Corporate News

ONGC's deep-sea project in Brazil has begun crude oil production (BS)

NTPC has signed MoUs with Chattisgarh Government for setting-up a 4,000MW power project
(BL)

RIL has sent its first shipment of petrol from Jamnagar new refinery to New York (FE)

Tata Group to rejig its budget hotel brand, Ginger, by divesting unviable properties and adopting a flexible pricing strategy (ET)

Tata Motors to deliver first batch of Nano by July-end (ET)

M&M unveiled a new pick-up vehicle, Bolero MaxiTruck, replacing its three-year old Maxx MaxiTruck (ET)

Tata Motors-owned JLR has announced 300 fresh job cuts at its Halewood plant (BS)

MERC
stays tariff hike announced by Reliance Infrastructure (ET)

Tech M has set-up a BPO centre in Kolkata (BS)

Dabur eyes acquisition up to Rs5bn in healthcare
(BS)

Tata Teleservices is eying a majority stake in Matrix Cellular Services (ET)

Essar Oil plans to expand its retail fuel outlet network to 1,500 by the end of this year (BL)

Reliance Big Entertainment, a ADAG Group company, has sealed initial funding of US$825mn for its JV with Dreamworks (ET)

MTNL has invited bids from international firms to run its 3G mobile services (ET)

IDBI plans rights issue to bolster capital base
(BS)

Godrej Properties, the real estate arm of Godrej Group, receives SEBI's approval for IPO (ET)

JSL acquires chrome ore assets in Turkey (ET)

Jet Airways and Sahara have failed to settle tax dispute out-of-court (FE)

3i Infotech will buy the entire 49% stake of Elegon Infotech from Yucheng Technologies, its JV partner in China
(BS)

Panacea Biotech along with two other companies has received the nod to develop swine flu vaccine (ET)

Source: indiainfoline.com

Intraday Trading Calls for 16th July

Stock Market India may open positive and remains positive for the day today but high volatility may also be there.

Today's Intraday Stock Tips / Trading Calls (Keep strict Stop Loss for Each Trade):

SCRIP NAME	TRIGGER	PRICE	TARGET 1	TARGET 2
ASTRA MICRO (532493)	Buy Above	76.75	81.25	85.00
	Sell Below	75.10	72.15	68.00
MICRO TECH (532494)	Buy Above	119.25	124.45	130.00
	Sell Below	117.15	113.40	108.00
VIDEOCON INDUSTRIES	Buy Above	164.55	170.10	176.00
	Sell Below	162.40	158.15	152.00
HIND OIL EXPLO	Buy Above	115.10	120.40	125.00
	Sell Below	112.50	108.35	104.00
TATA STEEL	Buy Above	382.75	394.25	410.00
	Sell Below	376.35	368.10	355.00
WELSPUN GUJARAT	Buy Above	205.75	211.35	218.00
	Sell Below	202.40	197.35	192.00
KS OILS	Buy Above	52.25	54.60	58.00
	Sell Below	50.55	48.35	46.00

Keep An Eye on Essar Shipping (500630), GE Shipping (500620), Varun Shipping (500465) for today's trade.

GOOD LUCK

Stock Idea: Ind-Swift Lab, Tantia Construction

Ind-Swift Laboratories Ltd. (Code: 532305) (Rs.40)
reported satisfactory results for Q4FY09. Sales grew by 20% to Rs.148 cr. but net profit remained flat at Rs.11 cr. posting an EPS of little over Rs.4 for the quarter. Accordingly for entire FY09, its sales jumped up 30% to Rs.588 cr. and profit increased by 10% to Rs.35 cr. After considering one-time extraordinary expense of Rs.5 cr. Thus the company reported an EPS of Rs.16 on its current equity of Rs.25 cr. Notably, the company has started exporting to USA after obtaining USFDA approval in September 2007 for its API manufacturing facility for Clarithromycin at Derabassi Punjab. Exports constitute around 40% of sales with its presence in 45-50 countries. For future growth, the company has a robust product pipeline of 25 products, which includes few blockbuster drugs as well. It has successfully filed over 72 DMFs with the US, Canadian, UK and European drug authorities. The company has been aggressively expanding its capacity and has enhanced its gross block by almost five times to Rs.470 cr. from Rs.100 cr. in 2005. With a healthy book value of Rs.97, the scrip is trading relatively cheap at a P/E ratio of just 2.5 times. However, high debt: equity ratio is a cause of concern.

Tantia Construction Ltd. (Code: 532738) (Rs.65)
has posted an excellent performance by clocking an impressive 15% operating margin and is registered 160% jump in net profit at Rs.12.50 cr. although its topline was flat at Rs.169 cr. For entire FY09, its PAT improved by 12% to Rs.17.25 cr. while revenue increased by 25% to Rs.450 cr. recording an EPS of Rs.11 on its equity of Rs.15.57 cr. This stupendous performance is backed by a good orders in the last few months and its current order book position stands healthy at Rs.1500 cr., which is more than 3 times its FY09 turnover and gives strong future revenue visibility. The company constructs roads and highways, railways, tunnels, bridges & flyovers, urban infrastructure, sewerage and drainage, civil & housing construction etc. Lately, it also ventured into the lucrative marine infrastructure space, into power transmission and distribution segment and aviation infrastructure. In fact, it is among the five Indian companies capable of providing 'foundation-to-finish' for mega railway bridges spanning 2-km or more. Importantly, it has a very strong presence in the eastern and north-eastern regions, which gives it a distinct edge, as very few players are interested in bidding in these regions due to the difficult terrain. With Mamata Banerjee as the Railway Minister, a special fund has been created for development of North Eastern railway in the Railway Budget presented on Friday, 3 July 2009. This augurs well for the company as its forte lies in railway infrastructure. A decent bet for the long-term.

Source: Internet (Moneytimes)