20 April 2010 Intraday Call

20 April 2010 Morning Market Updates 08:51
Market will open on positive side today and become volatile after the monetary policy will be announced.Market expects and has already discounted 25 basis points rate hike.So any rate hike more than 0.25% will give the chance for a treat for bears.
Nifty Support at 5165
Nifty Resistance 5265-5280
Recommendations :
Buy Hindalco Above 181 sl 178 Target 185
Buy Axisbank Above 1171 sl 1165 Target 1187
Buy BPCL Above 509 sl 503 Target 518
Sell on Rise Bhel sl 2502 Target 2465
Sell DLF sl 321 Target 312
Sell Siemens sl 716 Target 696
Sell Tatasteel Below 667 sl 674 Target 652 Positional
Sell Rpower sl 155 Target 151
Sell Jindalstel Below 717 sl 723 Target 706
Follow Buy Calls in Positive market bias and v.v.
Stocks in News :
Results Today: Axis Bank, Ballarpur Industries, Great offshore, HCL Tech, Jindal Saw, Reliance Industrial Infra, Zee Entertainment
TCS Q4 (QoQ)
-Revenues up 1.17% to Rs 7738 crore versus Rs 5649 crore ( 2% in constant currency) ( Poll was Rs 7820 crore)
-Revenues up 3.1% in dollar terms (our poll was 4.4% and CLSA at 5% post Infosys 5.2% in USD terms)
-21 bps improvements in operating margins at 27.51% versus 27.30%
-Net profit up 9.67% at Rs 2001 crore versus Rs 1824 crore (poll was Rs 1808 crore)
Hero Honda Q4
-Net profit at Rs 598 crore versus Rs 402 crore, up 48.8% (YoY)
-Net sales at Rs 4,093 crore versus Rs 3,422 crore; up19.6% (YoY)
-EBITDA margins at 17.27% versus 16.01% (YoY)
Sesa Goa : Q4 Numbers ( Note : Q4 not comparable due to Dempo acquisition)
-Sales at Rs 2403.54 crore versus Rs 1429 crore (Up 68% YoY) (In-line)
-PAT at Rs 1215.1 crore versus Rs 548.36 crore (up 122% YoY) (Higher than estimate)
-EBITDA margins of 62% versus 52% (YoY)
GAIL update
-PNGRB announces provisional tarriffs for GAIL's pipeline
-Provisional tarriff shows a negligilbe decline to current tarriff
-Provisional tarriff for existing HVJ - GREP - DVPL pipeline at Rs 25.46/mmbtu -Alert: Current average tarriff was Rs 25.59/mmbtu
-Tariff for new DVPL/GREP network fixed at Rs 53.65/mmbtu
-Alert: Market was expecting tarriff to be Rs 48-49/mmbtu
-Alert: Regulator’s new proposed tariff implies 40% jump in blended rate
-Hindustan Copper divestment may be mulled by cabinet in 3-4 weeks
-Inter-ministerial discussions on for Hindustan Copper divestment
-20% share sale proposed, 10% fresh equity & 10% offer for sale

-Expecting SEBI nod for Jaypee Infratech IPO by April 22
-Want to bring out IPO a few days after SEBI nod
-No change in fund raising target; will raise around Rs 2500 crore
-Exposure to Uttar Pradesh should not worry investors
-To launch 2 new townships along Yamuna Expressway by October: Srcs
-Will consider airport development at an opportune time
Modern Steel : Q4
-Sales at Rs 75.21 crore versus Rs 60.62 crore (YoY)
-PAT at Rs 0.39 crore versus a loss of Rs 2.71 crore (YoY)
Other stocks and sectors that are in news today:
-Unitech board meet today to consider recommendation of restructuring of committee (For selling non-core business)
-LG appoints Redington its distributor for Mobile phones in Tamil Nadu (Company expect about Rs 150-180 crore in FY'11)
-Shrenuj : Board meet today to consider amalgamation with Shrenuj Diajewels Ltd. and Shrenuj Gems & Jewellery Ltd
-Re-Listing of Kirloskar Brothers today
-Tata Steel may not sell Teesside
-Videocon inks pact with Philips NV to make and sell Philips brand TV in India
-Jay Shree Tea close to buying tea assets in Africa.
-OMCs to be adequately compensated says Petroleum secretary.
-Acrelor Mittal eyes stake in Ferro Alloys Corp.(CMP Rs 23.5)
-Heavy Eng Cop eyes HMT’s sub Hindustan Machine Tools.
Market cues:
RBI credit policy today
TCS Q4 mixed: Misses revenue estimates
TCS Q4: Beats net profit est on margins, forex gains
FIIs were net buyers of USD 81.75 million in equities on April 17
NSE F&O Open Int was up by Rs 1,279 crore at Rs 1.24 lakh crore.
As per provisional data of April 18, FIIs were net sellers of Rs 756 crore, while DIIs were net buyers of Rs 570 crore in cash markets. FIIs were net sellers of Rs 148 crore in F&O.
F&O cues:
Futures Open Int up Rs 67 crore
Options Open Int up Rs 1212 crore
Nifty Fut add 2 lakh shares in total Open Int
Nifty Apr Futures at 4-point premium
Nifty Open Int PCR at 1.21 versus 1.24
Nifty Puts add 5.7 lakh shares in Open Int
Nifty Calls add 16 lakh shares in Open Int
Nifty 5100 Put adds 8.6 lakh shares in Open Int
Nifty 5300 Put sheds 19 lakh shares in Open Int
Nifty 5200 Call adds 18 lakh shares in Open Int
Nifty 5500 Call sheds 9.6 lakh shares in Open Int
Stock Futures add 2.7 crore shares in Open Int
FIIs in F&O on April 18
Net sell Rs 829 cr in Nifty futures, Open Int up 7,559 contracts
Net buy Rs 815 cr in Nifty options, Open Int up 45,849 contracts

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