Monday, June 9, 2008

Stock Idea: Cadila Healthcare


Religare has maintained its buy rating on Cadila Healthcare with a target price of Rs 381 in its June 5, 2008 research report. "We estimate that the domestic market would witness a 12% CAGR over FY08-FY10 driven by consolidation in existing therapeutics as well as entry into newer arears like the neutraceuticals and hospital segment. The outlook on the Hospira JV, which will commence in H2FY09, is very promising."
"Valuations at 11.7x FY09E EPS of Rs 24.6 and 9.6X FY10E EPS of Rs 29.8 remain attractive. We remain Buy with target price of Rs 381 based on 15x FY09E earnings," says Religare's research report

Markets Today

Markets Snapshot
Markets witness sharp fall falling U.S. market cues and in line with Asian peers
Nifty hits new 2008-low during the day; manages to close at 4500; Nifty recovers nearly 80 pts from day's low
Sensex ends down 506 pts at 15066; falls below 15000 during the day
Reliance Ind hits new 2008-lows at 2111
BSE Smalll-cap Index down 3.6%, Nifty Junior down 3.8%
Bank, Realty & Cap Goods hit new 2008-lows
BSE Realty Index down 7%; Unitech down 9.6%, DLF down 7.2%
BSE IT Index down 4.2%; TCS down 3.4%, Wipro down 5%, Infosys down 4.6%
BSE Cap Goods, Oil & Gas Index down nearly 3.3%
Index losers; Suzlon down 6.5%, ONGC down 6.3%, HDFC down 6%
Index Gainers; Nalco up 4.8%, Cairn India up 4.4%, Ranbaxy up 3.7%, RPL up 2.9%
Non-Index losers; Bajaj Auto Fin down 13.5%, Neyveli Lignite down 9.2%, HCC down 10%, Alok down 9.3%
NSE Advance Decline at 1:8
Total market turnover at Rs 76668 cr; FNO turnover at Rs 58333 cr
F&O Snapshot
Nifty futures discount at 14 pts; add 33.5 lakh shares in OI
Some short covering in Nifty futures seen in last half an hour of trade
Unwiding seen in momentum stocks; Fresh long seen in Cairn, Ranbaxy, R Comm
Fresh shorts seen across sector: oil & gas, realty, infra stocks
Fresh shorts: Suzlon, NTPC, Power Grid, RIL, ONGC, JP Ass, GMR Infra. DLF
Unwinding of long positions seen in Ispat, Alok, Ambuja Cem, Nag Fert, IFCI
Options Action Nifty 4200 put add 26 lakh shares in OI Nifty 4500 call add 24 lakh shares in OI Nifty 4400 put add 12.5 lakh shares in OI Nifty 4700 call shed 12 lakh shares in OI

Source: moneycontrol.com

Intraday Trading Calls for 09th June

A Gap down opening (-2-3%) expected in Stock Market India but it may recover smartly from intraday lower levels. So today can be a golden chance for investing in valuable stocks at lower levels.
Today's Intraday Stock Tips/Trading Calls:
Buy at lower levels from previous close for intraday recovery gains:
RPL
CAIRN INDIA
ONGC
ASIAN ELECTRONICS
VOLTAS
PRAJ INDUSTRIES
SELAN EXPLORATION
Corporate News
SpiceJet is looking to raise Rs4bn in equity capital to part finance aircraft acquisitions plans.(BL)
Punj Lloyd lines up a capex of US$100mn for 2008-09.(BS) Punj Lloyd secures Rs6.5bn order from IOC for the latter’s Barauni refinery.(FE)
NTPC and its JV subsidiary, Nabinagar power plant, awards BTG contracts to BHEL for Rs35bn.(ET)
Nalco announces expansion plans worth Rs400bn for the next five years.(BL)
Essar Steel Holdings says it might raise its takeover bid for US based Esmark.(BS)
Reliance Petroleum's export oriented 29mn tons refinery to start generating revenues from current year.(BS)
Indian Oil and Oil India to acquire Reliance Industries’ offshore oil block in East Timor.(BL)
JK Lakshmi Cement is adding five more ready-mix concrete units as part of its expansion plans.(ET)
UAE based Etisalat pulls out of negotiations to acquire stake in Spice Communications; cites high valuations.(BS)
Cargill Ventures has cut by half the US$9mn investment it had announced into KPIT Cummins a year ago.(DNA)
GMR Infrastructure to relocate its 220MW power plant to Kakinada in AP from Mangalore in Karnataka.(DNA)
Sobha Developers to foray into the Mysore realty market with three projects in current fiscal.(BS)
Corporation Bank may waive Rs2.8bn under the debt relief scheme for farmers.(BL)
UK based Vincent Tchenguiz is holding talks with Tata, to invite investment from the latter in a new US$10bn environment fund.(ET)
CavinKare and Henkel have announced a 5% hike across product categories.(TOI)
Axis PE, the PE arm of Axis Bank, is investing Rs1.4bn in two Ahmedabad companies.(ET)
Delhi government owned Indraprastha Power Generation to set up a 2,000MW coal fired power station in MP.(FE)
Gail India is looking at setting up a CNG corridor comprising Nagapattinam, Karaikal and Puducherry.(ET)
Six NBFCs, including Shriram Transport Finance, Ashok Leyland and Reliance Capital are believed to be in the race for buying a US$1bn loan portfolio of Citicorp Finance.(ET)
Alok Industries has resumed talks with PE players to dilute 20% equity it owns in its unlisted unit, Alok Infrastructure.(ET)
Mercator Lines has chartered out a new offshore rig to a Singapore-based firm for US$93,000 per day for three years.(ET)
Good Luck

Disclaimer

The information in this publication is provided by http://www.moneybazzar.blogspot.com/ is intended for use for Readers & Traders . Every effort is made to provide accurate information, but http://www.moneybazzar.blogspot.com/ cannot guarantee the accuracy of the information or of the market analysis. This is a newsletter and is for informational purposes only. It is not a solicitation or offer to buy or sell futures. There is a high risk of loss in trading futures. You should not trade with money that you cannot afford to lose. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this newsletter. The past performance of any trading system or methodology is not necessarily indicative of future results.



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