Sell Ambuja Cements - Indiabulls Securities (Report)

>> Friday, July 31, 2009

Indiabulls Securities Research has maintained its sell rating on Ambuja Cements in its July 30, 2009 research report.

"Ambuja Cements’ results for Q2’09 were a mixed bag. While net sales grew by 18.2% yoy led by a healthy growth in sales volumes and realisations, the EBITDA margin declined by 248 bps yoy and the adjusted net profit fell 3.7% yoy. Our revised fair value estimate of Rs. 92 per share reflects a 10.4% downside from the current market price; hence we maintain our Sell rating," says Indiabulls Securities' research report.


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Accumulate HDIL, target of Rs 280 says Prabhudas Lilladher

Prabhudas Lilladher has maintained its accumulate rating on Housing Development and Infrastructure (HDIL) with a target of Rs 280 in its July 29, 2009 research report.

"HDIL reported revenues to the tune of Rs 2,954 million, a decline of 48% YoY. Revenues were largely led by sales of TDRs. The company sold 1.8 million TDRs during the quarter at an average rate of Rs 1,500/sq.ft. HDIL generated approximately 2 million sq.ft of TDRs during the quarter and currently has 0.5 million sq.ft of TDRs in its inventory. The company reported strong EBITDA margins of 83% due to the large proportion of TDR sales which led to profits increasing by 73.6% QoQ. We have estimated HDIL’s NAV at Rs 312/share. We are valuing the company at 10% discount to NAV which translates to Rs 280. We maintain ‘Accumulate’ rating on the stock," says Prabhudas Lilladher's research report.


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Buy Sterlite Industries says KRChoksey

KRChoksey has recommended a buy rating on Sterlite Industries, in its report dated July 30, 2009.

"Sterlite’s strength lies in its strong balance sheet and lowest cost of operations; with companies foray in to power business its profitability will go up further from next financial year. We value the firm by SOTP method which gives us a valuation of Rs 734 per share and recommend buy rating on the stock," says KRChoksey's report.
Source : Money Control

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Syndicate Bank Q1 results

The Bank has posted a net profit of Rs 2615.60 million for the quarter ended June 30, 2009 as compared to Rs 878.90 million for the quarter ended June 30, 2008. Total Income has increased from Rs 22788.00 million for the quarter ended June 30, 2008 to Rs 29748.60 million for the quarter ended June 30, 2009.


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ABB Q2 results

ABB has posted a net profit of Rs 836.084 million for the quarter ended June 30, 2009 as compared to Rs 1318.102 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 16376.209 million for the quarter ended June 30, 2008 to Rs 15258.705 million for the quarter ended June 30, 2009.


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Hindalco Industries Q1 results

Hindalco Industries has posted a net profit of Rs 4805.60 million for the quarter ended June 30, 2009 where as the same was at Rs 6967.60 million for the quarter ended June 30, 2008. Total Income is Rs 39748.10 million for the quarter ended June 30, 2009 where as the same was at Rs 48621.90 million for the quarter ended June 30, 2008.

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Aban Offshore Q1 result

Aban Offshore has posted a net profit of Rs 1108.511 million for the quarter ended June 30, 2009 as compared to Rs 1236.966 million for the quarter ended June 30, 2008. Total Income has increased from Rs 7702.095 million for the quarter ended June 30, 2008 to Rs 8034.088 million for the quarter ended June 30, 2009.


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NALCO Q1 results

NALCO has posted a net profit of Rs 1264.50 million for the quarter ended June 30, 2009 as compared to Rs 5253.30 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 15937.00 million for the quarter ended June 30, 2008 to Rs 10365.00 million for the quarter ended June 30, 2009.


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Tata Power Q1 results

Tata Power has posted a net profit after tax and Statutoty Appropriations of Rs 3969.70 million for the quarter ended June 30, 2009 as compared to Rs 1625.50 million for the quarter ended June 30, 2008. Total Income has increased from Rs 21133.30 million for the quarter ended June 30, 2008 to Rs 21232.00 million for the quarter ended June 30, 2009.

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Videocon Industries Q3 results

Videocon Industries has posted a net profit of Rs 1243.50 million for the quarter ended June 30, 2009 as compared to Rs 2550.70 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 26204.30 million for the quarter ended June 30, 2008 to Rs 24727.60 million for the quarter ended June 30, 2009.


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Reliance Communications Standalone Q1 results

Reliance Communications has posted a net profit of Rs 3700.00 million for the quarter ended June 30, 2009 as compared to Rs 3473.80 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 35590.60 million for the quarter ended June 30, 2008 to Rs 31970.70 million for the quarter ended June 30, 2009.

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Indian Hotels Q1 results

The Company has posted a net profit after tax of Rs 164.40 million for the quarter ended June 30, 2009 as compared to Rs 612.70 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 3980.10 million for the quarter ended June 30, 2008 to Rs 2939.90 million for the quarter ended June 30, 2009.

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Indiabulls Financial Q1 results

Indiabulls Financial has posted a net profit after tax & minority interest of Rs 719.032 million for the quarter ended June 30, 2009 as compared to Rs 1468.202 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 5646.112 million for the quarter ended June 30, 2008 to Rs 3959.935 million for the quarter ended June 30, 2009.


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Divis Laboratories Q1 results

Divis Laboratories has posted a Net Profit for the period of Rs 42.90 million for the quarter ended June 30, 2009 as compared to Rs 943.30 million for the quarter ended June 30, 2008. Total Income has increased from Rs 2686.30 million for the quarter ended June 30, 2008 to Rs 2201.10 million for the quarter ended June 30, 2009.


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Sterling Biotech Q2 results

Sterling Biotech has posted a net profit of Rs 404.744 million for the quarter ended June 30, 2009 as compared to Rs 571.293 million for the quarter ended June 30, 2008. Total Income has increased from Rs 2804.472 million for the quarter ended June 30, 2008 to Rs 3587.985 million for the quarter ended June 30, 2009


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MTNL Q1 Result

MTNL has posted a net loss of Rs (468.47) million for the quarter ended June 30, 2009 as compared to net profit of Rs 1125.37 million for the quarter ended June 30, 2008.
Total Income has decreased from Rs 12755.76 million for the quarter ended June 30, 2008 to Rs 10853.69 million for the quarter ended June 30, 2009

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Koutons Retail Q1 results

Koutons Retail has posted a net profit of Rs 114.975 million for the quarter ended June 30, 2009 as compared to Rs 108.394 million for the quarter ended June 30, 2009. Total Income has increased from Rs 1587.129 million for the quarter ended June 30, 2008 to Rs 2017.834 million for the quarter ended June 30, 2009.


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Intraday Tips and Market Outlook for July 31st.

US markets ended higher.
Europe also ended higher.
Asia is trading and opened in positive.
Expect the Indian Markets to open positive.
The support for the Sensex is 15000 and the resistance to the up move is at 15600-16046
Nifty: (4571) the support for the Nifty is at 4500 and the resistance to the up move is at 4700-4789

Day Trading Ideas :

RNRL :Buy above 85.90 for targets of 86.50 and 87.85. SL of 84.25

LNT : Buy above 1490 for targets of 1510 and 1525. SL of 1475

IFCI : Buy above 51.25 for targets of 52.2 and 53.1. SL of 50.40

Jai Corp :Buy above 231 for targets of 233 and 235. SL of 228

HDIL :Buy above 280 for targets of 285 and 291. SL of 276

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Reliance Infrastructure Q1 results

Reliance Infrastructure has posted a net profit of Rs 3165.70 million for the quarter ended June 30, 2009 as compared to Rs 2525.40 million for the quarter ended June 30, 2008. Total Income has increased from Rs 24005.50 million for the quarter ended June 30, 2008 to Rs 26905.10 million for the quarter ended June 30, 2009.

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Nestle India announces Q2 results

Nestle India has posted a net profit of Rs 1620.20 million for the quarter ended June 30, 2009 as compared to Rs 1210.90 million for the quarter ended June 30, 2008. Total Income has increased from Rs 10423.40 million for the quarter ended June 30, 2008 to Rs 12183.00 million for the quarter ended June 30, 2009.


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Jai Corp Q1 results

Jai Corp has posted a net profit of Rs 91.30 million for the quarter ended June 30, 2009 as compared to Rs 210.00 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 1214.60 million for the quarter ended June 30, 2008 to Rs 1130.00 million for the quarter ended June 30, 2009.


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Indiabulls Real Estate Q1 results

The Company has posted a net profit of Rs 59.551 million for the quarter ended June 30, 2009 as compared to Rs 68.015 million for the quarter ended June 30, 2008. Total Income has increased from Rs 334.601 million for the quarter ended June 30, 2008 to Rs 347.880 million for the quarter ended June 30, 2009.


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Vishal Information Technologies Bonus Issue – Record Date Announced

Vishal Information Technologies Ltd has informed the market that they have decided the record date for the Bonus issue of 1:2 shares and the record date is August 7th 2009.

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Jaiprakash Hydro Q1 results

The Company has posted a net profit of Rs 365.40 million for the quarter ended June 30, 2009 as compared to Rs 546.00 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 1018.40 million for the quarter ended June 30, 2008 to Rs 825.90 million for the quarter ended June 30, 2009.


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Intraday Tips and Market outlook for July 30th

>> Thursday, July 30, 2009

US markets ended flat.
European markets ended higher.
Asia has opened flat.
Expect the Indian Markets to open flat to positive.
Today we have F&O expiry (Role Over) so expect volatility.
The support for the Sensex is 15280-15100 and the resistance to the up move is at 15600-16046
Nifty: (4513) the support for the Nifty is at 4490-4450 and the resistance to the up move is at 4585-4620-4689

Day Trading Ideas :

RIL : Buy above 1950 for targets of 1965 and 1985. SL of 1940

HDIL : Buy above 268 for targets of 272 and 278. SL of 265

Adlabs : Buy above 262 for targets of 268 and 274. SL of 258

NTPC :Buy above 215 for targets of 218 and 221. SL of 211

Happy Investing !

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Lupin Q1 results

Lupin has posted a net profit of Rs 1401.10 million for the quarter ended June 30, 2009 as compared to Rs 1120.40 million for the quarter ended June 30, 2008. Total Income has increased from Rs 8824.70 million for the quarter ended June 30, 2008 to Rs 11066.40 million for the quarter ended June 30, 2009.

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HDIL Q1 results

The Company has posted a net profit of Rs 1074.70 million for the quarter ended June 30, 2009 as compared to Rs 3179.40 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 6011.30 million for the quarter ended June 30, 2008 to Rs 3186.20 million for the quarter ended June 30, 2009.


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Jindal Steel Q1 results

Jindal Steel has posted a net profit of Rs 9884.70 million for the quarter ended June 30, 2009 as compared to Rs 4436.70 million for the quarter ended June 30, 2008. Total Income has increased from Rs 21803.80 million for the quarter ended June 30, 2008 to Rs 27862.20 million for the quarter ended June 30, 2009.


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Sun Pharmaceutical Q1 results

Sun Pharmaceutical has posted a net profit after minority interest of Rs 1638.40 million for the quarter ended June 30, 2009 as compared to Rs 5014.50 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 10669.10 million for the quarter ended June 30, 2008 to Rs 8146.70 million for the quarter ended June 30, 2009.


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Sterlite Industries Q1 results

Sterlite Industries has posted a net profit after tax attributable of Rs 6726.60 million for the quarter ended June 30, 2009 as compared to Rs 11510.80 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 61725.50 million for the quarter ended June 30, 2008 to Rs 49571.90 million for the quarter ended June 30, 2009.


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Tulip Telecom Q1 results

The Group has posted a net profit of Rs 750.425 million for the quarter ended June 30, 2009 as compared to Rs 459.673 million for the quarter ended June 30, 2008.Total Income has increased from Rs 3346.127 million for the quarter ended June 30, 2008 to Rs 4700.50 million for the quarter ended June 30, 2009.


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Hero Honda Q1 results

The Company has posted a net profit of Rs 5001.10 million for the quarter ended June 30, 2009 as compared to Rs 2728.70 million for the quarter ended June 30, 2008. Total Income has increased from Rs 28902.50 million for the quarter ended June 30, 2008 to Rs 38649.20 million for the quarter ended June 30, 2009.


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Sun TV Q1 results

Sun TV has posted a net profit of Rs 1198.00 million for the quarter ended June 30, 2009 as compared to Rs 1025.40 million for the quarter ended June 30, 2008. Total Income has increased from Rs 2399.50 million for the quarter ended June 30, 2008 to Rs 3018.80 million for the quarter ended June 30, 2009.


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Sesa Goa Q1 results

Sesa Goa has posted a net profit after tax of Rs 4069.40 million for the quarter ended June 30, 2009 where as the same was at Rs 6447.20 million for the quarter ended June 30, 2008.
Total Income is Rs 10250.60 million for the quarter ended June 30, 2009 where as the same was at Rs 13109.30 million for the quarter ended June 30, 2008.

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NMDC Q1 results

NMDC has posted a net profit of Rs 7737.50 million for the quarter ended June 30, 2009 as compared to Rs 9813.10 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 18623.70 million for the quarter ended June 30, 2008 to Rs 15070.60 million for the quarter ended June 30, 2009.


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Power Grid Q1 results

Power Grid has posted a profit after tax of Rs 5466.10 million for the quarter ended June 30, 2009 as compared to Rs 3056.90 million for the quarter ended June 30, 2008. Total Income has increased from Rs 14584.90 million for the quarter ended June 30, 2008 to Rs 18223.20 million for the quarter ended June 30, 2009.


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Reliance Power Q1 results

Reliance Power has posted a net profit after tax and minority interest of Rs 2633.099 million for the quarter ended June 30, 2009 as compared to Rs 612.226 million for the quarter ended June 30, 2008. Total Income has increased from Rs 805.536 million for the quarter ended June 30, 2008 to Rs 3355.116 million for the quarter ended June 30, 2009.


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United Spirits Q1 results

United Spirits has posted a net profit of Rs 1775.90 million for the quarter ended June 30, 2009 where as the same was at Rs 1171.30 million for the quarter ended June 30, 2008. Total Income is Rs 12499.40 million for the quarter ended June 30, 2009 where as the same was at Rs 10406.00 million for the quarter ended June 30, 2008.


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Cairn India Q1 results

Cairn India has posted a net profit of Rs 454.40 million for the quarter ended June 30, 2009 as compared to Rs 1385.80 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 4614.30 million for the quarter ended June 30, 2008 to Rs 3339.20 million for the quarter ended June 30, 2009.


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Intraday Tips and Market outlook for 29th July

>> Wednesday, July 29, 2009

US markets ended flat.
Europe ended in red.
Asia is trading mixed.
Expect the Indian Markets to open flat to positive.
The support for the Sensex is 15280-15100 and the resistance to the up move is at 15600-16046
Nifty: (4564) the support for the Nifty is at 4535-4500 and the resistance to the up move is at 4615-4700-4789

Day Trading Ideas :

REC : Buy above 179 for targets of 182 and 185. SL of 176

HCC : Buy above 116 for targets of 118 and 121. SL of 112

NTPC : Buy above 218 for targets of 222 and 225. SL of 215

RNRL : Buy above 83 for targets of 84.25 and 85.80. SL of 81.50

Happy Investing !

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RBI's credit policy to guide price stability: IndusInd Bank

The concerns ahead of July Monetary Policy was the capability of RBI to manage contradictions with limited resources at its disposal. The aggressive growth plans of the Government will lead to more demand for funds from the system; increased domestic consumer demand will put pressure on rates; cost and demand push factors will be inflationary and sluggish off-shore demand will hit exports to put pressure on exchange rate.
While all these factors will lead to liquidity squeeze and interest rate pressure, the impact on adverse movement of crude oil price is beyond RBI’s control. The task for RBI was tough to manage expectations of the Government; market participants and vote bank, with the ultimate objective of providing momentum to growth with limited price volatility. The market awaited the monetary policy with bullish stance on growth and hawkish stance on inflation (and rates)!

The no-change stance was as expected given the easy liquidity with over Rs.1 trillion flowing into Reverse Repo counter at 3.25% and stable term money market rates. RBI has also provided comfort to address price-stability to minimise impact of growth and inflationary pressures leading to liquidity squeeze and rate reversal. The market remained stable post-monetary policy as there were no surprise elements in the policy. The no-change stance will keep the expectations of the market alive (on cuts in policy rates and/or statutory reserves, whenever such need arises) to guide price-stability in the short term.
Source : Money Control

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Hold Reliance Industries, target of Rs 2020: Sharekhan

"Reliance Industries Ltd (RIL)’s performance in Q1FY2010 was below our and street’s expectations mainly on account of lower-than-expected gross refining margin (GRM) and higher effective tax rate. The company disappointed the street with its GRM declining to USD 7.5 per barrel from USD 15.7 per barrel in Q1FY2009 and USD9.9 per barrel in Q4FY2009. We expect that the ramp-up of gas production from KG D- 6 basin and the stabilisation of RPL’s refinery will be the key drivers of the company’s growth in FY2010 and FY2011. However, lower-than-expected petrochem margins and delay in the ramp-up of gas production from KG D-6 field remain the key risks to our estimates and valuations."


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Hold JP Associates, target of Rs 266: Sharekhan

"In Q1FY2010 JP Associates Ltd (JAL) has reported strong top line growth for all its business verticals. The reported bottom line of the company grew by 2.9x year on year (yoy) due to one-time items. We continue to value JAL using SOTP methodology and value the stock at Rs 266 per share. We have now rolled over our target multiple for cement and E&C business to FY2011. We value the company’s cement business at 6x EV/EBITDA, this implies EV/tonne of US$100 per tonne (based on our capacity expectation of 19.5MTPA in FY2011). For the construction division, we have assigned target EV/ EBITDA multiple of 6x, which is at over 50% discount to that of Larsen & Toubro. For the real estate projects, we have valued Jaypee Greens and Taj Expressway at 1x of its NAV, given the early signs of revival in demand and overwhelming response for JAL’s projects during the quarter."
Source : Money Control.


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NHPC IPO opens on August 7th 2009

>> Tuesday, July 28, 2009

NHPC IPO
Price band : 30 -36
Grey Market premium : ?
Issue Open From 7 August 2009 to 11 August 2009.
To Sell 168 crore shares comprising of 5% divestment of stake by the government and infusion of 10% fresh equity.
Analysis coming soon!

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Adani Power IPO subscribed 3.1 times

The initial public offering of Adani Power has been subscribed over three times in just one hour of the issue opening Tuesday, sources said. The IPO has received most bids at Rs 100 per share.

The IPO, for 29.40 crore shares of face value Rs 10 each, represents 13.5 per cent of the post-issue paid up capital of the company.

The company has fixed the price band in the range of Rs 90-100 per share, resulting in a post money valuation of Rs 196 billion to Rs 218 billion respectively. - ET


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RCF Q1 results

RCF has posted a net profit of Rs 315.50 million for the quarter ended June 30, 2009 as compared to Rs 190.60 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 15735.80 million for the quarter ended June 30, 2008 to Rs 8545.60 million for the quarter ended June 30, 2009.


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Kotak Mahindra Bank Q1 results

Kotak Mahindra Bank has posted a net profit after tax of Rs 2572.863 million for the quarter ended June 30, 2009 as compared to Rs 1498.491 million for the quarter ended June 30, 2008. Total Income has increased from Rs 14872.472 million for the quarter ended June 30, 2008 to Rs 23452.549 million for the quarter ended June 30, 2009.


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GVK Power Q1 results

GVK Power has posted a net profit after tax minority interest of Rs 327.30 million for the quarter ended June 30, 2009 as compared to Rs 405.50 million for the quarter ended June 30, 2008. Total Income has increased from Rs 1413.70 million for the quarter ended June 30, 2008 to Rs 3359.90 million for the quarter ended June 30, 2009.


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Grasim Industries Q1 results

The Company has posted a net profit of Rs 8665.90 million for the quarter ended June 30, 2009 where as the same was at Rs 5141.90 million for the quarter ended June 30, 2008. Total Income is Rs 31072.90 million for the quarter ended June 30, 2009 where as the same was at Rs 26745.70 million for the quarter ended June 30, 2008.

- Standalone results for the quarter ended June 30, 2009 (Q1 FY10) are not strictly comparable owing to sale of Sponge Iron unit effective from May 22, 2009. Corresponding quarter in previous year (QIFY09) included Sponge Iron unit results for full quarter.

The Consolidated Results are as follows

The Group has posted a net profit of Rs 10800.30 million for the quarter ended June 30, 2009 where as the same was at Rs 6718.90 million for the quarter ended June 30, 2008. Total Income is Rs 51794.10 million for the quarter ended June 30, 2009 where as the same was at Rs 45158.60 million for the quarter ended June 30, 2008.

- The results of Idea Cellular Ltd. (Idea) were consolidated as a Joint Venture in Q1FY09, whereas w.e.f. January 01, 2009 Idea results are being consolidated as an Associate, due to which Revenue and PBIT in Consolidated results of Q1 FY10 are not strictly comparable


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Hindustan Unilever announces Q1 results

The Company has posted a net profit of Rs 5431.90 million for the quarter ended June 30, 2009 as compared to Rs 5581.80 million for the quarter ended June 30, 2008. Total Income has increased from Rs 43175.10 million for the quarter ended June 30, 2008 to Rs 45361.70 million for the quarter ended June 30, 2009.


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BPCL Q1 results

The Company has posted a net profit of Rs 6141.20 million for the quarter ended June 30, 2009 as compared to net loss of Rs (10667.00) million for the quarter ended June 30, 2008. Total Income has decreased from Rs 392977.00 million for the quarter ended June 30, 2008 to Rs 261956.00 million for the quarter ended June 30, 2009.


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Everest Kanto Q1 results

Everest Kanto has posted a net profit after share of minority interest of Rs 167.60 million for the quarter ended June 30, 2009 as compared to Rs 350.10 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 1923.00 million for the quarter ended June 30, 2008 to Rs 1539.60 million for the quarter ended June 30, 2009.


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Rural Electrification announces Q1 results

The Company has posted a net profit of Rs 4718.20 million for the quarter ended June 30, 2009 as compared to Rs 2725.60 million for the quarter ended June 30, 2009. Total Income has increased from Rs 10227.80 million for the quarter ended June 30, 2008 to Rs 15089.00 million for the quarter ended June 30, 2009.


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Religare Enterprises announces Q1 results

The Company has posted a net profit of Rs 31.646 million for the quarter ended June 30, 2009 as compared to net loss of Rs (84.170) million for the quarter ended June 30, 2008. Total Income has increased from Rs 17.871 million for the quarter ended June 30, 2008 to Rs 151.241 million for the quarter ended June 30, 2009


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Neyveli Lignite Q1 results

The Company has posted a net profit of Rs 2876.40 million for the quarter ended June 30, 2009 as compared to Rs 2858.30 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 12376.20 million for the quarter ended June 30, 2008 to Rs 10359.40 million for the quarter ended June 30, 2009.


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GMDC Q1 results

GMDC has posted a net profit of Rs 801.499 million for the quarter ended June 30, 2009 as compared to Rs 723.496 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 2824.517 million for the quarter ended June 30, 2008 to Rs 2799.973 million for the quarter ended June 30, 2009.


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Tata Tea Q1 results

Tata Tea has posted a net loss of Rs (195.70) million for the quarter ended June 30, 2009 as compared to net profit of Rs 756.90 million for the quarter ended June 30, 2008. Total Income has increased from Rs 11248.30 million for the quarter ended June 30, 2008 to Rs 13001.90 million for the quarter ended June 30, 2009.


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Intraday Tips and Market Outlook for 28th July.

US markets ended flat.
Asia has opened mixed.
Expect the Indian markets to open flat to positive.
The support for the Sensex is 15280-15100 and the resistance to the up move is at 15600-16046
Nifty: (4570) the support for the Nifty is at 4535-4500 and the resistance to the up move is at 4615-4700-4789

Day Trading Idea :

NTPC : Buy above 215 for targets of 218 and 221. SL of 212

Torent Power : Buy above 215 for targets of 218 and 222. SL of 211

Adlabs: Buy above 370 for targets of 374 and 379. SL of 365

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Adani Power IPO comes to the market today!

The much-awaited big-ticket IPO from the Adani group will open on Tuesday amid high expectations from the group that saw its earlier Adani IPO offering, the Mundra Port & SEZ (MPSEZ) issue, being oversubscribed a record 116 times in November 2007.

Adani Power, which opens its public issue on Tuesday, has completed allocation of shares to anchor investors. It allocated 5.25 crore shares to the domestic and foreign institutional investors for close to Rs 502.14 crore.

Foreign institutional buyers include T Rowe Price, AIC, Ecofin, TPG and Legg Mason. Among domestic institutions, Sundaram Mutual Fund pumped in Rs 81 crore in Adani Power and was allotted shares for Rs 95 each. While TPG and Legg Mason were allotted shares through Credit Swice and CLSA, respectively. T Rowe Price got the highest allocation of Rs 220.10 crore for equity share of Rs 95 each. AIC, Ecofin, TPG and Legg Mason invested Rs 24.20 crore, Rs 24.40, Rs 80 crore and Rs 72.4 crore, respectively.

Adani Power will be the first IPO that will follow the anchor investor norms, made mandatory by Sebi. According to Sebi guidelines, the maximum reservation for anchor investors is 30% of the qualified institutional buyers’ portion. Anchor investors get a definitive allotment with one month’s lock-in period.

Sources said anchor investors sought almost double of the maximum reservation, 30% of the QIB portion. “Adani Group has placed entire value chain of coal linkage, port, generation and transmission in place for Adani Power that will sell about 30% of the generation on merchant basis. It is expected to bring in good returns for investors,” said a market analyst.

Adani Power was to offer 30.17-crore shares with a price band of Rs 90-100 per share. Flagship company and promoter of Adani Power, Adani Enterprise, will dilute 13.84% of its holding in the company.

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Buy Core Projects for target of Rs 138-160: Nirmal Bang

Buy Core Projects for target of Rs 138-160: Nirmal Bang
Nirmal Bang has advised buying Core Projects for target of Rs 138-160.

“Buy Core Projects on dip around Rs 107 levels with stoploss of Rs 102 for a target of Rs 138-160,” said the technical note. - ET

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Buy Anant Raj Industries for short-term target of Rs 134-150: Nirmal Bang

Buy Anant Raj Industries for short-term target of Rs 134-150: Nirmal Bang
Nirmal Bang has recommended buying Anant Raj Industries for short-term target of Rs
134-150.

“Buy Anant Raj Industries on on dips. The stock has strong support at Rs 106-101 levels. Short term target could be around Rs 134-150,” the report said.


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L&T makes key contribution to India`s first N-powered submarine

Larsen & Toubro (L&T), an engineering and construction major has played a critical role in building India`s first nuclear powered submarine, launched on July 26, 2009.

Based on the design provided by the navy & defence research and development organization (DRDO), L&T`s dedicated submarine design centre carried out detailed engineering, using the latest 3D modeling and product data management software.

In addition to being the country`s first nuclear-powered indigenous submarine, this is also the largest and heaviest vessel ever built in India.

L&T has had the privilege of making the single largest contribution in the construction of this vessel - right from the stage of plate cutting to launch.

A.M. Naik, chairman & managing director (CMD) of L&T said, ``We feel very proud to have contributed significantly to realizing India`s dream of an indigenous nuclear submarine. Over the last four decades, L&T has played a crucial pioneering role in building India`s strategic sectors by successfully executing several technology-intensive and challenging projects. Building the first nuclear submarine is the latest milestone in our association with the Indian navy & the DRDO, and we look forward to building more submarines and warships.``

Source : MyIRIS

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Titan Industries Q1 results

The Company has posted a net profit of Rs 460.40 million for the quarter ended June 30, 2009 as compared to Rs 326.70 million for the quarter ended June 30, 2008. Total Income has increased from Rs 8112.90 million for the quarter ended June 30, 2008 to Rs 8838.00 million for the quarter ended June 30, 2008.


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Tata Motors Q1 results

Tata Motors has posted a net profit of Rs 5137.60 million for the quarter ended June 30, 2009 as compared to Rs 3261.10 million for the quarter ended June 30, 2008.
Total Income has decreased from Rs 72440.50 million for the quarter ended June 30, 2008 to Rs 67239.90 million for the quarter ended June 30, 2009.

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Punj Lloyd Q1 results

Punj Lloyd has posted a net profit after minority interest and share of Profits/(loss) of Associates of Rs 1271.60 million for the quarter ended June 30, 2009 as compared to Rs 1118.50 million for the quarter ended June 30, 2008. Total Income has increased from Rs 26581.60 million for the quarter ended June 30, 2008 to Rs 29790.40 million for the quarter ended June 30, 2009.


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Glenmark Pharmaceuticals Q1 results

Glenmark Pharmaceuticals has posted a net profit after tax of Rs 534.546 million for the quarter ended June 30, 2009 as compared to Rs 1153.768 million for the quarter ended June 30, 2008. Total Income has increased from Rs 4717.417 million for the quarter ended June 30, 2008 to Rs 5512.800 million for the quarter ended June 30, 2009.

Glenmark Pharmaceuticals Looks strong from Short term point of view.

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NTPC Q1 results

The Company has posted a net profit after tax of Rs 21936.20 million for the quarter ended June 30, 2009 as compared to Rs 17265.30 million for the quarter ended June 30, 2008. Total Income has increased from Rs 102567.00 million for the quarter ended June 30, 2008 to Rs 127789.60 million for the quarter ended June 30, 2009.


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EIH Q1 results

The Company has posted a profit after tax of Rs 190.50 million for the quarter ended June 30, 2009 as compared to Rs 380.10 million for the quarter ended June 30, 2008.
Total Income has decreased from Rs 2557.80 million for the quarter ended June 30, 2008 to Rs 2190.70 million for the quarter ended June 30, 2009.

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Areva T&D Q2 results

Areva T&D has posted a net profit after tax of Rs 501.20 million for the quarter ended June 30, 2009 as compared to Rs 646.60 million for the quarter ended June 30, 2008.
Total Income has increased from Rs 6236.20 million for the quarter ended June 30, 2008 to Rs 7882.50 million for the quarter ended June 30, 2009.

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Ashok Leyland Q1 results

The Company has posted a net profit of Rs 77.721 million for the quarter ended June 30, 2009 as compared to Rs 505.694 million for the quarter ended June 30, 2008.Total Income has decreased from Rs 18953.969 million for the quarter ended June 30, 2008 to Rs 9730.756 million for the quarter ended June 30, 2009.


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KSK Energy Q1 results

KSK Energy has posted a net profit of Rs 479.04 million for the quarter ended June 30, 2009 as compared to Rs 387.88 million for the quarter ended June 30, 2008. Total Income has increased from Rs 1181.28 million for the quarter ended June 30, 2008 to Rs 1461.91 million for the quarter ended June 30, 2009.

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Intraday Tips and Market outlook for July 27th

>> Monday, July 27, 2009

US markets ended mixed.
Asia has opened higher.
We can see a flat to gap down opening today.

The support for the Sensex is 15100 and the resistance to the up move is at 15600-16046
Nifty: (4569) the support for the Nifty is at 4500 and the resistance to the up move is at 4615-4700-4789

Day Trading Ideas :

RNRL : Buy above 81.25 for targets of 82.45 and 83.20. SL of 80.10

RPL : Buy above 128 for targets of 129.95 and 130.50. SL of 126

IFCI : Buy above 50 for targets of 51 and 52.10. SL of 48.95

BHEL : Buy above 2014 for targets of 2025 and 2040. SL of 2009

Happy Investing !

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Weekly news letter, Stock Tips and Forecast.

>> Sunday, July 26, 2009

Last week Indian Markets witnessed good gains because of :
Good global cues.
Good domestic sentiments.
Good Q1 results.

The market sentiments have totally changed.
Monday one can expect the markets to be in Red.
Adani Power IPO open tomorrow. (Price band 90-100)

Sectors I am bullish on :
FMCG , Capital Goods and Infra.

Stocks to watch out for :

Praj Ind : Buy above 88.10 for targets of 91 and 94. SL of 86.

LNT : Buy above 1505 for targets of 1520 and 1535. SL of 1480

MNM : Buy above 830 for target of 865. SL of 810

Aurobindo Pharma: Buy above 525 for targets of 580. SL of 510


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NIFTY Weekly Technical Analysis.

Last week we saw NIFTY Zooming up !
Companies are declaring good results.

Last week we saw NIFTY in bullish mode.
NIFTY gained over 10 % in a week
FII's participation was moderate.
NIFTY TRIN at 0.372
NIFTY Range - Between 4410 and 4750

Current Spot - 4568
Support - 4450 and 4390
Resistance - 4695 and 4785
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Chart :


Check NIFTY Autogenerated Technicals.

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Adani Power — IPO: Invest at cut-off

Investors with a long-term horizon can consider subscribing to the initial public offering of Adani Power (APL), the power generation arm of Adani Enterprises that is engaged in power project development and operations.

Given that the company’s operations are at a nascent stage and the offer is not cheap, investors should not expect listing gains on this offer.

At the price band of Rs 90-100 for this book-built offer, the company is expected to raise around Rs 2,700-3,000 crore. Of this, Rs 2,200 crore would be used to fund the equity portion of two power generation plants — Mundra Phase 4 and Thiroda of 1980 MW each. Balance funds will be deployed for Dahej (in Gujarat) and Kawai (in Maharashtra) power units, totalling 3,300 MW; these are in the nascent stages.

Though Adani’s projects lack operational history, the growth opportunities in the power sector are bright due to the huge demand-supply imbalance. Adani Power also enjoys reasonable earnings visibility owing to Power Purchase Agreements (PPA) signed for most of its Mundra and Thiroda projects and assured fuel linkages owing to the parent’s vertical integration.

Its unique advantages lie in dedicated transmission lines to evacuate power, the opportunity for higher realisations from merchant power agreements and tax benefits due to its SEZ status. However, before investing, investors have to bear in mind the risks to fuel supplies from the proposed new mining policy in Indonesia and operational issues cited by users of Chinese power equipment.
Valuations

At the offer price, the company’s business appears fairly valued. As the company has limited operational history, we have evaluated the offer based on market capitalisation per MW and price-to-book value, post offer.

At the lower end of the price band, Adani Power is valued at a P/BV of 3.4 times, a slight premium to its industry peers (average of 2.9 times).

However, at Rs 90, the market cap per MW (Rs 3 crore/ MW) is in line with the industry peers (in case of market cap/MW valuation, only projects that have attained financial closure are considered).

That suggests that at the lower end of the price band, the offer is fairly valued vis-a-vis its peers. However, as we expect higher earnings growth and ROEs in the initial years, Adani Power may be able to command premium valuations.
Business

The company plans to add 9,900 MW of generating capacity by 2013 with an ambitious 20,000 MW targeted by 2020. Most of the capacity is expected to come up in the Western region, which now has a energy deficit of 16 per cent and peak deficit of 19 per cent.

These projects are also strategically located for easy transportation of coal and water. The Mundra (Gujarat) and Thiroda (Maharashtra) projects, totalling 6,600 MW, have attained financial closure and are in various stages of execution. The remaining 3,300 MW is in the planning stages with projects at Dahej and Kawai.

Adani Power plans to invest Rs 28,369 crore to set up the entire 6,600 MW of capacity; the remaining equity portion being funded by infusion from the promoter.

While Mundra Phase I and II are expected to be fully commissioned by February 2010, Mundra Phase III and Phase IV are expected be set up by July 2011 and April 2012. The Thiroda project is expected to be commissioned by April 2012.

The company recently started commercial operations for the Mundra Unit-1 (330 MW) and reported accumulated losses of Rs 9.7 crore for the year-ended March 2009.

Given that the company has the opportunity to sell merchant power till February 2010 (when the PPA comes to effect), the company may turn cash flow positive by this year.

Dedicated transmission lines to evacuate power allow the advantage of open access. This may result in lower costs compared to other merchant and captive power plants that have to depend on state grid. The distance transmission lines covering a total of 1,596 km can be used to wheel merchant power to various purchasers.
Opportunities

At a time when execution delays owing to equipment and funding delays and fuel shortages have affected the capacity addition targets of various peers, Adani Power has established much of it as backward linkages.

It has tied up fuel linkages for the next 15 years and has also tied up PPAs with the Gujarat, Maharashtra, and Haryana electricity boards for the next 25 years.

Revenues, attributable to 72 per cent of the 6,600 MW capacity, which is expected by April 2012, have been secured through PPAs.

Adani has the flexibility to enter into merchant power agreements and short-term PPAs with companies and state utilities for the remaining 28 per cent, which may allow higher realisations and easier pass through of costs.

Recent reports, in fact, suggest that the merchant tariffs have risen to more than Rs 7 per unit in the peak season and Rs 4.5- 5 per unit for the rest of the year in the Western region due to a wider peak deficit. However, the realisations from merchant power sales may fall as State utilities manage to increase the generation capacity and reduce the cross subsidies.

According to the management, the company’s agreements to procure coal at a competitive cost of $36 per tonne will reduce the cost of power generation. The company estimates the cost of generating at Rs 1.5-1.7 per unit while the PPA realisations are expected at Rs 2.62-2.94 per unit and merchant power realisations at Rs 4.5 per unit. This could lead to higher ROEs for the projects in the initial years.

Though location in a SEZ and section 80IA status allows tax benefits, these benefits are pass-through and will allow Adani Power to quote lower tariffs going forward.

As 80 per cent of the capacity to be added will run on super-critical technology it may get carbon credit benefits as the technology is more efficient (burns less fuel).
Risks

The company has decided to rely mainly on Chinese equipment for setting up the power plants, taking the view that the waiting periods involved in sourcing indigenous equipment tend to escalate costs. There have been instances in India of power generation players facing intermittent problems with Chinese equipment.

One such instance is collapse of turbine blades in the Sagardighi thermal station in West Bengal, which caused a shutdown for over 80 days.

While these will usually be compensated by the contractor, they may create unscheduled shutdowns.

Policy changes pertaining to Indonesian mining rights poses a risk to uninterrupted fuel supply for the Mundra plant. However, this may be partly compensated by provisional supply from domestic sources which was approved for Mundra IV and Thiroda projects.

The ongoing intellectual property rights litigation between Alstom and supercritical boiler supplier- Shanghai Electricals, also bears watching as the verdict may have implications for equipment supplies to the Thiroda project.


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Stock Idea : Tantia Constructions (BUY)

Tantia Constructions (Rs 87.90): Buy
Investors with medium-term perspective can consider buying Tantia Constructions. The stock found significant support around Rs 30 in March 2009 and commenced an uptrend. Though it encountered a major resistance at Rs 70 in early June, it was able to conclusively break out of this resistance in mid July.

The momentum indicators in the weekly chart are bullish.

We believe that Tantia Constructions has the potential to trend upward to Rs 128 in the medium-term. Investors can accumulate the stock in dips with stop-loss at Rs 70. Short-term traders can enter with a target of Rs 97 and tight stop at Rs 83.5.


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Stock idea : Ultratech Cement (BUY)

The stock of UltraTech Cement is a good investment option for investors with a one/two-year perspective. A focus on the promising Western region, a first-mover advantage in capacity additions and substantial captive power capacities make UltraTech a preferred exposure within the cement sector.

At its current market price of Rs 775, the stock trades at nine times its estimated 2009-10 earnings, at a discount to peers such as ACC and Ambuja Cement (12-13 times their estimated FY10 earnings).

UltraTech’s sales and profits have grown at a compounded annual rate of 25 per cent and 44 per cent respectively in the last four years. The company has benefited from the Western region’s strong demand for cement, reporting an 18 per cent surge in domestic volumes and 91 per cent jump in export volumes in the June quarter. UltraTech also has a smaller presence in Southern and Central markets.

The Rs 3.5-lakh-crore of industrial investments slated for Gujarat and the revival of cement exports from the region point to good demand prospects in the region. Though surplus capacity is a key concern for cement companies over the medium term, UltraTech is less vulnerable to this risk as only 9 per cent of the new capacities for this year are coming up in the West. Cement prices in the region have climbed from Rs 245/bag in January to Rs 260/bag in June.

One of UltraTech’s key advantages is that much of its capacity expansion has already been commissioned. With the recent 1.2-million-tonne expansion in the South, its capacity stands at 23.1 million tonne. UltraTech’s thermal power capacity meets almost 80 per cent of its power requirements. While these factors insulate the company from power shortages and a spike in power costs, further proposals to set up waste heat recovery systems which can save costs, are also on the anvil.

The company managed to keep a tight rein on its costs in the June quarter, with power-fuel costs registering a 1 per cent decline over last year; operating margins expanded 7 percentage points to 39 per cent. The company’s profits after tax during the same period rose 58 per cent. With realisations expected to remain firm even as regional demand drivers are strong, the earnings outlook remains positive for the next 12 months.

Source : Hindu Business Line

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Asian Paints Q1 results

The Group has posted a net profit attributable to shareholders of Rs 1760.80 million for the quarter ended June 30, 2009 as compared to Rs 1062.10 million for the quarter ended June 30, 2008. Total Income has increased from Rs 12523.50 million for the quarter ended June 30, 2008 to Rs 14758.40 million for the quarter ended June 30, 2009.


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Godrej Consumer Q1 results

Godrej Consumer Products Ltd has announced the following Unaudited results for the quarter ended June 30, 2009:

The Company has posted a net profit of Rs 602.90 million for the quarter ended June 30, 2009 as compared to Rs 342.80 million for the quarter ended June 30, 2008. Total Income has increased from Rs 2871.40 million for the quarter ended June 30, 2008 to Rs 3503.30 million for the quarter ended June 30, 2009.

The Consolidated Results are as follows

The Group has posted a net profit of Rs 696.80 million for the quarter ended June 30, 2009 as compared to Rs 391.00 million for the quarter ended June 30, 2008. Total Income has increased from Rs 3708.90 million for the quarter ended June 30, 2008 to Rs 4489.90 million for the quarter ended June 30, 2009.


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Andhra Bank Q1 results

Andhra Bank has announced the following Unaudited results for the quarter ended June 30, 2009:

The Bank has posted a net profit of Rs 2562.210 million for the quarter ended June 30, 2009 as compared to Rs 776.202 million for the quarter ended June 30, 2008. Total Income has increased from Rs 12661.167 million for the quarter ended June 30, 2008 to Rs 17427.012 million for the quarter ended June 30, 2009.


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Solvay Pharma declares Interim Dividend

Solvay Pharma India Ltd has informed BSE that the Board of Directors of the Company at their meeting held on July 24, 2009, have declared an Interim Dividend of Rs 12.50 (125%) per equity share of Rs 10/- for the year 2009 (Previous year Dividend - Rs 17.50/- Per share (175%) for the year 2008).


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Tata Communications Q1 results

Tata Communications Ltd has announced the following Unaudited results for the quarter ended June 30, 2009:

The Company has posted a net profit of Rs 319.40 million for the quarter ended June 30, 2009 as compared to Rs 984.70 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 9284.60 million for the quarter ended June 30, 2008 to Rs 8502.40 million for the quarter ended June 30, 2009.

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Jaiprakash Associates Q1 results

Jaiprakash Associates Ltd has announced the following Un-audited results for the quarter ended June 30, 2009:

The Company has posted a Net profit of Rs 4911.80 million for the quarter ended June 30, 2009 as compared to Rs 1252.10 million for the quarter ended June 30, 2008. Total Income has increased from Rs 11946.80 million for the quarter ended June 30, 2008 to Rs 21168.60 million for the quarter ended June 30, 2009.

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Ispat Industries Q1 results

Ispat Industries Ltd has announced the following Un-audited results for the quarter ended June 30, 2009:

The Company has posted a Net loss of Rs (2149.20) million for the quarter ended June 30, 2009 as compared to Net profit of Rs 287.30 million for the quarter ended June 30, 2008. Total Income has decreased from Rs 28757.80 million for the quarter ended June 30, 2008 to Rs 14018.50 million for the quarter ended June 30, 2009.


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Gail India announces Q1 results

Gail India Ltd has announced the following Un-Audited results for the quarter ended June 30, 2009:

The Company has posted a net profit for the period of Rs 6558.40 million for the quarter ended June 30, 2009 as compared to Rs 8968.70 million for the quarter ended June 30, 2008. Total Income has increased from Rs 58454.80 million for the quarter ended June 30, 2008 to Rs 61012.60 million for the quarter ended June 30, 2009.


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ICICI Bank posts 68% rise in net

Helped by strong treasury operations, ICICI Bank, the country’s second largest lender, today reported a 68 per cent rise in consolidated net profit to Rs 1,036 crore during the quarter-ended June, 2009, as against Rs 617 crore in the corresponding period last year.

The increase was despite a 0.2 per cent decline in consolidated income to Rs 14,615 crore, which was attributed to market-linked businesses such as insurance.

On a standalone basis, beating analyst estimates, the bank reported 20.63 per cent rise in net profit to Rs 878.22 crore.

Total income fell 2 per cent to Rs 9,223 crore and net interest income was down 5 per cent to Rs 1,985 crore during the quarter ended June 30.

The bank attributed the decrease in net interest income to the 11.6 per cent fall in advances. Though treasury income of Rs 714 crore during April-June this year, as against a Rs 594-crore loss in the corresponding period last year, helped the bank, an all-round reduction in cost also boost its bottom-line in the first quarter of 2009-10.

What also helped was a write back of some of the mark-to-market losses that the bank had taken on its books last year.

With the bank going slow on fresh lending, advances at the end of June 2009 were estimated at Rs 1,98,101.87 crore, as against Rs 2,24,145.92 crore a year ago. Similarly, assets fell 6.78 per cent to Rs 3,67,418.92 crore.

ICICI Bank, which has grown 25 to 30 per cent in the past, has had to slow down fresh lending, especially in the unsecured retail segment, and the level of advances and assets is now at the level seen at the end of June 2007.

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Hold Maruti Suzuki, target Rs 1475: Nirmal Bang

Nirmal Bang has recommended a hold rating on Maruti Suzuki, with price target of Rs 1475 in its report.

" We believe that though the company being a leader in this segment & having more than 50% of market share, the competition is increasing in the A2 & A3 segments which are the major revenue earners for the company. We believe the company will record a volume growth of around 13% for FY10. But higher price realisation due to better product mix will help the company to improve its profit margins. We recommend a 'HOLD' on the stock with a price target of Rs 1475 per share," says Nirmal Bang's report.
Source : Money Control.



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Market outlook and Intraday Tips for July 24th.

>> Friday, July 24, 2009

US markets ended higher.
Europe also ended in green.
Asia has opened positive.
Expect the Indian Markets to open positive with a gap up opening.

The support for the Sensex is 15000 and the resistance to the up move is at 15600-16046
Nifty: (4524) the support for the Nifty is at 4400 and the resistance to the up move is at 4615-4700-4789

Day Trading Ideas :

Aban Offshore : Buy above 671 for targets of 376 and 384. SL of 665

RNRL : Buy above 80.65 for targets of 81.25 and 82.50

MNM : Buy above 804 for targets of 812 and 817. SL of 799

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Maruti's Q1 net profit up 25%

Maruti Suzuki, the country’s largest car manufacturer, posted a net profit of Rs 583.5 crore for the first quarter of the financial year 2009–10. This is a rise of 25.4 per cent against the Rs 465.9 crore earned for the same quarter last year.

Total sales for the period between April and June this year rose by 34 per cent, to Rs 6,340 crore.


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Apollo Tyres Results – Announced for Qtr Ending June 2009

Apollo Tyres net profit rose 94.67 Percent to Rs 94.67 crore in Qtr ending june 2009 for the financial year 2008-2009 compared to Rs 48.63 crore in qtr ending june 2008. Sales rose 9.69 Percent to Rs 1180.14 crore in Qtr ending june 2009 for the financial year 2008-2009 compared to Rs 1075.86 crore in qtr ending june 2008.


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US markets rallied. Ends Higher

US markets ended higher :
Dow ended 188 points up.
Nasdaq ended 47.22 points up.

After Jan Dow is seen above 9000 mark.
Some blue chip companies declared their results yesterday in US.


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Buy Aurobindo Pharma for target of Rs 545: India Infoline

Buy Aurobindo Pharma for target of Rs 545: India Infoline
India Infoline has advised traders to buy Aurobindo Pharma for target of
Rs 545.
“On the daily chart, Aurobindo Pharma has given a bullish breakout and in the process has also made an intermediate top, suggesting that its short-term trend has also turned up. Over the last four weeks, the stock was consolidating in the range of Rs 425-506, before finally breaking out on Wednesday. The upmove was well supported by healthy volumes, which suggest accumulation. Other technical oscillators are also positive. We recommend traders to buy the stock between the range of Rs 515-523 for target of Rs 545. It is advisable to maintain a stop loss of Rs 507,” said the technical note.


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Buy Welspun Gujarat for target of Rs 215: India Infoline

Buy Welspun Gujarat for target of Rs 215: India Infoline
India Infoline has advised traders to buy Welspun Gujarat for target of
Rs 215.“On Wednesday, Welspun Gujarat bounced sharply from a low of Rs 193 on decent volumes. It faces a serious resistance at Rs 214-215 levels and should have a minimum upside till that level. If it breaks above the levels of Rs 215, it could rise till Rs 230 in the short term. Maintain a stop loss of Rs 192 and go long. However, traders need to be prepared to face extreme volatility in the stock. We expect the stock to advance after it gave a close above its downward sloping trendline,” said the technical note.


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Buy HDIL for target of Rs 250: Religare

Buy HDIL for target of Rs 250: Religare
Religare Securities has advised traders to buy HDIL for target of Rs
250.“Buy HDIL at Rs 235 with stoploss of Rs 230 for target of Rs 250,” the report said.
Source : Economic Times

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Intraday Tips and Market outlook for 23rd July.

>> Thursday, July 23, 2009

US markets ended mixed.
Europe ended in green.
Asia has opened flat. Expect the Indian Markets to open flat to positive.

The support for the Sensex is 14548-14295 and the resistance to the up move is at 15130
Nifty: (4399) the support for the Nifty is at 4314-4238 and the resistance to the up move is at 4436-4615-4700-4789

Day Trading Ideas :

RPower : Buy above 162.10 for targets of 165 and 167. SL of 159.95

Adlabs : Buy above 429 for targets of 433 and 436. SL of 426

GMR Infra : Buy above 139 for targets of 141.25 and 143.10

Happy Investing !

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Intraday Tips and market outlook for July 22nd.

>> Wednesday, July 22, 2009

US markets ended in green after a volatile session.
Europe ended in green too.
Asia has opened mixed / flat.
Expect the Indian Markets to open flat to negative.
The support for the Sensex is 15000 and the resistance to the up move is at 15300-15600-16046
Nifty: (4469) the support for the Nifty is at 4400 and the resistance to the up move is at 4615-4700-4789

Day Trading Ideas :

KSK Energy : Buy above 192 for targets of 194 and 197.10. SL of 189

Adlabs : Buy above 345 for targets of 351 and 355. SL of 341

RNRL : Buy above 80 for targets of 81.90 and 82.95. SL of 79.10

Happy Investing !

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Intraday Tips and market outlook for 21st July

>> Tuesday, July 21, 2009

US markets ended higher.
Europe also ended higher.
Asia has opened Higher following the global rally.
Expect the Indian markets to open positive.

The support for the Sensex is 15000 and the resistance to the up move is at 15300-15600-16046
Nifty: (4502) the support for the Nifty is at 4400 and the resistance to the up move is at 4615-4700-4789

Day Trading Ideas :

TCS : Buy above 510 for targets of 518 and 526. SL of 502

Bank of Baroda : Buy above 438 for targets of 445 and 458. SL of 430

MNM : Buy above 802 for targets of 814 and 821. SL of 793

Cairn India : Buy above 249 for targets of 255 and 259. SL of 244

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Excel Infoways IPO gets fully subscribed on final day

>> Monday, July 20, 2009

The Initial Public Offer (IPO) of the business process outsourcing (BPO) firm Excel Infoways Ltd got fully subscribed on the final day of offer today, with most of the bids coming in from non-institutional investors.

The IPO of Excel Infoways received bids for over 68.66 lakh equity shares representing 1.21 times the shares offer, according to the data available with the National Stock Exchange (NSE).

Excel had come out with an IPO of 56.67 lakh shares. The price band for the issue has been fixed between Rs 80-Rs 85. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

Calculated on the basis of upper price band, the company aims to raise funds up to Rs 48.16 crore. Excel is expanding operations with two new facilities in Mumbai with an aggregate seating capacity of 300 seats.

The cost for these projects is estimated to be Rs 47.28 crore (to be funded by Rs 27 crore of IPO proceeds and balance through cash generation from operations).

Excel is also planning to utilize Rs 30 crore of the issue proceeds for strategic investments and overseas acquisitions for which the targets are yet to be identified.

The issue, which opened on July 14 got a positive response from non-institutional investors, which includes corporate and individuals (other than retail institutional investors), as they fully subscribed to the shares reserved for them.

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Intraday Tips and market outlook for 20th July

US markets ended higher.
Europe had ended higher too.
Asia has opened a positive note.
Expect the Indian Markets to open positive.

The support for the Sensex is 14340 and the resistance to the up move is at 15300
Nifty: (4375) the support for the Nifty is at 4265 and the resistance to the up move is at 4615

Day Trading Ideas :

Adlabs : Buy above 338 for targets of 341 and 345. SL of 334

RIL : Buy above 1930 for targets of 1945 and 1954

LNT : Buy above 1420 for targets of 1438 and 1455

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Weekly news letter and Stocks to look out for.

>> Sunday, July 19, 2009

Technically NIFTY looks strong. For advance NIFTY Technicals Check out NIFTY Auto generated technicals.

Markets last week performed extremely well.
Auto Index gained the maximum

Stocks to look out for this week are RNRL, RIL, HDIL, DLF, MNM.

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Few Volatile Stocks good for Short Term

>> Saturday, July 18, 2009

The Vulture Play
These stocks have fallen like there’s no bottom. But the levels at which they are trading offer huge opportunities.

Strategy: Buy on rumours and sell on news.

Suzlon: Debt is high and so are the receivables. But Tulsi Tanti is willing to dilute his stake and meet commitments. If US President Barack Obama backs energy generation from green sources, Suzlon’s 5 MW wind turbines will be hot. The stock has gained nearly 300 percent since the time it fell to Rs. 35.

Ranbaxy: The last 12 months have been bad. Sales are down, research hasn’t paid off and US FDA is after it for manufacturing lapses. But the new Japanese owner Daiichi Sankyo has had great successes in research and working with the FDA. Expect them to put Ranbaxy back on an even keel.

NIIT: As IT crashed so did the IT trainer. Its stock fell 85 percent to Rs. 14. But it is moving beyond IT and is training professionals for banking jobs. The amount spent on education doubled in the last five years and NIIT grew twice as fast, quadrupling its top line. The stock has recovered to half its 52-week high.

Wockhardt: Its core business is in fine fettle. Its problems are foreign loan repayments and derivative losses. Banks are taking over the company operations and Habil Khorakiwala has put some businesses on the block to pay off debtors. Wockhardt’s strong cash flow should return it to good health in two years.

Hindalco: The acquisition of Novelis tripled Hindalco’s sales but caused an 11 percent decline in net profits. But aluminum prices are rising and credit is beginning to flow. Hindalco’s nine-month profits look nice. It now has the space to fix Novelis. Tricky but not impossible.

Risk: This one’s clearly a high risk strategy. There could be serious heart ache before the gains come.


Source : Forbes India.

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Some good sctock Picks from : Banking, Insurance, Retail and Airlines Sector.

The Liberalisation Play
Government moves out, lets in private capital, it works more efficiently and delivers great returns. That’s liberalisation. The new government has the mandate to open up sectors like banking, insurance, retail and airlines to private investors. When it does, be there.

Strategy: Simply select the best performers in these sectors.

Crisil: The 800-pound gorilla of rating agencies, it rates 1,000 firms today. If the financial sector is liberalised, that number could go up to 10,000. Crisil has retained earnings of 75 percent with an ROCE of 42 percent. It is the fourth largest credit rating agency in the world.

ICRA: There is room for both Crisil and ICRA in the space. At Rs. 788, the company is getting close to its 52-week high of Rs. 900. But the number doesn’t capture the potential arising from RBI’s new rule that all debt products be rated.
HDFC Bank: A cautious and solid bank, it is safe because its government bond holdings are 3 percent over the statutory liquidity ratio (SLR) requirement.Fiscal liberalisation will benefit this bank because it is in a position to scale up quickly. At Rs. 1,569, the price looks steep based on 2009-10 P/E multiple of 4. This is very much the stock for those who like conservative growth.

Kingfisher Airlines: The company has a debt-equity ratio of 3:1. And it makes losses. If foreign capital is allowed, you can be sure of one thing: Vijay Mallya will make sure Kingfisher gets it. That will make life a lot easier for the airline.

Oracle Financial: It suffered when oreign banks went broke. But its earnings jumped 77 percent and revenues rose 23 percent in 2008-09. As its clients come off the ventilator, they will need to be rewired. Oracle Financial will be waiting.

Risk: The ambiguity of regulatory changes, however, gives them some additional risk. Given that US banks have behaved so badly, it is going to be hard for government to liberalise the financial sector.


Source : Forbes India.

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Five good Infrastructure stocks

The Infrastructure Play
India needs new roads, ports, airports, railway lines and huge amounts of power. Apart from steel and cement, there are several ancillary plays as well. For instance, warehouse network will be needed along the roads and near ports. As more small towns get connected to big cities through roads, vehicle sales will benefit.

Strategy: Not good for paying school fees; great for college education kitty.

Blue Star: Two decades to reach Rs. 1,000 crore in sales; two years to reach Rs. 2,000 crore in 2008. Non-core businesses are gone and 90 percent of revenues come from refrigeration and cooling products. It’s almost debt-free with an ROCE of over 50 percent. Growing demand for cold storage, outsourcing outfits and other commercial offices in Tier II cities put the estimated non-residential demand for air conditioning at Rs. 38,000 crore.

BHEL: For 2009-10, the company is increasing its capacity from 10 GW to 15 GW. Capacity additions are ahead of schedule. The slowdown in the global economy has brought down input costs significantly. The company has also taken control of its salary costs that were eroding its profit margins. BHEL will be among the top beneficiaries as India begins to add 20,000 MW of generation capacity each year for the next five years.
Power Finance Corporation: At about 25 percent, the company’s net profit margin is close to what the best software companies earn at half their price-to-earnings ratio. This public sector company also enjoys the preferred lender status for all the mega power projects in the country. Its employee expenses are just 1 percent of sales.


Mahindra & Mahindra: Rural India is earning well because of infrastructure boom. M&M’s SUVs are selling briskly and its market share in the SUV space has gone from 51 percent to 57 percent in the last two years. A week after Xylo was launched, M&M received 9,000 bookings, or one-fifth of its annual SUV sales. The stock may be fully priced now but the upshot comes from prosperity in the hinterland that better infrastructure will bring.


Allcargo Global Logistics: This stock was one of the earliest to recover after it fell
dramatically in October. It has already recovered all the lost ground as the company managed to keep its net profits margin above 15 percent. The stock is available at a P/E of 17 on trailing earnings, just as expensive as the broad market. Allcargo, a complete logistics provider, is positioned well to exploit the projected 17 percent in port traffic and the increasing trend of outsourcing of logistics by manufacturing companies.

Risk: Long payback periods are par for the course in infrastructure. As a result, earnings
in the near term could be depressed, often in proportion to the borrowed funds. If costs of funds go up, returns could diminish. In some cases, regulatory glitches can also slow down the process as is the case with mega power plants coming up in Uttar Pradesh.


Source : Forbes India

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5 good stocks in the Consumer Durables (FMCG)

The Consumer Play
Between 2000 and 2005, nearly a third of the incremental expenditure came from the middle class. Their non-food expenditure rose height: 119px;" src="http://business.in.com/media/images/2009/Ju70 percent, while expenditure on education doubled. In these years, as per capita income rose 80 percent, Indians also increased their expenses by nearly the same degree. The same theme will play out in the coming years. The five broad areas to look for companies are: food, essential non-food, education, healthcare (lifestyle) and discretionary expenditure that will include consumer durables and automobiles.

Strategy: Buy it, stash it and have a good night’s sleep.

Page Industries: A small company that makes a small product with big margins: male underwear. This Rs. 200-crore company makes the Jockey brand and has a net margin of 12 percent and ROCE of 36 percent. The company has effectively positioned its brand in a largely unbranded and unorganised Rs. 900 crore innerwear market. The company is worth a little over $100 million — cheap to even buy as an ongoing business for global competitors.


Pidilite Industries: Pidilite has brands like Fevicol, M-Seal, car polish Motomax and other assorted consumer art materials and specialised home paints. The three brands are also clear market leaders in their category. The company is available at a market capitalisation of 1.6 times its sales. With a sales growth rate of more than 22 percent for the last five years, there is a lot of steam left as its brands touch fast-growing areas like education, home d├ęcor and automobiles.

Dabur: This company has focus. Five years ago, Dabur got out of the pharmaceutical business and put all its effort, like the best brand companies, behind five of its brands. Since then, its ROCE has consistently remained above 50 percent. It touched 80 percent in 2008. Dabur strategy of focussing on health foods like fruit juices sold under its Real brand is starting to pay dividends.

Procter and Gamble Hygiene: Over the last three years, the money that P&G invested did not translate into market cap gains. The worm has now turned. Its feminine hygiene line, Whisper, grew at 21 percent and is also the category leader in value terms. Its ROCE, which started dipping since 2006, has again picked up indicating that its new investments are now paying dividends. The stock is trading at its three years highs but is still priced 20 percent below its peers.

Marico: Till 2008-09 came by, the company’s sales and profits had grown for 30 consecutive quarters, indicating a stable track record. Over the last five years, the company averaged a 20 percent growth in sales and profits. It recently launched its Saffola range of food products, which is expected to give the company its next round of growth. The stock looks fully priced but its international business and Kaya Skin Clinics have started to deliver returns. Analysts expect these businesses to expand rapidly in the coming years.

Risk: People love this sector when the chips are down. But when bulls are roaming the streets, returns from this sector fall. These stocks have higher valuations than the general market, making them look expensive.


Sourec : Forbes India

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Intraday Tips and Market outlook for 17th July

>> Friday, July 17, 2009

US markets ended higher.
Europe ended in green.
Asia has opened positive.
Expect the Indian Markets to open flat to positive.

The support for the Sensex is 14170 and the resistance to the up move is at 14381-14548
Nifty: (4231) the support for the Nifty is at 4200 and the resistance to the up move is at 4255-4315

Day Trading Ideas :

REC : Buy above 175.25 for targets of 177.40 and 179.95. SL of 173.10

NTPC : Buy above 206 for targets of 207 and 209. SL of 204.50

Adlabs : Buy above 335 for taregts of 342 and 350. SL of 329

HDIL : Buy above 221 for targets of 225 and 229. SL of 218

Happy Investing !

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Market outlook and Intraday Tips for 16th July

>> Thursday, July 16, 2009

US markets ended higher.
Europe ended higher too.
Asia is ought to open positive.
Expect the Indian Markets to open positive. With a Gap up opening of 200 to 250 points.
The support for the Sensex is 14150 and the resistance to the up move is at 14381-14548
Nifty: (4234) the support for the Nifty is at 4200 and the resistance to the up move is at 4255-4315


Day trading Ideas :

RNRL : Buy above 79.90 for targets of 81.45 and 83.20. SL of 77.90

Rajesh Export : Buy above 38.10 for targets of 39.45. SL of 36.85

LNT : Buy above 1450 for targets of 1471 and 1484. Sl of 1435

Hindalco : Buy above 80.25 for targets of 81.85 and 82.90. SL of 78.10

Sterlite Ind. : Buy above 632 for targets of 640 and 649.50. SL of 626

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World's richest economies to grow this year

The world's richest economies will grow again before year-end as the choke-hold of the worst recession in generations gradually eases,but Reuters polls of economists show widespread doubt about the recovery's strength.

Surveys of more than 150 analysts across the Group of Seven industrialized nations showed upgrades to near-term growth forecasts for most countries, although expectations for 2010 remain sluggish and barely changed over the past month.

The Reuters poll results will certainly provide comfort to those who have made aggressive bets on an economic recovery beginning this year. But forecasts for a sharp rebound, or what is often called a V-shaped recovery, are few and far between.

"Signs from consumers suggest a key component of economic recovery is not prepared to carry its weight," noted Robert DiClemente, chief U.S. economist at Citi in New York.

"Financial market participants and policymakers will need to pay close attention to the path of consumer spending as this slower pace of inventory unwinding boosts GDP."

So far it appears gross domestic product in developed economies has had a boost from a searing pace of inventory depletion running its course, leaving companies with no choice but to ramp up production in order to meet even feeble demand.

Yet prospects for the G7 remain dim compared with most Asian economies, which are set for a sharp rebound in 2010, according to the latest Reuters poll of more than 100 economists across the region, also published Wednesday.

Global economic growth is set to mark a 1.5 percent decline this year, based on forecasts gathered from across the G7, followed by a fairly strong pickup to 2.5 percent in 2010 driven by emerging economies.

The range of GDP forecasts provided for G7 economies was wide, although there has been some narrowing, coinciding with a powerful stock market rally this year that has major indexes up 30 percent since March, some more than half.

Source : Economic Times

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Buy and hold IDBI for target of Rs 101-107: Nirmal Bang

Nirmal Bang has advised traders to buy and hold IDBI for target of Rs 101-107.


“Buy IDBI on dips & hold. The stock has strong support in the region of Rs 92-88-83 and resistance at Rs 96. If it maintains above Rs 96 then look for a short term target of Rs 101-107,” said the technical note.

Source : Economic Times

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Buy and hold Hindalco for target of Rs 83-88: Nirmal Bang

Nirmal Bang has advised traders to buy and hold Hindalco for target of
Rs 83-88.


“Buy and hold Hindalco as the scrip has corrected almost 36% from the top of Rs 106 to the low of Rs 68. Support exit in the region of Rs 71-68 and resistance at Rs 75. If maintains above Rs 75 then look for a target of Rs 83-88 shortly,” the note said.

Source : Economic Times

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Buy Reliance Communications with target of Rs 267-280: Finquest

Finquest Securities has advised traders to buy Reliance Communications with target of Rs 267-280.


“Reliance Communications has formed a variant of Bullish Morning Star at the lower band of its falling channel. Prices thus seem likely to witness a relief rally towards Rs 267-280. Buy the stock on dips to Rs 245 for a target of Rs 267-280 and keep stoploss below Rs 238,” said the technical note.


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Intraday Tips and Market outlook for 15th July.

>> Wednesday, July 15, 2009

US markets ended flat to positive.
Europe ended positive.
Asia has opened positive.
Expect the Indian Markets to open flat to positive. Markets can give up gains and go in red territory.

The support for the Sensex is 13650 and the resistance to the up move is at 13937-14159
Nifty: (4111) the support for the Nifty is at 4050 and the resistance to the up move is at 4199-4255

Day Trading Ideas :

Aban Offshore : Buy above 792 for target of 796 and 801. SL of 785

IDFC : Buy above 136 for targets of 138 and 142. SL of 133.10

KSK Energy Ventures : Buy above 195 for targets of 197 and 201. SL of 192

Happy Investing !

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Intraday Tips and market outlook for 14th July

>> Tuesday, July 14, 2009

US markets ended higher.
Europe ended higher.
Asia has opened a higher note.
Expect the Indian Markets to open higher too.

The support for the Sensex is 12715-12600 and the resistance to the up move is at 13700-13937
Nifty: (3974) the support for the Nifty is at 3870 and the resistance to the up move is at 4040


Day Trading ideas :

HCL Tech : Buy above 183.10 for targets of 185 and 187. SL of 181.45

HDIL : Buy above 191 for targets of 193 and 196. SL of 188

LNT : Buy above 138 for targets of 145 and 158. SL of 131

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Market outlook and Intraday tips for 13th July

>> Monday, July 13, 2009

US markets ended flat on Friday.
Europe ended negative.
Asia has opened a bit positive. (Japan is trading in green)
Expect the Indian Markets to open flat to positive.

The support for the Sensex is 12715-12600 and the resistance to the up move is at 13645
Nifty: (4004) the support for the Nifty is at 3870 and the resistance to the up move is at 4040


Day Trading Ideas :

MRPL :

Buy above 73 for targets of 74.50 and 76.10. SL of 71.45
Sell below 71 for targets of 69.85 and 68.10. SL of 72.45

HCC :
Buy above 99.10 for targets of 100.25 and 101.50. SL of 98.10
Sell below 97 for targets of 95.50 and 93.85. SL of 99.10

MNM :
Buy above 698 for targets of 704 and 710. SL of 694.
Sell below 693 for targets of 690 and 685. SL of 696

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Weekly news letter and Stocks to watch out for | Post Budget

>> Sunday, July 12, 2009

A disappointing week for the Indian Stock Markets after Pranab announced the budget this Monday.

What happened last week ?

  • Budgets were announced.
  • Inflation is yet in negative zone.
  • We saw good IIP growth.
  • Infosys posted profits of 17% despite of slowdown.
Sectors to watch out for :
  • Fertilizers
  • IT
  • Reality.
  • And Yes FMCG too.
Stock Tips for the week.
  • RNRL : Buy above 73.45 for targets of 79 and 84. With a SL of 71
  • Wipro : Buy above 389 for targets of 398 and 405. With a SL of 385
  • HCC : Buy above 98 for targets of 106 and 111. With a SL of 95
  • RPower : Buy above 150 for targets of 158 and 165. With a SL of 145
NIFTY Weekly Technicals

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NIFTY Technical analysis | Post Budget.

After budgets we have witnessed a huge fall on the Indian Stock markets. The fundamentals didn't support after budget.

Now every one have reduced the rating for the markets. Every one is predicting the markets to further fall down.

Last week NIFTY closed at 4003.9 just managed to sustain the 4K level.
NIFTY TRIN at 1.631
NIFTY Range - Between 3820 to 4185


Current Spot - 4003.9
Support - 3910 and 3805
Resistance - 4102 and 4221
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Short term target : 4100.


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Blog carnival for the week | Budget brings new directions for markets.

>> Saturday, July 11, 2009

What we started off was with a big fall this Monday because of Budget.

Here are the Highlights of Indian Union Budget 2009 - 2010 : The Budget was basically meant for Common man.
The stock markets reacted negatively due to budget and plunged 800 odd points.
CHALLENGES Read the full article on Squamble.Com

Forthcoming IPO’s in the Indian Stock markets.
Here is the list of two next most important IPO's coming next month. Read the full story at Squamble.Com

What is Sensex 30 and NIFTY 50 ?

I know I am acting stupid by writing such kind of post as all of you must be familiar with this but this is for my readers from other countries. Read full Story on IndianMoneyPlus.Com

A guide for beginners : How to Start in Stock Markets ?
This is the 4th and last part of the series on Stock Markets articles Newcomers. In other parts we discussed some important things which newcomers should know when they enter Markets. In this article we will see how a new comer in stock market should start. Read the full article on Smart Investor.

Corporate Dividends in Emerging Markets – Some Thoughts
The creation of Pan Asia Dividend Aristocrat index by S&P is a realization that Asian economy (specifically emerging markets) will continue to grow. This is a step in right direction to Read the entire post on TIPBlog

Every week on Saturday I would post such kind of articles on Investing and Financial planning.
If you think you have some link to share plz feel free to share by commenting !

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Buy ITC for target of Rs 223: Religare

Religare Securities has advised to buy ITC for target of Rs
223.

“Buy ITC between Rs 211-208 with stop loss of Rs 203 for target of Rs 223,” said Religare Securities report.

Source : Economic Times

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Buy Jindal Steel Power for target of Rs 2690: Nirmal Bang

Buy Jindal Steel Power for target of Rs 2690: Nirmal Bang
Nirmal Bang has advised traders to buy Jindal Steel Power for target of Rs
2690.

“Buy Jindal Steel Power can on dips and hold with stop-loss of Rs 2370 for a target of Rs 2690. A trade below Rs 2370 could bring heavy selling pressure in the counter,” said Nirmal Bang report.

Source : Economic Times

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Intraday Tips and Market outlook for 10th July

>> Friday, July 10, 2009

US markets ended flat. (But in green)
Europe ended in green.
Asia is trading positive to flat.
Expect the Indian Markets to open in the same manner.

The support for the Sensex is 13514-13400-12600 and the resistance to the up move is at 13960
Nifty: (4081) the support for the Nifty is at 3870 and the resistance to the up move is at 4135

Day Trading Ideas :

Cairn India :
Buy above 211 for targets of 215 and 218. SL of 207
Sell below 205 for targets of 202 and 199. SL of 207

KSK Energy :
Buy above 228 for targets of 231 and 234. SL of 224
Sell below 223 for targets of 221 and 218. SL of 227

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Buy BPCL for target of Rs 512: Anand Rathi

Anand Rathi has advised traders to buy BPCL for a target of Rs 512. “Buy BPCL between Rs 462-466 with stop loss of Rs 439 for a target ofRs 512,” said the technical note.

Note: Recommendation validity period is 1 week. Stop loss is on a weekly closing price basis.

Source : Economic Times.

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Buy Maruti for target Rs.1130-1150: Religare

Religare Securities has advised traders to buy Maruti for a target of Rs 1130-1150.

“Buy Maruti between Rs 1090-1080 with stop loss of Rs 1065 for target of Rs 1130-1150,” said the technical report.


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Mahindra Holidays and Resorts IPO Allotment status

>> Thursday, July 9, 2009

One can get Mahindra Holidays and Resorts IPO Allotment status Here (Mahindra Holidays and Resorts IPO Allotment status)


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Educomp Solution zooming up due to fund raising plan.

Educomp solution is up almost by 11% odd. The stock is zooming up as the management has approved the issue of 16,20,000 equity shares of Rs 10 each at a price of Rs 3,745 per equity share (”Issue Price”) including a premium of Rs 3,735 per equity share, aggregating to an Issue size of Rs 606.69 crores.

The Stock Look strong and one can expect it to reach 3900 levels in near terms.

Analyst View : Hold Educomp Solutions with target of Rs 3850, says Nitin Murarka of SMC Global on Zee Business. Keep stop loss of Rs 3550, he adds.

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NHPC IPO to hit the market this August.

It has earmarked an investment of Rs28,000 crore in the current XIth Five-Year Plan (2007-12) to become an over 10,000 MW company.

Acting on the government’s disinvestment plans, state-run NHPC will hit the market with its initial public offering of shares to mop up Rs1,670 crore next month.

“NHPC’s IPO will come in August; the company has already started the roadshows for the same,” power secretary H S Brahma told reporters in Delhi on Wednesday.

The company’s public offer will account for 10% of its present equity, while the government will divest a 5% stake of the 100% it currently holds.

NHPC plans to issue fresh equity of Rs1,670 crore through the IPO, and it plans to bring 167 crore shares of a face value of Rs10 each, which would be offered at a premium to be decided through the book-building process.

The company filed the draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India on 6 August last year.

NHPC had earlier filed the DRHP in April 2007 but it was rejected by the market regulator as the company did not have the required strength of non-official directors on its board, which it now has.

It has earmarked an investment of Rs28,000 crore in the current XIth Five-Year Plan (2007-12) to become an over 10,000 MW company from 5,200 MW now. The proceeds from the IPO will be partly utilised to finance expansions.

Source : Live Mint

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Oil India IPO in first week of September

Oil India, the nation's second-largest state-run explorer, is likely to launch an initial public offering (IPO) in the first week of September.

"We are going ahead with the IPO. Roadshows will be held in August and the offering will open for public subscription in the first week of September," a company official said.

OIL, which produces 3.5 million tonnes a year of oil, will offer 2.64 crore equity shares to public in the IPO, while the government will simultaneously sell 10 per cent of its stake in the company to state refiners.

He, however, added that the final timing of the IPO would depend on market conditions. "As of now it is slated for first week of September."

An 11 per cent fresh equity would be sold in the IPO while the government would divest 10 per cent of its stake at the IPO price.

Post-IPO and disinvestment, the government's stake in the company will decrease from 98.13 per cent to 78.5 per cent.

The official said the IPO proceeds would be used to fund capex requirement for 2009-10 and 2010-11 when it had planned Rs 2,300 crore and Rs 2,400 crore expenditure respectively.

OIL has started discussions with bankers, including HSBC Securities & Capital Markets, JM Financial, Citigroup Global Market India and Morgan Stanley India for timing of the IPO, the official said.

OIL was to launch its IPO of 11 per cent equity shares on November 10, 2008, but the reversal of fortunes on the stock markets led to the deferment of the plan.

Alongside the IPO, government is to sell 10 per cent of its current holdings in OIL to Indian Oil Corp, Hindustan Petroleum and Bharat Petroleum. IOC will get 5 per cent while HPCL and BPCL would take 2.5 per cent shares each.

Post-IPO and equity transfer, government shareholding in the company will come down to 78.43 per cent. IOC will hold 4.45 per cent equity stake in the expanded equity base while HPCL and BPCL would hold 2.23 per cent each. Public holding would be 12.66 per cent.
OIL had received all approvals for the IPO from market regulator Securities and Exchange Board of India. "The approvals are valid till September 10," the official said.
Source : Business Standard

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Intraday Tips and Market outlook for 9th July

US markets ended mixed.
Europe ended in red.
Asia has opened flat to negative.
Expect the Indian markets to also open flat to positive.

The support for the Sensex is 13400-12600 and the resistance to the up move is at 13960
Nifty: (4079) the support for the Nifty is at 3870 and the resistance to the up move is at 4135

Day Trading Ideas :

NMDC :
Buy above 333 for targets of 342 and 351. SL of 327
Sell below 325 for targets of 316 and 308. SL of 330

NTPC :
Buy above 195 for targets of 198 and 201. SL of 192
Sell below 190 for targets of 187 and 184. SL of 192

ACC :
Buy above 790 for targets of 805 and 818. SL of 777
Sell below 773 for targets of 765 and 754. SL of 777

Happy Investing !

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BSE India (Sensex 30) and NSE India (NIFTY 50). What are they ?

>> Wednesday, July 8, 2009

What is Sensex 30 and NIFTY 50 ?
I know I am acting stupid by writing such kind of post as all of you must be familiar with this but this is for my readers from other countries.

The full form of Sensex is Sensitive Index and of NIFTY is National Fifty.
Sensex is a Benchmark index of BSE and Nifty is an Index of NSE.
Sensex 30 comprises of all major companies listed on BSE based on their market cap. and liquidity.
Some of the companies at present in SENSEX 30 are Reliance Ind., Infosys ,TCS, LNT etc.
The movement in the all 30 scripts makes a movement in Sensex i.e. it leads the sensex to go up or down.
The same is in case of NIFTY it comprises to top 50 stocks listed on NSE.
Their movement will deside index movement.

Some times we see Midcaps are positive even when Sensex is trading negative, this is because Sensex is calculated on bases of 30 stocks in it. The same is for NIFTY.

Even Sensex and Nifty various other sectoral indices such as bankex for banking, PSU for PSU companies.

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Buy JP Associates with stoploss of Rs 194: Nirmal Bang

Nirmal Bang has advised traders to buy JP Associates with stoploss of Rs 194.

“Huge delivery volume was witnessed in JP Associates. Buy & hold the scrip with stoploss of Rs 194 or Rs 187 for a target of Rs 223 and Rs 232,” said the technical note.

Source : Economic Times

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Buy Unitech with a stoploss of Rs 73 -71: Nirmal Bang

Nirmal Bang has advised to buy Unitech with a stoploss of Rs 73 -71.

“Buy and hold Unitech with a stoploss of Rs 73 -71. The counter is showing strong strength of revival. It faces resistance at Rs 83 and if it maintains above this level then look for target of Rs 89,” the note said.

Source : Economic Times

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