December Most Popular Pages

(Updated Dec 30)

Motilal Oswal Reports

Marc Faber Portfolio 2007

Tech Mahindra Reports

Morgan Stanley Reports

Indiabulls Reports

Businessline Reports

IDBI Capital Reports

Citigroup Reports

Kotak Reports

Indiainfoline Reports & News

Emkay Reports

WOW India Reports

Sharekhan Investor's Eye

Edelweiss Capital

Hidden Gems


(Updated Dec 23)

Ultramega Projects - CLSA


Ultramega Projects - Sharekhan


Business Today - Dec 31 Issue - Retail


Citigroup - India Economics


Thailand Currency Update - Citigroup


IDBI Capital Reports


Citigroup Reports


Kotak Reports


Indiainfoline Reports & News


JP Morgan Special Focus


Emkay Reports


(Updated Dec 16)

Siemens

Industrial Growth Reports (Recommended!)

Zee Reports

IPO Reports

ENAM India Strategy (Recommended!)

Macquarie - Indian IT - Ready for Inorganic Growth

Macquarie - India Banking

CLSA - Bharti Airtel

CLSA - Infrastructure Update

CLSA - Offset Agreement

Deutsche - India in Contrasts

HSBC - Automobiles

Click on the SEARCH labels to GET additional/similar pages/reports

Other Popular Pages

Cairn IPO

Turning Dust to Gold

Frontier Springs

7 Stocks Newsletter

Morgan Stanley Reports

IDBI Capital Reports

Baba Kalyani's Invisible Wealth

Indiainfoline NEWS + Reports

Karvy Reports

Emkay Reports

If you looking for November's Most Popular Pages - CLICK HERE

To JOIN the Google group - Go to the bottom of the page and subscribe!

Money Times

Download here

Sharekhan Eagle Eye (equities) for December 18, 2006

3900 in sight
The Nifty traded firm for the third consecutive day, but failed to close above the 61% retracement level of 3900 after touching an intra-day high of 3908

Download here

Tech View - Dec 15 2006

(CLICK to VIEW FULL SIZE)

Sensex closed in green on 2nd consecutive day, up by 305 points at 13487 levels.Sensex opend with upside gap and sustained the gap throughout the day.

Sensex has formed Bullish pattern followed by continuation pattern which indicates strongness of pullback rally which signals another 200-300 or more points rally if maintain 13360 levels. As per weekly scenario, Sensex is forming a huge Bearish candle which indicates the possibilty of another 1500 points fall. To nullify this bearish scenario the current pullback rally must close above 13560 levels on last day of the session or must do sideway movement above today's gap for next 3-4 days. If it does then there could be chance of 14180 or more levels or else 11800 levels cold be witness as a trend reversal.


Support 1) 13400 2) 13320 3) 13280 4) 13230 imp.

Resistance 1) 13560 2) 13640 imp 3) 13790 imp 4) 13860.

Tech View - Dec 14 2006

(CLICK to view FULL image)

Sensex closed in green, up by 186 points at 13181 levels.

It was choppy session as Sensex opened up and slipped towards days low at 12830 levels but managed to close in positive at the end on 4th day of fall.

Sensex has formed a continuation pattern which indicates that weakness in the trend will continue ( minimum 12580 levels ) but, after a pullback rally of 300-400 points. On weekly basis Sensex is forming a huge bearish candle which leads another 1500 points fall. To nullify this bearish scenario this pullback rally must close above 13560 for next 2 days. If it close above 13560 then there could be chance of 14180 or more levels or else 11800 levels could be witness as a trend reversal.


Support 1) 13090 2) 13010 3) 12900 4) 12780.

Resistance 1) 13490 2) 13602 imp 3) 13790 4) 13860.

Tech Trends - Dec 14 2006

Download here

Thanks Vishesh

Sharekhan Investor's Eye dated December 12, 2006

IIP for October 2006 dips to 6.2%

The Index of Industrial Production (IIP) grew by 6.2% year on year (yoy) for October 2006, as compared to an 11.4% growth in September 2006 and a 9.8% growth in October 2005. The growth was significantly lower than the consensus estimate of 9.6%.

Key points

• The slowdown is not broad-based as basic goods are up 9.9% yoy, capital goods are up 8.2% yoy and intermediate goods are up 8.1% yoy.
• The slowdown is mainly in the consumer goods sector, which reported a 0.5% year-on-year (y-o-y) growth, with durables up only 2.4% yoy and non-durables down 0.4% yoy.
• The slowdown in the consumer goods production has largely been influenced by the festive season falling in the month October in the current fiscal compared to November in the previous fiscal.
• The decline in non-consumer durables production is somewhat strange as leading fast moving consumer goods (FMCG) companies have reported that the growth rate is normal. Further if we take a cue from the beverages and tobacco category which grew by 11.5% yoy the decline in non-durables remain a surpirse.

---

STOCK IDEA

Nucleus Software Exports
Cluster: Emerging Star
Recommendation: Buy
Price target: Rs680
Current market price: Rs497

Product play

Key points

• Niche player with established presence: Nucleus Software Exports Ltd (NSEL) is a niche player offering software products and services to companies in the banking and financial service space. It has established itself globally with product installation base of over 250 application modules in more than 30 countries.
• Product business drives growth: The product business grew exponentially in FY2006, on the back of some impressive order wins like the $12-million multi-year deal with GMAC. Apart from this, it added 21 new clients and bagged orders for 38 new installations in FY2006. In the first half of FY2007 also, the company added 14 new clients and continued to grow its pending order book that stood at Rs135 crore as on September 2006. Consequently, we expect the product revenues to grow at a CAGR of 67% over FY2006-08.
• Margins are sustainable: In spite of the cost pressures and the aggressive employee addition targets for this year, the company is likely to sustain its overall profitability. The growing contribution from the high-margin product business is expected to mitigate the adverse impact of the rising wage bill and the expansion-related pressures in the intermediate term.
• Alliance could throw positive surprises: The initiatives to forge joint marketing alliances with global technology giants and develop a network of channel partners could result in higher-than-expected order bookings. The partnership model has already started yielding results.
• Valuation: Revenues and earnings are estimated to grow at CAGR of 38% and 40% respectively over FY2006-08E At the current price the stock trades at 11x its FY2008 earnings, which is relatively cheaper compared with the peer companies. We recommend a Buy on NSEL with a one-year price target of Rs680.

---

STOCK UPDATE

Bank of India
Cluster: Apple Green
Recommendation: Buy
Price target: Rs185
Current market price: Rs165

Acquiring 76% stake in an Indonesian bank

Key points

• Bank of India (BoI) is set to acquire a majority 76% stake in Indonesian bank, P T Bank Swadesi Tbk, at an estimated cost of Rs111.3 crore ($25 million). The deal will be completed in another couple of months, as certain clearance issues need to be sorted out.
• The Indonesian bank is a mid-sized bank, listed on the Jakarta Stock Exchange and has been operating in Indonesia for the last 38 years. It has an asset base of Rs445 crore ($100 million), a deposit base of Rs333.8 crore ($75 million) and a net worth of Rs48.9 crore ($11 million).
• The Indonesian bank has four branches, two each in Jakarta and Surayaba, and five sub-branches. International business contributes approximately 20% of BoI’s assets as on September 30, 2006.
• BoI has been operating in Indonesia for the last 33 years through a representative office and hence its management felt that acquiring a local bank would be a better deal than setting up a bank in Indonesia as the capital requirements for setting up a new bank are high at Rs1,335 crore ($300 million).
• Since 20% of BoI’s assets are from foreign operations, we feel that the deal would add value to the bank’s overall operations considering the financials of the bank (refer table below). The bank acquired has an asset base of Rs445 crore (2% of BoI’s international assets and 0.4% of BoI’s total assets as on March 31, 2006) which we feel is fairly manageable.

---

MUTUAL FUNDS: WHAT’S IN—WHAT’S OUT

Fund Analysis: December 2006

An analysis has been undertaken on equity and mid-cap funds' portfolios, indicating the favourite picks of fund managers for the month of November 2006. Equity funds comprise of all diversified, index, sector and tax planning funds, whereas mid-cap funds include a universe of 17 funds such as Reliance Growth, Franklin India Prima Fund, HDFC Capital Builder, Birla Mid-cap Fund etc

Download here

Sharekhan Valueline - December 2006

Download here

MoneyTimes

Download here

Tech View - Dec 8 2006

(CLICK to view FULL SIZE)

Sensex closed in green marginally up by 22 points at 13972 levels with average volume of Rs 3787 cr.

A choppy session witnessed on 3rd consecutive days as Sensex opened up and slipped towards days low at 13915 levels and again managed to hit days new high at 14002 levels. At the end it managed to give positive close by 22 points.
Sensex closed in green marginally up by 22 points at 13972 levels with average volume of Rs 3787 cr.

A choppy session witnessed on 3rd consecutive days as Sensex opened up and slipped towards days low at 13915 levels and again managed to hit days new high at 14002 levels. At the end it managed to give positive close by 22 points.

Sensex has formed a Green candle which indicates the sign of pullback rally i.e. the weakness in the trend will remain as it is as long as Sensex holds below 13990 levels. The Empty bearish candle which was created on 5th of this month still has importance for bearish scenario. To nullify the importance of this candle Sensex must hold above 13990 levels for next day. If it does then 14180 level could be seen or else correction could be witness to 13760 or more.


Daily strategy: - If opens up and hold below 14040 levels then sell for the T1 of 13820 with Sl of 14080 levels.
Support 1) 13950 2) 13910 3) 13860 4) 13760

Resistance 1) 13990 2) 14040 imp 3) 14180 4) 14260 will nullify the rules of Irregular pattern.

Tech View: Dec 7 2006

(CLICK to view FULL SIZE)

Sensex closed in green ( as compared with yesterdays close ) marginally up by 11 points at 13949 levels with decent volume of Rs 4541 cr.

It was choppy session as Sensex opened with upside gap but failed to sustain above important 13990 levels and made a new low of 13847 levels as compared with yesterday.

Sensex has formed a Empty ( Bearish ) candle on 2nd consecutive days which indicates that the weakness in the trend will remain as it is. The Empty bearish candle which was created on 5th of this months still has importance for bearish scenario. To nuliffy the importance of this candle Sensex must hold above 13990 levels for next 2 days. If it does then 14180 level could be seen or else correction could be witness to 13760 or more.


Daily strategy : - If opens up and hold below 14030 levels then sell for the T1 of 13820 for the second half with Sl of 143940 levels.

Support 1) 13900 2) 13840 3) 13720 4) 13660

Resistance 1) 13990 2) 14040 imp 3) 14180 4) 14260

Tech View: Dec 6 2006

(CLICK on the image to view FULL size)

Sensex closed in green ( as compared with yesterdays close ) up by 63 points at 13937 levels with decent volume of Rs 4748 cr.


Sensex has formed a Empty ( Bearish ) candle which indicates weakness in the trend. It seems to be a profit booking on higher levels on 2nd day of the session as Sensex opened with hudge upside gap and closed up only by 63 points by forming a Empty candle. To nuliffy the importance of candle this candle Sensex must hold above 13990 levels. If it does then 14180 level could be seen or else correction could be witness to 13760 level.


Daily strategy : - If opens up and hold below 14030 levels then sell for the T1 of 13820 for the second half.
With Sl of 13940 levels.
Support 1) 13830 2) 13780 3) 13720 4) 13660

Resistance 1) 13990 2) 14040 imp 3) 14180 4) 14260

Technicals - Dec 5 2006

( Click to View FULL SIZE)

Sensex closed in green marginally up by 29 points at 13874 levels with decent volume of Rs 4808 cr..
A range bond market seen on the 1st session of the week as it traded in range of 13920 and 13830 levels.


Sensex has formed a Bullish candle with higher shadow pattern which indicates a temporary intraday weakness in the trend. It seems to be a profit booking on higher levels as Sensex does not sustain above 13900 levels. Sensex is trading in a channel for the last couple of days and still maintained the importance of the channel. As long as Sensex maintaines the channel the bias seems to be positive and 14000 levels could be witnessed. Failure of this could lead to 13180 or more lower levels.

Daily strategy: - If opens up and hold below 13930 levels then sell for the T1

of 13780 With Sl of 13940 levels.

Support 1) 13830 2) 13780 3) 13720 4) 13660

Resistance 1) 13890 2) 13930 imp 3) 13980 4) 14020