11. We will review our estimatespost announcement of merger ratio with Samruddhi Cement (SCL). We expect UCL tobenefit from the SCL merger, as it will make UCL the largest cement company in India with abalanced exposure to all regions (it currently has very high exposure to westand south markets). We maintain ADD on the stock.”
The top gainers were KakatiyaCement (up 1%) and Birla Corp (up 0.2%).
The Telecom Sector:
The toplosers in the telecom space were Himachal Futuristic (down 7.7%), Idea Cellular(down 5.6%), WWIL (down 4.1%), Shyam Telecom (down 2.6%) and TTML (down 2.1%).
The top gainers in the Telecom spacewere Gemini Comm (up 31.1%), Bharti Airtel (up 1.8%) and RCom (up 0.3%).
The Realty Sector down3.5%:
The top losers in the real estate sector were Parsvnath (down 8%),Ansal Props (down 4.5%), Unitech (down 3.9%), Sobha Developers (down 3.2%) and Peninsula Land (down2.9%).
The top gainers in Real Estatewere Anant Raj Indus (up 6.7%), DLF (up 4.9%), Mahindra Lifespace (up 4.5%) andAkruti City (up0.5%).
The Metals sector down1.7%:
The top losers in the Metals sector were Tata Steel down 7.8%, JSW Steel down 6.6%, Lloyds Metals down 6.3%, Jindal Stainless down 1.4% and Ispat Industries down 1.3%.
The top gainers were Monnet Ispat (up 6.3%), AdhunikMetaliks (up 5.4%), Sunflag Iron (up 4.6%), Bhuwalka Steel (up 2.2%) and TataSponge (up 1.6%).
Source : Indiainfoline
Monday, August 3, 2009
Closing Bell 21 July 2009
losing Bell 21 July 2009
The Indian indices languished below the dotted line throughout today's trading session on account of sustained selling activity witnessed among the index heavyweights. The BSE-Sensex ended the day lower by around 125 points, while the NSE-Nifty closed lower by 33 points. Stocks from the mid-cap index also ended in the negative territory, down by 0.19%. However, stocks from the small-cap index closed in the positive, up by 0.24%. Stocks from the software and power sectors led the pack of losers on the bourses today. While selling pressure was witnessed across sectors, select stocks from the metals and auto sector garnered investors' interest. The overall market breadth was negative with losers outnumbering gainers by a ratio of 1.3 to 1 on the NSE.
While Asian markets closed mixed, the European indices are currently trading firm. The Rupee was trading at 48.41 against the US dollar at the time of writing.
As per a leading business daily, Suzlon Energy has raised US$ 201.9 m (about Rs 10 bn) by issuing securities in the global markets, of which US$ 804 m has been issued through Global Depository Receipts (GDRs) and the remaining US$ 93.9 m through Foreign Currency Convertible Bonds (FCCBs). The company has issued 14.6 m GDRs at US$ 7.4 per unit. According to the terms of the issue, each GDR would entitle the holder to get it converted into four equity shares. The company's debt to equity ratio at the end of FY09 was as high as 1.7. Prior to this GDR issue, Suzlon was looking at a number of options to raise funds to lower this high debt and selling a part of its stake in its Belgian subsidiary Hansen Transmissions was one such option. Having raised funds through the GDRs and FCCBs issued, the company is likely to use these resources to lower its debt burden going forward. The stock closed in the red.
Yes Bank announced its 1QFY10 results some time back. The bank's interest income recorded a growth of 31% YoY during the quarter, on the back of 25.5% YoY growth in the advances. The higher growth in interest income is led by an increase in income from the treasury and corporate banking segments, which grew by 57% YoY and 21% YoY respectively. The non-fund based income more than doubled during the quarter. The cost of debt declined on account of deposit mobilisation through the SME (Small and Medium Entrepreneurs) and retail clients. Despite the higher provisions, which increased more than five times, the net income recorded a growth of 84% YoY during the quarter. The net non-performing assets increased to 0.24% of total advances from 0.17% in the same quarter last year. The bank's capital adequacy ratio remained strong at 17.63% during the end of 1QFY10. The stock ended the day on a flat note.
As per the ministry, the cement output in the current fiscal is expected to grow by around 13% to 212.4 MT. The production of cement by FY11 and FY12 is expected to rise to 23.16 MT and 262.61 MT respectively. The higher demand for the commodity has prompted cement firms to keep raising their output. In 1QFY10 cement consumption increased by 11% YoY. The same is on account of delayed monsoon and upcoming infrastructure projects coupled with stimulus packages announced by the government which supported rural housing demand. The demand growth is expected to sustain as government spending on infrastructure projects, as outlined in the Budget, gathers further momentum. The sector is expected to witness an addition of 60 to 70 MT of capacity over the next two to three years. While this is a positive from a long term standpoint, in the medium term additional capacities are likely to exert downward pressure on cement prices.
Though still in the red, markets shed some of their early losses during the previous two hours of trade. Currently, stocks from the software, energy and engineering sectors are leading the pack of losers, while select stocks from the metal, auto and telecom sectors are trading firm. The overall decline to advance ratio is poised at 1.2 to 1 on the BSE.
The BSE-Sensex and NSE-Nifty are trading weak, down by approximately 45 points and 15 points respectively. However, the BSE-Midcap and the BSE-Smallcap indices are trading higher, up by approximately 0.2% and 0.3% respectively. The Rupee is trading at 48.27 to the US dollar.
Steel stocks are trading higher currently, led by Tata Steel, JSW Steel and SAIL. As per a leading business daily, Tata Steel plans to raise around US$ 500 m through issue of global depository receipts (GDR) priced at US$ 7.6 each. The company will issue around 65 m GDRs, each GDR representing one share. It may be noted that Tata Steel plans to raise the capacity of its Jamshedpur plant from 6.8 m tonnes currently to 10 m tonnes by FY11 at an estimated investment of Rs 120 bn (approximately US$ 2.5 bn). It is also developing its overseas mining project at Mozambique which is likely to be operational by 2010. As per the management, the company is likely to use these funds in overseas mining projects and long term investment plans. However, any details on the nature of the projects have not been disclosed. Tata Steel's consolidated debt currently stands at around US$ 9.8 bn while the cash and cash equivalents are around US$ 2.1.
Software stocks are trading mixed currently. While TCS and Mindtree are trading lower, Wipro and Tech Mahindra are trading higher. Mindtree announced its 1QFY10 results late last evening. The company's topline has declined by 10% QoQ mainly on account of decrease in volumes due to reduced IT spending from existing clients, particularly in the manufacturing and R&D segments. Sales were also impacted on account of pressure on billing rates, as the same declined by 0.5% QoQ. Operating margins slumped by 9% QoQ to 16.6%, led by lower utilisation and increase in software development costs. Subsequently, the company's net profits declined by 17% QoQ.
The Indian markets remained weak during the previous two hours of trade on the back of sustained selling activity among the index heavyweights. Currently, selling activity is being led by stocks from the IT, power and realty sectors, while select metal and engineering stocks are trading firm. The overall market breadth is flat, with the total number of gainers almost equal to the losers on the BSE.
The BSE-Sensex and NSE-Nifty are trading weak, down by around 150 points and 40 points respectively. However, the BSE-Midcap and the BSE-Smallcap indices are trading higher, up by around 0.2% and 0.3% respectively. The Rupee is trading at 48.26 to the Dollar.
As per a leading business daily, Punj Lloyd plans to raise around US$ 125 to US$ 150 m by issuing fresh shares to the qualified institutional buyers. The company has already confirmed its plans to raise funds but has not yet divulged the amount of funds and instrument to be used. It may be noted that Punj Lloyd is in need of funds to retire its high cost debt and infuse liquidity to fund its projects. In fact, the company's cost of debt stood at around 13.5% during FY09. It also has huge debt with a debt to equity ratio of 1.4:1 at the end of FY09. Further, the company requires funds to service its huge order backlog of around Rs 300 bn (2.5 times its FY09 net sales). At the current market price of Punj Lloyd, the fresh capital is expected to dilute 10% of its existing equity capital. Currently, the stock is trading weak on the bourses.
Software stocks are trading weak led by TCS and Infosys. As per a leading business daily, Infosys has bagged a pilot project to roll out an integrated coach management system (ICMS) for the Indian Railways. The pilot project involves setting up ICMS at three different locations at a cost of Rs 40 m. It is believed that Infosys has emerged as the lowest bidder for this pilot project, which was attended by global companies like Siemens and IFS, besides the Indian majors. Even though the initial project cost is small, the success of this project will decide on the time frame whereby the railway authority will decide to float the final tender for the project, which is estimated at around Rs 2.1 bn. The success of this project would help Infosys oversee final tender projects, which would boost its domestic revenues.
After witnessing a strong rally in the past few days, the Indian bourses have opened the day's trade on a negative note as selling is being witnessed at higher levels. While pharma stocks are trading firm, auto, banking, software and engineering stocks are at the receiving end. The overall decline to advance ratio stood at 1.3: 1 on the NSE. As regards global markets, the US and the European markets ended higher yesterday. The Asian markets are trading mixed currently.
The BSE Sensex is trading lower by around 100 points. The NSE Nifty is down 26 points. The BSE Midcap and the BSE Smallcap indices are trading flat. The rupee is trading at 48.12 to the dollar.
IDFC announced its 1QFY10 results yesterday. The company witnessed a standalone sales growth of 8% YoY, while the consolidated income from operations grew by 14% YoY in 1QFY10. The main reason for the spurt in growth was an increase in revenues from the investment and asset management businesses. The consolidated non-interest income witnessed a 21% YoY growth after lower investment banking and loan related fees in FY09. The cost to income ratio increased from 20% in 1QFY09 to 22% in 1QFY10. Standalone bottomline grew by 19% YoY, while consolidated bottomline grew by 26% YoY in 1QFY10 due to improved other income and lower provisioning. IDFC being a play on the infrastructure story, the management expects the growth to be robust on account of strong government focus. It expects a growth in advances mainly to the road sector during the current year. Finance stocks are trading mixed currently.
Power stocks are trading lower. As per a leading business daily, India will fail to meet its power generation growth goal set for the current year. India is likely to add only 70% of an estimated target of 14.5 GW (1 GW is equal to 1,000 MW) power capacity generation additions during FY10. Even during last year, only 46% of the targeted 7.5 GW was added. Further, the peak power deficit is expected to widen this fiscal to 12.6%. The main reasons cited are slow implementation and coal shortage. While there has been an increase in coal production, it is not to the extent required to meet the demand. Coal fuels at least half of India's installed power generation capacity. Earlier, the ministry had estimated India's coal shortfall to touch 70 MT during FY10. Further, delays from equipment suppliers and other contractors, and delays in acquisition of land and clearance of sites for beginning construction of projects have also played spoilsport. 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. The government has outlined a plan, which envisages an addition of 78,000 MW of generation capacity over the next 5 years. However, with the challenges faced, the target would be difficult to meet.
BSE / NSE Market voices 21 July 2009
Market Voices 21 July 2009
Save for a few minutes at the start, the Sensex was down in the red today as participants chose to book profits after recent gains. There were a few good report cards from India Inc and global cues were reasonably positive, but investors chose a cautious route and refrained from indulging in any big buying today.
The Sensex ended at 15,046.46 (provisional) with a sharp loss of 144.55 points or 0.95%. In intra-day trades, it slipped below the 15k mark to 14,956. The Nifty closed at 4461.80, down 40.45 points or 0.9%.
IT, power, PSU, realty and bank stocks declined sharply. Oil, FMCG and capital goods stocks too exhibited weakness.
Select pharma, metal and auto stocks edged higher. Midcap and smallcap stocks outperformed today.
Tata Steel, Maruti, Sun Pharma, L&T, Grasim and HDFC ended higher. TCS, M&M, ACC, Tata Power, ITC, BHEL, NTPC, ICICI Bank, Bharti Airtel, DLF, Infosys, ONGC and RComm closed on a weak note. RIL, SBI and HDFC Bank also ended weak. Jindal Steel closed sharply higher. Suzlon and GAIL India ended with sharp losses. The market breadth was marginally negative at close.
The market is likely to see a few corrective spells before staging another series of rallies. One with a low appetite for risk would do well to stay extremely stock specific and choose only those with a proven track record.
Investors looking at short to medium term can stay invested in fertilizers stocks Chambal Fertilizers, Nagarjuna Chemicals & Fertilizers and GSFC. RCF, Tata Chemicals and Coromandel Fertilizers can be picked up at sharp declines.
ISMT touched an intraday high of Rs 30.40 and an intraday low of Rs 27.70. At 2:40 pm, the share was quoting at Rs 30, up Rs 1.75, or 6.19%.
Voltas touched an intraday high of Rs 140 and an intraday low of Rs 131. At 2:36 pm, the share was quoting at Rs 139.35, up Rs 7.45, or 5.65%. It was trading with volumes of 1,500,089 shares, compared to its five-day average of 683,245 shares, an increase of 119.55%. Yesterday the share closed up 1.42% or Rs 1.85 at Rs 131.90.
Ultratech Cement (Rs 778) is a good one for medium to long term. Though the stock can give fairly decent returns even over a short run, some weak spells are likely as the demand for cement has not picked up any significantly as yet. Sharp dips can be used to increase exposure to the stock.
Petron Engineering Construction Ltd has received an order from Jaiprakash Associates Ltd for Mechanical Fabrication and Erection for Jaypee Balaji Cement Project, Near Village Budhwada, Dist. Krishna, Andhra Pradesh for a total Contract Value of Rs 48.10 crores. The thinly traded stock is up nearly 8% at Rs 119 now.
Glenmark Pharma touched an intraday high of Rs 263.65 and an intraday low of Rs 241. At 1:36 pm, the share was quoting at Rs 261.75, up Rs 15.30, or 6.21%.
Hold Gujarat NRE Coke, says Hemen Kapadia of Chartpundit on CNBC-TV18
Yes Bank has come out with strong results. The bank has posted a net profit of Rs 1000.70 million for the quarter ended June 30, 2009 as compared to Rs 543.30 million for the quarter ended June 30, 2008. Total income has increased from Rs 4861.90 million for the quarter ended June 30, 2008 to Rs 6878.50 million for the quarter ended June 30, 2009. The stock is up by over 4% at Rs 160. A further sharp upmove looks likely in the short run. One can stay invested in the stock
Hold Reliance Industries (Rs 2027) if you are looking at long term. Over a short run, a few spells are in the offing. However, sharp falls can be used to add small quantities to the portfolio. Intra-day traders with a reasonably good appetite for risk can buy this stock now with a stop loss near Rs 2010. A rise to Rs 2040 - 2050 is possible.
India Infoline touched an intraday high of Rs 135.75 and an intraday low of Rs 126.60. At 1:30 pm, the share was quoting at Rs 128.50, down Rs 6.1, or 4.53%. It was trading with volumes of 728,407 shares. Yesterday the share closed up 1.78% or Rs 2.35 at Rs 134.60.
Glenmark Pharma touched an intraday high of Rs 263.65 and an intraday low of Rs 241. At 1:36 pm, the share was quoting at Rs 261.75, up Rs 15.30, or 6.21%. It was trading with volumes of 1,308,095 shares, compared to its five-day average of 328,342 shares, an increase of 298.39%. Yesterday the share closed up 6.23% or Rs 14.45 at Rs 246.45.
Shree Renuka Sugars Limited has posted a net profit of Rs 611 million for the quarter ended June 30, 2009 as compared to Rs 230 million for the quarter ended June 30, 2008. Despite the sharp jump in net profit, the sugar stock is down in the negative territory at Rs 144, down by over 2%. One holding the stock with a long term plan can stay invested for now.
Oil and gas space will continue to outperform, says Gautam Shah, Technical Analyst at JM Financials on CNBC-TV18
Oriental Bank of Commerce has posted a net profit of Rs 257.41 crore for the quarter ended June 30, 2009 as compared to Rs 220.52 crore for the quarter ended June 30, 2008. Total Income has increased from Rs 2159.21 crore for the quarter ended June 30, 2008 to Rs 2796.10 crore for the quarter ended June 30, 2009.
The stock is up by 1.5% at Rs 191. One holding it can stay invested and buy more of it at dips.
Ranbaxy Laboratories has announced that it has received final approval from Health Canada Therapeutic Products Directorate to manufacture and market RAN-Simvastatin tablets in Canada. The total generia market size of Simvastatin tablets in Canada is about CAD$153 million.
Every dip in Gujarat NRE Coke is a buying opportunity: Sudarshan Sukhani, Technical Analyst, on CNBC-TV18
LIC Housing Finance (down 1.3% at Rs 637) has declined sharply ahead of announcement of results.
The stock had surged to Rs 656 earlier this morning. The stock has a near term resistance at Rs 680 - 685 levels. A strong breakout there could result in a surge to Rs 725 or even higher.
One can consider fresh buying in LIC Housing Finance at sharp declines.
Buy Axis Bank, Bank of Baroda on every dip, says Sudarshan Sukhani, Technical Analyst, on CNBC-TV18
MindTree is down sharply following the company revising its earnings for fiscal 2009-10 revenue downwards.
The stock is down by over 9% at 502 now.
One looking at fresh exposure can wait for now.
ICICI Bank is looking expensive at about 1.7 times price to book, says Sanjeev Prasad, Executive Director & Co Head, Kotak Instl Equities, on CNBC-TV18
State Bank of India (Rs 1702) can be tried for intra-day if the stock rises to Rs 1710 and trades firm for a while. The stock could rise to Rs 1725 -1730 if it makes a strong breakout at Rs 1710. A stop loss can be placed at Rs 1690 levels.
Buy IndusInd Bank on dips, says Sudarshan Sukhani, Technical Analyst, on CNBC-TV18
Don't buy IT stocks for trading currently at current levels, says Sudarshan Sukhani, Technical Analyst, on CNBC-TV18
Thermax Limited has posted a net profit of Rs 464.901 million for the quarter ended June 30, 2009 as compared to Rs 637.091 million for the quarter ended June 30, 2008. The company's total income has decreased from Rs 7271.543 million for the quarter ended June 30, 2008 to Rs 5478.852 million for the quarter ended June 30, 2009. The stock is up with a modest gain at Rs 458 now. Since a fall from current levels is likely in the near run, fresh buying can be avoided for now.
Invest in Tata Steel, says Sanjeev Prasad, Executive Director & Co Head, Kotak Instl Equities on CNBC-TV18. "If I look at it on 2011 basis the stock looks okay, not too expensive," he added.
The Nifty (4496) has recovered well after a sharp setback.
The index will now take some good support at 4470 levels. A breach could result in a fall to 4450.
On the positive side, a rise past 4615 is likely to result in a surge to 4635 - 4645.
Gujarat NRE Coke (down 2.9% at Rs 51.80) has declined on profit taking after recent sharp upmove. the company has posted pretty strong numbers for the April - June 2009 quarter. One holding the stock with a long term plan can stay invested and look at buying more at sharp falls. gujarat NRE Coke touched an intraday high of Rs 53.15 and an intraday low of Rs 50. At 10:28 am, the share was quoting at Rs 50.90, down Rs 2.45, or 4.59%
It was trading with volumes of 1,210,415 shares. Yesterday the share closed up 17% or Rs 7.75 at Rs 53.35.
MindTree touched an intraday high of Rs 622 and an intraday low of Rs 520. At 10:26 am, the share was quoting at Rs 520.10, down Rs 33.55, or 6.06%. It was trading with volumes of 264,001 shares. Yesterday the share closed up 13.53% or Rs 66 at Rs 553.65.
Punj Lloyd is reportedly planning to raise US$125-150 million by placing fresh equity with institutional buyers to retire part of its high-cost debt and infuse liquidity. The stock is currently down by 1.5% at Rs 219. One looking at long term can go in for the stock at sharp declines. The stock is a very good buy at Rs 160 - 175 levels.
TCS may move 5% higher, says Sanjeev Prasad, Executive Director & Co Head, Kotak Instl Equities, on CNBC-TV18
Essar Oil has posted a net profit of Rs 1690 million for the quarter ended June 30, 2009 where as the same was at Rs 300 million for the quarter ended June 30, 2008. Total Income is Rs 66060 million for the quarter ended June 30, 2009 where as the same was at Rs 87640 million for the quarter ended June 30, 2008. However, the figures are not strictly comparable as commercial production of the refinery started with effect from May 01, 2008. The stock is up by around 2.75% at Rs 144 at present.
Amtek Auto touched an intraday high of Rs 111 and an intraday low of Rs 100. At 10:15 am, the share was quoting at Rs 105, down Rs 3.35, or 3.09%. There was a block deal of 50 lakh Amtek Auto shares at Rs 100 per share, reports CNBC-TV18. It was trading with volumes of 5,034,357 shares. Yesterday the share closed up 9.78% or Rs 9.65 at Rs 108.35.
Sterlite Technologies touched a 52-week high of Rs 214.05. At 09:58 am, the share was quoting at Rs 214.05, up Rs 10.20, or 5% on the NSE. There were pending buy orders of 78,737 shares, with no sellers available. It was trading with volumes of 8,711 shares. Yesterday the share closed up 5.02% or Rs 9.75 at Rs 203.85.
Stocks to watch
MindTree Ltd, after the IT firm's quarterly profit rose 466 percent helped by mark to market gains, but cut its FY10 outlook on an uncertain market environment.
Era Infra Engineering, after the construction firm's quarterly net profit surged to 964.08 million rupees.
Oriental Bank of Commerce, Yes Bank Ltd, Chambal Fertilisers and Chemicals Ltd, ING Vysya Bank Ltd, LIC Housing Finance Ltd, Shree Renuka Sugars Ltd, Tamil Nadu Newsprint and Papers Ltd and Thermax Ltd are among firms reporting quarterly results on Tuesday.
Brokerage Recommendations 21 July 2009
Brokerage Recommendations 21 July 2009
Buy Sesa Goa around Rs 210 with a short-term target of Rs 235, medium-term target of Rs 250 and stop loss of Rs 200, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 232, down 1.65% on the BSE.
Buy Tata Steel with a target of Rs 420 and stop loss of Rs 393, says Amarjeet Singh, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 411, up 5.28% on the BSE. The company successfully closed a GDR issue of $500 million today, reports CNBC Tv18.
Hold Gujarat NRE Coke with short-term target of Rs 61, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 46, he adds. The stock is currently trading at Rs 50, down 5.06% on the BSE.
Buy Tech Mahindra around Rs 770 with a short-term target of Rs 850, medium-term target of Rs 950 and stop loss of Rs 710, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 811, up 1.07% on the BSE.
Buy Voltas with a target of 150 and stop loss of 138, says Nitin Murarka of SMC Global on Zee Business, as closing market strategy.
Buy Tata Steel with a target of 425 and stop loss of 400, says an expert from Trade Swift Broking, on CNBC Awaaz, as closing market strategy.
Buy PFC around Rs 210 with a short-term target of Rs 230, medium-term target of Rs 240 and stop loss of Rs 200, says Rajesh Jain of SMC Global Securities on Zee Business. The stock is currently trading at Rs 224, up 1.7% on the BSE.
In an F&O call, sell Nifty July futures with a target of 4360 and stop loss of 4530, says Manoj Sachdeva, technical analyst, on CNBC Awaaz.
In an F&O call, buy Nifty July futures with a target of 4550 and stop loss of 4430, says Nishant Jain, technical analyst, on CNBC Awaaz.
In an F&O call, sell Nifty July futures with a target of 4400 and stop loss of 4550, says Ashwani Gujral, technical analyst, on CNBC Awaaz.
In an F&O call, sell Nifty July futures with a target of 4400 and stop loss of 4520, says Neera Jain of crnindian.com, on CNBC Awaaz. The market is likely to cool off and correct in the short term, she says.
Hold Sterlite Industries with target of Rs 720-730, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 570, he adds. It has resistance at Rs 635, he says. The stock is currently trading at Rs 594, down 2.61% on the BSE.
Buy BEL with a target of Rs 1600 and stop loss of Rs 1400, says Neera Jain of crnindian.com, on CNBC Awaaz. The stock is currently trading at Rs 1526, up 0.61% on the BSE.
Hold RIL with a target of Rs 2130 and stop loss of Rs 1950, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. The stock is currently trading at Rs 2032, up 0.08% on the BSE. » Send to friends
buy Rolta with a target of Rs 165-160, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 138, up 0.77% on the BSE.
Buy Indiabulls Real Estate with a target of Rs 250-280, says Mitesh Thakkar, technical analyst, on NDTV Profit. The stock is currently trading at Rs 224, down 1.95% on the BSE.
Buy Patni Computers with a target of Rs 335-340, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 284, down 2.8% on the BSE.
Sell DLF with a target of Rs 345 and stop loss of Rs 355, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 343, down 2.04% on the BSE.
Buy Unitech with a target of Rs 92 and stop loss of Rs 74, says Salil Sharma of Kapoor & Sharma Company on CNBC Awaaz. The stock is currently trading at Rs 82, up 0.12% on the BSE.
Buy Wipro with a target of Rs 540, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 463, up 0.82% on the BSE.
Hold Core Projects with a stop loss of Rs 96, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 110, down 5.8% on the BSE.
Hold Micro Tech with stop loss of Rs 107, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has resistance at Rs 135, he adds. The stock is currently trading at Rs 119, down 0.50% on the BSE.
Hold IFCI with a target of Rs 53-58 where one can exit, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 50, up 0.9% on the BSE.
Buy Mphasis with a target of Rs 460, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 416, up 0.71% on the BSE.
Hold GVK Power with target of Rs 50, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It has support at Rs 36, he adds. The stock is currently trading at Rs 43.25, down 0.9% on the BSE.
Hold Financial Technologies with short-term target of Rs 1640 and long-term target of Rs 2000-2200, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 1370, he adds. It has resistance at Rs 1520, he says. The stock is currently trading at Rs 1420.05, up 2.3% on the BSE.
Buy YES Bank for short-to-medium target of Rs 180-185, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 120, he adds. The stock is currently trading at Rs 158.75, up 3.4% on the BSE.
Hold Dr Reddy's with target of Rs 850-875, says Prasad Kushe, technical analyst, on NDTV Profit. Keep trailing stop loss of Rs 690, he adds. Buy again on dips at Rs 650-700 a month later, he says. The stock is currently trading at Rs 791.75, up 0.1% on the BSE.
Hold Satyam with target of Rs 150, says MB Singh, technical analyst, on Zee Business. It is in a positive uptrend now and has resistance at Rs 114, he adds. The stock is currently trading at Rs 94.30, down 2.9% on the BSE.
Hold Kingfisher Airlines with target of Rs 89, says Prasad Kushe, technical analyst, on NDTV Profit. Keep stop loss of Rs 34, he adds. The stock is currently trading at Rs 48.90, down 4% on the BSE. » Send to friends
Buy Wipro on dips with target of Rs 525-550 in six months, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 440, he adds. The stock is currently trading at Rs 463.25, up 0.5% on the BSE.
At noon the market is trading near the day's low. Sensex is trading at 15035, down 156 points from its previous close, and Nifty is at 4462, down 39 points. CNX Midcap index is down 0.1% and BSE Smallcap index is up 0.2%. The market breadth is negative with advances at 565 against declines of 622 on the NSE.
Buy IndusInd Bank on dips with target of Rs 115, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 92.80, down 2.1% on the BSE.
Buy IndusInd Bank at current levels with target of Rs 120-130, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 89, he adds. The stock is currently trading at Rs 92.60, down 2.3% on the BSE.
Buy Axis Bank at around Rs 780-810 with target of Rs 1100-1150, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 890.40, up 0.5% on the BSE.
Buy ICICI Bank at Rs 700 with long-term targets of Rs 810 and then 950, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 670, he adds. The stock is currently trading at Rs 776.50, down 1.4% on the BSE.
Hold GMR Infra with target of Rs 163, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 117, he adds. It has resistance at Rs 148, he says. The stock is currently trading at Rs 138.50, down 1.6% on the BSE.
Buy Unitech at Rs 85 with target of Rs 120, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 81.20, down 1.3% on the BSE.
Hold Gujarat NRE Coke and exit at Rs 62, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It is looking weak on the charts, he adds. The stock is currently trading at Rs 51.75, down 3% on the BSE.
Hold Welspun Gujarat with target of Rs 350 in one year, says MB Singh, technical analyst, on Zee Business. Keep stop loss below Rs 170 in the short term, he adds. It has resistance at Rs 217, he says. The stock is currently trading at Rs 195, down 1.1% on the BSE.
Buy Sesa Goa with target of Rs 275-280, says Ashwani Gujral, technical analyst, on CNBC Awaaz. It is looking good on the charts, he adds. The stock is currently trading at Rs 234.50, down 0.9% on the BSE.
Buy Pantaloon Retail with intra-day target of Rs 288, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 276, he adds. The stock is currently trading at Rs 278, down 0.2% on the BSE.
Buy BEL July Futures with target of Rs 1600, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 1390, he adds. The stock is currently trading at Rs 1520, up 0.2% on the BSE. » Send to friends
Buy Jindal Steel and Power July Futures with target of Rs 3100, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 2600, he adds. The stock is currently trading at Rs 2746, up 3% on the BSE.
Buy Alstom Projects with target of Rs 530, says Hemen Kapadia, technical analyst, on CNBC TV18. Keep stop loss of Rs 512, he adds. The stock is currently trading at Rs 524, up 1.6% on the BSE. » Send to friends
Buy Voltas July Futures with target of Rs 155, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 125, he adds. The stock is currently trading at Rs 134, up 1.6% on the BSE.
Sell Tata Steel with intra-day target of Rs 375, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 396, he adds. The stock is currently trading at Rs 381.40, down 2.5% on the BSE.
Sell Suzlon Energy with intra-day target of Rs 89, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 96, he adds. The stock is currently trading at Rs 92.05, down 2.3% on the BSE.
Buy Aban Offshore at Rs 927 with intra-day target of Rs 975, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 900, she adds. The stock is at Rs 928.50, up 8.4% on the BSE.
Sell REI Agro with intra-day target of Rs 62, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 68.50, he adds. The stock is at Rs 67.25, up 4.9% on the BSE.
Buy Satyam at Rs 97 with intra-day target of Rs 101, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 95.50, she adds. The stock is at Rs 97.15, up 9% on the BSE.
Buy Cairn India at Rs 246 with intra-day target of Rs 252, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 242, she adds. The stock is at Rs 246.30, up 6.1% on the BSE.
Indian Share / Stock Markets BSE NSE Report 20 July 2009
Market Report 20 July 2009
The key benchmark indices clocked strong gains, extending last week's sharp climb, as encouraging Q1 June 2009 results from India Inc and firm global stocks boosted sentiment. The BSE 30-share Sensex rose 446.09 points or 3.03%. The barometer indices struck its highest closing in more than a month. The Sensex crossed the psychological 15,000 mark for the first time in two weeks. World stocks rose on news CIT Group Inc had clinched a last-minute $3 billion rescue by a group of bondholders and probably escaped bankruptcy. CIT lends to nearly one million small and mid-sized US businesses.
Index heavyweight Reliance Industries rallied after the Supreme Court asked the energy giant and former group firm Reliance Natural Resources (RNRL) why a gas pact between the two should not be cancelled.
Banking, realty, and capital goods stocks jumped. TCS vaulted more than 15% and was the major gainer from the Sensex pack on stronger-than-expected Q1 June 2009 results. Other IT majors surged. The market breadth, indicating the overall health of the market, was strong. Except, BSE FMCG index, all the other sectoral indices on BSE, rose.
A bout of intraday volatility was witnessed. The market pared gains after an early surge triggered by firm global stocks. The Sensex hit the psychological 15,000 mark in early trade but fell below the mark shortly. The last time the Sensex had hit 15,000 was on the day of announcement of the Union Budget 2009-2010 on 6 July 2009. The market surged in early afternoon trade with the Sensex regaining the 15,000 mark. The market extended gains in afternoon trade. After hitting a fresh intraday high, the market pared gains in mid-afternoon trade. It spurted in late trade.
Lower costs have helped India Inc report Q1 June 2009 results. The combined net profit of 191 companies rose 41.6% Rs 10,730 crore on 14.9% growth in sales to Rs 72,710 crore in Q1 June 2009 over Q1 June 2008.
But possibility of deficient rains this year raises a risk of low agricultural output and hence high food inflation. The cumulative seasonal rainfall from 1 June 2009 to 15 July was 27% below normal levels. It has adversely affected the kharif sowing. The worst hit crops are rice, oilseeds especially groundnut and soyabean and sugarcane. Spatial distribution and actual rain during July and August are vital to determine its consequences on overall economy.
European shares were higher on Monday, rising for the sixth straight day, with banks the major gainers. The key benchmark indices in France, Germany and UK were up by between 1.3% to 1.53%.
Asian stocks advanced, led by commodity and technology shares, after oil and metal prices gained and US housing starts unexpectedly rose. Key benchmark indices in China, Hong Kong, South Korea, Singapore and Taiwan were up by between 1.02% to 3.7%.
Trading in the US index futures indicated Dow could rise 66 points at the opening bell today, 20 July 2009.
After a strong week, US markets ended Friday's (17 July 2009) trade flat. The Dow added 32.12 points, or 0.4%, to 8,743.94. The S&P 500 index slipped 0.36 points, or less than 0.1%, to 940.38, while the Nasdaq composite index rose 1.58 points, or 0.1%, to 1,886.61. For the week the Dow and S&P were up over 7%. Nasdaq gained almost 8%.
On the earnings front, Bank of America, the largest US bank, said second-quarter net income fell 25% to $2.42 billion and warned results would continue to be hurt by troubled loans from credit card, mortgage and business customers due to the weak economy. Citigroup reported a $4.3 billion quarterly profit, thanks to the merger of its brokerage arm into a new venture after struggling to survive the financial crisis.
General Electric reported a second-quarter profit of 26 cents a share, topping consensus estimates of 23 cents a share. Revenues came in lower by 17%, at 39 billion dollars was slightly below the 42 billion dollars that analysts had predicted.
The BSE 30-share Sensex rose 446.09 points or 3.03% at 15,191.01, its highest closing since 12 June 2009. At the day's high of 15,209.36, the Sensex rose 464.44 points in late trade. At the day's low of 14,854.17, the Sensex rose 109.25 points in early trade.
The S&P CNX Nifty was up 127.30 points or 2.91% to 4,502.25, its highest closing since 16 June 2009. Nifty July 2009 futures were at 4505.60, at a premium of 3.35 points as compared to the spot closing of 4502.25. Turnover in NSE's futures & options (F&O) segment was Rs 70,008.60 crore, much lower than Rs 74,254.90 crore on Friday, 17 July 2009.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,832 shares rose as compared with 829 that fell. A total of 72 shares remained unchanged. From the 30 shares Sensex pack, 23 rose and rest fell.
From a recent low of 13,400.32 on 13 July 2009, the Sensex has risen 1,790.69 points or 13.36% in five trading sessions. The Sensex is up 6,253.70 points or 64.82% in calendar year 2009, as on 20 July 2009. From a 3-year closing low of 8,160.40 on 9 March 2009, the Sensex has risen 7,030.61 points or 86.15% as on 20 July 2009.
Coming back to today's trade, the BSE Mid-Cap index was up 2.54% and the BSE Small-Cap index was up 2.52%. But both these indices underperformed the Sensex.
The BSE IT index (up 7.26%), the BSE Realty index (up 4.91%), the BSE TECk index (up 4.78%), the BSE Bankex (up 4.37%), the BSE Oil & Gas index (up 3.66%), outperformed the Sensex.
The BSE FMCG index (down 0.49%), the BSE Power index (up 0.89%), the BSE PSU index (up 0.95%), the BSE Consumer Durables index (up 1.64%), the BSE Auto index (up 1.68%), the BSE Healthcare index (up 1.82%), the BSE Capital Goods index (up 2.11%), the BSE Metal index (up 2.12%), underperformed the Sensex.
India's largest private sector firm by market capitalisation Reliance Industries (RIL) rose 5.03% to Rs 2,030.65 after Supreme Court (SC) scheduled next hearing on the dispute over the gas supply to Reliance Natural Resources (RNRL) to 1 September 2009. Media reports quoted Reliance Industries (RIL) lawyer as saying that the Supreme Court has asked parties to explain why gas pact should not be cancelled. The SC has cleared the way for the government to be a party in the court battle, the RIL lawyer was quoted as saying .
Reports also quoted RNRL lawyer as saying that the Supreme court will club all petitions and applications in gas case together. RNRL has asked the Supreme Court to dismiss the government's affidavit on the dispute, even as the petroleum ministry has suggested that the court treats the pact between the two brothers null and void. The dispute concerns supply of natural gas from RIL's field, off the Andhra Pradesh coast, as also the price at which Reliance Natural Gas will get the fuel for power projects within the group.
In reply to the lawsuit filed by Reliance Industries challenging the Bombay High Court order, RNRL has said the government has no role to play in the private gas sharing dispute, and certainly not as a party to the row. The government, however, has said that the country's interest must be taken into consideration first and that cannot be held to ransom by a dispute between two industrialists or a previous, private pact between them.
Shares of oil exploration firms rose as oil rose surged past $64 a barrel mark on Monday, extending last session's 2.5% gains, bolstered by a rally in Asian stocks and fall in the dollar on hopes of a global economic recovery. India's largest state-run oil exploration firm by revenue ONGC rose 1.83%. Cairn India rose 6.05%. US crude oil for August delivery rose 1.59% to $64.57 a barrel after settling up $1.54 at $63.56 on Friday. The rise in crude oil prices would result in higher realizations from crude sales for oil exploration firms.
But PSU OMCs fell on rise in crude oil prices. BPCL and Indian Oil Corporation, fell by between 0.08% to 1.51%. HPCL was flat. 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.
Realty stocks rose on the government's thrust on the housing sector in the Budget. Unitech, Housing Development & Infrastructure, Indiabulls Real Estate, DLF, Omaxe, Ackruti City rose by between 1.06% to 7.8%.
IT stocks jumped on better-than-expected Q1 June 2009 result by India's largest IT exporter by sales TCS after trading hours on Friday. TCS jumped 15.34%. The company's net profit rose 15.27% to Rs 1276.44 crore on 0.12% fall in sales to Rs 5609.60 crore in Q1 June 2009 over Q4 March 2009.
India's third largest IT exporter by sales Wipro rose 7.14%. Its American depository receipt (ADR) rose 3.08% on Friday, 17 July 2009.
India's largest IT firm by sales Infosys rose 5.66%. The company had raised the lower end of its annual forecast in dollar terms at the time of announcing Q1 June 2009 results on 10 July 2009. Its ADR rose 2.95% on Friday, 17 July 2009.
Bank stocks rose after the Finance Minster said last week that the government is committed to financial sector reforms. The minister's articulation of commitment to financial sector reforms suggests that greater foreign direct investment in insurance and pension reforms, issue that had been put in cold storage because of Left opposition during the UPA's last term, would now be expedited.
India's largest private sector bank by net profit ICICI Bank rose 6.01% after its American depository receipt (ADR) rose 3.78% on Friday, 17 July 2009.
India's biggest bank in terms of branch network State Bank of India (SBI) rose 2.78% despite reports the Reserve Bank of India has asked it to set aside more money for bad loans, noting that provisions made by the bank are far short of the industry average.
India's second largest private sector bank in terms of operating income HDFC Bank rose 2.44%. HDFC Bank's net profit rose 30.52% to Rs 606.11 crore on 21.86% rise in total income to Rs 5136.75 crore in Q1 June 2009 over Q1 June 2008. Other income jumped 75.9% to Rs 1043.70 crore in Q1 June 2009 over Q1 June 2008, due to spurt in fees and commissions. The bank announced the result on Tuesday, 14 July 2009. Its ADR rose 1.12% on Friday.
PSU banks, Union Bank of India, Bank of Baroda, Indian Overseas Bank, Bank of India, Punjab National Bank, rose by between 4.64% to 6.48%.
Axis Bank rose 4.06% extending recent sharp gains after net profit rose 70.24% to Rs 562.04 crore on 33.64% rise in total income to Rs 3864.13 crore in Q1 June 2009 over Q1 June 2008. The bank announced the result during market hours on Monday 13 July 2009.
India's largest engineering and construction firm by sales Larsen & Toubro (L&T) rose 2.69% extending Friday's (17 July 2009) 3.03% jump after the company stood by its stated outlook of 25% growth in order inflows for the current year even as the first quarter ended with a negative note. At the time of announcing Q1 June 2009 results, L&T had during trading hours on Thursday, 16 July 2009 said its order inflow was down 22 % in Q1 June 2009 over Q1 June 2008. The company's order backlog at the end of the June quarter was Rs 71, 650 crore ($14.7 billion). The stock fell 3.65% on Thursday after result.
Other capital goods stocks, Punj Lloyd, Praj Industries, BEML, ABB, Siemens, Bharat Heavy Electricals, Thermax, rose by between 0.13% to 4.53%.
FMCG majors fell on slow progress of India's annual monsoon. FMCG firms derive substantial revenue from the rural sector. ITC and Hindustan Unilever fell by between 0.19% to 1.98%.
Some drug makers rose after the Finance Minister Pranab Mukherjee reduced customs duty on life saving drugs in the Budget. Ranbaxy Laboratories, Pfizer, Cipla, Dr Reddy's Laboratories, Wockhardt Lupin, rose by between 0.84% to 2.76%.
Finance minister on 6 July 2009, reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc. The government has also reduced basic customs duty for two bulk drugs used in manufacturing these medicines from 10% to 5%. Bulk drugs are processed raw materials used in manufacturing the final doses of medicines.
Some power stocks rose on bargain hunting after a recent fall triggered by disappointment from the Budget. There was lack of any major sops in the Budget for the power sector. Tata Power Company, NTPC, Power Grid Corporation of India, fell by between 0.22% to 1.29%.
Some cement stocks rose after a thrust on infrastructure development in the Union Budget 2009-2010. Grasim Industries, ACC, Ultratech Cements, rose by between 1.01% to 3.41%.
Construction stocks, too, were in demand. Era Infra Engineering, Hindustan Construction Company, IVRCL Infrstructure &Projects and Nagarjuna Construction Company rose by between 3.03% to 4.65%.
Finance Minister Pranab Mukherjee on 6 July 2009, provided a thrust on various infrastructure projects in the Budget which may result in increase in orders for construction firms and help boost cement demand. The government announced more spending for urban, water and road projects. The allocation to National Highway development program allocation was increased 23% to Rs 15948 crore.
Two-wheeler makers rose, extending last week's gains, boosted by good Q1 June 2009 results from Bajaj Auto during market hours on Thursday, 16 July 2009. Bajaj Auto gained 2.42% extending a recent sharp surge. Bajaj Auto's net profit jumped 67.60% to Rs 293.49 crore in Q1 June 2009 over Q1 June 2008.
India's largest motor bike maker by sales Hero Honda Motors rose 0.85%.
India's largest small car maker by sales Maruti Suzuki India rose 1.97% and India's largest tractor maker by sales Mahindra & Mahindra rose 2.34%. India's largest commercial vehicle maker by sales Tata Motor rose 3.78%.
Metal stocks rose as LMEX, a gauge of six metals traded on the London Metal Exchange rose 1.22% on Friday, 17 July 2009. JSW Steel, Jindal Steel, Hindalco Industries, Steel Authority of India, National Aluminum Company, Hindustan Zinc rose by between 0.45% to 8.13%.
India's largest copper maker by sales Sterlite Industries rose 3.8% on bargain hunting after a recent sharp fall triggered by equity dilution concerns after the company raised $1.5 billion from an issue of American Depositary Receipts in which parent Vedanta has subscribed $500 million.
Some shipping firms rose as Baltic Dry Index, which measures the cost of shipping commodities, rose 1.2% in London on Friday, 17 July 2009. Shipping Corporation of India, Mercator Lines and Essar Shipping rose by between 0.75% to 2.64%.
Sugar stocks rose on firm global sugar prices. Dhampur Sugar, Bajaj Hindustan, Balrampur Chini and Shree Renuka Sugars rose by between 0.51% to 3.35%.
Mahindra Satyam clocked the highest volume of 3.39 crore shares on BSE. Reliance Natural Resources (2.39 crore shares), Cals Refineries (2.23 crore shares), IFCI (1.84 crore shares) and Unitech (1.77 crore shares) were the other volume toppers in that order.
Mahindra Satyam clocked the highest turnover of Rs 329.97 crore on BSE. Reliance Industries (Rs 270.03 crore), Tata Consultancy Services (Rs 196.78 crore), ICICI Bank (Rs 196.33 crore) and Reliance Natural Resources (Rs 193.27 crore) were the other turnover toppers in that order.
BSE / NSE Market voices 20 July 2009
Market Voices 20 July 2009
Aided by strong global markets and some splendid results from India Inc, equities closed on a buoyant note on the major Indian bourses today. Calling the shots right from the stroke of the opening bell this morning, the bulls guided the Sensex to its best close since 12 June 2009.
The Sensex ended the day at 15,166.91 (provisional) with a massive gain of 421.99 points or 2.86%. The Nifty closed at 4496.45, up 121.50 points or 2.78%. While the Sensex hit a high of 15,209.36, the Nifty moved on to 4510.30 today.
IT stocks, led by heavyweights TCS (15%), Wipro (7%) and Infosys (5.6%) had a bright session today. ICICI Bank, DLF, RIL, Hindalco, JP Associates, ACC, Tata Motors, Sterilte, SBI, L&T, Bharti Airtel, Grasim, HDFC Bank, Maruti and M&M also ended on a high note. Unitech, HCL Tech, Cairn India, PNB, Axis Bank, ABB, Siemens, Cipla and Ranbaxy finished with sharp gains.
ITC, RComm, HDFC and Reliance Infra closed weak today. BPCL, Ambuja Cements, Suzlon and RPower also ended weak.
Several midcap and smallcap stocks rallied higher. The market breadth was strong today.
Keep stop loss in IndusInd Bank at Rs 75, says Deepak Mohoni, Technical Analyst, on CNBC-TV18
TCS has target of Rs 525-540, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18
GTL Infrastructure has posted strong results for the quarter ended 30 June 2009. The company has posted a net profit of Rs 186.955 million for the quarter ended June 30, 2009 as compared to net loss of Rs 31.929 million it had recorded for the quarter ended June 30, 2008. Total income has increased from Rs 558.331 million for the quarter ended June 30, 2008 to Rs 855.039 million for the quarter ended June 30, 2009. The stock is up by over 4% at Rs 35.40. One can hold the stock with a stop loss near Rs 25.
Cairn India was among the major gainers on the Nifty. It touched an intraday high of Rs 244.90 and an intraday low of Rs 235. The share was quoting at Rs 244.30, up Rs 12.20, or 5.26%. it was trading with volumes of 2,282,356 shares. On Friday the share closed up 1.84% or Rs 4.20 at Rs 232.10.
Voltas, currently traded at Rs 130, can be picked up for short term. The stock can move on to Rs 145 -150 where one can book profits and exit the counter. The stock has an immediate support at Rs 120 levels. A strong breach could result in a fall to Rs 105 or to even lower levels.
DLF touched an intraday high of Rs 347.80 and an intraday low of Rs 333.10. At 1:56 pm, the share was quoting at Rs 343.80, up Rs 10.95, or 3.29%. it was trading with volumes of 2,754,059 shares. Yesterday the share closed up 5.02% or Rs 15.90 at Rs 332.85.
Indiabulls Financial Services touched an intraday high of Rs 187.25 and an intraday low of Rs 181. At 2:09 pm, the share was quoting at Rs 183, up Rs 2.10, or 1.16%. The company has launched upto $200 million QIP issue, quoting NewsWire18, reports CNBC-TV18. It was trading with volumes of 308,775 shares. On Friday the share closed up 0.47% or Rs 0.85 at Rs 180.90.
The mood on the European bourses is bullish as well. US index futures have surged higher, pointo to a positive start on Wall Street.
Strong results from top notch firms including TCS and expectations that government will push forward reforms keep the Indian markets high up in the bull orbit today.
There will be some more rallies in the very short run. However, it is advisable to stay stock specific for now.
Reliance Petroleum touched an intraday high of Rs 126.25 and an intraday low of Rs 122. At 1:41 pm, the share was quoting at Rs 125.80, up Rs 5.05, or 4.18%. it was trading with volumes of 975,152 shares. Yesterday the share closed up 0.29% or Rs 0.35 at Rs 120.75.
RComm (Rs 271) can rise to Rs 278 -280 this afternoon. Day traders with a reasonably good appetite for risk can try this stock now with a stop loss near Rs 265.
IDFC has posted a net profit of Rs 243.49 crore for the quarter ended June 30, 2009 as compared to Rs 204.73 crore for the quarter ended June 30, 2008. The stock is up with a modest gain at Rs 141 now. One holding the stock with a long term view can stay invested.
Consider buying cement stocks Ambuja Cements, India Cements and Ultratech Cement at sharp declines. Though stocks are likely to remain a bit sluggish for about a couple of weeks, a modest to sharp rise looks likely over the next 3 - 6 months.
Suzlon Energy (Rs 95) can give fairly good returns over a short run. One can exit the counter at Rs 120 -125 and take a call on buying the stock again at declines. On the downside, the stock has support near Rs 80 and a stop loss can be placed there.
JSW Steel has posted a net profit after tax of Rs 3400.20 million for the quarter ended June 30, 2009 as compared to Rs 2193.50 million for the quarter ended June 30, 2008. The stock is up 1.2% at Rs 607.50. Day traders with a good appetite for risk can buy the stock. It could rise to Rs 620 - 625. A stop loss can be placed near Rs 595.
Nagarjuna Construction Co. touched an intraday high of Rs 139.95 and an intraday low of Rs 133. At 12:10 pm, the share was quoting at Rs 138.20, up Rs 4.05, or 3.02%. The company has bagged orders worth Rs 776 crore, reports CNBC-TV18. It was trading with volumes of 257,547 shares. On Friday the share closed up 7.15% or Rs 8.95 at Rs 134.15.
Satyam Computer Services above Rs 90-92, says Mitesh Thacker of miteshthacker.com on CNBC-TV18
LIC Housing Finance (Rs 639) can move up further in the near term. The stock could face some resistance near Rs 685 but a strong breach there is likely to lift the stock up by another Rs 20 - 30. Those looking at long term can consider buying the stock at declines.
Indiabulls Real Estate can test Rs 280, says Mitesh Thacker of miteshthacker.com on CNBC-TV18
Zee Entertainment Enterprises touched an intraday high of Rs 199.70 and an intraday low of Rs 186.85. At 11:33 am, the share was quoting at Rs 187, down Rs 7.25, or 3.73%. It was trading with volumes of 263,879 shares. On Friday the share closed up 7.44% or Rs 13.45 at Rs 194.25.
IT majors TCS, Wipro and Infosys can move up further in the near to medium term. However, a few corrective spells are not ruled out. Short term traders can book some profits at rallies and get back into the counter at declines.
Technology stocks could move up, says Vibhav Kapoor of IL&FS Investmart, on CNBC-TV18
Aban Offshore can touch Rs 950, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18
Sell Pantaloon Retail below Rs 285: ICICIdirect.com
The Nifty (4441) will take some support around 4410 today. A breach of that level could result in a fall to 4375 or even lower. On the upmoe, a rise to 4475 - 4485 is possible if it makes a decisive breakout at 4450.
Coromandel Fertilisers touched an intraday high of Rs 191.50 and an intraday low of Rs 181.50. At 10:54 am, the share was quoting at Rs 191, up Rs 8, or 4.37%. It was trading with volumes of 11,616 shares. On Friday the share closed up 2.49% or Rs 4.45 at Rs 183.
Sell Divi's Laboratories below Rs 1065: ICICIdirect.com
Buy Hindalco above 81.70 for the targets of 84 / 86 / higher/ with a stop-loss of Rs 81
Nagarjuna Construction Company's order book has grown fatter with the company bagging three new orders aggregating Rs 776 crores. The orders are from the Employess State Insurance Coporation, New Delhi (Rs 600 crores), Mezgon Dock Limited (Rs 136 crores) and National Institute of Technology, Assam (Rs 40 crores). At Rs 136.50, the stock is up by around 1.75% over its previous closing price. One looking for fresh exposure to the stock can try the stock at Rs 115 -120 levels.
Bank of India: Buy above Rs 341 for the target of 346 / 348 / higher/ with a target of Rs 338 - ICICI Direct
Infosys Technologies touched a 52-week high of Rs 1,951.80. At 10:39 am, the share was quoting at Rs 1,948, up Rs 81, or 4.34%. It was trading with volumes of 113,382 shares. Yesterday the share closed up 4.01% or Rs 71.90 at Rs 1,867.
Adlabs Films can test Rs 400-405, says Mitesh Thacker, Technical Analyst, miteshthacker.com, on CNBC-TV18
Reliance Industries touched an intraday high of Rs 2,020 and an intraday low of Rs 1,946. At 10:18 am, the share was quoting at Rs 1,998.30, up Rs 64.90, or 3.36%. It was trading with volumes of 224,428 shares. On Friday the share closed down 0.05% or Rs 0.90 at Rs 1,933.40.
Petronet LNG has posted a net profit of Rs 1033.120 million for the quarter ended June 30, 2009 as compared to Rs 1056.467 million for the quarter ended June 30, 2008. It was trading with volumes of 156,862 shares. On Friday the share closed up 8.44% or Rs 89.50 at Rs 1,150. The Petronet LNG stock plunged to Rs 66 after an early surge to Rs 77 and is currently down with a sharp 5.7% loss at Rs 68.25. One holding the stock with a long term plan can stay invested. Fresh buying can be considered at sharp dips.
Reliance Infrastructure was the top loser on the Sensex. It touched an intraday high of Rs 1,184.40 and an intraday low of Rs 1,105.15. The share was quoting at Rs 1,105.80, down Rs 44.2, or 3.84%
Gujarat NRE Coke's net profit has declined sharply in the April - June 2009 quarter. The Company has posted a net profit of Rs 36.40 million for the quarter ended June 30, 2009 as compared to Rs 944.00 million for the quarter ended June 30, 2008.
Total income has decreased from Rs 3821.20 million for the quarter ended June 30, 2008 to Rs 3346.50 million for the quarter ended June 30, 2009. The stock, however, is trading in the positive territory at Rs 46.40, up 1.75% over its previous close.
Petronet LNG touched an intraday high of Rs 77 and an intraday low of Rs 66. At 10:05 am, the share was quoting at Rs 67, down Rs 5.4, or 7.46%. It was trading with volumes of 287,932 shares. On Friday the share closed up 10.70% or Rs 7 at Rs 72.40.
The market opened on a buoyant note this morning on strong global cues. The Sensex sped past the magical 15,000 mark in a flash after opening with a big gap of around 110 points at 14,854. The barometer is up with a strong gain of 230 points or 1.55% at 14,975 at present. The Nifty has gained 66 points or 1.52% at 4440.95.
Brokerage Recommendations 20 July 2009
Brokerage Recommendations 20 July 2009
Buy Sesa Goa on any correction with a target of Rs 265-270, says Ashwani Gujral, technical analyst, on CNBC TV18. The charts are the strongest, he adds. It is currently trading at Rs 236, up 8.4% on the BSE.
Buy Dr Reddy with a target of Rs 850 and stop loss of Rs 750, says Neera Jain of crnindian.com, on CNBC Awaaz. The stock is currently trading at Rs 790, up 2.7% on the BSE.
Buy Infosys with a target of Rs 2050, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 1969, up 5.5% on the BSE.
Buy ICICI Bank with a target of Rs 811 and stop loss of Rs 757, says Mitesh Thakkar, technical analyst, on CNBC TV18, as closing market strategy.
The technology sector was ignored and underowned, and is now likely to rally, says Ashwani Gujral, technical analyst, on CNBC TV18. Buy TCS with a target of Rs 530-565, he says. The stock is currently trading at Rs 495, up 14% on the BSE.
The market sentiment and momentum is good and strong, says Sajeev Dhavan of JV Capital Services, on CNBC TV18. The trend now is to go long, revise stop losses upwards as we are likely to see higher levels, he adds. This is a buy on dips market, he says.
The market is looking good and continues to trade strong. Nifty is trading above the crucial 4500 level. Sensex is trading at 15190, up 446 points and Nifty is at 4502, up 127 points from the previous close. CNX Midcap index is up 2.73% and BSE Smallcap index is up 2.45%. BSE IT index is up 7%, while there is good buying in technology, realty and banking stocks.
In an F&O call, buy Nifty July futures with a target of 4525 and stop loss of 4430, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. This is a bullish trend and one can buy on dips as the market is likely to go to 4580, he says.
In an F&O call, buy Nifty July futures with a target of 4700 and stop loss of 4400, says Hardik Jain, technical analyst, on CNBC Awaaz. This is a buy on dips market, he says.
In an F&O call, buy Nifty July futures with a target of 4500-4700 and stop loss of 4200, says Hormuz Maloo, technical analyst, on CNBC Awaaz. The medium-term trend is strong, so one can buy in a 100-point correction, he says.
In an F&O call, sell Nifty July futures with a target of 4350 and stop loss of 4550, says Akshata Deshmukh, technical analyst, on CNBC Awaaz. The market is likely to see a short covering rally for the next 2-3 sessions, she says.
Buy Shree Renuka Sugars with a target of Rs 155 and stop loss of Rs 135, says Neera Jain of crnindian.com, on CNBC Awaaz. The stock is currently trading at Rs 144, up 0.17% on the BSE.
Buy Allahabad Bank with a medium term target of Rs 92-99-128 and stop loss of Rs 74, says Hemen Kapadia, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 86, up 9.7% on the BSE.
Buy Ashok Leyland with a target of Rs 38 and stop loss of Rs 31, says Neera Jain of crnindian.com, on CNBC Awaaz. The stock is currently trading at Rs 33, down 1.32% on the BSE.
We see a 60% probability that this is a new bull market, says Ridham Desai of Morgan Stanley on CNBC TV18. Unlike in 2003, this time it is a buy on dips market, he says. Government needs to pursue progressive reforms, he says. But may see another couple of tepid earnings season, he feels.
RNRL-RIL gas sharing case adjourned till September 1, reports NDTV Profit. Supreme Court to consider whether Third Party can intervene in the matter. RIL is trading at Rs 2015, up 4.2% and RNRL is at Rs 80, down 2.89% on the BSE.
SMC Global Securities maintains a buy call on Mahindra & Mahindra with a target of Rs 850 in two months, reports CNBC Awaaz. The stock is currently trading at Rs 798, up 2.5% on the BSE.
Hold South Indian Bank for the medium term with a target of Rs 130-135 once it crosses Rs 105, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 104, up 1.6% on the BSE.
ICICI Securities maintains a buy call on TCS with a target of Rs 525 in one year, reports CNBC Awaaz. The stock is currently trading at Rs 509, up 17.41% on the BSE.
Buy Gammon India, Sobha Developers, HCC on a correction for good long-term gains, says Rajesh Tambe of Sunchan Securities on Zee Business.
Buy Mahindra Lifespace with a target of Rs 419, says Dipan Mehta, BSE/NSE Member, on Zee Business. The stock is currently trading at Rs 300, up 7.26% on the BSE.
Bonanza maintains a buy call on BoB with a target of Rs 435 and stop loss of Rs 417, reports CNBC Awaaz. The stock is currently trading at Rs 430, up 3.5% on the BSE.
Asian markets have seen a tearing rally while European markets have opened firm. Our market is also trading on a good note. Sensex is trading at 15149, up 404 points and Nifty is at 4491, up 116 points from the previous close. CNX Midcap index is up 2.24% and BSE Smallcap index is up 2.30%. There is buying in IT, realty and banking stocks. The market breadth is positive with advances at 951 against declines of 249 on the NSE.
Hold RIL with target of Rs 2120-2140 in the next few days if the market remains in an uptrend, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 2015, up 4.2% on the BSE.
Buy Satyam with target of Rs 130, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 66, he adds. The stock is currently trading at Rs 94.35, up 5.8% on the BSE.
Buy Suzlon Energy at Rs 84-85 with target of Rs 110-125, Hitendra Vasudeo, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 95.65, up 0.1% on the BSE.
Hold TCS for good returns in the future, says Rajesh Tambe of Sunchan Securities on Zee Business. The fundamentals of this company are good, he adds. The stock is currently trading at Rs 496, up 14.4% on the BSE.
Hold TCS with target of Rs 525-540 in the next few weeks, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 495.50, up 14.3% on the BSE.
Hold Sterlite Technologies with target of Rs 250-275 in one year, says DD Sharma of Anand Rathi Securities on CNBC Awaaz. The stock is currently trading at Rs 202.15, up 3.3% on the BSE.
Book profits in Suzlon Energy at Rs 130-140, says Paras Bothra of Ashika Stock Broking on NDTV Profit. The stock is currently trading at Rs 96.10, up 0.5% on the BSE.
Hold Glenmark Pharma and exit at Rs 250, says Pankaj Jain of Satguru Capital on Zee Business. Instead invest in Ranbaxy which is a better stock, he adds. The stock is currently trading at Rs 241, up 3.9% on the BSE.
At noon, the market is trading firm and near the day's high. Sensex is trading at 15051, up 306 points from its previous close, and Nifty is at 4462, up 87 points. CNX Midcap index is up 2.1% and BSE Smallcap index is up 2.2%. The market breadth is positive with advances at 941 against declines of 259 on the NSE.
Buy Tata Steel at Rs 300-365 with short-term target of Rs 450, says Hitendra Vasudeo, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 394.65, up 0.5% on the BSE.
There has been a good run-up in the market on some financial reforms post budget, says Milind Barve of HDFC AMC on CNBC TV18. He believes that investors should still keep a close eye on earnings as it is still early to take a call of them. I think monsoon is unlikely to impact the market too much, he adds.
Hold LIC Housing Finance which will give good appreciation in the future, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 634.80, up 1.9% on the BSE.
Buy Satyam above Rs 90-92 with target of Rs 125, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 93, up 4.3% on the BSE.
Buy JSW Steel which is showing a good upmove, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep short-term target of Rs 650 he adds. The stock is currently trading at Rs 606, up 0.9% on the BSE.
Hold Jindal Steel & Power with long-term target of Rs 3000, says Pankaj Jain of Satguru Capital on Zee Business. It has good support at Rs 2250, he adds. The stock is currently trading at Rs 2645, up 0.9% on the BSE.
Buy Indiabulls Real Estate with targets of Rs 250 and then 280, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 228, up 0.8% on the BSE.
Buy Crompton Greaves at Rs 300 with target of Rs 330, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 285, he adds. The stock is currently trading at Rs 290.25, down 4.1% on the BSE.
Hold Satyam with short-term target of Rs 95, says Pankaj Jain of Satguru Capital on Zee Business. It is currently trading in the range of Rs 75-95, he adds. The stock is currently trading at Rs 93, up 4.3% on the BSE.
Buy Satyam which is looking good for the long term, says Prakash Gaba, technical analyst, on CNBC Awaaz. Keep targets of Rs 100 and then 130, he adds. The stock is currently trading at Rs 93.25, up 4.6% on the BSE.
Buy Voltas with target of Rs 140, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 120, he adds. The stock is currently trading at Rs 131.80, up 1.4% on the BSE.
Buy Bank of Baroda at Rs 415 with target of Rs 440, says Sudarshan Sukhani, technical analyst, on CNBC TV18. Keep stop loss below Rs 400, he adds. The stock is currently trading at Rs 423.50, up 2% on the BSE.
Buy NIIT Tech with target of Rs 112, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 98, he adds. The stock is currently trading at Rs 105.55, up 1.3% on the BSE. » Send to friends
Buy Firstsource with intra-day target of Rs 24, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 21, he adds. The stock is currently trading at Rs 22.40, up 1.6% on the BSE.
Buy Karnataka Bank with target of Rs 150, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 130, he adds. The stock is currently trading at Rs 141.65, up 25 on the BSE.
Buy Shree Renuka Sugars with intra-day target of Rs 152, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 142, he adds. The stock is currently trading at Rs 145.50, up 0.5% on the BSE.
Buy ICICI Bank at Rs 743 with intra-day target of Rs 760, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 734, she adds. The stock is at Rs 742.45, up 6.8% on the BSE.
Buy Kajaria Ceramics with intra-day target of Rs 39, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 35, he adds. The stock is at Rs 36.40, up 10% on the BSE.
The TCS numbers are better than street estimates but the guidance is slightly muted, says Jagdish Malkani of Taib India on CNBC TV18. The upside for the market looks limited and I expect selling pressure above 4400 on the Nifty, he adds.
Buy Satyam at Rs 89 with intra-day target of Rs 94.50, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 87, she adds. The stock is at Rs 89.15, up 8.7% on the BSE.
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