24 Feb 2010 Morning Market Updates

24 Feb 2010  Morning Market Updates 08:55
Global indices again affect our market.Nifty will open around 4840.Nifty has a support at 4825.If it breaks it may touch 4770.
Recommendations :
Buy Jindalstel Above 621 sl 610 Target 630
Buy Ster Above 759 sl 756 Target 771
Hold Ambujacem short sl 105 Target 102
Sell BPCL Below 574 sl 579 Target 568
Sell Cairn sl 265 Target 257
Sell JPAssociat Below 131 sl 133 Target 129
Sell Tatamotors Below 692 sl 700 Target 680
Sell Adanient Below 486
Sell Mcdowell-n Below 1297
Stocks that are in news today:
DB realty listing today may list below issue price*.
Issue price of Rs 468 (lower end); Overall subscription at 2.95x
Emmbi polyarns lists today
Issue price at 45 (upper end of 40-45); subscribed 1.2X
REC FPO Update:
Overall Subscribed 3.1x
QIB 5.6x, NII 1.7x,Retail 0.2x
UBI IPO (closes tom)
Total subscription at 1.88X
QIB at 3.2X, NNI at 0.004X, Retail at 0.122X
From Sources:
FII Demand At 1x REC FPO Book
40% Demand Seen From FIIs, 40% From Insurance Cos; 13% Demand Seen From MFs, 7% From Banks
Fully Subscribed At 206/sh As Part Of French Auction Process
Most FIIs & MFs Bids At Rs 206/sh
LIC May Not Get Any Allotment As Its Bid Was At Rs 205/sh
44% Of Demand Came At Rs 205, 30% At Rs 206 & 9% At Rs 204
Govt Srcs
Govt Satisfied With Bids For REC FPO
As Many As 116 FII’s Applied In FPO; Most Bids By FII’s Were Around Rs 206
Results today:
Bata, Heidelberg cem, Mphasis, Strides Arco, Parle, Aventis Pharma, Alfa laval
Hathway Cable & Datacom to list tomorrow
Bharti Zain Deal :
Bharti's Zain Funding Plan Likely By Wednesday-Thursday
StanChart & Barclays Have Committed $5 Bn Each
Debt To Be Medium-term In Nature; Debt May Be Prepaid Prior To Term
Vendor Financing An Option For Long Term Zain Ops
Maruti :
1 Lakh 'A-Star' Recall Includes Nissan Pixo
Suzuki Has Already Serviced 50,000 Units Out Of 1 Lk Cars
Cost Of Replacing 'A-Star' Gasket Is Not Significant; Cost Already Been Written Off.
Recall Ratio Is 60:40 For Exports:Domestic
Maruti Says:
Replacing gasket for all A stars manufactured till august 09
No Significant Financial Liability On Account Of Recall
Mahindra Forgings QIP Issue Closes :
Raises Rs 175 Cr (Upper-end Of Book); QIP Issue Priced At Rs 107.75/sh
Post Equity Dilution Of 19.2%
Vesuvius India Q3:
Net Profit At Rs 10.1 Cr Vs Rs 5.8 Cr
Net Sales At Rs 103 Cr Vs Rs 82.2 Cr
Other stocks and sectors in the news
Satyam Says Filed Lawsuit Against Upaid On Monday
Nagarjuna Constructions bags Rs 648 cr road projects in Hyd; Project part of civil works in outer ring road
Govt has finalized the pre-qualifying bid for the 12,000cr Hyd Metro Rail Project
Players are L&T, Lanco Infra, Reliance Infra, Essar-Gayatri consortium, GMR Infra, GVK-Samsung, Transstroy-OJSC & Soma-Strabag
HMRL to go for financial bid in April
MindTree board okays raising $100 m via debt
Texmaco to hive off engineering, steel foundry unit into new subsidiary
ATC to buy Essar Tele Infra for $450m
Gujarat Petrosynthese buy back at Rs 40/sh
Spectacle Industries bd approves Pref issue to non-promoters of upto Rs. 18 cr and inv upto Rs 30 cr


Parenteral Drugs signs MOU with Kenya based pharmaceutical Company


No ckt filter on VSF projects


Market cues:
FIIs were net buyers of USD 8.59 million and MFs were net buyers of Rs 89 crore in equities on February 22
NSE F&O Open Int was up by Rs 1,520 crore at Rs 1,23,511 crore
As per provisional data of February 22, FIIs were net buyers of Rs 551 crore in cash markets, while DIIs were net sellers of Rs 180 crore in cash markets. FIIs were net buyers of Rs 273 crore in F&O.
F&O cues:
Futures Open Int up Rs 423 crore, Options Open Int up Rs 1097 crore
Nifty futures net Open Int unchanged
Nifty Feb at par with spot, Mar at 2-point discount ((Absolutely no incentive for any trader to roll either short or long position through the day))
Nifty Open Int PCR at 1.07 versus 1.04
Nifty Puts add 23 lakh shares, Calls shed 1.4 lakh shares in Open Int
Nifty Feb 4800 Put adds 5.8 lakh shares in Open Int
Nifty Mar 4800 Put adds 3.5 lakh shares in Open Int
Stock futures add 2.5 crore shares in Open Int
FIIs in F&O on February 23
Net buy Rs 546 crore in Nifty Futures
Nifty Futures Open Int up 4,128 contracts
Net sell Rs 581 crore in Nifty Options
Nifty Options Open Int up 5,728 contracts
Net buy Rs 273 crore in Stock Futures
Stock Futures Open Int up 21,761 contracts
Us Market:
In the US markets, stocks closed near session lows in their worst single-session percentage loss in more than two weeks on disappointing consumer confidence reading. The February consumer confidence index came in below expectations at a 10-month low of 46. The dollar's strength also weighed on sentiment.
The Dow lost about 101 points to end at 10,282.41. The Nasdaq and the S&P 500 too declined over a percent.
The dollar bounced back after a quiet previous session. The dollar index climbed half a percent higher after the dollar extended a moderate gain from the early going.
Strength in the dollar index did not help as the CRB commodity index lost 1.5% this session. Crude broke below the USD 80 levels and slipped nearly 2% to close to 79 dollars.
Base metals were mired at lower levels during late trade as the robust dollar wiped out gains. Copper fell the most in almost three weeks after a report showed that confidence among US consumers slid to the lowest level since April.
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