Friday, December 24, 2010
RELINFRA; Intraday book profit at 807
all our call bang on target,
marry cristmas /////////////////////
marry cristmas /////////////////////
INDIA INFOLINE LIMITED Outcome of Board Meeting
India Infoline Limited has informed the Exchange that the Board of Directors of the Company at their Meeting held on December 23, 2010 approved the proposal of buy-back of Equity Shares under the authority of the Board of Directors Pursuant to the first proviso to section 77A (2)(b) of the Companies Act,1956 and the SEBI (Buy-back of Securities) Regulations 1998. The Board has approved the proposal of buy-back of Equity Shares of the Company upto an amount not exceeding 10% of the Paid-up Equity Capital and Free Reserves of the Company under the open market using Stock Exchange system, subject to a maximum price of Rs. 99/- per share and a maximum outlay of Rs.104 Crore.
Buy & Hold SBI at Rs2755 with SL of Rs2729 for Target Rs2808
our call trading strong
hold for target
hold for target
Buy Tata chemicals on dips
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Sector Watch: Tyre, Sugar & Banking
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Corporate Snippets
± Coal India to miss production target by 16mn tons this fiscal. (BS)
± Bharti Airtel has announced launch of a direct underground terrestrial link between India and China. (BL)
± Tata Motor’s Nano has received the good design award for 2010 from Chicago Anthenaeum. (ET)
± SCI has invited bids for commencing a ferry service between India and Sri Lanka from January. (BS)
± Adani Power has synchronized the countries first supercritical unit of 600MW plant at Mundra. (ET)
± The Board of Indian Hotels has cleared a proposal to issue shares and warrants amounting to Rs8.7bn to Tata Sons on preferential shares. (ET)
± Reliance MediaWorks has inked a MoU with Russian World Studios. (ET)
± Temasek picks over 3% stake in Max India. (ET)
Market Commentary ..
Onions and other veggies are making headlines for hitting the household budgets and adding to the UPA’s woes. Food inflation, which seemed to be softening, has surged to 12%. It could spike further up if the Government goes ahead with a hike in diesel and LPG. Crude oil is hovering around $91.51, amid optimism that the US economy is slowly getting back on track.
Meanwhile, the Indian markets seem to be suffering from the holiday syndrome, completely lacking excitement. December has been utterly forgettable for India even as “western” markets are enjoying a Santa Clause rally.
FIIs and other influential institutions have been on the sidelines, leading to a listless trend. We expect a slightly lower start and rangebound movement for the key indices.
Next week, there could be some action owing to the F&O expiry, but don’t bet on any significant progress. January will be interesting as markets react to the latest report card from India Inc. and the RBI review.
Thursday, December 23, 2010
Book Profit today call........... BANG ON TARGET
our call bang on target book profit
"Buy Jindal photos (210.60) with s/L Rs 200 target Rs 215, 218"
"Buy Jindal photos (210.60) with s/L Rs 200 target Rs 215, 218"
Buy FUTURE,
IOC Dec Future in range of Rs368.5 -370.5 for the target price of Rs378.5 with a stop loss placed at Rs363.5.Lot size: 500 ;' Remarks: Net maximum profit of Rs5,000 and net maximum loss of Rs2,500.
Buy and Hold...
Pantaloon Retail (BUY, above Rs371, Target Rs389): After hitting an interim peak of Rs501, stock has corrected nearly 34% and right now placed at long term support levels. With RSI trading in oversold terrain and displaying positive divergence on the short term charts, the risk reward favors for the upside. Based on hourly chart, stock has given breakout from a ‘symmetrical triangle’ which is likely to pave for smart upside of 7-8%. From candlestick point of view, stock has been making back to back ‘long lower shadow’ which also attributes bargain buying at lower levels. We advise buying stock above Rs371 with stop loss of Rs362 for target of Rs389.
± Government not in favour to include a provision in the Companies Bills that would have mandated firms to spend 2% of their profits on social causes.(ET)
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Corporate Snippets
± Gas leak kills 2 people in Dr Reddy’s Lab unit near Hyderabad, (ET)
± TCS has bagged a multi year outsourcing engagement from Hilton Worldwide for spearheading and transformation and management of core group of application platforms. (BL)
± BHEL bags three orders for setting up solar plant. (ET)
± Fortis Global Healthcare to acquire 30% stake in Australia’s Dental Corporation for about Rs4.5bn. (ET)
± Oil Ministry says the delay in deciding on Vedanta’s acquisition of Cairn India will not have any impact on the 9th round of NELP. (BS)
± NTPC keen to get LNG from Qatar by FY12. (BS)
± Tata Power signs deal for solar project in Gujarat. (BL)
± Spanco gets Rs850mn project from Goa power utility. (BL)
A2Z Maintenance shares will list today.
A2Z at 352.50 about 5-7% below listing,
POOR LISTING, no magic for Rakesh Junjunwala
POOR LISTING, no magic for Rakesh Junjunwala
Market Commentary ..
Key indices are set to open a tad higher, supported by positive finish in the US and Europe. Crude oil has crossed $90, which again is not making life any easier for the policymakers. Copper prices are also near record highs after appreciating ~30% this year.
The political scene is in a state of tumult. The BJP has upped its ante demanding the Prime Minister’s resignation or a JPC probe. The Finance Minister has offered to hold a special parliament session to break the logjam and discuss the Opposition demand for a JPC to probe the 2G spectrum allocation scandal. Spiraling prices of onions, the Gujjar agitation and Mamata Banerjee threatening to go alone in WB polls are just some of the added worries for the UPA.
Back to markets, trading volumes have eased off ahead of Christmas and year-end. Overall trend has turned rather lackluster. Asian markets are largely subdued. Japanese markets are shut today. Concerns on the Korean geo-political situation may prevail as Seoul is likely to conduct more military exercises. Most overseas markets will be shut on Friday ahead of Christmas.
Wednesday, December 22, 2010
Buy and Hold Tata Motors
Buy and Hold Tata Motors
at 1365 with SL of Rs1330 for
target of Rs1415, 1420
at 1365 with SL of Rs1330 for
target of Rs1415, 1420
Buy and Hold....
HDFC (BUY, above Rs700, Target Rs720): The stock has been trading in a narrow band taking structure of ‘Symmetrical Triangle’ which is considered as bullish consolidation, from first week Of December 2010. Yesterday’s close above Rs697 has signaled a breakout from the above mentioned pattern on the line chart. We expect the stalled momentum to reignite in the coming days and stock may head towards target of Rs720. A breakout from inverted Head & Shoulders pattern is also seen on the daily RSI. We advise buying the stock above Rs700 with stop loss of Rs690 for target of Rs720
Corporate Snippets
± Gas transportation companies such as GAIL and Reliance Gas Transportation Infrastructure Ltd may soon be able to charge a lower rate than that determined by the PNGRB or those earlier approved on a cost-plus basis. (BS)
± Mahindra & Mahindra introduced its 4X4 off roader the Thar CRDe in India. (ET)
± The 3,000 MW NTPC power plant at Kaniha, the second largest power plant in the country, has slipped into critical condition with barely one day coal stock at its stockyard. (BS)
± Tata Motors is developing special variants of the Nano for the European and US markets, which will be launched in 2011 and 2012, respectively. (BS)
± BHEL is mulling a partnership with Japanese automaker Toyota to make electric vehicles in India. (BL)
± Tata Group has forayed into marketing essential commodities like pulses under its brand. The group’s agro-chemical arms Tata Chemicals and Rallis India will procure pulses from farmers and sell it in the local market. (ET)
± Bombay High Court said it cannot decide on Lavasa Corporation’s writ petition against the ministry of environment and forest’s stop-work order in isolation, and all litigation against the company’s proposed hill station township project near Pune needed to be clubbed together. (ET)
± Jain Irrigation will grow its presence in contract farming and food processing apart from expanding in drip irrigation for which the company has charted out a Rs3.5bn capital expenditure plan. (BL)
Market Commentary ..
There’s no real jingle on the street as yet but looks like world markets are in no mood to spoil their Christmas party. But Peace on earth remains a distant hope with terror alerts just being issued in cities like Mumbai and Ahmedabad.
Globally, the ‘ifs’ and ‘buts’ seem to be temporarily set aside; the European markets have shown pretty good resilience lately despite a spate of recent downgrades for the debt-strapped eurozone nations. Meanwhile, the US markets have been steadily pulling away amid signs of improvement in the economic landscape. Watch out for today’s revised Q3 GDP data.
Tuesday, December 21, 2010
Sector Watch: I.T., Pharma & Steel
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± Advance tax payments by India’s top 100 corporate taxpayers rose 18.7% yoy in December. (ET)
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Market Commentary ..
We expect a higher start and a better day in office for the bulls today even as a few external irritants remain. Lack of buying from the big institutions has led to a drop on the volume front. Price erosion appears to have been done with on most counters though one cannot really expect some Hero Honda kind of run in large counters.
Easing tensions between the two Koreas coupled with strength in the US market will likely perk up the mood in India. European stocks too managed to post modest gains despite persistent concerns over sovereign debt issues. Asian markets are mostly up this morning with the Kospi pacing the advance.
The key indices will likely remain choppy and rangebound in the near term. The Nifty is likely to remain in a range of 5750-6050. Support is expected to kick in at around 5860 while resistance is likely at around 6040.
The dollar has inched higher while the euro remains subdued. Crude oil is hovering around the $90 per barrel mark. Gold and other commodities are firm as well.
FO..............
Buy Cipla Dec Future in range of Rs367.5 -369.5 for the target price of Rs377.5 with a stop loss placed at Rs 362.5.
Lot size: 1000
Remarks: Net maximum profit of Rs10,000 and net maximum loss of Rs5,000.
Buy and Hold....
Colgate Palmolive (BUY, between Rs861-Rs865, Target Rs910): Colgate Palmolive on the daily chart has signaled breakout from the symmetrical triangle with expansion in the volumes. The breakout was accompanied with positive crossover in the RSI with prices crossing above the short term moving average at Rs867. However, we believe there would be pullback attempt to test solidity of support at Rs860 which should also become decent entry point. As prices currently hovering in the middle of Bollinger band, immediate target can be placed at Rs910 which is upper Bollinger band. The stochastic also is yet to enter any overbought position which suffice better risk reward ratio from the current levels. We advise buying the stock in the range of Rs861-865 with stop loss of Rs845 for target of Rs910.
Corporate Snippets
± Reliance Industries plans to shut its fluid catalytic cracker (FCC) of about 200,000 barrels per day (bpd) at its older refinery at Jamnagar at the end of January. (ET)
± Reliance Industries' prolific D-1 and D-3 gas fields off the East Coast, which have seen a 15% drop in production in recent times, are likely to touch a peak output of 80mn standard cubic metres per day in 2012-13. (ET)
± Tata Chemicals is set to acquire British Salt, a soda ash raw material maker in the UK, for £93mn (Rs6.6bn). (BS)
± Coal India (CIL) has signed a MoU with the Shipping Corporation of India (SCI) to create a JV to provide end-to-end logistics solutions for bringing internationally-produced coal into the country. (BS)
± The Munjal family, promoters of the Hero Group, is likely to have over 50% stake in a special purpose vehicle to hold Honda's 26% share in Hero Honda, following termination of the joint venture. (BS)
± Glenmark has received approval from US health regulator for its generic Felodipine tablets, an anti-hypertensive drug, in the American market. (ET)
± Union Bank of India has raised its benchmark prime lending rate by 50bps to 13.25%. It has also raised retail term deposit rates across various maturities by 75-100bps and interest rate on one-year deposits to 8%. (ET)
± Reliance Infrastructure has enhanced the capacity of its existing network by adding about 300 sub-stations and 450 kilometres of cable network to its Mumbai distribution. (ET)
Monday, December 20, 2010
सेन्सेक्स (19888.88) +24.03 अंक चढ्कर, नीफ़्टी (5947.05) -1.70 अंक गिरकर, बंद.
Fantastic performance of our today's recommendation . . .
our friday call ................................bang bang ...bang..
Buy ICICI bank (1105.75) with s/L Rs 1100 target Rs 1115, 1120
Buy Tata motors (1347) with s/L Rs 1240 target Rs 1355, 1365
Buy SAIL (188.25) s/L 187 target 190, 191
Buy Navneet (60.75) with s/L 59 tgt 62, 63
Buy Hero Honda (1681.70) with s/L 1675 tgt 1700
Buy SAIL (188.25) s/L 187 target 190, 191
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± Videocon plans to sell stake in energy business. (ET)
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± Food inflation rose for the fourth week to 9.46% in the week ended December 4. (ET)
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Hold / Buy on dips
Cipla (BUY, above Rs360, Target Rs373): Cipla on the daily after being breakout from long term inverted head and shoulder pattern has been consolidating in a minor ‘symmetrical triangle’ for more than a week. The volumes have been shrinking as prices move towards the apex of the pattern. However as triangles are considered as a continuation pattern, the existing trend is likely to get continued after the breakout, which in this case remains up. The stock has also managed to close above its 10-DMA on Thursday’s trading session which is likely to ignite positive momentum in the near term. We advise buying the stock above Rs360 with stop loss of Rs353.
Market Commentary ..
With hardly any effort from the bulls to shore up sentiment, today’s start is likely to be flat to steady. Things could get better later on provided the external situation improves.
The eurozone debt issues coupled with the geo-political tension on the Korean peninsula could cloud the local sentiment. FIIs have taken some money off the table and may remain on the sidelines for a while.
It has been rather volatile of late as far as the Indian market is concerned and the trend might not change much for the remainder of December. While the Indian market has struggled post Diwali, the overseas markets seem to have held on well. Wall Street is currently at a two-year high. Even the European markets have gained this month, notwithstanding the sovereign debt problems. The much-dreaded rate hike from China hasn’t materialised either. Back home, the RBI has taken the much expected pause in rate tightening while announcing measures to ease the cash crunch. Advance tax numbers have raised hope of a strong Q3. Inflation seems to have softened but still remains a threat. The EGoM this week on diesel and LPG prices will be an important event to watch out for.
Corporate Snippets
± Tata Steel is in negotiations to dispose off its South African plant and assets to raise upwards of US$150mn in cash. (ET)
± ONGC approves stock split and a bonus share issue. (BS)
± NMDC’s proposed JV with Russia’s Severstal will give the latter direct access to the Indian steel market while also diversifying the local mining company into steelmaking to boost revenues. (ET)
± TCS bagged an Rs850mn three-year deal for implementing smart card-based Financial Inclusion Solution for Indian Bank. (ET)
± UK’s drug regulator asks Ranbaxy to recall three batches of Pravastatin, its anti-cholesterol tablets, on failure to update safety warnings in its information leaflets. (BS)
± Coal India has put in a bid to buy US-based Sydney complex, an arm of Massey Energy, for about US$1bn. (ET)
± Tata Steel is contemplating the possibility of bidding for Ispat Industries. (ET)
± Fitch says the asset quality of SBI remains an area of concern due to its high non-performing loans. (ET)
± MoEF has accused Adani Group’s Mundra Port and Special Economic Zone of destruction of mangroves in Gujarat. (ET)
± ONGC Videsh hopes to sign an agreement to take a stake in the Trebs and Titov in the Arctic. (ET)
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