12 Oct 2010 Daily Recommendations

12 Oct 2010 Morning Market Updates  08:59

Daily Recommendations :

Buy Gail sl 489 T 504



Buy Herohonda sl 1868 T 1890


Buy Maruti Abv 1530 sl 1518 T 1575 P


Buy Ster Abv 182 sl 177 T 192


Buy Concor Abv 1340 sl 1311 closing T 1380 P


Buy Cumminsind Abv 746 sl 736 T 768




Sell ACC Bel 1011 sl 1017 T 998


Sell Axisbank Bel 1540 sl 1550 T 1525


Sell DLF Bel 375 sl 380 T 368


Sell Gail Bel 481 sl 485 T 477/473


Sell ICICIBank Bel 1126 sl 1134 T 1110


Sell Infosystch Bel 3057 sl 3073 T 3025


Sell Jindalstel Bel 717 sl 726 T 700


Sell M&M Bel 708 sl 715 T 692


Sell Tatapower Bel 1414 sl 1424 T 1403/1390


Sell TCS Bel 940 sl 948 T 929


Sell Crompgreav Bel 318 sl 321 T 312


Sell HDIL Bel 269 sl 274 T 259


Sell Unionbank Bel 384 sl 389 T 380


Sell Videoind Bel 275 sl 280 T 265


Stocks in News :
 
Results today: Castrol, Exide, Kajaria Ceramics, Magma fincorp, Goa carbon, IL&FS Investment Managers, Tata Metaliks, Tinplate.
Suzlon:



-Board allots 3.19 crore shares on preferential basis to IDFC PE for acquisition of 17.1% stake of SE forge ltd


-Seeks shareholder nod for fund raising upto Rs 5000 crore and Increase borrowing limit from 7000 crore to 10000 crore


Shree Renuka :


-Completes debt Restructuring agreements with major lenders of its Brazilian subsidiary (formerly known as Equipav)


-The total debt restructured amounts to Brazilian Real 1.30 billion (INR 3465 crore).




REC Director ( Finance ) says:


-Looking to raise USD 500 million in November - January


-Will raise funds from Europe, Singapore


-No plans to raise funds from US market


-Met over 20 FIIs recently in US


-Will issue infra bonds in December - January


-Infra Bonds to be Rs 1000 - 1500 crore


REC CMD says


-Awaiting Power Minister nod on applying for banking license


-Looking at applying for private banking license


-Power PSUs together may look at 50% holding in private bank


-PFC, REC likely to join hands for banking foray


-Each parther to have 12 - 20% in private bank


DRL -


-Eli Lilly files patent infringement suit on DRL (Dr Reddys Labs);


-Suit filed in southern district court, Indiana, US;


-Suit related to product GEMZAR;


-Lilly is an Indiana corporation;


-Suit related to patent No.5,464,826;


-Lilly wants court to prohibit DRL from making the drug;


-Lilly wants court to prohibit DRL from marketing drug in US;


-DRL oficials unavailable for comment.
 
Tata Motors :


-Used JLR inputs to make cross-over vehicle Aria
-Cross-over vehicles can create segment in itself
-To start exporting Aria next year
-Initially eyeing Italy, Spain, Holland to export Aria
-Cross-over vehicle Aria to be made at Pune plant
-Not developing vehicles jointly with JLR as of now
-US one of the 'last markets' company would enter

Coal Minister :
-Coal Prices to rise with norm to share profit with landowners
-Cabinet to consider new mining bill within a month
-Tata DOCOMO may launch 3G services around Diwali across 9 circles

Tata DOCOMO set to be first private company to offer commercial 3G services


Listing today: Tecpro Systems and Cantabil Retail


In F&O ban: Core projects, EKC, Essar oil, Ispat, Jindal South West Holding, Orchid Chem, Punj Lloyd, Reliance Media


-Kalpataru Power open offer for JMC Projects at Rs 207/share (cmp 209)

-Future group eyes 40% stake in ACK media, which owns iconic brands like Amar Chitra Jatha, Tinkle and Karadi Tales – ET
-JSW group leads race to acquire Canada’s CIC, deal valued at USD 450-500 million – ET
-Strike in 2 units at MRF, production at halt – BS
-IVRCL Infra may sell Hind Dorr stake for Rs 600 crore: NW18
-Asian Hotels participate in a joint venture in an overseas hospitality consulting services company; to invest Rs 400 crore in JV and acquire 53% controlling stake
-Halonix: entered into share purchase agreement to acquire the group structure of its distributor in Luxembourg and is in the process of entering into other agreements to implement the acquisition of business and assets of its distributors in Europe.
-HCC bags order worth Rs 51 crore from Hindalco; to be completed in 15 months
-Cholamandalam Investment and Finance Company allotted 3000 PDIS aggregating to Rs 150 crore to M/s. Darashaw & Company Pvt. Ltd
-Pratibha Ind - approved preferential allotment nearly Rs 50 crore to Van Dyck, a subsidiary of "chryscapital
-Fedders Lloyd bagged additional prestigious order worth Rs 124.93 crore from Ministry of Defence
-IDFC's tax free infra bonds issue closing date extended to Oct 22

F&O cues:


Stock Futures add 3.26 crore shares in Open Int
Futures Open Int up Rs 1209 crore

Options Open Int up Rs 1368 crore
Nifty Futures shed 4 lakh shares in Open Int
Nifty Futures at 25-pt prem versus 30-pt prem
Nifty Open Int PCR unchanged at 1.30
Nifty Puts add 7.3 lakh shares in Open Int
Nifty Calls add 6 lakh shares in Open Int
Nifty 6200 Put adds 5.7 lakh shares in Open Int
Nifty 6200 Call adds 5.2 lakh shares in Open Int
Nifty 6100 Put adds 4.95 lakh shares in Open Int
Nifty 5800 Put adds 3.4 lakh shares in Open Int
Nifty 5700 Put shed 4.6 lakh shares in Open Int
Nifty 6000 Put shed 3.9 lakh shares in Open Int

FIIs in F&O on October 11

Net buy Rs 212 crore in Nifty Futures
Net sell Rs 596 crore in Nifty Options
Net sell Rs 597 crore in Stock Futures


US Market Updates :

U.S. stocks closed flat Monday. The Dow Jones Industrial Average rose 3.7 points to 11010.34, the Standard & Poor's 500 added 0.2 points to 1165.32 and the Nasdaq Composite climbed 0.4 points to 2402.33. Among the companies whose shares are actively trading in the after-hours session are Global Payments Inc. (GPN) and Halozyme Therapeutics Inc.(HALO).

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