Stocks that are in news today:
Oil Secretary
Planning for IOC disinvestment first; ONGC later
See diesel prices rising by Rs 2/Litre upon deregulation
Govt has decided deregulation of diesel will happen
Cairn informed oil ministry a month ago about Vedanta deal
Cairn has 10 production sharing agreements with GoI, other players
PSCs presence means approval for deal to go through
Oil Ministry asked Cairn to seek approval to push Vedanta deal
Cairn yet to seek these approvals
SKF to CNBC-TV18
Making fresh investments of Rs 120 crore in India
Looking for acquisitions in bearings, lubricants, seals areas
Actively talking to a couple of shortlisted companies
Acqusition size could to be over USD 150 million
Kale Consultants
Accelya acquires 35.61% at Rs 172/share in Kale Consultants ((CMP: 143))
Kale promoters exit completely post transactions
Accelya to make open offer for 20%
RIL Gas Supply Deal
To sign gas supply contract with Essar Oil
Gas supply to Essar from company's eastern offshore KG D6 field
Gas to be supplied to Essar's Vadinary refinery in Gujarat
Gujarat NRE
Approves issuance of FCCB worth USD 100 million
Approves allotment of 6 lakh Convertible warrants to Promoters on Preferential basis
BASF India
Approves Scheme of Amalgamation of 3 companies with BASF India Ltd
Alert : 3 comanies are BASF Coatings Pvt. Ltd., BASF Construction Chemicals Pvt. Ltd. and BASF Polyurethanes India Ltd.
Ex-dates
Jindal Steel: Ex-Dividend @ Rs 1.25/share
Kotak Mahindra Bank: Stock Spilt 2:1 ((FV from Rs.10 to 5))
Reliance Capital: Ex-dividend @ Rs 6.5/share
Reliance Communications: Ex-Dividend @ Rs 0.85/share
India's industrial output in July rose at a faster-than-expected 13.8 percent from a year earlier, sharply higher than the previous month's 7.1 percent,
government data showed on Friday.
India's wholesale price index in August probably rose 9.6 percent from a year earlier, easing from a rise of 9.97 percent in July.
India's vital monsoon rains were 26 percent above normal in the week to Sept. 8, compared with 16 percent above normal in the previous week, the
weather office said on Thursday.
Taking cues from global markets, the Sensex and the Nifty moved from strength to strength during this holiday-shortened week. The Bombay Stock Exchange benchmark index, Sensex, touched a high of 18,823.17 and finally settled at 18,800, a gain of 3.2 per cent (578 points).
Among the index stocks, Tata Steel and ACC zoomed around 10 per cent each to Rs 593 and Rs 980, respectively. SBI, Hindalco, Jaiprakash Associates, ICICI Bank, Jindal Steel, Sterlite, Infosys, TCS and Mahindra & Mahindra were the other major gainers. Reliance Infrastructure, however, slipped 2 per cent and ITC was down a per cent.
The Sensex is extremely close to the 19,000-mark. The index may face some resistance around the 19,000 and 19,550-levels, which are of significant resistance as per the yearly charts. The upward move will remain intact as long as the index holds the 18,500 and 18,375 support.
The National Stock Exchange’s Nifty moved in a band of 168 points. It touched a high of 5,647 and ended with a gain of 161 points at 5,640.
The index has closed at the higher end of the trading band, and may continue to trade higher along the higher end of the trading band. However, given the strong gains, some consolidation can’t be ruled out.
Also, needs to watch out for the Reserve Bank of India policy meet on September 16, which could turn out to be a major trend decider for rest of the month. Technically, the Nifty will remain bullish as long as the index sustains above 5,490. Upside targets for the Nifty are at 5,672 Many analysts also talk about the healthy Technical correction.
Recommendations :
Follow Buy Calls in Postive Market Bias and v.v.
| Buy | Aban | sl | 815 | T | 840 | ||
| Buy | Herohonda | sl | 1724 | T | 1747 | ||
| Buy | IDFC | Abv | 190 | sl | 186 | T | 196 |
| Buy | M&M | sl | 646 | T | 667 | ||
| Buy | Andhrabank | sl | 157 | T | 163 | ||
| Buy | Bankbaroda | Abv | 850 | sl | 842 | T | 868 |
| Buy | Colpal | Abv | 831 | sl | 824 | T | 841 |
| Buy | Ibrealest | Abv | 182 | sl | 179 | T | 187 |
| Buy | Sesagoa | Abv | 317 | sl | 312 | T | 326 |
| Sell | Axisbank | Bel | 1366 | sl | 1380 | T | 1336 |
| Sell | Cipla | sl | 309 | T | 301 | ||
| Sell | ITC | sl | 165 | T | 159 | ||
| Sell | Relinfra | sl | 1023 | T | 1000 | ||
| Sell | Tatamotors | Bel | 1012 | sl | 1025 | T | 998 |
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