Morning Notes

US markets were POSITIVE & Asian markets are trading POSITIVE.
Levels for NIFTY - support at 4229-4212-4198 & resistance at 4264-4291-4319.

Bias for markets is Positive for the day…

Possible target for NIFTY – 4280-4310

Coca-Cola Company has approved the purchase of vitamin water maker Glacèau for $4.2 billion in cash and coke stock due to this; Tata tea will make profit of Rs 247 per share but Tata tea has told that the sale proceeds will be used to acquire other companies.

ITC - Q4FY2007 net profit grew by 14.7% year on year (yoy) to Rs650 crore against market Expectation of Rs 678 Cr, which was below our expectations - At the current market price of Rs165, the stock is attractively quoting at 20.8x its FY2008E earnings per share

Sector Update – FMCG - The rising prices of vegetable oils has forced FMCG companies to effect price hikes across products.

We have introduced Aurobindo Pharma as new stock idea.

Results today: Asahi India, Dishman Pharma, HOV Services, IOC, Indraprashtha Gas, IVRCL infra, Jindal Stainless, M&M, Nagarjuna Construction, Rane Madras, Sagar Cement, Unitech

Stocks with +ve bias: M-phasis, Gail, R cap,

Stocks with short term Delivery: NTPC, Sesa Goa, HCL Tech, Essar Oil,

Stocks for investment: NIIT tech, JP Associates, Saregama, Infosys, Lupin, Thermax, Unichem Labs