Friday, May 21, 2010
सेन्सेक्स (16445.61) -74.07 अंक गिरकर, नीफ़्टी (4931.15) -16.45 अंक गिरकर, बंद.
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INDIAINFO 45days FD
Buy and Hold INDIAINFO AT and below 100
and below hold for 114,119,124
and plus in 45 days
SURE SHOT
save this message,
and below hold for 114,119,124
and plus in 45 days
SURE SHOT
save this message,
European market update: FTSE index down 0.95%, CAC index down 1.02% and DAX index down 1.12%
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Jaypee Infratech lists at Bourses below IPO
Jaypee Infra-tech got listed in the Stock Exchanges today , Jaypee infra which came out with a IPO in the range of 102 – 107 rs , Set the IPO final price at 102 rs , the subsidiary of Jaiprakash Associates finally got listed today in the exchange at a price of Rs 98 and at 10 or so its trading at 90 or so.
Delivery Call .. BUY AND HOLD
Buy RIL at 980and below
for 90 days
target 1040 plus
www.northpole77.com and below
FIIs were net sellers of Rs6.57bn in the cash segment on Thursday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs7.21bn. In the F&O segment, the foreign funds were net sellers of Rs2.21n. FIIs were net sellers of Rs14.74bn in the cash segment on Wednesday, as per the SEBI data.
Results Today:
Edelweiss, Force Motors, Gammon Infra, Inox, ITC, Jyoti Structures, Redington India, Sadbhav Engineering, Take Solutions, Varun Shipping and Zylog Systems.
Corporate Snippets
Bharti Retail plans to roll out stores in South India soon, as part of its plans to become a national retailer. (BS)
SBI has decided to scale down its branch expansion plan and is now expected to open around 500 branches during the current financial year, as against nearly 1,000 proposed earlier. (BS)
Jindal Steel & Power is buying Oman-based Shadeed Iron & Steel for US$464mn (Rs20.9bn) to expand its reach to West Asia. (BS)
After a delay of nearly a year, auto major Mahindra & Mahindra is now all set to begin its US expedition in its new compact diesel pick-up truck by end of December 2010. (BL)
Reliance Infrastructure has won its tenth road project worth Rs9.25bn, from the National Highways Authority of India. (BL)
SBI has decided to scale down its branch expansion plan and is now expected to open around 500 branches during the current financial year, as against nearly 1,000 proposed earlier. (BS)
Jindal Steel & Power is buying Oman-based Shadeed Iron & Steel for US$464mn (Rs20.9bn) to expand its reach to West Asia. (BS)
After a delay of nearly a year, auto major Mahindra & Mahindra is now all set to begin its US expedition in its new compact diesel pick-up truck by end of December 2010. (BL)
Reliance Infrastructure has won its tenth road project worth Rs9.25bn, from the National Highways Authority of India. (BL)
Pre Market Commentary ...
Speculation has been rife about a possible disintegration of the euro-zone and erosion in its common currency despite several measures to stem the debt contagion. This has sent markets into a tailspin as risk appetite has taken a severe beating owing to concerns that the European debt disaster could derail the worldwide recovery. As a result, the bulls have their backs against the wall and may remain on the defensive if the European crisis doesn’t subside.
Brace yourselves for another gap-down opening. Should the global picture change for the better, we may see the key indices do a bungee-jump, but then at the end of it you may still be left hanging. Betting on a major rally from here on would be like catching a falling knife. Fear is running very high amid significant external uncertainties. The bravehearts among you could look at snapping up good bargains at lower levels, but we would advise against any kind of adventure right now.
The NSE Nifty has failed to rebound after slipping below 200-day DMA and could be headed for further downside. What’s worse the S&P 500 index in the US has cracked below 200-day DMA thanks to disappointing economic data and nagging worries over the euro-zone debt crisis. Meanwhile, the US Senate has approved the most significant increase in the regulation of US banks since the Great Depression. The bill now goes to the House to iron out difference.
Asian markets are trading sharply lower, with many bourses at year-to-date lows. European shares were also battered though the euro recovered following the release of a few weak economic reports in the US.
Brace yourselves for another gap-down opening. Should the global picture change for the better, we may see the key indices do a bungee-jump, but then at the end of it you may still be left hanging. Betting on a major rally from here on would be like catching a falling knife. Fear is running very high amid significant external uncertainties. The bravehearts among you could look at snapping up good bargains at lower levels, but we would advise against any kind of adventure right now.
The NSE Nifty has failed to rebound after slipping below 200-day DMA and could be headed for further downside. What’s worse the S&P 500 index in the US has cracked below 200-day DMA thanks to disappointing economic data and nagging worries over the euro-zone debt crisis. Meanwhile, the US Senate has approved the most significant increase in the regulation of US banks since the Great Depression. The bill now goes to the House to iron out difference.
Asian markets are trading sharply lower, with many bourses at year-to-date lows. European shares were also battered though the euro recovered following the release of a few weak economic reports in the US.
Thursday, May 20, 2010
सेन्सेक्स (16519.68) 111.19 अंक चढ्कर, नीफ़्टी (4947.60) 27.95 अंक चढ्कर, बंद..
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European market update: FTSE index up 0.9%, CAC index up 0.6%, DAX index up 0.4%
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FIIs were net sellers of Rs13.83bn in the cash segment on Thursday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs563.5mn. In the F&O segment, the foreign funds were net buyers of Rs11.22bn. FIIs were net sellers of Rs4.39bn in the cash segment on Tuesday, as per the SEBI data.
Corporate Snippets
Government has doubled the price of natural gas produced by ONGC and OIL India. (ET)
RIL curtails production of crude oil in KG D6 field due to cyclone Laila. (ET)
Tata Power has approached Bombay High Court against a state government order to continue supply to Reliance Infra at regulated price. (BS)
M&M to launch its pick-up trucks in US by end of 2010. (BS)
Kingfisher airlines likely to speed-up restructuring process. (BS)
Ranbaxy European unit has recalled select batches of 3 drugs. (BS)
Maruti plans to launch a new alto with K-series engine of higher capacity. (BS)
BSNL and MTNL may get waiver on 3G spectrum payments. (ET)
RIL curtails production of crude oil in KG D6 field due to cyclone Laila. (ET)
Tata Power has approached Bombay High Court against a state government order to continue supply to Reliance Infra at regulated price. (BS)
M&M to launch its pick-up trucks in US by end of 2010. (BS)
Kingfisher airlines likely to speed-up restructuring process. (BS)
Ranbaxy European unit has recalled select batches of 3 drugs. (BS)
Maruti plans to launch a new alto with K-series engine of higher capacity. (BS)
BSNL and MTNL may get waiver on 3G spectrum payments. (ET)
Pre Market Commentary ...
It’s the summer of discontent for world markets and the bulls may continue to face the heat for some time to come. As for today, thankfully, the outlook appears slightly better. US stocks recovered from session lows to end moderately down. Asian markets are flat to positive. The dollar index has come off a bit while the euro has regained some lost ground.
Still, one should continue to be on guard as things remain volatile and uncertain amid considerable external risks. The euro-zone debt crisis is clearly the culprit and despite a spate of bailout efforts investors remain skeptical and pessimistic. The German plan to ban naked short selling of certain financial instruments has added to the woes.
Still, one should continue to be on guard as things remain volatile and uncertain amid considerable external risks. The euro-zone debt crisis is clearly the culprit and despite a spate of bailout efforts investors remain skeptical and pessimistic. The German plan to ban naked short selling of certain financial instruments has added to the woes.
Wednesday, May 19, 2010
सेन्सेक्स (16408.49) - 467.27 अंक गिरकर, नीफ़्टी (4919.65) - 146.55 अंक गिरकर, बंद.
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European market update: FTSE index down 1.5%, CAC index down 2% and DAX index down 1.35%
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Elecon Engineering
Shares of Elecon Engineering erased early gains and ended flat at Rs79.65. The company announced that it won an order of Rs519.2mn from client for design, engineering, manufacturing, testing, supplying, erecting and commissioning of Material Handling Equipments and other Equipments. The scrip opened at Rs80.7 it touched an intra-day high of Rs81.3 and a low of Rs78.9 and recorded volumes of over 0.2mn shares on BSE.
TCS
Shares of TCS slipped by 1% to end at Rs738 after reports stated that the U.K government may review an US$850mn outsourcing agreement signed with the company. UK may split large outsourcing orders into smaller deals to reduce government spending, reports added. The scrip opened at Rs741 it touched an intra-day high of Rs742 and a low of Rs727 and recorded volumes of over 0.25mn shares on BSE.
Titagarh Wagons
Shares of Titagarh Wagons surged by over 5% to end at Rs324 after the company’s fourth- quarter profit rose to Rs259.4mn from Rs103.6mn from a year earlier. The scrip opened at Rs307 it touched an intra-day high of Rs332 and a low of Rs305 and recorded volumes of over 0.1mn shares on BSE.
Results Today:
Agro Tech Foods, Amara Raja Batteries, ENIL, Everonn, Hindustan National Glass, HSBC Investdirect, Jindal Drilling, KEI Inds, Pidilite, REC, Shree Ganesh Jewellery, Transport Corp, Vinati Organics and Visa Steel.
Corporate Snippets
ICICI Bank will take over the crisis-ridden private sector Bank of Rajasthan and has offered a swap ratio of 1:4.72 for the deal - 25 shares of ICICI Bank for 118 shares of Bank of Rajasthan. (FE)
RIL and RNRL began informal talks for a possible gas supply agreement in line with the Supreme Court verdict. (FE)
TCS’s outsourcing contract from the UK government for managing a state-sponsored pension scheme may be among the several projects that will be put on the block by the new regime in London. (BL)
ONGC said that it has been asked by the government to pay Rs50bn to cover refiners' losses from selling fuels below cost during January-March quarter. (FE)
SAIL has urged engineering exporters to enter into long-term contracts with his organization to overcome the shortage of raw materials facing them. (BL)
RIL and RNRL began informal talks for a possible gas supply agreement in line with the Supreme Court verdict. (FE)
TCS’s outsourcing contract from the UK government for managing a state-sponsored pension scheme may be among the several projects that will be put on the block by the new regime in London. (BL)
ONGC said that it has been asked by the government to pay Rs50bn to cover refiners' losses from selling fuels below cost during January-March quarter. (FE)
SAIL has urged engineering exporters to enter into long-term contracts with his organization to overcome the shortage of raw materials facing them. (BL)
Pre Market Commentary ...
Make no mistake; risk aversion is here to stay, so is uncertainty and volatility. The euro has hit a fresh four-year low against the US dollar. The CBOE VIX ended upwards of 33 overnight. The dollar index is trading above 87. Risky assets like stocks, commodities, and emerging market currencies are being shunned. Safe havens like gold and US treasuries are being snapped up. Germany is banning some bearish bets on sovereign bonds and certain financial stocks.
Markets are pre-occupied with the euro-zone debt crisis and its potential fallout on the global economy. The trend is unlikely to change anytime soon. We see another weak start to the day as Asian markets are mostly in red following the overnight fall on Wall Street. Ironically, markets in Europe ended smartly higher. One has to watch how they open today. The NSE Nifty may yet again test 200-day DMA of 4987 today. It will be interesting to see if it rebounds from there or slips under it
.
The "headline risk" is expected to persist for a while considering the external situation. The bad news is overwhelmingly negative right now. That must turn substantially in favour of the bulls if the market is to reverse course and head north. FIIs too should resume their buying spree. A good start and overall healthy monsoon season will go a long way in bolstering India's growth and in reviving investor confidence.
Markets are pre-occupied with the euro-zone debt crisis and its potential fallout on the global economy. The trend is unlikely to change anytime soon. We see another weak start to the day as Asian markets are mostly in red following the overnight fall on Wall Street. Ironically, markets in Europe ended smartly higher. One has to watch how they open today. The NSE Nifty may yet again test 200-day DMA of 4987 today. It will be interesting to see if it rebounds from there or slips under it
.
The "headline risk" is expected to persist for a while considering the external situation. The bad news is overwhelmingly negative right now. That must turn substantially in favour of the bulls if the market is to reverse course and head north. FIIs too should resume their buying spree. A good start and overall healthy monsoon season will go a long way in bolstering India's growth and in reviving investor confidence.
Tuesday, May 18, 2010
सेन्सेक्स (16875.76) 40.20 अंक चढ्कर, नीफ़्टी (5066.20) 06.30 अंक चढ्कर, बंद
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FIIs were net sellers of Rs12.24bn in the cash segment on Monday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs3.82bn. In the F&O segment, the foreign funds were net sellers of Rs9.83bn. FIIs were net sellers of Rs2.05bn in the cash segment on Friday, as per the SEBI data. Mutual Funds were net sellers of Rs2.05bn in the cash segment on the same day.
Results Today:
Bilpower, Bombay Rayon, Chennai Petro, Grindwell Norton, ICRA, JK Lakshmi Cement, Man Industries, Motherson Sumi, Munjal Showa and Omnitech Info.
Corporate Snippets
ABB has made an offer to increase stake in its Indian subsidiary by 22.89% at a cost of nearly US$1bn. ABB said it will buy 48.59mn shares at Rs900 per share, a 34% premium to last Friday’s closing price of ABB India shares. (ET)
Credit rating agency Fitch removed Bharti Airtel from its negative watch list in anticipation of an US$2bn equity infusion during the current fiscal, as well as hopes of better overall performance. (ET)
DLF confirmed it had decided to sell its stake in Aman Resorts, but a sale would exclude Aman’s New Delhi property. (ET)
Tata Steel is keen on forming a JV with Steel Authority of India (SAIL) to set up a steel plant. (ET)
Thermax has signed a five-year technology transfer agreement with Germany based Lambion Energy Solutions in the areas of energy generation from waste. (ET)
Credit rating agency Fitch removed Bharti Airtel from its negative watch list in anticipation of an US$2bn equity infusion during the current fiscal, as well as hopes of better overall performance. (ET)
DLF confirmed it had decided to sell its stake in Aman Resorts, but a sale would exclude Aman’s New Delhi property. (ET)
Tata Steel is keen on forming a JV with Steel Authority of India (SAIL) to set up a steel plant. (ET)
Thermax has signed a five-year technology transfer agreement with Germany based Lambion Energy Solutions in the areas of energy generation from waste. (ET)
Pre Market Commentary ...
The recovery may sure tempt you to believe things are settling down. We managed to bounce back after another rough start as European markets were relatively stable. US stocks too rebounded from session lows to end in the green. Asian markets are mixed this morning with Chinese market in the red yet again. Given the murky global outlook, we expect a subdued start to the proceedings. Sentiment may improve a little, provided there no further tremors on the external front. But, on the whole we expect a volatile yet rangebound session.
Technically, the levels to watch are 4950 on the downside and 5100-5200 on the way up. A close below 4900 could lead to some panic. A decisive breakout may continue to elude us till the Nifty sustains above 5300. For the time being, the broader market may hold more promise as the large caps appear to be fully priced. In terms of events, the latest GDP data will be out on May 31. Monsoon’s progress will also have some bearing on market mood in the near term. We are certainly not out of the woods yet as far as global factors are concerned, and so it would be wise to remain cautious. Fresh buying could be avoided for now.
Technically, the levels to watch are 4950 on the downside and 5100-5200 on the way up. A close below 4900 could lead to some panic. A decisive breakout may continue to elude us till the Nifty sustains above 5300. For the time being, the broader market may hold more promise as the large caps appear to be fully priced. In terms of events, the latest GDP data will be out on May 31. Monsoon’s progress will also have some bearing on market mood in the near term. We are certainly not out of the woods yet as far as global factors are concerned, and so it would be wise to remain cautious. Fresh buying could be avoided for now.
Monday, May 17, 2010
सेन्सेक्स (16835.56) -159.04 अंक गिरकर, नीफ़्टी (5059.90) -33.60 अंक गिरकर, बंद.
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European markets update: FTSE Index flat, CAC Index down 0.4% and DAX Index down 0.3%
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FIIs were net sellers of Rs3.82bn in the cash segment on Friday on a provisional basis, according to NSE web site. Local institutions were net buyers of Rs1.64bn. In the F&O segment, the foreign funds were net sellers of Rs20.47bn. FIIs were net buyers of Rs859mn in the cash segment on Thursday, as per the SEBI data. Mutual Funds were net buyers of Rs1.93bn in the cash segment on the same day.
Results Today:
Aksh Optifibre, Gail India, Godrej Properties, Karnataka Bank, L&T, Mundra Port, NTPC, Titagarh Wagons and Whirlpoll India.
Corporate Snippets
Videocon Industries will raise Rs22bn through a mix of qualified institutional placement, follow-on issue and preferential allotment. (BL)
SBI would come out with a retail bond issue of about Rs2bn in the first half of the year. (BS)
JSW Steel has completed the acquisition of nine coking coal mines in West Virginia in the US. (ET)
Larsen and Toubro has bagged a contract worth Rs15bn from the National Highways Authority of India. (BL)
ONGC Mittal Energy has found hydrocarbons in a Nigerian deepwater block. (BL)
SAIL is mulling setting up a steel project, at an estimated cost of Rs600bn, in Jharkhand. (TOI)
SBI would come out with a retail bond issue of about Rs2bn in the first half of the year. (BS)
JSW Steel has completed the acquisition of nine coking coal mines in West Virginia in the US. (ET)
Larsen and Toubro has bagged a contract worth Rs15bn from the National Highways Authority of India. (BL)
ONGC Mittal Energy has found hydrocarbons in a Nigerian deepwater block. (BL)
SAIL is mulling setting up a steel project, at an estimated cost of Rs600bn, in Jharkhand. (TOI)
Pre Market Commentary ...
The Indian stock market has slowed substantially after last year's stunning rally. The key indices remain stuck in a range even as the NSE Nifty has made several attempts at breaking free from the rangebound trading pattern. The European debt crisis has only made that task tougher. In fact, there are chances of the market falling further if the situation in Europe doesn't improve fast enough. China's red-hot economy is another cause for worry even as the US continues to exhibit anemic recovery and the UK is struggling with high budget deficit
.
Back home, inflation represents the biggest challenge - for the market as well as for the policymakers. All eyes are now on monsoon. Talk of poor start to the rainy season spooked the sentiment on Friday. Hopefully, the IMD's prediction will prove wrong again. Our forecast for today is another weak start following the renewed bloodbath in the US and European markets. Asian markets are in the red this morning. Don't get fooled by any intra-day relief rallies, as risk-reward equation is still not favourable for the bulls.
.
Back home, inflation represents the biggest challenge - for the market as well as for the policymakers. All eyes are now on monsoon. Talk of poor start to the rainy season spooked the sentiment on Friday. Hopefully, the IMD's prediction will prove wrong again. Our forecast for today is another weak start following the renewed bloodbath in the US and European markets. Asian markets are in the red this morning. Don't get fooled by any intra-day relief rallies, as risk-reward equation is still not favourable for the bulls.
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