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Monday, February 28, 2011

Daily News Roundup - Feb 28 2011


Reliance Industries Mukesh Ambani in talks with Japan’s Orix Corporation to acquire its 23.87% stake in IL&FS. (ET)

Hero Investments will pledge its shares in Hero Honda with institutional investors to raise about Rs35bn in short-term debt to buy Honda Motor’s stake in their joint venture. (ET)

Infosys faces tax, visa fraud charges in US. (ET)

Sensex ekes out slim gains...Nifty above 5300


The Indian markets kick started the March F&O series with smart gains even, as Mamata Banerjee's largely populist Railway Budget was countered by an upbeat Economic Survey. But, today's gains didn't come all that easy with the key indices turning highly volatile in the afternoon before finishing marginally higher.

Balancing sentiment


Deficits do not in themselves produce inflation, nor does a balanced budget assure a stable price level. - William Vickrey.

It is Budget Day again and disappointment should be less, as expectations are pretty low. India’s growth engine will continue to roll on at the current pace next year as well, but problem areas still persist. High inflation, a yawning fiscal gap, widening current account deficit, dwindling FDI, less-than-adequate infrastructure, policy logjam and corruption are among the critical ones.


Market may open flat to slightly lower; all eyes on the Budget


The market may open flat to slightly lower on weak Asian stocks. Union Budget 2011-2012 will set the tone for the market later in the day. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 3 points at the opening bell. As per provisional figures, foreign funds sold shares worth Rs 561.46 crore and domestic funds bought shares wroth Rs 555.29 crore on Friday, 25 February 2011.

SGX Nifty Live Update - Feb 28 2011


5,325.00 -3.00

Sunday, February 27, 2011

Andhra Bank


Andhra Bank

Infosys Technologies


Infosys Technologies

Kotak Mahindra Bank Ltd


Kotak Mahindra Bank Ltd

Thermax


A strong pace of execution in projects from steel and cement industries, comfortable order book, entry into utility power equipment and almost nil debt are all positives for energy and environment solutions provider Thermax.

Aurobindo Pharma


Aurobindo Pharma, on February 23, announced that the US FDA had imposed a ban on shipments from one of its unit; following which the stock tumbled 17 per cent. It has plummeted 26 per cent over last week accompanied with heavy volumes and is currently testing its significant long-term support band between Rs 155 and Rs 165.

Hitachi Home & Life Solutions


The stock of consumer durable maker, Hitachi Home & Life Solutions (India), is available at a price-to-earnings ratio of 14 times (trailing earnings) after a price correction of over 40 per cent in the last five months. We see this price correction as an overreaction from the market to the company's results that were below expectations in the last two quarters. The stock looks a good investment at the current market price of Rs 178.

Mahindra and Mahindra


During the last two years, the auto industry has had a dream run, thanks to the turnaround after the economic slowdown. Going forward, the industry faces headwinds in the form of high input prices, increasing interest rates and an expected moderation in volumes due to base effect and rising prices. On the other hand, there are no signs of weakness in demand, indicating that there may still be steam left before the industry growth peaks out.

Aban Offshore


Aban Offshore

Railway Budget


Railway Budget

Strides Arcolab


Strides Arcolab

Friday, February 25, 2011

Weekly Wrap - Feb 25 2011


Weekly Wrap - Feb 25 2011

Weekly Wrap - Feb 25 2011


Weekly Wrap - Feb 25 2011

Result Analysis - Mphasis


Result Analysis - Mphasis

Mphasis Limited


Mphasis Limited

Mphasis Ltd


Mphasis Ltd

Ranbaxy Labs


Ranbaxy Labs

Mphasis


Mphasis – Q1FY2011 results & conference call highlights – poor results, lack of disclosure and apathy of HP towards minority shareholders justify the sharp correction in the stock

BSE Bulk Deals to Watch - Feb 25 2011


Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
25/2/2011 507525 Amrit Corp ANANTROOP TRADING PVT LTD S 16200 227.31
25/2/2011 533163 Arss Infra Proj CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 80956 639.00

NSE Bulk Deals to Watch - Feb 25 2011


Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
25-FEB-2011,ARSSINFRA,ARSS Infra Proj. Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,81275,636.90,-
25-FEB-2011,JETAIRWAYS,Jet Airways (India) Ltd.,MLC-PLATINUM GLOBAL
FUND,BUY,481235,408.61,-

Budget to dictate near-term trend


Union Budget 2011-2012 to be presented by Finance Minister Pranab Mukherjee on Monday, 28 February 2011, remains a key near term trigger for the market. Fiscal consolidation, extent of infrastructure spending, clarity on key direct and indirect tax reforms viz. the Goods and Services Tax (GST) and the Direct Taxes Code (DTC), better targeting of subsidies are some important issues which investors are eyeing in the Budget. Stock specific/sector specific movement will be witnessed based on announcements for various sectors in the Budget.

Market slumps on surging crude oil


The market slumped last week as a flare-up in global oil prices and worries about its negative impact on the Indian economy rattled the equity market ahead of the Union Budget on Monday, 28 February 2011. India imports 80% of its crude needs, accounting for 3.5% of global consumption. The sharp rise in oil prices will likely add to economic stress in India at a time when the country is already battling high food inflation.

Market snaps three-day losses ahead of Budget


The key benchmark indices edged higher amid intense volatility, snapping last three days' losses, as the government's Economic Survey for 2011-11 tabled in the parliament noted that deepening the reform process would hold the key to sustaining the fiscal consolidation process. The BSE 30-share Sensex was up 68.50 points or 0.39%, off close to 120 points from the day's high and up close to 230 points from the day's low. The market recovered after hitting 2-week lows as government's forecast of a strong about 9% economic growth for the year ending March 2012 offset a populist rail budget where passenger fares were kept unchanged. Firm global stocks also supported Indian equities. All eyes are now on the Union Budget 2011-2012 to be presented by Finance Minister Pranab Mukherjee on Monday, 28 February 2011.

Market may open higher; Rail Budget in focus


The market may open higher, snapping recent losses if trading of S&P CNX Nifty futures on the Singapore stock exchange is of any indication. It indicate a gain of 18 points at the opening bell. Oil stabilized on Friday after a sharp reversal from a 2-1/2 year peak overnight, calming concerns that a surge in prices would hurt economic recovery. US crude oil futures for April 2011 were at $96.71 a barrel, down 57 cents, or 0.59%. As per provisional figures foreign funds sold shares worth Rs 2702.22 crore and domestic funds bought shares worth Rs 1029.92 crore on Thursday, 24 February 2011.

Daily News Roundup - Feb 25 2011


RIL and BP will shortly float a joint venture company over next months, which will look at the trading and marketing of natural gas in India. (BS)

Bajaj Auto on Thursday launched its 2011 edition of Discover 100. (ET)

RPower joins US$3.5bn race to buy out Australian coal mining company Whitehaven Coal. (BS)

RPower appears to be in the lead for the 3,000-MW long-term power purchase agreement called for by the Uttar Pradesh Power Corporation. (BL)

Tata Steel UK signed a definitive sale agreement to sell certain assets of TCP to Sahaviriya Steel Industries UK, a subsidiary of Thailand’s largest steel producer, for US$469mn. (BS)

NMDC is setting up a 300,000-tonne plant in Karnataka for making iron ore concentrate from iron ore waste with an investment of Rs1.5bn. (FE)

TCS has been appointed as the official technology partner to the pro-cycling team – Team Garmin-CervĂ©lo — for the racing season 2011. (BL)

SBI has decided to withdraw from the certificate of deposit (CD) market. (BS)

SBI has mopped up Rs39bn on the retail side through its latest bond issue. (BS)

Shipping Corporation of India is planning to invest US$1bn every year to acquire new ships. (BS)

IDFC plans to raise up to Rs21.7bn through long-term infrastructure bonds. (BS)

BEML may hive off one or two businesses, possibly rail and metro, in a corporate restructure it plans to roll out in fiscal 2012-13. (BL)

Gammon-OJSC Mosmetrostroy, a joint venture between Gammon India and Russian company OJSC Mosmetrostroy, has bagged two contracts worth Rs19.5bn for design and construction of seven underground stations and associated tunnels for Chennai Metro Rail. (FE)

Gammon India’s subsidiary Metropolitan Infrahousing has stepped in to buy the balance 45 acres owned by PAL-Peugeot in Dombivli on the outskirts of the city. (ET)

Fortis Global Healthcare said it has acquired a specialized under construction cancer hospital in Singapore from First Real Estate Investment Trust for a consideration of S$33mn. (BS)

Tech Mahindra has won an IT outsourcing contract from Vodafone for its Qatar operations. (BL)

Jubilant FoodWorks signed the agreement with the international arm of Dunkin’ Donuts. (BS)

Kingfisher Airlines has announced 11 new flights on its domestic routes and launched special complimentary offers ahead of the summer season. (BL)

Kotak Mahindra Bank hiked its base rate and BPLR by 50bps. (BL)

FDA ban to cost Aurobindo US$26mn. (FE)

Dishtv on Thursday said it has added over 1mn connections in the last three months, crossing the 10mn subscriber mark. (ET)

Uttam Galva has initiated the process to refinance about Rs14bn worth of debt to reduce interest payments and has mandated SBI Caps to carry out the programme. (ET)

Vijaya Bank will get a further capital infusion of Rs3.7bn from the Government by the fiscal-end. (BL)
Economy Snippets

The Budget estimate for the fiscal deficit for 2011-12 will be 4.8% of GDP. (BS)

Food inflation rose to 11.49% for the week ended February 12 from 11.05% in the previous week. (BS)

Exports from SEZs stood at Rs2.23tn in the April-December 2010 period, a rise of 47%, compared with Rs 1.52tn in the same period of the last financial year. (BS)

The Commerce Ministry has sought a Plan outlay of Rs20bn for itself in the Union Budget 2011-12, up from Rs16.8bn in 2010-11. (BL)

The South Asian Real Estate has announced Rs5bn residential township at Kolathur, GST Road, in Chennai. (BS)

Banglore to get an infrastructure development package of Rs47.7bn through various sources. (BS)

Exports from special economic zones during April-December this fiscal grew by 47% to Rs2,231bn over the same period last year. (FE)

Sensex slaughtered on heavy volume


It was a complete Blood-Bath on Dalal Street on Thursday, with the Indian equity indices plunged by over 3%, registering their biggest single-day fall since August 2009.

Today’s nasty fall was seen on record trading volumes, with the total market turnover crossed all time high. The F&O volume itself came close to the Rs. 3 Lakh crore mark on the expiry day. The steep fall was so swift that every pull back attempt was used for further selling.

C-rude shock indeed


"Blame someone else and get on with your life"- Alan Woods.

Just when the sentiment on the Indian bourses was improving we have been hit hard by a swift and a steep spike in crude oil amid worsening Middle-East turmoil. The crude shock has triggered fears of further uptick in inflation and interest rates. A bloated oil import bill also hits India’s external balance sheet and fiscal health.

SGX Nifty Live Update - Feb 25 2011


5,306.00 +19.00

Thursday, February 24, 2011

Telecom


Telecom

India Banks


India Banks

India Telecom Sector


India Telecom Sector

Pledged Shares List


SENSEX / NIFTY:
==============
COMPANY PLEDGED SHRS % OF PAID-UP LENDER
(IN MLN) EQUITY
.
Jaiprakash Associates 2.27 0.10 N.A.
Kotak Mahindra Bank 0.05 0.01 N.A.
Mahindra & Mahindra 12.20 2.11 N.A.
Sun Pharmaceutical Ind 2.20 0.21 N.A.
Suzlon Energy 600.10 33.76 N.A.
Tata Consultancy Services 222.10 11.35 N.A.
Tata Motors 44.00 8.69 N.A.
Tata Power Co 26.86 11.32 N.A.
.
.

India Oil and Gas


India Oil and Gas

ABB


ABB

ABB India


ABB India

Gujarat Pipavav Port


Gujarat Pipavav Port

Eros International


Eros International

Daily Market Outlook - Feb 25 2011


Daily Market Outlook - Feb 25 2011

Sensex tumbles to 2-week low as oil surges on unrest in Libya


Investors dumped stocks amid geopolitical tensions arising from crisis in Libya and on macroeconomic worries caused by a rally in crude oil prices, as the key benchmark indices nosedived to their lowest level in two weeks in a broad based sell-off. All the sectoral indices on BSE were in the red and the market breadth was quite weak. The BSE 30-share Sensex was down 545.92 points or 3%, up close to 75 points from the day's low and off close to 500 points from the day's high. The market fell for the third straight day today as the near-month February 2011 derivatives contracts expired. The BSE Sensex has lost 2,876.68 points or 14.02% in calendar 2011 so far.

BSE Bulk Deals to Watch - Feb 24 2011


Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
24/2/2011 533163 Arss Infra Proj CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 112496 666.39
24/2/2011 533163 Arss Infra Proj CROSSEAS CAPITAL SERVICES PRIVATE LIMITED S 111927 663.83

NSE Bulk Deals to Watch - Feb 24 2011


Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
24-FEB-2011,ARSSINFRA,ARSS Infra Proj. Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,112121,665.20,-
24-FEB-2011,AUROPHARMA,Aurobindo Pharma Ltd.,RELIANCE CAPITAL TRUSTEE CO. LTD A/C REGULAR SAVING FUND-REL,BUY,1500000,172.99,-
24-FEB-2011,HEXAWARE,Hexaware Technologies Lim,ADROIT FINANCIAL SERVICES PRIVATE LIMITED,BUY,955107,55.85,-

Wednesday, February 23, 2011

Reliance Industries Limited


Reliance Industries Limited

ONGC


ONGC

Reliance Industries


Reliance Industries

Budget Expectations


Budget Expectations

Welspun Corporation, Amara Raja


Welspun Corporation, Amara Raja

Tata Power


Tata Power

Lanco Infratech


Lanco Infratech

Budget Preview


Budget Preview

Infrastructure


Infrastructure

BSE Bulk Deals to Watch - Feb 23 2011


Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
23/2/2011 530901 ACIL KAMINI BHARAT TAKWANI B 915518 4.22
23/2/2011 530901 ACIL KAMINI BHARAT TAKWANI S 857683 4.16
23/2/2011 533163 Arss Infra Proj CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 75880 747.58

NSE Bulk Deals to Watch - Feb 23 2011


Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
23-FEB-2011,ARSSINFRA,ARSS Infra Proj. Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,77874,744.05,-
23-FEB-2011,BEDMUTHA,Bedmutha Indust Ltd,RAJ FINVEST,BUY,155603,105.98,-
23-FEB-2011,BEDMUTHA,Bedmutha Indust Ltd,RAJESH KUMAR GUPTA,BUY,15845,104.42,-
23-FEB-2011,COX&KINGS,Cox & Kings Limited,RELIANCE CAPITAL TRUSTEE CO. LTD-A/C RELIANCE REGULAR SAVING,BUY,1535500,375.00,-
23-FEB-2011,HEXAWARE,Hexaware Technologies Lim,WISDOMTREE TRUST A/C WISDOM TREE INDIA INVESTMENT PORTFOLIO,BUY,1100000,119.11,-
23-FEB-2011,JHS,JHS Svendgaard Laboratori,SUNIDHI SECURITIES & FINANCE LIMITED,BUY,87855,61.10,-
23-FEB-2011,KALINDEE,Kalindee Rail Nirman (Eng,SATYA PRAKASH CHAUDHARY HUF,BUY,152108,146.46,-
23-FEB-2011,MANINFRA,Man Infra Ltd,HEENA VORA,BUY,282708,170.57,-
23-FEB-2011,RBN,Reliance Brdct Ntwrk Ltd,JAI ANNANYA INVESTMENTS PRIVATE LIMITED,BUY,435000,70.11,-
23-FEB-2011,RIIL,Reliance Indl Infra Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,BUY,180966,727.82,-
23-FEB-2011,ARSSINFRA,ARSS Infra Proj. Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,77874,747.67,-
23-FEB-2011,BEDMUTHA,Bedmutha Indust Ltd,RAJ FINVEST,SELL,155603,105.29,-
23-FEB-2011,BEDMUTHA,Bedmutha Indust Ltd,RAJESH KUMAR GUPTA,SELL,146157,103.04,-
23-FEB-2011,COX&KINGS,Cox & Kings Limited,DEUTSCHE SECURITIES MAURITIUS LIMITED,SELL,583856,375.00,-
23-FEB-2011,COX&KINGS,Cox & Kings Limited,GOLDMAN SACHS INVESTMENTS MAURITIUS I LTD,SELL,1008000,375.18,-
23-FEB-2011,JHS,JHS Svendgaard Laboratori,MANISH KISHOR RUPAREL,SELL,238925,61.21,-
23-FEB-2011,KALINDEE,Kalindee Rail Nirman (Eng,SATYA PRAKASH CHAUDHARY HUF,SELL,152108,146.45,-
23-FEB-2011,MANINFRA,Man Infra Ltd,HEENA VORA,SELL,282708,169.74,-
23-FEB-2011,PUNJLLOYD,Punj Lloyd Limited,RARE INVESTMENTS,SELL,2650000,65.29,-
23-FEB-2011,RBN,Reliance Brdct Ntwrk Ltd,BAKLIWAL FINCOM PVT LTD,SELL,415498,70.11,-
23-FEB-2011,RIIL,Reliance Indl Infra Ltd,CROSSEAS CAPITAL SERVICES PVT. LTD.,SELL,180966,726.74,-

Market extends losses for the second straight day


The key benchmark indices fell for the second straight day as global stocks fell on continued unrest in Libya. US index futures gained. The BSE 30-share Sensex was down 117.83 points or 0.64%, off close to 200 points from the day's high and up close to 30 points from the day's low. The market breadth, indicating the health of the market, was negative.

FMCG Sector


FMCG Sector

India Strategy - Feb 23 2011


India Strategy - Feb 23 2011

India Strategy


India Strategy

Grey Market Premiums - SBI Bond Issue, Acropetal Technologies, Sudar Garments


Company Name

Offer Price

(Rs.)

Premium

(Rs.)

Kostak

(Rs. 1 Lac

Application)

Kostak

(Rs. 2 Lac

Application)

Sudar Garments

72 to 77

3.50 to 4

1000 to 1050

2100 to 2200

Acropetal Technologies

88 to 90

5 to 5.50

1150 to 1200

2300 to 2400

Fineotex Chemical

60 to 72

3 to 3.50

--

--

SBI (Bond Issue)

Rs. 10,000 to 5 Lac

--

3000 to 3100

6000 to 6200

Negative global cues to drag markets at start


Market sentiments are still shaky due to political turmoil leading global markets to fall. Owing to this, domestic indices are expected to start trade on a weak note

Headlines for the day:

World Bank pegs India growth at 8.5-9%

RIL may have to pay up to 30% tax on $7.2-bn BP deal

Sun Pharma to acquire Caraco's remaining stake

Precious metals continue to shine


Geo political tensions increase their appeal

Precious metals ended substantially higher on Tuesday, 22 February 2011 at Comex. Silver struck a new thirty-two year high. Both metals rallied as geo political tensions specially in the Middle East rocked the world. The same increased the appeal of precious metals as an alternate investment. Financial markets, including the New York Mercantile Exchange, were closed in observance of Presidents Day on Monday.

Market seen opening subdued on weak global cues


The market is likely to open lower tracking nervousness in world markets caused by continued political turmoil in Libya. US stocks declined sharply on Tuesday, 22 February 2011. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a fall of 27.50 points at the opening bell. Crude oil prices surged to the highest in more than two years in London on concern the Libyan turmoil may disrupt supplies. The near term market trend will be dictated by the expectations and announcements made in the Railway Budget and Union Budget 2011-12 scheduled on 25 and 28 February 2011, respectively.

Dish TV


Dish TV

TCS


TCS

Budget Preview - Feb 23 2011


Budget Preview - Feb 23 2011

Daily Market Outlook - Feb 23 2011


Daily Market Outlook - Feb 23 2011

Daily Market Outlook, Daily Technicals - Feb 23 2011


Daily Market Outlook, Daily Technicals - Feb 23 2011

Daily News Roundup - Feb 23 2011


L&T is in talks to supply nuclear equipment to Electricite de France. (ET)

Coal India has placed an order for two giant (91.7 tonne payload each) electric mining shovels with 17-year maintenance and repair contract worth Rs5.9bn to the US-based P&H Mining Equipment Inc. (BL)

Sensex succumbs to global sell-off


The Indian markets ended in the negative terrain, tracking weak cues from the international equity markets as the political turmoil in the Middle East continued to worsen, sending oil prices sharply higher. Also, Japanese shares fell after Moody’s cuts its outlook to negative from stable. Sentiment is also edgy ahead of the F&O expiry on Thursday and the Union Budget on Feb. 28.

Worried Wednesday in store


Nothing will ever be attempted, if all possible objections must be first overcome. -Samuel Johnson.

With risk appetite on the wane, investors are not really attempting to take any chances. Flight-to-safety seems to be the order of the day but the political strife in West Asia does not really make any place safe. Even as the pro-democracy wave rages, investors are now wondering what next after Libya?

SGX Nifty Live Update - Feb 23 2011


5,435.50 -40.50

Tuesday, February 22, 2011

Jain Irrigation


Jain Irrigation

ICICI Bank


ICICI Bank

BSE Bulk Deals to Watch - Feb 22 2011


Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/2/2011 531720 Alpha Graphic KALPESH KIRTIKUMAR SHAH B 40000 9.15
22/2/2011 531720 Alpha Graphic SONAL INTERNATIONAL LTD S 64170 9.10

NSE Bulk Deals to Watch - Feb 22 2011


Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-FEB-2011,ARSSINFRA,ARSS Infra Proj. Ltd,GARNET INTERNATIONAL LTD,BUY,88937,727.28,-
22-FEB-2011,HINDCOMPOS,Hindustan Composites Ltd,HINDUSTAN COMPOSITES LTD BUYBACK OF EQUITY SHARES ACCOUNT,BUY,41983,547.96,-

Research Calls - Feb 22 2011


Company

Actions

ALSTOM PROJECTS

Target Px increased to 537 by IIFL

ASIAN PAINTS LTD

Target Px increased to 2980 by JM Fin

BGR ENERGY SYS

Target Px decreased to 608 by Goldman S

BHARAT HEAVY ELE

Target Px increased to 2539 by IIFL

BHARAT HEAVY ELE

Target Px increased to 2432 by Goldma

BL KASHYAP&SONS

Target Px decreased to 24 by IIFL

CAIRN INDIA

Target Px increased to 400 by Deutsche Ban

COAL INDIA LTD

Target Px decreased to 322 by India Inf

CROMPTON GREAVES

Target Px decreased to 321 by Spark C

CROMPTON GREAVES

Target Px increased to 366 by Spark C

CUMMINS INDIA

Target Px decreased to 770 by Goldman Sa

GLAXOSMITHKLINE

Target Px increased to 2391 by HDFC Se

GLAXOSMITHKLINE

Coverage Initiated at Buy by Nomura

GLAXOSMITHKLINE

Target Px increased to 1985 by Credit

GLAXOSMITHKLINE

Target Px increased to 2121 by Morgan

GMR INFRASTRUCTU

Target Px decreased to 45 by Goldman

GVK POWER & INFR

Target Px decreased to 36 by Goldman

HINDALCO INDS

Coverage Initiated at In-line by Standar

HINDUSTAN CONST

Target Px decreased to 36 by IIFL

HINDUSTAN CONST

Target Px decreased to 41 by Goldman S

IL&FS TRANSPORTA

Target Px decreased to 277 by Goldman

INDUSIND BANK

Coverage Initiated at Outperform by Cred

IRB INFRASTRUCTU

Target Px decreased to 234 by Goldman

IVRCL INFRASTRUC

Target Px decreased to 93 by Goldman

JAIPRAKASH ASSOC

Target Px decreased to 106 by Goldman

JAIPRAKASH ASSOC

Target Px decreased to 123 by Morgan

JUBILANT FOODWOR

Coverage Initiated at Buy by Nomura

JYOTI STRUCTURES

Target Px decreased to 110 by Spark C

JYOTI STRUCTURES

Target Px increased to 145 by Spark C

KALPATARU POWER

Target Px decreased to 160 by Spark Ca

KALPATARU POWER

Target Px increased to 199 by Spark Ca

KEC INTL LTD

Target Px decreased to 107 by Spark Capit

KEC INTL LTD

Target Px increased to 595 by Spark Capit

LARSEN & TOUBRO

Upgraded to Buy/Neutral by Goldman Sac

MAHINDRA & MAHIN

Downgraded to Hold by Brics Securitie

MARICO LTD

Target Px decreased to 127 by MF Global Equ

MUNDRA PORT

Coverage Initiated at Buy by Antique Stock

NAGARJUNA CONST

Target Px decreased to 138 by Goldman

NATIONAL ALUMIN

Coverage Initiated at Underperform by

NESTLE INDIA LTD

Target Px increased to 3840 by India

NESTLE INDIA LTD

Target Px decreased to 3806 by Batliv

NESTLE INDIA LTD

Upgraded to Add by IIFL, TgPx

NESTLE INDIA LTD

Target Px increased to 3520 by JPMorg

NESTLE INDIA LTD

Upgraded to Neutral by Nomura

NESTLE INDIA LTD

Upgraded to Buy by Antique Stock Brok

NESTLE INDIA LTD

Target Px increased to 3350 by CLSA A

OIL & NATURAL GA

Upgraded to Buy by RBS, TgPx

PARSVNATH DEVEL

Target Px decreased to 36 by Elara Sec

PSL LTD

Target Px decreased to 130 by Quantum Securiti

PUNJ LLOYD LTD

Downgraded to Sell/Neutral by Goldman S

SHIV-VANI OIL &

Target Px decreased to 400 by Elara Se

SINTEX INDUS LTD

Target Px decreased to 202 by Goldman

STRIDES ARCOLAB

Coverage Initiated at Outperform by Ma

SUN TV NETWORK

Target Px decreased to 508 by Spark Cap

THERMAX LTD

Target Px decreased to 726 by Spark Capita

THERMAX LTD

Target Px increased to 835 by Spark Capita

THERMAX LTD

Target Px decreased to 740 by Goldman Sach

VOLTAMP TRANSFOR

Target Px decreased to 618 by Spark C

VOLTAMP TRANSFOR

Target Px increased to 819 by Spark C

VOLTAS LTD

Upgraded to Neutral/neutral by Goldman Sach

WIPRO LTD

Upgraded to Outperform by Credit Suisse, TgP

WIPRO LTD

Upgraded to Overweight by JPMorgan, TgPx

WIPRO LTD

Upgraded to Outperform by CLSA Asia Pacific

Asian markets witness bloodbath amid Middle East skirmish


Most indices end with steep losses, DOW futures down more than 100 points

Asian stocks dipped sharply today as poor week continued amid gyrating political tensions in the Middle East. Worries over the violent protests in Libya could lead to a further spread of the current public uprising in the Middle East region hurt the sentiments and stocks mostly ended with steep losses today. The US markets were closed yesterday on account of the Presidents' Day holiday but the DOW futures skidded intensely lower today, shedding more than 100 points and making it impossible for the indices in Asia to launch a late comeback as they did in the last session.

Most sectoral indices on BSE decline


The key benchmark indices edged lower in choppy trade as macroeconomic worries arising from surging crude oil prices and geopolitical tensions due to crisis in Libya weighed on the sentiment. Global stocks fell as investors were worried about the risk of the unrest in Libya spreading to bigger economies such as Saudi Arabia and China. Eleven out of 13 sectoral indices on BSE were in negative zone. The market breadth was weak. Capital goods, auto, banking and metal stocks witnessed selling pressure. The Nifty fell below the 5,500 level, having moved above and below that level alternatively in intraday trade.

Daily Grey Market Premiums - Feb 22 2011


Company Name

Offer Price

(Rs.)

Premium

(Rs.)

Sudar Garments

72 to 77

3.50 to 4

Acropetal Technologies

88 to 90

5 to 5.50

Fineotex Chemical

60 to 72

3 to 3.50