24 May 2010 Morning Market Updates

24 May 2010 Morning Market Updates  08:40
Market today will open with a gap up as Asian markets reacting positively.High beta stocks will be give smart bounce back.
The F&O expiry in this week will keep the market volatile. Improvement in the global market view will remain the key.Any positive market indicator may drive the market to start Northward journey to significant short covering.
Recommendations :
Buy M&M Above 541 sl 533 T 553

Buy Dishtv sl 36.9 T 38.75
Buy IFCI sl 51 T 53.25
Results Today: Sun Pharma, Tata Power, Aegis Logistics, Bombay Dyeing, Canara Bank, GMR Infra, Hotel Leela, Kalyani Steel, Lakshmi Machine, Madras Cements, Opto Circuits, Shriram EPC, Tata Chemicals, TV Today

RIL-ADAG deal
Mukesh & Anil Ambani agree to cancel all non-compete agreements
RIL and ADAG hopeful of co-operation
New, Simple non-compete agreement signed by RIL, ADAG
New Agmt Limited only to gas-based power generation
RIL, RNRL to quickly negotiate gas supply agreement
Negotiations likely to conclude very soon
Terms eliminate room for any further dispute
Mukesh, Anil Ambani today approve & sign new agmt
New agreement approved by boards of both cos
RIL-RNRL exclusive: sources say:

Neither sides plan to get into each other's territory
Non-compete done away with to get 'irritants' out of the way
Gas agreement discussion on
Gas agreement could close in 'matter of days'
All aspects in 'private domain' settled
Abbott Concall
India a significant & critical market
India is world's fastest growing market
Recent moves include licensing agreement with Zydus Cadila
Recent moves include acquisition of Piramal Healthcare Soln Biz
Recent aquisitions to Capitalise on EMs' Growth
EMs expected to grow 3x developed markets
Emerging markets represent 20% of co's biz
Piramal will provide required infra
Piramal has the largest sales force in the country
Abbott-Piramal to have more than 7,000-strong sales force
Branded generics fastest growing segment
Other stocks and sectors that are in news today:
Godrej buys Hair dye co in LatAM
Standard Chartered: IDR price band fixed at Rs 100-115/IDR ((Issue of 24 cr IDRs opens on May 25))
Dr Reddy's launches Tacrolimus Capsules, the generic version of Prograf
Fortis Healthcare: infuses USD 100 Million via conversion of warrants
Redington (India): Approves stock split in ratio of 5:1
Bharat Forge: Received a contract for EPC for an Power Project for a 3 X 150 MW Power Project
ICICI Bank, BoR boards approve merger, swap ratio of 1:4.72
Caraco FY10:

Net loss of USD 8.7 million versus profit of USD 20.5 million (YoY)
Revenue at USD 233.7 million versus USD 337.2 million (YoY)
Operating loss at USD 13.3 million versus operating profit of USD 28.8 million
Shriram City Union Finance Q4 (cr - crore, vs - versus)
Income from operation at Rs 277cr vs Rs 258.2cr (YoY)
PAT at Rs 454 cr vs Rs 327 cr (YoY)
NMDC Q4

Sales at Rs 1983 cr vs Rs 1936 cr (YoY)
PAT at Rs 1065 cr vs Rs 1021 cr (YoY)
GE Shipping Q4 (Cons.)
Sales at Rs 779 cr vs Rs 746 cr (YoY)
PAT at Rs 155.6 cr vs Rs 125.5 cr (YoY)
Bharat Forge Q4FY10 YoY
Revenues up 92% at Rs 562.3 cr vs Rs 292.6 cr
OPM at 25% vs 15%
PAT at Rs 61.2 cr vs Rs 61 cr
Profit before exceptional item at Rs 82 cr vs loss of Rs 2.4 cr
Exceptional item includes gain of Rs 98 cr in Q4FY09
Redington India FY10
Sales at Rs 13757 cr vs Rs 12668 cr (YoY)
PAT at Rs 185 cr vs Rs 160 cr
Varun Shipping FY10
Sales at Rs 896.7 cr vs Rs 942 cr (YoY)
PAT at Rs 12.5 cr vs Rs 122 cr (YoY)
Tax expenses at Rs 42 cr vs Rs 3.5 cr (YoY)
Gammon Infra Q4 (Cons.)
Sales at Rs 77.1 cr vs Rs 54.27 cr (up 42% YOY)
PAT at Rs 8.3 cr vs Rs 7.3 cr (up 14% YoY)
Nifty May Futures add 11 lakh shares in Open Int
Nifty May Futures at 3-point discount
Nifty June Futures add 13 lakh shares in Open Int
Nifty June Futures at 6-point discount
Nifty Open Int PCR at 1.02 versus 1.03
Nifty Puts add 17 lakh shares in Open Int
Nifty Calls add 21 lakh shares in Open Int
Nifty May 4800 Put adds 11 lakh shares in Open Int
Nifty May 4900 Put sheds 11 lakh shares in Open Int
Nifty May 4800 Call adds 10 lakh shares in Open Int
Stock Futures add 2.7 crore shares in Open Int
FIIs in F&O on May 21
Net sell Rs 552 crore in Nifty futures
Net buy Rs 300 crore in Nifty options
Net buy Rs 468 crore in Stock futures