19 Feb 2010 Morning Market Updates

19 Feb 2010 Morning Market Updates 08:54


Market will slide at the opening bell as Asian were trading lower inspite of US were gainers.Nifty will open around 4840 and may take support at 4810.Stock specific rally expected.Fertilizer,Infrastructure and Agriculture sectors will be in limelight.
Recommendations :
Note : Follow Sell recommendations in negative market bias and v.v.
Sell Bhel Below 2356 sl 2365 Target 2340
Sell Cipla Below 316.50 sl 321 Target 310
Sell Gail sl 408 Target 400
Sell Grasim sl 2722 Target 2669
Sell ITC Below 248 sl 250 Target 245
Sell jindalsteel sl 626 Target 616 / 611
Sell JPAssociat Below 132.5 sl 135 128
Sell M&M Below 1007 sl 1024 Target 965 Positional
Sell Maruti sl 1069 Target 1040
Relinfra (Hold short)trailing sl 1032
Sell STCIndia sl 514 Target 499
Sell Unitech sl 73 Target 68
Buy HDFCBank sl 1660 Target 1704
Buy Hindalco Above 155 sl 149 Target 162
Buy ICICIBank sl 835 Target 850
Buy IDFC sl 151 Target 158
Buy NTPC Above 206 sl 203 Target 209 / 213 Positional
Buy Powergrid Above 109.5 sl 107 Target 112
Stocks In News :
Results today: Clariant Chemicals, Nestle, SKF India, Wyeth
REC FPO opens today (to 23rd February); floor price at Rs 203/share
Thangamayil Jewellery to list today
Issue price at Rs 75 (higher end of price band of Rs 70-75)
Issue size at Rs 28.75 crore; Total Subscription at 1.12
Texmo pipes IPO (closes today)
Total subscription 1.75 times (X)
QIBs at 1.02X, NNIs at 5.62X, Retail at 1.22X, employee at 0.057X
Man Infraconstruction (18-22 Feb)
Total subscription 3.1X
QIBs at 4.13X, NNIs at 8.73X, Retail at 0.195X
Next listings :
Aqua Logistics on February 23
DB realty on February 24

Cabinet okays nutrient-based fertiliser subsidy plan
Govt says:Nutrient-based subsidy plan to come into effect from April 1
New Fertiliser Policy allows cos to fix retail fertiliser prices
New fertiliser policy to help attract fresh investment
Companies to decide fertiliser prices; subsidy fixed
Companies can fix only nutrient- based fertiliser prices
Fertiliser companies have assured to maintain price line this year
To up urea prices by 10% from April 1
Urea prices to rise by Rs 483/t from April 1
To ensure non-urea based fert prices remain stable
Have right to intervene to keep fertiliser prices stable
Bhati may sell stake to Singtel to raise funds.
Aim to complete Zain's due diligence by March 15
USD 10.7 billion EV is value of holding company
100% stake to be bought in holding company
Interest cost will be significantly less than 7%
Levers for revenue improvement
Increasing usage through low cost (opex & capex) models
Increasing mobile penetration
Board defined criteria for acquisition; Zain meets criteria
Board firmly behind Zain deal
RIL has till February 19th to better LyondellBasells (LB) proposal: Srcs
RIL to seek extension if decides to better proposal:Srcs
LB says RIL needs to submit more compelling offer
CRISIL Q3:
Consolidated net profit at Rs 44 crore
Consolidated income from operations at Rs 148 crore

Other stocks that are in news today:
Great Offshore board meet today to consider raising of funds by way of further issue of securities.
Govt says European Union may cut India Import quota if sugar not supplied
Sources say UK govt confirms Mothballing of Teesside to begin today
More investors exit Vedanta on concerns over its human rights record
Taro to shut down irish plan to trim losses.
Indsil Hydro to form a 50:50 JV for setting up a 75,000 tpy ferro chrome smelter in Oman; cost Rs 140 crore (stock up 7.1%; volume at 60000)
Jyothy Laboratories launches multi-insect repellent in technological association with DRDO
Jaihind Projects - Order awarded from Gujarat State Petronet Ltd for total amount of Rs 48 crore
No circuit filter in Rajkamal Synthetics, Joy Reality, Gujarat Raffia, Atharv Enterprises
PFC to pick up stake in select power projects to utilize surplus cash of Rs 10,000 crore.
Spicejet in talks with Kalanithi Maran to sell stake to raise USD 100 million
Market cues:
Fed has raised discount rate by 25 bps. The Dollar index surged to 81.
FIIs were net buyers of USD 266 million on February 17
MFs were net buyers of Rs 262.6 crore on February 17
NSE F&O Open Int was up Rs 1,189 crore at Rs 1,20,754 crore
As per provisional data of February 18 FIIs were net sellers of Rs 351 crore and DIIs were net sellers of Rs 123 crore in the cash markets. FIIs were net sellers of Rs 48 crore in F&O.
F&O cues:
Futures Open Int up Rs 564 crore, Options Open Int up Rs 625 crore
Lackluster action in Nifty futures & options, huge build-up in Stock futures.
Stock futures add 5 crore shares in Open Int
Nifty futures shed 1 lakh shares in Open Int
Nifty futures at 1-point discount
Nifty Open Int PCR unchanged at 1.09
Nifty Puts add 3.6 lakh, Calls add 5.4 lakh shares in Open Int
Nifty Mar 4900 Put adds 4.6 lakh shares in Open Int
Nifty Feb 4900 Put sheds 2.6 lakh shares in Open Int
Nifty Feb 5000 Call adds 3 lakh shares in Open Int
FIIs in F&O on February 18
Net sell Rs 350 crore in Nifty futures
Nifty Open Int unchanged
Net buy Rs 166 crore in Nifty options, net buy Rs 134 crore in Stock futures

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