25 Feb 2010 Market Mornin Updates

25 Feb 2010 Market Morning Updates  08:55
Stocks in News :
Nifty will open slightly positive as Asian indices are trading flat.Nifty was rangebound between 4822 and 4895 similarly BankNifty was in 8412 to 8558.At anypoint,if they sustain above or below these levels will give a smart rally.Bounceback expected in sugar stocks like Renuka and Bajajhind, also some power stocks like RPower and Suzlon.Relcapital and Bank of India should be watchful.
Recommendations :
Follow Buy calls in positive market bias and v.v.
Buy Idea sl 57 Target 60

Hold Long Jindalstel sl 616 Target 632
Buy LT sl 1487 Target 1524
Buy Maruti sl 1352 Target 1378
Buy NTPC sl 202 Target 208
Buy Powergrid sl 99 Target 109 / 114 (Positional)
Buy Ranbaxy sl 445 Target 458
Buy Unionbank sl 246 Target 257
Buy Glodyne sl 555 Target 580 / 605
Buy Ster sl 757 Target 770
Buy Gail above 410 sl 406 Target 416
Buy Grasim above 2664 sl 2645 Target 2703
Buy SBIN above 1935 sl 1911 Target 1962
Buy Tatapower above 1266 sl 1253 Target 1281
Buy Unitech above 72 sl 71 Target 74
Buy Canbk above 384 sl 380 Target 389
Buy PFC above 243 sl 239 Target
Buy Tulip above 961 sl 952 Target 969 / 979
Sell Bhel below 2347 sl 2361 Target 2322

Sell Herohonda below 1656 sl 1675 Target 1631
Sell PNB sl 879 Target 862
Sell Sunpharma below 1525 sl 1540 Target 1506
Sell Tatamotors sl 690 Target 672
Sell Adanient below 487 sl 492 Target 477
Sell Bankbaroda sl 571 Target 561
Sell BEL below 2008 sl 2037 Target 1970 (Positional)

Stocks in News :

Vishal Retail :CDR committee meeting postponed
Vishal Retail CDR meeting to be held on March 12
Strategic investor's proposal was to be tabled yesterday
Delay in final proposal caused delay in CDR meeting
Aventis Pharma Q4 From NSE
Net sales at Rs 237.1 crore versus Rs 269.9 crore (YoY)
Net profit at Rs 26 crore versus Rs 45.3 crore (YoY)
Maruti update
Maruti Suzuki to launch new WagonR by April 2010
New WagonR will sport a new K-Series 1 litre engine
New WagonR to be priced about Rs 3.3 lakh
Old WagonR will be phased out
MphasiS Q1 (QoQ)
Consolidated revenues up 5.2% to Rs 1191.6 crore (JPM estimate: Rs 1145 crore)
Operating margin at 22.5% versus 21.9%
Net profit at Rs 268.3 crore versus Rs 245 crore, up 9.5% (JPM Estimate: Rs 222.6 crore)
Alfa Laval Q4:
Net sales at Rs 237.3 crore versus Rs 237 crore (YoY)
Net profit at Rs 33 crore versus Rs 20.7 crore (YoY)
Other stocks that are in news today:
Kotak Mahindra Bank to replace Grasim in Nifty from April 8
Hathway Cables to list today
NMDC USD 3 billion share sale to open on March 10 – sources
Rahul Bajaj sells 35.35 lakh shares (50% stake) of Bajaj Electricals to Shekhar & Anant Bajaj
MindTree to raise USD 100 million via debt, board approved raising of equity by issuing 15% of the current issued capital
Strides Arcolab allotted 25.6 lakh shares on conversion of warrants to promoter group company @ Rs 91.15/sh
Fulford India raised Rs 40.25 crore by issuing 7 lakh shares @ Rs 565 to its promoters Dashtag
Sasken Communication fixes preferential issue of warrants at Rs 176 to promoters
Gammon India bags Rs 137.3 crore order from ISKCON
Indian ADRs :
Indian ADRs ended mostly in green on Wednesday. In the IT space, Infosys was up 1.71% at $ 56.47, Satyam Computers was up 1.18% at $ 5.16, Wipro was up 1.06% at $ 21.01 and Patni Computers was up 0.52% at $ 21.12.

In the banking space, HDFC Bank was up 1.54% at $ 121.47 and ICICI Bank was up 0.72% at $ 36.6. In the telecom space, Tata Communication was down 0.55% at $ 12.55 and MTNL was down 1.27% at $ 3.0805.
In other sectors, Sterlite Industries was up 2.48% at $ 16.53, Dr Reddy’s Labs was up 1.32% at $ 24.55 and Tata Motors was up 0.33% at $ 15.2.
Market Cues :

NSE F&O Feb series expiry today :
FIIs were net buyers of USD 161.25 million in equities on February 23
NSE F&O Open Int was up by Rs 252 crore at Rs 1,23,763 crore
As per provisional data of February 24 FIIs were net buyers of Rs 486 crore, while DIIs were net sellers of Rs 155 crore in cash markets. FIIs were net sellers of Rs 747 crore in F&O.
F&O cues:

Marketwide rollover at 59% versus D-1 avg of 60%
Nifty rollover at 55% versus D-1 avg of 60%
Strong rollovers in auto (73%), telecom (72%)
Low rollovers in construction stocks (56%)
Low rollovers in HDIL (48%), Unitech (53%)
Low rollovers in IFCI (59%), Hindalco (55%), GVK (57%)
High rollovers in REC (93%), Idea (80%)
High rollovers in Tata Mot (71%), Balram Chini (80%)
Expiry Day Stats
Total Futures OI 7% lower than last series
Nifty Futures OI 17% lower than last series
FIIs in F&O on February 24
Net sell Rs 700 crore in Nifty futures
Nifty Futures Open Int up 58,542 contracts
Net sell Rs 250 crore in Nifty options
Nifty Options Open Int up 11,929 contracts
Net buy Rs 277 crore in Stock futures
Stock Futures Open Int up 10,078 contracts
US Markets :
The US stocks closed higher after a knee jerk reaction in early trade. Markets got support as the dollar pulled back and Fed chairman Ben Bernanke pledged to keep rates low for a long time in his semi-annual testimony before congress. Stocks had slipped in initial trade on disappointing new home sales for January.
The 11.2% drop in home sales was their worst monthly downturn since January 2009. Financials were among the top gainers.

The Dow ended with 0.9% gain, clawing back most of the 100 points it lost in the prior session's selloff. The S&P 500 & the Nasdaq saw one percent gains.
The dollar fell as comments by US Federal Reserve chairman Ben Bernanke dampened speculation that a tightening of monetary policy might be nearing. However, the greenback recovered some losses in late trade yesterday.

Industrial metals lagged the broader commodity index this session. Although copper futures were modestly higher, aluminum and nickel futures slipped over a percent.

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