11 Dec,2009

11 Dec 2009  09:25

SGX Nifty up with 36 points, trading at 5165

Nifty Resistance : 5165 / 5185-90
Nifty Support : 5118 / 5092


Buy Calls :

Bhel  sl 2270  Trg 2317
Selan  sl 323 Trg 335/353(positional),
Sterlinbio(abv 96)  sl 94  Trg 99,
Powergrid(abv 106)  sl 103  Trg 110,
ICICIBank(abv 882)  sl 865  Trg 904,
ICSA(in Dips at 180-183)  sl 176 Trg 198,
Grasim(abv close 2470),
Siemens(abv close 556)
Balramchin,
KLG Systel


Updates :

Asian markets trading firm; Hang Seng, up by 418 points while Nikkei up by 130points.

Wall St ends higher; Dollar gains, Crude slips below $71. The Dow Jones gained 68.78 points to close at 10,405.83. The S&P 500 added 0.6% and the Nasdaq rose 0.3%.

The US markets ended with modest gains after a choppy session. The advance came in the face of modest strength in the dollar, weakness among financial issues, and mixed weekly jobless claims.






RIL considers stake sale in Haryana SEZ. RIL is believed to be in talks with IL&FS and others for sale of a minority stake in Reliance Haryana SEZ. That's according to a news agency report quoting sources. However, the report does not mention how much stake RIL could offload in the venture and at what value.
In its annual report for 2008-09, RIL had said that it was planning to bring in a partner in its Haryana SEZ project to maximise potential.


Sun Pharma Update

-Taro sends fresh letter to shareholders
-Taro targets Sun over Caraco handling
-Taro seeks shareholders' nod to favour current board

Aircel tower sale process enters final lap : The race for Aircel's tower sale has picked up pace. CNBC-TV18 learns that GTL Infra and Bharti Infratel are aggressively battling it out with other firms in the race. Sources suggest the deal may be closed in four-six weeks. The estimated value of the deal stands at USD 1.6 billion to USD 2 billion.
Aircel has nearly 14,000 towers at present and is expected to add another 2,000 towers in the near term, sources say.

The Reserve Bank of India (RBI) has made it easy for telecom companies bidding for third generation (3G) mobile spectrum to borrow money from abroad, while tightening the norms for others.

Ahead of the 3G spectrum auction, scheduled for January 14, the central bank in a notification on Wednesday that telcos can use the funds raised through external commercial borrowings (ECBs) for buying airwaves to launch 3G telephony that offers faster data downloads.

Godrej Properties subscribed 1.28 times on close.

Our Nifty 2011 target is 5840 !!

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