31st August 2010 Recommendations

31st August 2010 Morning Market Updates 08:50
FYI
Today's Recommendations:
Note : Follow Buy recommendations in Positive Market Bias and vice versa.

Buy	Abb			sl	773	T	785
Buy	Bhel			sl	2433	T	2473
Buy	Hindalco	Abv	170	sl	167	T	175
Buy	ICICIBank	Abv	980	sl	974	T	992
Buy	JPAssociat	Abv	112	sl	110	T	119
Buy	Maruti	Abv	1242	sl	1236	T	1255
Buy	Rcom	Abv	166	sl	162	T	172
Sell	Axisbank	Bel	1312	sl	1323	T	1300
Sell	ITC			sl	161	T	156
Sell	LT			sl	1827	T	1797
Sell	SBIN	Bel	2791	sl	2805	T	2766
Sell	Siemens			sl	705	T	690
Sell	Sunpharma			sl	1763	T	1730
Sell	Bankbaroda			sl	807	T	790
Sell	Bharatforg			sl	352	T	343
Sell	Apil	Bel	715	sl	724	T	704

Stocks in News :
RIL-EIH
-RIL buys 14.12% stake in EIH for Rs 1,021 crore
Alert: deal price works out to be Rs 184/share (CMP Rs 151)
-RIL buys stake from EIH promoters
-RIL buys stake in EIH via 100% subsidiary
RIL says EIH stake buy not to lead to change in company's management
Sources say Analjit Singh has been in talks with PRS Oberoi to sell back stake.
-RIL wanted to invest in the hospitality industry
-Welcome RIL investment in company
ONGC
-ONGC seeks details of Vedanta's Cairn India deal
-Details sought to protect company's pre-emptive rights
Big positive for airline companies: Bankers say
-RBI gives clearances to banks for restructuring aviation loans
-Aviation loans to be treated as regular loans post restructuring
-RBI has allowed restucturing of unsecured aviation loans
-Banks to make same amount of provision as for regular restructured loans
-Claim provisioning to be around 5-7% of Kingfisher's debt
-Total debt of Kingfisher around Rs 7000 crore
-Promoters can make upfront payment as loans, instead of equity
-Under restructuring guidelines, promoters have to bring 15% upfront equity
Other stocks and sectors that are in news today:
-Kingfisher board meets today on GDR Issue
-In T2T from September 3: Elder Healthcare, House of Pearls, Jagson Airways, Saregama India, Galaxy Entertainment
-Pharmac to fund Dr Reddy's Quetiapine brand
-Kwality Dairy board approves fund raising up to Rs 1000 crore via rights, QIP, GDR, FCCB (Market Cap: Rs.1351 crore)
-Kalindee Rail : Bags order worth Rs 180 crore from Vedanta Group
-Infosys plans extreme offshore model to tide over visa crisis – BS
-M&M ends contract with US distributor to sell pick up trucks – BS
-Gitanjali plans to acquire Italian Jewellery house – BS
-JK Cement top brass held talks with Holcim for possible JV, acquisitions– DNA
-HPCL to buy out 50% in Prize Petro JV and merge with itself – DNA
-Cement price cut by Rs 2-4/kg in western India 
Ex-Dates -GHCL : Ex-Dividend @ Rs 2/share
-Radico Khaitan : Ex-Dividend @ Rs.0.6/share
-Harrisons Maly : Ex-Scheme of Arrangement ((Demerger of Investment Undertaking of Harrisons Malayalam to Sentinel Tea and Exports, Ratio of Allotment in ratio of 1:1)

F&O Cues : 
F&O cues:
Futures Open Int up Rs 921 crore

Options Open Int up Rs 4712 crore
Nifty Futures add 3 lakh shares in Open Int
Nifty Futures at 11-point premium
Nifty Open Int PCR at 1.43 versus 1.45
Nifty Puts add 40 lakh shares in Open Int
Nifty Calls add 37 lakh shares in Open Int
Nifty 5400 Put adds 6 lakh shares in Open Int
Nifty 5100 Put adds 6 lakh shares in Open Int
Nifty 5300 Put adds 5 lakh shares in Open Int
Nifty 5700 Call adds 8.7 lakh shares in Open Int
Nifty 5600 Call adds 8 lakh shares in Open Int
Stock Futures add 2.3 crore shares in Open Int
FIIs in F&O on August 30
Net buy Rs 420 crore in Nifty Futures
Net buy Rs 900 crore in Nifty Options
Net buy Rs 307 crore in Stock Futures 

US Market :
U.S. stocks drop with financial sector reeling as further signs point to slower economic growth.The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed fell 140.92 points, or 1.4%, to end at 10,009.73, near session lows.Nasdaq closed down with 33.66 points at 2119.97.