26 April 2010 Intraday Calls

26 April 2010 Morning Market Updates  08:50
Market will open in positive side as the Asian markets are trading positively.
Nifty support at 5270-5280 and resistance is at 5345 and 5400.

Recommendations :

Hold Long ICICIBank Ref.22/04 Trail sl 966



Buy LT sl 1609 Target 1630


Buy M&M sl 519 Target 526


Hold Long Tatapower Ref.23/04 Trail sl 1354


Buy Canbk Above 411 sl 406 Target 416 / 419


Buy Orientbank sl 330 Target 355 Positional



Hold Short Sunpharma Ref.23/04


Sell Tatasteel Below 642 sl 650 Target 630

Stocks in News :

Results Today: Godrej consumer, Sterlite, Maruti Suzuki, Bosch, Cholamandalam DBS Finances, IL&FS Investmart, Astrazeneca, PSL Ltd, Religare, Rain Commodities, Tata Metaliks, Kirloskar Bro, Cambridge Solutions, Indoco Remedies



Board Meets
-Trent : Fund Raising via rights & equity issuance
-Sirpur Paper Mills : Preferential Issue


IPOs
-Talwalkar's IPO closes - Overall Subscribed 28 times (x); HNI 51.5x, QIB 35.4x, Retail 8.4x
-Tarapur Transformers IPO opens today, price band Rs 65-75/sh (Bilpower company's subsidiary)

Other stocks and sectors that are in news today:
-DLF: Buys 245 million convertible preference shares of DLF assets from PE firm SC Asia Pte Ltd for Rs 3085 crore (USD 696 million)
-SAIL receives an approval from Ministry of Steel for 20% FPO ( 10% in 2 tranches) (10% fresh equity and 10% offer for sale)
-Pantaloon to demerge mall management & food services businesses into subsidiaries (To issue 1 shares for every 20 held)
-Adani Enterprises approves scheme of amalgamation of 7 group companies with itself
-Binani Cements : Approves buy-back @ Rs.90/shr of 7.14% stake ( CMP : 84.5/share)
-US district court rules Sun Pharma will have to stop selling its generic version of Eloxatin from 30th June 2010
-Oil India granted Navratna Status by Ministry of Petroleum & Natural Gas
-Bajaj Hindusthan signs MOU with UP govt for 5 Coal based plant of total 450MW and Through a Consortium signed another MOU for 1980MW with UP govt
-EID Parry acquires majority stale in GMR Ind, makes Open Offer For GMR Ind At Rs 110.69/sh ((CMP: 112, down 9%, market had the whiff of the price))
-India Cements in focus, Chennai Superkings win IPL 3
-Corporation Bank looking for 2:1 rights issue – ET
-Govt may relax FDI in retail, 51% investment in multi-brand retail likely – BS
-Govt plans tougher FDI norms in housing and township sector – BS
-Disinvestment limited to 8 firms this year, says Finance Secy – BS
-IFC to invest USD 60 million in Apollo Tyre’s Greenfield project – FE
RIL Q4 (cr - crore, vs - versus)
-Sales at Rs 57570 cr vs Rs 26082 cr
-Net profit at Rs 4710 cr vs Rs 3627 cr
HDFC Bank Q4
-NII up 26.96% from Rs 1852 cr to Rs 2351.4 cr
-Net profit up 32.6% from Rs 630.88 cr to Rs 836.6 cr
-NIM at 4.4% vs 4.2%
ICICI Bank Q4
-NII at Rs 2035 cr vs Rs 2138 cr
-Net profit at Rs 1005 cr vs Rs 743.7cr
-NIM at 2.6% vs 2.6%
Pantaloon Q3 (standalone)

-Sales at Rs 2057.6 cr vs Rs 1642.1 cr (up 25% YoY)
-Adjusted PAT at Rs 55.9 cr vs Rs 34.4cr (up 62% YoY)
Areva T&D: CYQ1 numbers
-Sales at Rs 776cr vs Rs 845cr (down 8.1% YoY)
-PAT at Rs 3.5 cr vs Rs 51.4 cr (down 93% YoY)
(Note : expectation was close to Rs 60 cr of PAT)
India Infoline (Consolidated)
-Net Sales up 84.4% at Rs 309.4 Cr vs Rs 167.9 Cr
-PAT up 101.5% at Rs 52.34 Cr vs Rs 25.98 Cr
-Operating Margin at 29.4% vs 18.6%
Indian Bank Q4
-NII at Rs 1226 cr vs Rs 959.6 cr (up 27% YoY)
-PAT at Rs 409 cr vs Rs 394 cr (up 4% YoY)
Binani Cements Q4
-Sales at Rs 481.8cr vs Rs 497.4cr (Down 3.1% YoY)
-PAT at Rs 16.9cr vs Rs 20.07 (Down 15% YoY)
3i Infotech , Q4 QoQ
-Revenues up 5.4% to Rs 628.29 cr vs Rs 596.21 cr
-Net profit after tax at Rs 95.24 cr vs Rs 50.53 cr
3i Infotech: FY11 Outlook
-Revenue growth of 11% to 14%
-Net margin at 10% to 10.5%
Persistent Systems(YoY)
-Net Sales up 15.2% at Rs 171.7 Cr vs Rs 149.1 Cr
-Net Profit up 182% at Rs 39.67 Cr vs Rs 14.07 Cr
-Operating Profit at 17.17% vs 6.92%
-Other Income at Rs 12.19 Cr vs Rs 3.13 Cr
Merck Q1
-Sales at Rs 104 cr vs Rs 98.8 cr (up 5% YoY)
-PAT at Rs 15.35 cr vs Rs 8.6cr (up 80% YoY)
GMR Industries
-Sales at Rs 101.6 cr vs Rs 125.9cr (down 18% YoY)
-Loss of Rs 42.45 cr vs Rs 15.97cr
Mahindra Life Space Q4
-Sales at Rs 101cr vs Rs 24cr ( up 225% YoY)
-PAT at Rs 24cr vs Rs 14cr ( up 68% YoY)
MMTC Q4
-Sales at Rs 17271.1cr vs Rs 4874cr ( up 254% YOY)
-PAT at Rs 98.9cr vs Rs 39.97cr ( up 147% YoY)
Andhra Sugars
Sales at Rs 126.6 cr vs Rs 134.8cr (down 6% YoY)
-PAT at Rs 12.6cr vs Rs 9.04cr (up 30% YoY)
P&G Q3
-Sales at Rs 205cr vs Rs 178cr (up 15% YoY)
-PAT at Rs 44cr vs Rs 35cr (up 25% YoY)
Venus Remedies
-Net Sales up 27.4% at Rs 80.78 Cr vs R s63.41 Cr
-Net Profit up 94.6% at Rs 12.75 Cr vs Rs 9.73 Cr
-EBITDA Margins at 23.5% vs 23.6%
F&O Cues :
F&O cues:

Futures Open Int was up by Rs 1508 crore, Options Open Int was up by Rs 3352 crore
Nifty futures shed 2 lakh shares in total Open Int
Nifty Apr futures at 1-point premium
Nifty Open Int PCR at 1.35 versus 1.33
Nifty Puts add 38 lakh shares in Open Int
Nifty Calls add 21 lakh shares in Open Int
Nifty 5200 Put adds 9 lakh shares in Open Int
Nifty 5300 Put adds 6.6 lakh shares in Open Int
Nifty 5400 Call adds 4.8 lakh shares in Open Int
Stock futures add 3.6 crore shares in Open Int
FIIs in F&O on April 23
Net buy Rs 66 crore in Nifty Futures
Net sell Rs 45 crore in Nifty Options
Net buy Rs 345 crore in Stock Futures


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