Intraday calls for 31 Dec

BEST BUY

GATEWAY DISTRIPARKS (BUY) 162-162.5 (Target1) 166.7 ( Target 2) 169 (Sl) 154

ESSAR OIL (BUY) 319-321 (Target1) 327 ( Target 2) 331 (Sl) 312

ALOK INDUSTRIES (BUY)102.5-103.15 (Target1) 106 ( Target 2) 109.6 (Sl) 98

[ 28/12/2007] Intraday calls

BEST BUY

RELICANCE ENERGY (BUY) 2145-2150 (Target1) 2176 ( Target 2) 2201 (Sl) 2088

DLF (BUY) 1013-1018 (Target1) 1027 ( Target 2) 1039 (Sl) 986

AHLUWALIA CONTRA (BUY)340-345.5 (Target1) 355.6 ( Target 2) 361 (Sl) 334

27/12/2007 - Intraday Calls

BEST BUY

ESSAR OIL (BUY) 294.8-297.2(Target1) 303.5( Target 2) 310 (Sl) 286

SHREE ASHTAVINAYAKA (BUY) 468-470 (Target1) 477 ( Target 2) 483 (Sl) 458

ASHAPURA MINE (BUY)380-381.5 (Target1) 385.6 ( Target 2) 391 (Sl) 374

calls[19/12/2007]

BEST BUY

JP HYDRO(BUY) 129.8-130.6(Target1) 133.5( Target 2) 136.2 (Sl) 124

OMAXE (BUY) 545-547 (Target1) 553 ( Target 2) 561 (Sl) 529

GMR INFRA(BUY)233-235(Target1)240.9( Target 2) 246 (Sl) 227

calls...[18/12/2007]

BEST BUY

ESCORTS LTD(BUY) 140-142(Target1) 145.5( Target 2) 149 (Sl) 134

OMAXE (BUY) 510-515 (Target1) 523 ( Target 2) 528 (Sl) 499

RPL (BUY)203-205(Target1)208.9( Target 2) 211 (Sl) 199

Calls [ 17/12/2007]

BEST BUY

ISPAT INDS (BUY) 79.65-80.5(Target1) 83.4( Target 2) 85.25 (Sl) 77

NAGARJUNA FERT(BUY) 80.8-81.40 (Target1) 83.7 ( Target 2) 85.3 (Sl) 77.2

JP HYDRO (BUY)131.7-132.4 (Target1)134.8 ( Target 2) 138 (Sl) 127.25

Intraday Calls...[ 14/12/2007]

BEST BUY

TTML (BUY) 61.05-61.5(Target1) 63.4( Target 2) 65.25 (Sl) 58

IFCI(BUY) 124.75-125.60 (Target1) 128.7 ( Target 2) 131.3 (Sl) 119

JP HYDRO (BUY)111.7-112.4 (Target1)114.8 ( Target 2) 118 (Sl) 107.25

Calls....[11/12/2007]

BEST BUY

NAGARJUNA FERT (BUY) 85.25-85.5(Target1) 87.3( Target 2) 89 (Sl) 83.2

AFTEK LTD(BUY) 83-84 (Target1) 86.7 ( Target 2) 91 (Sl) 80.9

GMR INFRA (BUY)240-242 (Target1) 248.4 ( Target 2) 255 (Sl) 233

intraday calls [06/12/2007]

BEST BUY

STERLITE OPTICALS (BUY) 316-317.9 (Target1) 321.8( Target 2) 326 (Sl) 309

ESSAR OIL (BUY) 298-301 (Target1) 308 ( Target 2) 314.5 (Sl) 288

EVERONN (BUY)610-614 (Target1) 624 ( Target 2) 632 (Sl) 599

Calls [ 05/12/2007]

hind const
buy arnd 210/211
sl 208
tgt 215/219.

Intraday Calls [03/12/2007]

BEST BUY

GMR INFRA (BUY) 254-256 (Target1) 261.7 ( Target 2) 266 (Sl) 243

MTNL (BUY) 171-172 (Target1) 175.8 ( Target 2) 181 (Sl) 166

IFCI (BUY) 94-95 (Target1) 98 ( Target 2) 102.1 (Sl) 87

Intraday calls for 30 Nov

BEST BUY

RPL (BUY) 212-215 (Target1) 223 ( Target 2) 229.2 (Sl) 201

ESSAR OIL (BUY) 207-209 (Target1) 215 ( Target 2) 219.4 (Sl) 198

NAGARJUNA FERT (BUY) 70-70.45 (Target1) 73 ( Target 2) 76.7 (Sl) 67

buy

BUY

ADLAB sl 933 tr 967--991

BHusanSteel sl 1430 tr 1539--1627

Cummings sl 403 tr 424--437

Jindalsaw sl 830 tr 906--954

and Gitanjali & Ispat as above

Intraday calls for 29 Nov

BEST BUY

GITANJALI GEMS (BUY) 392-394 (Target1) 400 ( Target 2) 404.2 (Sl) 384

NIIT (BUY) 141-142.5 (Target1) 145 ( Target 2) 149 (Sl) 131

GATEWAY DISTRIPARKS (BUY) 147-148 (Target1) 153 ( Target 2) 158.2 (Sl) 135.5

Intraday calls for 27 Nov

BEST SELL

ESSAR OIL (SELL) 188-190 (Target1) 184 ( Target 2) 179 (Sl) 197

INDIABULLS FINANCIALS (SELL) 788-791 (Target1) 784 ( Target 2) 777 (Sl) 799

GITANJALI GEMS (SELL) 372-374 (Target1) 367 ( Target 2) 361 (Sl) 379.4

Calls....[26/11/2007]

BEST BUY

IFCI (BUY) 89-90 (Target1) 93.4 ( Target 2) 97 (Sl) 81

RPL (BUY) 211-213(Target1) 219 ( Target 2) 223.6 (Sl) 199

GMR INFRA (BUY) 242-244 (Target1) 249.6 ( Target 2) 253.2 (Sl) 233.5

Calls....[23/11/2007

OMAXE Buy 381-390 361.50

Calls....[23/11/2007]

BEST BUY

IFCI (BUY) 87-88 (Target1) 90.5 ( Target 2) 93.6 (Sl) 79

RPL (BUY) 209-211(Target1) 216 ( Target 2) 221.6 (Sl) 199

NAGARJUNA FERT (BUY) 69-70.5 (Target1) 75.6 ( Target 2) 79 (Sl) 63

EKC sl 320 tr 337.80--353

LICHFIN sl 322 tr 337.95--349

HINDALCO sl 185 tr 191.3--197.4

Denabank sl 75.7 tr 79.9--82.4

Calls...

RENUKA SUGAR Sel Below 710 stoploss 717 Targeting 695-92 Premarket Intraday

essar steel tgt 55/57

essar steel
cmp 48.85
buy arnd 48/49
sl 43
tgt 55/57.
happy investing

Calls....[15/11/2007]

BEST BUY

CHAMBAL FERT (BUY) 54.8 (Target1) 56.2 ( Target 2) 58.25 (Sl) 53.1

JP HYDRO (BUY) 97- 97.4 (Target1) 99 ( Target 2) 101.1 (Sl) 93

JUPITER BIO (BUY) 169.5 (Target1) 172 ( Target 2) 174.5 (Sl) 165

Oil companies dump bonds at a discount

LIC sole taker for oil bonds.

What is the connection between oil subsidies and the Life Insurance Corporation (LIC)?

Well, LIC, the government-owned insurer, is bailing out the financially-strapped oil marketing companies by buying up the oil bonds issued to them by the government, though at a discount.

“LIC is pretty much the sole buyer of these bonds,” confirmed a senior official of Indian Oil Corporation (IOC), the largest government-owned marketing company.

Other financial institutions together buy a minuscule amount of the bonds on sale by IOC and the other two oil marketing companies — Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL).

These bonds are issued by the oil marketing companies to compensate for charging consumers less than market price on petroleum products like fuel, LPG and kerosene.

In the current year, 42.7 per cent of the under-recoveries (read retail losses) of oil companies — estimated at Rs 54,935 crore — will be met by oil bonds.

The amount of bonds on sale each year is huge. This year, about Rs 23,458 crore worth of bonds are slated to be issued. This is likely to be revised upwards with global crude oil prices hovering close to the $100 a barrel mark.

Since the oil companies are losing Rs 240 crore a day, they monetise the bonds as soon as possible to meet their working capital needs.

“From selling these bonds at a premium, we have now moved to monetising them at a discount of almost 5 per cent of the face value,” said the official.

This financial year IOC has sold around Rs 6,000 crore worth of oil bonds already, from which it has managed to realise only around Rs 5,700 crore. HPCL has realised around Rs 1,728 crore from the Rs 1,800 crore worth of oil bonds it has sold so far this financial year.

The amount of bonds that these oil companies can sell in a quarter is also capped at 25 per cent of the total bonds in their portfolio.

These companies have, therefore, seen a sharp rise in borrowings. IOC has already borrowed close to Rs 28,000 crore so far this financial year compared with around Rs 27,000 crore in the whole of the last financial year.

“I don’t want paper (bonds). I want cash,” said IOC Chairman Sarthak Behuria recently.

This view is echoed by other oil companies. “We need cash to meet our project costs and daily expenses,” said a senior official of HPCL.

The company’s board has recently approved an increase in the annual borrowing limit to Rs 17,500 crore against Rs 13,000 crore earlier.

The bonds usually have a face value of either Rs 100 or Rs 1,000. The bonds are released by the government in three tranches during a financial year. They come with a maturity period of over five years, which can go up to 10 years. The interest rate on the bonds is usually around 8 per cent.

Crude oil: Hitting a Ton

Crude oil hitting the $100-abarrel mark now seems to be a matter of when rather than if. The run-up from $75 to $95 has been quite fast, accelerated by the weakening dollar, falling crude oil inventories and growing energy demand. From the beginning of ’03 till mid-’04, prices hovered between $25-$40. For the next two years, prices soared from $40 to touch nearly $80 per barrel.

In the second half of ’06, prices did drop till $50 but only to rally again in ’07. The Iraq war, growth of Asian economies and their energy consumptions, disruption caused by hurricanes in ’05 and US refinery problems involving conversion from MTBE as an additive to ethanol have been key factors contributing to the rise in oil prices over the last five years.

The recent spurt in oil prices is, however, not supported by a corresponding rise in demand or disruption in supply of crude. There has been no dramatic increase in crude oil consumption in last two years as shown by the table. In fact, since ’03, oil supply has closely tracked the demand growth. Demand for other sources of energy is growing much faster and share of oil in total energy consumption is declining steadily.

Since ’05, total demand for energy is growing at a compounded annual rate of 3%. Not surprisingly, many observers feel that high prices of oil have been partly due to speculation rather than any fundamental change in demand-supply situation.

The speculation in oil contracts has been aided by unprecedented liquidity flows into the global financial market, which has lead to asset inflation around the globe. An expectation of rising prices has converted crude oil into an asset class just like gold. Historically, investment in crude oil gives an excellent hedge against the weak US dollar. While the 5-year correlation between crude oil prices and the euro-dollar rate stands at 68%, the fast declining dollar has caused the correlation to accelerate to 94.5% since the beginning of ’07.

The second consecutive interest rate cut by the US Fed in less than two months along with an indication that it is not going to be the last one is favouring a bullish view for crude oil prices. So, do we see crude oil prices going higher from the $100 mark? According to data reported by Bloomberg, oil traders have raised their bets on crude oil at $125.

Kaushalya Infra IPO price band Rs 50-60/sh, opens on Nov 20

Kaushalya Infrastructure Development Corporation will be foraying into the capital markets with an IPO of 85 lakh equity shares of Rs 10 each for cash at a premium to be decided by 100 per cent book building process.

Price band

The price band is fixed between Rs 50 and Rs 60. The issue will open on November 20 and close on November 23. The shares are proposed to be listed on the BSE and NSE.

Objects

The company plans to use the proceeds from the issue to fund land acquisition, land development rights and real estate development, investment in BOT/BOOT projects for joint ventures, and purchase of capital and infrastructure equipment for the execution of projects.

Net issue

Up to 4.75 lakh equity shares will be reserved for employees and net issue to the public would be 80,25,000 equity shares.

This net issue would constitute 40.93 per cent of the fully diluted post-issue paid-up capital of the company.

SREI Capital Markets Ltd will be the lead managers of the issue and Intime Spectrum Registry Ltd the registrar, reports The Hindu Business Line.

PVR Ltd: Buy

An investment can be considered in the stock of PVR Ltd, one of the country’s larger multiplex chains. The stock trades at 18 times its estimated financial year 2008 per-share earnings and at about 12-13 times estimated financial year 2009 earnings, assuming conservatively that growth rates will halve from historic levels.

PVR appears quite capable of delivering such growth rates, given its aggressive plans to add screens, its superior track record in execution and a healthy film production pipeline that will ensure steady content supply. It’s own foray into co-production and other businesses also holds promise.

PVR reported a 40 per cent growth in revenues to Rs 116 crore and 80 per cent growth in net profits in the first half of the financial year 2008 A significant driver of margin expansion in recent quarters has been the waiver of entertainment tax for some of its multiplex properties. However, we expect PVR to maintain its margins. With 23 multiplexes or 89 screens under the PVR Cinemas circuit, it is likely to add 37 screens over the next three quarters. It has a particularly strong presence in Delhi and the NCR regions, which means it has access to premium real estate.

Forays into other regions might come at relatively lower rental costs. PVR now claims to account for at least 10 per cent of domestic theatrical revenues. Shorter film runs have resulted in a higher distributor share, but PVR has so far managed to maintain this share at about 30 per cent of gross ticket sales. It also has a favourable revenue mix, with only 60 per cent of its revenues coming from box office sales.

About 20 per cent of its revenue is derived from sale of food and beverages.

The company’s subsidiary PVR Pictures has gained traction in the distribution business. PVR is also foraying into food courts business through a joint venture with the Dabur group.

Use of the joint venture route and the measured pace of expansion into new areas lend confidence. We, however, have not factored in any gains from these businesses.

DLF to buy ultra-luxury Amanresorts for $250 mn

First overseas buy by India's largest real estate company.

DLF Ltd is acquiring the privately-held super luxury resorts and spa chain Singapore-based Amanresorts for around $ 250 million.

This will be the first overseas acquisition by India's largest real estate company, which recently went public.

Sources close to developments said at $250 million, the deal is being concluded at an extremely conservative valuation. In addition to this payout, DLF will assume debt of approximately $220 million as part of the deal.

DLF, the country’s largest realty firm by market capitalisation at over Rs 1,48,527 crore, had announced a month ago that it intends to raise $750 million overseas for acquiring and developing properties abroad. Part of the proceeds would be used for funding the Amanresorts acquisition.

The $220 million debt will remain on the Amanresorts balance sheet and be paid off from its future revenues.

The 20-year-old Amanresorts has 18 operational properties under its belt in Indonesia, Cambodia, Sri Lanka, Morocco, Bhutan, India, the Philippines, the United States, French Polynesia and France.

All Amanresort properties have a room tariff of over $600 per night, giving it a hugely exclusive tag. Since very few of these properties have more than 50 or 60 rooms and villas, the chain functions on the lines of a lifestyle resort for the rich and famous.

Singapore-based Silverlink Holdings holds a majority stake in Amanresorts and will completely exit the company after the acquisition. It is believed that the founder, Adrian Zecha, will also move on from the chain after the takeover.

The acquisition also entails DLF taking over a prime property at Delhi’s Lodhi Road. Amanresorts had bought this property from the India Tourism Development Corporation five years ago for Rs 76.22 crore.

The old building has been demolished and a new one, currently under construction, should be operational in another six months.

Being developed as a super-luxury resort, room tariffs at the property are also expected to range between $600 and $700 per night, making it one of the most expensive hotel rooms in the country.

"DLF is getting an opportunity to gain access to the super-luxury hospitality market with this acquisition. The Aman brand name will continue even after the acquisition," said a company executive, who declined to be identified.

DLF forayed into hospitality last year. It has a 74:26 joint venture agreement with Hilton International for developing 50 to 75 properties in the long term.

DLF’s initial roll out plan in India includes eight to 10 luxury hotels (it has also tied up with the Four Seasons for a property overlooking the DLF Golf & Country Club at Gurgaon), 25 or 30 business hotels and 10 to 15 serviced apartments

Best wishes

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HAPPY DIWALI AND NEW YEAR

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Tips [ 09/11/2007]

TO 9.11.2007 MARKET TREND VERY VOLATILE AND BULLISH.

BUY NIFTY FUT TGT 7830+
BUY RNRL FUT TGT 165,175+ IN 2 DAYS

WE EARN MONEY IN ANY MOVEMENT BOTH UP & DOWNWARD OF SHARE MARKET. WE MAKE YOUR FUTURE BRIGHT THROUGH OUR PREDICTIONS.

Market Review for Muhurat Trading

The market has remained in a mixed state of mind, has come off its intra-day low and has finally ended the day in negative territory. Banks, Healthcare, IT, Realty, Tech, Capital Goods, Consumer Durables, Auto, Metals, Oil & PSU's have ended negative in varying degrees while FMCG has ended in positive territory. Volume registered a noticeable decrease (read as turnover) while the undertone seemed subdued.

Sensex (Daily)

Last Close - 19058.93 | Support -18883, 18327 | Resistance -19276, 19621

Trading Range - The Sensex opened at 19110.40, moved up to an intra-day high of 19209.91, declined to an intra-day low of 18917.40 and closed at 19058.93.

Review/Outlook - The Sensex has had a mixed trading session, has had a weak opening, has moved both ways, has received buying support at lower levels, has come off from its intra - day low and has finally ended in negative territory on clearly lower volume. Volatility can be the order of the day; an intra-day upside (seems like a distinct possibility) could come in above the 19081 level while resistance at higher levels (19301) � would limit the upside. The outlook has turned bullish again while resistance comes in at the 21200+ level and support comes in at the 18833 level.

Calls....[09/11/2007]

Buy:-


IFCI Future - 100-115-125 75 Diwali Gift Hold till Expiry

Calls....[08/11/2007]

BEST SELL

RPL (SELL) 216 (Target1) 210 ( Target 2) 205.4 (Sl) 229

RELAINCE COM (SELL) 720 (Target1) 714 ( Target 2) 708 (Sl) 733

RNRL (SELL) 147 (Target1) 141.3 ( Target 2) 135 (Sl) 161

Calls....[ 07/11/2007]

BEST BUY

RPL (BUY) 216 (Target1) 223 ( Target 2) 229.4 (Sl) 207

BIOCON (BUY) 574.35 (Target1) 580 ( Target 2) 585.6 (Sl) 568

PUNJ LLOYD (BUY) 507 (Target1) 516 ( Target 2) 527 (Sl) 490

Bindal agro sl 45 tr 48.35--50.40

DCB sl 111 tr 115.3--118.4

GMRinfra sl 188 tr 196.35--201.8

JPHYDRO sl 88 tr 94.45--98.10

Bongaigaoref sl 73.50 tr 77.15--79.80

Unitech sl 380 tr 398--409

Apil sl 949 tr 987--1015

GIPCL sl 115 tr 121.6--125.4

HDIL sl 695 tr 719.8--735

Apil sl 949 tr 987--1015

GIPCL sl 115 tr 121.6--125.4

HDIL sl 695 tr 719.8--735

Calls....[06/11/2007]

1 IFCI Future...----.....100-115-25.....76........Hold Till Expiry...( Given on 2-Nov )
2 ICICIBANK...Sell Below....1248....1230-1215-1200.....1272..........Premarket Intraday

Calls....[05/11/2007]

NIFTY: Support 5879/5860/5720
Resistance 6003/6012/6077/6128

BEST BUY

RCOM @ 786 SL 772 TGT 800-15-44

GMRINFRA @ 184 SL 182.90 TGT 187-92

TORRENT PPOWER @ 176.10 TGT 187-192 SL 173.90

BajajHind sl 185.4 tr 196--203

REL sl 1815 tr 1925--2000

PFC sl 235 tr 247--253.8

RELICANCE COMMUNICATIONS (BUY) 780-782 (Target1) 790 ( Target 2) 796 (Sl) 768

GITANJALI (BUY) 388-390 (Target1) 395 ( Target 2) 401 (Sl) 384

PUNJ LLOYD (BUY) 500 (Target1) 507.4 ( Target 2) 511 (Sl) 490

TATAPOWER

REL

Petronet

Calls...[12/10/2007]

Axisbank Sell below 746 targeting at 736-734-730 stop loss 753

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Calls...[12/10/2007]

NSE trading tips for 12 October 2007



MTNL

Close on 10 October 2007 -- 163

Target -- 173 in one week.

Stop loss closing price -- 158





M & M

Close - 817

Target - 891

Stop loss - 770





AIAENG

Close - 1339

Target - 1438 minimum

stop loss - 1284





VSNL(Strong Buy for medium term)

Close - 543.90

Target - 670 in 2-3 months

Stop Loss - 505



PRIME SECURITIES - STRONG BUY

CLOSE - 103.30

TARGET - 134 IN 3-4 WEEKS

STOP LOSS- 96

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Calls ...Continue [ 11/10/2007]

BUY

PeninLand sl 590 target 617--635

AxisBank sl 750 target 776--790

IDBI sl 142 target 150--154.55

Calls...[11/10/2007]

Buy.....BHARAT FORGE....Above 282.50...Targeting at 286-288....Stoploss at 278..

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Calls....[10/10/2007] continue...

BUY:
Balrampur Chini Above 72 Target 78+ Stoploss 65
Praj Ind Above 213 Target 220+ Stoploss 205
PFC @ CMP Target 218+ Stoploss 205
RPL @ CMP Target 167+ Stoploss 157

Other Stock To Watch: SBI, REL, RCom, DLF,RPL, Unitech, IFCI, RNRL, Sugar Sector.

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Calls...[10/10/2007]

Buy

CESC sl 543 tr 575--593

BajajHind sl 153 tr 164--171

MRPL sl 60 tr 64.45--68

IFCI sl 85 tr 91.7--96.8

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Calls...[9 -10 -2007]

Reliance Buy at any level Target 3000.

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Calls[Continue]...[08/10/2007]

S.No.......Company....Buy..Target...Stoploss......Remarks
1............TINPLATE......-....60-62.......52.50.....Premarket Intraday
2...........Reliance.........-....3000...........- .......In short term.

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Calls....[08/10/2007]

BEST BUY

RCOM (BUY) 640-642 (Target1) 649 ( Target 2) 655.6 (Sl) 632

POWER GRID (BUY) 96-98 (Target1) 103 ( Target 2) 107. (Sl) 91

GTL (BUY) 241 (Target1) 245.7 ( Target 2) 249.5 (Sl) 234

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Calls...[05/10/2007]

Company........Buy......Price.......SL........Target......

EssarOil.........Buy.......61.........58.50......65

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Calls...[04/10/2007]

Company...............Buy.........Target............Stoploss..........Remarks

FEDERAL BANK..Above 391....399-402.............385.........Premarket Intraday

ORBIT CORP..........-...............580................. - .............In Short Term

.

Today's Calls...[04/10/2007]

buy tata tele maha ltd. (TTML) cmp is 42.30 buy range 42-42.50 .

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calls [03/10/2007]

DELIVERY CALL........



Centurion Bank Of Punjab ....... Can Blast anytime....



Buy Price : 44-45



Target AT : 75-85



STPLOSS: 37.00



Hold for 3 months

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Calls for 1st Oct

BUY

Sobha sl 917 tr --939--962

Ansalinfra sl 280 tr 289--295.75

DLF sl 755 tr 784.75--806

MRPL sl 71.50 tr 75.50--78.40

Petronet sl 79 tr 83.50--86.35

Educomp sl 2778 tr 2860--2916

Voltamp sl 1212 tr 1275--1306

Abirlanuvo sl 1498 tr 1547---1569

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Market Forecast [01/10/2007]

"Market will be bullish from Monday 27 th Aug to 27 th Sept. then again
fall till First week of Nov. Thereafter market will start going up for
a year and scale new highs surpassing previous records. This is
astrological forecast."- message dt.24.8.07.

Now the party is over in my view.

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MARKETS STRIKE ALL TIME HIGHS - 24 SEP

The
market kept on advancing as the day progressed on steady buying demand for index
pivotals throughout the day, except for an hiccup in early trade. Turnover was
healthy today and it crossed Rs 7,500 crore on BSE. Both the niche indices BSE
Sensex and S&P CNX Nifty struck all time highs. Sensex is now eyeing 17,000 and
the S&P CNX Nifty is eyeing 5,000 mark.

European markets which opened after Indian market, were mixed. Asian markets
which opened before Indian market settled higher today, 24 September 2007. US
markets posted gains on Friday, 21 September 2007.

The
30-shares BSE Sensex was up 281.60 points or 1.70% to 16,845.83, an all time
closing high. It had opened on an upbeat note at 16,697.89 tracking firm global
cues. Its low for the day was at 16,599.66. It surged to an all time high of
16,869.64 in late trade. Sensex oscillated 268.98 points for the day

From
a recent low of 13,989.11 on 21 August 2007, Sensex has surged 2856.72 points or
20.42% in just 24 trading days to current 16,845.83.

The
S&P CNX Nifty was up 94.65 points or 1.96% to 4,932.20, an all time closing
high. It struck an all time high of 4,941.15. The Nifty September 2007 futures
settled at 4938, a premium of 5.80 points as compared to spot closing.

Despite solid rally in market, the market breadth was negative on BSE with 1454
shares declining as compared to 1302 that advanced. 51 remained unchanged. The
breadth was strong in opening trade.

The
BSE Mid-Cap index rose 1.53% to 7,309.84. It hit an all-time high of 7,321.02
today. BSE Small-Cap index gained 0.77% to 8,963.48. The index hit record high
of 9,013.35 today.

The
total turnover on BSE amounted to Rs 7,744 crore as compared to Rs 8,279.52
crore on Friday, 21 September 2007.

The
NSE’s F&O turnover amounted to Rs 79397.68 crore as compared to Rs 75928.77
crore on Friday, 21 September 2007.

All
the sectoral indices on BSE posted gains except the BSE IT index. BSE Realty
index (up 2.03% to 9,369.68), BSE Auto Index (up 2% at 5,297.26), BSE PSU index
(up 2.30% to 7,959.92), BSE Metal Index (up 1.70% at 13,030.47), BSE Capital
Goods Index (up 2.19% at 14,837.71), BSE Oil and Gas Index (up 3.33% at
9,651.17) outperformed the Sensex.

However BSE TecK index (up 0.09% to 3,641.41), BSE Consumer Durables index (up
0.17% to 4,756.01), BSE FMCG Index (up 0.03% at 2,153.57), BSE Health Care Index
(up 0.25% at 3,663.23), BSE Bankex (up 2.54% at 8,961.49) and BSE IT Index (down
1.77% at 4,349.83) were underperformers

Among
the 30-member Sensex pack, 25 advanced while the rest declined.

India’s top private sector utility company in terms of revenue Reliance Energy
(REL) surged 8.17% to Rs 1092.10 on 21.52 lakh shares. The stock hit all-time
high of Rs 1130.70 in intra-day trade. It was the top gainer from Sensex pack.
As per reports, the government cleared the two transmission line projects of REL
worth Rs 3,500-crore projects which includes the western region system
strengthening (WRSS) II and the Parbati-Koldam hydro projects in Himachal
Pradesh. These projects were delayed due to issues raised by the public-private
partnership appraisal committee (PPAC).

National Thermal Power Corporation, the country’s largest power generation
company by net sales jumped 4.96% to Rs 196.80 on 46.18 lakh shares. It replaced
Dabur India in the S&P CNX Nifty index from today.

India’s top small-car market by market share, Maruti Suzuki India galloped 7.47%
to Rs 999. Last week, Foreign Investment Promotion Board (FIPB) cleared Maruti's
proposal to form a joint venture for setting up an exhaust parts manufacturing
facility in Haryana with Japan's Futaba Industrial Company. Futaba will hold 51%
in the venture.

Bharti Airtel, India’s largest listed cellular services provider by market share
rose 2.52% to Rs 941.50. As per reports, it has got licence to start
Direct-To-Home (DTH) services in the country and announced an investment of Rs
150 crores in the first phase to launch nation-wide operations, a move that
would bring in much required competition in the DTH segment. Also another set of
reports state that Bharti Airtel may get extra spectrum for Delhi and Mumbai
under the existing subscriber-base norms.

India’s largest power equipment maker in terms of revenue Bhel gained 1.82% to
Rs 2002. It hit lifetime high of Rs 2025. As per recent reports, Bhel it is
looking at mergers and acquisition to fuel inorganic growth and it targeting a
turnover of Rs 45,000 crore by 2012.

Banking pivotals advanced on fresh buying. ICICI Bank (up 3.19% to Rs 996), HDFC
Bank (up 2.37% to Rs 1354.05), and State Bank of India (up 0.75% to Rs 1821.90),
edged higher.

India’s largest private sector entity by market capitalisation and oil refiner
Reliance Industries (RIL) rose 3.63% to Rs 2357 on 7.87 lakh shares. It hit an
all time high of Rs 2375 in intra-day trade. RIL said on Saturday, 22 September
2007 that it has struck oil in the deepwater block KG-D4 located in the Krishna
Basin. The commercial viability of the discovery is being evaluated. RIL holds
100% participating interest in this block, which spans over an area of 8100 sq.
kms. The rumors about RIL’s oil find had already hit the market on Friday, 21
September 2007.

India’s second largest telecom services provider market capitalisation Reliance
Communications jumped 3.26% to Rs 598.25 on high volumes of 38.27 lakh shares. A
block deal of 14.10 lakh shares was struck on at Rs 590 per share in early trade
on BSE.

Larsen & Toubro (L&T), the country’s second largest engineering & construction
company in terms of market capitalisation, soared 4.49% to Rs 2908. As per
recent reports, it is close to acquiring a stake in Feedback Ventures, a leading
integrated infrastructure services firm. The stock hit an all time high of Rs
2910 on BSE

IT
shares were weak throughout the day. India’s second largest software services
exporter Infosys Technologies was the top loser from Sensex pack. It slipped
3.30% to Rs 1761.90 on 2.83 lakh shares

Other
IT pivotals, Satyam Computers (down 2.76% to Rs 407.30), TCS (down 1.08% to Rs
1004), were not spared either.

ITC
(down 1.47% to Rs 188) and Grasim (down 0.07% to Rs 3445) were the other losers
from Sensex pack.

IFCI
was the top traded counter on BSE with turnover of Rs 531.37 crore followed by
Reliance Natural Resources (Rs 454.34 crore), Reliance Petroleum (Rs 368.57
crore), DLF (Rs 242.13 crore), and Reliance Energy (Rs 232.84 crore).

Reliance group stocks were in spotlight for second straight day on momentum
buying. Reliance Petroleum (up 8.10% to Rs 167.50), Reliance Natural Resources
(up 22.03% to Rs 93.60), Reliance Capital (up 1.90% to Rs 1571.25), Reliance
Industrial Infrastructure (up 10% to Rs 1147.40), Adlabs Films (up 1.12% to Rs
555) and IPCL (up 3.25% to Rs 465.50) surged.

Adhunik Metaliks jumped 6.40% at Rs 99 after its board approved acquiring a
majority stake in V Cube Forge (India) for an undisclosed amount. Pune-based V
Cube Forge manufactures forged and machined parts for automobiles, railways, and
aerospace.

IFCI
surged 19.32% to Rs 98.80 on huge volumes of 5.68 crore shares. Nearly 1.10
crore shares changed hands through multiple block deals on BSE and NSE combined.

IVRCL
Infrastructures & Projects slipped 1.25% to Rs 409.90. It received new orders
worth Rs 394.24 crore. The Pune region of the company has received these orders
for its building division and for power division.

Hindustan Petroleum Corporation was up 2.32% to Rs 256.10 on reports that
Lakshmi Mittal may buy a stake in the unit of the company, Prize Petroleum.

Tata
Tea rose 0.10% to Rs 785 on reports that the firm is in talks to buy UK-based
speciality tea company Liberty Tea. The move is aimed at expanding company’s
presence in the global beverages market. Unlisted Liberty Tea is a popular brand
in Europe.

Unitech advanced 3.90% to Rs 350.55 after it announced after trading hours on
Friday, 21 September 2007, that it would enter mobile telephone services in
services in 22 out of 23 circles of the country.

ING
Vysya Bank surged 7.17% to Rs 262.45 on reports that it is in talks with
Centurion Bank of Punjab and Kotak Mahindra Bank for acquisitions.

GAIL
soared 7.23% to Rs 375.75 on reports that it is considering an issue of bonus
shares to its equity stakeholders.

Hindustan Construction Company rose 2.37% to Rs 146.75, after the company said
its joint venture with Alphine Mayreder Bau GMBH and Samsung Corporation has
received a contract from Delhi Metro Rail Corporation, Delhi for design and
construction of two underground stations and tunnel between New Delhi station
and Talkatora Garden. The value of the order is worth Rs 774.64 crore. HCC's
share is the total value of the contract is 33% to Rs 255.63 crore.

Syndicate Bank moved up 1.83% to Rs 91.60 on reports that the state-run bank is
planning a follow-on public offer (FPO) during this fiscal year, subject to
regulatory approvals.

Aftek
rose 3.63% to Rs 77, after the company said Goldman Sachs Investments Mauritius
has acquired 20 lakh shares or a 2.29% in the company to raise its stake to
5.74%.

European markets which opened after Indian market, were mixed today, 24
September 2007. Key benchmark indices in France (up 0.12% to 5,707.67), and
United Kingdom (up 0.51% to 6,489.40) rose. However, Germany’s DAX was down
0.12% to 7,785.44

Asian
markets which opened before Indian market settled higher today, 24 September
2007. Hong Kong's Hang Seng (up 2.52% at 26,495.15), Shanghai Composite (up
0.56% to 5,485.03), and Singapore's Straits Times (up 2.73% at 3,639.02)
advanced. Stock markets in Japan, South Korea and Taiwan were closed for public
holidays.

US
stocks posted steady gains on Friday, 21 September 2007 capping a strong week
for Wall Street, as investors drew confidence from strong results at Oracle
Corp. and a continued sense that lower interest rates should help bolster the
economy. The Dow Jones industrial average rose 53.49, or 0.39%, to 13,820.19.
Broader stock indicators also rose. The Standard & Poor's 500 index advanced
7.00, or 0.46%, to 1,525.75, while the Nasdaq Composite index rose 16.93, or
0.64%, to 2,671.22.

Indian market may, however, turn volatile this week ahead of the expiry of
September 2007 futures & options (F&O) contracts on Thursday, 27 September 2007.

Crude
oil prices dipped on Monday, 24 September 2007 as oil and gas producers in the
Gulf of Mexico restored more output after a mild storm triggered evacuation and
production cuts. US crude for November delivery fell 22 cents to $81.40 a
barrel.

As
per the data released on Friday, 21 September 2007, inflation based on the
wholesale-price-index rose 3.32% for the week ended 8 September 2007 as against
3.52% in the previous week.

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[28/09/2007] Calls...:::Get the daily Market Review & Tips:

[28/09/2007] Calls...:::Get the daily Market Review & Tips:

[28/09/2007] Calls...

BEST BUY

TECH MAHINDRA (BUY) 1354 (Target1) 1363 ( Target 2) 1372 (Sl) 1321

GMR INFRA (BUY) 855 (Target1) 862 ( Target 2) 871 (Sl) 839

IFCI (BUY) 94.9 (Target1) 97 ( Target 2) 100.10 (Sl) 89

[26/09/2007] CALLS...

BEST BUY

CHAMBAL FERTILIZERS (BUY) 56.5 (Target1) 58 ( Target 2) 59.25 (Sl) 53

BALRAMPUR CHINI (BUY) 80 (Target1) 82.4 ( Target 2) 84.2 (Sl) 76

CINEMAX (BUY) 140 (Target1) 143 ( Target 2) 145.6 (Sl) 136

Sensex zooms to new peak, Nifty crosses 4,900

Closing

Mumbai: The benchmark Sensex shot up over 281 points on the Bombay Stock Exchange on buying by funds in heavyweight stocks such as Reliance Industries and Bharti Airtel.
The Sensex gained 281.60 points to close at 16,845.83, a level never seen before. It touched an intra-day high of 16,869.64 and a low of 16,599.66 points.
Similarly, the wide-based National Stock Exchange index Nifty spurted by 94.65 points to 4,932.20, after rising to 4,941.15 and dipping to 4,837.15 points.
Buying activity picked up on reports of the Hong Kong index Hang Sang crossing the 26,000-point level for the first time.


Afternoon update

Mumbai:The stock markets continued to remain bullish in afternoon trade, with the Sensex less than 250 points shy of the 17,000 mark. At 1:37pm, the benchmark 30-share index of the Bombay Stock Exchange was trading 198 points up at 16,762.
The Nifty was 89 short of the 5,000 mark, trading 74 points up at 4,911.

Morning

Mumbai: The stock markets continued their record-breaking spree with the benchmark Sensex touching a new peak of 16,820.53 within a few minutes of trade on 24 September, up by a whopping 256 points on the back of firm global cues and a slew of positive news.
The Bombay Stock Exchange (BSE) 30-share barometer opened with a wide upside gap at 16,697.89 from last Friday’s close of 16,564.23 and rallied further to a new intra-trade life-time peak of 16,820.53.

However, profit-taking pared early gains and it was quoted at 16,656.34 at 1030 hrs.
Similarly, the broad-based S&P CNX Nifty of the National Stock Exchange (NSE) logged a new intra-day high of 4,913.35, a rise of 75.80 over previous close of 4,837.55. It was quoted at 4,861.90 at 1030 hrs.

Top heavyweight Reliance Industries (RIL) remained the most favourite of the investing fraternity on news that the company has struck oil in D4 block of Krishna Godavari (KG) basin.
Banking counters also remained in the limelight on expectations of interest rate cut by the central bank in near future.

Most of the Asian indices were firm today in morning deal due to firm trend on Wall Street last Friday. The Dow Jones Industrial Average and the Nasdaq Composite Index rose by 53.49 points and 16.93 points respectively.

Market also got support from hectic short-coverings by operators and retail investors ahead of the expiry of September contract on September 27.

Dealers anticipated high volatility in next few sessions ahead of the expiry of September 2007 futures and options (F&O) contracts on Thursday.

Foreign Institutional Investors (FIIs) continued their buying in select blue-chip counters and pumped nearly Rs762 crore (provisional) on September 21, while domestic institutional investors (DIIs) were net sellers of shares worth Rs277.68 crore on the same day. FIIs have injected a whopping $2 billion in the current month so far.

Sustained fall in the inflation, which stood at 3.32% for the week ended September 8, 2007 from 3.52% in the previous week, also partly aided the bullish trend.

Last week, the benchmark Sensex registered its biggest weekly gain of 960.43 points or 6.16%.

INDIA WINS 20-20 WORLDCUP

INDIA WINS 20-20 WORLDCUP

India, Singapore set to open up banking

The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) are finally ready to open up the financial sector of their respective countries.
According to people intimately familiar with the development, both regulators are very close to reaching an “understanding”.

“It’s a sort of quid pro quo,” says one person, who didn’t want to be named. “MAS will offer the qualifying full bank (QFB) status to State Bank of India (SBI) and possibly to ICICI Bank as well. This will enable these two banks to raise retail deposits and open 25 centres in Singapore, including brick and mortar branches and ATMs. RBI, in turn, will allow DBS and other Singapore banks to open more branches.”
Greater presence: Singapore’s DBS Bank will be allowed to open more branches in India
Greater presence: Singapore’s DBS Bank will be allowed to open more branches in India
India’s central bank is also the banking regulator and MAS regulates the entire financial sector in Singapore, including capital markets .

MAS is asking for 15 branch licences for Singapore banks but RBI cannot offer so many at one go as, under World Trade Organization (WTO) norms, the Indian banking regulator is required to offer 12 new licences every year to all foreign banks. “RBI may offer six branch licences to DBS this year,” this same person said. According to him, a formal announcement will be made soon, certainly before the end of 2007.
“RBI and MAS are working closely to review the applications by banks to be set up or to expand in the respective jurisdiction. This will help enhance economic connectivity between India and Singapore. Once these details are settled, the appropriate announcements would be made,” an MAS spokesperson told Mint.

Since August 2005, when the Indo-Singapore Comprehensive Economic Cooperation Agreement (CECA) came into effect, trade between the two countries has increased significantly. Since the CECA came into being, two Indian banks—Bank of Baroda and Axis Bank—have been allowed to set up operations in Singapore. DBS, Singapore’s largest bank, too, has been granted one more branch licence in India, taking its network to two.

Under the CECA, both the governments have promised to open up the financial sector. Three Singapore banks are to be allowed to open 15 branches in India, while three Indian banks will be given the QFB status.

However, not a single Indian bank has yet got the QFB status as MAS has been insisting on “ratings” of Indian banks as a precondition to offer the status even though the treaty does not stipulate that.

MAS had taken an official stance that QFB licences could be given to those Indian banks that meet its “prudential requirements” and the CECA does not guarantee automatic entry. The insistence on prudential requirements is in conformity with the general principle under WTO and other free trade agreements (FTAs). Singapore has 10 FTAs in force.

[21/09/2007] Calls...

BEST SELL

DLF (SELL) 754 (Target1) 749 ( Target 2) 741 (Sl) 779.9

RELIANCE COM (SELL) 569.5 (Target1) 563 ( Target 2) 559 (Sl) 576

SHREE RENUKA (SELL) 686 (Target1) 679 ( Target 2) 675.4 (Sl) 696

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Sensex leads global rally with highest intra-day rise

Equity markets gained globally after US Fed cut its interest rate by 50 basis points; Nifty hits all-time high, too

Aday after one finance company warned that the US Federal
Reserve’s decision on Tuesday to cut the federal interest rate by 50
basis points could result in an investment bubble in emerging markets,
the Sensex, the benchmark index of the Bombay Stock Exchange rose over 653 points to close at 16323, its highest ever.

The
broader 50-stock index of the National Stock Exchange also rose, by
over 186 points to end at an all-time high of 4,732, but it was the
Sensex that was the biggest gainer
across global markets. Among emerging market indices, the
representative index of the Shanghai Stock Exchange was the only one to
fall on Wednesday, by 0.5%. All other indices gained between 1% and 4%.
The Sensex gained 4.2%.

The immediate trigger for the rally
on all markets was the Fed’s decision. Some analysts had predicted a 50
basis points cut in interest rates, but there was always the chance
that the Fed would play safe and go for a 25 basis points reduction.

On
Tuesday, following the Federal Reserve’s decision, the Dow Jones
Industrial Average, the key US index, closed at 13,739, up 336 points
or 2.5%. On Wednesday, the Dow was up another 90 points or 0.65%, at
9.15pm India time.

The Federal Reserve announced a half a
percentage point cut in its interest rates on federal funds, the first
in four years, easing the borrowing cost for banks in US that are now
expected to cut their prime lending rate. This boosted the spirit of
global investors worried over tightened credit in the wake of the
subprime crisis in the US.

The Sensex’s first brush with
16,000 comes at a time when finance firm Merrill Lynch has warned that
the Fed’s action has increased the risk of an investment bubble in
emerging markets (EM). “It is essentially 1998 in reverse; the credit
problem is now in the US rather than EM. Liquidity to ease the US
credit problem will be redirected towards EM just as liquidity to ease
the Asia/Russia problem was redirected towards technology (stocks),”
the firm said in a trading note to its clients.

Bond markets
around the world remained cautious, said Suyash Choudhary, a fund
manager with Standard Chartered Asset Management in India. Worries
about the exact fallout of the Fed’s action may have something to do
with it.

The Reserve Bank of India (RBI) may be under
pressure to intervene in the forex market to prevent the appreciation
of the rupee beyond its comfort zone, said Kaushal Sampat, chief
operating officer of Dun & Bradstreet in India. “The widened
interest rate differential between India and the US could result in a
further surge of capital inflows, leading to the appreciation of the
Indian currency. RBI could consider a cut in interest rates, given the
recent dip in the growth rate of industrial production and with the
inflation being at a 17-month low,” Sampat said.

The Fed’s
policy represents a departure from the traditional approach of
responding to backward-looking data more than forward-looking data,
said Ritesh Jain, a debt fund manager with Principal PNB Asset
Management Co. Pvt. Ltd.

Sandeep Nanda, executive
vice-president, research, Sharekhan Ltd, said he expects RBI to be
under greater pressure to cut interest rates. He added that sectors
such as banks, autos and metals that are cyclical and interest rate
sensitive, would perform well in the future.

The real estate
sector was the biggest gainer on BSE. DLF Ltd, the real estate major,
was the top traded counter on BSE with shares worth Rs255.19 crore
changing hands. Reliance Industries Ltd (RIL) and ICICI Bank Ltd
recorded a turnover of about Rs226 crore each. The market
capitalization of RIL, the largest weighted stock in Sensex, crossed
Rs3 trillion for the first time.

Oil and Natural Gas Corp.
and Reliance Energy, the two energy-related stocks in the Sensex,
gained significantly as crude oil prices topped a record $82
(Rs3,304.6) per barrel in Wednesday’s trade, with the Fed’s rate cut
heralding a possible recovery in the economy and higher demand for
energy.

All 30 stocks that constitute the Sensex registered
gains, with Housing Development Finance Corp. Ltd and HDFC Bank Ltd, up
about 8% each, gaining the most.

Other major gainers include Bharti Airtel Ltd and RIL—both the stocks added well over 5%.

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[20/09/2007] Calls...

BEST BUY


PYRAMID SAIMIRA (BUY) 338 (Target1) 342.3 ( Target 2) 347 (Sl) 326

BANK OF BARODA (BUY) 315 (Target1) 318.6 ( Target 2) 321 (Sl) 309

GATEWAY DISTRIPARKS (BUY) 138.45 (Target1) 142 ( Target 2) 144.65 (Sl) 134

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[19/09/2007]Calls...

BEST BUY


BANK OF INDIA (BUY) 251.4 (Target1) 254.3 ( Target 2) 257 (Sl) 246

PATNI (BUY) 452 (Target1) 457 ( Target 2)461 (Sl) 444

ROLTA (BUY) 455 (Target1) 461 ( Target 2) 465 (Sl) 438

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[17/09/2007] Calls...

BEST BUY

PYRAMID SAIMIRA (BUY) 327 (Target1) 331.4 ( Target 2) 334 (Sl) 321

ROLTA (BUY) 440 (Target1) 444.7 ( Target 2) 449 (Sl) 431

ESS DEE (BUY) 492 (Target1) 498 ( Target 2) 502 (Sl) 484

[14/09/2007] Calls...

BEST BUY


MPHASIS BFL (BUY) 293.05 (Target1) 296.8 ( Target 2) 299 (Sl) 287

PATNI COMP (BUY) 460 (Target1) 464.7 ( Target 2) 469 (Sl) 450

INDIABULLS (BUY) 551 (Target1) 557 ( Target 2) 563.4 (Sl) 538

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Markets in firm mood; Sensex closes 109 points up

Ends day at 15,548 after touching intra-day high of 15,650, on strong interest at Reliance counter; Nifty up 32 points at 4,529



The benchmark Sensex surged by over 109 points on the Bombay Stock Exchange on 13 September, on buying by funds in heavy-weight stocks in oil and gas, banking and realty segment.
The 30-share index, which experienced two straight sessions of losses, rebounded to close with a gain of 109.08 points at 15,614.44. It touched the day’s high of 15,650.14 and a low of 15,547.66 points.
Similarly, the wide-based National Stock Exchange index Nifty rose by 32.10 points at 4,528.95, after touching a high of 4,540.60 and a low of 4498.05 points.
The index-heaviest Reliance Industries surged by Rs13.55 at Rs2,026.50 on favourable corporate reports, and lifted the oil and gas segment index by 6.35 points at 11,924.63.
Realty index, led by Unitech Ltd, recorded the maximum gain with a 205.52 point surge at 7,847.86, followed by banking index by 102.17 points at 8,081.94. Bank scrips rose on expectation that the US Federal Reserve might cut interest rates next week.
The PSU index rose by 73.03 points at 7,396.63, auto sector index by 63.56 points at 4,939.34, capital goods index by 59.70 points at 13,723.88, IT index by 38.59 points at 4,482.57 and technology index by 22.14 points at 3,562.58.
Mid-morning
Mumbai: The benchmark Sensex recovered by over 97 points in early trade on the Bombay Stock Exchange on 13 September on revival of buying by funds encouraged by firm global trend.
The 30-share Sensex, which shed nearly 30 points at previous day’s closing, bounce by 97.29 points to touch 15,602.65 points in the first five minutes of trade on buying in reality and banking stocks.
BSE reality index shot by over 2% lead by stocks of Unitech Ltd.
Similarly, wide-base National Stock Exchanges’ Nifty rose by 19.95 points at 4,524.80 points.
Market sentiment turned bullish on heavy buying in fundamentally strong shares available at lower level amid firming trend in the global markets.

Sensex scores a ton

BSE 30-share benchmark Sensex gained 109 points to close at 15614. NSE Nifty ended 32 points higher to close at 4528.

Finally, bulls managed to find some direction after struggling for trend in previous trading sessions. The Realty and IT stocks led from the front. Others like Auto and banking followed suit. Further, rise in India’s six key industrial production coupled with positive close in markets across Asia provided vital support. India’s July production at six key industries rose 6.3%



Realty stocks were in momentum after inclusion of construction major Unitech in Nifty-50 on 5th October. IT stocks were in limelight on back of value buying in this sector.



The BSE 30-share benchmark Sensex gained 109 points to close at 15,620 hitting an intra-day high of 15,650 and a low of 15547. NSE Nifty ended 32 points higher to close at 4,528 touching an intra-day high of 4,540 and low of 4,498.



All Reliance group stocks hit the 52-week high levels except for Reliance Communication. Others like RIL, RNRL, REL, Reliance Capital and RPL were at the roof top. REL edged lower by 0.5% at Rs890; Reliance Capital surged by 5.5% to Rs14,000, Reliance Industries gained by 1% to Rs2027, RNRL gained 1.1% to Rs51 and RPL added 0.4% to Rs130.



Dr Reddy’s Lab slipped 1% to Rs641. The company announced that they have received USFDA approval for Ranitidine (Zantac). The scrip touched an intra-day high of Rs653 and a low of Rs639 and recorded volumes of over 1,00,000 shares on NSE.



Western India Shipyard was locked at 5% upper circuit to Rs18.90 after the company announced that it approved revival plan with ABG Shipyard. The scrip touched an intra-day high of Rs18.90 and a low of Rs18.90 and recorded volumes of over 1,00,000 shares on NSE.



Lupin gained by 2.5% to Rs610 after the company announced that they have won Ramipril product patent challenge at Federal circuit. The scrip touched an intra-day high of Rs615 and a low of Rs599 and recorded volumes of over 1,00,000 shares on NSE.



BPCL gained by 0.2% to Rs310 after the oil refiner and Videocon Industries Ltd would acquire stake in a Brazilian oil exploration company owned by Canada's EnCana Corp. The scrip touched an intra-day high of Rs316 and a low of Rs306 and recorded volumes of over 2,00,000 shares on NSE.



Banking stocks were in limelight after RBI’s Deputy Governor Leeladhar said that Indian Banks are not affected by US subprime. SBI gained by 3% to Rs1674, HDFC Bank advanced by 2.6% to Rs1213. However, ICICI Bank pared gains on back of profit booking. The scrip was down 0.2% at Rs884.



Realty stocks ended firm on back of gains in Unitech, which surged by over 7% to Rs280 after The National Stock Exchange (NSE) stated it would replace IPCL in the NIFTY with Unitech. This would be with effect from October 5. Mahindra Gesco edged higher by 7% to Rs563 and Parsvnath gained 1% to Rs322.



IT stocks were back in action after being on the side lines. Satyam Computer gained by 1.6% to Rs434, Wipro was up by 1% at Rs456, Infosys advanced by 1% to Rs1834 and Tech Mahindra surged by 2.1% to Rs1309.

calls for 13th

BUY

Selan sl 136.7--172.80--146.50

Unitech sl 259 tr 267--271.50

SRF sl 145.50 tr 151.50--154.35

RCF sl 54.20 tr 56--57.10

Triveni sl 86.40 tr 88.40--91.95

PTC sl 85.90--tr 89.20--91.40

HOCL sl 58.25--62--63.50

HTMTGlobal sl 412 tr 428--435

HindujaTMT sl 463 tr 585--500

ADSL sl 347 tr 360.8--371

BATA sl 174.80 tr 181.95--185.90

GNFC sl 142.25 tr 147.20--150


keep close watch on.. Advanta, Indiainfoline, Everon, Hindoilexp, ICRA, Naukri, REL, RELCAP, JPASSO

SELL ( HIGHLY RISKY)

HDIL sell near 580 sl 587 tr 572--566

Hanung sell near 167 sl 171 tr 164--161

IFB Agro sl 118 tr 114-111

Dollar slips to record low vs euro

The US currency declines for a sixth day, the longest losing streak since April, as investors bet the Federal Reserve will reduce its target interest rate
The dollar slid to a record low against the euro on Wednesday as global investors bet that the Federal Reserve will cut interest rates to lift global markets out of the current turmoil linked to the subprime mortgage losses. Any hike by Bernanke & Co. will narrow the interest rate gap between the US and Europe. Late on Tuesday, short-term interest rate futures signaled a perceived 67% chance of a 50-basis point cut in the fed funds target rate at the US central bank's Sept. 18 policy-setting meeting. The US currency declined for a sixth day, the longest losing streak since April, after the National Association of Realtors yesterday cut its home sales forecast, stoking concern that the housing slump is spreading to other parts of the US economy. The dollar fell to US$1.3887 per euro by 7:53 a.m. in New York, after earlier declining to an all-time low of US$1.3889. That compares with the previous low of US$1.3852 on July 24. The US currency is down more than 7% from its highest point this year, reached Jan. 12. The dollar also slipped to 113.83 yen from 114.27 yesterday, on speculation that Japanese investors will cut riskier overseas bond holdings after Prime Minister Shinzo Abe said he will resign. The dollar slumped to the lowest in more than a month versus the British pound and was recently little changed at US$2.0318. Against the Canadian dollar, the US currency held near the lowest since the end of July, at 96.13 US cents. It fell to the lowest since August 1995 versus Denmark's krone.

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Dull market ends slightly down

The 30-share Sensex closed lower by 37 points at 15505 and NSE Nifty closed flat at 4497.

The struggle for clear direction continued today on Dalal Street. As, markets failed to capitalize the gains on Wall Street, across Europe, Latin America and other emerging markets. In a range bound trading session, markets swung between gains and loses before ending slightly lower. Select index heavyweights like ICICI Bank, NTPC, ITC and L&T wer among the major loses dragging the key indices lower. While, RIL, REL and Bajaj Auto were among the notable gainers. Finally, the 30-share Sensex closed lower by 37 points at 15505 and NSE Nifty closed flat at 4497.


Essel Propack rallied by over 7% to Rs67 after reports stated that the Indian maker of laminated tubes and packaging plans to buy the packaging unit of Alcan Inc. The scrip has ouched an intra-day high of Rs69 and a low of Rs64 and recorded volumes of over 4,00,000 shares on NSE.


Reliance Industries edged higher by 1.5% to Rs2013 after reports stated that the world's largest polyester maker will pay $250mn to buy the assets of Hualon Corp. of Malaysia. The scrip touched an intra-day high of Rs2021 and a low of Rs1992 and recorded volumes of over 24,00,000 shares on NSE.


IDFC advanced by 1.4% to Rs134 as the RBI has increased the investment limit for FIIs in the companies. The scrip touched an intra-day high of Rs138 and a low of Rs133 and recorded volumes of over 57,00,000 shares on NSE.


Hanung Toys surged by above 6% to Rs164 amid reports that it has won a Rs6bn order from a Swedish company. The scrip touched an intra-day high of Rs167 and a low of Rs154 and recorded volumes of over 8,00,000 shares on NSE.


Pharma stocks were in poor health. Sun Pharma edged lower by 0.4% to Rs1006; Cipla was down by 1.4% to Rs174, Ranbaxy declined by 0.7% to Rs416 and Dr Reddy’s Lab edged lower by 0.5% to Rs647.


IT stocks ended lower as rupee continued strengthen against the USD. Satyam Computer slipped by 1.4% to Rs427, TCS was down by 1% to Rs1015, Rolta dropped by 4% to Rs480 and Mphasis declined by 3.2% to Rs282.


Realty stocks were in momentum. DLF gained by 2.7% to Rs635, Unitech advanced by 3% to Rs262 and Sobha was flat at Rs752.


Metal stocks continued to trade firm. Sterlite Industries gained by 2.3% to Rs624, Tata Steel gained by 0.5% to Rs711, JSW Steel advanced by 1.5% to Rs681 and Hindustan Zinc added 0.5% to Rs709.

[12/09/2007] Calls....

BEST BUY

SUN PHARMA (BUY) 1015 (Target1) 1024 ( Target 2) 1039 (Sl) 999

NAGARJUNA FERT (BUY) 43.9 (Target1) 44.7 ( Target 2) 45.6 (Sl) 42.9

INDIA CEMENTS (BUY) 270 (Target1) 274 ( Target 2) 277.4 (Sl) 266.8

Calls...[ 11/09/2007]

BEST BUY

PATNI COMP (BUY) 473.5 (Target1) 479 ( Target 2) 485 (Sl) 462

GSFC (BUY) 230 (Target1) 235.4 ( Target 2) 238 (Sl) 225

GITANJALI (BUY) 300 (Target1) 304 ( Target 2) 307 (Sl) 293

Bulls stage a comeback

The BSE 30-share benchmark Sensex gained 6 points to close at 15596. NSE Nifty ended flat at 4507.

After opening in deep red, markets bounced back. Bulls staged a smart comeback as Sensex recovered nearly 250 points and Nifty ended above the 4500mark recovering over 50 points from days low. Buying interest in Index heavyweights like Reliance Industries, ITC and SBI provided support to the key indices. Also positive opening from the European markets and recovery in the Hang Seng index in Asia lifted the sentiments.



All the key sectoral indices ended in green except for the IT sectors as strengthening rupee dragged the IT stocks lower. Even the Mid-Cap and the Smallcap stocks participated in the recovery.



Finally, BSE 30-share benchmark Sensex gained 6 points to close at 15596 hitting an intra-day high of 15626 and a low of 15363. NSE Nifty ended flat at 4507 touching an intra-day high of 4515 and low of 4452.



Bharti Airtel gained by 0.6% to Rs853 after the company secured license from Singapore to offer Global Connectivity. The scrip touched an intra-day high of Rs857 and a low of Rs835 and recorded volumes of over 6,00,000 shares on NSE.



Reliance Communication marginally slipped 0.3% to Rs543. The company announced that they have started blackberry Service in India. The scrip touched an intra-day high of Rs545 and a low of Rs534 and recorded volumes of over 26,00,000 shares on NSE.



Satyam Computer slipped by 1.5% to Rs442. The company announced that they would expand market in Europe and Asia Pacific. The scrip touched an intra-day high of Rs452 and a low of Rs438 and recorded volumes of over 25,00,000 shares on NSE.



Gammon India plunged over 8% to Rs420 after reports stated that a bridge collapsed in Hyderabad. Gammon India was the contractor of the bridge that crumbled. The scrip touched an intra-day high of Rs449 and a low of Rs402 and recorded volumes of over 20,00, 000 shares on NSE.



FMCG stocks ended higher led by gains in the index heavyweight, ITC advanced nearly by 4% to Rs184, Tata Tea was up by 2% to Rs775, McDowell gained 2.5% to Rs1581 and Nirma added 0.3% to Rs165.



Banking stocks also managed to stage a come back led by gains in the index heavyweights like SBI, the scrip was up by 1.3% to Rs1640, PNB gained by 0.8% to Rs493 and Union Bank added 1.1% to Rs147. However, ICICI Bank slipped by 1% to Rs910.



IT stocks were on the receiving end as Indian rupee yet again strengthened against the USD Satyam Computer slipped by 1.6% to Rs442, Wipro was down by 2.7% to Rs465, TCS slipped by 2.7% to Rs1047 and Infosys lost 2% to Rs1871.

Market may continue to witness volatility this week

Investors on Dalal Street may see volatility in the week ahead and will
wait for cues from the US markets, which might get a booster doze in
the form of interest rate cut from the Federal Reserve, analysts said.

The
benchmark BSE Sensex lost 168 points in the past week at 15,590.42
points on Friday. Meanwhile, US benchmark index Dow Jones Industrial
Average (DJIA) fell nearly 250 points to end at 13,113.38 points, while
Nasdaq-100 also closed down 49 points at 2,565.70 points.

The US
markets had declined after the jobs data came in far worse than
expected, threating to throw the economy into a recession. American
employers dismissed 4,000 workers last month, marking a sharp change of
direction from the 68,000 jobs that had been created in July.

In
a research note, global financial services major Citigroup expects US
Federal Reserve to lower interest rates by 75 basis points before the
end of the year, with the first cut coming on or even before the
scheduled meeting of Federal Open Market Committee on September 18.

"Our
global strategists have concluded that Fed cuts should be supportive
for equities performance, with non-US markets outperforming...
Instances of Fed rate cuts have been meaningfully positive for Indian
equities as well, especially on 12-24 month time horizons," Citigroup
analyst Ratnesh Kumar said in the India Equity Strategy report.

Even
in an extremely pessimistic scenario of a recession in the US, massive
rupee appreciation and sharp slowdown in domestic growth, Citigroup
does not see an earning collapse in India, "due to strong and
broad-based growth momentum in the Indian economy".

Besides,
Foreign Institutional Investors again embarked on a buying spree in the
equities market in September after a month of net sale in August. In
the first week of September, FIIs purchased equities worth Rs 2,869
crore and Rs 752 crore in the debt markets.

"The trend taken by the FIIs in the coming week could be crucial for the direction market takes," an analyst said.

Domestic
mutual funds were also net buyers worth Rs 353.80 crore in equity
market during four trading sessions from September 3 to September 6.

The
markets would also be watching the outcome of the negotiations between
the UPA government and its Left allies on the Indo-US nuclear deal.

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Intraday calls for 10 Sep

BEST BUY
Markets to open low on back of weak Global Cues , we expect recovery in the later part of the day ,
Buy NIIT Tech ,
Patni Computers ,
SAIL ,
IDBI during the panic selling for intraday gains

MARKET ABOVE 15600

The market scaled higher level as buying continued throughout the day,
except for the odd blip in early trade. Asian markets rebounded from
initial sluggishness while European stocks were trading mixed.

The BSE 30-share Sensex rose 170.16 points or 1.10% at 15,616.31. It
opened lower at 15,383.13 and slipped further to hit a low of 15,350.18
at the onset of the trading session due to the overnight fall in the US
stocks caused by weak US housing data.

However, it bounced
sharply from that level to hit a high of 15,637.74. At the day’s low of
15,350.18, the Sensex had lost 95.97 points for the day.

Sensex is now just 252.54 points away from its all time high of 15,868.85 hit on 24 July 2007.

The S&P CNX Nifty was up 42.75 points or 0.96% at 4,518.60. The
Nifty September 2007 futures settled at 4507, a discount of 11.60
points as compared to spot closing

The market breadth was
strong on BSE, with 1,698 shares advancing as compared to 1,050 that
declined, while 74 remained unchanged.

The total turnover on
BSE amounted to Rs 4646 crore as compared to Rs 5,167.23 crore on
Wednesday, 5 September 2007. The NSE F&O turnover was Rs 40927.51
crore as compared to Rs 42642.91 crore on Wednesday, 5 September 2007.

The BSE Mid-Cap Index rose 1.11% to 6,848.68 while the BSE Small-Cap
Index gained 1.28% to 8,395.58. Both these indices outperformed the
Sensex by small margin

All the sectoral indices on BSE settled
higher. BSE Consumer Durables index (up 1.09% to 4,497.19), BSE FMCG
Index (up 1.54% at 2,032.09), BSE PSU index (up 1.22% to 7,287.77), BSE
Oil and Gas Index (up 1.11% at 8,231.83), BSE Auto Index (up 1.24% at
4,937.54) and BSE Bankex (up 1.15% at 8,110.85), outperformed the
Sensex.

However, BSE Realty index (up 0.37% to 7,547.65), BSE
IT Index (up 0.41% at 4,665.46), BSE Metal Index (up 0.76% at
11,687.04), BSE TecK index (up 0.32% to 3,647.37), BSE Health Care
Index (up 0.50% at 3,717.03), BSE Capital Goods Index (up 0.68% at
13,658.66 ) were underperformers.

From the 30-member Sensex pack, 27 advanced while the rest declined.

India's largest private sector power utility company by sales Reliance
Energy advanced 4.91% to Rs 863.80 on 14.75 lakh shares. The stock
surged to an all time high of Rs 864.70. As per reports the firm is
planning to hive off its engineering, procurement and construction
division into a new company. It was the top gainer from the Sensex
pack.

Cement stocks held on to gains after opening firm on
healthy dispatches in August 2007. The AV Birla group diversified
company Grasim vaulted 4.25% to Rs 3186. It hit an all time high of Rs
3195

Other cement companies ACC (up 1.72% to Rs 1101), Ambuja
Cement (up 1.56% to Rs 140), India Cements (up 4.31% to Rs 274.60),
UltraTech Cement Company (up 1.68% to Rs 998), and Birla Corporation
(up 3.55% to Rs 317.95) also edged higher.

HDFC (up 3.79% to Rs 2131), and ITC (up 3.15% to Rs 176.50), were the other gainers from the Sensex pack.

Ranbaxy Laboratories, India’s top drug maker by sales, climbed 3.76% to
Rs 415, on a newspaper report that the drug maker had submitted an
initial bid for US-based Bradley Pharmaceuticals Inc

However
Dr. Reddy's Laboratories, India’s only drug maker listed in the US, was
down 0.05% to Rs 661.95. The company has received approval from the US
Food and Drug Administration for ulcer drug ranitidine hydrochloride
tablets.

State Bank of India (SBI), the nation’s largest
banking entity by net profit advanced 2.60% to Rs 1635.90. As per
reports, it will raise about Rs 1,500 crore through a bond issue this
week. The issue will be part of SBI's Tier II capital and the size of
core issue likely to be set at Rs 1,000 crore with over subscription
option of Rs 500 crore.

Auto shares also rose on renewed
buying. Tata Motors, India’s top auto firm by revenue, rose 2.06% to Rs
712.60. Hero Honda Motors (up 2.72% to Rs 652), Bajaj Auto (up 1.44% to
Rs 2340) and Maruti Udyog (up 0.57% to Rs 878) were the other gainers
from auto pack.

Mahindra & Mahindra, the country's top
utility vehicle manufacturer by sales edged higher by 1.84% to Rs 723
boosted by reports that it is looking to buy a design firm in Italy as
part of its plans to expand presence in the automotive space.

India's largest private sector entity by market capitalisation and oil
refiner Reliance Industries rose 1.51% to Rs 1987 on 5.05 lakh shares.
It recovered from day’s low of Rs 1948. RIL has completed acquisition
of Indian Petrochemicals Corporation (IPCL), a move that could help it
control two-thirds of the country's petrochemical market.

India’s largest FMCG firm by sales Hindustan Unilever (HUL) rose 1.91%
to Rs 216.50. As per reports, HUL will end a seven-week lockout on
Monday, 10 September 2007, at one of its factories at Assam after a
dispute with workers was resolved. The factory makes almost a third of
the company’s personal care products.

IT pivotals rose on late
buying. Wipro (up 1.21% to Rs 478.50), TCS (up 0.35% to Rs 1075),
Satyam Computers (up 0.78% to Rs 452) and Infosys (up 0.32% to Rs 1903)
edged higher.

India's largest aluminium producer by sales
Hindalco Industries was the top loser from the Sensex pack. It lost
1.37% to Rs 154.80 on 9.90 lakh shares.

India’s largest listed
cellular services provider in terms of profit, Bharti Airtel slipped
0.28% to Rs 846.60. As per recent reports, in the Karnataka circle,
Bharti Airtel cannot acquire any operator as it already has a 39.7%
market share. The 40% market share cap suggested by the

IVRCL
Infrastructures (Rs 132.64 crore), Reliance Energy (Rs 124.95 crore),
State Bank of India (Rs 104.89 crore), Indiabulls Financial Services
(Rs 103.93 crore) and GMR Infrastructures (Rs 102.34 crore) were among
the turnover toppers on BSE.

A lot of action was seen in 14
stocks that were included in the futures & options segment of NSE
effective today, 6 September 2007.

3i Infotech (up 0.34% to Rs
149), Aptech (up 5.99% to Rs 338.10), Bhushan Steel (up 1.13% to Rs
948.70), Biocon (up 0.87% to Rs 471.05), CMC (up 3.06% to Rs 1156.95),
Lakshmi Machine Works (up 9.56% to Rs 3205), NIIT Technologies (up
6.62% to Rs 365), Nucleus Software (up 0.63% to Rs 373), Sasken
Communications (up 1.21% to Rs 382), Tech Mahindra (up 3.31% to Rs
1329), and Yes Bank (up 3.43% to Rs 189.90) surged.

But
Welspun Gujarat Stahl Rhoren (down 5.77% to Rs 241), Tulip IT Services
(down 0.75% to Rs 921.10), and Havells India (down 1.56% to Rs 512.10)
edged lower.

Textile and apparel company Raymond was down
0.62% to Rs 273.10. It has reportedly entered the Rs 800-crore premium
women's western-wear market with the launch of ColorPlus Women. Raymond
will open 175 stores in the next three years to retail the range of
ColorPlus apparel.

Punj Lloyd rose 1.63% to Rs 296. As per
reports, the firm is planning a foray into defence equipment. It
proposes to produce guns, rockets, missile artillery systems and
related defence equipment and has applied for an industrial licence to
make these products. The licensing committee of the ministry of
commerce is expected to take a decision on this soon.

Color
Chips (India) slumped 3.12% to Rs 7.77 after the National Stock
Exchange said it had decided to suspend trading in the stock for
non-compliance of provisions of listing agreement. The stock will be
suspended from NSE after trading hours on 12 September 2007.

Saregama India jumped 10% to Rs 302.60. Sonata Investments acquired
10.58 lakh shares of the company at Rs 260 per share in a block deal on
Tuesday, 4 September 2007, on BSE. The stock has risen 21% in the past
two trading sessions.

Kernex Microsystem (India) gained 5% to
Rs 359.40 on recent rumors that it may bag a six-year long railways
contract worth Rs 2,000 crore in joint venture with Konkan Railways.

MSK Projects (India) rose 1.77% to Rs 100.40 after it received order
worth of Rs 76.45 crore from Madhya Pradesh Road Development
Corporation for execution of the Khandwa-Khargone (SH-26) road project.

Punjab Chemicals and Crop Protection soared 7.24% to Rs 155.50
on reports the firm is eyeing a 30% stake in US-based PSD Chemicals, a
privately-held firm in the US. Reportedly, the total deal size could be
around Rs 100 crore.

Gujarat Industries Power Company spurted
9.22% to Rs 7.40. Recently, its board approved expansion of its
lignite-fired power generating capacity at an investment of Rs 1300
crore by installing two units of 250 mega watts each.

iGate
Global Solutions flared up 6.16% to Rs 145.70. Yesterday (5 September
2007), Reliance Long Term Equity Fund bought 6.51 lakh shares of the
company via two bulk deals on the BSE.

Hindoostan Spinning
& Weaving Mills jumped 5% at Rs 56.10. It has spurted recently on
reports that the firm has sold 8 acres of its defunct mill located near
the Siddhivinayak temple at Prabhadevi, Mumbai, for Rs 350 crore to
Mumbai-based builder Akruti Nirman.

Networth Stock Broking
jumped 5% to Rs 99.80. The stock had risen 5% yesterday, 5 September
2007, on rumors that Hinduja Group is buying a majority stake in the
company. The company clarified after market on that day, that that the
company has been considering & contemplating proposal from
investors. However no firm decision has been taken by it, neither has
any arrangement was finalized.

Hindustan Dorr Oliver rose 2.22% to Rs 131 bagged a contract of Rs 77 crore from National Aluminium Company (Nalco)

Sical Logistics gained 4.86% to Rs 257 after Old Lane Mauritius IV
invested Rs 107 crore for a 26% stake in the company’s new unit, Sical
Infra Assets.

Escorts dropped 1.61% to Rs 103.85 after the
National Stock Exchange said after trading hours on Wednesday, 5
September 2007, it had barred fresh positions in the company's
derivatives contracts as the open interest had crossed the 95% limit

Drug maker Abbott India was up 0.78% to Rs 575. The stock came off the
session’s high of Rs 585. It said after trading hours on Wednesday, 5
September 2007, its board had approved buying back shares worth Rs
51.84 crore, at a price not exceeding Rs 650 per share.

KS
Oils surged 5.51%to Rs 71.75 after it said during trading hours on
Thursday, 6 September 2007, it plans to form a joint venture in
Malaysia to invest in palm plantations. The company will hold 49% in
the joint venture.

Hindustan Zinc rose 2.96% to Rs 724.10 even
it cut zinc prices by 3.7% to Rs 139200 per tonne, with ieffect from 6
September 2007. The company said lead prices were reduced by 6% to Rs
139100 a tonne.

Business directory publisher Infomedia India
gained 5% to Rs 256.45 on a newspaper report that said a clutch of
private equity firms were vying for ICICI Venture's 63% stake in it.

The European Central Bank kept interest rates unchanged at 4% in a meeting held today, 6 September 2007.

There are hopes that the US Federal Reserve will cut the fed funds rate
by at least a quarter percentage point on 18 September 2007.

European markets, which opened after the Indian markets, were trading
mixed today. Among key European indices, United Kingdom (down 0.11% to
6,253.50) and France (down 0.23% to 5,538.53) slipped while Germany's
DAX rose 0.34% to 7,613.93.

Asian markets rebounded from lower
levels today, 6 September 2007. Japan's Nikkei (up 0.61% at 16,257),
Taiwan's Taiwan Weighted (up 1.16% at 9,017.08), South Korea's Seoul
Composite (up 1.24% at 1,888.81) and Shanghai Composite (up 1.56% at
5,393.56) rose.

Hang Seng index was down marginally by 0.08% at 24,050.40

US markets finished lower yesterday, 5 September 2007, after weak US
housing data revived concerns about the health of the world's biggest
economy. The Dow Jones Industrial Average slipped 143.39 points, or
1.07%, at 13,305.47. Broader stock indicators also lost ground. The

Standard & Poor's 500 index fell 17.13 points, or 1.15%, to
1,472.29, and the Nasdaq Composite index fell 24.29 points, or 0.92%,
to 2,605.95.

Crude oil prices rose to $76 a barrel on
Thursday, 6 September 2007 buoyed by expectations that US crude and
gasoline inventories fell last week. US crude rose 33 cents to $76.06 a
barrel while London Brent crude was up 21 cents at $74.55 a barrel.

The National Stock Exchange said on Thursday, 6 September 2007, it will
extend trading timing by 45 minutes from 25 September 2007 to 9 October
2007 due to loss of satellite connectivity during this period. Trading
will close at 11:25 IST and re-open at 12:10 IST. The final closing
will be at 16:15 IST, instead of 15:30 IST.

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[07/09/2007] Calls...

SUGAR STOCKS TO BE IN LIMELIGHT BUY FOR 3-5 % GAINS IN SHORT TERM

BEST BUY

PATNI COMP (BUY) 483 (Target1) 488 ( Target 2) 493 (Sl) 471 [BOTH TARGET ACHIEVED]

CUMMINS (BUY) 400 (Target1) 403.8 ( Target 2) 408 (Sl) 391 [ TARGET 1 ACHIEVED]

GITANJALI (BUY) 300 (Target1) 304 ( Target 2) 307 (Sl) 293 [ TARGET 1 ACHIEVED]

[07/09/2007] Calls...

SUGAR STOCKS TO BE IN LIMELIGHT BUY FOR 3-5 % GAINS IN SHORT TERM

BEST BUY

PATNI COMP (BUY) 483 (Target1) 488 ( Target 2) 493 (Sl) 471

CUMMINS (BUY) 400 (Target1) 403.8 ( Target 2) 408 (Sl) 391

GITANJALI (BUY) 300 (Target1) 304 ( Target 2) 307 (Sl) 293

CLOSING...The momentum revives...

After
two days of lackluster trade, markets ended firm today with the
benchmark indices advancing by more than 1%. While buying was witnessed
in auto, banking, power, cement and software stocks, select pharma and
media stocks ended in the red. On the sectoral indices front, BSE FMCG
(up 1.5%) and the BSE Auto Index (up 1.2%) emerged as the key gainers.
As far as global markets are concerned, Asian markets ended mixed.
European indices too have opened on a cautious note.

The
BSE Sensex closed at 15,616 (up 170 points) while the NSE Nifty closed
at 4,519 (up 43 points). The rupee was trading at 40.92 to the dollar.

Amidst
weak global cues, the BSE Sensex opened with a negative gap of more
than 60 points (0.4%). However, the index soon pared its losses to
enter into the positive territory. Thereafter, the index proceeded to
trade higher for the rest of the trading session and finally closed
with a gain of 1.1%. The overall market breadth was positive with
gainers outnumbering the losers in the ratio of 4.6 to 1 on the Nifty.
Reliance Energy (up 5%), Grasim and Ranbaxy (each up 4%) were the key
gainers on the NSE.

Reliance
Energy is planning to hive off its engineering, procurement and
construction (EPC) division into a new company. REL is considering the
option to list the new company to raise funds for its projects. The EPC
division has an order backlog of Rs. 70 bn. The EPC division's revenue
was Rs 20.8 bn in FY07, almost a third of company's total revenue of Rs
65.8 bn. The EPC division has contributed about 8% of the net profit of
Rs. 8 bn of Reliance Energy. Reliance Energy (up 5%) along with its peer Tata Power (up 3%) closed firm today.

Pharma closed mixed today with Ranbaxy, Dabur Pharma (each up 3%) and Cipla (up 1%) leading the pack of gainers, while Matrix Labs (down 4%) and Divi's Lab (down
1%) closed in the red. As per a leading business daily, Ranbaxy has
completed the second phase of the clinical trials of a revolutionary
anti-malarial drug that could enable it to be the nation's first
pharmaceutical company to launch a New Chemical Entity (NCE) globally.
The company has just finished phase II clinical trials and is doing a
phase II for the combination of that product. If everything continues
to be successful, Ranbaxy will be able to launch the NCE in the market
by 2011. While two to three dozen new molecules are being developed for
cardiovascular, arthritis, diabetes and oncology, there have been just
two products launched in the last 30 years for malaria. Though the
market size is considered small the competition is not likely to be
intense.

As per a leading business daily, Mahindra and Mahindra
(M&M) is planning to acquire a design firm in Italy to upgrade its
skills. The company has been looking for overseas buys to expand its
business. It has also been reported to be eyeing Ford Motor's brands
Jaguar and Land Rover. Though details regarding the deal have not yet
been divulged, the move is part of company's global strategy to source
the best product. Further, its manufacturing unit in Chennai which is a
joint venture with French carmaker Renault and Japan's Nissan, would be
operational in two years. The companies had formed a JV to make cars
with an investment of Rs 40 bn. The plant would have a capacity of 0.4
m cars and utility vehicles and would make models of all three
partners, besides power train for Renault and Nissan. These ventures
would help the company develop new models and increase its presence.
M&M along with its peers Tata Motors and Ashok Leyland closed firm today (each up 2%).

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FIIs net buyers of Rs 311cr in cash market

Foreign institutional investors (FIIs) were net buyers of Rs 311.37
crore (provisional) today, according to data released by BSE.

While FIIs made gross purchases of Rs 2,275.51 crore, gross sales totalled Rs 1,964.14 crore.

Domestic
institutional investors (DIIs) were net sellers of Rs 8.26 crore
(provisional) today. While DIIs made gross purchases of Rs 841.01
crore, gross sales totalled Rs 849.27 crore.

FIIs were net
buyers of Rs 410.40 crore on Wednesday, September 5, according to data
released by Sebi today. While FIIs made gross purchases of Rs 2,703
crore, gross sales totalled Rs 2,292.70 crore.

Mutual funds
(MFs) were net buyers of Rs 67.40 crore on Wednesday. MFs made
purchases of Rs 548.80 crore and sales of Rs 481.40 crore.

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[06/09/2007] Calls...

BEST SELL


RELIANCE ENERGY (SELL) 818 (Target1) 812 ( Target 2) 808 (Sl) 833

RCOM (SELL) 535 (Target1) 529 ( Target 2) 525 (Sl) 546

JSW STEEL (SELL) 675 (Target1) 669 ( Target 2) 666 (Sl) 690

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[05/09/2007] Calls...

BEST BUY

LANCO INFRA (BUY) 297 (Target1) 301 ( Target 2) 303 (Sl) 290.1 [ACHIEVED]

IFCI (BUY) 70.8 (Target1) 72 ( Target 2)73.4 (Sl) 66

GITANJALI (BUY) 300 (Target1) 304 ( Target 2) 307 (Sl) 293 [ACHIEVED]

[04/09/2007] Calls...

BEST BUY

SAIL (BUY) 165.5 (Target1) 169 ( Target 2) 171 (Sl) 162

PARSVNATH (BUY) 310 (Target1) 314 ( Target 2) 318 (Sl) 304 [ACHIEVED]

JUPITER BIO (BUY) 188 (Target1) 191 ( Target 2) 195 (Sl) 184 [ACHIEVED]

Market Forecast for 04.09.07

The market opened positive but remained volatile throughout the day. The market seems to be tired and a further upmove can be seen in the coming days to come. I advise all traders to kindly book profits in every rise. However, positional buyers can stay long above 4385.


Today, market may open flat or positive with gap up attached with high volatility and remain long only above 4475 with SL 4460 for a tgt of 4495-4515. If it remains below 4475 keep short with SL 4490 for tgt 4450-4435. dont short blindly. Play with the mood of the market and mint money, Happy investing

[03/09/07] Calls...

BEST BUY

GMR INFRA (BUY) 810 (Target1) 818 ( Target 2) 825 (Sl) 796

PARSVNATH (BUY) 303.5 (Target1) 309 ( Target 2) 313 (Sl) 296

HFCL (BUY) 20.6 (Target1) 21.25 ( Target 2) 21.80 (Sl) 19

[TARGETS ACHIEVED]

[03/09/07] Calls...

BEST BUY

GMR INFRA (BUY) 810 (Target1) 818 ( Target 2) 825 (Sl) 796

PARSVNATH (BUY) 303.5 (Target1) 309 ( Target 2) 313 (Sl) 296

HFCL (BUY) 20.6 (Target1) 21.25 ( Target 2) 21.80 (Sl) 19

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Intraday calls for 31 Aug

BEST BUY

BANK OF INDIA (BUY) 238.45 (Target1) 241 ( Target 2) 244 (Sl) 232

MOSER BAER (BUY) 306 (Target1) 309 ( Target 2) 313 (Sl) 299

INDIABULS REAL EST (BUY) 472 (Target1) 477 ( Target 2) 482 (Sl) 459

GIPCL to set up two lignite-based power plants

Gujarat Industries Power Co Ltd (GIPCL) is proposing to expand its lignite-fired power generating capacity with an investment of Rs 1300 crore by installing two units of 250 MW each.

The estimated investment covers the plants at Nani Naroli, a small village about 45 km from Surat in south Gujarat, and lignite mine expansion.

Company sources said the project would be financed by debt and internal accruals. While the debt portion would be around 70 per cent, about Rs 400 crore would come from internal accruals.

The Vadodara-based company already has two 125 MW units of lignite-fired power plants in Nani Naroli. Bharat Heavy Electricals Ltd (BHEL) is executing two more units, both of which are to be completed by 2008.

For the new expansion project, the company had invited technical bids for the EPC contractor. The last date for submission of the bids was Aug 16.

The additional units of 250 MW will use the eco-friendly circulating fluidised bed combustion (CFBC) steam generators technology. The company has the option to up the installed capacity by 20 percent taking advantage of the new facility.

GIPCL was promoted by Gujarat Urja Vikas Nigam Ltd (GUVNL - erstwhile Gujarat Electricity Board), Gujarat State Fertilizers and Chemicals Ltd (GSFC), Gujarat Alkalies and Chemicals Ltd (GACL) and Petrofils Cooperatives Ltd.

It commissioned its first power project, a 145 MW gas-based combined cycle power plant, in February 1992 at Vadodara. Power from this plant is distributed to its promoters in proportion to their original equity holding.

The company expanded its capacity and commissioned a 160 MW naphtha and gas-based combined cycle power plant here in November 1997 as independent power producer (IPP) with a power purchase agreement (PPA) with GUVNL. Later it commissioned the 250 MW lignite-based power plant