Brokerage Recommendations 29th June 2009
Positive global cues aided our market trade firm at noon but profit booking set in, in late trade. The market ended flat today with a strong rally in infrastructure and sugar stocks. Sensex shut shop at 14785, up 21 points and Nifty at 4390, up 15 points from the previous close. CNX Midcap index was up 1.10% and BSE Smallcap index was up 1.50%. The market breadth was positive with advances at 840 against declines of 400 on the NSE. Top Nifty gainers included Axis Bank, SAIL and DLF while losers included Tata Motors, Suzlon and TCS.
Buy Kalindee Rail with a target of Rs 430 in 2 years, says Ashish Kapur of InvestShoppe on CNBC Awaaz. The stock is currently trading at Rs 225, up 4.54% on the BSE.
Hold BGR Energy with a target of Rs 350 after which it can go to Rs 380-400 and keep a stop loss of Rs 260, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 317, down 6.3% on the BSE.
Buy PNB with a target of Rs 700 and stop loss of Rs 620, says Neera Jain of crnindia.com on CNBC Awaaz. The stock is currently trading at Rs 679, up 3.6% on the BSE.
Buy Era Infrastructure with a short-term target of Rs 140, says Ashish Kapur of InvestShoppe on CNBC Awaaz. The stock is currently trading at Rs 114, up 9.27% on the BSE.
Buy RIL with a target of Rs 2175 and stop loss of Rs 2050, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Buy Cairn India with a target of Rs 265 and stop loss of Rs 220, says Ashwani Gujral, technical analyst, on CNBC Awaaz, as closing market strategy.
The budget is likely to be positive for the market as it would be growth friendly, says Prateek Agarwal, market expert, on NDTV Profit. But the market is unlikely to see any sharp uptick or downtick from the budget, he feels. There is more likely to be a gradual improvement in market levels, he adds.
This is a technical rally and market is likely to see selling pressure at higher levels, says Anil Maghnani, technical analyst, on Zee Business. Till Nifty holds above 4482 this correction is healthy for the market, he feels.
The market is seeing profit booking at higher levels and is trending lower. Sensex is trading at 14784, up 20 points and Nifty is at 4390, up 14 points from the previous close. CNX Midcap index is up 1.10% and BSE Smallcap index is up 1.65%. The market breadth is positive with advances at 864 against declines of 366 on the NSE.
In an F&O call, buy Nifty July futures with a target of 4500 and stop loss of 4400, says Prakash Gaba, technical analyst, on CNBC Awaaz. Book partial profits around Nifty 4550, he adds.
In an F&O call, buy Nifty July futures with a target of 4450 and stop loss of 4365, says Ashwani Gujral, technical analyst, on CNBC Awaaz. Book partial profits around Nifty 4650 as upside seems capped here, he adds.
In an F&O call, buy Nifty July futures with a target of 4460 and stop loss of 4395, says Raj Kishore Bang, technical analyst, on CNBC Awaaz. If the market crosses 4465 it will get into a new higher range where one can keep a stop loss of 4375, he adds.
In an F&O call, buy Nifty July futures with a target of 4600 and stop loss of 4300, says Hardik Jain, technical analyst, on CNBC Awaaz. The market is showing good momentum, if it crosses 4440-4450 then 4650 is possible, he adds.
Buy Federal Bank with a target of Rs 260 and stop loss of Rs 240, says Neera Jain of crnindia.com on CNBC Awaaz. The stock is currently trading at Rs 257, up 5.04% on the BSE.
Buy Bartronics with a target of Rs 235, says Harit Shah of Angel Broking on CNBC Awaaz. The stock is currently trading at Rs 182, up 0.39% on the BSE.
Buy Petronet LNG with a target of Rs 78 and stop loss of Rs 70, says Neera Jain of crnindia.com on CNBC Awaaz. The stock is currently trading at Rs 74, up 2.6% on the BSE.
In an F&O call, buy ACC July futures with a target of 820 and stop loss of 768, Srikant Chouhan of Kotak Securities, on CNBC Awaaz. The stock is currently trading at Rs 800, up 0.15% on the BSE.
Buy ONGC with a target of Rs 1200, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1070, up 2.84% on the BSE.
In an F&O call, buy IDFC July futures with a target of 150 and stop loss of 128, Srikant Chouhan of Kotak Securities, on CNBC Awaaz. The stock is currently trading at Rs 140, up 2.25% on the BSE.
Buy RIL with a target of Rs 2175-2200, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 2094, up 3.25% on the BSE.
In an F&O call, buy PFC July futures with a target of 230 and stop loss of 190, Srikant Chouhan of Kotak Securities, on CNBC Awaaz. The stock is currently trading at Rs 201, up 0.25% on the BSE.
Sell Noida Toll Bridge with a target of Rs 38 and stop loss of Rs 45, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 43, up 0.81% on the BSE.
Sell Welspun Gujarat with a target of Rs 165 and stop loss of Rs 212, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 214, up 4.87% on the BSE.
In an F&O call, buy Bombay Rayon July futures with a target of 225-235 and stop loss of 187, Srikant Chouhan of Kotak Securities, on CNBC Awaaz. The stock is currently trading at Rs 193, down 3.54% on the BSE.
Hold Hindalco with target of Rs 113 in September-October, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 80 and resistance at Rs 98, he adds. The stock is currently trading at Rs 88, up 2.02% on the BSE.
Buy CMC with a target of Rs 950, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock could be a long-term outperformer, he adds. It is currently trading at Rs 792, up 0.37% on the BSE.
Hold Bartronics which is clearly in an uptrend now and we can expect an upmove, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 172 and resistance at Rs 203, he adds. The stock is currently trading at Rs 182, up 0.77% on the BSE.
The market is fairly valued with limited downside risks, says Prabhat Awasthi of Nomura Financial Advisories & Securities on CNBC TV18. We have set a 12-month Sensex target of 16400, he adds. He would advise a mix of defensives and domestic cyclical stocks.
Buy IDBI Bank with a target of Rs 120-125, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 117, up 1.34% on the BSE.
The Asian markets are trading quiet while European markets have opened soft. Our market is looking good. Sensex is trading at 14881, up 102 points and Nifty is at 4414, up 39 points from the previous close. CNX Midcap index is up 1.34% and BSE Smallcap index is up 2.09%. The market breadth is positive with advances at 917 against declines of 300 on the NSE.
Hold ITC with target of Rs 230, says Prasad Kushe, technical analyst, on CNBC Awaaz. It has support at Rs 175 and resistance at Rs 210, he adds. The stock is currently trading at Rs 194, down 1.4% on the BSE.
Buy Nalco above Rs 314 with target of Rs 360, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 312.45, up 1.3% on the BSE.
Buy Unity Infraprojects with short-term target of Rs 365, says a market expert from Sharekhan on NDTV Profit. The stock is currently trading at Rs 336.10, up 5% on the BSE.
Buy Hindalco on decline if the view is long term, for 1-1.5 years, says P Phani Sekhar of Angel Broking on NDTV Profit. Short-term investors should exit on rally, he adds. The stock is currently trading at Rs 87.60, up 1.1% on the BSE.
Hold Chambal Fertilisers with target of Rs 80 in 3-4 months, says Hemen Kapadia, technical analyst, on NDTV Profit. Buy more on dips at Rs 60, he adds. The stock is currently trading at Rs 67.30, up 3.2% on the BSE.
Buy Astra Microwave with medium-term target of Rs 90-115 and long-term target of Rs 200, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 75, he adds. The stock is currently trading at Rs 83.50, up 2.4% on the BSE.
Hold Unitech with targets of Rs 104 and then Rs 125-130, says Ashwani Gujral, technical analyst, on CNBC TV18. It has key support at Rs 72, he adds. The stock is currently trading at Rs 85.40, up 3.7% on the BSE.
Buy Suzlon Energy on dips at Rs 100-105, says Hemen Kapadia, technical analyst, on NDTV Profit. Keep targets of Rs 140 and then 160 in August-September, he adds. He sees support for it at Rs 115. The stock is currently trading at Rs 117.50, down 4.7% on the BSE.
Hold DLF with target of Rs 350, says Prakash Gaba, technical analyst, on CNBC Awaaz. It is a stronger stock than Unitech, he adds. The stock is currently trading at Rs 338.95, up 4.1% on the BSE.
Buy Tata Power with medium-term targets of Rs 1400 and then 1600, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 1050, he adds. The stock is currently trading at Rs 1158, down 0.5% on the BSE.
Buy Suzlon Energy on dips with targets of Rs 128 and then 145, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 110, he adds. The stock is currently trading at Rs 117.55, down 4.7% on the BSE.
Buy Neyveli Lignite at Rs 110 with target of Rs 175-240 in 1-1.5 months, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 105, he adds. The stock is currently trading at Rs 126, up 0.1% on the BSE.
I expect the budget to be a non-event from market perspective, says Hans Goetti of LGT Bank on CNBC TV18. He believes that valuations have now started reaching fair zone in India. Liquidity flows may continue into Asia over the next two months and the Sensex may hit 16000 levels over medium-term, he adds.
Hold IFCI with target of Rs 100, says Rajesh Tambe of Sunchan Securities on Zee Business. The stock is currently trading at Rs 57.15, up 2.9% on the BSE.
Hold DCB with target of Rs 49, says Ashwani Gujral, technical analyst, on CNBC TV18. It has support at Rs 34 and resistance at Rs 44, he adds. The stock is currently trading at Rs 39.40, up 1.7% on the BSE.
Buy Sesa Goa with target of Rs 220-240 in two weeks, says Prasad Kushe, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 170, he adds. The stock is currently trading at Rs 187.90, down 2.4% on the BSE.
Buy BHEL with long-term view, says Vijay Bhambwani, technical analyst on CNBC Awaaz. It has resistance at Rs 2450 and support at Rs 1840, he adds. The stock is currently trading at Rs 2212, up 0.5% on the BSE.
An hour into opening, the market is trading rather subdued, witnessing sporadic buying. Asia is trading mixed. Sensex is trading at 14728, down 35 points from its previous close, and Nifty is at 4365, down 10 points. CNX Midcap index is up 0.8% and BSE Smallcap index is up 1.2%. The market breadth is positive with advances at 787 against declines of 368 on the NSE.
Buy Reliance Capital at Rs 930 with target of Rs 1050, says Pankaj Jain of Satguru Capital on Zee Business. Keep stop loss of Rs 890, he adds. The stock is currently trading at Rs 972.55, up 3.6% on the BSE.
Hold HDIL with target of Rs 327, says Ashwani Gujral, technical analyst, on CNBC TV18. It has support at Rs 225, he adds. The stock is currently trading at Rs 265, up 5.1% on the BSE.
Hold Wockhardt Ltd with long-term target of Rs 175, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has support at Rs 130, he adds. The stock is currently trading at Rs 146, up 2.5% on the BSE.
Buy JSW Steel at Rs 623 with target of Rs 652, says SP Tulsian, investment advisor, on CNBC TV18. The stock is currently trading at Rs 628, up 0.7% on the BSE.
Buy Suzlon Energy at Rs 105-110, says Pankaj Jain of Satguru Capital on Zee Business. Keep short-term target of Rs 125-127 and medium-term target of Rs 140 plus, he adds. The stock is currently trading at Rs 115.50, down 6.4% on the BSE.
Buy RComm with target of Rs 328-330, says Mitesh Thacker, technical analyst, on CNBC TV18. The stock is currently trading at Rs 316, up 1.2% on the BSE.
Buy 4400 Nifty Call Options with target of Rs 206, says Hemen Kapadia, technical analyst, on CNBC TV18. Keep stop loss of Rs 176, he adds.
Buy Balrampur Chini with intra-day target of Rs 118, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 109, he adds. The stock is currently trading at Rs 114, up 4.3% on the BSE.
Buy IFCI with intra-day target of Rs 59, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 55, he adds. The stock is currently trading at Rs 55.95, up 0.7% on the BSE.
Buy Axis Bank at Rs 818 with target of Rs 838, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 808, she adds. The stock is at Rs 818.45, up 5.3% on the BSE.
Buy Jaiprakash Associates at Rs 221 with target of Rs 226, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 218, she adds. The stock is at Rs 221.20, up 1.6% on the BSE.
The market will open on a positive note today, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. He sees strong resistance for the Nifty at 4450. He advises buying when the market opens for gains of 30-40 points.
Buy PNB at Rs 655 with target of Rs 670, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 645, she adds. The stock is at Rs 655.30, up 4.1% on the BSE.
Showing posts with label Learn2earn NSE. Show all posts
Showing posts with label Learn2earn NSE. Show all posts
Wednesday, July 1, 2009
Monday, June 22, 2009
BSE, NSE Brokerage Recommendations 22 Jun 2009
Buy HPCL with a target of Rs 325 and stop loss of Rs 290, says Raj Kishore Bank, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 305, up 1.14% on the BSE.
Sell Ultratech Cements with a target of Rs 620 and stop loss of Rs 700, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 656, down 1.99% on the BSE.
Buy Nifty 4300 June puts and sell 4100 puts, says Nitin Muraka of SMC Global Securities on Zee Business, as closing market strategy.
Buy Nifty with stop loss of 4225 and target of 4350, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Hold Nifty short positions with stop loss of 4325 and target of 4200, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy.
Buy Sesa Goa June futures with a target of Rs 214 and stop loss of Rs 242, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 189, up 0.96% on the BSE.
Buy Jay Shree Tea with a target of Rs 210 and stop loss of Rs 170, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 200, down 2.88% on the BSE.
Buy Bank of Baroda June futures with a target of Rs 490-510 and stop loss of Rs 242, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 440, up 1.45% on the BSE.
In an F&O call, buy Nifty June futures with a target of 4325 and stop loss of 4210, says Nishant Jain of Tradeswift, on CNBC Awaaz.
In an F&O call, buy Nifty June futures with a target of 4300 and stop loss of 4225, says Hemen Kapadia, technical analyst, on CNBC Awaaz.
In an F&O call, sell Nifty futures with a target of 4220 and stop loss of 4280, says Salil Sharma of Kapoor & Sharma Company, on CNBC Awaaz. He suggests shorting Nifty if it crosses 4260.
Buy Bajaj Hindustan with a target of Rs 235 and stop loss of Rs 192, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 213, down 0.51% on the BSE.
Hold Central Bank with a target of Rs 100-125 where one can book part profits, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 86, up 1.29% on the BSE.
Sell Tata Steel with a target of Rs 380 and stop loss of Rs 430, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 407, down 1.22% on the BSE.
BHEL has bagged an order of Rs 105 crore for captive power plant, reports NDTV Profit. The stock is currently trading at Rs 2099, up 0.45% on the BSE.
Buy ICICI Bank with a target of Rs 800 and stop loss of Rs 700, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 733, up 2.81% on the BSE.
SMC Global Securities maintains a buy call on Infosys with a target of Rs 1950 and stop loss of Rs 1670, reports CNBC Awaaz. The stock is currently trading at Rs 1759, down 0.63% on the BSE.
Hold Renuka Sugar with a stop loss of Rs 124, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 130, down 2.68% on the BSE.
Jindal Saw has bagged an order of Rs 1000 crore, reports Zee Business. The stock is currently trading at Rs 382, up 4.6% on the BSE.
If Nifty breaks 4650 decisively, meaning holds that level for a week or so, the market could challenge the old highs of Nifty 6100, says Rakesh Jhunjhunwala, market expert, on CNBC TV18. Market unlikely to breach 4000 Nifty level in 6-9 months, he adds.
Hold Ashok Leyland because there is still some upside left in it, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 28 and resistance at Rs 38, he adds. The stock is currently trading at Rs 30.30, down 1.5% on the BSE.
Buy Ispat Industries at Rs 20 with short-term target of Rs 30, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 22.75, down 0.4% on the BSE
Buy Voltas with target of Rs 144, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 126, up 4.8% on the BSE.
There is a chance that the global counter trend rally may be over, says Chris Wood of CLSA on CNBC TV18. However, he would still not bet aggressively on this view in terms of shorting the market and base case S&P 500 target of 1000-1050 remains intact. Even if Asian equities head higher over the next two months, any subsequent correction will bring them lower than current levels, he adds.
Buy SAIL at Rs 135-145 with long-term target of Rs 250, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 152.50, up 0.10% on the BSE.
Hold ICICI Bank with target of Rs 900 in two months, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 684 and resistance at Rs 795, he adds. The stock is currently trading at Rs 739.10, up 3.6% on the BSE.
Hold GMR Infra with short-term target of Rs 185, says Prasad Kushe, technical analyst, on CNBC Awaaz. Long-term investors can hold with target of Rs 250, he adds. The stock is currently trading at Rs 145.40, down 0.9% on the BSE.
Buy RIL at Rs 1860 with target of Rs 2600-2700 in 3-4 months, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1998.10, down 2% on the BSE.
Buy Bharti Airtel on dips with long-term view, says Gaurang Shah of Geojit BNP Paribas on CNBC Awaaz. The stock is currently trading at Rs 807, up 0.2% on the BSE.
Hold SBI with target of Rs 1850, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has support at Rs 1600, he adds. The stock is currently trading at Rs 1731.95, up 0.8% on the BSE.
Hold Tata Steel with short-term target of Rs 500, says Prasad Kushe, technical analyst, on CNBC Awaaz. Buy again at Rs 375 and then hold with long-term target of Rs 600, he adds. The stock is currently trading at Rs 418.20, up 1.6% on the BSE.
Hold JSW Steel and buy more on dips, says Rajesh Tambe of Sunchan Securities on Zee Business. The international and domestic news on the steel sector are encouraging, he adds. The stock is currently trading at Rs 631.90, up 4.4% on the BSE.
Hold KS Oil with stop loss of Rs 55, says Pankaj Jain of Satguru Capital on Zee Business. It has resistance at Rs 63 crossing which it can go up to Rs 70 at which level exit, he adds. The stock is currently trading at Rs 59.65, down 1% on the BSE.
Hold Tata Tea with target of Rs 850-925 in 12-18 months, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 735.55, up 1% on the BSE.
Hold JSW Steel with target of Rs 675, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 633, up 4.6 on the BSE.
Buy Patni Computers with target of Rs 275-280, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 225, he adds. The stock is currently trading at Rs 256.80, up 6.1% on the BSE.
Invest in Kalindee Rail for long term, says Daljeet Kohli of Emkay Shares and Stock Brokers on CNBC Awaaz. Fundamentals of this company are good, he adds. The stock is currently trading at Rs 199.20, up 7.1% on the BSE.
Buy Punj Lloyd with target of Rs 220-225, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 164, he adds. The stock is currently trading at Rs 202, up 3.7% on the BSE.
Hold Tech Mahindra for long term with target of Rs 1000 plus, says Pankaj Jain of Satguru Capital on Zee Business. The stock is currently trading at Rs 769, up 1.1% on the BSE.
Buy SBI with target of Rs 1765, says Devangshu Dutta, market expert, on CNBC TV18. Keep stop loss of Rs 1700, he adds. The stock is currently trading at Rs 1756, up 2% on the BSE.
Hold Gateway Distriparks with target of Rs 120, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 100.75, down 0.2% on the BSE.
Buy HPCL with intra-day target of Rs 310, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 300, he adds. The stock is currently trading at Rs 302, up 0.1% on the BSE.
Sell Mahindra & Mahindra at Rs 732 with target of Rs 721, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 745, she adds. The stock is currently trading at Rs 729, down 1.1% on the BSE.
Buy Reliance Communications with intra-day target of Rs 325 says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of 303, he adds. The stock is currently trading at Rs 315,up 3.2% on the BSE.
Buy Bank of Rajasthan with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 59, he adds. The stock is currently trading at Rs 62.05, up 4.2% on the BSE.
Buy JSW Steel at Rs 610 with target of Rs 625, Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 600, she adds. The stock is at Rs 611.95, up 1.1% on the BSE.
Buy HDFC at Rs 2291 with target of Rs 2330, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 2270, she adds. The stock is at Rs 2294.70, up 1% on the BSE.
Sell Ultratech Cements with a target of Rs 620 and stop loss of Rs 700, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 656, down 1.99% on the BSE.
Buy Nifty 4300 June puts and sell 4100 puts, says Nitin Muraka of SMC Global Securities on Zee Business, as closing market strategy.
Buy Nifty with stop loss of 4225 and target of 4350, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Hold Nifty short positions with stop loss of 4325 and target of 4200, says Vijay Bhambwani, technical analyst, on CNBC Awaaz, as closing market strategy.
Buy Sesa Goa June futures with a target of Rs 214 and stop loss of Rs 242, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 189, up 0.96% on the BSE.
Buy Jay Shree Tea with a target of Rs 210 and stop loss of Rs 170, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 200, down 2.88% on the BSE.
Buy Bank of Baroda June futures with a target of Rs 490-510 and stop loss of Rs 242, says Mitesh Thakkar, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 440, up 1.45% on the BSE.
In an F&O call, buy Nifty June futures with a target of 4325 and stop loss of 4210, says Nishant Jain of Tradeswift, on CNBC Awaaz.
In an F&O call, buy Nifty June futures with a target of 4300 and stop loss of 4225, says Hemen Kapadia, technical analyst, on CNBC Awaaz.
In an F&O call, sell Nifty futures with a target of 4220 and stop loss of 4280, says Salil Sharma of Kapoor & Sharma Company, on CNBC Awaaz. He suggests shorting Nifty if it crosses 4260.
Buy Bajaj Hindustan with a target of Rs 235 and stop loss of Rs 192, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 213, down 0.51% on the BSE.
Hold Central Bank with a target of Rs 100-125 where one can book part profits, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 86, up 1.29% on the BSE.
Sell Tata Steel with a target of Rs 380 and stop loss of Rs 430, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 407, down 1.22% on the BSE.
BHEL has bagged an order of Rs 105 crore for captive power plant, reports NDTV Profit. The stock is currently trading at Rs 2099, up 0.45% on the BSE.
Buy ICICI Bank with a target of Rs 800 and stop loss of Rs 700, says Neera Jain of crnindia.com, on CNBC Awaaz. The stock is currently trading at Rs 733, up 2.81% on the BSE.
SMC Global Securities maintains a buy call on Infosys with a target of Rs 1950 and stop loss of Rs 1670, reports CNBC Awaaz. The stock is currently trading at Rs 1759, down 0.63% on the BSE.
Hold Renuka Sugar with a stop loss of Rs 124, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 130, down 2.68% on the BSE.
Jindal Saw has bagged an order of Rs 1000 crore, reports Zee Business. The stock is currently trading at Rs 382, up 4.6% on the BSE.
If Nifty breaks 4650 decisively, meaning holds that level for a week or so, the market could challenge the old highs of Nifty 6100, says Rakesh Jhunjhunwala, market expert, on CNBC TV18. Market unlikely to breach 4000 Nifty level in 6-9 months, he adds.
Hold Ashok Leyland because there is still some upside left in it, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 28 and resistance at Rs 38, he adds. The stock is currently trading at Rs 30.30, down 1.5% on the BSE.
Buy Ispat Industries at Rs 20 with short-term target of Rs 30, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 22.75, down 0.4% on the BSE
Buy Voltas with target of Rs 144, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 126, up 4.8% on the BSE.
There is a chance that the global counter trend rally may be over, says Chris Wood of CLSA on CNBC TV18. However, he would still not bet aggressively on this view in terms of shorting the market and base case S&P 500 target of 1000-1050 remains intact. Even if Asian equities head higher over the next two months, any subsequent correction will bring them lower than current levels, he adds.
Buy SAIL at Rs 135-145 with long-term target of Rs 250, says Prasad Kushe, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 152.50, up 0.10% on the BSE.
Hold ICICI Bank with target of Rs 900 in two months, says Hemen Kapadia, technical analyst, on NDTV Profit. It has support at Rs 684 and resistance at Rs 795, he adds. The stock is currently trading at Rs 739.10, up 3.6% on the BSE.
Hold GMR Infra with short-term target of Rs 185, says Prasad Kushe, technical analyst, on CNBC Awaaz. Long-term investors can hold with target of Rs 250, he adds. The stock is currently trading at Rs 145.40, down 0.9% on the BSE.
Buy RIL at Rs 1860 with target of Rs 2600-2700 in 3-4 months, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1998.10, down 2% on the BSE.
Buy Bharti Airtel on dips with long-term view, says Gaurang Shah of Geojit BNP Paribas on CNBC Awaaz. The stock is currently trading at Rs 807, up 0.2% on the BSE.
Hold SBI with target of Rs 1850, says Prakash Gaba, technical analyst, on CNBC Awaaz. It has support at Rs 1600, he adds. The stock is currently trading at Rs 1731.95, up 0.8% on the BSE.
Hold Tata Steel with short-term target of Rs 500, says Prasad Kushe, technical analyst, on CNBC Awaaz. Buy again at Rs 375 and then hold with long-term target of Rs 600, he adds. The stock is currently trading at Rs 418.20, up 1.6% on the BSE.
Hold JSW Steel and buy more on dips, says Rajesh Tambe of Sunchan Securities on Zee Business. The international and domestic news on the steel sector are encouraging, he adds. The stock is currently trading at Rs 631.90, up 4.4% on the BSE.
Hold KS Oil with stop loss of Rs 55, says Pankaj Jain of Satguru Capital on Zee Business. It has resistance at Rs 63 crossing which it can go up to Rs 70 at which level exit, he adds. The stock is currently trading at Rs 59.65, down 1% on the BSE.
Hold Tata Tea with target of Rs 850-925 in 12-18 months, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 735.55, up 1% on the BSE.
Hold JSW Steel with target of Rs 675, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 633, up 4.6 on the BSE.
Buy Patni Computers with target of Rs 275-280, says Ashwani Gujral, technical analyst, on CNBC TV18. Keep stop loss of Rs 225, he adds. The stock is currently trading at Rs 256.80, up 6.1% on the BSE.
Invest in Kalindee Rail for long term, says Daljeet Kohli of Emkay Shares and Stock Brokers on CNBC Awaaz. Fundamentals of this company are good, he adds. The stock is currently trading at Rs 199.20, up 7.1% on the BSE.
Buy Punj Lloyd with target of Rs 220-225, says Vijay Bhambwani, technical analyst, on CNBC Awaaz. It has support at Rs 164, he adds. The stock is currently trading at Rs 202, up 3.7% on the BSE.
Hold Tech Mahindra for long term with target of Rs 1000 plus, says Pankaj Jain of Satguru Capital on Zee Business. The stock is currently trading at Rs 769, up 1.1% on the BSE.
Buy SBI with target of Rs 1765, says Devangshu Dutta, market expert, on CNBC TV18. Keep stop loss of Rs 1700, he adds. The stock is currently trading at Rs 1756, up 2% on the BSE.
Hold Gateway Distriparks with target of Rs 120, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 100.75, down 0.2% on the BSE.
Buy HPCL with intra-day target of Rs 310, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 300, he adds. The stock is currently trading at Rs 302, up 0.1% on the BSE.
Sell Mahindra & Mahindra at Rs 732 with target of Rs 721, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 745, she adds. The stock is currently trading at Rs 729, down 1.1% on the BSE.
Buy Reliance Communications with intra-day target of Rs 325 says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of 303, he adds. The stock is currently trading at Rs 315,up 3.2% on the BSE.
Buy Bank of Rajasthan with intra-day target of Rs 65, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 59, he adds. The stock is currently trading at Rs 62.05, up 4.2% on the BSE.
Buy JSW Steel at Rs 610 with target of Rs 625, Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 600, she adds. The stock is at Rs 611.95, up 1.1% on the BSE.
Buy HDFC at Rs 2291 with target of Rs 2330, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 2270, she adds. The stock is at Rs 2294.70, up 1% on the BSE.
Market Voices 22 Jun 2009
Market Voices 22 Jun 2009
After a positive start and a subsequent fall this morning, the market rebounded smartly this morning only to plunge deep down into the red in afternoon trade.
While the positive trend in Asian markets prompted a bright start, weakness in European markets and lower U.S. index futures sent stock prices tumbling down into the red this afternoon.
The Sensex, after moving in a range of around 400 points - it touched a high of 14,668 and a low of 14,269 today -, provisionally ended at the day's low, recording a big loss of 252 points or 1.74%. The Nifty closed at 4222.70, down 90.90 points or 2.11%.
Oil stocks, led by heavyweights Reliance Industries and ONGC declined sharply. Metals and realty stocks had a good spell but failed to hold at higher levels and ended on a weak note. Power, PSU, auto and IT stocks also ended lower. Select bank, capital goods and FMCG stocks posted notable gains.
Maruti Suzuki, ITC, ICICI Bank and L&T ended on a firm note. Tata Power, Grasim, Hindalco, Reliance Infra, M&M, Tata Motors, NTPC, TCS, Sterlite, Tata Steel, DLF, HDFC Bank, SBI and Bharti Airtel ended with sharp losses.
Ambuja Cements, Nalco, Unitech, HCL Tech, SAIL, RPower, Tata Comm, Reliance Capital, Suzlon, Siemens, Idea Cellular, Cairn India and GAIL India closed with notable losses.
Midcap and smallcap stocks failed to retain gains. The market breadth was weak at close.
Ambuja Cements (Rs 86.50) is a good buy at declines. The stock is likely to see some weakness in the near term, but one holding the stock can stay invested and buy more at dips. Short term traders can make an exit at Rs 100 - 105 levels and get back into the counter later at declines.
The market will be looking for global cues this week. With the U.S. Federal Reserve to meet and come out with its outlook on interest rates, the market is sure to get some direction this week.
The expiry of June series derivatives will also have a say in the market's direction. A moderate to high degree of volatility is in the offing. Investors looking for fresh exposure would do well to stay at the sidelines for now.
One can go in for bank stocks for decent gains over a short to medium term. Low priced stocks such as Syndicate Bank, UCO Bank, Central Bank of India, Dena Bank and Andhra Bank can be bought for solid gains.
Among the big ones, SBI and HDFC Bank can give fairly good returns over a 6 - 9 month period.
BHEL (Rs 2093) may see some weakness in the near term. But one can hold the stock with a stop loss near Rs 1950 for now. In the event of the stock breaching a support at that level, a fall to Rs 1800 or even lower is not ruled out. Still, one willing to wait long term can use such a dip to increas exposure to the counter.
It is widely speculated in the market circles that Neyveli Lignite Corporation could be one of the candidates on the government's disinvestment list. The stock, currently traded at Rs 120, is a good one for long term. One can go in for it at sharp declines.
Reliance Communications is reported to have started preliminary talks with China Mobile, the world's largest mobile company, for a strategic alliance and possible equity participation of 5 to 6 per cent. The stock is trading at Rs 302, down by around a per cent. Investors holding the stock with a long term plan can continue to stay invested and increase exposure at dips.
Parsvnath Developers has announced that its shareholders have approved raising up to Rs 2,500 crore through issue of securities and to increase the foreign investment limit in the company by up to 40 per cent. The stock, traded at Rs 83, can be tried at declines for long term.
One can go in for Bhart Airtel (Rs 801) at sharp declines. Though the stock is likely to see some downside in the near run, its long term prospect continue to remain bright. One would do well to pick up the stock in a phased manner.
Infrastructure stocks GMR Infra, Gammon, PBA Infrastructure, RIIL and IVRCL Infrastructure may see some weak spells in the near run. however, investors looking at long term can treat sharp dips as opportunities to buy these stocks.
Reliance Industries (cmp Rs 1996) can be picked up in a staggered manner at declines. Long term investors can stay invested in the stock and look to buy more around Rs 1850- 1875 levels. Short term traders can use rallies to book profits and buy back later at declines.
Patni Computer Systems (Rs 258) can move up to Rs 280 or even higher if it manages to break a resistance near Rs 265. One holding the stock with a long term view can stay invested with a trailing stop loss. Short term traders can exit around Rs 280 and re-enter later at declines. For now, a stop loss can be placed near Rs 220.
Jindal Saw has bagged orders worth over Rs 1,000 crore for supply of large diameter pipes and ductile iron pipes for domestic and export markets. The domeistic supply orders are from GAIL and HPCL while the export orders are primarily from middle-easter market. The total order book of JSL now stands at around Rs 3,600 crore. The Jindal Saw stock is up by as much as 4.55% at Rs 382.40 at present.
Dolphin Offshore Enterprises India Ltd has informed that the company has received an LOI for Structural Modification work at unmanned platforms in MH for deployment of Modular rig on turn key basis by M/s. Instrumentation Ltd. The value of the said LOI is around Rs 106 crore and the completion date of this contract, which will commence shortly, is May 28, 2011.
McNally Bharat Engineering Company Ltd has received an order from Paradip Port Trust for Design, Manufacture, Supply, Installation and Commissioning of two 3000 TPH capacity Reclaimers at Paradip, in Jagatsinghpur district, Orissa. The value of the order is estimated to be around Rs 30.60 crore including taxes and duties.
ABB Limited has won orders worth worth Rs 550 million to provide the electrical infrastructure for modernization of Kolkatta airport.
The ABB stock is up 1.5% at Rs 752.25 at present. The stock, after opening at Rs 750, rose to Rs 766.85 earlier this morning.
Market Outlook
The market is likely to open on a cautiously positive note this morning. Short-covering ahead of derivatives expiry and bargain hunting after some severe setbacks suffered in the previous week may buoy up prices of a few front line stocks. Some volatility is in the offing.
Sector Watch
Technology stocks are likely to attract attention. Some battered down metals and realty stocks are expected to bounce back. Bank stocks may edge higher. FMCG and pharma sectors will see stock specific action.
Scrip Watch
Neyveli Lignite Corporation Limited has posted a net profit of Rs 8210.90 million for the year ended March 31, 2009 as compared to Rs 11015.70 million for the year ended March 31, 2008. Total Income has increased from Rs 36380.70 million for the year ended March 31, 2008 to Rs 40198.90 million for the year ended March 31, 2009.
SBI may edge higher with the bank's board approving the acquisition of State Bank of Indore. State Bank of India has already absorbed State Bank of Saurashtra and has said it is progressively looking to merge its other associate banks as well.
DLF is likely to be in focus on reports that the company is close to raising $300 million through external commercial borrowing to invest in its integrated township projects.
Oil stocks will be in focus on reports that the oil ministry is examining a proposal to force oil and gas producers to pay royalties to the government on the basis of sale prices rather than the present system of wellhead value. ONGC, Cairn India and RIL are likely to be affected by the move.
Sun Pharmaceutical Industries is likely to see action following the company getting the US FDA nod to launch generic version of Pfizer's blood pressure drug Accupril. The drug has annual sales of about $45 million in the United States.
Macro and Market Factors
The Wall Street ended on a mixed note on Friday last week after a lackluster session. Asian markets are exhibiting a steady trend today and this is likely to prompt a positive start on the Indian bourses this morning.
After a positive start and a subsequent fall this morning, the market rebounded smartly this morning only to plunge deep down into the red in afternoon trade.
While the positive trend in Asian markets prompted a bright start, weakness in European markets and lower U.S. index futures sent stock prices tumbling down into the red this afternoon.
The Sensex, after moving in a range of around 400 points - it touched a high of 14,668 and a low of 14,269 today -, provisionally ended at the day's low, recording a big loss of 252 points or 1.74%. The Nifty closed at 4222.70, down 90.90 points or 2.11%.
Oil stocks, led by heavyweights Reliance Industries and ONGC declined sharply. Metals and realty stocks had a good spell but failed to hold at higher levels and ended on a weak note. Power, PSU, auto and IT stocks also ended lower. Select bank, capital goods and FMCG stocks posted notable gains.
Maruti Suzuki, ITC, ICICI Bank and L&T ended on a firm note. Tata Power, Grasim, Hindalco, Reliance Infra, M&M, Tata Motors, NTPC, TCS, Sterlite, Tata Steel, DLF, HDFC Bank, SBI and Bharti Airtel ended with sharp losses.
Ambuja Cements, Nalco, Unitech, HCL Tech, SAIL, RPower, Tata Comm, Reliance Capital, Suzlon, Siemens, Idea Cellular, Cairn India and GAIL India closed with notable losses.
Midcap and smallcap stocks failed to retain gains. The market breadth was weak at close.
Ambuja Cements (Rs 86.50) is a good buy at declines. The stock is likely to see some weakness in the near term, but one holding the stock can stay invested and buy more at dips. Short term traders can make an exit at Rs 100 - 105 levels and get back into the counter later at declines.
The market will be looking for global cues this week. With the U.S. Federal Reserve to meet and come out with its outlook on interest rates, the market is sure to get some direction this week.
The expiry of June series derivatives will also have a say in the market's direction. A moderate to high degree of volatility is in the offing. Investors looking for fresh exposure would do well to stay at the sidelines for now.
One can go in for bank stocks for decent gains over a short to medium term. Low priced stocks such as Syndicate Bank, UCO Bank, Central Bank of India, Dena Bank and Andhra Bank can be bought for solid gains.
Among the big ones, SBI and HDFC Bank can give fairly good returns over a 6 - 9 month period.
BHEL (Rs 2093) may see some weakness in the near term. But one can hold the stock with a stop loss near Rs 1950 for now. In the event of the stock breaching a support at that level, a fall to Rs 1800 or even lower is not ruled out. Still, one willing to wait long term can use such a dip to increas exposure to the counter.
It is widely speculated in the market circles that Neyveli Lignite Corporation could be one of the candidates on the government's disinvestment list. The stock, currently traded at Rs 120, is a good one for long term. One can go in for it at sharp declines.
Reliance Communications is reported to have started preliminary talks with China Mobile, the world's largest mobile company, for a strategic alliance and possible equity participation of 5 to 6 per cent. The stock is trading at Rs 302, down by around a per cent. Investors holding the stock with a long term plan can continue to stay invested and increase exposure at dips.
Parsvnath Developers has announced that its shareholders have approved raising up to Rs 2,500 crore through issue of securities and to increase the foreign investment limit in the company by up to 40 per cent. The stock, traded at Rs 83, can be tried at declines for long term.
One can go in for Bhart Airtel (Rs 801) at sharp declines. Though the stock is likely to see some downside in the near run, its long term prospect continue to remain bright. One would do well to pick up the stock in a phased manner.
Infrastructure stocks GMR Infra, Gammon, PBA Infrastructure, RIIL and IVRCL Infrastructure may see some weak spells in the near run. however, investors looking at long term can treat sharp dips as opportunities to buy these stocks.
Reliance Industries (cmp Rs 1996) can be picked up in a staggered manner at declines. Long term investors can stay invested in the stock and look to buy more around Rs 1850- 1875 levels. Short term traders can use rallies to book profits and buy back later at declines.
Patni Computer Systems (Rs 258) can move up to Rs 280 or even higher if it manages to break a resistance near Rs 265. One holding the stock with a long term view can stay invested with a trailing stop loss. Short term traders can exit around Rs 280 and re-enter later at declines. For now, a stop loss can be placed near Rs 220.
Jindal Saw has bagged orders worth over Rs 1,000 crore for supply of large diameter pipes and ductile iron pipes for domestic and export markets. The domeistic supply orders are from GAIL and HPCL while the export orders are primarily from middle-easter market. The total order book of JSL now stands at around Rs 3,600 crore. The Jindal Saw stock is up by as much as 4.55% at Rs 382.40 at present.
Dolphin Offshore Enterprises India Ltd has informed that the company has received an LOI for Structural Modification work at unmanned platforms in MH for deployment of Modular rig on turn key basis by M/s. Instrumentation Ltd. The value of the said LOI is around Rs 106 crore and the completion date of this contract, which will commence shortly, is May 28, 2011.
McNally Bharat Engineering Company Ltd has received an order from Paradip Port Trust for Design, Manufacture, Supply, Installation and Commissioning of two 3000 TPH capacity Reclaimers at Paradip, in Jagatsinghpur district, Orissa. The value of the order is estimated to be around Rs 30.60 crore including taxes and duties.
ABB Limited has won orders worth worth Rs 550 million to provide the electrical infrastructure for modernization of Kolkatta airport.
The ABB stock is up 1.5% at Rs 752.25 at present. The stock, after opening at Rs 750, rose to Rs 766.85 earlier this morning.
Market Outlook
The market is likely to open on a cautiously positive note this morning. Short-covering ahead of derivatives expiry and bargain hunting after some severe setbacks suffered in the previous week may buoy up prices of a few front line stocks. Some volatility is in the offing.
Sector Watch
Technology stocks are likely to attract attention. Some battered down metals and realty stocks are expected to bounce back. Bank stocks may edge higher. FMCG and pharma sectors will see stock specific action.
Scrip Watch
Neyveli Lignite Corporation Limited has posted a net profit of Rs 8210.90 million for the year ended March 31, 2009 as compared to Rs 11015.70 million for the year ended March 31, 2008. Total Income has increased from Rs 36380.70 million for the year ended March 31, 2008 to Rs 40198.90 million for the year ended March 31, 2009.
SBI may edge higher with the bank's board approving the acquisition of State Bank of Indore. State Bank of India has already absorbed State Bank of Saurashtra and has said it is progressively looking to merge its other associate banks as well.
DLF is likely to be in focus on reports that the company is close to raising $300 million through external commercial borrowing to invest in its integrated township projects.
Oil stocks will be in focus on reports that the oil ministry is examining a proposal to force oil and gas producers to pay royalties to the government on the basis of sale prices rather than the present system of wellhead value. ONGC, Cairn India and RIL are likely to be affected by the move.
Sun Pharmaceutical Industries is likely to see action following the company getting the US FDA nod to launch generic version of Pfizer's blood pressure drug Accupril. The drug has annual sales of about $45 million in the United States.
Macro and Market Factors
The Wall Street ended on a mixed note on Friday last week after a lackluster session. Asian markets are exhibiting a steady trend today and this is likely to prompt a positive start on the Indian bourses this morning.
Friday, June 19, 2009
Closing bell 18 Jun 2009
Closing bell 18 Jun 2009
Persistent selling activity during the second half of today’s trading session led the Indian markets into the negative territory, where they continued to languish for the rest of the trading session. The BSE-Sensex ended the day lower by about 260 points, while the NSE-Nifty closed lower by about 105 points. Stocks from the mid-cap and small-cap spaces too ended the day on a negative note, recording losses of 2.9% and 3.7% respectively. Barring stocks from the IT sector, selling activity was witnessed in stocks across the board led by realty, power and metals.
Most other Asian markets ended the day in the red today. The European indices are currently trading mixed. Rupee was trading at 48.25 against the US dollar at the time of writing.
Fresh deals struck by Indian IT companies in the recent past are a testimony to their eminent position in the global outsourcing arena. As per a leading daily, Infosys has bagged a US$ 10 m worth BPO project from Microsoft. As per the deal, it will provide back-end support activities like data processing to the software giant for three years. In another deal, the European telecom major Alcatel-Lucent too is all set to award an over US$ 15 m worth back-end support project to Infosys BPO. All such deals reinforcing the need for Indian IT/ITES oriented services at a global level suggest that any sort of protectionist measures may not do significant harm to the industry.
Trent Ltd. announced results yesterday. The company reported flat sales on a standalone basis during FY09, while on a consolidated basis revenues were higher by 18% YoY. The slowing economic growth impacted the lifestyle retailing business of the company. The increased cost of operations dented the company’s operating margins. Compared to a 63% YoY decrease in operating profits, the decline in bottomline was lower at 19% YoY. Higher other income and lower taxes helped restrict the fall in net profits. On a consolidated basis, net profits were down by 97% YoY. Apart from the gloomy environment, the profits were also lower on account of its Hypermarket business still being in its incubation period. The company opened 8 Westside stores, two Sisley stores and one Fashion Yatra store during the fourth quarter taking the total number of Westside stores to 36 and the total number of stores under various formats to 42. The company recommended a dividend of Rs 5.5 per share, which translates into dividend yield of 1.1% at the current price.
Inflation dropped into negative territory and stood at -1.6% (deflation) during the first week of June after an annual inflation of 0.13% in the week before that. This may be attributed to the high base effect of last year’s prices wherein commodity prices were at their peak. It may be noted that retail inflation as measured by consumer price index (CPI) is still high at around 8%. Inflation hit a 13 year high of 12.9% in August 2008, but has been decelerating steadily since then. Interestingly, this marks the first annual decline in wholesale prices since the government started releasing weekly data in 1977.
Amidst market wide selling, IT stocks are still trading in the green, led by Infosys and TCS. As per a leading daily, India’s largest IT company, TCS is foraying into the e-governance arena in order to combat the global meltdown. The company sees increased momentum for more e-governance projects, both at state and central level, as these are important for improving the government’s efficiency in delivering services. The company is already working on e-Passport scheme for the ministry of external affairs and is targeting more such areas. Other leading IT players like Infosys and Wipro are also eyeing a share of this pie.
Aluminium stocks are trading weak led by Hindalco and Nalco. As per a leading business daily, Hindalco Industries is close to acquiring coal mine assets in Australia and the deal size is estimated between Rs 3.4 to Rs 3.9 bn. It is believed that the company has already shortlisted one mine with coal reserves of around 120 m tonnes (MT). It may be noted that of late Hindalco has been scouting for acquiring coal mines down under as the commodity prices have corrected by about 50% as compared to six months back, making it the right time for acquiring resources. The proposed coal reserves will help Hindalco meets its capacity augmentation plans in Orissa. The company plans to increase its aluminium refinery capacity to 1.5 MT from 1 MT and the smelter capacity from 26 MT to 72 MT.
The Indian markets continued to gain ground during the previous two hours of trade on the back of continued buying among the index heavyweights. Currently, stocks from the software, banking and auto sectors are leading the pack of gainers, while select metal and cement stocks are trading weak. The overall decline to advance ratio is poised at 2.5 to 1 on the BSE.
The BSE Sensex is trading higher by around 70 points, while the NSE Nifty is trading weak, down by around 15 points. The BSE Midcap and the BSE Smallcap indices are trading lower, down by around 0.7% and 1.3% respectively. The rupee is trading at 48.09 to the dollar.
As per a leading business daily, following on the heels of the country’s largest lender SBI, HDFC and HDFC Bank are set to reduce their deposit rates by up to 25 basis points (0.25%). While the rates of HDFC will be effective today, the new rates for HDFC Bank will be applicable from June 19. With respect to the lending rate, HDFC usually lowers the rates when its sees decline in trend of the costs of funds. Further, HDFC will keep a close watch on the Union Budget to find a clear trend on the interest rate movement and take decision on the rate accordingly. Even after lowering the deposit rates, HDFC still offers higher returns to depositors with a gap of around 0.5% compared with that of SBI. On the other hand, HDFC Bank has cut the rates as there has been a downward bias in the bulk deposit rates on account of enough liquidity in the market. This move will help both the institution and the bank augment their net margins. Banking stocks are currently trading mixed.
Pharma stocks are also trading mixed. While Dr. Reddy’s and Ranbaxy are trading higher, Glenmark Pharma is in the red. As per a leading business daily, the skincare drug major, Medicis has filed a lawsuit against Ranbaxy as it believes that the latter’s Para IV filing has infringed its patent for its branded drug ‘Solodyne’. According to the drug tracking agency IMS, the sales of ‘Solodyne’ were around US$ 365 m during CY08 in the US. ‘Solodyne’ accounts for 50% revenues of Medicis. Such litigation is common in the US as the drug innovator has to sue the generic company, which has filed the Para IV ANDA, within 45 days of intimation. If Ranbaxy wins the litigation it will get 180 days marketing exclusivity for the drug.
With some amount of volatility, the Indian markets have opened the day’s proceedings on a cautious note. Buying activity is being witnessed among banking, pharma, metal and telecom stocks. However, select software, engineering and power stocks are trading in the red. The overall decline to advance ratio is poised at of 1.08 to 1 on the NSE. As regards global markets, the NASDAQ ended positive yesterday led by a tech rally. However, the broader market ended lower after Standard & Poor's cut its outlook on 22 banks. The European markets ended weak yesterday. The Asian markets are trading mixed.
The BSE Sensex is trading lower by around 25 points. The NSE Nifty is up 5 points. Both the BSE Midcap and BSE Smallcap index are trading flat. The rupee is trading at 47.05 to the dollar.
Titan Industries has set a goal of crossing US$ 1 bn in revenues during FY10. The company expects around 65% of the targeted revenues to come from gold ornaments. The company is one of the premier players in India's Rs 800 bn jewellery market. Semi-urban and rural areas account for nearly 60% of the total market. Titan sells jewellery through its GoldPlus and Tanishq retail chains. While GoldPlus addresses the rural and semi-urban mass market and focuses on plain gold jewellery, Tanishq focuses on the metros. The company expects GoldPlus to genearte Rs 20 bn of revenues over the next four-five years. The jewellery segment grew by 36% YoY during FY09, contributing around 72% to the revenues. The jewellery sector in India has grown at a compounded annual rate (CAGR) of approximately 16% over the past three years. As against that, the organised jewellery sector has showcased over 30% CAGR during the same period. On account of jewellery retailing in India undergoing a slow transformation from a largely unorganised sector to a more organised one, the company expects good growth. Retail stocks are trading firm.
Pharma major, Wockhardt has sold its German business Esparma to Mova GmbH. Mova is a subsidiary of Germany's Lindopharm GmbH. Wockhardt had acquired Esparma business in May 2004 for around US$ 11 m. Although the company has not disclosed the size of the deal, the deal size has been pegged at Rs 1.2 bn. The company is also planning to sell its animal healthcare business, of which Pfizer is reported to be one of the interested parties. The move is part of Wockhardt’s plan to restructure its business. The company is having debt of around Rs 34 bn on its books and has sought corporate debt restructuring to tackle the situation. It is also looking to divest its stake in non-core businesses to raise money to repay the debt. Pharma stocks have opened the day’s proceedings on a positive note.
That Dr Doom aka Nouriel Roubini is not seeing any 'green shoots' (a metaphor used to describe initial signs of economic recovery) has been largely publicized in the media in the past few weeks. However, for the first time in many months, he has expressed his views on the Indian economy and its stock market and sadly, it does not make for a very good reading. Speaking to leading business daily, Roubini was of the opinion that the Indian stock markets along with other emerging market equities may have run up too soon too fast and there is a potential asset bubble building here. Although he agrees that part of the reason the stocks have rallied is because of better fundamentals in these markets, but he also remains concerned about the easy-money situation which is pushing up asset prices sharply.
Roubini also proffered his views on whether inflation because of money printing by most governments or a deflation because of rising unemployment and lower consumer spending is staring us in the face. He opined that while in the near term, the global economy will be gripped by a deflationary spiral, eventually all the money printing by the government will go into goods inflation, leading to runaway inflation. Hence, in the longer term, it will be the inflation that will act as dampener while the global economic growth will be beset with problems of deflation in the near term. Going by the man's track record, we better take his comments seriously.
Obamaspeak hits US banking stocks
Following the sell-off seen in the US markets yesterday, the Asian markets have opened today on a weak note, with most benchmark indices trading down in a range of 1-2%. This adds to the decline that was seen in these markets yesterday on the back of decline in commodity stocks. Today, the culprits seem to be banking and financial stocks given that in the US yesterday, President Obama proposed sweeping new 'rules of the road' for the country's financial system to bring it to task.
Obama has in fact blamed the financial crisis on a culture of irresponsibility that had taken root from Wall Street to Washington to Main Street. The new regulations outlined by Obama's team are likely to give new powers to the US central bank and the Federal Reserve to oversee the country's banking and financial system or rather police the entire financial system for risky products.
Infosys believes that the worst is over
The past 18 months have probably been one of the toughest for the Indian IT industry as clients, especially in the North American region, have been cutting down their spending on account of the slowdown.
However, the management of IT major Infosys expects the 'worst to be over'. As per Mr. Gopalakrishnan "Our clients are more confident about the current situation because they believe that we are at the bottom and it's highly unlikely that we see something unforeseen (such as bankruptcies and failures) in the future." As such, the company expects clients to increase spending going forward. He also did add that demand of outsourcing services, however, will take at least a year to recover.
However, the company has stuck to its revenue estimate, which it lowered for the first time ever last year.
Persistent selling activity during the second half of today’s trading session led the Indian markets into the negative territory, where they continued to languish for the rest of the trading session. The BSE-Sensex ended the day lower by about 260 points, while the NSE-Nifty closed lower by about 105 points. Stocks from the mid-cap and small-cap spaces too ended the day on a negative note, recording losses of 2.9% and 3.7% respectively. Barring stocks from the IT sector, selling activity was witnessed in stocks across the board led by realty, power and metals.
Most other Asian markets ended the day in the red today. The European indices are currently trading mixed. Rupee was trading at 48.25 against the US dollar at the time of writing.
Fresh deals struck by Indian IT companies in the recent past are a testimony to their eminent position in the global outsourcing arena. As per a leading daily, Infosys has bagged a US$ 10 m worth BPO project from Microsoft. As per the deal, it will provide back-end support activities like data processing to the software giant for three years. In another deal, the European telecom major Alcatel-Lucent too is all set to award an over US$ 15 m worth back-end support project to Infosys BPO. All such deals reinforcing the need for Indian IT/ITES oriented services at a global level suggest that any sort of protectionist measures may not do significant harm to the industry.
Trent Ltd. announced results yesterday. The company reported flat sales on a standalone basis during FY09, while on a consolidated basis revenues were higher by 18% YoY. The slowing economic growth impacted the lifestyle retailing business of the company. The increased cost of operations dented the company’s operating margins. Compared to a 63% YoY decrease in operating profits, the decline in bottomline was lower at 19% YoY. Higher other income and lower taxes helped restrict the fall in net profits. On a consolidated basis, net profits were down by 97% YoY. Apart from the gloomy environment, the profits were also lower on account of its Hypermarket business still being in its incubation period. The company opened 8 Westside stores, two Sisley stores and one Fashion Yatra store during the fourth quarter taking the total number of Westside stores to 36 and the total number of stores under various formats to 42. The company recommended a dividend of Rs 5.5 per share, which translates into dividend yield of 1.1% at the current price.
Inflation dropped into negative territory and stood at -1.6% (deflation) during the first week of June after an annual inflation of 0.13% in the week before that. This may be attributed to the high base effect of last year’s prices wherein commodity prices were at their peak. It may be noted that retail inflation as measured by consumer price index (CPI) is still high at around 8%. Inflation hit a 13 year high of 12.9% in August 2008, but has been decelerating steadily since then. Interestingly, this marks the first annual decline in wholesale prices since the government started releasing weekly data in 1977.
Amidst market wide selling, IT stocks are still trading in the green, led by Infosys and TCS. As per a leading daily, India’s largest IT company, TCS is foraying into the e-governance arena in order to combat the global meltdown. The company sees increased momentum for more e-governance projects, both at state and central level, as these are important for improving the government’s efficiency in delivering services. The company is already working on e-Passport scheme for the ministry of external affairs and is targeting more such areas. Other leading IT players like Infosys and Wipro are also eyeing a share of this pie.
Aluminium stocks are trading weak led by Hindalco and Nalco. As per a leading business daily, Hindalco Industries is close to acquiring coal mine assets in Australia and the deal size is estimated between Rs 3.4 to Rs 3.9 bn. It is believed that the company has already shortlisted one mine with coal reserves of around 120 m tonnes (MT). It may be noted that of late Hindalco has been scouting for acquiring coal mines down under as the commodity prices have corrected by about 50% as compared to six months back, making it the right time for acquiring resources. The proposed coal reserves will help Hindalco meets its capacity augmentation plans in Orissa. The company plans to increase its aluminium refinery capacity to 1.5 MT from 1 MT and the smelter capacity from 26 MT to 72 MT.
The Indian markets continued to gain ground during the previous two hours of trade on the back of continued buying among the index heavyweights. Currently, stocks from the software, banking and auto sectors are leading the pack of gainers, while select metal and cement stocks are trading weak. The overall decline to advance ratio is poised at 2.5 to 1 on the BSE.
The BSE Sensex is trading higher by around 70 points, while the NSE Nifty is trading weak, down by around 15 points. The BSE Midcap and the BSE Smallcap indices are trading lower, down by around 0.7% and 1.3% respectively. The rupee is trading at 48.09 to the dollar.
As per a leading business daily, following on the heels of the country’s largest lender SBI, HDFC and HDFC Bank are set to reduce their deposit rates by up to 25 basis points (0.25%). While the rates of HDFC will be effective today, the new rates for HDFC Bank will be applicable from June 19. With respect to the lending rate, HDFC usually lowers the rates when its sees decline in trend of the costs of funds. Further, HDFC will keep a close watch on the Union Budget to find a clear trend on the interest rate movement and take decision on the rate accordingly. Even after lowering the deposit rates, HDFC still offers higher returns to depositors with a gap of around 0.5% compared with that of SBI. On the other hand, HDFC Bank has cut the rates as there has been a downward bias in the bulk deposit rates on account of enough liquidity in the market. This move will help both the institution and the bank augment their net margins. Banking stocks are currently trading mixed.
Pharma stocks are also trading mixed. While Dr. Reddy’s and Ranbaxy are trading higher, Glenmark Pharma is in the red. As per a leading business daily, the skincare drug major, Medicis has filed a lawsuit against Ranbaxy as it believes that the latter’s Para IV filing has infringed its patent for its branded drug ‘Solodyne’. According to the drug tracking agency IMS, the sales of ‘Solodyne’ were around US$ 365 m during CY08 in the US. ‘Solodyne’ accounts for 50% revenues of Medicis. Such litigation is common in the US as the drug innovator has to sue the generic company, which has filed the Para IV ANDA, within 45 days of intimation. If Ranbaxy wins the litigation it will get 180 days marketing exclusivity for the drug.
With some amount of volatility, the Indian markets have opened the day’s proceedings on a cautious note. Buying activity is being witnessed among banking, pharma, metal and telecom stocks. However, select software, engineering and power stocks are trading in the red. The overall decline to advance ratio is poised at of 1.08 to 1 on the NSE. As regards global markets, the NASDAQ ended positive yesterday led by a tech rally. However, the broader market ended lower after Standard & Poor's cut its outlook on 22 banks. The European markets ended weak yesterday. The Asian markets are trading mixed.
The BSE Sensex is trading lower by around 25 points. The NSE Nifty is up 5 points. Both the BSE Midcap and BSE Smallcap index are trading flat. The rupee is trading at 47.05 to the dollar.
Titan Industries has set a goal of crossing US$ 1 bn in revenues during FY10. The company expects around 65% of the targeted revenues to come from gold ornaments. The company is one of the premier players in India's Rs 800 bn jewellery market. Semi-urban and rural areas account for nearly 60% of the total market. Titan sells jewellery through its GoldPlus and Tanishq retail chains. While GoldPlus addresses the rural and semi-urban mass market and focuses on plain gold jewellery, Tanishq focuses on the metros. The company expects GoldPlus to genearte Rs 20 bn of revenues over the next four-five years. The jewellery segment grew by 36% YoY during FY09, contributing around 72% to the revenues. The jewellery sector in India has grown at a compounded annual rate (CAGR) of approximately 16% over the past three years. As against that, the organised jewellery sector has showcased over 30% CAGR during the same period. On account of jewellery retailing in India undergoing a slow transformation from a largely unorganised sector to a more organised one, the company expects good growth. Retail stocks are trading firm.
Pharma major, Wockhardt has sold its German business Esparma to Mova GmbH. Mova is a subsidiary of Germany's Lindopharm GmbH. Wockhardt had acquired Esparma business in May 2004 for around US$ 11 m. Although the company has not disclosed the size of the deal, the deal size has been pegged at Rs 1.2 bn. The company is also planning to sell its animal healthcare business, of which Pfizer is reported to be one of the interested parties. The move is part of Wockhardt’s plan to restructure its business. The company is having debt of around Rs 34 bn on its books and has sought corporate debt restructuring to tackle the situation. It is also looking to divest its stake in non-core businesses to raise money to repay the debt. Pharma stocks have opened the day’s proceedings on a positive note.
That Dr Doom aka Nouriel Roubini is not seeing any 'green shoots' (a metaphor used to describe initial signs of economic recovery) has been largely publicized in the media in the past few weeks. However, for the first time in many months, he has expressed his views on the Indian economy and its stock market and sadly, it does not make for a very good reading. Speaking to leading business daily, Roubini was of the opinion that the Indian stock markets along with other emerging market equities may have run up too soon too fast and there is a potential asset bubble building here. Although he agrees that part of the reason the stocks have rallied is because of better fundamentals in these markets, but he also remains concerned about the easy-money situation which is pushing up asset prices sharply.
Roubini also proffered his views on whether inflation because of money printing by most governments or a deflation because of rising unemployment and lower consumer spending is staring us in the face. He opined that while in the near term, the global economy will be gripped by a deflationary spiral, eventually all the money printing by the government will go into goods inflation, leading to runaway inflation. Hence, in the longer term, it will be the inflation that will act as dampener while the global economic growth will be beset with problems of deflation in the near term. Going by the man's track record, we better take his comments seriously.
Obamaspeak hits US banking stocks
Following the sell-off seen in the US markets yesterday, the Asian markets have opened today on a weak note, with most benchmark indices trading down in a range of 1-2%. This adds to the decline that was seen in these markets yesterday on the back of decline in commodity stocks. Today, the culprits seem to be banking and financial stocks given that in the US yesterday, President Obama proposed sweeping new 'rules of the road' for the country's financial system to bring it to task.
Obama has in fact blamed the financial crisis on a culture of irresponsibility that had taken root from Wall Street to Washington to Main Street. The new regulations outlined by Obama's team are likely to give new powers to the US central bank and the Federal Reserve to oversee the country's banking and financial system or rather police the entire financial system for risky products.
Infosys believes that the worst is over
The past 18 months have probably been one of the toughest for the Indian IT industry as clients, especially in the North American region, have been cutting down their spending on account of the slowdown.
However, the management of IT major Infosys expects the 'worst to be over'. As per Mr. Gopalakrishnan "Our clients are more confident about the current situation because they believe that we are at the bottom and it's highly unlikely that we see something unforeseen (such as bankruptcies and failures) in the future." As such, the company expects clients to increase spending going forward. He also did add that demand of outsourcing services, however, will take at least a year to recover.
However, the company has stuck to its revenue estimate, which it lowered for the first time ever last year.
Market Voices 18 June 2009
Market Voices 18 June 2009
With the bears going on a rampage once again, the market ended with big losses for the second successive session today. Weakness in Asian and European markets amid fresh concerns about global economy weighed in once more and took the wind out of several front line stocks.
Realty and metal stocks were among the worst hit. Cement stocks too suffered heavy losses. Power, capital goods and oil stocks declined sharply. IT and pharma stocks outperformed. Midcap and smallcap stocks were battered once again. The market breadth was very weak.
ACC, JP Associates, Tata Steel, Hindalco, Grasim, NTPC, ONGC and Reliance Infra lost 4% - 8.25%. L&T, DLF, RComm, BHEL, ICICI Bank, Ranbaxy, Sterlite, Maruti, HDFC Bank and RIL also ended with sharp losses. SBI, Sun Pharma, Tata Motors and Infosys bucked the trend and closed on a firm note.
The market is likely to see some heavy buying early next week as traders are likely to indulge in hectic short-covering ahead of derivatives expiry.
But movements are likely to remain extremely volatile during that period and hence traders with a very low appetite for risk would do well to stay away at the sidelines. Those running in profits can use sharp rallies to lighten commitments.
Tata Consultancy Services has opened a deliver center in Queretaro.
With the opening of this center, TCS has expanded its presence in Mexico with the Global Delivery Center Opening in Queretaro. The company expects to hire 500 professionals during the current fiscal for its new center.
LIC Housing Finance (Rs 586) is likely to see some profit taking.
The stock, which was down at Rs 150 in early December 2008, has come a long way since then on good results and on hopes of a surge in demand for home loands. One holding the stock with a long term view can stay invested and buy more at sharp dips. Short term traders running in profits can exit the counter at rallies and re-enter later at declines.
IDBI Bank (Rs 107) can be tried for some modest returns over a short run. Those holding the stock can stay invested with a stop loss around Rs 85. A modest exposure can be tried now. More stocks can be added at declines.
Four Soft has announced that Polar Speed Distribution (UK) has selected 4S eLog to optimize its management of their temperature controlled, pharmaceutical distribution warehouses throughout the UK. The contract will be serviced through Four Soft UK., the firm's UK subsidiary. Four Soft is trading at Rs 20.25, up by around 2.25%. One can stay invested at the counter.
Realty stocks have taken a severe beating again. More selling is not ruled out in the near run. Those looking for fresh exposure in this space can wait for now and buy small quantities at sharp dips.
Bajaj Hindustan (Rs 198) can rise to Rs 218 or slightly higher. One can book some profits there as the stock is likely to face some resistance around that level. A re-entry can be made later at declines.
ABB (Rs 749) is a good stock for long term. However, one can refrain from taking fresh exposure for now. The stock can be picked up at declines. A rise to Rs 950 or even higher looks likely over the next one year.
One can pick up infrastructure stocks IVRCL Infra, PBA Infrastructure, Gammon, Reliance Industrial Infrastructure and GMR Infra at sharp declines. Though they are likely to prove highly slippery in the near run, a modest upmove looks likely in all these stocks over the next 12 - 18 months.
Tata Motors can be tried for intra-day. The stock, currently traded at Rs 325, can move to Rs 335 or even higher if it recovers to Rs 330 and sustains there for a while. Investors holding the stock with a long term view can stay invested.
One holding Educomp Solutions (cmp Rs 2986) with a long term view can stay invested with a stop loss near Rs 2300 for now. Small quantities can be picked up at sharp falls from current levels. But one with a low appetite for risk should note that this stock is likely to move in a fairly volatile manner.
Deep Industries Ltd has obtained Notification of Award from ONGC, Rajahmundry Asset for Charter Hiring one Work Over Rig of 100 Ton capacity aggregating to Contract Value Rs 296.24 Lacs. The stock is currently down by 2.4% at Rs 135.30. Earlier, on March 6 this year, the stock had tumbled to Rs 28.25, a 52-week low. It had touched Rs 157.95 in mid August 2008.
M&M has BSE that Mahindra Holidays and Resorts India Limited is entering the Capital Market with an Initial Public Offering of 92,65,275 Equity Shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The Bid/Issue opens on June 23, 2009 and closes on June 26, 2009. MHRIL has filed a Red Herring Prospectus with the Registrar of Companies. The issue would constitute 11.0% of the fully diluted post-issue paid-up capital of MHRIL.
One can stay invested in Infosys Technologies, Wipro and TCS and pick up more of them at sharp falls. There may not be a significant and sustained upmove in the near run but these stocks are among the sure winners in the long run.
Infosys Technologies has reportedly received a $10 million three-year BPO deal from Microsoft for back-end support. The IT bellwether rose to Rs 1735 on BSE this morning. The stock, despite having eased to Rs 1722 now, remains in the positive territory with a sharp gain of 0.75%.
Reliance Infra, Ranbaxy and SBI have surged higher. ACC, HDFC, HDFC Bank, Grasim, L&T, BHEL and Maruti Suzuki are down with sharp losses.
Market Outlook
The market is likely to open on a listless note amid mixed global cues. After three days of big losses, the bulls are likely to come back fairly charged up. The expiry of June series derivatives contracts is just a few sessions away and this is likely to trigger some short-covering in a host of front line stocks.
Sector Watch
Airlines stocks are likely to be in focus with most of the players in the sector deciding to hike fares by 8% - 10% from next week. Some severely battered bank and realty stocks are likely to find support. Metals are likely to remain sluggish. Information technology stocks may track overnight gains of the Nasdaq and regain some lost ground.
Scrip Watch
Wockhardt may see action following the company selling its German subsidiary Esparma to another German company, Lindopharm GmbH, a move that is in line with its plan to divest non-core businesses. Mova GmbH, a subsidiary of Lindopharm GmbH, has bought Esparma for around Rs 120 crore.
Hindalco Industries is likely to be in focus. The company is close to acquiring a coal mine in Queensland, Australia, in a deal estimated at US$ 70-80 million. The flagship of the Aditya Birla group, which has been scouting for coal mines in Queensland for some time, is learnt to have short listed one mine in the region with reserves of around 120 million tons.
Fortis Healthcare is likely to attract attention on reports that the company has emerged as the lead bidder to acquire a part of Wockhardt Hospitals. Fortis became the front-runner after the Chennai-based Apollo Hospitals Group retracted its plans to buy three of the 12 hospitals owned by Wockhardt Chairman Habil Khorakiwala and family. It is reported that the deal with Fortis, either for buying two-three hospitals or picking up a minority stake of about 25 per cent, may happen within three-four weeks. However, Fortis is more interested in an outright purchase of the hospitals, which include Wockhardt’s leading hospitals in Bangalore and Mumbai, as this would add to its stand-alone assets.
VST Tillers Tractors Ltd has informed that a meeting of the Board of Directors of the Company will be held on June 26, 2009, to consider the Audited Financial Results for the year ending March 31, 2009 and to consider a bonus issue.
Reliance Industries is likely to be in focus following the petroleum ministry directing the company to make additional allocation of natural gas from its Krishna-Godavari basin find to nine power companies from the surplus available because of no or low off-take by fertiliser units.
Macro and Market Factors
Amid mixed economic data, the Wall Street closed on a flat note yesterday. Asian markets are trading mixed today. Thus, global cues are not any positive for the market this morning. Institutional investors, believed to have sold heavily over the past few days, may look at buying again at declines and this may help halt the slide.
With the bears going on a rampage once again, the market ended with big losses for the second successive session today. Weakness in Asian and European markets amid fresh concerns about global economy weighed in once more and took the wind out of several front line stocks.
Realty and metal stocks were among the worst hit. Cement stocks too suffered heavy losses. Power, capital goods and oil stocks declined sharply. IT and pharma stocks outperformed. Midcap and smallcap stocks were battered once again. The market breadth was very weak.
ACC, JP Associates, Tata Steel, Hindalco, Grasim, NTPC, ONGC and Reliance Infra lost 4% - 8.25%. L&T, DLF, RComm, BHEL, ICICI Bank, Ranbaxy, Sterlite, Maruti, HDFC Bank and RIL also ended with sharp losses. SBI, Sun Pharma, Tata Motors and Infosys bucked the trend and closed on a firm note.
The market is likely to see some heavy buying early next week as traders are likely to indulge in hectic short-covering ahead of derivatives expiry.
But movements are likely to remain extremely volatile during that period and hence traders with a very low appetite for risk would do well to stay away at the sidelines. Those running in profits can use sharp rallies to lighten commitments.
Tata Consultancy Services has opened a deliver center in Queretaro.
With the opening of this center, TCS has expanded its presence in Mexico with the Global Delivery Center Opening in Queretaro. The company expects to hire 500 professionals during the current fiscal for its new center.
LIC Housing Finance (Rs 586) is likely to see some profit taking.
The stock, which was down at Rs 150 in early December 2008, has come a long way since then on good results and on hopes of a surge in demand for home loands. One holding the stock with a long term view can stay invested and buy more at sharp dips. Short term traders running in profits can exit the counter at rallies and re-enter later at declines.
IDBI Bank (Rs 107) can be tried for some modest returns over a short run. Those holding the stock can stay invested with a stop loss around Rs 85. A modest exposure can be tried now. More stocks can be added at declines.
Four Soft has announced that Polar Speed Distribution (UK) has selected 4S eLog to optimize its management of their temperature controlled, pharmaceutical distribution warehouses throughout the UK. The contract will be serviced through Four Soft UK., the firm's UK subsidiary. Four Soft is trading at Rs 20.25, up by around 2.25%. One can stay invested at the counter.
Realty stocks have taken a severe beating again. More selling is not ruled out in the near run. Those looking for fresh exposure in this space can wait for now and buy small quantities at sharp dips.
Bajaj Hindustan (Rs 198) can rise to Rs 218 or slightly higher. One can book some profits there as the stock is likely to face some resistance around that level. A re-entry can be made later at declines.
ABB (Rs 749) is a good stock for long term. However, one can refrain from taking fresh exposure for now. The stock can be picked up at declines. A rise to Rs 950 or even higher looks likely over the next one year.
One can pick up infrastructure stocks IVRCL Infra, PBA Infrastructure, Gammon, Reliance Industrial Infrastructure and GMR Infra at sharp declines. Though they are likely to prove highly slippery in the near run, a modest upmove looks likely in all these stocks over the next 12 - 18 months.
Tata Motors can be tried for intra-day. The stock, currently traded at Rs 325, can move to Rs 335 or even higher if it recovers to Rs 330 and sustains there for a while. Investors holding the stock with a long term view can stay invested.
One holding Educomp Solutions (cmp Rs 2986) with a long term view can stay invested with a stop loss near Rs 2300 for now. Small quantities can be picked up at sharp falls from current levels. But one with a low appetite for risk should note that this stock is likely to move in a fairly volatile manner.
Deep Industries Ltd has obtained Notification of Award from ONGC, Rajahmundry Asset for Charter Hiring one Work Over Rig of 100 Ton capacity aggregating to Contract Value Rs 296.24 Lacs. The stock is currently down by 2.4% at Rs 135.30. Earlier, on March 6 this year, the stock had tumbled to Rs 28.25, a 52-week low. It had touched Rs 157.95 in mid August 2008.
M&M has BSE that Mahindra Holidays and Resorts India Limited is entering the Capital Market with an Initial Public Offering of 92,65,275 Equity Shares of Rs 10 each for cash at a price to be decided through a 100% book-building process. The Bid/Issue opens on June 23, 2009 and closes on June 26, 2009. MHRIL has filed a Red Herring Prospectus with the Registrar of Companies. The issue would constitute 11.0% of the fully diluted post-issue paid-up capital of MHRIL.
One can stay invested in Infosys Technologies, Wipro and TCS and pick up more of them at sharp falls. There may not be a significant and sustained upmove in the near run but these stocks are among the sure winners in the long run.
Infosys Technologies has reportedly received a $10 million three-year BPO deal from Microsoft for back-end support. The IT bellwether rose to Rs 1735 on BSE this morning. The stock, despite having eased to Rs 1722 now, remains in the positive territory with a sharp gain of 0.75%.
Reliance Infra, Ranbaxy and SBI have surged higher. ACC, HDFC, HDFC Bank, Grasim, L&T, BHEL and Maruti Suzuki are down with sharp losses.
Market Outlook
The market is likely to open on a listless note amid mixed global cues. After three days of big losses, the bulls are likely to come back fairly charged up. The expiry of June series derivatives contracts is just a few sessions away and this is likely to trigger some short-covering in a host of front line stocks.
Sector Watch
Airlines stocks are likely to be in focus with most of the players in the sector deciding to hike fares by 8% - 10% from next week. Some severely battered bank and realty stocks are likely to find support. Metals are likely to remain sluggish. Information technology stocks may track overnight gains of the Nasdaq and regain some lost ground.
Scrip Watch
Wockhardt may see action following the company selling its German subsidiary Esparma to another German company, Lindopharm GmbH, a move that is in line with its plan to divest non-core businesses. Mova GmbH, a subsidiary of Lindopharm GmbH, has bought Esparma for around Rs 120 crore.
Hindalco Industries is likely to be in focus. The company is close to acquiring a coal mine in Queensland, Australia, in a deal estimated at US$ 70-80 million. The flagship of the Aditya Birla group, which has been scouting for coal mines in Queensland for some time, is learnt to have short listed one mine in the region with reserves of around 120 million tons.
Fortis Healthcare is likely to attract attention on reports that the company has emerged as the lead bidder to acquire a part of Wockhardt Hospitals. Fortis became the front-runner after the Chennai-based Apollo Hospitals Group retracted its plans to buy three of the 12 hospitals owned by Wockhardt Chairman Habil Khorakiwala and family. It is reported that the deal with Fortis, either for buying two-three hospitals or picking up a minority stake of about 25 per cent, may happen within three-four weeks. However, Fortis is more interested in an outright purchase of the hospitals, which include Wockhardt’s leading hospitals in Bangalore and Mumbai, as this would add to its stand-alone assets.
VST Tillers Tractors Ltd has informed that a meeting of the Board of Directors of the Company will be held on June 26, 2009, to consider the Audited Financial Results for the year ending March 31, 2009 and to consider a bonus issue.
Reliance Industries is likely to be in focus following the petroleum ministry directing the company to make additional allocation of natural gas from its Krishna-Godavari basin find to nine power companies from the surplus available because of no or low off-take by fertiliser units.
Macro and Market Factors
Amid mixed economic data, the Wall Street closed on a flat note yesterday. Asian markets are trading mixed today. Thus, global cues are not any positive for the market this morning. Institutional investors, believed to have sold heavily over the past few days, may look at buying again at declines and this may help halt the slide.
Brokerage Recommendations 18th June 2009
Sell India Cements with a target of Rs 137-132 and stop loss of Rs 147, says Tejas Nandu of Unicorn Investments, on CNBC Awaaz. The stock is currently trading at Rs 140, down 5.67% on the BSE.
Buy Balrampur Chini with a target of Rs 120-130, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 103, up 3% on the BSE. He advises buying select telecom, sugar and banking stocks on dips.
Buy Satyam around Rs 60-70 for a target of Rs 90-100 in 6 months where one can exit the stock, says Deven Choksey of KR Choksey, on Zee Business. The stock is currently trading at Rs 78, up 2% on the BSE.
It was another rough session for our market that closed weak. Sensex closed at 14290, down 232 points (provisional) and Nifty at 4265, down 90 points (provisional) from the previous close. CNX Midcap index was down 2.04% and BSE Smallcap index was down 3.45%. There was selling in realty, metal and power stocks. The market breadth was negative with advances at 192 against declines of 1063 on the NSE.
Sell JP Associates with a target of Rs 175 and stop loss of Rs 200, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Sell Reliance Capital with a target of Rs 850 and stop loss of Rs 900, says Nishant Jain, technical analyst, on CNBC Awaaz, as closing market strategy.
Sell Ambuja Cements with a target of Rs 90 and stop loss of Rs 85, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Credit Suisse maintains buy call and outperform in Hero Honda with a target of Rs 1527, reports NDTV Profit. The stock is currently trading at Rs 1449, up 3.17% on the BSE.
BNP maintains a buy call on Marico with a target of Rs 89, reports CNBC Awaaz. The stock is currently trading at Rs 70, up 1.45% on the BSE.
Buy RNRL with a target of Rs 98-101 and stop loss of Rs 93, says Tejas Nandu of Unicorn Investments, on CNBC Awaaz. The stock is currently trading at Rs 90, down 4.67% on the BSE.
In the banking space, accumulate PNB and SBI in the portfolio for long-term gains, says P Subramanium of Venture Securities, on CNBC Awaaz. He is bullish on the cement and power space for the long term.
Bonanza Portfolio maintains a sell call on Sterlite Industries with a target of Rs 586 and stop loss of Rs 613, reports CNBC Awaaz. The stock is currently trading at Rs 590, down 2.11% on the BSE.
In the steel sector, accumulate Tata Steel, JSW Steel and Welspun Gujarat in the portfolio for long-term gains as they have excellent fundamentals, says Rajesh Tambe, market expert, on Zee Business.
Buy Balrampur Chini with target of Rs 135-140, says Ashwani Gujral, technical analyst, on CNBC TV18. It has good support at Rs 90, he adds. The stock is currently trading at Rs 100, down 0.60% on the BSE.
Nifty has strong support at 4100 and resistance at 4500, says Krishna Kumar Karva of Emkay Shares and Securities, on CNBC TV18. Nifty needs to consolidate further, he feels. Global correction is also putting pressure on our markets, he adds. Investors are being cautious ahead of the budget and taking some profits off the table, he says.
Hold Axis Bank with targets of Rs 750, 770 and then 805, says Vasudeo Kamlakant, technical analyst, on NDTV Profit. Keep stop loss of Rs 685, he adds. The stock is currently trading at Rs 740, up 2.7% on the BSE.
Hold Balrampur Chini with medium-term target of Rs 150, says PK Agarwal of Purpleline Investment on Zee Business. Keep stop loss of Rs 80, he adds. The stock is currently trading at Rs 102.70, up 2.1% on the BSE.
Buy PNB at Rs 550-575 with short-term target of 15%, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. Long-term investors can keep stop loss of Rs 500 with target of 35%, he adds. The stock is currently trading at Rs 636.25, up 3.6% on the BSE.
Buy Bajaj Hindustan at Rs 195-200 with target of Rs 235-240, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 207.20, up 2.4% on the BSE.
The momentum has been weakened by the huge sell-off yesterday and we expect more volatility, says Shashank Khade of Kotak Securities on CNBC TV18. The bias may have turned on the negative side and we would look for more signs of weakness in the coming days, he adds.
Hold Apollo Tyres with targets of Rs 36, 42 and then 52, says Vasudeo Kamlakant, technical analyst, on NDTV Profit. Keep stop loss of Rs 28, he adds. The stock is currently trading at Rs 31.50, down 0.8% on the BSE.
Book profits in Gujarat NRE Coke, says Ganesh Shaanbag of SMS Financials on CNBC Awaaz. The run-up for this stock is now over, he adds. The stock is currently trading at Rs 46.15, down 1.7% on the BSE.
Hold IDFC with medium-to-long term target of Rs 190-200, says PK Agarwal of Purpleline Investment on Zee Business. Fundamentally, it is a sound stock, he adds. The stock is currently trading at Rs 134.50, down 0.7% on the BSE.
Buy Balrampur Chini on dips with target of Rs 120-130, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 102, up 1.4% on the BSE.
Buy Hotel Leela when it comes to Rs 23-24, says Ambareesh Baliga of Karvy Stock Broking on CNBC Awaaz. Hold for long term because it has good potential, he adds. The stock is currently trading at Rs 31, down 6.3% on the BSE.
Hold Satyam with target of Rs 150 in 12-18 months, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 77.25, down 0.2% on the BSE.
Hold MindTree with target of Rs 510-520, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 434.60, up 5.8% on the BSE.
Hold Tata Tea with target of Rs 950, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 745, down 0.2% on the BSE.
Hold Unitech with stop loss of Rs 78, says MB Singh, technical analyst, on Zee Business. It has resistance at Rs 90, he adds. The stock is currently trading at Rs 82, down 2.3% on the BSE.
Buy Satyam on dips at Rs 60-70 with target of Rs 90-100, says Deven Choksey of KR Choksey on CNBC Awaaz. The stock is currently trading at Rs 77, down 0.5% on the BSE.
Hold Essar Oil with stop loss of Rs 145, says MB Singh, technical analyst, on Zee Business. It has resistance at Rs 195, he adds. The stock is currently trading at Rs 158.35, down 0.7% on the BSE.
Buy Spicejet with intra-day target of Rs 24, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 19.50, he adds. The stock is currently trading at Rs 20.90, up 4.8% on the BSE.
Buy 20% of SBI shares at current levels and the rest when it is at Rs 1710, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1688, up 1.5% on the BSE.
Sell Essar Oil with targets of Rs 155, 152 and then 149, says Rajat Bose, technical analyst, on CNBC TV18. Keep stop loss above Rs 167, he adds. The stock is currently trading at Rs 156.50, down 1.8% on the BSE.
Hold Wipro which still has 7-8% upside left in it, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 381.50, up 0.8% on the BSE.
Buy Zandu Pharma with intra-day target of Rs 7600, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 7200, he adds. The stock is currently trading at Rs 7423, up 3.4% on the BSE.
Buy Omaxe with intra-day target of Rs 108, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 101, he adds. The stock is currently trading at Rs 105.50, up 4% on the BSE. » Send to friends
Sell Idea Cellular at Rs 80.85 with target of Rs 77, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 82, she adds. The stock is at Rs 80.60, down 6.8% on the BSE.
Sell Aditya Birla Nuvo at Rs 896 with target of Rs 860, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 910, she adds. The stock is at Rs 898.75, down 5.3% on the BSE.
Buy Balrampur Chini with a target of Rs 120-130, says Rahul Mohindar, technical analyst, on CNBC TV18. The stock is currently trading at Rs 103, up 3% on the BSE. He advises buying select telecom, sugar and banking stocks on dips.
Buy Satyam around Rs 60-70 for a target of Rs 90-100 in 6 months where one can exit the stock, says Deven Choksey of KR Choksey, on Zee Business. The stock is currently trading at Rs 78, up 2% on the BSE.
It was another rough session for our market that closed weak. Sensex closed at 14290, down 232 points (provisional) and Nifty at 4265, down 90 points (provisional) from the previous close. CNX Midcap index was down 2.04% and BSE Smallcap index was down 3.45%. There was selling in realty, metal and power stocks. The market breadth was negative with advances at 192 against declines of 1063 on the NSE.
Sell JP Associates with a target of Rs 175 and stop loss of Rs 200, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Sell Reliance Capital with a target of Rs 850 and stop loss of Rs 900, says Nishant Jain, technical analyst, on CNBC Awaaz, as closing market strategy.
Sell Ambuja Cements with a target of Rs 90 and stop loss of Rs 85, says Prakash Gaba, technical analyst, on CNBC Awaaz, as closing market strategy.
Credit Suisse maintains buy call and outperform in Hero Honda with a target of Rs 1527, reports NDTV Profit. The stock is currently trading at Rs 1449, up 3.17% on the BSE.
BNP maintains a buy call on Marico with a target of Rs 89, reports CNBC Awaaz. The stock is currently trading at Rs 70, up 1.45% on the BSE.
Buy RNRL with a target of Rs 98-101 and stop loss of Rs 93, says Tejas Nandu of Unicorn Investments, on CNBC Awaaz. The stock is currently trading at Rs 90, down 4.67% on the BSE.
In the banking space, accumulate PNB and SBI in the portfolio for long-term gains, says P Subramanium of Venture Securities, on CNBC Awaaz. He is bullish on the cement and power space for the long term.
Bonanza Portfolio maintains a sell call on Sterlite Industries with a target of Rs 586 and stop loss of Rs 613, reports CNBC Awaaz. The stock is currently trading at Rs 590, down 2.11% on the BSE.
In the steel sector, accumulate Tata Steel, JSW Steel and Welspun Gujarat in the portfolio for long-term gains as they have excellent fundamentals, says Rajesh Tambe, market expert, on Zee Business.
Buy Balrampur Chini with target of Rs 135-140, says Ashwani Gujral, technical analyst, on CNBC TV18. It has good support at Rs 90, he adds. The stock is currently trading at Rs 100, down 0.60% on the BSE.
Nifty has strong support at 4100 and resistance at 4500, says Krishna Kumar Karva of Emkay Shares and Securities, on CNBC TV18. Nifty needs to consolidate further, he feels. Global correction is also putting pressure on our markets, he adds. Investors are being cautious ahead of the budget and taking some profits off the table, he says.
Hold Axis Bank with targets of Rs 750, 770 and then 805, says Vasudeo Kamlakant, technical analyst, on NDTV Profit. Keep stop loss of Rs 685, he adds. The stock is currently trading at Rs 740, up 2.7% on the BSE.
Hold Balrampur Chini with medium-term target of Rs 150, says PK Agarwal of Purpleline Investment on Zee Business. Keep stop loss of Rs 80, he adds. The stock is currently trading at Rs 102.70, up 2.1% on the BSE.
Buy PNB at Rs 550-575 with short-term target of 15%, says Raj Kishore Bang of Sixth Sense on CNBC Awaaz. Long-term investors can keep stop loss of Rs 500 with target of 35%, he adds. The stock is currently trading at Rs 636.25, up 3.6% on the BSE.
Buy Bajaj Hindustan at Rs 195-200 with target of Rs 235-240, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 207.20, up 2.4% on the BSE.
The momentum has been weakened by the huge sell-off yesterday and we expect more volatility, says Shashank Khade of Kotak Securities on CNBC TV18. The bias may have turned on the negative side and we would look for more signs of weakness in the coming days, he adds.
Hold Apollo Tyres with targets of Rs 36, 42 and then 52, says Vasudeo Kamlakant, technical analyst, on NDTV Profit. Keep stop loss of Rs 28, he adds. The stock is currently trading at Rs 31.50, down 0.8% on the BSE.
Book profits in Gujarat NRE Coke, says Ganesh Shaanbag of SMS Financials on CNBC Awaaz. The run-up for this stock is now over, he adds. The stock is currently trading at Rs 46.15, down 1.7% on the BSE.
Hold IDFC with medium-to-long term target of Rs 190-200, says PK Agarwal of Purpleline Investment on Zee Business. Fundamentally, it is a sound stock, he adds. The stock is currently trading at Rs 134.50, down 0.7% on the BSE.
Buy Balrampur Chini on dips with target of Rs 120-130, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 102, up 1.4% on the BSE.
Buy Hotel Leela when it comes to Rs 23-24, says Ambareesh Baliga of Karvy Stock Broking on CNBC Awaaz. Hold for long term because it has good potential, he adds. The stock is currently trading at Rs 31, down 6.3% on the BSE.
Hold Satyam with target of Rs 150 in 12-18 months, says MB Singh, technical analyst, on Zee Business. The stock is currently trading at Rs 77.25, down 0.2% on the BSE.
Hold MindTree with target of Rs 510-520, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 434.60, up 5.8% on the BSE.
Hold Tata Tea with target of Rs 950, says Ashwani Gujral, technical analyst, on CNBC TV18. The stock is currently trading at Rs 745, down 0.2% on the BSE.
Hold Unitech with stop loss of Rs 78, says MB Singh, technical analyst, on Zee Business. It has resistance at Rs 90, he adds. The stock is currently trading at Rs 82, down 2.3% on the BSE.
Buy Satyam on dips at Rs 60-70 with target of Rs 90-100, says Deven Choksey of KR Choksey on CNBC Awaaz. The stock is currently trading at Rs 77, down 0.5% on the BSE.
Hold Essar Oil with stop loss of Rs 145, says MB Singh, technical analyst, on Zee Business. It has resistance at Rs 195, he adds. The stock is currently trading at Rs 158.35, down 0.7% on the BSE.
Buy Spicejet with intra-day target of Rs 24, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 19.50, he adds. The stock is currently trading at Rs 20.90, up 4.8% on the BSE.
Buy 20% of SBI shares at current levels and the rest when it is at Rs 1710, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1688, up 1.5% on the BSE.
Sell Essar Oil with targets of Rs 155, 152 and then 149, says Rajat Bose, technical analyst, on CNBC TV18. Keep stop loss above Rs 167, he adds. The stock is currently trading at Rs 156.50, down 1.8% on the BSE.
Hold Wipro which still has 7-8% upside left in it, says Rahul Mohinder, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 381.50, up 0.8% on the BSE.
Buy Zandu Pharma with intra-day target of Rs 7600, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 7200, he adds. The stock is currently trading at Rs 7423, up 3.4% on the BSE.
Buy Omaxe with intra-day target of Rs 108, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 101, he adds. The stock is currently trading at Rs 105.50, up 4% on the BSE. » Send to friends
Sell Idea Cellular at Rs 80.85 with target of Rs 77, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 82, she adds. The stock is at Rs 80.60, down 6.8% on the BSE.
Sell Aditya Birla Nuvo at Rs 896 with target of Rs 860, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 910, she adds. The stock is at Rs 898.75, down 5.3% on the BSE.
Wednesday, June 17, 2009
Closing Bell 17th June 2009
Closing Bell 17th June 2009
Panic set into the markets today as profit booking during the last hour of trade led the indices to fall deep into the red. The BSE-Sensex ended lower by around 430 points (2.9%), while the NSE-Nifty closed around 160 points (3.6%) down. Stocks from the mid-cap and small-cap spaces ended the day weak as well, recording losses of 4.5% and 4.3% respectively. Selling activity was witnessed in stocks across the board today. Realty, metals and oil and gas stocks were severely hit.
Other Asian markets ended the day in a sea of red as well. The European indices are currently trading weak. Rupee was trading at 47.99 against the US dollar at the time of writing.
Commodity stocks were amongst the biggest losers today, with the BSE-Metal Index and BSE-Oil and Gas Index ending lower by 6.1% and 4.4% respectively. In fact, commodity stocks across the world witnessed, or are witnessing, a negative trend given the fears that commodity prices have entered a bubble phase following China massive purchases, not for satisfying the current demand but for stock piling. Indirectly, this would suggest that once the country stops this buying binge, it would be difficult for commodities (like oil and metals) to sustain the recent advance. It may be noted that crude oil prices have already doubled in price since mid-February.
A leading business daily has reported that telecom major, Reliance Communications (RCom) is in talks with French telecom infrastructure provider Alcatel-Lucent to sign a deal worth US$ 500 m (approx Rs 25 bn). This contract would include operations and maintenance of RCom’s GSM and optical fibre cable services. The deal, which is expected to be one of the largest outsourcing deals in the Indian telecom space, will be finalised in a few weeks. The contract is expected to be executed independently by Alcatel-Lucent or by the joint venture between Alcatel-Lucent and RCom, which was formed last year. This is a positive development for the company as it will allow it to enhance its network quality and reduce operational expenditure. It may be noted that RCom will be the latest addition to such kind of out sourcing model in the Indian telecom space. Other players such as Bharti Airtel, Idea Cellular and Vodafone have signed similar contracts with various companies.
Engineering stocks ended the day on a weak note led by Bharat Electronics and Punj Lloyd. As per a leading business daily, the management of Suzlon Energy expects to end the current fiscal with a flat performance. It has attributed the same to the global meltdown. The company expects the growth to be affected as global economic slowdown has either impacted or deferred its clients’ plans. Further, the company also expects to be impacted by the fall in prices of non-renewal energy sources. The company’s current order book stands at around 1,900 MW. In addition to all this, Suzlon has been facing troubles internally on account of its huge debt to equity ratio, which is over one time. However, the company has been evaluating various options to reduce the same.
The Indian markets slipped further into the red during the previous two hours of trade on account of persistent selling witnessed across the index heavyweights. Stocks from the telecom, steel and energy sectors are leading the pack of losers, while select stocks from the power, auto and software sectors are trading firm. The overall decline to advance ratio is poised at 1.6 to 1 on the BSE.
The BSE Sensex and NSE Nifty are trading lower, down by 250 points and 120 points respectively. The BSE Midcap and the BSE Smallcap indices are also trading lower, down by 2.1% each. The rupee is trading at 47.92 to the dollar.
FMCG stocks are trading mixed. While HUL and Dabur are trading lower, Britannia Industries is trading higher. As per a leading business daily, Britannia plans to revive its marketing strategy by introducing lower priced variants of its popular biscuit brands in order to stimulate sales. It plans to sell Good Day, Bourbon and Treat brands in Rs 5 packs. The company plans to make these brands available at tea kiosks in urban, semi urban and rural areas so as to attract more customers. It may be noted that the new pricing strategy is likely to contribute large volumes particularly from rural areas as such small packs are affordable and likely to instigate high impulsive buying in customers. Britannia is a leader in the biscuits segment commanding around 39% market share in India. This is positive development for the company as it will help it grow its revenues and increase its market share.
Power stocks are trading mixed. While Tata Power and Reliance Infra are trading higher, Power Grid and NTPC are trading lower. As per a leading business daily, Power Grid is planning to enter the US markets and bid for transmission projects in the country. The company is in advanced talks with a US firm to jointly bid for transmission projects there. However, the management did not disclose the name of the US entity. It is also believed that the company is considering a partnership with Kalpataru Power Transmission for the same. It may be noted that Power Grid transmits around 45% to 50% of electricity in India. The company is targeting revenues of around Rs 80 bn in FY10, while it expects bottomline to be over Rs 18 bn during the same period. It plans to spend around Rs 550 bn during the 11th five plan period and around 75% of funding for the same has been already tied up by the company.
Although volatile, the Indian markets gained ground during the previous two hours of trade as buying activity intensified across stocks. Currently, stocks from the realty, banking and power sectors are leading the pack of gainers, while select metal and software stocks are trading weak. The overall advance to decline ratio is poised at 1.4 to 1 on the BSE.
The BSE Sensex is trading lower by around 40 points, while the NSE Nifty is trading flat currently. However, the BSE Midcap and the BSE Smallcap indices are trading higher by 0.7% each. The rupee is trading at 47.85 to the dollar.
As per a leading business daily, IDBI Bank has approached the government for infusion of capital to the tune of Rs 80 bn. For this, the bank plans to allot preferential shares to the government. The bank is also planning to raise debt of around Rs 50 bn for strengthening its capital adequacy. Further, the bank plans to come out with a follow on public offer to fund its growth plan. The bank expects its advances to grow by 20% to 25% per annum. As of March 2009, its capital adequacy ratio (CAR) was lower at 11.9%. Therefore, given its lower capitalization, the bank is in immense need improve its CAR, which is lower than minimum requirement of 12% and also for financing its growth plan. It may be noted that recently the bank had filed an application for 300 branch licenses with the central bank. The stock of IDBI Bank, along with SBI, is trading weak, while PNB is trading firm on the bourses.
Auto stocks are trading mixed. While Ashok Leyland is trading firm, M&M and Tata Motors are in the red. As per a leading business daily, M&M expects to beat Chinese manufacturers in the US market as it plans to sell the diesel version of a small two and four door pickup truck in that market. It may be noted that the company plans to launch the vehicle in the US at a time when the country's auto industry is already under severe pressure. But, the fact is that there is no real competition in the country for the compact truck in the diesel segment. Further, with M&M's competitive price tag for the vehicle and lower price of diesel, the company may find some takers in the US. Moreover, the company expects volumes to gain ground as it establishes its brand in the country.
The Indian markets have opened today's session on a volatile note as cautious sentiments are being seen among the investors. While power and telecom stocks are leading the pack of gainers, software, auto and engineering stocks are among the losers. The overall advance to decline ratio stood at 1.9 to 1 on the NSE. As regards global markets, the US markets ended in the red for a second consecutive day of the week on account of persistent worries on recession. The European markets ended mixed, while the Asian indices are currently trading in the red.
The BSE Sensex is trading lower by around 90 points. The NSE Nifty is down 30 points. Both the BSE Midcap and BSE Smallcap indices are trading marginally up. The rupee is trading at 47.84 to the dollar.
As per a leading business daily, FMCG companies, on account of slowdown witnessed in modern retail sales, are upping the ante on kirana stores. Modern trade at just 3-5% of the total national FMCG sales had grown aggressively at over 35-40% contributing to over 15-25% of sales for most consumer goods companies last year. However, sales have been almost flat since January this year, mainly due to closure of several retail outlets and halt on fresh expansions. Hence, these companies are now focusing on the traditional trade channels. HUL and Godrej Consumer Products (GCPL) have raised trade margins on some brands to traditional retailers recently. HUL offered an 8% incremental trade margin to retailers on Lux and 4% additional margin on Breeze while GCPL hiked margins by 4% on dyes. The move is also beneficial as the companies have increased their focus on the rural areas . The traditional channels are more widespread in these regions, thereby aiding FMCG sales. FMCG stocks are trading firm currently.
Auto major, Tata Motors is planning to launch a 'crossover' sports utility vehicle (SUV) platform. Currently undergoing testing at the Tata Motors European Technical Centre, the company's research and development (R&D) outfit in UK, and at the Engineering Research Centre (ERC) at Pune, the product is likely to be launched sometime in 2010. The vehicle could be based on the crossover Tata Xover that was unveiled at the 75th Geneva Auto Show in 2005. Currently, Tata Motors has the Sumo and the Safari in the UV-SUV segment. As per SIAM, overall UV-SUV sales have been going down for sometime now with sales declining by around 29% YoY in May 2009. The launch could be Tata Motors' biggest bet to arrest the falling sales in the utility vehicle space. While the company's net passenger car sales in May 2009 declined by 11 % YoY, its UV-SUV sales dropped by 49% YoY. Auto stocks are trading mixed on the bourses.
Panic set into the markets today as profit booking during the last hour of trade led the indices to fall deep into the red. The BSE-Sensex ended lower by around 430 points (2.9%), while the NSE-Nifty closed around 160 points (3.6%) down. Stocks from the mid-cap and small-cap spaces ended the day weak as well, recording losses of 4.5% and 4.3% respectively. Selling activity was witnessed in stocks across the board today. Realty, metals and oil and gas stocks were severely hit.
Other Asian markets ended the day in a sea of red as well. The European indices are currently trading weak. Rupee was trading at 47.99 against the US dollar at the time of writing.
Commodity stocks were amongst the biggest losers today, with the BSE-Metal Index and BSE-Oil and Gas Index ending lower by 6.1% and 4.4% respectively. In fact, commodity stocks across the world witnessed, or are witnessing, a negative trend given the fears that commodity prices have entered a bubble phase following China massive purchases, not for satisfying the current demand but for stock piling. Indirectly, this would suggest that once the country stops this buying binge, it would be difficult for commodities (like oil and metals) to sustain the recent advance. It may be noted that crude oil prices have already doubled in price since mid-February.
A leading business daily has reported that telecom major, Reliance Communications (RCom) is in talks with French telecom infrastructure provider Alcatel-Lucent to sign a deal worth US$ 500 m (approx Rs 25 bn). This contract would include operations and maintenance of RCom’s GSM and optical fibre cable services. The deal, which is expected to be one of the largest outsourcing deals in the Indian telecom space, will be finalised in a few weeks. The contract is expected to be executed independently by Alcatel-Lucent or by the joint venture between Alcatel-Lucent and RCom, which was formed last year. This is a positive development for the company as it will allow it to enhance its network quality and reduce operational expenditure. It may be noted that RCom will be the latest addition to such kind of out sourcing model in the Indian telecom space. Other players such as Bharti Airtel, Idea Cellular and Vodafone have signed similar contracts with various companies.
Engineering stocks ended the day on a weak note led by Bharat Electronics and Punj Lloyd. As per a leading business daily, the management of Suzlon Energy expects to end the current fiscal with a flat performance. It has attributed the same to the global meltdown. The company expects the growth to be affected as global economic slowdown has either impacted or deferred its clients’ plans. Further, the company also expects to be impacted by the fall in prices of non-renewal energy sources. The company’s current order book stands at around 1,900 MW. In addition to all this, Suzlon has been facing troubles internally on account of its huge debt to equity ratio, which is over one time. However, the company has been evaluating various options to reduce the same.
The Indian markets slipped further into the red during the previous two hours of trade on account of persistent selling witnessed across the index heavyweights. Stocks from the telecom, steel and energy sectors are leading the pack of losers, while select stocks from the power, auto and software sectors are trading firm. The overall decline to advance ratio is poised at 1.6 to 1 on the BSE.
The BSE Sensex and NSE Nifty are trading lower, down by 250 points and 120 points respectively. The BSE Midcap and the BSE Smallcap indices are also trading lower, down by 2.1% each. The rupee is trading at 47.92 to the dollar.
FMCG stocks are trading mixed. While HUL and Dabur are trading lower, Britannia Industries is trading higher. As per a leading business daily, Britannia plans to revive its marketing strategy by introducing lower priced variants of its popular biscuit brands in order to stimulate sales. It plans to sell Good Day, Bourbon and Treat brands in Rs 5 packs. The company plans to make these brands available at tea kiosks in urban, semi urban and rural areas so as to attract more customers. It may be noted that the new pricing strategy is likely to contribute large volumes particularly from rural areas as such small packs are affordable and likely to instigate high impulsive buying in customers. Britannia is a leader in the biscuits segment commanding around 39% market share in India. This is positive development for the company as it will help it grow its revenues and increase its market share.
Power stocks are trading mixed. While Tata Power and Reliance Infra are trading higher, Power Grid and NTPC are trading lower. As per a leading business daily, Power Grid is planning to enter the US markets and bid for transmission projects in the country. The company is in advanced talks with a US firm to jointly bid for transmission projects there. However, the management did not disclose the name of the US entity. It is also believed that the company is considering a partnership with Kalpataru Power Transmission for the same. It may be noted that Power Grid transmits around 45% to 50% of electricity in India. The company is targeting revenues of around Rs 80 bn in FY10, while it expects bottomline to be over Rs 18 bn during the same period. It plans to spend around Rs 550 bn during the 11th five plan period and around 75% of funding for the same has been already tied up by the company.
Although volatile, the Indian markets gained ground during the previous two hours of trade as buying activity intensified across stocks. Currently, stocks from the realty, banking and power sectors are leading the pack of gainers, while select metal and software stocks are trading weak. The overall advance to decline ratio is poised at 1.4 to 1 on the BSE.
The BSE Sensex is trading lower by around 40 points, while the NSE Nifty is trading flat currently. However, the BSE Midcap and the BSE Smallcap indices are trading higher by 0.7% each. The rupee is trading at 47.85 to the dollar.
As per a leading business daily, IDBI Bank has approached the government for infusion of capital to the tune of Rs 80 bn. For this, the bank plans to allot preferential shares to the government. The bank is also planning to raise debt of around Rs 50 bn for strengthening its capital adequacy. Further, the bank plans to come out with a follow on public offer to fund its growth plan. The bank expects its advances to grow by 20% to 25% per annum. As of March 2009, its capital adequacy ratio (CAR) was lower at 11.9%. Therefore, given its lower capitalization, the bank is in immense need improve its CAR, which is lower than minimum requirement of 12% and also for financing its growth plan. It may be noted that recently the bank had filed an application for 300 branch licenses with the central bank. The stock of IDBI Bank, along with SBI, is trading weak, while PNB is trading firm on the bourses.
Auto stocks are trading mixed. While Ashok Leyland is trading firm, M&M and Tata Motors are in the red. As per a leading business daily, M&M expects to beat Chinese manufacturers in the US market as it plans to sell the diesel version of a small two and four door pickup truck in that market. It may be noted that the company plans to launch the vehicle in the US at a time when the country's auto industry is already under severe pressure. But, the fact is that there is no real competition in the country for the compact truck in the diesel segment. Further, with M&M's competitive price tag for the vehicle and lower price of diesel, the company may find some takers in the US. Moreover, the company expects volumes to gain ground as it establishes its brand in the country.
The Indian markets have opened today's session on a volatile note as cautious sentiments are being seen among the investors. While power and telecom stocks are leading the pack of gainers, software, auto and engineering stocks are among the losers. The overall advance to decline ratio stood at 1.9 to 1 on the NSE. As regards global markets, the US markets ended in the red for a second consecutive day of the week on account of persistent worries on recession. The European markets ended mixed, while the Asian indices are currently trading in the red.
The BSE Sensex is trading lower by around 90 points. The NSE Nifty is down 30 points. Both the BSE Midcap and BSE Smallcap indices are trading marginally up. The rupee is trading at 47.84 to the dollar.
As per a leading business daily, FMCG companies, on account of slowdown witnessed in modern retail sales, are upping the ante on kirana stores. Modern trade at just 3-5% of the total national FMCG sales had grown aggressively at over 35-40% contributing to over 15-25% of sales for most consumer goods companies last year. However, sales have been almost flat since January this year, mainly due to closure of several retail outlets and halt on fresh expansions. Hence, these companies are now focusing on the traditional trade channels. HUL and Godrej Consumer Products (GCPL) have raised trade margins on some brands to traditional retailers recently. HUL offered an 8% incremental trade margin to retailers on Lux and 4% additional margin on Breeze while GCPL hiked margins by 4% on dyes. The move is also beneficial as the companies have increased their focus on the rural areas . The traditional channels are more widespread in these regions, thereby aiding FMCG sales. FMCG stocks are trading firm currently.
Auto major, Tata Motors is planning to launch a 'crossover' sports utility vehicle (SUV) platform. Currently undergoing testing at the Tata Motors European Technical Centre, the company's research and development (R&D) outfit in UK, and at the Engineering Research Centre (ERC) at Pune, the product is likely to be launched sometime in 2010. The vehicle could be based on the crossover Tata Xover that was unveiled at the 75th Geneva Auto Show in 2005. Currently, Tata Motors has the Sumo and the Safari in the UV-SUV segment. As per SIAM, overall UV-SUV sales have been going down for sometime now with sales declining by around 29% YoY in May 2009. The launch could be Tata Motors' biggest bet to arrest the falling sales in the utility vehicle space. While the company's net passenger car sales in May 2009 declined by 11 % YoY, its UV-SUV sales dropped by 49% YoY. Auto stocks are trading mixed on the bourses.
Market Voices 17th June 2009
Market Voices 17th June 2009
A massive across-the-board sell-off pushed the market to a dismal close today.
The Sensex ended 435 points or 2.91% down at 14,522.84. The Nifty closed with a loss of 161.65 points or 3.58% at 4356.15.
Weakness in Asian and European markets amid concerns over global economy prompted investors to head for the exit gate today.
Realty, metal, PSU, oil and capital goods stocks had a free fall in afternoon trade. Power, auto, bank, FMCG, pharma and telecom stocks too caved in meekly. Midcap and smallcap stocks were battered.
Tata Steel, Tata Motors, JP Associates, RComm, DLF, ONGC and Hindalco lost 5% - 7.5%. RIL, NTPC, Wipro, Ranbaxy, L&T, Grasim, ACC and BHEL lost 3% - 5%. SBI, TCS and ITC also declined sharply.
The market breadth was very weak.
Asian markets mostly ended in the red today, though a few off them closed well off their intra-day lows. European markets are all down in the red with sharp losses. With global economy likely to take a longer time to recover, investors across the globe appear to have switched to a highly cautious mode this week.
It now appears that the Indian market will find it extremely tough to extend its winning streak to a fifteenth straight week.
Syndicate Bank has informed BSE that the Bank has on June 15, 2009 raised Tier II Capital to the extent of Rs 200 crore through issue of Unsecured Non-Convertible Sub-ordinated Debt. The issue opened and closed on June 15, 2009. The bond was priced at 8.49%p.a. payable annually.
The market has come a long way from the dismal levels it had touched in early March this year.
Hopes of an economic revival and expectations from the new UPA government contributed to the market's telling rebound. However, amid fresh concerns over the pace of recovery, global markets have been finding it increasing tough to sustain momentum. So, notwithstanding some sharp rallies here and there, it is still a wait and watch game on most of bourses across the globe.
Kingfisher Airlines (Rs 56) can rise to Rs 70 over a medium term. One holding the stock can stay invested and look at buying more at dips. Long term investors can have a stop loss in place near Rs 35.
Cairn India (Rs 235) looks set for a decent upmove. The stock can be held for long term with a stop loss near Rs 180. Over a near to medium term, the stock can rise to Rs 265.
Investors looking at medium term can go in for Allahabad Bank, Syndicate Bank, UCO Bank and Indian Bank. A modest exposure can be had at current levels. One can increase stake at dips.
Bharti Airtel (Rs 820) can be retained for long term. Though the stock is likely to see some weak spells, it is expected to move past its 52-week high of Rs 990 sooner than later. Fresh buying can be considered at Rs 770 - 780 levels.
RNRL (Rs 102) remains a bit volatile today. The stock which rebounded after a weak start, has come off its high now due to profit taking at higher levels. One holding the stock with a long term view can stay invested in it and buy more at sharp falls.
Marico (Rs 71) can give modest returns over a short term. The stock can be picked up at current levels or slightly lower. Long term investors can have a stop loss at Rs 55 -58.
Dabur India (Rs 116) can be picked up for long term. One can go in for some modest quantity now and add more at declines. The stock is likely to find some resistance around Rs 120 - 125 but a strong breakout there can result in a surge to Rs 140 or even higher. For now, a stop loss can be placed near Rs 100.
Reliance Communications (Rs 333) can be bought for intra-day if the stock rises to Rs 335 and trades firm for a while. The stock has support at Rs 325 and one can place a stop loss there.
Omaxe Ltd has informed that its wholly owned subsidiary Omaxe Infrastructure & Construction Pvt Ltd, has bagged construction contracts worth Rs 128.34 crore from U P Projects Corporation Ltd (a UP Government Undertaking). Omaxe has gained 4.3% to Rs 109.50 today. On BSE, around 1.75 lakh shares have changed hands so far at the Omaxe counter today.
IRB Infrastructure Developers Ltd has emerged as the Lowest Bidder for a project from the National Highways Authority of India. The company had submitted its Bid with the National Highways Authority of India for Design, Engineering, Finance, Construction, Operation and Maintenance of Four Lanning of NH 4A from Goa / Karnataka Border Km 84.00 to Panaji - Goa Km 153.070 with total length of 65.07 Km in the State of Goa under NHDP Phase III on BOT basis.
The Project is on Grant basis with concession period of 30 years and estimated cost of the Project is Rs 800 Crores. The Company has sought a grant of Rs 186.30 Crore for the Project from NHAI.
Intra-day traders, who went long in Reliance Infra around Rs 1285 - 1290, can book some profits here. The stock is currently traded at Rs 1315, up 3.7% over its previous closing price.
Those who can afford to hold the stock for short to medium term, can do so with a proper stop loss in place.
Reliance Infrastructure (Rs 1289) can move up sharply today if it makes a decisive breakout at Rs 1296. The stock is likely to find good support at Rs 1273. A breach there can result in a fall to Rs 1258 or even lower.
Reliance Industries (up 1% at Rs 2163) has moved up on reports that the government may intervene in the legal gas distribution dispute with RNRL. The company is also expected to move the Apex court, challenging the verdict of the Bombay High Court in the said issue. One holding the index heavyweight can stay invested and pick up small quantities at sharp falls.
Power Grid Corporation (Rs 125) has moved up on strong results. Investors holding the stock can stay invested and look at buying more of it at declines. Even over a short run, the stock can give a modest return of 10 - 15%.
Market Outlook
The market is likely to open on a weak note this morning. Amid high volatility, some blue chips could surge higher and the indices too see some bright spells but the undertone is likely to remain extremely cautious today.
Sector Watch
Buying is expected to be stock specific today. Still, FMCG, pharma and consumer durables sectors could outperform the market. IT stocks are likely to remain sluggish. Bank stocks may see strong buying at lower levels.
Scrip Watch
Power Grid Corporation has posted a profit after tax of Rs 16906.10 million for the year ended March 31, 2009 as compared to Rs 14484.70 million for the year ended March 31, 2008. Total income of the company increased from Rs 50815.30 million for the year ended March 31, 2008 to Rs 70285.40 million for the year ended March 31, 2009.
Tata Motors is reportedly planning to use its Nano platform to build electric and hybrid cars and to produce more high-end models. The company is likely to target exports of its Nano model to developing countries like Brazil, China, Indonesia and Russia where the growth rate is over 10%.
Unitech is likely to see action following the company obtaining shareholders' nod to raise additional long-term funds through further issuance of securities.
Jindal Steel and Power will see action. The stock enters the Nifty fold today, replacing Reliance Petroleum following its merger with Reliance Industries.
Macro and Market Factors
The market shrugged off weak global cues and rallied higher yesterday but with U.S. markets closing weak on renewed concerns about the economy and Asian markets following suit and posting sharp losses, the mood is likely to turn highly cautious today.
FIIs and domestic mutual funds sold heavily on Monday and this is likely to hurt sentiment to an extent. Expectations from the budget and on the reforms front may result in some buying at lower levels.
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A massive across-the-board sell-off pushed the market to a dismal close today.
The Sensex ended 435 points or 2.91% down at 14,522.84. The Nifty closed with a loss of 161.65 points or 3.58% at 4356.15.
Weakness in Asian and European markets amid concerns over global economy prompted investors to head for the exit gate today.
Realty, metal, PSU, oil and capital goods stocks had a free fall in afternoon trade. Power, auto, bank, FMCG, pharma and telecom stocks too caved in meekly. Midcap and smallcap stocks were battered.
Tata Steel, Tata Motors, JP Associates, RComm, DLF, ONGC and Hindalco lost 5% - 7.5%. RIL, NTPC, Wipro, Ranbaxy, L&T, Grasim, ACC and BHEL lost 3% - 5%. SBI, TCS and ITC also declined sharply.
The market breadth was very weak.
Asian markets mostly ended in the red today, though a few off them closed well off their intra-day lows. European markets are all down in the red with sharp losses. With global economy likely to take a longer time to recover, investors across the globe appear to have switched to a highly cautious mode this week.
It now appears that the Indian market will find it extremely tough to extend its winning streak to a fifteenth straight week.
Syndicate Bank has informed BSE that the Bank has on June 15, 2009 raised Tier II Capital to the extent of Rs 200 crore through issue of Unsecured Non-Convertible Sub-ordinated Debt. The issue opened and closed on June 15, 2009. The bond was priced at 8.49%p.a. payable annually.
The market has come a long way from the dismal levels it had touched in early March this year.
Hopes of an economic revival and expectations from the new UPA government contributed to the market's telling rebound. However, amid fresh concerns over the pace of recovery, global markets have been finding it increasing tough to sustain momentum. So, notwithstanding some sharp rallies here and there, it is still a wait and watch game on most of bourses across the globe.
Kingfisher Airlines (Rs 56) can rise to Rs 70 over a medium term. One holding the stock can stay invested and look at buying more at dips. Long term investors can have a stop loss in place near Rs 35.
Cairn India (Rs 235) looks set for a decent upmove. The stock can be held for long term with a stop loss near Rs 180. Over a near to medium term, the stock can rise to Rs 265.
Investors looking at medium term can go in for Allahabad Bank, Syndicate Bank, UCO Bank and Indian Bank. A modest exposure can be had at current levels. One can increase stake at dips.
Bharti Airtel (Rs 820) can be retained for long term. Though the stock is likely to see some weak spells, it is expected to move past its 52-week high of Rs 990 sooner than later. Fresh buying can be considered at Rs 770 - 780 levels.
RNRL (Rs 102) remains a bit volatile today. The stock which rebounded after a weak start, has come off its high now due to profit taking at higher levels. One holding the stock with a long term view can stay invested in it and buy more at sharp falls.
Marico (Rs 71) can give modest returns over a short term. The stock can be picked up at current levels or slightly lower. Long term investors can have a stop loss at Rs 55 -58.
Dabur India (Rs 116) can be picked up for long term. One can go in for some modest quantity now and add more at declines. The stock is likely to find some resistance around Rs 120 - 125 but a strong breakout there can result in a surge to Rs 140 or even higher. For now, a stop loss can be placed near Rs 100.
Reliance Communications (Rs 333) can be bought for intra-day if the stock rises to Rs 335 and trades firm for a while. The stock has support at Rs 325 and one can place a stop loss there.
Omaxe Ltd has informed that its wholly owned subsidiary Omaxe Infrastructure & Construction Pvt Ltd, has bagged construction contracts worth Rs 128.34 crore from U P Projects Corporation Ltd (a UP Government Undertaking). Omaxe has gained 4.3% to Rs 109.50 today. On BSE, around 1.75 lakh shares have changed hands so far at the Omaxe counter today.
IRB Infrastructure Developers Ltd has emerged as the Lowest Bidder for a project from the National Highways Authority of India. The company had submitted its Bid with the National Highways Authority of India for Design, Engineering, Finance, Construction, Operation and Maintenance of Four Lanning of NH 4A from Goa / Karnataka Border Km 84.00 to Panaji - Goa Km 153.070 with total length of 65.07 Km in the State of Goa under NHDP Phase III on BOT basis.
The Project is on Grant basis with concession period of 30 years and estimated cost of the Project is Rs 800 Crores. The Company has sought a grant of Rs 186.30 Crore for the Project from NHAI.
Intra-day traders, who went long in Reliance Infra around Rs 1285 - 1290, can book some profits here. The stock is currently traded at Rs 1315, up 3.7% over its previous closing price.
Those who can afford to hold the stock for short to medium term, can do so with a proper stop loss in place.
Reliance Infrastructure (Rs 1289) can move up sharply today if it makes a decisive breakout at Rs 1296. The stock is likely to find good support at Rs 1273. A breach there can result in a fall to Rs 1258 or even lower.
Reliance Industries (up 1% at Rs 2163) has moved up on reports that the government may intervene in the legal gas distribution dispute with RNRL. The company is also expected to move the Apex court, challenging the verdict of the Bombay High Court in the said issue. One holding the index heavyweight can stay invested and pick up small quantities at sharp falls.
Power Grid Corporation (Rs 125) has moved up on strong results. Investors holding the stock can stay invested and look at buying more of it at declines. Even over a short run, the stock can give a modest return of 10 - 15%.
Market Outlook
The market is likely to open on a weak note this morning. Amid high volatility, some blue chips could surge higher and the indices too see some bright spells but the undertone is likely to remain extremely cautious today.
Sector Watch
Buying is expected to be stock specific today. Still, FMCG, pharma and consumer durables sectors could outperform the market. IT stocks are likely to remain sluggish. Bank stocks may see strong buying at lower levels.
Scrip Watch
Power Grid Corporation has posted a profit after tax of Rs 16906.10 million for the year ended March 31, 2009 as compared to Rs 14484.70 million for the year ended March 31, 2008. Total income of the company increased from Rs 50815.30 million for the year ended March 31, 2008 to Rs 70285.40 million for the year ended March 31, 2009.
Tata Motors is reportedly planning to use its Nano platform to build electric and hybrid cars and to produce more high-end models. The company is likely to target exports of its Nano model to developing countries like Brazil, China, Indonesia and Russia where the growth rate is over 10%.
Unitech is likely to see action following the company obtaining shareholders' nod to raise additional long-term funds through further issuance of securities.
Jindal Steel and Power will see action. The stock enters the Nifty fold today, replacing Reliance Petroleum following its merger with Reliance Industries.
Macro and Market Factors
The market shrugged off weak global cues and rallied higher yesterday but with U.S. markets closing weak on renewed concerns about the economy and Asian markets following suit and posting sharp losses, the mood is likely to turn highly cautious today.
FIIs and domestic mutual funds sold heavily on Monday and this is likely to hurt sentiment to an extent. Expectations from the budget and on the reforms front may result in some buying at lower levels.
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Brokerage Recommendations 17th June 2009
Sell Shipping Corporation with target of Rs 115, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 136, he adds. The stock is at Rs 124.60, down 4.7% on the BSE.
Buy Sesa Goa at Rs 180 with target of Rs 220, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 160, he adds. The stock is at Rs 187.55, down 6.6% on the BSE
Buy Gruh Finance at Rs 180 with target of Rs 230, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 166, he adds. The stock is at Rs 185.25, up 6.5% on the BSE.
Sell Wipro with target of Rs 360, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 405, he adds. The stock is at Rs 378, down 4.8% on the BSE.
Hold Jaiprakash Associates with short-term target of Rs 245-250, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep stop loss of Rs 200, he adds. The stock is currently trading at Rs 205, down 6.3% on the BSE.
Buy Rolta with target of Rs 165, 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 132, down 7.8% on the BSE. » S
Hold IRB Infra with stop loss of Rs 127, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. It has resistance at Rs 151-161, he adds. The stock is currently trading at Rs 136, down 0.04% on the BSE.
Buy Corporation Bank with target of Rs 345, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 300, he adds. The stock is currently trading at Rs 317, up 0.2% on the BSE.
Buy Jyothi Laboratories on dips with target of Rs 150 in 12 months, says Ashish Kukreja, market expert, on CNBC Awaaz. The stock is currently trading at Rs 109.25, down 6.5% on the BSE. » Send to friends
Buy Dish TV with targets of Rs 51 and then 60, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep stop loss of Rs 39, he adds. The stock is currently trading at Rs 39.40, down 3.8% on the BSE.
Buy Satyam at Rs 83, says MB Singh, technical analyst, on Zee Business. Keep short-term target of Rs 115 and medium-term target of Rs 140, he adds. The stock is currently trading at Rs 80.20, down 0.4% on the BSE.
Buy Balrampur Chini with targets of Rs 116 and then 122, says Husseini Wadharia of Techno Shares on CNBC Awaaz. Keep stop loss of Rs 100, he adds. The stock is currently trading at Rs 103, down 1.4% on the BSE.
Buy Voltamp Transformers with target of Rs 900 in 12 months, says Kamlesh Kotak, market expert, on CNBC TV18. The stock is currently trading at Rs 768, down 2% on the BSE.
Buy Voltas at Rs 123 with stop loss of Rs 118, says Simi Bhaumik, technical analyst, on Zee Business. Keep short-term target of Rs 131 and medium-term target of Rs 144, she adds. The stock is currently trading at Rs 125, down 1.5% on the BSE.
Buy YES Bank with targets of Rs 152 and then 161, says Husseini Wadharia of Techno Shares on CNBC Awaaz. Keep stop loss of Rs 129, he adds. The stock is currently trading at Rs 133.50, down 1.8% on the BSE.
Hold Cairn India with target of Rs 320, says MB Singh, technical analyst, on Zee Business. Keep stop loss below Rs 200, he adds. The stock is currently trading at Rs 234.30, down 2.8% on the BSE.
Buy SBI at Rs 1700 with stop loss of Rs 1670, says Simi Bhaumik, technical analyst, on Zee Business. Keep short-term target of Rs 1765 and medium-term target of Rs 1820, she adds. The stock is currently trading at Rs 1678.05, down 2.1% on the BSE.
Buy Jet Airways at Rs 230 with target of Rs 360, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 265, up 1.1% on the BSE.
Buy GMR Infra on dips and hold for long term, says Ashish Kapur of Invest Shoppe on NDTV Profit. Fundamentally, it is a strong stock, he adds. The stock is currently trading at Rs 149.50, down 1.3% on the BSE.
Buy Allahabad Bank at Rs 70 with target of Rs 102, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 79.65, down 1.7% on the BSE.
Hold Ispat Industries with stop loss below Rs 20, says Simi Bhaumik, technical analyst, on Zee Business. It has resistance at Rs 30 crossing which it can go high, she adds. The stock is currently trading at Rs 25 on the BSE.
Hold NTPC with target of Rs 280, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep stop loss of Rs 208, he adds. The stock is currently trading at Rs 223.25, down 0.5% on the BSE.
Buy Unitech at Rs 91-93 with stop loss of Rs 84, says MB Singh, technical analyst, on Zee Business. Keep short-term stop loss of Rs 108 and medium-term target of Rs 130, he adds. The stock is currently trading at Rs 90.15, up 1.4% on the BSE.
Hold Power Grid which has resistance at Rs 124, says Salil Sharma, technical analyst, on CNBC Awaaz. New investors should buy only if it crosses Rs 125, he adds. The stock is currently trading at Rs 124.25, up 1.4% on the BSE.
Hold Satyam which will cross Rs 100 in 3-6 months, says Sheshadri Bhartan, market expert, on CNBC Awaaz. The stock is currently trading at Rs 82.65, up 2.6% on the BSE.
Invest in tea and sugar stocks, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. These are safe stocks and will give good returns, he adds.
Book profits in IVRCL Infra and buy again on declines, says Ashish Maheshwari of Global Capital Market on CNBC Awaaz. The stock is currently trading at Rs 334.95, up 3.1% on the BSE.
Hold Everest Kanto with stop loss of Rs 199, says Pradeep Surekha, technical analyst, on Zee Business. If Nifty sustains above 4400 level then this stock will give good returns, he adds. The stock is currently trading at Rs 206.50, down 1.5% on the BSE.
Buy Great Offshore at Rs 390-410 with target of Rs 550, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 345, he adds. The stock is currently trading at Rs 399.65, up 1.% on the BSE.
Buy Hindustan Unilever with target of Rs 283 in swing trade, says Anu Jain, technical analyst, on CNBC TV18. Keep stop loss of Rs 259, she adds. The stock is currently trading at Rs 260.10, down 1.1% on the BSE.
Hold IFCI with targets of Rs 66 and then 85, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 44, he adds. The stock is currently trading at Rs 54.75, down 1.1% on the BSE.
Buy Tech Mahindra which is in a good uptrend now, says Rajat Bose, technical analyst, on CNBC Awaaz. Keep short-term target of Rs 860-880 and long-term target of Rs 1000, he adds. The stock is currently trading at Rs 783.10, down 1% on the BSE.
The market is driven purely by liquidity and the bias remains positive, says Devesh Kumar of Centrum Broking on CNBC TV18. He believes that the Sensex can go up to 16000 ahead of the budget.
Hold Reliance Infrastructure which has resistance at Rs 1290 crossing which it can go to Rs 1360, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1308, up 3.1% on the BSE.
Hold Satyam which has resistance at Rs 82 crossing which it can go to Rs 110, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 82.70, up 2.7% on the BSE.
Buy Balrampur Chini with intra-day target of Rs 115, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 103, he adds. The stock is currently trading at Rs 105.50, up 1% on the BSE.
Buy Andhra Petrochemicals at Rs 11-12, says Pradeep Surekha, technical analyst, on Zee Business. It can give 50% returns in one year, he adds. The stock is currently trading at Rs 15.45, up 4.8% on the BSE.
Buy Essar Oil with intra-day target of Rs 180, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 165, he adds. The stock is currently trading at Rs 166.50, up 5.2% on the BSE.
Buy Satyam at current levels, says Rajat Bose, technical analyst, on CNBC Awaaz. If it crosses Rs 90 then it will show good upmove, he adds. The stock is currently trading at Rs 80.55, up 5% on the BSE.
Buy Hindalco with target of Rs 120, says Anu Jain, technical analyst, on CNBC TV18. Keep stop loss of Rs 96.50, she adds. The stock is currently trading at Rs 99, up 3.3% on the BSE.
Sell BPCL with intra-day target of Rs 435, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 452, he adds. The stock is currently trading at Rs 447.20, up 3.9% on the BSE.
Sell DLF if it breaks Rs 345, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep target of Rs 310-315, he adds. The stock is currently trading at Rs 353.30, up 0.3% on the BSE.
Buy Henkel India with intra-day target of Rs 25, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 20.50, he adds. The stock is currently trading at Rs 20.90, up 6.6% on the BSE.
Buy Satyam at Rs 80.55 with target of Rs 85, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 77, she adds. The stock is at Rs 80.55, up 5% on the BSE.
Buy IFCI at Rs 55.35 with target of Rs 59, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 53.70, she adds. The stock is at Rs 55.35, up 7.3% on the BSE.
Buy Sesa Goa at Rs 180 with target of Rs 220, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 160, he adds. The stock is at Rs 187.55, down 6.6% on the BSE
Buy Gruh Finance at Rs 180 with target of Rs 230, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. Keep stop loss of Rs 166, he adds. The stock is at Rs 185.25, up 6.5% on the BSE.
Sell Wipro with target of Rs 360, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 405, he adds. The stock is at Rs 378, down 4.8% on the BSE.
Hold Jaiprakash Associates with short-term target of Rs 245-250, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep stop loss of Rs 200, he adds. The stock is currently trading at Rs 205, down 6.3% on the BSE.
Buy Rolta with target of Rs 165, 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 132, down 7.8% on the BSE. » S
Hold IRB Infra with stop loss of Rs 127, says Hitendra Vasudev, technical analyst, on CNBC Awaaz. It has resistance at Rs 151-161, he adds. The stock is currently trading at Rs 136, down 0.04% on the BSE.
Buy Corporation Bank with target of Rs 345, says Rajesh Jain of SMC Global Securities on CNBC Awaaz. Keep stop loss of Rs 300, he adds. The stock is currently trading at Rs 317, up 0.2% on the BSE.
Buy Jyothi Laboratories on dips with target of Rs 150 in 12 months, says Ashish Kukreja, market expert, on CNBC Awaaz. The stock is currently trading at Rs 109.25, down 6.5% on the BSE. » Send to friends
Buy Dish TV with targets of Rs 51 and then 60, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep stop loss of Rs 39, he adds. The stock is currently trading at Rs 39.40, down 3.8% on the BSE.
Buy Satyam at Rs 83, says MB Singh, technical analyst, on Zee Business. Keep short-term target of Rs 115 and medium-term target of Rs 140, he adds. The stock is currently trading at Rs 80.20, down 0.4% on the BSE.
Buy Balrampur Chini with targets of Rs 116 and then 122, says Husseini Wadharia of Techno Shares on CNBC Awaaz. Keep stop loss of Rs 100, he adds. The stock is currently trading at Rs 103, down 1.4% on the BSE.
Buy Voltamp Transformers with target of Rs 900 in 12 months, says Kamlesh Kotak, market expert, on CNBC TV18. The stock is currently trading at Rs 768, down 2% on the BSE.
Buy Voltas at Rs 123 with stop loss of Rs 118, says Simi Bhaumik, technical analyst, on Zee Business. Keep short-term target of Rs 131 and medium-term target of Rs 144, she adds. The stock is currently trading at Rs 125, down 1.5% on the BSE.
Buy YES Bank with targets of Rs 152 and then 161, says Husseini Wadharia of Techno Shares on CNBC Awaaz. Keep stop loss of Rs 129, he adds. The stock is currently trading at Rs 133.50, down 1.8% on the BSE.
Hold Cairn India with target of Rs 320, says MB Singh, technical analyst, on Zee Business. Keep stop loss below Rs 200, he adds. The stock is currently trading at Rs 234.30, down 2.8% on the BSE.
Buy SBI at Rs 1700 with stop loss of Rs 1670, says Simi Bhaumik, technical analyst, on Zee Business. Keep short-term target of Rs 1765 and medium-term target of Rs 1820, she adds. The stock is currently trading at Rs 1678.05, down 2.1% on the BSE.
Buy Jet Airways at Rs 230 with target of Rs 360, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 265, up 1.1% on the BSE.
Buy GMR Infra on dips and hold for long term, says Ashish Kapur of Invest Shoppe on NDTV Profit. Fundamentally, it is a strong stock, he adds. The stock is currently trading at Rs 149.50, down 1.3% on the BSE.
Buy Allahabad Bank at Rs 70 with target of Rs 102, says Prakash Gaba, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 79.65, down 1.7% on the BSE.
Hold Ispat Industries with stop loss below Rs 20, says Simi Bhaumik, technical analyst, on Zee Business. It has resistance at Rs 30 crossing which it can go high, she adds. The stock is currently trading at Rs 25 on the BSE.
Hold NTPC with target of Rs 280, says Kiran Jadhav, technical analyst, on NDTV Profit. Keep stop loss of Rs 208, he adds. The stock is currently trading at Rs 223.25, down 0.5% on the BSE.
Buy Unitech at Rs 91-93 with stop loss of Rs 84, says MB Singh, technical analyst, on Zee Business. Keep short-term stop loss of Rs 108 and medium-term target of Rs 130, he adds. The stock is currently trading at Rs 90.15, up 1.4% on the BSE.
Hold Power Grid which has resistance at Rs 124, says Salil Sharma, technical analyst, on CNBC Awaaz. New investors should buy only if it crosses Rs 125, he adds. The stock is currently trading at Rs 124.25, up 1.4% on the BSE.
Hold Satyam which will cross Rs 100 in 3-6 months, says Sheshadri Bhartan, market expert, on CNBC Awaaz. The stock is currently trading at Rs 82.65, up 2.6% on the BSE.
Invest in tea and sugar stocks, says Mehraboon Irani of Centrum Broking on CNBC Awaaz. These are safe stocks and will give good returns, he adds.
Book profits in IVRCL Infra and buy again on declines, says Ashish Maheshwari of Global Capital Market on CNBC Awaaz. The stock is currently trading at Rs 334.95, up 3.1% on the BSE.
Hold Everest Kanto with stop loss of Rs 199, says Pradeep Surekha, technical analyst, on Zee Business. If Nifty sustains above 4400 level then this stock will give good returns, he adds. The stock is currently trading at Rs 206.50, down 1.5% on the BSE.
Buy Great Offshore at Rs 390-410 with target of Rs 550, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 345, he adds. The stock is currently trading at Rs 399.65, up 1.% on the BSE.
Buy Hindustan Unilever with target of Rs 283 in swing trade, says Anu Jain, technical analyst, on CNBC TV18. Keep stop loss of Rs 259, she adds. The stock is currently trading at Rs 260.10, down 1.1% on the BSE.
Hold IFCI with targets of Rs 66 and then 85, says MB Singh, technical analyst, on Zee Business. Keep stop loss of Rs 44, he adds. The stock is currently trading at Rs 54.75, down 1.1% on the BSE.
Buy Tech Mahindra which is in a good uptrend now, says Rajat Bose, technical analyst, on CNBC Awaaz. Keep short-term target of Rs 860-880 and long-term target of Rs 1000, he adds. The stock is currently trading at Rs 783.10, down 1% on the BSE.
The market is driven purely by liquidity and the bias remains positive, says Devesh Kumar of Centrum Broking on CNBC TV18. He believes that the Sensex can go up to 16000 ahead of the budget.
Hold Reliance Infrastructure which has resistance at Rs 1290 crossing which it can go to Rs 1360, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 1308, up 3.1% on the BSE.
Hold Satyam which has resistance at Rs 82 crossing which it can go to Rs 110, says Salil Sharma, technical analyst, on CNBC Awaaz. The stock is currently trading at Rs 82.70, up 2.7% on the BSE.
Buy Balrampur Chini with intra-day target of Rs 115, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 103, he adds. The stock is currently trading at Rs 105.50, up 1% on the BSE.
Buy Andhra Petrochemicals at Rs 11-12, says Pradeep Surekha, technical analyst, on Zee Business. It can give 50% returns in one year, he adds. The stock is currently trading at Rs 15.45, up 4.8% on the BSE.
Buy Essar Oil with intra-day target of Rs 180, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 165, he adds. The stock is currently trading at Rs 166.50, up 5.2% on the BSE.
Buy Satyam at current levels, says Rajat Bose, technical analyst, on CNBC Awaaz. If it crosses Rs 90 then it will show good upmove, he adds. The stock is currently trading at Rs 80.55, up 5% on the BSE.
Buy Hindalco with target of Rs 120, says Anu Jain, technical analyst, on CNBC TV18. Keep stop loss of Rs 96.50, she adds. The stock is currently trading at Rs 99, up 3.3% on the BSE.
Sell BPCL with intra-day target of Rs 435, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 452, he adds. The stock is currently trading at Rs 447.20, up 3.9% on the BSE.
Sell DLF if it breaks Rs 345, says Rahul Mohinder, technical analyst, on CNBC TV18. Keep target of Rs 310-315, he adds. The stock is currently trading at Rs 353.30, up 0.3% on the BSE.
Buy Henkel India with intra-day target of Rs 25, says Anil Singhvi, market expert, on CNBC Awaaz. Keep stop loss of Rs 20.50, he adds. The stock is currently trading at Rs 20.90, up 6.6% on the BSE.
Buy Satyam at Rs 80.55 with target of Rs 85, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 77, she adds. The stock is at Rs 80.55, up 5% on the BSE.
Buy IFCI at Rs 55.35 with target of Rs 59, says Simi Bhaumik, technical analyst, on Zee Business. Keep stop loss of Rs 53.70, she adds. The stock is at Rs 55.35, up 7.3% on the BSE.
Saturday, June 13, 2009
Learn2earn in BSE / NSe
Ravina Consulting
Ravina Consulting is a Management Consulting firm engaged in providing professional advise to the clients. Intelligent Investor is a Division of Ravina Consulting exclusively focused on providing research based support to enable
Intelligent Investors to make wealth from the Financial markets in India. This program is designed with a view to help the Indian investor keen on making money
in the markets
Intelligent Investor –
Investment Advisory Division of Ravina Consulting.
Intelligent Investment Ideas for Indian Investors has been helping Investors for the last 2 decades having extensive knowledge about the Indian Capital markets.
The operations have started since the boom of 1984 and with our experience of more than 25 years we have perfected the art of giving the best Portfolio Management / Investment Advisory Services.
www.intelligentinvestor1.blogspot.com
Follow us – www.twitter.com/SmartInvestor
OBJECTIVES
• Understanding Indian Financial Markets
• BSE – How it functions
• NSE – How it functions
• Commodities Exchange – How it functions
• Foreign Exchange - Basics
• Sectoral Indices
• Global Indices to track
• Technical Analysis
• Long term / Short term investing
• Day traders delight how to win and time the market 1
. Portfolio - Creating & tracking
PROGRAMME CONTENTS
The course has 1 modules consisting of 30 sessions each conducted online of 30 lectures / sessions followed by an assessment. Out of which 15 are theoretical in nature and 15 are practical applications.
TOOLS & TECHNIQUES :
We provide you with tools and explain the techniques to track the market and
make money. We have the following investment options :
1. Long term investment – with holding of more than 12 Months
2. Short term investment – with holding of more than 1 month
3. Weekly investment – mostly BTST with holding of 1 week
4. Day trading – how to trade and make money
PARTICIPANTS' PROFILE
This program is designed for everyone who is keen to enter the Indian Stock
markets – B S E or N S E
Qualification :
A candidate wishing to undergo this program should be conversant with English
and able to understand the program contents. Candidate should have basic knowledge of working on computers and is work with MS office and familiar with internet browsing.
Method of Delivery
Web-based / Online / telephone one hour for each session. The online sessions
will be based on the presentations / study material sent to the candidates at
the time of registration.
Study Material
A well researched and informative set of study material is given to the
students. A simple and easy to understand style of reports makes it easy even
for the novices to know about the nuances of the Indian Share Market. The Study
Material will be sent by hard copy / soft copy.
For a Demo Class contact us now !
Ravina Consulting
303 Motherland Building
3rd Main 3rd Cross
Kamanahalli
BANGALORE 560084
intellinvestor@gmail.com or
call 09880080321
Ravina Consulting is a Management Consulting firm engaged in providing professional advise to the clients. Intelligent Investor is a Division of Ravina Consulting exclusively focused on providing research based support to enable
Intelligent Investors to make wealth from the Financial markets in India. This program is designed with a view to help the Indian investor keen on making money
in the markets
Intelligent Investor –
Investment Advisory Division of Ravina Consulting.
Intelligent Investment Ideas for Indian Investors has been helping Investors for the last 2 decades having extensive knowledge about the Indian Capital markets.
The operations have started since the boom of 1984 and with our experience of more than 25 years we have perfected the art of giving the best Portfolio Management / Investment Advisory Services.
www.intelligentinvestor1.blogspot.com
Follow us – www.twitter.com/SmartInvestor
OBJECTIVES
• Understanding Indian Financial Markets
• BSE – How it functions
• NSE – How it functions
• Commodities Exchange – How it functions
• Foreign Exchange - Basics
• Sectoral Indices
• Global Indices to track
• Technical Analysis
• Long term / Short term investing
• Day traders delight how to win and time the market 1
. Portfolio - Creating & tracking
PROGRAMME CONTENTS
The course has 1 modules consisting of 30 sessions each conducted online of 30 lectures / sessions followed by an assessment. Out of which 15 are theoretical in nature and 15 are practical applications.
TOOLS & TECHNIQUES :
We provide you with tools and explain the techniques to track the market and
make money. We have the following investment options :
1. Long term investment – with holding of more than 12 Months
2. Short term investment – with holding of more than 1 month
3. Weekly investment – mostly BTST with holding of 1 week
4. Day trading – how to trade and make money
PARTICIPANTS' PROFILE
This program is designed for everyone who is keen to enter the Indian Stock
markets – B S E or N S E
Qualification :
A candidate wishing to undergo this program should be conversant with English
and able to understand the program contents. Candidate should have basic knowledge of working on computers and is work with MS office and familiar with internet browsing.
Method of Delivery
Web-based / Online / telephone one hour for each session. The online sessions
will be based on the presentations / study material sent to the candidates at
the time of registration.
Study Material
A well researched and informative set of study material is given to the
students. A simple and easy to understand style of reports makes it easy even
for the novices to know about the nuances of the Indian Share Market. The Study
Material will be sent by hard copy / soft copy.
For a Demo Class contact us now !
Ravina Consulting
303 Motherland Building
3rd Main 3rd Cross
Kamanahalli
BANGALORE 560084
intellinvestor@gmail.com or
call 09880080321
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