10 Jan 2011 Daily Recommendations

10 Jan 2011 Morning Market Updates  08:46
Market may open flat as global markets are negative.
Nifty may bounce back for short covering for a while.
Daily Recommendations :
Follow Buy Recommendations in Positive Market Bias & v.v.

Nifty Fut. support @ 5840
Banknifty Fut.exit short, strong support @ 11030
Exit Short Bhartiartl (Intraday Call Given) at 347
Buy Cairn Abv 345 sl 340 T 352
Buy Hindpetro Abv 399 sl 393 T 418 (Positional)
Buy LT sl 1821 T 1852/1870
Sell Aban sl 779 T 749
Sell Adanient sl 634 T 618
Sell Auropharma sl 1325 T 1298
Sell Divislab sl 641 T 624
Sell HCLTech Bel 459 sl 464 T 450
Sell HDFCBank Bel 2260 sl 2277 T 2243 (Positional)
Sell JPAssociat Bel 101 sl 103 T 98
Sell Ranbaxy Bel 583 sl 593 T 570
Sell Rcom Bel 136 sl 139 T 132

The non-farm payrolls data increased less than expected 103,000. Meanwhile, there was a surprise drop in the headline unemployment rate to 9.4% from 9.7%, but the drop is most likely due to lower participation, the expiration of unemployment benefits, and even some seasonality effects.
-European markets fell slightly on Friday, as worries about the euro zone intensified ahead of debt auctions this week and US jobs data.

-In the currency space, the Dollar Index held the 81 mark as the euro continued to be under pressure after hitting its lowest level against the greenback in nearly four months on Friday.
-In commodities, oil prices fell in volatile trade as the stronger dollar and a stock market slide in US erased earlier gains, and crude started the year with a weekly loss.
-In the precious metals space, gold witnessed its biggest weekly decline since May falling below USD 1,369 an ounce on Friday.
-The Patni promoters are likely to sign deal with iGate today. And as per CNBC-TV18 report, the deal may be sealed at around one billion dollars including the open offer.
-HCC will be in focus as the leader of the environment ministry's inspection team in Lavasa said that there is prima facie no evidence of large scale destruction of forests or of water supply disruption to Pune.
In primary market action- the Midvalley Entertainment IPO opens today. The issue has been priced between Rs 64-70 and closes on Jan 12.


Results Today :
Results today - Jindal Polyfilms, Pennar Industries.

Patni board meet today

-iGate consortium likely to announce takeover today
HCC in focus
MoEF inspection committee member Naresh Dayal says:
-Prima facie it appears forest has not been destroyed
Alert: PIL against Lavasa alleged construction done on fertile land
-Lavasa project does not affect water supply to Pune
Alert: PIL against Lavasa alleged water supply to Pune will be affected
-Stop construction order to be looked at only by HC
Alert: MoEF concludes 3-day visit to Lavasa
RBI Governor, D Subbarao says
-Micro finance complex issue
-Micro finance sector has added value to finance sector
-MFIs have helped poor access credit
-Malegam panel report on MFI later this month
-After report will take view on MFI sector
Indraprastha Gas Q3
-Net sales at Rs 454.7 crore versus Rs 284.6 crore
-Net profit at Rs 67.2 crore versus Rs 58.9 crore
-PM asks Oil Ministry to decide on Cairn deal by end of Month – ET
-RIL’s 4G revolution to begin by year end – DNA
-Orbit Corp’s Marine Drive tower issued stop work notice by BMC for allegedly violating environment norms– HT
-Tata Steel plans to raise up to Rs 7000 crore from the FPO to part finance its expansion (FE)
-Ruias, Jindals among likely bidders for the Rs 9000 crore Navi-Mumbai airport (FE)
-Fortis Healthcare eyeing acquisitions in the Australasia region during 2011 (BL)
-DGH asks Reliance to raise its output on the gas production by March (TOI)
-KPIT Cummins board approves allotment of 77.58 lakh shares at a minimum price of Rs 145/share (total Rs 112.5 crore) to Warhol Limited, Mauritius, (an affiliate of Chrys Capital V LLC, Mauritius)
-Spanco bags order worth Rs 66 crore from Maharashtra State Electricity Distribution
-Midday Multimedia board meet today to consider record date for ex-scheme of arrangement between Jagran and Midday.
-Nagarjuna Fertilisers board meet today to approve the Composite Scheme of Arrangement and Amalgamation of IKisan Limited and Kakinada Fertilizers Limited and Nagarjuna Fertilizers and Chemicals Limited and Nagarjuna Oil Refinery Limited.
-Sujana Towers: Ex split 5:1
Revenue dept sources say
-Do not expect many taxation changes in budget 2011-12
-Limited room to tinker direct, indirect tax rates next FY
-Finance Ministry has stated position on direct tax rates in code
-Finance Ministry has also stated position on GST rates
-Not possible to deviate much from stated position

DTC proposed 30% corporation tax rate
DTC proposed Rs 2 lakh exemption limit for PIT
-Finance Ministry proposed 10% goods rate in year-1 of GST
-Finance Ministry proposed 8% service tax rate under GST
Revenue Dept sources say
-Duty rejig to cool inflation may also be considered
-International tax moves may be key revenue driver
-May look at measures to boost international taxe
-Concerned over lower tax-GDP ratio due to inflation
Commerce Secretary says:
-April-December imports up 19% at USD 247.1 billion (YoY)
-December imports down 11.1% at USD 25.1 billion (YoY)
-April-December exports up 29.5% at USD 164.7 billion (YoY)
-December exports up 36.4% at USD 22.5 billion (YoY)
-December trade deficit at USD 2.6 billion
-December trade deficit lowest in 2 years
-Govt to discuss raising cotton export cap on January 14
Commerce Ministry sources say:
-December exports register highest growth in 3 years
-May reconsider export SOPs in light of surge in exports
-Little fiscal room to maneuver, will consider which sectors really need incentives.
-May carry over budgeted incentives to first half of FY 12
Commerce Ministry was to announce export SOPs in January
Telecom Secretary says to issue guidelines for 3G video calls next week
FM says:
-Cannot allow PSUs to suffer because of under recovery
-Have spoken to state CM's to keep check on prices
-PDS to be revamped by state govts
-PDS is Public Distribution System
-Prices can't be checked by central govt alone
-Dip in onion prices in some centres post IT search
-Big difference between general & wholesale prices
Health Ministry says
-Takeover of local pharma companies matter of grave concern
-Have recommended setting up of interministerial task force
-Task force to evaluate whether 100% takeover to be
-Health Ministry recommended capping FDI in pharma to Finance Ministry
Currently 100% FDI is allowed in pharma
Shipping Secretary says - from NewsWire18
-To unveil new 10-year maritime development plan on January 13
-New maritime plan aims 3 billion tonne port capacity 2020
-Maritime plan aims 2.5 billion tonne cargo handling 2020
Disclaimer :

This blog has been prepared by the Research Division of Integrity Financial Consultants Pvt. Ltd.(IFCL),Pune, India and is meant for use by the recipient only as an informative. Nothing on this blog/website is intended or should be construed as investment advice. It is intended to be used for informational purposes only. This document is not to be reported or copied or made available to others without prior permission of (IFCL). It should not be considered or taken as an offer to Buy or Sell or a solicitation to Buy or Sell any security. These views alone are not sufficient and should not be used for the development or implementation of an investment strategy. It should not be construed as an investment advice to any party. All opinions and estimates included here constitute our view as of this date and are subject to change without notice. The information contained in this report other than the recommendation(s) has been obtained from sources that are considered to be reliable. However, iNTEGRITY has not independently verified the accuracy or completeness of the same. Neither iNTEGRITY nor any of its affiliates and/or its business associates and/or its directors and/or its employees accept any responsibility of whatsoever nature for the information, statements and opinion given, made available or expressed herein or for any omission therein. Recipients of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well as the market related investments are subject to market risk and volatility. The suitability or otherwise of any investments will depend upon the recipient's particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor. Either (IFCL) and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives may have position(s), make market, act as principal or engage in transactions of securities of companies referred to in this report and they may have used the research material prior and / or after to publication. The information shared in this blog may be and or may not be 100% perfect as it is being shared from many sources. iNTEGRITY and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives do not take any type of responsibility if reader or recommendation(s) follower will face any losses or liabilities because of our recommendations; market risk will be always there while and whenever concerned parties enter the stock market by any means.It is recommended for the recipients to take their decisions according to re-verification of the shared information. No arguments and / or claims and / or objections will be entertained. Similarly, iNTEGRITY and / or its affiliates and / or its business associates and / or its directors and / or its employees and / or its representatives and / or its clients and / or their relatives will not take any assurity about our given recommendation(s) about its success. Sole discretion will be most recommended for readers and/or subscribers and/or followers and/or information receivers and/or investors and/or traders.