Monday, October 26, 2009

BOR: Market Outlook: Indian market will have flat to positive opening today on the back of recovery seen on the asian peers.

Market Outlook: Indian market will have flat to positive opening today on the back of recovery seen on the asian peers. Nifty has supports at 4920-4950 and resistances are at 5050-5100. The market has been volatile over last week In such conditions booking profit on the rise is a better idea to reduce long positions exposure. Overally the trend is still intact up and there is no sign of weakness as yet and if the market closes above 5100 then we have a good upside with interim targets at 5250 for short term.

Results today: Idea Cellular, OBC, Ranbaxy, Tata Motors, Tata Communications, Aban Offshore, Bharati Shipyard, Dabur India, GMR Infra, IDBI Bank, NIIT, TV Today, Union Bank, United Breweries, UB Holdings, United Spirits, Welspun Gujarat, Areva T&D, Bharat Bijlee, Bosch, Canara Bank, Castrol India, Dena Bank, DS Kulkarni, Engineers India, ENIL, Geometric, GMDC, Granules India, Harrisons Malayalam, Hindustan Motors, HOV Services, HT Media, India Glycols, Indowind Energy, JB Chemicals, Kalindee Rail, Kalpataru Power, Lupin, M&M Financial, Mahindra Lifespace, Mangalore Chemicals, MIC Electronics, Mindtree, Motherson Sumi, Navin Fluorine, Neyveli Lignite, Omax Autos, OnMobile, PNB Gilts, Rei Agro, Rei Six Ten Retail, Resurgere Mines, Roman Tarmat, Sona Koyo, SREI Infra, Tata Elxsi, Texmaco, United Phosphorous, Whirlpool

Global events to watch for today:

  • 4-Week Bill Announcement
  • 3-Month Bill Auction
  • 6-Month Bill Auction

Global indices Update @ 9:

Dow Jones : 9972 (-109.13)

Nasdaq : 2154 (-10.82)

Nikkei 225 : 10382 (+99.90)

Hang seng : 22589 (+379.2)

SGX CNX Nifty : 5019 (+12)

INR / 1 USD : 46.45

On the global counter: Wall Street declines; Dow ends down 109 points while Asian markets trading firm; Nikkei, Seoul Composite up. The earnings-fueled rally fizzled on the Wall Street on Friday as investors began to lock in some profits. Microsoft's results smashed Wall Street expectations sending its shares up 8%. Although its profit fell 18%, this was far better than what analysts had estimated. Sales also fell 14% but again managed to beat street estimates. Amazon too reported better-than-expected third quarter profit and stronger sales outlook. The company gave a fourth-quarter revenue projection between 8 to 9 billion dollars. The online retailer earned 45 cents a share in its third quarter on sales of 5.45 billion dollars.

Stocks in action for the day: Tata Tea, TCS, PTC, Rei Agro, GAIL, RIL

SEBI allows exchanges to extend trading between 9am-5pm

RIL says committed to drilling 3 more wells in D9 block RIL Says -Marketing margin not in violation of govt, EGoM (Empowered Group of Ministers) decisions -Marketing margin in line with General Industry Practice -Margin in consideration for risks & costs in marketing of gas Reliance Infrastructure says RIL continues to charge marketing margin without govt approval

Reliance Communications: -See no additional liability on account of special audit-Have completed review of audit report -Audit estimates of Rs 316 crore liability is incorrect

TCS plans to bid with CMC for Rs 5K cr UID projects: Tata Consultancy Services (TCS) plans to bid jointly for this opportunity along with CMC, a government-focused subsidiary it acquired some eight years ago. projects worth almost Rs 5,000 crore to set up the country’s unique citizen database.

HCC's Lavasa Corp to raise Rs 2,000 cr through IPO next year: Lavasa Corporation, a subsidiary of Mumbai-based Hindustan Construction Company, plans to raise around Rs 2,000 crore through an initial public offering during the second half of next year. In the last one year, the company has raised Rs 650 crore by offloading 6.5 per cent equity to various banks like Axis Bank, Allahabad Bank and Bank of India, valuing the firm at Rs 10,000 crore. In the quarter ended September, Andhra Bank and United Bank of India invested Rs 75 crore in Lavasa Corporation through Deep Discounted Convertible Debentures

3G Auction update: -Start of 3G auction on January 14, 2010 -Pre-bid conference on November 16, 2009

Aircel's Tower -Last round of bids for Aircel's Tower business over -Quippo Telecom, GTL, ATC & Bharti Infratel final bidders -Bid value ranges around $1.5 billion

Tata Group set for consolidation again, to merge Tata Coffee and Mount Everest Mineral with Tata Tea

PTC board gives go ahead for fund raising plans ((size not given))

Thinksoft Global to list today, issue price Rs 125

Rei Agro board approves issue of FCCBs up to $100 million

Jai Balaji board approves Rs 198.5 crore QIP issue

GAIL may be allowed to levy marketing margins on gas

Nissan, Ashok Leyland to roll out LCVs separately

Aban, Kingfisher still in NSE F&O curb

Compact Disc board approves investment of $3 million wholly owned US subsidiary



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1 comment:

lavasalocal said...

Lavasa is now blogging at
http://blog.lavasa.com/