10 Feb 2010 Morning Updates

10 Feb 2010  08:39
Our market will open on higher side on strong closing of US indices.
Nifty may open at 4810-4920.Nifty may resist at 4830 level.Stock specific rally is expected.Morning steam will continue if the Asian wont loose further and similarly European markets will open higher.
Recommendations :
Buy Aban sl 1155 Target 1203
Buy Ambujacem sl 103 Target 107.5
Buy Axisbank sl 1031 Target 1058
Buy Bhartiartl sl 311 Target 319
Buy Cipla sl 318 Target 326
Buy HDFC sl 2385 Target 2440
Buy Herohonda sl 1612 Target 1640
Buy Infosystch sl Target
Buy LT sl 1452 Target 1478
Buy PNB sl 885 Target 894
Buy Relinfra sl 1048 Target 1074
Buy Dredgecorp sl 651 Target 692
Buy NMDC sl 475 Target 513
Buy Garwoffs sl 202 Target Abv 204
Buy surajdiamn sl 50 Target 55
Buy Centralbk sl 148 Target 171 Positional
Buy Jindalsaw sl 190 Target 200
Stocks to watch : Classic,Gitanjali.
Stocks in News :
Board meets today:

Fortis Healthcare - raise funds upto Rs 1000 crore
DIC India – Q3 results
Bombay Dyeing: issue of Warrants to Promoters on a preferential basis
Indowind Energy - allotment of share warrants on preferential basis.
Balaji Amines - consider setting up of a hotel at solapur (low volume)
Bombay HC disposes off company petition for scheme of arrangement between companies, Amtek India, Amtek auto and others as infructuous

Shriram Properties sells 49% stake to ICICI Pru for Rs 40 crore – ET
GTC can now develop city property, Pramod Jain withdraws objection in CLB – ET
BSNL mulls private placement as IPO hopes fade – BS (May divest 5-10% stake)
ADAG firm hikes stake in Fame to 7.89% from 6.25% - BS
Geecee Ventures (Gwalior Chemical) buy back offer at Rs 120/sh
Koutons to open 100 more family concept stores by end-FY 11
Kilburn Engi bags orders worth Rs 67.8 crore
Chettinad Cement board approves scheme of arrangement with Allied Minerals and Metals in the ratio of 1:46
Ex- dates:

Consolidated Construction- stock split from 10 to 2
KRBL – stock split from 10 to 1
Mounteverest Trading – bonus of 3:1
Oil India – Dividend of Rs 18
Fame-INOX Deal: Reliance MediaWorks
Fame-INOX deal involves suppression of material facts
Raises questions on violation of SEBI takeover code,raises queries on fiduciary duties of listed cos promoters & protection of interest of minority shareholders.
Budget -Changes recommended by Planning Commission; may be incorporated in upcoming Budget
In favour of companies Like BHEL, L&T
Govt may up import duties on foreign power generation equipment: Mint Exclusive
NTPC FPO

NTPC FPO clearing price for QIBs at Rs 202 versus Rs 201 floor price: NW18
Maximum bids for NTPC FPO received at Rs 209
IPO update:
Hathway Cable (closes tomorrow)
QIB at 0.286 times (X), NII at 2.438X, Retail at 0.038X
Arss Infrastructure (closes tomorrow)
QIB at 5.27X, NII at 1.475X, Retail at 0.581X
Divestment: Exclusive
Need to revisit French auction method for future issues: Sources
Govt analysis of NTPC FPO to focus on several points
Govt will discuss impact of French Auction on yield
Steel Ministry says
SAIL FPO proposal soon to go cabinet
Sent proposal to department of divestment
Jan steel sales at 1.01 million tonnes versus 1.02 million Tonnes (YoY)
SAIL Chairman says
Will send our views to the Ministry on issue of bonus shares before FPO
Raw material prices rising, to that extent see steel prices rising
L&T Infotech :
IPO plans on track, cannot define timeline for now
Will look at acquisitions in retail, banking space
Budget for acquisition varies between USD 150-200 million
L&T General Insurance
L&T General Insurance Venture receives initial nod from IRDA: Srcs
L&T General receives R1 approval from IRDA: Srcs
R1 is the first stage of regulatory approval
Indian ADRs :
Patni Computers was up 8.06% at $ 20.78 , ICICI Bank was up 4.38% at $ 35.06, Infosys was up 4.19% at $ 53.26, Wipro was up 3.52% at $ 20.01, Sterlite Industries was up 3.5% at $ 16.27, MTNL was up 3.28% at $ 3.15.
HDFC Bank was up 2.35% at $ 113.43, Tata Motors was up 2.35% at $ 14.81 Dr Reddy's Labs was up 1.37% at $ 23.66, Tata Communication was up 0.31% at $ 12.9.

Satyam Computers remained unchanged at $ 4.9
F&O cues:

Total F&O Open Interest up by Rs 1107 crore
Total Futures Open Interest down by Rs 528 crore, Total Options Open Interest up by Rs 1107 crore
Stock Futures Add 75 lakh shares in Open Interest
Nifty Calls shed 1.6 lakh shares, Nifty Puts adds 20.7 lakh shares in Open Interest
Nifty PCR at 1.06 versus 1.02
Nifty Futures 1 pt premium versus 5 pt premium
Nifty Feb 4800 Put Adds 5.2 lakh shares in Open Interest
Nifty Feb 4600 Put Adds 5 lakh shares in Open Interest
Nifty Feb 4800 Call Adds 5 lakh shares in Open Interest
Nifty Feb 4700 Put Adds 4.9 lakh shares in Open Interest
FIIs in F&O on February 09
Net buy Rs 1135 crore in Nifty futures
Open Int down 44027 contracts
Net sell Rs 240 crore in Nifty options
Open Int down 8158 contracts
Net buy Rs 116 crore in Stock futures
FIIs Fig :
US markets gained ahead of German FM briefing today on steps he may take to support the Greek government.

FIIs were net sellers of USD 172.3 million, while MFs were net buyers of Rs 37 crore in equity on 8 February.
As per provisional data on 9 February FIIs were net sellers of Rs 525 crore in cash markets, DIIs were net buyers of Rs 400 crore in cash markets and FIIs were net buyers of Rs 1020 crore in F&O.
US Markets :

U.S. stocks rallied broadly Tuesday on hopes that a rescue for Greece is in the works, with metals companies such as AK Steel and U.S. Steel and energy companies, including Massey Energy, among the beneficiaries as commodities climbed.

The Dow Jones Industrial Average rose 150.25 points, or 1.52%, to 10058.64, marking its biggest one-day point gain since Jan. 4 and its best day on a percentage basis since Nov. 9. Caterpillar was the DJIA's best performer after Morgan Stanley upgraded its investment rating on the heavy-machinery company's stock.
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