Corporate News

Reliance Industries has received the government go-ahead to sign agreements with firms supplying the much-needed gas to households and car owners in major cities. (ET)

ONGC and Oil India provide support of Rs9.4bn in form of subsidy. (BL)

Tata Steel rules out stake sale in Teesside plant. (FE)

Bharti-Wal-Mart will open its first cash and carry store in India in Amristar, Punjab next week. (BS)

Bharti Airtel plans to open 1600 Airtel service centres in Tamil Nadu by end of this month followed by another 4000 such centres by end of March '10. (FE)

PGCIL is in talks with atleast 4 US companies to jointly bid for transmission contracts there. (Mint)

Grupo Mexico has bid US$1.6bn for Asarco to counter Sterlite's offer. (BS)

TCS expects its Asia-Pacific business to grow faster than the overall company. (BS)

Tata Motors is understood to have begun refunding dealers across the country for unsold Nano booking forms. (ET)

Tata Motors has raised Rs42bn through the issue of secured non-convertible debentures (NCD) in the local market. (ET)

Punjab National Bank to sell 26% stake in housing finance arm to Dawnay Day. (BL)

Reliance Power has bagged 4 hydro power projects of 2.5GW capacity worth over Rs180bn. (BS)

Reliance Infrastructure has achieved the financial closure of the Western Region System Strengthening power transmission project and a consortium of banks led by SBI will fund Rs9.7bn as debt. (BS)

Grasim puts its RMC investments plans at rest. (FE)

Sobha Developers and Mumbai-based HDIL are considering raising funds through QIP. (ET)

Aditya Birla Group may sell a stake in its loss-making retail venture to private equity firms Warburg Pincus, KKR and Goldman Sachs. (ET)

Tech Mahindra eyes 50% stake of VGE in Satyam's JV. (FE)

Unitech has sold an office space in Saket, New Delhi, for Rs5bn as part of a plan to raise money. (BS)

Telenor hikes stake in Unitech Wireless to 49%. (BL)

HCL Technologies has entered into outsourcing services engagement with MTV Networks. (BS)

Jain Irrigation bags Rs650mn order from Balh Valley Medium Irrigation project in Himachal Pradesh. (BL)

Pfizer Inc has inked pact with Claris Lifesciences to market off patent injectibles. (BS)

Government plans to divest 10% in BSNL once the new minister assumes office. (BS)

BSNL may reject Huawei's bid for the GSM line order for the western telecom circles. (BS)

KS Oil to get Rs4.5bn funding from PE investors, GDR and promoter funding for development, expansion and acquisition of agricultural assets in South East Asia. (BL)

Surya Roshni to complete its Rs6bn expansion by fiscal end. (BL)

Prolec GE announced that it has enhanced its stake in Indo Tech Transformers to 74.35%. (BL)

Texmaco bags 3,455 wagon orders from Railways. (BL)

Swan Telecom is set to outsource its IT and backoffice functions to Tech Mahindra and will award a network equipment deal to Ericsson. (ET)

NHPC, MMTC, BSNL and Oil India are some of the public sector firms that may be upgraded to navratna status ahead of their IPOs. (ET)

MTNL executives have called off their strike. (BS)

Merck board has approved Rs1.6bn buyback offer. (BS)

Air India board plans to raise Rs30bn to meet its working capital requirements among others. (BS)

MMRDA has invited pre-qualification bids for construction of the tallest building with 101 floors. (BS)

Source: Indiainfoline.com

Intraday Trading Calls for 21st May

Stock Market India may open negative and remains very volatile for the day today.

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

SCRIP NAME	TRIGGER	PRICE	TARGET 1	TARGET 2
IOC	Buy Above	463.65	470.50	480.00
	Sell Below	458.40	452.10	445.00
HPCL	Buy Above	284.25	290.35	300.00
	Sell Below	280.05	274.35	268.00
COMPACT DISC	Buy Above	48.70	52.25	55.00
	Sell Below	47.35	45.15	42.00
SELAN EXPLO	Buy Above	163.60	169.55	175.00
	Sell Below	160.40	156.35	152.00
F S L	Buy Above	21.50	23.25	25.00
	Sell Below	20.40	19.10	17.00
EKC	Buy Above	173.80	180.10	188.00
	Sell Below	169.70	165.15	160.00
CHAMBAL FERT.	Buy Above	61.20	63.75	67.00
	Sell Below	59.35	57.15	55.00

Keep an eye on MPHASIS ltd. (526299) CMP Rs. 273/- it can be hero of the day.

Short to Med. Term Delivery Buy:

Buy Excel Crop (532511) CMP Rs. 98/- Short Term Target Rs. 130/-.

GOOD LUCK

Corporate News

Government gives NTPC ultimatum to sign gas pact with RIL (BS)

Tata Motors raised Rs12.50bn by selling NCDs to LIC.(ET)

L&T, GE and Hitachi could tie-up to build nuclear reactors (BL)

Dr Reddy's to tap rural, north Indian markets for growth (BL)

Tech Mahindra may restate Satyam accounts for only one year. (ET)

Maruti hopes to exceed SIAM's industry growth projections (BL)

SBI in talks for guarantee sharing in Tata Motors' debenture issue (BS)

Infosys plans to stop home loan allowance for its employees (BL)

ABB Group has selected TCS for carrying out SAP ERP consolidation exercise (BL)

Punj Lloyd exits realty business, sells its 50% in Ramprastha JV. (ET)

Tata Steel gets Rs20bn loan from LIC. (ET)

BHEL likely to take up NTPC Barh projects if Russian firm that has bagged the order part ways. (FE)

TVS Motors has won the month's long legal battle against Bajaj Auto over using the twin spark plug internal combustion engine technology for its 125cc 'Flame'. (FE)

Unitech promoters to raise their stake by about 10% in the company by subscribing to warrants worth about Rs10bn over the next 18 months. (ET)

Idea to source equipment from Huawei worth Rs1bn. (ET)

JSW Steel may shut US mills for three months (BS)

Strike at M&M Nashik plant called off, company to re-start normal production in 2 days. (FE)

The 22-day strike at Nestle's Pantnagar factory in Uttarakhand was called off on Tuesday (BS)

UBI freezes home loan rate at 8% for one year (BS)

Bombay High Court allows Jet Airways to lease aircraft (BS)

Torrent Power takes on distribution in Kanpur (BS)

NIIT Tech to offer banking solutions to Tier-II banks (BS)

Srei Infra raises Rs10bn through NCDs (BS)

Source: indiainfoline.com

Intraday Trading Calls for 20th May

Stock Market India may open positive but very high volatility expected in today's trade.

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

SCRIP NAME	TRIGGER	PRICE	TARGET 1	TARGET 2
LANCO INFRA	Buy Above	314.70	320.15	328.00
	Sell Below	309.50	303.15	295.00
GMR INFRA	Buy Above	153.20	156.75	161.00
	Sell Below	151.40	147.35	142.00
INDIABULLS REALST	Buy Above	200.60	208.45	215.00
	Sell Below	198.25	193.45	188.00
SELAN EXPLO	Buy Above	158.60	164.35	170.00
	Sell Below	155.45	151.65	147.00
K S OILS	Buy Above	53.60	56.15	59.00
	Sell Below	52.40	50.10	48.00
REL POWER	Buy Above	163.25	167.55	172.00
	Sell Below	161.35	157.35	154.00
AREVA T&D	Buy Above	294.75	305.25	315.00
	Sell Below	290.10	282.75	275.00

Keep an eye on Asian Oilfield (530355) CMP Rs. 42.65/-.

GOOD LUCK

Corporate News

Private equity giant Kohlberg Kravis Roberts and Diageo likely to acquire 10% & 14.99%, respectively in United Sprits. (ET)

Amtek Auto has entered into Rs1bn JV (50:50) with Sumitomo Metals, which is part of Sumitomo Corporation of Japan. (ET)

Apollo Tyres has acquired Dutch tyre maker Vredestein Banden for an undisclosed sum. (ET)

Madras HC allows TVS to use Bajaj's patented technology. (BS)

The Tiruchirappalli unit of BHEL has asked its subcontractors to increase their capacity to 50% from the current 32% in order to achieve a turnover of Rs100bn for FY10. (BS)

Indiabulls Real Estate plans to raise US$600mn through qualified institutional placement of equity shares. (ET)

ONGC to float new tender for cancelled rig contract. (BS)

M&M workers call off a 15-day-long 'tool down' strike at Satpur plant in Nashik. (ET)

Maytas Infra wants IL&FS to increase its stake in the Hyderabad Metro Rail Project. (FE)

Coal India board has cleared the draft agreement for the proposed fuel supply agreement with NTPC and other power utilities. (FE)

KS Oils plans to raise Rs4.5bn from a PE companies and promoters. (ET)

Aditya Birla Nuvo will allot 18.5mn convertible warrants to its promoters for Rs10bn. (ET)

MRF has declared lockout at its Arakonam plant in Tamil Nadu, effective from May 17, 2009. (FE)

Tata Motors will give performance-linked wage hikes to its employees in FY10. (BL)

The Switzerland based Oetiker Group, a supplier of clamps for Tata Nano has set up a unit in Patalganga near Mumbai. (FE)

Source: Indiainfoline.com

Intraday Trading Calls for 19th May

Stock Market India may open positive but some profit booking can be seen at higher levels.

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

SCRIP NAME	TRIGGER	PRICE	TARGET 1	TARGET 2
ITI	Buy Above	30.10	33.15	36.00
	Sell Below	28.70	26.25	24.00
GMR INFRA	Buy Above	137.80	142.15	146.00
	Sell Below	135.40	131.20	126.00
EKC	Buy Above	166.40	171.35	175.00
	Sell Below	164.20	160.15	155.00
CAIRN INDIA	Buy Above	217.50	222.45	228.00
	Sell Below	214.35	209.65	205.00
CORE PROJECT	Buy Above	117.50	121.35	126.00
	Sell Below	114.70	110.35	106.00
HMT	Buy Above	53.25	56.15	60.00
	Sell Below	51.70	48.35	45.00
NTPC	Buy Above	211.60	216.75	222.00
	Sell Below	209.40	205.35	200.00

GOOD LUCK

Stock Idea: PFC

A Navaratna PSU, Power Finance Corporation (PFC) reported a steady growth in its standalone net profit for the second quarter ended September 2008. During the quarter, the profit of the company rose 16.69% to Rs.329.33 crore. Operating income for the quarter rose 29.12% to Rs.1584.98 crore, while total income for the quarter rose 30.51% to Rs.1602.11 crore, when compared with the prior year period. The company posted EPS of Rs.2.87 during the quarter, registering 16.67% growth over prior year period.

Net Profit for the current quarter was impacted by exchange loss of Rs.86.06 crore and it also received an income Tax refund of Rs.27.87 crore

PFC had tapped the primary market in 2007 with a Rs.997.19 crore issue. It was priced at Rs85 per share and got listed at Rs.113. Today it is quoted at around Rs.170 levels, which continues to remain a very good deal for the original shareholders even now, even in this market.

The company has plans to raise Rs.300- Rs.400 crore through a bond issue with a green shoe option. This was to have happened in November 08' but it yet to see the light of the day, obviously the market conditions is making PFC do a rethink.

PFC is the dominant investor in the country's power sector, funding about 20% of the projects. PFC has been designated as a nodal agency by the union government for facilitating the development of UMPPs and with six more UMPPs to go, PFC seems to have its work all chalked out! Power is one of the sectors which is expected to get the maximum impetus and irrespective of any slowdown or inflation, the growth of this sector will continue relentlessly. PFC remains a good stock in the portfolio.

Source: www.premiuminvestments.in (By S P Tulsian)