Markets Today

Market Snapshot
Market end near day's low ahead of FNO expiry tomorrow
Sensex ends down 73 pts at 16276; slips nearly 230 pts from day's high
Nifty ends down 15 pts at 4860; slips nearly 70 pts from day's high
Interest rate sensitive stocks continue to drag; IT stocks continue to hold firm
BSE Bank Index down 2.3%; SBI down 4%, HDFC Bank down 1.1%
BSE Realty Index down 1.5%; Unitech down 4.7%
Index losers; Suzlon, Power Grid, Cairn down nearly 2.8%, RPL, HDFC down nearly 2%
BSE IT Index up 1.2%; rupee depreciates by 43 bps at 42.90
Satyam, Wipro up nealy 2.75%, TCS up 1.5%
Index Gainers; Tata Motors up 3%, Cipla up 2.9%, Sterlite up 2.7%
Fertliser stocks gains on back of subsidy news; Chambal Fert up 6.5%, Mangalore Chem up 4%
Sugar, engineering & bank stocks losers in midcap/small-cap space
OBC down 6%, Bank of Raj down 5.6%, BoI down 5%, IOB down 4.9%
NSE Advance Decline at 1:2
Total market turnover at Rs 66617 cr; FNO turnover at Rs 49968 cr
Buzzers
Chambal Fert up 7.5%; FY09 fertiliser subsidy seen at Rs 95,013 cr
Bajaj Finserve up 9%; sees buying interest after yesterday's re-listing
Firstsource up 7.3%; reports that Warbug Pincus is eyeing stake in the co; may look to merge with WNS
Aban Offshore: bagged around $10 m contarct today
Opto Circuit: Board Approves Bonus Issue Of~7 Shares For Every 10 Held
Losers
Eicher Motors down 8%; was up 17% during the day
Repro India down 9.5%; was up 11% yesterday on good results
Bank of Raj down 5.5%; was up 14.5% on back of board meet on May 31 to consider bonus issue
FNO Snapshot
Nifty rollover at 43%, Marketwide roll at 40%; net add 50 lakh shares in OI
Short build continue in Nifty futures; May Futures at 8 pts discount and June futures at 15 pts discount
Put writng seen at 4800 level
Nifty 4900 put shed 3.8 lakh shares in OI; Nifty 4800 put add 1.2 lakh shares in OI
Nifty 5000 call add 6.3 lakh shares, 4800 call add 3.8 lakh shares, 4900 call add 1.6 lakh shares in OI
Bank, cement, metal stcoks witness short rollover
Fertlizer stocks witness mild long build up in June series
Momentum stocks witness long unwiding and short rollover
Strong Rollover IOB 82% Ultratech 73% India Cem 72% UBI 71% Hindalco 70% BoI 62%
ICICI Bk 52% R COmm 51%
Low Rollover Neyveli Lignite 27% Indian Bank 25% Punj Lloyd 24% India Infoline 22%
Purvanakar 21% Hind Zinc 20%

Source: moneycontrol.com

Stock Ideas:HDIL, Havells India

PINC Research has maintained its buy rating on Housing Development and Infrastructure with an 18-month price target of Rs 1212 in its May 23, 2008 research report. "Housing Development & Infrastructure Ltd.’s (HDIL) Q4FY08 results were above expectations. Net sales doubled QoQ to Rs 9.8 billion and OPM expanded 2,175bps to 88.6% on back of lower cost of land in SRS projects. HDIL posted a net profit of Rs 7.1 billion (up 162%) owing to strong operating performance."
"We have valued HDIL’s core business NAV at Rs 714 per share (pre-bonus). The airport slum project is expected to add another Rs 498 per share, boosting its total NAV to Rs 1212 per share. Considering HDIL’s strong presence in MMR (Mumbai Metropolitan Region) and its expertise in high margin slum redevelopment business, we believe HDIL should trade at par with its NAV. Thus, we maintain our ‘BUY’ recommendation with an 18-month price target of Rs 1212," says PINC's research report.

PINC Research has mainatained its buy rating on Havells India with a 12-month price target of Rs 650 in its May 26, 2008 research report. "Havells India Ltd’s (Havells) consolidated Q4FY08 results were below expectations with Sylvania reporting a contraction in margins and flat net profits QoQ of Rs 78 million. While consolidated net sales rose by 2.6% QoQ to Rs 13.7 billion, OPM at 5.9% was lower by 150bps. Net profits rose by 5.4% to Rs 469 million. The growth was driven by lighting and electrical consumer durables segments."
"The CMP of Rs 470 discounts FY10E EPS of Rs 52.5 by 8.9x and the stock trades at an EV/EBIDTA of 6.7x FY10 estimates. We believe valuations do not factor in the improvement in Sylvania’s performance, which can have a significant leverage benefit in margins. With commencement of outsourcing to Havells, a significant ramp up in the same should accrue over the next 2-3 years. Thus, we maintain our ‘BUY’ recommendation with a 12-month price target of Rs 650," says PINC's research report.

Intraday Calls for 27th May

Today Indian Stock Market may open flat to positive and may see a small rally. A positive closing expected.

Intraday Tips/ Trading Calls:

OMAXE LTD.
LANCO INFRA (LITL)
RPOWER
BAJAJ HINDUSTAN
ESSAR OIL
SATYAM COMPUTER

For Levels and Targets download the file by CLICK HERE.

Short-Med Term Delivery Calls:
Premier Explosives 526247 (33.30) Target 45+
GULF OIL 506480 (127) Target 155+
INDO Borax & Chemicals 524342 (89) Target 120+

Good Luck