Wednesday, April 25, 2007
no postings today
due to nt good health i am not posting nything rest ll b sended u through yahoo messanger.
Monday, April 23, 2007
INTRADAY CALLS
DUE VOLATILITY NO INTRADAY CALLS FOR TODAY IF FIND ANYTHING SUITABLE THEN SURE SENDED BY YAHOO MESSANGER.
nifty outlook for 24.04.07
hi.........
no upper targets for today and support will be earlier resistance i.e 4040 if it breaks then a sudden fall can b watch upto 3970 as today is very important evnt i.e rbi meeting .but after these all i am expecting a weak opening as all us markets is cracking down so in international context we can see a fall in our indian markets also as crr is concern if it was unchanged then i am expecting any big upmove as surprise to markets but if it increases then it a big surprise for markets and market will dam sure reacts badely with this so if u dont track today market stay out for today ...b cautious ..high alert .
no upper targets for today and support will be earlier resistance i.e 4040 if it breaks then a sudden fall can b watch upto 3970 as today is very important evnt i.e rbi meeting .but after these all i am expecting a weak opening as all us markets is cracking down so in international context we can see a fall in our indian markets also as crr is concern if it was unchanged then i am expecting any big upmove as surprise to markets but if it increases then it a big surprise for markets and market will dam sure reacts badely with this so if u dont track today market stay out for today ...b cautious ..high alert .
our short term call
our short term call given on yahoo messanger of mahaseamless@524 almost achieved it's target today touches 565 and target is of rs 575........enjoy ...
our short term call
our short term call given on yahoo messanger of mahaseamless@524 almost achieved it's target today touches 565 and target is of rs 575........enjoy ...
post market analysis
e rThe market chose to remain cautious on the first day of the week, ahead of key events that are to unfold. The outcome of these events have the potential to swing the market either ways.
The first and the most significant of events is the Reserve Bank of India (RBI)’s monetary policy, which will be announced by noon tomorrow. The central bank is expected to hold interest rates steady at its policy review on Tuesday (24 April), although analysts say tightening is not over yet and the central bank may decide to take steps to curb capital inflows that have been driving up the rupee. The central bank will also set out its forecasts for the year, including that on inflation and growth.
Prior to this, it has already raised the reserve requirement for banks three times since December 2006 and raised its main lending rate five times since early-June 2006, to try and curb credit growth as well as inflation.
Also, intense volatility is expected ahead of the expiry of the April 2007 derivative contracts on Thursday (26 April 2007).
The market, which was highly volatile throughout the day, finally settled with modest gains. The benchmark Sensex was in great nick at the start of the session, but pared gains in the second half of trading, as profit-booking set in at the higher levels.
The 30-share BSE Sensex gained 30.92 points, to end at 13,928.33. It had opened firm, at 13,972.81, and vaulted to a high of 14,046.52, as buying continued. Its low for the day is 13,879.39.
The S&P CNX Nifty was up 1.55 points (0.04%), to finish at 4,085.10.
As per provisional data, FIIs were net sellers to the tune of Rs 142.49 crore today. Domestic institutional investors were net buyers to the tune of Rs 258 crore today.
The Sensex had last hit the 14,000 mark on 23 February 2007 and had closed above the coveted mark for the last time on 22 February 2007. The Sensex’s all-time peak is of 14,723.88, which was attained on 9 February 2007. The benchmark Sensex’s all-time closing high is 14,652.09, of 8 February 2007.
The market-breadth, which measures the overall health of the market, ended negative, as selling of smallcap and mid-cap shares began. On BSE, 1,387 scrips declined compared to 1,177 that advanced. A total of 83 stocks remained unchanged. The BSE Mid-Cap Index ended at 5,702.44, a gain of 3 points (0.06%), while the BSE Small-Cap Index settled at 6,970.92, down 3 points (0.05%) from its previous close.
The total turnover on BSE was unusually high compared to that in the previous few sessions, thanks to a number of block deals that were executed in a lot of counters.
Three massive block deals of 93.21 lakh shares each (amounting roughly 1.8% of stake), struck in the Gujarat Ambuja Cements (GACL) counter, at an average Rs 116.05 per share on BSE were a salient feature of opening trade. The stock was down 0.61% to Rs 114.75, on total volumes of 3.03 crore shares. Undoubtedly, it was the top-traded counter on BSE with a turnover of Rs 352.55 crore. As per reports, Holcim, the world’s second-biggest cement maker, raised its stake in the Indian cement major to nearly 30% in a deal worth $78 million.
Phoenix Mills was the fourth most-traded counter on BSE with a turnover of Rs 119.95 crore. Two block deals of 2.43 lakh shares were executed in the counter on BSE, at an average Rs 1581 per share in early trade.
A block deal of 10.20 lakh shares was struck in the Cairn India counter, at Rs 132 per share, by 14:25 IST.
As a result of the block deals, the total turnover clocked a neat Rs 4111.37 crore on BSE while the total market-wide turnover was at Rs 45203.74 crore.
Among the 30-Sensex pack, 16 declined while the rest advanced.
Shares from the metal pack, bucked the sluggish trend. The BSE Metal Index closed at 9,896.84, up 2%, and was the top-gainer among the sectoral indices.
Tata Steel surged 4.71% to Rs 559.50, on a high volume of 22.96 lakh shares, and was the top-gainer. It had advanced to a high of Rs 560, in intra-day trade.
Maharashtra Seamless (up 5.92%), Jindal Steel (up 5.08%), Sail (up 0.20%), and Jindal Saw (up 2.25%) were the other gainers from the metal space.
REL (up 2.10% to Rs 521.75), Hindalco (up 0.80% to Rs 147.85) and Satyam Computers (up 0.85% to Rs 480.50) were the other gainers.
Reliance Communications advanced 1.62% to Rs 463.80, on expectations of strong earnings growth, driven by a robust rise in the subscriber base and an increased penetration of value-added services. Reliance Communications will announce its results on 30 April 2007.
Bharti Airtel, however, was down 0.95% to Rs 837.55, after striking an all-time high of Rs 867.80. Bharti Airtel unveils its Q4 results on 27 April 2007.
Index heavyweight Reliance Industries (RIL) was up 1.10% to Rs 1558, on a volume of 6.24 shares. It had advanced to a high of Rs 1560, while its low was at Rs 1527.
Drug major Ranbaxy Laboratories lost 0.37% to Rs 342.05, after investing more than $20 million (over Rs 83 crore) in the Romanian subsidiary, Terapia Ranbaxy. The move is a part of the company’s strategy to make the subsidiary its hub for Europe and Commonwealth of Independent States (CIS).
Terapia SA, an 86-year-old company, was acquired by Ranbaxy for $324 million (Rs 1,347 crore) in June, last year. The combined operations of Terapia and Ranbaxy established the largest Romanian generics company, with more than 1,200 employees, of which 350 form the largest professional field force in the Romanian pharmaceutical market. Terapia has a manufacturing plant in Romania, which Ranbaxy is now in the process of upgrading.
Ranbaxy had invested about $10 million (over Rs 40 crore) last year in Terapia and was looking at a similar investment in the same, post-acquisition, a Romanian news paper, Ziarul Financier, had said yesterday quoting Peter Burema, President of Ranbaxy’s global pharmaceutical division.
Cigarette major ITC was the top-loser, down 2.49% to Rs 156.60, on volumes of 17.18 lakh shares. It had also sunk to a low of Rs 154.85.
Banking stocks settled lower, ahead of the Reserve Bank of India (RBI)’s monetary policy meeting tomorrow. SBI (down 1.80% to Rs 1055.40), HDFC Bank (down 0.87% to Rs 986) and ICICI Bank (down 0.15% to Rs 913) declined.
Tata Power Company surged 4% to Rs 568, after it acquired Coastal Gujarat Power, a special purpose vehicle (SPV) formed for Mundra Ultra Mega Power Project (UMPP). A formal execution of the documents took place between Power Finance Corporation (PFC) and Tata Power, under the guidance of the Ministry of Power, Delhi. A performance bank guarantee of Rs 300 crore was provided by the company in favour of PFC. Coastal Gujarat Power has also signed power purchase agreements (PPAs) with seven procurers (distribution licensees) for the sale of contracted capacity and supply of 4000 MW electricity to these licensees but it delineates responsibility of procurers and company for the next important milestone. It also nominates Gujarat Distribution Company as the lead procurer on behalf of all procurers.
ABB gained 2.10% to Rs 3932, on continued buying, expecting a strong set of Q1 March 2007 results. ABB unveils Q1 results on 26 April 2007. Six brokerages expect 26.8 - 50.7% growth in ABB’s Q1 net profit, between Rs 65 crore and Rs 77.30 crore, compared to a net profit of Rs 51.30 crore in Q1 March 2006. Sales are seen rising 25 - 49.2%, between Rs 1003.60 crore and Rs 1198.20 crore, from Rs 802.91 crore in the March 2006 quarter.
Titan Industries plunged 6.20% to Rs 948, after the company reported a 18.5% decline in net profit in the March 2007 quarter. Titan Industries has reported a 18.50% decline in its net profit in the March 2007 quarter at Rs 30.32 crore (Rs 37.21 crore). Net sales surged 39.5% to Rs 605.83 crore from Rs 434.15 crore.
Sun Pharmaceutical Industries plunged 10.61% to Rs 1055, after the stock began trading ex-demerger of its R&D division into a separate company. On 5 April 2007, Sun Pharmaceutical Industries announced that its shareholders will get a share of Sun Pharma Advanced Research Company, which is being spun off for every share they held in Sun Pharmeceuticals. The company has fixed 30 April 2007, as the record-date for this purpose. Sun Pharma Advanced Research Company will be seperately listed on the bourses in due course.
Syngenta India rose by its maximum daily limit of 20% to Rs 625.20, after its parent set an exit price of Rs 730-per-share to delist the company.
Lead acid batteries maker Exide Industries gained 6.48% to Rs 48.50. On Friday (20 April), the company reported strong Q4 March 2007 results. The net profit jumped 49% to Rs 38.51 crore, on 38% growth in sales to Rs 528.89 crore.
IT services firm iGate Global Solutions gained 6.1% to Rs 356.50. Earlier during the month, iGate reported 42% sequential growth in net profit for Q4 March 2007 at Rs 22.65 crore from Rs 15.95 crore in the December 2006 quarter. The software developer had at the time of unveiling Q4 results said, the US subprime mortgage woes were hitting its revenues.
Alfa Laval rose 5.94% to Rs 999. It was the fourth-biggest gainer from the ‘A’ group scrips of BSE. The company holds a board meeting on 25 April 2007, to consider March 2007 quarter results.
Maharashtra Seamless gained 5.92% to Rs 562.50, ahead of its March 2007 quarter results scheduled on 25 April 2007.
Zee Entertainment Enterprises rose 2.19% to Rs 272.25, on reporting strong Q4 March 2007 results. ZEEL recorded 13% growth in consolidated net profit on a like-to-like basis, giving effect to restructuring in the March 2007 quarter to Rs 60.30 crore (Rs 53.50 crore). Operating revenue rose 11% on a consolidated basis to Rs 384.40 crore (Rs 347.60 crore). For the year ended 31 March 2007, ZEEL clocked 8% growth in net profit to Rs 219.40 crore, on 31% growth in operating revenue to Rs 1441.10 crore.
UltraTech Cement slipped 4.65% to Rs 803, despite the company reporting strong results for the March 2007 quarter. The scrip of Ultratech Cement had opened at Rs 860, a 2.11% rise to yesterday’s closing of Rs 842.15. UltraTech Cement posted a surge in net profit in the March 2007 quarter to Rs 231.54 crore (Rs 132.11 crore). Net sales surged 38.2% to Rs 1465.52 crore (Rs 1060.35 crore).
DTH service provider Dish TV India slumped 4.92% to Rs 104.35, after the Reserve Bank of India (RBI) barred fresh FII-buying in the counter. According to the central bank, the ceiling of 49% for such investment had already been reached in the counter.
The Nikkei average was little changed, giving up some of its earlier gains on Monday, as caution ahead of the earnings announcements put Yahoo Japan Corp and others under pressure. Hoya Corporation extended losses to fall more than 3% after posting a weaker-than-expected gain in the fourth-quarter profit on Monday.
The Nikkei inched up 2.75 points, or 0.02%, to 17,455.37.
Oil prices dropped in Asian trading on Monday after no major disruptions to production were reported around the weekend presidential election in Nigeria. An overseas monitor, however, said the electoral process failed to meet international standards.
Light, sweet crude for June delivery dropped 16 cents to $63.95 a barrel in electronic trading on the New York Mercantile Exchange midmorning in Singapore. The May contract on Friday rose $1.55 to settle at $63.38 a barrel before expiring, while the June contract settled at $64.11, up 79 cents.
FIIs have stepped up buying after Infosys gave a strong guidance for FY 2008 in dollar terms, putting to rest concerns about the impact of a slowdown in the US on India’s IT sector. Their inflow for April 2007, till Friday (20 April 2007), aggregated Rs 5120 crore.
US stocks jumped on Friday (20 April), with the Dow closing at a record high after stopping short just 35 points from the 13,000 mark, as Google Inc., and Caterpillar Inc., joined the list of companies reporting stronger-than-expected quarterly results. The Dow Jones industrial average rose 153.35 points, or 1.20%, to end at 12,961.98, its third straight record close. The Standard & Poor’s 500 Index was up 13.62 points, or 0.93%, at 1,484.35. The Nasdaq Composite Index was up 21.04 points, or 0.84%, at 2,526.39.
The first and the most significant of events is the Reserve Bank of India (RBI)’s monetary policy, which will be announced by noon tomorrow. The central bank is expected to hold interest rates steady at its policy review on Tuesday (24 April), although analysts say tightening is not over yet and the central bank may decide to take steps to curb capital inflows that have been driving up the rupee. The central bank will also set out its forecasts for the year, including that on inflation and growth.
Prior to this, it has already raised the reserve requirement for banks three times since December 2006 and raised its main lending rate five times since early-June 2006, to try and curb credit growth as well as inflation.
Also, intense volatility is expected ahead of the expiry of the April 2007 derivative contracts on Thursday (26 April 2007).
The market, which was highly volatile throughout the day, finally settled with modest gains. The benchmark Sensex was in great nick at the start of the session, but pared gains in the second half of trading, as profit-booking set in at the higher levels.
The 30-share BSE Sensex gained 30.92 points, to end at 13,928.33. It had opened firm, at 13,972.81, and vaulted to a high of 14,046.52, as buying continued. Its low for the day is 13,879.39.
The S&P CNX Nifty was up 1.55 points (0.04%), to finish at 4,085.10.
As per provisional data, FIIs were net sellers to the tune of Rs 142.49 crore today. Domestic institutional investors were net buyers to the tune of Rs 258 crore today.
The Sensex had last hit the 14,000 mark on 23 February 2007 and had closed above the coveted mark for the last time on 22 February 2007. The Sensex’s all-time peak is of 14,723.88, which was attained on 9 February 2007. The benchmark Sensex’s all-time closing high is 14,652.09, of 8 February 2007.
The market-breadth, which measures the overall health of the market, ended negative, as selling of smallcap and mid-cap shares began. On BSE, 1,387 scrips declined compared to 1,177 that advanced. A total of 83 stocks remained unchanged. The BSE Mid-Cap Index ended at 5,702.44, a gain of 3 points (0.06%), while the BSE Small-Cap Index settled at 6,970.92, down 3 points (0.05%) from its previous close.
The total turnover on BSE was unusually high compared to that in the previous few sessions, thanks to a number of block deals that were executed in a lot of counters.
Three massive block deals of 93.21 lakh shares each (amounting roughly 1.8% of stake), struck in the Gujarat Ambuja Cements (GACL) counter, at an average Rs 116.05 per share on BSE were a salient feature of opening trade. The stock was down 0.61% to Rs 114.75, on total volumes of 3.03 crore shares. Undoubtedly, it was the top-traded counter on BSE with a turnover of Rs 352.55 crore. As per reports, Holcim, the world’s second-biggest cement maker, raised its stake in the Indian cement major to nearly 30% in a deal worth $78 million.
Phoenix Mills was the fourth most-traded counter on BSE with a turnover of Rs 119.95 crore. Two block deals of 2.43 lakh shares were executed in the counter on BSE, at an average Rs 1581 per share in early trade.
A block deal of 10.20 lakh shares was struck in the Cairn India counter, at Rs 132 per share, by 14:25 IST.
As a result of the block deals, the total turnover clocked a neat Rs 4111.37 crore on BSE while the total market-wide turnover was at Rs 45203.74 crore.
Among the 30-Sensex pack, 16 declined while the rest advanced.
Shares from the metal pack, bucked the sluggish trend. The BSE Metal Index closed at 9,896.84, up 2%, and was the top-gainer among the sectoral indices.
Tata Steel surged 4.71% to Rs 559.50, on a high volume of 22.96 lakh shares, and was the top-gainer. It had advanced to a high of Rs 560, in intra-day trade.
Maharashtra Seamless (up 5.92%), Jindal Steel (up 5.08%), Sail (up 0.20%), and Jindal Saw (up 2.25%) were the other gainers from the metal space.
REL (up 2.10% to Rs 521.75), Hindalco (up 0.80% to Rs 147.85) and Satyam Computers (up 0.85% to Rs 480.50) were the other gainers.
Reliance Communications advanced 1.62% to Rs 463.80, on expectations of strong earnings growth, driven by a robust rise in the subscriber base and an increased penetration of value-added services. Reliance Communications will announce its results on 30 April 2007.
Bharti Airtel, however, was down 0.95% to Rs 837.55, after striking an all-time high of Rs 867.80. Bharti Airtel unveils its Q4 results on 27 April 2007.
Index heavyweight Reliance Industries (RIL) was up 1.10% to Rs 1558, on a volume of 6.24 shares. It had advanced to a high of Rs 1560, while its low was at Rs 1527.
Drug major Ranbaxy Laboratories lost 0.37% to Rs 342.05, after investing more than $20 million (over Rs 83 crore) in the Romanian subsidiary, Terapia Ranbaxy. The move is a part of the company’s strategy to make the subsidiary its hub for Europe and Commonwealth of Independent States (CIS).
Terapia SA, an 86-year-old company, was acquired by Ranbaxy for $324 million (Rs 1,347 crore) in June, last year. The combined operations of Terapia and Ranbaxy established the largest Romanian generics company, with more than 1,200 employees, of which 350 form the largest professional field force in the Romanian pharmaceutical market. Terapia has a manufacturing plant in Romania, which Ranbaxy is now in the process of upgrading.
Ranbaxy had invested about $10 million (over Rs 40 crore) last year in Terapia and was looking at a similar investment in the same, post-acquisition, a Romanian news paper, Ziarul Financier, had said yesterday quoting Peter Burema, President of Ranbaxy’s global pharmaceutical division.
Cigarette major ITC was the top-loser, down 2.49% to Rs 156.60, on volumes of 17.18 lakh shares. It had also sunk to a low of Rs 154.85.
Banking stocks settled lower, ahead of the Reserve Bank of India (RBI)’s monetary policy meeting tomorrow. SBI (down 1.80% to Rs 1055.40), HDFC Bank (down 0.87% to Rs 986) and ICICI Bank (down 0.15% to Rs 913) declined.
Tata Power Company surged 4% to Rs 568, after it acquired Coastal Gujarat Power, a special purpose vehicle (SPV) formed for Mundra Ultra Mega Power Project (UMPP). A formal execution of the documents took place between Power Finance Corporation (PFC) and Tata Power, under the guidance of the Ministry of Power, Delhi. A performance bank guarantee of Rs 300 crore was provided by the company in favour of PFC. Coastal Gujarat Power has also signed power purchase agreements (PPAs) with seven procurers (distribution licensees) for the sale of contracted capacity and supply of 4000 MW electricity to these licensees but it delineates responsibility of procurers and company for the next important milestone. It also nominates Gujarat Distribution Company as the lead procurer on behalf of all procurers.
ABB gained 2.10% to Rs 3932, on continued buying, expecting a strong set of Q1 March 2007 results. ABB unveils Q1 results on 26 April 2007. Six brokerages expect 26.8 - 50.7% growth in ABB’s Q1 net profit, between Rs 65 crore and Rs 77.30 crore, compared to a net profit of Rs 51.30 crore in Q1 March 2006. Sales are seen rising 25 - 49.2%, between Rs 1003.60 crore and Rs 1198.20 crore, from Rs 802.91 crore in the March 2006 quarter.
Titan Industries plunged 6.20% to Rs 948, after the company reported a 18.5% decline in net profit in the March 2007 quarter. Titan Industries has reported a 18.50% decline in its net profit in the March 2007 quarter at Rs 30.32 crore (Rs 37.21 crore). Net sales surged 39.5% to Rs 605.83 crore from Rs 434.15 crore.
Sun Pharmaceutical Industries plunged 10.61% to Rs 1055, after the stock began trading ex-demerger of its R&D division into a separate company. On 5 April 2007, Sun Pharmaceutical Industries announced that its shareholders will get a share of Sun Pharma Advanced Research Company, which is being spun off for every share they held in Sun Pharmeceuticals. The company has fixed 30 April 2007, as the record-date for this purpose. Sun Pharma Advanced Research Company will be seperately listed on the bourses in due course.
Syngenta India rose by its maximum daily limit of 20% to Rs 625.20, after its parent set an exit price of Rs 730-per-share to delist the company.
Lead acid batteries maker Exide Industries gained 6.48% to Rs 48.50. On Friday (20 April), the company reported strong Q4 March 2007 results. The net profit jumped 49% to Rs 38.51 crore, on 38% growth in sales to Rs 528.89 crore.
IT services firm iGate Global Solutions gained 6.1% to Rs 356.50. Earlier during the month, iGate reported 42% sequential growth in net profit for Q4 March 2007 at Rs 22.65 crore from Rs 15.95 crore in the December 2006 quarter. The software developer had at the time of unveiling Q4 results said, the US subprime mortgage woes were hitting its revenues.
Alfa Laval rose 5.94% to Rs 999. It was the fourth-biggest gainer from the ‘A’ group scrips of BSE. The company holds a board meeting on 25 April 2007, to consider March 2007 quarter results.
Maharashtra Seamless gained 5.92% to Rs 562.50, ahead of its March 2007 quarter results scheduled on 25 April 2007.
Zee Entertainment Enterprises rose 2.19% to Rs 272.25, on reporting strong Q4 March 2007 results. ZEEL recorded 13% growth in consolidated net profit on a like-to-like basis, giving effect to restructuring in the March 2007 quarter to Rs 60.30 crore (Rs 53.50 crore). Operating revenue rose 11% on a consolidated basis to Rs 384.40 crore (Rs 347.60 crore). For the year ended 31 March 2007, ZEEL clocked 8% growth in net profit to Rs 219.40 crore, on 31% growth in operating revenue to Rs 1441.10 crore.
UltraTech Cement slipped 4.65% to Rs 803, despite the company reporting strong results for the March 2007 quarter. The scrip of Ultratech Cement had opened at Rs 860, a 2.11% rise to yesterday’s closing of Rs 842.15. UltraTech Cement posted a surge in net profit in the March 2007 quarter to Rs 231.54 crore (Rs 132.11 crore). Net sales surged 38.2% to Rs 1465.52 crore (Rs 1060.35 crore).
DTH service provider Dish TV India slumped 4.92% to Rs 104.35, after the Reserve Bank of India (RBI) barred fresh FII-buying in the counter. According to the central bank, the ceiling of 49% for such investment had already been reached in the counter.
The Nikkei average was little changed, giving up some of its earlier gains on Monday, as caution ahead of the earnings announcements put Yahoo Japan Corp and others under pressure. Hoya Corporation extended losses to fall more than 3% after posting a weaker-than-expected gain in the fourth-quarter profit on Monday.
The Nikkei inched up 2.75 points, or 0.02%, to 17,455.37.
Oil prices dropped in Asian trading on Monday after no major disruptions to production were reported around the weekend presidential election in Nigeria. An overseas monitor, however, said the electoral process failed to meet international standards.
Light, sweet crude for June delivery dropped 16 cents to $63.95 a barrel in electronic trading on the New York Mercantile Exchange midmorning in Singapore. The May contract on Friday rose $1.55 to settle at $63.38 a barrel before expiring, while the June contract settled at $64.11, up 79 cents.
FIIs have stepped up buying after Infosys gave a strong guidance for FY 2008 in dollar terms, putting to rest concerns about the impact of a slowdown in the US on India’s IT sector. Their inflow for April 2007, till Friday (20 April 2007), aggregated Rs 5120 crore.
US stocks jumped on Friday (20 April), with the Dow closing at a record high after stopping short just 35 points from the 13,000 mark, as Google Inc., and Caterpillar Inc., joined the list of companies reporting stronger-than-expected quarterly results. The Dow Jones industrial average rose 153.35 points, or 1.20%, to end at 12,961.98, its third straight record close. The Standard & Poor’s 500 Index was up 13.62 points, or 0.93%, at 1,484.35. The Nasdaq Composite Index was up 21.04 points, or 0.84%, at 2,526.39.
Sunday, April 22, 2007
short term call
buy allsec technologies @296 target-312-340 sl 276
buy terasoft@106target135 sl 85
buy bhartishipyard @cmp target -414-450 sl385
buy terasoft@106target135 sl 85
buy bhartishipyard @cmp target -414-450 sl385
post market analysis
Rallying by global markets and a strong FY 2008 guidance from IT major Satyam Computer propelled the domestic bourses higher, and the benchmark Sensex surged to a two-month high. Index heavyweight Reliance Industries (RIL) advanced to a record high, helping the key indices to a higher plane.
Sensex jumped 277.71 points (2%), to settle at 13,897.41, its highest closing since 22 February 2007. The S&P CNX Nifty gained 85.90 points (2.15%), to end at 4,083.55, its highest closing since 21 February 2007.
A surge in the benchmark Sensex in mid-afternoon trade was followed by a cooling of data released at 12:30 pm, showing a spike in inflation, driven by prices of food and manufactured goods, heightening concern that the central bank will again tighten policy at a review next week. But a rally once again gathered steam later after Finance Minister P Chidambaram said he expected annual inflation to ease to around 5.7% next week. Further moderation will depend on wheat arrivals, Chidambaram said. Shares of top banks recovered in volatile trade.
The wholesale price index rose 6.09% in the 12 months to 7 April 2007, higher than previous week’s increase of 5.74%, data showed on Friday. The annual rate had moderated to below 6% recently after hitting 6.69% on 27 January 2007, its highest in more than two years, on the back of Reserve Bank of India (RBI) tightening policy and the government cutting duties on a range of items to rein in prices.
The market-breadth was strong. Against 1,483 scrips that rose on BSE, 1,096 had declined. Also, 95 scrips were unchanged. Gainers outpaced losers by a ratio of 1.35:1.
The BSE clocked a turnover of Rs 4303 crore compared to Thursday’s Rs 4170 crore.
Just like Infosys, Satyam Computer today gave a strong earnings and revenue guidance in dollar terms as per US GAAP. Also, just like Infosys, Satyam has given muted earnings and revenue guidance as per Indian GAAP.
Asian shares rebounded and European bourses rose solidly on Friday as fears faded that a sharp fall in Chinese stocks on Thursday could ripple through financial markets, as it did in February. MSCI’s All-Country World Index rose 0.3% to 390.3 points, near its all-time peak and taking its year-to-date gains to 5.8%.
The FTSEurofirst 300 was up 0.6% at 1,568.1 points, and within sniffing distance of a high attained during December 2000.
In Asia, China’s Shanghai Composite Index recouped most of Thursday’s losses, adding 3.9%. The index is up 159% in the past 12 months. Japan’s Nikkei clawed back 0.5% of Thursday’s 1.7% slide — its biggest fall in a month — helped by exporters which benefited from the yen’s retreat.
FIIs stepped up buying after Infosys gave a strong guidance for FY 2008 in dollar terms, putting to rest concerns about the impact of a slowdown in the US on India’s IT sector. Their net inflow in three trading sessions, between Monday and Wednesday, aggregated Rs 2076.90 crore. However, foreign funds pulled out a net Rs 73.40 crore on Thursday. Their inflow for April 2007, till Thursday (19 April), aggregated Rs 4371 crore.
All sectoral indices of BSE gained today. On the back of a rally in Tata Steel, the BSE Metal Index was the top-gainer. It jumped 328.86 points (3.51%), to finish at 9,702.28. The BSE Oil & Gas Index rose 188.11 points (2.7%), to finish at 7,052.08. The BSE Tech Index, which is a free-float index comprising of IT, telecom and media shares rose 79.48 points (2.18%), to settle at 3,722.49. The BSE IT Index advanced 80.26 points (1.6%), to end at 5,055.09.
Reliance Industries (RIL) gained 3.4% to Rs 1543.75. The stock hit a high of Rs 1545, which is a lifetime high for the stock. The board of RIL meets on 26 April 2007, to consider Q4 March 2007 and FY 2007 results.
Housing finance major HDFC jumped 6.5% to Rs 1667. It was the top gainer from the ‘A’ group.
Satyam Computer jumped 6.4% to Rs 476.75, after it gave a strong guidance for FY 2008. Satyam Computer net profit rose 38% year-on-year in the March 2007 quarter, to Rs 394 crore. Just like Infosys, Satyam Computer has given strong earnings and revenue guidance in dollar terms as per US GAAP. Also, just like Infosys, Satyam Computer has given muted earnings and revenue guidance as per Indian GAAP.
Satyam Computer forecast 27 - 29% growth in basic earning per ADS for fiscal 2008, between $ 1.16 and $ 1.18. The US GAAP revenue is expected to rise 28 - 30%, between $ 1.87 billion and $1.9 billion for FY 2008. As per Indian GAAP, Satyam Computer has forecast between 18 - 20% growth in EPS for FY 2008, between Rs 25.32 and Rs 25.73. Satyam Computer has forecast 20 - 22% growth in revenue as per Indian GAAP for FY 2008.
Wipro lost 1.3% to Rs 571. Wipro today reported 44% year-on-year growth in net profit in the March 2007 quarter to Rs 861 crore as per US GAAP. It also forecast strong growth on more outsourcing and higher billing rates.
ONGC gained 3% to Rs 923. Oil prices rose as OPEC member, Nigeria, heads for weekend elections, ahead of the US May futures contract expiry later on Friday. Brent crude was up 51 cents at $66.45 a barrel, while US light crude added 83 cents to $62.66.
Tata Steel gained 6% to Rs 536. The stock had recovered from the last two days of a decline caused by equity dilution concerns after unveiling funding plans for its $12 billion takeover of Corus Group. The scrip rose on high volumes of 45.9 lakh shares on BSE.
State Bank of India (SBI) gained 2.3% to Rs 1078, after the largest lender said it planned to borrow up to Rs 10000 crore during 2007/08.
Bharti Airtel surged nearly 4% to Rs 848.80. The stock is now within striking distance of an all-time high of Rs 850, attained in February 2007. Bharti Airtel has launched a new set of prepaid cards, waiving processing fees. Named Airtel Happy Recharge, the cards will come in three denominations of Rs 299, Rs 399 and Rs 499 having a validity of 30 days. It will also have a single rate for local calls, and one rate for STD calls irrespective of the caller calling any other operator or even to a landline.
Reliance Communications gained nearly 5% to Rs 455.90. The company had registered strong growth in new subscriptions for the month just gone by.
Gujarat Ambuja Cements (GACL) rose 1.4% to Rs 115.10, after it said on Friday its net profit for the quarter ended 31 March 2007, rose to Rs 591 crore, including one-time gains
Telecom software firm Sasken Communication Technologies dropped nearly 3% to Rs 525. During trading hours today, the company reported a 86% year-on-year increase in consolidated net profit for the Jan-March 2007 quarter at Rs 11.70 crore. Consolidated revenues rose 73% to Rs 135 crore.
Vakrangee Softwares gained 2.6% to Rs 156.90, after posting a substantial increase in net profit in the January-March 2007 quarter to Rs 10.60 crore from Rs 3.17 crore in the Jan-March 2006 quarter.
India Cements lost 0.2% to Rs 170.50. It reported a surge in net profit in Q4 March 2007 quarter to Rs 139.81 crore (Rs 27.03 crore).
Mahindra & Mahindra rose 1.3% to Rs 743, after it said it would raise $300 million from the international market.
Balaji Telefilms gained 4% to Rs 168, on news it would invest up to Rs 60 crore for a 49% stake in a joint venture with News Corp.’s Star Group. The joint venture plans to launch a clutch of regional language channels in southern India.
Mukta Arts rose by its daily maximum limit of 5% to Rs 86.65, after the film producer posted a surge in net profit for the March 2007-quarter to Rs 14.98 crore from Rs 0.24 crore in the March 2006 quarter.
National Fertilizers rose nearly 4% to Rs 30.05, after its Jan-March 2007 quarter net profit surged.
CEAT rose nearly 3% to Rs 141, ahead of its Q4 March 2007 and FY 2007 results, which are due on Monday (23 April 2007).
Exide Industries rose 1.7% to Rs 45.60, after the company today reported 49% growth in net profit in the March 2007 quarter, to Rs 38.51 crore.
Shiva Cement dropped 4.5% to Rs 10, after its board approved issuing 14.5 million shares to ACC at Rs 11 a share, including a premium of Rs 9 per share.
Parsvnath Developers was down 0.5% to Rs 301.95. NSE has barred fresh derivative positions in the stock as the contracts had crossed the 95% market-wide position limit. Trading in Parsvnath Developers will be allowed only to reduce positions, NSE said.
Essel Propack fell almost 1% to Rs 72, after the packaging firm posted a 28% fall in the March 2007 quarter net profit to Rs 6.60 crore.
IFCI rose 2.1% to Rs 37.85, after the National Stock Exchange (NSE) lifted a ban on fresh positions in the scrip’s derivative contracts.
Indiabulls Real Estate gained 6% to Rs 303.90. The Reserve Bank of India (RBI) has notified that under portfolio investment scheme (PIS), foreign institutional investors (FIIs) can now purchase equity shares and convertible debentures of Indiabulls Real Estate, up to 100% of its paid-up capital as the company has passed resolutions to this effect at the board of directors’ and general body meetings.
Tanla Solutions (up 2% to Rs 400.65) extended gains after reporting strong March 2007 quarter results during trading hours on Thursday.
The Reserve Bank of India (RBI) reviews policy next Tuesday. It has raised the reserve requirement for banks three times since December and has raised its main lending rate five times since early-June 2006 to try and curb credit growth as well as inflation.
Strong FY 2008 guidance by Infosys, firm global bourses and continued FII-buying, have boosted the bourses this month after the Sensex had tanked 617 points in a single trading session on 2 April following the Reserve Bank of India (RBI)’s surprise hike in interest rates announced after trading hours on 30 March 2007. From a low of 12,455.37 on 2 April 2007, the Sensex has collected 1,442.04 points (11.5%) in a short while.
The Sensex’s all-time peak is of 14,723.88, which had been reached on 9 February 2007. Its all-time closing high is 14,652.09 of 8 February 2007.
The market may remain volatile next week ahead of the expiry of the April 2007 derivative contracts on Thursday (26 April 2007). RIL announces Q4 results on 26 April.
Sensex jumped 277.71 points (2%), to settle at 13,897.41, its highest closing since 22 February 2007. The S&P CNX Nifty gained 85.90 points (2.15%), to end at 4,083.55, its highest closing since 21 February 2007.
A surge in the benchmark Sensex in mid-afternoon trade was followed by a cooling of data released at 12:30 pm, showing a spike in inflation, driven by prices of food and manufactured goods, heightening concern that the central bank will again tighten policy at a review next week. But a rally once again gathered steam later after Finance Minister P Chidambaram said he expected annual inflation to ease to around 5.7% next week. Further moderation will depend on wheat arrivals, Chidambaram said. Shares of top banks recovered in volatile trade.
The wholesale price index rose 6.09% in the 12 months to 7 April 2007, higher than previous week’s increase of 5.74%, data showed on Friday. The annual rate had moderated to below 6% recently after hitting 6.69% on 27 January 2007, its highest in more than two years, on the back of Reserve Bank of India (RBI) tightening policy and the government cutting duties on a range of items to rein in prices.
The market-breadth was strong. Against 1,483 scrips that rose on BSE, 1,096 had declined. Also, 95 scrips were unchanged. Gainers outpaced losers by a ratio of 1.35:1.
The BSE clocked a turnover of Rs 4303 crore compared to Thursday’s Rs 4170 crore.
Just like Infosys, Satyam Computer today gave a strong earnings and revenue guidance in dollar terms as per US GAAP. Also, just like Infosys, Satyam has given muted earnings and revenue guidance as per Indian GAAP.
Asian shares rebounded and European bourses rose solidly on Friday as fears faded that a sharp fall in Chinese stocks on Thursday could ripple through financial markets, as it did in February. MSCI’s All-Country World Index rose 0.3% to 390.3 points, near its all-time peak and taking its year-to-date gains to 5.8%.
The FTSEurofirst 300 was up 0.6% at 1,568.1 points, and within sniffing distance of a high attained during December 2000.
In Asia, China’s Shanghai Composite Index recouped most of Thursday’s losses, adding 3.9%. The index is up 159% in the past 12 months. Japan’s Nikkei clawed back 0.5% of Thursday’s 1.7% slide — its biggest fall in a month — helped by exporters which benefited from the yen’s retreat.
FIIs stepped up buying after Infosys gave a strong guidance for FY 2008 in dollar terms, putting to rest concerns about the impact of a slowdown in the US on India’s IT sector. Their net inflow in three trading sessions, between Monday and Wednesday, aggregated Rs 2076.90 crore. However, foreign funds pulled out a net Rs 73.40 crore on Thursday. Their inflow for April 2007, till Thursday (19 April), aggregated Rs 4371 crore.
All sectoral indices of BSE gained today. On the back of a rally in Tata Steel, the BSE Metal Index was the top-gainer. It jumped 328.86 points (3.51%), to finish at 9,702.28. The BSE Oil & Gas Index rose 188.11 points (2.7%), to finish at 7,052.08. The BSE Tech Index, which is a free-float index comprising of IT, telecom and media shares rose 79.48 points (2.18%), to settle at 3,722.49. The BSE IT Index advanced 80.26 points (1.6%), to end at 5,055.09.
Reliance Industries (RIL) gained 3.4% to Rs 1543.75. The stock hit a high of Rs 1545, which is a lifetime high for the stock. The board of RIL meets on 26 April 2007, to consider Q4 March 2007 and FY 2007 results.
Housing finance major HDFC jumped 6.5% to Rs 1667. It was the top gainer from the ‘A’ group.
Satyam Computer jumped 6.4% to Rs 476.75, after it gave a strong guidance for FY 2008. Satyam Computer net profit rose 38% year-on-year in the March 2007 quarter, to Rs 394 crore. Just like Infosys, Satyam Computer has given strong earnings and revenue guidance in dollar terms as per US GAAP. Also, just like Infosys, Satyam Computer has given muted earnings and revenue guidance as per Indian GAAP.
Satyam Computer forecast 27 - 29% growth in basic earning per ADS for fiscal 2008, between $ 1.16 and $ 1.18. The US GAAP revenue is expected to rise 28 - 30%, between $ 1.87 billion and $1.9 billion for FY 2008. As per Indian GAAP, Satyam Computer has forecast between 18 - 20% growth in EPS for FY 2008, between Rs 25.32 and Rs 25.73. Satyam Computer has forecast 20 - 22% growth in revenue as per Indian GAAP for FY 2008.
Wipro lost 1.3% to Rs 571. Wipro today reported 44% year-on-year growth in net profit in the March 2007 quarter to Rs 861 crore as per US GAAP. It also forecast strong growth on more outsourcing and higher billing rates.
ONGC gained 3% to Rs 923. Oil prices rose as OPEC member, Nigeria, heads for weekend elections, ahead of the US May futures contract expiry later on Friday. Brent crude was up 51 cents at $66.45 a barrel, while US light crude added 83 cents to $62.66.
Tata Steel gained 6% to Rs 536. The stock had recovered from the last two days of a decline caused by equity dilution concerns after unveiling funding plans for its $12 billion takeover of Corus Group. The scrip rose on high volumes of 45.9 lakh shares on BSE.
State Bank of India (SBI) gained 2.3% to Rs 1078, after the largest lender said it planned to borrow up to Rs 10000 crore during 2007/08.
Bharti Airtel surged nearly 4% to Rs 848.80. The stock is now within striking distance of an all-time high of Rs 850, attained in February 2007. Bharti Airtel has launched a new set of prepaid cards, waiving processing fees. Named Airtel Happy Recharge, the cards will come in three denominations of Rs 299, Rs 399 and Rs 499 having a validity of 30 days. It will also have a single rate for local calls, and one rate for STD calls irrespective of the caller calling any other operator or even to a landline.
Reliance Communications gained nearly 5% to Rs 455.90. The company had registered strong growth in new subscriptions for the month just gone by.
Gujarat Ambuja Cements (GACL) rose 1.4% to Rs 115.10, after it said on Friday its net profit for the quarter ended 31 March 2007, rose to Rs 591 crore, including one-time gains
Telecom software firm Sasken Communication Technologies dropped nearly 3% to Rs 525. During trading hours today, the company reported a 86% year-on-year increase in consolidated net profit for the Jan-March 2007 quarter at Rs 11.70 crore. Consolidated revenues rose 73% to Rs 135 crore.
Vakrangee Softwares gained 2.6% to Rs 156.90, after posting a substantial increase in net profit in the January-March 2007 quarter to Rs 10.60 crore from Rs 3.17 crore in the Jan-March 2006 quarter.
India Cements lost 0.2% to Rs 170.50. It reported a surge in net profit in Q4 March 2007 quarter to Rs 139.81 crore (Rs 27.03 crore).
Mahindra & Mahindra rose 1.3% to Rs 743, after it said it would raise $300 million from the international market.
Balaji Telefilms gained 4% to Rs 168, on news it would invest up to Rs 60 crore for a 49% stake in a joint venture with News Corp.’s Star Group. The joint venture plans to launch a clutch of regional language channels in southern India.
Mukta Arts rose by its daily maximum limit of 5% to Rs 86.65, after the film producer posted a surge in net profit for the March 2007-quarter to Rs 14.98 crore from Rs 0.24 crore in the March 2006 quarter.
National Fertilizers rose nearly 4% to Rs 30.05, after its Jan-March 2007 quarter net profit surged.
CEAT rose nearly 3% to Rs 141, ahead of its Q4 March 2007 and FY 2007 results, which are due on Monday (23 April 2007).
Exide Industries rose 1.7% to Rs 45.60, after the company today reported 49% growth in net profit in the March 2007 quarter, to Rs 38.51 crore.
Shiva Cement dropped 4.5% to Rs 10, after its board approved issuing 14.5 million shares to ACC at Rs 11 a share, including a premium of Rs 9 per share.
Parsvnath Developers was down 0.5% to Rs 301.95. NSE has barred fresh derivative positions in the stock as the contracts had crossed the 95% market-wide position limit. Trading in Parsvnath Developers will be allowed only to reduce positions, NSE said.
Essel Propack fell almost 1% to Rs 72, after the packaging firm posted a 28% fall in the March 2007 quarter net profit to Rs 6.60 crore.
IFCI rose 2.1% to Rs 37.85, after the National Stock Exchange (NSE) lifted a ban on fresh positions in the scrip’s derivative contracts.
Indiabulls Real Estate gained 6% to Rs 303.90. The Reserve Bank of India (RBI) has notified that under portfolio investment scheme (PIS), foreign institutional investors (FIIs) can now purchase equity shares and convertible debentures of Indiabulls Real Estate, up to 100% of its paid-up capital as the company has passed resolutions to this effect at the board of directors’ and general body meetings.
Tanla Solutions (up 2% to Rs 400.65) extended gains after reporting strong March 2007 quarter results during trading hours on Thursday.
The Reserve Bank of India (RBI) reviews policy next Tuesday. It has raised the reserve requirement for banks three times since December and has raised its main lending rate five times since early-June 2006 to try and curb credit growth as well as inflation.
Strong FY 2008 guidance by Infosys, firm global bourses and continued FII-buying, have boosted the bourses this month after the Sensex had tanked 617 points in a single trading session on 2 April following the Reserve Bank of India (RBI)’s surprise hike in interest rates announced after trading hours on 30 March 2007. From a low of 12,455.37 on 2 April 2007, the Sensex has collected 1,442.04 points (11.5%) in a short while.
The Sensex’s all-time peak is of 14,723.88, which had been reached on 9 February 2007. Its all-time closing high is 14,652.09 of 8 February 2007.
The market may remain volatile next week ahead of the expiry of the April 2007 derivative contracts on Thursday (26 April 2007). RIL announces Q4 results on 26 April.
Friday, April 20, 2007
message-
as i am posting regulary for you all without any personal intrest so i am requesting you all if any of you have any news any views on the market and stocks you can post on the blog send your all details analysis to vishwa_deepak1@yahoo.com.
and plz send only authenticate report it will b checked .
and plz send only authenticate report it will b checked .
ELLIOT WAVE ANALYSIS of nifty 19.04.07
ELLIOTT WAVE ANALYSIS OF NIFTYThe count has remained the same and there was nothing much to add, then a repeat sugggestion of waiting for the next wave of downfall to begin. On thursday morning at 9.25 Pm, the small fall which was seen in the last trading session now appears to open the way for a steep sharp fall, which could well extend into a full blown impulse taking the Nifty anywhere between 3500-3200 and possibly below that. The wave pattern from hereon will shed light on the targets. As written earlier, the markets always show the fall before the trigger is seen. What could the trigger be this time?
intra day picks.
due to volatility and less time no posting today also rest will b given on yahoo messanger .
NIFTY OUTLOOK FOR 20.04.07
as said yesterday a triangle is formed which is over today so we may see a rally upto 4025 and 4040 is the final resistance level as i think it may not cross this level today on lower side i am expecting 3965,3950 and we can see more fall as asian market behaves today our indian market is not behaved so may we have due on the brouses to show same reaction .and maximum chances is for range bound trading day for today as so many are waiting breathlessely for 24th rbi meeting so plz b cautious as international market also trading lower so we also may open in -ve vias.
more on yahoo messanger
more on yahoo messanger
FII'S VIEW ON 24TH MEETING OF RBI
With the RBI just increasing their key lending rates, repo rate and CRR this Friday, FIIs are expecting one or two more rate hikes, not necessarily on April 24(When annual policy statement for 2007-08 will be announced), but maybe after 2-3 months. RBI hiked repo rate by 25 bps to 7.75% with immediate effect.
Experts feel that the RBI will not will not play around with the key lending rates in its annual policy statement for 2007-08 on April 24, as it already took some measures to tame inflation.
FIIs, like Adrian Mowat, JP Morgan, see that the problem of overheating is likely to keep the Indian equity markets underperforming.
Executive Director and India Economist of JM Morgan Stanley, Chetan Ahya forecasts one more rate hike and expects one to see a tightening of monetary policy in the next 12 months.
A slowdown in global capital flows will reduce the pressure on RBI to tighten aggressively, either in the form of CRR or repo rate hike, he said.
Ahya said, “one should expect at least 1-2 more rate hikes. But the situation is dynamic; if we get more capital flows, like we have got in the last seven weeks, one could expect RBI to continue to tighten at least in form of CRR hikes going forward, to neutralize those capital inflows.
I would say the probability of the April rate hike has definitely reduced in the near-term. April 24 should kept out of the way. We should now look at whether RBI is going to do more rate hikes or not. There are probably more rate hikes - not necessarily on April 24, but maybe after 2-3 months, depending upon how the macro conditions pan out after that."
He said that the probability of second rate hike is very high because till now whatever measures RBI has taken, it has not seen any evidence of a slowdown particularly in the form of credit growth.
"The last number we have seen is still at around 29%, which is pretty much close to an all time high. So basically, RBI will probably continue to tighten with at least one hike and a probability of a second rate has increased," said
Ahya.
Experts feel that the RBI will not will not play around with the key lending rates in its annual policy statement for 2007-08 on April 24, as it already took some measures to tame inflation.
FIIs, like Adrian Mowat, JP Morgan, see that the problem of overheating is likely to keep the Indian equity markets underperforming.
Executive Director and India Economist of JM Morgan Stanley, Chetan Ahya forecasts one more rate hike and expects one to see a tightening of monetary policy in the next 12 months.
A slowdown in global capital flows will reduce the pressure on RBI to tighten aggressively, either in the form of CRR or repo rate hike, he said.
Ahya said, “one should expect at least 1-2 more rate hikes. But the situation is dynamic; if we get more capital flows, like we have got in the last seven weeks, one could expect RBI to continue to tighten at least in form of CRR hikes going forward, to neutralize those capital inflows.
I would say the probability of the April rate hike has definitely reduced in the near-term. April 24 should kept out of the way. We should now look at whether RBI is going to do more rate hikes or not. There are probably more rate hikes - not necessarily on April 24, but maybe after 2-3 months, depending upon how the macro conditions pan out after that."
He said that the probability of second rate hike is very high because till now whatever measures RBI has taken, it has not seen any evidence of a slowdown particularly in the form of credit growth.
"The last number we have seen is still at around 29%, which is pretty much close to an all time high. So basically, RBI will probably continue to tighten with at least one hike and a probability of a second rate has increased," said
Ahya.
post market analysis
The barometer index ended with modest losses after plunging sharply in early trades, as buying resumed late at the lower levels. Local bourses were gripped by acute volatility, but at the end were able to outperform their global peers. Weakness around global markets made its way on to the domestic bourses right from the word go.
The 30-share BSE Sensex was down 52.49 points (0.38%), at 13,619.7. It had opened lower, at 13,538.71, and slumped to a low of 13,423.64, tracking weak global markets. However, the barometer index begun retrieving lost ground and had even touched a high of 13,658.11, after buying resumed.
The S&P CNX Nifty declined 13.95 points (0.35%), to 3,997.65.
The market stayed weak as selling continued in the late-afternoon session of trades. However, strong buying began in the late-afternoon, helping the market wipe out the earlier sharp losses.
Global markets underwent a steep correction. All European as well as Asian indices were trading with losses.
The market-breadth, an indication of the market’s health, was weak as well. A host of stocks from the smallcap and mid-cap space faltered. For 1,341 stocks that declined on BSE, 1,179 advanced. In morning trade, the breadth was weak, but had recovered to unity. However, the breadth collapsed once again later. A total of 97 scrips have remained unchanged.
The BSE Mid-Cap Index settled at 5,652.08 while the BSE Small-Cap Index closed at 6,905.29, both without much of a change.
The BSE cash turnover was Rs 4,158.52 crore while the total market wide turnover was Rs 45893.6 crore.
Among the 30-Sensex pack, 16 advanced while the rest declined.
Cement major ACC was down 4.16% to Rs 782.75, despite reporting a surge of 54.5% in net profit for Q1 March 2007. ACC was the top loser, clocking volumes of 8.07 lakh shares. The cement firm reported a surge in net profit in the March 2007 quarter to Rs 363.75 crore from Rs 235.42 crore in the March 2006 quarter. Net sales surged 26.1% to Rs 1674.83 crore from Rs 1327.52 crore. Firm prices of cement, a key construction commodity, boosted the company’s results, which trickled in some time back. The company’s board also approved sale and transfer of RMX Business, to ACC Concrete, a new, wholly-owned, subsidiary which has been incorporated for the purpose.
HDFC (down 2% to Rs 1563.50), Bajaj Auto (down 2.08% to Rs 2445), Bhel (down 1.82% to Rs 2507.50) and ONGC (down 1.49% to Rs 892) were the other losers.
Frontline software stocks slipped on profit-booking. The BSE IT Index was the top-loser among sectoral indices. It lost 75 points (1.5%). Infosys (down 1.82% to Rs 2040), Wipro (down 0.38% to Rs 584), Satyam Computers (down 2.56% to Rs 449.80) and TCS (down 0.16% to Rs 1244.95) dropped.
Larsen & Toubro (L&T) gained 0.39% to Rs 1666, on reports that the company had plans for facilities in China. The facilities being planned are for machines, switchgear, valves, tyre-curing and pressing and coal gassification. Larsen & Toubro plans to source the raw material required for forgings and castings for its manufacturing bases in India. Further, the firm is planning an initial investment of $ 11 million to introduce new products in the Chinese market.
Index heavyweight Reliance Industries (RIL) rose 0.24% to Rs 1490, on a volume of 13.87 lakh shares. The scrip had recovered from a low of Rs 1462, and surged to a high of Rs 1499.50, an all-time high. RIL has scheduled a meeting of the board of directors on 26 April 2007, to consider the unaudited financial results for the quarter & year ended March 2007. Also, as per a report in a newspaper, RIL has discovered significant quantities of gas in an offshore block in Saurashtra, Gujarat. RIL is the operator of the block with a 70% stake, while Oil India has the remaining 30% stake.
Gujarat Ambuja Cements was the top-gainer, up 1.81% to Rs 115, on a volume of 17.18 lakh shares.
State-run State Bank of India (SBI) gained 1.70% to Rs 1053, on a volume of 9.05 lakh shares. The state-run lender had surged sharply from a low of Rs 1014, to a high of Rs 1062.40. The Cabinet today approved changes in a banking law to impart greater operational freedom to SBI’s subsidiaries, a government spokeswoman said. After the news, shares of three such SBI subsidiaries - State Bank of Mysore (up 10%), State Bank of Travancore (up 5%) and State Bank of Bikaner & Jaipur (up 1.49%) advanced. Four other subsidiaries were not listed on the stock exchanges. It may be recalled that in May 2006, the government moved a bill in Parliament proposing the reduction of State Bank of India’s stake in its seven subsidiaries to 51% each from the mandated level of 55%. Amendments were also proposed to ease restrictions on fund-raising and individual share ownership. There was also a move to raise the voting rights of investors in SBI’s subsidiaries from the existing 1% to 10%.
Helped by SBI and ICICI Bank, the BSE Bankex settled 0.6% higher, at 6,848.85.
Cigarette major ITC advanced 1.24% to Rs 159, on volumes of 15.32 lakh shares.
Auto counter Hero Honda (up 1.10% to Rs 656) and Maruti Udyog (up 1.47% to Rs 779) were the other gainers.
ICICI Bank moved higher by 1.52% to Rs 910.55, and recovered from an initial 2.98% drop to Rs 870.10. According to a news report, the Reserve Bank of India (RBI) is likely to permit Temasek and the Government of Singapore Investment Corporation (GIC) to raise their stakes in the private bank to 10% each. Temasek holds 7.41% stake in ICICI Bank and Government of Singapore Investment Corp (GIC) 2.29%. The two cannot currently buy more shares of ICICI Bank since their combined stake already stands at almost 10%, the limit for a single foreign institutional investor (FII) in one company.
Advanta India settled at a premium, at Rs 850.05, on high volumes of 58.80 lakh shares on BSE. It was listed on BSE at Rs 640, and had retreated sharply to a low of Rs 591, before a U-turn to strike a high of Rs 992.90. Advanta India, a subsidiary of United Phosphorus, had fixed Rs 640 per share as the issue price.
Shares of tyre makers surged after MRF reported a surge of 511.9% in net profit in the March 2007 quarter. MRF surged 6.55% to Rs 3640 on high volumes of 8,887 shares. JK Industries (up 12.70% to Rs 130), CEAT (up 9.83% to Rs 138), and Goodyear India (up 6.26% to Rs 152) advanced. A sharp fall in natural rubber prices also aided the surge in tyre scrips. Tokyo September 2007 rubber futures tumbled by the daily 10-yen limit to 286.9 yen ($2.42) per kg.
MRF’s net profit jumped 511.9% to Rs 35.74 crore in Q2 March 2007 from Rs 5.84 crore in Q2 March 2006. Net sales surged 23.1% to Rs 1083.52 crore from Rs 879.60 crore. As per recent reports, tyre makers plan to import some natural rubber this year to ensure adequate supplies and keep a check on domestic prices.
Punj Lloyd rose 1.59% to Rs 185.40, after it won a $ 44.9 million pipeline contract in Qatar. The new contract with extension involves the engineering, procurement and construction of fuel farm, fuel receiving station, jet fuel hydrant system, ground service equipment fuel system, ground service equipment washing system, portable water station and operation office, parking facility for hydrant dispenser vehicles, triturator facility, special fuel system equipment, special systems in building / facilities (BMS/CCTV). The project will be completed by December 2008.
MNC associate bearings manufacturer, SKF India, surged 6.39% to Rs 354.45 on expectations of strong Q1 March 2007 results. It unveils Q1 March 2007 results on 26 April 2007.
Apollo Tyres gained 5.7% to Rs 300.40, after a sharp fall in natural rubber prices, a key raw material in the manufacture of tyres.
Sterling Biotech rose 3.57% to Rs 172.65. It was the fifth-biggest gainer from the ‘A’ group. The stock rose for the second day in a row. It had risen 16.1% on Wednesday (18 April) to Rs 166.70. The company today reported 25.8% growth in net profit in March 2007 quarter to Rs 38.05 crore (Rs 30.23 crore).
Deccan Aviation jumped 5% to Rs 114.10, on news that the company was close to finalising a deal for raising $75 - 100 million. The company has given a mandate to Edelweiss Capital to raise these funds to finance its fleet expansion, build on-ground infrastructure, and strengthen its training and engineering capabilities. The funds are likely to come from private equity investors, news papers reported on Thursday. The diversified Anil Dhirubhai Ambani group and Texas Pacific Group are among the potential investors.
Kirloskar Brothers lost 1.53% to Rs 363, even as the company bagged an order worth Rs 336 crore. Kirloskar Brothers said on Thursday it had received an extension for the Gandikota Lift Irrigation Scheme and the new project was worth Rs 336 crore.
Network services company, GTL rose 0.37% to Rs 164.70, as its board decided to consider a buy-back of shares on 25 April 2007.
Tata Chemicals gained 2% to Rs 214.80, after the company said on Thursday a tribunal of the central excise had set aside an order of excise commissioner, Haldia, Kolkata, seeking duty and penalty of Rs 557 crore. The tribunal passed its order overruling the excise commissioner’s directive on 27 March 2007, the company said in a statement.
The Hang Seng Index in Hong Kong was down 2.30%, while the Nikkei 225 Index had lost 1.67%.
The Shanghai Composite Index fell 4.52%, to end at 3,449.01, after hitting an intraday low of 3,358.93. It was the biggest daily drop in the index since 27 February 2007, when it fell nearly 9% — unsettling global markets. Chinese shares plunged with a heavy turnover on Thursday on concerns that the Chinese government may raise interest rates to cool its rapidly growing economy.
Traders noted fears among investors that China’s macroeconomic data for March might suggest the economy was overheating, which could prompt a rate hike from its central bank.
China’s gross domestic product (GDP) in the first quarter grew 11.1% from a year earlier, compared with a 10.4% annual rise in the fourth quarter of 2006.
The government on Thursday decided to exempt services exports from service tax and boost merchandise exports by fixing a target of $160 billion for 2007-08.
Announcing the annual supplement of the Foreign Trade Policy, Commerce and Industry Minister Kamal Nath said the export target of $125 billion for 2006-07 had been met and the government hoped to achieve $160 billion in the current financial year.
“Besides merchandise exports, the country also exported services worth $76.10 billion,” he said.
The government has also extended the popular Duty Entitlement Passbook (DEPB) scheme for exporters till March 2008. A new scheme to replace DEPB would be finalised by then.
According to the Meteorological Department, India’s annual June-September monsoon rains are likely to be 95% of the long-term average, as per weather office statement. The monsoon is the main source of water for agriculture in India.
Global crude oil futures rose slightly Wednesday on energy stockpiles report. Light, sweet crude for May delivery added 3 cents to 63.13 US dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery rose 11 cents to 66.04 dollars a barrel on the ICE Futures exchange in London. The Energy Department reported on Wednesday that its crude inventories fell by 1 million barrels last week, while its gasoline stockpiles fell 2.7 million barrels.
The Dow Jones industrial average closed at an all-time high on Wednesday, as stronger-than-expected profits from JP Morgan Chase & Co eased on concerns about the impact of the subprime lending crisis on big banks. The Dow Jones industrial average gained 30.80 points, or 0.24%, to close at a record 12,803.84. The Standard & Poor’s 500 Index added 1.02 points, or 0.07%, to finish at 1,472.50. But the Nasdaq Composite Index slipped 6.45 points, or 0.26%, to close at 2,510.50.
FII inflows have picked up after Infosys gave a strong guidance for FY 2008 in dollar terms, setting to rest concerns about the impact of a slowdown in the US on India’s IT sector. FIIs were net buyers to the tune of Rs 788.30 crore on Monday (16 April), the day when the Sensex had surged 312 points in a global rally. They were net buyers to the tune of Rs 648.50 crore on Tuesday (17 April). FII inflows for the first few days of April 2007, stand at Rs 3804.30 crore (till 17 April).
As per provisional data, FIIs were net buyers to the tune of Rs 465 crore on Wednesday (18 April). Domestic institutional investors were net buyers to the tune of Rs 19 crore on the same day.
The 30-share BSE Sensex was down 52.49 points (0.38%), at 13,619.7. It had opened lower, at 13,538.71, and slumped to a low of 13,423.64, tracking weak global markets. However, the barometer index begun retrieving lost ground and had even touched a high of 13,658.11, after buying resumed.
The S&P CNX Nifty declined 13.95 points (0.35%), to 3,997.65.
The market stayed weak as selling continued in the late-afternoon session of trades. However, strong buying began in the late-afternoon, helping the market wipe out the earlier sharp losses.
Global markets underwent a steep correction. All European as well as Asian indices were trading with losses.
The market-breadth, an indication of the market’s health, was weak as well. A host of stocks from the smallcap and mid-cap space faltered. For 1,341 stocks that declined on BSE, 1,179 advanced. In morning trade, the breadth was weak, but had recovered to unity. However, the breadth collapsed once again later. A total of 97 scrips have remained unchanged.
The BSE Mid-Cap Index settled at 5,652.08 while the BSE Small-Cap Index closed at 6,905.29, both without much of a change.
The BSE cash turnover was Rs 4,158.52 crore while the total market wide turnover was Rs 45893.6 crore.
Among the 30-Sensex pack, 16 advanced while the rest declined.
Cement major ACC was down 4.16% to Rs 782.75, despite reporting a surge of 54.5% in net profit for Q1 March 2007. ACC was the top loser, clocking volumes of 8.07 lakh shares. The cement firm reported a surge in net profit in the March 2007 quarter to Rs 363.75 crore from Rs 235.42 crore in the March 2006 quarter. Net sales surged 26.1% to Rs 1674.83 crore from Rs 1327.52 crore. Firm prices of cement, a key construction commodity, boosted the company’s results, which trickled in some time back. The company’s board also approved sale and transfer of RMX Business, to ACC Concrete, a new, wholly-owned, subsidiary which has been incorporated for the purpose.
HDFC (down 2% to Rs 1563.50), Bajaj Auto (down 2.08% to Rs 2445), Bhel (down 1.82% to Rs 2507.50) and ONGC (down 1.49% to Rs 892) were the other losers.
Frontline software stocks slipped on profit-booking. The BSE IT Index was the top-loser among sectoral indices. It lost 75 points (1.5%). Infosys (down 1.82% to Rs 2040), Wipro (down 0.38% to Rs 584), Satyam Computers (down 2.56% to Rs 449.80) and TCS (down 0.16% to Rs 1244.95) dropped.
Larsen & Toubro (L&T) gained 0.39% to Rs 1666, on reports that the company had plans for facilities in China. The facilities being planned are for machines, switchgear, valves, tyre-curing and pressing and coal gassification. Larsen & Toubro plans to source the raw material required for forgings and castings for its manufacturing bases in India. Further, the firm is planning an initial investment of $ 11 million to introduce new products in the Chinese market.
Index heavyweight Reliance Industries (RIL) rose 0.24% to Rs 1490, on a volume of 13.87 lakh shares. The scrip had recovered from a low of Rs 1462, and surged to a high of Rs 1499.50, an all-time high. RIL has scheduled a meeting of the board of directors on 26 April 2007, to consider the unaudited financial results for the quarter & year ended March 2007. Also, as per a report in a newspaper, RIL has discovered significant quantities of gas in an offshore block in Saurashtra, Gujarat. RIL is the operator of the block with a 70% stake, while Oil India has the remaining 30% stake.
Gujarat Ambuja Cements was the top-gainer, up 1.81% to Rs 115, on a volume of 17.18 lakh shares.
State-run State Bank of India (SBI) gained 1.70% to Rs 1053, on a volume of 9.05 lakh shares. The state-run lender had surged sharply from a low of Rs 1014, to a high of Rs 1062.40. The Cabinet today approved changes in a banking law to impart greater operational freedom to SBI’s subsidiaries, a government spokeswoman said. After the news, shares of three such SBI subsidiaries - State Bank of Mysore (up 10%), State Bank of Travancore (up 5%) and State Bank of Bikaner & Jaipur (up 1.49%) advanced. Four other subsidiaries were not listed on the stock exchanges. It may be recalled that in May 2006, the government moved a bill in Parliament proposing the reduction of State Bank of India’s stake in its seven subsidiaries to 51% each from the mandated level of 55%. Amendments were also proposed to ease restrictions on fund-raising and individual share ownership. There was also a move to raise the voting rights of investors in SBI’s subsidiaries from the existing 1% to 10%.
Helped by SBI and ICICI Bank, the BSE Bankex settled 0.6% higher, at 6,848.85.
Cigarette major ITC advanced 1.24% to Rs 159, on volumes of 15.32 lakh shares.
Auto counter Hero Honda (up 1.10% to Rs 656) and Maruti Udyog (up 1.47% to Rs 779) were the other gainers.
ICICI Bank moved higher by 1.52% to Rs 910.55, and recovered from an initial 2.98% drop to Rs 870.10. According to a news report, the Reserve Bank of India (RBI) is likely to permit Temasek and the Government of Singapore Investment Corporation (GIC) to raise their stakes in the private bank to 10% each. Temasek holds 7.41% stake in ICICI Bank and Government of Singapore Investment Corp (GIC) 2.29%. The two cannot currently buy more shares of ICICI Bank since their combined stake already stands at almost 10%, the limit for a single foreign institutional investor (FII) in one company.
Advanta India settled at a premium, at Rs 850.05, on high volumes of 58.80 lakh shares on BSE. It was listed on BSE at Rs 640, and had retreated sharply to a low of Rs 591, before a U-turn to strike a high of Rs 992.90. Advanta India, a subsidiary of United Phosphorus, had fixed Rs 640 per share as the issue price.
Shares of tyre makers surged after MRF reported a surge of 511.9% in net profit in the March 2007 quarter. MRF surged 6.55% to Rs 3640 on high volumes of 8,887 shares. JK Industries (up 12.70% to Rs 130), CEAT (up 9.83% to Rs 138), and Goodyear India (up 6.26% to Rs 152) advanced. A sharp fall in natural rubber prices also aided the surge in tyre scrips. Tokyo September 2007 rubber futures tumbled by the daily 10-yen limit to 286.9 yen ($2.42) per kg.
MRF’s net profit jumped 511.9% to Rs 35.74 crore in Q2 March 2007 from Rs 5.84 crore in Q2 March 2006. Net sales surged 23.1% to Rs 1083.52 crore from Rs 879.60 crore. As per recent reports, tyre makers plan to import some natural rubber this year to ensure adequate supplies and keep a check on domestic prices.
Punj Lloyd rose 1.59% to Rs 185.40, after it won a $ 44.9 million pipeline contract in Qatar. The new contract with extension involves the engineering, procurement and construction of fuel farm, fuel receiving station, jet fuel hydrant system, ground service equipment fuel system, ground service equipment washing system, portable water station and operation office, parking facility for hydrant dispenser vehicles, triturator facility, special fuel system equipment, special systems in building / facilities (BMS/CCTV). The project will be completed by December 2008.
MNC associate bearings manufacturer, SKF India, surged 6.39% to Rs 354.45 on expectations of strong Q1 March 2007 results. It unveils Q1 March 2007 results on 26 April 2007.
Apollo Tyres gained 5.7% to Rs 300.40, after a sharp fall in natural rubber prices, a key raw material in the manufacture of tyres.
Sterling Biotech rose 3.57% to Rs 172.65. It was the fifth-biggest gainer from the ‘A’ group. The stock rose for the second day in a row. It had risen 16.1% on Wednesday (18 April) to Rs 166.70. The company today reported 25.8% growth in net profit in March 2007 quarter to Rs 38.05 crore (Rs 30.23 crore).
Deccan Aviation jumped 5% to Rs 114.10, on news that the company was close to finalising a deal for raising $75 - 100 million. The company has given a mandate to Edelweiss Capital to raise these funds to finance its fleet expansion, build on-ground infrastructure, and strengthen its training and engineering capabilities. The funds are likely to come from private equity investors, news papers reported on Thursday. The diversified Anil Dhirubhai Ambani group and Texas Pacific Group are among the potential investors.
Kirloskar Brothers lost 1.53% to Rs 363, even as the company bagged an order worth Rs 336 crore. Kirloskar Brothers said on Thursday it had received an extension for the Gandikota Lift Irrigation Scheme and the new project was worth Rs 336 crore.
Network services company, GTL rose 0.37% to Rs 164.70, as its board decided to consider a buy-back of shares on 25 April 2007.
Tata Chemicals gained 2% to Rs 214.80, after the company said on Thursday a tribunal of the central excise had set aside an order of excise commissioner, Haldia, Kolkata, seeking duty and penalty of Rs 557 crore. The tribunal passed its order overruling the excise commissioner’s directive on 27 March 2007, the company said in a statement.
The Hang Seng Index in Hong Kong was down 2.30%, while the Nikkei 225 Index had lost 1.67%.
The Shanghai Composite Index fell 4.52%, to end at 3,449.01, after hitting an intraday low of 3,358.93. It was the biggest daily drop in the index since 27 February 2007, when it fell nearly 9% — unsettling global markets. Chinese shares plunged with a heavy turnover on Thursday on concerns that the Chinese government may raise interest rates to cool its rapidly growing economy.
Traders noted fears among investors that China’s macroeconomic data for March might suggest the economy was overheating, which could prompt a rate hike from its central bank.
China’s gross domestic product (GDP) in the first quarter grew 11.1% from a year earlier, compared with a 10.4% annual rise in the fourth quarter of 2006.
The government on Thursday decided to exempt services exports from service tax and boost merchandise exports by fixing a target of $160 billion for 2007-08.
Announcing the annual supplement of the Foreign Trade Policy, Commerce and Industry Minister Kamal Nath said the export target of $125 billion for 2006-07 had been met and the government hoped to achieve $160 billion in the current financial year.
“Besides merchandise exports, the country also exported services worth $76.10 billion,” he said.
The government has also extended the popular Duty Entitlement Passbook (DEPB) scheme for exporters till March 2008. A new scheme to replace DEPB would be finalised by then.
According to the Meteorological Department, India’s annual June-September monsoon rains are likely to be 95% of the long-term average, as per weather office statement. The monsoon is the main source of water for agriculture in India.
Global crude oil futures rose slightly Wednesday on energy stockpiles report. Light, sweet crude for May delivery added 3 cents to 63.13 US dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery rose 11 cents to 66.04 dollars a barrel on the ICE Futures exchange in London. The Energy Department reported on Wednesday that its crude inventories fell by 1 million barrels last week, while its gasoline stockpiles fell 2.7 million barrels.
The Dow Jones industrial average closed at an all-time high on Wednesday, as stronger-than-expected profits from JP Morgan Chase & Co eased on concerns about the impact of the subprime lending crisis on big banks. The Dow Jones industrial average gained 30.80 points, or 0.24%, to close at a record 12,803.84. The Standard & Poor’s 500 Index added 1.02 points, or 0.07%, to finish at 1,472.50. But the Nasdaq Composite Index slipped 6.45 points, or 0.26%, to close at 2,510.50.
FII inflows have picked up after Infosys gave a strong guidance for FY 2008 in dollar terms, setting to rest concerns about the impact of a slowdown in the US on India’s IT sector. FIIs were net buyers to the tune of Rs 788.30 crore on Monday (16 April), the day when the Sensex had surged 312 points in a global rally. They were net buyers to the tune of Rs 648.50 crore on Tuesday (17 April). FII inflows for the first few days of April 2007, stand at Rs 3804.30 crore (till 17 April).
As per provisional data, FIIs were net buyers to the tune of Rs 465 crore on Wednesday (18 April). Domestic institutional investors were net buyers to the tune of Rs 19 crore on the same day.
Thursday, April 19, 2007
TOMORROW SAFE BET FOR INTRADAY
BEML@CMP TARGET 975-85-90 BUT FIRST CHECK THE MARKET DIRECTION.AS IT IS SAFE COUNTER NOW SO YOU CAN TAKE POSITIONS ALSO .
due to high volatility in the markets no posting on intraday calls
as general intraday calls ll b given through yahoo messanger..
post market analysis
The market edged higher today, extending a recent solid rebound but profit-taking at the higher levels capped gains. Although market-breadth ended positive, it had weakened in the latter part of trading. Subdued European markets pulled the Sensex down from a near two-month peak in afternoon trade.
Tata Steel dropped due to concerns of equity dilution after they unveiled funding plans for the Corus acquisition. PSU banks extended their uptrend. Auto and cement shares dropped. IT pivotals were mixed. Index heavyweight Reliance Industries (RIL) struck a new all-time high.
The 30-share BSE Sensex gained 65.15 points (0.48%), to 13,672.19. It had come off the higher level after surging as many as 155.88 points, to 13,762.92 at 13:15 IST, its highest level since 23 February 2007.
The S&P CNX Nifty advanced 26.65 points (0.67%), to settle at 4,011.60.
Against 1,324 stocks that rose on BSE compared to 1,243 that declined. Just 93 scrips were unchanged. Gainers outpaced losers by a ratio of 1.06:1. In early-afternoon trade, the advance-decline ratio was a 1.65:1.
European markets opened on a subdued note today despite gains in Asian markets. Key benchmark indices in London, Germany and France were down between 0.2 - 0.5%. Asian markets edged up after data eased fears over inflation in the United States, a key export market for the region. Key benchmark indices in Japan, South Korea, and Taiwan were up between 0.4 - 0.8%.
Firm global bourses and continued FII-buying, have boosted the bourses over the past few days after the Sensex tanked 617 points in a single trading session on 2 April following the Reserve Bank of India (RBI)’s surprise hike in interest rates announced after trading hours on 30 March 2007. From a low of 12,455.37 on 2 April 2007, the Sensex has gained 1,216.82 points (9.76%) in a short while.
Stocks across the globe have surged over the past few weeks amid growing confidence that the benign backdrop of solid global economic growth and moderate inflation will continue. Global liquidity still remains strong. It has helped global markets recover quickly from recent steep corrections.
FII inflows have picked up after Infosys gave a strong guidance for FY 2008 in dollar terms, putting to rest concerns of the impact of a slowdown in the US on India’s IT sector. FIIs were net buyers to the tune of Rs 788.30 crore on Monday (16 April), the day when the Sensex had surged 312 points in a global rally. They were net buyers to the tune of Rs 648.50 crore on Tuesday (17 April). FII inflows for the first few days of April 2007, stand at Rs 3804.30 crore (till 17 April).
Stock-specific activity is likely on the bourses in the near-term, as the earnings reportage season has just begun. On 24 April 2007, the Reserve Bank of India (RBI) will announce an Annual Policy Statement for FY 2007-08. There are concerns among market men that interest rates may go up further since inflation remains above the RBI’s target range of 5 - 5.5%. Higher interest rates raise borrowing costs and impact corporate profits.
In today’s trade, sectoral indices on BSE were mixed. The BSE Healthcare Index added 57.68 points (1.56%), to end at 3,762.60. It was the top-gainer among sectoral indices on BSE. The banking sector index, the BSE Bankex, advanced 72.22 points (1.07%), to 6,810.72. The BSE Tech Index, which is a free-float index comprising IT, telecom and media shares rose 31.14 points (0.85%), to end at 3,677.68
The BSE Auto Index lost 21.74 points (0.45%), to finish 4,843.53. The BSE Metal Index lost 22.29 points (0.24%), to end at 9,415.02.
The BSE clocked a turnover of Rs 3961 crore, compared to Tuesday’s Rs 4565 crore.
Infosys shed 0.3% to Rs 2075. The stock had declined 2.1% to Rs 2081.70 on Tuesday (17 April) after the rupee struck a nine-year high against the US dollar. The rupee’s surge is a cause of concern for IT firms, as it directly impacts their revenue and profits, a lion’s share of which is accounted for by exports.
At the time of announcing Q4 March 2007 results, Infosys had pointed out that its operating margins would be impacted by about 150-160 basis points (bps) due to rupee inflation and by 300 bps on account of wage inflation. The company plans to compensate the impact through improved utilisations, lower losses in subsidiaries and scaled benefit from selling & general as well as administration expenses.
Tata Steel dropped 3% to Rs 511.60. However, the stock came off the lower level attained on losing as much as 6.1% to Rs 496.35, at the onset of the trading session. A whopping 47.4 lakh shares changed hands in the counter on BSE.
Tata Steel said on Tuesday it will raise Rs 3655 crore ($872 million) from a rights issue, to fund a $12-billion acquisition of Anglo-Dutch steelmaker Corus Group. The Indian steelmaker will offer a rights share at Rs 300 each in 1:5 ratio. Tata Steel also plans to raise Rs 4350 crore from the rights issue of preference shares, the company said. It was also looking at a foreign issue of an equity-related instrument to raise up to $500 million, with an issue of global depositary receipts being an option.
Automobile makers slipped. Bajaj Auto lost 3% to Rs 2471. The stock had surged 4.2% in the past two trading sessions following reports that India will enjoy a healthy monsoon. Tata Motors shed 1.1% to Rs 722.
Cement pivotals slipped on profit-taking. Grasim shed 1.5% to Rs 2336 and Gujarat Ambuja Cements (GACL) shed 0.7% to Rs 112.90. Cement scrips had recovered from a lower level over the past few days on expectations of strong March 2007 quarter results from cement firms. ACC unveils results on 19 April 2007, followed by GACL on 20 April 2007.
ONGC gained 1.6% to Rs 905.50. Recently, the company had unveiled its expansion plans.
PSU banks extended gains, triggered by data showing cooling of inflation for the week ended 31 March 2007. State Bank of India gained nearly 3% to Rs 1037, Andhra Bank rose 5% to Rs 82.75, Corporation Bank rose 3% to Rs 312, Bank of India advanced 2.8% to Rs 188.25, and Punjab National Bank gained 1.9% to Rs 476.90. India’s wholesale price index rose 5.74% in the 12 months to 31 March 2007, lower than an increase of 6.39% a week earlier, data showed on Friday (13 April 2007).
HCL Tech jumped 6.6% to Rs 322, after reporting strong Q3 March 2007 numbers on completion of trading on Tuesday. The consolidated net profit as per US GAAP rose 15.9% on a sequential basis to Rs 331.80 crore from Rs 286.20 crore in Q2 December 2006. Revenue rose 7.6% to Rs 1577.10 crore from Rs 1465.10 crore.
Dish TV settled at Rs 102.55 on BSE. The stock debuted at Rs 120, which is also its high so far. Dish TV also hit a low of Rs 100. Volumes in the scrip were a huge 1.88 crore shares on BSE. Dish TV has nearly 2 million subscribers and competes with a joint venture between Tata group and News Corp as well as state-owned Prasar Bharti.
Index heavyweight Reliance Industries rose 0.6% to Rs 1485. The stock hit a high of Rs 1495, which is a lifetime high for the scrip. The stock has surged this month after Chairman Mukesh Ambani had said on Monday that the petrochemicals cycle was yet to peak.
NTPC surged 3% to Rs 161.90. The stock hit a high of Rs 163.55, which is a lifetime high for the scrip. A strong 16.8 lakh shares changed hands in the counter on BSE
Telecom stocks advanced on strong growth in new subscriptions in March 2007. Bharti Airtel rose 1.7% to Rs 813 and Reliance Communications gained 0.5% to Rs 435
Siemens dropped 4% to Rs 1065. Siemens announces Q2 March 2007 results on 23 April 2007.
Metal shares extended gains tracking firm global metal prices. Hindalco gained 1.3% to Rs 145.20, Sterlite Industries rose 2.8% to Rs 522.95 and Hindustan Zinc advanced 4% to Rs 667. Copper, zinc and aluminium futures rose 2.5 - 6% on London Metal Exchange (LME) on Tuesday.
Praj Industries dropped 2.3% to Rs 451.75, even as the company announced a liberal 1:1 bonus during trading hours.
GTL jumped nearly 17% to Rs 163, on rumours that the company will announce a buy-back of shares. As many as 28 lakh shares changed hands in the counter on BSE.
Godavari Fertilisers rose 0.9% to Rs 124. The company reported 44% fall in net profit in the March 2007 quarter, to Rs 6.20 crore (Rs 11.07 crore).
Genus Overseas Electronics surged nearly 3% to Rs 290, after reporting a 58% surge in net profit in the March 2007 quarter at Rs 12.63 crore (Rs 8 crore).
Construction firm Valecha Engineering dropped 1.4% to Rs 228.40, even as the company secured orders worth Rs 100 crore, the new set of contract taking the company’s order-book close to Rs 1000 crore.
Infotech Enterprises plunged 5% to Rs 366, after the company today reported a surge in net profit in the March 2007 quarter to Rs 20.90 crore from Rs 10.60 crore. Net sales surged to Rs 96.58 crore from Rs 65.20 crore.
Software services firm Prithvi Information Solutions gained nearly 3% to Rs 293, on reporting 49% growth in net profit in the March 2007 quarter to Rs 26.01 crore from Rs 17.50 crore in the March 2006 quarter. Net sales surged 89% to Rs 259.22 crore from Rs 136.97 crore.
TV Today gained 5% to Rs 147.30, as Reliance Capital announced an open offer worth up to Rs 151 crore to raise its stake in the news broadcaster by up to 20%.
Petron Engineering Construction jumped 5.4% to Rs 148, after the company said on Wednesday it had won a contract worth Rs 37.76 crore from China’s Sichuan Fortune Project Management Company.
Alfa Laval India dropped nearly 4% to Rs 944, after its Swedish parent shot down rumours that it would revise upwards the open offer price of Rs 875 per share for raising its stake in the Indian subsidiary. The scrip had spurted 9.3% to Rs 981.60 on Tuesday (17 April).
ICRA lost 2% to Rs 889. The stock had dropped on Tuesday after a solid surge since the debut on Friday (13 April). Pent-up demand for the scrip from the IPO, which was subscribed 75 times, had kept the counter ticking.
Wall Street traded mostly higher on Tuesday, briefly pushing the Dow Jones industrials into record territory, after a rise in home construction and a mild reading on consumer inflation encouraged investors to buy. The Dow traded as high as 12,790.02, passing its closing high of 12,786.64 set on 20 February 2007, and approached its trading high of 12,795.93, attained on the same day. Dow Average settled 52.58 points, or 0.41%, up at 12,773.04. Broader stock indicators were mixed. The Standard & Poor’s 500 Index rose 3.01 points, or 0.20%, to finish at 1,471.48, while the Nasdaq Composite Index fell 1.38%, or 0.05%, to 2,516.95.
US March housing stats rose 0.8% — a feeble rise compared with February’s 7.6% advance, but much better than the drop investors expected. Building permits also rose. US stocks have had many tumultuous weeks this year due to worries about the financial troubles of the subprime lending sector spilling into the already sluggish housing market.
The US Labour Department’s core consumer price index rose 0.1% in March, less than expected, and alleviating some anxiety about the Federal Reserve’s need to raise interest rates to curb costs. The overall consumer price index, which takes into account energy and food, rose 0.6% in March — the largest increase in 11 months — and was in line with expectations.
Tata Steel dropped due to concerns of equity dilution after they unveiled funding plans for the Corus acquisition. PSU banks extended their uptrend. Auto and cement shares dropped. IT pivotals were mixed. Index heavyweight Reliance Industries (RIL) struck a new all-time high.
The 30-share BSE Sensex gained 65.15 points (0.48%), to 13,672.19. It had come off the higher level after surging as many as 155.88 points, to 13,762.92 at 13:15 IST, its highest level since 23 February 2007.
The S&P CNX Nifty advanced 26.65 points (0.67%), to settle at 4,011.60.
Against 1,324 stocks that rose on BSE compared to 1,243 that declined. Just 93 scrips were unchanged. Gainers outpaced losers by a ratio of 1.06:1. In early-afternoon trade, the advance-decline ratio was a 1.65:1.
European markets opened on a subdued note today despite gains in Asian markets. Key benchmark indices in London, Germany and France were down between 0.2 - 0.5%. Asian markets edged up after data eased fears over inflation in the United States, a key export market for the region. Key benchmark indices in Japan, South Korea, and Taiwan were up between 0.4 - 0.8%.
Firm global bourses and continued FII-buying, have boosted the bourses over the past few days after the Sensex tanked 617 points in a single trading session on 2 April following the Reserve Bank of India (RBI)’s surprise hike in interest rates announced after trading hours on 30 March 2007. From a low of 12,455.37 on 2 April 2007, the Sensex has gained 1,216.82 points (9.76%) in a short while.
Stocks across the globe have surged over the past few weeks amid growing confidence that the benign backdrop of solid global economic growth and moderate inflation will continue. Global liquidity still remains strong. It has helped global markets recover quickly from recent steep corrections.
FII inflows have picked up after Infosys gave a strong guidance for FY 2008 in dollar terms, putting to rest concerns of the impact of a slowdown in the US on India’s IT sector. FIIs were net buyers to the tune of Rs 788.30 crore on Monday (16 April), the day when the Sensex had surged 312 points in a global rally. They were net buyers to the tune of Rs 648.50 crore on Tuesday (17 April). FII inflows for the first few days of April 2007, stand at Rs 3804.30 crore (till 17 April).
Stock-specific activity is likely on the bourses in the near-term, as the earnings reportage season has just begun. On 24 April 2007, the Reserve Bank of India (RBI) will announce an Annual Policy Statement for FY 2007-08. There are concerns among market men that interest rates may go up further since inflation remains above the RBI’s target range of 5 - 5.5%. Higher interest rates raise borrowing costs and impact corporate profits.
In today’s trade, sectoral indices on BSE were mixed. The BSE Healthcare Index added 57.68 points (1.56%), to end at 3,762.60. It was the top-gainer among sectoral indices on BSE. The banking sector index, the BSE Bankex, advanced 72.22 points (1.07%), to 6,810.72. The BSE Tech Index, which is a free-float index comprising IT, telecom and media shares rose 31.14 points (0.85%), to end at 3,677.68
The BSE Auto Index lost 21.74 points (0.45%), to finish 4,843.53. The BSE Metal Index lost 22.29 points (0.24%), to end at 9,415.02.
The BSE clocked a turnover of Rs 3961 crore, compared to Tuesday’s Rs 4565 crore.
Infosys shed 0.3% to Rs 2075. The stock had declined 2.1% to Rs 2081.70 on Tuesday (17 April) after the rupee struck a nine-year high against the US dollar. The rupee’s surge is a cause of concern for IT firms, as it directly impacts their revenue and profits, a lion’s share of which is accounted for by exports.
At the time of announcing Q4 March 2007 results, Infosys had pointed out that its operating margins would be impacted by about 150-160 basis points (bps) due to rupee inflation and by 300 bps on account of wage inflation. The company plans to compensate the impact through improved utilisations, lower losses in subsidiaries and scaled benefit from selling & general as well as administration expenses.
Tata Steel dropped 3% to Rs 511.60. However, the stock came off the lower level attained on losing as much as 6.1% to Rs 496.35, at the onset of the trading session. A whopping 47.4 lakh shares changed hands in the counter on BSE.
Tata Steel said on Tuesday it will raise Rs 3655 crore ($872 million) from a rights issue, to fund a $12-billion acquisition of Anglo-Dutch steelmaker Corus Group. The Indian steelmaker will offer a rights share at Rs 300 each in 1:5 ratio. Tata Steel also plans to raise Rs 4350 crore from the rights issue of preference shares, the company said. It was also looking at a foreign issue of an equity-related instrument to raise up to $500 million, with an issue of global depositary receipts being an option.
Automobile makers slipped. Bajaj Auto lost 3% to Rs 2471. The stock had surged 4.2% in the past two trading sessions following reports that India will enjoy a healthy monsoon. Tata Motors shed 1.1% to Rs 722.
Cement pivotals slipped on profit-taking. Grasim shed 1.5% to Rs 2336 and Gujarat Ambuja Cements (GACL) shed 0.7% to Rs 112.90. Cement scrips had recovered from a lower level over the past few days on expectations of strong March 2007 quarter results from cement firms. ACC unveils results on 19 April 2007, followed by GACL on 20 April 2007.
ONGC gained 1.6% to Rs 905.50. Recently, the company had unveiled its expansion plans.
PSU banks extended gains, triggered by data showing cooling of inflation for the week ended 31 March 2007. State Bank of India gained nearly 3% to Rs 1037, Andhra Bank rose 5% to Rs 82.75, Corporation Bank rose 3% to Rs 312, Bank of India advanced 2.8% to Rs 188.25, and Punjab National Bank gained 1.9% to Rs 476.90. India’s wholesale price index rose 5.74% in the 12 months to 31 March 2007, lower than an increase of 6.39% a week earlier, data showed on Friday (13 April 2007).
HCL Tech jumped 6.6% to Rs 322, after reporting strong Q3 March 2007 numbers on completion of trading on Tuesday. The consolidated net profit as per US GAAP rose 15.9% on a sequential basis to Rs 331.80 crore from Rs 286.20 crore in Q2 December 2006. Revenue rose 7.6% to Rs 1577.10 crore from Rs 1465.10 crore.
Dish TV settled at Rs 102.55 on BSE. The stock debuted at Rs 120, which is also its high so far. Dish TV also hit a low of Rs 100. Volumes in the scrip were a huge 1.88 crore shares on BSE. Dish TV has nearly 2 million subscribers and competes with a joint venture between Tata group and News Corp as well as state-owned Prasar Bharti.
Index heavyweight Reliance Industries rose 0.6% to Rs 1485. The stock hit a high of Rs 1495, which is a lifetime high for the scrip. The stock has surged this month after Chairman Mukesh Ambani had said on Monday that the petrochemicals cycle was yet to peak.
NTPC surged 3% to Rs 161.90. The stock hit a high of Rs 163.55, which is a lifetime high for the scrip. A strong 16.8 lakh shares changed hands in the counter on BSE
Telecom stocks advanced on strong growth in new subscriptions in March 2007. Bharti Airtel rose 1.7% to Rs 813 and Reliance Communications gained 0.5% to Rs 435
Siemens dropped 4% to Rs 1065. Siemens announces Q2 March 2007 results on 23 April 2007.
Metal shares extended gains tracking firm global metal prices. Hindalco gained 1.3% to Rs 145.20, Sterlite Industries rose 2.8% to Rs 522.95 and Hindustan Zinc advanced 4% to Rs 667. Copper, zinc and aluminium futures rose 2.5 - 6% on London Metal Exchange (LME) on Tuesday.
Praj Industries dropped 2.3% to Rs 451.75, even as the company announced a liberal 1:1 bonus during trading hours.
GTL jumped nearly 17% to Rs 163, on rumours that the company will announce a buy-back of shares. As many as 28 lakh shares changed hands in the counter on BSE.
Godavari Fertilisers rose 0.9% to Rs 124. The company reported 44% fall in net profit in the March 2007 quarter, to Rs 6.20 crore (Rs 11.07 crore).
Genus Overseas Electronics surged nearly 3% to Rs 290, after reporting a 58% surge in net profit in the March 2007 quarter at Rs 12.63 crore (Rs 8 crore).
Construction firm Valecha Engineering dropped 1.4% to Rs 228.40, even as the company secured orders worth Rs 100 crore, the new set of contract taking the company’s order-book close to Rs 1000 crore.
Infotech Enterprises plunged 5% to Rs 366, after the company today reported a surge in net profit in the March 2007 quarter to Rs 20.90 crore from Rs 10.60 crore. Net sales surged to Rs 96.58 crore from Rs 65.20 crore.
Software services firm Prithvi Information Solutions gained nearly 3% to Rs 293, on reporting 49% growth in net profit in the March 2007 quarter to Rs 26.01 crore from Rs 17.50 crore in the March 2006 quarter. Net sales surged 89% to Rs 259.22 crore from Rs 136.97 crore.
TV Today gained 5% to Rs 147.30, as Reliance Capital announced an open offer worth up to Rs 151 crore to raise its stake in the news broadcaster by up to 20%.
Petron Engineering Construction jumped 5.4% to Rs 148, after the company said on Wednesday it had won a contract worth Rs 37.76 crore from China’s Sichuan Fortune Project Management Company.
Alfa Laval India dropped nearly 4% to Rs 944, after its Swedish parent shot down rumours that it would revise upwards the open offer price of Rs 875 per share for raising its stake in the Indian subsidiary. The scrip had spurted 9.3% to Rs 981.60 on Tuesday (17 April).
ICRA lost 2% to Rs 889. The stock had dropped on Tuesday after a solid surge since the debut on Friday (13 April). Pent-up demand for the scrip from the IPO, which was subscribed 75 times, had kept the counter ticking.
Wall Street traded mostly higher on Tuesday, briefly pushing the Dow Jones industrials into record territory, after a rise in home construction and a mild reading on consumer inflation encouraged investors to buy. The Dow traded as high as 12,790.02, passing its closing high of 12,786.64 set on 20 February 2007, and approached its trading high of 12,795.93, attained on the same day. Dow Average settled 52.58 points, or 0.41%, up at 12,773.04. Broader stock indicators were mixed. The Standard & Poor’s 500 Index rose 3.01 points, or 0.20%, to finish at 1,471.48, while the Nasdaq Composite Index fell 1.38%, or 0.05%, to 2,516.95.
US March housing stats rose 0.8% — a feeble rise compared with February’s 7.6% advance, but much better than the drop investors expected. Building permits also rose. US stocks have had many tumultuous weeks this year due to worries about the financial troubles of the subprime lending sector spilling into the already sluggish housing market.
The US Labour Department’s core consumer price index rose 0.1% in March, less than expected, and alleviating some anxiety about the Federal Reserve’s need to raise interest rates to curb costs. The overall consumer price index, which takes into account energy and food, rose 0.6% in March — the largest increase in 11 months — and was in line with expectations.
nifty outlook for 19.04.07
continous of higer trading with very marginal volumes and not showing strenght at upper levels of 4025-30 is showing the reason of reversal as expanding triangle developed on the charts is showing that immediate support and strong support level is 3980 if it manages to break this level then we can see more 60 points fall in nifty same day .and on upper level 4025-4058-4070 are very crucial levels which i can say that almost confirm that we are not going to cross these levels tomorrow as charts are expressing their way as today us market is trading higher after that also i am saying like that then beting a big risk on my analysis .as we can see range bound trading at higher levels ..but if it comes down then it will not range bound if it breaks then i am sure it ll not give u time to think also .
as on 24th rbi is also meeting and so many kinds of rumours are floating in the market ..so we cant take it seriously but my dear all prevention is always better then cure ..so as higher mkt goes sell ur longs slowely ...
as on 24th rbi is also meeting and so many kinds of rumours are floating in the market ..so we cant take it seriously but my dear all prevention is always better then cure ..so as higher mkt goes sell ur longs slowely ...
Tuesday, April 17, 2007
our short term call
our short term call posted on 30th march on prak industry is gained over 30% and goderaj consumer also so kindly book profits in these counters. accordingly atleast book your 50% here .or 70% you can book here..
NIFTY OUTLOOK FOR 18.04.07
NIFTY.......great to spell and so tough to explain ...as the uk infaltion is not favaourable for the uk and it's trading lower international cues are also strong but some rumours are also coming to indian market which make me to take cautions as today we see profit booking not too much a little bit .but today is over and we start thinking about tomorrow what will happen tomorrow .
as dow is trading with a big gain and nasdaq is trading on a marginal gain and rest world market almost down...so i am expecting a week opening with 15-25 low opening after that market can only show buying with banking as today it is worst in the market ..and cement rally today but tomorrow we i am not geting sector to give rally as metal also i am expecting some cooling off as metal pack gives very smart rally these days .tomorrow range of nifty is 3975 major support and resistance we can see at 4009 if it crosses then we can see 4040 here is the profit booking point ..for all longs and sl for all short covering ..
b cautious today ..
as dow is trading with a big gain and nasdaq is trading on a marginal gain and rest world market almost down...so i am expecting a week opening with 15-25 low opening after that market can only show buying with banking as today it is worst in the market ..and cement rally today but tomorrow we i am not geting sector to give rally as metal also i am expecting some cooling off as metal pack gives very smart rally these days .tomorrow range of nifty is 3975 major support and resistance we can see at 4009 if it crosses then we can see 4040 here is the profit booking point ..for all longs and sl for all short covering ..
b cautious today ..
Monday, April 16, 2007
STOCKS TO WATCH ON 17.04.07
BUY WITH PROPER SL THIS IS NT A TRADING CALL BUT THEY ARE SAFE BETS FOR TOMORROW THEY GIVE YOU GOOD RETURN CHANCES ARE MORE TO PERFORM.
RANBAXY,MAHASEAMLESS,RPL,SATYAM.
RANBAXY,MAHASEAMLESS,RPL,SATYAM.
NIFTY VIEWS FOR 17.04.07
NIFTY VIEWS FOR 17.04.07 .
I DONT WANT TO EXPLAIN MORE AND I CANT SAY THAT MARKET FALLS AS CHARTS SAYING ALL THE TRUTHS BUT SEE THE MIRACLE ..BUT TOMORROW IS THE DAY OF CAUTION.
NIFTY LEVELS-4040 CAN B SEEN ON UPPER HAND ...AFTER THAT A PROFIT BOOKING CAN BE SEEN IN THE MARKETS UPTO 3970-3950 LEVELS.KEEP SL OF YOUR ALL LONGS AT 3910.
I DONT WANT TO EXPLAIN MORE AND I CANT SAY THAT MARKET FALLS AS CHARTS SAYING ALL THE TRUTHS BUT SEE THE MIRACLE ..BUT TOMORROW IS THE DAY OF CAUTION.
NIFTY LEVELS-4040 CAN B SEEN ON UPPER HAND ...AFTER THAT A PROFIT BOOKING CAN BE SEEN IN THE MARKETS UPTO 3970-3950 LEVELS.KEEP SL OF YOUR ALL LONGS AT 3910.
NIFTY VIEWS FOR 17.04.07
NIFTY VIEWS FOR 17.04.07 .
I DONT WANT TO EXPLAIN MORE AND I CANT SAY THAT MARKET FALLS AS CHARTS SAYING ALL THE TRUTHS BUT SEE THE MIRACLE ..BUT TOMORROW IS THE DAY OF CAUTION.
NIFTY LEVELS-4040 CAN B SEEN ON UPPER HAND ...AFTER THAT A PROFIT BOOKING CAN BE SEEN IN THE MARKETS UPTO 3970-3950 LEVELS.KEEP SL OF YOUR ALL LONGS AT 3910.
I DONT WANT TO EXPLAIN MORE AND I CANT SAY THAT MARKET FALLS AS CHARTS SAYING ALL THE TRUTHS BUT SEE THE MIRACLE ..BUT TOMORROW IS THE DAY OF CAUTION.
NIFTY LEVELS-4040 CAN B SEEN ON UPPER HAND ...AFTER THAT A PROFIT BOOKING CAN BE SEEN IN THE MARKETS UPTO 3970-3950 LEVELS.KEEP SL OF YOUR ALL LONGS AT 3910.
today's performances
bharti achieved our given target ,
fsl achieved given target .
cairn achieved given 1 st target .
fsl achieved given target .
cairn achieved given 1 st target .
our short term call tata elexi is doing well
our short term call tata elexi is given just before 10 days back is doing great almost 20% appreciation ...one who wish to book they can book 50% here and hold 50% for moreupmove upto 340-360 .
intraday call -16.04.07
buy bharti airtel @773-776 sl 760 target 785-790
buy FSL @market sl below rs 1 and target rs 2.5-3 rs up
wait do not buy steel stcoks today in hurry as a news from cabinet ministry is awaited.
cairn energy @129-130 sl 127.1 target 132-135-138
wish you all happy trading ..buy with proper sl .
buy FSL @market sl below rs 1 and target rs 2.5-3 rs up
wait do not buy steel stcoks today in hurry as a news from cabinet ministry is awaited.
cairn energy @129-130 sl 127.1 target 132-135-138
wish you all happy trading ..buy with proper sl .
Sunday, April 15, 2007
nifty outlook for 16.04.07
as we saw a smart rally in nifty as tomorrow we have another major it result after market hours tcs.expect nifty to touch 3950-3970 but b aware from noon we can see some colling off in the markets so dont play blindely like friday because everyday is nt friday keep proper sl downside nifty can touch 3903 and this level broken we suddenly watch on 3882-3870.
as international market is up so we expect a positive opening with a gap . but the rsi of nifty is showing in overbought conditiond so b carefull.
as international market is up so we expect a positive opening with a gap . but the rsi of nifty is showing in overbought conditiond so b carefull.
Friday, April 13, 2007
stocks to watch -on 13.04.07
this is not intraday call but safe counters for today .if you like then trade in these.
polaris,herohonda,beml,ongc
later intraday call will b given through yahoo messangers if i found market suitable to me .and plz watch market first .dont think so that u missed anything .
polaris,herohonda,beml,ongc
later intraday call will b given through yahoo messangers if i found market suitable to me .and plz watch market first .dont think so that u missed anything .
a great ...theme of analysts ..
see the example and you tell me i cant say anything .
a analyst call like this for today.
13.04.07-
nifty - res- 3860-3883-3900
- sup- 3805-3790-3750
some writes like that - if nifty go below 3805 then go short if nifty above 3850 buy .no body explains for how long nifty ll trade 3805 so many times i do this then what happens i go short below 3805 levels it go down till 3795 and runs to 3825....hahaha down by only 10points and up by 30 points every time it happens then apply your brain or depend on some one who gives you reason why he think like that what's the support and resisitance levels ...nothing it's known by every one after that also every one is paying huge amount to these analysts yeah they do one best thing only is that they are expert in stocks tracking ..which a general people cant do this .because you cant do in lack of time in lack of knowledge so ...before forwarding any steps 'apni akal lagao then paisa lagao'
do not follow me also blindely .....if you thik i am puting reasonable reasons behind my logic then go for that suggestion ..
this is not written with any intention to create disput on any analyst this is my personal views.so i am requesting analysts plz put proper logic behind your res levels and support levels ..
a analyst call like this for today.
13.04.07-
nifty - res- 3860-3883-3900
- sup- 3805-3790-3750
some writes like that - if nifty go below 3805 then go short if nifty above 3850 buy .no body explains for how long nifty ll trade 3805 so many times i do this then what happens i go short below 3805 levels it go down till 3795 and runs to 3825....hahaha down by only 10points and up by 30 points every time it happens then apply your brain or depend on some one who gives you reason why he think like that what's the support and resisitance levels ...nothing it's known by every one after that also every one is paying huge amount to these analysts yeah they do one best thing only is that they are expert in stocks tracking ..which a general people cant do this .because you cant do in lack of time in lack of knowledge so ...before forwarding any steps 'apni akal lagao then paisa lagao'
do not follow me also blindely .....if you thik i am puting reasonable reasons behind my logic then go for that suggestion ..
this is not written with any intention to create disput on any analyst this is my personal views.so i am requesting analysts plz put proper logic behind your res levels and support levels ..
NIFTY OUTLOOK FOR 13.04.07
HI ,
today i am again writing some stuffs about media all tv channels are saying market is direction less due to infosys results can they tell me today market is in down whole day and infosys is in up what's this then any one can say that due to international markets are down yesterday so we also . great' then today all europeon markets are trading higher then tomorrow we also go up then whats the need of technical analysis go see international markets and trade .simple na ?friends dont get confused i just want interpret you all that we are get effected by international markets when some thing hit global sentiment.today their fed gives good decision then their markets are trading in green it not happen with also .
yes i am also agreed that due to infosys results markets showing some nervoiusness but merket is what ?we are market and we get confused can you all tell me how many of you trade everyday infosys ?i think only 20 in 100 so why we all get nervous with infosys results look for some value counters also .
as i feel market can open in negative sentiments and after 10 minutes it will show it's direction so plz wait for atleast 10 minutes.for tomorrow nifty final support is 3750 if any level broken then sure we can see 3750 and upper level which it was not going to cross is 3893 .and more i ll send you on yahoo messanger as i get confused after seeing charts .but my overall view is bearish friends .this is nt guide you all to sell or short this i am expressing that because of 'caution' only so you can also take caution.
a tradition in markets if bull phase going on then so less peoples earn and if bearish phase going on then every one loss....in the markets so my these staments for all of them who doesnt earn much in bull market then y they loss more in bearish market take caution market expiry ll be 3980-4000+ but once it can touch 3680
today i am again writing some stuffs about media all tv channels are saying market is direction less due to infosys results can they tell me today market is in down whole day and infosys is in up what's this then any one can say that due to international markets are down yesterday so we also . great' then today all europeon markets are trading higher then tomorrow we also go up then whats the need of technical analysis go see international markets and trade .simple na ?friends dont get confused i just want interpret you all that we are get effected by international markets when some thing hit global sentiment.today their fed gives good decision then their markets are trading in green it not happen with also .
yes i am also agreed that due to infosys results markets showing some nervoiusness but merket is what ?we are market and we get confused can you all tell me how many of you trade everyday infosys ?i think only 20 in 100 so why we all get nervous with infosys results look for some value counters also .
as i feel market can open in negative sentiments and after 10 minutes it will show it's direction so plz wait for atleast 10 minutes.for tomorrow nifty final support is 3750 if any level broken then sure we can see 3750 and upper level which it was not going to cross is 3893 .and more i ll send you on yahoo messanger as i get confused after seeing charts .but my overall view is bearish friends .this is nt guide you all to sell or short this i am expressing that because of 'caution' only so you can also take caution.
a tradition in markets if bull phase going on then so less peoples earn and if bearish phase going on then every one loss....in the markets so my these staments for all of them who doesnt earn much in bull market then y they loss more in bearish market take caution market expiry ll be 3980-4000+ but once it can touch 3680
ELLIOT WAVE ANALYSIS FOR NIFTY 12.02.07
WAVE 'C' COMPLETE? Nifty as expected unfolded Wave 5 of C. This appears to be a short wave and it now appears that Nifty has started the next leg of the decline. A break below 3850 triggers a decline and any CLOSE below 3817 now will confirm the same. Protect longs if any with extremely strict stop loss levels, AND FOLLOW THEM
Thursday, April 12, 2007
PARSVNATH DEVELOPERS.- A FACT
Type: Engineering, Constructions, Automobile Shipping
Current Price: Rs 278
Target Price: Rs100Time Outline: 12Months
Reason for Recommendation 1: The scrip certainly is in deep downtrend and this could go much lower because there was a lot of fizz about this scrip.
Reason for Recommendation 2: Perhaps the investor now needs to keep a stop of about Rs 222 on Parsvnath , this stock will under perform even if does not go much lower from here.
Reason for Recommendation 3: Most of all I have doubts as to the execution capabilities of management given the number of projects the company has gobbled up in the recent past.
Reason for Recommendation
4: Its SEZ ventures are risky owing to the nature of its business been related to dealing with the government policies.
Reason for Recommendation 5: There can be agonizing negative cash flow issues relating to its hostile procurement of projects.Sector Notes/Buoyancy: Real Estate development the main business of the company is notorious in nature when it comes to execution of large projects in Metro Cities Investment Risk Notes: High Risk to Hold the fizz seems to come to an end from here.
Conclusion: SellCompany
Website: http://www.parsvnath.com
Current Price: Rs 278
Target Price: Rs100Time Outline: 12Months
Reason for Recommendation 1: The scrip certainly is in deep downtrend and this could go much lower because there was a lot of fizz about this scrip.
Reason for Recommendation 2: Perhaps the investor now needs to keep a stop of about Rs 222 on Parsvnath , this stock will under perform even if does not go much lower from here.
Reason for Recommendation 3: Most of all I have doubts as to the execution capabilities of management given the number of projects the company has gobbled up in the recent past.
Reason for Recommendation
4: Its SEZ ventures are risky owing to the nature of its business been related to dealing with the government policies.
Reason for Recommendation 5: There can be agonizing negative cash flow issues relating to its hostile procurement of projects.Sector Notes/Buoyancy: Real Estate development the main business of the company is notorious in nature when it comes to execution of large projects in Metro Cities Investment Risk Notes: High Risk to Hold the fizz seems to come to an end from here.
Conclusion: SellCompany
Website: http://www.parsvnath.com
a general request.
plz dont ask for intraday calls during market hours as i feel anything good then sure i am sending you as i send u gesco a very first call of the day after a hours so plz try to understand the situation of markets it better to do nt trade inspite of giving losses.
and i am dont belive that if 10 calls given and 5 runs it doesnt work ..so co-operate with us and if you have any quiry then plz ask but only abt stocks .
regards.
and i am dont belive that if 10 calls given and 5 runs it doesnt work ..so co-operate with us and if you have any quiry then plz ask but only abt stocks .
regards.
TODAY'S PERFORMANCES OF LIVE CALLS ON YAHOO MESSANGER AND ON BOLG ALSO
GESCO CORP GIVEN AT 609 WITH TARGET 620- TARGET ACHIEVED.
RANBAXY GIVEN AT 336 TOUCHES 339 AT LAST TIME.
BALRAMPUR CHINNI GIVEN AT 72.7 ACHIEVD 73.5
GDL GIVES RS 1 MOVEMENT IN FUTURE AS IT WAS FUTURE CALL .
AS I SAID NIFTY WILL COVER 15-20 AND IT'S COVERS.
less calls given due to the volatility hope u all understand ,so trade less but happily .
RANBAXY GIVEN AT 336 TOUCHES 339 AT LAST TIME.
BALRAMPUR CHINNI GIVEN AT 72.7 ACHIEVD 73.5
GDL GIVES RS 1 MOVEMENT IN FUTURE AS IT WAS FUTURE CALL .
AS I SAID NIFTY WILL COVER 15-20 AND IT'S COVERS.
less calls given due to the volatility hope u all understand ,so trade less but happily .
Nifty outlook for 12.04.07
as i am awaring you all from last two days market is not showing any strenght as i am stating fast reversal and it happens also but suddenly give bounce back and i am stating all time it's traping dont get trapped .but for tomorrow i am not mentioning any resistance like other analysts resistance and support i dont like to hold both coin sides with me tomorrow market can open in negative note as international markets are also trading in red.
so for tomorrow i am expecting a down fall in opening 15-25 points which may lead a sharp fall as we are not seeing any stability at higher levels from last two days markets are ending at marginal profit.so next levels which i found in nifty are 3810-3780-3750 final support .after that expect free fall .again keep in mind at 3900 levels nifty is having super resistance which i dont think so that it ll surpass tomorrow if happens then god knows in the market .and i can say that much only "truth is always stranger then fiction"
no intraday call posting if i found any suitable call then sure i ll send you through yahoo messanger.
b cautious n b happy .
so for tomorrow i am expecting a down fall in opening 15-25 points which may lead a sharp fall as we are not seeing any stability at higher levels from last two days markets are ending at marginal profit.so next levels which i found in nifty are 3810-3780-3750 final support .after that expect free fall .again keep in mind at 3900 levels nifty is having super resistance which i dont think so that it ll surpass tomorrow if happens then god knows in the market .and i can say that much only "truth is always stranger then fiction"
no intraday call posting if i found any suitable call then sure i ll send you through yahoo messanger.
b cautious n b happy .
A BLACK HORSE
BUY VAKRANGEE SOFTWARE @CMP AND ADD MORE QTY IF IT COMES DOWN TO 100-105 LVL WITH A MID-LONG TERM TARGET OF 450.
Wednesday, April 11, 2007
intraday calls 11.04.07
buy bajaj auto @2270-75 sl 2258 tgt-2290,2310,2350
buy sundram clayton@898.6-900 sl 885 tgt-920,930,950
buy fsl@72.1-0.4 sl 71.4 tgt-73.4,74
sell ador welding@196-97 sl 201 tgt 191,187,185.
important- as i am expecting high volatility today plz do nt trade in opening trade and b carefull with SL try to put SL .it's better.
buy sundram clayton@898.6-900 sl 885 tgt-920,930,950
buy fsl@72.1-0.4 sl 71.4 tgt-73.4,74
sell ador welding@196-97 sl 201 tgt 191,187,185.
important- as i am expecting high volatility today plz do nt trade in opening trade and b carefull with SL try to put SL .it's better.
infosys estimates....
Infosys Technologies is to announce its Q4 and FY07 results. According to CNBCTV18 estimates, the company is likely to report net profit of Rs 1039.08 crore (Rs 10.39 billion) in fourth quarter versus Rs 983 crore (Rs 9.83 billion) in the previous quarter, a growth of 5.7%.
nifty outlook for 11.04.07
nifty so tough to analyse today as the graph pattern it made today that kind of graph generally formed in correction phase or before correction...and plz dont get confused correction means 200-300 poitns as i state earlier also i am doing for very short term for tomorrow only as i told yesterday 23-30 poitns sudden reversal after 3830 and it happens today .as the graph formed i am not in favour to give you all target of nifty on upper side most probable chance to slip 40-70 points in nifty today or tomorrow . nifty strong resistant level is 3880.which personally i think now in mood to cross.
one more suggestion again dont make any fresh positions till infy results as it ll provide a direction to market .
a positive opening might lead to profit booking whole day.
nifty supports 3810 3785
nifty resistance 3885 3895
I have marked three days indicated with arrows...on all these days, nifty showed excellent gains but on the lowest volumes within that leg/ rally. The subsequent day had a significantly smaller trading range on higher volumes.
The subsequent action is interesting and I leave this for you to figure out.
Best trading strategy is wait for a convincing breakout above 3900 or below 3750. Either way gains would be very good so missing a part of the action shd not be a cause of concern.
one more suggestion again dont make any fresh positions till infy results as it ll provide a direction to market .
a positive opening might lead to profit booking whole day.
nifty supports 3810 3785
nifty resistance 3885 3895
I have marked three days indicated with arrows...on all these days, nifty showed excellent gains but on the lowest volumes within that leg/ rally. The subsequent day had a significantly smaller trading range on higher volumes.
The subsequent action is interesting and I leave this for you to figure out.
Best trading strategy is wait for a convincing breakout above 3900 or below 3750. Either way gains would be very good so missing a part of the action shd not be a cause of concern.
Monday, April 9, 2007
HINDALCO INDUSTIRES A LONG TERM VIEW.
Target Price: Rs200Time Outline: 10Months
Reason for Recommendation 1: Hindalco Industries is one of Indias largest metal company and of the Aditya Birla Group, run by one of the worlds youngest billionaires, Mr. K.M. Birla. The company has annual sales of $ 2.19 billion and employs 13,675 people, with a total market value U$2.96 billion.
Reason for Recommendation 2: On February 11, 2007, the company acquired the Canadian company Novelis for U$6 billion, in all cash deal making itself the worlds largest rolled-aluminium producer. We recommend a Strong Buy and averaging this stock for those who have bought this already because the quarterly numbers were excellent and the company saw greater than 50% growth in all kinds of margins.
Reason for Recommendation 3: We believe the domestic demand story both for steel and for aluminum is very likely to grow and staying with the leader like Hindalco, you cannot go too wrong. Hindalco is listed on the Forbes Global 2000 list at the position 1821. Hindalco is trading at a PE Ratio of just about seven to eight times its latest numbers and it is just a matter of time before we could witnesss some very great value unlocking in this counter.
Reason for Recommendation 4: The company has a very long standing record of being an Investor friendly company.Sector Notes/Buoyancy: The metal industry is a key sector in the Indian economy as it meets the requirements of a wide range of important industries such as engineering, electrical and electronics, infrastructure,automobile and automobile components, packaging etc. The ongoing reforms in the power sector and focus on improving power infrastructure, is expected to further boost the aluminium sector in India has been achieving growth at a steady and sustained pace.Investment Risk Notes: The risk element stems from the possibility of rise in input costs, which may strain the margins. This is more so, as the buoyant trends in the commodity price cycle for caustic soda and chorine products are likely to persist.Conclusion: Strong BuyCompany Website: http://www.hindalco.net/
Reason for Recommendation 1: Hindalco Industries is one of Indias largest metal company and of the Aditya Birla Group, run by one of the worlds youngest billionaires, Mr. K.M. Birla. The company has annual sales of $ 2.19 billion and employs 13,675 people, with a total market value U$2.96 billion.
Reason for Recommendation 2: On February 11, 2007, the company acquired the Canadian company Novelis for U$6 billion, in all cash deal making itself the worlds largest rolled-aluminium producer. We recommend a Strong Buy and averaging this stock for those who have bought this already because the quarterly numbers were excellent and the company saw greater than 50% growth in all kinds of margins.
Reason for Recommendation 3: We believe the domestic demand story both for steel and for aluminum is very likely to grow and staying with the leader like Hindalco, you cannot go too wrong. Hindalco is listed on the Forbes Global 2000 list at the position 1821. Hindalco is trading at a PE Ratio of just about seven to eight times its latest numbers and it is just a matter of time before we could witnesss some very great value unlocking in this counter.
Reason for Recommendation 4: The company has a very long standing record of being an Investor friendly company.Sector Notes/Buoyancy: The metal industry is a key sector in the Indian economy as it meets the requirements of a wide range of important industries such as engineering, electrical and electronics, infrastructure,automobile and automobile components, packaging etc. The ongoing reforms in the power sector and focus on improving power infrastructure, is expected to further boost the aluminium sector in India has been achieving growth at a steady and sustained pace.Investment Risk Notes: The risk element stems from the possibility of rise in input costs, which may strain the margins. This is more so, as the buoyant trends in the commodity price cycle for caustic soda and chorine products are likely to persist.Conclusion: Strong BuyCompany Website: http://www.hindalco.net/
BUY CALL ADHUNIK METALS .LONG TERM CALL
Target Price: Rs60+Time Outline: 12Months
Reason for Recommendation
1: Profitability of Adhunik Metaliks is very likely to improve considerably owing to its access to mineral resources and its targeted focus on moving up the value chain. The top line and bottom line of the company are on a high growth path going at a CAGR of 75% and 89% over the next two years, leading to an imminent improvement in its top line and bottom lines.
Reason for Recommendation
2: At the CMP, the stock trades at 2.6x its FY2008E and 2.2x its FY2009E earnings of Rs 13.2 and Rs 15.8, respectively. I foresee that the stock will move mo0ve up to a target price of 60 irrespective of the market movement.
Reason for Recommendation
3: The company has carefully planned cost reduction on one hand and value-addition on the other, at all stages of its production cycle. The company's captive power plant of 35MW will save the power cost considerable hence contributing directly to its bottom line.
Reason for Recommendation
4: Also it has procured an allotment of coalmine in Orissa. This will certainly help in holding raw material costs this in turn translates into an integrated value-chain producer with end-to-end capabilities
.Reason for Recommendation
5: Adhunik Metaliks is on track to complete Phase II of its expansion plan; this includes new stainless steel making capacity of 0.12mn TPA. There is going to be a momentous change in the revenue-mix of Adhunik Metaliks towards the higher end value-added rolled segment, from 70 : 30 (billets : rolled) to 30 : 70. Due to this, I expect a considerable improvement in the margins, by around 500 bps. This shift will propel the company into the club of companies like Kalyani Steel, Monet Ispat, MUSCO and Mukand. Sector Notes/Buoyancy: Metals is a sector to be in this year. Conclusion: Strong BuyCompany Website: http://www.adhunikgroup.com
Reason for Recommendation
1: Profitability of Adhunik Metaliks is very likely to improve considerably owing to its access to mineral resources and its targeted focus on moving up the value chain. The top line and bottom line of the company are on a high growth path going at a CAGR of 75% and 89% over the next two years, leading to an imminent improvement in its top line and bottom lines.
Reason for Recommendation
2: At the CMP, the stock trades at 2.6x its FY2008E and 2.2x its FY2009E earnings of Rs 13.2 and Rs 15.8, respectively. I foresee that the stock will move mo0ve up to a target price of 60 irrespective of the market movement.
Reason for Recommendation
3: The company has carefully planned cost reduction on one hand and value-addition on the other, at all stages of its production cycle. The company's captive power plant of 35MW will save the power cost considerable hence contributing directly to its bottom line.
Reason for Recommendation
4: Also it has procured an allotment of coalmine in Orissa. This will certainly help in holding raw material costs this in turn translates into an integrated value-chain producer with end-to-end capabilities
.Reason for Recommendation
5: Adhunik Metaliks is on track to complete Phase II of its expansion plan; this includes new stainless steel making capacity of 0.12mn TPA. There is going to be a momentous change in the revenue-mix of Adhunik Metaliks towards the higher end value-added rolled segment, from 70 : 30 (billets : rolled) to 30 : 70. Due to this, I expect a considerable improvement in the margins, by around 500 bps. This shift will propel the company into the club of companies like Kalyani Steel, Monet Ispat, MUSCO and Mukand. Sector Notes/Buoyancy: Metals is a sector to be in this year. Conclusion: Strong BuyCompany Website: http://www.adhunikgroup.com
Apr 24 policy meet may not touch rates, say FIIs
With the RBI just increasing their key lending rates, repo rate and CRR this Friday, FIIs are expecting one or two more rate hikes, not necessarily on April 24(When annual policy statement for 2007-08 will be announced), but maybe after 2-3 months. RBI hiked repo rate by 25 bps to 7.75% with immediate effect.
Experts feel that the RBI will not will not play around with the key lending rates in its annual policy statement for 2007-08 on April 24, as it already took some measures to tame inflation.
FIIs, like Adrian Mowat, JP Morgan, see that the problem of overheating is likely to keep the Indian equity markets underperforming.
Executive Director and India Economist of JM Morgan Stanley, Chetan Ahya forecasts one more rate hike and expects one to see a tightening of monetary policy in the next 12 months.
A slowdown in global capital flows will reduce the pressure on RBI to tighten aggressively, either in the form of CRR or repo rate hike, he said.
Ahya said, “one should expect at least 1-2 more rate hikes. But the situation is dynamic; if we get more capital flows, like we have got in the last seven weeks, one could expect RBI to continue to tighten at least in form of CRR hikes going forward, to neutralize those capital inflows.
I would say the probability of the April rate hike has definitely reduced in the near-term. April 24 should kept out of the way. We should now look at whether RBI is going to do more rate hikes or not. There are probably more rate hikes - not necessarily on April 24, but maybe after 2-3 months, depending upon how the macro conditions pan out after that."
He said that the probability of second rate hike is very high because till now whatever measures RBI has taken, it has not seen any evidence of a slowdown particularly in the form of credit growth.
"The last number we have seen is still at around 29%, which is pretty much close to an all time high. So basically, RBI will probably continue to tighten with at least one hike and a probability of a second rate has increased," said
Ahya.
SOURCE-MONEYCONTROL.COM
Experts feel that the RBI will not will not play around with the key lending rates in its annual policy statement for 2007-08 on April 24, as it already took some measures to tame inflation.
FIIs, like Adrian Mowat, JP Morgan, see that the problem of overheating is likely to keep the Indian equity markets underperforming.
Executive Director and India Economist of JM Morgan Stanley, Chetan Ahya forecasts one more rate hike and expects one to see a tightening of monetary policy in the next 12 months.
A slowdown in global capital flows will reduce the pressure on RBI to tighten aggressively, either in the form of CRR or repo rate hike, he said.
Ahya said, “one should expect at least 1-2 more rate hikes. But the situation is dynamic; if we get more capital flows, like we have got in the last seven weeks, one could expect RBI to continue to tighten at least in form of CRR hikes going forward, to neutralize those capital inflows.
I would say the probability of the April rate hike has definitely reduced in the near-term. April 24 should kept out of the way. We should now look at whether RBI is going to do more rate hikes or not. There are probably more rate hikes - not necessarily on April 24, but maybe after 2-3 months, depending upon how the macro conditions pan out after that."
He said that the probability of second rate hike is very high because till now whatever measures RBI has taken, it has not seen any evidence of a slowdown particularly in the form of credit growth.
"The last number we have seen is still at around 29%, which is pretty much close to an all time high. So basically, RBI will probably continue to tighten with at least one hike and a probability of a second rate has increased," said
Ahya.
SOURCE-MONEYCONTROL.COM
SHORT TERM CALL
WE ARE STILL LONG ON OUR SHORT TERM CALL NEYVELI LIGNITE .AS IT PERFORM VERY WELL .
PARAMOUNT COMMUNICATION ONE CAN BUY FOR SHORT TERM GAIN OF 10-15%
PARAMOUNT COMMUNICATION ONE CAN BUY FOR SHORT TERM GAIN OF 10-15%
STOCKS TO WATCH ON 09.02.07 IN LESS QTY FOR INTRADAY AS WELL AS SHORT TERM .
ZEE TELEFILMS ,APIL, SAIL,LANCO INFRA,RCOM,INDIACEM.
THIS IS A BUY CALL FOR INTRADAY AS WELL AS FOR SHORT TERM ALSO SO PLZ BUY THAT MUCH QTY ONLY SO YOU CAN TAKE DELVERY ALSO .
THIS IS A BUY CALL FOR INTRADAY AS WELL AS FOR SHORT TERM ALSO SO PLZ BUY THAT MUCH QTY ONLY SO YOU CAN TAKE DELVERY ALSO .
INTRA DAY CALLS FOR 09.02.07
BUY ABB @3583 SL 3550 TARGET-3650-3680-3700
BUY ACC @722 SL 712 TARGETS-745-752-780
BUY ANSAL INFRA@445 SL 435 TARGETS-470-475-480
NOTE PLZ FOLLOW STRICT STOP LOSSES.
BUY ACC @722 SL 712 TARGETS-745-752-780
BUY ANSAL INFRA@445 SL 435 TARGETS-470-475-480
NOTE PLZ FOLLOW STRICT STOP LOSSES.
INFOSYS - RESULT A TECHNICAL VIEW ...
Infosys being the market leader & its result having greater impact on the market direction, let us discuss some (technical) factors on the stocks.i)
NEGATIVE FACTORSa) Having gap @ 2040 & its a strong resistance till it is being filled up.b) Intermediate trend is down.c) Strong resistance @ 2150.ii)
POSITIVE FACTORSa) Holding 200 DEMA.b) Fibonacci retracement level : it is still holding 38 % retracement level.c) Directional index show recent downtrend is overstretched.d) Divergence in RSI.e) Weekly closing is a hammer.f) strong support @ 1825.g) weekly stochastics is in a buy mode.Conclusion:a) One can go long once gap @ 2040 is taken over.b) Fresh short to be avoided.c) For any investment SL 1825
.Note : I am bullish on infosys till it maintains 1825 level
NEGATIVE FACTORSa) Having gap @ 2040 & its a strong resistance till it is being filled up.b) Intermediate trend is down.c) Strong resistance @ 2150.ii)
POSITIVE FACTORSa) Holding 200 DEMA.b) Fibonacci retracement level : it is still holding 38 % retracement level.c) Directional index show recent downtrend is overstretched.d) Divergence in RSI.e) Weekly closing is a hammer.f) strong support @ 1825.g) weekly stochastics is in a buy mode.Conclusion:a) One can go long once gap @ 2040 is taken over.b) Fresh short to be avoided.c) For any investment SL 1825
.Note : I am bullish on infosys till it maintains 1825 level
NIFTY OUTLOOK FOR 09.02.07
AS NIFTY SPOT CLOSES ABOVE THE RESISTANCE LEVEL OF 3750 I AM EXPECTING A SHARP BOUCE BACK IN THE MARKET TECHNICALLY I AM NOT SEEING ANY FALL UPTO 3830 AS I AM MENTIONING FROM VERY EARLY 3830 IS VERY CRUCIAL LEVEL AND WE CAN CROSS IT IF WE CLOSE 3 TRADING SESSION ABOVE IT .FOR TOMORROW AS MANY SITES SAYING THAT MARKET LL DOWN BUT I DONT THINK SO AND I AM TOO MUCH CONFIDENT THAT TOMORROW WE LL TOUCH 3779 AFTER THAT SOON WE CAN SEE THE LEVELS OF 3808-3810 HERE MINOR RESISTACE LITTLE SEELING OFF WE CAN SEE.BUT NO MATTER OF WORRY .IF NIFTY MANAGE TO CROSS TO PASS THESE LEVELS BEFORE INFOSYS RESULT TRY TO BOOK SOME OF YOUR LONGS STILL WAITING FOR INFOSYS RESULT WHICH NOT LOOKING SO MUCH PROMISING BUT NIFTY LOOKING PROMISING .
NIFTY SUPPORT EXISTS AT 3710 VERY STRONG BELOW THIS NIFTY TURNS VERY WEEK RESISTANCE IS 3750.3783.
MORE ON YAHOO MESSANGER WE LL GIVE .DONT TRADE IN EARLY HOURS OF 5 MINUTES.
NIFTY SUPPORT EXISTS AT 3710 VERY STRONG BELOW THIS NIFTY TURNS VERY WEEK RESISTANCE IS 3750.3783.
MORE ON YAHOO MESSANGER WE LL GIVE .DONT TRADE IN EARLY HOURS OF 5 MINUTES.
Sunday, April 8, 2007
econimic times -report
Today ET came out with a report stating that GOM is meeting next week to lift the export restrictions on Iron Ore this is a very very postive news for Sesa Goa. I expect the stock to be back from where it left i.e 2025 its previous high will be challenged.
Also there is strong possibility that GoM under report from Planning Commission might actively consider to lift the Export Duty of Rs 300 Per Ton Imposed in Feb since Iron Ore Producers Association Strongly represented the case and the Minister for Minerals is backing the same.
This export restriction made Sesa Goa to trade some 200 bucks below its actual tradable price.
So as said before one can go long on Sesa Goa with a target of 1845-2025 by the end of this week.
Also there is strong possibility that GoM under report from Planning Commission might actively consider to lift the Export Duty of Rs 300 Per Ton Imposed in Feb since Iron Ore Producers Association Strongly represented the case and the Minister for Minerals is backing the same.
This export restriction made Sesa Goa to trade some 200 bucks below its actual tradable price.
So as said before one can go long on Sesa Goa with a target of 1845-2025 by the end of this week.
A NEW VIRGIN LARGE CAP STOCK OF FUTURE
MINDTREE CONSULTING BUY CMP WITH TAGET OF RS 1200-1400 IN TIME HORIZON OF 08-12 MONTHS
astrological view on markets ....what stars saying.
Mars in Kumba with power so Reality price from slump it is getting up. Regarding Saturn Direct Govt are fleecing these (profit making companies).. Also Saturn in Cancer watery sign so Oil (petrol) companies stock going up. On the whole when Jupiter aspecting Saturn from Vrichika Banking stock also do well but with a Govt interference it will move up slowly but not according to our satisfaction. Pharma Stock is doing well because Mars in Aquarius square to Jupiter and along with Rahu.
Since Pournima over bullish phase will go you seen from 3rd 4th 5th it was sign of bullishnes. Because two eclipse happend and the monn phase should change.
Saturn is getting direct on the 20th of April.In view of this oil,iron and steel should performwell. Tisco is up almost 6% today on thatanticipation. But property stock which I alwaysbelieved is governed by mars.And Mars is still in thebearish sign Kumbha. Shouldn't we wait till Marsreaches the bullish sign Mesh to start a bullish move
Since Pournima over bullish phase will go you seen from 3rd 4th 5th it was sign of bullishnes. Because two eclipse happend and the monn phase should change.
Saturn is getting direct on the 20th of April.In view of this oil,iron and steel should performwell. Tisco is up almost 6% today on thatanticipation. But property stock which I alwaysbelieved is governed by mars.And Mars is still in thebearish sign Kumbha. Shouldn't we wait till Marsreaches the bullish sign Mesh to start a bullish move
Saturday, April 7, 2007
IFCI back in black with Rs 1000 cr net
After many years of being in the red, term lending institution IFCI is on the verge of announcing a major turnaround with a profit of around Rs 1,000 crore for financial year 2006-07. The turn-around is accompanied by several changes including a new man at the helm of the company. Indian Economic Service officer Atul Kumar Rai will be take over as the new Chief Executive Officer. Rai is currently a director in the Banking Division of the Union Finance Ministry and also sits on the Board of IFCI.
A key target for Rai will be to sustain the revival of the company and develop viable business model. Consultant firm Ernst & Young has already been roped in to find a strategic partner for the company, a process that would take at least two months time, official sources said. Several global financial majors like Citigroup and Barclays have expressed interest. The stake is likely to go to a company which can help IFCI to scale greater heights.
Till December 2006, IFCI had a net profit of Rs 229 crore. In the January-March quarter of 2007, the company raked in Rs 800 crore from a seven per cent stake sale in the National Stock Exchange and about Rs 30 crore by divesting its entire stake in ICRA. About Rs 200 crore of non performing assets are also understood to have been recovered in the last quarter of 2006-07. "The profit will be more than Rs 1,000 crore in 2006-07," said a source. It had made a loss of Rs 74 crore in 2005-06 and Rs 324 crore in 2004-05. According to the data available on the Bombay Stock Exchange, IFCI has been losing money since 2000-01.
The sudden realisation that IFCI is turning black has led to a 135 per cent increase in the share price - to Rs 33 as on March 30 from Rs 14 as on January 8, 2007.
The company's accumulated losses stood at Rs 4,600 crore till March 31, 2006. Out of that the company has made recoveries of Rs 1,000 crore in 2006-07. The company has made loan and other recoveries of about 1100 crore in 2006-07. The aggregate recovery of Rs 2,100 crore is higher than the target of Rs 2,000 crore set for 2006-07.
The accumulated losses will be wiped out very soon as the company has hidden unlocked values in its investments, which can generate Rs 6,000 crore cash anytime. The company has immediate realisable investment of Rs 2,000 crore.
IFCI is in the process of selling Malavika Steel Plant, estimated to fetch close to Rs 600 crore. The 750 acres of land of the Malavika Steel at Sultanpur (UP) can fetch it around Rs 800 crore at the lower end and Rs 2000 crore at the higher end.
Similarly, the company is in the process of selling the land, building, plant and machinery of Hitech Electro Thermics & Hydro Power Ltd. All these will materialise in the early part of 2007-08.
With economy growing at a higher rate and steel, cement and textile sectors looking up, the company is likely to make substantial recoveries from such sectors.IFCI's investments in subsidiaries, associate companies, assisted companies and strategic investments is expected to generate very high returns as many of them are doing very well. IFCI is also understood to have very attractive real estates, which is worth Rs 1,000 crore.
"With money constantly flowing to the institution from investments and the proposed infusion of fresh capital by the strategic investor, the aim is to have a sustainable business model," the sources said. The strategic investor is likely to be given 26 per cent stake.
The strategic investor will bring professional expertise to broaden the basket of products from term lending to retail lending, corporate lending and investment banking, the official said.
A key target for Rai will be to sustain the revival of the company and develop viable business model. Consultant firm Ernst & Young has already been roped in to find a strategic partner for the company, a process that would take at least two months time, official sources said. Several global financial majors like Citigroup and Barclays have expressed interest. The stake is likely to go to a company which can help IFCI to scale greater heights.
Till December 2006, IFCI had a net profit of Rs 229 crore. In the January-March quarter of 2007, the company raked in Rs 800 crore from a seven per cent stake sale in the National Stock Exchange and about Rs 30 crore by divesting its entire stake in ICRA. About Rs 200 crore of non performing assets are also understood to have been recovered in the last quarter of 2006-07. "The profit will be more than Rs 1,000 crore in 2006-07," said a source. It had made a loss of Rs 74 crore in 2005-06 and Rs 324 crore in 2004-05. According to the data available on the Bombay Stock Exchange, IFCI has been losing money since 2000-01.
The sudden realisation that IFCI is turning black has led to a 135 per cent increase in the share price - to Rs 33 as on March 30 from Rs 14 as on January 8, 2007.
The company's accumulated losses stood at Rs 4,600 crore till March 31, 2006. Out of that the company has made recoveries of Rs 1,000 crore in 2006-07. The company has made loan and other recoveries of about 1100 crore in 2006-07. The aggregate recovery of Rs 2,100 crore is higher than the target of Rs 2,000 crore set for 2006-07.
The accumulated losses will be wiped out very soon as the company has hidden unlocked values in its investments, which can generate Rs 6,000 crore cash anytime. The company has immediate realisable investment of Rs 2,000 crore.
IFCI is in the process of selling Malavika Steel Plant, estimated to fetch close to Rs 600 crore. The 750 acres of land of the Malavika Steel at Sultanpur (UP) can fetch it around Rs 800 crore at the lower end and Rs 2000 crore at the higher end.
Similarly, the company is in the process of selling the land, building, plant and machinery of Hitech Electro Thermics & Hydro Power Ltd. All these will materialise in the early part of 2007-08.
With economy growing at a higher rate and steel, cement and textile sectors looking up, the company is likely to make substantial recoveries from such sectors.IFCI's investments in subsidiaries, associate companies, assisted companies and strategic investments is expected to generate very high returns as many of them are doing very well. IFCI is also understood to have very attractive real estates, which is worth Rs 1,000 crore.
"With money constantly flowing to the institution from investments and the proposed infusion of fresh capital by the strategic investor, the aim is to have a sustainable business model," the sources said. The strategic investor is likely to be given 26 per cent stake.
The strategic investor will bring professional expertise to broaden the basket of products from term lending to retail lending, corporate lending and investment banking, the official said.
need your responses
as i feel important that we need news and reports also thats y i am posting some reports and some articels also if you peoples doesnt like these all then plz mail me at -vishwa_deepak1@yahoo.com as it can be specialised blog for calls only but i want to full fill ur all needs of the market so you need not to surf more ..send back your feedbacks at vishwa.indiainfo@gmail.com ,vishwa_deepak1@yahoo.com
textile industry fact sheet
March 2007 saw the Sensex rise by 1.0% and the Nifty rise by 2.0% over February 2007. The only top gainer among large sized players in our universe of textile companies was Century Textiles up by 1.2%. Top losers among the large sized players included JCT and Futura Polyesters down by 15.5% and 15.3% respectively. Year till date January 2007, India's textile exports to the US decreased by 3.0% Y-o-Y to USD 470 mn whereas the market share increased to 5.9% .During the same period China's exports to the US grew by 54.8% to USD 2.8 bn.
Indo Rama Synthetics (India) Ltd has undertaken expansion of its total production capacity from 300,000 tonnes to 600,000 tonnes per annum in the form of two continuous polymerization (CP) plants - one for POY production and another for PSF production at the existing site at Butibori, Nagpur in Maharashtra.
in talks with Reliance Retail, Bharti and the Aditya Birla group for supply of garments and is also talking to an international lingerie brand for a joint venture. Gokaldas Exports is in talks with Reliance Retail, Bharti and the Aditya Birla group for supply of garments and is also talking to an international lingerie brand for a joint venture.
Spentex Industries Ltd is working on plans to double its manufacturing capacity to 10 lakh spindles over the next two years through the brownfield expansion route and acquisition of facilities in the country and abroad.
Siyaram Silk Mills Ltd plans to launch 150 exclusive brand outlets in the next year-and-a-half called F2F, where its major brands will be available under one roof and is also entering the furnishings segment for upholstery and curtains.
plans to set up an INR 250 crore weaving and textile-processing plant near Roorkee, in Uttar Pradesh with production expected to start in March, next year. in India and Europe through acquisition of domestic spinning capacities between 50000-100,000 spindles for up to INR 2 bn and INR 500 mn will be spent to acquire a European specialized marketing and textile design company.
Alps Industries plans to set up an INR 250 crore weaving and textile-processing plant near Roorkee, in Uttar Pradesh with production expected to start in March, next year
Indo Rama Synthetics (India) Ltd has undertaken expansion of its total production capacity from 300,000 tonnes to 600,000 tonnes per annum in the form of two continuous polymerization (CP) plants - one for POY production and another for PSF production at the existing site at Butibori, Nagpur in Maharashtra.
in talks with Reliance Retail, Bharti and the Aditya Birla group for supply of garments and is also talking to an international lingerie brand for a joint venture. Gokaldas Exports is in talks with Reliance Retail, Bharti and the Aditya Birla group for supply of garments and is also talking to an international lingerie brand for a joint venture.
Spentex Industries Ltd is working on plans to double its manufacturing capacity to 10 lakh spindles over the next two years through the brownfield expansion route and acquisition of facilities in the country and abroad.
Siyaram Silk Mills Ltd plans to launch 150 exclusive brand outlets in the next year-and-a-half called F2F, where its major brands will be available under one roof and is also entering the furnishings segment for upholstery and curtains.
plans to set up an INR 250 crore weaving and textile-processing plant near Roorkee, in Uttar Pradesh with production expected to start in March, next year. in India and Europe through acquisition of domestic spinning capacities between 50000-100,000 spindles for up to INR 2 bn and INR 500 mn will be spent to acquire a European specialized marketing and textile design company.
Alps Industries plans to set up an INR 250 crore weaving and textile-processing plant near Roorkee, in Uttar Pradesh with production expected to start in March, next year
SEBI NEW PLAN
Sebi plans 20% upper price band for relisting of stocks
SEBI proposes to introduce a maximum upper limit to shares on the first trading session post demerger, amalgamation, capital reduction, scheme of arrangements and revocation of suspension. The regulator has put up a concept note on this on its website and invited suggestions from the public.The maximum intraday upper limit for such stocks would be 20%, barring for those in the trade-to-trade segment, where the ceiling would be 5%. The market regulator's proposal, however, does not include IPO listings. The move is aimed at checking price rises, beyond a certain limit, on the day of re-listing. Currently, circuit filters on shares are not operational on the first day of the re-listing so as to allow the market to arrive at what they see as a fair value for the share — also called price discovery.The base price for calculating the circuit filters on the day of re-listing will be based on the indicative price or fair value from the merchant banker, who will furnish to the stock exchange the methodology used for arriving at the price.Such controls by the market regulator is against the backdrop of instances where share prices of select companies, which made their debut on the bourses, saw sharp movements. It was suspected that the sharp upmoves were being engineered by a group of investors acting in concert.Merchant bankers and industry observers are not too enthused with the proposal, though they have heaved a sign of relief that it does not extend to IPOs at the moment. But, they are not ruling out such limits for IPOs too in the foreseeable future."When a company chooses to delist, it arrives at a valuation formula on its own and the market has no role to play in it. Hence when the company re-lists on the exchange — the market should be given an opportunity to determine the price," said Prithvi Haldea, managing director, Prime Database, a firm tracking IPOs.Merchant bankers believe imposing of circuit filters on IPOs could reduce the participation of retail investors in the primary market. This is because a large chunk of the retail investments in IPOs are on borrowed money and they look at selling the share on the first day of the listing itself. A circuit filter on the first trading day for IPOs will limit the returns for such investors, who are looking at making some quick profits.
\u003cbr\>"The intention is good, but it distorts the natural price discovery mechanism, which is not good for the market. Rather than such steps, the market regulator should look at introducing short-selling at the earliest
SEBI proposes to introduce a maximum upper limit to shares on the first trading session post demerger, amalgamation, capital reduction, scheme of arrangements and revocation of suspension. The regulator has put up a concept note on this on its website and invited suggestions from the public.The maximum intraday upper limit for such stocks would be 20%, barring for those in the trade-to-trade segment, where the ceiling would be 5%. The market regulator's proposal, however, does not include IPO listings. The move is aimed at checking price rises, beyond a certain limit, on the day of re-listing. Currently, circuit filters on shares are not operational on the first day of the re-listing so as to allow the market to arrive at what they see as a fair value for the share — also called price discovery.The base price for calculating the circuit filters on the day of re-listing will be based on the indicative price or fair value from the merchant banker, who will furnish to the stock exchange the methodology used for arriving at the price.Such controls by the market regulator is against the backdrop of instances where share prices of select companies, which made their debut on the bourses, saw sharp movements. It was suspected that the sharp upmoves were being engineered by a group of investors acting in concert.Merchant bankers and industry observers are not too enthused with the proposal, though they have heaved a sign of relief that it does not extend to IPOs at the moment. But, they are not ruling out such limits for IPOs too in the foreseeable future."When a company chooses to delist, it arrives at a valuation formula on its own and the market has no role to play in it. Hence when the company re-lists on the exchange — the market should be given an opportunity to determine the price," said Prithvi Haldea, managing director, Prime Database, a firm tracking IPOs.Merchant bankers believe imposing of circuit filters on IPOs could reduce the participation of retail investors in the primary market. This is because a large chunk of the retail investments in IPOs are on borrowed money and they look at selling the share on the first day of the listing itself. A circuit filter on the first trading day for IPOs will limit the returns for such investors, who are looking at making some quick profits.
\u003cbr\>"The intention is good, but it distorts the natural price discovery mechanism, which is not good for the market. Rather than such steps, the market regulator should look at introducing short-selling at the earliest
JP MORGAN DOWNGRADES KPIT & A REPORT ON CEMENT INDUSTRY .
JP MorganWe are upgrading KPIT from Neutral to Overweight following a 20%+ share price correction since Jan-2007. Our DCF based Dec-07 target price remains Rs 150/share. We had downgraded the stock in Jan 2007 primarily due to expensive valuations and believe that the share price correction has again made the stock attractive at current levels. Further, our concerns on a possible equity dilution are behind us after an investment from Cargill Ventures. We expect 36% revenue CAGR over FY06-09E with 39% EPS CAGR (post Cargill dilution) over FY06-09E.
Investment of US$9m by Cargill Ventures: Cargill Ventures will invest $4.5 million as preferential share allotment and further US$4.5m as convertible warrants into KPIT. Cargill can convert the warrants into shares at the end of 18 months. Post the Cargill investment, we expect the cash position of KPIT will increase to ~US$25m improving from ~12-13% of annualized sales to a more comfortable 22%. We expect a minor negative impact on FY08-09E EPS of 1-2% due to this dilution.
Fundamentals remain strong: We expect KPIT to see continued business traction especially in the BPO and Automotive segments- driven by strong growth in non-Cummins customers. We expect 36% revenue CAGR over FY06-09E; inline with management's strategic intent of US$250 million revenues by FY10E. Further, we expect margin expansion leading to 43% net profit CAGR and 39% EPS CAGR (post Cargill dilution) over FY06-09E.
Recommendation: KPIT is currently trading at P/E of 14x FY08E EPS, with 39% EPS CAGR over FY06-09E. While we do not expect P/E re-rating, strong EPS growth ahead of the mid-cap peer group would provide share price upsides in our view. Key PT risks include further rupee appreciation and slowdown in IT spending environment.
>Cement: Dont forget the Great Wall of China
As GOI makes Cement imports easier, the local biggies fool themselves-Chinese Cement manufacturing are estimated to be close to 1 billion tonnes compared to India's 156-160 million Tonnes.-China can export Cement from the interiors to Thailand, and use the Thai ports to further ship the Cement to India.-The Chinese can also use the South China based ports like Shanghai and Shenzhen to export cement to South East Asia, thereby free-ing regional surpluses in Indonesia and Thailand to be exported to India and Middle East.-Chinese Institutions backed by the Authoritarian Government, are Volume or Bulk players and they will fight the Indian Cement manufacturers on price.-The so-called domestic infrastructure required to move Bulk Cement, set up local packaging plants and moving it to interiors can be done if the will is there.-The Retail Cement traders sell all brands possible, and do not limit themselves to Exclusive dealer-manufacturer relationship. So the same distribution channels can be used to Sell Chinese manufactured Cement.-Some of the finest pieces of contemporary World Architectural marvels have been built in Beijing where the Asian Games were held, and the next Olympics will be held, and people who have visited Shenzhen, Shanghai, Xian and many more South China cities were give testimony about the quality of Chinese Cement.-Finally, the Great Wall of China was made with the Chinese gravel, it was not imported and the Wall still stands after having been made 400 years ago.-Collectively, a Rs 0.50 decline in domestic Cement prices would mean a loss in profits of roughly Rs 700 to Rs 800 crore per annum for Cement manufacturers.-The companies most at risk would be South based manufacturers and GACL, which has coast based plants.-Creation of a Bulk Cement infrastructure would be beneficial to the Nation and industry at large where most projects now use Ready Mix Concrete (RMC).-So do you still want to own Madras, India and Mysore Cement, as also ACC, GACL and Ultra-Tech???Most cement stocks have been under pressure ever since the Government got into the job of managing cement prices. Big cement company stocks have taken the maximum hit.Imports difficult"As far as cement imports are concerned it is a high volume, low value commodity. Our ports are not equipped to handle huge quantities to make imports feasible. Storage, transportation and handling will add to the cost. Imports are possible only by large consumers," said a cement company official.A minimum consignment of cement imports should be 25,000 tonnes to make it cost-effective. A large cement project at best can consume 2,000 tonnes per month except hydropower projects, which consume about 4,000-5,000 tonnes per month. Cement has a two-month shelf life.Though the Government measures are unlikely to have any financial impact on cement companies, it may hit investor sentiment. "The Government move will not have any financial impact but it is sure to affect investor sentiment. Cement prices in the Indonesian markets are quoting at around $45 per tonne while the average prices in India are around Rs 220 per 50 kg bag.With the fresh Government sops, the landed cost of Indonesian cement will be on par with local prices. However, handling and transportation costs could make it costlier. This apart, none of our ports are capable of handling cement imports," said Mr Hitesh Agarwal, Senior Research Analyst, Angel Borking Ltd.Recently, Pakistan had sent a shipment of 10,000 tonnes cement for sampling. "The prices in Pakistan are higher at Rs 260-270 per bag (50 kg). Even if they offer concessions for bulk exports, it is not going to be feasible," said Mr Agarwal.
Investment of US$9m by Cargill Ventures: Cargill Ventures will invest $4.5 million as preferential share allotment and further US$4.5m as convertible warrants into KPIT. Cargill can convert the warrants into shares at the end of 18 months. Post the Cargill investment, we expect the cash position of KPIT will increase to ~US$25m improving from ~12-13% of annualized sales to a more comfortable 22%. We expect a minor negative impact on FY08-09E EPS of 1-2% due to this dilution.
Fundamentals remain strong: We expect KPIT to see continued business traction especially in the BPO and Automotive segments- driven by strong growth in non-Cummins customers. We expect 36% revenue CAGR over FY06-09E; inline with management's strategic intent of US$250 million revenues by FY10E. Further, we expect margin expansion leading to 43% net profit CAGR and 39% EPS CAGR (post Cargill dilution) over FY06-09E.
Recommendation: KPIT is currently trading at P/E of 14x FY08E EPS, with 39% EPS CAGR over FY06-09E. While we do not expect P/E re-rating, strong EPS growth ahead of the mid-cap peer group would provide share price upsides in our view. Key PT risks include further rupee appreciation and slowdown in IT spending environment.
>Cement: Dont forget the Great Wall of China
As GOI makes Cement imports easier, the local biggies fool themselves-Chinese Cement manufacturing are estimated to be close to 1 billion tonnes compared to India's 156-160 million Tonnes.-China can export Cement from the interiors to Thailand, and use the Thai ports to further ship the Cement to India.-The Chinese can also use the South China based ports like Shanghai and Shenzhen to export cement to South East Asia, thereby free-ing regional surpluses in Indonesia and Thailand to be exported to India and Middle East.-Chinese Institutions backed by the Authoritarian Government, are Volume or Bulk players and they will fight the Indian Cement manufacturers on price.-The so-called domestic infrastructure required to move Bulk Cement, set up local packaging plants and moving it to interiors can be done if the will is there.-The Retail Cement traders sell all brands possible, and do not limit themselves to Exclusive dealer-manufacturer relationship. So the same distribution channels can be used to Sell Chinese manufactured Cement.-Some of the finest pieces of contemporary World Architectural marvels have been built in Beijing where the Asian Games were held, and the next Olympics will be held, and people who have visited Shenzhen, Shanghai, Xian and many more South China cities were give testimony about the quality of Chinese Cement.-Finally, the Great Wall of China was made with the Chinese gravel, it was not imported and the Wall still stands after having been made 400 years ago.-Collectively, a Rs 0.50 decline in domestic Cement prices would mean a loss in profits of roughly Rs 700 to Rs 800 crore per annum for Cement manufacturers.-The companies most at risk would be South based manufacturers and GACL, which has coast based plants.-Creation of a Bulk Cement infrastructure would be beneficial to the Nation and industry at large where most projects now use Ready Mix Concrete (RMC).-So do you still want to own Madras, India and Mysore Cement, as also ACC, GACL and Ultra-Tech???Most cement stocks have been under pressure ever since the Government got into the job of managing cement prices. Big cement company stocks have taken the maximum hit.Imports difficult"As far as cement imports are concerned it is a high volume, low value commodity. Our ports are not equipped to handle huge quantities to make imports feasible. Storage, transportation and handling will add to the cost. Imports are possible only by large consumers," said a cement company official.A minimum consignment of cement imports should be 25,000 tonnes to make it cost-effective. A large cement project at best can consume 2,000 tonnes per month except hydropower projects, which consume about 4,000-5,000 tonnes per month. Cement has a two-month shelf life.Though the Government measures are unlikely to have any financial impact on cement companies, it may hit investor sentiment. "The Government move will not have any financial impact but it is sure to affect investor sentiment. Cement prices in the Indonesian markets are quoting at around $45 per tonne while the average prices in India are around Rs 220 per 50 kg bag.With the fresh Government sops, the landed cost of Indonesian cement will be on par with local prices. However, handling and transportation costs could make it costlier. This apart, none of our ports are capable of handling cement imports," said Mr Hitesh Agarwal, Senior Research Analyst, Angel Borking Ltd.Recently, Pakistan had sent a shipment of 10,000 tonnes cement for sampling. "The prices in Pakistan are higher at Rs 260-270 per bag (50 kg). Even if they offer concessions for bulk exports, it is not going to be feasible," said Mr Agarwal.
buy tatasteel for medium short term with rs635 targets .
a strong growth story continue for tata steel buy @cmp 437 for target of 635 in medium short term
Five top brass at Jet Airways take flight
Five top managers of Jet Airways have quit, citing poor management practices as the main reason for their exit.
The unhappy five consists of V Raju, VP - South East Asia and Vijay Sethi, Senior GM - Customer Services, who have resigned, and Nandini Verma, VP, Corp Affairs, Michel Tan - Head of training, Ravindran, GM – Planning, and Vijay Sethi, Senior GM, Customer Services who have resigned.
The grouses include poor management practices, centralisation of decision making in London and lack of empowerment. Such a sudden loss of top head honchos not only looks bad for the company, which already has its hands full, being involved in a tough legal battle with Air Sahara – a litigation that is likely to impact its balance sheet.
The unhappy five consists of V Raju, VP - South East Asia and Vijay Sethi, Senior GM - Customer Services, who have resigned, and Nandini Verma, VP, Corp Affairs, Michel Tan - Head of training, Ravindran, GM – Planning, and Vijay Sethi, Senior GM, Customer Services who have resigned.
The grouses include poor management practices, centralisation of decision making in London and lack of empowerment. Such a sudden loss of top head honchos not only looks bad for the company, which already has its hands full, being involved in a tough legal battle with Air Sahara – a litigation that is likely to impact its balance sheet.
corporate earning session begins ....what we expects
as the corporate results are on our heads and market is still finding it's direction. international rumours ,inflation,political situations , rupees valuations,high intrest rates,sez policy for infrastructures.... oh god if i think that much then i ll not get any positive results as i am not expecting too much from IT sector because of high value of rupees which ends 19 months high it really little bit matter of worry for IT industry .i am expecting a great results from steel sector,pharma sector,auto also doesnt surprise us in auto i am expecting better only from m&m it's result can surprise us . as i dont expect any miracle in infrastructures they all play marginal role in earning sessions ,banking can surprise markets .
as a new financial year starts and all big B are still waiting for this corporate result session ..when they ll enter and we can find a better approach into market .
so there must b a word comes in mind is "caution" wait for some time dont make fresh positions just keep hold remarks to your portfolio's .
as a new financial year starts and all big B are still waiting for this corporate result session ..when they ll enter and we can find a better approach into market .
so there must b a word comes in mind is "caution" wait for some time dont make fresh positions just keep hold remarks to your portfolio's .
effect of crr in china
as i visited a lot of sites today in all sites somewhere i get mentioned that our markets reacts badely to crr hike in china but i am surprised when i saw sanghai index is in green then y our market .media is creating it hype and some nervous investors also make it very hipe i dont think so that due to china we will react as i told u earlier to have a sharp eye on international markets as our mkt becomes too sensetive it can react to any international movements but i dont think so that beacuse in context of crr we all ready melt of due to our inflations.. & our crr just 3 days before as per as i am concern i am bullish for nifty on monday it will reach upto 3830. 3750 is again a very crucial level for nifty on monday also if it maintain it then it can reach upto 3830 after 3830 i am watching a fall of 50-125 points in nifty if no other major incident happens.but expiry will end up in 3975-4000 .
rest all matters depends very much now on international clues.b watchfull and again i want to say if possible then hedge your positions on monday you ll get one chance to book profits in any conditions if you are short or long in both conditions and plz dont take me in other ways means chit bhi meri pat bhi meri like that pharases..dont try to act bold ..because this time market doesnt make u beautifull if u r bold now .and rest long term investors can take a rest till dec sensex targets 16000 nifty 4400-4500 . but i dont belive in long terms what ll happen ?one two day we can predict or can see but 6 months ?god knows if earthquake ..if flood ...dont b panic i am joking ...
if you found any problems in understanding thsi kindly drop a mail to me if you have ny suggestion then also send me msgs on yahoo also and if my comments make you confused then also msgs me so i can enhanance my comment levels very clear to you all
rest all matters depends very much now on international clues.b watchfull and again i want to say if possible then hedge your positions on monday you ll get one chance to book profits in any conditions if you are short or long in both conditions and plz dont take me in other ways means chit bhi meri pat bhi meri like that pharases..dont try to act bold ..because this time market doesnt make u beautifull if u r bold now .and rest long term investors can take a rest till dec sensex targets 16000 nifty 4400-4500 . but i dont belive in long terms what ll happen ?one two day we can predict or can see but 6 months ?god knows if earthquake ..if flood ...dont b panic i am joking ...
if you found any problems in understanding thsi kindly drop a mail to me if you have ny suggestion then also send me msgs on yahoo also and if my comments make you confused then also msgs me so i can enhanance my comment levels very clear to you all
POLL FOR MONDAY .
crr hike in chine how our markets reacts on monday ?
if ur opinion is down -then plz write yes if no then write no just write yes or no .
PLZ SEND UR ALL RESPONSES AT yahoo messanger at-vishwa_deepak1@yahoo.com .
if ur opinion is down -then plz write yes if no then write no just write yes or no .
PLZ SEND UR ALL RESPONSES AT yahoo messanger at-vishwa_deepak1@yahoo.com .
NEW VISTAS FOR RISK MANAGMENT IN INDIAN EQUITY DERIVATIVES MARKET
Stock markets today are in phase where regulators as well as exchanges need to evolve new risk management techniques for mitigating risks.the turnover in the indian equity derivative market today is far in excess of these in cash setteld equity segment.in such a situation ,it becomes imperative that regulators and exchanges strive to engender more transperancy and disclosures .they also need to look beyonf traditional risk management measures offered by the conventional value at risk models .
a lot has been spoken of the risk in the derivatives market but little has been done about understanding it better .the first step in this direction then become formulation of a clear definition of risk in this market. a large proportion of risk can be mitigated if risk is defined and understood clearly .the proposed solution envisages utilising idle stocks with investors as a sustitue for the expensive margins that they have to put up with a clearing corporation for trannscting in the derivative market .hence a open solution for mitigate the risk of an investor infuture market is that increase the margins proportionally on the basis of performance of particular stocks & on the liquidity of the stock .do not envolve too many stocks in the derivative markets as it has very limit time for the settelment .
to rate this mail at - vishwa_deepak1@yahoo.com
a lot has been spoken of the risk in the derivatives market but little has been done about understanding it better .the first step in this direction then become formulation of a clear definition of risk in this market. a large proportion of risk can be mitigated if risk is defined and understood clearly .the proposed solution envisages utilising idle stocks with investors as a sustitue for the expensive margins that they have to put up with a clearing corporation for trannscting in the derivative market .hence a open solution for mitigate the risk of an investor infuture market is that increase the margins proportionally on the basis of performance of particular stocks & on the liquidity of the stock .do not envolve too many stocks in the derivative markets as it has very limit time for the settelment .
to rate this mail at - vishwa_deepak1@yahoo.com
Friday, April 6, 2007
A NICE NOTE.
A RATIONAL APPROACH WE CAN AFFORD.
( Must Read)
A s we all are doing trading from a long time in this market so many peoples are learning everyday from their mistakes and so many from other’s mistake’s but I want to ask you all is that r we all are perfect by Seeing other’s mistake obviously no because trading is not the methods to learn mistakes or doing correct mistakes it’s not a trial and error field for us. if we try this formula in stock market then nothing will be in our hand at last but the greater unfortunate thing in this market is that after every loss a investor promises himself never repeat it again but he always do the same .and he always try to get sympathy from out sides or start hiding his/her face .. So many psychological barriers I observed in this market. as I am watching this market from last several years so many peoples and my gurus also told me that market is run by so many factors and we have to analyze much more then what we are doing one day I think starting on that you know what market is describing it’s situation to me because I felt that market is driven by millions of peoples and their different psychology so a general psycho adopted in market for sell then we cant see up move till then this selling psychology doesn’t change so from where to found this bottom …all of you are thinking that it’s very tough no it’s not very tough dear as we are talking abt the millions of peoples psychology I don’t know too much but I know one basic fact is that millions come over to this market for only profit so we have to look for that the last investor who is having sumthing at lowest price after whom no body can sell because that price was the last price of that stock after that it become 0 this is called bottom line at last but it never happens because nature also thinks that once things are survived they never can be destroyed so I am obviously talking about good sense means where ever we are now in all worst respects till how much low we can go low ? I think up to 10300 before that no one big holdings to any one as I think if any one who is having then they ll obviously never sell if they didn’t sell at 14k then what u think they ll sell at 10300 never they start buying again ..And they make profit again. Then who is looser obvious traders and swing whose leverage is very high or borrowed money from broker .they are asking for more margin and clients are unable to pay and their positions were sold by a broker and they again take leverage and start booking profit till then they come to their actual netwroth by taking huge risk by paying too much brokerages by paying too much interest again a correction in the market and same thing happens and this cycles going going on so my suggestion is only that margin funding is nt bad but try to find the definition it’s not the loan it’s margin for you and it should be returned to the broker asap .so some smart activities for these peoples who take much leverage or funding. Funding is not bad but we don’t know to take.
1> Always buy nifty stocks never buy and non nifty stocks they may didn’t perform with markets.
2> Always take 50% leverage only save always your 50% for very bad days means on 1500-2500 correction u ll use another 25% funding.
3> Always try to do intraday or short term trading for day to fortnight only and just after getting profit sell out your positions .
4> If you are using very high leverage positions then tell your brokers to take as low brokerage as they can take.
5> Try to hedge your positions always not whole positions but at least 25% of your all portfolio size if you are trading on margin funding.
6> Try to deposite intrest atleast on daily baisis by safe intraday bet .because it’s very bad factor interest on interest from next days ..you are having load of other 18%pa so think how much u hve to make return from your money in one year by paying these all ..brokerage ,interest ,charges,taxes and many more..think on it .
7> Never b so greedy when you are doing trading on funding it’s very strict suggestions to you all .
8> Never try to take your all intraday positions in delvery on funding if you are doing blindly intraday on calls … from someone’s because may they are not fundamentally strong or in general I never see such clients in profit .
9> I think that much is enough for me .
These are based on personal observation of 250 clients form last 2 years why they didn’t turn into profit as I think and start finding reason I found these things which I express already .
If you like this then plz rate it -vishwa_deepak1@yahoo.com.
( Must Read)
A s we all are doing trading from a long time in this market so many peoples are learning everyday from their mistakes and so many from other’s mistake’s but I want to ask you all is that r we all are perfect by Seeing other’s mistake obviously no because trading is not the methods to learn mistakes or doing correct mistakes it’s not a trial and error field for us. if we try this formula in stock market then nothing will be in our hand at last but the greater unfortunate thing in this market is that after every loss a investor promises himself never repeat it again but he always do the same .and he always try to get sympathy from out sides or start hiding his/her face .. So many psychological barriers I observed in this market. as I am watching this market from last several years so many peoples and my gurus also told me that market is run by so many factors and we have to analyze much more then what we are doing one day I think starting on that you know what market is describing it’s situation to me because I felt that market is driven by millions of peoples and their different psychology so a general psycho adopted in market for sell then we cant see up move till then this selling psychology doesn’t change so from where to found this bottom …all of you are thinking that it’s very tough no it’s not very tough dear as we are talking abt the millions of peoples psychology I don’t know too much but I know one basic fact is that millions come over to this market for only profit so we have to look for that the last investor who is having sumthing at lowest price after whom no body can sell because that price was the last price of that stock after that it become 0 this is called bottom line at last but it never happens because nature also thinks that once things are survived they never can be destroyed so I am obviously talking about good sense means where ever we are now in all worst respects till how much low we can go low ? I think up to 10300 before that no one big holdings to any one as I think if any one who is having then they ll obviously never sell if they didn’t sell at 14k then what u think they ll sell at 10300 never they start buying again ..And they make profit again. Then who is looser obvious traders and swing whose leverage is very high or borrowed money from broker .they are asking for more margin and clients are unable to pay and their positions were sold by a broker and they again take leverage and start booking profit till then they come to their actual netwroth by taking huge risk by paying too much brokerages by paying too much interest again a correction in the market and same thing happens and this cycles going going on so my suggestion is only that margin funding is nt bad but try to find the definition it’s not the loan it’s margin for you and it should be returned to the broker asap .so some smart activities for these peoples who take much leverage or funding. Funding is not bad but we don’t know to take.
1> Always buy nifty stocks never buy and non nifty stocks they may didn’t perform with markets.
2> Always take 50% leverage only save always your 50% for very bad days means on 1500-2500 correction u ll use another 25% funding.
3> Always try to do intraday or short term trading for day to fortnight only and just after getting profit sell out your positions .
4> If you are using very high leverage positions then tell your brokers to take as low brokerage as they can take.
5> Try to hedge your positions always not whole positions but at least 25% of your all portfolio size if you are trading on margin funding.
6> Try to deposite intrest atleast on daily baisis by safe intraday bet .because it’s very bad factor interest on interest from next days ..you are having load of other 18%pa so think how much u hve to make return from your money in one year by paying these all ..brokerage ,interest ,charges,taxes and many more..think on it .
7> Never b so greedy when you are doing trading on funding it’s very strict suggestions to you all .
8> Never try to take your all intraday positions in delvery on funding if you are doing blindly intraday on calls … from someone’s because may they are not fundamentally strong or in general I never see such clients in profit .
9> I think that much is enough for me .
These are based on personal observation of 250 clients form last 2 years why they didn’t turn into profit as I think and start finding reason I found these things which I express already .
If you like this then plz rate it -vishwa_deepak1@yahoo.com.
Subscribe to:
Posts (Atom)
countdown
