16 August 2010 Intraday Calls

16 August 2010 Morning Market Updates :

Market will continue Friday's rally and will open positive but for holding the strength, expecting support from Global markets.Immediate Nifty resistance is at 5470 and support is at 5430.

Today's Recommendations :

FYI:
Follow Buy calls in Pisitive markett bias & v.v.
Buy
Axisbank Abv 1335    sl 1324 T 1348
Gai Abv 456 sl 450 T 465
ITC sl 155 T 159
LT Abv 1820 sl 1810 T 1848
Bajaj-auto Abv 2670 s 2657 T 2714
Hindpetro     Abv 496 sl 489 T 520
IFCI Abv 61.25 sl 60.5 T 62.5
Indhotel sl 101 T 106
Sell:                       
Aban Bel 815 sl 824 T 798
Stocks in News :

Cairn India - CNBC exclusive -Cairn India writes to DGH on oil & gas discovery in KG Basin
-Cairn India may have made major oil & gas discovery in onshore KG Block
-Cairn India informs DGH that gas reserves could be upwards of 10 Tcf
-KG onshore block will require further drilling to substantiate resource

Vedanta-Cairn deal - Sources
-Vedanta-Cairn Energy Plc conclude negotiations
-Vedanta to acquire 51% stake in Cairn India
-Cairn Plc to sell part stake in Cairn India
-Petronas unlikely to sell Cairn India stake to Vedanta

ONGC concerned about Vedanta's lack of oil & gas experience-May take up issue of Vedanta's inexperience with oil ministry: Sources

RBI introduced minimum capital adequacy norms and limits by holding companies
-The move will crimp borrowings by several large companies and force them to revamp their ownership structures
-Stocks to watch: McDowell Holdings, Network 18, Jindal South West Holding, UB holding, Bajaj Holding

-Kamath front-runner to succeed Murthy as Infosys chairman

-Suzlon may sell around 25% stake RePower stake to PE Players for USD 500 million.

-Mahanagar Gas plans IPO.(It’s a JV between Gail and British Gas)
-Eli Lilly loses patent case in US over its hyperactivity disorder drug, Sun Pharma and Aurobindo to benefit.
-Raymond to revisit package for Thane mill workers, civic authority, union and management to meet tomorrow to discuss new package for employees.
-Pipavav Shipyard: To Issue of 2.52 crore warrants to promoters for investment of Rs 250 crore, Signed MOU with Transocean Offshore for repairs of its off-shore drilling Units 
-NMDC acquired 1948 acres of land for setting up 3.MTPA steel plant
-Power Firms plans 5-7% tariff hike.
-Tata Steel gets approval to explore Ankua mine.
-Tata Power Ex-Dividend @ Rs 12/share
-Wockhardt increased Authorized capital from Rs 925 crore to Rs 1125 crore (Issued 40 crore prefrence shares of Rs.5 each)
-Ramsarup Inds: Issuance of 35 lakh warrants to Promoter & Stratergic Investor (not more than 10% of company) - also Issuance of FCCB to extend of Rs 1150 crore (Market Cap Rs 300 crore)
-Shilpa Medicare board meet on 16 Aug to consider the issue of equity on preferential basis
-House of Pearl Fashions: Board has approved for Scheme of Arrangement for merger of Pearl Global with House of Pearl Fashions 
-Powergrid to lease out towers to telecos.
-Gangotri Iron & Steel: Stock Split in ratio of 2:1 

Suzlon  Q1 consolidated (cr - crore, vs - versus)-Sales at Rs 2404 cr vs Rs 4175cr (Down 42% YoY)
-Loss at Rs 912 cr vs Rs 452 cr (YoY)

Reliance Communications Q1-Sales at Rs 6977 cr vs Rs 7082 cr (down 1.5% QoQ)
-PAT at Rs 250 cr vs Rs 1219 cr (down 79% QoQ)

Unitech Q1-Revenues: Rs 828 cr vs Rs 1132.9 cr (QoQ) (expectation of Rs 810 cr)
-Net Profit: Rs 180 cr vs Rs 163 cr (QoQ) (expectation of Rs 170 cr)

Wockhardt Q1-Net Loss at Rs 116 cr vs loss of Rs 190 cr
-Net sales at Rs 922 cr vs Rs 954 cr

BEML Q1-Net profit at Rs 14.4 cr vs Rs 5.3 cr
-Net sales at Rs 527 cr vs Rs 465 cr

Cipla Q1-Net profit at Rs 257.4 cr vs Rs 241.7 cr (YoY)
-Net sales at Rs 1,427.4 cr vs Rs 1,325.3 cr (YoY)

Mcnally Bharat Engineering Q1-Sales at Rs 1458 cr vs Rs 967 cr (YoY)
-PAT at Rs 34.6 cr vs Rs 34 cr (YoY)

Nitin Fire Protection Q1-Sales at Rs 89.7 cr vs Rs 53.6 cr ((YoY))
-PAT at Rs 9.63 cr vs Rs 8.6 cr ((YoY))

Sayaji Hotel Q1-Sales at Rs 46.6 cr vs Rs 34 cr ((YoY))
-PAT at Rs 0.6 cr vs loss of Rs 1.13 cr ((YoY))

HMT Q1-Sales at Rs 42 cr vs Rs 39.8 cr ((YoY))
-Loss at Rs 17.5 cr vs Rs 17.7 cr ((YoY))

Akruti City Q1-Sales at Rs 178 cr vs Rs 40.9 cr ((YoY))
-PAT at Rs.42cr vs Rs.10.0cr ((YoY))

Allcargo Log Q1-Sales at Rs.639.4cr vs Rs.523cr ((YoY))
-PAT at Rs.37.8cr vs Rs.46.6cr ((YoY))

Lanco Infratech Q1-Sales at Rs.2125cr vs Rs.2194.9cr ((YoY))
-PAT at Rs.194cr vs Rs.115cr ((YoY))

JK Tyre Q1-Sales at Rs.1167cr vs Rs.900cr ((YoY))
-PAT at Rs.19.5cr vs Rs.40.7cr ((YoY))

Vishal Retail Q1-Sales at Rs.334cr vs Rs.265cr ((YoY))
-Loss at Rs.29.3cr vs Rs.63.24cr ((YoY))   

Simplex Infra Q1-Sales at Rs.1174cr vs Rs.1108cr ((YoY))
-PAT at Rs.36.2cr vs Rs.25.6cr ((YoY))

Shree Cement Q1-Sales at Rs.944.5cr vs Rs.922.4cr ((YoY))
-PAT at Rs.105.9cr vs Rs.291.1cr ((YoY))

Bartronics Q1-Sales at Rs.162.7cr vs Rs.162cr ((YoY))
-PAT at Rs.22.5cr vs Rs.23.8cr ((YoY)) 

ABG Shipyard Q1-Sales at Rs.449cr vs Rs.393cr ((YoY))
-PAT at Rs.38cr vs Rs.47cr ((YoY))

Pipavav Q1 ((Standalone))-Sales at Rs.176cr vs Rs.141.17cr ((YoY))
-Loss of Rs.9.78cr vs PAT of Rs.1.6cr ((YoY))

Bilcare Q1 ((Consolidated))-Sales at Rs.308cr vs Rs.238cr ((YoY))
-PAT at Rs.30.6cr vs Rs.22.8cr ((YoY))

NALCO Q1-Sales at Rs.1397.8cr vs Rs.1036.5cr ((YoY))
-PAT at Rs.284cr vs Rs.126cr ((YoY))

Koutons Retail Q1-Sales at Rs.161.5cr vs Rs.201cr ((YoY))

-PAT at Rs.5.5cr vs Rs.10.9cr ((YoY))  

F&O cues:

Futures Open Int was up by Rs 1213 crore

Options Open Int was up by Rs 2600 crore

Nifty Fut add 1.17 lakh shares in Open Int in Aug

Nifty Fut add 3.14 lakh shares in Open Int in Sep

Nifty Futures unchanged at 4 pts prem

Nifty Open Int PCR at 1.49 versus 1.45

Nifty Puts add 31 lakh shares in Open Int

Nifty Calls add 4 lakh shares in Open Int

Nifty Aug 5500 Put adds 10 lakh shares in Open Int

Nifty Aug 5400 Put adds 7.9 lakh shares in Open Int

Nifty Sep 5400 Put adds 4.4 lakh shares in Open Int

Nifty Aug 5500 Call adds 4 lakh shares in Open Int

Nifty Aug 5600 Call sheds 8.4 lk shrs in Open Int

Stock Futures add 2.4 cr shares in Open Int

FIIs in F&O on August 13

Net buy Rs 486 crore in Nifty Futures

Net buy Rs 833 crore in Nifty Options

Net sell Rs 76 crore in Stock Futures

US Market Updates :

US stocks closed out their worst week in six with a whimper on Friday, slumping toward the close as economic data gave little reason to reverse a string of sell-offs.

The Dow Jones industrial average dropped 16.80 points, or 0.16%, to 10,303.15. The Standard & Poor's 500 Index dropped 4.36 points, or 0.40%, to 1,079.25. The Nasdaq Composite Index dropped 16.79 points, or 0.77%, to 2,173.48.

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the development or implementation of an investment strategy. It should not be construed as an investment advice to any party. All opinions and estimates included here constitute our view as of this date and are subject to change without notice. The information contained in this report other than the recommendations has been obtained from sources that are considered to be reliable. However, (IFCL) has not independently verified the accuracy or completeness of the same. Neither (IFCL) nor any of its affiliates, business associates, its directors or its employees accept any responsibility of whatsoever nature for the information, statements and opinion given, made available or expressed herein or for any omission therein. Recipients of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well as the market related investments are subject to market risk and volatility. The suitability or otherwise of any investments will depend upon the recipient's particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor. Either (IFCL) and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives may have position(s), make market, act as principal or engage in transactions of securities of companies referred to in this report and they may have used the research material prior and / or after to publication.
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