Pure Nifty

Multi Bagger stocks 01- 06 - 2011

2011-06-01T17:18:00.002+05:30

Company Background

Balrampur Chini Mills Ltd (BCML) is one of the largest integrated sugar manufacturing companies in India, based out of Uttar Pradesh. The company has total sugar crushing capacity to the tune of 76500 TCD spread across 10 locations in eastern UP. In addition, the company has total distillery capacity of 320 KLPD, power capacity of 223.6 MW (saleable 125.5 MW) and organic manure capacity of 58000 tonnes, spread across different factory location. The company has recently merged its subsidiary Indo Gulf Industries Ltd with itself, which has cane crushing capacity of 3000 TCD at Maizapur, UP. Following table shows the capacity at various locations

Investment Argument

Lower stock to consumption ratio (s/c) in the range of 15-18% for next two consecutive years to keep sugar prices stable with an upward bias: We expect India's sugar production to increase by 30.3% and 8.0% YoY to 24.5 mn tonnes and 26.5 mn tonnes in SY11E and SY12E respectively. Despite this, after considering India's sugar consumption to the tune of 23 mn tonnes, the s/c ratio is likely to be in the range of 15%-18% (i.e., inventory will suffice only for 50 days; Hence, due to the relatively tight inventory situation, we believe, domestic sugar prices are likely to remain stable with an upward bias for at least next 10-12 months. >>>> More >>>>

Company Background

PTC India Financial Services (PFS) is a systemically important non deposit taking NBFC, promoted by PTC India Ltd (PTC). The company is primarily engaged in equity investment as well as debt financing to projects across the energy value chain in India. PFS raised Rs3.57 bn through an IPO by offering 127.5 mn equity shares @ 28.0 in March 2011. However, the stock got badly hammered post its listing owing to various concerns in the power sector. However, we believe PFS's equity investments and loan disbursements to power projects is comfortably placed in terms of fuel sourcing, regulatory approvals, etc. The company's loan book is adequately collateralized. As far as equity book is concerned the company has protected its rights well with committed IRRs (21.0% to 23.75%) and well structured exits. We believe at current valuation the stock looks attractive. We initiate coverage on PFS with a BUY rating and a price target of Rs 25 /share, implying an upside potential of 40% from current levels.

>>>> More >>>>

COMPANY BACKGROUND [LIC Housing Finance]

Incorporated in 1989, LIC Housing Finance is one of the largest housing finance companies in India providing long term finance for purchase, construction, repair and renovation of houses. The company also grants finance on existing property for business and personal needs and also to professionals for purchase or construction of Clinics, Nursing homes, Diagnostics Centres, Office Spaces and also purchase of equipments. LIC Housing possesses one of the industry's most extensive marketing networks with 13 back offices, 181 marketing units, 773 direct sales agents, 3400 home loan agents and 615 customer relationship associates. It has also set up representative offices in Dubai and Kuwait to cater services to Non-Resident Indians. Till date, LIC `Housing has given financial assistance to over 10 lacs home owners.

LIC Housing came out with an IPO in 1994 and launched it maiden GDR in 2004. The company holds 100% stake in LIC Housing Finance Ltd Care Homes and LIC Housing Financial and Services.

Shares of LIC Housing were split from the face value of Rs 10 into five equity shares having nominal value of Rs 2-/ share. >>> More >>>

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Balrampur Chini mills Ltd 01-06-2011

2011-06-01T16:34:00.001+05:30

Company Background

Investment Argument

In addition, in Brazil, higher crude oil prices will lead to cane diversion towards ethanol. Till 1st May 2011, the ratio of cane used between sugar: ethanol stands at 35:65 as compared to 41:59 in a year ago period. This coupled with lower stock to consumption ratio of 16.9% in SY10 at global level will keep sugar prices in international market stable to buoyant. Prices of agri-commodity in India are derived through supply side dynamics and therefore a slight setback in India's sugar production for SY12E could possibly lead to a very steep rise in sugar prices.

FY12E likely to be peak year of production for the ensuing sugar cycle..Sugar, Alcohol and Power segment to benefit from higher cane crushing leading to increase in overall profitability: Going by the historical cyclical trend, we believe SY12E is likely to be the peak year of the current production upcycle. Hence, we expect FY12E to be a very profitable year for BCML led by benefits of higher volume across all the three segments along with stable sugar price and healthy realisation for alcohol and power. In FY12E, we expect the BCML's cane crushing to increase by 11.8% (to 7.7 mn tonnes) vis-a-vis 8.0% increase at pan India level, due to extensive cane development program taken by the company. Post peak in FY12E, for FY13E, we expect the company's cane crushing to decrease by 7.0% YoY to 7.2 mn tonnes, inline with the industry. Overall, we expect company to post EBITDA of ` 4359.2 mn and ` 4077.9 mn during FY12E and FY13E respectively.

Focus on debt repayment and buyback of shares would make volume growth through the inorganic route easier and also create shareholder value in the longer term: We expect BCML net debt to equity ratio to reduce from 1.3x in SY08 to levels of 0.3x & 0.2x in FY12E & FY13 respectively. Till 13th May'11, BCML has completed 84.7% of the 1100 mn buyback program. Lower debt would enable BCML to absorb shocks during the down-cycle and come out strongly.

Most regulated industry..Any decontrol will be positive for the sector and therefore a good deregulation play: The government is looking into various aspects of deregulations like buying levy sugar at market rate, linking cane price with sugar price, linking ethanol price with petrol price, de-reservation of cane area, etc. Positive development on any of these measures will lead to rerating of the sector.

Valuations: BCML currently trades at an EV/EBITDA of 4.2x and 4.3x FY12E & FY13E EBITDA respectively. On P/BV basis, the stock is trading at 1.1x and 1.0x FY12E and FY13E book respectively. BCML is currently trading at 30% discount to the last peak valuations (maturity cycle) based on 1-yr fwd EV/EBITDA and P/BV multiple. Moreover from Asset value metrics, BCML's FY11E EV/replacement ratio at 50% is far below the historical averages of 93% in SY08, 74.8% in SY09 and 75.4% in FY11 (18 months). We value BCML by assigning equal weights based on FY12E P/BV of 1.25x and EV/EBITDA of 6.0x, thereby arriving at the target of Rs 80 per share. We initiate coverage on the company with BUY rating.

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

PTC India Financial Services 01-06-2011

2011-06-01T16:28:00.003+05:30

Company Background

Investment Arguments:

Equity investments- Main value driver with well structured exits and committed IRRs PFS has a unique business model as in addition to loan financing to power companies, it also makes strategic equity investment in companies in the energy value chain in India. As of March 31, 2011, the company's equity investments aggregated Rs4.59 bn in eight companies. We believe that the company has protected its rights well with committed IRRs (21.0% to 23.75%) and well structured exits. Added to this, the company's representation on numerous boards enables them to get clear understanding of the ground level realities and operational issues. We expect PFS's equity book to grow to Rs 7.04 bn by FY14E.

Loan financing book to grow with increasing leverage: - Margins and return ratios to stabilize going forward. PFS is involved in providing debt financing as well as structured debt financing. Currently the company's loan financing book is very small mainly due to lower leverage of 1.0x (calculated post deducting equity investment from net worth). However, the equity raising initiative by the company recently through an initial public offer will provide enough room to increase its leverage, which will drive the growth in loan book going forward. We expect the loan book to grow at a CAGR of 75.0% (on lower base) over FY11-14E from Rs 6.76 bn currently to Rs36.38 bn with leverage increasing from the current 1.0x to 4.9x by FY14E.

Borrowing profile to get diversified - IFC status to enhance the company's ability to raise funds on cost-competitive basis currently, the company's borrowing profile is less diversified with NCDs and bank term loans constituting 58.0% and 42.0% respectively as of December 31, 2010. However, going forward the management has indicated that the company will explore various other avenues of raising funds and make its borrowing profile more broad based. In light of this, in Q4 FY11 the company has raised Rs0.42 bn through issuance of long term infrastructure bonds and is likely to raise funds through ECBs (agreement with DEG already in place) in the current quarter. The management expects share of bank borrowing to come down going forward to 20.0% by FY14E, while NCDs, ECBs and infrastructure bonds are likely to constitute around 40.0%, 30.0% and 10.5% respectively. PFS was granted IFC status in August 2010 thereby enhancing its ability to raise funds on cost-competitive basis.

Sector outlook and Valuation:

Over the last few months, power sector is plagued by various concerns related to environmental clearance, fuel security and linkages; long term PPA's, overall timely execution of the projects and worsening financial health of state electricity boards (SEBs). The discussion is going on between the power ministry, planning commission & coal ministry to make more coal available to such projects. India has seen huge investments in the sector over the last five years. Power being a critical sector for economic development and sustenance of growth of India's GDP and having serious ramifications for the stability of the financial system, we believe these concerns are likely to be addressed with appropriate policy action.

We have valued PFS in two parts i.e. equity investment book and loan financing book separately. For valuing the equity investments, we have assumed base case post tax equity IRR of 18% and cost of equity of 14%, to arrive at the multiple of 1.43 x to its current equity investment book of 4.59 bn. Applying this derived multiple to FY14E equity investment book of 7.04 bn and discounting it at FY12, gives us a value of Rs13.83/share. The loan financing book is valued at 1.1x its FY12E book value of Rs5.22 bn, thus giving us a fair value of Rs5.75 bn or Rs10.2 / share. This gives us the fair value for both the business at Rs 25/share in the base case scenario, implying an upside potential of 40% from current levels.

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Multi Bagger stocks 01- 06 - 2011

2011-06-01T16:04:00.003+05:30

Company Background

Investment Argument

LIC Housing Finance 29-05-2011

COMPANY BACKGROUND [LIC Housing Finance]

LIC Housing came out with an IPO in 1994 and launched it maiden GDR in 2004. The company holds 100% stake in LIC Housing Finance Ltd Care Homes and LIC Housing Financial and Services.

Shares of LIC Housing were split from the face value of Rs 10 into five equity shares having nominal value of Rs 2-/ share. >>> More >>>

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Weekly beeps / LIC Housing Finance 28-05-2011

2011-05-29T19:14:00.004+05:30

COMPANY BACKGROUND [LIC Housing Finance]

LIC Housing came out with an IPO in 1994 and launched it maiden GDR in 2004. The company holds 100% stake in LIC Housing Finance Ltd Care Homes and LIC Housing Financial and Services.

Shares of LIC Housing were split from the face value of Rs 10 into five equity shares having nominal value of Rs 2-/ share. >>> More >>>

Weekly Beeps 28-05-2011 :

We have witnessed a bizarre trend in the last four weeks with the key indices ending the week higher after falling in the early part of the week. This week was no different. But overall, the sideways consolidation seems to be the order of the day as market players remain clueless on the near-term prospects. For the moment, the trading range on the Nifty is seen between 5300 and 5600. A decisive breakout of this range may not materialise for a while given the lack of big triggers. So, brace for the continuation of the current lackluster pattern in the short-term. Monsoon is the next important event on the domestic calendar. Next month's EGoM on fuel prices will also have some bearing on the sentiment. Inflation remains the biggest problem area.

On the external front, there are a few troubled spots. Eurozone needs to sort out its debt issues while the US must decide the next course of action once the QE2 ends in June. China, like other EMs, is likely to tighten monetary policy further to rein in inflation. It would be interesting to see how fund flows behave in the absence of QE2. If, global commodity prices soften a bit more, it will be a positive for India. One must also keep a close eye on the trend in FII flows.

The US markets will be shut on Monday for the Memorial Day holiday. Among the global data points to track will include manufacturing PMI reports, vehicle sales and the US jobs data. Back home, the Government will come out with the GDP data for the January to March quarter on May 31st.

Mon, 30^th May
Board Meet :
Colgate-Palmolive (India) Ltd
EIH Ltd
Hindalco Industries Ltd
India Cements Ltd
Aditya Birla Nuvo Ltd
Cummins India Ltd
Mahindra & Mahindra Ltd
Godrej Industries Ltd
Reliance Capital Ltd
Bharat Petroleum Corporation Ltd
National Aluminium Company Ltd
Shipping Corporation of India Ltd
NCC Ltd
Oil India Ltd
Central Bank of India
Oil & Natural Gas Corpn Ltd
Indian Oil Corporation Ltd
Punj Lloyd Ltd
GMR Infrastructure Ltd
Mcleod Russel India Ltd
Educomp Solutions Ltd
Reliance Communications Ltd
Dividend :
Hindustan Construction Company Ltd
Indian Bank
Tue, 31^st May
Board Meet :
BEML Ltd

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Multibagger - LIC Housing Finance 28-05-2011

2011-05-29T11:08:00.005+05:30

COMPANY BACKGROUND

LIC Housing came out with an IPO in 1994 and launched it maiden GDR in 2004. The company holds 100% stake in LIC Housing Finance Ltd Care Homes and LIC Housing Financial and Services.

Shares of LIC Housing were split from the face value of Rs 10 into five equity shares having nominal value of Rs 2-/ share.

Key Highlights:

LIC Housings total income for Q4FY11 grew by 40.7% y-o-y to Rs 1354.3Cr, with net interest margins of 3.45% in Q4FY11 as compared to 3.3% same quarter last year. While the average cost of funds increased by 43 bps from 7.59% in Q4FY10 to 8.01% in Q4FY11, the average yield on assets improved by 44 bps y-o-y from 10.18% in Q4FY10 to 10.62% in FY11, resulting into a marginal improvement of 1 bps in the interest spread, reported at 2.61% in Q4FY11.

Net interest income (Interest earned less interest expended) rose by 41% to Rs 420.36 Cr y-o-y supported by 50% rise in interest income from project loans and 39.4% rise in interest income from retail loans y-o-y basis.

The operating profit for Q4FY11 was up by 33.8% y-o-y and 11.18% q-o-q with a marginal growth of 11.3% in processingfees during the quarter despite on decent growth in sanctions and disbursements mainly due to the decline in project sanctions and disbursements where the fees are lump sum. Also the growth was supported by decline in 15% staff cost during the quarter.

Provisions and write-offs for the quarter stood Rs 18.85 Cr a substantial reduction q-o-q basis on account of higher provisioning in Q3FY11 due to regulatory changes made by NBH under which housing finance companies arerequired to make standard asset provisioning of 2% on teaser loans and 0.4% on corporate loans. Advantage 5 product contributed ~80% of the total loan disbursement in Q4FY11, but the company has not yet received any confirmation from NBH claiming it a teaser loan, however LIC Housing feels its excess provision of more than Rs10 Cr in the balance shall take care of it, if NBH classifies Advantage 5 scheme as teaser loans. In FY11, LIC Housing made a provision of Rs 260 Cr towards its three year dual home rate scheme. The provision coverage increased to 93.8% in Q4FY11 from 73.2% in Q3FY11.

Other income in Q4FY11 was substantial on account of profits made on sale of investments. In Q3FY11, the number was higher as LIC Housing sold its partial stake of 17.3% in LIC Mutual Fund to Nomura reporting huge profits under sale of investments.

During the quarter, PAT increased by 47.4% y-o-y to Rs 314.72 Cr on account of one time profit earned on sale of investment of Rs 32.13 Cr, however excluding this, adjusted PAT grew by 36.4% to Rs 283.72Cr.

The EPS for Q4FY11 stood at 6.1 as against Rs 4.5 same quarter previous year.

LIC Housing witnessed decent growth in sanctions and disbursements which grew by 26% and 34%in Q4FY11 y-o-y despite of significant decline in sanctions and disbursements of project loans by 59.5% and 74% y-o-y respectively. The fall was mainly on account of cautious approach adopted by LIC Housing in respect of irregularities of loans payment given to developers.

However, retail sanctions and disbursements strongly grew by 36.9% and 70.7% y-o-y respectively which drove the overall sanctions and disbursement during the quarter.

The retail loan growth looked impressive with a growth of 37.6% y-o-y and 12.5% q-o-q while project loans witnesses slowdown q-o-q basis. The increment in the individual loans boosted the overall loan book at Rs 51089 Cr for Q4FY11. The developer loan proportion stood at 8.5% down from 10.5% in Q3FY11 and 10.9% in Q4FY10. The yields on advances for projects are relatively higher at 13.5%-14% as compared to individual loans at 9%-10%. LIC Housing's 50% total loan portfolio is on floating basis.

Company's ~50% of the borrowing portfolio is on fixed rate. LIC Housing borrowings as of Q4FY11 -27.8% Banks -58.4% NCD's -3.5%NHB's -1.7% LIC -8.6% Balance ( subordinates debts, public deposits, CP's etc)

NIMs improved by 31 bps q-o-q basis mainly on account of higher lending rates, retirement of some high cost borrowings and Rs 12bn home loan portfolio taken over by its parent LIC.

LIC Housing Finance witnessed high asset quality improvement on q-o-q and y-o-y basis. In Q3FY11, the company stated that the security on loan given to developers was more than twice the loan value.

Improvement in Gross NPA's with higher provisioning coverage resulted in overall improvement in Net NPA's

Strengths

Strong loan growth: Sanctions grew by 26% y-o-y to 5809 Cr primarily on account of 37% growth in individual loans; while disbursement grew by 34% y-o-y with 71% growth in individual loans to Rs 6794Cr. Loan book grew by 34% y-o-y to Rs 51090Cr. On sequential basis individual loans grew by 12.5% while project loans remained flat at Rs 4359Cr. However the management expects this growth to resume in coming quarters. Total outstanding borrowings stood at Rs 45162 Cr, up by 30% y-o-y.

Decline in Cost-to-income ratio y-o-y, improves asset quality

On Y-o-Y basis, LIC Housing Finance managed to control its operating expenses on back of 37% decline on advertisement expense and marginal rise of 4.7% in other expenditure with 15.4% in overall operating expenses. Also gain on sale of investments in the quarter helped to maintain its cost-income ratio at 13% for FY11. Asset quality remained stable with Gross NPA at Rs 241.96 Cr for Q4FY11 as against Rs 312.68 same quarter previous year. In percentage terms Net NPA significantly reduced from 0.18 to 0.03 in Q4FY11, q-o-q portraying strong asset quality base.

New scheme 'Freedom'

Under the 'Freedom' scheme, the housing finance company (HFC) will give home loans up Rs 30 lakh at the current PLR (13.75 per cent) less 385 basis points, that is, at 9.90 per cent. Home loans above Rs 30 lakh and less than 75 lakh will be available under the scheme at PLR less 340 basis points, that is, 10.35 per cent. Loans above Rs 75 lakh and up to Rs 1.50 crore will be available at PLR less 300 basis points, that is, 10.75 per cent. The new product is to shift provision requirements by one year. Concerns

Increasing interest rates scenario may impact demand for fresh loans

Substantial decline in project loans sanctions & disbursements impacting the NIM's as yields for project loans are higher as compared to that of individual loans

Increasing competition from State owned banks may pressurize yields and spreads, going forward.

Recommendation

LIC Housing Finance reported strong growth in sanctions and disbursement in FY11 increasing its overall mortgage portfolio by 34% y-o-y along with high asset quality maintained. The company expects a growth of 25% in loan disbursements going forward. Thus as the company continues on its growth trajectory, a BUY rating is recommended with a target price of 320 at 2.5 x its FY13 BV of 126.

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Weekly beeps 15-5-11

2011-05-15T16:37:00.000+05:30

Just like last Friday, the Indian market ended on a happy note this week as well, with the key indices notching up solid gains in the wake of the assembly polls' results. With the scam-tainted DMK routed in Tamil Nadu, Trinamool Congress emerging triumphant in West Bengal and Assam in the pocket, the Congress-led UPA II could actually heave a sigh of relief.

However, one is not sure what will be Mamata Banerjee's attitude towards the Centre after ending the 34-year run of the communist parties. Whether the DMK will be dumped by the Congress is a matter of conjecture. It will be also interesting to see how the Government moves on the ongoing 2G scam. Everything is in a realm of speculation right now.

From the markets' and investors' point of view, the UPA II will get on with policy making with the end of the assembly polls. The market will get a leg-up if indeed a few positive announcements do materialise. FII flows need to improve and inflation has to soften a bit more for the key indices to advance from here. Any further moderation in global commodities will also be welcome.

On the whole, the market will remain volatile with a slightly more positive tilt. It would not be wise to take a broad call just yet. Wait for the dust to settle on the assembly elections. Look for positive cues from the Government. Let there be more clarity on the policy front. At the same time, one cannot afford to lose sight of what's happening around the globe.

Global data watch for next week:

Eurozone inflation, Eurozone trade balance, Ben Bernanke's speech, EU Economic and Financial Affairs Council's meet, UK inflation, US housing starts, US industrial production, BOE minutes, Fed official Bullard's speech, Japan Q1 GDP, Japan industrial production, US jobless claims, ECB chief Trichet's speech, US existing home sales and BOJ policy meet.

Result Calendar for Next Week:

Mon, 16^th May
Board Meet :
JSW Steel Ltd
Quarterly Result :
JSW Steel Ltd

Tue, 17^th May
Board Meet :
State Bank of India
UCO Bank
Opto Circuits (India) Ltd
Bajaj Finserv Ltd

Wed, 18^th May
Board Meet :
Bajaj Holdings & Investment Ltd
Bajaj Auto Ltd
Quarterly Result :
Bajaj Holdings & Investment Ltd
Bajaj Auto Ltd

Thu, 19^th May
Board Meet :
Ashok Leyland Ltd
Larsen & Toubro Ltd
Tata Power Company Ltd
Voltas Ltd
Jet Airways (India) Ltd

Fri, 20^th May
Board Meet :
ITC Ltd
Mangalore Refinery And Petrochemicals Ltd
Divis Laboratories Ltd
IRB Infrastructure Developers Ltd

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Avoid these mistakes in equity market

2011-05-06T20:20:00.000+05:30

06/05/2011 >> Throughout your investing career, it is likely that you will be guilty of committing a lot of mistakes. There is no one today who has not committed costly financial mistakes including the legendary Warren Buffet. However it is the ability to recognize and learn from your mistakes that will determine whether you are able to achieve your investment objectives. It is thus paramount to commit as few mistakes as possible. Failure is often the best teacher provided you allow yourself to be taught.

The last three months have exposed investors to several such mistakes. Here we highlight eight of the common ones.

1) Relying on tips and hearsay is the first and most common mistake committed by most investors.

2) Expecting Big Gains fast. Very few people have the mindset and patience required to invest in equity. A common expectation is to make big gains quickly. There is no focus on the risk the investment exposes your portfolio to. A classic example of recent times was the Power sector. Any stock that had the name ‘Power’ in it was considered sacrosanct. People did not even care about risk involved in taking exposure to such stocks. Instant gratification is injurious to your wealth.

3) Leverage in equity markets can have disastrous consequences not just on your financial health but on your physical health.

4) It’s not easy to always make money in equities and there could be periods of negative returns. Though over time, returns can even out, in the short run there could be sizeable downside. So don’t be surprised by it. Understand, expect corrections and be realistic.

5) Have reasonable expectations from equity. As an asset class equity should technically deliver returns in line with corporate earnings. However we do not invest in a utopian stock market but a market that drives on hope, greed and fear. Hence you are bound to see eras of excesses and exuberance and those of pessimism.

6) It’s all easy to know ‘Buy low and sell high’, but majority of people would end up doing exactly the opposite. Most investment banks, brokerages, hedge funds, FIIs, domestic investors, gurus and analysts are super confident in a bullish market when highs are torn apart every other day. Things suddenly change for them when the market corrects and no one is ready to put even their thumb in the market. Learn to embrace market sell offs. People who could not earlier invest had an excellent opportunity to invest at 14000 to 15000 levels but I do not know too many people who had the gut to really invest.

7) When the market corrects, do not put all your eggs immediately. Corrections that happen after very sharp rallies tend to extend themselves over a few months. One of the strategies that can be adopted is to invest in a staggered fashion. You should start investing if the market has corrected by more than 15-20% and go higher when it crosses 30-35%. There is no way to know what the bottom could be and I don’t know how people come up with their holy predictions on how lower can the index go. When the going is bad, all one hears is bad news and it’s very important to grow beyond these daily projections. Investing is certainly not a poker game and you would be harming your economic interests by following what a bunch of unknown people are doing.

8) Don’t keep looking at your portfolio because things are not going to change even if you see it many times. A quarterly or semi annual review should be good enough for most people. Looking daily is harmful to your overall thought process and can urge you to take emotional decisions whether on the way up or way down.

Most people would like to see their investments grow right from day one. For a long term investor, it should not matter if prices do not rise right away. In fact if investment values indeed go down, you should be happy to see your buying happening at lower levels. Eventually when the market recovers, you are bound to get much higher returns because of these inefficiencies in a turbulent market. The only time your stock prices should be up is when you need to sell.

Currently one sees lower volumes in the market due to fear and several other factors. There is a lack of clarity on the direction of the market. However just because this is the case, there is no need to change your investment strategy. Continue to buy in a staggered fashion and just stay put if you already have.

IPO Listing Detail Friday, May 06, 2011

2011-05-06T06:33:00.000+05:30

Muthoot Finance IPO shares will list on Friday, May 06, 2011(Akshay Tritiya). Issue price of this IPO has been fixed at Rs 175/- per share. IPO was oversubscribed by 24.55 times (8.50 times in retail) .

Listing Date: Friday, May 06, 2011
NSE Symbol: MUTHOOTFINListing In: 'B' Group of SecuritiesSeries: EQ
ISIN: INE414G01012
Issue Price: Rs. 175.00 Per Equity Share
Face Value: Rs. 10.00 Per Equity Share

The Stock Exchange is conducting an extended live trading session on Friday, May 06, 2011 on auspicious occasion of Akshaya Tritiya for trading in Gold ETF securities only.

The customers can trade in Gold ETF up to 9.00 PM on that day.

So, on this Akshay Tritiya, go for gold that promises security and prosperity.

Extended market timings for Gold ETF securities only

Pre-open Time (for order cancellation only) 16:25 hrs

Normal Market Re-Open time 16:30 hrs

Normal Market close time 21:00 hrs

* At normal Auto Square Off period, all intraday positions (including Gold ETF) will squared off & client will be able to place order in Delivery product only till market closure at 9 PM. No closing session after extended market close time.

GOLD ETF available at NSE are

SYMBOL	SERIES	SECURITY NAME
AXISGOLD	EQ	AXIS MF - AXIS GOLD ETF
GOLDBEES	EQ	BENCHMARK GOLDBEES
GOLDSHARE	EQ	UTI GOLD ETF
HDFCMFGETF	EQ	HDFC GOLD ETF
IPGETF	EQ	ICICI PRUDENTIAL GOLD ETF
KOTAKGOLD	EQ	KOTAK GOLD ETF
QGOLDHALF	EQ	QUANTUM GOLD FUND
RELGOLD	EQ	RELIANCE GOLD ETF
RELIGAREGO	EQ	RELIGARE GOLD ETF
SBIGETS	EQ	SBI MF-SBI GOLD ETS-GO

Weekly Report 01-05-2010

2011-04-30T21:30:00.001+05:30

The Indian market didn't benefit from the Federal Reserve's pledge to keep the stimulus in tact. FII selling, mixed corporate earnings, rising inflation and concerns about further rate hike were the factors at play. F&O rollovers have been lower than average. Technically, the Nifty is very close to its 200-DMA. A breach of this level could exacerbate selling. Upside, if any will be capped in light of the FII outflows. So, one must be vigilant and avoid complacency.

The RBI will hold its policy meeting on May 3. Market consensus is for a 25 bps increase in policy rates. World markets will also react to the latest rate decisions by central banks in Australia, UK and Eurozone. Apart from that, markets will absorb reports on manufacturing and services PMIs. In India, monthly auto sales and trade data will also be released next week. In the short-term, one needs to be a little guarded and wait for the momentum to turn higher again.

Corporate Happenings Next Week

Mon, 02nd May
Board Meet :
Century Textiles & Industries Ltd
Bank of India
Allahabad Bank
Indian Overseas Bank
Marico Ltd
Godrej Consumer Products Ltd
Dividend :
ABB Ltd
Quarterly Result :
Marico Ltd
Tue, 03rd May
Board Meet :
Essar Shipping Ports & Logistics Ltd
Thermax Ltd
Essar Oil Ltd
Wed, 04th May
Board Meet :
Hero Honda Motors Ltd
Punjab National Bank
Torrent Power Ltd
AGM :
Areva T&D India Ltd
Quarterly Result :
Hero Honda Motors Ltd
Thu, 05th May
Board Meet :
Cipla Ltd
Glaxosmithkline Pharma Ltd
Kotak Mahindra Bank Ltd
Canara Bank
Andhra Bank
Bharti Airtel Ltd
Dividend :
Reliance Industries Ltd
Biocon Ltd
Mundra Port & Special Economic Zone Ltd
Quarterly Result :
Canara Bank
Fri, 06th May
Board Meet :
Glaxosmithkline Pharma Ltd
Great Eastern Shipping Company Ltd
Piramal Healthcare Ltd
Rolta India Ltd
Federal Bank Ltd
Union Bank of India
Central Bank of India
Cadila Healthcare Ltd
KSK Energy Ventures Ltd
Sat, 07th May
Board Meet :
Bhushan Steel Ltd
India Infoline Ltd
GVK Power & Infrastructure Ltd

Give your Trading Account Extra Protection - Verify your txns directly from NSE :
NSE has incorporated Trade Verification module in their website which is a very simple tool to verify trades executed in your Trading account. The trading data of last 10 trading days would be available for verification directly from stock exchange website.

Investors who are registered on the website would receive an SMS on the designated mobile number at the end of each trading day giving a summary of the trading activity.
An email would also be sent on the registered email id providing the trading details.
This will help you to confirm trade executions in your account, directly from the stock exchange.

So act now. Make your trading account secure by register your trading account with stock exchange from below link.
http://nseindia.com/marketinfo/trades/newStructure/registration/registerTV.jsp

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Weekly beeps 24-04-2011

2011-04-24T16:31:00.000+05:30

As anticipated, the Indian market did manage to recover from last week's severe jolt. A worldwide rally in equities on the back of some sterling results in the US coupled with IMD's forecast of a normal monsoon were the key drivers. TCS and Reliance Industries came out with their results on the last trading day of the truncated week. Both the stocks will be in action early next week along with Hindustan Zinc, Jindal Steel, Nestle India and Axis Bank. Earnings will continue to be in focus for quite some time to come as the annual earnings are spread over three months. Volatility will remain high next week due to the F&O expiry on April 28.

The market has turned choppy in the past few sessions and could remain so in the near term as corporates announce their results. At the same time,inflation continues to be sticky, stoking fear of another 25 bps rate hike by the RBI on May 3. The central bank is expected to jack up rates by another 50 bps or so to rein in stubborn inflation. Rates are also going up in other economies. Thailand, Brazil and Sweden increased borrowing costs this week. The ECB has lifted its rates recently and concerns are mounting about similar moves by other central banks even as the Fed is most likely to delay its exit from easy money policy.

World markets are closed on Friday on account of the Good Friday.Trading in several world markets will remain shut on Monday owing to extended Easter holidays. Fed policymakers will meet next week while the Bank of Japan will also hold its latest policy meets. World will also tune into listen to Fed chairman Ben S. Bernanke, who will deliver a couple of speeches next week.

In India, the key indices will remain sideways with no clear bias as such.The Nifty may face resistance around 5900 and 6000 levels. Near-term support is likely at 5700. It might surpass 6000 if it manages to breach 5950 but the ascent won't be all that smooth. Take a daily and stock specific approach to avoid taking a hit on your portfolio.

Wishing you all a Happy Easter in advance.

Give your Trading Account Extra Protection - Verify your txns directly from NSE :

An email would also be sent on the registered email id providing the trading details.

http://nseindia.com/marketinfo/trades/newStructure/registration/registerTV.jsp

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2]HOW TO: Undo “Send” in Gmail ?

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

HDFC Bank approves 5-for-1 stock split [19-04-11]

2011-04-18T23:00:00.001+05:30

India's third largest lender HDFC Bank has reported fourth quarter net profit of Rs 1,115 crore, a growth of 33.2% as compared to Rs 837 crore in same quarter the previous financial year.

HDFC Bank has approved subdivision of equity share from face value of Rs 10 to Rs 2. Every One share becomes 5 shares.

The bank's Q4 loan growth at 27%; Q4 NIM was at 4.2%

Fee income was up 23.2% at Rs 1,000 crore

Its cost to income ratio was at 48.8%

Its balance-sheet size at Rs 2.77 lakh crore

Total restructured loans at 0.4% of total loans

The bank has network of 1986 branches

Its dividend at Rs 16.50 versus Rs 12 per share (YoY)

Cost to income ratio at 48.8%

Fee income up 23.2% at Rs 1000 crore

NIFTY Weekly Chart 09-04-2011

As expected, the Indian market went into consolidation mode with the Large-Cap stocks moderating after a sharp spike in the last few sessions. But the Small-Cap and Mid-Cap space managed to garner a lot of attention as investors chased returns in view of their relative under-performance vis-a-vis the frontline counters.

Next week will be a truncated one with two public holidays on 12th on account of Ram Navmi and on 14th account of Dr.Ambedkar Jayanti. Market participants could well choose to stay on the sidelines for a while as India Inc. starts reporting earnings. Infosys will announce its results and guidance on April 15. Also watch out for the latest IIP data and monthly inflation numbers. Overseas developments will of course continue to have a bearing on sentiment here.

Keep a close eye on FII inflows, which seem to be tapering off from a late March upsurge. Crude oil is another big variable that one cannot afford to lose sight of. A slew of economic statistics will be out next week from China as well as from other parts of the world.

Though the equity markets around the world have been quite resilient, the trend appears too good to sustain for long. The key stock benchmarks may rise a little but the upside does look to be limited. At the same time, a major crash is not on the cards although a minor correction cannot be ruled out.

Give your Trading Account Extra Protection - Verify your txns directly from NSE :

An email would also be sent on the registered email id providing the trading details.

http://nseindia.com/marketinfo/trades/newStructure/registration/registerTV.jsp

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

NIFTY Weekly Chart 09-04-2011

2011-04-09T22:14:00.003+05:30

As expected, the Indian market went into consolidation mode with the Large-Cap stocks moderating after a sharp spike in the last few sessions. But the Small-Cap and Mid-Cap space managed to garner a lot of attention as investors chased returns in view of their relative under-performance vis-a-vis the frontline counters.

Give your Trading Account Extra Protection - Verify your txns directly from NSE :

An email would also be sent on the registered email id providing the trading details.

http://nseindia.com/marketinfo/trades/newStructure/registration/registerTV.jsp

1]How to Close and Delete Google Account, Gmail, Talk, Orkut, Web History and Other Google Services.

2]HOW TO: Undo “Send” in Gmail ?

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Weekly Report 26-03-2011

2011-03-26T15:38:00.000+05:30

It was not expected to be a good week but eventually turned out to be so, much to the delight of the bulls. The two main indices clocked impressive gains and are within striking distance of their 200-DMA levels. Once they breach the critical technical levels, there could be further gains to be had; how much more is anybody's guess.

Any fresh advance will need push in the form of steady FII inflows and continuation of the global rally. Also, there should be no major upheaval abroad. Crude oil too should not spike sharply. Overall, the undertone has improved but one should remain on guard for any untoward incident.

On the domestic front, the Indian markets could turn slightly more volatile due to the F&O expiry. The end of fiscal year might also lead to last minute portfolio rebalancing. Local market participants will also react to the latest current account deficit and fiscal deficit numbers, besides auto sales and the trade figures.

EU Economic Summit, US GDP data and remarks by Fed officials on Friday could play a role in determining the direction of the western markets. Global investors will continue to keep an eye on developments in Japan, the MENA region and the eurozone. Important economic statistics to watch out for will include the manufacturing and services PMI data

Weekly report 18-03-2011

2011-03-20T23:05:00.001+05:30

Another rollercoaster week leaves the Indian market vulnerable to fresh intermediate downtrend after having bounced back from the recent lows. With inflation running beyond the RBI's comfort level and crude oil prices unrelenting, the market will find it really tough to breakout from the current range. FIIs too continue to be fickle to emerging markets like India, as the US and other matured economies start gathering speed. The Government keeps landing in some mess or the other every now and then. Policy making remains in a state of limbo. Investors are lacking conviction as of now.

In this backdrop, we expect the market to remain volatile and range bound. In the immediately short-term, sentiment will be driven by the events in Japan and the Middle-East. Going ahead, key domestic triggers will come from monsoon and next batch of earnings. One must turn choosy and cautious when there is no consensus on the market's direction. Don't expect the market and your portfolio to do a whole lot in the near-term, but start preparing for the medium to long term.

News of the Week

-Food inflation stays low; Fuel inflation spurts

-RIL falls on downbeat outlook on D6 gas output

-RIL, GAIL, Andhra IPPs sign gas swap agreements

-RBI hikes repo rate, reverse repo rate by 25 bps - The central bank hiked the repo rate to 6.75% from 6.50% while the reverse repo rate has been raised to 5.75% from 5.50%.The RBI left the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR) unchanged at 6% and 24%, respectively.

-M&M completes acquisition of stake in SsangYong Motor

-Bharti Airtel eyes Qualcomm's BWA biz

-Jyothy Labs buys 14.9% in Henkel India

-Reliance Infra bags 2400 MW power project at Samalkot

-TPG, Shriram group acquire Vishal Retail operations.

Weekly Report 5-03-2011

2011-03-07T17:06:00.001+05:30

The Union Budget turned out to be a savior for the Indian capital markets, at least for the week, with Nifty posting smart gains before finishing flat on Friday. At the moment, it is not clear whether the post-Budget rally will sustain or the market will soften a bit. either of the two scenarios could unfold. So, it would pay to stay cautious. The trend may be volatile and the indices will stay within a trading range. The Nifty is likely to trade between 5300 and 5650 in the short term.

Event wise, next week will be a little low key. IIP data for January is likely to show improvement from December. Among the other important domestic data points to watch out for in the coming days include: Monthly Inflation Report on March 14 and the RBI mid-quarter review on March 17.

Globally, one should look out for economic reports on Japan's Q4 GDP, UK's industrial production, Bank of England's interest rate decision, US retail sales and US consumer sentiment.

How can one forget the ongoing turmoil in the Middle-East and North Africa. Geopolitical risk and its fallout on crude oil prices will continue to have a bear sentiment across world markets. Also, the US jobs data will be analysed carefully to ascertain the state of the US economy, especially the weak labour market.

Budget 2011-12 details

TAXES

* Standard rate of excise duty held at 10 percent; no change in CENVAT rates

* Personal income tax exemption limit raised to Rs 180,000 from Rs 160,000 for individual tax payers
* For senior citizens, the qualifying age reduced to 60 years and exemption limit raised to Rs 2.50 lakh.
* Citizens over 80 years to have exemption limit of Rs 5 lakh.
* To reduce surcharge on domestic companies to 5 percent from 7.5 percent.
* A new revised income tax return form 'Sugam' to be introduced for small tax papers.
* To raise minimum alternate tax to 18.5 percent from 18 percent
* Direct tax proposals to cause 115 billion rupees in revenue loss
* Service tax rate kept at 10 percent
* Customs and excise proposals to result in net revenue gain of 73 billion rupees >>> More >>

Highlights of Union Budget 2011-12

GDP estimated to have grown at 8.6% in 2010-11

Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year

Indian economy expected to grow at 9% in 2011-12.

Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption

Public Debt Management Agency of India Bill to come up next financial year

Direct Tax Code (DTC) to be effective from April 01, 2012

Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted

Rs.40,000 crore to be raised through disinvestment in 2011-12

FDI policy to be liberalized further >>> More >>

Historical Performance of Indian Capital Market on Budget Day

Budget Date	Budget Day	Previous Day	Next Day	Pre-Week	Post Week
28-Feb-01	4.36%	-1.05%	0.58%	-2.38%	-11.28%
28-Feb-02	-3.87%	-0.19%	3.27%	-0.98%	1.17%
28-Feb-03	0.19%	0.52%	-0.19%	-0.56%	-3.92%
Jul 8 2004	-2.26%	0.56%	2.10%	0.05%	2.72%
28-Feb-05	2.19%	-0.07%	-0.94%	1.89%	2.67%
28-Feb-06	0.86%	0.80%	1.88%	3.90%	1.96%
28-Feb-07	-4.01%	-1.25%	1.71%	-10.17%	-0.41%
29-Feb-08	-1.38%	-0.01%	-5.12%	-0.22%	-8.25%
06-Jul-09	-5.83%	1.74%	0.90%	-2.11%	1.49%
26-Feb-10	1.08%	-0.01%	2.09%	0.00%	4.07%

Budget 2011-12 details

2011-03-01T15:53:00.004+05:30

TAXES

* Standard rate of excise duty held at 10 percent; no change in CENVAT rates

GDP estimated to have grown at 8.6% in 2010-11

Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year

Indian economy expected to grow at 9% in 2011-12.

Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption

Public Debt Management Agency of India Bill to come up next financial year

Direct Tax Code (DTC) to be effective from April 01, 2012

Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted

Rs.40,000 crore to be raised through disinvestment in 2011-12

FDI policy to be liberalized further >>> More >>

Historical Performance of Indian Capital Market on Budget Day

Budget Date	Budget Day	Previous Day	Next Day	Pre-Week	Post Week
28-Feb-01	4.36%	-1.05%	0.58%	-2.38%	-11.28%
28-Feb-02	-3.87%	-0.19%	3.27%	-0.98%	1.17%
28-Feb-03	0.19%	0.52%	-0.19%	-0.56%	-3.92%
Jul 8 2004	-2.26%	0.56%	2.10%	0.05%	2.72%
28-Feb-05	2.19%	-0.07%	-0.94%	1.89%	2.67%
28-Feb-06	0.86%	0.80%	1.88%	3.90%	1.96%
28-Feb-07	-4.01%	-1.25%	1.71%	-10.17%	-0.41%
29-Feb-08	-1.38%	-0.01%	-5.12%	-0.22%	-8.25%
06-Jul-09	-5.83%	1.74%	0.90%	-2.11%	1.49%
26-Feb-10	1.08%	-0.01%	2.09%	0.00%	4.07%

Highlights of Union Budget 2011-12

2011-03-01T15:51:00.000+05:30

GDP estimated to have grown at 8.6% in 2010-11
Exports grown by 9.6%, imports by 17.6% in April-January 2010-11 over corresponding period last year
Indian economy expected to grow at 9% in 2011-12.
Five-fold strategy to deal with black money. Group of Ministers to suggest ways for tackling corruption
Public Debt Management Agency of India Bill to come up next financial year
Direct Tax Code (DTC) to be effective from April 01, 2012
Phased move towards direct transfer cash subsidy to BPL people for better delivery of kerosene, LPG and fertilizer mooted
Rs.40,000 crore to be raised through disinvestment in 2011-12
FDI policy to be liberalized further
SEBI registered mutual funds permitted to accept subscription from foreign investors who meet KYC requirement
FII limit for investment in corporate bonds in infrastructure sector raised
Additional banking license to private sector players proposed
Rs.6000 crore to be provided in 2011-12 for maintaining minimum Tier I Capital to Risk Weighted Asset Ratio (CRAR) of 8% in public sector banks
Rs.500 crore to be provided to regional rural banks to maintain 9% CRAR
India Microfinance Equity Fund of Rs.100 crore to be created by SIDBI
Rs. 500 crore Women SHG Development Fund to be created
Micro Small and Medium Enterprises MSME gets boost as Rs. 5000 crore provided to SIDBI and Rs.3000 crore to NABARD
Existing housing loan limit enhanced to Rs.25 lakh for dwelling units
Provision under Rural housing Fund enhanced to Rs.3000 crore
Allocation under Rashtirya Krishi Vikas yojna (RKVY) increased to Rs.7860 crore
Allocation of Rs.300 crore to promote 60000 pulses villages in rainfed areas
Rs. 300 crore vegetable initiative to achieve competitive prices
Rs.300 crore to promote higher production of nutri-cereals
Rs.300 crore to promote animal based protein
Rs.300 crore Accelerated Fodder Development Programme to benefit farmers in 25000 villages
Credit flow to farmers raised from Rs.3,75,000 crore to Rs.4,75,000 crore
Rs.10,000 crore for NABARD's Short Term Rural Credit Fund for 2011-12
15 more mega food parks during 2011-12
National food security bill to be introduced this year
Capital investment in storage capacity to be eligible for viability gap funding
23.3% increase in allocation for infrastructure
Tax-free bonds of Rs.30,000 crore proposed by government undertakings
Environmental concerns relating to infrastructure projects to be considered by Group of Ministers
National Mission for Hybrid and Electric Vehicles to be launched
7 Mega clusters for leather products to be set up
Allocation for social sector increased by 17% amounting to 36.4% of total plan allocation
Bharat Nirman allocation increased by Rs.10,000 crore
Rural broadband connectivity to all 2.5 lakh panchayats in three years.
Bill to amend Indian Stamp Act to introduce. Rs.300 crore scheme for modernization stamp and registration administration
Significant increase in remuneration of Angawadi workers and helpers
Allocation for education increased by24%. Rs.21,000 crore allocated for Sarv Shikshya Abhiyan registering an increase of 40%
1500 institute of higher learning to be connected by March 2012 with Knowledge Knowledge Network.
National Innovation Council set up. Additional Rs.500 crore for National Skill Development Fund
Plan allocation for health stepped up by20%
Indira Gandhi National Old Age Pension Scheme liberalized further
Rs.200 crore for Green India Mission
Rs.200 crore for cleaning of rivers
Rs.8000 crore provided for development needs of J&K
10 lakhs Aadhaar(UID) numbers to be generated everyday from 1st October
Fiscal deficit kept at 4.6% of GDP for 2011-12
Income Tax exemption limit for general category in individual tax payers enhanced from Rs.1,60,000 to Rs.1,80,000
Qualifying age for senior citizens lowered to 60; senior citizen above 80 year to get Rs.5,00,000 IT exemption
Surcharge on corporate lowered to 5%

Budget 2011-12 details

2011-03-01T15:47:00.001+05:30

TAXES

* Standard rate of excise duty held at 10 percent; no change in CENVAT rates

* Personal income tax exemption limit raised to Rs 180,000 from Rs 160,000 for individual tax payers

* For senior citizens, the qualifying age reduced to 60 years and exemption limit raised to Rs 2.50 lakh.
* Citizens over 80 years to have exemption limit of Rs 5 lakh.
* To reduce surcharge on domestic companies to 5 percent from 7.5 percent.
* A new revised income tax return form 'Sugam' to be introduced for small tax papers.
* To raise minimum alternate tax to 18.5 percent from 18 percent
* Direct tax proposals to cause 115 billion rupees in revenue loss
* Service tax rate kept at 10 percent
* Customs and excise proposals to result in net revenue gain of 73 billion rupees
* Iron ore export duty raised to 20 percent
* Nominal one per cent central excise duty on 130 items entering the tax net. Basic food and fuel and precious stones, gold and silver jewellery will be exempted.
* Peak rate of customs duty maintained at 10 per cent in view of the global economic situation.
* Basic customs duty on agricultural machinery reduced to 4.5 per cent from 5 per cent.
* Service tax widened to cover hotel accommodation above Rs 1,000 per day, A/C restaurants serving liquor, some category of hospitals, diagnostic tests.
* Service tax on air travel increased by Rs 50 for domestic travel and Rs 250 for international travel in economy class. On higher classes, it will be ten per cent flat.

FISCAL DEFICIT

* Fiscal deficit seen at 5.1 percent of GDP in 2010-11
* Fiscal deficit seen at 4.6 percent of GDP in 2011-12
* Fiscal deficit seen at 3.5 percent of GDP in 2013-14

SPENDING

* Total expenditure in 2011-12 seen at 12.58 trillion rupees
* Plan expenditure seen at 4.41 trillion rupees in 2011-12, up 18.3 percent

REVENUE

* Gross tax receipts seen at 9.32 trillion rupees in 2011-12
* Non-tax revenue seen at 1.25 trillion rupees in 2011-12

GROWTH, INFLATION EXPECTATIONS

* Economy expected to grow at 9 percent in 2012, plus or minus 0.25 percent
* Inflation seen lower in the financial year 2011-12

DISINVESTMENT

* Disinvestment in 2011-12 seen at 400 billion rupees

BORROWING

* Net market borrowing for 2011-12 seen at 3.43 trillion rupees, down from 3.45 trillion rupees in 2010-11

POLICY REFORMS

* To create infrastructure debt funds
* To boost infrastructure development with tax-free bonds of 300 billion rupees
* Food security bill to be introduced this year
* To permit SEBI registered mutual funds to access subscriptions from foreign investments
* Raised foreign institutional investor limit in 5-year corporate bonds for investment in infrastructure by $20 billion
* Public debt bill to be introduced in parliament soon

SPENDING

* To allocate more than 1.64 trillion rupees to defence sector in 2011-12
* Corpus of rural infrastructure development fund raised to 180 billion rupees in 2011-12
* To provide 201.5 billion rupees capital infusion in state-run banks in 2011-12
* To allocate 520.5 billion rupees for the education sector
* To raise health sector allocation to 267.6 billion rupees

AGRICULTURE

* Removal of supply bottlenecks in the food sector will be in focus in 2011-12
* To raise target of credit flow to agriculture sector to 4.75 trillion rupees
* Gives 3 percent interest subsidy to farmers in 2011-12
* Cold storage chains to be given infrastructure status
* Capitalisation of National Bank for Agriculture and Rural Development (NABARD) of 30 billion rupees in a phased manner
* To provide 3 billion rupees for 60,000 hectares under palm oil plantation
* Actively considering new fertiliser policy for urea

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Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Market beeps 16-02-2011

2011-02-16T09:10:00.001+05:30

BUY SUPREMEINFRA ABV 206.50 TGT 209/213/216 SL 200, BUY TATASTEEL AT 617 TGT 623/630 SL 610, BUY TATACOFFEE AT 566 TGT 571/577 SL 560. (TIME:9AM)

CHAKDE DELIVERY : BUY HEXAWARE AT 107.50 TGT 111/114 SL 103, BUY RCOM ABV 101.50 TGT 104/107 SL 98, BUY CHAMBLAFERT AT 75 TGT 77/79 SL 72.(2-3 DAYS HOLD) (TIME:9AM)

#Cairn says continue working with GoI to close vedanta deal by April 15

#M&M seals $470 miillion for the ailing korean auto major Ssangyong

#GMR Infra raised around Rs:520Cr debt from IIFCL for modernizing Delhi International Airport

#Opto Circuits foray into US Stent market may take 2-3 years more

#Syndicate Bank :Board meet on 19th to consider allotment to GOI via pref equity

#Andhra Bank :Board meet on 18th to consider preferential allotment of equity of Govt.of India

#Advata:Board meet on 18th to consider fund raising

#India Cements says Indonesia mine buy delayed on account of environmental clearance from the Indonesian Govt.

#Ashapura Minechem:Board meet on 17th to consider Issue of Securities listing of Equity shares of Bil Energy System Ltd pursuant to scheme of Arrangement today

Market beeps 07-02-2011:

CIPLA 320CA 1ST TGT HIT

BUY ABB (CASH/FUT) @689 TGT:695-701 SL:680 TIME:1.46PM

OPTION BUY CIPLA 320CA @6.50 TGT:7.50-9-10 SL:4 TIME:1.24PM

TITAN 1ST TGT HIT TIME:12:58PM

BFUTILITIE 1ST TGT HIT

BUY TITAN @3478 TGT:3495-3510 SL:3460 TIME:11:26AM

RELIANCE @DAYS HIGH

BFUTILITIE @817 TGT:828-838-848 SL:800 TIME:10:55AM

SEE FRIDAY BTST CALL OF HEROHONDA ROCKING ...

HEROHONDA 1600CA ROCKING BOOK FULL PROFIT IN IT TIME:10:44AM

RELIANCE MOVING...

BUY DRREDDYS(CASH/FUT) @1565 TGT:1580-1595-1610 SL:1545 TIME:10.32AM

SEE MORNING CALL OF FCH 1ST TGT HIT TIME:10AM

BUY FCH 154 TGT 158/162/166 SL 145 TIME:8.50AM

Market Beeps :07-02-2011

Result today:bajaj Hind,Elder pharma,Fortis Health,Lanco Infra,Naga Fert,Punj Lloyd.

Unitech repays debt of Rs:178Cr loan ahead of Feb 22 deadlines.

Sail may not get a go ahead to mine iron or frm the Chiria reserves in Jharkand.

GMR,GVK Infra may oppose order to regulate airport revenues fear the new model will cap revenues frm commercial activities at the Airport.

Airtel in exclusive deal with savvis for offering managed could serviess to enterprise customers.

1]How to Close and Delete Google Account, Gmail, Talk, Orkut, Web History and Other Google Services.

2]HOW TO: Undo “Send” in Gmail ?

3]Obama's India Trip Signals New Oppertunities for Growth.

#Ad : Unlimited Validity Bulk SMS@5paisa ! With Open Root (Send sms with out Internet/Computer)

Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Market beeps 07-02-2011

2011-02-07T14:01:00.001+05:30

CIPLA 320CA 1ST TGT HIT

BUY ABB (CASH/FUT) @689 TGT:695-701 SL:680 TIME:1.46PM

OPTION BUY CIPLA 320CA @6.50 TGT:7.50-9-10 SL:4 TIME:1.24PM

TITAN 1ST TGT HIT TIME:12:58PM

BFUTILITIE 1ST TGT HIT

BUY TITAN @3478 TGT:3495-3510 SL:3460 TIME:11:26AM

RELIANCE @DAYS HIGH

BFUTILITIE @817 TGT:828-838-848 SL:800 TIME:10:55AM

SEE FRIDAY BTST CALL OF HEROHONDA ROCKING ...

HEROHONDA 1600CA ROCKING BOOK FULL PROFIT IN IT TIME:10:44AM

RELIANCE MOVING...

BUY DRREDDYS(CASH/FUT) @1565 TGT:1580-1595-1610 SL:1545 TIME:10.32AM

SEE MORNING CALL OF FCH 1ST TGT HIT TIME:10AM

BUY FCH 154 TGT 158/162/166 SL 145 TIME:8.50AM

Market Beeps :07-02-2011

Result today:bajaj Hind,Elder pharma,Fortis Health,Lanco Infra,Naga Fert,Punj Lloyd.

Unitech repays debt of Rs:178Cr loan ahead of Feb 22 deadlines.

Sail may not get a go ahead to mine iron or frm the Chiria reserves in Jharkand.

GMR,GVK Infra may oppose order to regulate airport revenues fear the new model will cap revenues frm commercial activities at the Airport.

Airtel in exclusive deal with savvis for offering managed could serviess to enterprise customers.

1]How to Close and Delete Google Account, Gmail, Talk, Orkut, Web History and Other Google Services.

2]HOW TO: Undo “Send” in Gmail ?

3]Obama's India Trip Signals New Oppertunities for Growth.

#Ad : Unlimited Validity Bulk SMS@5paisa ! With Open Root (Send sms with out Internet/Computer)

Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Intraday beeps 03-02-2011

2011-02-03T08:46:00.008+05:30

US Market ended flat.

Europe markets closed mixed.

Major Asian Markets are shut today and nikkei trading weak.

Expect Indian markets to open flat to trade range bound.

Nifty:(5432) Support 5366 and resistance 5500

INTRADAY BUY WOCKPHARMA ABV 380 TGT:384-388 SL:373

BUY TECPRO @318 TGT:322-326 SL:313

BUY DRREDDY @1614 TGT:1630-1645 SL:1590 ( Time:9.00am )

DELIVERY BUY GREAVESCOTTON @91.50 TGT:94-96 SL: 89

BUY DELTACORP @74 TGT:76-78 SL:71

BUY SATYAMCOMP @60 TGT:62-64 SL:57 (3-5DAYS HOLD) ( Time:9.00am )

BUY APOLLOHOSPITAL @483 TGT:487-493 SL:475 ( Time:9.22am )

APOLLOHOSPITAL NOT EXECUTED AVOID IT

BUY M&M (CASH/FUT)@698-700 TGT:707-714 SL:690 ( Time:9.26am )

1]How to Close and Delete Google Account, Gmail, Talk, Orkut, Web History and Other Google Services.

2]HOW TO: Undo “Send” in Gmail ?

3]Obama's India Trip Signals New Oppertunities for Growth.

#Ad : Unlimited Validity Bulk SMS@5paisa ! With Open Root (Send sms with out Internet/Computer)

Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Intrady beeps 03-02-2011

2011-02-03T08:46:00.003+05:30

INTRADAY BUY WOCKPHARMA ABV 380 TGT:384-388 SL:373

BUY TECPRO @318 TGT:322-326 SL:313

BUY DRREDDY @1614 TGT:1630-1645 SL:1590

DELIVERY BUY GREAVESCOTTON @91.50 TGT:94-96 SL: 89

BUY DELTACORP @74 TGT:76-78 SL:71

BUY SATYAMCOMP @60 TGT:62-64 SL:57 (3-5DAYS HOLD)

1]How to Close and Delete Google Account, Gmail, Talk, Orkut, Web History and Other Google Services.

2]HOW TO: Undo “Send” in Gmail ?

3]Obama's India Trip Signals New Oppertunities for Growth.

#Ad : Unlimited Validity Bulk SMS@5paisa ! With Open Root (Send sms with out Internet/Computer)

Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Stock beeps 21-01-2011

2011-01-21T08:55:00.000+05:30

DELIVERY BUY RAINBOWPAPERS @58.50 TGT:60-62 SL:56

BUY TVSMOTORS @62 TGT:64-66 SL:59

BUY GREAVESCOT @9150 TGT:93.50/96 SL:89 [21-1-2010 TIME:8.55AM]

INTRADY (CASH/FUT)BUY JSWSTEEL @1044 TGT:1052-1060 SL:1035

BUY BHEL @2176 TGT:2190-2205 SL:2160

BUY RELIANCE @970 TGT:978-986 SL:962 [21-1-2010 TIME:8.55AM]

STOCK BEEPS 19-01-2011 :

-HCL Tech Q2 net profit rises 20.85% at Rs:400Cr

-Result today:Hindusthan Zinc,baja Auto,Bajaj Holdings,Infotech Enterprises,LIC Housing,Orchid Chemical,Peninsula Land,Torrent Pharma,Aptech,Noida toll

-Binani Cement announces delisting offer,issue opens on February 7 ,Closes on February 11,floor pric set at Rs:82/share

-Vodafone writes to SEBI &BSE against reverse listing of Essar Telecome,which holds 11% in JV

-RBI,SEBI slam finance ministry's move to include develepment or reforms in the financial sector as part of the mandate of FSDC

-GAIL plans to raise Rs:3500 cr to fund its Rs:7000 cr capital expenditure in the next fiscal year

-Tata Steel & JSW Steel amoung 22 companies in race to bid for rights to mine Afghanistan's richest iron ore deposit

-Petronet LNG has signed deals to source 1.1mt of LNG for the next two financial years

-Tulip Telecom plans to sell 20-30% in its subsidiary Tulip data centere for Rs:300cr to a private equity investor

-Essar Energy plans to sell convertible bonds of Rs:2275Cr of convertible bonds to fund its acquisitions,projects&refinance debt

-MOEF moots heavy fine of Rs:100Cr to Lavasa

-IOC sells govt bonds worth Rs:2464 Cr at a discount of 12% and increased its borrowings to about 28% to Rs:54000Cr

-3i Infotech received a 5-year order from Manipal Health Enterprise for its information technology infrastructure solution

-Amrutanjan healthcare board meet today to consider new business proposals

-Gayatri Projects board meet on January 21 to consider a right issue upto Rs:400Cr+to consider investing Rs:1000Cr in its subsidiary NCC Power Projecs via its sub GEVPL

-Hindustan Zinc board meet to consider results,Splits and Bonus

-Siemens :Ex dividend by Rs:17.5

1]How to Close and Delete Google Account, Gmail, Talk, Orkut, Web History and Other Google Services.

2]HOW TO: Undo “Send” in Gmail ?

3]Obama's India Trip Signals New Oppertunities for Growth.

#Ad : Unlimited Validity Bulk SMS@5paisa ! With Open Root (Send sms with out Internet/Computer)

Disclaimer:-This report has been prepared solely for information purposes. Neither the author nor his firm accepts any liability arising out of use of the above information/ article.

Market beeps 19-01-2011

2011-01-19T08:49:00.006+05:30

INDTRADAY

BUY JINDALPOLY @479 TGT:484-490 SL:470

BUY UFLEX @185 TGT:188-193 SL:179

BUY HCLTECH ABV 488 TGT:493-498 SL:482 [19-01-2011 Time:8.50am]

BUY ORCHIDCHEM(CASH/FUT)@305 TGT:310-315 SL:299

BUY APOLLOHOSPITAL @474-476 TGT:480-484 SL:468 -[19-01-2011 Time:9.33am]

APOLOHOSPITAL NEAR 1ST TGT

BUY ABB (CASH/FUT)748-749 TGT:755-761 SL:740

OPTION: BUY BAJAJ AUTO 1350CA JAN @10 TGT: 13/15/20 [19-01-2011 Time:10am]

DELIVERY

BUY NELCAST @130 TGT:134-140 SL:123

BUY REIAGRO @27 TGT:29-30 SL:25

BUY ASHOKLEYLAND @58 TGT:60-62 SL:55 (3-5DAYS HOLD) [19-01-2011 Time:8.50am]