8th Oct 2010 Daily Recommendations

8th Oct 2010  Daily Recommendations  08:40


FYI



Note : Follow Sell recommendations in Negative market bias & v.v.. Keep strict sl while taking positions.


Buy:


HDFCBank Abv 2461 sl 2443 T 2493
Corpbank sl 713 T 735
Hindpetro Abv 529 sl 518 T 545
Mphasis sl 650 T 660
Patni sl 442

Sell:
BankNifty Fut sl 12613 T 12500/12455
Axisbank Bel 1560 sl 1571 T 1540
DLF sl 385 T 372
Gail Bel 481 sl 485 T 477/473
HDFC sl 736 T 711
Infosystch Bel 3046 sl 3060 T 3012
LT Bel 2031 sl 2044 T 2009
Hold Short SBIN sl 3235 T 3189
Tatamotors Bel 1126 sl 1137 T 1111
Tatasteel Bel 642 sl 649 T 630
TCS Bel 937 sl 949 T 923
JSWSteel Bel 1368 sl 1377 T 1348
Hold Short LICHSGFin sl 1454 T 1423
McDowell sl 1604 T 1574
Yesbank Bel 342 sl 346 T 336


-Relaxes guidelines on restructured loans




-Promoters can make half payment within a year


-Banks to give relaxation to promoters facing difficulty


CNBC-TV18 alert: Promoters required to bring 15% upfront payment


-Promoters can bring equity, convert unsecured loans to equity


-Promoters can bring interest free loans as upfront payment


Cairn IndiaF&O cues:




-Cairn Energy shareholders ok sale of majority stake in Indian arm to Vedanta


-Vedanta’s open offer to Cairn India shareholders to be delayed, SEBI yet to approve open offer


SEBI says


-Awaits comments from merchant bankers on Cairn open offer


CNBC-TV18 alert: Cairn open offer was to begin on October 11, 2010


-SEBI was to offer comments on open offer by September 21, 2010






IPOs


-Oberoi Realty IPO update: Overall subscribed 1 times (X); QIB 2x; issue closes today


-BS Transcomm IPO update: Overall subscribed 0.45x; NII: 1.74x, retail: 0.54x; closes today


-Listings today: Ramky Infra, Orient Green Power, Electrosteel Steel






Other stocks and sectors that are in news today:


-Pantaloon Retail board approves raising up to Rs 750 cr via QIP


-Metal stocks in focus: Alcoa reports strong Q3 earnings


-Piramals in talks with IVRCL for Hind-Dorr Oliver – DNA ((Sudhir Reddy had told this week that he is open to selling Hind Dorr provided price is at substantial premium))
Stock Futures shed 1.8 crore shares in Open Int

Futures Open Int down Rs 1294 crore

Options Open Int up Rs 2679 crore




Nifty Futures shed 6 lakh shares in Open Int

Nifty Futures at 26-point premium


Nifty Open Int PCR unchanged at 1.27


Nifty Puts add 18 lakh shares in Open Int


Nifty Calls add 17 lakh shares in Open Int


Nifty 6000 Put adds 3.5 lakh shares in Open Int


Nifty 6200 Call adds 6.2 lakh shares in Open Int


FIIs in F&O on October 7


Net sell Rs 64 crore in Nifty Futures


Net buy Rs 637 crore in Nifty Options


Net sell Rs 804 crore in Stock Futures


US Markets :
US markets ended mixed after a volatile session ahead of the monthly jobs data to be released today. The Dow rose to as high as 10,998, almost hitting the psychologically important 11,000 level in early trade but eventually closed flat.


Dow Jones Industrial Average was down 0.17% or 19.07 points at 10948.58. Nasdaq Composite was up 0.13% or 3.01 points at 2383.67. Standard & Poor's 500 was down 0.16% or 1.91 points at 1158.06.








Discalimer:



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