Budget Preview - Feb 23 2011
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Wednesday, February 23, 2011
Daily News Roundup - Feb 23 2011
L&T is in talks to supply nuclear equipment to Electricite de France. (ET)
Coal India has placed an order for two giant (91.7 tonne payload each) electric mining shovels with 17-year maintenance and repair contract worth Rs5.9bn to the US-based P&H Mining Equipment Inc. (BL)
Sensex succumbs to global sell-off
The Indian markets ended in the negative terrain, tracking weak cues from the international equity markets as the political turmoil in the Middle East continued to worsen, sending oil prices sharply higher. Also, Japanese shares fell after Moody’s cuts its outlook to negative from stable. Sentiment is also edgy ahead of the F&O expiry on Thursday and the Union Budget on Feb. 28.
Worried Wednesday in store
Nothing will ever be attempted, if all possible objections must be first overcome. -Samuel Johnson.
With risk appetite on the wane, investors are not really attempting to take any chances. Flight-to-safety seems to be the order of the day but the political strife in West Asia does not really make any place safe. Even as the pro-democracy wave rages, investors are now wondering what next after Libya?
Tuesday, February 22, 2011
BSE Bulk Deals to Watch - Feb 22 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
22/2/2011 531720 Alpha Graphic KALPESH KIRTIKUMAR SHAH B 40000 9.15
22/2/2011 531720 Alpha Graphic SONAL INTERNATIONAL LTD S 64170 9.10
NSE Bulk Deals to Watch - Feb 22 2011
Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
22-FEB-2011,ARSSINFRA,ARSS Infra Proj. Ltd,GARNET INTERNATIONAL LTD,BUY,88937,727.28,-
22-FEB-2011,HINDCOMPOS,Hindustan Composites Ltd,HINDUSTAN COMPOSITES LTD BUYBACK OF EQUITY SHARES ACCOUNT,BUY,41983,547.96,-
Research Calls - Feb 22 2011
| Company | Actions |
| ALSTOM PROJECTS | Target Px increased to 537 by IIFL |
| ASIAN PAINTS LTD | Target Px increased to 2980 by JM Fin |
| BGR ENERGY SYS | Target Px decreased to 608 by Goldman S |
| BHARAT HEAVY ELE | Target Px increased to 2539 by IIFL |
| BHARAT HEAVY ELE | Target Px increased to 2432 by Goldma |
| BL KASHYAP&SONS | Target Px decreased to 24 by IIFL |
| CAIRN INDIA | Target Px increased to 400 by Deutsche Ban |
| COAL INDIA LTD | Target Px decreased to 322 by India Inf |
| CROMPTON GREAVES | Target Px decreased to 321 by Spark C |
| CROMPTON GREAVES | Target Px increased to 366 by Spark C |
| CUMMINS INDIA | Target Px decreased to 770 by Goldman Sa |
| GLAXOSMITHKLINE | Target Px increased to 2391 by HDFC Se |
| GLAXOSMITHKLINE | Coverage Initiated at Buy by Nomura |
| GLAXOSMITHKLINE | Target Px increased to 1985 by Credit |
| GLAXOSMITHKLINE | Target Px increased to 2121 by Morgan |
| GMR INFRASTRUCTU | Target Px decreased to 45 by Goldman |
| GVK POWER & INFR | Target Px decreased to 36 by Goldman |
| HINDALCO INDS | Coverage Initiated at In-line by Standar |
| HINDUSTAN CONST | Target Px decreased to 36 by IIFL |
| HINDUSTAN CONST | Target Px decreased to 41 by Goldman S |
| IL&FS TRANSPORTA | Target Px decreased to 277 by Goldman |
| INDUSIND BANK | Coverage Initiated at Outperform by Cred |
| IRB INFRASTRUCTU | Target Px decreased to 234 by Goldman |
| IVRCL INFRASTRUC | Target Px decreased to 93 by Goldman |
| JAIPRAKASH ASSOC | Target Px decreased to 106 by Goldman |
| JAIPRAKASH ASSOC | Target Px decreased to 123 by Morgan |
| JUBILANT FOODWOR | Coverage Initiated at Buy by Nomura |
| JYOTI STRUCTURES | Target Px decreased to 110 by Spark C |
| JYOTI STRUCTURES | Target Px increased to 145 by Spark C |
| KALPATARU POWER | Target Px decreased to 160 by Spark Ca |
| KALPATARU POWER | Target Px increased to 199 by Spark Ca |
| KEC INTL LTD | Target Px decreased to 107 by Spark Capit |
| KEC INTL LTD | Target Px increased to 595 by Spark Capit |
| LARSEN & TOUBRO | Upgraded to Buy/Neutral by Goldman Sac |
| MAHINDRA & MAHIN | Downgraded to Hold by Brics Securitie |
| MARICO LTD | Target Px decreased to 127 by MF Global Equ |
| MUNDRA PORT | Coverage Initiated at Buy by Antique Stock |
| NAGARJUNA CONST | Target Px decreased to 138 by Goldman |
| NATIONAL ALUMIN | Coverage Initiated at Underperform by |
| NESTLE INDIA LTD | Target Px increased to 3840 by India |
| NESTLE INDIA LTD | Target Px decreased to 3806 by Batliv |
| NESTLE INDIA LTD | Upgraded to Add by IIFL, TgPx |
| NESTLE INDIA LTD | Target Px increased to 3520 by JPMorg |
| NESTLE INDIA LTD | Upgraded to Neutral by Nomura |
| NESTLE INDIA LTD | Upgraded to Buy by Antique Stock Brok |
| NESTLE INDIA LTD | Target Px increased to 3350 by CLSA A |
| OIL & NATURAL GA | Upgraded to Buy by RBS, TgPx |
| PARSVNATH DEVEL | Target Px decreased to 36 by Elara Sec |
| PSL LTD | Target Px decreased to 130 by Quantum Securiti |
| PUNJ LLOYD LTD | Downgraded to Sell/Neutral by Goldman S |
| SHIV-VANI OIL & | Target Px decreased to 400 by Elara Se |
| SINTEX INDUS LTD | Target Px decreased to 202 by Goldman |
| STRIDES ARCOLAB | Coverage Initiated at Outperform by Ma |
| SUN TV NETWORK | Target Px decreased to 508 by Spark Cap |
| THERMAX LTD | Target Px decreased to 726 by Spark Capita |
| THERMAX LTD | Target Px increased to 835 by Spark Capita |
| THERMAX LTD | Target Px decreased to 740 by Goldman Sach |
| VOLTAMP TRANSFOR | Target Px decreased to 618 by Spark C |
| VOLTAMP TRANSFOR | Target Px increased to 819 by Spark C |
| VOLTAS LTD | Upgraded to Neutral/neutral by Goldman Sach |
| WIPRO LTD | Upgraded to Outperform by Credit Suisse, TgP |
| WIPRO LTD | Upgraded to Overweight by JPMorgan, TgPx |
| WIPRO LTD | Upgraded to Outperform by CLSA Asia Pacific |
Asian markets witness bloodbath amid Middle East skirmish
Most indices end with steep losses, DOW futures down more than 100 points
Asian stocks dipped sharply today as poor week continued amid gyrating political tensions in the Middle East. Worries over the violent protests in Libya could lead to a further spread of the current public uprising in the Middle East region hurt the sentiments and stocks mostly ended with steep losses today. The US markets were closed yesterday on account of the Presidents' Day holiday but the DOW futures skidded intensely lower today, shedding more than 100 points and making it impossible for the indices in Asia to launch a late comeback as they did in the last session.
Most sectoral indices on BSE decline
The key benchmark indices edged lower in choppy trade as macroeconomic worries arising from surging crude oil prices and geopolitical tensions due to crisis in Libya weighed on the sentiment. Global stocks fell as investors were worried about the risk of the unrest in Libya spreading to bigger economies such as Saudi Arabia and China. Eleven out of 13 sectoral indices on BSE were in negative zone. The market breadth was weak. Capital goods, auto, banking and metal stocks witnessed selling pressure. The Nifty fell below the 5,500 level, having moved above and below that level alternatively in intraday trade.
Daily Grey Market Premiums - Feb 22 2011
| Company Name | Offer Price (Rs.) | Premium (Rs.) |
| Sudar Garments | 72 to 77 | 3.50 to 4 |
| Acropetal Technologies | 88 to 90 | 5 to 5.50 |
| Fineotex Chemical | 60 to 72 | 3 to 3.50 |
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