Buy Siemens CMP Rs 1725 Target Rs 2000 in a few days

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Siemens bags Rs 3,300 million order from Tata Steel

October 23, 2007

Siemens Ltd has announced that Siemens Ltd together with Siemens AG, Germany has bagged Rs 3,300 million (Rs 330 crore) from Tata Steel for providing the Power Distribution Network solutions for their Greenfield Steel plant at Kalinganagar, Orissa.

Siemens' Power Transmission and Distribution (PTD) division has bagged a significant order from Tata Steel to provide the Power Distribution solutions for their Greenfield plant in Orissa. Tata Steel, the world's sixth largest steel producer in terms of crude steel production, with geographic footprints in India, South East Asia, UK and Europe is setting up a Greenfield 6MTPA Integrated steel plant at Kalinganager, Orissa. The scope of work for his new order will include the supply of latest High Voltage and Medium Voltage Gas Insulated Switchgear, MV Switchboards, Controls and Protection Panels, Substation Control and Automation systems and Energy Management Systems. The project is scheduled to be commissioned by end of 2009.

Mr. J Schubert, Managing Directors of Siemens Ltd. stated, "We are very happy to receive this prestigious order from Tata Steel. Their confidence in our capability to deliver high quality systems and solutions has resulted in this partnership. Over the years we have consolidated our experience in handling projects in the iron and steel segment in India as well as worldwide. We therefore, understand the complexities of the Industry and are able to provide top-class eco-friendly solutions to our customers."

Siemens' Power Transmission and Distribution Division in India provides products, systems and solutions in the area of Medium Voltage and High Voltage Switchgear, High Voltage Substations upto 800 kV, Protection and Substation Automation System and Control & Energy Management Systems.

Buy State Bank of India (SBI) CMP Rs 2083 Target Rs 2300 in a few days

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PRESS RELEASE

State Bank of India

WORKING RESULTS – H1FY08

Highlights:

ü The Net Profit for H1FY08 Rs.3037.23 crores, growth of 53.16% over H1FY 07.

ü The Net Profit for Q2FY08 is at Rs.1611.42 crores as against Rs.1184.49 crores in Q2FY07, growth of 36.04%.

ü Continued high net profit for third quarter in succession after net profit of Rs.1493.19 crores in Q4FY07 and Rs.1425.81 crores in Q1FY08.

ü The Bank’s Operating Profit for H1FY08 at Rs.5074.68 crores, growth of 29.52% over H1FY07.

ü Consolidated Net Profit up from Rs. 2697.45 crores in H1FY 07 to Rs. 4012.38 crores in H1FY 08, growth of 48.75%.

ü ROA of the Bank improved to 0.97% in H1FY 08 from 0.78% in H1FY07.

ü Marked improvement in ROE of the Bank to 17.83% in H1FY 08 from 13.39% in H1FY 07.

ü Market Capitalization of the Bank has crosses Rs. one lakh crores during the quarter.

ü Market Share in Deposits and Advances 15.38% and 15.35% respectively.

Profitability:

ü Net Interest Income (NII) in H1FY08 at Rs.7964.29 crores has gone up by 12.61% over the NII of Rs.7072.33 crores in H1FY07.

ü Net Interest Margin (NIM) of the Bank at 2.84% after deduction of amortisation premium of Rs.569 crores from Interest Income on Investments.

ü Total non-interest income increased from Rs.2525.86 crores in H1FY07 to Rs.3180.54 crores in H1FY08 thereby registering a strong growth of 25.92%.

ü Fee Income also registered a growth of 13.95% to Rs.1830.37 crores in H1FY08 from Rs.1606.31 crores in H1FY07.

Markets will open on a positvie note on Monday 29th october

Stock Market around the world have closed positively on Friday, thus giving hope that Indian Stock Market will be able to hold the positive gain & keep moving ahead.

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* Nikkei 225
* 16505.63
* 221.46

* KOSPI
* 2028.06
* 51.31

* Taiwan
* 9631.51
* 63.25

* FTSE
* 6661.30
* 85.00

* CAC
* 5794.87
* 34.57

* Nasdaq
* 2804.19
* 53.33

* Dow Jones
* 13806.70
* 134.78

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The markets are still trading in green but are off day's high after touching some new levels. Cues from Asia were encouraging with most of the Asia is in green. But Europe has opened flat to negative. Strength is coming in from all quarters and the breadth is looking very smart.

Metals, L&T, SBI have pushed the markets to new highs.

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Sensex is up around 400 points and Nifty is up over 100 points. Apart from the Sensex even the midcap and smallcap indices have hit anew high.

At 14.12 hrs IST, the Sensex is up 410.30 points or 2.19% at 19181.19, and the Nifty up 116.55 points or 2.09% at 5685.50.

About 1872 shares have advanced, 1089 shares declined, and 96 shares are unchanged.

L&T has surged up 12% with its strong Q2 numbers, its net profit up 73% at Rs 348 crore. This has taken the BSE Capital goods index up 5%

SBI is up over 5%, followed by BHEL and M&M up over 3%.

Heavy buying seen in capital goods, metals, oil & gas and realty stocks. All the key BSE indices were trading in green. BSE Metal index is up over 2.5%. Market breadth was positive and the volume was also impressive. On the macroeconomic front, inflation came in at 3.07% same as the previous week.

Top gainers on the indices were Reliance, L&T, Hindalco, GAIL, HDFC, Reliance Energy, Sterlite Ind, Siemens, ACC, ITC.

Reliance Energy, Reliance Petroleum, Maytas Infrastructure were the most active stocks on the BSE.

Mkts in momentum; cap good stocks flying high

The bulls have got more heady and have surged to make new records. Sebi's decision on P Notes seems to have gone well with the markets. Cues from Asia were encouraging with most of the Asia is in green. Strength is coming in from all quarters and the breadth is looking very smart.

Sensex is up nearly 500 points and has hit a new high crossing the previous high of 19,999. Metals, L&T, SBI have pushed the markets to new highs. Sensex is up 450 points and Nifty is up 130 points. Apart from the Sensex even the midcap and smallcap indices have hit anew high.

At 1.05 hrs IST, the Sensex is up 501.98 points or 2.67% at 19272.87, and the Nifty up 132.90 points or 2.39% at 5701.85.

About 1961 shares have advanced, 1004 shares declined, and 92 shares are unchanged.

BSE Metal index is up 4%, Sterlite Ind is up 6% and Tata Steel up 3%.

L&T has surged up 12% with its strong Q2 numbers, its net profit up 73% at Rs 348 crore. This has taken the BSE Capital goods index up 5%

Heavy buying seen in capital goods, metals, oil & gas and realty stocks. All the key BSE indices were trading in green. Market breadth was positive and the volume was also impressive. On the macroeconomic front, inflation came in at 3.07% same as the previous week.

Top gainers on the indices were Reliance, L&T, SBI, Hindalco, GAIL, HDFC, Reliance Energy, Sterlite Ind, Siemens, ACC, ITC.

Reliance Energy, Reliance Petroleum, Maytas Infrastructure were the most active stocks on the BSE.

Bulls take charge: Sensex, CNX midcap hit all time high

The markets have gained further ground and have moved upwards trading at new all time high. Sebi's decision on P Notes seems to have gone well with the markets. Strength is coming in from all quarters. Sensex is up over 450 points has hit a new high crossing the previous high of 19,999. Metals, L&T, SBI have pushed the markets to new highs. Sensex is up 450 points and Nifty is up 120 points.

Cues from Asia were encouraging with most of the Asia is in green.

At 12.03 hrs IST, the Sensex is up 420.26 points or 2.24% at 19191.15, and the Nifty up 125.40 points or 2.25% at 5694.35.

About 2063 shares have advanced, 905 shares declined, and 89 shares are unchanged.

Apart from the Sensex even the midcap and smallcap indices have hit anew high.

BSE Metal index is up 4%, Sterlite Ind is up 6% and Tata Steel up 3%.

L&T has surged up 8% with its strong Q2 numbers, its net profit up 73% at Rs 348 crore. This has taken the BSE Capital goods index up 5%

Heavy buying seen in capital goods, metals, oil & gas and realty stocks. All the key BSE indices were trading in green. Market breadth was positive and the volume was also impressive. On the macroeconomic front, inflation came in at 3.07% same as the previous week.

Top gainers on the indices were Reliance, L&T, SBI, Hindalco, GAIL, HDFC, Reliance Energy, Sterlite Ind, Siemens, ACC, ITC.

Reliance Energy, Reliance Petroleum, Maytas Infrastructure were the most active stocks on the BSE.

Sensex hits 19K again after initial setback

The markets have surged and the Sensex hit 19K level once again after initial setback in the early trade today on account of heavy buying seen in capital goods, metals, oil & gas and realty stocks. All the key BSE indices were trading in green. Market breadth was positive and the volume was also impressive.

At 10.29 hrs IST, the Sensex is up 241.82 points or 1.29% at 19012.71, and the Nifty up 91.05 points or 1.63% at 5660. About 2021 shares have advanced, 955 shares declined, and 80 shares are unchanged.

On NSE advance decline ratio was 4:1 with over 800 stocks on the advancing side and around 200 stocks on the downs side. Rupee was trading at 39.54 against a dollar.

Midcap and smallcap indices were outperforming the Sensex toda. BSE Midcap was up 1.96% at 7902.50 and smallcap was up 1.78% at 9532.60.

Top gainers on the Sensex are Reliance Energy at Rs 1,701 up 3.12%, Tata Steel at Rs 1,017.05 up 2.85% and ACC at Rs 1,090 up 2.71%.

Top losers on the Sensex are Dr Reddys Labs at Rs 606.90 down 1.25%, HUL at Rs 219 down 0.68% and Wipro at Rs 494.70 down 0.33%.

Reliance Energy, Reliance Petroleum, Maytas Infrastructure were the most active stocks on the BSE.

Markets open flat; cap good, power stocks firm

The markets opened on flat note today after Sebi's decision on P-notes. Power, capital goods and oil & gas stocks were firm in the early trade today, however banking stocks were little subdued.

At 9:56 am, Sensex was up 52 points at 18823 and Nifty was up 28 points at 5592. Gainers in the opening trade were Rel Energy, Rel Petroleum, ONGC, BHEL, Cipla, L&T, ACC, GAIL, Hero Hoda. ICICI Bank, HUL, Tata Motors, Tata Steel were among the losers.

Asian markets were trading higher. Hong Kong's Hang Seng advanced 0.63% or 188.29 points at 30,042.78, Japan's Nikkei gained 0.61% or 99.71 points at 16,383.88, Taiwan's Taiwan Weighted rose 0.45% or 43.13 points at 9,611.39, Singapore's Straits Times surged 0.87% or 32.14 points at 3,739.28 and South Korea's Seoul Composite was up 1.29% or 25.43 points at 2,002.18.

US markets: The Dow slipped 3.33 points, or 0.02%, to 13,671.92. The standard & poor's 500 index lost 1.48 points, or 0.10%, to 1,514.40, while the Nasdaq composite Index lost 23.90 points, or 0.86%, to 2,750.86.

Buy HCC CMP Rs 201 Target Rs 245-260

HCC has touched a 52-week high of Rs 209.15. At 12:52 pm, the share is quoting at Rs 202.60, up Rs 4.40, or 2.22%.

Its Q2FY08 net profit was up 178.89% from Rs 4.17 crore to Rs 11.63 crore.

It is trading with volumes of 1,052,082 shares Yesterday the share closed up 6.30% or Rs 11.75 at Rs 198.20.

Markets will cross 25000

The Sensex is expected to cross 25000 by the next calendar year, says a technical analyst from Angel Broking on CNBC TV18. The market may see fresh buying as it is likely to see a 20% upside from the current levels.

Bulls are the clear winners in this market and expect the rally to continue as Indiaÿs fundamental story remains strong, says Sandeep Wagle, technical analyst of Angel Broking, on NDTV Profit.

There may not be a CRR hike and RBI may maintain a status quo, says Uday Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank, on CNBC TV18. If GDP is maintained at 9% with a topline growth of 15-17%, then the market may see earning growth of 20-25%, he adds.

Lot of investors are waiting in the sidelines and will start dabbling in blue chip companies that are posting good results regularly, says Sajeev Dhawan of JV Capital Services, on CNBC TV18. It is not possible to time this market but investors should book partial profits and keep stop losses in this rally, he adds.

Be Cautious

The Sensex has touched an all-time high, crossing the previous high of 19,199. It is currently trading at 19,226, up 445 points. Nifty is at 5698, up 128 points from the previous close.

Emkay recommend Orient Paper with a target price of Rs 700, reports NDTV Profit. The stock iscurrently trading at Rs 635, up 1.7% on the BSE.

Market over 19000 points Today gains around 300 points

The market is holding on to its gains. The Sensex is trading above the 19,000 mark, at 19,090, up 319 points from the previous close. Nifty is at 5672, up 103 points. BSE Midcap index is up over 2% and Smallcap index is up over 1.8%. All BSE sectoral indices are trading higher. Market breadth is strong, with 896 advances against 231 declines on the NSE.

With new P-Note regulations, the market will see long-term money coming in and a steadier upmove, says Nirmal Jain, Chairman and MD of India Infoline, on CNBC-TV18. Reckless inflow of FII money will be checked now, he says. FIIs and retail investors will be more active now, compared to the hedge funds, he says. There will be a lot of PN holders and even hedge funds, registering as FIIs now, he adds

Sebi's decision on P-notes.

The markets opened on flat note today after Sebi's decision on P-notes. Power, capital goods and oil & gas stocks were firm in the early trade today, however banking stocks were little subdued.

At 9:56 am, Sensex was up 52 points at 18823 and Nifty was up 28 points at 5592. Gainers in the opening trade were Rel Energy, Rel Petroleum, ONGC, BHEL, Cipla, L&T, ACC, GAIL, Hero Hoda. ICICI Bank, HUL, Tata Motors, Tata Steel were among the losers.

Asian markets were trading higher. Hong Kong's Hang Seng advanced 0.63% or 188.29 points at 30,042.78, Japan's Nikkei gained 0.61% or 99.71 points at 16,383.88, Taiwan's Taiwan Weighted rose 0.45% or 43.13 points at 9,611.39, Singapore's Straits Times surged 0.87% or 32.14 points at 3,739.28 and South Korea's Seoul Composite was up 1.29% or 25.43 points at 2,002.18.

US markets: The Dow slipped 3.33 points, or 0.02%, to 13,671.92. The Standard & Poor's 500 index lost 1.48 points, or 0.10%, to 1,514.40, while the Nasdaq composite Index lost 23.90 points, or 0.86%, to 2,750.86

Buy UTV CMP Rs 680 Target Rs 750-800 in a few days.

UTV posts Q2 net profit at Rs 17 crore vs Rs 9 crore and sales at Rs 39 crore vs loss of Rs 2.8 crore, says Ronnie Screwvala, chairman of the company, on NDTV Profit. The company expects to have a 20% growth this year with a topline of Rs 400 crore, he adds. The stock is currently trading at Rs 681, up 1.6% on the BSE.

SEBI Clarifies PN Policy

Market regulator SEBI on Thursday announced new rules for foreign investments through financial instruments such as participatory notes, asking FIIs to wind up P-Notes for investing in derivatives within 18 months.

The SEBI Chairman M Damodaran announced the decision after a meeting of the Board, which also approved imposing curbs on P-Notes for investing in spot market. The new norms would come into effect from tomorrow.

In derivatives, foreign institutional investors (FIIs) and their sub-accounts cannot issue fresh P-Notes and will have to wind up their current position in 18 months, he said. In spot market, FIIs will not be allowed to issue P-Notes more than 40 per ce nt of their assets under custody. The reference date for calculating such assets will be September 30, SEBI said.

The provision will come into effect from close of trading hours today. Those FIIs who have issued P-Notes of more than 40 per cent of their assets, could issue such instruments only if they cancel, redeem, or close their existing PNs. Those FIIs who have issued P-Notes less than 40 per cent of their assets under custody can issue additional instruments at the rate of five per cent of their assets.

Markets lacks lusutre !

The market is still pretty quiet. The Sensex is currently at 18,609, up 97 points and Nifty is 5512, up 16 points from the previous close. All BSE sectoral indices, except FMCG and Healthcare, are trading in the positive zone. Market breadth is positive, with 766 advances against 348 declines on the NSE.

The market is in a period of consolidation, says Nilesh Shah of Envision Capital, on NDTV Profit. Do not rush into the market with large funds, instead buy on dips, he suggests. So, keep cash ready, he adds. He likes the real estate and infrastructure sectors, especially the niche space of infrastructure management.

SEBI should let some amount of 'anonymity' to stay, says Paul Schulte, Cheif Equity Strategist, Lefman Brothers, on NDTV Profit, regarding the market regulator's P-Notes proposals. P-Notes proposals would be harsh on hedge funds with few investors, he adds. He says SEBI should introduce more equity investment products.

The P-Notes issue might create some short term pressure, but if you hold stocks that are domestic plays, then there is not much to worry, says a market expert on CNBC Awaaz. An investor's focus should be on stock selection, keeping the valuations in mind, he says. Domestic sectors like engineering, manufacturing, telecom, infrastructure are safe bets, he adds.

Buy IDBI CMP Rs 145 Target Rs 160-170 in one month.

Buy VSNL CMP Rs 525 Target Rs 560-570 in one month.

Buy MTNL CMP Rs 180 Target Rs 220-250 in a short period.

Markets end flat

Markets still volatile

The markets have shown strength and trading in green amid volatility. Buying is seen in energy, bank, metal and realty pivotals. IT, auto and select oil & gas stocks are witnessing selling pressure. Broader markets have outperformed the benchmark indices and the midcap index is up 1.6% and smallcap index is up 1.3%.

SBI is up over 6% on news that cabinet could take up its rights issue in two weeks.

At 14.20 hrs IST, the Sensex is up 84.64 points or 0.46% at 18577.48, and the Nifty up 26.95 points or 0.49% at 5500.65.

About 1744 shares have advanced, 1210 shares declined, and 100 shares are unchanged.

BSE realty and oil & gas index are up nearly 3% followed by capital goods and banex up 1.5%. IT and oil & gas indices are trading weak.

Top gainers on the indices are Reliance Energy up 7%,SBI & Suzlon Energy up 6%, Hindalco up 4%, Satyam & Tata Steel up nearly 2%.

Top losers on the indices are ONGC, M&M, Tata Motors, Hero Honda, GAIL, HUL and Dr Reddys Labs .

Most active shares on NSE are Reliance Energy at Rs 1,579 with 3,385,798 shares, Bharti Airtel at Rs 1,002.95 with 2,921,970 shares and Reliance at Rs 2,588.90 with 1,107,194 shares.

BSE IT and auto index were trading with cut of over 0.5% and oil & gas index is also in red. In the oil & gas sector, the leading losers were ONGC, GAIL and Reliance. In the auto counter, the major losers were Hero Honda, M&M

BSE capital goods sector was trading in green with over 1% gains. In the capital goods space, the major gainers were Triveni Engg at 123.30 up 5.84%, Crompton Greave at 378.10 up 3.49% and Siemens at 1,714.90 up 3.41%.

Markets lacklustre: ONGC, M&M, Tata Motors top losers

The markets are are lacklustre on account of lack of buying interest in stocks at higher levels. IT, auto and select oil & gas stocks are witnessing selling pressure. Buying is seen in select energy, bank, metal and realty pivotals.

At 12.52 hrs IST, the Sensex is down 28.63 points or 0.15% at 18464.21, and the Nifty up 5.30 points or 0.10% at 5479.00.

About 1643 shares have advanced, 1315 shares declined, and 95 shares are unchanged.

Rupee was quoting at 39.57 today against a US dollar.

Top gainers on the indices are Reliance Energy, Hindalco & SBI up over 3%, Satyam & Tata Steel up nearly 2%.

Top losers on the indices are ONGC, M&M, Tata Motors, Hero Honda, GAIL, HUL and Dr Reddys Labs .

Most active shares on NSE are Reliance Energy at Rs 1,579 with 3,385,798 shares, Bharti Airtel at Rs 1,002.95 with 2,921,970 shares and Reliance at Rs 2,588.90 with 1,107,194 shares.

BSE IT and auto index were trading with deep cut of over 1% and oil & gas index is also in red. In the oil & gas sector, the leading losers were ONGC, GAIL and Reliance. In the auto counter, the major losers were Hero Honda, M&M

BSE capital goods sector was trading in green with over 1% gains. In the capital goods space, the major gainers were Triveni Engg at 123.30 up 5.84%, Crompton Greave at 378.10 up 3.49% and Siemens at 1,714.90 up 3.41%.

Mkts turn red on profit booking; oil & gas, IT stocks drag

The markets have give up all its early gains and have slipped in red on the back of heavy selling pressure seen in IT, auto, oil & gas stocks. Realty, metal and capital goods are stiull holding up in green, however they are also witnessing immense pressure.

At 11.40 am, the Sensex is down 96.57 points or 0.52% at 18396.27, and the Nifty down 15.30 points or 0.28% at 5458.40. About 1588 shares have advanced, 1349 shares declined, and 116 shares are unchanged.

Top gainers on the Nifty are Siemens at Rs 1,725 up 3.75%, Reliance Energy at Rs 1,573.35 up 3.32% and SAIL at Rs 244.30 up 3.30%.

Top losers on the Nifty are NALCO at Rs 278 down 3.07%, GAIL at Rs 397 down 2.83% and Grasim at Rs 3,592.90 down 2.76%.

Most active shares on NSE are Reliance Energy at Rs 1,579 with 3,385,798 shares, Bharti Airtel at Rs 1,002.95 with 2,921,970 shares and Reliance at Rs 2,588.90 with 1,107,194 shares.

BSE oil& gas and auto index were trading with deep cut of over 0.92% at 10642.25 and 5402.35 respectively. In the oil & gas sector, the leading losers were ONGC at 1,109 down 3.08%, GAIL at 396.50 down 2.88% and Reliance at 2,601.55 down 0.64%. In the auto counter, the major losers were Hero Honda down 3.06%, M&M down 2.74% and Punj Lloyd down 1.74%.

BSE capital goods sector was trading in green with over 1% gains. In the capital goods space, the major gainers were Triveni Engg at 123.30 up 5.84%, Crompton Greave at 378.10 up 3.49% and Siemens at 1,714.90 up 3.41%.

Mkts off highs; FMCG, pharma, oil&gas stocks drag

The markets have given up some of its early gains on the back of selling coming in pharma, FMCG, oil & gas and IT stocks. However, realty, capital goods and metal stocks are still trading strong with significant gains. Asian markets have also given up most of its gains after strong opening in their early hours.

At 10.41am, the Sensex is up 69.57 points or 0.38% at 18562.41, and the Nifty up 22.50 points or 0.41% at 5496.20. About 1864 shares have advanced, 1094 shares declined, and 95 shares are unchanged.

Market breadth was slightly positive on NSE. Rupee was quoting at 39.59 today against a US dollar.

Top gainers on the Sensex are Reliance Energy at Rs 1,612.80 up 5.89%, Satyam at Rs 481.50 up 4.28% and Tata Steel at Rs 921 up 2.86%.

Top losers on the Sensex are HUL at Rs 213.60 down 0.74%, ONGC at Rs 1,137 down 0.63% and Dr Reddys Labs at Rs 631 down 0.61%.

Oil&gas, pharma, FMCG and auto stocks are trading under pressure on the back of selling pressure.

Most active shares on BSE are Reliance Energy at Rs 1,603.70 with 608,811 shares, Power Grid Corp at Rs 140.90 with 4,272,043 shares and Reliance at Rs 2,605 with 188,635 shares.

Mkts open with huge gap up; Power, metals strong

The markets once again opened on a very strong note today on account of strong cues from the global markets. Power, capital goods, private banking and metal stocks were once again in focus.

At 9:56 am, Sensex was up 306 points at 18799.70 and Nifty was up 98 points at 5571. Major gainers in the opneing trade were SAIL, Reliance Comm, Rel Energy, ICICI Bank, Satyam, Infosys, Reliance, Hindalco, SAIL and Power grid.

Asian markets: Asian indices extended gains today. Hong Kong's Hang Seng surged 1.64% or 480.63 points at 29,857.49, Japan's Nikkei gained 0.78% or 128.01 points at 16,578.59, Taiwan's Taiwan Weighted rose 1.08% or 103.04 points at 9,605.43, South Korea's Seoul Composite advanced 2.33% or 45.34 points at 1,993.32 and Singapore's Straits Times was up 0.81% or 29.96 points at 3,725.26.

US markets: The Dow Jones Industrial Average surged 109.26 points, or 0.81%, to 13,676.23. The Standard & Poor's 500 index rose 13.26 points, or 0.88%, to 1,519.59; the Nasdaq composite index gained 45.33 points, or 1.65%, to 2,799.26.

Market cues:

• FIIs net sell USd 300 million in equity on Oct 22
• MFs net sell Rs 325 crore in equity on Oct 22
• NSE F&O Open Interest up by Rs 4,930 crore (Rs 49.30 billion) at Rs 1,01,274 crore (Rs 1012.74 billion)

Bse sensex & Nse are trading flat

The market is trading mostly flat. The Sensex is currently trading at 18504, up 11 points, Nifty is at 5480, up 6 points from the previous close. The market breadth is positive with advances at 686 and declines at 460 on the NSE.

Top Five Gainers

Company	Price (Rs)	% Change
+ Pidilite Inds.	190.70	+15.82
+ Novartis	326.00	+12.18
+ Crompton Greaves	393.00	+7.57
+ Rolta India	633.00	+6.84
+ IndusInd Bank	79.80	+6.19

Top Five Losers

+ ONGC	1,089.00	-4.83
+ Bank of India	299.75	-4.78
+ Essel Propack Ltd.	52.90	-3.64
+ EIH Ltd.	127.15	-3.20
+ Hero Honda Motor	738.00	-3.13

Volatility is here to stay, but for only for the short term, says Rahul Mohindar, technical analyst, on CNBC-TV18. But he does not see any major sell-off as of now. If the Nifty stays above 5420, then the market is in the comfortable zone, he says. The 50-share index has a strong support at 5020.

Karvy Stock Broking recommends Wipro with a year timeframe and a target price of Rs 590, reports Zee Business. The stock is currently trading at Rs 489.25, down 0.6% on the BSE. with a year timeframe and a target price of Rs 590, reports Zee Business. The stock is currently trading at Rs 489.25, down 0.6% on the BSE.

There is a strong appetite for Power Grid from long term investors, says SP Tulsian, Investment advisor, on CNBC-TV18. The stock can move up Rs 5-7 in a month, he says. It is currently trading at Rs 140, up 0.7% on the BSE

If Indusind Bank sustains above Rs 78, then momentum in this counter will continue, says Rajat Bose, technical analyst, on CNBC Awaaz. The stock could go to Rs 91, he adds. It is currently trading at Rs 78.55, up 4.5% on the BSE.

If MTNL decisively breaks out of the Rs 175-180 range, then it could be headed towards Rs 250, says Ashwani Gujral, technical analyst, on CNBC-TV18. The stock is currently trading at Rs 180.50 on the BSE.

As a result of profit Booking. Market sees red.

The markets have give up all its early gains and have slipped in red on the back of heavy selling pressure seen in IT, auto, oil & gas stocks. Realty, metal and capital goods are stiull holding up in green, however they are also witnessing immense pressure.

At 11.15 am, the Sensex is down 29.84 points or 0.16% at 18463.00, and the Nifty down 1.75 points or 0.03% at 5471.95. About 1607 shares have advanced, 1320 shares declined, and 126 shares are unchanged.

Top gainers on the Nifty are Siemens at Rs 1,725 up 3.75%, Reliance Energy at Rs 1,573.35 up 3.32% and SAIL at Rs 244.30 up 3.30%.

Top losers on the Nifty are NALCO at Rs 278 down 3.07%, GAIL at Rs 397 down 2.83% and Grasim at Rs 3,592.90 down 2.76%.

Most active shares on NSE are Reliance Energy at Rs 1,579 with 3,385,798 shares, Bharti Airtel at Rs 1,002.95 with 2,921,970 shares and Reliance at Rs 2,588.90 with 1,107,194 shares.

Stock trading tip for 23rd oct 2007

Buy Hcl Technologies CMP Rs 304 for a Target of Rs 365

Focus on large deals paying off …



HCL Technologies’ results for the quarter ending Sept 30, 2007, (Q1FY07) were lower than our expectations. It


recorded a 6% growth in top line to Rs 1,709 crore compared to our estimates of Rs 1,750 crore (9% growth).

However, the company continued to benefit from its focus on large deals. During the quarter, it bagged two

large deals – one a $250 million contract. The traction in large deals coupled with strong traction across

business lines like engineering and R&D, and infrastructure services is comforting. The company recorded its

highest-ever quarterly head count addition for IT services with 2,831 net additions. We believe the growth

momentum should pick up going forward. We reiterate our performer rating on the stock with a price target of

Rs 365.




Margin decline marginal despite wage hikes

The company recorded EBIDTA margins of 21.3% for the quarter registering only a 24bps (100bps = 1%) decline

despite wage hikes. This was partly aided by a 43bps decline in SG&A and a 1.4% growth in realizations. The

company continues to see a 3%-5% increase in billing rates for renewals and a 5%-8% increase for new deals.



Management aludes to a robust demand environment

The management reiterated the view expressed by Infosys and TCS that there is no visible slowdown in the

demand environment. The company indicated that the deal pipeline was stronger than it had ever seen before.



Valuation


We believe HCL Technologies would continue to benefit from its strategy of focusing on large deals and

uncontested markets. We reiterate our performer rating on the stock with a price target of Rs 365.

Today the sensex gave some hope to Investors

The bse sensex closed 54 points above & Nifty just 31.30 points below the previous day closing.
17613.99 54.01 Nifty : 5184.00 -31.30

There were nine FIIs present at the conference call with the market regulator SEBI, reports CNBC-TV18. SEBI came up with some clarifications on its P-Note proposals today, though the final decision will be taken on October 25. But you have to wait until tomorrow to see what the market makes out of these clarifications.

SEBI to FIIs: No upper limit on sub accounts registering as FIIs; 3000+ exist now.

SEBI to FIIs: Revisiting category of entities that seek FII status. No need to wait till October 25 to apply for FII registrations. Multiple registrations from single FII group likely.

SEBI to FIIs: P-Note exercise not aimed at curbing capital flows. It is necessary to differentiate between corporate and FII sub accounts.

Reliance enertgy stock are worst hit by the stock market crash

Reliance energy stock are currently trading at a price of Rs 1270 to Rs 1320 Nearly 30% down

When the Bse sensex was at 19000 points it was trading at Rs 1900 to rs 1950

This stock has fell more sharply than any other stock.

Top 5 gainers

Company	Price (Rs)	% Change
+ Ambuja Cements Ltd.	145.70	+4.37
+ Indo Rama Synth.	60.00	+4.08
+ Dredging Corpora	606.20	+3.00
+ GNFC	136.75	+2.55
+ Ingersoll Rand	300.00	+2.27

Top 5 Losers

Company	Price (Rs)	% Change
+ Guj. Mineral Dev	2,112.55	-5.00
+ Bharti Airtel	927.75	-4.20
+ Nicholas Piramal	269.00	-4.01
+ HMT Ltd.	53.20	-3.97
+ Punj Lloyd	331.05	-3.89

Stock market will recover after the confirmation that Nuclear Deal is off

The Indo-US nuclear deal is dead and that's the reality Prime Minister Manmohan Singh may have to face on Monday when the Left-UPA nuclear panel meets for what could be the final meet.

While Singh may have not given up hope, his Left counterparts have already sounded the death knell.

"One has to live with certain disappointments. We are not a one-issue Government. The deal not coming through is not the end of life," the Prime Minister had said while inaugurating the Hindustan Times Leadership Summit in New Delhi.

“We are trying to reconcile the divergent points of view. I have not given up hope,” he had said further.

Meanwhile, the Left encourages no dilly-dallying and wants a categorical answer from the Government on the nuke deal.

So, on Monday, at the Left-UPA meet, the deal will, most naturally, be at the top of the agenda of the Left parties.

“We want a categorical assurance that the deal is dead,” said CPI-M General Secretary A B Bardhan.

The Left could even push further and demand a public statement explicitly stating an early demise of the deal.

The Prime Minister’s telephonic conversation with the US president during his recent foreign trip could come up for discussions too.

"It’s premature to say what will happen,” said AICC Secretary Tom Vadakkan.

The Congress leadership is expecting these questions from the Left so just before the Left-UPA meet, top party leaders are likely to meet to chalk out their strategy and response to these queries.

With the deal more or less dead, the task ahead for the Congress campaign managers in the days ahead would be to find a safe landing.

Stock Market Opened with panic Down 400 points

But soon recovered 200 points

Market is volatile & still in a swing mode

17,000-17,500 on the Sensex is a good opportunity to get in. Investors should wait for a day or two for the volatility to subside before buying.”

Buy Biocon CMP 511 Target 620 in 6 months or early.

Company Background
Biocon is a research-driven, global healthcare company with a strong matrix of capabilities along the gene-to-patient
continuum. It manufactures and markets biotech-based pharmaceutical products. Its subsidiaries, Syngene and Clinigene,
provide contract research and clinical research services to global pharma majors. The company's bio-pharmaceutical
products comprise anti-diabetic agents, anti-hypertensive agents, anti-inflammatory agents, anti-oxidants, cardiovascular
agents, digestive aid enzymes, haemostatic agents, hepatoprotective agents, immunosuppressants and nutraceuticals.
The company recently divested its enzymes business to Novozymes A/S for US$115 million. This will enable Biocon to focus
on its core bio-pharmaceuticals business. Its subsidiary Syngene provides custom research services in the areas of synthetic
chemistry and molecular biology. In Sept 2006, Biocon launched BIOMAB EGFR, a monoclonal antibody for head and neck
cancer. In addition, the company offers renal therapy products to treat kidney disorders. Its innovative R&D has few products in
pipeline in various phases of clinical trials.

Changing product mix to boost core business
We believe Biocon's exposure to the vagaries of statin business is declining with its changing product mix and rapid growth in
the newly added products such as insulin. Moreover, with launch of BIOMAB and INSUGEN, we believe that the company is
gradually moving up in the value chain by shifting its focus towards formulations. It already has a formidable presence in Indian
biosimilar space and the niche therapeutic segments of nephrology and oncology. We see good future prospects in its
discovery focused R&D, where it has two monoclonal antibodies related to oncology and rheumatoid arthritis along with the
oral insulin. We believe revenue from the biosimilars and formulations would grow at a CAGR of around 20% over FY07-09E.
Customs & clinical research to add more value
We believe Biocon's custom research outsourcing would grow at a CAGR of over 40% during FY07-09E. As per Frost and
Sullivan estimates, Asian contract research outsourcing (CRO) market will grow at a CAGR of over 13.50% to $2 billion in 2010
from $1.2 billion in 2006 indicating a strong growth momentum. Biocon's presence in CRO business is through two companies
- Syngene and Clinigene. Syngene provides contract research while Clinigene focuses on Clinical research.
Syngene: Syngene is a leading global custom research service provider and is providing services to external customers from
few years. It has over 50 clients, including 6 of the top 10 global pharma companies as its customers. It contributes almost 90%
of Biocon's CRO businesses. Syngege provides a broad range of services, which enables it to participate in drug development
process from discovery to supply of development compounds. Recently, Bristol-Myers Squibb entered into a long-term
contract with it to set up a new research facility to house more than 400 scientists. This will further improve its capabilities in
medicinal chemistry, biology, drug metabolism and pharmaceutical development. Syngene has a strong knowledge base with
over 700 scientists.

Clinigene: Clinigene started operations for external customers only couple of years back. It provides clinical research services.
With demand for outsourced research expected to grow exponentially, the company has expanded its operations into a new
60,000 sq ft facility. This facility will house a new unit for conduct of BE/BA and Phase I studies and coordinate Phase II to Phase
IV Clinical Trials for a large number of global pharma and biotech companies.
Sales proceed from enzymes business boosts cash position
With a view to become a more focused player in the biotech pharma space, the company sold its enzymes business to
Novozymes A/S for US$115 million. The company plans to utilize the cash generated from the sale of the business for
inorganic growth opportunity.

Buy Bartronics India around Rs 225 Target Rs 350 in 6 months