Market will continue the trailing rally of Friday as the Asian markets are enough positive.Nifty will open beyond 4900 mark.It has a resistance at 4950 levels.
Recommendations :
Buy Maruti sl 1364 Target 1384
Buy ABB sl 798 Target 814
Buy HDFCBank sl 1685 Target 1705
Buy HDFCBank sl 2470 Target 2516
Buy Educomp sl 700 Target 724
Hold BankNifty sl 8428 Target 8551 / 8611
Sell Bhel sl 2361 Target 2336
REC FPO (closes tomorrow)
Total subscription at 0.29 times (X)
QIBs at 0.518X, NII at 0.192X, Retail at 0.005X, Employee at 0.012X
Man Infraconstruction (closes today)
Total subscription at 6.87X
QIB at 11.62X, NII at 9.06X, Retail at 0.446X, Employee at 0.002X
Shree Renuka Sugars: First on CNBC
Buys 51% stake in Brazil’s Grupo Equipav for Rs 1,530 crore
No need of open offer as Equipav is unlisted entity
Renuka may look to increase stake in Equipav
Deal to be funded by internal accruals, debt, warrants issue
Alert: Last November, company bought Brazil’s based sugar and ethanol producer VDI for an EV of USD 240 million ((to be paid in 8 years))
Alert: Company has raised Rs 506 crore @ Rs 137 in July 2009
Fame Counter Offer by ADAG
Reliance Mediaworks & PAC - Reliance Capital Partners & Reliance Capital make counter offer for Fame
Open offer for 2.16 crore shares or 62.08% of Fame India at Rs 83.40/share
On successful counter bid ADAG to hold 74.22% of issued equity
Counter offer subject to statutory and regulatory approval
Offer size 2.16 crore shares, 62.08% issued equity or 52.48% of emerging equity capital
ALERT: ADAG holds 42.24 lakh shares or 12.14% issued eq in Fame India
ALERT: Inox acquired 50.48% of Fame's issued equity
ALERT: Inox open offer at Rs 51/share for 82.31 lakh shares
Reliance Industries CNBC-TV18 Exclusive: Sources
RIL stays in race for Lyondellbasell
Meets deadline by submitting an updated offer for LB
RIL's revised offer comprises 'marginal' hike
RIL tweaks the proposal it had submitted for LB in December 2009
RBI
RBI cuts rate cap on banks' export credit to LIBOR+200 bps
RBI says rate cap on Fx export credit cut by 150 Bps
Rate cap cut on banks' FX Export credit effective immediately
RBI Says
Cuts rate cap on credit lines with overseas banks by 50 bps
Daily interest pay on savings bk account mandatory from April 1
Nestle India Q3:
Net profit at Rs 113 crore versus Rs 121 crore
Net sales at Rs 1,352 crore versus Rs 1,090 crore
Other stocks that are in news today:
GMR joins race for Star Aviation – TOI
NMDC to acquire 50% stake in Brazallian operations of Ferrous Resources for USD 2.5 billion – ET
Bharti has lined up USD 9 billion of long term loans from foreign and domestic banks
ETListing alert: Aqua Logistics on February 23; DB realty on February 24
Great Offshore okays raising up to Rs 1,750 crore
Cadila Healthcare to mull bonus share issue on February 25
Essar in talks to acquire Royal Dutch’s liabilities in Europe – FE
Ansal API to set up food/agro SEZ in Haryana – DNA
Maruti Suzuki India to spend Rs 200 crore to create company-owned stockyards & model showrooms By FY12
Bajaj Auto’s plans to acquire majority stake in KTM hits barriers as promoters of KTM declared it will not dilutes is 51% stake in company – BS
HDFC Bank hikes deposit rates by 150 bps
Aurobindo Pharma gets USFDA ok for generic antibacterial Bactrim
Torrent Pharma gets tentative US FDA nod for generic levofloxacin
MIC Electronics bags Parramatta League Club order to Install 120 sqm screen for 3 years
Zuari Industries board meet today to approve the Scheme of amalgamation of Gobind Sugar Mills Limited with Zuari
HK finechem open offer at Rs 25.2/share (cmp at 23.8)
F&O cues:
Futures Open Int down Rs 274 crore
Options Open Int up Rs 655 crore
Nifty Feb Futures shed 17 lakh shares
Nifty Mar Futures add 17 lakh shares in Open Int
Nifty Feb at 1-pt prem, Mar at 4-point disc
Nifty Open Int PCR at 1.05 versus 1.09
Nifty Puts shed 8 lakh shares in Open Int
Nifty Calls add 18.6 lakh shares in Open Int
Nifty 4900 Put sheds 8 lakh shares in Open Int
Nifty 4900 Call adds 8 lakh shares in Open Int
Stock Futures add 2.4 crore shares in Open Int
FIIs in F&O on February 19
Net sell Rs 603 crore in Nifty Futures
Nifty Futures Open Int up 4,783 contracts
Net sell Rs 178 crore in Nifty Options
Net sell Rs 229 crore in Stock Futures
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