Oil & Natural Gas Corpn Ltd (Q2 FY08)
CMP Rs1,250, BUY
Target price Rs1,350, Upside 8%
ä Lower subsidy burden boosts profitability
ä Increased gas production and higher crude realizations drive topline growth
ä Incremental volumes from OVL expected as projects enter the development phase.
ä Undervalued in comparison to global peers on EV/BOE. We recommend a BUY with a target price of Rs1,350.
Friday, November 2, 2007
The market witnessed overall gains but was unable to close above 20000. The Sensex closed at 19976, up 251 points while Nifty closed at 5932, up 65 points from the previous close. The BSE Midcap and Smallcap both closed in the positive. The market breadth was positive with advances at 600 against declines of 576 on the NSE.
The market remained firm this week despite bad global cues. The volatile week ended on a good note with gains across board: The Sensex was up 3.8%, the Nifty 4%. The BSE Midcap Index was up 1.3% and Smallcap 2%. Most sectoral indices were up too: The BSE Realty Index was up 3.5%, the BSE Capital Goods Index 10%, the BSE Bankex 9.5%, the BSE Metal Index 6% and the BSE Oil&Gas 5.8%. Only the BSE FMCG Index was down 3%.
The banking sector cannot be ignored as most banks have posted better numbers than expected and also have good quality of assets, says IV Subramaniam of Quantum AMC, on NDTV Profit. He is bullish on the banking sector. The BSE Bankex Index is up almost 2% today.
Book partial profits in this rally, says Ashwani Gujral, technical analyst, on CNBC-TV18. But it is certainly not a time to buy; wait for the global situation to clear out, he suggests. The market is expected to be choppy ahead, he adds.
The market remained firm this week despite bad global cues. The volatile week ended on a good note with gains across board: The Sensex was up 3.8%, the Nifty 4%. The BSE Midcap Index was up 1.3% and Smallcap 2%. Most sectoral indices were up too: The BSE Realty Index was up 3.5%, the BSE Capital Goods Index 10%, the BSE Bankex 9.5%, the BSE Metal Index 6% and the BSE Oil&Gas 5.8%. Only the BSE FMCG Index was down 3%.
The banking sector cannot be ignored as most banks have posted better numbers than expected and also have good quality of assets, says IV Subramaniam of Quantum AMC, on NDTV Profit. He is bullish on the banking sector. The BSE Bankex Index is up almost 2% today.
Book partial profits in this rally, says Ashwani Gujral, technical analyst, on CNBC-TV18. But it is certainly not a time to buy; wait for the global situation to clear out, he suggests. The market is expected to be choppy ahead, he adds.
Top Five Gainers
Top Five Losers
| Company | Price (Rs) | % Change |
| + Fertilisers & Ch | 28.55 | +19.96 |
| + National Fertili | 66.80 | +19.93 |
| + Dena Bank | 72.50 | +11.20 |
| + Dredging Corpora | 959.05 | +10.00 |
| + Engineers India | 904.10 | +9.99 |
Top Five Losers
| + Bharti Airtel | 894.85 | -5.10 |
| + Apollo Hospitals | 467.60 | -4.26 |
| + Birla Corporation Lt | 321.80 | -4.04 |
| + Adani Enterprises Lt | 794.05 | -3.97 |
| + Indo Rama Synth. | 57.50 | -3.93 |
The market opened on the lower side Friday. The Sensex is currently trading at 19,472, down 252 points from the previous close. Nifty is at 5800, down 65 points. Market breadth is extremely weak, with 105 advances against 500 declines on the NSE.
The Nifty may see 150 point gap-down opening, says an NDTV Profit Poll. The Sensex may come down 500 points today. Some dip buying might come in around 5620.
The Nifty may see 150 point gap-down opening, says an NDTV Profit Poll. The Sensex may come down 500 points today. Some dip buying might come in around 5620.
Thursday, November 1, 2007
At 20000, the market was overvalued by 19 times so a market correction is healthy, says Amitabh Chakrobarthy, president of Religare Securities, on NDTV Profit. The market is likely to witness volatility but money will move from the A group to the midcaps, he adds.
The market may enter a quiet period in November move sideways, says Dipan Mehta, BSE/NSE Member, on CNBC-TV18. The news has dried up (the P-note issue, corporate results) and FII funds will slowdown.
There are a lot of IPOs expected to be announced in November so funds may get diverted, says Sachin Shah of Motilal Oswal Securities, on CNBC TV18. The companies that have posted good results could be accumulated in the portfolio from the midcap and smallcap segments.
After the sharp run up, the market will see a slowdown in momentum and move into consolidation, says Harendra Kumar of ICICI Direct, on CNBC TV18. The market has witnessed large cash players who have been playing safe and taking profits off the table.
The market may enter a quiet period in November move sideways, says Dipan Mehta, BSE/NSE Member, on CNBC-TV18. The news has dried up (the P-note issue, corporate results) and FII funds will slowdown.
There are a lot of IPOs expected to be announced in November so funds may get diverted, says Sachin Shah of Motilal Oswal Securities, on CNBC TV18. The companies that have posted good results could be accumulated in the portfolio from the midcap and smallcap segments.
After the sharp run up, the market will see a slowdown in momentum and move into consolidation, says Harendra Kumar of ICICI Direct, on CNBC TV18. The market has witnessed large cash players who have been playing safe and taking profits off the table.
Today was a tough day for traders in stock market.
The market was too much volatile finally it ended on a negative note.
Top Five gainers
Top Five Loser's
The market was too much volatile finally it ended on a negative note.
Top Five gainers
| Company | Price (Rs) | % Change |
| + National Fertili | 55.70 | +19.91 |
| + MICO | 4,736.95 | +11.38 |
| + P&G Hygiene&Health | 728.85 | +8.07 |
| + ONGC | 1,330.20 | +6.60 |
| + Reliance Petroleum | 261.85 | +6.31 |
Top Five Loser's
| Company | Price (Rs) | % Change |
| + Sterlite Technologie | 287.40 | -8.30 |
| + Mphasis Ltd. | 288.75 | -7.75 |
| + Reliance Capital | 1,963.60 | -7.47 |
| + Bharat Forge Ltd | 349.30 | -7.31 |
| + Videsh Sanchar N | 517.05 | -6.96 |
The market is shedding its gains and the Sensex is off the day's high. The Sensex is currently trading at 19,676, down 161 points while Nifty is at 5843, down 56 points from the previous close. The market breadth is negative with advances at 329 against declines of 858 on the NSE
At 20000, the market was overvalued by 19 times so a market correction is healthy, says Amitabh Chakrobarthy, president of Religare Securities, on NDTV Profit. The market is likely to witness volatility but money will move from the A group to the midcaps, he adds.
At 20000, the market was overvalued by 19 times so a market correction is healthy, says Amitabh Chakrobarthy, president of Religare Securities, on NDTV Profit. The market is likely to witness volatility but money will move from the A group to the midcaps, he adds.
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