Insider Trades:
Bajaj Auto Finance Ltd: Mr. Dipak Poddar, Managing Director has sold in open market 60000 equity shares of Bajaj Auto Finance Ltd on 23rd February, 2007.
Esab India Ltd: HDFC Mutual Fund:- a) HDFC Children's Gift Fund - Investment Plan, b) HDFC Prudence Fund has purchased from open market 164000 equity shares of Esab India Ltd on 27th February, 2007.
TV Today Network Limited: Reliance Capital Limited has purchased from open market 6918327 equity shares of TV Today Network Limited on 28th February, 2007.
Market Volumes:
The turnover on NSE was down by 20% to Rs100.6bn. BSE Technology index was the major gainer and gained 3.36%. BSE Bank index (up 2.75%), BSE Consumer Durable index (up 2.04%) and BSE Capital Good index (1.84%) were among the other major gainers. However, BSE Auto index lost 0.77%.
Volume Toppers:
IFCI, Indian Bank, IDFC, SAIL, ITC, R Com, India Cement, IVRCL Infrastructure, Nagarjuna Construction, HCC, TTML, Satyam Computer, HLL, Ashok Leyland, Balrampur Chini, Reliance Industries, Indiabulls, Tata Steel and Firstsource.
Upper Circuit Filters:
Shah Alloys, Goldstone Technology, Fedders Lloyd, Electro Therm, Flawless Diamond, Jay Bharat Textile, Ansal housing and IOL Broadband.
Delivery Delight:
Adlabs Films, Amtek India, Bank of India, Cadila Healthcare, GTC Industries, Gujrat State Petronet, GVK Power, IFCI, Jain Irrigation, Kirloskar Brothers, LIC Housing, Mysore Cements, Opto Circuits, Patni Computer, Radiko Khaitan, Reliance Capital, Siemens, Suzlon, TVS Motor and Wockhardt.
Brokers Recommendation:
HLL – Buy from Motilal Oswal with target of Rs240.
Long Term investment:
Indotech Transformers.
Major News Headlines:
Tata Motors Feb sales up 19%
M&M Feb sales up 19%, tractor sales up 5.2%
Hero Honda Feb sales up 11.9%
Bajaj Auto Feb sales down 1.7%
Maruti Feb sales up 53%, to raise prices from 15th March
TVS Feb sales up 10%
Wochhardt board to consider interim dividend on March 8
JSW Steel raises Hot-rolled Coil prices by Rs1200 per ton
Colgate Board to mull second Interim Dividend on March 9
Union Bank may earn Rs350mn in interest on Cash Reserves
Govt to provide Rs13bn grant to IFCI