8 March 2011 Daily Recommendations 09:30
We have opened another branch at Sahakar Nagar,Pune to serve our clients better.
Mentioning Detail Address of our offices in Pune
Chinchwad Branch :
30, Gurukrupa Heights,Ruston Colony,
Chinchwad,Pune-33
Phone : 020-32669956
Prabhat Road :
C So No : 108/59/41
Bharati Niwas Soc.,Opp.Income Tax Office,
Lane No 14, Prabhat Road, Erandwane, Pune-4
Phone : 020-32404909
Sahakar Nagar :
2nd Floor, Darpan Building,
Above Hotel Relax,
Sahakar Nagar,Pune-9
Phone : 020-24210048
Nifty Resistance 5600 Above it would touch 5670
Buy Banknifty Abv 11170
Buy Apil Abv 550 sl 532 T 580 P
Buy Axisbank Abv 1350 sl
Buy Bajajhind Abv 73.5 sl 72.5 T 75.5
Buy Biocon Abv 329 sl 324 T 346
Buy Chennpetro Abv 196 sl 191 T 202
Buy DLF Abv 229 sl 224 T 240
Buy Jindalswhl Abv 965 sl 930 T 1010
Sell Educomp Bel 460 sl 473 T 440
Market opened in positive as Hong Kong shares posted modest gains early Tuesday, with property developers and coal miners in the lead as sentiment improved on a small decline in crude-oil prices. The Hang Seng Index (HK:HANGSENG 23,351, +38.26, +0.16%)rose 0.4% to 23,396.56 and the Hang Seng China Enterprises Index added 0.4% to 12,876.45.
Stocks in News :
- Lovable Lingerie IPO opens for subscription today and closes on March 11
-Price band: Rs 195-205/share (grey market premium Rs 40)
-Offer to raise: Rs 87.8-93.28 crore
-Congress asks for 1 more day to decide on fate of alliance
-DMK leaders will not submit resignations today
-DMK spokesman says
-Will get a clear picture in 2 days
-Seat sharing talks have not started yet; may happen on Tuesday
-Cannot say issue resolved yet
Chairman and Managing Director of L&T, AM Naik to CNBC TV18
-Will exit all assets below Rs 500 crore
-May exit firms through de merger or stake sale
-No intention of selling L&T Infotech
-Expect to complete restructuring by March 12, 2012
-L&T Finance IPO likely by first quarter of next fiscal
NTPC
-The Unit-I of 500 MW of Indira Gandhi Super Thermal Power Project commences commercial operations
-The Unit-VI of 500 MW of Farakka Super Thermal Power Station has been synchronized on coal
Govt sources Say
-EGoM holds meeting on Hindustan Zinc-Sterlite
-EGoM apprised of failure of mediation
-Sterlite-HZL row now headed for arbitration
-Pranab Mukherjee, Murli Deora, Praful Patel & others attend
-Govt holds 29.5% in Hindustan Zinc
-BALCO call option already declared invalid
Sajjan Jindal to CNBC TV18
-Working on Ispat debt re-financing
-Not raising PE funds for re-financing debt
-Continue to seek growth through acquisitions
-Will work to protect margins despite steel price hike
-United Phosphorus set to acquire 50% stake in Sipcam Isagro Brazil for around Rs 2700 crore (ET)
-PTC Financial Services to raise 450 crore via IPO in March 11
-Lanco Infratech to invest Rs 4000 crore on strengthening its Griffin coal mines acquisition in Australia (DNA)
-UTV Software may sell stake in Indiagames for around Rs 220-240 crore (ET)
-Tata Steel signed an agreement with Canadian based New millennium capital corp to develop taconite deposit (BS)
-Government to infuse Rs 1740 crore in Oriental Bank of Commerce to shore up the bank’s equity capital (FE)
-NTPC may lose five captive coal mines as the company has failed to achieve the necessary milestones after 5 years of allocation (DNA)
-Old private sector banks seek RBI nod for amortizing pension liability
-JSW Steel posts 8% growth in Crude Steel production in February '2011
-Andhra Bank: GOI to infuse preferential allotment to raise holding to 58% (~618 cr)
-Onmobile Global: board approves 1:1 bonus
-Karnataka Bank’s rights issue of 5.3 crore shares at Rs 85/sh open today (BS)
-Steel makers go for a marginal price hike to Rs 350-500 a tonne due to uncertainty in demand post budget (BL)
-Graphite India: Lock out declared at Powmex Steel division in Titilagarh (due to DGM being set on fire)
-Eicher Motors: Ex-Dividend Rs 11/share
-Orchid Chemical in F&O ban
F&O Cues :
FIIs were net sellers of Rs 1,923 crore in Index Futures, which open interest was down by 6,945 contracts. NSE F&O Open Interest was down by Rs 1475 crore at Rs 1.21akh crore.
Futures open interest (OI) shed 19 lakh (8%) shares in OI and discount widened to 12 points from 4 points. India VIA jumped by 10% at 25.22.
Nifty Open Interest PCR fell to 1.26 from 1.27. Nifty 5600 Call shed 20.5 lakh (25%) shares in Open Interest while Nifty 5400 call added 7.8 lakh (32%) shares in Open Interest.
Fresh shorts were seen in BHEL. The stock went down 3.2%; its OI was up by 16% and delivery volume increased at 3.5 lakh shares versus 3.12 lakh.
Fresh shorts seen and speculative selling were seen in SBI and Maruti. SBI lost 2.9%; its OI was up by 5% and delivery volume declined at 4.4 lakh shares versus 6.8 lakh.
Maruti tanked 3.7%; its OI was up by 5% and delivery volume slipped at 1 lakh shares versus 2.2 lakh.
SAIL and Educomp Solutions witnessed fresh shorts & cash based selling. The stock slipped 2.5%; its OI was up by 8% and delivery volume jumped at 8.5 lakh shares versus 4.6 lakh.
Educomp Solutions fell 5%; its OI was up by 13% and delivery volume increased at 5.13 lakh shares versus 2.3 lakh.
Unwinding and speculative selling were seen in Unitech. The stock declined 2.8%; its OI was down by 4% and delivery volume slipped at 40 lakh shares versus 1.2 crore shares.
US Markets Updates :
Surging oil prices continued to rain on the stock market's parade at the start of the week. Add a lagging tech sector and Greece's latest debt woes to the mix, and Monday was a downer to say the least.
The Dow Jones industrial average (INDU) sank 80 points, or 0.7%; the S&P 500 (SPX) fell 11 points, or 0.8%; and the tech-heavy Nasdaq (COMP) shed 40 points, or 1.4%.
We have opened another branch at Sahakar Nagar,Pune to serve our clients better.
Mentioning Detail Address of our offices in Pune
Chinchwad Branch :
30, Gurukrupa Heights,Ruston Colony,
Chinchwad,Pune-33
Phone : 020-32669956
Prabhat Road :
C So No : 108/59/41
Bharati Niwas Soc.,Opp.Income Tax Office,
Lane No 14, Prabhat Road, Erandwane, Pune-4
Phone : 020-32404909
Sahakar Nagar :
2nd Floor, Darpan Building,
Above Hotel Relax,
Sahakar Nagar,Pune-9
Phone : 020-24210048
Nifty Resistance 5600 Above it would touch 5670
Buy Banknifty Abv 11170
Buy Apil Abv 550 sl 532 T 580 P
Buy Axisbank Abv 1350 sl
Buy Bajajhind Abv 73.5 sl 72.5 T 75.5
Buy Biocon Abv 329 sl 324 T 346
Buy Chennpetro Abv 196 sl 191 T 202
Buy DLF Abv 229 sl 224 T 240
Buy Jindalswhl Abv 965 sl 930 T 1010
Sell Educomp Bel 460 sl 473 T 440
Market opened in positive as Hong Kong shares posted modest gains early Tuesday, with property developers and coal miners in the lead as sentiment improved on a small decline in crude-oil prices. The Hang Seng Index (HK:HANGSENG 23,351, +38.26, +0.16%)rose 0.4% to 23,396.56 and the Hang Seng China Enterprises Index added 0.4% to 12,876.45.
Stocks in News :
- Lovable Lingerie IPO opens for subscription today and closes on March 11
-Price band: Rs 195-205/share (grey market premium Rs 40)
-Offer to raise: Rs 87.8-93.28 crore
-Congress asks for 1 more day to decide on fate of alliance
-DMK leaders will not submit resignations today
-DMK spokesman says
-Will get a clear picture in 2 days
-Seat sharing talks have not started yet; may happen on Tuesday
-Cannot say issue resolved yet
Chairman and Managing Director of L&T, AM Naik to CNBC TV18
-Will exit all assets below Rs 500 crore
-May exit firms through de merger or stake sale
-No intention of selling L&T Infotech
-Expect to complete restructuring by March 12, 2012
-L&T Finance IPO likely by first quarter of next fiscal
NTPC
-The Unit-I of 500 MW of Indira Gandhi Super Thermal Power Project commences commercial operations
-The Unit-VI of 500 MW of Farakka Super Thermal Power Station has been synchronized on coal
Govt sources Say
-EGoM holds meeting on Hindustan Zinc-Sterlite
-EGoM apprised of failure of mediation
-Sterlite-HZL row now headed for arbitration
-Pranab Mukherjee, Murli Deora, Praful Patel & others attend
-Govt holds 29.5% in Hindustan Zinc
-BALCO call option already declared invalid
Sajjan Jindal to CNBC TV18
-Working on Ispat debt re-financing
-Not raising PE funds for re-financing debt
-Continue to seek growth through acquisitions
-Will work to protect margins despite steel price hike
-United Phosphorus set to acquire 50% stake in Sipcam Isagro Brazil for around Rs 2700 crore (ET)
-PTC Financial Services to raise 450 crore via IPO in March 11
-Lanco Infratech to invest Rs 4000 crore on strengthening its Griffin coal mines acquisition in Australia (DNA)
-UTV Software may sell stake in Indiagames for around Rs 220-240 crore (ET)
-Tata Steel signed an agreement with Canadian based New millennium capital corp to develop taconite deposit (BS)
-Government to infuse Rs 1740 crore in Oriental Bank of Commerce to shore up the bank’s equity capital (FE)
-NTPC may lose five captive coal mines as the company has failed to achieve the necessary milestones after 5 years of allocation (DNA)
-Old private sector banks seek RBI nod for amortizing pension liability
-JSW Steel posts 8% growth in Crude Steel production in February '2011
-Andhra Bank: GOI to infuse preferential allotment to raise holding to 58% (~618 cr)
-Onmobile Global: board approves 1:1 bonus
-Karnataka Bank’s rights issue of 5.3 crore shares at Rs 85/sh open today (BS)
-Steel makers go for a marginal price hike to Rs 350-500 a tonne due to uncertainty in demand post budget (BL)
-Graphite India: Lock out declared at Powmex Steel division in Titilagarh (due to DGM being set on fire)
-Eicher Motors: Ex-Dividend Rs 11/share
-Orchid Chemical in F&O ban
F&O Cues :
FIIs were net sellers of Rs 1,923 crore in Index Futures, which open interest was down by 6,945 contracts. NSE F&O Open Interest was down by Rs 1475 crore at Rs 1.21akh crore.
Futures open interest (OI) shed 19 lakh (8%) shares in OI and discount widened to 12 points from 4 points. India VIA jumped by 10% at 25.22.
Nifty Open Interest PCR fell to 1.26 from 1.27. Nifty 5600 Call shed 20.5 lakh (25%) shares in Open Interest while Nifty 5400 call added 7.8 lakh (32%) shares in Open Interest.
Fresh shorts were seen in BHEL. The stock went down 3.2%; its OI was up by 16% and delivery volume increased at 3.5 lakh shares versus 3.12 lakh.
Fresh shorts seen and speculative selling were seen in SBI and Maruti. SBI lost 2.9%; its OI was up by 5% and delivery volume declined at 4.4 lakh shares versus 6.8 lakh.
Maruti tanked 3.7%; its OI was up by 5% and delivery volume slipped at 1 lakh shares versus 2.2 lakh.
SAIL and Educomp Solutions witnessed fresh shorts & cash based selling. The stock slipped 2.5%; its OI was up by 8% and delivery volume jumped at 8.5 lakh shares versus 4.6 lakh.
Educomp Solutions fell 5%; its OI was up by 13% and delivery volume increased at 5.13 lakh shares versus 2.3 lakh.
Unwinding and speculative selling were seen in Unitech. The stock declined 2.8%; its OI was down by 4% and delivery volume slipped at 40 lakh shares versus 1.2 crore shares.
US Markets Updates :
Surging oil prices continued to rain on the stock market's parade at the start of the week. Add a lagging tech sector and Greece's latest debt woes to the mix, and Monday was a downer to say the least.
The Dow Jones industrial average (INDU) sank 80 points, or 0.7%; the S&P 500 (SPX) fell 11 points, or 0.8%; and the tech-heavy Nasdaq (COMP) shed 40 points, or 1.4%.
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