Market may remain firm

Gain in European markets and rise in Asian indices trend in the present trades could move up the local indices in early trades. Although the bias remains positive, investors should maintain caution as profit taking at higher levels may pull down the market. Among the local indices the Nifty could test 5000 on the downside while on the upper side it may move up to 5300. The Sensex has a likely support at 17000 and may face resistance at 18200.

Today's Pick - National Aluminium

We recommend a buy in National Aluminium Company (Nalco) from a short-term perspective. From the charts of Nalco it is evident that the stock has been on a long-term uptrend from its August 2007 low of Rs 237. However, in the medium-term the stock had been on a downtrend between early January to mid February (from its life high of Rs 546 to low of Rs 325). More recently the stock found support at the long-term support level at around Rs 325 (April 2006 peak) and bounced off resuming the uptrend. Following this, on February 18, the stock penetrated the medium-term down trendline. We note that there is an increase in volume for the past three trading sessions. The daily momentum indicator has entered the neutral region from the bearish zone. In addition, the long-term uptrend is still in place. We are bullish on the stock in the short-term. We expect the stock’s up move to persist further to our target price of Rs 430 in the short-term. Investors with a short-term perspective can buy the stock with stop-loss at Rs 355 levels.

Trading Calls - Feb 19 2008

Nifty 5277 Supp 5200 Res 5450

Buy Axis Bank (1051) SL 1035 Target 1071, 1079

Buy Glenmark (496) SL 491
Target 506, 509

Buy Gail (433) SL 429
Target 443, 446

Buy Educomp (4084) SL 4060 Target 4130, 4150

Sell Wipro (388) SL 393
Target 378, 375

Bulls hope to bowl’ them over!

To win you've got to stay in the game.

The lackluster markets may cause many to shift to their television screens to watch cricket. It’s a do or die situation for the Indian team which needs a good win to avoid being knocked out of the tournament. They’ve struck well with a couple of wickets at start. This is similar to our market movement which opens with a bang and ends with a whimper. But, the stock market is not a one-day game. It’s like a Test match though in the current conditions you have to play it one day at a time.

Bulls will hope for a much improved performance today. We see a positive start, but again like yesterday, trading may turn choppy and the mood will swing to the beat of the Asian and European markets.

Shares of OnMobile Global Ltd. will get listed today. The IPO of public sector power lending company Rural Electrification Corp. will open today. The issue is expected to do well despite the recent turbulence in the primary market and the disappointing listing of Reliance Power. Most brokerages have recommended a 'subscribe' to the issue.

Financial Technologies has informed that its subsidiary, the Multi Commodity Exchange of India Ltd. (MCX) yesterday filed the Draft Red Herring Prospectus (DRHP) with the Securities & Exchange Board of India (SEBI) in connection with the proposed IPO.

A number of uncertainties remain, especially on the global front. On the local front too, things are slowing down and India Inc. is clamouring for a rate cut. Whether the RBI Governor obliges them and the markets only time will tell. For now though, all eyes are on the Union Budget. Some say its become a non-event. We tend to agree to this growing view. But, the markets still look forward to it as quite a few proposals announced in the budget have a bearing on the sentiment.

The overall mood of the market tends to be positive in the run up to the budget. This year has been an exception so far, but the sentiment may improve over the next few days provided there are no new negative surprises from the global markets.

Nifty February futures discount decreased to 5 points from 12 points and around 6.46 lakh shares were added in open interest. But, volume in Nifty futures were significantly lower amidst huge volatility.

FIIs were net sellers of Rs3.42bn (provisional) in the cash segment on Monday. Local institutions too were net sellers of Rs1.34bn. In the F&O segment, FIIs were net buyers of Rs901.5mn. On Friday, foreign funds pumped in Rs11.47bn into the cash segment. Mutual Funds were also net buyers of Rs1.62bn on the same day.

The Government will give bonds worth Rs36.1bn to companies for selling fertilizer to farmers below cost. The bonds will have a coupon rate of 7.95% and will mature in 2026, the ministry said in a statement. This is the second and final tranche of bonds offered to the 23 fertilizer companies, it said.

Asian markets have extended their gains from yesterday. The Nikkei in Tokyo was up 75 points or 0.6% at 13,710 while the Hang Seng in Hong Kong climbed 381 points or 1.6% to 24,140. The Kospi in Seoul gained 17 points or 1% to 1713 while the Straits Times in Singapore advanced 17 points or 0.6% to 3100. The Shanghai Composite in China was flat at 4569 while the Taiex in Taiwan was up 77 points or 1% at 7968.

Mining companies rose after Rio Tinto said it was seeking price increases for its iron ore. Rio, the world's second-largest producer of iron ore, climbed to a two-month high on speculation that it will succeed in getting a bigger increase than its larger rival.

Toyota and Canon gained in Japan after the yen weakened against the dollar. National Australia Bank advanced after Qatar bought a stake in Credit Suisse.

The MSCI Asia Pacific Index gained 0.9% to 145.17 at 11:11 a.m. in Tokyo, with nine of its 10 industry groups climbing. All of Asia's benchmarks open for trading advanced, except in New Zealand and Vietnam.

Meanwhile, China's inflation accelerated to the quickest pace in more than 11 years last month after heavy snowstorms disrupted food supplies. Consumer prices rose 7.1% in January from a year earlier, the statistics bureau said today, after a 6.5% gain in December. The reading was more than the 7% average estimate of economists.

US financial markets were shut on account of the President's Day holiday. Investors will hope for the continuation of last week's rally in US stocks, but the nagging concern over the credit crisis and recession fears will continue to weigh on the market.

Market players will turn their attention to results from retailing giant Wal-Mart and a consumer-price inflation report. Wall Street will also consider reports from the beleaguered housing sector and results from JC Penney and tech heavyweight HP.

Results from European banks, many of which have been hit by the US mortgage meltdown, will also be keenly watched. Britain's Barclays will report on Tuesday and France's BNP Paribas will report on Wednesday.

Meanwhile, European shares rose on Monday with National benchmarks advancing in all 18 western European markets except Greece.

The pan-European Dow Jones Stoxx 600 index climbed 1.9% to 323.53, buoyed by big gains in UK banks after the British government said it will nationalize Northern Rock temporarily until it can find a buyer.

The UK's FTSE 100 closed up 2.8% at 5946.60, while the German DAX 30 advanced 2% to 6,967.55 and the French CAC-40 rose 1.9% to 4,861.80.

Credit Suisse rose the most in three weeks in Zurich after Qatar said it was buying shares in the second-biggest Swiss bank, while Barclays and Lloyds TSB climbed in London as traders speculated on higher dividends.

BHP Billiton followed metal prices higher in Europe, while Cia. Vale do Rio Doce rallied in Sao Paulo after winning a 65% price increase for iron ore from Japanese steelmakers.

Copper rose to a four-month high in London as imports from China, the world's largest user, increased to the highest level since April. Copper for delivery in three months rose 3.2% to $7,975 a ton on the London Metal Exchange, the highest intraday price since Oct. 18.

Most emerging markets ended sharply higher. The Bovespa in Brazil climbed 2.5% to 62,801 while the IPC index in Mexico gained 1.5% to 29,172. The RTS index in Russia rose by nearly 1.9% to 2026 and the ISE National 30 index in Turkey surged 3.5% to 57,253.

Markets to consolidate further

Markets snapped four day wining streak as selling gathered momentum. Key indices turned choppy and dull as benchmark indices were trading in a range for major part of the day. Selling pressure was seen in the IT, Realty and Oil & Gas stocks. However, it was the Small-Cap and the Mid-Cap stocks which ended with smart gains. Also, recently listed RPower which fell sharply hogged the limelight, as board of the company announced that they would consider bonus issue.

Finally, the 30-share Sensex closed at 18,048 losing 67 points. The NSE Nifty closed at 5,276 losing 26 points. Overall about 1,847 stocks advanced, 875 stocks declined while 50 stocks remained unchanged. Among the BSE 30 index 11 stocks advanced while 19 stocks declined.

KNR Construction provider of engineering, procurement and construction services across roads & highways, irrigation and urban water infrastructure management got listed on the bourses at Rs189 against its issue price of Rs170. However, immediately lost ground as investors preferred booking their profits. Finally the scrip ended at Rs154 slipping by almost 9% after hitting an intra-day high of Rs210 and a low of Rs151 and recorded volumes of over 54,00,000 shares on NSE.

RPower rallied by over 7.5% to Rs413 after the Board of Directors of the company announce that it would consider a proposal for issuing free bonus shares to all categories of shareholders, excluding the promoter group (comprising of Reliance Energy Ltd. and the ADA Group), and/or other measures, which will result in reduction of the cost of Reliance Power Ltd. shares below the IPO price of Rs430 per share for retail investors, and Rs450 per share for institutional and other categories of investors. The scrip touched an intra-day high of Rs430 and a low of Rs397 and recorded volumes of over 1,00,00,000 shares on NSE.

Nalco advanced by 7.5% to Rs389 as the company said that it raised prices by Rs8,000 per metric ton to Rs127,000. It raised prices for the second time this month after the metal gained in London. The scrip touched an intra-day high of Rs394 and a low of Rs364 and recorded volumes of over 99,000 shares on NSE.

Sesa Goa surged by over 6% to Rs3335 on reports that Japanese steelmakers, led by Nippon Steel Corp., have agreed to a 65% increase in annual iron ore prices could prove beneficial for the iron ore producer. The scrip touched an intra-day high of Rs3444 and a low of Rs3170 and recorded volumes of over 3,00,000 shares on NSE.

L&T slipped 1% to Rs3508. The company announced that it won Rs12.50bn order from ONGC. The scrip touched an intra-day high of Rs3598 and a low of Rs3410 and recorded volumes of over 3,00,000 shares on NSE.

BL Kashyap ended flat at Rs1576. The company announced that it won new project worth Rs11bn. The scrip touched an intra-day high of Rs1750 and a low of Rs1575 and recorded volumes of over 2,000 shares on BSE.

Goldiam International was locked at 5% upper circuit to Rs56.35 after the company announced that it would consider buy back of shares on February 25, 2008. The scrip touched an intra-day high of Rs56.35 and a low of Rs56.25 and recorded volumes of over 9,000 shares on NSE.

Flawless Diamond was down 2% to Rs80.50. The company announced that it launched 8 New Series of Designer Diamond Studded Jewellery. The Company developed 5000 exclusive Designer Jewellery for their valuable customer. After launching this Series of Jewellery, the product portfolio of the Company becomes more wider and giving better choice to the customer. The scrip touched an intra-day high of Rs85.90 and a low of Rs79 and recorded volumes of over 19,000 shares on BSE.

Bank of Baroda surged by over 4% to Rs427 after the bank announced that it would consider cutting lending rates on Feb. 23, 2008. The scrip touched an intra-day high of Rs432 and a low of Rs412 and recorded volumes of over 6,00,000 shares on NSE.

Kalindee Rail advanced by 2% to Rs424 after the company announced that it would mull raising Rs1.5bn via QIP. The scrip touched an intra-day high of Rs425 and a low of Rs402 and recorded volumes of over 7,000 shares on NSE.

News Snippets:

NTPC may partner MCX’s power exchange. (Mint)
Reliance Industries is in advanced talks with the New York based Vornado Realty Trust to float an over US$1bn fund. (ET)
IOC along with HPCL and BPCL would be importing an additional 73,000 ton LPG during February-March. (DNA)
ONGC has been registered with Iraqi authorities for tenders to develop the world’s third-largest oil reserves. (Mint)
Bharti Airtel has overtaken BSNL as the largest national long distance service provider in terms of revenues. (BL)
Tata Power has tied up with Thales to offer optronics solutions for India’s multi-role combat aircraft and other air-borne platforms. (BS)
Indiabulls has entered into the aviation sector with the launch of chartered aviation services. (BS)
Coal India plans to float a global tender for private participation in eight coal blocks on a long-term basis, by end-February. (BL)
Coal India may enter into fuel supply agreements with consumers beginning March. (BL)
Reliance Industries has accused the Petroleum Ministry of violating Parliament approved norms for oil and gas exploration. (BS)
RCOM has added 1.6mn mobile subscribers in January, taking its user base to 42.6mn. (ET)
Unitech is developing 97 acres under slum redevelopment project near the Vakola flyover. (DNA)
United Phosphorus has acquired Colombia-based Evofarms, a marketing company in the crop protection industry, for an undisclosed amount. (BS)
Hindalco and Nalco have raised prices by Rs8,000 a ton. (Mint)
Polaris Software plans to enter six new markets with its banking software products. (ET)
Everest Kanto Cylinders is acquiring a US company for ~US$70mn. (DNA)
Dredging Corp of India is in talks with Belgium based Dredging International for a JV. (DNA)
Apar Industries has completed sale of its polymer division for Rs1.1bn and will use the proceeds for expansion. (ET)
Hindustan Motors to expand dealerships for Mitsubishi products to 45 by FY09. (ET)
Bank of Baroda will consider lowering lending rates on February 23. (Mint)
Educomp Solutions has joined hands with Ansal Properties to set up schools in 16 integrated townships over the next three years. (BL)
Ansal Properties has deferred its proposed follow-on-public offer by couple of months. It is also planning to raise US$250-300mn from international private equity firms. (BL)
Rane Group will set up a components unit at Singur to extend support to the Tata Nano car plant. (BL)
Elecon Engineering plans to invest Rs2bn in the next two years to expand capacities in windmill gearbox manufacturing. (BL)
Deepak Fertilisers and Petrochemicals has launched a clean development mechanism project at its manufacturing plant in Taloja. (BL)
Fortis Healthworld has tied up with Godrej Adhaar to extend its reach to rural India. (BL)
The Orissa Pollution Control Board has issued a closure notice to Bhushan Power and Steel for not making arrangements for the suitable disposal of solid waste. (BS)
Essar Steel is considering setting up a 6mn tons a year slab making facility in Brazil. (BS)
Assam Co is planning to list one of the group companies on the AIM part of the London Stock Exchange, by October. (BS)
Uttar Pradesh Power Corporation will soon sign a MoU with NTPC to set up a 4,000 MW power plant in Lalitpur district of the Bundelkhand region. (BS)
Indian Overseas Bank has entered into a joint venture with a private financial company to start a new asset reconstruction company. (BS)
Aditya Birla Group is likely to enter into alloy steel production with a 2mn tons per annum plant through Vikram Ispat. (BS)
Satyam Computer Services has lined up Rs8bn investment in SEZs. (BS)
Merrill Lynch has increased its stake in Vakrangee Software to 7.72%. (BS)
The Reserve Bank of India has cleared the branch licence of Swiss bank UBS AG. (BL)
Real estate firm Landcraft Developers plans to invest about Rs10bn in the next five years. (BS)
Tata Sons has made Tata Investment Corporation its subsidiary by consolidating its stake to ~55%. (DNA)

Economic Front Page

The Finance Ministry has announced that fertilizer bonds for Rs36bn are being issued at par to 23 fertilizer companies. (BL)
Banks will now have to make withdrawals from ATMs free of charge for their own customers. Requests for balance enquiries would have to be made free to customers of other banks as well. (BL)
Payments of Rs10mn and above between banks, NBFCs, primary dealers and any other entities regulated by the RBI may be allowed only through electronic mode from April 1. (BL)
Income generated from agricultural advances by state cooperative banks and district central cooperative banks is likely to be exempted from tax from 2008-09. (BS)
The Union government has cleared seven projects, estimated to fetch a combined investment of about US$7bn over the next 10 years to the “Fab City” project in Hyderabad. (BS)
Negotiations for iron ore prices for the financial year beginning April 1 began at 30% higher and it appears that it would be more than 65%. (BS)
The information technology sector in West Bengal is likely to see addition of 20,000 jobs in 2008. (BS)
To increase transparency in the banking system, the Government and the regulator are considering bringing the risk-based assessment of banks in the public domain. (FE)
In the first one-and-half-months of 2008, 68 new FIIs have registered, almost a third of the total FIIs registered with Sebi in 2007. (FE)
The Government proposes to extend the Industrial Infrastructure Upgradation Scheme in the 11th Plan period. (ET)
The Government is considering one more tax-free year for 100% export-oriented units. (ET)
SEZ exports increased to US$10bn during Apr-Dec’07. (ET)

Morning Call - Feb 19 2008

Market Grape Wine :



Out House :

Markets at a support of 17786 & 17971 levels with resistance at 18228 & 18393 levels .

Buy : RIL

Buy : Sail & tisco

Buy : SBIN & IciciBank

Buy : JpHydro & Neyvelli

Buy : MRPL & EssarOIL

Buy : IBullsReal & Ibulls

Buy : JPAsso & IndiaGlycol

Buy : RPower & Adalbs

Dark Horse : SKumar , Aban RELCAP , Adlabs , EssarOIL , Neyvelli , RIL , Sbin , & Aban

Videocon Industries

Videocon Industries

KEC International

KEC International

SEAMEC

SEAMEC

Construction Sector

Construction Sector

Nifty February 2008 futures at premium

Turnover in F&O segment declines

Nifty February 2008 futures were at 5280.10, at a premium of 3.2 points as compared to spot closing of 5276.90.

The NSE's futures & options (F&O) segment turnover was Rs 32,416.67 crore, which was lower than Rs 42,675.67 crore on Friday, 15 February 2008.

Reliance Natural Resources February 2008 futures were near spot price, at 142.60, compared to the spot closing of 142.95.

Essar Oil February 2008 futures were at premium, at 231.30, compared to the spot closing of 230.20.

ICICI Bank February 2008 futures were at premium, at 1212, compared to the spot closing of 1209.80.

In the cash market, the S&P CNX Nifty lost 26 points or 0.49% at 5276.90.

Rural Electrification Corporation Review

Rural Electrification Corporation (REC), a public institutions financing power infrastructure in India, proposes to enter the capital markets with a public issue of 156.12 million equity shares of Rs 10 each through 100% book building process.

The issue comprises a fresh issue of up to 78.06 million equity shares by REC and an offer for sale of up to 78.06 million equity shares by the president of India acting through the ministry of power. The net issue to the public will be up to 152.21 million equity shares, after allowing for reservation of up to 3.90 million equity shares for subscription by eligible employees. The issue shall constitute nearly 18.18% of the fully diluted post-issue capital of REC.

Net proceeds from the fresh issue are to be utilised to augment capital base to meet the future capital requirement arising from the growth in assets, primarily its loan and investment portfolio.

REC was originally promoted to finance transmission and distribution (T&D) schemes aimed at improving the supply of electricity in rural areas and energise agricultural pump sets.

By this legacy, as the nodal agency for the RGGVY (Rajiv Gandhi Grameen Vidyutikaran Yojana), formed to promote electrification of all villages in India, REC has powers to administer grants and provides loans. It is also responsible for overseeing this programme from conception to completion.

Earlier, Power Finance Corporation (PFC) was the only government controlled financial institution focused on the power sector to fund across the entire chain of generation, T&D. But in 2002, the Union government granted permission to REC to fund power generation projects, too. Now the role of REC and PFC is almost identical: financing all types of power projects including T&D and generation throughout the country. REC enjoys an additional advantage: it gets 1% of the total disbursement under RGGVY as commission. The estimated share of REC in the approved outlay for RGGVY is about Rs 33000 crore in the current five-year plan (FY 2008-12), which is set to touch Rs 50000 crore in the next five-year plan.

Strengths

• The Eleventh Five-Year Plan (FY 2008-12) envisages addition of 70,000 MW of power capacity in the plan period. The investment needed in the T&D sectors in this plan period is expected to be Rs 1000000 crore.
• The loan sanctions and disbursements have grown at a CAGR of 28.37% and 13.51%, respectively, between the year ending March 2003 (FY 2003) and FY 2007.
• The overall cost of funds was 6.55% in the six months ended September 2007, favorably low compared with competitors. The relationship with the government of India provides access to lower cost funds and source of additional foreign currency loans at competitive rates.

Weakness

• Aggregate loans outstanding to state electricity coards (SEBs) and state power utilities (SPUs) stood at Rs 33764 crore, constituting 96.33% of the total loans outstanding, largely long-term, end September 2007. Thus, the weak credit quality of these public enterprises remains a business challenge as lending to these enterprises forms a major chunk of business.
• Asset quality remains poor compared with peer. The gross non-performing assets (NPA) and net NPA as a percentage to advances stood at 0.90% and 0.67% end September 2007. This is high compared with peer PFC, whose gross NPA and net NPA as a percentage to advances was 0.06% and 0.02%.
• Despite access to low-cost funds, net interest margin was comparable with PFC’s 3.76% end September 2007.
• Financial growth in the past is not encouraging with hardly any growth in profit over the years.
• There is a possibility of the business operations being used as tool for public policy than engine for profit maximisation by the government. This remains a major concern for shareholders and their wealth creation would remain vulnerable.

Valuation

FY 2007 EPS of REC on post-IPO equity comes to Rs 9. At the offer price band of Rs 90- Rs 105, the P/E works to 10 (on lower band) to 11.7 (on upper price band). Post-IPO, FY 2007 book value will be Rs 52.6- Rs 53.9 (depending on the final issue price). P/book value (BV) is 1.7-1.9. PFC currently trades around P/ FY 2007EPS of 21.5 and P/FY 2007 BV of 2.1.

NSE Bulk Deal Watch - Feb 18 2008

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
18-FEB-2008,CORDSCABLE,Cords Cable Industries Li,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,BUY,83294,148.95,-
18-FEB-2008,CORDSCABLE,Cords Cable Industries Li,MANISH VRAJLAL SARVAIYA,BUY,132808,149.62,-
18-FEB-2008,CORDSCABLE,Cords Cable Industries Li,PACE FINCAP PRIVATE LIMITED,BUY,79035,149.19,-
18-FEB-2008,HINDDORROL,Hindustan Dorr-Oliver Ltd,SHAIL INVESTMENTS PRIVATE LIMI,BUY,201501,140.00,-
18-FEB-2008,ITI,ITI Ltd.,MARUDHAR VYAPAAR PVT LTD,BUY,271000,44.31,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,DINESH MUNJAL,BUY,117086,116.85,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,MANISH VRAJLAL SARVAIYA,BUY,429005,114.20,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,NAMAN SECURITIES & FINANCE PVT LTD,BUY,158174,115.37,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,PRASHANT JAYANTILAL PATEL,BUY,179225,112.85,-
18-FEB-2008,KNRCON,KNR Constructions Limited,CPR CAPITAL SERVICES LTD.,BUY,155541,161.08,-
18-FEB-2008,KNRCON,KNR Constructions Limited,R.M. SHARE TRADING PVT LTD,BUY,227540,164.07,-
18-FEB-2008,XLTL,XL Telecom Limited,KOTAK MAHINDRA UK LTD,BUY,87519,310.00,-
18-FEB-2008,CORDSCABLE,Cords Cable Industries Li,ASTUTE COMMODITIES & DERIVATIVES Pvt Ltd,SELL,78294,148.42,-
18-FEB-2008,CORDSCABLE,Cords Cable Industries Li,MANISH VRAJLAL SARVAIYA,SELL,132808,150.93,-
18-FEB-2008,CORDSCABLE,Cords Cable Industries Li,PACE FINCAP PRIVATE LIMITED,SELL,83035,149.19,-
18-FEB-2008,GDL,Gateway Distriparks Limit,DEUTSCHE SECURITIES MAURITIUS LTD.,SELL,702971,108.76,-
18-FEB-2008,HINDDORROL,Hindustan Dorr-Oliver Ltd,SOMEREST EMERGING OPPRTUNITI FUN,SELL,200000,140.00,-
18-FEB-2008,ITI,ITI Ltd.,RUNNER MARKETING PVT LTD,SELL,267566,44.30,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,DINESH MUNJAL,SELL,117086,116.85,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,MANISH VRAJLAL SARVAIYA,SELL,429005,114.38,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,NAMAN SECURITIES & FINANCE PVT LTD,SELL,155636,115.55,-
18-FEB-2008,JKIL,J.Kumar Infraprojects Lim,PRASHANT JAYANTILAL PATEL,SELL,179225,114.42,-
18-FEB-2008,KNRCON,KNR Constructions Limited,CPR CAPITAL SERVICES LTD.,SELL,155541,161.26,-
18-FEB-2008,KNRCON,KNR Constructions Limited,DEUTSCHE INTERNATIONAL TRUST CORP.(MAURITIUS)LTD A/C MINIVET,SELL,245000,165.97,-
18-FEB-2008,KNRCON,KNR Constructions Limited,R.M. SHARE TRADING PVT LTD,SELL,227540,164.18,-

BSE Bulk Deals to Watch - Feb 18 2008

Deal Date	Scrip Code	Scrip Name	Client Name	Deal Type *	Quantity	Price **
18/2/2008	531400	ALMONDZ GLO	INNOVATE SECURITIES PVT LTD PRO AC	S	100000	70.00
18/2/2008	531541	AVON ORGANI	MACKERTICH CONSULTANCY SERVICES PVT LTD	B	400000	29.28
18/2/2008	531541	AVON ORGANI	VATICAN COMMERCIALS LTD	S	400000	29.28
18/2/2008	505506	AXON INFOTEC	SHEETAL KASHIRAM KADAM	B	4525	52.94
18/2/2008	590059	BIHAR TUBES	SECUROCROP SECURITIES INDIA P	B	51733	134.37
18/2/2008	590059	BIHAR TUBES	MANIBEN UGRABHAI PATEL	B	55000	135.00
18/2/2008	590059	BIHAR TUBES	GOLD LEAF INVESTMENTS PVT LTD	B	90000	135.50
18/2/2008	590059	BIHAR TUBES	SECUROCROP SECURITIES INDIA P	S	56600	135.36
18/2/2008	532941	CORDS CABLE	PACE FINCAP PRIVATE LIMITED	B	75493	148.73
18/2/2008	532941	CORDS CABLE	BHANDARI RAKHI KALPESH	B	127937	150.49
18/2/2008	532941	CORDS CABLE	PACE FINCAP PRIVATE LIMITED	S	75942	148.44
18/2/2008	532941	CORDS CABLE	BHANDARI RAKHI KALPESH	S	127937	149.00
18/2/2008	524388	CRAZY INFOTE	HANS CAPITAL AND LEASING PVT LTD	B	44500	40.20
18/2/2008	531137	GEMSTONE INV	BHUPESH RATHOD	S	80000	26.55
18/2/2008	532715	GITANJALI GE	DEUTSCHE SECURITIES MAURITIUS LIMITED	B	970000	282.05
18/2/2008	530263	GLOBAL CAP M	CLOCK SIGN TRADING CO. PVT LTD.	S	120000	10.40
18/2/2008	508918	GREYCELLS EN	PRIME SECURITIES LTD	B	16000	219.00
18/2/2008	530117	H.K.FINECHEM	DHIREN S. SHAH	B	110000	17.30
18/2/2008	530117	H.K.FINECHEM	DIPTI D. SHAH	S	110000	17.30
18/2/2008	509627	HINDUS DOR O	SHAIL INVESTMENTS PRIVATE LIMI	B	248499	140.00
18/2/2008	532100	INDOCITY INF	SHASHI ANIL JAIN	B	100000	5.70
18/2/2008	523062	J J FINANCE	MANOJ KUMAR AGARWAL	S	15000	9.55
18/2/2008	530885	JAISAL SECUR	FATHIMUNNISA INVESTMENT P LTD	B	24724	57.90
18/2/2008	516078	JUMBO BAG LT	OM PRAKASH BANGA	B	50000	39.22
18/2/2008	512413	KHAITAN WVG	GIRIRAJ STOCK AND SECURITIES PVT LTD	B	13000	60.30
18/2/2008	512413	KHAITAN WVG	BHAROSEMAND COMMODITIES PVT LTD	B	6550	60.30
18/2/2008	512413	KHAITAN WVG	KALYANI BARTER PVT LTD	S	17000	60.30
18/2/2008	531413	KIRAN PRIN P	NIKUNJ ALLOYS AND STEEL PRIVATE LIMITED	S	100000	5.01
18/2/2008	501209	MAST MEDI SY	MAVI INVESTMENT FUND LTD	B	25000	60.00
18/2/2008	531834	NATURA HUE C	SHREEJI SECURITIES	S	92850	19.35
18/2/2008	531273	RADHE DEVELO	BIBHAS BHAGWANDAS ASAR	B	51384	104.15
18/2/2008	522207	RASAND ENG I	MACKERTICH CONSULTANCY SERVICES PVT LTD	B	43000	96.25
18/2/2008	522207	RASAND ENG I	VATICAN COMMERCIALS LTD	S	43000	96.25
18/2/2008	507998	SIMMOND MARS	CHETAN N SHAH	B	11650	77.20
18/2/2008	530155	TONIRA PHARM	IPCA LABORATORIES LIMITED	B	70181	26.96

Post Session Commentary - Feb 18 2008

The Sensex opened with a positive gap of 113 points at 18,228, and touched a high of 18,257 in early deals. The index, however, could not hold gains as profit-taking at higher levels saw the index slip into negative zone.

Profit-taking was seen mostly in technology, oil & gas and realty stocks. The index dropped to a low of 17,901 - down 356 points from the day's high - in mid-noon trades.

A fresh round of buying in FMCG scrips - Hindustan Unilever (HUL) and ITC - helped the index recover some loss and eventually end with a loss of 67 points at 18,048.

The index had gained around 1,500 points in the last three trading days last week.

The BSE Realty index dropped 2.8% to 10,207, and the IT index slipped 1.3% to 3,829. The FMCG index, howver, gained 2.3% at 2,258.

The NSE Nifty slipped 26 points to close at 5,277 today.

The BSE market breadth was fairly positive - out of 2,772 stocks traded, 1,848 advanced and 874 declined today.

INDEX SHAKERS...

Satyam plunged nearly 3% to Rs 426. TCS slipped over 2% to Rs 852, and Wipro shed 1.5% at Rs 414.

Tata Motors tumbled 2.5% to Rs 733. DLF, BHEL and SBI slipped 2% each to Rs 860, Rs 2,216 and Rs 2,255, respectively.

Reliance dropped 1.5% to Rs 2,552, and ONGC was down over 1% at Rs 1,021.

...AND THE MOVERS

Mahindra & Mahindra rallied 4% to Rs 643. Hindalco soared over 3% to Rs 184.

ITC surged 3.3% to Rs 210, and HUL moved up 2.5% to Rs 217.

ICICI Bank advanced 1.4% to Rs 1,208. Bajaj Auto was up over 1% at Rs 2,200.

VALUE & VOLUME TOPPERS

Reliance Power topped the value chart with a turnover of Rs 472 crore followed by Reliance Natural Resources (Rs 376 crore), Essar Oil (Rs 166.50 crore), Reliance Capital (Rs 158.60 crore) and Reliance Petroleum (Rs 153.60 crore).

Reliance Natural Resources led the volume chart with trades of around 2.66 crore shares followed by Ispat Industries (2.22 crore), Reliance Power (1.13 crore), Nagarjuna Fertilisers (99.25 lakh) and Himachal Futuristic (93.70 lakh).

Rural Electrification Corporation IPO

Rural Electrification Corporation IPO