BSE Bulk Deals to Watch - June 16 2008

Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
16/6/2008 526711 ADARSH PLA P VISHHAL KEDIA B 87000 11.70
16/6/2008 526711 ADARSH PLA P SUDHA PARASARAMPURIA S 87000 11.70
16/6/2008 532981 ANU LABS SHAILESH M. NISSAR B 2001667 331.20
16/6/2008 532981 ANU LABS PRABHUDAS LILLADHER PVT. LTD. B 162810 369.57
16/6/2008 532981 ANU LABS ASTUTE COMMODITIES AND DERIVATIVES PVT LTD B 60598 378.10
16/6/2008 532981 ANU LABS SUMMIT COMMUNICATIONS PVT LTD S 125000 343.94
16/6/2008 532981 ANU LABS S. M. NISSAR S 278603 363.51
16/6/2008 532981 ANU LABS PRABHUDAS LILLADHER PVT. LTD. S 162810 369.91
16/6/2008 532271 CYBERMAT INF S V ENTERPRISES B 447746 5.02
16/6/2008 532271 CYBERMAT INF S V ENTERPRISES S 367986 5.03
16/6/2008 517973 DMC INTER J.A.FINANCIAL AND MANAGEMENT CONSULTANT PVT.LTD. S 20000 9.61
16/6/2008 500147 FLAP PROD EQ INDIA DIVERSIFIED MAU LTD S 33011 301.76
16/6/2008 532622 GATEWAY DIST SATPAL KHATTAR B 3000000 90.00
16/6/2008 532622 GATEWAY DIST THAKRAL INV. HOL MAURITIUS LIMITED S 3000000 90.00
16/6/2008 531863 GEEKAY FINAN LOTUS GLOBAL INVESTMENTS LIMITED B 65000 61.44
16/6/2008 532081 K SERA SERA S V ENTERPRISES B 382479 24.86
16/6/2008 532081 K SERA SERA S V ENTERPRISES S 369423 24.39
16/6/2008 531261 KUSHAGRA SO ROMY REALTY PRIVATE LTD. B 141800 6.52
16/6/2008 500257 LUPIN LTD CITI CORP BANKING CORPORATION FDI S 669000 707.46
16/6/2008 506261 MODISON META FUTURE VENTURES INDIA LTD B 600000 31.00
16/6/2008 506261 MODISON META DSP MUTUAL FUND TRUSTEE CO PVT LTD AC DSP MICRO CAP FUND S 600000 31.00
16/6/2008 531769 PFL INFOTECH VISHU ENTERPRISE B 35300 11.26
16/6/2008 504378 RAVINAY TRAD SUSHILKUMAR R. NEVATIA S 3200 9.82
16/6/2008 504378 RAVINAY TRAD NIRMALA S. NEVATIA S 1750 9.82
16/6/2008 531869 SACHETA META ANITA JEEVAN JAIN S 37800 20.55
16/6/2008 531431 SHAKTI PUMPS ROULEX INVESTMENTAND F P LTD B 38168 126.42
16/6/2008 531249 WELL PACK PA VINOD KUMAR MAFATLAL PATEL S 25000 32.90
16/6/2008 531249 WELL PACK PA PUSHPABEN VINODBHAI PATEL S 25000 32.90

NSE Bulk deals to Watch - June 16 2008

Date,Symbol,Security Name,Client Name,Buy/Sell,Quantity Traded,Trade Price / Wght. Avg. Price,Remarks
16-JUN-2008,ANSALHSG,Ansal Housing and Constru,CITIGROUP GLOBAL MARKETS MAURITIUS PVT LTD,BUY,180000,125.00,-
16-JUN-2008,CHAMBLFERT,Chambal Fertilizers Ltd.,P R B SECURITIES PRIVATE LTD,BUY,2041641,93.50,-
16-JUN-2008,GHCL,GHCL Limited,HARSIDDH SPECIFIC FAMILY TRUST,BUY,600000,74.51,-
16-JUN-2008,NAGARFERT,Nagarjuna Fert & Chem,CLEAN FINANCE & INVESTMENT LTD,BUY,5936904,48.28,-
16-JUN-2008,NAGARFERT,Nagarjuna Fert & Chem,PACE FINANCIAL SERVICES,BUY,2510311,48.48,-
16-JUN-2008,ANSALHSG,Ansal Housing and Constru,CLSA (MAURITIUS) LIMITED,SELL,183518,125.01,-
16-JUN-2008,CHAMBLFERT,Chambal Fertilizers Ltd.,P R B SECURITIES PRIVATE LTD,SELL,2098394,93.51,-
16-JUN-2008,NAGARFERT,Nagarjuna Fert & Chem,CLEAN FINANCE & INVESTMENT LTD,SELL,5936904,48.29,-
16-JUN-2008,NAGARFERT,Nagarjuna Fert & Chem,PACE FINANCIAL SERVICES,SELL,2510411,48.48,-
16-JUN-2008,PIRLIFE,Piramal Life Sciences Lim,FID FUNDS (MAURITIUS) LIMITED,SELL,241878,271.77,-

Post Session Commentary - June 16 2008

Indian market ended in green on the back of buying support from realty, banking, metal, technology and oil & gas stocks. The domestic market opened with positive note and was trading firm on the back of strong global cues and slide in crude oil prices. Further it continued to trade in positive territory with gaining investors’ confidence and ended on a upbeat note. The BSE Sensex was trading above 15300 mark and the NSE Nifty 4500 mark. Oil crude futures fell on Monday and stood marginally above $134 a barrel after the UN chief informed that the top OPEC crude producer Saudi Arabia had agreed to increase its output by the next month by about a half million barrels a day to help record high prices. From the sectoral front, realty, banking, metal, technology and oil & gas stocks held gains of market while consumer durables and auto stocks were out of favor during final trading hours. Due to increase in excise duty by Union government on large cars, multi-utility vehicles and sports utility vehicles with an engine cubic capacity exceeding 1500, auto stocks dropped. The market breadth was positive as 1,776 stocks closed in green while 872 stocks closed in red.

The BSE Sensex closed higher by 206.20 points at 15,395.82 and NSE Nifty ended up by 55.40 points at 4,572.50. The BSE Mid Caps and Small Cap closed positive with increase of 71.55 points and 87.39 points at 6,299.72 and 7,669.11 respectively. The BSE Sensex touched intraday high 15,553.37 and intraday low of 15,333.07.

Gainers from the BSE are Reliance Infra (4.31%), ICICI Bank (4.43%), Reliance Infra (3.97%), Bharti Airtel (3.15%), NTPC Ltd (3.07%), Cipla Ltd (2.58%), HDFC Bank Ltd (2.50%), DLF Ltd (2.39%) and Infosys Tech (2.34%).

The Reality Index closed higher by 200.64 points at 5,870.87. Gainers are Indiabulls Real (6.75%) along with Unitech Ltd (5.63%), Purvankara (4.32%), Pheonix Mill (4.17%), Housing Development (3.66%), Penland Ltd (3.02%) and DLF Ltd (2.39%).

The Banking index closed up by 199.39 points at 7,255.63. Gainers are Axis Bank (4.51%), ICICI Bank (4.43%), Bank of Baroda (4.01%), PNB (3.82%), Union Bank (3.55%) and IOB (2.57%).

The Metal index increased by 188.85 points to close at 15,374.77. Major gainers are Welspan Gujarat Sr (9.63%), Jindal Saw (7.14%), JSW SL (5.10%), Sterlite Industries (3.25%),Gujarat Nre C (2.36%) and Jindal Stainless Steel (2.01%).

The Oil & Gas index closed up by 99.05 points at 10,016.06. As Gail India (4.50%), BPCL (3.37%), Essar Oil Ltd (3.23%), HPCL (1.77%), Reliance Natural Resources (1.11%) and Reliance Petroleum (0.81%) closed in positive territory.

The IT index closed upward by 77.29 points at 4,413.35. Gainers are NIIT Tech (3.14%), Patni Computer (2.48%), Infosys Tech (2.34%), Rolta India (2.23%), Financ Tech (2.19%), and Aptech Ltd (2.05%).

The Consumer Durables index decreased by 23.43 points to close at 3,958.12 as Titan Ind (2.55%), Lloyd Ele En (1.74%), Videocon India (0.43%) and Blue Star L (0.34%) closed in negative territory.

Auto index dropped by 5.91 points to close at 4,123.88. Major losers are Herohonda Motors (1.83%), Bharat Forge (1.44%), Marutisuzuki (0.52%), Apollo Tyre (0.51%) and M&M (0.23%)

Market ends upbeat, gains 206 points

The market was back on track after slipping on Friday. Though it came off its highs, but still ended firm above the 15,350 mark. The bounce from the recent sell-off was in line with the recovery witnessed in the major Asian indices, which were up around 1% each. The Sensex resumed 143 points higher at 15,333 and advanced further on substantial buying support. Buying in realty and banking stocks propelled the index to an intra-day high of 15,553 in afternoon trades. After an initial upmove, the Sensex witnessed profit taking in the second half of the session and erased most of its gains to touch an intra-day low of 15,333. The index finally wrapped up the session with gains of 206 points at 15,396, while the Nifty closed with gains of 55 points at 4,573.

Of the 2,724 stocks traded on the BSE 1,770 stocks advanced, 878 stocks declined and 76 stocks ended unchanged. Among the sectoral indices, the BSE Realty index was the major gainer and was up 3.54% at 5,870.87 followed by the BSE Bankex index that was up 2.83% at 7,255.63. The BSE IT index, the BSE Power index, the BSE Teck index, the BSE FMCG index, the BSE Metal index and the BSE PSU index ended the day in positive territory. On the other hand, the BSE CD index and the BSE Auto index ended the day in red.

Among the index heavyweights, ICICI Bank gained 4.43% while Reliance Infrastructure notched up gains of 3.97%, Bharti Airtel moved up 3.15% at Rs839.60 and NTPC scaled up 3.07% at Rs166.05. Cipla, HDFC Bank, DLF, Infosys, Hindustan Unilever and ITC were up 2% each. Wipro, HDFC, Satyam Computer Services and Larsen & Toubro gained 1% each. Tata Steel, Reliance Industries, Jaiprakash Associates, ONGC, Tata Consultancy Services and ACC also ended the day in positive territory. However, Hindalco Industries was the major loser and shed 2.31% at Rs170.65. BHEL was down 2.15% at Rs1,511.15 and Reliance Communications shed 1.52% at Rs531. SBI, Maruti Suzuki India and Mahindra & Mahindra ended in negative territory.

Over 2.58 crore Chambal Fertlisers shares changed hands on the BSE followed by Nagaarjuna Fertlisers (1.88 crore shares), Anu’s Laboratories (1.10 crore shares), IFCI (94.35 lakh shares) and Reliance Natural Resources (88.87 lakh shares).

Sensex adds 206 points in Asian rally

The market ended on a firm note on the back of firm global markets. However, a rebound in global crude oil prices pared strong intra-day gains on the domestic bourses. Banking and information technology stocks rallied. However, automobile stocks declined after the Union government raised excise duty on large cars, multi-utility vehicles and sports utility vehicles with an engine cubic capacity exceeding 1500.

Crude rebounded to $134.90 a barrel after falling in response to plans by Saudi Arabia to push output to its highest rate in decade. A solid surge in global crude oil prices has hit equities across the globe in the past few days as it has raised fears of global inflation.

Asian stocks, which opened before Indian market, rallied on Monday, 16 June 2008, as the US dollar rebounded and oil fell below $134 a barrel, boosting confidence in the region's exporters. Key indices in Japan, China, South Korea, Singapore, Taiwan, and Hong Kong were up by 0.18% to 2.72%. Oil later rebouded from lower level.

The 30-share BSE Sensex rose 206.20 points or 1.36% at 15,395.82. At the day’s high of 15,553.37, Sensex gained 363.75 points in early trade. Sensex gained 143.45 points at day's low of 15,333.07, hit in late trade.

The broader based S&P CNX Nifty gained 55.4 points or 1.23% at 4572.50. Nifty June 2008 futures were at 4570, at a discount of 2.5 points as compared to spot closing.

The BSE clocked a turnover of Rs 4512 crore as compared to Rs 5847.40 crore on Friday 13 June 2008. NSE's futures & options (F&O) segment turnover was Rs 40166.83 crore, which was lower than Rs 41003.4 crore on Friday, 13 June 2008.

The market breadth was strong on BSE with 1776 shares advancing as compared to 872 that declined. 76 remained unchanged.

The BSE Mid-Cap index rose 1.15% to 6,299.72 and BSE Small-Cap index up 1.15% to 7,669.11. Both these indices underperformed the Sensex.

The BSE Bankex outperformed the Sensex, rising 2.83% to 7,255.63. Axis Bank (up 4.51% at Rs 736.15), Bank of Baroda (up 4.01% at Rs 241.05), Kotak Mahindra Bank (up 2.97% at Rs 631.90), and HDFC Bank (up 2.50% at Rs 1,151.45), spurted.

India's largest private sector lender by assets ICICI Bank rose 4.43% to Rs 798.70.

State Bank of India fell 0.61% to Rs 1326.40 after the country's largest lender, on Saturday, 14 June 2008, decided not to raise its prime-lending rate. The decision was taken at a meeting of the assets-liability committee (Alco) of State Bank of India (SBI) on Saturday, 14 June 2008. The Alco met to deal with the issue of interest rates in the wake of the Reserve Bank of India's (RBI) move to raise repo rates, or the rate at which it lends to banks, by 25 basis points to 8%, on 11 June 2008, to contain inflation.

The BSE IT index outperformed the Sensex, gaining 1.78% to 4,413.35. Infosys Technologies (up 2.34% at Rs 1,907.25), HCL Technnologies (up 1.92% at Rs 293.90), Wipro (up 1.76% at Rs 486.25), and Satyam Computer (up 1.58% at Rs 488.45) and TCS (up 0.32% at Rs 910.55), flared up.

The BSE Auto index underperformed the Sensex, sliding 0.14% at 4123.88. Hero Honda Motors (down 1.83% at Rs 762.80), Maruti Suzuki (down 0.52% at Rs 718.10), and Mahindra & Mahindra (down 0.23% at Rs 569.10), slipped.

TVS Motor Company (up 1.16% at Rs 34.90), Tata Motors (up 0.11% at Rs 516.75), rose.

India’s largest aluminium manufacturer by sales Hindalco Industries fell 2.31% at Rs 171.35 after the company said on Friday, 13 June 2008, it may consider a comprehensive plan including an equity rights issuance to finance the loan taken to acquire leading aluminium-rolling company Novelis

India’s second largest telecom services provider by sales Reliance Communication fell 1.52% at Rs 535.10 after Reliance Industries, India’s largest private sector firm by market capitalisation and oil refiner, claimed first right of refusal to buy a controlling stake in it. Reliance Communications, controlled by Anil Ambani, is in exclusive talks with South Africa's MTN about a tie-up that could create a top-10 global telecoms firm. As part of a tie-up, Anil Ambani would likely swap his controlling stake in Reliance Communications to become the largest shareholder in MTN. Shares of Reliance Industries rose 0.73% at Rs 2284.85.

Steel makers JSW Steel (up 5.10% to Rs 994.85), Tata Steel (up 0.83% to Rs 848.35), Steel Authority of India (up 1.50% to Rs 162.25), and Bhushan Steel (up 1.30% to Rs 854.05), advanced after the Union government withdrew export duty on flat rolled products of iron and steel, including galvanised products, pipes and tubes.

Engineering equipments maker Atlas Copco India was locked at 20% upper limit at Rs 1077.90 after the company said its board will meet on 25 June 2008 to consider buy back of equity shares.

Internet broadband services provider Gemini Communication surged 5% to Rs 203.50 after the company said it has acquired a 51% stake in Chennai based Veeras Infotek for Rs 7 crore.

Drug maker Lupin gained 2.99% to Rs 725.05 after its unit Lupin Pharmaceuticals Inc received a tentative approval from US Food & Drug Administration for its escitalopram oxalate tablets in 10 & 20 milligram strengths.

New age lender Yes Bank rose 2.50% at Rs 143.25 after the bank said it has raised its prime lending rate by 50 basis points to 16% with immediate effect.

Drug maker Cadila Healthcare rose 0.67% at Rs 313.75 after the firm said on Friday, 13 June 2008, its board will meet on June 17 to consider restructuring of the group's consumer products business.

State-run natural natural gas distributer GAIL India spurted 4.50% at Rs 398.05 after the company said its board will meet on 23 June 2008 to consider issue of bonus shares.

Shipping and logistics services provider Shreyas Shipping & Logistics rose 3.03% to Rs 64.70 after the company said it has sold its vessel M V OEL Express for a consideration of $11.5 million.

Anu's Laboratories clocked a highest turnover of Rs 400 crore on BSE. Chambal Fertilizers and Chemicals (Rs 242.77 crore), Reliance Industries (Rs 195.40 crore), Reliance Capital (Rs 149.38 crore) and Reliance Petroleum (Rs 117.91 crore), were the other turnover toppers on BSE in that order.

Chambal Fertilizers and Chemicals reported a highest volume of 2.58 crore shares on BSE. Nagarjune Fertilizers & Chemicals (1.88 crore shares), Anu's Laboratories (1.10 crore shares), IFCI (94.35 lakh shares) and Reliance natural Resources (88.87 lakh shares), were the other volume toppers on BSE in that order.

European markets, which were mostly trading lower earlier in the day, recovered as the day proceeded. Key indices in UK, France and Germany were up by 0.03% to 0.16%.

US markets rallied on Friday, 13 June 2008, led by financial and technology stocks, as a tame core-inflation reading and lower crude prices boosted market. The Dow Jones industrial average jumped 166 points at 12,307. The Nasdaq Composite index surged 50 points up at 2,454.50. The S&P 500 index advanced 20.16 points to 1360.03.

Trading Call - I-Flex Solutions

Buy i-flex Solutions SL -Rs 1230 Target - Rs 1525

Weekly Report - June 16 2008

Weekly Report - June 16 2008

Market mildy positive

The markets closed at the lower end of the intraday range as bulls continued to remain on the fence where big-ticket buys were concerned. The market internals were positive, which is a mildly positive sign.

The 4,640-4,440 range advocated for Friday held as the Nifty spot traded within these parameters. The coming session is likely to witness a range of 4,560 on advances and 4,470 on declines.

The upmove will be deemed sustainable in the coming week only if the Nifty manages to trade consistently above the 4,560 level. The 4,535 level will be a bullish threshold, above which the bulls will continue to dominate the sentiments on Monday intraday.

The market internals indicate a lower turnover as the participation levels fell marginally due to the weekend factor. The number of trades decreased and the average ticket size was lower, indicating a weak selling bias. The capitalisation of the market was lower in line with a downtick session.

The outlook for the markets on Monday is that of cautious optimism as overseas cues will determine the immediate outlook. Avoid aggressive trades in either direction for now.

via Business Standard

Latest IPO Grey Market Premiums

Niraj Cement 190 Discount

Bafna Pharmaceutical 40 7 to 10

Avon Weighing 10 5 to 6

Sejal Architectural Glass Ltd. 105 to 115 20 to 22

First Winners Ind. Ltd. 115 to 125 5 to 6

Archid Ply Ind. 70 to 80 6 to 8

Lotus Eye Care Hospital 38 to 42 4 to 5

Firm global cues may boost early sentiment

The market is likely to open higher tracking positive global cues. Sustained fall in crude oil prices from record high's, and declaration of robust advance tax numbers by India Inc later during the day may boost the sentiment.

However caution will previal in the coming day’s on fears that the Reserve Bank of India (RBI), as part of its efforts to contain rising inflation, would resort to more measures to make banks’ lending rates dearer.

Inflation, measured by wholesale price index (WPI), jumped to a 7-year high of 8.75% in the week to 31 May 2008, after rising 8.24% in the previous week. The negative impact of higher lending rates would rub off on the entire economy. Such concerns over slowdown in economic growth are expected to keep the market choppy in the near term.

Also high interest rates may delay expansion plans of corporates, which in turn may impact future earnings growth.

Most Asian markets were trading higher today, 16 June 2008, on speculation demand for the region's exports will be sustained as the yen weakened against the dollar and crude oil prices retreated.

Japan's Nikkei (up 1.47% at 14,179.62), Hang Seng (up 1.66% at 22,966.30), Taiwan's Taiwan Weighted (up 1.36% at 8,215.54), Singapore's Straits Times (up 1.59% at 3,027.07), South Korea's Seoul Composite (up 0.92% at 1,763.38), edged higher.

However, China’s Shanghai Composite fell 0.88% or 25.18 points at 2,843.62

US markets rallied on Friday, 13 June 2008, led by financial and technology stocks, as a tame core-inflation reading and lower crude prices boosted market. The Dow Jones industrial average jumped 166 points at 12,307. The Nasdaq Composite index surged 50 points up at 2,454.50. The S&P 500 500 index advanced 20.16 points to 1360.03.

Earnings downgrades by brokerages amid rising input and interest costs for India Inc and drying up of global liquidity due to credit crisis remain major concern for the Indian stock market. A further hike in rates would impact bottomline of Indian companies.

On the positive side, the Indian Meteorological Department (IMD)’s second monsoon forecast for the crucial annual south-west monsoon (June-September) due this month which may indicate spatial rainfall distribution in the main sowing month of July 2008, will be keenly watched by market men. The IMD has forecast the 2008 monsoon rains would be near-normal and 99% of the average between 1941 and 1990.

Market men will closely watch corporate advance tax payments for the first installment, which will a give a cue on expected Q1 June 2008 numbers from top Indian corporates. The income tax law requires a company to 15% the estimated tax liability for the year as advance tax in the first installment. The advance tax payment by the corporate sector will give a cue on Q1 June 2008 results.

Back home, the market slipped on Friday, 13 June 2008, as data showed a surge in inflation to a seven-year high and weak European markets. The 30-share BSE Sensex lost 60.58 points or 0.4% at 15,189.62 and the broader based S&P CNX Nifty was down 22.25 points or 0.49% at 4,517.10, on that day.

The BSE Sensex shed 382.56 points or 2.45% to 15,189.62 and the S&P CNX Nifty fell 110.70 points or 2.39% to 4,517.10 in the week ended 13 June 2008.

The Sensex is now down 6,017.15 points or 28.37% from its all-time high of 21,206.77 hit on 10 January 2008.

As per provisional data, foreign funds sold shares worth a net Rs 116.51 crore on Friday, 13 June 2008. Domestic funds bought shares worth a net Rs 457.33 crore on that day.

Foreign institutional investors (FIIs) were net buyers of Rs 625.28 crore in the futures & options segment on Friday, 13 June 2008. They were net buyers of index futures to the tune of Rs 167.32 crore and bought index options worth Rs 173.58 crore. They were net buyers of stock futures to the tune of Rs 224.58 crore and bought stock options worth Rs 59.80 crore.

Crude oil for July delivery fell as much as 86 cents to $134 a barrel in after-hours electronic trading on the New York Mercantile Exchange today, 16 June 2008 on speculation Saudi Arabia will increase production, reducing risks to global growth from near-record energy prices.

Market Outlook - June 16 2008

Market Outlook - June 16 2008

Pre Session Commentary - June 16 2008

The Indian Market is expected to open on firm note on the back of strong global cues as the US market closed in green and Asian markets are trading with positive attitude. On Friday, the Indian market closed with losses after giving up its opening gains. The domestic market opened with positive note but was not able to maintain the balance and slipped soon after the start. It was hovering in negative territory through out the trading session due to the investors’ cautious behavior and ended in red on the back of rise in inflation. Inflation soars to 8.75% for the week ended 31st May 2008 which is highest in the seven years, as against 8.24% in the previous week. From the sectoral front, Metal, Reality, Oil & Gas and Powers stocks witnessed most of the profit booking while stocks of Pharma, Consumer Durables and Banking held gains of market. The BSE Sensex closed lower by 60.58 points at 15,189.62 and NSE Nifty ended down by 22.25 points at 4,517.10. We expect that market may gain some ground during the trading.

On Friday, the US market closed in positive territory due to technology and financial stocks, and lower crude prices helped the market end the week on a high note. Oil price falls to $135 a barrel. The Dow Jones Industrial Average (DJIA) closed higher by 165.77 points at 12,307.35 along with NASDAQ up by 50.15 points to close at 2,454.50 and S&P 500 rose 20.16 points to close at 1,360.03.

Indian ADRS ended positive. In technology sector, Wipro went up by (2.11%) along with Satyam by (2.02%), Infosys by (1.92%) and Patni Computers by (1.27%). In banking sector, ICICI bank and HDFC bank increased by (3.88%) and (0.63%) respectively. In telecommunication sector, MTNL and Tata Communication advanced by (3.23%) and (0.86%). Sterlite industries inclined by (1.50%).

Today the major stock markets in Asia are trading in green on Wall Street rally. Hang Seng index is trading higher by 374.00 points at 22,966.30 along with Japan’s Nikkei trading up by 205.89 points at 14,179.62 and Taiwan Weighted trading at 8,215.54 advanced by 109.95 points.

The FIIs Friday stood as net seller in equity. The gross equity purchased was Rs3,169.50 Crore and the gross debt purchased was Rs0.00 Crore while the gross equity sold stood at Rs4,311.20 Crore and gross debt sold stood at Rs0.00 Crore. Therefore, the net investment of equity reported was (Rs1,141.70) Crore and net debt was Rs0.00 Crore.

Crude oil futures for the month of July delivery closed lower by $1.88 at $134.86 per barrel on New York Mercantile Exchange. Saudi Arabia, which is the world''s biggest oil exporter, is planning to raise its output by the next month by about a half million barrels a day. At present it is pumping 9.45 million barrels a day, with an improvement of about 0.3 million barrels from last month.

Today, Nifty has support at 4,449 and resistance at 4,613 and BSE Sensex has support at 14,979 and resistance at 15,514.

Trading Calls - June 16 2008

Nifty (4517) Sup 4475 Res 4580

Buy Jindal Saw (536) SL 531 Target 546, 550

Buy RPL (179) SL 175 Target 189, 192

Buy Glenmark (710) SL 705
Target 720, 725

Sell Tata Motors (516) SL 521 Target 506, 501

Sell M&M (570) SL 575
Target 560, 565

Morning Call - June 16 2008

Market Grape Wine :

In House :

Nifty at a support of 4485 and 4430 with resistance at 4565 and 4620 levels .

Buy : SunPharma above 1491 target 1550 s/l of 1470 levels .

Buy : Chambal target 100 with s/l of 87

Buy : in F&O IciciBank above 760 target 778 s/l of 750

Buy : in F&O ONGC above 829 target 855 s/l of 818

Out House :

Markets at a support of 15115 & 15191 resistance at 15453 & 15565 levels .

Buy : Tisco

Buy : LUPIN

Buy : Infy & Satyam

Buy : Praj

Buy : HDIL & Unitech

Buy : RPL

Buy : EssarOil & Orchid

Buy : SKumar & Aban

Dark Horse : LT , Skumar , RPL , Tisco , Aban , Unitech , RIL & INFY

Blue Star

The central Air Conditioner major arranged an analyst meet to deliberate on the recently concluded financial performance of the company and put some light on the growth aspects of the different business segments of the company.

Highlights

The carry forward order book position of the different segments of the company as on 31^st Mar07 is as follows:

Segment	Mar06	Mar07	Growth
Central Airconditioning	495	633	28%
Cooling Products	21	48	128%
Professional Electronics	49	74	51%
TOTAL	565	755	34%

Achievements in FY07

• Consolidation of leadership in central and packaged airconditioning segment.
• Over 150 Blue Star screw chillers installed and commissioned.
• Dominated the telecom shelter airconditioning business with over 50% market share.
• Volumes of split airconditioners grew 75%.
• Tie-up with ISA, Italy for supermarket refrigeration equipment.
• Several new customer accounts in the cold chain business.

Central AC Segment

This segment is the core segment of the company and continues to enjoy 30% market share in this business with predominant focus on the domestic market. This business encompasses design, manufacturing, installation, commissioning and maintenance of large central airconditioning plants. The Central AC segment also comprises of Wide range of chillers, air handling units and fan coil units, Comprehensive range of packaged airconditioning systems, etc. With energy efficiency as the technology platform, Blue Star is a pioneer in products, which save power.

The Company derives 40% of central air-conditioning revenues from National/Major Account customers which have significant growth potential. Blue Star expects to garner a major portion of the HVAC requirement from these customers.

During the quarter, the company clocked a 38% rise in its central AC turnover to Rs 387.03 crore.

Cooling Products

This includes the business of Room Air Conditioners and refrigerator products. During the quarter, revenues from this business grew by a strong 36% yoy to Rs 122.02 crore and during the year showed a rise of 37% to Rs 372.78 crore. The realizations in the room ACs have increased mainly due to fast increase in volume of the split Acs as well as refrigeration products. Going forward, the company sees better growth opportunities in this business segment due to the evolving cold chain concept in the country. Also, this segment has witnessed highest rate of growth in order book position for FY07 at 128%, signalling strong growth ahead.

Professional Electronics and Industrial Equipments

The company mainly provides value added reselling through this business by having good relation with renowned equipment manufacturers of the world. This business encompasses value added services in many industrial segments, which are distinct in their own respect. Although the growth in this service led business is good but the company faces tremendous shortage of quality engineers for this business. Nevertheless as a matter of strategy the company has forayed into several new high growth niche segments with additional product lines. Despite the constraint of the availability of quality manpower the company foresees a promising outlook for this business.

Exports

Blue Star has been exporting water coolers for over five decades. The Window and split ACs for high ambient temperature conditions have been well received in the Middle East and Iraq. The Company has been successfully exporting customised ducted systems and heat pumps for the Middle East and Europe. Also, Central air-conditioning products such as AHUs and FCUs are exported. The Company recently opened office in Doha for project and product requirements from the region. The Companys export revenues have registered a robust growth of 32% to Rs 89.99 crore for the year ended Mar07.

Major growth drivers

• Construction boom

The Construction boom driven by IT/ITES, Retail and Infrastructure projects and the major growth plans announced by several players in these segments will translate into significant airconditioning and even refrigeration opportunities. Also, the Special Economic Zones (SEZs) are expected to drive growth.

• IT/ITES

IT/ITES services are expected to grow in excess of 25% per annum over the next 3 years. An estimated 1.4 million people will be added till FY10 and office space of over 100 million sq ft will be needed. This translates into airconditioning requirement of over Rs 1500 crores. Blue Star enjoys a preferred partner status with Infosys, HP, Satyam, Wipro, HCL, Cognizant, Microsoft who are major players driving growth in IT/ITES segments.

• Retail, malls and multiplexes

Based on plans announced by major players, 150 million sq feet of space will be added in this segment, translating into an airconditioning requirement of over Rs 2250 crores. Blue Star enjoys strong relationships with Reliance, Pantaloon, Shoppers Stop, Bharati, DLF, RPG, PVR, Adlabs and Vishal Megamart which are the main players driving growth.

• Opportunities from telecom segment

Blue Stars telecom business for airconditioning cell sites grew 185% in FY07. The Company enjoys a dominant 50% market share in this segment. The subscriber base is expected to double over the next 3 years to 500 million necessitating 150,000 additional cell sites, translating into an airconditioning opportunity of Rs 1000 crores.

• Opportunities from industrial segment

The Eleventh Five year plan includes addition of 48,000 MW of thermal power. Blue Star has already executed major power plant projects for NTPC, NPCIL and Jindal. The Company expects significant power plant project orders in the medium term. The pharma segment is another fast-growing segment which presents immense opportunites for the industry. Blue Star has strong credentials and expertise in the pharma segment as well.

• Contracting opportunities

The construction boom will fuel growth in HVAC contracting business. Currently, 15% of mega projects involve integrated mechanical, electrical and plumbing contracting. Blue Star has developed capabilities in this area as well.

Outlook

The macro economic trends are favourable for Blue Star and is in a strong position to leverage the opportunities available. With all three lines of business performing well, the Company is poised to outperform the market growth.