Monday, January 9, 2012

Technical Outlook: Nifty support seen near 4720 and resistance at 4760

Market Outlook: Indian markets are to expected to open lower tracking weak Asian markets. Investors are keenly awaiting for Q3 quarterly results and IIP data this week which would direct the market trend for the week.

Global Markets: The US markets closed mixed on Friday, as even a strong government employment report was not enough to offset ongoing worries over the Eurozone debt crisis. However, all three major averages logged strong gains for the shortened trading week. And on economic data front that came on Friday, non-farm payrolls jumped 200,000 in December, according to the labor department, pushing the jobless rate to a near three-year low of 8.5%. The European markets too closed mixed as optimistic US data could not completely offset concerns about EU debt crisis.

Global events to watch:

 U.S. consumer credit for November.

Global indices Update @ 8:

Dow Jones : 12359 (-55.78)
NASDAQ : 26474 (+4.36)
Nikkei 225 : 8390 (-98.36)
Hang Seng : 18371 (-221.3)
SGX CNX Nifty : 4750 (-33.00)
Gold (USD/t oz.) : 1609
Nymex Crude (F) : 101.08
INR / 1 USD : 52.78

Technical Outlook: Nifty support seen near 4720 and resistance at 4760

Call for the day:

Sell JP Associate Sl 53 Target 45-46.
Buy GAIL SL 375 Target 395.

Stocks in action for the day: Vakrangee, Orchid Chem, OM Metals, IOB, Reliance Power

Sun Pharma , CMD Dilip Shanghvi says -Invests in small pharma companies in personal capacity -Companies have huge growth potential; need support to grow-Investments have no conflict of interest with Sun Pharma -May look at product sharing with Sun Pharma in future

JK Lakshmi Cement says: -No cement price cuts seen in Himachal Pradesh yet -Might witness increase in demand in next few months -Plan to hike capacity to 10 mt by end of next year

Vakrangee Software Q3FY12 QoQ -Net sales up 9% at Rs 341 crore versus Rs 312 crore -PAT up 6% at Rs 17 crore versus Rs 16 crore -Total Exp up 8% at Rs 301 crore versus Rs 278 crore -EBITDA up 25% at Rs 65 crore versus Rs 52 crore -EBITDA Margin at 19.1% versus 16.7%
Sterlite set to bid for remaining Balco stake: Vedanta Group aluminium refiner Sterlite is expected to shortly make a formal proposal for acquiring the Government's residual stake in aluminium major Balco.

5 solar power units to be set up in AP: Anjani Power Generation Private Ltd will set up four solar power units in Andhra Pradesh. Each of the units will have a capacity of 5 MW

Commercial vehicle maker Man Force Trucks announced its foray into the bus segment and said the company is eyeing a 50 per cent jump in overall sales at 6,000 units this year.

Srei Infra to launch debt fund thru MF route: Srei Infrastructure Finance Ltd plans to launch an infrastructure debt fund through the mutual fund route. The debt fund is likely to be launched in the next fiscal

German auto component-maker Continental will invest over Rs 800 crore in India over the next two years to strengthen its operations here,

In a major breather, GMR Infrastructure, which is building Maldives' largest airport, the Male International Airport will now be able to collect airport development (ADC) and insurance charges from this month.

State-run power producer National Thermal Power Corposration (NTPC) plans to foray into power distribution across the country in a big way.

The UK-based bus manufacturer Optare Plc’s shareholders have given approval for Hinduja Group-owned Ashok Leyland and associates to increase their stake to 75.1 per cent in it.

Overseas investors have pumped nearly Rs 6,500 crore in the market, including stocks and bonds, in the first week of the New Year. Between January 2 and 6, FIIs purchased equities and debt securities worth a gross amount of Rs15,168 crore. However, they also sold shares and bonds worth Rs8,674 crore in the same period, translating into a net investment of Rs6,494 crore , according to information available with market regulator Sebi.

Facing a resource constraint Railways has come up with a draft policy which seeks increased private participation and opens the doors for foreign direct investors for expanding its network. It has proposed six PPP models for project execution that includes creating railway connectivity on private land.

Kingfisher Airlines is downsizing. Over the next few months, the airline may cut its fleet from the existing 64 planes as it struggles to stay afloat.

The finance ministry is likely to get about Rs9,000 crore extra in the next budget if the government restructures centrally sponsored schemes as recommended by an expert committee.

Tata Power said the first 800 MW unit of the Mundra Ultra Mega Power Project (UMPP) has started power generation.

India’s cement manufacturing capacity may go up to 479 million tones by the terminal year of the 12th Plan, ending 2017, despite the existing over-capacity scenario, as per projections made by a Planning Commission Working Group on the sector.

Reliance Power gets access to 2 NCL blocks, company to benefit over Rs 6000 crore

Finance Ministry to infuse fresh Rs 1400 crore in Indian Overseas Bank (IOB) as Capital Support

OM Metals Infraprojects Consortium in talks with developers to develop Bandra plot worth Rs 800 crore

Orchid Chemical approves merger of Orchid Research Labs Ltd with Self
Gail to replace JP Associates in Sensex from today
Stocks in F&O Ban - Ruchi Soya and Gitanjali Gems
Oilmin Seeks Cabinet Nod for Cairn-Vedanta’s $8.5-b Deal
AV Birla Group eyes Lafarge's S-Africa biz


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