Stock Idea: CIPLA

The largest pharmaceutical company in the domestic market, with a 5.42% market share, ahead of Ranbaxy and GSK, Cipla has posted encouraging financial results for the year ended 31st March 2008.

The net sales of the company increased 18% at Rs.4,226.81 crore. Interest outgo increased from Rs.6.97 crore in FY07 to Rs.11.59 crore in FY08. PBT was up 4% at Rs.830.66 crore and PAT was up 6% at Rs.700.48 crore. On an equity of Rs.155.46 crore, the EPS is at Rs.9.01.

Employee cost increased by a whopping Rs.254.31 crore due to overall increase in manpower, salary revisions and change in Bonus Act. Operating margin was down at 23.06% and NPM was also down at 16.57%.
It had a whopping ‘other expenditure’ of Rs.1,041.23 crore and this was mainly on account of sales promotion/advertisement campaign and processing charges. The hi-profile advertising campaign on Cipla’s I-pill, “the morning after pill”, accounted for a large part of this expense.
Regarding the SEZ in Goa where Cipla was to set up its plans, on which the company had already invested Rs.200 crore, the project eventually got scrapped due to a petition filed by Meditab Specialities Pvt Ltd, developer of the SEZ. The case is still being pursued in the courts and it would require only a crystal ball to see and tell us what the future holds regarding the SEZ.

What does not require a crystal ball is that the company, for the current fiscal, has projected a growth between 12 -15%.

There is no doubt that Cipla is one of the bluest of the blue-blooded pharma companies listed on the Indian bourses today. There have some concerns regarding the various demand notices it has been receiving from the Supreme Court though the legal advisors to the company continue to maintain the opinion that the demand notices of the government are not tenable and sustainable.

Currently quoted at Rs.217, Cipla is a great pharma company. Hold on.

Intraday Calls for 30th April

Stock Markets India may open flat to positive but some profit booking can be seen at higher levels. A nagetive closing expected today.

Today's Intraday Pick:

SATYAM COMPUTER
REC
ADLABS FILMS
AKRUTI CITY
PNB
SAIL
For Levels and Targets download the file by CLICK HERE.

Short Term Delivery Buy RAYMOND LTD. (280) Target 325+.

Good Luck

Intraday Calls for 29th April

Indian Stock Markets remains positive for the day today but with very high volatility as RBI will announce monetary policy today.

Today's Intraday Picks:

GUJARAT NRE COKE
INDIA INFOLINE
FUTURE CAPITAL (FCH)
CIPLA
MUNDRA PORT
BAJAJ HIND

For Levels and Targets download the file by CLICK HERE.
Others: RNRL, CEAT.
Short Term Delivery Buy CEAT (133) Target 160+.
Good Luck

Intraday Calls for 28th April

A flat to positive opening and then some profit booking expected in Stock Market India today..

Today's Intraday Picks:
HCC
RNRL
India Cement
REL
HDIL
IBREALEST
For Levels and Targets Download the file by CLICK HERE.

Good Luck

Intraday Calls for 25th April

Today Indian Stock Market may open flat to positive and remains same for the day today. Markets may see a small rally but with very high volatility.

Today's Intraday Picks:

INDIABULLS
HERO HONDA
BHARTI AIRTEL
SRF LTD
JP ASSOCIATES
TRIVENI

For levels and targets download the file by CLICK HERE.
*Hold Cosmo Films.
Good Luck

Intraday Calls for 24th April

Market may remains positive throughout the day but very volatile as it's expiry day.

Trading Picks:

Bajaj Hindustan
GMR Infra
Gujarat NRE Coke
SAIL
Satyam Computer
Omaxe Ltd.

For Levels and Targets download the file by CLICK HERE.

Short-Med Term Delivery Buy COSMO FILMS (105) for Target 150+.
Good Luck

Markets Today

Market finished lower in volatile trade today snapping its six-day winning streak dragged by banking, capital goods and select blue-chip stocks. However real estate and IT stocks cushioned sharp fall.
Most Asian and European markets were trading higher today. However, US markets had settled lower yesterday, 22 April 2008. After opening on a firm note the market slipped in the red in mid-morning trade. It staged a strong rebound from lower level in mid-afternoon trade, only to slide again later.
The 30-share BSE Sensex was down 85.83 points or 0.51% at 16,698.04. It lost 194.42 points at days low of 16,589.45 hit in mid-morning trade. Sensex hit a high of 16,871.27 in early trade. At the days high, Sensex rose 87.40 points.
Prior to todays fall, the Sensex posted gains for the six straight sessions primarily due to healthy earnings and firm global markets. The 30-share BSE Sensex has gained 1088.77 points or 6.94% in six trading sessions from 15,695.10 on 10 March 2008 to 16,783.87 on 22 April 2008.
The broader based S&P CNX Nifty was down 26.50 points or 0.52% at 5,022.80. As per reports, Nifty rollover from April 2008 series to May 2008 series stood at 55% by Tuesday, 22 April 2008.
The total turnover on BSE amounted to Rs 6312 crore as compared to Rs 6,404.24 crore yesterday, 22 April 2008.
Turnover in NSEs futures & options segment amounted to Rs 52107.86 crore as compared to Rs 51643.74 crore yesterday, 22 April 2008.
The market breadth was positive. On BSE, 1420 shares advanced as compared to 1304 that declined. 59 remained unchanged. 17 shares from the 30-member Sensex pack declined.
The BSE Mid-Cap index was up 0.41% to 7,066.41 while the BSE Small-Cap index was up marginally by 0.02% to 8,799.86. Both these indices outperformed the Sensex
Sectoral indices on BSE displayed mixed trend. The BSE IT index (up 1.33% to 3,982.85), the BSE Auto (up 0.73% at 4,579.55), the BSE Health Care index (down 0.05% at 4,189.99), the BSE Metal index (up 0.12% to 15,548.10), the BSE TecK index (up 0.42% to 3,277.01), the BSE Realty index (up 1.90% at 8,056.17), the BSE FMCG index (down 0.37% at 2,372.14), the BSE Power (down 0.55% to 3,299.90), outperformed the Sensex
The BSE Bankex (down 1.89% at 8,552.46), the BSE Capital Goods index (down 1.13% at 13,770.97), the BSE Consumer Durables index (down 1.25% to 4,377.21), the BSE PSU index (down 1.55% to 7,843.75), and the BSE Oil & Gas index (down 0.82% to 11,382.82), underperformed the Sensex
Banking shares were weak throughout the day. HDFC Bank, the countrys second largest private sector bank in terms of net profit slipped 3.20% to Rs 1440 on 75,330 shares. It was the top loser from Sensex pack.
Indias largest private sector bank in terms of net profit ICICI Bank slipped 1.75% to Rs 867 on 9.25 lakh shares. It recovered from days low of Rs 845.35
State Bank of India, the countrys largest commetcial bank in terms of assets, slipped 2.14% to Rs 1,695.05 after its Chairman O.P. Bhatt today said the bank is making a provision of $10 million towards mark-to-market losses due to the subprime crisis overseas. Bhatt also said the bank's customers' exposure to foreign exchange derivative losses could be between Rs 600-700 crore ($150-175 million), which would be accounted for on customers' books.
Indias largest private sector company in terms of market capitalisation and oil refiner Reliance Industries (RIL) fell 1.38% to Rs 2,571.35 on 8.24 lakh shares. The stock moved in a range of 2566.25 and Rs 2632.75 during the day. RIL said on Tuesday it had formed a joint venture with Office Depot to provide office products and services in India. The two firms have also acquired eOfficePlanet, an Indian office products and services dealer, to accelerate the rollout of the joint venture.
Indias biggest dam builder Jaiprakash Associates was down 1.24% to Rs 242.60 on volumes of 31.53 lakh shares. The stock moved in a range of Rs 238.50 and Rs 252.
Bharat Heavy Electricals (down 2.71% to Rs 1821), Ranbaxy Laboratories (down 1.92% to Rs 477.80), and Bharti Airtel (down 1.43% to Rs 844.05), edged lower from Sensex pack.
ACC, the country's second largest cement manufacturer in terms of sales, surged 3.43% to Rs 847.50 on 1.28 lakh shares ahead of its March 2008 quarterly results on Thursday, 24 April 2008. It was the top gainer from Sensex pack.
India's top small car maker Maruti Suzuki India gained 1.39% to Rs 764.80 ahead of its March 2008 quarterly results on Thursday, 24 April 2008.
IT pivotals gained on fresh buying. Wipro (up 3.32% to Rs 445), TCS (up 0.45% to Rs 891) and Infosys (up 3.38% to Rs 1653) advanced. However, Indias fourth largest software services exporter Satyam Computer Services slipped 1.23% to Rs 430.50, off its days low of Rs 422.
Indias largest FMCG company in terms of sales Hindustan Unilever advanced 1.51% to Rs 241.50. The company will unveil its Q1 March 2008 results on 28 April 2008.
Real estate shares advanced on fresh buying. DLF (up 1.59% to Rs 684.90), Unitech (up 2.05% to Rs 286.25), Akruti City (up 2.28% to Rs 1,115), Omaxe (up 4.15% to Rs 233.20), and Purvankara Projects (up 6.40% to Rs 295.20), advanced.
Indias largest private steel maker in terms of sales, Tata Steel staged a sharp recovery from days low of Rs 757 to settle 1.55% higher at Rs 793. The stock rose after Anglo-Dutch steelmaker Corus, owned by the company, announced price increases for reversing mill plate and structural sections. The announcement is a stark contrast to Tata Steels earlier announcement of holding the domestic steel prices. Reportedly, Corus will be increasing basis prices for reversing mill plate by 60 per tonne effective to all dispatches from 1 June 2008.
Reliance Petroleum was the top traded counter on BSE with turnover of Rs 277 crore followed by IFCI (Rs 259.70 crore), Reliance Industries (Rs 214.25 crore), Reliance Natural Resources (Rs 214 crore) and Reliance Capital (Rs 167.30 crore) in that order.
IFCI led the volumes charts clocking volumes of 4.20 crore shares followed by Ispat Industries (2.74 crore shares), Reliance Natural Resources (1.80 crore shares), Indiabulls Securities (1.50 crore shares) and Tata Teleservices (Maharashtra) (1.44 crore shares) in that order.
Wockhardt (up 0.68% to Rs 303.90), Lupin (up 1.72% to Rs 551.50), Cadila Healthcare (up 2.76% to Rs 281) and Alembic (up 0.99% to Rs 61.20) gained despite reports the drug price regulator will initiate prosecution proceedings against four pharmaceutical companies for selling select brands without getting their prices approved by the regulator.
Among the side counters, Blue Dart Express (up 20% to Rs 661.90), Castrol India (up 18.19% to Rs 292), Indian Tonners (up 19.95% to Rs 24.05), National Oxygen (up 19.93% to Rs 53.25) and Arvind Mills (up 15.22% to Rs 56.40), surged.
However Bihar Caustic (down 9.46% to Rs 82.30), Eastern Silk Mills (down 13.64% to Rs 180.50), and Usher Agro (down 8.44% to Rs 179.65), declined
Among the news based stocks, Century Plyboards India gained 1.75% to Rs 725 on reports it has acquired Chennai based Sharon Plywoods and Karnal based Century Panels.
Indiabulls Real Estate rose 2.12% to Rs 511.80 on reports its subsidiary Citra Developers has acquired 134 acres of land at Kalyan near Mumbai for Rs 676 crore. Indiabulls plans to build an integrated on the land, reports added.
Educomp Solutions slipped 3.75% to Rs 3980 despite posting 65.45% surge in net profit to Rs 31.47 crore on 54.41% growth in total income to Rs 119.53 crore in Q4 March 2008 over Q3 December 2007. The company announced the results during trading hours today, 23 April 2008.
Deccan Aviation fell 3.37% to Rs 143.35 after posting net loss of Rs 199.65 crore in Q3 March 2008 as compared to net loss of Rs 213.17 crore in Q3 March 2007. Deccan Aviations net sales rose 27.4% to Rs 557.61 crore in Q3 March 2008 over Q3 March 2007. The company announced the result.

From: Capital Market

Intraday Calls for 23rd April

Today's Intraday Picks (Buy):

Gujarat NRE Coke (167) Target 172-175 SL 165
Petronet LNG (82) Target 84-86 SL 81
Prithvi Info (174) Target 178-180 SL 172

Good Luck

Markets Today

The market extend its rally for sixth straight session today led by real estate, cement and capital goods stocks. However, IT shares faltered after TCS earnings disappointed. The market breadth was positive. Cement and realty shares gained on fresh buying. Recovery in some Asian markets triggered a sharp pull-back from days lows in afternoon trade.
Asian markets, which opened before Indian market, were in the red at the onset of the trading session after disappointing results posted by Bank of America Corp, the largest US retail bank, kept concerns about the fallout of the global credit crisis alive. However, markets in Hong Kong, China and Singapore recovered later. European markets, which opened after Indian markets, were in green.
The 30-share BSE Sensex was up 44.54 points or 0.27% at 16,783.87. Sensex gained 114.63 points at days high of 16,853.96 hit in early-afternoon trade. It opened with 52.78 points lower at 16,686.55 and slipped further to touch a low of 16,597.53 in early trade. At the days low, the Sensex lost 141.80 points.
The broader based S&P CNX Nifty was up 12.30 points or 0.24% at 5,049.30. Nifty April 2008 futures were at 5048, a slight discount of 1.30 points as compared to spot closing.
Market may turn volatile in coming days ahead of the expiry of April 2008 derivative series on Thursday, 24 April 2008. As per reports, Nifty rollover from April 2008 series to May 2008 series stood at 34% while marketwide rollover was 15%, as on Monday, 21 April 2008.
Indian stock market posted gains for the sixth straight session today, 22 April 2008, primarily due to healthy earnings and firm global markets. The 30-share BSE Sensex gained 1088.77 points or 6.94% from 15,695.10 on 10 March 2008.
The BSE Mid-Cap index was up 0.78% to 7,037.62 and the BSE Small-Cap index advanced 0.52% to 8,798.08. Both these indices outperformed the Sensex.
The market breadth was positive on BSE with 1563 shares advancing as compared to 1127 that declined. 57 remained unchanged.
The total turnover on BSE amounted to Rs 6,125 crore as compared to Rs 5,883.10 crore yesterday, 21 April 2008
Turnover in NSEs futures & options segment amounted to Rs 51643.74 crore as compared to Rs 40635.23 crore yesterday, 21 April 2008
Sectoral indices on BSE displayed mixed trend. The BSE Bankex (up 1.59% at 8,716.83), the BSE Health Care index (up 0.74% at 4,192.26), the BSE Metal index (up 2.07% to 15,529.38), the BSE Capital Goods index (up 1.90% at 13,928.71), the BSE FMCG index (up 0.63% at 2,380.94), the BSE Realty index (up 3% at 7,906.14), the BSE Power (up 1.12% to 3,318.13), the BSE Consumer Durables index (up 1.75% to 4,432.75), and the BSE PSU index (up 0.87% to 7,967.56), outperformed the Sensex
The BSE IT index (down 4.32% to 3,930.47), the BSE Auto (down 0.04% at 4,546.21), the BSE TecK index (down 2.40% to 3,263.43), and the BSE Oil & Gas index (down 0.34% to 11,477.39), underperformed the Sensex.
Among the Sensex pack, 18 advanced while the rest declined.
IT pivotals tumbled after Indias largest software services exporter TCS was downgraded by foreign brokerages after its earnings disappointed. TCS slumped 10.94% to Rs 884 on 8 lakh shares after the company reported 5.95% fall in net profit to Rs 1108.81 crore on 2.23% rise in net sales to Rs 4942.49 crore in Q4 March 2008 over Q3 December 2007. The results were announced after trading hours on Monday, 21 April 2008. It was the top loser from Sensex pack.
Other IT pivotals were not spared either. Infosys (down 2.42% to Rs 1605.30), Wipro (down 4.11% to Rs 435), and Satyam Computer Services (down 5.44% to Rs 434), slipped
Indias largest private sector company in terms of market capitalisation and oil refiner Reliance Industries was down 1.55% of Rs 2601.30 despite posting 24% rise in net profit to Rs 3912 crore on 36.27growth in total income to Rs 37575 crore in Q4 March 2008 over Q4 March 2007. Reliance Industries (RIL)s gross refining margin (GRM) increased to $15.5 per barrel in Q4 March 2008 as compared to $13 a barrel in Q4 March 2007. The company announced the results after trading hours on Monday, 21 April 2008.
Indias top pharma company in terms of sales, Ranbaxy Laboratories slipped 2.80% to Rs 485 after the company entered into strategic business alliance with Orchid Chemicals & Pharmaceuticals involving multiple geographies and therapies for both finished dosage formulations and active pharmaceutical ingredients. Orchid Chemicals & Pharmaceuticals shares slipped 1.44% to Rs 245.80
Grasim (down 1.85% to Rs 2595), and Mahindra & Mahindra (down 1.59% to Rs 629.05), edged lower from Sensex pack.
Indias biggest dam builder Jaiprakash Associates surged 6% to Rs 247 on 51.36 lakh shares. It was the top gainer from Sensex pack
Bharat Heavy Electricals, the countrys largest state run engineering company in terms of outstanding order book position gained 5.84% to Rs 1877 on reports the company has won orders worth around Rs 2030 crore for supply and installation of the main plan package at Nabinagar thermal power plant project in Bihar.
Oil and Natural Gas Corporation, the country's largest oil exploration company in terms of market capitalisation, rose 2.06% to Rs 1051 despite the Income Tax department slapping a Rs 1,768.49 crore claim on the company for giving discounts on crude to public sector oilmarketing companies under orders from the government.
Shares from real estate sector advanced on fresh buying. DLF (up 3.49% to Rs 674), Indiabulls Real Estate (up 1.67% to Rs 503.90), Unitech (up 4.91% to Rs 280.90), Purvankara Projects (up 6.05% to Rs 277), and Ansal Infrastructures (up 10.56% to Rs 165.60), also surged.
Cement shares gained on fresh buying. ACC (up 2.46% to Rs 820), Binani Cement (up 5.58% to Rs 86.05), UltraTech Cement Company (up 6.20% to Rs 820), India Cements (up 3.35% to Rs 193), advanced
As per reports, cement demand outlook this fiscal remains healthy, driven by rising investment in construction and real estate sectors. Cement prices are expected to stay firm in 2008-09 as growth in production will be marginally outstripped by demand growth. Cement production may grow by 11.5% and cement consumption by 12% during 2008-09.
HDFC (up 3.86% to Rs 2580), HDFC Bank (up 3.10% to Rs 1490), and Larsen & Toubro (up 2.69% to Rs 2922) edged higher from Sensex pack.
Kiri Dyes and Chemicals settled with 5.7% premium on debut at Rs 158.55 on BSE compared to IPO price of Rs 150. The stock debuted at Rs 151 a premium of 0.06% over initial price offer (IPO) of Rs 150. On BSE, 35.10 lakh shares were traded in the counter.
Among the stocks with high volumes, IFCI surged 17.70% to Rs 59.85 on 3.45 crore shares. Reliance Natural Resources gained 7.02% to Rs 118.20 on 2.71 crore shares. Ispat Industries advanced 8.10% to Rs 36.70 on 3.27 crore shares. Tata Teleservices (Maharashtra) gained 6.91% to Rs 36.35 on 1.43 crore shares. Nagarjuna Fertilisers & Chemicals rose 2.55% to Rs 50.25 on 93 lakh shares.
Orchid Chemicals topped the turnover charts clocking turnover of Rs 355.30 crore followed by Reliance Natural Resources (Rs 314 crore), Reliance Industries (Rs 220.70 crore), Kiri Dyes (Rs 212.70 crore) and IFCI (Rs 193.50 crore) in that order.
PSL gained 3.12% to Rs 316 after the company said it has secured two orders worth Rs 1,225 crore from Larsen & Toubro and HPCL-Mittal for laying pipelines.
Everest Kanto Cylinder gained 1.87% to Rs 307.70 after the company said it has successfully completed the acquisition of all the assets of CP Industries, Inc. United States for $66.3 million.
Shyam Telecom jumped 10% to Rs 109.45 on reports it is in advanced talks with Reliance Telecom Infrastructure, for first active infrastructure sharing arrangement in the country.
United Spirits declined 5.18% to Rs 1,665 even as the company reported 21.7% rise in net profit to Rs 65.11 crore in on 16.5% rise in net sales to Rs 758.98 crore.

From: CapitalMarket

Investment Idea: Noida Toll

The company has posted excellent results for FY08. YoY, the company’s net sales rose 41% at Rs.66.39 crore. EBIDTA was up 9% at Rs.40.35 crore. OPM was down from 78.56% in FY07 to 60.78% in FY08. But the company had no interest outgo and this helped boost the bottomlines dramatically, PBT was up by a whopping 185% at Rs.31.72 crore and PAT was up 153% at Rs.27.98 crore. NPM rose from 23.48% to 42.14%. The growth in income has outpaced the growth in traffic due to an annual revision in toll rates and an increase in other operational income

On an equity of Rs.186.19 crore, the company posted an EPS of Rs.1.50 as against 59 paise in FY07.

As we had mentioned earlier, the first phase of Mayur Vihar Project commenced in July 2006 and was opened to the public on 15th June, 2007. Work on the second phase of the project has been completed and opened to the public on January 19th, 2008. And this opening up of the bridges on both the sides has given a major boost to the bottomlines of the company in Q4. The full effect of this would obviously be reflected in the current fiscal.

The one big grouse which its shareholders have is that the company has not yet declared a dividend. And replying to that, the company has stated that the company intends to recommend the commencement of payment of dividends once the profitability of the company is established.

The company’s biggest asset is its land bank of 235 acres on either side of the bridge – 200 acres on Delhi side and 35 acres on Noida side. In 2002, it was valued at RS. 350 crore and presently, its worth is Rs. 1,500 crore. The company is awaiting permissions to start development. Once that happens, this land bank will be its milch cow.

Buy Noida Toll at the current price of Rs.50.

Source: Sptulsian.com

Intraday Calls for 22nd April

Indian Stock Market may open flat to positive but may see some profit booking today. A flat to negative closing expected.

Today's Intraday Picks:

SATYAM COMPUTER

GVK POWER
NTPC
TORRENT POWER
ZEE TV

BIOCON

For Levels and Targets download the file by CLICK HERE.

Others: Inox Leisure, Great Offshore.

Good Luck

Investment Idea: Rallis India Ltd.

Rallis India Limited, a Tata group company and a leading agrochemical player in India, announced excellent financial performance for the year ended 31st March 2008.

YoY, the net sales of the company rose by just 8% at Rs.692.16 crore. This is probably one of the rare companies to post a fall in its total expenses, which actually come down by 12% and this too helped the bottomlines substantially. EBIDTA was up by a whopping 70% at Rs.164.90 crore. PBT rose 1.65 times at Rs.146.18 crore. OPM was up from 15.07% to 23.82%. The company’s taxation shot up by over 6 times to Rs.20.98 crore and this did not dent the PAT much, which was infact up by a whopping 115% at Rs.125.19 crore. NPM doubled from 9.04% to 18.09%.

On an equity of Rs.11.99 crore, the EPS, on a face value of Rs.10 per share, stood at Rs.98.02. The company declared a very generous dividend of 180% as against 80% last year.

Its superlative performance during the year has been driven by significant improvements in the operations. The company has also earned an exceptional income of Rs 87.38 crore in FY08 as against Rs. 54.12 crore in FY07. While it has benefited from the exceptional income, the operational improvement has contributed significantly to its profit growth. The performance of the company has been driven by the higher volumes of its key brands. Its recently launched brand Applaud has performed extremely well in the rice areas across the country and has become the number one choice of rice growers for control of Brown Plant Hoppers. The company launched four new products in the Indian market during the year namely Takumi, Sedna, Royal and Ishaan. It has obtained more than 20 new registrations in different countries across the globe. The company also obtained a joint registration for one of its key product in the US market during the year. Disha, the enterprise value creation programme and Apollo, the initiative to drive international business growth contributed well to the year’s performance.

Currently quoted at Rs.460, Rallis is a very good stock, stay invested. One can also invest for long term on declines.

Source: Sptulsian.com

Intraday Calls for 16th April

Indian Stock Market may open positive. Nifty can touch 5000 levels today.

Today's Intraday Picks:

ROLTA
PFC
PETRONET LNG
IOC
SATYAM COMPUTER
MPHASIS

For Levels and Targets download the file by CLICK HERE.

Results Today: AUTOMO COR G BASF INDIA BIO WHGO IND BRESCON CORP
FULFORD IND FUTURISTIC S IND MER BANK INNOCORP L MERCK LTD MINDTREE
NDTV LTD. PETRONET LNG POWER FINAN SUDAL INDUST TCFC FINANCE
TUTI CORIN TYPHOON HOLD VICTORIA MIL
Good Luck

Intraday Calls for 15th April

Markets may open with flat to positive but remains volatile and rangebound throughout the day.

Today's Intraday Picks: (Buy at decline):

RCOM
GMR INFRA
HIND OIL EXPLORATION
PETRONET LNG
PRITHVI INFO

Today's Important event is INFOSYS RESULTS.

Good Luck
Today's Results: ANKU DR PH AUTOMAT AXLE AZTECSOFT L BARODA EXTR.
CHOIC NTERN DEEP INDS ELANTAS HCL TECHNO INFOSYS TECH JAY BHAR MAR
JAYPEE HOTEL NAKODA TEXT NALIN LEA FI NETTLINX LTD RALLI INDIA
REL INDL INF SANWAR AG OI SHILP GRAVUE UPSURGE INVS ZEE ENTER ZEE NEWS

NOTE: This blog will not be updated from 16th March to 21st March.

Stock Ideas: Steel Strips Wheels Ltd.

A part of the Steel Strips group, the company manufactures the steel rims which come around the wheels of automobiles. It supplies to Maruti, Mahindra & Mahindra and Bajaj Tempo.

The company has posted its results for the year ended 31st March 2008. In real terms, the company has shown an improvement but a look at the margins indicates that there has been some pressure. YoY, the net sales rose 31% at Rs.259.64 crore. The company’s operating expense rose 32% and though the EBIDTA rose 24% at Rs.49.42 crore, its OPM was down from 20.12% to 19.03%. PBT was up 17% at Rs.23.36 crore and PAT rose 22% at Rs.12.56 crore. NPM was also down marginally at 6.57% from 7.07% last fiscal.

The company’s future growth path looks good. It is setting up a new plant for manufacturing wheels rims for passenger cars and multi utility vehicles near Chennai in Tamil Nadu, with an initial capacity of 3 millions wheel rims p.a. This is likely to start trial production in 1st quarter of year 2008-09.

The company’s focus is expected to be exports and it has already started going ahead in that direction. In April 2008, Renault of France, one of the largest manufacturer of cars in Europe and the leading manufacturer of light commercial vehicles, has given an export order to the company for supply of approx 1 million steel wheel rims over 5 years, valued at approx Rs.110 crore. This export order is for one of their new vehicles to be produced in Europe.

Prior to this, PSA Peugeot Citroen, Europe's number two automotive manufacturer had given another export order for the supply of over 70,000 steel wheel rims for their existing passenger car model, valued over Rs 4.50 crore p.a This is the second order from them, they had already placed another order for 13,75,000 steel wheel rims, valued at over Rs 75 crore.

The company expects its exports to grow over 200% in FY 08-09 and hopes to cross export of 4,25,000 wheels rims in the current fiscal. The rising cost of steel is sure to hike up its operating costs this fiscal too but surely, it will be able to pass it on to the consumers.
Quoted at Rs.170, stay invested.

Source: Sptulsian.com

Markets Today

Rally in index heavyweight Reliance Industries led rally on the bourses today. Improved Index of Industrial Production (IIP) data aided the surge. Firm Asian and European markets also boosted the sentiment. However, Infosys slipped ahead its Q4 March 2008 results due on 15 April 2008.
Power and capital goods stocks rose. IT stocks were mixed. Banking stocks rose. Bharat Heavy Electricals and Larsen & Toubro were major gainers from Sensex pack. Ambuja Cements and Infosys were major losers from Sensex pack. The market breadth was strong.
Asian stocks rose today, 11 April 2008, after Banc of America Securities upgraded the US semiconductor sector and Wal-Mart Stores Inc, the world's largest retailer, raised its profit forecast. Key benchmark indices in Hong Kong, Japan, China, South Korea, Singapore, and Taiwan were up by between 0.61% to 2.92%. European markets which opened after Indian markets were firm. Frances CAC 40, Germanys DAX and UKs FTSE 100 rose in between 0.69% to 1.15%.
India's industrial output (IIP) rose 8.6% in February 2008 from a year earlier, rising from the previous month's upwardly revised 5.8% growth, data showed today.
The wholesale price index rose 7.41% in 12 months to 29 March 2008, accelerating from the previous week's annual rise of 7%, government data showed today, 11 April 2008. The data was announced at about 10:45 IST. The rate is the highest reading since 13 November 2004 when it was 7.68%. The annual inflation rate was 5.94% during the corresponding week of the previous year.
The 30-share BSE Sensex provisionally ended up 121.88 points or 0.78% at 15,816.98. The Sensex gained 262.14 points at days high of 15,957.24, hit in early afternoon trade. At the days low of 15673.67 Sensex lost 21.43 points in mid-morning trade.
The BSE clocked a turnover of Rs 5556 crore today, 11 April 2008 as compared to turnover of Rs 5,519.49 crore on 10 April 2008.
The S&P CNX Nifty was up 52.25 points or 1.1% at 4785.25 as per provisional figures.
The BSE Mid-Cap index was up 0.62% at 6,519.09 and the BSE Small-Cap index was up 0.59% at 8,078.78.
The market breadth was strong: on BSE, 1634 stocks gained, 1055 stocks declined and 59 stocks were unchanged.
Indias largest private sector firm by market capitalization and oil refiner Reliance Industries rose 3.34% at Rs 2,550.05. Reportedly, Reliance is in talks with several oil majors to sell up to 10% in its deep-water D6 block off India's east coast.
IT stocks were mixed on the penultimate trading session ahead of Infosys annual guidance on Tuesday 15 April 2008. Infosys, Indias second largest IT exporter by sales, declined 1.96% to Rs 1,424.95. Tata Consultancy Services (up 0.69% to Rs 907) and Satyam Computer Services (up 2.96% to Rs 436 ), rose.
Banking stocks were mixed after higher inflation data. Indias largest private sector bank by operating income ICICI Bank declined 1.71% to Rs 787.25. It came off from its high of Rs 822. However, State Bank of India (up 0.2% to Rs 1,665.10) and HDFC Bank (up 0.34% to Rs 1,330) edged higher.
Capital goods stocks rose. Larsen & Toubro (up 3.65% to Rs 2,776), Bharat Heavy Electricals (up 3.67% to Rs 1,830) and Suzlon Energy (up 0.22% to Rs 290.35) edged higher.
Power stocks rose. Tata Power Company (up 3.95% to Rs 1,247.05) and Reliance Power (up 0.82% to Rs 361.35), NTPC (up 0.27% to Rs 186.50) edged higher. India's second largest power utility by revenue Reliance Energy rose 2.22% to Rs 1,281.15 after the company said on 10 April 2008 it has spent about a third of the Rs 800 crore ($200 million) allocated for buying back shares from the stock market.
Oil & Gas stocks rose. Cairn India (up 4.38% to Rs 252.75), Gail India (up 4.24% to Rs 445), Reliance Petroleum (up 3.68% to Rs 181.95) edged higher.
Hindalco Industries (up 1.67% to Rs 176.35), Reliance Communications (up 1.83% to Rs 493.25), Bharti Airtel (up 0.69% to Rs 804.20), Mahindra & Mahindra (up 1.31% to Rs 620.25) , Tata Steel (up 0.92% to Rs 692.20) edged higher from the Sensex pack.
Ranbaxy Laboratories (down 1.58% to Rs 443.55), Grasim Industries (down 0.78% to Rs 2,550), Hindustan Unilever (down 2.02% to Rs 235.15) , ITC (down 1.83% to Rs 204.15) and Ambuja Cements (down 3.61% to Rs 117.60), ACC (down 0.05% to Rs 813.20) edged lower from Sensex pack.
The near term trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt. As per estimates by a domestic brokerage, the mark-to-market losses of corporate India under forex derivatives could be around $4 billion.
What added to the gloom regarding corporate earnings was lower-than-expected provisional results announced by Bharat Heavy Electrical (Bhel), Indias biggest power equipment firm by revenue, recently. Slower than expected execution rate and project specific delays could be the reasons for the lower-than-expected growth in the top line of Bhel.
Recent government action to rein in inflation has also added to uncertainty about outlook on corporate profits. The government has scrapped import duty on crude edible oil and banned the export of rice and pulses. It also surged steelmakers to cut prices of the alloy.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11455.60 crore (till 9 April 2008), to offset their huge losses in the US sub-prime mortgage market.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 594.48 crore on Thursday, 10 April 2008.
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Intraday Calls for 11th April

Today Indian Stock Markets will depends on two major announcements. First is Inflation Numbers which is going to be announced at 10.30 am and second is Industrial Growth Numbers which will be announced at 12.00 noon today. But as all global markets trading in green so A positive opening expected and if Inflation rate declines then market may see a huge and strong rally today.

Today's Intraday Picks:

Inox Leisure

Nagarjuna Construction

RPL

IOC

HDIL

Satyam Computer

For Levels and Targets download the file by CLICK HERE.

Good Luck

Markets Today

The market moved between positive and negative territory due to lack of strong participation from investors ahead of industrial production and inflation data on Friday, 11 April 2008. Key indices, which had soared in mid-afternoon trade, fell sharply in the last hour of trade led by sharp decline in banking stocks.
Oil gas stocks were the star performers of the session. IT stocks slipped due to profit booking after an early surge. Mid-caps and small-caps outperformed the frontliners.
Asian markets, which opened before Indian markets, were mostly in green. But European markets, which opened after Indian markets, were in the red.
As per provisional data, the 30-share BSE Sensex fell 124.41 points or 0.79% at 15,666.10. The Sensex gained 258.44 points at days high of 15,953.54, hit in mid-afternoon trade. The index lost 135.31 points at the sessions low of 15,655.20, hit at the fag end of the trading session.
The CNX S&P Nifty fell 22.55 points or 0.48% at 4724.50.
The BSE Mid-Cap index was up 0.12% at 6,478.96 and the BSE Small-Cap index was up 1.13% at 8,031.06.
On BSE, 1713 stocks gained, 949 stocks declined and 67 stocks were unchanged.
BSE clocked a turnover of Rs 5496 crore as against Rs 5,331.37 on Wednesday, 9 April 2008.
India's second largest power utility by revenue Reliance Energy surged 6.30% at Rs 1252 after the company said on Wednesday, 9 April 2008 that it bought-back 176,871 equity shares of the company. Since the commencement of the buy-back on 25 March 2008, the company has so far bought back 20,38,551 equity shares aggregating Rs 250.75 crore. Earlier, Reliance Energy's board had approved the buyback of shares worth about Rs 800 crore in the first phase.
Indias largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 1.94% at Rs 2465.
Indias largest private sector bank by assets ICICI Bank slipped 4.36% at Rs 801.50.
Indias largest engineering and construction firm by revenue Larsen & Toubro rose 1.08% at Rs 2665.70.
TCS (up 2.86% at Rs 901.70), Ambuja Cements (up 1.50% at Rs 122), Mahindra & Mahindra (up 1.13% at Rs 614.75), Tata Steel (up 1.03% at Rs 685.90), Hindalco Industries (up 0.64% at Rs 173.75) and Maruti Suzuki (up 0.35% at Rs 736), were the top gainers from the Sensex pack.
Ranbaxy Laboratories (down 4.33% at Rs 450.05), HDFC Bank (down 3.64% at Rs 1326), Jaiprakash Associates (down 3.19% at Rs 212.55), Bharti Airtel (down 2.95% at Rs 795.80) and Reliance Communication (down 2.69% at Rs 483), were the top losers from the Sensex pack.
Software firm Financial Technologies was down 0.89% at Rs 1,690 despite the company announcing the acquisition of South African technology company ICX Platform for $1.50 million.
Auto ancillary firm Banco Products India jumped over 17.25% to Rs 36.70 after it said its board would meet on 17 April 2008 to consider buyback of shares.
Private sector lender Development Credit Bank tripped 2.86% to Rs 88.45 after the management denied reports of a merger with a large bank for business expansion. The scrip had jumped over 10% to Rs 100.45 earlier in the day.
Mukesh Ambani-run oil refining firm Reliance Petroleum was up 3.17% at Rs 175.50 after reports hinted at the possibility of an early start of the companys oil refinery.
Offshore transportation services provider Global Vectra Helicorp soared 20% at Rs 85.95 after the company said it plans a rights issue in December 2008 to fund the expansion plans, including an investment of $65 million to raise fleet size to 29 by March 2009.
Key indices in China, Hong Kong, South Korea and Taiwan were up by 0.57% to 1.86%. However, indices in Japan and Singapore were down by 0.65% to 1.27%.
European markets, which opened after Indian markets, were in red. Key indices in UK, France and Germany were down by between 0.65% to 1.34%.
US stocks fell on Wednesday, 9 April 2008, after United Parcel Service Inc slashed its earnings forecast and oil prices hit a record high above $112 per barrel, darkening the outlook for corporate results. The Dow Jones industrial average was down 49.18 points, or 0.39%, ending the day at 12,527.26. The Standard & Poor's 500 Index was down 11.05 points, or 0.81%, finishing at 1,354.49. The Nasdaq Composite Index was down 26.64 points, or 1.13%, at 2,322.12.
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Investment Idea: YES BANK

This private sector bank has posted extremely robust results for the year ended 31st March 2008 and this has led to expectations now build up around the other private sector banks. And the best part about the results is that it helped pull up the bank stocks on the BSE. Banking stocks which had been mercilessly hammered down over the past few days, were suddenly on every investors buying list and yesterday, almost all the frontline private sector bank stocks figured out in the top gainers of the day. The entire banking index was up by over 3%. If nothing else, we owe it to Yes Bank in helping push away the pall of gloom which was cast all over the bank stocks, in the wake of the “exotic” forex derivative investments!
YoY, for the year ended 31/03/08, the total income earned rose by a whopping 2.13 times to Rs 1665.35 crore. Interest income surged 2.23 times to Rs.1,310.82 crore. And despite the interest expended going up by 2.34 times to Rs.974.11 crore and total expenditure increasing 2.16 times to Rs.1315.27 crore, on the back of the huge revenues earned, the bank managed to more than double its PBT at Rs.350.08 crore. The Bank had a huge tax outgo, it was up 3.7 times at Rs.106.46 crore and yet, its PAT rose by a stunning 2.12 times at Rs.200.02 crore. Its capital adequacy ratio stands at 13.64%.
Regarding its exposure to the forex derivatives market, the bank has clarified that it has no uncovered exposure and has a highly valuable treasury customer base which is consistently meeting all its maturing financial obligations. Of the total derivatives exposure of the bank, 70% exposure is to large clients, 30% to medium sized corporates , spread over 53 clients. The management has also clarified that based on the internal scoring method of the bank, all the clients in the derivatives segment are either A rated or above.
It is also pertinent to note that FIIs have a 46.92% stake in the bank in which Rabobank International BV. Given the fast approaching deadline of 1st April 2009, Yes Bank is clearly one of the hot favourites of the foreign banks.
At the current rate of Rs.167, it surely makes a very good buy for some good long term gains.

Source: sptulsian.com

Intraday Calls for 10th April

Today Indian Stock markets may open with positive and remains same for the day. Today can also be a good day for the markets.

Today's Intraday Picks:

BANK OF INDIA
RPOWER
KS OILS
TATA STEEL
BAJAJ HIND
For levles and targets download the file by CLICK HERE.

Others: HCL Tech, Prithvi Information.
Good Luck

Investment Idea: PFC

Power Finance Corporation Ltd (PFC) is a commercial enterprise wholly owned by the government of India and was incorporated in 1986 as a development financial institution dedicated to the power sector. Working as a public financial institution its thrust area is to incentives reforms and restructuring of public sector. Range of services offered by it are term loan for power projects, lease financing, renovation and modernization of power plants, bill discounting, energy conversation schemes, working capital loans etc. The organization offers its services in majority of the states throughout the country. The range of consultancy services offered by PFC includes project restructuring and reform activities, analyzing the financial implications of resources, implementation, monitoring effective distribution and management of information and proper communication.
The other financial products that PFC handles are foreign currency term loans, buyer's line of credit, working capital loans, loan to equipment manufacturers, debt restructuring, refinancing, bridge loan, guarantee services etc.

Investment Rationale
• The company has entered into pact with Indian Renewable Energy Development Agency to facilitate financial cooperation in renewable energy sector. At present the installed capacity of electric power from renewable energy sources in India is 10,209 mw. Keeping in view the potential, Ministry of New and Renewable Energy has set for itself a goal to add an additional 14,000 mw capacity of grid quality power through non-conventional renewable resources from commercially exploitable resources by the end of 11th Five Year Plan. This MoU will provide huge opportunity for the company in terms of revenue generation.
• The company is floating an advisory company for leading global investors and Indian power companies. The company will hold 30 per cent in the company while the balance 70 per cent equity will be held by industry professionals. The advisory company will assess the credit – worthiness of power companies and negotiate with global investors for funding upcoming projects of these firms. This will provide autonomy for the company in deciding the borrower’s creditability while granting loans and thereby minimizing the non - performing assets.
• The company plans to raise huge amount totaling to Rs 160 billion in 2008 – 09 via domestic or overseas markets in order to meet the requirements of power projects in India. With the huge capital expenditure plans in pipeline of major power sector companies in next 5 years, this provides ample scope for the company to grab the opportunity by meeting the financing demand of these companies.

FINANCIAL STATEMENT ANALYSIS

The company posted good financial figures for the quarter ended Q3FY08. The net sales for the company rose to Rs 12,921 million for the Q3FY08 as against the net sales of Rs 9,542 million for the Q3FY07 with the growth rate of 35%. The operating profit gone up by 44% to Rs 4,642 million for the Q3FY08 in comparison to the operating profit of Rs 3,231 million in Q3FY07. The operating profit margin for the company stood at 35.92% for the Q3FY08 versus the operating profit margin of 33.86% for the Q3FY07. The EBITDA for the company stood at Rs 4,718 million for the Q3FY08 as against the EBITDA of Rs 3,406 million for the Q3FY07 with the growth rate of 39%. The EBITDA margin for the company stood at 36.51% for the Q3FY08 as against the EBITDA margin of 35.70% for the Q3FY07. The net profit for the company gone up by 38% to Rs 3,205 million in Q3FY08 as against the net profit of Rs 2,327 million in Q3FY07. The net profit margin stood at 24.80% for the Q3FY08 versus the net profit margin of 24.39% for the Q3FY07.
Strong financials
The company is having strong financials despite being a lender to some of the most problematic borrowers in the country – state electricity utilities. The company boasts of a strong balance sheet with NPAs almost non – existent. The company employs different methods to ensure prompt repayment from borrowers such as a rebate for on-time repayment and an escrow mechanism to protect itself from potential default. PFC also directly pays the suppliers of its borrowers rather than route the money through the latter. This ensures that the loan is used for the stated purpose of asset creation and is not used by the borrower for other purposes. The company also closely monitors the financial health of its state-sector borrowers and has the ultimate option of the State government guarantee to encash if the borrowing utility defaults.
Valuation
The company is a unique player in the finance sector that specializes in lending to power projects and also offer non – fund based services. The company mainly lends to thermal and hydro power generation and transmission and distribution projects. It also has a minor exposure to renovation and modernization projects of existing power stations. The company had an exceedingly good results for the quarter ended December 2007 and set for exciting times aheadwith huge investments projected to be made in the power sector in the next five years. The strong balance sheet with almost nil non – performing assets focused business model and lean cost – structure provides huge growth potential for the company. The stock at the current market price of Rs 160 will trade 14.65 times to its earnings and 2.09 times to its book value and is expected to provide huge upside potential in medium to long term. Therefore, we are initiating ‘BUY’ signal on the stock with the target price of Rs 268 which is approximately 60% up from the current market price of Rs 160.

By HEM Securities

Stock Ideas

HDFC Securities has maintained a buy rating on Tanla Solutions target price of Rs 1074. "Tanla has consistently offered excellent quarterly results and hence it remains our top pick in Mid cap IT services. We believe, with the recent fall in the equity market, the stock is looking very attractive because it faces little risk from slowing industrial spending. Tanla trades at 14x and 9x its FY08E and FY09E EPS of Rs 31.93 and Rs 48.50 respectively".
"Our target price of Rs 1074 (potential upside of 144%) includes Rs 992 for the core business (target multiple of 23x its core earnings of Rs 42.90 per share FY09E) and Rs 82 for its non-core business (interest and dividend incomes). We maintain a BUY rating on Tanla Solutions" says HDFC Securities.

Kotak securities has maintained a buy rating on Nitin Fire Protection price target of Rs 650. "For FY08E, we now expect Nitin Fire Protection (NFPIL) to report revenues of Rs 1.4 billion, EBIDTA margins of 18.4% and PAT of Rs 203 million. Consequently, we expect the company to report lower EPS of Rs 16.1 as against our earlier estimate of Rs 20.1. However, we maintain our FY09E earnings estimates and expect NFPIL to report EPS of Rs 41.0 in FY09E. This is primarily because the plant has now stabilized. Thus, its FY09E numbers would not be impacted".
"We believe the current valuations are very attractive considering the clear growth prospects of the company, going forward. This is due to the strong order book for its CNG cylinders business. This would lead to 99.0% CAGR in revenues and 129.8% CAGR in net profits from FY07 to FY09E. We continue to recommend BUY with an unchanged price target of Rs 650" says Kotak securities .

Markets Today

The market surged in late trade ending with decent gains shrugging off subdued to weak trend in Asian and European markets. It had edged lower at the onset of the trading session tracking subdued-to-weak trend in Asian markets before bouncing back shortly. Banking stocks surged in late trade. Power stocks rose. Realty and IT stocks declined. Capital goods stocks rose on reports Finance Minister P Chidambaram met representatives from auto and capital goods industries to discuss industrial slowdown after recent weak Index of Industrial Production (IIP) numbers.
HDFC Bank and HDFC were major gainers from Sensex pack. The market breadth was strong. Buying was witnessed in select mid-cap and small-cap stocks.
Asian and European stocks edged lower after Washington Mutual Inc, the largest US savings and loan firm, said on Tuesday, 8 April 2008, it expected a large quarterly loss and minutes from the Federal Reserve's latest meeting showed some of the central bankers saw the possibility of a prolonged and severe US economic downturn.
The 30-share BSE Sensex provisionally ended up 234.32 points or 1.5% at 15,821.94. At the days high of 15,829.59, Sensex gained 241.97 points in late trade. At the days low of 15,464.72, Sensex lost 122.9 points in early trade.
The BSE clocked a turnover of Rs 5,294 crore today 9 April 2008 compared to a turnover of Rs 5,145.99 on 8 April 2008.
The broader based S&P CNX Nifty was up 44.55 points or 0.19% at 4,754.20 as per provisional figures.
The market breadth was strong: on BSE 1819 shares advanced as compared to 811 that declined. 58 shares remained unchanged.
The BSE Mid-Cap index up 1.39% to Rs 6,471.88 and BSE Small-Cap index up 1.68% to 7,945.36.
Banking stocks surged in late trade. ICICI Bank (up 3.44% to Rs 841.20) and HDFC Bank (up 6.65% to Rs 1,391) edged higher. India's largest commercial bank State Bank of India rose 1.33% to Rs 1,697. It has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two shortlisted partners are a German firm and a US-based firm, the reports suggested.
Capital goods stocks rose. Larsen & Toubro (up 2.55% to Rs 2,647), Bharat Heavy Electricals (up 4.1% to Rs 1,783) and Suzlon Energy (up 4.25% to Rs 302.05) edged higher. As per reports, the finance ministry is looking at various measures to provide a boost to the capital goods sector, which witnessed a sharp slowdown in growth earlier this year. Finance Minister P Chidambaram today held a meeting with chief executives of several leading public sector and private companies in the sector including the likes of NPTC, Bhel, BEML and L&T among others. In January this year, the Index of Industrial Production (IIP) numbers showed a significant slowdown in the capital goods sector, with growth in the sector falling sharply from over 16% in December 2007, to just 2.1% in January 2008.
Power stocks rose. Reliance Power (up 3.1% to Rs 362.25), Reliance Energy (up 2.3% to Rs 1,176.90), NTPC (up 0.62% to Rs 187.70), Tata Power Company (up 4.84% to Rs 1,188.80) edged higher. The Finance Ministry has cleared a restructured Rs 50,000-crore accelerated power development and reforms programme (APDRP), which would soon be sent to the cabinet for approval.
IT majors declined. Tata Consultancy Services (down 0.98% to Rs 876.65), Wipro (down 0.56% to Rs 411.70) and Satyam Computer Services (down 0.37% to Rs 427.50) edged lower. However, Indias second largest IT exporter by sales Infosys rose 1.27% to Rs 1,479.90.
Realty stocks declined. Indiabulls Real Estate (down 3.33% to Rs 479.80), Housing Development Infrastructure (down 2.02% to Rs 639.50), Unitech (down 2.23% to Rs 263.35) and DLF (down 0.91% to Rs 610) edged lower.
India's biggest FMCG firm by sales Hindustan Unilever (HUL) declined 1.39% to Rs 244.45. It has reportedly cut prices of three of its soap brandsLux, Hamam and Rexona. The price reduction by HUL is being termed as a post-budget measure to please consumers, the reports added.
Indias largest private sector company in terms of market capitalisation and oil refiner Reliance Industries rose 1.55% to Rs 2,418.05.
Jaiprakash Associates (down 1.44% to Rs 218.35), ITC (down 1.2% to Rs 205.80), Ranbaxy Laboratories (down 1.78% to Rs 462.35), Reliance Communications (down 1.71% to Rs 492), Satyam Computer Services (down 1.67% to Rs 421.90), Maruti Suzuki India (down 1.65% to Rs 731.90), Bharti Airtel ( down 1.44% to Rs 816.65) edged lower from the Sensex pack.
HDFC (up 4.83% to Rs 2,421), Tata Steel (up 3.44% to Rs 678.90), Ambuja Cements (up 1.82% to Rs 120.20), Hindalco Industries (up 1.38% to Rs 172.65) and Cipla (up 2.42% to Rs 217.60) edged higher from Sensex pack.
The next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there. Infosys unveils Q4 results on Tuesday, 15 April 2008.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore (till 4 April 2008), to offset their huge losses in the US sub-prime mortgage market. As per provisional data, FIIs bought shares worth a net Rs 7.27 crore on Tuesday, 8 April 2008.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 447.79 crore on Tuesday, 8 April 2008.
European markets were subdued. Frances CAC 40, Germanys DAX and UKs FTSE 100 were down between 0.31% to 0.78%. In Asia, key benchmark indices in Hong Kong, China, Japan, and Singapore were down by between 0.06% to 5.5%.
Source: Capital Market

Intraday Calls for 9th April

Markets may open flat to positive and may see a good rally today.

Today's Intraday Picks:

REL (Reliance Energy)
HDIL
UNITECH
BANK OF BARODA
KPIT

For Levels and Targets download the file by CLICK HERE.

Others: Bank of Rajasthan, Dish TV, Alembic Pharma.
Good Luck

Markets Today

The market lost ground today giving up yesterday's gains tracking weakness in Asian and European stocks. Larsen & Toubro and Wipro were major losers from the Sensex pack. Bharat Heavy Electricals and Bharti Airtel were major gainers from Sensex pack. Reliance Energy recovered from lower level.
The key benchmark indices in Hong Kong, Japan, South Korea, Singapore and Taiwan were down by between 0.65% to 1.79%. European markets were weak. Frances CAC, Germanys DAX and UKs FTSE 100 were down by between 0.95% to 1.3%.
The 30-share BSE Sensex provisionally ended down 194.04 points or 1.23% at 15,563.04. At the days low of 15,479.42, Sensex lost 277.66 points in mid-morning trade. Sensex rose 13.08 points at the day's high of 15,770.40 , at the onset of the trading session.
BSE clocked a turnover of Rs 5,127 crore compared to a turnover of Rs 4,969.92 crore on Monday, 7 April 2008.
The broader based S&P CNX Nifty was down 58.75 points or 1.23% at 4,702.45 as per the provisional figures.
Capital goods, IT, metal and oil & gas stocks declined. However BSE Mid-Cap and Small-Cap indices rose. The market breadth was positive
The market breadth was positive: on BSE 1384 shares advanced as compared to 1,217 that declined. 69 shares remained unchanged.
The BSE Mid-Cap index was up 0.51% to Rs 6,377.07 and BSE Small-Cap index rose 0.48% to 7,815.43.
Capital goods stocks declined. Larsen & Toubro lost 5.29% to Rs 2,576.10 even as company said it had bagged four orders worth Rs 1687 crore. The orders are for water supply projects, sinter plant and cold roll mill and a coal handling plant.
Suzlon Energy declined 1.31% to Rs 290.40. However, Indias largest power equipment maker by sales Bharat Heavy Electricals rose 4.67% to Rs 1,712.75.
Metal stocks declined. Steel Authority of India (down 6.14% to Rs 157.55), National Aluminium Company (down 3.55% to Rs 432.45), Tata Steel (down 3.39% to Rs 656.30), Hindalco Industries (down 1.53% to Rs 170.30) edged lower.
IT stocks declined. Wipro (down 4.6% to Rs 414), Tata Consultancy Services (down 1.64% to Rs 885.30), Infosys (down 2.07% to Rs 1,461.30) and Satyam Computer Sevices (down 0.71% to Rs 429.10) edged lower.
Oil & Gas stocks declined. ONGC (down 0.65% to Rs 1,011.25), Reliance Petroleum (down 1.57% to Rs 168.75), Cairn India (down 0.35% to Rs 227.25) edged lower.
Indias largest private sector company in terms of market capitalisation and oil refiner Reliance Industries declined 1.02% to Rs 2,381.25. It recovered from its lows of Rs 2,358.60. A consortium of Reliance Industries (RIL) has reportedly discovered oil in Yemen. The discovery in Block 9 in Qarn Qaymah 2 well is considered to be significant, and RIL is in process of evaluating the viability.
Jaiprakash Associates (down 4.48% to Rs 221.55), Ranbaxy Laboratories (down 2.71% to Rs 470.75), Grasim Industries (down 2.56% to Rs 2,560.40), Hindustan Unilever (down 2.02% to Rs 247.90), Maruti Suzuki India (down 1.91% to Rs 744.20), and NTPC (down 2.12% to Rs 186.55) edged lower from the Sensex pack.
ICICI Bank (up 0.49% to Rs 813.25), DLF (up 0.68% to Rs 621.25), Bharti Airtel (up 1.25% to Rs 828.60), HDFC (up 0.13% to Rs 2,309.50), State Bank of India (up 0.09% to Rs 1,674.80), HDFC Bank (up 0.09% to s 1,304.30) edged higher from Sensex pack.
The next major trigger for the market is Q4 March 2008 results of India Inc. Analysts will be closely watching what the company managements have to say about the outlook for the year ending March 2009 (FY 2009). Analysts will also scrutinize disclosures that companies may make regarding foreign exchange derivatives products that they have bought on the advice of their bankers. A steep decline in the value of the US dollar against the Japanese Yen and the Swiss Franc hit Indian corporates which have used these two currencies (Yen and Franc) extensively to swap their rupee denominated debt.
As regards Q4 March 2008 results, Morgan Stanley expects 23% growth in net earnings of 104 out of 108 firms in its Indian coverage universe in Q4 March 2008 over Q4 March 2007.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there.
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Stock Idea: Uflex Ltd.

Uflex Ltd, formerly known as Flex Industries, the UFLEX Group has Asia's largest state-of-the-art packaging plant and allied infrastructure at NOIDA (U.P.) spread over 70 acres.

The consolidated performance for the third quarter ended 31st December 2007 has been consistent. On a QoQ basis, net sales was up 17% at Rs.442.77 crore. Total expenditure was up 17% of which 65% of the cost was on account of raw material consumption. PBT was up 14% at Rs.37.03 crore and PAT rose also by 17% at Rs.29.06 crore. On an equity of Rs.55.73 crore, EPS was at Rs.5.25 on a face value of Rs.10 per share. So overall, it kept in line with its usual growth graph, nothing out of the ordinary.

The company is setting up a greenfield project at Mexico for manufacturing of Polyester Film to meet the growing demand of its product. The total cost has been estimated at US$40 million in the first phase to produce 26,000 tpa of flexible plastic film.

Its expansions at Dubai and also at the existing plants in India are in an advanced stage of completion and are expected to add on to the bottomlines in Q4 performance. Its plant at Dubai has a capacity of 26,400 tonnes per annum (TPA) of PF.

It has also undertaken another expansion in India to produce newly developed woven polypropylene bags, at an estimated cost of Rs.50 crore in its first phase.

Currently quoted at Rs.136, the stock remains steady though like all, it has slipped drastically from its January levels of Rs.253. Hold on.

Source: sptulsian.com

Intraday Calls for 8th April

Indian Stock Markets may open flat to positive and remains same for the day today with 1% +/-. A positive closing with small gain possible. Small & Midcaps may perform well today.

Today's Intraday Picks:
BHEL
IVRCL Infra
APTECH
SATYAM Computer
GAIL

For levels and targets download the file by CLICK HERE.

Others: Selan Exploration, Videocon Industries, IOC.
Good Luck

Stock Idea: Petronet LNG

Petronet LNG, the country’s largest LNG receiving and regasification company, has a terminal at Dahej and is working on setting up one at Kochi. It has also been considering expanding into power as part of a forward integration strategy and in an effort to effectively manage its inventory of gas.

The company has managed to post improved profit margins despite the fall in the sales for the third quarter ended 31st December 2007, through cost control and curtailing of its overall expenses. On a q-on-q basis, sales was down 5.35%. Total expenditure was down 7.35% at Rs.1,349.05 crore (Rs.1456.16 crore) which resulted in the EBIDTA showing a rise of 7.74%. Net profit was up 13.48%. Consequently, the OPM improved at 15.43% (13.56%) and NPM at 8.29% (6.91%). The company’s performance has not been as good as it should have been. The margins on each million British thermal unit (mBtu) of gas sold has been up, yet, the fall in the volume of sales is what affected the overall performance.

India has only two LNG regasification terminals and both are in Gujarat. One is owned by Petronet and the other by Shell India. Petronet’s LNG facility at Dahej has the capacity to handle 5mtpa (million tonne per annum) of LNG, but it is limited in its ability to store the gas.

The company proposes to set up a 1,200MW power project at its Dahej LNG terminal where it is expanding capacity to 12.5mtpa in three years. It also plans to set up its second 1,000MW gas-based power project at its Kochi LNG terminal, which is expected to be ready by 2009.

There is also news that British Gas is in discussions with Petronet LNG for third party access to the company’s Dahej terminal for importing LNG. Imports may begin in early 2008-09, once Petronet completes capacity expansion of Dahej terminal.

The company is also in talks to buy stakes in gas projects in Australia. The size of the proposed equity purchases could vary between 5% and 50% in the coal bed methane projects. The company will also participate in Australia's bidding process for upstream projects being announced next week. It is looking at projects between 7 trillion and 15 trillion cubic feet.

Currently quoted at Rs.70, this is a very sound company and it would be better to stay invested as the long term prospects are very good.

Source: sptulsian.com

Intraday Calls for 7th April

Today Stock Market India may open flat to positive and may see small gains. A positive closing expected.

Today's Intraday Picks:

GMR INFRA
GAMMON INFRA
KOTAK BANK
NTPC
PFC
For Levels and Targets download the file by CLICK HERE.

Others: J Kumar Infra, Bank Of Rajasthan, V Guard.
Good Luck

Stock Ideas

Rohit Ferro Tech Ltd. (Code: 532731) (Rs.65) is a leading producer of high carbon ferro chrome apart from manufacturing ferro manganese and silico manganese through submerged arc furnace route. It has set up a greenfield plant in Jajpur-Orissa thereby taking its total capacity to 1,65,000 MTA from 55,000 MTA earlier. Further, it has set up a fifth furnace with 15000 MTA capacity in Bishnupur, which is expected to go operational soon. To become an integrated player, the company has applied for a mining lease to the Government of Orissa for chrome ore as well as manganese ore. Presently, it is sourcing manganese ore from Australia besides local sourcing. On the other hand, due to higher production, better margins and better availability of raw-materials, the company is stressing more on production of ferro manganese in place of high Carbon Ferro Chrome. For future it has chalked out a plan to setup a 110 MW captive power plant to bring down its power cost. In order to fund this, it recently made a preferential allotment of 80 lakh convertible warrants at Rs.43 per share to promoters as well as strategic investors like Kampani Finance, Foster Capital etc. On the back of stunning Q3 results, it may end FY08 with sales of more than Rs.500 cr. with PAT of Rs.50 cr. i.e. an EPS of Rs.14 on its current equity of Rs.34.50 cr. The company has the potential to post an EPS of Rs.20 on its fully diluted equity of Rs.42.50 cr. for FY09. Keep accumulating at declines.

A few days back, GM Breweries Ltd. (Code: 507488) (Rs.79) came out with disappointing results for the March 2008 quarter. Sales improved marginally to Rs.49 cr. but net profit declined by 25% to Rs.2.65 cr. due to lower operating margin. Accordingly, the company declared 25% dividend (including 5% special dividend being the Silver Jubilee year), which gives a yield of nearly 3% at CMP. Although the March 2008 quarter results were below expectation, the entire FY08 figures are pretty decent as sales grew by 10% to Rs.186 cr. and PAT increased by 25% to Rs.14.70 cr. thereby registering a healthy EPS of Rs.16 on its equity of Rs.9.40 cr. At the current market cap of Rs.80 cr., the scrip is trading at a low P/E multiple of 5. With a whopping gross block of Rs.68 cr., low debt : equity ratio, strong cash flows, decent margins etc., the company deserves much better discounting. With 68% holding, the promoters are investor friendly and have an uninterrupted record of dividend payment from the day of listing. At a modest discounting by 12 times, the scrip has the potential to cross Rs.200 mark in the medium-to-long-term.

Source: Internet (money times)

Inflation Impact

Friday, the last day of the week, though the first of the new fiscal FY09 may not end on a very positive note. Inflation, which has remained a major concern for the past few days, has now raised up its ugly head. Inflation is at a 3 year high. Wholesale prices rose 7.0 percent in the week ended March 22 from a year earlier, faster than the previous week's 6.68 percent. Vegetable prices are up 4.9%. The current hike in inflation is being caused primarily by higher global commodity prices in agriculture, fuel and metals feeding to domestic inflation. It is not just an Indian situation; currently the whole world is facing the same problem of soaring prices.

The markets had expected the inflation rate to be around 6.52% and when the figure touched on the psychological 7% mark, all hell broke loose on Dalal Street. The markets immediately tanked by a whopping 300 points the moment the news was announced.

It was generally expected that if the inflation had not breached or touched the mark of 7%, the markets would have improved but now that reality has hit, the markets have not taken to this news too well.

There is no doubt now that the UPA Govt, which has been announcing a slew of measures over the past week, will have to take a more aggressive stand to get down the inflation figure. Inflation will be the biggest agenda for the Govt and this could not have been more ill-timed, what with the general elections scheduled for 2009.

There is also no doubt now that the Govt will have to put concerns over the slowing economic growth rate in the back burner and concentrate only on getting the prices down. A hike in the interest rates to curb inflation rate and a rise in the CRR are the most predicable and currently the only, immediate practical solution which the Govt will have to adopt to put a lid on this growing crisis. Rising interest rates would surely mean that slower economic growth but right now, there seems to be just no other alternative. The interest rates are currently at 7.75%, which was not tampered with when the Credit Policy was announced last on 29th January 2008. The next is scheduled for 29th April where a rate hike is a certainty.

Last week, the Govt suspended export subsidy under the duty entitlement pass book scheme (DEPB) on some steel products temporarily to control inflation and boost domestic supplies. The Govt has also withdrawn DEPB on cement, manganese, chrome and ferrous metals. It has also completely withdrawn the benefits on overseas sales of non-basmati rice. Govt raised the minimum price for non-basmati rice exports to $1,000 per tonne from $650 per tonne free-on-board, in a move to slow down overseas sales. Though the cement manufacturers have raised their prices, steel manufacturers have assured that they will not resort to a price hike right now and will keep the prices stable.

All these measures will start showing their effect from the next two weeks. The inflation figure of 7% which is yet to factor in the effects of these and hence it would be too premature at this stage to say that the inflation will now continue to soar even more high.

The pain in the market is expected to remain for a week or two more. By the time, the 18th April inflation rates are announced, the rates would surely have come down, in tandem with the measures taken. Till then, the markets would have discounted the inflation and once figures come in of even a slight drop from the 7% mark, the markets will rise.

For now, there is no alternative but to chin up and bear. Rising costs and falling markets are not exactly the most conducive atmosphere to live in but then, is there any other alternative?

Source: sptulsian.com

Intraday Calls for 4th April

Today Indian Stock markets may open flat to positive but remains volatile till the declaration of inflation numbers. If there is decrease in inflation then markets can see a strong rally.

Today's Intraday Calls:

BAJAJ HIND

GMR INFRA

CAIRN INDIA

JSW STEEL

SCI

For Levels and Targets download the file by CLICK HERE.

Others: Gammon Infra, IB Securities & Lok Housing.

Good Luck

Markets Today

The markets ended the day on a flat note amid volatility. Buying interest was seen in technology, oil, telecom, metal and FMCG stocks have given support to the markets though selling pressure has continued in power and capital goods.
On the global front, Asian markets ended strong barring Jakarta Composite and Taiwan. European markets are trading mixed.
Top gainers were Wipro, Satyam, TCS and Dr Reddy's Labs while losers - BHEL, Maruti, Reliance Energy, Suzlon and ABB.
Sensex closed up 82.15 points or 0.52% at 15832.55, and the Nifty up 17.40 points or 0.37% at 4771.60.
About 1393 shares have advanced, 1599 shares declined, and 77 shares are unchanged.
The BSE Midcap Index ended at 6,387.23 down 0.4%.
The BSE Smallcap Index ended at 7,840.29 down 0.9%.
The BSE Bankex closed ended flat at 7,820.62. IOB, ICICI Bank, Centurion bank, Axis closed in green.
The BSE Capital Goods Index closed at 13,214.73 down 2%. Suzlon, Reliance Infra, Siemens, Triveni Engineering closed lower.
The BSE Auto Index closed at 4,490.94 down 1%. Apollo Tyres, Escorts, Ashok Leyland, Hind Motors closed lower.
The BSE Metal Index closed at 13,588.76 up 0.5%. SAIL, JSW Steel, Jindal Steel, Jindal Stainless, Hind Zinc closed lower
The BSE FMCG Index closed up 1% at 2,344.68. Colgate, ITC, Nestle, Dabur ended higher.
BSE Oil and Gas Index closed at 10,531.88 up 2%. BPCL, HPCL, IOC, Reliance Natura, GAIL ended higher.
The BSE IT Index was at 3,764.91 up 3%. HCL, Infosys, Tech mahindra, TCS, Tech Mahindra closed higher.
The NSE cash turnover was at Rs 12401.12 crore and the NSE F&O turnover was at Rs 32513.16 crore. The BSE cash turnover was Rs 4972.01 crore. Total market wide turnover was at Rs 49886.29 crore.

Source: moneycontrol.com

Investment Idea: Panacea Biotech

Panacea Biotech is predominantly recognized as the company that manufactures the polio vaccines in India. And recently the stock price saw a major spurt when the Union Budget announced that there would be increased allocation for polio and this company is to be one of the major beneficiaries. The future might be good but the same cannot be said about its Q3 performance.

The financial performance for the third quarter ended 31st December 2007 has not been very good when compared on a QoQ basis but consistent when compared on YoY.

YoY, the company posted a net sales of Rs.226.35 crore, a rise of 15% YoY. Of this, Rs.177.42 crore was via vaccines, its mainline of business, Rs.49.84 crore came in via formulations and Rs.4 lakhs via its R&D. EBIDTA rose 22% at Rs.59.60 crore. Interest outgo jumped up more than three times to Rs.4.72 crore. PBT was up 13% at Rs.43.68 crore and PAT was up 6% at Rs.28.93 crore. QoQ, PAT was actually down 10%.

Hopefully, the coming quarters will now be good for the company with many positives happening. It has entered into an MOU with Punjab University, Chandigarh for research collaboration to identify a lead molecule with an aim to bring a drug superior to existing marketed products in me therapeutic area of Psychiatric Disorders.

It has been pre-qualified by WHO for supplying their innovative combination vaccines for pediatric immunization- EasyFour (DTP + Hib) and Ecovac (DTP + Hep B). The company is already a pre-qualified supplier of OPV and Hepatitis-B vaccines to UN agencies. With this pre-qualification by WHO, Panacea Biotec would now be able to participate in a large global market of combination vaccines for paediatric immunization.
The company is setting up a new vaccine production plant at Baddi, H.P.at a capex of over Rs.100 crore. It will have a capacity of more than 1 billion doses per annum, to cater to domestic and global markets. Once this goes on stream in FY09, the total capacity at Panacea would be two billion doses per annum.

The company is also into R&D in a big way. It recently opened its fifth R&D centre in Navi Mumbai. The company invests around 6% of its annual turnover into R&D though it is yet to start giving good returns.
Currently quoted at Rs.344, a good stock to invest and if invested, hold on.

Source: sptulsian.com

Intraday Calls for 3rd April

Market may open with positive bias and small rally expected today. A positive closing with some gain expected.

Today's Intraday Picks:

SAIL
RPOWER
SATYAM Computer
DLF
YES BANK

For Levels and Targets download the file by CLICK HERE.

Short Term Delivery Buy IOC (461) Target Rs. 525+
Good Luck

Markets Today

An early surge on the bourses proved short-lived as index heavyweights Reliance Industries, ICICI Bank and L&T, gave up initial gains. The Sensex, which had surged past 16,000 mark in early trade, fell below that level later. Nevertheless, the market breadth remained strong. 16 shares advanced from the 30-member Sensex pack.
Sensex settled 123.78 points or 0.79% higher at 15,750.40. Sensex gained 92.85 points at days low of 15,719.47 hit in late trade. Sensex opened with an upward gap of 396.68 points at 16,023.30 and advanced further to hit a high of 16,236.70 in early trade. At the days high, the Sensex rose 610.08 points. It oscillated in a band of 517.30 points in volatile trade
The broader based S&P CNX Nifty was up 14.65 points or 0.31% at 4,754.20. Nifty April 2008 futures were at 4741.15, a discount of 13.05 points as compared to spot closing.
Strong cues from global markets had boosted domestic bourses earlier in the day. US stocks rallied on Tuesday, 1 April 2008, after Lehman Brothers said it raised $4 billion in an offering of convertible preferred shares, which soothed fears it was heading for a fate similar to that of Bear Stearns. European markets, which opened after Indian market, were in green. Asian markets, which opened before Indian market Indian market, surged.
The market breadth was strong on BSE: 1734 shares advanced as compared to 938 that declined. 50 shares remained unchanged.
The BSE Mid-Cap index rose 0.08% to 6,400.37 and the BSE Small-Cap index advanced 0.51% to 7,901.91, as per provisional closing. Both these indices underperformed the Sensex.
The total turnover amounted to Rs 4769 crore on BSE as compared to Rs 4,718 crore yesterday, 1 April 2008
Total turnover in NSEs futures options segment amounted to Rs 34170.35 crore as compared to Rs 35886.84 crore yesterday, 1 April 2008
The BSE Consumer Durables index (up 0.80% to 3,917.70), the BSE IT index (up 2.93% to 3,644.35), the BSE Auto (up 1.56% at 4,539.52), the BSE Bankex (up 2.34% at 7,822.56), the BSE Health Care index (up 0.82% at 3,862.83), the BSE TecK index (up 2.04% to 3,078.22), outperformed the Sensex
The BSE Metal index (down 2.15% to 13,516.89), the BSE FMCG index (down 0.79% at 2,318.80), the BSE Oil & Gas index (down 0.25% to 10,328.08), the BSE Realty index (up 0.46% at 7,501.17), the BSE Power (down 0.49% to 3,137.12), the BSE Capital Goods index (down 0.46% at 13,498.15), and the BSE PSU index (down 0.11% to 7,387.62), underperformed the Sensex
IT pivotals advanced on fresh buying. Indias second largest software services exporter Infosys Technologies surged 4.34% to Rs 1483 on 1.66 lakh shares. It was the top gainer from Sensex pack.
Other IT pivotals, Wipro (up 1.10% to Rs 413.50), Satyam Computer Services (up 1.91% to Rs 405), and TCS (up 2.06% to Rs 852), advanced.
Indias largest private sector company in terms of market capitalisation and oil refiner Reliance Industries eased sharply from days high of Rs 2455. It settled 0.22% lower at Rs 2340 on 13.27 lakh shares. The company said on Tuesday, 1 April 2008, it had discovered more gas in an exploration block off the east coast. The potential commercial interest of the discovery is being ascertained through more data gathering and analysis, the company said in a statement.
Jaiprakash Associates (up 2.51% to Rs 231, off days high of Rs 240.95), HDFC (up 3.82% to Rs 2450, off days high of Rs 2524.70) and Bharti Airtel (up 1.32% to Rs 815.25, off days high of Rs 839), though up pared early gains.
Banking shares gained on fresh buying. Indias largest private sector bank in terms of net profit ICICI Bank advanced 3.93% to Rs 786.25. The stock came off session's high of Rs 815. The banks American Depository Receipt (ADR) jumped 8% yesterday, 1 April 2008, on the New York Stock Exchange (NYSE).
Other banking shares, State Bank of India (up 1.51% to Rs 1649), and HDFC Bank (up 0.45% to Rs 1314), also logged gains
Indias top tractor marker in terms of sales, Mahindra & Mahindra (M&M) rose 2.61% to Rs 667.25 after it said on Tuesday, 1 April 2008, its vehicle sales rose 20% to 24,682 units in March 2008 over March 2007. M&Ms sales rose 30% to 2,31,355 vehicles, in the financial year to March 2008 over the financial year to March 2007.
Indias top truck marker in terms of sales, Tata Motors rose 1.51% to Rs 636.90 after it said on Tuesday, its vehicle sales 6% to 66,495 units in March 2008 over March 2007. Sales of commercial vehicles rose 17% to 35,993 units and sales of cars and utility vehicles fell 4% to 24,737. Exports fell 9% to 5,765 vehicles
Indias largest private sector power utility company in terms of sales, Reliance Energy slumped 5.15% to Rs 1222 on 9.22 lakh shares. It was the top loser from Sensex pack.
Steel stocks declined on reports that the government has asked steel makers to cut prices by 10% to 20%, failing which it may take a host of fiscal measures to lower prices. Tata Steel, the countrys largest private sector in terms of sales, declined 3.50% to Rs 644
Other steel manufacturers JSW Steel (down 4.93% to Rs 785), Steel Authority of India (down 4.13% to Rs 167.30), and Jindal Steel & Power (down 2.36% to Rs 1965), declined. As per reports, the government has asked steel makers to cut prices by 10% to 20%, failing which it may take a host of fiscal measures to lower prices.
Bharat Heavy Electricals (down 2% to Rs 1854), and ITC (down 2.18% to Rs 206.55), edged lower from Sensex pack.
India's biggest engineering & construction firm by revenue L&T lost 1.1% to Rs 2861.25. The stock came off session's high of Rs 3069.90
GSS America Systems was the top traded counter on BSE with turnover of Rs 344.18 crore followed by Reliance Industries (Rs 318.62 crore), Reliance Capital (Rs 277.80 crore), Essar Oil (Rs 209.51 crore), and Reliance Petroleum (Rs 207.35 crore), in that order
Indiabulls Securities topped volumes chart clocking volumes of 1.50 crore shares followed by Reliance Petroleum (1.22 crore shares), Kashyap Technologies (1.10 crore shares), Reliance Natural Resources (1.02 crore shares) and Essar Oil (95.50 lakh shares), in that order.
Indiabulls Securities, which was spun off from Indiabulls Financial Services in January, settled at Rs 99.05 on BSE, as against base price of Rs 380, on its debut today. The stock hit a high and low of Rs 300 and Rs 96.20 respectively during the day. Indiabulls Financial Services, had allotted one share of Indiabulls Securities for every share held.
Among the side counters, Global Vectra Helicorp (up 19.97% to Rs 78.10), Classic Diamonds (up 20% to Rs 75.75), and Haldyn Glass Gujarat (up 20% to Rs 78.05), surged.
GSS America Systems (down 20% to Rs 623.10), Bosch Chasiss Systems (down 10% to Rs 559.75), ETC Networks (down 11.95% to Rs 261.95), and (down 9.94% to Rs 41.70), slipped
Cement shares gained on reports that they have raised prices in the range of 3% to 4% across the country. Ultratech Cement (up 5.53% to Rs 804), India Cements (up 2.05% to Rs 189.25), Birla Corporation (up 0.13% to Rs 198.50), ACC (up 0.89% to Rs 833.10) and Deccan Cement (up 1.61% to Rs 259) edged higher.
Prices were increased because of the rise in production cost. The cement price is now Rs 258 per 50 kilogram bag in Mumbai.
Steel Strips Wheels gained 3.62% to Rs 174.70 after the company said it has bagged an export order worth Rs 110 crore from Renault, France for supply of one million steel wheel rims over five years.
Gujarat Gas Company dipped 2.97% to Rs 227.30. The company said it has signed a contract for supply of 2.13 million cubic metres of gas per day with GAIL (India). The company made this announcement after trading hours on Tuesday, 1 April 2008.
BEML gained 1.45% to Rs 989 on achieving a provisional turnover of Rs 3005 crore with 15.5% growth and profit before tax of Rs 350 crore with 11% growth in the financial year 2007-08 over 2006-07. The company made this announcement.

Source: CapitalMarket

Intraday Calls for 2nd April

Indian Stock Markets will open with Gap Up and remains strong for the day today. A smart and strong rally expected of about 4-5%.

Today's Intraday Picks:

UNITECH

GMR INFRA
BHEL

RCOM

BAJAJ HIND

For Levels and Targets download the file by CLICK HERE.

Others: Tata Steel, Lanco Infra, HDIL.

Short Term Delivery Buy PRISM CEMENT (44) Target 60+

Good Luck

Investment Idea: Praj Industries

Praj Industries offers innovative solutions to significantly add value in bio-ethanol, bio-diesel and brewery plants and related waste water treatment systems. It delivers know-how, license, engineering design, plant & equipment, project management, commissioning and customer care and turnkey projects.

The company has recently formed a 54 : 46 JV company in Brazil with a Brazilian Engineering, Procurement Construction & Manufacturing Company, Jaragna Equipamentos Industriais Ltda. which would provide Praj an entry into the fastest growing ethanol market in the world. This JV company will supply end to end solutions for sugarcane juice to ethanol production.

The company has posted very good results for the year ended 31st March 07, wherein, its total income was at Rs.616 crores with PBT of Rs.110.36 crores and PAT of Rs.86,53 crores, on an equity of Rs.16.78 crores. In July 07, due to 1 : 1 bonus issue and preferential issue, paid-up equity of the company increased to Rs.36.58 crores.

For 9 months ending 31-12-2007, the total income of the company was at Rs.525 crores with PBT of Rs.107 crores and PAT of Rs.94.88 crores, resulting in an EPS of Rs.5.25 for the period. The bottomline of the company for 9 month period is higher than whole of FY 07, inspite of topline being lower by Rs.92 crores for the period, over FY 07.

The present equity of the company is Rs.36.88 crores with face value of Rs.2. Of this, as at 31-12-2007, promoters stake is 21.35% while 25% is held by Mutual Funds, Banks and FIIs and about 54% by public.The prominent shareholders of the company are Tata Sons holding 7.34% stake who have acquired this stake from the promoters in September 07. Vinod Khosla, a PE investor holds 6.75% while Rakesh Jhunjhunwala holds about 7.90%. Rakesh Jhunjhunwala though resigned from the Board of the company replacing him with his nominee, the company has Mr. Kishor Chaukar on the Board as nominee of Tata Sons.

The company has developed technology for ethanol production based on sugarcane, sweet sorghum, corn and of bio-diesel based on Jathropha. Bio-fuel is being explored all over the world, due to soaring crude prices now crossed $ 100 per barrel. The company is hopeful of touching Rs.1,000 crores as its topline for FY 09.

FY 08 is likely to result in a PAT of 142 crores, resulting in an EPS of Rs.7.80 with topline of Rs.780 crores. FY 09 is likely to see a topline of Rs.1,000 crores with PAT of close to Rs.200 crores, resulting in an EPS of Rs.11.

Share is now ruling at Rs.133 which discounts its FY 09 earnings by about 12 times which is quite low when compared with other engineering or capital goods manufacturers.

Share had a 52 week high of Rs.273 which has now corrected by over 50% in this carnage, During FY 07 the company paid 135% dividend while for FY 08 an interim dividend of 99% has already been paid.

Share at Rs.133 makes a safe and excellent bet for those investors who have 8 – 10 months view on the stock, which has potential to touch Rs.200 mark. The sector of the company has tremendous growth potential for the next 4 – 5 years. A safe bet at Rs.133.

Source: sptulsian.com