10 Nov 2010 Daily Recommendations

10 Nov 2010 Morning Market Updates  08:41


Hangseng was down as China will tighten control of foreign funds in the country, preventing a flow of hot money into China's capital markets. The State Administration of Foreign Exchange will tighten foreign debt-quotas for banks as China is preparing for the capital flee from the U.S. thanks to the $600 billion liquidity pump. Stocks in Shanghai and Hong Kong fell, financial stocks bearing most of the brunt.


Daily Recommendations :


Hold Long Aban sl 836 T 888 P
Buy Aptecht sl 162 T 167
Buy Bankindia sl 522 T 532
Buy Bhartiartl sl 328 T 350/355 P
Buy Bomdyeing on Dips sl 595 T 624
Hold Long DLF sl 359 T 371/377 P
Buy Educomp Abv 574 sl 562 T 593
Hold Long Finantech Ref.08/11 sl 1050 T 1200 P
Buy GMRInfra sl 52 T 57 HRHR
Buy Orbitcorp sl 117 T 123
Hold Long Pateleng Ref.09/11 sl 374 T 392


Sell Andhrabank sl 181 T 175
Sell Auropharma Bel 1306 sl 1328 T 1283
Sell Bankbaroda Fut Bel 1014 sl 1025 T 1001


Results today: Bharti Airtel, BPCL, Britannia Industries, DLF, Great Offshore, Gujarat Industries, Nagarjuna Construction, Power Finance, Alphageo, C&C Construction, Eros International, Hanung Toys, Kesoram Industries, Maytas Infra, Noida Toll, Nitesh Estates, Provogue India, Ruchi Soya, Sonata Software






















Hathaway Cables Q2


-Net sales at 112.7 crore versus Rs 95.7 crore


-Profit at Rs 4 crore versus loss of Rs 13.9 crore


-EBITDA at Rs 35.6 crore versus Rs 14.1 crore






Manappuram General Finance - CNBC-TV18 exclusive - Sources


-Manappuram QIP book launches


-Manappuram plans to raise Rs 675-1,000 crore via QIP


-Enam, CLSA, BoA ML, UBS bankers to issue


-Manappuram QIP price band at Rs 163-168/share






Tata Motors Q2


-Consolidated net profit at Rs 2,223 crore versus Rs 21.78 crore (YoY)


-Consolidated net sales at Rs 28,573 crore versus Rs 20,878 crore (YoY)


-Raw material cost at Rs 17,016 crore versus Rs 12,661 crore (YoY)


-Staff cost at Rs 2,274 crore versus Rs 2,298 crore (YoY)


-Total costs at Rs 25,875 crore versus Rs 20,431 crore (YoY)


-Other income at Rs 19.54 crore versus Rs 407 crore (YoY)


-Net interest cost at Rs 531 crore versus Rs 559 crore (YoY)


-Forex gain at Rs 128 crore versus Rs 163 crore (YoY)






Tata Motors says:


-JLR Q2 net profit at Rs 1,715 crore


-JLR Q2 volumes up on improved market conditions


-JLR Q2 EBITDA margins at 16.6%


-JLR Q2 China volume sales 5,801 units, up 52%


-Debt-to-equity ratio at 1.16:1 as On September 30


-Cash reserves at Rs 9,000 crore as on September 30






Tata Motors says


-Total consolidated net debt at Rs 26,000 crore as on September 30


-JLR working to resolve engine constraints from Ford


-JLR yearly capex between 800 million -1 billion pounds


-LCV units in Dharwad to come up in 12-18 months


-Not ruling out further product price hikes


-May assemble Jaguar in India in 'market prepared'


-To assemble Land Rover in India early 2011


-No fund raising plans as of now


-Have delivered 70,000 Nanos since July 2009


Deepak Parekh says:




-FDI hike a pre-requisite for listing HDFC Life


-Hope that Insurance Bill is passed early next year


-New insurance guidelines were necessary


-Insurance industry was mis-selling products


-Till now, insurance commissions were too high


-Wish regulatory changes came in stages
ICICI Bank




-Re-introduces special home loan scheme for all customers


-To offer 8.5% for 1st year, 9.25% for 2nd year, floating thereafter


-To sanction new loans till November 30






Other stocks and sectors that are in news today:


-Ex-date for RNRL (Reliance Power merger)


-Sterling Holiday Resort open offer opens on November 10, closes on November 29, open offer at Rs 36.35/sh (CMP 102)


-Everonn Education open offer price stands revised to Rs 587.01/sh from Rs 560/sh, open offer closes on November 27 (CMP 654)


-Vardhman Poly defers issue of warrants/equity shares to financial investors as the board could not be held for want of quorum


-Edserv Soft board meets in November 10 to consider the issue of Equity Shares / Warrants / Convertible Debentures or such other securities on preferential basis


-Redington India ties up with ACER for mobile handset phones


-JMC Projects board approves issues of 43.5 lakh shares to Kalpataru Power (Promoter of the company) at Rs 207/share


-AV Birla Nuvo eyes carbon black division of Germany’s Evonik, deal size seen at USD 1.25 billion – BS


-Tata DoCoMo unveils aggressive 3G tariffs


-Tata Global Beverages in talks with PE Players to raise funds by diluting minority stake – BS (Also looking to raise USD 200 million buy selling stake in Tetley – ET)


-SKS to reduce interest rates to 24%


-ONGC Blocks USD 500 million payments to Cairn, alleges partner inflated expenses in Rajasthan block


-IVRCL Assets plan Rs 600 crore via, stake sale in road projects – ET

F&O cues:

Total Futures Open Int up Rs 863 crore, Total Options Open Int up by Rs 2659 crore
Stock Futures add 3.7 crore shares after adding 5.8 cr shares a day ago

Nifty futures net shed 2.8 lakh in Open Int, at 32.5 pts premium versus 23 pts premium
Nifty Open Int PCR at 1.39 from 1.36
Nifty Puts add 24.5 lakh shares, Calls add 6.6 lakh shares in Open Int
Highest OI outstanding at 6000 Put (72 lakh) and 6500 call (72.7 lakh)
Nifty Nov 6300 Put add 15.7 lakh shares in Open Int
Nifty Nov 6200 Put add 3 lakh shares in Open Int
Nifty Nov 6400 Put add 2.6 lakh shares in Open Int
Nifty Nov 6100 Put add 2.46 lakh shares in Open Int
Nifty Nov 6400 Call add 2.2 lakh shares in Open Int
Nifty Nov 6300 Call add 2 lakh shares in Open Int
FIIs in F&O on November 09
Net sell Rs 886 crore in Nifty futures; Open Int up 12359 contracts
Net buy Rs 157 crore in Nifty options; Open IntI up 21666 contracts
Net buy Rs 260 crore in Stock Futures; Open Int up 4876 contracts


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