Grasim an underperformer, target Rs 2303: Karvy

Karvy Stock Broking has maintained its underperformer rating on Grasim Industries with a revised price target of Rs 2303 in its report dated August 11, 2009.

"We have revised our earning estimates and price target upward due to delay in cement price decline and cost reduction. However despite earning upgrade; the company is currently trading at PER multiple of 11.3x and EV/EBIDTA multiple of 5.3x on FY11E earning. Looking at bleak outlook for cement and VSF segment; we maintain our underperformer rating with revised target price of Rs 2,303 based on our SOTP valuation," says Karvy Stock Broking's report.

Source : Money Control.

Read the full post...

Intraday Tips and Market Outlook for 1st Dec.

US markets had rallied after Citi group gets bailout.

Last week Indian GDP figures were out which come out at 7.6% v/s 7.9% in the last Quater which is a bad indicator.

Asia has opned lower.

I expect Indian markets to open flat to negative.

We may recover if we have a gap down opening.

Levels to watch on Sensex are Support at 8750 - 8400 and resistance for upmove at 9410 and 10,120.

Levels on NIFTY support at 2650 - 2500 and resistance for upmove at 2890 - 3120.

Day Trading Ideas.

Unitech 

Buy above 23.50 for targets of 24.90 and 26.10

Sell below 21.30 for targets of 20.90 and 20.05

KSK Energy Ventures.

Buy above 156 for targets of 159 - 162

Sell below 149 for targets of 146 - 143

Grasim Ind.

Buy above 905 for targets of 912 and 918

Sell below 879 for targets of 871 and 865

Century Textile.

Buy above 135 for taregst of 137 and 139

Sell below 131 for targest of 128 and 125

Voltas Ltd.

Buy above 51.25 for targets of 52.50 and 53.90

Sell below 48.90 for targets of 47.50 and 46.90

Happy Trading.

Receive This kind of updates in ur email Id Subscribe - Click here.

Receive SMS updates for free - Click here.

Read the full post...

Sensex surges over 300 pts on PM’s assurance.

The 30-share index, which opened higher by 160 points, surged further by 323.93 to 8,774.94 points despite weak global markets.

The benchmark Sensex soared by over 320 points in late morning trade on Friday after Prime Minister Manmohan Singh assured that country will sustain a growth rate of 8% despite the adverse impact of the global financial crisis.

The 30-share index, which opened higher by 160 points, surged further by 323.93 to 8,774.94 points despite weak global markets. The BSE barometer had tanked over 2,100 points in the last seven trading sessions.

The wide-based National Stock Exchange’s Nifty moved up by 95.25 points at 2,648.46 points.

“We have the ability to sustain a growth rate of about eight per cent. And we will do so,” the Prime Minister said at the Hindustan Times Leadership Summit here.

Marketmen said sentiment turned better after government data showed inflation declined by 0.08% to 8.90% during the week ended 8 November.

Country’s most valuable company Reliance Industries gained Rs19.40, or 1.83%, at Rs1,078, while ONGC stocks gained Rs24.50, or 3.77%, at Rs674.90 mainly contributed rise to the Sensex.

SBI stocks gained Rs26.75, or 2.45% at Rs1,119.30.

Other gainers were BHEL, Larsen and Toubro, Bharti Airtel, DLF Ltd, Grasim Industries, Maruti, Mahindra, Mahindra and Sterlite Industries. Tata Power and Tata Consultancy. - Mint

Read the full post...