31-07-2008 Corporate Annoncements
ONGC Videsh Ltd (OVL), the overseas arm of state-run Oil and Natural Gas Corporation (ONGC), is believed to be close to make a $2.5 billion bid to takeover Russia-focused oil company Imperial Energy.Imperial Energy is an upstream oil and gas exploration and production company focused on the Commonwealth of Independent States, and has oil producing blocks in Tomsk region of western Siberia in Russia and Kastanai in north-central Kazakhstan.
ABB bags Rs 455-cr Vedanta order : ABB India has bagged an order worth Rs 455 crore for power, automation systems from Vedanta Aluminium Ltd for the expansion of their aluminium smelter plant at Jharsuguda in Orissa.ABB will design, supply, build and commission 24 sets of high power diode rectifier systems for four .
M&M drives away with Kinetic for Rs 110 crore: Mahindra & Mahindra signalled its entry into the two-wheeler segment by agreeing to buy the assets of Kinetic Motor Company for Rs 110 crore. M&M will buy the assets through a new company called Mahindra Kinetic Scooters and Motorcycles, which will own the assets of the Pune-based Kinetic Motor. M&M will own 80% of the new company.
Indiabulls Power Services to set up project in MP : Indiabulls Power Services, a subsidiary of Indiabulls Real Estate on Wednesday said it will set up a 2640 MW power project in Madhya Pradesh. The power project would be set up in two stages of 1,320 MW each. According to the MoU, the government would facilitate and extend "all reasonable help and assistance to IPSL for setting up the project.
Reliance refinery trial runs by Sept: Reliance Industries plans to test-run its new refinery by September and has already started filling its tanks with Saudi crude oil, a top company official said. additional Saudi crude would feed the new 580,000 barrels per day (bpd) refinery being built by subsidiary Reliance Petroleum adjacent to an existing 660,000-bpd plant at Jamnagar in western India.
CESC signs pact with Bihar Govt for 2,000 MW power plant: CESC Ltd has entered into a memorandum of understanding with the Government of Bihar to set up a 2,000-MW power plant in the State’s Bhagalpur district at an investment of Rs 10,000 crore, according to Mr Sanjiv Goenka, Vice-Chairman of the company. It would be set up in two phases under a 100 per cent subsidiary. In the first phase, a 660-MW plant would be set up at an investment of Rs 3,250 crore. In the second phase, two plants of 660-MW capacity each would be set up. The Union Ministry of Coal has been approached for facilitation of coal linkages or allotment of captive mines.
Britannia to invest Rs 100 cr in biscuit units: Britannia Industries Ltd will invest nearly Rs 100 crore at its biscuit manufacturing units across the country this year. The investment would be used for capacity expansion and procurement of new machinery at its existing plants.
Lupin acquires Hormosan of Germany: Lupin Ltd has acquired Germany’s Hormosan Pharma GmbH, a sales and marketing generics company that specialises in supplying Central Nervous System (CNS) medicines, at an undisclosed sum.
Discontinuation of F& O Contracts on the underlying Sun TV Limited (scrip code 532733): In accordance with the guidelines laid down by SEBI on the Eligibility Criteria for stocks, the underlying Sun TV Ltd has ceased to fulfill the eligibility requirement. In view of the above, derivatives contracts for the far month i.e. October 2008, will not be introduced on the underlying Sun TV Ltd. upon expiry of July 2008 contract i.e. on July 31, 2008. Also, no fresh contract month would be issued thereafter in respect of the above mentioned underlying.
Thursday, July 31, 2008
31-07-2008 Market Today
SENSEX (Close- 14287.21)
We have seen a strong rebound after credit policy shock. Better part of last trading session that it has moved above 14000 marks only. I have already talked about the move towards 14500 in recovery. For medium term Sensex will trade in a range only. It would not be directive call of up or down. Stock specific action is expected. Till now buying was focused on key blue-chip stocks. Technically there are few stocks which are ready for a moderate up side. I am not betting anything on mid cap stocks as it will be too early to take any call on this pack. Caution required if you are buying mid cap stocks.
Support - 14189/14065/13940
Resistance - 14480/14650/14800
NIFTY (Close- 4313.55)
Nifty has closed above crucial level of 4300. Technical levels suggests that it should take a move towards 4400+ levels. Most crucial levels to watch for is still too far i.e. 4500 marks. Its too early to say about stability but let us see.
Support - 4280/4238/4180
Resistance - 4345/4378/4409
We have seen a strong rebound after credit policy shock. Better part of last trading session that it has moved above 14000 marks only. I have already talked about the move towards 14500 in recovery. For medium term Sensex will trade in a range only. It would not be directive call of up or down. Stock specific action is expected. Till now buying was focused on key blue-chip stocks. Technically there are few stocks which are ready for a moderate up side. I am not betting anything on mid cap stocks as it will be too early to take any call on this pack. Caution required if you are buying mid cap stocks.
Support - 14189/14065/13940
Resistance - 14480/14650/14800
NIFTY (Close- 4313.55)
Nifty has closed above crucial level of 4300. Technical levels suggests that it should take a move towards 4400+ levels. Most crucial levels to watch for is still too far i.e. 4500 marks. Its too early to say about stability but let us see.
Support - 4280/4238/4180
Resistance - 4345/4378/4409
Wednesday, July 30, 2008
30-07-08 Corporate News
Corporate News/ : Announcements:
Inflation vaccine from Dr Reddy: The Reserve Bank of India yesterday announced fresh monetary tightening measures that are set to raise interest rates by around 50 basis points. This will make home and auto loans more expensive besides impacting the growth targets and fresh expansion plans of corporate India. In the first quarter review of the Annual Statement on Monetary Policy, released this afternoon, RBI raised the repo rate, or the rate at which it lends, 50 basis points to 9 per cent, the third increase in two months. In addition, the cash reserve ratio, or the proportion of deposits that bank set aside, will go up another 25 basis points to 9 per cent. This will suck out around Rs 8,500 crore from the system.
Taj Hotels forays into high-end business globally: The Taj Group of Hotels, owned by the Tata Group, is foraying into high-end business and luxury segments globally.Taj has entered business gateways such as New York, Boston and Sydney, whereas Taj Resorts and Spa is concentrating on leisure travel in exotic destinations including Phuket, Doha and Saraya islands of UAE.
L&T, Punj Lloyd join team for $200-b Al Noor project: Two Indian firms, Larsen & Toubro and Punj Lloyd, figure in the list of several international companies that have teamed up to implement the multibillion dollar construction project to be complete with two new modern cities, one each near Djibouti and the other at Yemen, and a massive rail-road-pipeline network across the Red Sea, connecting the two cities.
HCC team bags AP contract: A Hindustan Construction Company-led consortium has bagged a contract from the Andhra Pradesh Government for constructing a 3.5-km barrage across river Pranahita, near Tummidi Hetti village, in Adilabad district of the State. The joint venture partners of HCC are SEW Infrastructures Ltd and Megha Engineering & Infrastructures Ltd. HCC share in the order is worth Rs 326.03 crore.
Essar Oil to go ahead with Vadinar capacity expansion: Essar Oil may achieve the financial closure of its proposed capacity augmentation project at Vadinar refinery in the next two weeks. Bulk of the $4-billion loan finance is already tied-up and the financial closure is expected to be achieved in a week or 10 days of time. The $6-billion project envisages enhancing the refinery capacity from 10.5 million tonnes (mt) to 34 mt in 2010.
Rolta buys WhittmanHart : Rolta India has acquired the US-based business intelligence vendor WhittmanHart Consulting for an undisclosed amount. According to the company sources This acquisition is in keeping with our declared strategy of acquiring technologies and skills that help our clients get greater returns from their investments in enterprise solutions and services from Rolta.
Listing of equity shares of Birla Cotsyn (India) Ltd: With effective from July 30, 2008, the equity shares of Birla Cotsyn (India) Ltd (Scrip Code: 533006) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. Issue Price Rs. 14/- per share. (Face Value of Rs.10/- and premium of Rs. 4/-).
Inflation vaccine from Dr Reddy: The Reserve Bank of India yesterday announced fresh monetary tightening measures that are set to raise interest rates by around 50 basis points. This will make home and auto loans more expensive besides impacting the growth targets and fresh expansion plans of corporate India. In the first quarter review of the Annual Statement on Monetary Policy, released this afternoon, RBI raised the repo rate, or the rate at which it lends, 50 basis points to 9 per cent, the third increase in two months. In addition, the cash reserve ratio, or the proportion of deposits that bank set aside, will go up another 25 basis points to 9 per cent. This will suck out around Rs 8,500 crore from the system.
Taj Hotels forays into high-end business globally: The Taj Group of Hotels, owned by the Tata Group, is foraying into high-end business and luxury segments globally.Taj has entered business gateways such as New York, Boston and Sydney, whereas Taj Resorts and Spa is concentrating on leisure travel in exotic destinations including Phuket, Doha and Saraya islands of UAE.
L&T, Punj Lloyd join team for $200-b Al Noor project: Two Indian firms, Larsen & Toubro and Punj Lloyd, figure in the list of several international companies that have teamed up to implement the multibillion dollar construction project to be complete with two new modern cities, one each near Djibouti and the other at Yemen, and a massive rail-road-pipeline network across the Red Sea, connecting the two cities.
HCC team bags AP contract: A Hindustan Construction Company-led consortium has bagged a contract from the Andhra Pradesh Government for constructing a 3.5-km barrage across river Pranahita, near Tummidi Hetti village, in Adilabad district of the State. The joint venture partners of HCC are SEW Infrastructures Ltd and Megha Engineering & Infrastructures Ltd. HCC share in the order is worth Rs 326.03 crore.
Essar Oil to go ahead with Vadinar capacity expansion: Essar Oil may achieve the financial closure of its proposed capacity augmentation project at Vadinar refinery in the next two weeks. Bulk of the $4-billion loan finance is already tied-up and the financial closure is expected to be achieved in a week or 10 days of time. The $6-billion project envisages enhancing the refinery capacity from 10.5 million tonnes (mt) to 34 mt in 2010.
Rolta buys WhittmanHart : Rolta India has acquired the US-based business intelligence vendor WhittmanHart Consulting for an undisclosed amount. According to the company sources This acquisition is in keeping with our declared strategy of acquiring technologies and skills that help our clients get greater returns from their investments in enterprise solutions and services from Rolta.
Listing of equity shares of Birla Cotsyn (India) Ltd: With effective from July 30, 2008, the equity shares of Birla Cotsyn (India) Ltd (Scrip Code: 533006) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. Issue Price Rs. 14/- per share. (Face Value of Rs.10/- and premium of Rs. 4/-).
30-07-2008 Market Today
Break below 4149 heavy further selling will be seen.
4250 & 4305 are solid resistances now.
BSE index: (13792) Consider 14019 a nearest & 14153 a solid resistance, keep stop loss of 14220 to your sales.
Downward side it'll fall down further to 13710 & 13639 initially.
Break below 13639 it'll heavily fall down further to 13463 & 13301.
Nifty: (4190) It'll fall down further to 4149 initially which is a crucial support to watch out for.
Break below 4149 heavily fresh selling will underway & it'll crash down to 4083, 4035 & 3957.
Upward side 4220 a nearest & 4250 a solid resistance, sell or remain short keeping stop loss of 4306.
4250 & 4305 are solid resistances now.
BSE index: (13792) Consider 14019 a nearest & 14153 a solid resistance, keep stop loss of 14220 to your sales.
Downward side it'll fall down further to 13710 & 13639 initially.
Break below 13639 it'll heavily fall down further to 13463 & 13301.
Nifty: (4190) It'll fall down further to 4149 initially which is a crucial support to watch out for.
Break below 4149 heavily fresh selling will underway & it'll crash down to 4083, 4035 & 3957.
Upward side 4220 a nearest & 4250 a solid resistance, sell or remain short keeping stop loss of 4306.
Tuesday, July 29, 2008
29-07-2008 Stocks to Watch
RIL: (2179) 2189 a solid resistance. Break below 2105 fresh selling will be seen.
RCOM: (512) Sell. Break below 499 heavy selling will underway.
REL INFRA: (987) Break below 960 heavy fresh selling will underway. 1032 & 1065 solid resistances.
SBI & PNB: Sell.
ICICI Bank: (664) 646 & 622 crucial supports. Break below 622 fresh selling will be seen.
Upward side 668 & 690 solid resistance & trend decider.
KOTAK Bank: (578) 564 a crucial support & 545 a trend decider. Crossover above 584 up surges will be seen.
L&T: (2724) 2699 a nearest support & 2600 a trend decider. Crossover above 2800 up surges will be seen.
BHEL: (1649) 1610 & 1745 crucial trend deciders.
TISCO, STERLITE, HINDALCO, NALCO & JINDAL STEEL: Looks weak.
RCOM: (512) Sell. Break below 499 heavy selling will underway.
REL INFRA: (987) Break below 960 heavy fresh selling will underway. 1032 & 1065 solid resistances.
SBI & PNB: Sell.
ICICI Bank: (664) 646 & 622 crucial supports. Break below 622 fresh selling will be seen.
Upward side 668 & 690 solid resistance & trend decider.
KOTAK Bank: (578) 564 a crucial support & 545 a trend decider. Crossover above 584 up surges will be seen.
L&T: (2724) 2699 a nearest support & 2600 a trend decider. Crossover above 2800 up surges will be seen.
BHEL: (1649) 1610 & 1745 crucial trend deciders.
TISCO, STERLITE, HINDALCO, NALCO & JINDAL STEEL: Looks weak.
29-07-2008 Corporate News
Corporate News/ : Announcements
Four Pakistani troops and an Indian soldier were reported killed in a skirmish on the Line of Control on Monday, in the most serious fighting between the two armies since a ceasefire went into force in 2003.An Indian Army spokesperson said the fighting began after 15 Pakistani troops, waving a white flag, signalled
they wished to parley with soldiers at an Indian post near the border town of Handwara. Pakistani troops apparently called for the parley to protest against the construction of new Indian Army fortifications close to Eagle Post, on the LoC.
Reliance Infra in cooperation agreement with Shanghai Electric: Reliance Infrastructure belonging to
Anil Ambani group has signed an agreement with Shanghai Electric Corporation of China for implementing
its mega plans in power sector. It has signed a framework agreement for long term cooperation with
Shanghai Electric for various identified areas in Indian power sector.As per the agreement Shanghai
Electric would give Reliance Infra the "most favoured customer" status while Reliance would give
Shanghai Electric the "most favoured supplier" status.
Binani Cement mulls floating international subsidiary: Binani Cement is planning to float an
international subsidiary to bring its all overseas assets and operations, including two proposed grinding
units in Africa and a coal mine in Indonesia, under one umbrella. It has operations in China and Dubai
with a combined cement manufacturing capacity of 2.3 million tonnes. The company plans to increase
the cumulative capacity to 4.75 million tonnes by June next year with an investment of $175 million.
Dr Reddy`s to form JV for off-patent drugs: Dr Reddy’s Laboratories will form a joint venture with one
of the world’s biggest biotech companies to make biosimilars or generic versions of patented biotech drugs
to take on Ranbaxy Laboratories, Reliance Life Sciences, among other Indian companies. Several drugs are
expected to come off patent in this segment in the next five years. Dr Reddy’s plans to invest over Rs 175-
200 crore for the development and manufacturing of biosimilars in the next one or two years.
Ashok Leyland to develop new range of trucks by 2012: Ashok Leyland will have a completely new
product portfolio by 2012-13. It is developing a new full range truck platform and a new cabin built under
modular construction. It announced the development of new six-cylinder engine code named Neptune,
from 4.7 up to eight litres capacity with cooled exhaust gas recirculation (EGR) and select catalytic
recirculation (SCR) options.
Great Offshore bags ONGC order: Great Offshore bagged an engineering contract worth Rs 234
crore from Oil and Natural Gas Corporation. The contract involves carrying out transportation as well
as installation work on 79 offshore platforms of ONGC. It is scheduled to be completed by the middle
of the calendar year 2010.
Four Pakistani troops and an Indian soldier were reported killed in a skirmish on the Line of Control on Monday, in the most serious fighting between the two armies since a ceasefire went into force in 2003.An Indian Army spokesperson said the fighting began after 15 Pakistani troops, waving a white flag, signalled
they wished to parley with soldiers at an Indian post near the border town of Handwara. Pakistani troops apparently called for the parley to protest against the construction of new Indian Army fortifications close to Eagle Post, on the LoC.
Reliance Infra in cooperation agreement with Shanghai Electric: Reliance Infrastructure belonging to
Anil Ambani group has signed an agreement with Shanghai Electric Corporation of China for implementing
its mega plans in power sector. It has signed a framework agreement for long term cooperation with
Shanghai Electric for various identified areas in Indian power sector.As per the agreement Shanghai
Electric would give Reliance Infra the "most favoured customer" status while Reliance would give
Shanghai Electric the "most favoured supplier" status.
Binani Cement mulls floating international subsidiary: Binani Cement is planning to float an
international subsidiary to bring its all overseas assets and operations, including two proposed grinding
units in Africa and a coal mine in Indonesia, under one umbrella. It has operations in China and Dubai
with a combined cement manufacturing capacity of 2.3 million tonnes. The company plans to increase
the cumulative capacity to 4.75 million tonnes by June next year with an investment of $175 million.
Dr Reddy`s to form JV for off-patent drugs: Dr Reddy’s Laboratories will form a joint venture with one
of the world’s biggest biotech companies to make biosimilars or generic versions of patented biotech drugs
to take on Ranbaxy Laboratories, Reliance Life Sciences, among other Indian companies. Several drugs are
expected to come off patent in this segment in the next five years. Dr Reddy’s plans to invest over Rs 175-
200 crore for the development and manufacturing of biosimilars in the next one or two years.
Ashok Leyland to develop new range of trucks by 2012: Ashok Leyland will have a completely new
product portfolio by 2012-13. It is developing a new full range truck platform and a new cabin built under
modular construction. It announced the development of new six-cylinder engine code named Neptune,
from 4.7 up to eight litres capacity with cooled exhaust gas recirculation (EGR) and select catalytic
recirculation (SCR) options.
Great Offshore bags ONGC order: Great Offshore bagged an engineering contract worth Rs 234
crore from Oil and Natural Gas Corporation. The contract involves carrying out transportation as well
as installation work on 79 offshore platforms of ONGC. It is scheduled to be completed by the middle
of the calendar year 2010.
29-07-2008 Market Today
Break below 14161 & 4303 heavy fresh selling will be seen.
4395 a solid resistance for NIFTY.
BSE index: (14349) Consider 14320 a nearest & 14219 a crucial support, keep strict stop loss of 14161 to your buys.
Break below 14161 heavy fresh selling will be seen & it'll fall down to 14050 & 13945initially. Break below 13945 further panic will drag it down to 13822-13775.
Upward side 14484 a crucial resistance crossover above which it'll surge up to 14549 & 14624 in a disguised manner, keep stop loss of 14624 to your sales. Crossover above 14624 only it'll sustain on higher levels & flare up to 14696 & 1485..
Nifty: (4332) Consider 4365 a nearest & 4395 a solid resistance up to which selling on higher levels will be seen, keep stop loss of 4395 to your sales.
Downward side 4303 a crucial support break below which it'll fall down heavily to 4252, 4215 & then 4165.
Upward side crossover above 4395 it'll turn positive for the day & surge up to 4465 & 4505 in a disguised manner.
4395 a solid resistance for NIFTY.
BSE index: (14349) Consider 14320 a nearest & 14219 a crucial support, keep strict stop loss of 14161 to your buys.
Break below 14161 heavy fresh selling will be seen & it'll fall down to 14050 & 13945initially. Break below 13945 further panic will drag it down to 13822-13775.
Upward side 14484 a crucial resistance crossover above which it'll surge up to 14549 & 14624 in a disguised manner, keep stop loss of 14624 to your sales. Crossover above 14624 only it'll sustain on higher levels & flare up to 14696 & 1485..
Nifty: (4332) Consider 4365 a nearest & 4395 a solid resistance up to which selling on higher levels will be seen, keep stop loss of 4395 to your sales.
Downward side 4303 a crucial support break below which it'll fall down heavily to 4252, 4215 & then 4165.
Upward side crossover above 4395 it'll turn positive for the day & surge up to 4465 & 4505 in a disguised manner.
Monday, July 28, 2008
28-07-2008 Market Today
BSE index: (14275) Consider for this week...Island reversal on daily chart indicates selling initially on higher levels will be seen. Consider 14569 a nearest & 14850 a solid resistance up to which selling on higher levels will be seen keep stop loss of 14850 to your sales initially.
Downward side 14161 a nearest support break below which it'll fall down to 13986, 13937 & 13822 initially. Consider 13822 a solid support where again buying support will be seen. Break below 13822 some more panic will drag it down to 13767, 13639 & then 12845. Buy on extreme lower levels keeping stop loss of 12500.
Upward side a close above 14850 it'll turn bit positive & spurt up to 15268.
A close above 15268 it'll turn total positive & shoot up to 15790 & 16195.
Nifty: (4311) 4303 a nearest crucial support break below which it'll heavily fall down further to 4249, 4215 & 4161. Consider 4215 to 4161 a solid support area where heavy buying support not ruled out.
In ant worst scenario a close below 4161 it'll turn very weak & fall down heavily to 4062, 4000 & 3920. Buy on extreme lower levels keeping stop loss of 3879.
Upward side it'll face resistances at 4385 & 4464 initially, keep stop loss of 4464 to your sales.
A close above 4464 it'll turn positive & surge up to 4550 initially. A close above 4550 it'll turn total positive & shoot up to 4680 & 4802.
Downward side 14161 a nearest support break below which it'll fall down to 13986, 13937 & 13822 initially. Consider 13822 a solid support where again buying support will be seen. Break below 13822 some more panic will drag it down to 13767, 13639 & then 12845. Buy on extreme lower levels keeping stop loss of 12500.
Upward side a close above 14850 it'll turn bit positive & spurt up to 15268.
A close above 15268 it'll turn total positive & shoot up to 15790 & 16195.
Nifty: (4311) 4303 a nearest crucial support break below which it'll heavily fall down further to 4249, 4215 & 4161. Consider 4215 to 4161 a solid support area where heavy buying support not ruled out.
In ant worst scenario a close below 4161 it'll turn very weak & fall down heavily to 4062, 4000 & 3920. Buy on extreme lower levels keeping stop loss of 3879.
Upward side it'll face resistances at 4385 & 4464 initially, keep stop loss of 4464 to your sales.
A close above 4464 it'll turn positive & surge up to 4550 initially. A close above 4550 it'll turn total positive & shoot up to 4680 & 4802.
28-07-2008 Market Ahead:
Market Ahead:
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro. However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at $120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report. The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July consumer confidence & advance Q2 growth estimate by the government on July 31.
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro. However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at $120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report. The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July consumer confidence & advance Q2 growth estimate by the government on July 31.
28-07-2008 Market Ahead:
Market Ahead:
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week
on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets
has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the
CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many
companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down
sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,
Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has
been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro.
However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at
$120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic
slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their
forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report.
The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July
consumer confidence & advance Q2 growth estimate by the government on July 31.
Expect a mercurial week ahead of RBI meet and result from biggies:
RBI is likely to continue with its tight money policy for some time as various measures are already in place to curb the inflation rate. The week
on week inflation did cooled off from its highs off 11.91% to 11.89% (two ticks) but still it is way above the RBI's leeway of 5.5%.
By June, the street was expecting 50 basis points (bps) in Repo with a CRR hike as well. But in the last few weeks the sentiment in the markets
has changed and it is anticipating RBI to increase only Repo by 25 bps (which is already been discounted).
RBI keeping the rates steady would certainly induce positive sentiment in the market. On the other side, RBI hiking both the Repo and the
CRR can result into huge sell-off in the coming days.
F&O expiry and Q1 results:
High volatility is expected in the markets ahead of FnO expiry of the July, 08 series and results of some stock market biggies including many
companies from the Nifty and Sensex. Investors & traders will keep their finger crossed for some biggies in the intemperately beaten down
sectors like Banking and Capital goods.
Companies which would be watched carefully will be ICICI Bank, Reliance Infrastructure, ONGC, HDFC Bank, L&T, Cairn India, NTPC,
Mahindra & Mahindra and Tata Motors among others.
Oil can play a spoilsport:
Oil after topping out at $147.8 per barrel has calmed down for some time at $120 levels, falling over 17% during the last two week. This has
been backed by concerns of weakening demand in the largest economy in the world, increase in oil inventory and the greenback gaining against the Euro.
However a supply disruption by Dolly or a geopolitical tension between Israel and Iran can surge the price once again. Oil has a good back up at
$120, if it breaks that level it would further add to the upward movement in the markets.
Global Market:
Orders for U.S. durable goods unexpectedly rose in June, and sales of new homes were higher than forecast, easing concern that the economic
slowdown will worsen. A private report showed consumer sentiment rose from a 28-year low. Morgan Stanley economists have raised their
forecast for Q2 GDP growth to 2.4% from 2.2% after the durable-goods report.
The important data to watch in the US next week is July Dallas Fed manufacturing survey, June Chicago Fed Midwest manufacturing index, July
consumer confidence & advance Q2 growth estimate by the government on July 31.
28-07-2008 Corporate News/ : Announcements
28-07-2008
Corporate News/ : Announcements
Chennai Petro pipeline to cost Rs 700 cr instead of Rs 65 cr : Circumstances have forced Chennai Petroleum Corporation Ltd (CPCL) to abandon a Rs 65.4-crore project and think of a Rs 700-crore alternative.Crude oil for CPCL’s 9.5-million-tonne refinery at Manali, north Chennai, needs to be brought to the Chennai port and piped down to the refinery. Today, a decades-old, 30-inch pipeline connects Chennai Port to CPCL’s Manali refinery, in north Chennai. For over three years now, CPCL has been planning to replace the pipeline with another 42-inch one.
NMDC-CMDC to speed up work at Chhattisgarh mine: NMDC-CMDC Ltd, the joint venture between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to expedite work on Deposit Number 13 of the Bailadila mines in Chhattisgarh.
NTPC plans 2,000 mw N-power unit: Joining the growing list of companies trying to tap the opportunity that is bound to arise out of a possible Indo-US nuclear deal, NTPC has drawn up plans to enter nuclear power generation by setting up a 2,000 megawatt (mw) project. In a report submitted to the Ministry of Power, NTPC, which has one-fourth of India’s installed power capacity, said it would operationalise the project within the next decade in two phases of 1,000 mw each.
RIL arm set to supply gas to 52 cities: RIL, which is set to become the single-largest gas producer in the country once its Krishna-Godavari gas hits full production, may also become the largest gas distributor soon with operations in 52 major cities. Reliance Gas Corporation (RGCL), a subsidiary of RIL, has emerged as the sole entity to submit expression of interest (EoI) for these cities. The company would have an exclusivity over gas distribution in these cities for five years as per the gas distribution policy.
ONGC keen to restart exploration on Kochi-Konkan coast : Oil and Natural Gas Corporation is to restart its oil exploration on the Kochi-Konkan coast in the near future. Earlier in 2004, ONGC had made exploration along the coast by deploying two rigs although it did not generate the desired results.
Reliance Power to borrow $4 b for new projects : Reliance Power Ltd, the power generation company of Anil Ambani group, said the company has received approval from the Reserve Bank of India to borrow $4 billion as external commercial borrowing in order fund two mega power projects. The large sum would be utilised for constructing two ultra mega power projects, each having 4,000 MW capacity. The plants would be located in Sasan, Madhya Pradesh and Krishnapatnam in Andhra Pradesh .
Exide to invest Rs 180 cr on capacity expansion : Exide Industries Ltd will invest Rs 180 crore towards capacity expansion of both automotive and industrial batteries in this fiscal.
Zensar to set up facilities in Pune, Hyderabad : Zensar Technologies is setting up facilities, each with 300 seats, one at the EON SEZ in Pune and another in Hyderabad. Zensar, is being set up at EON, an SEZ for IT and ITeS in Kharadi, and is expected to be ready by August this year. EON is an SEZ spread over 45 acres and has four blocks, of which two are functional. The facility in Hyderabad is expected to be operational by February 2009. Both the 300-seater facilities would initially start with IT services and may extend them to its BPO services later.
Corporate News/ : Announcements
Chennai Petro pipeline to cost Rs 700 cr instead of Rs 65 cr : Circumstances have forced Chennai Petroleum Corporation Ltd (CPCL) to abandon a Rs 65.4-crore project and think of a Rs 700-crore alternative.Crude oil for CPCL’s 9.5-million-tonne refinery at Manali, north Chennai, needs to be brought to the Chennai port and piped down to the refinery. Today, a decades-old, 30-inch pipeline connects Chennai Port to CPCL’s Manali refinery, in north Chennai. For over three years now, CPCL has been planning to replace the pipeline with another 42-inch one.
NMDC-CMDC to speed up work at Chhattisgarh mine: NMDC-CMDC Ltd, the joint venture between State-run National Mineral Development Corporation and Chhattisgarh Mineral Development Corporation (CMDC), has decided to expedite work on Deposit Number 13 of the Bailadila mines in Chhattisgarh.
NTPC plans 2,000 mw N-power unit: Joining the growing list of companies trying to tap the opportunity that is bound to arise out of a possible Indo-US nuclear deal, NTPC has drawn up plans to enter nuclear power generation by setting up a 2,000 megawatt (mw) project. In a report submitted to the Ministry of Power, NTPC, which has one-fourth of India’s installed power capacity, said it would operationalise the project within the next decade in two phases of 1,000 mw each.
RIL arm set to supply gas to 52 cities: RIL, which is set to become the single-largest gas producer in the country once its Krishna-Godavari gas hits full production, may also become the largest gas distributor soon with operations in 52 major cities. Reliance Gas Corporation (RGCL), a subsidiary of RIL, has emerged as the sole entity to submit expression of interest (EoI) for these cities. The company would have an exclusivity over gas distribution in these cities for five years as per the gas distribution policy.
ONGC keen to restart exploration on Kochi-Konkan coast : Oil and Natural Gas Corporation is to restart its oil exploration on the Kochi-Konkan coast in the near future. Earlier in 2004, ONGC had made exploration along the coast by deploying two rigs although it did not generate the desired results.
Reliance Power to borrow $4 b for new projects : Reliance Power Ltd, the power generation company of Anil Ambani group, said the company has received approval from the Reserve Bank of India to borrow $4 billion as external commercial borrowing in order fund two mega power projects. The large sum would be utilised for constructing two ultra mega power projects, each having 4,000 MW capacity. The plants would be located in Sasan, Madhya Pradesh and Krishnapatnam in Andhra Pradesh .
Exide to invest Rs 180 cr on capacity expansion : Exide Industries Ltd will invest Rs 180 crore towards capacity expansion of both automotive and industrial batteries in this fiscal.
Zensar to set up facilities in Pune, Hyderabad : Zensar Technologies is setting up facilities, each with 300 seats, one at the EON SEZ in Pune and another in Hyderabad. Zensar, is being set up at EON, an SEZ for IT and ITeS in Kharadi, and is expected to be ready by August this year. EON is an SEZ spread over 45 acres and has four blocks, of which two are functional. The facility in Hyderabad is expected to be operational by February 2009. Both the 300-seater facilities would initially start with IT services and may extend them to its BPO services later.
Saturday, July 26, 2008
26-07-08 Corporate News/ : Announcements
26th July 2008
Corporate News/ : Announcements
Pantaloon offers 1:10 bonus with differential rights: Pantaloon Retail approved a proposal to give shareholders one bonus share with different voting and dividend rights for every 10 held. The new shares called Class B shares will get 5 per cent more dividend than ordinary shares and would be entitled to one vote for every 10 held.
R-Infra plans four JVs with Shanghai Electric: Reliance Infrastructure, which plans to set up a $3-billion joint venture with Shanghai Electric Power Co to make power equipment in India, is setting up four more joint ventures with the Chinese partner to offer a range of third-party services to power utilities in India. The services to be offered in the domains of technical and design support, operations and maintenance, after-sales services and erection of power equipment would involve a combined investment of $400-600 million and generate up to 400 jobs.
ONGC to enter nuclear mining: Oil and Natural Gas Corporation, plans to enter uranium mining in alliance with public-sector Uranium Corporation of India, aiming to tap the business opportunity from nuclear fuel shortage in Asia's third largest economy. ONGC is aligning with Uranium Corporation as the latter is the only entity allowed to undertake uranium mining in India, and has the power to allot mining leases .
Reliance Industries Ltd Q1 Net up 13%: Reliance Industries Ltd has reported a 13 per cent increase in net profit for the first quarter ended June 2008, as it was able to sell its products at higher prices and also because of doubling of export sales. It has reported a net profit of Rs 4,110 crore or earnings per share (EPS) of Rs.28.3 for the quarter ended June 2008, against Rs 3,630 crore, or EPS of Rs 25, in the year-ago period. Turnover in the first quarter of fiscal 2009 increased 41 per cent to touch Rs 41,805 crore against Rs 29,721 crore in April-June 2007.
R-Power raises $1 bn from three Chinese banks: Reliance Power (R-Power) plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.The fund raised from China Exim Bank, Chinese Development Bank and China Export & Credit Insurance Corporation (Sinosure) will help R-Power to achieve financial closure of the Sasan plant, which is projected to have an investment of Rs.15,000 crore.
GACL in Rs 600-cr JV with Dow Chemicals: Gujarat Alkalies and Chemicals (GACL) has formed a joint venture for setting up a Rs 600 crore plant at Dahej with Dow Chemicals, a US based multinational. The new joint venture company is registered as" DOW-GACL Solvdenture.
Tata Motors developing electric car, host of green cars: Tata Motors is developing an electric car, besides a host of eco-friendly, hybrid, bio-fuel and compressed-air run cars.
Corporate News/ : Announcements
Pantaloon offers 1:10 bonus with differential rights: Pantaloon Retail approved a proposal to give shareholders one bonus share with different voting and dividend rights for every 10 held. The new shares called Class B shares will get 5 per cent more dividend than ordinary shares and would be entitled to one vote for every 10 held.
R-Infra plans four JVs with Shanghai Electric: Reliance Infrastructure, which plans to set up a $3-billion joint venture with Shanghai Electric Power Co to make power equipment in India, is setting up four more joint ventures with the Chinese partner to offer a range of third-party services to power utilities in India. The services to be offered in the domains of technical and design support, operations and maintenance, after-sales services and erection of power equipment would involve a combined investment of $400-600 million and generate up to 400 jobs.
ONGC to enter nuclear mining: Oil and Natural Gas Corporation, plans to enter uranium mining in alliance with public-sector Uranium Corporation of India, aiming to tap the business opportunity from nuclear fuel shortage in Asia's third largest economy. ONGC is aligning with Uranium Corporation as the latter is the only entity allowed to undertake uranium mining in India, and has the power to allot mining leases .
Reliance Industries Ltd Q1 Net up 13%: Reliance Industries Ltd has reported a 13 per cent increase in net profit for the first quarter ended June 2008, as it was able to sell its products at higher prices and also because of doubling of export sales. It has reported a net profit of Rs 4,110 crore or earnings per share (EPS) of Rs.28.3 for the quarter ended June 2008, against Rs 3,630 crore, or EPS of Rs 25, in the year-ago period. Turnover in the first quarter of fiscal 2009 increased 41 per cent to touch Rs 41,805 crore against Rs 29,721 crore in April-June 2007.
R-Power raises $1 bn from three Chinese banks: Reliance Power (R-Power) plans to set up 28,000 mw of power plants in India, has secured $1 billion (or around Rs 4,200 crore) funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.The fund raised from China Exim Bank, Chinese Development Bank and China Export & Credit Insurance Corporation (Sinosure) will help R-Power to achieve financial closure of the Sasan plant, which is projected to have an investment of Rs.15,000 crore.
GACL in Rs 600-cr JV with Dow Chemicals: Gujarat Alkalies and Chemicals (GACL) has formed a joint venture for setting up a Rs 600 crore plant at Dahej with Dow Chemicals, a US based multinational. The new joint venture company is registered as" DOW-GACL Solvdenture.
Tata Motors developing electric car, host of green cars: Tata Motors is developing an electric car, besides a host of eco-friendly, hybrid, bio-fuel and compressed-air run cars.
Friday, July 25, 2008
July 25th Market News
25th July 2008
Corporate News/ : Announcements
Exide to double OEM supplies by Fy10: Exide Industries plans to double its supplies to automobile makers in 2009-10 to 5 million units. The rise in supply is seen following a slew of agreements with original equipment makers for passenger cars, most of which will hit the roads in 2009-10.
Bilcare, MeadWestvaco acquire US pharma firm: Bilcare Ltd and US-based MeadWestvaco Corp (MWV) have jointly acquired pharmaceutical packaging company International Labs of St. Petersburg, Florida. The acquisition will leverage capabilities for adherence-promoting pharmaceutical packaging and streamline the supply chain.
RIL gas case adjourned :The division bench of the Bombay High Court on Tuesday adjourned the case between Mr Mukesh Ambani promoted Reliance Industries Ltd and Mr Anil Ambani led Reliance Natural Resources Ltd till Wednesday over the sharing of natural gas from the Krishna-Godavari gas fields, located of the Eastern seaboard. The division bench directed the matter to be placed before the Chief Justice of the Bombay High Court, who will decide which bench should hear the final argument in the case.
Adjustment in Futures and Options contracts of INDIA INFOLINE LTD. on account of Sub-division of share: INDIA INFOLINE LTD has announced Stock split in the ratio of 10:2 to the equity shareholders of the company .The record date announced by the company for this purpose is August 18, 2008, based on which the Exchange has fixed August 08, 2008 as the ‘Ex-date’.Thus, the Final adjustment factor for the Stock Spilt in this case would be 5.The adjusted market lot will be arrived at by multiplying the old market lot by the adjustment factor (5).Change in Positions held: The adjusted position will be arrived at by multiplying the old position by the adjustment factor (5).
Corporate News/ : Announcements
Exide to double OEM supplies by Fy10: Exide Industries plans to double its supplies to automobile makers in 2009-10 to 5 million units. The rise in supply is seen following a slew of agreements with original equipment makers for passenger cars, most of which will hit the roads in 2009-10.
Bilcare, MeadWestvaco acquire US pharma firm: Bilcare Ltd and US-based MeadWestvaco Corp (MWV) have jointly acquired pharmaceutical packaging company International Labs of St. Petersburg, Florida. The acquisition will leverage capabilities for adherence-promoting pharmaceutical packaging and streamline the supply chain.
RIL gas case adjourned :The division bench of the Bombay High Court on Tuesday adjourned the case between Mr Mukesh Ambani promoted Reliance Industries Ltd and Mr Anil Ambani led Reliance Natural Resources Ltd till Wednesday over the sharing of natural gas from the Krishna-Godavari gas fields, located of the Eastern seaboard. The division bench directed the matter to be placed before the Chief Justice of the Bombay High Court, who will decide which bench should hear the final argument in the case.
Adjustment in Futures and Options contracts of INDIA INFOLINE LTD. on account of Sub-division of share: INDIA INFOLINE LTD has announced Stock split in the ratio of 10:2 to the equity shareholders of the company .The record date announced by the company for this purpose is August 18, 2008, based on which the Exchange has fixed August 08, 2008 as the ‘Ex-date’.Thus, the Final adjustment factor for the Stock Spilt in this case would be 5.The adjusted market lot will be arrived at by multiplying the old market lot by the adjustment factor (5).Change in Positions held: The adjusted position will be arrived at by multiplying the old position by the adjustment factor (5).
Wednesday, July 23, 2008
23-07-08
SENSEX (Close- 14104.20)
Well, UPA won the vote of confidence. It seems for the time being the phase of political uncertainty is over. This must be a good boost for stock market. FII and domestic funds has already started buying from last two days. It seems that a depressed market should go above 15000 sooner. I must say that due to political picture Indian market has under performed the global market. It should not break 13800 for the short term. One should expect good buying in blue chip stocks now. I like to say that almost all blue chip stocks has move higher by 10% from their recent low. To add good news crude oil is also on fall. Suddenly all turn good for market??? Now I will put an eye on inflation.
Support - 13730/13500/13320
Resistance - 13980/14100/14280
NIFTY (Close- 4240.10)
I was expecting 4230 and it has closed above 4230. Well, now what. It seems that Nifty can not only try to cross above 4300 but it may try to take a move towards 4500 marks. Support will be at 4170 to 4100. On charts Nifty has seen good consolidation.
Support - 4206/4164/4120
Resistance - 4300/4368/4420
Well, UPA won the vote of confidence. It seems for the time being the phase of political uncertainty is over. This must be a good boost for stock market. FII and domestic funds has already started buying from last two days. It seems that a depressed market should go above 15000 sooner. I must say that due to political picture Indian market has under performed the global market. It should not break 13800 for the short term. One should expect good buying in blue chip stocks now. I like to say that almost all blue chip stocks has move higher by 10% from their recent low. To add good news crude oil is also on fall. Suddenly all turn good for market??? Now I will put an eye on inflation.
Support - 13730/13500/13320
Resistance - 13980/14100/14280
NIFTY (Close- 4240.10)
I was expecting 4230 and it has closed above 4230. Well, now what. It seems that Nifty can not only try to cross above 4300 but it may try to take a move towards 4500 marks. Support will be at 4170 to 4100. On charts Nifty has seen good consolidation.
Support - 4206/4164/4120
Resistance - 4300/4368/4420
Friday, July 18, 2008
Corporate News/Announcements 18-07-08
Binani Cement to foray into realty development: Binani Cement is expected to enter into realty
development in the current fiscal. A source said Binani has proposed to develop 56 acre it owns in Thane
into an IT park. The group plans to develop the land with a joint venture partner and is learnt to be looking at
a few options in this regard, said the source.
India on Novartis’ radar for prospecting bio-resources: Swiss drug-major Novartis AG is looking at
bio-diverse resources around the world towards developing medicines from natural sources, and India
features on this plan.
BGR Energy wins Rs 5,023-cr contract from Rajasthan Vidyut: Chennai-based BGR Energy Ltd on
Wednesday announced that it has won aRs 5,023-crore contract from RajasthanVidyut Utpadan Nigam Ltd
— the electricity generation company of Rajasthan’s electricity Board.The ‘engineering, procurement,
construction’ contract is for putting up the 2x600 MW Kalisindh Thermal Power Project at Jhalawar,
Rajasthan (near Kota). The scope of the contract includes design, engineering, supply of boiler, turbine and
generator and ‘balance of plant’.With this order,BGREnergy’s order book swells to Rs 11,000 crore.
Nagarjuna Construction to invest up to Rs 500 cr in airports, ports: Nagarjuna Construction Company
Ltd plans to invest up to Rs 500 crore in the next three years in creating port and airport infrastructure in the
country. The company will focus on creating support infrastructure that will attract other industries. It has
been pre-qualified for the proposed Udaipur airport in Rajasthan.
development in the current fiscal. A source said Binani has proposed to develop 56 acre it owns in Thane
into an IT park. The group plans to develop the land with a joint venture partner and is learnt to be looking at
a few options in this regard, said the source.
India on Novartis’ radar for prospecting bio-resources: Swiss drug-major Novartis AG is looking at
bio-diverse resources around the world towards developing medicines from natural sources, and India
features on this plan.
BGR Energy wins Rs 5,023-cr contract from Rajasthan Vidyut: Chennai-based BGR Energy Ltd on
Wednesday announced that it has won aRs 5,023-crore contract from RajasthanVidyut Utpadan Nigam Ltd
— the electricity generation company of Rajasthan’s electricity Board.The ‘engineering, procurement,
construction’ contract is for putting up the 2x600 MW Kalisindh Thermal Power Project at Jhalawar,
Rajasthan (near Kota). The scope of the contract includes design, engineering, supply of boiler, turbine and
generator and ‘balance of plant’.With this order,BGREnergy’s order book swells to Rs 11,000 crore.
Nagarjuna Construction to invest up to Rs 500 cr in airports, ports: Nagarjuna Construction Company
Ltd plans to invest up to Rs 500 crore in the next three years in creating port and airport infrastructure in the
country. The company will focus on creating support infrastructure that will attract other industries. It has
been pre-qualified for the proposed Udaipur airport in Rajasthan.
NSE Today 18-07-08
4001 a nearest crucial hurdle for NIFTY
Nifty: (3947) Expect it to surge up to 3881 & 4001 initially. Consider 4001 a crucial resistance. Crossover above 4001 it'll surge up to 4050 & 4130.
Downward side 3920 a nearest & 3879 a crucial support, keep stop loss of 3879 to your buys.
Break below 3879 it'll turn weak for the day & fall down to 3848 & 3760. Buy on extreme lower levels keeping stop loss of 3760.
BSE index: (13112) Consider 12997 a nearest & 12844 a solid support, keep stop loss of 12802 to your buys on declines.
Upward side it'll rush up to 13196 & 13230 initially. Crossover above 13230 it'll surge up further to 13357 & 13560 to 13616.
Downward side break below 12802 it'll turn bit weak & fall down to 12654 & 12537. Buy on declines keeping stop loss of 12500.
*OIL $130
*DOW +207
*Nikki +48
*Ftse 135
*Nasdaq +27
* Positive opening expected.
* we are stil holding 3700 put
Nifty: (3947) Expect it to surge up to 3881 & 4001 initially. Consider 4001 a crucial resistance. Crossover above 4001 it'll surge up to 4050 & 4130.
Downward side 3920 a nearest & 3879 a crucial support, keep stop loss of 3879 to your buys.
Break below 3879 it'll turn weak for the day & fall down to 3848 & 3760. Buy on extreme lower levels keeping stop loss of 3760.
BSE index: (13112) Consider 12997 a nearest & 12844 a solid support, keep stop loss of 12802 to your buys on declines.
Upward side it'll rush up to 13196 & 13230 initially. Crossover above 13230 it'll surge up further to 13357 & 13560 to 13616.
Downward side break below 12802 it'll turn bit weak & fall down to 12654 & 12537. Buy on declines keeping stop loss of 12500.
*OIL $130
*DOW +207
*Nikki +48
*Ftse 135
*Nasdaq +27
* Positive opening expected.
* we are stil holding 3700 put
Thursday, July 17, 2008
Nifty 3700 Put Buy Signal 17-07-08
Buy Nifty 3700 Put Option @
CMP 71.00
Target 100
Stop loss 55.00 *www.bullsindia.net* less
CMP 71.00
Target 100
Stop loss 55.00 *www.bullsindia.net* less
Nifty Today 17-7-08
NIFTY (Close- 3816.70)
Nifty has broken 3800 marks yesterday but just manages to close above 3800 marks. Well, it is too early to say that weakness is over but technical recovery should come at least for first half. No fresh short is advisable.
Support - 3800/3760/3737
Resistance - 3848/3876/3918
SENSEX (12575.80)
Well, Sensex came very close to 12500 support marks. Market can see some technical recovery and this is most suitable zone to move. Still any rise will just be the relief rally. Stocks has already suffered a lot. Break below 12500 marks will result the test of 12200 marks. I do not prefer to trade on short side from lower levels. Technically if Sensex sustain above 12500 marks then we can see recovery at least towards 13000 marks. Banking and reality stocks has already seen very sharp fall in past few days. For trading one should prefer trade long on technology stocks. Global cues and political news flow can add volatility in any direction so one must trade with caution.
Support - 12500/12296/12080
Resistance - 12790/12940/13160
Nifty has broken 3800 marks yesterday but just manages to close above 3800 marks. Well, it is too early to say that weakness is over but technical recovery should come at least for first half. No fresh short is advisable.
Support - 3800/3760/3737
Resistance - 3848/3876/3918
SENSEX (12575.80)
Well, Sensex came very close to 12500 support marks. Market can see some technical recovery and this is most suitable zone to move. Still any rise will just be the relief rally. Stocks has already suffered a lot. Break below 12500 marks will result the test of 12200 marks. I do not prefer to trade on short side from lower levels. Technically if Sensex sustain above 12500 marks then we can see recovery at least towards 13000 marks. Banking and reality stocks has already seen very sharp fall in past few days. For trading one should prefer trade long on technology stocks. Global cues and political news flow can add volatility in any direction so one must trade with caution.
Support - 12500/12296/12080
Resistance - 12790/12940/13160
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