Stock Idea: Mcnally Bharat Engineering

Emkay Research has maintained its buy rating on Mcnally Bharat Engineering with a target price of Rs 255 in its June 17, 2008 research report. "We continue to maintain a positive view on MBE considering its presence in all industry verticals with varied product and solutions offerings. We believe that MBE with its all round capabilities will be a principal beneficiary of ongoing investment supercycle."
"Our core argument of (1) changing order book mix in favor of steel and mineral vertical and (2) aggression in product business are playing out, thus reinforcing our positive stance. At CMP of Rs 149, the stock is trading at 17.1X FY2008, 11.0X FY2009E and 7.8X FY2010E earnings of Rs8.7, 13.5 and 19.1 per share respectively (standalone earnings). We maintain our BUY rating with a target price of Rs 255," says Emkay's research report.

Stock Idea: Godawari Power & Ispat

Hem Securities has recommended a buy rating on Godawari Power & Ispat with a target price of Rs 371 in its June 17, 2008 research report. "The company stands waiting for forest clearance for the iron ore mines and once is through with the clearance shall boost the position of the company. The presently proposed JV with Ardent Steel shall also be a step forward towards strengthening of the company".
"GPIL has grown with a CAGR of 68.73% and 57.96% in its top line as well as bottom line from FY05 to FY08. The stock at the current market price of Rs 200 trades at 5.91 times to its earning per share of Rs 33.84 and 1.46 times to its book – value of Rs 136.83. The stock looks attrac-tive at the current valuation with the strong upside potential in the medium to long term investment horizon. Therefore, we are initiating ‘BUY’ signal on the stock with the target price of Rs 371 which is approximately 86% up from the current market price of Rs 200," says Hem's research report.

Markets Today

Markets Snapshot
Markets slide in the 2nd part of day on back of European jitters
Reports that Royal Bank of Scotland analysts are telling clients to prepare for a crash in world stock & credit markets during the next 3 months
Sensex ends down 275 pts at 15422; Nifty ends down 70.6 pts at 4582.4
CNX Midcap Index down 1%, BSE Small-cap Index ends flat
BSE Bank Index down 3.5%; ICICI Bank down 4.1%, HDFC Bank down 3.7%
BSE Realty Index down 3.5%; DLF, Unitech down 3%
Index Losers; HCL Tech down 4.5%, Tata Steel down 3.3%, L&T down 3.2%, Tata Comm down 3%
Index Gainers; Ambuja Cem up 3.7%, Zee Ent up 3.4%, Ranbaxy up 2.7%
Buzzers; SRF up 10.3%, Cambrideg Sol up 20%, Andrew Yule up 20%, PTC India up 5.5%
Media Buzzers; NDTV up 11.5%, Raj TV up 11.9%, Midday up 9.5%, TV Today up 14.5%
Losers; Bank of Mah down 6.5%, Vaibhav Gems down 7.1%, Ibulls Real down 6.5%, Unichem Lab down 8.5%
NSE Advance Decline at 5:7
Total market turnover at Rs 65956 cr Vs Rs 58912 cr on Tuesday
F&O turnover at Rs 47440 cr Vs Rs 42624 cr on Tuesday
F&O Snapshot
Nifty Fut sees short rollover; June trades at 10-20 point discounts
Nifty Fut July at 25 point discount
Unwinding seen in Momentum stocks in latter half
Fertilizer stocks see long unwinding
Cement stocks sees fresh long build up
Star Trade: NDTV up 11.65 ; adds 1.5 lakh shares Ambuja Cem up 4.2%; adds 15.7 lakh shares
Fresh Shorts:IFCI dn 4.8%; 12.9 lakh shares Unitech dn 3.6 %; adds 9.9 lakh shares SAIL dn 3.6 %; adds 8.9 lakh shares ICICI Bank dn 4.1 %; adds 7.4 lakh shares DLF dn 3.4%; adds 6.9 lakh shares
Long Unwinding:Nagarjuna Fert dn 4.8%; sheds 12 lakh shares Chambal Fert dn 4.4%; sheds 12 lakh shares Praj dn 4.85; sheds 12 lakh shares
Long Build up:Ranbaxy up 2.5%; adds 6.5 lakh shares Zee Ent up 3.5%; adds 5.5 lakh shares
Roll Overs pick Up: NDTV 53% IDBI 19% Power Grid 16% NTPC 15%Unitech 14% Ranbaxy 14%

Source: moneycontrol.com

Intraday Trading Calls for 18th June

Indian stock Market may see some profit booking at higher levels but remains flat for the day today. A flat to nagetive closing expected.

Today's Intraday Stock Tips/ Trading Calls:

RCOM
CROMPTON GREAVES
SATYAM COMPUTER
GMR INFRA
ANSAL INFRA
PFC

For Levels and Targets CLICK HERE.

Today's Watch List: RPL, Nav Bharat Venture, Escorts Ltd. may see a good rally today.
Future Call: Buy Cipla June Future around 215-218/- For Target 230+ SL 210.

Good Luck