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Friday, February 18, 2011
Sensex breaks 5-day positive run, loses 295 pts
Selling pressure emerged in trade today, which led the Sensex to snap five-day rally and close the session 295 points lower
Major headlines
Redington ties up with Dell
Bank of Maharashtra to get Rs352 crore from Govt
Pratibha Industries gains on securing contracts
Market gallops on bargain hunting
The market spurted last week on bargain hunting after a recent sell off. Easing of food inflation early this month and firm global stocks, triggered bargain buying. Global stocks rallied as investors greeted resignation by Egyptian President Hosni Mubarak. The barometer index BSE Sensex rose for five consecutive trading sessions from 11 February 2011 to 17 February 2011, registering its longest stretch of gains this calendar year. However, gains could not sustain longer as profit booking set in on the last trading day of the week on Friday, 18 February 2011. Earlier, the Sensex had tumbled to a seven-month closing low on 10 February 2011.
Stocks could be choppy ahead of Budget
The market could be volatile next week ahead of the expiry of the near-month February 2011 derivatives contracts on Thursday, 24 February 2011. The ongoing investigation into 2G telecom spectrum allocation scam may cap upside in the near term.
Nifty falls below 5,500 mark in choppy trade; breadth weak
The key benchmark indices slumped to hit fresh intraday lows in late trade on political worries after reports the Central Bureau of Investigation (CBI) has raided offices of Kalaignar TV -- a TV channel owned by the family of DMK as a part of 2G scam probe. The market breadth, indicating the health of the market, was weak in contrast with a strong breadth earlier in the day. Index heavyweight Reliance Industries (RIL) dropped.
Research Calls - Feb 17 2011
| Company | Actions |
| ABAN OFFSHORE | Upgraded to Buy by Proactive Universal |
| ABAN OFFSHORE | Downgraded to Reduce by ICICIdirect.com, |
| ADHUNIK METALIKS | Target Px decreased to 109 by ICICIdi |
| AHLUWALIA CONTRA | Downgraded to Neutral by IFCI Financi |
| AMTEK AUTO LTD | Target Px increased to 158 by Asit C Me |
| ANANT RAJ INDUS | Upgraded to Buy by Sushil Finance Cons |
| ANDHRA BANK | Target Px decreased to 177 by Dolat Capita |
| APOLLO HOSPITALS | Target Px decreased to 590 by Edelwei |
| APOLLO HOSPITALS | Upgraded to Buy by Proactive Universa |
| APOLLO HOSPITALS | Target Px increased to 653 by Centrum |
| APOLLO TYRES LTD | Target Px decreased to 73 by BNP Pari |
| BANK OF INDIA | Upgraded to Buy by Quantum Securities Pv |
| BERGER PAINTS | Upgraded to Outperform by Batlivala & Ka |
| BGR ENERGY SYS | Target Px decreased to 578 by Asit C Me |
| BHARAT PETROL | Target Px increased to 625 by JM Financi |
| BHARAT PETROL | Target Px decreased to 625 by Systematix |
| BILCARE LTD | Target Px decreased to 808 by HDFC Securit |
| CANARA BANK | Target Px increased to 540 by Spark Capita |
| COAL INDIA LTD | Target Px decreased to 322 by Alchemy R |
| COAL INDIA LTD | Target Px decreased to 290 by MSFL Rese |
| COX & KINGS LTD | Target Px decreased to 440 by Edelweis |
| DB REALTY LTD | Coverage Dropped at Neutral by JPMorgan |
| DECCAN CHRONICLE | Downgraded to Neutral by Motilal Oswa |
| DEN NETWORKS LTD | Upgraded to Buy by Elara Securities I |
| DISHMAN PHARMACE | Target Px decreased to 104 by Batliva |
| ELECON ENGINEER | Target Px decreased to 83 by Asit C Me |
| ESS DEE ALUMINIU | Target Px decreased to 575 by Batliva |
| FED BANK LTD | Downgraded to Outperform by Quantum Secur |
| GAMMON INFRASTRU | Target Px decreased to 25 by IDFC Sec |
| GAMMON INFRASTRU | Target Px decreased to 27 by Alchemy |
| GMR INFRASTRUCTU | Target Px decreased to 64.5999 by RBS |
| GREAT EASTERN SH | Target Px decreased to 316 by Jaypee |
| GREAT EASTERN SH | Target Px decreased to 365 by Dolat C |
| GUJARAT INDS | Downgraded to Hold by Emkay Share & Stock |
| HEXAWARE TECHNOL | Target Px increased to 140 by Anand R |
| HINDUSTAN PETRO | Target Px decreased to 428 by Systemat |
| HINDUSTAN PETRO | Target Px decreased to 335 by Batlival |
| HINDUSTAN ZINC | Coverage Initiated at Outperform by Sta |
| INDIAN OIL CORP | Target Px decreased to 428 by Systemat |
| IVRCL INFRASTRUC | Target Px decreased to 125 by Kotak S |
| IVRCL INFRASTRUC | Target Px decreased to 84 by HDFC Sec |
| IVRCL INFRASTRUC | Downgraded to Buy by ICICIdirect.com, |
| IVRCL INFRASTRUC | Target Px decreased to 85 by HSBC |
| IVRCL INFRASTRUC | Upgraded to Buy by Elara Securities I |
| IVRCL INFRASTRUC | Target Px decreased to 113 by Centrum |
| JAIPRAKASH ASSOC | Target Px decreased to 153 by IDFC Se |
| JAIPRAKASH ASSOC | Target Px decreased to 140 by Credit |
| JAIPRAKASH POWER | Target Px decreased to 76 by IDFC Sec |
| JK CEMENTS LTD | Target Px decreased to 131 by Equirus S |
| JK CEMENTS LTD | Target Px decreased to 179 by Centrum B |
| JUBILANT LIFE | Target Px decreased to 272 by Antique St |
| JUBILANT LIFE | Downgraded to Reduce by Kotak Securities |
| JUBILANT LIFE | Target Px decreased to 190 by MF Global |
| KALPATARU POWER | Target Px decreased to 187 by Kim Eng |
| KS OILS LTD | Target Px decreased to 55 by Batlivala & K |
| KSK ENERGY VENTU | Target Px decreased to 150 by Equirus |
| LUPIN LTD | Target Px increased to 470 by Execution Nobl |
| MAX INDIA LTD | Target Px increased to 190 by CLSA Asia |
| MAX INDIA LTD | Target Px increased to 173 by Batlivala |
| MERCATOR LINES | Upgraded to Buy by ICICIdirect.com, TgP |
| MERCATOR LINES | Target Px decreased to 47 by Batlivala |
| OIL INDIA LTD | Coverage Initiated at Buy by LKP Shares |
| ORIENTAL BANK OF | Target Px decreased to 487 by Dolat C |
| PANTALOON RETAIL | Target Px decreased to 325 by Ambit C |
| PANTALOON RETAIL | Target Px decreased to 459 by Antique |
| PANTALOON RETAIL | Target Px decreased to 378 by Motilal |
| PANTALOON RETAIL | Target Px decreased to 350 by UBS |
| PANTALOON RETAIL | Target Px decreased to 335 by JPMorga |
| PETRONET LNG LTD | Coverage Initiated at Reduce by BNP P |
| PIRAMAL HEALTHCA | Upgraded to Buy by ICICIdirect.com, T |
| PIRAMAL HEALTHCA | Target Px decreased to 480 by Dolat C |
| PIRAMAL HEALTHCA | Target Px decreased to 544 by Motilal |
| POLARIS SOFTWARE | Coverage Initiated at Buy by RBS, TgP |
| POWER GRID CORP | Upgraded to Buy on weakness by Tower C |
| PRAKASH INDS LTD | Target Px decreased to 155 by Quantum |
| PRAKASH INDS LTD | Target Px decreased to 163 by Sushil |
| PUNJ LLOYD LTD | Upgraded to Sell on rally by Tower Capi |
| REC LIMITED | Target Px decreased to 338 by Tower Capita |
| RELIANCE CAPITAL | Upgraded to Add by Kotak Securities, |
| RELIANCE COMMUNI | Target Px decreased to 82 by JPMorgan |
| RELIANCE COMMUNI | Target Px decreased to 123 by HDFC Se |
| RELIANCE COMMUNI | Downgraded to Reduce by ICICIdirect.c |
| RELIANCE COMMUNI | Target Px decreased to 127 by Centrum |
| RELIANCE COMMUNI | Target Px decreased to 110 by Anand R |
| RELIANCE COMMUNI | Downgraded to Reduce by Avendus Capit |
| RELIANCE COMMUNI | Target Px decreased to 110 by Standar |
| RELIANCE COMMUNI | Target Px decreased to 195 by UBS |
| RELIANCE INFRAST | Target Px decreased to 902 by Citi |
| RELIANCE INFRAST | Target Px decreased to 897 by Batliva |
| RELIANCE POWER | Target Px decreased to 115 by Kotak Sec |
| SHIV-VANI OIL & | Target Px increased to 558 by Edelweis |
| SHREE RENUKA SUG | Upgraded to Buy on weakness by Tower |
| SHREE RENUKA SUG | Target Px decreased to 102 by JM Fina |
| SIMPLEX INFRASTR | Downgraded to Accumulate by Angel Bro |
| SIMPLEX INFRASTR | Target Px decreased to 366 by ICICIdi |
| SIMPLEX INFRASTR | Target Px decreased to 390 by Spark C |
| SIMPLEX INFRASTR | Target Px decreased to 384 by Motilal |
| STERLITE INDUSTR | Coverage Initiated at Outperform by S |
| STERLITE TECH LT | Target Px decreased to 76 by JPMorgan |
| TATA MOTORS LTD | Upgraded to Strong buy by ICICIdirect. |
| TATA MOTORS LTD | Target Px increased to 1380 by JPMorga |
| TATA POWER CO | Target Px decreased to 1417 by Edelweiss |
| TATA STEEL LTD | Target Px decreased to 750 by Deutsche |
| TATA STEEL LTD | Target Px increased to 590 by JM Financ |
| TATA STEEL LTD | Downgraded to Accumulate by VCK Share & |
| TATA STEEL LTD | Target Px decreased to 746 by Fortune E |
| TATA STEEL LTD | Target Px decreased to 742 by Antique S |
| TATA STEEL LTD | Target Px decreased to 735 by Daiwa Sec |
| TATA STEEL LTD | Target Px decreased to 684 by Emkay Sha |
| TATA STEEL LTD | Upgraded to Buy by Dolat Capital Market |
| TATA STEEL LTD | Downgraded to Accumulate by Alchemy Res |
| TATA STEEL LTD | Target Px decreased to 761 by IDFC Secu |
| TATA STEEL LTD | Target Px decreased to 760 by Religare |
| TATA STEEL LTD | Downgraded to Accumulate by Prabhudas L |
| TATA STEEL LTD | Target Px increased to 786 by Batlivala |
| TECH MAHINDRA LT | Target Px decreased to 710 by Nomura |
| TORRENT PHARMA | Target Px decreased to 668 by IDFC Secu |
| TRIVENI ENGINEER | Target Px decreased to 103 by Antique |
| TRIVENI ENGINEER | Target Px decreased to 144 by Nomura |
| TRIVENI ENGINEER | Coverage Initiated at Buy by UBS, TgP |
| TULIP TELECOM E | Target Px decreased to 240 by Motilal |
| TULIP TELECOM E | Target Px decreased to 218 by Emkay S |
| TULIP TELECOM E | Target Px increased to 244 by JPMorga |
| TULIP TELECOM E | Target Px decreased to 210 by Citi |
| TULIP TELECOM E | Target Px decreased to 212 by Batliva |
| UNITECH LTD | Target Px decreased to 76 by IDFC Securiti |
| UNITECH LTD | Target Px decreased to 53 by Alchemy Resea |
| UNITECH LTD | Target Px decreased to 51 by Prabhudas Lil |
| UNITECH LTD | Target Px decreased to 55 by IFCI Financia |
| VOLTAMP TRANSFOR | Target Px decreased to 600 by Batliva |
| VOLTAMP TRANSFOR | Upgraded to Neutral by IFCI Financial |
| VOLTAMP TRANSFOR | Target Px decreased to 700 by JM Fina |
| VOLTAMP TRANSFOR | Target Px decreased to 656 by Emkay S |
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