16 Nov 2010 Daily Recommendations

16 Nov 2010 Morning Market Updates 09:09
Daily Recommendations :
Buy Abb Fut Abv 863 sl 858 T 870
Buy BEML sl 1088 T 1112 Bounceback expected
Buy Essaroil sl 136 Bounceback expected
Buy IDFC sl 189 T
Buy IOC Abv 402 sl 397 T 412
Buy IVRPrime Abv 184 sl 178 T 197 P
Buy Mphasis Abv 590 sl 578 T 605/614 P
Buy at declines Patel sl 355 T 382/390/410 P
Buy Patni sl 468 T 510/522/538 P
Buy Reliance Bounceback expected
Buy SBIN Abv 3180 sl 3140 T 3220/3254 P
Sell Acc Bel 1059 sl 1067 T 1042
Sell on Rise Gitanjali sl 348
Sell Hindalco Bel 222 sl 226 T 215
Sell Jindalsaw Fut Bel 209 sl 216 T 199
Sell JPAssociat sl 131 T 122
Sell Sintex Bel 229 sl 233 T 221
Sell Sunpharma Fut sl 2338 T 2268 P
Stocks in News :
Govt sources say
-Microfinance bill likely in next 3-4 months
-Microfinance bill may be introduced in budget session
-Microfinance bill to use inputs from Malegam committee
-Malegam panel on Microfin institutions set up by RBI
-Malegam panel to define 'MFIs' and 'Microfinance'Stock Futures shed 1 crore shares in OI. Nifty November 6400 Call shed 9.5 lakh shares in Open Interest while Nifty December 6000 Put added 4 lakh shares in Open Interest.
Govt sources say
-No consensus yet on many aspects of microfinance bill
-Malegam panel inputs on intermediation cost crucial
-Malegam inputs to help determine nature of regulator
-MFI regulator could be 'Soft Touch Or Strict'
-Microfinance bill proposes NABARD as MFI Regulator
-Present bill keeps NBFCs out of purview
-20 NBFCs account for 80% of MFI sector
Govt sources say
-Interest cap is not a solution to solve issue
-Key problem states classifying MFIs as money lenders


Gravita India IPO lists today
-Issue price at Rs 125 (higher end of price band 120-125)
-Total subscription at 42.24
-QIB portion at 6.04 times, non institutional investors 179.7 times and retail portion 36.7 times
Mahindra Satyam Q2 consolidated
-Income from operations at Rs 1,242 crore versus Rs 1,248 crore (QoQ)
-operating profit at Rs 65 crore versus Rs 114 crore (QoQ)
-PAT at Rs 23 crore versus Rs 98 crore (QoQ)
Mahindra Satyam Says
-Q1, Q2 revenues were flat
-Synergies with M&M and Tech Mahindra quite visible
-Seeing traction in joint go-to-market strategies
-Q2 EBITDA at 5.2% vs 9.1% (QoQ)
-Sequential fall in EBITDA margin on wage hikes
-Authorities have sought Rs 503 crore in taxes for FY2003-08
-To sell Chennai SEZ; valued at Rs 33.4 crore
-Focussing on key verticals like engineering sevices, IMS
-Jointly working with M&M for differentiated contracts
-Forex loss of Rs 9.1 crore versus gains of Rs 33.6 crore
Mahindra Satyam says - CNBC-TV18 Exclusive
-See marginal growth in revenue in dollar terms
-Pay hikes & investments in core tech hurt numbers
-Sales, services have seen significant traction
-Will hire 5,000 entry-level grads next year
-Strengthening business more important that protecting margins
-Margins will not fall any further
-Deal pipeline is much lower than peers
-May be participating in large outsourcing deals
-Looking for acquisition in BPO stakes
-Enough cash reserve on balance sheet to fund acquisition
Cannot comment if eyeing Zenta BPO or not
-Broken even in BPO so far, see further growth through acquisition
-Need to streamline business before going ahead with merger
-Working actively with law firms on merger details
Bharat Forge says
Orders from NTPC for 5x660 mw turbines worth Rs 6000 to 7000 crore
-Will bid for NTPC's bulk tender for supply of TG
ABG Shipyard Q2
-Net sales up 38.3% at Rs 555.5 crore versus Rs 401.6 crore
-Net profit up 22.7% at Rs 56.2 crore versus Rs 45.8 crore
Aster Silicates Q2
-PAT at Rs 32 lakh versus Rs 1.7 crore
-Sales at Rs 16.7 crore versus Rs 20.5 crore
Ansal Housing & Contruction Q2
-PAT at Rs 13 crore versus Rs 6.2 crore
-Sales at Rs 62.4 crore versus Rs 43.2 crore
IG Petrochemicals Q2
-Net sales at Rs 154 crore versus Rs 141.5 crore
-PAT at Rs 5.1 crore versus Rs 8.5 crore
Other stocks and sectors that are in news today:
-Dabur buys US hair care company, Namaste Lab for USD 100 million: ET
-JBF to buy back Citigroups 11% in Singapore arm for USD 40 million
-Ericsson to DoT: Halt BSNL’s GSM tender process for 5.5 million worth Rs 2000 crore (ITI will be impacted)
-Skoda may partner Maruti for small car
-Vivimed Labs to buy Europe firm for USD 50 million
-Auto component maker JBM eyes bus manufacture
-Securities in F&O ban: Nagarjuna Fertiliser, Core projects, Orchid Chemical, Power Grid
-MVL: Ex-stock split 2:1
-BS Transcomm bags orders worth Rs 53 crore
-Sathavahana Ispat: Board meet today to consider issue of Share Warrants to promoters group and Equity Shares to select investor on Preferential allotment basis.
F&O cues:
Total Futures Open Int up Rs 550 crore
Total Options Open Int down by Rs 331 crore
Stock Futures net shed 1 crore shrs in Open Int
Nifty Futures net add 8.3 lk shrs in Open Int
Nifty Futures premium unchanged at 20 pts
Nifty Open Int PCR up at 1.15 from 1.13
Nifty Puts add 23k shrs in Open Int
Nfty Calls shed 11.7 lk shrs in Open Int
Nifty Nov 6400 Call shed 9.5 lk shrs in Open Int
Nifty Nov 6500 Call shed 8.1 lk shrs in Open Int
Nifty Nov 5600 Put shed 3.8 lk shrs in Open Int
Nifty Nov 6200 Put shed 3.5 lk shrs in Open Int
Nifty Nov 5800 Put add 4.3 lk shrs in Open Int
Nifty Dec 6000 Put add 4 lk shrs in Open Int
Nifty Nov 6000 Put add 3.5 lk shrs in Open Int
FIIs in F&O on Nov 15
Net sell Rs 682 crore in Nifty Futures
Nifty Futures Open Int up 34,397 contracts
Net sell Rs 1,113 crore in Nifty Options
Nifty Options Open Int down 11,995 contracts
Net buy Rs 150.4 crore in Stock Futures
Stock Futures Open Int up 728 contracts
FIIs were net sellers to the tune of Rs 1667 crore in F&O. They were net sellers of Rs 682 crore in Nifty Futures; Nifty Futures' open interest (OI) was up 34397 contracts. FIIs were net sellers of Rs 1113 crore in Nifty Options; Nifty Options' OI was down 11995 contracts.
Stock Futures shed 1 crore shares in OI. Nifty November 6400 Call shed 9.5 lakh shares in Open Interest while Nifty December 6000 Put added 4 lakh shares in Open Interest.
Short covering was seen in SBI and Rolta India. SBI shot up 4%; its OI was down 11% and delivery volume shot up at 13.7 lakh shares versus 9 lakh. Rolta rose 4.6%; its OI was down 11%.
Long buildup was seen in Orchid Chemical. The stock was up 5.3% and its OI up 21%. Delivery volume increased to 11.2 lakh shares versus 7.5 lakh.
Speculative buildup was seen in Jet Airways. The stock jumped 4.9% and its OI was up 13.5%.
Huge unwinding was seen in Nagarjuna Fertiliser. The stock plunged 7.3% and its OI was down 21%. Delivery volume jumped at 46.5 lakh equity shares versus 18.6.
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