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Brokerage Recos |
Buzzing Stocks |
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Moneycontrol Top Headlines
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Motilal Oswal neutral on Unitech
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Motilal Oswal has maintained its neutral rating on Unitech. The stock trades at 1.9x FY11E adjusted BV of Rs 44/sh and at 1x its FY11E NAV of Rs 83/share.
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A step towards improved fiscal fitness: Religare
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Religare Hichens Harrison has come out with report on disinvestment in its report May 12, 2009.
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Moneycontrol Top Headlines
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SBI minting money
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SBI touched an intraday high of Rs 1,818.40 and an intraday low of Rs 1,740.05. At 2:46 pm, the share was quoting at Rs 1,815.70, up Rs 56.80, or 3.23%. It was trading with volumes of 460,864 shares. Yesterday the share closed down 1.17% or Rs 20.90 at Rs 1,758.90.
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Broader markets gain but rail stocks fail to rally
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Union Railway Minister Mamata Banerjee today presented the Railway Budget for 20092010. Fifty stations will be developed with world class facilities, this will be positive for companies like BEML, Texmaco and Kalindee Rail Nirman. The focus on railway safety will be positive for stocks like Integra Hindustan and Kernex Micro Systems.
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RNRL shoots up smartly
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RNRL touched an intraday high of Rs 90 and an intraday low of Rs 79.40. At 2:33 pm, the share was quoting at Rs 90, up Rs 8.85, or 10.91% on the NSE.
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Mahindra and Mahindra among major gainers
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At 2:07 pm, Mahindra and Mahindra was among major gainers on the Sensex. It touched an intraday high of Rs 736.20 and an intraday low of Rs 703. The share was quoting at Rs 734.50, up Rs 22.05, or 3.09%. It was trading with volumes of 195,974 shares. Yesterday the share closed down 0.27% or Rs 1.90 at Rs 712.45.
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Cipla in good health
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Cipla touched an intraday high of Rs 260 and an intraday low of Rs 246.25. At 2:03 pm, the share was quoting at Rs 256.50, up Rs 8, or 3.22%. It was trading with volumes of 139,332 shares. Yesterday the share closed up 1.41% or Rs 3.45 at Rs 248.50.
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Texmaco takes a dip
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Texmaco touched an intraday high of Rs 124.35 and an intraday low of Rs 115.15. At 1:12 pm, the share was quoting at Rs 115.85, down Rs 4.6, or 3.82%. Transport of food is positive for Texmaco as it supplies special bogies for the transport of food grains requiring weather protection, reports CNBCTV18.
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Jaiprakash Hydro gains smartly
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Jaiprakash HydroPower touched an intraday high of Rs 93.90 and an intraday low of Rs 88.80. At 1:07 pm, the share was quoting at Rs 92.90, up Rs 2.85, or 3.16%. It was trading with volumes of 6,057,223 shares. Yesterday the share closed down 0.94% or Rs 0.85 at Rs 90.05.
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Finolex Cables forges ahead
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Finolex Cables touched an intraday high of Rs 34.70 and an intraday low of Rs 31.75. At 12:55 pm, the share was quoting at Rs 34, up Rs 1.40, or 4.29%. It was trading with volumes of 85,519 shares. Yesterday the share closed up 1.40% or Rs 0.45 at Rs 32.60.
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Shriram Transport Finance soars high
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Shriram Transport Finance Corporation touched an intraday high of Rs 326 and an intraday low of Rs 287.40. At 12:50 pm, the share was quoting at Rs 318.20, up Rs 28.55, or 9.86%. It was trading with volumes of 74,069 shares. Yesterday the share closed down 2.23% or Rs 6.60 at Rs 289.65.
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BGR Energy moves up
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BGR Energy Systems touched an intraday high of Rs 346.90 and an intraday low of Rs 315. At 12:38 pm, the share was quoting at Rs 332.50, up Rs 10.75, or 3.34%. It was trading with volumes of 90,049 shares. Yesterday the share closed down 0.02% or Rs 0.05 at Rs 321.75.
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HDFC among major gainers
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At 12:34 pm, HDFC was among major gainers on the Nifty. It touched an intraday high of Rs 2,482 and an intraday low of Rs 2,366.70. The share was quoting at Rs 2,477.05, up Rs 72.35, or 3.01%.
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Century to develop mill land in Worli, stock up
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Century Textiles and Industries touched an intraday high of Rs 411.50 and an intraday low of Rs 389. At 12:27 pm, the share was quoting at Rs 404, up Rs 8.85, or 2.24%. The company is going to spend Rs 625 crore to develop mill land in Worli, quoting Business Standard, reports CNBCTV18.
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Kernex Micro takes a dip
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Kernex Microsystems (India) touched an intraday high of Rs 132.45 and an intraday low of Rs 125.30. At 12:21 pm, the share was quoting at Rs 126.50, down Rs 5.35, or 4.06%. It was trading with volumes of 61,676 shares. Yesterday the share closed up 2.17% or Rs 2.80 at Rs 131.85.
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Advanta makes smart moves
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Advanta touched an intraday high of Rs 699.90 and an intraday low of Rs 650. At 12:19 pm, the share was quoting at Rs 685.25, up Rs 38.80, or 6%. It was trading with volumes of 7,826 shares. Yesterday the share closed down 4.26% or Rs 28.75 at Rs 646.45.
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Hind Rectifiers back on track
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Hind Rectifiers touched an intraday high of Rs 66.80 and an intraday low of Rs 63. At 12:13 pm, the share was quoting at Rs 66, up Rs 4.30, or 6.97%. It was trading with volumes of 53,094 shares. Yesterday the share closed down 3.97% or Rs 2.55 at Rs 61.70.
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| Economy |
Market Reports |
Indian ADRs |
Moneycontrol Top Headlines
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What ails the National Rural Health Mission?
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Dr Srinath Reddy said the National Rural Health Mission needs far greater strengthening in terms of several of its components in order to yield the expected outcomes. “We require greater strengthening in terms of the human resources for health. We need more doctors, nurses, and auxiliary nurse midwives.”
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Budget only for 8 months but Pranab should go allout: ExFM
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Member of the opposition party BJP and former finance minister Yashwant Sinha said the Pranab Mukherjee should go allout in presenting the union budget and must not think it would be valid for only about eight months.
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Rail Budget:12 nonstop, pointtopoint trains introduced
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Railway Minister Mamata Banerjee presented a Budget with a range of schemes for passengers. Noteworthy among them is the introduction of twelve nonstop, pointtopoint trains between select cities.
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Economy to grow at 6.5%7% in FY10: C Rangarajan
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C Rangarajan, Former RBI Governor and Rajya Sabha MP, said the Indian economy had done well in the recent period. \"The economy would grow in the current year between 6.5% and 7%,\" he added.
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PM lauds Mamata for doing \'commendable job in short time\'
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Railway Minister Mamata Banerjee, who presented the Railway Budget 20082009 on Friday, has done a \'ighly competent job\'
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Highlights of the Railway Budget
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Highlights of Railway Budget for 200910
Need to have social view on rail projects
Committed to cause of underprivileged
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BEML, Titagarh cheer proposal for increased wagons
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Railway Minister Mamata Bannerjee presented the Railway Budget for 20092010 in Parliament today. She also said that the Indian railways planned to acquire 18,000 wagons in FY10. BEML, Titagarh and Texmaco would gain from this proposal of increased wagons.
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Railway Budget: No change in passenger fares, freight rates
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Railway Minister Mamata Bannerjee today presented the Railway Budget for 20092010. She has left passenger fares and freight tariffs unchanged. Tatkal fares have been reduced by Rs 100. Twelve nonstop services are to be introduced immediately.
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Fiscal deficit not as high as other countries: Montek Singh
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The economic survey released yesterday called for sweeping reforms and set out a disinvestment target of generating Rs 25,000 crore per year. On the rising fiscal deficit, Ahluwalia said he could guarantee that India’s deficit would not be as high as it is in some other countries.
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Mamata set to present propeople Rail Budget
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Amidst much speculation and expectations, Railways Minister Mamata Banerjee will present her third Railway Budget after a nineyear break on Friday. The Minister, it is believed
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Eco survey: Dream list or wishful thinking? Experts answer
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Can the government actually walk the talk when it comes to delivering the goods in the Union Budget 200910?
In an exclusive discussion on CNBCTV18, Atsi Sheth, Chief Economist, Reliance Equities; Jehangir Aziz, Chief Economist, JPMorgan; Ajit Ranade, Chief Economist, Aditya Birla Group; discuss.
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India\'s growth rate not to fall below 6.25%: Arvind Virmani
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Arvind Virmani, Chief Economic Advisor said India\'s growth rate should not be less than 6.25%. On the economic survey that was announced today, Virmani said, “I would say that if at the end of fiveyears perhaps let us say 50% of the things which are mentioned I would be very happy as somebody who wrote or led the team.\"
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Railway Budget on Friday; stocks start rallying ahead
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Will it be an allout populist budget cutting fares with abandon thanks again to the leeway provided by the profitability the railways earned over the last few years? Or will she concentrate on growth and take it from where her predecessor left off?
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Govt should focus on manufacturing sector: Bimal Jalan
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Bimal Jalan, Former RBI Governor said that the Indian economy today is much better than it was 36 months ago as there is return of confidence in the economy. Jalan said that India should not be so dependent on the services sector and the manufacturing segment is something that the Indian government should be promoting.
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India to grow at about 7% this fiscal: Ashok Chawla
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Ashok Chawla, Finance Secretary expects India growth to be close to 7%. \"We cannot predict with full certainty what that number will be,\" he said.
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Moneycontrol Top Headlines
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Mkts close strong ahead of budget; financials, infra lead
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The benchmark indices saw smart rally in the last one and half hours of the trade. They closed the last session, before the Union Budget on Monday, on a strong note. The Nifty crossed the 4400 mark successfully while the Sensex was inching towards the 15,000 mark but that did not happen.
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Mkts close 1% higher this week; banks, oil gas gain
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The markets saw consolidation this week, as investors and traders looked cautious, ahead of budget on Monday. The Sensex and Nifty closed one percent higher at 14,913.05 and 4,424.25, respectively this week.
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Nifty above 4400; financials, infrastructure, metals up
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At 14:45 hours IST the benchmark indices extended gains on the back of huge rally in financials, infrastructure and metal stocks. The 50share NSE Nifty has surpassed the 4400 mark but on low volumes. The market breadth also improved a bit; About 647 shares advanced while 569 shares declined on the NSE.
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Mkts gain strength led by cap good, power, banks, pharma
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At 14:10 hours IST, the markets gained some more strength on the back of buying in banking (barring HDFC Bank), power, capital goods, select metal stocks along with Bharti Airtel. The Nifty was inching towards the 4400 mark.
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Mkts northbound amid choppy trade; financials lead
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At 13:05 hours IST the markets were seeing some choppiness, ahead of the Union Budget. Buying in power, capital goods, banking, pharma stocks along with Bharti and HDFC was helping the benchmark indices.
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Mkts positive; infrastructure, pharma, PSU banks lead
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At 11:51 hours IST, the benchmark indices were volatile in trade. Capital Goods, power, pharma, PSU banking and metal stocks along with Bharti and HDFC were witnessing buying interest. Reliance Industries was volatile.
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Mkts extremely volatile; power, capital goods, pharma gain
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At 10:42 hours IST, the benchmark indices were witnessing huge volatility, as investors and traders looked cautious ahead of the Union Budget on Monday. Both the indices were hovering around their previous closing values.
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Mkts volatile in early trade; metals, realty decline
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The markets slipped in the early trade following weak global cues. However, they managed to recover a bit and were trading with extreme volatility. Metal, realty and select technology stocks were under pressure. However, select infrastructure stocks were the gainers.
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Mkts sceptical about Economic Survey promises, end flat
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The benchmark indices closed flat, after trading extremely volatile throughout the session today, ahead of the railway budget on July 3.
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Mkts extremely choppy; telecom, cap goods, banks slip
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At 14:27 hours IST the volatility continued though the benchmark indices were trading lower on the back of selling in capital goods, auto, technology, banking, telecom along with big heavyweight Reliance Industries.
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Nifty tests 4300 on Eco Survey, weak European cues
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At 13:11 hours IST the selloff in capital goods, banking, technology, telecom, realty, auto and private power counters along with Reliance Industries, was putting pressure on the benchmark indices. Downtrend in European markets, which fell 11.8%, was also adding more pressure.
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Economic Survey fails to cheer mkts; RIL, Bharti, SBI dip
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At 12:22 hours IST, the Economic Survey did not cheer the markets. Both the indices were choppy in trade and continued to hover around their previous closing values.
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Mkts rangebound; oil gas, metals, PSU power rise
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At 11:39 hours IST the benchmark indices were hovering at their previous closing values. Buying in metal, oil gas (barring Reliance Industries) and PSU power stocks was helping the markets to stay on the higher side.
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Mkts witness volatility; tech, banks, capital goods decline
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At 10:41 hours IST the markets continued to trade with extreme volatility. Metal, oil gas (barring Reliance Industries), pharma stocks along with HDFC, NTPC and Idea were seeing buying interest.
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Mkts choppy in early trade; ONGC, oil mkting cos surge
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The benchmark indices started the day on a positive note led by ONGC and shares of oil marketing companies. But they immediately turned volatile. Education stocks continued to gain.
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Moneycontrol Top Headlines
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Indian ADRs: Infosys, Patni, Tata Motors down
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Indian ADRs ended in red on Thursday. In the IT space, Infosys was down 3% at $ 36.21, Patni Computers was down 3.07% at $ 10.75 while Satyam Computers was up 2.77% at $ 3.34 and Wipro ended up 0.43% at $ 11.75.
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Indian ADRs: Satyam 4.5%, ICICI Bank 4%
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Indian ADRs ended in green on Wednesday. In the banking space, ICICI Bank was up 4.17% at $ 30.73 and HDFC Bank was up 0.96% at $ 104.12. In the telecom space, Tata Communication was up 2.95% at $ 20.24 and MTNL was up 1.61% at $ 4.41.
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Indian ADRs: Tata Motors slips 9.3%, Sterlite down 5.5%
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Indian ADRs plunged on Tuesday following a slump in Wall Street. In the IT space, Satyam Computers was down 4.6% at $ 3.11, Infosys was down 1.24% at $ 36.78, Wipro was down 0.42% at $ 11.8 and Patni Computers was down 0.36% at $ 10.96.
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Indian ADRs: MTNL up 7.6%, Patni rises 3.2%
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Indian ADRs ended mixed on Monday. In the telecom space, MTNL was up 7.62% at $ 4.38 and Tata Communication was up 0.62% at $ 19.62. In the banking space, ICICI Bank was down 0.29% at $ 30.8 and HDFC Bank was down 0.53% at $ 105.37.
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Indian ADRs: HDFC Bank up 5.93%, Sterlite rises 5.48
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Indian ADRs ended higher on Friday. In the banking space, ICICI Bank was up 4.46% at $ 3089 and HDFC Bank was up 5.93% at $ 105.93. In the IT space, Patni Computers was down 2.20% at $ 10.65, Wipro was up 3.75% at $ 11.89, Infosys was up 2.67% at $ 37.66 while Satyam Computers was down 3.59% at $ 3.22.
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Indian ADRs: ICICI Bank gains 5%, Patni up 4.5%
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Indian ADRs ended mostly higher on Thursday. In the banking space, ICICI Bank was up 5.16% at $ 29.57 and HDFC Bank was up 3.12% at $ 100. In the IT space, Patni Computers was up 4.51% at $ 10.89, Wipro was up 3.15% at $ 11.46, Infosys was up 1.49% at $ 36.68 while Satyam Computers was down 1.18% at $ 3.34.
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Indian ADRs: Tata Motors, Satyam up 4%
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Indian ADRs ended higher on Wednesday. In the IT space, Satyam Computers was up 4% at $ 3.38, Wipro was up 3.64% at $ 11.11, Infosys was up 1.89% at $ 36.14 and Patni Computers was up 0.68% at $ 10.42.
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Skindia GDR Index signals stronger market opening
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The main gainers were Ranbaxy Labs (+4.32%), Reliance (+4.22%) and Sterlite Industries (+3.67%) and the main losers were Mahindra Mahindra (7.36%) and L T (0.79%).
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Indian ADRs: MTNL up 4%, HDFC Bank down 3.2%
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Indian ADRs ended mixed on Tuesday. However, gainers outnumbered the losers. In the telecom space, MTNL was up 3.99% at $ 3.91 and Tata Communication was up 1.74% at $ 18.17.
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Indian ADRs: Satyam slips 10.6%, Tata Comm down 7%
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Indian ADRs ended lower on Monday. In the IT space, Satyam Computers was down 10.68% at $ 3.26, Wipro was down 6.08% at $ 10.66, Infosys was down 2.99% at $ 35.07 while Patni Computers remained unchanged. In the banking space, HDFC Bank was down 7.04% at $ 97.06 and ICICI Bank was down 5.46% at $ 28.2.
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Indian ADRs: ICICI Bank up 3%, MTNL down 13.6%
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Indian ADRs: ICICI Bank, HDFC Bank, Tata Motors, Infosys, Satyam, Patni and Tata Comm gained, while MTNL and Wipro slipped.
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Indian ADRs: MTNL down 6.7%, Tata Motors up 4%
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Indian ADRs: MTNL, ICICI Bank, Tata Comm, Sterlite, Patni and Wipro slipped, while Tata Mootrs, Dr Reddys, HDFC Bank and Infosys gained.
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Indian ADRs: Satyam down 8%, Tata Motors slips 3.8%
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Indian ADRs: Satyam, Tata Motors, Sterlite, HDFC Bank, Tata Comm and ICICI Bank fell, while Dr Reddys, Infosys, Patni and MTNL gained.
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Indian ADRs: Patni down 4.3%, Satyam up 14%
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Indian ADRs: Patni, Wipro, Sterlite, Infosys, Dr Reddys, Tata Motors and MTNl sliped, while Satyam, Tata Comm, HDFC Bank and ICICI Bank gained.
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Indian ADRs: Sterlite down 10%, Tata Motors slips 7%
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Indian ADRs: Sterlite, Tata Motors, Satyam, Tata Comm, ICICI Bank, HDFC Bank, Infosys, Wipro and MTNL plunged, while Patni and Dr Reddys gained.
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| Global Markets |
Market Edge |
Market Outlook |
Moneycontrol Top Headlines
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Wall Street ends lower
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Certainly no fireworks on Wall Street ahead of the July 4, American Independence day holiday because of a small technical problem during the day the NYSE took a very unusual step of closing 15 minutes late on Thursday but that extra trading time did not change the direction of the markets.
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US mkts slip on disappointing jobs data; Dow down 223pts
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The US markets cracked on disappointing jobs data. The benchmark indices slumped nearly three percent each. The SP 500 slipped 2.9% below the psychologically significant 900 level in the final halfhour of trade. The Dow Jones plunged 223.32 points, or 2.6%, to 8,280.74.
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US markets open lower; Dow down 133 points
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At 19.03 hrs (IST) The US markets opened lower. The Dow Jones Industrial Average was down 133.09 points, or 1.57%, to 8,370.97. The Nasdaq was down 33.13 points, or 1.79%, to 1,812.59 while the SP 500 was down 15.50 points, or 1.68% to 907.83.
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Wall Street ends with moderate gain; Dow up 57 points
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US markets shut in the green but off highs after a barrage of economic reports. In economic news, the June ISM manufacturing index rose to 44.8 from 42.8 in May, slightly higher than expected. The Dow gained 57.06 points, or 0.7%, to 8,504.06.
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US markets open higher; Dow up 59 points
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At 19.04 hrs (IST) The US markets opened higher. The Dow Jones Industrial Average was up 58.80 points, or 0.70%, to 8,505.80. The Nasdaq was up 12.03 points, or 0.66%, to 1,847.07 while the SP 500 was up 4.98 points, or 0.54% to 924.30.
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US markets end lower
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US Stock posting losses on Wall Street today, the Dow dropping 82 points, the SP 500 loosing nearly 8 points and Nasdaq down 9 points.
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Wall Street declines; Dow ends down 82 points
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Though the Wall Street concluded Tuesday session with broadbased losses, it delivered the best quarter since 1998. However, Tuesday trade ended on a sour note as consumer confidence and expectations readings disappointed. The Dow slipped 82.38 points, or 1%, to 8,447.
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US markets open higher; Dow up 11 points
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At 19.05 hrs (IST) The US markets opened higher. The Dow Jones Industrial Average was up 10.88 points, or 0.13%, to 8,540.26. The Nasdaq was up 8.90 points, or 0.48%, to 1,852.96 while the SP 500 was up 1.03 points, or 0.11% to 928.26.
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US markets end higher
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The stocks ending the day higher on Wall Street; the Dow adding 91 points, the Nasdaq up 6 points and SP 500 up 8 points.
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Wall Street ends higher; Dow up 91 points
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The Wall Street ended in the green on broad based buying, there were no real triggers. Convicted ponzi swindler Bernie Madoff was sentenced to 150 years in federal prison and oil topped 71 dollars a barrel. The CBOE volatility index also dropped. The CBOE volatility index also dropped. The Dow Jones gained 90.99 points, or 1.1%, to 8,529.38.
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US markets open higher; Dow up 11 points
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At 19.06 hrs (IST) The US markets opened higher. The Dow Jones Industrial Average was up 11.71 points, or 0.14%, to 8,450.10. The Nasdaq was up 0.68 points, or 0.04%, to 1,838.90 while the SP 500 was up 0.45 points, or 0.05% to 919.35.
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US markets finish mixed
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The US markets finished mixed on Friday. Today lot of attention won’t be on stocks but a couple of US court rooms. Billionaire investor Bernanrd Maydoff will learn from New York judge how long he wills spend in prison.
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Wall Street ends flat: Dow down 34 points
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It was a choppy and listless session on Wall Street yesterday. The Dow capped another down week with a loss as investors shrugged off a surge in consumer sentiment. Techs gained after encouraging earnings from palm. Financial stocks made a modest rally into the close after spending nearly the entire session showing weakness.
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US markets open lower; Dow down 20 points
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At 19.05 hrs (IST) The US markets opened lower. The Dow Jones Industrial Average was down 20.33 points, or 0.24%, to 8,452.07. The Nasdaq was down 3.02 points, or 0.17%, to 1,826.52 while the SP 500 was down 2.60 points, or 0.28% to 917.66.
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Wall Street advances; Dow up 172 points
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In the US markets, the Dow finally reversed its losing streak and finished the session with impressive gains. Stocks opened lower after weekly jobless claims came in higher than expected. But strong demand for another treasury auction boosted confidence and markets rebounded. The Dow rose 172.54 points, or 2.1%, to 8,472.40.
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Moneycontrol Top Headlines
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Govt to focus on primary education: SIP Academy India
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Mr Dinesh Victor of SIP Academy feels that the government in the past few years has been focused on giving priority to primary education and that this focus needs to continue.
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Global Financial Crisis 200709: Impact on banking sector
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The United States mortgage market default that triggered the global financial crisis around the world in 2007 will change the financial landscape drastically. Since that time policy makers have been trying to formulate solutions to the problems that the financial industry and the global economy is facing.
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Best ever FO series; Reliance Infra, Kotak Mahindra up 80%
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This May \'09 was the best ever Future and Option\'s series which was seen in the Indian markets. Both the equity benchmarks surged 25% each in this series. Stocks like Reliance Infra, Reliance Capital, Unitech and Ranbaxy Labs were up 6080%.
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Moneycontrol Top Headlines
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Sensex unlikely to go back to 21K levels this yr: Enam Sec
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Manish Chokhani of Enam Securities is of the opinion that economic recovery would take longer than expected. He still believes recent upmove is bear market rally. He, however, feels it is unlikely for the Sensex to go back to 21,000 levels this year. “Liquidity will flow into longerterm sustainable assets,” he said.
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Market outlook, trading ideas for Budget day
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The budget will be an event the market will keep a keen eye on? Here are expert ideas to position yourself in trade on Monday and onwards
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Expect earnings degrowth to continue in Q1FY10: Dalton Cap
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UR Bhat, MD, Dalton Capital Advisors, said the markets were not expecting anything dramatic from the budget. “If there is a correction, it will be more severe in midcaps,” he added. He expected earnings degrowth to continue in Q1FY10.
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Mkts to fall irrespective of what budget delivers: ILFS
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Vibhav Kapoor of ILFS said the global market scene was dismal and so the Indian indices would fall in two to three months irrespective of what the budget has to deliver.
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Tim Condon expects India\'s decoupling trade to revive
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Tim Condon of ING Financial Markets expects India\'s decoupling trade to revive and more capital inflows after the Budget. India is likely to get rerated due to its higher growth prospects.
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Fiscal deficit remains focal point: Kotak AMC
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The key point to watch out in the Budget would be how the government balances growth and fiscal prudence. The fiscal deficit remains the focal point as any mismanagement may lead to a rating downgrade, Alroy Lobo of Kotak AMC said.
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Don\'t buy infra; wait for correction: KR Choksey Sec
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Deven Choksey of KR Choksey Securities said that projects take time to fructify and balance sheets to get buildup and so he recommended waiting for some correction before buying the stocks.
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Buy sugar, power stocks ahead: Tower Capital
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Sandeep Bharadwaj, CEO and Head Equity Strategy, Tower Capital, said the top sector to trade ahead would be sugar and, to an extent, power. “International sugar prices will make 10 to 25year highs in the months to come. Globally, we are seeing a huge demandsupply deficit and that can not be prevented by any form of government polices.\"
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Recommendations good but market eyes delivery in Budget
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Finance Minister Pranab Mukherjee unveiled in Parliament the government’s Economic Survey 20082009. The economic survey is high on reforms and divestment and was met with two reactions from most: one of being high on promise but also, at the same time, being a little too good to be actually delivered.
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Bullish on infra sector for longterm: Brics Securities
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Anand Tandon, DirectorEquities, Brics Securities, on a longerterm basis, infrastructure was a great place to be. “It is a very capital intensive kind of business but it is a business where you are likely to see very strong growth,” he added.
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Govt may favour RIL in RILRNRL row: SP Tulsian
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Reliance Industries (RIL) will challenge Bombay High Court’s verdict on the RILRNRL case in the Supreme Court. Commenting on the same, SP Tulsian of sptulsian.com, said the government would be intervening in the appeal at Supreme Court. “I think that things will get murkier from hereon,” he added.
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Oil deregulation unlikely to come up in Budget: Holland
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There hasn\'t been too much noise from the government and the budget expectations are not high. This has dampened sentiment for the nearterm. Oil deregulation is unlikely to come up in the Budget after the fuel price hike yesterday, Andrew Holland said.
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Nifty to range between 42504600: Nilesh Shah
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Nilesh Shah of Envision Capital expects the consolidation to continue with the Nifty ranged between 42504600. The market is trading light ahead of the Budget.
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Budget won\'t move mkt; buy education, irrigation: Kotak Sec
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With the Union Budget, what is the stock market pricing in and how will it move post budget? Not much, said Shashank Khade, VP Portfolio Management Services, Kotak Securities
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See 57% fall in mkt post budget: Centrum Capital
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R Amarnath, EDCorporate Solutions at Centrum Capital, speaking on where the market might be the day after the budget, said there might be a 5–7% fall in the market post the budget announcement on July 6.
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| Technicals |
IPO News |
Business News |
Moneycontrol Top Headlines
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See 4250 Nifty as breakdown point: Sudarshan Sukhani
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Sudarshan Sukhani of Technical Trends sees 4,400 Nifty as the breakout point and 4,250 as the breakdown point. He advises investors to stay away today. “We still remain inside that trading range and it is one of those terrible days in a year when you just do nothing.”
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Mkt to trade in 42504450 range till Budget: Ashwani Gujral
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Technical Analyst Ashwani Gujral expects the market to trade in a range of 4,2504,450 till the budget. \"I do not think the market has enough legs to take out 4,440 before the budget.\" He sees support for the Nifty around 4,2004,500.
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4200 Nifty crucial for uptrend to go on: Sudarshan Sukhani
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Sudarshan Sukhani of Technical Trends was surprised with the performance of the market yesterday. According to him, if the Nifty were to go below 4,200, the intermediate uptrend is over.
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See Nifty in 41504650 range post Budget: Ashwani Gujaral
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Technical Analyst Ashwani Gujaral said sees the Nifty trading in a 4,1504,650 range post Budget. \"The most likely scenario is whatever happens in the Budget, we do not break 4,150 on the downside and 4,650 on the upside.\"
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Go long only above 4400 on Nifty: Sudarshan Sukhani
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Sudarshan Sukhani of technical trends said the Nifty would be in a range between 4,200 and 4,400. He recommended going long in the market only once the Nifty rallies above 4,400.
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Mkt uptrend to resume; 4100 key support: Ashwani Gujral
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Technical Analyst Ashwani Gujral said the markets were showing similar pattern as they were showing in 2004. “I would back the uptrend to restart again rather than a breakout as long as the Nifty holds on to 41004200,” he added.
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Buy if Nifty holds 4270: Mitesh Thacker
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With the market in a clear correction mode, what are the targets from hereon? Technical Analyst Mitesh Thacker said yesterday was a superb comeback when the market clawed back from the red to close flat. “If the Nifty starts above 4,270, I will buy with a 50point stoploss.”
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Nifty in good stead till 3980 holds: Rajat Bose
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Rajat Bose of Rajatkbose.Com said that the major support area around 4185 may be broken by a gapdown.
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Buy with stoploss of 4200: Sudarshan Sukhani
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After seeing a correction last week, it’s now time to buy, Sudarshan Sukhani of Technical Trends said. \"The short trades worked out well last week, now one can go out and buy,\" he said.
The 4,200 support of the Nifty chart would work well, Sukhani said. \"Traders should keep a stoploss of 4,200 below which an uptrend won’t work.\"
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Mkt to bounce back once it hits 4000: Mitesh Thacker
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Mitesh Thacker of miteshthacker.com said the Nifty was likely to hit 4,000 and the bounce back from there. In the shortterm, he recommended shorting if the market rallied to around 4450. He added that the market would hit about 4,110 4,120 soon.
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Nifty in downswing; 4,150 key support: Ashwani Gujral
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Technical Analyst Ashwani Gujral, in an interview to CNBCTV18, said the 4,1004,150 zone was the next support for the Nifty and if that is broken, it may signal a greater downside.
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Rally unlikely; Nifty may reach 4200: Sudarshan Sukhani
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Sudarshan Sukhni of Technical Trends said the market would fall from now with a target of 4,200 and would find it extremely difficult to go much higher now. “The cyclical uptrend has now turned down.”
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See support for Nifty at 44004420: Rajat Bose
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Rajat Bose of rajatkbose.com sees the support for Nifty between 4,400 and 4,420. He added that, were 4,353 to break the Nifty would then become very weak.
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Buy on deep declines: Sudarshan Sukhani
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Technical Analyst Sudarshan Sukhani said the markets could open weak and that may be an opportunity to shortsell, “but if the Nifty opens 50 points gapdown, that will be lost.” The second option was to buy, he said, “but one should buy only on a deep decline.”
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Expect correction; 4650 Nifty crucial level: Atul Suri
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Trader Atul Suri is of the view that the markets may consolidate and giveup some gains around the 4,650 level. He further said that there is no reason to work till Nifty goes below 4,100 levels. Nifty, Suri said, can go to 5,300 if it breaks past 4,560 with good volumes.
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Moneycontrol Top Headlines
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Plan IPO to dilute 20% govt stake: Telecom Consultants
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Telecommunication Consultants India Limited (TCIL), a government owned company, said the company is planning an IPO (initial public offering) to dilute 20% government stake, reports CNBCTV18 quoting NewsWire18.
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Govt planning Cochin Shipyard IPO: Shipping Min
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Government would consider divestment in Shipping Corporation and was planning IPO (initial public offering) of Cochin Shipyard, reports CNBCTV18 quoting NewsWire18.
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Mah Holidays IPO priced at Rs 300/sh, to list in 21 days
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The initial public offer of Mahindra Holidays has been priced at Rs 300 per share. Arun Nanda, Chairman, Mahindra Holidays Resorts, said the IPO has been priced lower as a gesture to retail investors. He said the company will be listed in the next 21 days.
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Mah Holidays looks expensive at Rs 300/sh: Dipan Mehta
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Mahindra Holidays fixed IPO price at Rs 300 a share. Dipan Mehta, Member, BSE/NSE said even at Rs 300 a share, it looked expensive. He was more comfortable at slightly lower levels, maybe around Rs 220230 levels, which would be a good entry point for this company.
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Rishabhdev Technocables ends below issue price
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Rishabhdev Technocables ended its first trading session with a discount of 17.58% to its issue price of Rs 33. The share closed at Rs 27.20 on the BSE.
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Rishabhdev Tecnocable targets Rs 210cr sales in FY11
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Sunil B Golchha, CMD, Rishabhdev Tecnocable, targets Rs 210 crore in FY11 sales. \"FY11 EPS is seen at Rs 15.\"
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Mahindra Holidays IPO priced at Rs 300/sh
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Mahindra Holidays and Resorts India (MHRIL), a part of the Mahindra Group, has priced its issue price at Rs 300 a share. The price band was between Rs 275325 a share.
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Rishabhdev Technocables lists at Rs 42
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Rishabhdev Technocables listed at Rs 42 with a premium of 24.27% to its issue price of Rs 33 a share. At 9.57 am, the share was trading at Rs 39.90, at a premium of 20.90% to its issue price. The share touched an intraday high of Rs 47 and an intraday low of Rs 38.55 in early trade. The total traded quantity was 15,81,921 shares.
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Mahindra Holidays IPO subscribed 9.8 times
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Mahindra Holidays and Resorts India (MHRIL), a part of the Mahindra Group, closed for subscription with an initial public offering (IPO) of 92,65,275 equity shares of Rs 10 each for cash at a price to be decided through a 100% bookbuilding process. The issue got subscribed 9.8 times.
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Rishabhdev Technocables to list on June 29
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After receiving fabulous response to the followon public offer (FPO), Rishabhdev Technocables will list its equity shares on the BSE on June 29, 2009. It has been fixed its FPO issue price at Rs 33 a share (including Rs 23 premium) and raised over Rs 29.70 crore.
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Mahindra Holidays IPO: 2 cr shares bid at upper end
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The initial public offering (IPO) market has found one big applicant Mahindra Holidays. The subscription for the IPO ends today. The issue has been oversubscribed by about three times. The issue size is 92.65 lakh shares and 2 crore shares have come in at the higher end of the price band about 90 lakh shares in the lower end of the price band.
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IPO issue well worth the price, says Mahindra Holidays
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Arun Nanda, Chairman, Mahindra Holidays Resorts, said even as there were reservations from quarters about the issue’s price, it had be seen in the light of its business model. \"The business model is unique. People are unable to totally grasp what it is.\"
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Mah Holidays IPO looks expensive: Sandeep Shah
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Mahindra Holidays IPO opened for subscription and will close today. It IPO price band was at Rs 275325 a share. Sandeep J Shah, CEO of Sampriti Capital said Mahindra Holidays certainly excited me as a theme but not as a stock and certainly not the valuations.
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NHPC likely to price IPO at Rs 1520/sh
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NHPC is working on plan to float IPO (initial public offering) by Julyend, reports CNBCTV18 quoting sources.
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Subscribe to Mahindra Holidays IPO: P Lilladher
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Prabhudas Lilladher has come out with its research report on Mahindra Holidays and Resorts India\'s initial public offering (IPO). Mahindra Holidays opened for subscription with an IPO of 92,65,275 equity shares of Rs 10 each. The issue will close today. The research firm has recommended investors to subscribe the issue.
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Moneycontrol Top Headlines
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Pepsico\'s product range now stronger: Indra Nooyi
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Nooyi now says that the market for pepsico\'s product range has gotten stronger with households across the world cutting back on spending on luxuries like eating out. She\'s betting big on growth from the Asian markets and was in China to inaugurate a plant there.
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RNRL asks SC to restrain RIL from inking gas pacts
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Reliance Industries said, the company filed special leave petition (SLP) against Bombay High Court (HC) Judgement in Supreme Court. Reliance Natural Resources (RNRL) said, the company asked Supreme Court (SC) to restrain Reliance Industries (RIL) from supplying 40 mmscmd to others and from signing contracts for 40mmscmd.
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HPCL Visakha refinery to produce Eurocompliant products
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The Visakha refinery of Hindustan Petroleum Corporation Ltd (HPCL) is gearing up to offer EuroIII and EuroIV compliant products by April 2010, according to Mr P.A.B. Raju, Executive Director.
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Voluntary disclosure of income scheme: A workable idea?
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As part of his dream budget back in 1997, then Finance Minister P Chidambaram introduced the voluntary disclosure of income scheme (VDIS) go bring tax evaders into the net boost the government’s revenue. 12 years later there is growing buzz that is similar amnesty scheme could be in the work,this time to generate fund to spend on infrastructure.
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Rail budget progressive not populist: SP Tulsian
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Cheering the Railway Budget 200910, SP Tulsian of Sptulsian.com, said, he considered this budget to have a revolutionary approach. “We were quite apprehensive that the Railway Budget will be a populist one. However, we have seen quite a progressive approach or I would say the revolutionary approach.”
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See order worth Rs 300500cr from rail budget: BEML
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“All the other coach and car manufacturing that the railway minister announced translates into orders to the extent of Rs 300500 crore in the current year and the years following,\" VRS Natrajan said after the budget.
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See scope in modernising of 50 railway stations: GVK Power
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In today’s Railway Budget, Mamata Banerjee proposed the mordernisation of 50 railway stations. Commenting on the same, Isaac George, CFO, GVK Power Infra said he saw great opportunity in modernising of 50 railway stations.
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RIL gas dispute: RNRL files special leave petition in SC
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RNRL’s Counsel, Mukul Rohatgi, said the company had filed a special leave petition (SLP) in the Supreme Court (SC) today, which would come up for hearing early next week. He, further said, RNRL had sent multiple letters to Reliance Industries (RIL) on the Bombay High Court (HC) judgment.
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QIP proceeds to help improve CAR, grow biz: Dewan Housing
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Kapil Wadhawan, Vice Chairman and MD, Dewan Housing, said 80% response for the qualified institutional placement was from foreign institutional investors. He said the proceeds will help in improving capital adequacy ratio and growing the business.
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See EPS of Rs 2526, no subsidy burden in FY10: Gail
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RK Goel, CFO, Gail, does not expect any subsidy burden in FY10. He said profitability will increase by 25% on no subsidy. Goel sees earnings per share of Rs 2526 for FY10.
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To produce 1.5 mt HR coils in next two quarters: Ispat
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Anil Sureka, EDFinance, Ispat Industries, said, the company was not increasing prices as it was waiting for the budget outcome. The demand for hotrolled coils (HRC) had picked up since April this year, he said, adding, “We will produce 1.5 million tonne (mt) of HRC in the next two quarters.” He expects to achieve 3 mt output in FY10.
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GVK Power raises $150m via QIP to fund growth
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Isaac George, CFO, GVK Power Infrastructure, said the company has raised USD 150 million via its qualified institutional placement. He said the QIP proceeds will be used for growth plans.
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To use entire QIP funds for debt repayment: Emami
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Mohan Goenka, Director of Emami Group said that the company has issued Rs 1 crore shares at Rs 310 per share. Goenka said, “ We plan to use the entire qualified institutional placement (QIP) funds of Rs 310 core for debt repayment. “ the debt as of now for Emami Group is Rs 450 crore.
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3G spectrum must be freely tradable: Survey
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The Economic Survey has suggested major reforms for the telecom sector including auctioning spectrum for mobile services.
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LT, Tata Projects vying for Coastal Energen contract
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LT and Tata Projects have submitted their offers for a Rs 1,500crore ‘Balance of Plant’ job of Coastal Energen.
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