Friday, March 5, 2010
सेन्सेक्स (16994.49) 22.79 अंक चढ्कर, नीफ़्टी (5088.70)08.45 अंक चढ्कर, बंद..
Buy and Hold ~FOR NEXT WEEK ...
Corporate Snippets
± Private Banks, HDFC Bank, ICICI Bank and Kotak Mahindra Bank raise rates on home and auto Loans. (ET)
± Government likely to set NMDC floor price for the FPO at 30-35% discount to the current stock price. (ET)
± IOC’s Paradip refinery in Orissa to commence operations by November 2012 which may dent the available income tax breaks. (ET)
± Infosys plans to have a third of its total revenues coming from new services, including cloud computing and platform-based offerings, over next few years. (ET)
± Nissan will continue to source the Pixo, a small car from Maruti Suzuki, until the contract expires in 2012. (BS)
± TTML is preparing a war chest of Rs85bn to bid in the forthcoming 3G auctions. (ET)
± NMDC is planning to raise long-term contract prices of iron ore by 40-50%, effective April 1, 2010. (BS)
± Wipro has rejigged its non-IT businesses along with leadership changes. (ET)
Pre Market Commentary ...
Today, the bulls are turning optimistic after a day’s breather and will most likely resume their shopping spree as healthy global cues remain the inspiring trigger. It's time to get realistic and not really pessimistic as the Budget-inspired rally in recent days do not make valuations too compelling. Take it stock by stock rather than get swayed by daily movement in the key indices. Small-cap and Mid-cap stocks may extend Thursday’s rally. But, weigh your risk-reward ratio well while dealing with this space. We expect a firm start, which should well hold till the end of the day. Monthly US jobs data is the key global event to watch out for today.
Thursday, March 4, 2010
सेन्सेक्स (16955.41) - 44.60 अंक गिरकर, नीफ़्टी (5080.25) - 07.85 अंक गिरकर, बंद.
Jain Irrigation
our SMS to paid clients was
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SL 694 hold for target
877, 924 & 1044 plus
Post BUDGET,
hold for 60 days
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ANSAL PROP : our yesterday call up 2% hold for target,
now 73.20
Ansal Properties
At 70.90 SL 66
Target 74 and 77
80 plus in 3days
Corporate Snippets
± Infosys plans salary hike across board in April 2010. (ET)
± NTPC and L&T keen to partner IOC for the LNG project. (BL)
± BHEL set to bag orders for steam turbine generators.(BL)
± Hindalco has suspended operation at its Nagpur unit due to labour problems. (BL)
± SBI plans to scale up the intake of the clerical staff to 25,000 from initial estimate of 11,000. (BS)
± SAIL and Tata Steel hike prices by up to Rs2,000/ton. (BS)
± Ashok Leyland February sales up 142% yoy to 7,869 units. (BS)
Market Commentary ...
The bulls seem to be able to bear any apprehensions for now. It’s not as if risk appetite is increasing, but who wants to miss a joyride! The indices have been on a firm footing as the health of the Indian economy appears to be getting better by the day. The Auto and cement numbers have given some reason to cheer. For those who rejoice in numbers of any kind, the total market cap of all the listed firms on the BSE has surged to Rs60,742bn, adding Rs2,410bn in three trading sessions since Budget Day.
With Finance Minister making it clear that fuel price rise is here to stay, keeping inflation under control will remain a challenge.
A flat start is in the offing; a reversal of recent fortunes could well take place during the day depending on how the global events pan out. Expectations though are that the Nifty may breach the 5100 mark before any worthwhile correction. The Asian markets are indecisive for now. US indices wiped out gains following worries about the job and manufacturing reports expected in the coming days.
Wednesday, March 3, 2010
DELIVERY CALL ................
DIGJAM at 11.10
SL 9.90 target 13,14
And 17 in 15 days
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TOMMOROW ALL INDIA
WILL RUN TO BUY
news base....
buy in truck load...
RIL : now trading at 1026 ~ hold for next week...... target 1100 +++
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hold for 84,94 and 100
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SAIL : Our delivery call trading strong at 227,
HOLD FOR ONE YEAR
300 PLUS
[ OUR CALL TRADING STRONG ]
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ICICI BANK : our call trading strong at 911 hold for 1000
Corporate Snippets
Tata Motors said it would bring an electric version of the Nano, the world’s cheapest car, to Europe within three years, starting with Britain and Scandinavia. (ET)
Karnataka Bank has entered into a memorandum of understanding with Tata Motors to finance purchase of passenger and goods transportation vehicles manufactured by the company. (BL)
Corus the British-Dutch subsidiary of Tata Steel has sold its 50% stake in Cindu Chemicals, a Netherlands-based tar distillation plant, to Koppers International, as part of the overall Tata Group strategy to exit non-core areas. (ET)
GAIL and Maharashtra Industrial Development Corporation plan to establish a joint venture company for distributing gas to industrial consumers in the state. (BL)
BHEL secured an order worth ~Rs57.8bn from Indiabulls Group firm Elena Power & Infrastructure Ltd, to set up projects at Nashik (5x270 MW) and Amravati (5x270 MW). (BL)
Pre Market Commentary ...
Today, it’s the season of recalls as far as the global auto industry is concerned even as the Indian auto story remains on a firmer footing so far. At the same time, policymakers across the globe, barring a few troubled spots, are reversing the crisis-fighting stimulus. India has already made its intentions clear on stimulus withdrawal as the economy has rebounded strongly. One only hopes that the UPA doesn’t succumb to political pressure on the issue of fuel price hike.
There might be some reversal on the bourses after two successive days of Budget-related gains. The start will most probably be a flat one due to uncertain global cues. US market erased bigger gains to close slightly higher. European indices did somewhat better and it’s a mixed bag for Asian markets.
The Budget has prevented further breakdown in sentiment but the upside too appears capped a little above these levels. Among the key factors to watch out for will be FII flows, which have turned positive again. Summer is here for now but it will be the dark clouds of monsoon which will bring the desired sunshine on the bourses.
FIIs were net buyers in the cash segment on Tuesday at Rs13.35bn on a provisional basis while the local funds were net sellers of Rs9.77bn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers of Rs28.17bn. On Friday, FIIs were net buyers of Rs10.94bn in the cash segment.
Tuesday, March 2, 2010
सेन्सेक्स (16772.56) 343.01 अंक चढ्कर, नीफ़्टी (5017.00)94.70 अंक चढ्कर, बंद..
BHEL wins order worth Rs5780cr
Jain Irrigation : UP 7%+ BUDGET IMPECT
Corporate Snippets
± SAIL says hike in excise duty will be passed on to customers resulting in a Rs500-600 per ton price hike on long products. (BL)
± Bhushan Steel plans to invest about Rs280bn to set up a value-added steel plant in Karnataka. (DNA)
± Maruti Suzuki would raise prices between Rs3,000 to Rs13,000 across various models, with immediate effect. (DNA)
± Cement companies across all regions have increased prices in the range of Rs10-12 per bag to offset the twin effects of hike in excise duty and rise in diesel rates. (ET)
± RIL is on the verge of losing its bid for bankrupt petrochemical company Lyondell-Basell, as it baulks at rising valuation due to the recovering global economy. (ET)
± Coal India will increase its spending by three times to Rs98bn in the next financial year, primarily to fund its expansion and acquisition programmes. (FE)
± Hindustan Dorr-Oliver has acquired Sheffield-based DavyMarkham, a 180-year-old company involved in design, manufacture and assembly of large equipment used in mining, power, oil, gas and nuclear sectors. (BS)
± Tata Steel rules out raising equity to meet covenants. (BS)
± MphasiS Ltd is scouting for a company with revenues in the region of US$45-60mn and having a good presence in the cloud computing space, with a view to growing its Infrastructure and Technology Outsourcing (ITO) business. (BS)
± SAIL to spend ~Rs123bn in the next financial year largely to fund its mega expansion programme. (FE)
± Bhushan Steel would spend Rs280bn to build a 6 lakh tonnes steel plant in the Bellary region of Karnataka. (ET)
± Nabard plans to provide Credit Plus services through the Farmers’ Clubs. (BS)
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Event Update: Oil & Gas - Fuel Price Hike & Budget Impact
± Hike in customs duties and excise duties on crude and petroleum products
± Petrol and diesel prices raised to offset budget impact
± GRMs to be lower on account of lower duty differential
± Hikes to increase inflation by 20bps
± Further price hikes and de-regulation warranted
± GRMs to stabilize at current levels
± Sector to underperform unless de-regulation happens
Event Update: Automobiles - Budget Impact
± Higher excise duties to impact demand in the near term
± Higher disposable income on back of change in personal tax slabs to drive long term demand
± Higher fuel prices could impact profitability of fleet operators
± Thrust on rural employment generation
± Price hike by OEMs to cushion margin impact
± Higher weight on R&D deduction to increase investment for fuel efficient and less polluting technology
Pre Market Commentary ...
Today,i nvestors have had a long weekend to put their knowledge at work after the budget. With the major event risk out of the way, a lot will again depend on how the global events play out. The market is expected to open on a positive note. Stock-specific and sector-specific activity will be the order of the day as investors understand the impact of the budget on their holdings.
Asian stocks have pared their gains after a positive start. US stocks climbed on Monday taking the Nasdaq and S&P 500 into positive zone for the year. AIG's $35 billion asset sale and a some mergers in the pharma space brought some cheer. A Greek bailout package is being closely watched and could have a bearing on the market sentiment. The consumption story is here to stay. With the budget putting in more money in the hands of the consumers, a lot of consumption-related stocks will see renewed action.
The EXIM numbers and sales numbers from auto and cement firms will be among the data points tracked today.
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