Intraday Trading Calls for 07th May

Stock Market India may open Positive but remains positive with very high volatility.

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

SCRIP NAME	TRIGGER	PRICE	TARGET 1	TARGET 2
KALINDI RAIL NIRMAN	Buy Above	108.25	113.10	118.00
	Sell Below	106.40	102.50	98.00
MICRO TECHNOLOG	Buy Above	95.60	100.25	106.00
	Sell Below	93.35	90.10	86.00
TATA ELXSI	Buy Above	118.65	123.40	128.00
	Sell Below	116.35	112.10	108.00
REL POWER	Buy Above	136.50	140.10	144.00
	Sell Below	134.40	130.45	127.00
CAIRN INDIA	Buy Above	202.75	208.10	214.00
	Sell Below	199.50	195.25	190.00
HOEC	Buy Above	88.25	91.35	95.00
	Sell Below	87.20	85.10	82.00
IRB INFRA	Buy Above	101.80	107.40	112.00
	Sell Below	99.40	95.55	91.00

Short to Med. Term Delivery Buy:

Buy PBA INFRA (532676) CMP Rs. 33/- Short Term Target Rs. 45/-.

GOOD LUCK

Corporate News

Tata Sons sells 1% in TCS to raise funds for the JLR deal. (ET)

ONGC has added a record 284mt of oil and gas reserves in FY09, the highest addition by the company in the past 18 years. (BS)

Workers at M&M's Nashik plant have gone on an indefinite 'tools down' strike, denting the company's revenue by Rs250mn a day. (BS)

ICICI Bank has scaled down its overseas operations, especially in the United States and Sri Lanka. (BS)

PNB decided not to lend below benchmark PLR. (ET)

ICAI raises apprehension about accuracy of audited financial statements of Allahabad Bank, Vijaya Bank and Central Bank. (ET)

SBI to provide Rs5bn loan to Kingfisher Airlines. (ET)

ITC grabs 11% on the national biscuit market. (ET)

Supreme Court upheld the PPA by Tata Power with BEST, setting aside an earlier petition filed by Reliance Infra. (ET)

Wockhardt to sell its animal healthcare business for up to Rs1.5bn. (ET)

RIL has started selling diesel from its Jamnagar refinery to PSU companies. (FE)

SAIL, Essar Steel and JSW Steel ask government to immediately impose safeguard duty on cheap imports of HR coils. (ET)

BHEL achieved ~20% of its FY09 turnover by commercialization of products and systems developed by the in-house research and development efforts. (BL)

Nalco plans to use sophisticated technologies, which do not require explosives, for the extraction of bauxite from Panchpatmali mines. (BS)

SBI entered into an agreement with telecom firm Tata Communications Ltd and C-Edge for the roll-out and management of 500 ATMs. (BS)

Suven Lifescience has received US FDA approval for its second API plant. (FE)

NHPC is taking up projects worth Rs450bn in Myanmar, Bhutan. (BL)

McNally Bharat signed a MoU with KHD Humboldt Wedag International GMBH to buy German co's engineering and mineral technology business. (BL)

Gujarat Gas looks at LNG option to enhance sales. (BL)

Patni Computer is evaluating acquisition in the area of BPO and Infrastructure management services. (ET)

Essar Steel will invest Rs10bn on steel processing unit in India, Middle East and North America. (ET)

Bombay High Court has reserved its order in the dispute between Jet Airways and Sahara Airlines over income tax liability. (ET)

Loop Telecom says it has not violated telecom norms and Essar Group holding in it is full compliant with licensing conditions. (ET)

Tata Housing to offer value homes under the 'Shubh Griha project. (ET)

Intraday Trading Calls for 06th May

Stock Market India may open flat to Negative but remains flat with very high volatility.

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

SCRIP NAME	TRIGGER	PRICE	TARGET 1	TARGET 2
INDIABULLS REALEST	Buy Above	140.75	145.10	150.00
	Sell Below	138.40	134.15	129.00
SCI (523598)	Buy Above	90.70	95.10	100.00
	Sell Below	88.60	85.35	81.00
CORE PROJECTS	Buy Above	104.25	109.40	115.00
	Sell Below	102.70	98.35	93.00
REL POWER	Buy Above	136.75	140.10	144.00
	Sell Below	134.40	130.45	127.00
ICSA (531524)	Buy Above	130.80	135.25	140.00
	Sell Below	128.60	124.35	120.00
PRISM CEMENT	Buy Above	28.60	30.55	33.00
	Sell Below	27.50	26.10	24.50
HYD INDUSTRIES (509675)	Buy Above	187.60	192.15	198.00
	Sell Below	184.50	180.25	176.00

Keep an Eye on Electrosteel Casting (500128) CMP Rs. 23/- for Intraday.

GOOD LUCK

Stock Idea: Bank of Baroda

For all the doomsday predictors, this financial performance of Bank of Baroda for the year ended 31st March 2009 would have come like a cruel joke. Despite the slowdown and the various predictions of rising NPAs, this bank has done very well for itself.

The Bank’s total Income grew 28.7% at Rs.17,849.24 crore in 2008-09. Of this, Interest Earned on Advances increased by 33.1% (y-o-y), non-interest income increased by 34.5%, its fee-based rose by 39.5%. The Bank’s recovery from Prudentially Written off Accounts stood at Rs.263.15 crore in 2008-09. Operating Profit was up 47% at Rs.4,305.00 crore.
Net Profit of the Bank in 2008-09 was Rs.2,227. 20 crore, up 55.2%. What is noteworthy is that net profit for Q4 was up by a whopping 172% at Rs.752.69 crore.

Provisions and Contingencies (including tax provisions) for the Bank have increased by 39.2% primarily due to higher provisions for depreciation on investments (both international & domestic equity books) and higher provisions against the NPAs.

Total deposits increased by 26.6% to Rs.1,92,397 crore on March 31, 2009 while total advances have increased by 34.9% to Rs.1,43,986 crore. Bank’s Capital Adequacy Ratio was at 14.05% (as per Basel II) at end-March 2009. Net Worth grew by 19.5% (y-o-y) and reached the level of Rs.11,387.19 crore. Gross NPAs of the Bank have come down to Rs.1,842.92 crore as on March 31, 2009, reflecting a reduction of 7%. Net NPAs too have declined from 0.47% at end-March 2008 to 0.31% at end-March 2009. Its Loan Loss Coverage stood at 75.52% on 31stMarch 2009. The Bank restructured a total number of 40,423 accounts during 2008-09 amounting to the total outstanding of Rs.2,659 crore. Of these, 38.3% belonged to wholesale, 31.5% to SME, 18.9% to retail and 11.3% to agriculture sector.

As on 31/03/09, the Bank had a domestic branch network of 2226 of which 73 were added during FY09. Total count of ATMs stands at 1179. In FY10, it proposes to add 168 new branches.
At the current rate and in the current time, BoB remains a good buy.

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

Intraday Trading Calls for 05th May

Stock Market India may open flat to Positive and may see some profit booking at mid-session but it may close flat to positive 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
HDIL	Buy Above	158.60	162.55	167.00
	Sell Below	156.40	152.10	148.00
ALEMBIC PHARMA	Buy Above	42.20	45.30	48.00
	Sell Below	40.75	38.25	36.00
HOEC	Buy Above	85.75	88.40	91.00
	Sell Below	84.40	81.65	78.00
REL POWER	Buy Above	128.20	132.15	136.00
	Sell Below	125.70	122.35	118.00
TATA ELXSI	Buy Above	118.65	123.45	128.00
	Sell Below	116.15	112.25	107.00
POLARIS (532254)	Buy Above	72.70	76.25	80.00
	Sell Below	71.35	68.55	65.00
GMR INFRA	Buy Above	117.25	121.35	126.00
	Sell Below	115.05	112.10	108.00

GOOD LUCK

Intraday Trading Calls for 04th May

Stock Market India may open flat to Positive and may see high volatility at mid-session but it may close flat to positive 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
GODREJ CONSUMER (532424)	Buy Above	137.75	141.65	146.00
	Sell Below	135.40	132.10	128.00
SKF (500472)	Buy Above	180.25	185.10	190.00
	Sell Below	178.35	174.20	169.00
CAIRN INDIA	Buy Above	186.20	192.15	198.00
	Sell Below	184.35	180.20	176.00
AREVA T&D	Buy Above	220.60	227.10	234.00
	Sell Below	216.20	210.35	202.00
TATA ELXSI	Buy Above	110.25	115.30	121.00
	Sell Below	108.40	105.05	101.00
ZYLOG (532883)	Buy Above	161.50	166.20	172.00
	Sell Below	158.70	154.50	150.00
TATA STEEL	Buy Above	240.60	247.60	254.00
	Sell Below	235.40	230.10	224.00

Short to Medium Term Delivery Pick:

Buy TATA ELXSI (500408) CMP Rs. 109/- Target Rs. 135/-.

GOOD LUCK

Investment Pick: Noida Toll Bridge

Noida Toll Bridge had posted better results for year ending 31st March 09 with total income at Rs.79.21 crores against Rs.66.39 crores of FY 08. PBT improved to Rs.39.86 crores against Rs.31.78 crores, inspite of a drop in other income to Rs.1.14 crores in FY 09 against Rs.5.50 crores of FY 08. Interest liability for the year, remained stagnant at Rs.14.92 crores againstRs.14.87 crores, of FY 08.

Average daily traffic in FY 09 rose to 99,734 vehicles against 84,261 vehicles in FY 08, registering a growth of 18%. Since, the company collects toll from each vehicle, its income for the year also rose by 19% in FY 09. Average traffic on Mayur Vihar Link, for FY 09, was at 12,350 vehicles per day while it was at 13,632 vehicles in March 09, quarter, showing a case of rising trend of vehicles using it.

PAT of the company, for FY 09 is placed at Rs.33.69 crores (Rs.27.98 crores) resulting in an EPS of Re.1.81 for FY 09. The company adopted guidance note on “Accounting for Service Concession Agreement” issued by ICAI, whereby, Delhi Noida Link Bridge, which was earlier shown as fixed assets, is now shown as intangible asset w.e.f. 01-04-08. Intangible asset is shown at cost, being fair value of construction services. Due to this change, depreciation for FY 09 is lower by Rs.4.97 crores, thus increasing profit to that extent. Earlier, when it was taken as fixed assets, depreciation was provided on straight line method taking life of 62 years, but now, estimated useful life of bridge has been considered as 100 years and intangible assets is amortized over the same life.

Apart from this, the income flow of the company will come from development rights of 235 acres of land, of which, 200 acres are at Noida side while 35 acres at South Delhi side.

Share now ruling at Rs.27 translates into a market capitalization of just Rs.500 crores and even considering debt, the enterprise value works out to, less than Rs.700 crores. Once, the company is able to get clearance of land development, we will see good rise in share price from Rs.27. Advised to hold and even buying can be made at the current levels with 6 months view.

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