BSE index: (14355) Consider 14265 a crucial support, keep stop loss of 14153 to your buys.
Upward side it'll rush up to 14417 initially which is a nearest resistance to watch out for. Crossover above 14417 it'll spurt up heavily to 14580.
Downward side break below 14153 it'll turn bit weak & fall down to 14018 initially.
Break below 14018 it'll crash down to 13954 & 13825.
Nifty: (4333) Keep stop loss of 4285 to your buys.
Upward side it'll surge up further to 4368 initially. Crossover above 4368 it'll spurt up further to 4395 to 4416. Consider 4416 a solid resistance.
Crossover above 4416 only it'll move up further to 4465 & 4494.
Downward side break below 4285 it'll fall down to 4245 initially.
Break below 4245 it'll crash down to 4229 & 4194.
Friday, August 1, 2008
Thursday, July 31, 2008
31-07-2008 Corporate Annoncements
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.
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.
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.
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