Brokers bullish on NIIT Tech, Everest Kanto, Tata Steel

Motilal Oswal has kept buy rating on NIIT Tech; with a target of Rs 432.

Citigroup has kept buy rating on Everest Kanto Cylinder; with a target of Rs 950.

Karvy has kept buy rating on Tata Steel; with a target of Rs 671.

ICICI Securities has maintained buy rating on Bajaj Auto and Maruti.

ICICI Securities has maintained buy rating on Hero Honda and Bharat Forge.

ICICI Securities has kept sell rating on BPCL and HPCL.

ICICI Securities has kept buy rating on Indraprastha Gas.

Deutsche Bank has maintained buy rating on PNB and BOB.

Deutsche Bank has kept buy rating on OBC and HDFC Bank.

Deutsche Bank has kept sell rating on Canara Bank.

Deutsche Bank has kept hold rating on Union Bank.

Brokers bullish on Int Combustion, RIL, Reliance Comm

JM Morgan Stanley has kept underweight rating on SBI; with a target of Rs 800

Sushil Finance has kept buy rating on International Combustion; with a target of Rs 435

Enam has kept outperformer rating on Essel Propack

Karvy has kept market performer rating on Bajaj Hindustan; with a target of Rs 235

Karvy has kept market performer rating on Anant Raj Ind

DSP Merrill Lynch has kept buy rating on RIL; with a target of Rs 1320

Citigroup has kept buy rating on Reliance Communications; with a target of Rs 570

Citigroup has kept buy rating on Tata Teleservices; with a target of Rs 24

Brokers bullish on UltraTech Cement, Aventel Softech

Anandrathi has kept outperformer rating on Jindal Saw; with a target of Rs 440.

Edelweiss has maintained reduce rating on Bajaj Hindustan.

Emkay PCR has kept buy rating on Ultratech Cement; with a target of Rs 1122.

Emkay PCR has kept hold rating on Praj Ind; with a target of Rs 222.

Karvy has kept buy rating on Aventel Softech ; with a target of Rs 85.

Kotak PCR has kept buy rating on Allcargo Global Logistics; with a target of Rs 1224.

Kotak PCR has maintained buy rating on Gateway Distriparks; with a target of Rs 259.

Brokers bullish on Guj Mineral, Cadila Health, SREI Infra

Angel Broking has maintained buy rating on Gujarat Mineral; with a target of Rs 480

Angel Broking has maintained buy rating on Cadila Healthcare; with a target of Rs 430

Emkay Research has kept buy ratingy on SREI Infra; with a target of Rs 70

Emkay Research has kept buy rating on Global Vectra; with a target of Rs 334

Prabhudas Lilladher has maintained outperformer rating on Marico

Prabhudas Lilladher has maintained market performer rating on Tata Motors

Sharekhan has kept buy rating on Alphageo; with a target of Rs 214

Brokers bullish on SREI Infra, L&T, Alembic, Marico

Emkay has kept buy rating on SREI Infrastructure; with a target of Rs 70.

Citigroup has kept buy rating on L&T; with a target of Rs 1579.

CLSA has kept outperformer rating on Reliance Communications; with a target of Rs 486.

ICICI Securities has kept buy rating on Alembic; with a target of Rs 87.

ICICI Securities has kept buy rating on Marico and Adlabs Films.

DSP Merrill Lynch has kept buy rating on Panacea Biotech; with a target of Rs 513.

Karvy has maintained outperformer rating on ACC; with a target of Rs 1230.

Karvy has kept buy rating on Tata Steel; with a target of Rs 671.

Karvy has kept buy rating on JSW Steel; with a target of Rs 468.

ET - Reliance Money brokerage fees

Brokerage rates for stock market transactions are yet to bottom out. Reliance Money, the financial services division of the Anil Dhirubhai Ambani Group-promoted Reliance Capital, is set to unleash yet another round of price war in this segment.

According to an email sent by a Reliance Money franchisee to a prospective client, the company is offering a brokerage charge of 7.4 paise on every Rs 100 worth of delivery-based trades, and 2 paise on non-delivery trades, which some rival brokers admit is the lowest in the industry so far.

"We would not like to comment on this at this point in time. The details of the offering are still being worked out," a Reliance spokesperson said.

Reliance Money is to offer a common platform for investors to invest in all equity products, commodities, forex, IPOs, insurance and other financial products.

While the company has not formally announced the launch of its operations, many traders said they have been approached by Reliance Money franchisees . Retail brokerage houses fear that Reliance Money may rewrite the rules of the broking business, distorting business dynamics in the short term, the way the Reliance group had done when it forayed into the telecom sector some four years ago.

"Broking has completely become a balance-sheet game as there is very little to distinguish between the services offered by various firms," said the head of a retail brokerage house. "A large player like Reliance has the capacity to absorb losses for a couple of years, making life difficult for rivals," he added.

DELIVERY TRADES

In a Rs 500 card, an investor gets a maximum delivery limit of Rs 10 lakh; so, the initial fixed cost is 5 paise. The investor will be charged Rs 12 per trade if he purchases through a series of trades. If he buys shares worth Rs 10 lakh in 20 trades, at an average of Rs 50,000 per transaction, the total brokerage charge will be Rs 740 (500+240), which works out to 7.4 paise per Rs 100 worth of transaction

INTRA-DAY TRADES

For non-delivery trades, an investor can take exposure up to Rs 90 lakh on a Rs 500 card. Suppose the investor uses up his limit in 90 trades of Rs 1 lakh each, at Rs 12 per trade, his total charge will be Rs 1,580 (1,080+500)

Reliance Money Details

Reliance Money - the online brokerage from Reliance ADAG has started offering online trading accounts

Visit at Reliance Money

To open an account - Fill in your details here

Expect them to create quite a flutter like the days when Reliance Communications (then Reliance Infocomm) came in with those Rs 500 connections

Thanks Vishesh for the pointer