IPO Talk: Religare Enterprises

Religare Enterprises is entering the capital market on 29th October 07 with a public issue of 75.76 lakh equity shares of Rs.10 each, in the band of Rs.160 to Rs.185 per share. The proposed issue is 10% of the expanded equity of Rs.75.76 crores.

The company is 100% holding company for various subsidiaries engaged in stock broking, personal finance, commodities broking, insurance broking, wealth management services, venture capital, investment banking and art initiatives. Reliance Insurance Holding Co. Ltd., an insurance holding company, is 75% subsidiary of the company. The companies are all in place with strong organization network and capable to achieve scalability, over a period of time. Senior level executives and personnel have been recruited by various subsidiaries and business of all these subsidiaries would witness a sharp increase in time to come.

For FY07, on consolidated basis, total income of the company was placed at Rs.320.12 crores with PBT of Rs.47.60 crores and PAT of Rs.25.02 crores resulting in an EPS of Rs.3.67, on pre-issue equity of Rs.68.19 crroes. For 6 months ending 30-09-07, the total income was placed at Rs.307.96 crores with PBT of Rs.57.64 crores and PAT of Rs.36.73 crores, resulting in an annualized EPS of Rs.10.80. This means, present issue is being made at a PE multiple of 17, based on FY 08 earnings, and at the upper band of Rs.185 per share.

Presently, the company with its subsidiaries have 1,217 business locations managed by the company and its subsidiaries as also Business Associates in 392 cities and towns in India. The company proposes to establish 100 more branches for which Rs.26.50 crores has been allocated. Rs.50 crores has been allocated for funding retail finance business. Rs.60.60 crores has been earmarked for lending business and this amount has been sourced from pre-IPO placement, having made at Rs.160 per share.

The post issue equity of the company will be at Rs.75.76 crores and at Rs.185 per share, it has a market capitalization of close to Rs.1,400 crores which is very low, thus having huge scope of expansion. Also, in view of low-base and recent creation of organization for various subsidiaries, CAGR of atleast 40% for the next three years in bottomline is visible. This kind of performance would be well received by the market, post listing.

The issue is very attractively priced and investment is advised at the upper band of Rs.185 per share. This is probably the most economical broking stock which can give handsome returns to the short term and medium term investors as also good listing gains.

Source:sptulsian.com

*****Latest Grey Market Premium: Rs. 250-270/-

IPO Talk: Mundra Port & SEZ

Mundra Port and Special Economic Zone is entering the capital market on 1st November, 07 with a public issue of 402.50 lakh equity shares of Rs.10 each, in the band of Rs.400 to Rs.440 per share.

The company is the developer and operator of Mundra Port, which has a deep water draft ranging from approx. 15 meters to 32 meters in depth, at a distance of about 15 km. from shore, where it is used to unload crude, a big business potential. The port is principally engaged in providing port services for bulk cargo, container cargo, crude oil cargo, and value added port services including railway services. The commercial operations of the port has commenced from October 2001. Total cargo volume at Mundra Port increased from 11.7 million MT in FY 06 to 19.8 million MT in FY 07.

The concession agreement for the port is 30 years, which would expire on 17-02-2031, and 3,404 acres of land has been permitted to get used for the port alongwith a right to use the foreshore land and waterfront, and on 17-02-2031 the port shall be transferred to Gujarat Maritime Board.

The company presently has 15,665 acres of land available and 16,688 acres of additional land are at various stage of being transferred to the company, thus aggregating 32,353 acres for Port and SEZ.

The present equity of the company is Rs.360.04 crores which will increase to Rs.400.68 crores post IPO, of which, promoters stake would be 81.30% while 10% is being issued to the public, while about 8.7% is held by private equity investors like ICICI Bank, IDFC, Govt. of Singapore, Indivest PTE and 3i Venicle (Mauritius) Ltd.

For FY 07, the income of the company was placed at Rs.596 crores with PBT of Rs.175 crores and PAT of Rs.187 crores, due to deferred tax credit of Rs.13.32 crores. The total debt of the company as at Rs.30-06-07 was at Rs.1,399 crores while net worth was at Rs.764 crores.

If we calculate the enterprise value, post IPO, at the upper band of Rs.440 per share, the same works out at Rs.17,600 crores and adding debt of Rs.1,400 crores it works out to Rs.19,000 crores, which is very low compared to the size and operations of the Port and SEZ.

The company now has estimated a requirement of Rs.3,160 crores, which is mainly being Rs.700 crores for SEZ, Rs.2,000 crores for coal terminal project, Rs.255 crores in Adani Petronet (Dahej) Port, Rs.49 crores for Adani Logistic and Rs.156 crores for Inland Conware P. Ltd. This is being financed by debt of Rs.1,200 crores, internal accruals of Rs.525 crores and Rs.1,435 crores from proposed IPO. At the upper band, issue would mobilize Rs.1,770 crores which would take care of this requirement.

The noteworthy feature of the project is that such a big port is already operational, with virtually, entire land for port and SEZ having acquired. The potential of revenue generation is huge in view of all weather nature as also huge cargo inflow of coal mainly for Tata Power (4,000 MW) Ultra Mega Power Project and Adani Power, 2,640 MW, project. The crude cargo would also give huge revenue to the port. SEZ income would be added to the revenue and profitability of the company, in the coming years. However, concession period of 30 years, expiring in 2031 is considered to be of shorter duration.

As the infrastructure projects have huge potential and this being an operational Port, it represents an excellent investment bet and is recommended for investment even at the upper band of Rs.440 per share.

Source:sptulsian.com

*****Latest Grey Market Premium : 300-320

Markets Today

The markets ended marginally in green off day's high ahead of the Fed meet announcement. Selective buying was seen in power, bank, real estate stocks. Action was seen in the midcap space as the index is up nearly 1% and the smallcap index is giving it good company up 1.5%.
Market is eyeing Fed's crucial decision on rate cut, anayst are expecting a 25 bps rate cut.
On the results front, Bharti's results beat street expectations as non mobile business has helped in the outperformance. However HUL came out with weak set of numbers.
Realty majors Unitech and DLF are trading in green on the back of good set of numbers
Reliance Energy, Ranbaxy, NTPC, Sterlite Ind, Bharti, Reliance Communication, Reliance, Tata Steel, SBI were among the top gainers on the indices.
Top losers on the Sensex are HUL, Grasim, BHEL, Tata Motors, TCS , HDFC Bank and Wipro.
Sensex was up 54.48 points or 0.28% at 19837.99, and the Nifty up 31.90 points or 0.54% at 5900.65.
About 1537 shares have advanced, 1435 shares declined, and 87 shares are unchanged.
The BSE Midcap Index ended at 8,135.21 up 1.1%.
The BSE Smallcap Index ended at 9,796.86 up 1.6%.
The BSE Bankex was up 1% at 10,655.33. Bank of Baroda, PNB, HDFC Bank, Canara Bank, ICICI Bank moved upwards.
The BSE Capital Goods Index was down 1% at 19,795.32. Reliance Infra, Kalpataru Power, Carborundum, Alfa Laval, Greaves Cotton closed lower.
The BSE Auto Index closed at 5,507.17 up 0.5%. Exide Industrie, MRF, Bharat Forge, Mah and Mah, Cummins closed higher.
The BSE Metal Index closed at 17,884.93 up 3.4%. Jindal Steel, Jindal Saw, Hind Zinc, JindalStainless, Sesa Goa closed higher.
The BSE FMCG Index closed down 1% at 2,126.59. HUL, United Spirits, United Brewerie, Godrej Consumer closed lower.
BSE Oil and Gas Index closed at 11,658.48 up 1.2%. Reliance Petro, Petronet LNG, Reliance Natura, IOC, ONGC, BPCL ended higher.
The BSE IT Index was at 4,618.72 down 0.6%. Patni Computer, Tech Mahindra, TCS, Wipro closed lower.
The NSE cash turnover was at Rs 22652.01 crore and the NSE F&O turnover was at Rs 71090.73 crore. The BSE cash turnover was Rs 10018.18 crore. Total market wide turnover was at Rs 103760.92 crore.
Source:moneycontrol.com

Intraday Calls for 31st October

Market may open nagetive and see some profit booking but later recovery expected.

Buy for Intraday: (Buy at lower levels)

Exide Industries (67)
Nagarjuna Fert. (60)
Essar Oil (56)
JP Hydro (84)
REL (1795)
Ansal Properties & Infra (244)
ABB Ltd. (1552)
Poly Medicure (135)
Ruchi Soya (90)
Apar Industries (253)
Lok Housing (196)

Keep an eye on small psu banking stocks like Vijaya Bank, Dena Bank, UCO Bank, buy at dip for short term gain.

Good Luck

Markets Today

The markets ended in red after a sharp run up in the past few sessions. It was an important day as RBI announced the credit policy. According to experts, markets will be unaffected by the the new credit policy as the credit policy was largely inline with street expectations. In the new credit policy, repo rate and reverse repo is left unchanged and CRR has been hiked by 50 bps it has maintained the GDP forecast at 8.5%. The rupee has appreciated at 39.38 against the dollar.
CRR hike is largely a liquidity management tool than used for signalling any interest rate changes. The policy has largely managed the status quo, say experts.
RPL, Sterlite Ind, BHEL and Bharti Airtel were trading strong. However, trading weak were PNB, M&M, TCS and Maruti Suzuki.
Sensex was down 194.16 points or 0.97% at 19783.51, and the Nifty down 37.15 points or 0.63% at 5868.75.
About 1217 shares have advanced, 1760 shares declined, and 81 shares are unchanged.
The BSE Midcap Index ended at 8,048.07 down 0.4%.
The BSE Smallcap Index ended at 9,644.44 down 0.6%.
The BSE Bankex was down 1% at 10,550.09. PNB, Kotak Mahindra, SBI, IOB, ICICI Bank, Andhra Bank moved downwards.
The BSE Capital Goods Index was up 1% at 20,006.57. Punj Lloyd, AIA Engineering, Areva T&D, ABB, BHEL closed lower.
The BSE Auto Index closed at 5,479.89 down 3%. Maruti Suzuki, Mah and Mah, Tata Motors, Tube Investment, Punj Tractors closed lower.
The BSE Metal Index closed at 17,302.22 up 1%. Sesa Goa, Jindal Steel, Sterlite Ind, Hindalco, Hind Zinc closed lower.
The BSE FMCG Index closed at 2,146.87 down 1%. Britannia, ITC, P&G, Tata Tea,HUL closed lower
BSE Oil and Gas Index closed at 11,526.30 down 1%. BPCL, Reliance, ONGC ended in red.
The BSE IT Index was down 0.6% at 4,647.53. TCS, Iflex, Satyam, Infy ended in red.
The NSE cash turnover was at Rs 24611.60 crore and the NSE F&O turnover was at Rs 89601.31 crore. The BSE cash turnover was Rs 10948.83 crore. Total market wide turnover was at Rs 125161.74 crore.
Source:moneycontrol.com

Intraday Calls for 30th October

Market will continue its bull run and today nifty can touch 6000. If no change in CRR & Repo or cut in rates then market will zooooom to new highs.

Buy for Intraday:

Dewan Housing (102) Target 108-110 SL 100
GIC Housing (64.75) Target 68-70 SL 63
Torrent Power (162) Target 165-168 SL 160
Bombay Dyeing (743) Target 775-790 SL 735
Bharat Forge (352) Target 360-365 SL 348
TTML (47.5) Target 50 SL 46.5
Jindal Saw (739) Target 760-775 SL 730
Can Fin Homes (71) Target 75+ SL 70
PSL (452) Target 465 SL 446

Keep an eye on all banking stocks like Syndicate Bank, Andhra Bank, BOB, Yes Bank etc. If no change of cut in rates then banking stocks will zoooooooom.

Others: Gallant Metal, Paramount Communication, DCW, BHEL, L&T, NIIT Ltd.

Good Luck

Markets Today: Sensex Hits 20000

The bulls run the Indian markets have achieved another milestone with Sensex hitting the 20,000 mark. It was a solid 700 points rally on the Sensex and Nifty hit 5,900 levels scoring over a double century. It was third biggest single day absolute point fot the Sensex. Strength was seen coming from all quarters.
Cues from Asia and rest of the equity markets were robust which has helped in such a rally.Asia has ended in green with gains of 1%-3%. Hefty 14 points premium is seen in Nifty futures.
Top 6 stocks contributed to 90% to the 1000 point rally from 19,000 to 20,000.
L&T and ICICI Bank top contributors with 50% contribution of last 1000 points rally.
Large caps are the clear outperformers. L&T, BHEL, Reliance Petro, Siemens, HDFC, HDFC Bank were among the star performers.
Broader markets also participated in the uptrend both the midcap and smallcap indices each up nearly 2%.
On the corporate front, Maruti came out with numbers largely inline with street expectations. Capital goods, banking, metal and realty stocks were in focus. Market breadth is positive with impressive volume. All the key indices are trading in green. BSE capital good index has raced ahead and was up 7% followed by BSE metal, oil & gas and bankex each up over 3%.
Sensex was up 734.50 points or 3.82% at 19977.67, and the Nifty up 203.60 points or 3.57% at 5905.90.
About 1700 shares have advanced, 1288 shares declined, and 70 shares are unchanged.
L&T was up 10%, BHEL is up 7%, ONGC up 7%, HDFC Bank up 7%, RPL up 9%, Maruti up 5% were among the top performers on the indices.
The BSE Mid Cap Index closed at 8,082.54up 2%.
The BSE Smallcap Index ended at 9,705.20 up 1.6%.
BSE Metal Index was up 3%; Jindal Saw, Jindal Steel, Mah Seamless, SAIL, Sesa Goa, NALCO.
BSE Oil & Gas Index was up 5%; Reliance Natura, Reliance Petro, ONGC, Reliance, GAIL.
The BSE FMCG Index closed at 2,161.67 up 2%. United Spirits, Marico, Nestle, Godrej Consumer, Britannia, Tata Tea ended higher.
The BSE Capital Goods Index was up 7% at 19,847.66. Siemens, L&T,Alfa Laval, BHEL, Areva T&D, Punj Lloyd, Thermax were among top gainers.
The BSE Auto Index closed at 5,656.43 up 1%. MRF, Amtek Auto, Bharat Forge, Escorts, Tube Investment, Apollo Tyres were among the gainers.
The BSE IT Index closed at 4,674.65 up 0.8%. Mphasis, Wipro, Satyam, Financial Tech,Tech Mahindra ended higher.
The BSE Bankex was up 4% at 10,649.71. HDFC Bank, ICICI Bank,Yes Bank, PNB, Bank of India, Allahabad Bank closed higher. The NSE cash turnover was at Rs 21775.4 crore and the NSE F&O turnover was at Rs 69537.38 crore. The BSE cash turnover was Rs 8883.17 crore. Total market wide turnover was at Rs 100195.95 crore.
Source:moneycontrol.com

Intraday Calls for 26th October

Market will open weak or flat today but then it can see positive trading whole day.

Buy for Intraday:

Adhunik Metal (128) Target 135 SL 126
Chola DBS (185) Target 195 SL 183
Hindustan Unilever (220) Target 225-228 SL 216 (Short Term Target 250+)
IDEA (152) Target 155-158 SL 150
Gujarat Apollo Industries (232) Target 240-245 SL 228
Praj Industries (200) Target 210 SL 197
Voltas (185) Target 190 SL 183
VSNL (553) Target 565 SL 548

Others: Atlanta, IFCI, Nagarjuna Fert., Austin Eng., IDFC, DCW, Bihar Caustics (BCCL).

Good Luck

What Has Been Announced by SEBI?

Applause!! A standing ovation!! SEBI indeed deserves all the accolades it can have today. Without bending to the market pressures, SEBI has done what it is always supposed to do – protect the interest of the investors.

The much awaited meeting of SEBI on the controversial participatory notes (PN) issue was finally over and it was a relief to know that SEBI is doing what is conducive to the betterment of the market and the country. Bringing in more transparency, the new norms announced by SEBI will go a long way in making it easier for the authorities to keep a track over the source of funds.

The new norms would come into effect from 26th October 2007. A quick look at what has been announced:

The proposal to disallow P-Notes with underlying as derivatives has been cleared.

Sub-accounts of Foreign Institutional Investors (FIIs) should immediately stop issuing P-Notes.

FIIs have to wind up P-notes for investing in derivatives within 18 months.

P-Notes can only be issued to regulated entities.

Pension funds, charities and endowments can register, even if not regulated, and they will be treated as separate category.

Proprietary and corporate sub-accounts can continue their business until they get registration.

Some sub-accounts that applied with SEBI for conversion to FIIs have been cleared, while others are still to be approved.

The date for the calculation of Asset Under Custody (AUC) will be September 30, 2007.

Broad-based sub-accounts must have at least 20 investors and they cannot have a single person holding over 49% of AUC.

FIIs who have issued P-notes, less than 40 per cent of their assets under custody, can issue additional instruments at the rate of five per cent of their assets.

FIIs who have issued P-notes, of more than 40 per cent, of their assets, could issue such instruments only if they cancel, redeem, or close their existing PNs.

P-notes cannot be issued for more than 40 per cent of their assets under custody.

The final regulation of SEBI is more or less on the draft proposal except for shifting date to September 30th for AUC calculation. Also, inclusion of Pension funds, societies and charities, even though unregulated, has enlarged the list of FIIs. Even composition of broadbased sub-account now must have 20 investors with singe investor not having more than 49% stake. Also, track record of 1 year gets applied to the fund manager and not to the fund, which would be a big relief for new funds to get registered as FII, immediately. No dilution in KYC norms has been made. Proprietory Sub Account and Corporate Sub Account can continue to do business in transition period, pending registration of applications.

It is likely that these regulations would have far reaching positive impacts on regulating foreign flows into the Indian Capital Markets and not restricting them in any manner. Market would become healthy, as regulated money would flow in, hereafter.

Source:sptulsian.com

Markets Today

The markets ended in green on the triple witching day showing some smooth and healthy rollovers. It was a choppy start but has gradually moved ahead to end at higher levels. Cues from Asia were posiitive with most of the markets Asia ending in green. Metal stocks were the star performers of the day with Tata Steel, Hindalco, Nalco being among the top gainers.
Also ahead there is SEBI's decision on participatory notes. Capital goods, metals and oil & gas stocks were attracting attention. IT, FMCG and auto stocks were subdued today.
Midcap index ended inline with the frontline indices and was up over 1.3% and the smallcap index was up 1.4%.
Sensex was up 257.98 points or 1.39% at 18770.89, and the Nifty up 72.80 points or 1.32% at 5568.95.
About 1729 shares have advanced, 1247 shares declined, and 80 shares are unchanged.
BSE metal index is up over 4%, followed by auto, capital goods, oil & gas and bankex.
FMCG, IT and pharma indices were trading weak in the negative terrain.
Top gainers on the indices are Tata Steel, Nalco, ICICI Bank, Maruti Suzuki, Hindalco, Reliance Energy, VSNL, BHEL, SAIL and SBI.
Top losers on the indices were Cipla, HCL Tech, Dr Reddys Labs, ONGC and HDFC Bank.
The BSE Midcap Index ended at 7,750.93 up 1.3%.
The BSE Smallcap Index ended at 9,367.08 up 1.4%.
The BSE Bankex was up 3% at 9,924.11. Bank of Baroda, ICICI Bank, PNB, Kotak Mahindra, Canara Bank moved upwards.
The BSE Capital Goods Index was up 1.2% at 17,314.13. Areva T&D, Bharat Bijlee, Triveni Eng, Bharat Elec, Punj Lloyd closed higher.
The BSE Auto Index closed at 5,503.58 up 2%. Tube Investment, Amtek Auto, MRF, Bharat Forge, Apollo Tyres, Punj Tractors closed higher.
The BSE Metal Index closed at 16,424.52 up 4%. Tata Steel, Jindal Steel, Sterlite Ind, NALCO, Sesa Goa closed higher.
The BSE FMCG Index closed flat at 2,134.75. Godrej Consumer, HUL, Marico, GlaxoSmith Con, Britannia closed higher.
BSE Oil and Gas Index closed at 10,800.82 up 0.6%. Petronet LNG, BPCL, Reliance Petro, Reliance, GAIL ended higher.
The BSE IT Index was flat at 4,582.54. Satyam, Wipro, HCL Tech closed higher.
The NSE cash turnover was at Rs 23411.47 crore and the NSE F&O turnover was at Rs 103930.17 crore. The BSE cash turnover was Rs 8421.14 crore. Total market wide turnover was at Rs 135762.78 crore.

Source:moneycontrol.com

Intraday Calls for 25th October

Market may open flat to nagetive and remain highly volatile whole day coz of expiry today and new sebi regulation impact.

Buy for Intraday:

New Listing Mytas Infra (370) it can list around 450-470 Target 500+ Profit booking around 550
DCW (18.80) Target 20-21 SL 18
RPL (190) Target 195-200 SL 188
Cairn Energy (204) Target 210-215 SL 200
Voltas (180) Target 185-188 SL 176
Wockhardt Ltd. (425) Target 450 SL 420
Prithvi Info (260) Target 275 SL 256
JP Hydro (74) Target 78-80 SL 72
Bank of India (303) Target 310-315 SL 300

Others: SRF, Blue Star (362), Dabur (108), IDBI (145), KPIT (112), Lok Housing (200), Atlanta (270)

Good Luck

Markets Today

The market ended flat amid volatile trades ahead of the triple witching day. Buying was seen in energy, bank, metal and realty pivotals. IT, auto and select oil & gas stocks were witnessing selling pressure. Broader markets outperformed the benchmark indices to end higher.
BSE realty and metal index are up 2% followed by capital goods and banex up 1%. IT and oil & gas indices ended weak.
Top gainers on the indices are Reliance Energy up 8%,SBI up 5%, Suzlon Energy up 7%, Satyam & Tata Steel up nearly 2%.
Top losers on the indices are ONGC, M&M, Tata Motors, Hero Honda, GAIL, HUL and Dr Reddys Labs.
Sensex was up 20.07 points or 0.11% at 18512.91, and the Nifty up 22.45 points or 0.41% at 5496.15.
About 1693 shares have advanced, 1294 shares declined, and 67 shares are unchanged.
The BSE Midcap Index ended at 7,650.69 up 1.3%.
The BSE Smallcap Index ended at 9,242.38 up 1.2%.
The BSE Bankex was up 1% at 9,665.67. SBI, IOB, ICICI Bank, Andhra Bank, Karnataka Bank, Kotak Mahindra, Bank of India moved upwards.
The BSE Capital Goods Index was up 2% at 17,112.32. Triveni Engg, Astra Microwave, Suzlon Energy, Thermax closed higher.
The BSE Auto Index closed at 5,404.26 down 1%. Hero Honda, Tata Motors, Tube Investment, Bajaj Auto, Mah and Mah closed lower.
The BSE Metal Index closed at 15,772.94 up 2.5%. JSW Steel, Sesa Goa, Shree Precoated, Jindal Saw, Mah Seamless, SAIL closed higher.
The BSE FMCG Index closed at 2,135.45 down 0.3%. GlaxoSmith Con, Britannia, Nestle, United Spirits, Dabur India closed higher.
BSE Oil and Gas Index closed flat at 10,736.91. ONGC, GAIL, BPCL ended in red.
The BSE IT Index was down 1% at 4,580.23. Infosys, TCS, Wipro, Tech Mahindra, Patni Computer closed down.
The NSE cash turnover was at Rs 19767.21 crore and the NSE F&O turnover was at Rs 107495.25 crore. The BSE cash turnover was Rs 7966.95 crore. Total market wide turnover was at Rs 135229.41 crore.

Intraday Calls for 24th October

Market should open positive and remain positive. Market can touch 20000 by this DIWALI if other external reason will not effect like Govt., Politics, SEBI etc.


Buy for Intraday:


SAIL (236) Target 250 SL 232
Tata Steel (896) Target 925 SL 890
CIPLA (193) Target 200 SL 190
Tata Power (1060) Target 1090-1100 SL 1050
Hindustan Unilever (215) Target 222-225 SL 213
India Bulls Financials (546) Target 560-575 SL 540
Hind Oil Exploration (117) Target 122-125 SL115
RCOM (755) Target 775 SL 750
Bank of Baroda (290) Target 300+ SL 286
Syndicate Bank (86) Target 90 SL 84
Prithvi Info (253) Target 265 SL 250


Others: Suzlon, Siemens, Satyam Computer, KPIT, LIC Housing Finance, Dewan Housing.

Good Luck

Intraday Calls for 23rd October

Market can see a strong rally today. A positive day after a dip corrections.

Buy for Intraday:

Ambuja Cement (145) Target 148-150 SL 144
Punj Llyod (342) Target 355 SL 338
IDBI (125) Target 130 SL 123
Parsvnath Developers (330) Target 340 SL 326
MOSER Baer (290) Target 300-310 SL 288
KS Oils (73.5) Target 76-78 SL 72
LIC Housing Finance (226) Target 232-235 SL 224
Dewan Housing (67) Target 72-75 SL 65
GTL Ltd. (241) Target 250-255 SL 238

Others Are: RCOM, TTML, Zee News, IFCI, Nagarjuna Fert., PTC, Ansal Buildwell, Orbit Corp.

Good Luck

Intraday Calls for 22nd October

Market may open with downside gap. Can recovers from intraday low.

Buys for intraday at lower levles in panic condition:

RCOM,
Triveni Eng.
GMR Infra
Indiabulls
Gammon India
Skumar Nation
SAIL
EKC
Wipro
Infosys

Good Luck.

Intraday Calls for 19th October

Market may open with gap up as Reliance & Wipro post super results and yesterday's deep fall because of just some rumours.

Buy for Intraday:

Reliance (2575) Target 2650-2700 SL 2550
Ranbaxy (422) Target 435-440 SL 415
Wipro (496) Target 515 SL 490
ACC (1038) Target 1075-1100 SL 1030
Tata Chemical (310) Target 320-325 SL 306
HDIL (672) Target 700+ SL 670
Petronet LNG (74) Target 78-80 SL 72
Selan Explo (152) Target 160-165 SL 148
NIIT Tech. (378) Target 400+ SL 374

Others: GTL Infra (39), Noida Toll (33.50), KPIT (116), Lok Housing (200), Supreme Infra (175)

Good Luck

Intraday Calls for 18th October

Market is likely open with positive and may remain positive whole day with high volatility.

Buy for intraday:

New Listing: Supreme Infra (108) Target 225+
PTC India
GTL Infra
GMR Infra
Dhanus Tech,
Noida Toll
Trent Ltd.
KPIT Cummins
Reliance Ind
RPL
ONGC

Good Luck

Markets Today

It was a dramatic and extremely important day for the markets as they hit the lower circuit stopped trading for an hour but showed remarkable recovery and ended off the lows. But the loss was fairly reasonable as compared to turmoil it saw in the opening trade. With more clarification in the statements by Sebi on Paticipatory Notes led to the recovery.
Sensex ended down over 300 points, recoverig 1400 points from the day's low.
IT stocks were the star performers and following the suit were power and capital goods that led the recovery.
Recovery was led by TCS, Reliance, Bharti Airtel, Hindalco, SAIL, Siemens, ABB, Satyam, Relaince and Infosys. Power stocks like Power Grid, PTC, Neyveli Lignite ended in green.
Top losers on the indices are ICICI Bank, HDFC, ACC, SBI, Reliance Energy.
Sensex was down 336.04 points or 1.76% at 18715.82, and the Nifty down 108.75 points or 1.92% at 5559.30.
About 1099 shares have advanced, 1885 shares declined, and 65 shares are unchanged.
The BSE Midcap Index ended at 7,600.94 down 2.3%.
The BSE Smallcap Index ended at 9,201.58 down 2%.
The BSE Bankex was down 4% at 9,607.61. SBI, IOB, ICICI Bank, Andhra Bank, Karnataka Bank, Kotak Mahindra, Bank of India moved downwards.
The BSE Capital Goods Index was down 2% at 16,824.54. L&T, Suzlon Energy, Areva T&D, BHEL, Triveni Engg closed lower.
The BSE Auto Index closed at 5,476.00 down 2%. Escorts, MRF, Cummins, Tata Motors, Bajaj Auto closed lower.
The BSE Metal Index closed at 15,719.80 down 3%. Tata Steel, SAIL, Shree Precoated, Jindal Steel, Mah Seamless, Hindalco, JindalStainless closed lower.
The BSE FMCG Index closed at 2,100.38 down 2%. United Spirits, Bata India, United Brewerie, Colgate, HUL closed lower
BSE Oil and Gas Index closed at 10,961.30 down 0.3%. HPCL, IOC, Essar Oil ended in red.
The BSE IT Index was up 1% at 4,676.49. TCS up 2.5%, HCL Tech up 1.5%, Satyam, Infy up over 1%.
The NSE cash turnover was at Rs 24040.11 crore and the NSE F&O turnover was at Rs 98395.58 crore. The BSE cash turnover was Rs 10282.79 crore. Total market wide turnover was at Rs 132718.48 crore. In the NSE F & O segment turnover, previous high was Rs 1 lakh cr).

Source:moneycontrol.com

Intraday Calls for 17th October

Markety will open with a dip gap down something like 4-5%. But I think this is a buying opportunity for med term and long term. The bull market will continue in long run after this correction.
Sensex Support 17800 and Nifty Support 5250

Buy in panic for short to med term.

GMR Infra
GDL
Lok Housing
IDBI
REL
Binani Industries (Binanizinc)
CESC
Power Grid

Good Luck

Intraday Calls for 16th October

Market may open flat to positive and remain volatile. Market may see some profit booking but a flat closing expected.

Buy for Today:

GDL (140) Target 145-148 SL 138
HPCL (246) Target 255 SL 244
BPCL (360) Target 370 SL 355
Jindal Stainless (182) Target 188-190 SL 180
Sterlite Optical (263) Target 275 SL 260
Lok Housing (178) Target 185-190 SL 175
Thermax Ltd. (844) Target 865 SL 830 (Buy at lower levels)
KS Oil (85.5) Target 88-90 SL 83
Selan Exploration (152) Target 160 SL 150

Others: ZF Steering, RNRL, Reliance Ind, REL, Vakrangee Software, Hind Oil Explo, Bajajhind, Triveni Eng.

Good Luck

Investment Idea: Blue Bird

Blue Bird is a leading paper based notebook manufacturer as also manufactures files, perforated pads, registers and filler paper.

Indian stationery market is largely dominated by unorganized sector to the extent of 80%. Of 20%, held by the organized sector, 15% is held by large players and 5% by small players. Of this 15%, company has market share of 48% or about 7% of the total stationery market.

The company went public on 16-11-06 with its IPO, of 87.75 lakh equity shares of Rs.10 each, at Rs.105 per share. Share listed on 14-12-06, and closed below its issue price at Rs.92..

For FY 07, total income of the company was placed at Rs.454.93 crores, EBITDA of Rs.57.39 crores, PBT of Rs.41.73 crores and PAT of Rs.26.95 crores on equity of Rs.35 crores, resulting in an EPS of Rs.7.70. The company declared a dividend of 12% for the year. .

For quarter ending June 07, the company had achieved total income of Rs.129.59 croes, EBITDA of Rs.19.81 crores, PBT of Rs.12.62 crores and PAT of Rs.8.31 crores, giving an EPS of Rs.2.37 for the quarter. .

For FY 08, the company is expected to have a topline of Rs.600 crores. EBITDA of Rs.96 crores, PBT of Rs.60 crores and PAT of Rs.40 crores, which would result in an EPS of Rs.11 for FY 08. .

The company started its Indore unit on 17-09-07 with 6,656 sq. feet and Bangalore unit on 16-08-07 with 6,504 sq. feet which would increase its production from December 07 quarter. .

The company mobilized Rs.92 crores from IPO at Rs.105 per share, and Rs.12 crores from preferential allotment, by issuing 12.25 lakh shares on 30-10-06 at Rs.98 per share to India China Pre-IPO Equity (Mauritius) Ltd. .

The present equity is Rs.35 crores, which is held by the promoters, of 52.57%, FII 10.24% and rest with the public.

All the expansions of the company would get completed, in phases, between December 07 to March 08. Hence, FY 09 would be able to reap full benefits of expansions and hence the company would show a good growth of over 40% in FY 09 workings. .

Presently, the company is outsourcing its notebook, which would now be manufactured inhouse. Even, fresh infusion of funds would ease working capital pressure on the company. .

FY 07 of the company, did not see much growth in topline and bottomline. FY 07 total income was at Rs.455 crores against Rs.402 crores for FY 06 while PAT for FY 07 was at Rs.26.95 crores against Rs.25.12 crores of FY 06. This was not well received by the market. However, growth would be partly visible in FY 08 and to a great extent in FY 09.

The share is presently ruling at Rs.61, against its issue price of Rs.105 and book value of about Rs.55, as on 30-09-07. Considering an EPS of Rs.11, for FY 08, share is ruling at a PE of less than 6, which is about 4 times, if considered on FY 09 working.

Share can give about 30% return in the next 6 – 9 months, while downward risk is less than 10%. Even long term prospects of the company are good as this sector is traditionally enjoying a double digit PE multiples.

Source: www.sptulsian.com

Markets Today: Sensex closes above 19,000; Nifty above 5,600

It was an unbelievable run up in today's session with the momentum continuing in the markets and Sensex crossig the 19,000 level. It was a phenomenal day as Sensex saw the second highest single point day gain. Nifty did even better closing above 5650 levels. The ferrocity has been high and the gains were spread over broader markets as well. On Friday the markets took a breadther with Sensex dropping over 300 points but today it not only covered the loss but also went up scaling new peak.
The overall rally has been phenomenal as the bulls have got more heady pushing markets to new heights crossing some milestones in a very short span of time. The huge monetary flows and abundant liquidity continue to take markets at new peaks.
Haevyweights have nothched up further, metals were the top gainers in today's session. Some historic market caps were crossed by index pivitols.
ONGC's market capitalisation has hit Rs 2.5 lakh crore mark, it is the second company after Reliance to hit Rs 2.5 lakh crore mark. SAIL touched market capitalisation of 1 lakh crore.
Journey to 19,000:
SENSEX HITS 19,000
FASTEST EVER 1,000 POINT RALLY FOR SENSEX
TAKES 4 DAYS TO MOVE FROM 18,000 TO 19,000
CONTRIBUTION - RIL 153 PTS, ICICI BK 120 PTS, ONGC 119 PTS, L&T 108 PTS, BHARTI AIRTEL 96 PTS
TOP 5 STOCKS CONTRIBUTED 60% OF RALLY FROM 18K TO 19K
Sensex: Road to 19 K
19,000 Oct 15, 2007
18,000 Oct 9, 2007
17,000 Sep 26, 2007
16,000 Sep 19, 2007
15,000 July 6, 2007
14,000 Dec 5, 2006
13,000 Oct 30, 2006
12,000 Apr 20, 2006
11,000 Mar 21, 2006
10,000 Feb 6, 2006
9,000 Nov 28, 2005
8,000 Sep 8, 2005
7,000 Jun 20t, 2005
6,000 Feb 11, 2000
5,000 Oct 8, 1999
The obvious question in front of us now is where are the markets headed and what are the experts saying now.
G Devanathan of Rare Enterprises is of the view, "One should not have any targets to the upside but the way the market has moved today there is some more gains to go. At the same time the point to note is this kind of incredible speed is also too difficult to sustain but as of now the trend is up in fact at every fall the market has been textured and it has reasserted its uptrend in a defining manner so as long as the markets are continuing to make new highs one should just follow the trend. "
Metal continue to rally up with Tata Steel, Sesa Goa, Sterlite Ind, Hindalco among the major gainers. Stelite Industies was up 15%, Reliance Energy up 14%, ONGC, GAIL each up over 9% and Siemens up 8%.
Sensex was up 639.63 points or 3.47% at 19058.67, and the Nifty up 242.15 points or 4.46% at 5670.40.
About 2010 shares have advanced, 964 shares declined, and 73 shares are unchanged.
The BSE Small Cap Index closed at 9,311.97 up 2.4%.
The BSE Midcap Index ended at 7,716.91 up 2.5%.
BSE Metal Index was up 9.5%; SAIL up 16%, Sterlite up 15%, Tata Steel up 7.5%.
BSE Oil & Gas Index was up 4.8%; ONGC up 9.4%, GAIL up 9%.
The BSE FMCG Index closed at 2,156.65 up 1%. Bata India, United Spirits up 8% each followed by ITC, Colgate.
The BSE Capital Goods Index was up 3% at 17,119.70. Thermax,Punj Lloyd, Siemens, AIA Engineering Areva T&D, Jyoti Structure, L&T, Reliance Infra up over 5% each.
The BSE Auto Index closed at 5,613.37 up 2%. Maruti, Ashok Leyland, Tube Investments, Apollo Tyres, Hind Motors, Cummins, Escorts were among the gainers.
The BSE IT Index closed at 4,712.43 up 0.5%. Mphasis, Wipro, Patni Computer, HCL Tech, Satyam ended higher.
The BSE Bankex was up 4% at 9,706.81. Axis Bank up 9%, Yes Bank, Kotak Mahindra, Karnataka Bank, SBI, HDFC Bank, Bank of Baroda closed higher. The NSE cash turnover was at Rs 19592.17 crore and the NSE F&O turnover was at Rs 76830.02 crore. The BSE cash turnover was Rs 10391.09 crore. Total market wide turnover was at Rs 106813.28 crore.

Source:moneycontrol.com

Intraday Calls for 15th October

Markets today may open flat to positive and remain positive with high volatility. A positive closing expected today.

Buy for Intraday:

New Listing CCCL (510) Can list arround 625-650 Buy for target of 700
Reliance Energy (1636) Target 1670-1690 SL 1625
Tata Power (1048) Target 1075-1090 SL 1040
RCOM (712) Target 725-735 SL 705
Unity Infra (704) Target 725-730 SL 695
UNITECH (338) Target 350 SL 335
Rolta India (624) Target 645 SL 618
NIIT Ltd. (122) Target 125-128 SL 120
Tele Data (65) Target 70 SL 63
Mercator Lines (93) Target 100 SL 90

Others: VLS Finance (26), Soma Textile (30), GE Shipping (382), Mastek (364), Sun Pharma Advanced Research (89).

Good Luck

Intraday Calls for 12th October

Market may open flat to positive and remain volatile. Keep eye on Reliance Group Stocks. Today is AGM and expects some good announcements from Reliance Ind. Global Markets are weak so Indian market also can be effect from that. Be very carefull and trade in small qty.

Buy for Intraday:

Koutons Retail (415) It can list around 500 levels and go up for 550+
HDIL (780) Target 800 SL 774
Orbit Corp (635) Target 650 SL 628
RCOM (740) Target 755 SL 730
TV Today (174) Target 180-185 SL 172
Power Grid (114) Target 118-120 SL 112
Sterlite Ind (822) Target 845-855 SL 810
Bombay Dyeing (702) Target 715-720 SL 695
NIIT Ltd. (123) Target 128 SL 121
RPL (176) Target 182-185 SL 174
GMR Infra (172) Target 180 SL 169
ITC (190) Target 195 SL 188
Visu International (16) Target 17-18 SL 15.50

Good Luck

Markets Today

It was yet another strong session for the markets despite IT stocks bleeding on account of weak guidance from Infosys. Despite a deep cut in technology market ended on anew high as buying was seen in oil & gas, auto, capital goods and realty stocks.
Sensex closed near 18,800 levels and Nifty closed above 5500 mark for the first time ever. IT & sugar stocks were sulking but rest of the markets continued to party with buying in scrips across sectors. Rest of the Asia also ended higher.
Buying is seen in on all dips which has helped markets to stay at the higher levels. Capital good stocks were trading firm with BHEL & L&T as top gainers followed by auto and realty stocks.
Selling pressure was seen in IT stocks as the markets have given thumbs down to Infosys second quarter numbers. The rupee is trading flat at 39.31 against the dollar. Infosys saw Q2 growth in rupee terms at 8.8%; dollar terms 10.1% in Q2.
Telecom stocks VSNL up 7%, MTNL up 6%, Reliance Communication was up over 3%. Metal stocks continue to attract buying Sterlite Ind was up 6% and Tata Steel is up 2%.
Sensex was up 155.82 points or 0.84% at 18814.07, and the Nifty up 83.40 points or 1.53% at 5524.85.
About 1477 shares have advanced, 1484 shares declined, and 84 shares are unchanged.
The BSE Small Cap Index closed at 9,120.38 up 1.1%.
The BSE Midcap Index ended at 7,590.60 up 1.4%.
The BSE FMCG Index closed at 2,183.79 up 2%. Bata India, GlaxoSmith Con, United Brewerie, ITC, United Spirits were among the gainers.
The BSE Metal Index closed at 14,832.64 up 3%. Jindal Steel, Sterlite Ind, Shree Precoated, Hindalco, SAIL, JSW Steel were among the gainers.
The BSE Capital Goods Index was up 3% at 17,088.00. AIA Engineering, Punj Lloyd, Reliance Infra, Alstom Projects, Gammon India, Areva T&D up over 5% each.
The BSE Auto Index closed at 5,603.85 up 3%. MRF, Mah and Mah, Exide Industrie, Escorts, Hind Motors were among the gainers.
The BSE IT Index closed at 4,766.72 down 5.6%. Tech Mahindra, Mphasis, HCL Tech, Satyam ended higher.
The BSE Bankex was up 2% at 9,570.79. Bank of India, Federal Bank, HDFC Bank, Bank of Baroda, ICICI Bank closed higher.
The BSE Oil and Gas Index closed at 10,725.65 up 2%. ONGC, Essar Oil, GAIL, Reliance Petro, Reliance Natura closed in green.
The NSE cash turnover was at Rs 15830.27 crore and the NSE F&O turnover was at Rs 72261.05 crore. The BSE cash turnover was Rs 10543.80 crore. Total market wide turnover was at Rs 98635.12 crore.

Source:moneycontrol.com

Intraday Calls for 11th October

Market will opens positive and remain positive and may touch 19000 level because of good infosys results. All tech IT stocks can do well today.

Buy for Intraday:

Orbit Corp. (615) Target 640 SL 610
RCOM (725) Target 735-740 SL 720
BHEL (2330) Target 2350-2375 SL 2320
ADLABS (650) Target 675 SL 645 (Short Term Target 750+)
Tech Mahindra (1442) Target 1460-1475 SL 1435
Ashco Industries (46.5) Target 50 SL 45
Triveni Eng (107) Target 112-115 SL 105
Dabur (107) Target 110-112 SL105
ITC (184) Target 188-190 SL 182
Ashapura Minechem (513) Target 525-530 SL 505


Others: Nagarjuna Fert., KPIT, Infosys, Wipro, Bombay Dyeing, Century Textile, Moser Baer.

Good Luck

GTC Industries: More realty than cigarettes

· GTC Industries is a Sanjay Dalmia group company engaged in manufacturing cigarettes with an installed capacity of 17,322 million cigarettes per annum.

· For FY 07, the total income of the company was placed at Rs.201.15 crores, PBT of Rs.27.65 crores and PAT of Rs.51.72 crores. The increase in PAT over PBT is due to tax refund of Rs.24.07 crores.

· The present equity of the company is at Rs.17.60 crores, of which 44.44% is held by the promoters, while balance is by the public.

· For June 07 quarter, total income was placed at Rs.47.14 crores, PBT of Rs.5.25 crores and PAT of Rs.3.95 crores giving an EPS of Rs.2.22.

· Sanjay Dalmia has been recently appointed as Chairman of the company while Anurag Dalmia as Vice Chairman.

· The net worth of the company became positive from FY 07, and hence the company was discharged as sick company, by BIFR, on 29-06-07.

· The concern is on the pending income-tax appeals, against the company, with Apellate Authorities, for I-Tax demand of Rs.762 crores and penalty of Rs.488 crores. However, management is confident of winning these appeals, as similar appeals have gone in company’s favour.

· The company has real estate, in the form of huge land, at Hyderabad, Vadodara and Mumbai and also have necessary exemption under Urban Land Ceiling Act for land in Maharashtra and Andhra Pradesh.

· The company intends to develop its Hyderabad Property in immediate future, either through joint development or alone. The company also has property at Vadodara which could also get unlocked either by development or outright sale.

· The company has two running plants in Mumbai, one at Vile Parle and another one at Chakala, commercial suburbs of Mumbai. The company may shift its operations of Vile Parle unit to Chakala and may develop Vile Parle property.

· Vile Parle property has developable area of about 15 lakh sq. ft. which could be developed as a commercial hub, as it is ideally located on S. V. Road. This property is valued at Rs.2,500 crores.

· All the properties of the company are valued at over Rs.3,000 crores, including Chakala property, which is about 2.5 acres, valued at close to Rs.300 crores.

· The company is debt free, net off cash and bank balance. This is a remarkable feat for the company, as it recently, came out of BIFR and is now debt free.

· The share of the company is ruling at Rs.270 which works into a market capitalization of Rs.475 crores. This kind of valuation gets attributed to its core business, due to some of the strong brands of cigarettes of the company. Realty valuation comes close to Rs.1,700 per share.

· Share is a good bet at Rs.270 levels, mainly considering its realty values, which would get unlocked, sooner or later. Investors having long term horizon, can buy the stock.

Source: sptulsian.com

Markets Today

It was a fabulous follow on session for the markets after yesterday's surge as they closed on a new life time high. There has been no stopping for the bulls as the Nifty saw a neat triple digit rally and the Sensex was up over 375 points. This uptrend was without any signs of weakness and closing near the highest points of the day. Abundant liquidity in Asia and specifically India has taken the markets to such heights. On the earnings front, results are largely expected to be inline with expectations. Most of the Asia closed with substantial gains but Europe is more or less flat in the opening.
All the key BSE indices are ended in green with significant gains. Capital goods, realty, oil & gas and metal stocks are leading from the front.
Top gainers on the Sensex are L&T, VSNL, Suzlon Energy & Reliance Petro are up over 6%, BHEL up 4%, Bharti Airtel up 3.81% followed by ACC, Reliance Energy and ONGC.
Top losers on the Sensex are Bajaj Auto, Ranbaxy, Nalco, HPCL, BPCL, Maruti Suzuki and HUL.
Capital goods stocks are leading the uptrend with index pivotal like L&T and BHEL up over 6% and 4% each respectively. The capital goods index is up 4%.
Sensex was up 378.01 points or 2.07% at 18658.25, and the Nifty up 114.20 points or 2.14% at 5441.45.
About 1456 shares have advanced, 1511 shares declined, and 75 shares are unchanged.
The BSE Small Cap Index closed at 9,022.75 up 0.5%.
The BSE Midcap Index ended at 7,484.36 up 1.2%.
The BSE FMCG Index closed at 2,148.05 up 2.8%. Tata Tea, Nestle, P and G, United Spirits were among the gainers.
The BSE Metal Index closed at 14,443.52 up 3%. Jindal Steel, Shree Precoated, Hindalco, SAIL, JSW Steel were among the gainers.
The BSE Capital Goods Index was up 4% at 16,631.35. Suzlon Energy, Punj Lloyd, Larsen, Triveni Engg, Praj Industries, Reliance Infra up over 5% each.
The BSE Auto Index closed at 5,456.93 up 0.5%. Apollo Tyres, Mah and Mah, Amtek Auto, Tata Motors, Escorts, Hero Honda were among the gainers.
The BSE IT Index closed at 5,049.00 up 3%. Tech Mahindra, Infosys, Mphasis, HCL Tech, Satyam ended higher.
The BSE Bankex was up 2% at 9,423.19. Bank of India, Axis Bank, Union Bank, Oriental Bank, ICICI Bank closed higher.
The BSE Oil and Gas Index closed at 10,550.55 up 1%. Reliance Petro, Reliance Natura, ONGC, Essar Oil, Petronet LNG closed in green.
The NSE cash turnover was at Rs 21218.50 crore and the NSE F&O turnover was at Rs 79786.18 crore. The BSE cash turnover was Rs 8510.97 crore. Total market wide turnover was at Rs 109515.65 crore.

Source: moneycontrol.com

Intraday Calls for 10th October

Market will open with gap up like 100-150 points up and remian positive but high volatility will be there.

Nifty Support 5200, 5160 Resistance 5390, 5500

Sensex Support 18000, Resistance 18500

Buy for Intraday:

Triveni Eng. (99) Target 115-120 SL 97

Balrampur Chini (71) Target 78-80 SL 69

Renuka Sugar (730) Target 760-775 SL 725

RCOM (706) Target 725 SL 700

IDEA (135.5) Target 140 SL 133

PFC (206) Target 212-215 SL 202

RPL (161) Target 165-168 SL 159

NTPC (217) Target 225 SL 215

KPIT Cummins (115) Target 120-125 SL 113

GMR Infra (167) Target 172-175 SL 165

Others: TTML, South Indian Bank, Indowind Energy, IGateGlobal, Patni Computers, HTMT Global.

Good Luck

Biggest day in Indian markets: Sensex above 18K

The markets made some historic moves today breaking the old records and made some new ones. It was truly the biggest day for Indian capital markets. The benchmark indices have outperformed the broader markets. After a dull start victory came in with Sensex hitting the 18,000 mark today. This came in as a surprise after the news that UPA, Left to meet again on US Nuke Deal on October 22.

It was absolute heady for the bulls making biggest intra day gains. Despite all the political turbulence which markets seem to be ignoring it and making new records by not just touching new highs but has registered some record gains on record high turnover.

Sensex logged biggest intra day absolute gains ever. Sensex was up nearly 800 points and Nifty surged over 250 points. Sensex saw gains of 1000 points from the day's low with the backdrop of political unceratinty.

Sensex not only hit the 18,000 mark but was well above that mark as the rally got stronger after yesterday's fall. The cushion was of 300 points and the Sensex pushed towards 18,300. Nifty has shown a surge of 350 points from the day's low moving towards 5350 mark. 20-25 points premium is seen in Nifty futures. All the BSE sector indices ended in green up over 2%.

18,000 JOURNEY
SENSEX TAKES 8 DAYS TO MOVE FROM 17,000 TO 18,000
CONTRIBUTION - RIL 185 PTS, INFOSYS 152 PTS, L&T 103 PTS
CONTRIBUTION - REL 104 PTS, TATA STEEL 42 PTS, REL COMM 93 PTS
CONTRIBUTION - BHARTI 69 PTS, BHEL 59 PTS, NTPC 39 PTS, SATYAM 33 PTS
TOP 5 STOCKS HAVE CONTRIBUTED TO 60% OF RALLY FROM 17,000 TO 18,000
FIIs HAVE INVESTED $3.54 BN IN CASH MARKET

Source: moneycontrol.com

Intraday Calls for 09th October

Market can open with downside and remain very volatile but any positive news in political front, A strong rally expected. I think that market may bouce back from intraday lower levels, But uncertainity will be there so keep wait & watch policy.

Sensex Support 17300, 17050 Resistance 17777

Nifty Support 5040, 5020 Resistance 5240

Buys for Intraday at lower levels:

RCOM (641)

VOLTAS (161)

Patni Computers (478)

Vakrangee Software (184)

I Gate Global (264)

RPL (150)

GMR Infra (159) Buy at every decline for short term target of 200+

HCC (163)

Sujana Tower (160)

Prithvi Info (248)

IDBI (133)

KS Oils (75)

Good Luck

Markets Today

The markets saw a sharp cut in today's session on account of political concerns looming large. They opened in positive taking cues from Asia but saw a sharp fall.
Some off the Asian markets which opened in green were off day's high and ended weak.
Sensex was down nearly 300 points or 2%. Broader markets have taken it on their chin and are the midcap and smallcap indices were down 4%. Breadth of the market was absolutely weak, with advance decline ratio at 1:10.
Sensex closed down 281.97 points or 1.59% at 17491.39, and the Nifty down 100.75 points or 1.94% at 5085.10.
About 621 shares have advanced, 2364 shares declined, and 56 shares are unchanged.
Heavy selling was witnessed across the sectors led by realty, metals and pharma.
Top gainers on the indices are Satyam, Bhel, TCS, Wipro, VSNL and HDFC Bank.
Top losers on the indices are are Reliance Energy, Ranbaxy, Zee Entertainment, Unitech ACC and Tata Steel.
The BSE Midcap Index ended at 7,211.60 down 3.6%.
The BSE Smallcap Index ended at 8,801.00 down 3.3%.
The BSE Bankex was down 2.6% at 8,984.86. Andhra Bank, Karnataka Bank, Kotak Mahindra, SBI, ICICI Bank, Yes Bank, Bank of India moved upwards.
The BSE Capital Goods Index was down 2% at 15,445.63. Bharat Elec, Praj Industries, Jyoti Structure, BEML, Triveni Eng, Gammon India closed lower.
The BSE Auto Index closed at 5,270.71 down 2%. TVS Motor, Ashok Leyland, Maruti Udyog, Apollo Tyres, Mah and Mah, Exide Industrie, Hero Honda closed lower.
The BSE Metal Index closed at 13,589.61 down 4%. Tata Steel, SAIL, Shree Precoated, Jindal Steel, Mah Seamless, Hindalco, JindalStainless closed lower.
The BSE FMCG Index closed at 2,089.61 down 1%. United Spirits, Bata India, United Brewerie, Colgate, HUL closed lower
BSE Oil and Gas Index closed at 9,797.65 down 3%. RNRL, Essar Oil, Petronet LNG, IOC, Reliance, Reliance Petro ended in red.
The BSE IT Index was up 0.6% at 4,770.31. Satyam, HCL Tech, Infosys, Patni Computer, Wipro, TCS closed higher
The BSE realty Index lost 3.6% at 9,283.22. Anant Raj Ind, Ansal Propertie, Unitech, Indiabulls Real, Omaxe closed lower.
The NSE cash turnover was at Rs 15985.52 crore and the NSE F&O turnover was at Rs 69842.2 crore. The BSE cash turnover was Rs 7210.25 crore. Total market wide turnover was at Rs 93037.97 crore.

Source: moneycontrol.com

Intraday Calls for 8th October

Market should open positive and may touch and cross 18 K in morning session because of strong global markets opening. But remains very volatile and if effected from political reasons than market can corrects from higher levels.

Nifty Support 5160 5100 Resistance 5260 5290
Sensex Support 17500, 17300 Resistance 18000

Buys for Intraday:

RCOM (645) Target 660+ SL 640
Bharti Airtel (993) Buy above 1000 for Target 1030 SL 990
BSEL Infra (64) Target 68-70 SL 62
Kalyani Steel (478) Target 500 SL 474
Tinplate (56) Target 60 SL 54
Advanta India (1065) Target 1090+ SL 1058
Tata Power (944) Target 965 SL 938
NIIT Ltd (131) Target 135+ SL 129
IFCI (85) Target 88-90 SL 84
Astral Poly (130) Target 138-140 SL 128

Others: Reliance Industries, Ispat Industries (32), GTC Industries (280), Prajay Eng (306), KS Oils (72.5), TTML (40.5).

Good Luck

Markets Today

The markets ended the week on a flat note with a negative bias after seeing a strong rally during the week. Sensex couldn't touch the 18k mark and is at a shouting distance of 18,000 mark. But on weekly basis Sensex saw good gains of over 2.5%.
Most of the BSE sector indices closed lower, even the broader markets were lacklustre.
Select heavies were like L&T, BHEL, Reliance and Bharti Airtel were supporting the markets at the lower levels. Buying was seen in select capital goods, telecom and oil & gas stocks.Selling pressure is seen in interest rate senstives like auto, bank and realty stocks. Even FMCG and IT stocks are trading at lower levels.
Reliance hit Rs 2,500 mark and Bharti Airtel hit Rs 1000 mark.
On the macroeconomic front, inflation came in higher at 3.42% versus 3.23%.
Power Grid got listed at Rs 85 versus issue price of Rs 52/share, debuting with market cap of Rs 39,000 crore and closed at around Rs 100 levels.
Sensex was down 3.78 points or 0.02% at 17773.36, and the Nifty down 22.80 points or 0.44% at 5185.85.
About 1071 shares have advanced, 1900 shares declined, and 69 shares are unchanged.
Top gainers on the Sensex were Larsen & BHEL up 6%, ABB up over 3.5%, Bharti up 4% and Reliance Comm up 2%.
Top losers on the Sensex were NTPC, Tata Motors, ITC, Hindalco, Wipro and TCS.
The BSE Midcap Index ended at 7,485.51 down 1.2%.
The BSE Smallcap Index ended at 9,101.87 down 0.44%.
The BSE Bankex was down 2.5% at 9,177.32. Union Bank, IOB, Kotak Mahindra, Allahabad Bank, Bank of Baroda moved downwards.
The BSE Capital Goods Index was up 3% at 15,725.25. L&T, Reliance Infra, Kirloskar Bros, Greaves Cotton, Jyoti Structure closed higher
The BSE Auto Index closed at 5,356.83 down 1%. Ashok Leyland, Hind Motors, Bharat Forge, Tata Motors, TVS Motor closed higher.
The BSE Metal Index closed at 14,122.36 down 2%. JSW Steel, Hindalco, Tata Steel, JindalStainless closed lower.
The BSE FMCG Index closed at 2,107.02 down 2%. Marico, Bata India, ITC, United Spirits, United Brewerie closed lower
BSE Oil and Gas Index closed up 1% at 10,109.80. Reliance, IOC, BPCL, HPCL ended in red.
The BSE IT Index was down 0.6% at 4,740.27. Satyam, HCL Tech, Infosys, Patni Computer, Wipro, TCS, Financial Tech closed higher.
The NSE cash turnover was at Rs 20212.79 crore and the NSE F&O turnover was at Rs 64188.48 crore. The BSE cash turnover was Rs 7756.15 crore. Total market wide turnover was at Rs 92157.42 crore.

Source:moneycontrol.com

Intraday Calls for 5th October

Market should open positive and may touch 18K in today's trade.

Nifty Support 5160 Resistance 5260, 5290
Sensex Support 17500, 17300 Resistance 18000

Buys for Intraday:

Power Grid (New Listing) It can list at 80-85 and Can go for 100-120
3I Infotech (152) Target 155-158 SL 150
TV Today (152) Target 158-160 SL 150
Alstom Projects (872) Target 895-900 SL 865
UNITECH (338) Target 355-360 SL 334
RCOM (638) Target 648-660 SL 632
GIPCL (95) Target 100+ SL 92
NTPC (227) Target 235 SL 225
HDIL (707) Target 725-735 SL 700
AMD Metaplast (49) Target 52-55 SL 47

Others: Reliance Ind, REL, RPL, KPIT, Hexaware, India Infoline, Paramount Com, Cipla.

Good Luck

Intraday Calls for 04th October

Market may open flat to nagetive but remain very volatile like yesterday and can touch 18k very soon.

Nifty Support 5160 and Resistance 5260
Sensex Support 17300 and Resistance 18000

Buys for intraday (Buy at decline):

Torrent Power (102) Target 105-108 SL 100
Triveni Eng (109) Target 115 SL 107
Renuka Sug (742) Target 755 SL 735
Lupin (609) Target 620-625 SL 605
Cipla (185) Target 190+ SL 182
RCOM (643) Target 660 SL 639 (Short Term Target 775 if cross 660)
GTL Infra (40) Target 42-44 SL 39
DLF (892) Target 825 SL 888
IVRCL (441) Target 450-455 SL 436
ITC (187) Target 195 SL 185

Others: Reliance (2400), Welspun Gujarat(300), Kulkarni Power(177), Everonn System(665), IDFC(155), PFC(207), Gallent Metal (18.40).

Good Luck

Markets Today

It was a eventful day for Indian markets as opened with bang but slipped in red taking the Sensex sub 17,300 levels but bounced back inching towards the 18,000 levels. Sensex graph was typically V shaped, closing near the high point of the day.
It was a historic day in rems of volume also with over Rs 130,000 crore. The cues from Asia were mixed and even Europe opened flat.
Asia ended mixed, Hang Seng is down over 1600 points from the day's high. Hang Seng was down over 2% as there have been talks of FIIs reducing their holdings in Hong Kong-listed Chinese firms.
Realty, IT, power, capital goods and oil & gas were among the top gainers. Selling pressure was seen in select pharma consumer durables and cement stocks. Broader markets underperformed the benchmark indices.
Top gainers on the Sensex were DLF, Infosys, HDFC, ICICI, Tata Power, Sterlite Ind, Suzlon Eergy, NTPC, Reliance Comm, Reliance Energy and Reliance.
Cipla, Ranbaxy, Ambuja Cements, SBI, Tata Steel, GAIL, MTNL were among the top losers.
Suzlon has bagged 150 MW order from DLF and the stock is up over 3%.
Sensex was up 518.42 points or 2.99% at 17847.04, and the Nifty up 141.85 points or 2.80% at 5210.80.
About 1221 shares have advanced, 1762 shares declined, and 52 shares are unchanged.
The BSE Small Cap Index closed at 9,108.70 down 0.8%.
The BSE Midcap Index ended at 7,540.54 up 0.2%.
The BSE FMCG Index closed at 2,157.31 up 0.3%. Marico, Tata Tea, Dabur India, Colgate closed in green.
The BSE Metal Index closed at 14,180.50 up 2%. Hindalco, Hind Zinc, Sesa Goa, Sterlite Ind, Jindal Steel were among the gainers.
The BSE Health Care Index was down 0.5% at 3,817.82. Orchid Chemical, Glenmark, Cipla, Sun Pharma closed higher.
The BSE Capital Goods Index was up 2.6% at 15,064.27. Greaves Cotton, BEML, Jyoti Structure, Reliance Infra, BHEL ended higher.
The BSE Auto Index closed at 5,399.60 up 1.6%. Tata Motors, Maruti Udyog, Bajaj Auto, Mah and Mah, Bharat Forge were among the gainers
The BSE IT Index closed at 4,790.90 up 4%. Infosys, TCS, I-Flex Solution, Tech Mahindra, Mphasis, HCL Tech ended higher.
The BSE Bankex was up 2% at 9,575.59. Karnataka Bank, Kotak Mahindra, ICICI Bank, Federal Bank Axis Bank, SBI, HDFC Bank closed higher.
The BSE Oil and Gas Index closed at 10,008.53 up 3.4%. Reliance, BPCL, IOC, ONGC closed in green
The NSE cash turnover was at Rs 24819.65 crore and the NSE F&O turnover was at Rs 105619 crore. The BSE cash turnover was Rs 10023.92 crore. Total market wide turnover was at Rs 140462.57 crore.

Intraday Calls for 3rd October

Market can open with a gap up but remain very volatile whole day. A strong rally expected.

Sensex Support 17200, 17040 and Resistance 17500
Nifty Support 5040, 5000 and Resistance 5090, 5120

Buys for Intraday:

RCOM (612) Target 630 SL 608
Tata Power (910) Target 925-935 SL 905
GMR Infra (179) Target 185
Renuka Sugar (730) Target 740-745 SL 725
NTPC (206) Target 212-215 SL 203
Aptech (407) Target 415-420 SL 404
Sel Manufacturing (118) Target 125 SL 115
GTL Infra (40.50) Target 43-45 SL 39
Divis Lab (1340) Target 1375 SL 1330
Binani Zinc (270) Target 285 SL 265
REL (1350) Target 1375-1390 SL 1340

Others: Agro Dutch, Surya Pharam, Usha Martin, Spentex Ltd., Mount Shivalik,

Good Luck

KPIT Cummins Target Rs. 178

KPIT Cummins Infosystems Ltd.
(Rs 120, FY09E - EPS Rs 10.9, P/E 11x, Target price: Rs. 178)

KPIT Cummins is the first Indian Company to receive Jaspar membership
KPIT Cummins Infosystems Ltd (KPIT), one of the premium members of AUTOSAR (Automotive Open System Architecture), has joined Jaspar (Japan Automotive Software Platform Architecture). Jaspar is a consortium of automotive manufacturers and suppliers working together to develop and establish a standard Japan Automotive Platform Architecture where as AUTOSAR is a partnership between these manufacturers and suppliers to develop and establish a de-facto open industry standard for automotive electrical/electronic architectures. KPIT is the first and the only Indian company which has become part of the Japan-based consortium. KPIT had recently began its partnership with Renesas for one of the largest outsourcing deals in Japan, in the area of semiconductors.
Jaspar:
Jaspar’s objective is to promote automotive software technology and to cut development costs by encouraging Japanese companies to collaboratively develop non-competitive technologies such as automotive LAN (Local Area Network) enabling technology, middleware and software platforms. Jaspar addresses the escalating need for efficient cars and the increasingly stringent legislations for car safety in Japan. As the density of in-vehicle electrical integration and networked systems increases, there is a growing need to develop non-competitive technology on a common platform, at a reduced cost. Car safety requires complex electronic components, which need to collaborate in harmony for safer and more reliable ride. Jaspar connects auto OEMs and suppliers to understand common problems faced by the industry and provide solution by combined efforts. The
consortium carries out activities concerning software and networks for electronic vehicle control systems including survey, research, technological development, specification development and activities related to intellectual properties.
Jaspar is responsible for defining uniform, interchangeable high-speed bus architecture for the Japanese car industry and aims to contribute technical support to international standardization of communication in the areas of auto & electronic software and contribute to the development of global standards, on the whole.
Advantages to KPIT through Jaspar membership:
Having received the membership, KPIT Cummins is able to use Jaspar specifications to develop tools in compliance with Jaspar standards for the Japanese automotive market. AUTOSAR standards would be modified by Jaspar to meet Japan car makers needs/domestic needs.
Jaspar membership enables access to technology development requirements of participating OEMs as well as preferential access to the outcome of the joint development and most importantly reduces the software development cost. KPIT is going to be benifitted getting access to these requirements.
KPIT’s position will further strengthen in Japan as it can enhance its contribution to the world of automotive electronics in Japan by deeper understanding of local market and existing customers. Over the years, KPIT Cummins has established a leadership position and domain expertise in automotive & semiconductor solutions, partnering with some of the major European, North American & Japanese OEMs and Tier-1s.
Business Outlook and Valuation:
KPIT Cummins has been able to build its presence both organically and inorganically in last few quarters. Growth visibility of the company continues to be strong with recent partnerships and inorganic initiatives coupled with strong ramp up in both Star and Non Star customers.
KPIT has demonstrated its ability to grow on the back of its strong focus on the automotive and semiconductor verticals. The Japanese market is strong in both these verticals. KPIT currently gets about 12% of its revenues from rest of the world (primarily Japan) and expects this to touch to about 20% till 2010. We believe that KPIT’s membership with Jaspar is an excellent platform where the company can both gain and contribute knowledge and expertise in the focused area of Automotive Electronics in the Japanese market. At the same time, KPIT has been able to reduce its dependence on Cummins, from 44% a year ago to 39% today.
However, on the margin front, concern still remains on account of appreciating rupee scenario. About 60% of the company’s revenues come from US making it susceptible to unfavorable rupee movements. KPIT has tried to create geographical diversification, and Europe now accounts for almost 30 per cent of its turnover, which has doubtless helped manage financial results in the face of dollar depreciation.
We expect KPIT’s revenue and net profit to grow at a CAGR of 28% and 25% respectively over FY07A-09E.
Year Ended FY07A FY08E FY09E
Net Sales (Rs Mn) 4637.0 5943.0 7689.5
EBITDA (Rs Mn) 707.8 965.1 1280.4
OPM% 15.3 16.2 16.7
Net Profit (Rs Mn) 504.8 654.1 829.9
EPS (Rs) 6.6 8.6 10.9
P/E (x) @ Rs 120 18.2 14.0 11.0

KPIT stock trades at a P/E of 14x FY08E and 11x FY09E. We continue to maintain a BUY on KPIT with our previous target price of Rs 178. At our target price the stock trades 20.7x and 16.3x EPS for FY08E & FY09E respectively (based on fully diluted equity of Rs 152.5 mn). We continue to maintain a BUY on KPIT with our previous target price of Rs 178.

Source:emkayshare.com

Markets Today

The markets ended in green with moderate gains on account of buying support from the host of energy stocks. Oil & gas, power were among the performers of the day.
The breadth was also positive as the midcap and smallcap indices have outperformed the benchmark indices. Oil & gas sstocks like ONGC, GAIL were up and power stocks like NTPC, Tata Power have surged. Pharma stocks were also trading smart on the bourses. ADAG group stocks like Reliance Capital surged yet another day.
IT stocks were under pressure due to ongoing appreciation in the rupee. Banking stocks were down on the speculation that RBI may hike CRR in near future. Select metal stocks were also down.
NTPC, ONGC, Reliance Communication, Tata Power and GAIL were among the major gainers on the indices.
SBI, BHEL, HCL Tech and ITC were among the top losers on the indices.
Select auto stocks recovered from its lows today on the back of good auto sales numbers in the month of September. Hero Honda's September sales was at 3.14 lakh units versus 2.4 lakh (MoM). Bajaj Auto sep sales was at 2.32 lk units vs 1.96 lk (MoM). Maruti and TVS has also announced good numbers today.
Sensex was up 37.52 points or 0.22% at 17328.62, and the Nifty up 47.60 points or 0.95% at 5068.95.
About 1740 shares have advanced, 1213 shares declined, and 80 shares are unchanged.
The BSE Small Cap Index closed at 9,184.52 up 1%.
The BSE Midcap Index ended at 7,528.64 up 1.4%.
The BSE FMCG Index closed at 2,151.10 down 0.5%. Nestle, Godrej Consumer, GlaxoSmith Con, United Brewerie, ITC closed in red.
The BSE Metal Index closed at 13,899.77 down 0.3%. Sterlite Ind, Sesa Goa, Tata Steel, SAIL, Hindalco, Shree Precoated were among the gainers.
The BSE Health Care Index was up 1.4% at 3,837.15. Divis Labs, Novartis India, Cipla, Biocon, Lupin closed higher.
The BSE Capital Goods Index flat at 14,688.96. Reliance Infra, Gammon India, Crompton Greave, BEML, Lakshmi Machine ended higher.
The BSE Auto Index closed at 5,316.33 down 0.3%. Hero Honda, Bajaj Auto, Tata Motors, Punj Tractors were among the losers.
The BSE IT Index closed at 4,598.11 down 0.6%. Tech Mahindra, TCS, Mphasis, HCL Tech ended lower.
The BSE Bankex was down 1% at 9,395.78. Axis Bank, SBI, HDFC Bank, Bank of India, Andhra Bank closed lower.
The BSE Oil and Gas Index closed at 9,682.59 up 1.3%. BPCL, GAIL, IOC, Essar Oil, ONGC closed in green
The NSE cash turnover was at Rs 17331.97 crore and the NSE F&O turnover was at Rs 61451.29 crore. The BSE cash turnover was Rs 7201.34 crore. Total market wide turnover was at Rs 85984.6 crore.

source:moneycontrol.com

Intraday Calls for 01st October

Market can take some rest here and may open positive but remain flat to positive.

Buys for intraday:

Bharati Shipyard (590)
Allied Digital (378)
Hindustan Zinc (812)
Balaji Telefilms (260)
Pioner Embro (148)
RPL (153)
GMR Infra (173)
Zee Entertainment (342)
REL (1205)
Visu International (17.50)
TTML (43)
Fert. & Chem (FACT) (28.85)

Good Luck