Stock Martket BSE

US mkts off days high | Europe mixed

admin — Wed, 10 Mar 2010 03:13:59 +0000

US markets were off days high on one-year anniversary of the March 2009 lows; dollar paired its gain during the day. Dow Jones ended up 12 points at 10,564, off 48 points from days high of 10612, Nasdaq ended up 8.5 points at 2341, off 12 points from days high of 2353 and S&P 500 ended up 2 points at 1141, off 4 points from days high of 1145. US financial were in focus post talks that government wants to exit 27% stake in Citi. Dow Futures were flat.

In Europe, CAC, DAX were up 0.17% while FTSE was down 0.1%. CBOE VIX was up 0.7% at 17.9. SGX Nifty was up 0.37%.

European News:

Fitch kept a Negative outlook in place for Portugal’s AA rating. Britain’s plan to halve its deficit in four years was determined to be too slow.

Global News:

Japanese machinery orders fell 3.7% in January from December when they increased 20.1%.

Global Movers & Shakers:

Citigroup was up 7.3%, AIG was up 12.6%, Fannie Mae was up 6%, Freddie Mac was up 5% amid speculation that the government may be planning to restrict short sales on companies it bailed out and currently owns stock in. Citi also rallied on back of buzz that government wants to sell its 27% in the bank and the bank could float preferred-stock offering very soon.

Commodities:

CRB Commodity Index was down 0.6%. Crude oil was down 0.5% at $ 81.49/bbl. April gold closed down 0.1% at $ 1121.8/pounce after trading nearly 1.5% lower in the morning. May silver was up 0.4% at $ 17.34/ounce after being down in excess of 2% in the morning. Baltic Dry Index was down 1.5%, fell for the first time in almost two weeks.

Currencies:

Dollar Index was up 0.1%, was trading up nearly 1% during the day. Dollar was up 10 bps Vs Euro 1.359. Yen depreciated 13 bps Vs USD at 90.

Govt says ONGC planning Rs 26,523 Cr spend on oil, gas hunt in FY11 – NW18

admin — Wed, 10 Mar 2010 03:11:25 +0000

Govt says ONGC planning Rs 26,523 Cr spend on oil, gas hunt in FY11; ONGC’s FY11 oil output seen at 25.42 mt, FY12 at 26.58 mt: NW18

Government said that ONGC is planning Rs 26,523 crore spend on oil, gas hunt in FY11, reports CNBC-TV18 quoting NW18. It said ONGC’s FY11 oil output is seen at 25.42 mt and that of FY12 at 26.58 mt. The company’s FY10 Debt-GDP ratio is estimated at 57% and FY11 at 56.9%.

Government said that it is yet to finalise design, rates of goods & services tax. Output cost of Cairn’s Barmer crude is estimated at $ 5.50/bbl. It said that there are no plans to withdraw additional excise duty on auto fuels. RBI is considering regulatory reporting of CP, CD trades.

Free Day Trading Stock Tips – 09 March 2010

admin — Tue, 09 Mar 2010 02:44:53 +0000

Sell MphasiS around Rs 673.30-662.70, stop loss Rs 679, cover short at Rs 646.30-619.30

Buy ABB with stop loss of Rs 826 for targets of Rs 865-Rs 876

BUY Apollo Tyres Stop Loss 62 Target 72

SHORT SELL Bank of Rajasthan Stop Loss 69 Target 58

Free Intraday Stock Tips – 08.03.2010

admin — Mon, 08 Mar 2010 02:55:28 +0000

BUY Punj Lloyd Stop Loss 179 Target 205

BUY Mahindra Satyam Stop Loss 96 Target 119

Buy ING Vysya Bank around Rs 275.70-281.10, stop loss Rs 272, book profit at Rs 290.20-304.70

Sell ONGC around Rs 1106-1099, stop loss Rs 1110, cover short at Rs 1088-1070

US markets ended higher on the back of strong economic data

admin — Fri, 05 Mar 2010 03:13:19 +0000

US markets ended higher on the back of strong economic data; ahead of official jobs report today. Dow Jones ended up 48 points at 10444, Nasdaq ended up 11.6 points at 2292 and S&P 500 ended up 4 points at 1123. Dow Futures were up 0.1%.

Asian stocks rose for the fourth time in five days. Nikkei 225 was up 2.2% on reports that Bank of Japan may further loosen monetary policy. Taiwan Weighted was up 1.6%, Kospi was up 0.8%, Straits Times was up 0.7% and Shanghai Composite was up 0.5%. In Europe, CAC was down 0.37%, DAX was down 0.39% and FTSE was down 0.11%. CBOE VIX was down 0.6% at 18.7. SGX Nifty was up 0.6%. Germany & Greece meeting today.

US Economic News:

Initial jobless claims for the week ended February 27 stood down 29,000 at 469,000. Continuing claims dropped more than expected to 4.50 million. February same-store sales stood up 1.3%, ahead of market expectations. Pending home sales for January fell 7.6% MoM, against expected increase of 1%. January factory orders stood up 1.7%, in line with expectations. 4Q non-farm productivity stood up 6.9%, exceeded forecast of 6.3%.

Global News:

ECB & BoE kept target interest rates unchanged. China pledged to pare spending on roads, railways and airports and boost outlays on health and social security. Bank of China says “to strictly control monthly lending supply, to seek right time to raise funds via HK stock market”.

Commodities:

April Crude Oil stood down 0.8% at $ 80.21/bbl. April Gold stood down 0.9% at $ 1133/ounce. May Silver stood down 0.9% at $ 17.18/ounce. Baltic Dry Index stood up 7.2% (gained 4.2% a day ago) as around 50 ships were stuck in the ice in the Baltic Sea.

Currencies:

Dollar Index gained 0.7%. Dollar appreciated 83 bps Euro at 1.357. Yen depreciated Vs USD at 89.23.

Data to watch:

February jobs report; consumer credit

Maytas Infra’s financial turn around in process

admin — Fri, 05 Mar 2010 03:10:56 +0000

Company reached repayment settlement with HDFC Bank; to pay only 50% of outstanding loan of Rs 100 Cr; stock up

Maytas Infra’s financial turn around is in process. The company has reached repayment settlement with one of its lenders, HDFC Bank. The company will pay only 50% of the outstanding loan of Rs 100 crore. Some Other banks have also given assent to a similar proposal. About 14 banks had extended loans of Rs 2,000 crore to Maytas. The company is also looking to raise $ 200 million through a QIP.

Maytas Infra touched an intra day high of Rs 187.50 and an intra day low of Rs 158.15 and at 14:59 PM, the share was quoting at Rs 185.90, up Rs 27, or 16.99%, trading with volumes of 3,102,806 shares, compared to its 5-day average of 230,331 shares, an increase of 1,247.11%. Yesterday the share closed up 3.05% or Rs 4.70 at Rs 158.90.

Free Day Trading Stock Tips- 5 March 2010

admin — Fri, 05 Mar 2010 03:02:03 +0000

Buy Canara Bank around Rs 416.40-425.60, stop loss Rs 411.20, book profit at Rs 440-463.60

Sell MphasiS around Rs 680.70-673.30, stop loss Rs 686, cover short at Rs 660.70-640.70

Buy Coromandel Fertilizer with stop loss of Rs 287 for a target of Rs 340

BUY HDIL Stop Loss 308 Target 332

NMDC $ 3 Bn share sale to open March 10

admin — Thu, 04 Mar 2010 03:34:58 +0000

A share sale in state-run miner NMDC Ltd to raise about $ 3 billion will open on March 10, and follow the standard book-building system for Indian offerings reports CNBC-TV18 quoting Sources. A price band for the issue will be announced on March 8, two of the sources, who did not wish to be named as they were not authorised to speak to the media, said on Wednesday.

Retail investors and NMDC employees are likely to get a discount of 5 percent to the discovered price, the sources said.

Infosys unit in Chandigarh SEZ under the Revenue Department’s scanner – Sources

admin — Thu, 04 Mar 2010 03:33:03 +0000

Infosys’ unit in the Chandigarh special economic zone (SEZ) is under the Revenue Department’s scanner, reports CNBC-TV18, quoting sources. The unit located at the Chandigarh Technology Park SEZ was developed by the Chandigarh administration.

Sources say the Revenue Department alleges gross violations of SEZ norms and that structures were in place prior to the SEZ approval. SEZ norms need vacant land before approval. Mundra Port and Essar SEZs in Gujarat faced similar issues. The Empowered Group of Ministers (EGoM) cleared the Mundra Port and Essar SEZ of violations in 2008.

The Revenue Department alleges that existing IT campuses were converted to SEZ and that the SEZ board of approval was misled. The department has called for the withdrawal of SEZ status. Sources say the Commerce and Revenue Secretaries are likely to discuss the matter soon.

When contacted, Infosys says it has complied with the SEZ regulations. The site has been inspected by authorities and full disclosure has been given to the board of approvals. “No existing campuses have been converted to SEZ.”

Income Tax Department has raided Bhushan Steel and Bhushan Power & Steel – Sources

admin — Thu, 04 Mar 2010 03:31:12 +0000

The Income Tax Department has raided Bhushan Steel and Bhushan Power & Steel, reports CNBC-TV18 quoting Sources. The operations were conducted nationwide on 48 premises, both business and residential. Operations were conducted in Delhi, Chandigarh, Kolkata, Orissa, Ranchi, Mumbai, Raigarh, and Ghaziabad.

A total of 11 premises were searched under section 132 of the Income Tax Act while 37 premises were surveyed under section 133A.

Alleged bogus expenses and cash sale outside the books of accounts is the likely cause for the raids. The Delhi Investigative Wing of the I-T Department is heading the raid operations.

When contacted, Bhushan Steel says it is not aware of any raid operations