24 Dec 2009

24 Dec 2009




Asian Markets :

SGX Nifty : +8 pts

Hang Seng : +237.01pts

Nikkei : +171.10 pts

Nifty resistance around 5180-5200.

Stocks to Buy :

Buy Adhunik 104 114

Buy Jindalswhl 1788 1840 / 1876

Buy Relcapital



Buy NHPC 32.5 36

Buy Chennpetro 216 227

Buy Selan 324 340 / 348 Positional

Buy LT 1649 1700

Buy Bajajhind 210 224

Buy HCC 140 148 Abv 142

Buy Onmobile 375 400 Positional

Buy Mcdowell-n

Buy Zylog 350 380 Positional

Tatapower





Sell Syndibank Sell on rise

Sell PFC Sell on rise





The Nifty Open Interest PCR (put-call ratio) increased to 1.40 versus 1.15. Nifty 5000 Call shed 41 lakh shares in OI while Nifty 5000 Put added 12 lakh shares in OI. Stock futures added 4 crore shares in Open Interest.

FIIs net bought Rs 977 crore in Nifty futures. FIIs’ Nifty OI (open interest) was down 11,000 contracts. FIIs net bought Rs 611 crore in Nifty options.

The Nifty futures ended with 12-point premium. The Nifty Open Interest PCR (put-call ratio) increased to 1.40 versus 1.15.

Nifty 5000 Call shed 41 lakh shares in OI while Nifty 5000 Put added 12 lakh shares in OI. Stock futures added 4 crore shares in Open Interest.

Huge long build-up was seen in NTPC. The stock rose 7%. Its CoC (cost of carry) was also up and futures Open Interest was up 28%.

Fresh long build-up was seen in Hindalco, Tata Steel, HCL Tech and HDIL; their CoC was also up. Hindalco shot up 7.7% and its futures Open Interest was up 16%.

Tata Steel rose 4.6% and its futures Open Interest was up 16%. HCL Tech went up 3.5% and its futures Open Interest was up 14%. HDIL surged 4% and its futures Open Interest was up 18%.



Stocks in News :

Diageo Radico :

Diageo Radico Distilleries JV (joint venture) FIPB (Foreign Investment Promotion Board) nod to induct 100% FDI

Proposes to induct 100% foreign investment from Diageo Highlands BV

Diageo Highlands BV & Radico Khaitan have 50:50 stake in JV

Transaction by way of preferential allotment of 1.75 crore FCPS (Fully Convertible Preferential Shares)

Bharati Shipyard:

Bharati unlikely to make open offer unless directed by SEBI

Bharati gets 44.16% & proportionate represenation on board

Question before SEBI - Does 44.16% & proportionate board seats constitute control?

Radico Khaitan Says

Enabling approval to induct funds into JV

Shareholding pattern not to be altered

Funding by way of preferential share allotment

Mcleod Russel

To acquire Rwenzori Tea, Uganda for $25 million

To make further payment of $5 million to vendors as inter corporate debt

Uganda Company buy likely to be completed January 15: NW18

India Infoline under MCA scanner:

RoC (Registrars of Companies) seeks MCA (Ministry of Corporate Affairs) nod to inspect India Infoline & India Infoline Investment Services

RoC seeks inspection of books of A/c under Sec209(A), companies Act

RoC has conducted technical scrutiny of both companies based on risk parameters

ITI: Sources

Cabinet to mull ITI reservation extension for PSU procurement today

Proposal to extend ITI quota of BSNL, MTNL purchases by 1 year

BSNL, MTNL reserve 30% of equipment procurement for ITI

Board meets:

Indage Vintners – results

Diamant Investment to consider bonus issue

SpiceJet says

Prices likely to firm up next year

Will continue to focus on cost cuts

Product can't suffer due to cost cuts

Other stocks that are in news today:

Aban Offshore still in NSE F&O curb, IFCI out

Bank of India offers 8% home loan offer

Sai Ind & Sai Capital to start trading on BSE today, no circuit filter

Indian ADRs: Sterlite up 5.6%



Fund Action witnessed in Zandu Pharma, Sunil Hitech

Fund Action witnessed in Zandu Pharma, Sunil Hitech, Unichem Labs, Vishal InfoTech and SNL Bearings.

Fund Action:

Zandu Pharma

Emami sells 38,400 shares at Rs 6,310.90 per share

Emami sells 72,700 shares at Rs 6391.50 per share

Sunil Hitech

Kotak Mah UK buys 1.05 lakh shares at Rs 193.25 per share

Unichem Labs

Bajaj Allianz Life Ins buys 2 lakh shares at Rs 306.11 per share

Vishal InfoTech

Amas India Invst sells 2.2 lakh shares at Rs 12.05 per share

SNL Bearings

Sharekhan buys 37,000 shares at Rs 18.50 per share



Wall Street ends flat

Disappointing new home sales lead to a decline on Wall Street. But a weaker dollar helped drive stocks back into the green. However, the rebound was resisted at intra-session highs.

The Dow Jones Industrial Average was up 1.51 points, or 0.01%, to 10,466.44. The Standard & Poor's 500 index rose 2.57 points, or 0.2%, to 1,120.59, while the Nasdaq Composite Index added 16.97 points, or 0.8%, to 2,269.64.

In key economic data, new home sales tumbled 11.3% in November, raising the specter that previous positive signs in the industry were the result of government stimulus and not sustainable.

The dollar meanwhile continued to trade weak after hitting new 3-month highs in the previous session. The dollar index slipped below the 78 mark.

While a retreat by the dollar helped commodities, oil got an added benefit from a larger-than-expected weekly inventory draw of 4.84 million barrels. Oil prices surged nearly 3% at over USD 76 per barrel.