Daily Market Snippets

US markets were POSITIVE & Asian markets are trading POSITIVE.
Levels for NIFTY - support at 4283-4269-4255 & resistance at 4311-4326-4340.

Bias for markets is Cautious for the day…

Crompton Greaves Ltd's (CGL) revenues grew by 25% year on year (yoy) in Q4FY2007 to Rs990.0 crore. The revenues were slightly below our expectations. We have revised price target to Rs280.

View Point on SREI Infrastructure Finance. SREI Infrastructure Finance (SREI) and BNP Paribas Lease Group (BPLG), the leasing arm of BNP Paribas, have reached an agreement regarding a strategic partnership in equipment finance in India.

Tata Tea will acquire 10.74% from promoters & also they will apply for preferential offer of 15%. That will make 24% of Mount Everest of capital.
Trina M (sharekhan): Rumor in the market about Cement import norms eased (Business Line).

Imp. Results today: Balkrishna Ind, Mcleod Rusel, Nocil, Onward Technologies,

Stocks with +ve bias: MTNL, Punj Lloyd,

Stocks with short term Delivery: Aurobindo Pharma, 3i Infotech, MICO, HOEL

Stocks for investment: Bharat Bijlee, HDFC Bank, CEAT, Crompton Greaves, Ahmednagar forging, Indotech Transformers, JP Associates, Saregama India, Thermax