Insider Trades:
Gujarat Ambuja Cement Ltd: A L Kapur (Director) has sold in open market 10325 equity shares of Gujarat Ambuja Cement Ltd on 11th February, 2007.
Avaya GlobalConnect Limited: Reliance Growth Fund - Schemes of Reliance Mutual Fund has purchased from open market 500000 equity shares of Avaya GlobalConnect Limited on 14th February, 2007.
Glenmark Pharmaceuticals Ltd: Gracias Saldanha, Director has purchased from open market 1500 equity shares of Glenmark Pharmaceuticals Ltd on 12th February, 2007.
Market Volumes:
The turnover on NSE was up by 12% to Rs100bn. BSE Consumer Durable index was the major gainer and gained 3.88%. BSE Technology index (up 3.71%), BSE Capital Good index (up 3.22%), BSE Metal index (up 3%) and Bank index (up 2.95%) were among the other major gainers.
Volume Toppers:
IFCI, IDFC, SAIL, House of Pearl Fashion, Cinemax India, TTML, Pochiraju Industries, R Com, TV Today, Arvind Mills, Hindalco, Nagarjuna Fertilizers, Bajaj Hindusthan, India Cements, Essar Oil, HLL, ITC and GBN.
Lower Circuit Filters:
Mangalam Cement, Rana Sugars, Unitech, 3M India, Goldiam International, Fedders Lloyd, Action Construction, Dawn Mills, Donear Industries, Electro Therm, Champagne Industries, Garware Offshore, Taneja Aerospace and McNally Bharat.
Delivery Delight:
ABB, ABG Shipyard, Adlabs Films, Arvind Mills, Bajaj Hindustan, Balrampur Chini, BHEL, Crompton Greaves, Dr Reddys Laboratories, HCL Technologies, IDFC, Jet Airways, L&T, M&M, NDTV, Praj Industries, Reliance Capital, Reliance Communications, Siemens, SRF, VSNL and Wipro.
Brokers Recommendation:
Wipro – Overweight from HSBC with target of Rs750.
Long Term Investment:
Voltamp Transformers.
Major News Headlines:
Inflation rises to 6.73% in week ended Feb 3 vs expectation of 6.58%
NTPC signs an agreement with BEML for coal venture
GSK Pharma Q4 net at Rs677.9mn (up 60%), revenues at Rs3.5bn (up 1.5%)
Hindustan Zinc raises Zinc price by 3.7% to Rs163,700 a ton and lead prices by 1.7% to Rs88,200 a ton
Indian Hotels to buy Four Season Hotels Los Angeles property for $200mn – Reports
VSNL sells broadband business to unit for Rs4bn
Subhash Projects signs MoU with Gujarat Government
Silverline Tech unit Millennium Care gets US contract
Alcatel-Lucent, ITI gets order for 2mn GSM lines from MTNL
Jain Irrigation to acquire Aquarius Brands Inc. for US$21.5mn
Indiabulls approves plan to separate broking business