15 April 2010 Morning Market Updates

15 April 2010 Morning Market Updates 08:53
Recommendations :
Buy BPCL Above 513 sl 506 Target 519
Buy Hcltech Above 359 sl 354 Target 364
Hold Long Infosystch Ref.13/04 Trail sl 2753 T 2 2814
Buy JSWSteel sl 1254 Target 1283
Buy Nationalum sl 413 Target 419
Buy Neyvelilig Above 155 sl 153 Target 157
Buy Pateleng sl 470 Target 484
Buy TCS sl 815 Target 832
Weak Stocks :
Bhartiartl Below 305
HDFC Below 2720
IDFC Below 165
ICICIBank below 947
Relcapital below 780
Sell PFC sl 262 Target 256
Sell Rcom sl 175 Target 166
Follow Buy calls in positive market bias and v.v.
Stocks in News :
Videocon :Talks on between Kings XI and Videocon for sale of franchise
-Talks yet to materialise into a concrete deal
-All promoters of Kings XI to exit together
-Promoters looking at a valuation of over USD 200 million
-Team sale to only take place post IPL 3
KKR :
-KKR in talks to buy controlling stake in Firstsource
Essar Oil ( Q4’FY10 )
-Sales at Rs 10,456 crore versus Rs 6,815 crore (YoY)
-PAT at Rs 180 crore versus Rs 660 crore (YoY)
Rolta (Q3’FY10)
-Sales at Rs 394.56 crore versus Rs 375.56 crore (QoQ)
-PAT at Rs 67.1 crore versus Rs 62.79 crore (QoQ)
Other stocks and sectors that are in news today:
-Strides Arcolab gets USFDA approval for Granisetron Hydrochloride Injection
-Jaiprakash Power Ventures says: Jaypee Infratech has reserved 10% of its IPO for shareholders of Jaiprakash Power Ventures
-Moser Baer Photo Voltaic forays into Australian market (Clean Energy Council has allowed company to offer Silicon modules in Australia)
-Ciruit Filters to be kept open for Zee News today, goes ex-GEC business
-Ex-Dividend: Pfizer (Rs.12.5/share)
-Normal Monsoon seen this year – IMD, says formal report in second half of April.
-Binani Cement loses mine allocation in Chhattisgarh.
-Hindustan Zinc in race to acquire Anglo’s Zinc biz.
-Ranbaxy to voluntarily recall one of its antibiotics drug from US market
-ONGC to challenge govt’s soap rollback in HC.
-Balco stake sale final hearing to start from this Sunday.
-Adani Rights issue closes today
-Bolivia govt has warned Jindal Steel & Power (JSPL) of sticking to the terms of multi-million dollar contract.
Market cues:
FIIs were net buyers of USD 55.1 million in equities on April 12
NSE F&O Open Int was up by Rs 2286 crore at Rs 1.21 lakh crore
As per provisional data of April 13, FIIs were net buyers of Rs 128.5 crore, DIIs were net buyers of Rs 253 crore in cash markets. FIIs were net buyers of Rs 185.6 crore in F&O.
F&O cues:
Futures Open Int up Rs 537 crore, Options Open Int up Rs 1749 crore
Nifty futures add 3 lakh shares in Open Int, at 7-point premium
Nifty Open Int PCR at 1.28 versus 1.29
Nifty Puts add 10 lakh shares, Calls add 14 lakh shares in Open Int
Nifty 5200 Put adds 7 lakh shares in Open Int
Nifty 5300 Put sheds 5.2 lakh shares in Open Int
Nifty 5600 Call adds 5.4 lakh shares in Open Int
Nifty 5300 Call adds 4 lakh shares in Open Int
Nifty 5400 Call adds 4 lakh shares in Open Int
Stock futures add 1 crore shares in Open Int
US Market Updates :
Stocks finished near their highs of the session Wednesday, lifted by surging retail sales figures and blockbuster earnings on the same day the Federal Reserve said economic activity picked up in most parts of the country. The S&P 500 crossed the 1200 level for the first time since September 2008 on Wednesday, two days after the Dow Jones Industrial Average closed above the 11,000 mark since that same month. The Dow staged a triple-digit rally on the day, up 104 points, or 0.9%, to close at 11,123. The S&P 500 gained 13 points, or 1.1%, to 1211, and the Nasdaq went ahead by 39 points, or 1.6%, at 2505.Strong earnings reports from Intel(INTC) and JPMorgan Chase (JPM) were also supporting gains across the equity market.

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