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ET - Year Ender 2009

2009-12-25T19:31:00.004+05:30

http://economictimes.indiatimes.com/yearender.cms

Year End Special From Economictimes.indiatimes

The journey of Rakesh Jhunjhunwala

23 Oct 2009, 0800 hrs IST,ET Now

ET Now Exclusive: Who dosen't want to be a millionaire? Find out how Rakesh Jhunjhunwala made his millions. Familyman | Watch Video | Sensex could touch 19K soon

Sensex set for slower rise in 2010

Eight-year cycle: Sensex may hit 21K jackpot in '11

Key 2010 political risks to global markets

Sensex to test 21K in year's time: Cazenove Capital

For investors, that was easy. Now comes 2010

17 Dec 2009, 1552 hrs IST,REUTERS

Tight 2009 correlations are already breaking down, leaving investors to work a bit harder for their buck. Five facts about rising world equities | Five facts on stock falls

Stocks in '10: Prospects range from gloom to boom

Life cover of Rs 1 crore for just Rs 15K

2010 Investment Outlook: Go global

Ratan Tata: Time to shake off traumatic '09

19 Dec 2009, 1245 hrs IST,

Be it the aftermaths of the terror and fire at the iconic Hotel Taj Mahal or the news about burning Nanos and low floor buses, Rs 500 crore going awash in Singur or the teething troubles with JLR and Corus acquisitions – 2009 is a year that Ratan Tata will bid goodbye with a sigh, though berift of relief.

Milestones for Indian auto industry during 2009

In Conversation: Ratan Tata on cars beyond Nano

Here's what Tata told his staff in '08 end

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Indian Events in Pics

Major terror attacks in India in recent years

India: A decade round-up

Top 10 diplomatic events in India

Flashback 2009: Ten moments that defined India

India's Best Companies to Work For 2009

Global Events in Pics

Check out the top 10 list of the Decade

Hottest smartphones launched in 2009

Top 10 best-performing CEOs in the world

Pictures of the Decade Part 1

Nifty ends at new 2009 high; commodities, rate sensitives up

2009-12-24T18:33:00.000+05:30

Nifty ends at new 2009 high; commodities, rate sensitives up

uying in oil & gas and rate sensitive shares propelled the Nifty to close at new 2009 high of 5,178.40. It was just shy of the 5,200 mark and touched an intraday high of 5,197.90. The benchmark indices continued their upmove for the second consecutive day and closed higher for the day as well as for this week.

Asian markets helped the markets to start the day on a positive note, following Wednesday's 539 points rally on the Sensex. But after first half an hour of trade, indices turned volatile. In the last couple of hours, the markets gained strength again on the back of buying in shares of commodities and rate sensitives related companies.

The 30-share BSE Sensex closed at 17,360.61, up 129.50 points or 0.75% and the 50-share NSE Nifty went up 0.66% or 33.80 points, to settle at 5,178.40. The broader indices gained 3.8% this week.

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Positive global cues were quite supportive today. European markets and the US index futures were marginally positive, at the time of closing of Indian equities. Asian markets closed higher; Shanghai rallied 2.6% and outperformed the other global indices. Nikkei rose 1.5%. Hang Seng, Kospi and Taiwan were up 0.8-1.3%. Straits Times was flat.

Index	Closing Value	Chg (%)
AUTO	7,356.81	1.5
METAL	17,333.73	1.42
OIL&GAS	10,418.23	0.9
REALTY	3,854.04	0.8
POWER	3,133.42	0.78
MIDCAP	6,641.14	0.72
FMCG	2,824.39	0.66
CAP GOODs	14,017.08	0.62
SMALLCAP	8,120.71	0.6
BANKEX	9,968.03	0.5
IT	5,175.46	0.33
PHARMA	5,109.94	0.03

The Indian markets will be closed for trade during December 25-28, 2009, on the back of Christmas and Moharam.

Oil & gas were leading sector; ONGC rose 1.62%. Reliance Industries, Cairn India, GAIL and BPCL were up 0.34-0.87%.

Banking and financials also supported the indices; HDFC Bank was up 1.23%. Bank of Baroda, PNB, SBI, HDFC and Axis Bank gained 0.4-0.7%. ICICI Bank rose 0.15%.

Tata Motors was the top gainer today. The CNBC-TV18 learns that India's largest automobile company has decided to settle Singur compensation issue with the vendors. The company will compensate 75-80% of vendors’ Singur loss. “It has asked vendors to take bank loan of 80-85% Singur loss, which would be repaid by the company,” sources inform, adding Tata Motors will repay principal and interest on vendors’ loan. Almost 80% of the vendors have signed the compensation pact with the company and the remaining 20% will sign it in January 2010.

Other news based stocks were ITI and Jet Airways, which gained 11.2% and 2%, respectively. CCEA (Cabinet Committee on Economic Affairs) has approved extending ITI's 30% quota in BSNL, MTNL orders. Government said telecom department was preparing revival package for ITI and ITI would get 70% advance payment for BSNL, MTNL orders. Cabinet panel has also approved Jet Airways plan for USD 400 million QIP.

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Food inflation eases to 18.31% vs 19.95% week ago

Nifty ends at new 52-week closing high

World stocks push higher in pre-Xmas rally

Src: MC, ET

Sensex surges 500 pts; RIL, Infy, NTPC, ICICI Bk, ONGC lead

2009-12-23T15:47:00.001+05:30

Sensex surges 500 pts; RIL, Infy, NTPC, ICICI Bk, ONGC lead

At 14:25 hours IST, relentless buying across all the sectors was pushing the Sensex higher and higher. It gained 500 points while the Nifty surged 150 points. Among the sectors, the BSE Metal, Oil & Gas, Power, IT, Realty, Capital Goods and Bank indices were up 2.5-3.3%. TECk, Auto and FMCG indices went up 1.7-2.3%.

Finance Minister's strong statement on GDP growth and positive global cues were supportive to the benchmark indices. Finance Minister Pranab Mukerjee said India could clock as much as 9–10% gross domestic product (GDP) growth in two-three years and FY10 growth could reach 7.75%.

On the global front, European markets were trading 0.7% higher. Asian markets ended with good gains. Shanghai was up 0.76% and Hang Seng up 1.12%. Straits Times, Kospi and Taiwan Weighted gained 0.35-0.6%.

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The 50-share NSE Nifty was trading at 5,123, up 134 points and the Sensex gained 457 points at 17,149. These indices hit an intraday high of 5,135.05 and 17,191.85, respectively.

Top gainers - Hindalco shot up 9% and NTPC surged 6%. Sterlite Industries, Reliance Industries and ICICI Bank 3.5-4.5%. Infosys, L&T, M&M, Tata Steel, HDFC Bank, DLF, HDFC, Tata Motors, Jaiprakash Associates and ITC were up 2.5-3.5%.

Top gainers on the BSE Midcap - Emami, Gujarat NRE Coke, Great Offshore, Sunteck Realty and Sobha Developer went up 5-7.8%.

Top losers on the BSE Midcap - Kalpataru Power, Opto Circuits, Bayer Cropscience, Mahindra Holiday and Corporation Bank fell 1-1.6%.

Top gainers on the BSE Smallcap - AP Paper Mills was locked at 20% upper circuit; JSW Holdings, Adhunik Metalik, Action Construction and Jolly Boards gained 10-15%.

Top losers on the BSE Smallcap - Zandu Pharma lost 14.16%. GMR Industries, Aegis Logistics, NESCO and PVP Ventures declined 3.5-5%.

At 13:12 hours IST, the Sensex was strong in trade with gains of more than 400 points and was consistently holding the 17,000 mark. The 50-share NSE Nifty was also holding the 5,100 level. Both the indices were trading above these levels for the first time in the last six sessions. Further upmove in Asian markets and positive comments from Finance Minister about GDP (gross domestic product) growth helped the markets.

India can clock as much as 9–10% gross domestic product (GDP) growth in two-three years, Finance Minister Pranab Mukerjee has said. Speaking at an event, an optimistic Mukherjee said FY10 growth could reach 7.75%. India, which grossed a GDP growth of 7.9% in the third quarter of this fiscal, is one of the fastest growing economies in the world and a negative farm growth thanks to a dry spell this year is also not expected to adversely impact its growth. The GDP growth for the next two quarters was “likely to be bright”, Mukherjee said.

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Asian markets were positive; Shanghai and Hang Seng were up 0.8-0.9%. Straits Times, Kospi and Taiwan Weighted gained 0.35-0.6%.

Frontliners like Hindalco, NTPC, Sterlite Industries, Reliance Industries, ICICI Bank and SAIL were top gainers, up 3-6%%. Not a single share was in the red on the Sensex and Nifty.

The 30-share BSE Sensex was trading at 17,108, up 415 points and the Nifty was at 5,110, up 124 points. The broader indices gained 1.2-1.5%, as about 986 shares advanced while 256 shares declined on the BSE.

Zee Entertainment's board approved merger of ETC Networks with company. The company will consider detailed merger scheme on December 29. The stock was up 0.4% and ETC Networks gained 3.5%.

Heavyweight Reliance Industries surged 3.28%. Among other oil & gas stocks, GAIL, Cairn India and ONGC were up 2-3%. IOC, HPCL and BPCL gained 0.8-1.3%.

Infosys rose 3% in the oil & gas space. TCS, Wipro, HCL Tech and Tech Mahindra went up 1-2%.

Banking stocks like ICICI Bank and HDFC Bank moved up 2.5-3%. PNB, SBI, Kotak Mahindra, Axis Bank and Bank of Baroda were up 0.8-1.8%.

In the power pack, NTPC rallied 5.14%. NHPC, Power Grid Corp, Lanco Infratech, Neyveli Lignite, Suzlon Energy, Torrent Power, Siemens, GVK Power, BHEL, Reliance Infrastructure, Reliance Power, Tata Power, GMR Infra and Adani Power gained 1-3.3%.

Hindalco surged 6.37% in the metal space. Sterlite Industries, SAIL, NALCO, Tata Steel, Jindal Saw, Jindal Steel and JSW Steel were up 1.3-3.7%.

Top percentage gainers - Jumbo Bag and AP Paper Mills were locked at 20% upper circuit. Umang Dairies, JSW Holdings, Muthoot Cap, Adhunik Metalik and KSE were up 10-17%.

MOre @

Sensex surges 500 pts; RIL, Infy, NTPC, ICICI Bk, ONGC lead

Nifty near day's highs; Hindalco, RIL surge

Essar Oil to become India's third largest oil refining co

Src: Leading websites

RIL discovers third gas reserve in KG basin

2009-12-22T15:48:00.001+05:30

RIL discovers third gas reserve in KG basin

NEW DELHI: Reliance Industries on Tuesday said it has made a third successive gas discovery in the D3 deep-sea block in the Krishna-Godavari

Reliance Industries' KG-D6 facility
World's top oil exporting countries
World's top 10 oil producers
World's largest refining companies

basin, off the east coast. ( Watch )

Reliance found three gas reservoirs in the KGV-D3-R1 well drilled on the block KG-DWN-2003/1 (or D3), a company statement said here.

The block, located about 45 kilometres off the coast in the Bay of Bengal, is in the vicinity of its prolific D6 block where three of the 19 oil and gas finds have already been put on production.

"This discovery (in D3) supplements RIL's understanding, of the petroleum systems within the block," it said.

Reliance holds 90 per cent interest in the block that it won in the fifth round of auction under the New Exploration Licensing Policy. Hardy Exploration and Production India Inc, a unit of Hardy Oil of UK, has the remaining 10 per cent.

"Three reservoir zones were encountered at Miocene level having gross thickness of 4, 23 and 16 meters," the statement said adding the discovery has been named Dhirubhai-44.

The first two exploratory wells (KGV-D3-A1 and KGV-D3-B1) resulted in gas discoveries (Dhirubhai 39 and 41) and are presently under appraisal.

"Besides the above discoveries, several prospects have been mapped at different stratigraphic levels," the statement added.

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Nifty lacklustre; SAIL, Tata Steel, IDFC up

Nifty can reach 5650 if it breaches 5150: Daryl Guppy

2009: Good for investors, tough on Mutual Funds

Src: Moneycontrol, ET

Heard on the street

2009-12-22T08:41:00.002+05:30

Heard on the street

Market on a lean holiday diet in

2011

STOCK exchanges have been spared some more unpopularity, thanks to several public holidays falling on weekends. There is a move afoot to cut down the number of trading holidays, as the wise men feel that the Indian market has one too many, compared to international markets. The reason to cut down on the number of holidays is based on the premise that investors here will not have a chance to react to major global events if the Indian market is closed.

This is, of course, assuming that no major global developments will unfold on January 26, August 15, or on the day of Bhau Bheej, or any of the other holidays that do not happen to be global ones.

“This year a large proportion of the holidays is falling on a Saturday/Sunday. We have only 11-12 holidays falling during the week. This year is taken care of. 2011 is when a shorter list — 8 to 10 days — will come into effect by which time the equity market will also have moved to a 9-5 pm cycle,” said a senior broker, who was present at the meeting NSE had with six top retail broking firms.

Garware Offshore sets sails for the north

SHARES of Garware Offshore have risen around 12% in the past one month. Buzz is that increasing demand for offshore support vessels is driving interest in the stock. Speculation is that some financial and strategic investors are planning to pick up a stake in the company through secondary market transactions, though talks are said to be at a preliminary stage. In anticipation of this, “friendly circles” are said to be accumulating the stock.

Rel Equity, Daiwa lose top honchos to Macquarie

MACQUARIE Securities is looking to beef up its equities team in India. Amongst its new hires are Sudhanshu Bhuwalka who joins as associate director, equity sales, from Reliance Equities, where he was co-head of equity sales. Neil Nathwani has joined Macquarie’s equity sales team from Daiwa in London where he was the India specialist for Europe. Suresh Ganapathy is joining to head Macquarie’s financials research team for India. He joins from Deutsche Bank’s cash equities business in India.

Orient Green Power to raise Rs 600-cr via IPO

GREEN is the new black. With green or clean energy gaining momentum across the globe, market observers expect companies operating in the renewable energy space to take the IPO route. Orient Green Power, a subsidiary of Shriram EPC is one such candidate. It has appointed Goldman Sachs, UBS and JM Financial as bankers for its Rs 500-600 crore IPO.

Contributed by Deeptha Rajkumar, Reena Zachariah & Apurv Gupta

Src: ET
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Balmer Lawrie & Company: Bargain hunt begins! Rathin Shah

India equity strategy: 2010 NextGen India Investments

14th Annual Wealth Creation Study 2004-2009 Motilal Oswal

Two attractive mid cap picks Sanjay Chhabria

Picks for an aggressive stock portfolio

Picks for a conservative stock portfolio

Src: Valuenotes

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Stocks trader's favoured the most in 2009: An analysis

2009-12-22T08:25:00.002+05:30

Stocks trader's favoured the most in 2009: An analysis

Some stocks have had a great run in 2009. They have attracted traders and investors for the year round. CNBC-TV18’s Varinder Bansal reports,

These stocks are only punters delight – the way they have moved for the entire year with gains of anywhere between 2,000%. The marketcap of these stocks are well above most of the stocks we talk on the channel.

Kwality Dairy: Biggest winner of 2009?

Kwality Diary, a company with a market cap of Rs 2,000 crore, has gained nearly 2,000% in 2009. Looking at the one-year chart, the stock was at a price of Rs 5.5. It went to as high as Rs 1,360 and then there was a stock spilt from 10 to 1 and now the stock is trading around Rs 100.

On the financials front, FY09 the profit after tax (PAT) of this company was around Rs 10 crore and FY08 the PAT was nearly Rs 4.5 crore. So the company with market cap of Rs 2,000 crore is having a PAT of nearly Rs 10 crore.

The promoter holding in this company is interesting with four promoters and 32 individuals together hold nearly 93.5% stake in the security. The free float in the company is very less and that is why most of the stocks tend to react because of cornered shares in the public. Also, the existing promoters of this company bought this company in 2003 at the price of only Rs 3 crore and now see the way the stock has moved up. The company is only engaged in the diary business.

Gee Kay Finance and Leasing Co: Another trader’s delight?

This company has a market cap of nearly Rs 4,000 crore, which is even higher than IndusInd bank or Dena Bank or most of the PSU banks. The stock has gained nearly 1,800% and again in this case we have seen there was a stock split in the month of December and the stock started with a price of nearly Rs 4 and went to as high as Rs 560 and now after the stock split is trading at around Rs 80.

The volumes have been good in this stock. In the last 4 years for this company there is no profit for this company. The PAT of 2009 there was a loss of Rs 29 lakh and 2008 it was a loss of nearly Rs 4 lakh.

Promoter holding will be very interesting because the promoter holding in this company is only 0.5% and there are 26 individuals who hold nearly 90.86% equity in this company. So again you have distorted equity, which is spread only in 26-27 people and the rest 7-8% is with the public.

These are the few cases where you have seen huge gains but this is all punters delight, no fundamentals which are attached to both the shares.

Other outperformers of 2009:

Company	Dec 31, '08	2009 Chg
Auro Pharma	Rs 168	429%
Mcleod Russel	Rs 49	427%
JSW Holdings	Rs 301	427%
Hexaware Tech	Rs 21	348%
Orbit Corp	Rs 62	339%
Uttam Galva	Rs 27	334%
Polaris Software	Rs 43	326%
HOEC	Rs 66	312%
Havells India	Rs 122	309%
Jindal Saw	Rs 44	307%
Deccan Chron	Rs 44	247%

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Thirteen year-end lists you have to read

This is a list of lists. Dedicated to all obsessive list makers and readers
1. Time Magazine — Person of the Year:
The tradition of selecting a Man of the Year began in 1927, with Time’s editors contemplating newsworthy stories possible during a slow week. It was also an attempt to remedy the editorial embarrassment earlier that year for not having aviator Charles Lindbergh on its cover following his historic trans-Atlantic flight. While the designation is usually regarded as an honour, previous awardees include Hitler and Stalin. This year, the list of candidates is fairly controversial, and includes Iranian protestors and Somali pirates.

Click for more

2. Vanity Fair — Year in Pictures:
Vanity Fair images are often as important as the story — sometimes the images are the story. This list is a summation of the most iconic images to appear in the magazine in 2009. Past pictorials include the controversial, such as David LaChapelle’s with actor Mike Meyers dressed as a Hindu deity, and the heart-wrenching, like James Nachtwey’s images of Vietnamese children disfigured by Agent Orange.

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3. BBC — Sound of 2010:
The list is designed to find the best up-and-coming musical acts for the coming year. More than 130 of UK’s leading music critics and broadcasters name their favourite new acts and finally a long-list of 15 is prepared .

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4. GUARDIAN — Books of the year:
The Guardian’s guide to the Best Books of 2009 isn’t your usual, monotonous roundup of the best pickings. The British daily has asked leading figures in the arts to pick their books of the year, from novelist Nick Hornby, to fashion favourite Vivienne Westwood and even film director Sam Mendes. Definitely check out this list and enjoy choosing from a host of opinions. The only blot on file would be politician David Cameron’s choice of political diaries…can you say predictable?

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5. New York Times — Annual Year in Ideas:
This series from The New York Times Magazine is a digest of ideas that helped make each year, for better or worse, what it was. The ideas are not necessarily good ideas or even the most popular. They’re only alphabetically ordered. But they are ingenious, inspired, perplexing and some even outright illegal — a fresh selection of intellectual sushi. Enjoy.

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6. Amazon — Best of 2009 Books:
Amazon, the pioneering online bookseller, has two main lists out: The top 100 picks by their editors, and what sold most. The editors’ top pick is called Let the Great World Spin. Readers chose Dan Brown’s The Lost Symbol. There are also sub-lists by genre, so you can just go check out what interests you.

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7. Roger Ebert’s Movie Yearbook 2009:
Roger Ebert is an American film critic and screenwriter. He is known for his film review column (appearing in the Chicago Sun-Times since 1967, and later online) and his reviews are syndicated to more than 200 newspapers in the US and worldwide. In 1975, Ebert became the first film critic to win a Pulitzer Prize for Criticism. We recommend a copy of his annual movie yearbook which is predominately a collection of his reviews of that year. The heavy use of mocking sarcasm, dry wit and shocking candour makes it one of the most irresistible ways to lay 2009 to rest!

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8. Esquire — 30 Women We’ve Loved in 2009:
This one’s for the boys. Esquire, the original men’s magazine, was founded in the United States in 1932 as a reaction to the tyranny of women’s magazines during that time. And from its very first issue, there has always been an appreciation of women. The list is a recap beyond the Sexiest Woman Alive, and is accompanied by great photos of the great women of today. This year’s fab 30 include Candice Swaponoel, the new face of Victoria’s Secret, Italian beauties, an SNL favourite and a carpenter with an inventive use for walnuts!

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9. The Economist — The World In 2010:
The World in 2010 is the 24th edition of The Economist’s annual collection of predictions for the year ahead — with views from journalists, politicians and business people. The edition will be sold in 90 countries and translated into around 20 languages. So what are some of the forecasts for 2010? The World in 2010 predicts regime change for the UK, with a clear Conservative majority. Gordon Brown, are you listening?

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10. Time Magazine — Top Ten Everything of 2010:
The Mother of all year-end lists! Time magazine’s amalgamation of all the Top Ten’s of 2009, from the year’s best (or rather, worst) political gaffes, fashion faux paus, iPhone Apps, and even medical breakthroughs. Chart the highs and lows of 2009 from these 50 wide ranging lists.

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11. Foreign Policy’s Top 100 Global Thinkers:
From this year’s Nobel Peace Prize winner, to the brains behind Iran’s Green Revolution, Climate Change’s messiah Dr. Rajendra Pachauri and Nouriel Roubini, the economic Cassandra who actually did have a crystal ball — they had the big ideas that shaped our world in 2009. Read the list to see the 100 minds that mattered most in the year that was.

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12. Lonely Planet’s Best in Travel 2010:
Considering where to go in the coming year? Lonely Planet’s guidebook presents the top 10 countries, regions, and cities to visit in 2010, chosen by Lonely Planet’s global team. Expect old favourites, like New Zealand, chosen because of its spectacular landscapes, proud Maori culture and fine food and drink. Also mentioned are the obscure, like Fernando de which had only 9,000 foreign visitors last year.

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13. Time Magazine — 50 Best Web sites of 2009:
Clear out your bookmarks. You’re going to need the space for Time magazine’s roundup of 2009’s 50 offerings that are indispensable to navigating, shopping or just killing time on the Web. It’s a tough choice between Flickr, Twitter and YouTube.

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(Compiled by: Shloka Nath, Charles Assisi, Saumya Roy, S. Srinivasan)

By: Shloka Nath/Forbes India

More from Forbes India

Src: moneycontrol.com

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Stock Reports:

HCL Technologies, Kewal Kiran Clothing

Maruti Suzuki

Nava Bharat Ventures

SKF India, CMC India, Kalpataru Power

Weekly Technicals - Dec 21 2009

Weekly - Dec 21 2009

Src: DP Blog

20% correction in global mkts likely: Mark Mobius

2009-12-19T10:19:00.003+05:30

20% correction in global mkts likely: Mark Mobius

Executive Chairman of Templeton Asset Management, Mark Mobius expects a 20% correction in global markets. “That’s the kind of correction that we would expect in the bullish environment we've had for almost one year now. So, 20% should not be surprising. I was thinking this to be a buy situation resulting in a global 20% correction but it hasn't happened yet. However, I think we may see that. Of course on an individual market level it can happen. China has already corrected by that much. So that could certainly happen.”

China and India story

Bullish on China and India, Mobius said, “From a longer term perspective we are still quite bullish on both China and India. The growth rates are very high, inflation is low, money supply as you know globally still very high.”

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‘In the middle of valuation range’

He feels the markets are in the middle of a valuation range. “At a low point in the last ten years it was one time's book. At the high point, it was three times of the book value and now it's about two times. So we are more or less in the middle of the valuation range. But as I said with the high money supply that we see, low interest rates cause derivatives alive and well. This trend is definitely with us and we think it will continue into 2010.”

On Commodities

Expecting commodity prices to move higher, Mobius said, he sees a lot of opportunity in the consumer space. “There are two sectors that we are emphasising. First is commodities, we believe that commodities will continue to trend upwards because the demand supply situation is such that we see high prices. The second area would be consumers—the per capita incomes are going up at a very rapid rate, thus I see a lot of opportunity in the consumer area.”

US on a growth path

The US economy is likely to see a recovery in 2010, according to Mobius. He sees the emerging markets too to do well in 2010, much in line with the US. “Though Ems have suffered on their exports, they would see a recovery in 2010. With this US recovery the entire global situation will look a lot brighter. I think the US is going to do quite well.”

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Heard on the street

Early JLR turnaround hope lifts Tata

Motors

Tata Motors was among the big gainers in Friday’s bearish session, with the stock gaining over 3% supported by strong volumes. On BSE, the stock closed at Rs 732.75, with 12 lakh shares changing hands compared with a two-week daily average of about seven lakh shares.

Players tracking the counter say the rise could have to do with some purchases by fund managers, convinced about a buy recommendation on the stock by JP Morgan on Friday. The brokerage has raised its rating on the stock to ‘overweight’ from ‘neutral’, and assigned a price target of Rs 825, after a meeting the company’s senior management.

Morgan is betting on a quicker-than-estimated turnaround at Jaguar Land Rover, because of improvement in the global economy, and also a sustained growth in the company’s domestic commercial vehicle business. Fund managers may be willing to take a medium-term bet, but derivatives traders seem confident that the stock is due for a correction.

Tata Motors December futures closed at a Rs 4 discount to cash on Friday. Open interest shrunk by 3.2%, indicating many traders with long positions would have used Friday’s rally to pare their positions.

Market seen in range as bulls, bears play safe

With the Nifty closing below the 5000-mark on Friday, the gloomy mood in the bull camp persists. Key indices have been range-bound for the past few weeks, and the “consolidation” is turning out to be longer than what bulls had thought. Even the staunchest of bulls are now bracing for a downturn over the next one month, with some saying that the Sensex could shed around 2000 points.

Those who have missed out on the rally this year are eagerly awaiting the correction with cheque books in hand, hopping to net some good bargains. But will the market correct as sharply as expected? Those gloomy/cautious /cautiously optimistic are not backing their words with actions. In other words, they are not selling the shares in their portfolios.

The mood in the bear camp is not upbeat either. Having lost money repeatedly over the past few months, trying to call a correction, bears are

lying low. Question is, if bears are reluctant to go short, and bulls don’t want to sell shares, what will bring about the corrections. Looks as though stock prices are likely to be range-bound for some more time, to the frustration of both bulls and bears.

Arshiya jumps nearly 50% in a month

Arshiya International appears to have caught the fancy of traders of late. The stock rose around 1% in a weak market on Friday, closing at Rs 188.25. Over the past one month, the stock has risen 43%. It is hard to see what bulls are excited about in the stock.

For FY09, the company reported consolidated revenues of Rs 500 crore, and an earnings per share of Rs 11.30. For the first half of the current financial year, the company has clocked revenues of Rs 228 crore and an EPS of Rs 4.31. Unless the company’s topline and bottomline grow significantly during the remainder of the year, the price-earning multiple of 17 looks stretched.

The extremely low-profile top executive of a domestic broking firm, with a sizeable stake in the firm, is said to be the self-styled advisor to the company, and is also pitching the company to institutional investors. Earlier this week, Arshiya’s subsidiary sold its Cyberlog product suite to Aurionpro Solutions for $10 million. Incidentally, the low-profile executive holds a decent stake in Aurionpro, too.

(Contributed by Santosh Nair)

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RIL continues to be top pick of MFs in Nov

See 12000 on Sensex before 21000: Shankar Sharma

See 2010 as a stock picker's market: PN Vijay

Gas case: Hearing ends; solicitor general makes final pitch

Report: Mark-to-mkt performance of IPOs of 2009

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From Economictimes

Flurry of IPOs set to hit markets in 2010

2010 may be a positive year for Indian investors: Credit Suisse

Trading pattern of recent IPOs | Potential stocks

Obama reaches climate deal with India, China, SA

Markets seen lacklustre; RBI move eyed

Low volumes may cause volatility

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Src: Economictimes, Moneycontrol

Mukesh Ambani ranked 5th best CEO in the world

2009-12-18T15:50:00.001+05:30

Mukesh Ambani ranked 5th best CEO in the world

NEW DELHI: Mukesh Ambani, who heads India's most valuable company Reliance Industries, has been ranked among top five best performing CEOs in the

world by the prestigious Harvard Business Review.

Ambani, the only Indian to feature among top 50 CEOs, is in the same league as Steve Jobs of Apple, Yun Jong-Yong of Samsung Electronics, Russian energy firm Gazprom's Alexey Miller and John Chambers of Cisco Systems.

He is also ranked number two among the top 10 emerging market CEOs with Miller at the top.

K V Kamath of ICICI Bank is the other Indian in the list of Top 10 Emerging Market CEOs. He is ranked at number 9.

The Harvard Business Review said it ranked CEOs of large public traded companies in a study conducted over 2000 CEOs worldwide. The entire group represented 48 nationalities and companies based in 33 countries.

It put Ambani in the list of "up-through-the-ranks leaders" along with the Samsung boss.

"Among the up-through-the-ranks leaders on our list are Yun Jong-Yong, who joined Samsung straight out of college and worked there 30 years before becoming CEO, and Mukesh Ambani, who joined RIL in 1981, when it was still a textile company run by his father. These CEOs may not all be household names, but here's an objective look at who delivered the top results over the long term," HBR said, ranking Steve Jobs as the top CEO in the world.

Jobs, it said, delivered a whopping 3,188 per cent industry-adjusted return (34 per cent compounded annually) after he rejoined Apple as CEO in 1997, when the company was in dire strait.

From that time until the end of September 2009, Apple's market value increased by USD 150 billion.

He was followed by Yun Jong-Yong, who ran South Korea's Samsung Electronics from 1996 to 2008. "Yun is an example of a leader who has stayed out of the limelight. During his tenure he capably transformed Samsung from a maker of memory chips and me-too products into an innovator selling digital products such as leading-edge cell phones."

Miller was number 3 followed by Chambers. HBR said none of the top three CEOs had a MBA. Ambani and Chambers were the only two on the top five to hold degrees in business administration.

"CEOs who were promoted from inside the company tended to have stronger performance than those brought in from the outside," said HBR.

mOre @ Mukesh Ambani ranked 5th best CEO in the world

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India-origin Ayer among top 12 CEO exits in 2009: Forbes

Reliance biggest wealth creator in FY09, Unitech fastest

Italian honour for Ratan Tata

Src: Ecoomictimes

Heard on the street

2009-12-18T08:39:00.003+05:30

Heard on the street

Rain Commodities on a high as FIs turn bullish

Shares of Rain Commodities, one of the largest producers of calcined petroleum coke (CPC), have been on an upward journey despite a downtrend in the broader market in the past few weeks. Market sources say institutional investors have been bullish on the stock with a leading mutual fund acquiring sizeable stake through the open-market route recently.

Analysts expect CPC demand to get a boost amid commissioning of many large aluminium capacities in the next few years. Rain Commodities also manufacturers cement which is marketed under the brand ‘Priya Cement’ in the South. Last week, Reliance Mutual Fund bought a 4.5% equity, raising its stake to 9.1% in the company.

The growing institutional interest in the counter is also reflected in the sharp rise in the share price. The stock climbed 9% to Rs 234.8 in a flat market on Thursday, recording a 39% jump in the past one month.

Overseas fund managers welcome early trade

Foreign fund managers tracking India out of Singapore and Hong Kong are happy that trade timings have been advanced rather than extended, while domestic fund managers wish that it would have been the other way round. These money managers start their day as early as 7 am (Hong Kong/Singapore time).

By the time those markets close, there is about two-and-a-half hours of trading still left in India. So, the fund managers leave for home at 6 pm (HK/Singapore). Had timings been extended beyond 3:30, these fund managers would have been delayed in office for another hour. But domestic fund managers are unhappy, considering that they will now have to begin their day earlier.

Lack of clarity on RIL’s Lyondell bid drags down

Shares of Reliance Industries drifted lower on Thursday, shedding 1.2% over its previous close to end the day at Rs 1,034, and weighing down the main indices. The market is awaiting whether RIL will make a financial bid for Dutch petrochemical firm LyondellBasell.

Market participants say officials from RIL’s investor relations team had met up with fund managers on Tuesday, where it was indicated that the bidding process could be a long-drawn affair, and that it would bid “reasonably” and not “aggressively”.

(Contributed by Vijay Gurav & Santosh Nair)

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India Financials

Wealth Creation Study

Src: Economictimes, DP Blog

Know The Personalities: C.K.Prahalad, Nandan Nilekani

2009-12-17T15:56:00.002+05:30

C. K. Prahalad

From Wikipedia, the free encyclopedia

(Redirected from Prahalad)

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C. K. Prahalad
Born	1941^[1]
Nationality	Indian
Alma mater	University of Madras Harvard University
Occupation	Professor
Religious beliefs	Hindu
Website www.ckprahalad.com/

Coimbatore Krishnarao Prahalad (pronounced as: Pra-huh-laadh) (b. 1941^[1], Coimbatore, Tamil Nadu, India^[2]) is an Indian entrepreneur, consultant, and management expert. Paul and Ruth McCracken Distinguished University Professor of Corporate Strategy at the Ross School of Business of the University of Michigan.

He is one of the recipients of Pravasi Bharatiya Sammaan awards in 2009^[3], and was conferred the Padma Bhushan, an Indian civilian award, the same year. In 2009 he was named the world's most influential business thinker on The Thinkers 50 list, published by The Times ^[4].

[hide]

[edit] Personal life and education

Prahalad is one of nine children. His father was a well-known Sanskrit scholar and judge in Chennai. When he was 19, Prahalad was recruited by the manager of the local Union Carbide battery plant after completing his B.Sc degree at the University of Madras. He worked there for four years. Prahalad calls his Union Carbide experience a major inflection point in his life.

At Harvard Business School,Prahalad wrote a doctoral thesis on multinational management in just two and a half years, graduating with a D.B.A. degree in 1975.^[5]

He then returned to India, where he taught at the IIM Ahmedabad. He returned to the United States, as an assistant professor at the University of Michigan.

[edit] Career

[edit] Writings, interests, and business experience

C. K. Prahalad is the author of a number of well known works in corporate strategy including The Core Competence of the Corporation (Harvard Business Review, May-June, 1990). He has authored several international bestsellers, including: "Competing for the Future"(with Gary Hamel), 1994, "The Future of Competition," (with Venkat Ramaswamy), 2004 and "The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits," Wharton School Publishing, 2004. His new book with co-author M. S. Krishnan is called The New Age of Innovation.

He was co-founder and became CEO of Praja Inc ("Praja" from a Sanskrit word "Praja" which means "citizen" or "common people"). The goals of the company ranged from allowing common people to access information without restriction (this theme is related to the "bottom of pyramid" or BOP philosophy) to providing a testbed for various management ideas. The company eventually laid off 1/3rd of its workforce and was sold to TIBCO. He is still on the board of TiE, The Indus Entrepreneurs.

Prahalad has been among top ten management thinkers in every major survey for over ten years. Business Week said of him: "a brilliant teacher at the University of Michigan, he may well be the most influential thinker on business strategy today." He is a member of the Blue Ribbon Commission of the United Nations on Private Sector and Development. He is the first recipient of the Lal Bahadur Shastri Award for contributions to Management and Public Administration presented by the President of India in 2000.

[edit] See also

[edit] References

^ ^a ^b Notable Alumni: Dr. C K Prahalad. IIMA USA Chapter.
^ Biography: CK PRAHALAD. Thinkers50.
^ http://specials.rediff.com/news/2009/jan/09slide1-pravasi-bharatiya-divas-awards-ceremony.htm
^ http://news.therecord.com/Business/article/613813
^ Professor C.K. Prahalad

More @ http://en.wikipedia.org/wiki/Prahalad

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Nandan Nilekani

Nandan Nilekani

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Jump to: navigation, search

Nandan M Nilekani

Born	2 June 1955 (1955-06-02) (age 54) Bangalore, Karnataka, India
Occupation	Chairman of Unique Identification Authority of India (UIDAI)
Salary	$203,545 USD (net compensation in 2007)^[1]
Net worth	▲ USD $1.3 Billion

Nandan Nilekani (Konkani/Kannada: ನಂದನ ನಿಲೇಕಣಿ) (born June 2, 1955) is an Indian entrepreneur and businessman. He currently serves as the Chairman of the new Unique Identification Authority of India (UIDAI), after a successful career at Infosys Technologies Ltd. He was the inspiration behind the book, The World is Flat.^[2]

[hide]

[edit] Early life

Nandan Nilekani was born in Bangalore, Karnataka, as the younger son of Durga and Mohan Rao Nilekani. His father worked as a General Manager of Mysore and Minerva Mills. His father, subscribed to the Fabian Socialist ideals, had an influence on Nandan during his early years. He has a older brother, Vijay, who works in the Nuclear Energy Institute.^[3]

He studied at Bishop Cotton Boys School Bangalore, and then at St. Joseph's High School Dharwad, and later in IIT, Bombay where he graduated with a B.Tech in Electrical Engineering in 1978. ^[4] His early years were marked by his father’s job transfers and re-locations. He spent the first twelve years at Bangalore, where he studied at the Bishop Cotton Boys School. He then moved in with his uncle’s family in Dharwad, after his father had been transferred.

[edit] Career

Nandan Nilekani, after graduating from IIT Bombay in 1978, he joined Mumbai-based Patni Computer Systems where he was interviewed by N.R. Narayana Murthy. Three years later, in 1981, Murthy walked out of Patni following a dis-agreement with one of the Patni brothers. His entire division walked out with him. The defectors decided to start their own company, Infosys.

Nilekani became the Chief Executive Officer of Infosys in March 2002, taking over from Murthy. Nilekani served as CEO and MD of the company from March 2002 to April 2007, when he relinquished his position to his colleague Kris Gopalakrishnan, becoming Co-Chairman. He left Infosys on 9 July 2009 to serve as the chairperson of the Unique Identification Authority of India, in the rank of a cabinet minister under invitation from the Prime Minister of India, Dr. Manmohan Singh.

He co-founded India’s National Association of Software and Service Companies (NASSCOM) as well as the Bangalore Chapter of The IndUS Entrepreneurs (TiE).

He appeared on The Daily Show with Jon Stewart on March 18, 2009^[5] to promote his book "Imagining India." He has been a speaker at the prestigious TED conference where he talked about his ideas for India's future.

He has an estimated net worth of the Indian rupee equivalent of US$1.3 billion.^[6] In 2009, Time magazine placed Nilekani in the Time 100 list of 'World's Most Influential People' ^[7]

More @ http://en.wikipedia.org/wiki/Nandan_Nilekani

Src: Wikipedia

New trading time to be effective from January 4, 2010

2009-12-17T15:50:00.002+05:30

New trading time to be effective from January 4, 2010

MUMBAI: Reacting to opposition from the brokering fraternity, both the Bombay Stock Exchange and National Stock Exchange have postponed the

High-flying stocks
Top 5 picks
Mid-term picks

implementation of new trade timings to January 4, 2010, from the earlier decided December 18, 2009.

The bourses will open for trade at 9:00 am instead of the usual 9:55 am and will close at the usual time of 3:30 pm.

The BSE, on Wednesday, announced advancement of trade timing to 9:45 am. Reacting to this unilateral decision, NSE said it would start trade at 9:00 am.

Many brokers were worried about the operational aspects, in addition to the strain that it will put on their daily routine. "Arranging for margin (funds) early on in the day will be a problem since banks don’t open that early,” said Nikhil Jalan of Kamal Kumar Jalan Securities. “If the exchanges are keen on extended hours, why not ensure that other systems too are in place. And by extending trade timings by an hour, you can’t really snatch volumes from the Singapore exchange, because that market will still open ahead of us and people wanting to trade there will continue to do so,” he said.

Some of the brokers who spoke to ET, on condition of anonymity, said that the regulator/exchanges should have conducted a proper poll before increasing the trading timings.

BSE's move to steal a march on NSE provoked a much stronger reaction than what Asia’s oldest bourse had expected. The BSE was learnt to have been opposed to the idea of extended trading hours all along. Yet, it went ahead and advanced trade timing by 10 minutes, in the hope that it would improve liquidity.

Incidentally, surveys conducted by the Association of National Exchange Members of India (ANMI) and the BSE Brokers Forum a few weeks ago, showed that the majority of brokers were opposed to the extension of trading hours.

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	Picks for an aggressive stock portfolio HDFC Sec
	Picks for a conservative stock portfolio HDFC Sec

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Src: Economictimes, Valuenotes

BSE,NSE to open trading window at 9 from Friday

2009-12-17T08:31:00.002+05:30

BSE,NSE to open trading window at 9 from Friday

MUMBAI: What started as a battle of egos between the country’s top two stock exchanges will end up permanently altering the lifestyles of those

Tips to pick potential stocks
Tips for range-bound markets
Risk while investing in midcaps
Follow 20-20 rule for better returns

even remotely connected with the share market. It’s not just stock traders and fund managers who will have to begin the day early, but life will change for bank tellers, television anchors and the tea boy on Dalal Street as well.

Reacting sharply to the Bombay Stock Exchange’s (BSE) move to bring forward trading hours by 10 minutes, the National Stock Exchange (NSE), on Wednesday, said it was advancing its timing by 55 minutes, to 9 am from Friday. The closing timing will remain the same at 3:30 pm. Left with no option, BSE said that it, too, will begin trading hours at 9 am from Friday.

“We had extensive consultations with market participants...and the feedback was that now that BSE had changed its timings...so it was inevitable for NSE to change it also...so that there is no uncertainty created in the market,” Ravi Narain, managing director & CEO, NSE, told ET NOW.

Also Read

→ BSE advances trading time on block deal counter

→ BSE on options hunt for fortune change

→ BSE in for an early bird advantage over NSE

→ Integrity a must in the stock market, says regulator

No exchange can afford to remain closed while the other is open, as the exchange that is open will set the benchmark prices. Also, brokers on the exchange that is closed at that time will not have a chance to react. The dual moves sparked angry reactions from broking firms, especially the smaller firms. “This is absolute nonsense and will inconvenience those employed in the industry. We, too, have our personal lives. This is not some school where timings can be changed arbitrarily, this is business,” said Suresh Mehta, chairman and managing director of Dhyan Stock Broking.

The original advocates of early market hours were those who felt that foreign fund managers used the shallow Singapore market to hammer the

Tips to pick potential stocks
Tips for range-bound markets
Risk while investing in midcaps
Follow 20-20 rule for better returns

Nifty by short-selling Nifty futures there. However, this problem may still persist, as Singapore will open well ahead of the Indian market, despite the advanced timings.

But many are worried about the operational aspects, in addition to the strain that it will put on their daily routine. “Arranging for margin (funds) early on in the day will be a problem since banks don’t open that early,” said Nikhil Jalan of Kamal Kumar Jalan Securities. “If the exchanges are keen on extended hours, why not ensure that other systems too are in place.

And by extending trade timings by an hour, you can’t really snatch volumes from the Singapore exchange, because that market will still open ahead of us and people wanting to trade there will continue to do so,” he said. Some of the brokers who spoke to ET, on condition of anonymity, said that the regulator/exchanges should have conducted a proper poll before increasing the trading timings.

BSE’s move to steal a march on NSE provoked a much stronger reaction than what Asia’s oldest bourse had expected. The BSE was learnt to have been opposed to the idea of extended trading hours all along. Yet, it went ahead and advanced trade timing by 10 minutes, in the hope that it would improve liquidity. Incidentally, surveys conducted by the Association of National Exchange Members of India (ANMI) and the BSE Brokers Forum a few weeks ago, showed that the majority of brokers were opposed to the extension of trading hours.

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High-flying stocks | Top 5 picks | Mid-term picks

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Investors likely to choose US over emerging markets: Faber

Day traders shift focus to mid-caps

It may be time to start selling gold

Strong support seen at 5K for Nifty

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Heard on the street

Hostile takeover bid buzz boosts Gujarat

Heavy

Shares of Sanjay Dalmia-owned soda ash manufacturer Gujarat Heavy Chemicals surged nearly 10% on reports that the company may face a hostile takeover bid by a disgruntled shareholder, Pramod Jain. Pramod Jain holds a 5% stake in GHCL and Dalmia holds around 18% stake in the company.

This will be the second attempt by Pramod Jain to corner substantial stake in a Dalmia-owned company in a month’s time. Pramod Jain has already made an open offer for 25% of Golden Tobacco (GTC) shares at Rs 101 a share which is awaiting Sebi approval. Pramod Jain’s JP Financial Services and persons acting in concert hold a 6.47% stake in GTC. Gujarat Heavy Chemicals closed the day at Rs 54.85/share on Wednesday. GHCL is expected to hold a crucial AGM on December 31, 2009.

Of Dalmia’s a 18.26% stake in GHCL, 9% is already pledged with Indiabulls against an on-demand loan. The shares pledged with Indiabulls, however, may not be a threat after the two parties agreed to an out-of-court-settlement on December 14 over Dalmia’s default to a Indiabulls loan of Rs 225 crore.

Responding to an email query by ET NOW, Sanjay Dalmia said, “We, the promoters along with our friends, have comfortable levels of shareholding.” Sanjay Dalmia has a financial obligation of close to Rs 250 crore towards the settlement of dispute with Indiabulls Financial Services. Pramod Jain had said that he made the open offer for GTC shares to stop promoters from transferring the GTC-owned land in Mumbai as part of the payment to Indiabulls.

MFs’ asset base shrinks as cos redeem debt funds

Mutual funds are realising their worst fears with companies redeeming their investments from debt mutual fund schemes to make advance tax payments. According to fund industry sources, debt schemes — as a category alone — could see outflows to the tune of thousands of crores in December. Fund houses like ‘Bull-head MF’ ‘Real Care MF’, ‘Icy-Icy MF’, ‘Moon Life MF’ and ‘Reliable MF’ are said to have lost sizeable chunks of assets from their debt portfolios.

Advance tax payments by companies have risen over 30% in the third quarter of current fiscal, market experts opine. Prominent institutional investors like banks, manufacturing and service-related businesses have all paid higher advance tax than previous quarters. Come January, fund houses will compete with each other to coerce corporate treasury heads to reinvest in their debt schemes, in their bid to increase asset bases.

(Contributed by Nisha Poddar & Shailesh Menon)

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Strategy - Dec 17 2009

Morning Note - Dec 17 2009

Natco Pharma

Jain Irrigation Systems

Src: Economictimes, DP BLog

Cos yielding better returns

2009-12-16T08:46:00.001+05:30

Cos yielding better returns

Until recently, investment advisors were apprehensive of investing money in companies with low free-float (non-promoter holding). However, model investment portfolios of investors are changing structurally, as companies with high promoter holdings are yielding better than companies with low promoter holding and government undertakings.

In the past three years, A-group companies (with high promoter holding) like Sesa Goa, Shree Renuka Sugar, Jindal Steel, Bhushan Steel, Shriram Transport, Welspun Gujarat have returned 180-845%. Index stocks and sector frontliners, where promoters hold equity stake between 30% and 80%, like Tata Steel, TCS, M&M, Wipro, Bharti Airtel, Hindalco, Grasim Industries, Tata Motors and ACC have averaged a 20% compunded return over the past three years. Read Full Article

Click next to see companies that are yielding better returns.

JSW Steel Ltd
16 Dec 2009, 0232 hrs IST

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Jai Corp Ltd
16 Dec 2009, 0232 hrs IST

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Jindal Steel & Power Ltd
16 Dec 2009, 0232 hrs IST

Print	Save	EMail	Write to Editor

MOre @ Cos yielding better returns

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Heard on the Street

MFs see value in Ambuja Cements on demand rise
After underperforming the broader market during the recent bull run, cement pivotal

Ambuja Cements shares have been seeing good action despite generally sluggish market conditions in the past few weeks. According to market sources, institutional investors, mostly local mutual funds, have been accumulating the stock on easing of concerns over excess capacity in the industry, cement prices and margins.

Sentiment has improved on hopes of a rise in cement demand amid rapid infrastructure and housing development in the country, according to analysts. Last month, Genesis Asset Managers, a foreign fund, bought a few lakh shares to raise its stake beyond 5% of the company’s equity capital. Ambuja Cements shares have risen 13% against 0.2% rise in the Sensex in a month.

Flurry of bulk deals lift Thinksoft
Despite sagging performance of high-profile issues post-listing, investors in some mid-, and small-sized IPO continue to receive outsized returns. For instance, Thinksoft Global Services has more than doubled over its issue price of Rs 125. The stock closed at Rs 285 on Tuesday, up 2% from previous close. According to brokers, the company, which is into the niche segment of software testing services, has been attracting buyers in anticipation of some corporate development.

The interest can be gauged by the flurry of bulk deals in the past couple of weeks. Asenior company official, however, declined to comment. Similarly, others like Jindal Cotex and Astec Lifesciences have also offered them much better returns than many other relatively large-sized issues, currently languishing below their respective offer prices.

Investors bet on strong earnings of sugar firms
Even as the broad market is struggling for direction, some of the savvy players are busy loading up on sugar stocks. One of the closely-watched developments is whether the Balrampur Chini management will eventually capitulate to either Bajaj Hindusthan or Shree Renuka Sugars. Traders tracking the counter say a deal is unlikely before 3-4 months at least, as it is the peak season for the sector, and that influences valuations. Even otherwise, traders are betting that strong earnings for the current quarter as well as the next will keep shares of sugar companies in demand. Shares of Shree Renuka rose 3.4% to close at Rs 215.60. Bajaj Hindusthan rose 1%.

Contributed by Vijay Gurav, Apurv Gupta & Santosh Nair

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DB Corp Oversubscription Allotment Details

Heritage Foods

Reliance Communications

Bank of Baroda, Property Sector

Geodesic Ltd

Src: Economictimes, DP Blog

Heard on the Street

2009-12-15T08:16:00.001+05:30

Heard on the Street

Domestic institutions lap up Mangalam Cement
Rajasthan-based Mangalam Cement is said to have caught the fancy of a few domestic

institutions of late. The stock was the star performer on Monday, rising 9% to close at Rs 138, despite the overall trend being sluggish. With Monday’s gains, the stock has climbed around 20% over the past one month. Buzz is that a private insurance company is leading the pack of domestic buyers. This insurer is said to have mopped up close to 4%. Analysts tracking say Mangalam is one of the safer bets among small-cap cement stocks.

Short-sellers in JSW Energy may lose
Traders, who have gone short on the JSW Energy issue in the grey market, could find themselves in a spot of bother. Talk is that the issue is likely to be priced closer to the lower end of the price band of Rs 100-115. The issue, which has been subscribed 1.7 times, received a moderate response from investors. The company may have decided against pricing the issue aggressively.

A leading investment bank, which failed to find a place in the syndicate of lead managers to the issue, is said to have heavily short sold through grey market punters. The punters pushed the price down to a discount of around Rs 4 to the top end of the price band. Now, that the issue is likely to be priced even lower than that, the punters could be in for a nasty surprise. But they may still end up making a tidy profit, if the stock lists at a discount to the issue price.

Market sees delay in SME trading platform
The launch of the trading platform for SMEs by existing bourses is likely to be delayed, according to market participants, pointing to the statement made by finance minister Pranab Mukherjee on Monday in Rajya Sabha. “The need and criteria of listing at SME exchange/platform are different from those for listing on BSE and NSE. Therefore, it is felt that separate SME exchange/platform of existing stock exchanges are required,” said Pranab Mukherjee in Rajya Sabha.

Rs 100-cr fund for investor awareness
Sebi is planning a Rs 100-crore investor awareness fund that will be used to spread awareness

about mutual fund investments. Industry sources said the regulator is working out a plan to pool in money for the fund from AMCs. The regulator may advise fund houses to forego a small portion of the expense ratio they collect from investors. Expense ratio is an income for MFs, as it covers fund management fee and administrative costs.

As per Sebi regulations, a MF can charge a maximum expense of 2.5% for equity funds, 2.25% for debt funds and 1.5% for index funds and 0.75% for fund of funds. MFs, on their part, maintain a small corpus of fund (also termed investor awareness fund) to educate investors. “Contributing for one more fund will further cripple the industry. As such, most fund houses are logging huge losses operating in the current environment,” said the CEO of a domestic fund house.

Contributed by Apurv Gupta, Santosh Nair, Reena Zachariah & Shailesh Menon

Src: Economictimes

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RIL woos Lyondell creditors as mgmt fights back

Bearish triple top at 5180

2009-12-14T08:53:00.003+05:30

Bearish triple top at 5,180

The market trended through a narrow range during most of the week and touched a new 2009 high before sliding on Friday. The Nifty hit a high of 5,182 before dropping to close at 5,117 points for a nominal 0.2 per cent week-on-week gain.

The Sensex was also practically unchanged at 17,119 points. The Defty lost 0.5 per cent as the rupee slid.

Breadth signals were poor. Declines slightly outnumbered advances and volumes were low. FIIs were moderate buyers while domestic institutions were moderate sellers. The BSE-500 lost marginal ground and so did the BSE-Midcaps. The BankNifty and Nifty Junior lost more than the overall market while the CNXIT gained.

Outlook: The market is in a short-term downtrend and it should find support between 5,000 and 5,050 in the next couple of sessions. Most likely, it will range trade between 5,000 and 5,180. Volumes and carryover patterns are bearish but the intermediate trend still appears to be up.

Rationale: There is heavy resistance at 5,180- the market has hit that level thrice since late October and turned South each time. The intermediate trend should be up since we have seen higher lows followed by multiple-tops at 5,180. The double top of the past two peaks has bearish short-term implications. On the downside, the intermediate trend would remain bullish or neutral if the market stays above 4,806 (last low).

Counter-view: Low volumes are always a sign of lack of demand and often translate into bearishness. The next two-three weeks are unlikely to see volumes climb since this is year-ending for most FIIs, who will stay clear of the market. So, a deeper correction that shades into an intermediate downtrend is possible with 4,806 being a key pivot. On the upside, a breakout past 5,180 and close above that point would be positive but unlikely without volume expansion.

Bulls and Bears: The reaction on Friday saw selloffs in banking and real estate and other interest rate-sensitive stocks. The BankNifty lost 1.6 per cent over the week with other finance sector stocks dropping as well. PSU banks got hit harder than private sector banks. The CNXIT gained around 1.6 per cent, which was an outperformance compared to wider indices but it saw corrections by the weekend.

Engineering majors like BHEL, Greaves and ABB looked strong. So did a couple of auto sector companies like Bajaj and Bharat Forge. Cement shares looked to have the potential to buck a possible downtrend with Grasim and ACC both doing well. Sail and Jindal Steel & Power were other gainers against the trend on Friday. Quite a few big guns like HUL, Reliance Industries and L&T held their ground.

MICRO TECHNICALS

BAJAJ AUTO
Current price: Rs 1,725
Target price: Rs 1,765

The stock has hit a new high on very good volumes. It is in a new zone so target projection will have a high error factor. However, the pattern suggests that Rs 1,765 is a reasonable target. Keep a stop at Rs 1,710 and go long. Be prepared for high volatility.

THERMAX
Current price: Rs 579.75
Target price: Rs 550

The stock has broken a key support and it could continue to travel down until it hits good support in the Rs 550-555 region. Keep a stop at Rs 590 and go short. Partially cover at Rs 560. Start clearing the rest of the position between Rs 550 and Rs 555.

BERGER PAINTS
Current price: Rs 63.5
Target price: Rs 72

The stock has seen sharp volume expansion and it has completed a bullish pattern. It faces some resistance at Rs 66 but it has a target projection of about Rs 72. Keep a stop at Rs 61 and go long. Add to the position above Rs 66 and clear the position above Rs 71.

ORIENTAL BANK OF COMMERCE
Current price: Rs 264.5
Target price: Rs 245

The stock broke a key support on high volumes. It is likely to drop till around the Rs 245 level if the pattern projections are fulfilled. Keep a stop at Rs 270 and short. Partially cover at Rs 255 and hold the rest of the position with a stop loss at Rs 260.

UNITECH
Current price: Rs 86.65
Target price: Rs 75

The stock has seen the start of a correction in the last two sessions. It is poised on an important support. If it falls below Rs 84, it could slide till around Rs 75. Keep a stop at Rs 89 and short. Increase the position below Rs 85. Start booking profits below Rs 77.

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F&O OUTLOOK: Breakout may swing both ways

Analysts' corner	14-DEC-09
Crude oil prices have declined by $6.6 per barrel (or 8.3 per cent) since December 1, 2009 led by rise in crude inventories in the US, strengthening of the dollar and financial crisis in Dubai, which have increased concerns on the pace of the global economic recovery.

Markets at a glance	14-DEC-09
The RBI governor’s statement that capital inflows are manageable perked up investor sentiments.

Strangles could be lucrative	14-DEC-09
The most probable directional movement in the rest of the settlement appears to be sideways.

Bearish triple top at 5,180	14-DEC-09
The market trended through a narrow range during most of the week and touched a new 2009 high before sliding on Friday.

Keeping it simple	14-DEC-09
When price movement bothers you while you sleep and causes you dreams of paradise or nightmares, you are suffering from the real capital market crisis.

Regional advantage	14-DEC-09
A leadership position in its business, a good track-record and better growth opportunities in smaller towns augur well for DB Corp.

Seeking quality managers	14-DEC-09
K N Sivasubramanian, vice president and portfolio manager at Franklin Templeton AMC has been riding the growth wave along with the rise in the markets over the last one year.

A perfect brew	14-DEC-09
The win-win deal between United Breweries and Heineken opens up a window of growth opportunities for the duo.

Still in rough seas	14-DEC-09
Without a strong global economic recovery, the maritime sector will find it tough to overcome the demand-supply mismatch.

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Analysts' Picks: IVRCL Infra, Infy, Essar Oil, Cadila, Marico, Maruti

Top 5 picks | Mid-term picks | Top Banking stocks | About Nifty

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SKF india, Kalpataru Power

JSW Energy IPO, Godrej Properties IPO

Weekly Newsletter - Dec 14 2009

Weekly Watch - Dec 13 2009

Weekly Newsletters - Dec 13 2009

India Strategy

Kajaria Ceramics

Src: Economictimes, DP Blog, Business-Standard.com

Sensex reveals 10-year trend and Stock Reports

2009-12-13T15:09:00.004+05:30

Sensex reveals 10-year trend

NEW DELHI: For the last 10 years, the Sensex declined in the second half of the calendar year only when it fell in the first half of the year, an

Volatile mkts: Do I invest now or exit?
Tips for range-bound markets
Risk while investing in midcaps
Follow 20-20 rule for better returns

analysis by SundayET reveals. And if that 10- year trend holds out, investors who took positions on the BSE Sensex during the early days of the second half of the current calendar year need not worry about losing money as the market appreciated by over 46% during the first half of CY09.

The analysis reveals that on average the performance of the Sensex has been better in the second half of the year. The average returns of the Sensex since 1999 (excluding 2009) for the second half of the year was 17% whereas it was -2% for the first half of the year.

Also, between 1999 and 2008, the Sensex fell five times — 2000, 2001, 2002, 2004 and 2008 — in the first half of the year, while it declined only thrice — 2000, 2001 and 2008 — in the second half of the year. During the first half of CY2000, CY2001 and CY2008, the Sensex posted a negative return of around 12%, 13% and 34%. Consequently, in the second half it declined by 18%, 5% and 26% in the second half during these years.

Also Read

→ Cheaper US funds keep the D-St show going, for now

→ FIIs prefer Indian stocks over depository receipts

→ Common mistakes that careless investors make

→ Rich turn risk-averse, eye debt for big returns

Also, between CY1999 and CY2008, there were only two instances, CY1999 and CY2000, when the return in the first half was better in than the second half of the year. In CY1999, during the first half the Sensex posted a return of 35% as against just 19% in the second half.

Similarly, in CY2000, the Sensex declined by only 12% during the first half whereas in the second half it lost as much as 18%.

Explaining the reasons for the markets doing better during the second half of the year, Deena Mehta, MD, Asit C Mehta Investment said that usually foreign institutional investors start buying during January, and hence local investors and punters start building up their positions from November and December.

According to Aseem Dhru, MD & CEO of HDFC Securities, during the second half of the year, demand in sectors such as auto, textile, hotels, FMCG and consumer durables is usually high. “Even today large parts of the population buy clothes only once a year and that is during Diwali. Even foreign tourists start visiting the country during the second half of the year as the climate is good. Given the composition of economy, this pattern is likely to continue,” he said.

The Sensex posted better returns in the second half 80% of the time. During the current calendar year, it posted around 46% return in the first half. However, it is to be seen whether in the second half the Sensex outperforms the return of first half. Till now during the second half of the current calendar year, the Sensex has posted a return of 17%, but there is just over a fortnight left for this year to end.

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Other Stories:

IPO - It's probably overpriced in 2009
Check out the Top 10 Banking Stocks

Stock Reports:

	Prakash Industries: Buy on dips Hedge Equities
	Two attractive mid cap picks Sanjay Chhabria
	C&C Constructions: Market performer KRChoksey
	GIPCL: Buy at CMP Rs122 RR Financial Consultants
	ABB: Buy at CMP Rs735 Abhishek Jain
	Punj Lloyd: Negative news overdone, gearing up for growth Indiabulls

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D B Corp Ltd IPO Information & IPO Evaluation

Incorporated in 1995, D B Corp Ltd is one of the leading print media companies in India, publishing 7 newspapers, 48 newspaper editions and 128 sub-editions in three languages (Hindi, Gujarati and English) in 11 statesin India.

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Friday, December 11, 2009

Stock Tips - Buy Visa Steel For Short Term

NSEMumbaibull, independent equity research group has recommended to buy stocks of Visa steel limited (BSE Stock code: 532721) for short term investment for good returns.

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Thursday, December 10, 2009

Godrej Properties IPO Valuation

Incorporated in 1990, Godrej Properties Limited (GPL) is one of the leading real estate development companies in India based in Mumbai, Maharashtra.

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Tuesday, December 8, 2009

Bhushan Steel - Stock Analysis - Buy Stocks For Long Term

The recent recovery in Indian economy has once again increased the demand for steel products. There has been significant rise in auto sales and other consumer goods in last few months. All these factors have led to a rise in sales of flat steel products. Bhushan Steel, a leading producer of flat products, is set to benefit from all these.

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Saturday, December 5, 2009

Alphageo India - Stock Analysis With Stock Rating

After dismal performance in the last fiscal, Alphageo India’s business improved in FY2010 (the current fiscal) and the growth momentum continued in Q2FY2010 despite it being a seasonally weak quarter.

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IPO Information - JSW Energy Ltd.

Incorporated in 1994, JSW Energy Limited (JSWEL) is a group company of Jindal South West (JSW) group headed by Mr.Sajjan Jindal. The JSW Group has a presence in the steel, power, cement, software, and infrastructure sectors.

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Experts see cheerful end to 2009, choppy mkts in 2010

Check out: Must-have stocks and sectors in this season

Wkly Tech Analysis: 17,370 critical for upside

TECHNICAL ANALYSIS: Index Outlook — Awaiting the Santa Claus rally
The pause at the threshold is so long-drawn that the Sensex appears frozen around 17,000. With even a stunner such as the Dubai debt fiasco scarcely causing a ripple in the market's serene mood, the index appears set to finish this year ...

RECOMMENDATION: Consider bull call spread on Nifty
INDEX STRATEGY. Traders can consider a bull call spread on Nifty by buying Nifty Dec 5,100 call, which closed the week at Rs 117 and selling Nifty Dec 5,300 call which closed at Rs 35. This bull spread will cost you Rs 83. The cost of setting ...

INSIGHT: Choosing between options and futures
Trading interest in options has gradually increased over time. Today, individual traders employ strategies ranging from buying plain-vanilla index calls to sophisticated strategies involving relative-value trades on equity options. Yet, it ...

RECOMMENDATION: Bank Nifty appears weak
STOCK STRATEGY. Bank Nifty (9,097.2): After touching its 52-week high recently, the index has been on a downtrend. The outlook appears negative as long as Bank Nifty stays ...

STOCKS: Tata Steel: Hold
Investors may consider holding on to their Tata Steel shares. Uncertainties at its acquired European operations have been the key challenge for this profitable integrated low-cost steel producer, whose Indian and South East operations continue ...

IPOS: DB Corp – IPO: Invest
Investors can consider subscribing to the initial public offer of DB Corp, a print media company that publishes the widely read Hindi daily, Dainik Bhaskar. Its strong regional footprint in the Hindi speaking states has enabled it to ...

STOCKS: Federal Bank: Buy
Investors with a penchant for risk can consider buying the Federal Bank stock at the current levels. The stock seems to be undervalued despite the bank displaying strong growth in earnings in the last ...

RIGHTS ISSUE: City Union Bank — Rights Offer: Subscribe
A very low offer price makes the 1:4 rights offering from City Union Bank a good investment proposition. The company expects to raise Rs 48 crore from the issue. At the rights offer at Rs 6 per share, which is at a 76 per cent discount to ...

STOCKS: Techno Electric & Engineering: Buy

Src: Economictimes, Valuenotes, Indianstocksnews.com, Moneycontrol.com, Businessline.in

My Favourite Personalities

2009-12-13T15:00:00.002+05:30

Deepak Parekh

Deepak Parekh is the Chairman of HDFC, the India's leading housing finance company. A pioneer in mortgage finance, he has enabled scores of Indian middle class people owning their houses or apartments through affordable loans.

A chartered accountant, Deepak Parekh began his career with Ernst & Young Management Consultancy Services in New York. After returning to India, he worked with Grindlays Bank and also Chase Manhattan Bank as its assistant representative for South Asia. Deepak Parekh joined HDFC in 1978. He was promoted as its Managing Director in 1985 and appointed its Chairman in 1993. He is instrumental in making the HDFC a premier housing finance institution in the country. Deepak Parekh is also the Non-Executive Chairman of Infrastructure Development Finance Company Ltd (IDFC), a Government of India enterprise for infrastructure projects in 1997. He is also the Non-Executive Chairman of Glaxo India Ltd & Burroughs Wellcome (India) Ltd and on the Board of Castrol BP India; Hindustan Lever; Siemens Ltd, Mahindra & Mahindra and Indian Hotels Company. He is also a non-executive, independent Director of SingTel.

Deepak Parekh has been a member of various Committees set up by the Government of India. He was appointed Chairman of the high level expert committee, formed to recommend measures for strengthening the Unit Scheme – 1964. The Reserve Bank of India appointed him Chairman of the Advisory Group for Securities Market Regulation, which was tasked to compare the level of adherence to international standards in India with that in other countries. He was also Chairman of the Expert Committee constituted by the Ministry of Power to look into the reform efforts in the power sector.

Deepak Parekh has won several awards including Businessman of the Year 1996 by Business India and the JRD Tata Corporate Leadership Award by All India Management Association (AIMA). He was the first recipient of the Qimpro Platinum Award for Quality for his contributions to the services sector and the youngest recipient of the prestigious Corporate Award for Life Time Achievement by the Economic Times. He was also conferred Padma Bhushan by the Government of India.

[edit] References

MOre @ http://en.wikipedia.org/wiki/Deepak_Parekh

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Sunil Mittal

Sunil Bharti Mittal, born October 23, 1957 is an Indian businessman. He is the chairman and managing director of the Bharti group. The US$5 billion turnover company runs India's largest GSM-based mobile phone service. He is the son of the late Sat Paul (former MP) and Lalita.[5]

unil Bharti Mittal

Born	October 23, 1957 (1957-10-23) (age 52) Ludhiana, Punjab, India
Residence	South Delhi
Ethnicity	Indian
Alma mater	Punjab University Bachelor of Economics & Political Science [1]
Occupation	Founder, Owner, Chairman and CEO of Bharti Airtel
Net worth	▲US $ 8.2 billion (2009) [2]
Religious beliefs	Hindu
Spouse(s)	Nyna [3]
Children	Eiesha and twins Kavin & Sharvin [4]^[1]
Website www.airtel.in

More on : http://en.wikipedia.org/wiki/Sunil_Mittal

Src: Wikipedia.Org

My Favourite Personalities

2009-12-10T16:10:00.005+05:30

Ratan Naval Tata

Ratan Naval Tata (born December 28, 1937, in Mumbai) is the present Chairman of the Tata Group, India's largest conglomerate founded by Jamsedji Tata and consolidated and expanded by later generations of his family. He is also the chairman of major Tata companies such as Tata Steel, Tata Motors, Tata Power, Tata Consultancy Services, Tata Tea, Tata Chemicals, The Indian Hotels Company and Tata Teleservices.

Ratan Naval Tata
Born	December 28, 1937 (1937-12-28) (age 71) Bombay Presidency, British India
Residence	Mumbai, India
Nationality	India
Ethnicity	Parsi
Citizenship	India
Alma mater	Cornell University Harvard University
Occupation	Chairman of Tata Group
Home town	Mumbai, India
Religious beliefs	Zoroastrianism
Spouse(s)	Never married
Children	2 Girls (adopted)

Early life

Ratan Tata was born into the wealthy and famous Tata family of Mumbai. He was born to Soonoo and Naval Hormusji Tata. Ratan is the great grandson of Tata group founder Jamsetji Tata. Ratan's childhood was troubled, his parents separating in the mid-1940s, when he was about seven and his younger brother Jimmy was five. His mother moved out and both Ratan and his brother were raised by their grandmother Lady Navajbai.

[edit] Early career

Ratan Tata completed a BSc degree in engineering with structural engineering from Cornell University in 1962, and the Advanced Management Program from Harvard Business School in 1975.^[1] He joined the Tata Group in December 1962, after turning down a job with IBM on the advice of JRD Tata. He was first sent to Jamshedpur to work at Tata Steel. He worked on the floor along with other blue-collar employees, shoveling limestone and handling the blast furnaces.^[2] Ratan Tata, a shy man, rarely features in the society glossies, has lived for years in a book-crammed, dog-filled bachelor flat in Mumbai's Colaba district and is considered to be a gentleman extraordinaire.^[3]^[4]

More @ http://en.wikipedia.org/wiki/Ratan_Naval_Tata

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Chanda Kochhar

Chanda Kocchar
Kocchar at the World Economic Forum's India Economic Summit 2009
Born	November 17, 1961 (1961-11-17) (age 48) Jodhpur, India
Occupation	CEO and MD, ICICI Bank
Children	A son and a daughter

Chanda Kochhar (born November 17, 1961) is currently the Managing Director (MD) of ICICI Bank and Chief Executive Officer (CEO). ICICI Bank is India's largest private bank and overall second largest bank in the country.^[1]^[2] She also heads the Corporate Centre of ICICI Bank. Kocchar has also consistently figured in Fortune's list of "Most Powerful Women in Business" since 2005. In 2009, she debuted at number 20 in the Forbes "World's 100 Most Powerful Women list".

More @ http://en.wikipedia.org/wiki/Chanda_Kochhar

Src: Wikipedia.org

There could be correction in Jan: M Stanley

2009-12-09T15:52:00.001+05:30

There could be correction in Jan: M Stanley

italic;"> Sridhar Sivaram , ED, Morgan Stanley.

It is very interesting to see that Morgan Stanley is actually negative on PSU banks and positive on private sector banks. What would the logic out there be?

Well, our view is that we could see a tightening cycle coming very soon, may be in January itself. Typically what we have seen in the past is that when we have a tightening cycle, the PSU banks tend to underperform this sector and market in general because broadly they are seen as a bond proxy. Some of that may have changed, so we would go by that view and we think in a volatile interest rates environment, the private sector banks are better positioned as opposed to the PSU banks.

So you would not get tempted to buy into the PSU banks simply because they are just so much cheaper?

Well, as I just said we are broadly underweight the PSU banks, so I would not say that within the PSU basket, there would not be banks, which may look attractive at various points of time but you have to keep in mind that PSU banks as a basket have always traded cheaper to the private sector banks. So to that extent, the discount would always be there.

The question obviously comes that there is a possibility of the earnings moving up because of deposit re-pricing and stuff like that but what we understand is that this is already known in the market and there is nothing special about this but what could come as a surprise is the accent of the CRR hike, the extent of the tightening cycle going forward. We do not where the inflation currently is because this data is not being shared right now, but, our own internal estimate is that inflation could be closer to 7.5-8% by March, which basically would mean that we would have to tighten with GDP at 7.9%, IIP double-digit growth. These are all ingredient for a tightening cycle to come much faster than what the market expects.

In light of the fact that yes, there could be a bit of tightening if you will. What about some other interest rate sensitive? Say for example, real estate, there are lot of IPOs also in the pipeline currently, one has opened today. How would you view this space?

Well, I would not comment on specific stocks but as a sector, we would be underweight the sector. Again with the same view that we would like to stay underweight interest rate sensitive as much as possible, so real estate is obviously one of them because of the tightening cycle and obviously as you mentioned, there is enough paper coming in the market, so there will be enough movement within stocks because people who already own may want to look at some of the other stocks. So we would be underweight the real estate sector also.

Consumer discretionary, which is autos would also be the other sector, which we would want to stay underweight, especially the passenger vehicle market. The two-wheeler market is less sensitive to interest rates, so broadly as you would understand what interest rate sensitive sectors and stocks are. We would broadly be underweight those sectors, and we will see how things pan out from thereon.

There could be a correction in January if interest rates actually go up but if growth continues, markets could continue to move up, say

Click to see Morgan Stanley's view on the current market.

1|2|3|4|5|Next >

Src: Economictimes.Indiatimes

Heard on the street

2009-12-09T08:50:00.002+05:30

Heard on the street

Punters zoom in on Time Technoplast
Shares of Time Technoplast, a firm specialising in polymer products, witnessed a flurry of

activity on Tuesday. On the National Stock Exchange (NSE), the stock rose 13.3% to close at Rs 43.05, with around 58 lakh shares changing hands. This included a bulk deal of 50 lakh shares, with Deutsche Equity Fund being the seller, according to the disclosure on the NSE website. No details of the buyer(s) were revealed. Market talk is that a clutch of mutual funds picked up the block on offer, with Reliable Mutual Fund accounting for a sizeable chunk. The company reported an earnings per share (EPS) of Rs 3.30 for FY09, and the EPS for the first half of the current financial year has not been spectacular at Rs 2.16. Talk is that the fund has been aggressively buying mid-cap stocks

recently in anticipation of the next wave of bull run in the segment.

MF distributors may again be left out in the cold
The mutual fund industry, which is still to come to turns with the no-load regime, has been in the news of late following a debate over the need for a no-objection certificate (NoC) from an investor seeking to change distributors. With the market regulator clearly displeased with what it views as a restrictive trade practice, the industry and, in particular, the asset management companies and distributors have come under the regulatory scanner for following a practice which is against investor interest. The buzz on the street is that the AMFI-appointed committee (comprising 2-3 fund houses) has put forward the results of its analysis to Sebi. Initial feedback indicates that the requirement for an NoC will be done away with but the new distributor will not get trail commissions. The news has evoked mixed reactions from the distributor community. Most of them feel that without the trail fees there will be no incentive for a distributor to service his client. The ball is now in Sebi’s court.

Motilal Oswal sales head joins to Abu Dhabi fund
Jayesh Parekh, a former top institutional sales official at Motilal Oswal Financial Services, is believed to have joined Abu Dhabi Investment Authority (ADIA), a sovereign wealth fund owned by Abu Dhabi. However, ET could not confirm the role of Parekh, who was rated the top salesperson for India in the AsiaMoney Brokers poll recently, in ADIA. Earlier, ADIA had roped in Mihir Vora, equities head of HSBC Asset Management, as a fund manager.

(Contributed by Santosh Nair, Deeptha Rajkumar & Nishanth Vasudevan)

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	Two attractive mid cap picks Sanjay Chhabria
	Polaris Software Labs: Buy at CMP Rs177 Nirmal Bang
	Cipla: Healthy growth going forward Punam Choudhary
	Technical Picks: Havells, Power Finance Corp HDFC Sec

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Src:Economictimes, Valenotes

Check out 12 attractive stocks of low-profile sectors

2009-12-08T15:55:00.002+05:30

Check out 12 attractive stocks of low-profile sectors

Companies with attractive growth opportunities
7 Dec 2009, 1025 hrs IST

Print	Save	EMail	Write to Editor

Kiran Kabtta Somvanshi of ET Bureau

Little tracked sectors like glass, paper, basic industrial materials and packaging offer stocks with attractive growth opportunities.

An ETIG study shows that there are at least dozen good companies belonging to such low-profile sectors like glass, paper, abrasives, electrodes, packaging and others. The following 12 companies, while being relatively small in size, hail from sectors that are typically clubbed under the category of 'miscellaneous'.

Check out the power-packed dozen companies.

Next >>

ABC Paper
7 Dec 2009, 1025 hrs IST

Print	Save	EMail	Write to Editor

Latest Quotes | Charts | News/Announcements | Quarterly Results | P&L | Price History

This Rs 200-crore Chandigarh headquartered company is engaged in the manufacture of wood-free writing and printing paper through the use of wild vegetations and agro-residues. The growth in the value-added paper segment in the country presents an attractive opportunity for this company with an unconventional business model. From making a loss in FY06, the company has grown to register a profit of Rs 14 crore in FY09 and Rs 18 crore for the trailing twelve months ended September 2009. The company has also paid dividend in last three years with the average payout ratio of 15%.

For More On this @ Check out 12 attractive stocks of low-profile sectors

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Src: Economictimes.Indiatimes

Nifty likely to face resistance at 5300

2009-12-07T08:07:00.002+05:30

Nifty likely to face resistance at 5300

December could be the fourth-straight month where the market may continue to be in range, as depicted by options data for that particular month

Top 5 picks of the day
Where are mkts headed?
Check dividend yield
Switch fund & realign

barring past few days in October.

Positional range for the Nifty seems to be 4800 on the lower side and 5200-5300 on the higher side. The 5000 put has a maximum build-up, but we believe it’s more of buying and we don’t assign more than psychological weightage to it.

The build-up in 5300 call option, of late, indicates call buying, as implied volatility for the same is around 21% and such low IVs in this long expiry (December 31, 2009) indicates the same. Buying of FIIs in index option also supports the argument. Very rarely, in the history of this market, we have seen the market crashing significantly from its highs if the market spends time near the highs in the form of consolidation as we are doing now. Otherwise, falls are immediate and furious.

Against this backdrop, we would suggest buying at-the-money or slightly out-of-money calls of the Nifty, as indices likely to breach the much-talked about resistance zone of 5180-5200. Having said that, it won’t be a run away rally. The new resistance for the Nifty will be 5300.

Also Read

→ Profit-booking may interrupt D-St ride

→ Markets to remain volatile with negative bias: Analysts

→ Indian cos' add $5.33 bn to their US m-cap in a week

→ Eight-year cycle: Sensex may hit 21,000 jackpot in 2011

→ Rs 58,000 cr blocked with cos suspended by BSE & NSE

So, if the market consolidates in a narrow range, then it will be midcaps which will gather attention. In fact, it has already started. Case in point: Banking and IT. Large caps are consolidating, but mid-caps are showing significant price as well as open interest appreciation. Among large caps, Reliance Industries’ 1080, 1095 and 1110 calls have seen substantial build-up, and we believe this congestion zone is resistance for the stock.

Bharti Airtel has rallied from lower levels predominantly, because of short-covering. Call writing in 320 call suggests upside is limited. BHEL has good support around 2170-2180 levels and good shorts standing in it. We expect short-covering to take place.

By - Siddarth Bhamre, Fund Manager-Derivatives, Angel Broking

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Top 5 picks of the day I Mid-term picks I Where are mkts headed?

Bull's Eye: Yes Bank, Mahindra Satyam, Tata Motors, Bajaj Hindustan, Nestle

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Reaction from double top

he market tested the 2009 high and corrected last week. The Nifty closed out at 5,108.9 points for a week-on-week gain of 3.4 per cent while the Sensex was up 2.8 per cent at 17,101 points. The Defty gained 4.5 per cent as the rupee hardened sharply.

Advances outnumbered declines and breadth in terms of traded shares was good. But volumes were on the low side of average in both cash and derivatives markets. The FIIs were net buyers while domestic institutions sold in small quantities. The BSE 500 rose 3.9 per cent while the Midcaps were up 5.3 per cent. The Junior was also up over 5 per cent.

Outlook: The market tested the 2009 high of 5,181 and reacted from that level. This is a double-top, which has short-term negative significance. A reaction clearly started on Thursday and Friday. There’s good support above 5,000 and the reaction may end there. The long-term trend and intermediate trends both seem positive.

Rationale: Although the double-top suggests resistance at 5,181 is very strong, the week saw a breakout that established a pattern of higher highs. Coupled to higher lows in the past fortnight, this indicates strongly that the intermediate trend is positive. The long-term trend still appears to be climbing, given a rising 200-day moving average.

Counter-view: Opinions differ on the persistence and strength of a double-top pattern. If the double-top causes just a short-term correction, support will come in just below current levels. However, this was a major top in that 5,181 was a 52-week high. So the correction may have deeper or more long-term implications. If the market closes below 5,000, we will probably see another bout of range-trading between 4,800-5,000.

Bulls & Bears: Friday saw a reaction and the market closed towards the lower end of the day’s trading range. Sectors which appeared to be hard hit included banks and real estate companies – these sectors had both gained strongly in tandem before the correction started. Until the reaction bottoms out, banking and realestate are likely to lose more ground than the Nifty. The engineering, power sector and auto stocks appeared to be weak as well but the trends there were more mixed. For example, GMR Infra gained on Friday, while IVRCL lost and these two normally move together.

The pharma sector seems to be quite strong, with many stocks such as Cipla, Glenmark, Divi’s and Torrent gaining substantially. There was also a lot of interest in media stocks with NDTV, TV-18 and of course, the new listing, Reliance Media World generating huge volumes. Some short-covering is taking place in the beaten-down telecom sector where Idea might outperform in the next couple of sessions.

MICRO TECHNICALS

CIPLA
Current Price: Rs 358.95
Target Price: Rs NA

The stock has been bullish since mid-March when it was trading at around Rs 200. The slope of the rise has got steeper and volumes have expanded in the past week. Impossible to project targets since it is in new territory. Keep a trailing stop at Rs 350 and go long. Raise the stop 10 points for a 10-point rise.

POLARIS SOFT
Current Price: Rs 181.25
Target Price: Rs 174

The stock has started a high-volume reaction from a recent 52-week peak. It is likely to pull back till support at around the Rs 174 level. Keep a stop at Rs 183 and go short. Cover the position below Rs 175. The long-term trend is strongly bullish. Consider reversing the position (double-plus) at Rs 174 when the reaction ends.

ESSAR OIL
Current Price: 145.45
Target Price: Rs 160

The stock has seen gains from support at around Rs 132. It has also seen volume expansion. There’s strong resistance at Rs 150 but that is a minimum target on the bounce. There is potential for Rs 160 to be achieved. Keep a stop at Rs 143 and go long. Book partial profits at Rs 150.

TUBE INVESTMENTS
Current Price: Rs 70.2
Target Price: Rs 80

The stock has shot up on huge volume expansion. It has been hitting resistance at above current levels. If it clears Rs 72-74, it would be at a new high with a target of about Rs 80-85. Keep a trailing stop loss at Rs 67 and go long. Increase the position above Rs 73 and move the stop up 5 units for every 5 unit gain.

AXIS BANK
Current Price: Rs 1,027
Target Price: Rs 990

The stock has support at Rs 1,000-1,010 and that is one possible target. If Rs 1,000 is broken, it could fall to Rs 980. Keep a stop at Rs 1,040 and go short. Partially cover between Rs 1,000-1010. Clear the position below Rs 990.

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Volume gains	07-DEC-09
For the first time since taking over Jaguar Land Rover (JLR) in June last year, Tata Motors returned to profitability at the consolidated level.

Seeking new funds	07-DEC-09
Mutual fund houses are aiming to raise money at a time when the existing equity funds are finding it tough to cope with low inflows and redemption pressure.

Healthy gains for Smart Portfolios	07-DEC-09
The markets rose steadily for the better part of the week on news of robust GDP numbers and allaying of fears on the Dubai repayment crisis.

Markets at a glance	07-DEC-09
Key benchmark indices surged as India’s economy expanded at higher than the expected rate of 7.9 per cent for October.

Gold falls the most in a year	07-DEC-09
Gold dropped the most in a year as a rising dollar prompted some investors to sell bullion on the heels of a rally to an all-time high.

Trading focus on the near-term	07-DEC-09
A northwards breakout early in the week was followed by a correction.

Reaction from double top	07-DEC-09
The market tested the 2009 high and corrected last week.

The hedge opportunity	07-DEC-09
Performance cycles indicate that hedging could be an opportunity and not just an imperfect risk management technique.

Analysts' corner	07-DEC-09
Hindustan Unilever (HUL) continues to witness volume deceleration in some of its key categories despite several re-launches, hefty advertising and pricing action implemented by the company since January 2009.

A long-term play	07-DEC-09
JSW Energy’s track record and high revenue visibility are some clear positives, but the IPO leaves little to gain from in the short-term.

Bankable model	07-DEC-09
Godrej Properties’ growth strategy, past performance and brand equity augur well and will help deliver healthy returns in the long run.

Still soft	07-DEC-09
Tata Steel reported a consolidated loss of Rs 2,707 crore for the September 2009 quarter, its third consecutive quarterly loss.

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JSW Energy IPO Analysis

Bajaj Electricals

Page Industries

Godrej Properties IPO Analysis

Godrej Consumer Products

Pratibha Industries

ACC /

Wipro /

Bata India

Src: Economictimes, Business-Standard, DP Blog

Markets setting base for next fall, 15-20% correction could happen: Anil Manghnani

2009-12-04T16:08:00.000+05:30

Markets setting base for next fall, 15-20% correction could happen: Anil Manghnani

Anil Manghnani , Director, Modern Shares & Stock Brokers believes that while the market may top out maximum at 5400, it seems to

be setting up the ground for the next fall. He continues to be negative on real estate stocks. Here is what he told ET Now this morning.

A bit of a flattish close yesterday, 5131, last day of the week, how do you expect it to pan out?

It will probably be subdued trading now, last two days markets not been able to hold onto the intra-day gains. There is a little bit of, not fatigue but little bit of pause, I mean remember the market has gone from 4800 to nearly 5200 in four trading sessions as such. So, some pause even today may be more stock specific action but I would say whether we top out at 5200-5300-5400, I am not sure but this time around I feel we are setting up the base for the next fall.

Without sounding overly bearish, what I am trying to say is the last two occasions we were at 5100, you did not get the sense that the retail participation was there, momentum stocks were not moving, speculative action was not there. You had voices where there is the redemption pressure, it is very rare in India. You hear markets at a new 52-week high and redemption pressure but that seems to be subsiding now. The scepticism seems to be a little bit off now and the people are coming back to the market. So even though this Nifty may have some leg on the upside, I just feel that now with the participation increasing there will be more risk which will create the excess for the next correction.

So you will see movement but there is going to be some sort of creation of the next fall. It will be difficult to understand, I mean to explain but now is the time to be careful in this move to 5300-5400 where the excesses are going to be created. The next time the fall comes, you will get that 15-20% correction. Every time we get a fall of let’s say 300-400 points, everybody talks about that 20% correction and the market bounces back but this time around we are creating that sort of scenario where we will be susceptible to a fall.

Stock specific in this session and you are looking at real estate, that is your target on the sell side?

More so from the fact that they are weaker sectors and they have had a nice bounce from the lows of Friday. So anywhere close to 94 to 100 sort of levels is a good range to exit Unitech, especially you are stuck earlier or you bought on Friday. So that would be a range for me. You sell between 94 and 101 and your lower target should be back to 86 and 80. Even weaker than Unitech is DLF because that actually went and made a fresh low in the fall of Friday. When I say fresh low to October end lows. That is more weaker, so 388 to 402 would sort of be the profit booking or exiting zone if you are stuck with a view that the stock will fallback to about 370 and 353 levels.

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'Emerging mkts to provide strong returns'

Allan Conway , Head, Emerging Markets, Schroders believes emerging markets will continue to be strong performers in the next year too.

He believes the decoupling process is well and truly on. Here is the full transcript of his chat with ET Now: ( Watch Video )

It appears that at global level, markets are now ready to buy risk because of dollar carry trade, significant inflows are now coming to emerging markets?

The first thing I would point out is that when we talk about buying risk, in the past investors viewed emerging markets as risky assets. The fact is there has been a re-appraisal of risk in the marketplace. We would actually argue that the risky assets now are the US equities, European equities, Japanese equity markets. The safe haven equity markets are actually now the emerging countries and this re-appraisal of risk is causing a lot of increased interest in emerging market investment.

One of the things that I do in some of the presentations I make is I give investors an example of a country, I call it country X which has very bad fiscal position, poor current account, depreciating currency, low level of reserves, high reliance on foreign capital to finance its debt and I asked investors which they thing country X is and in the past everyone would have said that is an emerging country. Today that country is the US. The US today looks more like an old fashioned emerging country and today’s emerging are much-much stronger. So there is re-appraisal of risk now going on in the marketplace we believe.

But if you really analyse a market like India, we have got $15 billion of institutional inflows in the year 2009 and that is some kind of a record, how much do you think the current inflows for Indian market are actually because of dollar weakness?

You must remember that the inflows you are seeing this year are after some very significant outflows last year. If we take emerging as a whole, the data we see is the money that is coming to emerging in total this year is only a fraction more than the total that came out last year. So net over the two years it actually broadly flat.

Now obviously the weak dollar has encouraged the carry trade, positions that you are starting to see. However we would argue that a lot of the money going into emerging markets is now particularly coming from institutions rather than retail because institutions are now looking at emerging as strategic investments rather than tactical. So carry trade has a real but much more important has been this reappraisal of exposure to emerging and acknowledging that they are much stronger than the developed and institutions moving to a strategic allocation.

To actually draw parallel here, the yen carry trade lasted for years before it went burst, what is your sense, will the dollar carry trade also perhaps exist and coexist for another five six years more before it actually fades away?

We should expect to continue to see dollar weakness. There will obviously be short time periods, short periods where the dollar has a bounce but there are three underlying factors that would give you ongoing dollar weakness, one is obviously the economy that is low growth, high debt, underlying, weak economy in the US, indeed this crisis is probably knocked off 50 basis points from their trend growth.

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Src: Economictimes.Com

Srisai's Instinct Stock Calls for Dt: 04.11.2009

2009-12-04T08:21:00.002+05:30

Srisai's Instinct Stock Calls for Dt: 04.11.2009

This(Srisai's Instinct Stock Calls) will be a New Initiative of this blog to Publish Blog Author's Own Investment/Trading Calls for Short-Medium Term perspective. But All these Calls are not given on Purely Technical perspective. Most of these Calls are given by Blog Author from His past Investment/Trading experiences. So Do not expect More depth in Calls. Author has tried his best to give some calls for the benefit of Investors/Traders from his experience and from some media/web/news based call. So author request all the investors/traders to take/try these Calls as RISK CALLS. And Keep Strict Stop Loss Own (or) Keep Resi,Supp levels As Stop Loss for their Trading(or) Trade/Invest @ your Own Financial Risk. All type of Comments are Welcome about this New Initiative. Dont Forget to Keep Stop Loss and Again Author Remembering you that he is giving calls only from his past trading experience...

Nifty Future cmp 5132

NFut struggles to cross 5181 levels... LOng only above this level... Supports at 5114-5052-5056 levels...

ACE: cmp 34

Buy For Investments... Supports @ 31.8-29.4 levels... Resi @ 36-38 levels..

Polaris cmp 191

I think Stock has cross crucuial resi @ 185-188 levels... As long as this level holds, then could see further upside...

Sunflag Iron: cmp 25.3

This stock everytime bounces to 27 levels and returns ..... Will this break that level and Breakout?????

Rcom: cmp 179

(Outside call)

If breaks 182-185 with good volumes, then could see a 10-15 % upside... StopLoss at 174..

By

Srisai..

Heard on the street

2009-12-01T08:17:00.000+05:30

Heard on the street

Parent’s show of strength boosts Thomas Cook
A series of positive developments helped shares of tour operator Thomas Cook (India) jump

11.93%, or Rs 6.90, on Monday to end at Rs 64.75 on BSE. According to analysts, the demand uptick in the travel and hospitality sector during the past couple of months has been boosting sentiment in the counter. The improved sentiment is expected to continue over winter, the peak season.

Around the same time last year, the business was dull as a result of the global financial crisis and the subsequent Mumbai terror attacks. But what appears to have helped the counter on Monday was the strong set of numbers put out by the company’s European parent Thomas Cook for the full year ended September 30, 2009. Thomas Cook (India) touched an intra-day high of Rs 67 and low of Rs 59.70 before closing at Rs 64.75 on BSE.

Institutional buying lifts Man Aluminium
After two sessions of harsh selling, institutional investors started buying shares of Man Aluminium at lower prices in sizeable quantities. Man Aluminium shares were pounded on bourses last week (post-reports of Dubai debt debacle) as investors feared Dubai Bank PJSC, which holds 4.3% in the Indian aluminium company, would dump its India equity holdings, including Man Aluminium, to make good their losses in Dubai. Firm aluminium prices also supported the shares of the company. The near-month aluminium contract on MCX was trading at Rs 93.25 per kilo, up by Rs 0.70 from Friday’s close. Shares of Man Aluminium ended 1.9% higher at Rs 42.90 on the BSE on Monday.

Earnings growth hopes trigger demand in Marico
Institutional investors have been active in the Marico counter on hopes of better prospects for the company, after a leading Mumbai-based broking house said the company would sustain earnings growth amid national rollout of new products. In its research report, the broking house said the company’s strategy to reinvest savings in brands will help it post better volume growth even as the topline would moderate due to diminishing price growth.

Recently, FII Arisaig Partners acquired nearly 17 lakh Marico shares to raise its stake to 5.2% through open market purchases. The stock has been seeing some action in the current market though it has underperformed the recent bull run. Marico closed marginally up at Rs 103.5 on Monday.

The delivery ratio, which reflects long-term investor interest in a particular stock, has been healthy between 45 to 65% during the past few days.

Contributed by Reena Zachariah, Shailesh Menon & Vijay Gurav

Src: Economictimes

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Markets setting base for next fall, 15-20% correction could happen: Anil Manghnani

Srisai's Instinct Stock Calls for Dt: 04.11.2009

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