13 April 2010 Morning Market Updates

13 April 2010 Morning Market Updates  08:52
Infosys Q4 Results Updates :
India's second largest IT exporter Infosys Technologies has announced its fourth quarter results of FY10. It has reported 1.14% increase in its net profit.

Net Profit ay 1600 Cr Vs. 1582 Cr QoQ, just more than street expectations.
Recommendations :

Buy infosystch Above 2702 sl 2680 Target 2744

Buy Bajajhind Above 141 sl 138 Target 146


Sell Gail sl 414 Target 405
Hold short PNB Trail sl 1001 Target 971 / 964
Sell Nifty Fut Below 5303 sl 5345 Target 5265 / 5227
Sell BankNifty Fut Below 9490 sl 9550 Target 9412 / 9358
Sell Powergrid Below 108 sl 109 Target 106
Sell Cummins Below 513 sl 523 Target 505
Sell Drreddy Below 513 sl
Sell Kotakbank Below 758 sl 765 Target 747
Sell Apil Below 616 sl 624 Target 608
Hold short ACC Ref.12/04 Trail sl 955
Hold short Ranbaxy Ref.09/04 Trail sl 467 Target 456
Hold short Tatapower Ref.12/04 sl 1357 Target 1334
Hold short Sesagoa Ref.12/04 Trail sl 763 Target 452
Book profits in LT short Ref.09/04
Stocks in News :
Results today: Infosys, Essar Oil , Mastek , Blue Dart

Bharti Airtel -
-Bharti raises nearly Rs 8,000-10,000 crore from banks for 3G
-SBI sanctions Rs 4,500 crore loan at around 9% for 6 years
-SBI sanctions USD 500 million ECB at around LIBOR + 290 bps
-HDFC Group, Including IDFC, HDFC Bank to lend nearly Rs 4,446 crore
Atlas Energy :
-RIL's was not the only proposal received for JV
-In a position to add substantial acreage to JV
-Will shortly announce acquisition of acreage in Marcellus region
-JV will effectively eliminate revolver borrowing of USD 575 million
-JV to create excess liquidity, create fresh cash flows
-Finding & development costs for company could be as low as USD 0.20/mcf
SJVN :
-SJVN IPO price band expected to be around Rs 30/share
-SJVN to file RHP on Wednesday
-SJVN IPO to hit market on April 29
Geojit BNP Paribas Q4
-Sales at Rs 62.09 crore versus Rs 43.74 crore ( YoY)
-PAT at Rs 7.07 crore versus loss of Rs 10.93 crore
-Ace India issues & allotted 60.5 lakh convertible warrants to strategic investor
-Rolta acquires One GIS Inc of Atlanta, USA
-Country Club : Promoters have not exercised 7 lakh warrants allotted on October 01, 2008
-PVR : Board approved merger of Leisure World Pvt. Ltd. with PVR Ltd., Swap ratio of 152 shares of PVR against 100 shares in Leisure World Pvt. Ltd.
-HCC receives an order worth Rs 608 crore from Naval Project
-DCB promoters get time till 2014 to cut stake, bank looking to raise funds via QIP, rights issue.
-Aban Offshore forced to roll over its debt repayment, will now pay in tranches till 2019.
-Nalco gets go-ahead for Rs 14000 crore smelter project in Indonesia.
-Cairn raised estimates in its Rajasthan field on its own, says ONGC (ONGC is partner in the field)
Market cues:

Markets are likely to open sideways
All eyes on Infosys guidance
US markets end flat, Asia opens mixed
Crude slips to $84/bbl
Dollar index at 80.6
Fin Min restores status quo on ULIPs
SEBI, IRDA agree for legally binding order from court
FIIs were net buyers of USD 58.1 million in equities on April 9
NSE F&O Open Int was up by Rs 3047 crore at Rs 1.19 lakh crore
As per provisional data of April 12, FIIs were net buyers of Rs 14 crore, DIIs were net sellers of Rs 193 crore in cash markets. FIIs were net sellers of Rs 506 crore in F&O.
F&O cues:

Futures Open Int up Rs 603 crore, Options Open Int up Rs 2444 crore
Nifty futures add 9 lakh shares in Open Int, at 4-point premium
Nifty Open Int PCR at 1.29 versus 1.39
Nifty Puts Open Int unchanged, Nifty Calls add 37 lakh shares in Open Int
Nifty 5400 Put sheds 11 lakh shares in Open Int
Nifty 5400 Call adds 16 lakh shares in Open Int
Nifty 5300 Call adds 8.6 lakh shares in Open Int
Stock futures add 1.6 crore shares in Open Int
FIIs in F&O in April 12
Net buy Rs 13 crore in Nifty futures
Net sell Rs 170 crore in Nifty options
Net sell Rs 351 crore in Stock futures
US Market Updates :
In the US markets, indices closed in positive territory helped by a downturn in the dollar and aid plan for Greece. Dow rose about 0.1%, to close at 11,005.97. The S&P 500 closed still shy of the 1200 level at 1,196.48 after reaching as high as 1,199.20 intraday. The Nasdaq gained 0.16%.





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