Monday, January 24, 2011

24 Jan 2011 Daily Recommendations

24 Jan 2011 Morning Market UPdates  08:55
Note : Follow Buy recommendations in Positive market bias and v.v.


Buy Andhrabank Abv 136 sl 132 T 141
Buy Axisbank Abv 1298 sl 1287 T 1323
Buy Bajaj-auto Fut Abv 1326 sl 1307 T 1352
Buy Banknifty Fut Abv 10970 sl 10921 T 11164 P
Buy Bhel sl 2174 T 2240
Buy Centurytex sl 350 T 386 P
Buy Rcom Abv 138 sl 135 T 148
Buy SBIN Abv 2606 sl 2582 T 2679 P
Sell Jindalsaw Bel 211 sl 216 T 204

Results today: ICICI Bank, Union Bank of India, Idea Cellular, Indian Bank, JSPL, Godrej Consumers, Jindal Steel, Sesa Goa, SKS Finance, Sobha Dev, Deccan Chronicle
Chambal Fertiliser Q3 (cr - crore, vs - versus)

-Revenue up 18.5% to Rs 1353 cr vs Rs 1142 cr
-OPM 17% vs 16.2%
-PAT up 35% to Rs 107 cr vs Rs 80 cr


Omkar Speciality Chemical IPO opens today
-Price band Rs 95-98/sh
-Offer to raise Rs 76.95-79.38 crore


Tata Steel sets issue price for FPO at Rs 610/share: NW18
-QIB (net of anchor): 10.41 times (x)
-Retail: 1.46x
-HNI: 7.21x
-Employee: 0.05x
-Overall: 5.98x
ONGC :
-Mumbai offshore oil pipeline leakage stopped
-To disperse Mumbai offshore oil spill within 48 hours
RIL Q3 (Largely inline with street expectations) (YoY)
-Sales up 5.2% at Rs 59789 crore Vs Rs 56856 crore
-OPM at 15.96% Vs 13.80%
-Net profit up 28.1% at Rs 5136cr Vs Rs 4008cr
-GRM at USD 9/bbl Vs USD 7.9/bbl QoQ
-Petchem margins up 60 bps at 15.2% Vs 14.6%
-Oil and Gas margins down 360 bps at 36% Vs 39.6% QoQ
-Crude throughput at 16.1 MMT Vs 16.9 MMT QoQ
-Utilization at 104% Vs 109% QoQ
-Lower utilization on account of planned shutdown at Jamanagar refinery
-Other expenses up 7.1% at Rs 4142 crore Vs Rs 3869 crore QoQ
-Q3 Other un-allocable expenses including forex loss of Rs 117 crore
-KG-D6 average production in Q3 at 54.5 mmscmd
SBI Q3
-Net profit at Rs 2,828 cr Vs Rs 2,479.1 Cr (YoY)
-NII at Rs 9,050 cr vs Rs 6,316.3 cr (YoY)
Tech Mahindra Q3
-Consolidated net profit at Rs 260 cr vs Rs 170 cr (QoQ)
-Consolidated income from operations at Rs 1,211 cr vs Rs 1,187 cr (QoQ)
Tech Mah says from boardroom
-Q3 volume growth flat sequentially
-Q3 operating profit margin at 20.6%
-Q3 IT utilisation at 76.3%
-Discretionary IT spending slow to pick up
-Q3 attrition around 30%
-Debt as on December at Rs 1,348 cr vs Rs 1,426 cr in September
-Cash, cash equivalents at Rs 519 cr as on December 31
-Tepid quarter due to sluggish growth in telecom sector
-Strong hedge portfolio to protect margins in short-term
-Expect AT&T biz to grow
-Business from BT will not be affected by stake sale
-Details on merger with Mahindra Satyam to be clearer soon
Godrej Consumer Q3
-Cons net profit at Rs 118.8 cr vs Rs 85.1 cr (YoY)
-Cons net sales at Rs 980.4 cr vs Rs 517.6 cr (yoy)
Royal Orchid Q3
-Consolidated net profit at Rs 4.4 cr vs Rs 3 cr
-Consolidated revenues at Rs 40.9 cr vs Rs 31.3 cr (YoY)
-Consolidated EBIDTA margins at 29% vs 24.7%
Bharat Forge Q3
-Net profit at Rs 82.6 cr vs Rs 38 cr (YoY)
-Net sales at Rs 754 cr vs Rs 496 cr (YoY)
Other stocks and sectors that are in news today:
-Maruti ups vehicle prices by up to Rs 8,000
-Kotak Mahindra Bank hikes rates on some deposits by 25-50 bps effective January 22
-Government in process to ban FDI in the wholesale marketing arm of the tobacco companies (BS)
-Jyoti Structures rights issue opens today (ET)
-Vodafone gives a nod for Essar IPO (ET)
-Thermax to setup country’s first geothermal power plant in Maharashtra (ET)
-Nalco to foray into titanium production forms a JV with Indian Rare Earths will entail an investment of Rs 400 crore (ET)
-Bayer rejects Natco's VL plea for grant of voluntary license for Nexavar
-DCB mulling a QIP of Rs 150 cr in about six months reducing the promoter’s holding by 2-3% (BS)

F&O cues:

Total Nifty futures up Rs 1060 crore, Options up Rs 894 crore
Stock futures net add 35 lakh shares in OI
Nifty Fut Open Int net shed 14.4 lakh shares in OI; Nifty futures prem at 5 pts prem versus 8 pts prem
Nifty OI PCR down at 0.89 from 0.91
Nifty Put shed 3.6 shares in Open Int, Call add 15.7 shares in OI
Highest OI outstanding on options side at 6200 call, 5600 Put, 6000 call, 5700 call
Nifty Jan 5600 Put add 10.7 lakh shares in OI
Nifty Jan 5700 Call add 9.8 lakh shares in OI
Nifty Feb 5400 Put add 5.2 lakh shares in OI
Nifty Jan 5800 Call add 5 lakh shares in OI
Nifty Feb 6000 Call add 3.2 lakh shares in OI
Nifty Feb 5600 Put add 2.7 lakh shares in OI
Nifty Jan 5700 Put shed 12 lakh shares in OI
Nifty Jan 5500 Put shed 10.9 lakh shares in OI
Nifty Jan 6200 Call shed 3 lakh shares in OI
FIIs in F&O on Jan 21
FIIs net sell Rs 922 crore in Index Futures; OI up 39289 contracts
FIIs net sell Rs 11 crore in Index Options; OI down 1344 contracts
FIIs net buy Rs 227 crore in Stock Futures; OI down 11785 contracts


Market cues:

NSE F&O Open Int was up Rs 1955 crore at Rs 1.55 lakh crore.
FIIs net sell USD 183 million in the cash market on Jan 20

MFs net buy Rs 27.5 crore in the cash market on Jan 20
Nifty rollover 16%
SBI reported strong operational performance; Margins expand, supported by CASA and hike in lending rate
RIL Q3 largely inline with street expectations
Tata Steel FPO finally subscribed 6.03 times, QIBs: 10.4x, NIIs: 7.2x, Retail: 1.6 x
As per provisional data of January 21, FIIs were net sellers of Rs 368 crore in the cash market. FIIs were net sellers of Rs 726 crore in the F&O market. DIIs were net buyers of Rs 223 crore in the cash market.

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.

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