Daily Technicals - Feb 27 2008
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Recommendations
Tuesday, February 26, 2008
Key Highlights - Railway Budget
Railway Minister Lalu Prasad Yadav announced his fifth Railway budget 2008-09 today (Feb 26, 2008). Key highlights of the Railway Budget are as follows:
> Revenue from passenger fares rose 14% in 2007-08
> In April-December, revenue from frieght services climbed 8-10% to Rs 347 billion
> Additional frieght services of Rs 20 billion
> Cash surplus of Rs 250 billion
> Operating ratio at 76%
> Dividend of Rs 88
> Railway fund balance up at Rs 204.80 billion
> Reduced fares helped to increase volumes and profits
> Productivity of railway assets have been constantly increasing
> Adopted tariff to go up market share and revenues
> To produce only stainless steel coaches from FY10
> To link train via software communications by 2009
> New coaches in all Shatabdi Trains by 2011
> To have online contol of trains in 2 years
> New coaches in all Rajdhani Trains by 2009
> Plan to spend Rs 750 bn on infrastructure over 7 years
> Stainless steel coaches likely to benefit steel companies viz. JSW Steel, Jindal Stainless,
Tata Steel, BEML, Texmaco
> 25 - 20 Tonne Axle Loads trains to be started
> Thrust on IT likely to benefit domestic software companies
> To manufacture 20,000 Wagons by FY09
> 50 new terminals planned in Mumbai, Pune, Ghaziabad
> To have new Wagon Leasing Policy
> 200 MT tariff seen from cement in 2011 - 12
> Container Corporations ( CONCOR ) to set up 8 Depots
> To have new policy for Bulk Handling Terminals
> Annual steel traffic aim at 200 million tonnes (MT) by 2011 from 120 MT now
> ETA Display in the long route trains likely to benefit MIC Electronics
> Rs 40 billions to come from real estate development in 2008-09
> Connectivity to Mundra likely to benefit Mundra SEZ, Tata power, Reliance Energy.
> Focus on increased security at railway stations
> Gangmen could become Gatemen in unmanned process
> Planning smart card based ticket system
> Senior citizen women to get a relief of 50% from 30% now
> More facilties to be provided to old and women passengers
> Plan fire prevention device in train coaches on pilot basis, it could cost Rs 70 billions if implemented fully
> CCTV, metal detectors to be installed in all railway stations
> CFL`s to be used in order to encourage power saving
> Doubling of lines to be given priority
> Coach factory to be set up in Kerala, Kerala Government has given 1000 acres land for its
development
> Railways to provide escalators at 50% of the railway stations
> Mother Child Health Express likely to be started
> Fares cut announced by Railway Minister
> Sleeper fare cut upto 5% across the board, Re 1 discount to all fares upto Rs 150
> AC I fares to cut by 7%, AC II by 4% and AC III by 3%
> Frieght on petrol and diesel cut by 5%
> Frieghtrates on FLY ASH cut by 14%
Market Wrap - Feb 26 2008
On Tuesday, BSE Sensex ended the day with a gain of 155.62 points, or 0.88%, at 17,806.19, while the broad-based NSE Nifty closed at 5,270.05, up 69.35 points, or 1.33%.
The 30-share benchmark index, Sensex, opened with a positive gap of 148.99 points at 17,799.56 mirroring buoyant global cues in the early trades. Later, the index proceeded to trade in the positive terrain on account of sustained buying activity in frontline stocks. Finally, the index closed on a firm note after touching an intraday high of 17, 860.10.
Global markets
Asian stocks advanced on Tuesday (Feb. 26, 2008) after the world`s largest bond insurers retained top credit ratings which eased concerns that the global economic growth will slow on new credit losses.
Market statistics
Out of the total 2,785 stocks traded at the BSE, 1,652 advanced, 1,074 declined while 59 remained unchanged.
Among the sectoral indices, BSE Auto rose 0.54%, Metal rose 1.64%, Power gained 2.65%, BSE Realty moved up 2.53%, IT gained 1.76%, while BSE Bankex shed 0.75%.
Movers and Shakers
Gainers at the Sensex were Grasim, which vaulted 5.06% to close at Rs 3042.70, REL and BHEL rose over 4% each to Rs 1697.25 and Rs 2180.55 respectively. Infosys, HDFC Bank, HUL, ACC, ONGC, Wipro and ICICI Bank were among the other gainers.
Laggards at the BSE Sensex include Bharti Airtel, which dropped 1.38% to end at Rs 838.80, HDFC fell 0.48% to Rs 2574.35 and Tata Motors declined 0.46% to close at Rs 702.10.
Top Turnover
Reliance Power topped the turnover chart with Rs 2,993.5 million followed by Reliance Capital with Rs 1,642.1 million.
Sail, Tata Steel, SBI February 2008 futures at discount
Turnover in F&O segment increases
Nifty February 2008 futures were at 5259.35, at a discount of 10.7 points as compared to spot closing of 5270.05.
The NSE's futures & options (F&O) segment turnover was Rs 56,515.69 crore, which was higher than Rs 51,314.54 crore on Monday, 25 February 2008.
Steel Authority of India (Sail) February 2008 futures were at discount, at 245, compared to the spot closing of 246.60.
Tata Steel February 2008 futures were at discount, at 803.75, compared to the spot closing of 809.60.
State Bank of India (SBI) February 2008 futures were at discount, at 2115, compared to the spot closing of 2124.50.
In the cash market, the S&P CNX Nifty gained 69.35 points or 1.33% at 5270.05.
NSE Bulk Deal Watch - Feb 26 2008
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
26-FEB-2008,CANDC,C & C Constructions Limit,HDFC TRUSTEE CO A/C HDFC INFRASTRUCTURE FUND,BUY,676000,210.00,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ADITI FINLEASE PVT. LTD.,BUY,135478,136.21,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ADROIT FINANCIAL SERVICES PVT LTD,BUY,72062,135.77,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,AMBIT SECURITIES BROKING PVT. LTD.,BUY,210287,137.26,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ANIL M PARMAR,BUY,66163,137.40,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASHU GUPTA,BUY,175104,139.15,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,BUY,180539,134.61,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASSET ALLIANCE SECURITIES PVT. LTD.,BUY,135274,136.93,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASTRAL FINANCE,BUY,20000,139.55,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,62448,136.37,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,BHAVIN SURESH CHHEDA,BUY,141135,137.48,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,CHURIWALA SECURITIES PRIVATE LIMITED,BUY,77937,138.35,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,CPR CAPITAL SERVICES LTD.,BUY,425836,137.17,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,CREDENTIAL STOCK BROKERS LIMITED,BUY,170775,136.75,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,DEPANSU SECURITIES (INDIA) PVT LTD,BUY,197234,138.10,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,DINDAYAL BIYANI STOCK BROKERS LTD.,BUY,67478,137.73,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,DINESH MUNJAL,BUY,586288,138.14,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,FIN BRAINS SECURITIES (INDIA) LTD.,BUY,260934,135.27,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,G RAMAKRISHNA,BUY,83000,140.42,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,HARBUX SINGH SIDHU,BUY,673702,140.05,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,INDU MAHENDRA SHAH,BUY,86368,139.93,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,JAIN LALITKUMAR C,BUY,84996,137.77,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,JIGNESH ENTERPRISES,BUY,85135,135.06,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,KAKANI OMPRAKASH,BUY,395604,137.99,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,KHANDWALA TRADELINK CO,BUY,170835,139.79,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,KIRTIKUMAR KANTILAL SHAH,BUY,100000,138.75,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,LATIN MANHARLAL SECURITIES PVT. LTD.,BUY,234269,138.18,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,MAHENDRA DHANJI CHHEDA,BUY,265433,136.77,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,MANISH VRAJLAL SARVAIYA,BUY,213960,136.85,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,MUKESH BROKERAGE & FINANCIAL (INDIA) LTD.,BUY,73858,136.82,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,NARENDRAKUMAR CHORDIA,BUY,141074,139.69,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,NEERU BANSAL,BUY,238128,139.11,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,NISSAR BROTHERS,BUY,178628,135.62,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,P RAMESH CHANDRA,BUY,65461,136.43,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PAVAN JAIN (HUF),BUY,106955,137.12,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PRASHANT JAYANTILAL PATEL,BUY,220807,137.06,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PRAVIN JUMKHALAL SHAH,BUY,300301,138.17,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PUJA TAPARIA,BUY,75000,139.96,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,R APPALA RAJU,BUY,220000,137.92,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,R.M. SHARE TRADING PVT LTD,BUY,514960,136.84,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,RADHIKA DIPAN MEHTA,BUY,108244,135.68,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,RUPESH KIRIT DALAL,BUY,369803,139.50,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,S SIVAKUMAR,BUY,174101,139.90,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SANJAY BHANWARLAL JAIN,BUY,593160,138.70,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SATYA FINANCIAL SERVICES PROP ADARSH KUMAR AGGARWAL,BUY,72000,134.68,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SHAH HEMANG DINESH,BUY,437303,139.04,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SHANTANU GUPTA,BUY,70000,139.44,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SHETH BROTHERS,BUY,123083,139.32,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SUNIL PANDURANG MANTRI,BUY,123311,137.57,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,TRANSGLOBAL SECURITIES LTD.,BUY,1030186,137.62,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VELBAI KHIMJI CHHEDA,BUY,465327,139.09,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIJAY KUMAR RAMAVAT,BUY,367803,136.48,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIMALA.S.,BUY,64321,141.65,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIMESHDOSHI,BUY,96373,138.51,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIREN RAMNIKLAL KENIA,BUY,105560,139.79,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,YES INVESTMENTS VISHAL KISHORE BHATIA,BUY,185000,136.95,-
26-FEB-2008,CANDC,C & C Constructions Limit,ADVANTAGE ADVISORS BLACKSTONE ASIA ADVISORS,SELL,676365,210.00,-
26-FEB-2008,SAKHTISUG,Sakthi Sugars Ltd.,MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. SVB,SELL,225000,78.09,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ADITI FINLEASE PVT. LTD.,SELL,137478,136.53,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ADROIT FINANCIAL SERVICES PVT LTD,SELL,72062,135.82,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,AMBIT SECURITIES BROKING PVT. LTD.,SELL,215287,137.00,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ANAND YOGESH SHARES AND CONSULTANCY PVT LTD,SELL,215596,138.89,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ANIL M PARMAR,SELL,66163,137.27,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASHU GUPTA,SELL,175104,139.22,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASHWIN STOCKS AND INVESTMENT PRIVATE LIMITED,SELL,180539,135.93,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASSET ALLIANCE SECURITIES PVT. LTD.,SELL,135274,137.42,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASTRAL FINANCE,SELL,70000,129.07,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,70948,136.15,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,BHAVIN SURESH CHHEDA,SELL,141135,137.63,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,CHURIWALA SECURITIES PRIVATE LIMITED,SELL,77937,138.28,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,CPR CAPITAL SERVICES LTD.,SELL,425836,137.28,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,CREDENTIAL STOCK BROKERS LIMITED,SELL,170775,136.90,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,DEPANSU SECURITIES (INDIA) PVT LTD,SELL,197234,138.16,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,DINDAYAL BIYANI STOCK BROKERS LTD.,SELL,67478,138.78,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,DINESH MUNJAL,SELL,586288,138.34,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,FIN BRAINS SECURITIES (INDIA) LTD.,SELL,260934,135.55,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,G RAMAKRISHNA,SELL,83000,139.74,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,HARBUX SINGH SIDHU,SELL,673702,140.07,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,INDU MAHENDRA SHAH,SELL,86368,140.03,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,JAIN LALITKUMAR C,SELL,84996,137.98,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,JIGNESH ENTERPRISES,SELL,85135,135.24,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,KAKANI OMPRAKASH,SELL,395604,138.24,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,KHANDWALA TRADELINK CO,SELL,170835,139.66,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,LATIN MANHARLAL SECURITIES PVT. LTD.,SELL,237269,138.26,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,MAHENDRA DHANJI CHHEDA,SELL,271007,136.96,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,MANISH VRAJLAL SARVAIYA,SELL,213960,137.16,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,MUKESH BROKERAGE & FINANCIAL (INDIA) LTD.,SELL,73858,137.01,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,NARENDRAKUMAR CHORDIA,SELL,142074,140.06,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,NEERU BANSAL,SELL,238128,139.07,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,NISSAR BROTHERS,SELL,178628,135.77,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,P RAMESH CHANDRA,SELL,65461,136.56,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PAVAN JAIN (HUF),SELL,106955,137.21,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PRASHANT JAYANTILAL PATEL,SELL,220807,137.17,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PRAVIN JUMKHALAL SHAH,SELL,301801,138.29,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,PUJA TAPARIA,SELL,75000,140.76,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,R APPALA RAJU,SELL,220000,137.46,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,R.M. SHARE TRADING PVT LTD,SELL,514960,137.06,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,RADHIKA DIPAN MEHTA,SELL,108244,135.99,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,RUPESH KIRIT DALAL,SELL,369803,139.92,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,S SIVAKUMAR,SELL,174101,140.43,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SANJAY BHANWARLAL JAIN,SELL,593160,138.81,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SATYA FINANCIAL SERVICES PROP ADARSH KUMAR AGGARWAL,SELL,72000,135.00,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SHAH HEMANG DINESH,SELL,437303,139.06,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SHANTANU GUPTA,SELL,70000,134.79,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SHETH BROTHERS,SELL,118083,139.72,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,SUNIL PANDURANG MANTRI,SELL,123311,137.50,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,TRANSGLOBAL SECURITIES LTD.,SELL,1030190,137.73,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VELBAI KHIMJI CHHEDA,SELL,471737,139.12,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIJAY KUMAR RAMAVAT,SELL,377118,137.12,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIMALA.S.,SELL,64321,140.70,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIMESHDOSHI,SELL,96373,138.85,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,VIREN RAMNIKLAL KENIA,SELL,105560,139.44,-
26-FEB-2008,TULSI,Tulsi Extrusions Limited,YES INVESTMENTS VISHAL KISHORE BHATIA,SELL,185000,139.36,-
BSE Bulk Deals to Watch - Feb 26 2008
Deal Date Scrip Code Scrip Name Client Name Deal Type * Quantity Price **
26/2/2008 531223 ANJANI SYNTH NATRAJ FINANCIAL AND SERVICES LTD B 257158 57.79
26/2/2008 531223 ANJANI SYNTH ANKIT NARENDRA BAHUVA B 70054 57.10
26/2/2008 531223 ANJANI SYNTH NATRAJ FINANCIAL AND SERVICES LTD S 257158 57.90
26/2/2008 532475 APTECH LTD HSBC FINANCIAL SERVICES MIDDLEEAST LIMITED S 400000 227.50
26/2/2008 524663 BHARAT IMUNO SHAH VIJAY CHANDULAL HUF B 70000 27.91
26/2/2008 524663 BHARAT IMUNO NALINI VIJAY SHAH S 70004 27.90
26/2/2008 590059 BIHAR TUBES JAGAN INDUSTRIES LTD B 50000 142.85
26/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN B 879588 9.75
26/2/2008 531682 CAT TECHNOL SARFARAZKHAN SARVARKHAN PATHAN S 905038 9.64
26/2/2008 501827 CEN PRO RAIL RAJESH RAILYA S 5205 160.10
26/2/2008 532397 CONTECH SOFT PRAMOD PESTICIDES PVT. LTD. B 30000 13.95
26/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN B 1586623 9.29
26/2/2008 532271 CYBERMAT INF SARFARAZKHAN SARVARKHAN PATHAN S 1666604 9.05
26/2/2008 532857 GLORY POLY INTEGRAL VINIMAY PRIVATE LTD B 120631 103.33
26/2/2008 505893 HIND HARDY S KANTA DEVI RATHI B 8000 84.10
26/2/2008 505893 HIND HARDY S KANTA DEVI RATHI S 8000 80.35
26/2/2008 531314 INTEGRA CAPI SUSHIL KUMAR VOHRA S 25000 4.05
26/2/2008 523062 J J FINANCE SINKI COMMODITIES PVT LTD B 40000 11.68
26/2/2008 523062 J J FINANCE MANOJ KUMAR AGARWAL S 40000 11.68
26/2/2008 513250 JYOTI STRUCT ABN AMRO BANK N.V. LONDON S 803203 208.00
26/2/2008 530771 KLG CAPI SER URMILA GARG S 17131 36.21
26/2/2008 531241 LINC PEN PLA SUNIANA MARKETING PVT LTD B 115000 40.20
26/2/2008 531241 LINC PEN PLA SHREE BALAJI SAREES PVT LTD S 100000 40.16
26/2/2008 517417 PATEL AIRTEM ASTER BUSINESS RESEARCH PVTLTD PMS S 30800 71.00
26/2/2008 532669 SOUTHBIOTEC MACKERTICH CONSULTANCY SERVICES P VT LTD B 150000 35.25
26/2/2008 532669 SOUTHBIOTEC VATICAN COMMERCIALS LTD S 150000 35.25
26/2/2008 530585 SWASTIK INV MADHOPRASAD ISWARPRASAD JAJODIA HUF B 20000 36.85
26/2/2008 530585 SWASTIK INV SONAL TUSHAR SHAH S 20000 36.85
26/2/2008 531703 TRIBHVAN HSG GOPALA PILLAI VIJAYAKUMAR B 45000 25.30
26/2/2008 531703 TRIBHVAN HSG G R PANDYA SHARE BROKING LTD B 126600 24.90
26/2/2008 531703 TRIBHVAN HSG DYNAMIC EQUITIES PRIVATE LIMITED S 50000 24.50
26/2/2008 532948 TULSI EXTRU MBL AND COMPANY LIMITED B 271828 139.15
26/2/2008 532948 TULSI EXTRU SHETH BROTHERS B 133418 139.83
26/2/2008 532948 TULSI EXTRU ASSET ALLIANCE SEC PVT LTD B 157200 137.95
26/2/2008 532948 TULSI EXTRU AYODHYAPATI INVESTMENT PVT. LTD B 70000 136.67
26/2/2008 532948 TULSI EXTRU ANAND YOGESH SHARES AND CONSULTANCY PVT LTD B 354505 142.15
26/2/2008 532948 TULSI EXTRU SHAILENDRA HAJARIMAL SETH B 74216 136.09
26/2/2008 532948 TULSI EXTRU SAM GLOBAL SECURITIES LTD B 96311 137.55
26/2/2008 532948 TULSI EXTRU H.J.SECURITIES PVT.LTD B 174340 135.92
26/2/2008 532948 TULSI EXTRU BHANDARI RAKHI KALPESH B 191961 137.26
26/2/2008 532948 TULSI EXTRU YATIN SATRA B 87755 137.26
26/2/2008 532948 TULSI EXTRU RUPESH KIRIT DALAL B 128166 139.54
26/2/2008 532948 TULSI EXTRU MBL AND COMPANY LIMITED S 271828 139.40
26/2/2008 532948 TULSI EXTRU SHETH BROTHERS S 133418 139.68
26/2/2008 532948 TULSI EXTRU ASSET ALLIANCE SEC PVT LTD S 157200 137.55
26/2/2008 532948 TULSI EXTRU AYODHYAPATI INVESTMENT PVT. LTD S 70000 139.29
26/2/2008 532948 TULSI EXTRU ANAND YOGESH SHARES AND CONSULTANCY PVT LTD S 119150 140.02
26/2/2008 532948 TULSI EXTRU SHAILENDRA HAJARIMAL SETH S 74216 135.43
26/2/2008 532948 TULSI EXTRU SAM GLOBAL SECURITIES LTD S 96311 137.55
26/2/2008 532948 TULSI EXTRU H.J.SECURITIES PVT.LTD S 174340 135.91
26/2/2008 532948 TULSI EXTRU BHANDARI RAKHI KALPESH S 191961 138.55
26/2/2008 532948 TULSI EXTRU YATIN SATRA S 87755 137.70
26/2/2008 532948 TULSI EXTRU RUPESH KIRIT DALAL S 128166 138.96
26/2/2008 526953 VENUS REMEDS MERRILL LYNCH CAPITAL MARKETS ESPANA S.A. S.V. B 150000 489.97
26/2/2008 526953 VENUS REMEDS RAKHI PROPERTIES AND LEASING P S 48000 490.00
26/2/2008 526953 VENUS REMEDS RAKHI TRADIING PVT. LTD. S 49200 478.03
Market Close: Cheers to Lalu's Railway Budget..
On back of strong global cues, market had a modest start. Sensex traded ranged in green throughout the day. But in the last hour of trade, there was some profit booking which led the indices to loose some gains. Mid caps and small caps outsmarted the large caps. Market once again flared ahead of budget. Realty, IT, Power, Metals and Oil & gas sector were among gainers. Tea sector witnessed huge buying. Railway budget was presented today by the famous Railway Minister Lalu Prasad Yadav and as usual it was cherished as it proved to be a good one. Major future plans were chalked, which also provided some hope for orders to IT companies like TCS , Wipro , Infosys and Satyam. Asian indices closed in positive. Europe is trading in green.
Sensex ended up by 156 points at 17806.18. It was helped up by gains in Grasim (3042.7,+5 percent), Rel Energy (1697.25,+5 percent), BHEL (2180.55,+5 percent), Infosys (1662.1,+3 percent) and HDFC Bk (1455,+2 percent). Restricting the gains were Bharti Tele (838.8,-1 percent), Hero Honda (734.1,-1 percent), HDFC (2574.3501,0 percent), Tata Motors (702.1,0 percent) and SBI (2119.8501,0 percent).
The Railway Budget proved to be beneficiary to some industries like Steel, Technology, Capital goods and Infrastucutre. Budget chalked out plans to introduced steel coaches by 2010. This will benefit Tata Steel , Jindal Steel , Sail and few more. The other measures to see positives are.. Automated signalling..Kernex Micro. ETA display in long-run trains to benefit Mic Electronics. CCTV, metal detectors installation is expected to benefit Zicom . Anti-fire protection to benefit Nitin Fire Protection. The budget will have online control of trains in 2 years. It plans to link trains via software communication by 2009. It plans to start ticket confirmation via mobile phones. The Budet is planning 'smart card' based ticket system. SMART CARDS will benefit Bartronics.
McLeod Russel India Ltd (McLeod) is largest a tea plantation company in the world. Mcleod. It has around 52 tea estates with total capacity of 70mn kg. Tea production is expected to be stagnant with limited land availability. This has led to good realisation and it is expected to futher go up. For short term Kenya's drought problem and political issues has affected production there. McLeod Russel sees a rise of Rs 5-7 for the rest of the year in tea prices. On this hopes the stock rose and locked at upper circuit.
Technically Speaking: Markets closed 155 points in green. Sensex made an intra day high of 17860 and low of 17679. The breadth was in favor of Advances, as there were 1613 Advances against 1110 Declines. Market turnover was low at Rs 4818 cr. Sensex support stands at 17450. Resistance lies at 18000.
Market gives thumbs up to rail budget; Sensex garners 156 points
The market extended Monday (25 February 2008)'s gains after Railway Minister Lalu Prasad Yadav provided thrust on modernising rail infrastructure in Railway Budget 2008-09 which he presented to parliament today. Keeping the common man in mind, the railway minister also cut passenger fares, with parliamentary elections due in 2009. Firm global markets also helped support domestic bourses.
The 30-share BSE Sensex rose 155.62 points or 0.88% at 17,806.19. It opened 148.99 points higher at 17,799.56. Sensex hit a high of 17,860.10 in late trade. At day’s high Sensex gained 209.53 points. Sensex hit a low of 17,678.74 in afternoon trade. At the day's low, Sensex was up 28.17 points.
The broader based S&P CNX Nifty was up 69.35 points or 1.33% at 5,270.05.
Metal, capital goods, banking, realty and power stocks rose. Reliance Energy and Infosys soared in late trade.
The market breadth was strong. Mid-cap and small-cap indices outperformed Sensex. 19 stocks from 30-member Sensex pack were in the green.
Railway Minister Lalu Prasad today announced a cut in freight rates by 5% on petrol and diesel in the Railway Budget for 2008/09. He also announced a reduction of 5% in fares for second class sleeper-class passengers. Yadav cut the fare of air conditioned (AC) I-tier by 7%, AC II-tier by 4%, and AC III-tier by 3%. The Indian railways will offer discounts on charges for freight booked during lean seasons Yadav told parliament in his budget speech.
The Railway Minister said Indian Railways will report a cash surplus of Rs 25,000 crore in FY 2007-08. Railways will invest Rs 75,000 crore to upgrade infrastructure over the next seven years and also to start making steel coaches from FY 2009 and introduce them from FY 2010. There will be no peak season surcharge on cement transport.
Railways plan to upgrade 50 container terminals across the country which includes Mumbai and Chandigarh terminals. The Railways will begin 25-30 tonne axle load trains.
BSE clocked a turnover Rs 4818 crore compared to Monday (25 February 2008)'s Rs 5,666.57 crore.
Nifty February 2008 futures were at 5259.35, at a discount of 10.7 points as compared to spot closing of 5270.05.
The NSE's futures & options (F&O) segment turnover was Rs 56,515.69 crore, which was higher than Rs 51,314.54 crore on Monday, 25 February 2008.
As per provisional data, FIIs sold shares worth a net Rs 31.99 crore today, 26 February 2008. Domestic funds bought shares worth a net Rs 511.33 crore.
As per reports, the government has clarified that lending and borrowing of securities under the securities lending and borrowing scheme will not attract Securities Transaction Tax (STT) or capital gains tax. However, it is not clear if sale and repurchase transactions made on the basis of borrowed securities would be taxable.
The next major trigger for the market is the Union Budget 2008-09. With general elections due in 2009, Union Budget 2008-09 to be presented on 29 February 2008 will be the last full-fledged budget of the Congress-led United Progressive Alliance government and it is therefore likely to be a populist budget. Thus, the Finance Minister (FM) is likely to provide higher allocations to several social initiatives like rural upliftment, employment, education, agricultural growth and public health.
Though populist measures will dominate the budget, FM is also expected to take steps to stimulate investment and consumption demand at a time when the economy is witnessing moderation from a solid growth last year. A reduction in personal income tax, if any, will result in increase in disposable incomes which in turn may boost demand for consumer goods.
Expectations are that the corporate income tax rate may be cut or the 10% surcharge on corporate tax may be abolished. The surcharge is 10% on a tax rate of 30%, making the effective corporate tax rate 33%. Another possibility is that of a cut in dividend distribution tax from 15% to 12.5%. Meanwhile, FM may raise the Securities Transaction Tax slightly.
It is also expected that the FM would announce some relief packages for troubled export sensitive sectors like textiles, rubber, jewelry, leather and IT services. These sectors have been hit by rupee’s surge in the past one year.
The market breadth was strong: on BSE 1,652 advanced as compared to 1,081 that declined. 41 shares remained unchanged.
The BSE Mid-Cap index rose 1.27% to 7,690.86 and BSE Small-Cap index rose 1.28% to 9,648.49.
BSE FMCG index (up 0.49% to 2,250.79), BSE Auto index (up 0.54% to 4,746.46), BSE Consumer Durables index (up 0.7% to 4,865.24, BSE HealthCare index (up 0.57% to 3,813.61), BSE Bankex (up 0.75% to 10,189.48) underperformed Sensex.
BSE Oil & Gas index (up 1.42% to 11,214.76), BSE PSU index (up 1.56% to 8,438.08), BSE Metal index (up 1.64% to 16,801.01), BSE Power index (up 2.65% to 3,706.80), BSE IT index (up 1.76% to 4,062.67), BSE Captal Goods index (up 2.05% to 16,124.36), BSE Realty index (up 2.53% to 10,016.49) outperformed Sensex.
IT stocks were mixed. Infosys (up 3.02% to Rs 1,662.10), Wipro (up 1.05% to Rs 444.15) edged higher. However Satyam Computer Services (down 0.12% to Rs 449.75) and Tata Consultancy Services (down 0.24% to Rs 897.85) edged lower.
Information Technology Vision 2012 aims at radical changes in IT applications on a common platform in Indian Railways with focus on improvement in operational efficiency, transparency in working and better services to the customers.
Shares of three oil refinery firms rose between 3.64% to 4.18% after a cut in freight rates by 5% on petrol and diesel announced in the Railway Budget for 2008/09. Indian Oil Corporation (up 4.17% to Rs 550.90), Bharat Petroleum Corporation (up 5.38% to Rs 456.45) and Hindustan Petroleum Corporation (up 4.75% to Rs 307.70) gained.
Shares of the eight cement firms rose between 0.65% to 5.06% after Railway Minister, Laloo Prasad Yadav, in his Railway Budget, said the government would erect new bulk handling facilities for cement transportation. Andhra Cements (up 3.41% to Rs 31.80), Grasim Industries (up 5.06% to Rs 3042.70), J K Cements (2.32% to Rs 165.70), JK Lakshmi Cement (up 1.8% to Rs 138.70), ACC (up 1.53% to Rs 830.90), Ambuja Cement (up 0.65% to Rs 123.35) and Ultratech Cement (up 0.78% to Rs 910.65), moved up.
The Railways Minister said that no busy season surcharge would be charged for cement transported in bulk through the new facilities.
Metal stocks rose. Jindal Stainless rose 7.19% to Rs 160.35 on hopes of higher demand for stainless steel, after the railway budget announced introduction of stainless steel coaches in express trains. National Alluminium Company 7.37% to Rs 465.85), Steel Authority of India (up 2.57% to Rs 245.40), Sterlite Industries (up 3.89% to Rs 846.05) edged higher. However Tata Steel rose 0.08% to Rs 809.25.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 0.94% to Rs 2,575.75.
Capital goods stocks rose after rail budget. Thermax (up 5.86% to Rs 681.30), Suzlon Energy (up 6.26% to Rs 314.85), Bharat Heavy Electricals (up 4.58% to Rs 2,180.55) and Larsen & Toubro (up 0.72% to Rs 3,518.25) edged higher.
Banking stocks edged higher. HDFC Bank rose 2.27% to Rs 1,455. As per reports after acquiring Centurion Bank of Punjab, HDFC Bank, the second largest private sector bank after ICICI Bank, may look at an overseas buy. The bank would look at an acquisition for increasing its presence in the retail space abroad. ICICI Bank, India's biggest private sector bank in terms of net profit rose 0.72% to Rs 1,118.05 while State Bank of India, India's biggest commervial bank, declined 0.36% to Rs 2,119.85.
Power stocks rose. India's second largest power utility firm by revenue Reliance Energy rose 4.95% to Rs 1,697.25 after company said its board will meet on 5 March 2008 to consider, buy back of equity shares of the company. Tata Power Company (up 0.44% to Rs 1,356.05), PowereGrid Corporation of India (up 0.44% to Rs 102.45) and NTPC (up 0.27% to Rs 203.90) edged higher.
However, Reliance Power declined 0.54% at Rs 447.95. The company had announced yesterday that its board had approved a proposal for issuing free bonus shares to all categories of shareholders, excluding the promoter group (comprising of Reliance Energy and the ADA Group), in the ratio of 3 shares for every 5 shares held.
Realty stocks rose. Indiabulls Real Estate (up 11.06% to Rs 642.45), Unitech (up 2.17% to Rs 390.45), Housing Development Infrastructure (up 1.56% to Rs 836.40) edged higher. However DLF declined 0.19% to Rs 832.60.
India's largest truck maker by sales Tata Motors declined 0.46% to Rs 702.10. As per reports US-based automaker Ford Motor Company could announce as early as late next week the sale of its luxury Jaguar and Land Rover brands to the Indian company.
India’s biggest oil exploration firm by market capitalisation ONGC rose 1.41% to Rs 1,027.75. ONGC has reportedly made four oil and gas discoveries.
Bharti Airtel (down 1.38% to Rs 838.80), ITC (down 0.35% to Rs 201.25) and HDFC (down 0.48% to Rs 2,574.35) edged lower from Sensex pack.
Texmaco moved up 2.8% to Rs 1631.35 after the railway minister said 20,000 new freight wagons are expected for 2008/09 and another 5,000 open wagons are to be upgraded to stainless steel.
Bartronics India surged 8.43% to Rs 223.90 on BSE after the Railway Minister proposed smart card-based ticketing system.
Tulsi Extrusions clocked highest volume of 2.45 crore shares on BSE. Reliance Natural Resources (1.14 crore shares), Gujarat NRE Coke (68.30 lakh shares), Reliance Power (66.76 lakh shares) and Nagarjuna Fertilisers and Chemicals (64.83 lakh shares) were other volume toppers in that order.
Tulsi Extrusions clocked highest turnover of Rs 338.44 crore on BSE. Reliance Power (Rs 299.35 crore), Onmobile Global (Rs 263.14 crore), Reliance Capital (Rs 164.21 crore) and Reliance Natural Resources (Rs 157.47 crore) were other turnover toppers in that order.
European markets were strong. France’s CAC 40, Germany’s DAX and UK’s FTSE 100 were up by between 0.96-1.53%.
Asian stocks were mixed. Key benchmark indices in Hong Kong, South Korea, Singapore, China and Taiwan were up by between 0.26% to 1.92%. However, Japan’s Nikkei declined 0.66% to 13,824.72.
US stocks rose sharply on Monday on signs the two largest bond insurers would stabilize, bringing a wave of relief to a market dogged by concerns of further bank write-downs. The Dow Jones industrial average was up 189.20 points, or 1.53%, to end at 12,570.22. The Nasdaq Composite Index was up 24.13 points, or 1.05%, to close at 2,327.48.
The 30-share BSE Sensex had surged 301.50 points or 1.74% at 17,650.57 on Monday, 25 February 2008 following a higher than expected bonus ratio from Reliance Power and taking its cue from firm global markets. However, the market breadth was weak on that day.
Sensex is down 3,400.58 points or 16.03% from a record high of 21,206.77 hit on 10 January 2008. The barometer index is down 12.22% in calendar 2008 so far.
Sensex gains, but ends off its highs
After witnessing range-bound movement for the day, the market settled in positive territory. The Sensex kissed the day's high of 17,860, up 210 points from the previous close of 17,650, and finally ended with gains of 155 points at 17,806. The Nifty gained 69 points to close at 5,270. The breadth of the market was marginally positive. Of the 2,785 stocks traded on the Bombay Stock Exchange (BSE), 1,645 stocks advanced, 1,079 stocks declined and 61 stocks ended unchanged.
Among the 11 sectoral indices, BSE Power index rose 2.65% at 3,706, BSE Realty index added 2.53% at 10,016 and BSE CG index gained 2.05% at 16,124, while the remaining indices ended with marginal profits.
Front-line stocks like Grasim led the upmove and soared 5.06% at Rs3,042.70. REL rose 4.59% at Rs1,697.25, BHEL jumped 4.58% at Rs2,180.55 and Infosys advanced 3.02% at Rs1,662. However, Bharti Airtel dropped 1.38% at Rs838.80, HDFC fell 0.48% at Rs2,574.35, Tata Motors declined 0.46% at Rs702 and SBI was down 0.36% at Rs2,119.85.
Suzlon Energy vaulted 6.26% at Rs314.85, REL surged 4.59% at Rs1,697.25, BHEL soared 4.58% at Rs2,180.55 and Crompton Greaves advanced 4.18% at Rs311.80. GMR Infrastructure, CESC, AREVA and SIEMENS gained 1-3% each in power stocks. The major gainers include Roto Pumps that gained 20% at Rs71.10, followed by Glory Poly moving up 20% at Rs105.30, and Mcleod Russel advancing 19.98% at Rs78.05.
Over 2.45 crore Tulsi Extrusion shares changed hands on the BSE followed by RNRL (1.14 crore shares), Gujarat NRE (0.68 crore shares), Reliance Power (0.66 crore shares) and Nagarjuna fertilisers (0.64 crore shares).
Post Market Commentary - Feb 26 2008
The Indian market rallied through the trading session to close on an upbeat note. The market opened with heavy gains on the back of favoring cues from the global markets and kept on hovering in the positive territory through out the trading session. The market however pared some of its gains soon after the firm start but gained the momentum soon after the declaration of the Union Railway Budget. The Small Caps and Mid Caps also joined the rally of the benchmark indices as they also posted handsome gains. From the sectoral front, the Capital Goods, Realty and Metal stocks remained in the limelight as most buying was seen from these baskets. The BSE Sensex closed higher by 155.62 points at 17,806.19 and NSE Nifty closed up by 69.35 points at 5,270.05. The BSE Mid Cap and Small Cap closed higher by 96.45 points and 122.21 points at 7,690.86 and 9,648.49 respectively.
BSE Metal index grew by 270.85 points to close at 16,801.01. Major gainers are NALCO (7.37%), Jindal Stainless (7.19%), Gujarat NRE (4.21%), Sterlite Industries (23.89%) and SAIL (2.57%).
BSE Oil & Gas index closed higher by 157.38 points at 11,214.76. Gainers are BPCL (5.38%), Cairn India (5.85%), HPCL (4.75%), Indian Oil (4.17%), RPL (1.51%) and GAIL India (1.93%).
BSE Bankex index closed higher by 76.34 points at 10,189.48. Gainers are Bank of India (4.75%), HDFC Bank (2.27%), Union Bank (1.36%), Kotak Bank (1.31%), Centurion Bank of Punjab (1.04%).
BSE Power index closed up by 95.62 points at 3,706.80 as Suzlon Energy (6.26%), Reliance Energy (4.59%), BHEL (4.58%), GMR Infra (3.63%) and CESC (2.07%) closed in green.
BSE IT index grew by 70.13 points to close at 4,062.67 as Karut Net (5%), HCL Tech (4.52%), I-Flex (3.12%), Infosys (3.02%), Aptech (2.54%), NIIT Tech (1.70%) closed higher.
BSE Realty index closed higher by 247.18 points at 10,016.49. Gainers Indbul Real (11.06%), Omaxe (2.43%), Unitech (2.17%), Purvankara (1.65%), Parsvnath (1.30%).
Market ends higher in choppy trade
The market pared gains in late trade after touching a fresh intra-day high in mid-afternoon trade after Railway Minister Lalu Prasad Yadav provided thrust on modernising rail infrastructure in Railway Budget 2008-09 which he presented to parliament today. The market had opened on a firm note today tracking steady to firm trend in Asian stocks. Metal, capital goods, banking, realty and power stocks rose.
The market breadth was strong. Mid-cap and small-cap indices outperformed Sensex. 21 stocks from 30-member Sensex pack were in the green.
Railway Minister Lalu Prasad today announced a cut in freight rates by 5% on petrol and diesel in the Railway Budget for 2008/09. He also announced a reduction of 5% in fares for second class sleeper-class passengers. Yadav cut the fare of air conditioned (AC) I-tier by 7%, AC II-tier by 4%, and AC III-tier by 3%. The Indian railways will offer discounts on charges for freight booked during lean seasons Yadav told parliament in his budget speech.
The Railway Minister said Indian Railways will report a cash surplus of Rs 25,000 crore in FY 2008-09. Railways will invest Rs 75,000 crore to upgrade infrastructure over the next seven years and also to start making steel coaches from FY 2009 and introduce them from FY 2010. There will be no peak season surcharge on cement transport.
Railways plan to upgrade 50 container terminals across the country which includes Mumbai and Chandigarh terminals. The Railways will begin 25-30 tonne axle load trains.
The 30-share BSE Sensex provisionally ended up 93.23 points or 0.53% at 17,743.80. It opened 148.99 points higher at 17,799.56. Sensex hit a high of 17,860.10 in late trade. At day’s high Sensex gained 209.53 points. Sensex hit a low of 17,678.74 in afternoon trade. At the day's low, Sensex was up 28.17 points.
The broader based S&P CNX Nifty was up 49.65 points or 0.95% at 5,250.35.
BSE clocked a turnover Rs 4818 crore compared to Monday (25 February 2008)'s Rs 5,666.57 crore.
The next major trigger for the market is the Union Budget 2008-09. With general elections due in 2009, Union Budget 2008-09 to be presented on 29 February 2008 will be the last full-fledged budget of the Congress-led United Progressive Alliance government and it is therefore likely to be a populist budget. Thus, the Finance Minister (FM) is likely to provide higher allocations to several social initiatives like rural upliftment, employment, education, agricultural growth and public health.
Though populist measures will dominate the budget, FM is also expected to take steps to stimulate investment and consumption demand at a time when the economy is witnessing moderation from a solid growth last year. A reduction in personal income tax, if any, will result in increase in disposable incomes which in turn may boost demand for consumer goods.
Expectations are that the corporate income tax rate may be cut or the 10% surcharge on corporate tax may be abolished. The surcharge is 10% on a tax rate of 30%, making the effective corporate tax rate 33%. Another possibility is that of a cut in dividend distribution tax from 15% to 12.5%. Meanwhile, FM may raise the Securities Transaction Tax slightly.
It is also expected that the FM would announce some relief packages for troubled export sensitive sectors like textiles, rubber, jewelry, leather and IT services. These sectors have been hit by rupee’s surge in the past one year.
The market breadth was strong: on BSE 1,610 advanced as compared to 1,113 that declined. 42 shares remained unchanged.
The BSE Mid-Cap index rose 1.07% to 7,675.99 and BSE Small-Cap index rose 1.18% to 9,638.91.
IT stocks were mixed. Infosys (up 2.4% to Rs 1,652.10), Wipro (up 0.49% to Rs 441.70) edged higher. However Satyam Computer Services (down 1.18% to Rs 445) and Tata Consultancy Services (down 0.45% to Rs 896) edged lower.
Information Technology Vision 2012 aims at radical changes in IT applications on a common platform in Indian Railways with focus on improvement in operational efficiency, transparency in working and better services to the customers.
Shares of three oil refinery firms rose between 3.64% to 4.18% after a cut in freight rates by 5% on petrol and diesel announced in the Railway Budget for 2008/09. Indian Oil Corporation (up 3.64% to Rs 548.10), Bharat Petroleum Corporation (up 4.18% to Rs 451.25) and Hindustan Petroleum Corporation (3.93% to Rs 305.30) gained.
Metal stocks rose. Jindal Stainless rose 7.39% to Rs 160.65 on hopes of higher demand for stainless steel, after the railway budget announced introduction of stainless steel coaches in express trains. National Alluminium Company 7.64% to Rs 465), Steel Authority of India (up 2.34% to Rs 244.85), Sterlite Industries (up 3.76% to Rs 845) edged higher.However Tata Steel declined 0.41% to Rs 805.25.
India’s largest private sector firm by market capitalization and oil refiner Reliance Industries (RIL) rose 0.94% to Rs 2,575.75.
Capital goods stocks rose after rail budget. Thermax (up 5.03% to Rs 676), Suzlon Energy (up 6.26% to Rs 314.85), Bharat Heavy Electricals (up 4.85% to Rs 2,180.55) and Larsen & Toubro (up 0.72% to Rs 3,518.25) edged higher.
Banking stocks edged higher. HDFC Bank rose 2.27% to Rs 1,455. As per reports after acquiring Centurion Bank of Punjab, HDFC Bank, the second largest private sector bank after ICICI Bank, may look at an overseas buy. The bank would look at an acquisition for increasing its presence in the retail space abroad. ICICI Bank, India's biggest private sector bank in terms of net profit rose 0.72% to Rs 1,118.05 while State Bank of India, India's biggest commervial bank, declined 0.36% to Rs 2,119.85.
Power stocks rose. India's second largest power utility firm by revenue Reliance Energy rose 4.95% to Rs 1,697.25 after company said its board will meet on 5 March 2008 to consider, buy back of equity shares of the company. Tata Power Company (up 0.44% to Rs 1,356.05), PowereGrid Corporation of India (up 0.44% to Rs 102.45) and NTPC (up 0.27% to Rs 203.90) edged higher.
However, Reliance Power declined 0.54% at Rs 447.95. The company had announced yesterday that its board had approved a proposal for issuing free bonus shares to all categories of shareholders, excluding the promoter group (comprising of Reliance Energy and the ADA Group), in the ratio of 3 shares for every 5 shares held.
Realty stocks rose. Indiabulls Real Estate (up 11.06% to Rs 642.45), Unitech (up 2.17% to Rs 390.45), Housing Development Infrastructure (up 1.56% to Rs 836.40) edged higher. However DLF declined 0.19% to Rs 832.60.
India's largest truck maker by sales Tata Motors declined 0.46% to Rs 702.10. As per reports US-based automaker Ford Motor Company could announce as early as late next week the sale of its luxury Jaguar and Land Rover brands to the Indian company.
India’s biggest oil exploration firm by market capitalisation ONGC rose 1.41% to Rs 1,027.75. ONGC has reportedly made four oil and gas discoveries.
Grasim Industries spurted 5.06% to Rs 3,042.70.
Bharti Airtel (down 1.38% to Rs 838.80), ITC (down 0.35% to Rs 201.25) and HDFC (down 0.48% to Rs 2,574.35) edged lower from Sensex pack.
European markets were strong. France’s CAC 40, Germany’s DAX and UK’s FTSE 100 were up by between 1.18-1.52%.
Asian stocks were mixed. Key benchmark indices in Hong Kong, South Korea, Singapore, China and Taiwan were up by between 0.26% to 1.92%. However, Japan’s Nikkei declined 0.66% to 13,824.72.
US stocks rose sharply on Monday on signs the two largest bond insurers would stabilize, bringing a wave of relief to a market dogged by concerns of further bank write-downs. The Dow Jones industrial average was up 189.20 points, or 1.53%, to end at 12,570.22. The Nasdaq Composite Index was up 24.13 points, or 1.05%, to close at 2,327.48.
The 30-share BSE Sensex had surged 301.50 points or 1.74% at 17,650.57 on Monday, 25 February 2008 following a higher than expected bonus ratio from Reliance Power and taking its cue from firm global markets. However, the market breadth was weak.
MIC Electronics jumps on Railway Budget proposals
In BSE, 14,113 shares of the scrip were traded. The stock had an average daily volume of 47,954 shares on BSE in past one quarter.
The scrip had touched a high of Rs 799 and a low of Rs 720 so far during the day. The stock had hit a 52-week high of Rs 1087.80 on 27 December 2007 and a 52-week low of Rs 210.25 on 30 May 2007.
The scrip had underperformed the market in the one month to 25 February 2008, falling 8.79% as against the Sensex's 3.87% decline. It had, however, outperformed the market in the past three months, soaring 21.75% against the Sensex's 7.72% slide.
The mid-cap video display system maker has an equity capital of Rs 20.13 crore. Face value per share is Rs 10.
At the current price of Rs 786, the scrip trades at a PE multiple of 28.87, based on Q3 December 2007 annualised EPS of Rs 27.22.
The estimated time of arrival or ETA is a system used to know when the vehicle is expected to reach/arrive at a certain place. ETAs are used in public transports to generate estimated times of arrival depending on either a static timetable or through measurements on traffic intensity. ETA is electronically calculated and flashed on LED display screens.
MIC Electronics designs and manufactures light-emitting diode (LED) video display systems. The LED products manufactured by the company find various applications, including sport and live events, advertising campaigns and news ticker displays.
The net profit of MIC Electronics rose 109.8% to Rs 13.70 crore on 114.8% rise in sales to Rs 78.24 crore in Q3 December 2007 over Q3 December 2006.
Grey Market - V Guard, GSS America Infotech
Rural Electrification 90 to 105 25 to 27
GSS America InfoTech 400 to 440 Discount
Manjushree Extrusion 45 5 to 7
V. Guard Ind. 80 to 85 12 to 15
Morning Call - Feb 26 2008
In House :
Nifty at a supp of 5148 and 5091 with resistance at 5265 and 5310
Cash: Buy TCS above 901 with a TGT of 932 and a SL of 889
Buy JPASSOCIAT above 254 with a TGT of 274 and a SL of 249
F&O: Buy REL above 1620 with a TGT of 1680 and a SL of 1600
Buy HCLTECH above 281 with a TGT of 293 and a SL of 276
Sector +ve: Cement (ACC and Indiacement in particular) and Infrastructure
Out House :
Markets at a support of 17474 & 17371 levels with resistance at 17786 & 17986 levels .
Buy : RIL & RPower
Buy : Sail & Tisco
Buy : SBIN & Kotak
Buy : Siemens & Neyvelli
Buy : EssarOIL & CoreProjects
Buy : GujNreCoke
Buy : RNRL & JPasso
Buy : ONGC
Dark Horse : RPower , EssarOil , Titan , INFY , NTPC , RIL , Sbin , & Aban
Trading Calls
Buy Indiabulls Real Estate above Rs 625. Stop Loss of Rs 600, target of Rs 658-Rs 711.
Buy Gujarat Ambuja Cement with a stop loss of Rs 117 for short term target of Rs 125 & 137
Buy Ankur Drugs & Pharma with a stop loss of Rs 240 for short term target of Rs 464
Trading Calls - Feb 26 2008
Nifty (5201) Sup 5105 Res 5350
Buy Hero Honda (741)
SL 735 Target 751, 756
Buy Punj Lloyd (375)
SL 370 Target 385, 388
SL 370 Target 385, 388
BUY RIL (2552)
SL 2530 Target 2590, 2610
SL 2530 Target 2590, 2610
Sell IOB (168)
SL 173 Target 160, 157
SL 173 Target 160, 157
Sell CESC (502)
SL 506 Target 494, 489
SL 506 Target 494, 489
Bulls hope to stay on track!
Life barrels on like a runaway train where the passengers change,
they don't change anything, you get off someone else can get on.
The markets resemble a runaway train since Monday. Some getting in, some getting off. After all it is better to get off comfortably at your destination rather than being thrown out for ticketless travel (read leveraged play). With the railway budget set to be a populist one, the bulls will hope that they manage to chug ahead. Expectations are that the railway minister many announce reduction in certain passenger fares and freight rates.
The global cues will lend support at start. The outlook for today is a good opening led by some follow on buying. Depending on the budget announcements, certain sectors and stocks will have a field day. Profit booking at higher levels could always set in as the near term outlook remains a worry. Get in and get out as per your risk profile. Monday’s start brought in hopes of a long awaited pre-budget rally. How long that lasts, remains to be seen.
A mix of surging costs and a steel shortage could bring steel stocks in limelight unless the railway minister decides to spoil sentiment. Globally, further hikes are expected in steel.
Watch out for action in tea counters too.
The FIIs turned to net buyers of Rs1.78bn in Index Future and by Rs4.75bn in index options. In Single Stock Futures they were net buyers at Rs53.4mn. In the Cash segment, FIIs were net buyers by Rs7.83bn and DIIs were net sellers of Rs3.16bn.
US stocks gained after S&P reiterated its top rating for Ambac Financial. Dow Jones added 1.5%. Standard & Poor's 500 (SPX) index was up 1.4%. Nasdaq added 1%.
Asian stocks rose to their three week highs following cues from Wall Street. Nikkei climbed 0.5 percent to 13,983.51.
Citigroup slipped 1.5% after Goldman Sachs cut its earnings outlook. Goldman also cut its forecasts on a number of other big banks. Fannie Mae and Freddie Mac fell after Goldman Sachs downgraded the companies to "sell" saying it expects them to announce big writedowns.
US light crude oil for April delivery rose 44 cents to settle at $99.23 a barrel on the New York Mercantile Exchange
ONGC has announced four new oil and gas discoveries, three onland and one offshore.
HDFC Bank, Centurion Bank of Punjab approved a swap ratio of 1:29 for merger and may look at an overseas buy.
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HDFC Bank is likely to issue preference shares to promoter HDFC to enable the mortgage company to retain its shareholding above 20% post-merger.
Swedish truck and bus maker Scania has firmed up plans to manufacture trucks in India alone as L&T has reportedly backed out.
PNB has cut its PLR by 50 basis points to 12.5%.
Ashok Leyland is planning to double investment in Uttaranchal from Rs10bn to Rs20bn as a part of its expansion plan, according to a report.
Hindustan Electro Graphites expects to achieve a capacity of 58,000 tons by FY09 and ~64,000 tons by FY10.
Bhushan Steel has entered into two JV with Australian firm Bowen Energy for exploration of coal mines.
Gitanjali Group plans to hive off its five businesses and eventually list them on the bourses.
Essar Shipping has approved raising of US$1bn through issue of securities
Jubilant Organosys has bagged new contracts worth US$92mn for its proprietary products and exclusive synthesis segment for 2008.
Crompton Greaves has announced a tie-up with Dutch firm Lemnis Lighting for launching LED lighting products.
Bulls look to chug ahead
Finally, bulls managed to end a session on a strong note. Initially after falling sharply in the early trades markets bounced back and gradually gained momentum through out the trading session. The Sensex recovered over 500 points and the Nifty index recouped over 140 points from their respective days low. The rally could be attributed to strong buying interest in the Reliance pack of stocks. Also the IT, Power and the Realty stocks were in demand. Finally, the 30-share Sensex closed at 17,650 adding 301 points. The NSE Nifty closed at 5,200 gaining 89 points.
Overall about 1,074 stocks advanced, 1,594 stocks declined while 72 stocks remained unchanged. Among the BSE 30 index 26 stocks advanced while only 4 stocks declined.
Among the 30-scrips of Sensex, RIL, ICICI Bank, Infosys and L&T were among the major gainers. However, HDFC Bank, Baja Auto and Hindustan Unilever were among the major losers in the index.
IRB Infrastructure Developers Ltd, developers of various infrastructure projects in the road sector through several Special Purpose Vehicles got listed at Rs192 against issue price of Rs185. After initially slipping heavily below its issue price, the scrip constantly gained ground thought out the session.
Finally, the stock ended at Rs189 recording gains of 2% after hitting an intra-day high of Rs200 and a low of Rs168 and recorded volumes of over 2,00,00,000 shares on NSE. IRB Infrastructure, raised about Rs9.44bn through its IPO last month. IRB Infrastructure offered 51mn equity shares through the IPO, constituting 15.36%of its fully diluted post issue paid-up capital. The issue got subscribed by over four times. The issue price at the lower end of price band of Rs185-220.
Tulsi Extrusions Limited manufacturer of various types of PVC pipes and fabricated fittings got listed at Rs100 on the bourses against issue price of Rs85. The scrip constantly gained ground thought out the trading session finally closed at Rs140 translating into a premium of 65%. The scrip has touched an intra-day high of Rs144 and a low of Rs99 and has recorded volumes of over 3,00,00,000 shares on NSE.
The company came out with public issue of 57,00,000 equity shares of Rs10 each during February 1 and February 5, 2008. The price band for the issue was set between Rs80 and Rs85. The issue was subscribed 2.08 times. QIBs portion subscribed 1.54 times, HNIs 3.11 times and Retail category 2.46 times.
Pfizer India ended flat at Rs633. The company announced its Q4 result with net profit at Rs220.36mn (up 29.5%) and revenue at Rs2bn (up 9.2%). The company also announced that it would pay dividend of Rs27.5 per share. The scrip touched an intra-day high of Rs653 and a low of Rs630 and recorded volumes of over 32,000 shares on NSE.
Gati ended lower by 1.3% to Rs121. The company announced that it entered into agreement with General Logistics. The scrip hit an intra-day high of Rs126 and a low of Rs119 and recorded volumes of over 28,000 shares on NSE.
M&M was marginally down by 0.3% to Rs627. According to reports the company was planning to launch a premium SUV codenamed ‘W201’ by 2009 and the Ingenio MUV by end August of this year. The scrip touched an intra-day high of Rs634 and a low of Rs605 and recorded volumes of over 3,00,000 shares on NSE.
RPower surged by over 8% to Rs450 the scrip for the first time crossed the IPO price of Rs450 led by unabated buying. The scrip touched an intra-day high of Rs455 and a low of Rs421 and recorded volumes of over 3,00,00,000 shares on NSE.
Ram Informatics gained 1.2% to Rs16 after the company said that it received orders from Registration & Stamps. The scrip touched an intra-day high of Rs16 and a low of Rs15 and has recorded volumes of over 43,000 shares on BSE.
Cues from the international markets look to be a bit supportive for the time being and with the railway budget to be announced on Tuesday, bulls would look to carry forward the momentum. However, having said that, even a bad day in the US market is enough to turn the sentiments negative. It also shows that one cannot take any rally for granted, as all the gains of a day can easily be wiped out in a minutes. Stock specific action would continue.
News Snippets:
- Godrej Industries has set up a joint venture with Malaysian firm IJM Plantations to develop palm estates and palm oil mills in India. (BS)
- Godawari Power and Ispat planning to foray into commercial power generation with projects in Chhattisgarh or Jharkhand with capacities ranging between 300 to 1,000 mw with coal and coal rejects as fuel. (BS)
- Opto Circuits India has signed an agreement to acquire Wisconsin-based Criticare Systems Inc, a maker of medical equipments, for US$68mn. (BS)
- Zylog Systems Ltd is foraying into Voice over Internet Protocol (VoIP) with a tie-up with an American company. (BL)
- The Future Group is all set to make a foray into rural retailing by riding on the Aadhaar outlets belonging to Godrej Agrovet.
- Dish TV has cancelled the Rs2.5bn preferential allotment of equity shares and warrants to Indivision India Partners. (BL)
- Tata expects to double revenues from China—primarily from TCS and Tata Steel—to US$600mn this year. (FE)
- HSBC, StanChart have evinced interest in picking up a stake in YES Bank. (FE)
- ONGC has reconfigured its proposed mega petrochemical plant at Dahej in Gujarat, bringing down the cost by Rs11bn to Rs124.4bn.
- The Government has directed IOC, BPCL and HPCL to stop LPG supply to PNG users. (ET)
- Crompton Greaves has entered into two agreements with the Netherland-based Lemnis Lightings and Italy-based Fael Luce to boost its presence in lightning space. (ET)
- The Empowered Committee of Secretaries has cleared Cairn India's proposal to lay a US$800mn pipeline for transporting crude oil from its Rajasthan oil fields and recover the cost through sale of crude. (ET)
- BPCL is expected to export less fuel oil for FY08 to cover for its increased domestic market share. (ET)
- Gati Ltd plans to invest US$100mn over the next 18 months to expand operations in the domestic and overseas markets. (ET)
- Unitech to invest Rs90bn in two real estate projects in Hyderabad. (ET)
- GMR Infrastructure plans to foray into the corporate jet market with a capital expenditure plan of Rs7bn. (ET)
- Tulip IT Services has earmarked US$40mn for overseas acquisitions. (ET)
- - IRB Infra has won a bid for six-laning part of the Surat-Dahisar highway. (DNA)
- Real estate company, Omaxe plans to set up a township at Raipur in Chhattisgarh with a project value of Rs12bn. (ET)
- MMTC Ltd to import 1.5mn tons of non-coking coal. (Mint)
- AV Birla Group company, Grasim Bhiwani Textiles plans to ramp up fabric business. (ET)
- - ICICI Venture and Jaypee Infratech terminated US$800mn deal for buying ~10-15% stake in Jaypee Infratech. (ET)
- China-based Sinosteel will set up its first integrated steel plant in Jharkhand and a cold forged rolls unit at Haldia in West Bengal. (BS)
Today's Pick - Alstom Projects
We recommend a buy in Alstom Projects India from a short-term perspective. From the charts, we see that the stock met with a key resistance level at around Rs 1,085 in early January and began to decline. The stock’s downtrend continued up to Rs 660 levels (touched in mid February) where it got support from a long-term support and bounced off penetrating the down trendline. The positive divergence in the daily Relative Strength Index (RSI) supports the stock’s b ounce off. The daily RSI has entered the neutral region from the bearish zone. The weekly RSI appears to have found support at 40 levels. The daily moving average convergence divergence has crossed over one another and is steadily rising towards the positive territory. Recently, the stock crossed over the 21-day moving average. Our short-term forecast for the stock is bullish. We expect the stock to move up to our target price of Rs 835 in the short-term. Investors with a short-term perspective can buy the stock while keeping the stop-loss at Rs 674.
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