16 Feb 2010 Morning Market Updates

16 Feb 2010  08:56
Nifty will open flat today and may trade in limited frame as most Asian markets like China,Hong Kong,Singapore and Taiwan are closed today.While Nikkei was marginaly down by 0.78%.
Stock specific movement will be expected.
Recommendations :
Follow buy calls in positive market bias and v.v.
Buy Nifty Fut Abv 4835(spot)
Buy Banknifty Fut Abv 8437(spot)
Buy Abb Abv 795 sl 789 Target 800
Buy Apil Abv 530 sl 526 Target 534 / 538
Buy JPAssociat Abv 133.25 sl 131 Target 137
Buy Aban sl 1179 Target 1205
Buy Jindalstel sl 830 Target 842
Buy Cipla sl 314 Target 320
Buy Bhel sl 2347 Target 2366
Buy JSWsteel
Sell Ster sl 750 Target 739 / 734
Sell Relinfra Below 1042 sl 1051 Target 1030
Sell Glenmark Below 252 sl 256 Target 249 / 244
Stocks in News :
Tata Steel consolidated results today
Texmo IPO opens today for subscription Price Band : Rs 85-90
Market cap: Rs 95.8 crore – Rs 101.4 crore
French Auction decision reversed after NTPC FPO: Exclusive
NMDC FPO likely via book building process
NMDC FPO was likely to go via French auction route
NMDC FPO likely in March second week & Govt to divest 8.38% stake in NMDC
Zain’s Nigerian unit raises objection to Bharti-Zain talks.
Kharafi Group Says
Our group owns about 26% in Zain
Bharti is going to acquire assets of Zain in Africa
Bharti will have to pay USD 10 billion by April 15
No regulatory hurdles in Kuwait
No other hurdle in Africa for Bharti
Zain concentrating on Middle East
Bharti-Zain has fair deal with each other
Zain Africa has debt of USD 1.7 billion
USD 2.3 billion debt given to Zain International
Zain International will pay back USD 2.3 billion debt to us
USD 1.7 billion is working capital debt which will be there in Africa
USD 10.7 billion of cash will be paid to Zain parent by year end
Kuwait Investment Authority is also on board for stake sale
PVR & DT Cinemas call off acquisition talks:
DT Cinemas couldn't comply with certain conditions
DLF gave no clarity on lease hold premises
Deal failure a minor hitch in long-term strategy,would like to pursue/revive deal at a later date.
Need cooling off period before deal can revive
PVR was fully committed to decided price
PVR not dependent only on inorganic growth
DT Cinemas is DLF group company
PVR Says
DT Cinemas Exhibition operations buy pact terminated
Deal terminated as DT Cinemas did not meet buy pact terms
Orbit Corp Says
IT Officials raised queries on Rs 58 crore deal
Company is in process of compiling responses to all IT queries
Believe that there will be no revision in revenue or profit
3G Auction-
Govt may auction 2 slots of 3G this fiscal
Final decision may be taken shortly
NHAI sets new norms for project bidding – bars developers from bidding for new projects if the company has not achieved financial closure of 3 or more projects – BL (Move to hit companies like HCC, IVRCL, IRB Infra, Reliance Infra and Sadhbav Engg)
ATF prices slashed 2.5%, relief for airlines
BILT (Ballarpur Industries) make USD 200 million bid for Malaysian paper company GS Paper and Packaging.
Birla Shloka board approves to raise limits upto Rs 75 crore by way of ADR / GDR (recently completed FPO)
Golden Tobacco board meet today to consider development of the properties
Jyoti Structures board approves issue of non-convertible debentures with detachable warrants upto Rs 125 crore.
Gwalior Chemical buyback at Rs 120
Multifarious trading open offer at Rs 20/sh
Market Cues :
FIIs were net buyers of USD 75.5 million in cash on February 11. MFs were net buyers of Rs 1.5 crore in cash on February 10
As per provisional data of February 15, FIIs were net buyers of Rs 196 crore and DIIs were net sellers of Rs 114 crore in cash markets. FIIs were net buyers of Rs 1077 crore in F&O.
F&O Cues :
Total F&O Open Interest up by Rs 2,834 crore at Rs 1,17,556 crore

Total Futures Open Interest up by Rs 518 crore
Total Options Open Interest up by Rs 2,316 crore
Stock Futures Add 2.26 crore shares in Open Interest
Nifty Calls add 30.8 lakh shares in Open Interest
Nifty Puts adds 13.2 lakh shares in Open Interest
Nifty PCR at 1.02 versus 1.04
Nifty Feb 4800 Call adds 15.9 lakh shares in Open Interest
Nifty Feb 4300 Put adds 8.1 lakh shares in Open Interest
Nifty Feb 4900 Call adds 7 lakh shares in Open Interest
Nifty Feb 5200 Call adds 3.6 lakh shares in Open Interest
FIIs in F&O on February 11
Net buy Rs 108 crore in Nifty Futures
Nifty Futures Open Interest down by 5747 contracts
Net buy Rs 186 crore in Nifty Options
Nifty Options Open Interest up by 15353 contracts
Net sell Rs 1.4 crore in Stock Futures

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