29 March 2010 Morning Market Updates 08:55

29 March 2010 Morning Market Updates 08:56
Today market will open flat.Nifty closed on such a crucial points that both the bulls and the bears are in dilemma.Nifty resistance is at 5310 now and any considerable sustainment above this level will indicate a rally towards 5500.Contrary, bears are considering much possibility to correct the market upto 5150 levels.
We suggest trail your stops in stock specific play and also book profits accordingly.
Recommendations :
Follow Buy calls in improving market and v.v.
Buy Hindunilvr Above 240 sl 236 Target 246
Buy ONGC sl 1070 Target 1094
Buy BankIndia Above 329 sl 323 Target 338 / 344 Positional
Buy Canbk sl 409 Target 424
Buy Federalbnk Above 260 sl 257 Target 265
Buy Glenmark sl 249 Target 258
Buy IOB Above 91 sl 90 Target 94
Buy Kotakbank Above 764 sl 756 Target 772 / 782
Buy LICHSGFIN sl 812 Target 826
Buy Mphasis Above 658 sl 651 Target 665
Buy Videoind sl 229 Target 238
Buy Orbitcorp Above 278 sl 272 Target 286
Buy Yesbank sl 246 Target 256
Buy IVRCLInfra sl 166 Target 169 Stocks in News :-DQ entertainment listing today (issue price at Rs 80; subscribed 86.3 times (X))

Sell Relinfra sl 1016 Target 992
Sell Siemens below 734 sl 746 Target 710 Positional





-NMDC - Listing of divested shares today
-Alert: IL&FS transportation to list shares tomorrow
IPO Updates :
Goenka Diamond
-Total subscription at 1.07X
-QIB at 0.78X, NII at 3X, Retail at 0.66X
Intrasoft Technologies
-Total subscription at 18.95X
-QIB at 21.96X, NII at 21.6X, Retail at 13.5X
Infra Sector
-February Infrastructure sector growth at 4.5% versus 1.9% (YoY)
-April-February Infra sector growth at 5.3% versus 2.9% (YoY)
M&M likely to freeze investments in Renualt JV – ET
M&M – Reva: Sources Say
-M&M eyeing majority stake in electric car-maker Reva
-M&M & Reva promoters begin preliminary talks
-M&M declines to comment on this story
-Reva promoter Chetan Maini: 'will have to deny that today'
Reva says:
-Focussed on tech licensing tie-up with GM
-Will look at other players for tech licensing
Deepak Parekh:
-Mulling creating SPV with non- listed, non-subsidiary Investment
-PE players approached seeking formation of SPV
-Investments' SPV formation over next year
-Investment book value at Rs 200- 300 crore, market value much more
SJVNL sources say
-IPO likely in first week of May
-IPO delay due to incomplete board
Pipavav-Punj
-Punj Lloyd to exit Pipavav Shipyard

-Punj Lloyd to sell 19.43% stake to SKIL Infra for Rs 656 crore in 2 tranches @ Rs 50.75/sh
-SKIL Infra to make an open offer for 20% stake at around Rs 61.5/sh
Other stocks and sectors that are in news today:
-Tata Steel to raise USD 600 million via GDR in 6 months.
-Industry groups unlikely to get banking licences.
-Stricter rules for insurers looking for an IPO, company must reveal profit projections and pacts with foreign partners.
-Videocon rights issue opens today
-Reliance Life may sell 26% to Swiss Re – Mint (its Reliance Cap Sub)
-Adani plans huge Kalinga port, Rs 10,000 crore deep-water project may be largest private post in country.
-Bhilwara Energy plans to raise Rs 3000 crore to funds its hydro projects.
Ex – date: M&M stock split from Rs 10 to Rs 5
REpower to deliver 15 wind turbines for project in Poland
-Mahindra Ugine board approves investing Rs 36.65 crore to set up stamping unit at Pantnagar, Uttarakhand
-DIC India - Executes definitive documentation for sale of investments in subsidiary DIC Coatings to Valspar (Singapore) Corporation
-Weizmann board approves merger of Karma Energy and Weizmann Forex with Weizmann Ltd and demerger of power biz of Weizmann Ltd into Karma Wind Power
-JIK Industries issues 2.9 crore fully convertible bonds to promoters and others as a part of BIFR
-Women networks open offer a Rs 21.5/share
-Hinduja Foundries rights issue opens today
-Adani Enterprises rights issue opens on March 31, closes on April 15th (ratio 1:16, priced at Rs 474/sh
-Suashish Diamonds delisting offer via book building process, sets floor price of Rs 220/sh
Board meets today:
-Sakthi Sugars – FY09 results
-Compulearn - issue Equity Shares and Equity share warrants of the Company on preferential allotment
-Lancor Hold - to consider, adopt and take on record the Placement Document for issue of Equity Shares (QIP Issue).
-Neha International - consider allotment of convertible share warrants/Equity shares to promoters & investment in wholly owned subsidiaries
F&O cues:

Total Futures Open Int up by Rs 2303 crore
Total Options Open Int up by Rs 4139 crore
Stock Futures add 4 cr shares in Open Int
Nifty up 0.4%, Open Int up 7.5%
Nifty Open Int PCR at 1.17 from 1.23
Nifty Calls add 38 lakh shares in Open Int
Nifty Puts add 27.2 lakh shares in Open Int
Nifty April 5400 Call adds 12.5 lakh shares in Open Int
Nifty April 5300 Put adds 7.4 lakh shares in Open Int
Nifty April 5600 Call adds 6.8 lakh shares in Open Int
Nifty April 5300 Call adds 6 lakh shares in Open Int
FIIs in F&O on March 26
Net buy Rs 220 crore in Nifty Futures
Nifty Futures Open Int up by 17187 contracts
Net buy Rs 1036 crore in Nifty Options
Nifty Options Open Int up by 67495 contracts
Net sell Rs 223 crore in Stock Futures
Stock Futures Open Int up by 16373 contracts
Market cues:

FIIs were net buyers of USD 240 million in equities on March 25
MFs were net sellers of Rs 71.5 crore in equities on March 25
Total F&O Open Int was up by Rs 6442 crore to Rs 85,575 crore
As per provisional data of March 26, FIIs were net buyers of Rs 591 crore, DIIs were net buyers of Rs 50 crore in cash markets. FIIs were net buyers of Rs 929 crore in F&O.
US Markets :
The Dow and S&P ended flat on Friday, giving back earlier gains after the sinking of a South Korean naval ship, while tech shares' weakness kept the Nasdaq in slightly negative territory.The Dow Jones industrial average rose 9.15 points, or 0.08%, to end at 10,850.36. The Standard & Poor's 500 Index inched up just 0.86 point, or 0.07%, to 1,166.59. But the Nasdaq Composite Index slipped 2.28 points, or 0.10%, to close at 2,395.13.

There were roughly an equal number of advancers and decliners on the New York Stock Exchange, while on the Nasdaq, slightly more stocks fell than rose.

Stocks initially rose after European Union leaders said they had agreed on a standby aid package for Greece, and after better-than-expected March consumer sentiment data.
The Nasdaq felt the weight of Oracle Corp, which fell from a nine-year high a day after reporting quarterly results that beat expectations. The stock slid 1.3% to $25.69, while software bellwether Microsoft dropped 1.2% to $29.66.
Discalimer:This document has been prepared by the Research Division of Integrity Financial Consultants Pvt. Ltd.,Pune, India and is meant for use by the recipient only as an informative. This document is not to be reported or copied or made available to others without prior permission of iNTEGRITY. It should not be considered or taken as an offer to Buy or Sell or a solicitation to Buy or Sell any security. The information contained in this report other than recommendations has been obtained from sources that are considered to be reliable. However, iNTEGRITY has not independently verified the accuracy or completeness of the same. Neither iNTEGRITY nor any of its affiliates, business associates, its directors or its employees accept any responsibility of whatsoever nature for the information, statements and opinion given, made available or expressed herein or for any omission therein. Recipients of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well as the market related investments are subject to market risk and volatility. The suitability or otherwise of any investments will depend upon the recipient's particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor. Either iNTEGRITY and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives may have position(s), make market, act as principal or engage in transactions of securities of companies referred to in this report and they may have used the research material prior and / or after to publication. The information shared in this blog may be and or may not be 100% perfect as it is being shared from many sources. It is recommended for the recipients to take their decisions according to re-verification of the shared information. No arguments and / or claims and / or objections will be entertained.

Contact Details :

Email : info@integrity.org.in

Call : +91 99750 60000

For Abroad Investors : +91 9371031008